For the first problem:
Future Value = $2,450 x (1 + 0.14)10 = $9,152.90
For the second problem:
Future Value = $8,000 x (1 + 0.08)8 = $13,743.76
For the third problem:
Future Value = $80,355 x (1 + 0.13)15 = $187,796.02
For the fourth problem:
Future Value = $187,796 x (1 + 0.05)6 = $228,444.33
For each of the following, compute the future value (Do not round intermediate calculations and round your final answers to 2 decimal places).
(FV) = Present value (PV) × (1 + r)n
Given below is the solution for the above problem;
$2,450 for 10 years at 14%: $2,450(1 + 0.14)10 = $9,151.82.
So, the Future Value is $9,151.82.
$8,355 for 8 years at 8%: $8,355(1 + 0.08)8 = $13,922.98.
So, the Future Value is $13,922.98.
$80,355 for 15 years at 13%: $80,355(1 + 0.13)15 = $474,319.46.
So, the Future Value is $474,319.46.
$187,796 for 6 years at 5%: $187,796(1 + 0.05)6 = $240,201.92.
So, the Future Value is $240,201.92.
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select all that apply which transaction type(s) is/are part of the operating cycle of a merchandising company? (select all that apply). multiple select question. payments for advertising services purchases of merchandise payments for salaries payments for rent sales of merchandise, often on account collections of accounts receivable
The transactions types that are part of the operating cycle of a merchandising company are: purchases of merchandise, sales of merchandise often on account, and collections of accounts receivable.
What is the operating cycle of a merchandising company?
The operating cycle of a merchandising company involves various transactions types that are used in the normal course of the company's activities.
The operating cycle is an accounting term used to describe the length of time it takes for a company to purchase, sell, and receive payment for its products.
In a merchandising company, purchases of merchandise, sales of merchandise often on account, and collections of accounts receivable are all part of the operating cycle.
On the other hand, payments for advertising services, payments for salaries, and payments for rent are not part of the operating cycle.
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how do marketers use data to develop pricing strategies?
Marketers design price plans that maximise revenue and profitability while taking into account elements like brand positioning and product distinction. They do this by using data on consumer demographics, competition, and market demand.
Any marketing plan must include pricing since it affects a product or service's revenue and profitability. Marketers utilise information on consumer demographics, such as income and purchase patterns, to determine how sensitive consumers are to pricing and how much they are ready to spend. Together with their own brand positioning and product distinction, they also take into account the competition and market demand for similar items. Marketers may create pricing plans that maximise revenues while remaining competitive and consumer-friendly by analysing this data. This may entail establishing different pricing for certain client categories, providing discounts or promotions, or changing prices in response to changes in supply and demand.
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select the agency or method (direct) that is used to collect royalties for a mechanical license. a. a public performance organization (ascap), (b.m.i.), (gmr), or (s.e.s.a.c.) b. the harry fox agency (h.f.a.) c. the william morris agency the mechanical licensing collective (m.l.c.) d. sound exchange the recording industry association of america (r.i.a.a.) e. no representation organization/license must be acquired with direct negotiations.
The correct answer is option B, The Harry Fox Agency (HFA). HFA is an organization that helps to secure and administer mechanical licenses for the reproduction of copyrighted works.
It works directly with copyright owners and publishers to collect royalties for mechanical licenses, and acts as a middleman between the two parties to ensure that the copyright owners are paid properly for the usage of their works. HFA also works with digital service providers to help them acquire the proper mechanical licenses for their content. In addition, it provides services for registration and tracking of copyrighted works and royalty payments. The other options listed in the question are all organizations that provide services related to public performance, such as collecting performance royalties from radio, TV, clubs, etc. They are not responsible for mechanical licenses.
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T/F: a two-for one stock split would the number of shares outstanding, whereas a 10% stock dividend will increase the number of shares outstanding by only 10%.
True.
A two-for-one stock split would double the number of shares outstanding, whereas a 10% stock dividend would only increase the number of shares outstanding by 10%.
What is a stock split?
A stock split is a business practice in which a business divides its current shares into several new ones. A company might undertake a stock split to make the shares more appealing to prospective shareholders.
They can also do it to increase trading activity and/or to give current shareholders additional shares, which can be used to vote on future corporate matters or sold for profit.
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Bob wants to sell his recreational vehicle (rv) for $21000. He emails curt with an offer -, but mistakenly types that the price is $20100. Curt says he accepts the offer and pays Bob $19.100 Bob or curt
- Can avoid the deal due to a mistake of value
- Can avoid the deal due to a unilateral mistake
- Must deliver the RV
- Can avoid the deal due to a bilateral mistake
In the following question, option 2). Bob wants to sell his recreational vehicle for $21000. emails curt with an offer -, but types that the price is $20100. Curt says he accepts the offer and pays Bob $19.100 Bob or Curt "can avoid the deal due to a unilateral mistake."
What is a unilateral mistake? A unilateral mistake occurs when one of the parties in a contract is mistaken about the terms of the contract. The other party is aware of the mistake but does not tell the mistaken party. A unilateral mistake does not give the mistaken party the right to cancel the contract. However, the contract can be avoided if the mistaken party can show that the mistake was caused by the other party's fraud, duress, or undue influence. In the given scenario, Bob wants to sell his recreational vehicle (RV) for $21,000.
He mistakenly types the price as $20,100 while emailing Curt with an offer. Curt accepts the offer and pays Bob $19,100. Bob or Curt can avoid the deal due to a unilateral mistake. Since Bob mistakenly mentioned the price and Curt accepted the offer without correcting the mistake, Curt can avoid the deal.
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T/F: The key to effective supply chain management is to get many suppliers to compete with each other, in order to drive down prices
The given statement is false. While competition among suppliers can sometimes result in lower prices, the key to effective supply chain management is not just about getting the lowest price.
Supply chain management is about creating a strategic and collaborative relationship between the company and its suppliers, ensuring that the right products are delivered at the right time and at the right price to meet customer demand while minimizing costs and risks. This may involve working closely with a select group of reliable suppliers who can offer value beyond just low prices, such as quality, innovation, and flexibility.
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The ______ is particularly well-suited to both foraging societies and industrial economies because it allows for greater mobility and flexibility in order to adapt to changing economic or subsistence opportunities
Hunter-gatherer lifestyles are well-suited to both foraging societies and industrial economies due to their mobility, flexibility, and sustainability. This allows them to take advantage of changing economic or subsistence opportunities quickly, making them a valuable asset to both types of economies.
The hunter-gatherer lifestyle is particularly well-suited to both foraging societies and industrial economies because it allows for greater mobility and flexibility in order to adapt to changing economic or subsistence opportunities. Hunter-gatherer societies have the ability to move from place to place, gathering resources from the environment as they need them, and the lifestyle is relatively low-cost and sustainable. This makes them particularly well-suited to foraging societies, who rely heavily on their ability to gather resources from the environment in order to survive.
Industrial economies also benefit from hunter-gatherer lifestyles due to the same mobility and flexibility. Hunter-gatherers can easily switch from one type of economic activity to another, allowing them to adapt to changing economic or subsistence opportunities quickly. This is especially useful for industrial economies, where businesses need to be agile and adapt to changing market demands in order to remain competitive.
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full employment is not considered to be zero unemployment, because
Because it represents the maximum number of skilled and unskilled workers that can be employed within an economy at any particular time, full employment is not the same as zero unemployment.
When all labor resources are being utilized as effectively as feasible, full employment has occurred. Full employment is when there are as many skilled and unskilled workers as is practical in a particular economy. As goals for economic policy, economists define full employment in a variety of ways based on their beliefs. The majority of contemporary economists concur that a certain amount of unemployment is required to control inflation as well as to provide people the opportunity to switch occupations, further their education, or develop their skills. A contract called an employment outlines the precise services that workers will do for their employers in exchange for a wage or salary.
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all of the following standards are used to determine whether a person is defined as an investment adviser, except:
An investment adviser is someone who provides advice or services to clients concerning securities, such as stocks, bonds, and other investment products. To be considered an investment adviser, a person must meet certain standards, including:
Registration with the Securities and Exchange Commission (SEC)Membership in a self-regulatory organizationBeing subject to the jurisdiction of a state securities regulatorHaving at least a certain amount of assets under managementHowever, the criteria listed above are not the only standards used to determine if a person is an investment adviser. Other factors, such as a person’s professional credentials, experience in the field, and qualifications to provide investment advice, may also be considered. For example, a person may be able to provide investment advice without having any assets under management, but they may still be considered an investment adviser if they have the necessary qualifications.
Therefore, the answer to the question is: "Having at least a certain amount of assets under management" is not an essential criterion used to determine whether a person is an investment adviser.
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what are the two factors used to classify social networks for marketers?
Audience , Functionality are the two factors used to classify social networks for marketers.
The two factors used to classify social networks for marketers are audience and functionality.
Audience: This refers to the demographic or psychographic characteristics of the users of a social network. Marketers can use this information to target specific groups of people based on factors such as age, gender, location, interests, and behavior.
Functionality: This refers to the features and tools available on a social network that can be used for marketing purposes. Different social networks have different functionality, and some may be more suitable for certain marketing strategies than others.
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Is an important element of the fair labor standards act. - the disability benefit
- permanent employment
- the record keeping requirements
- guaranteed employment
- a private pension plan
An important element of the Fair Labor Standards Act is the record-keeping requirements. Hence option B. is correct.
What is Fair Labor Standards Act?The Fair Labor Standards Act (FLSA) is a US law that protects workers' rights by establishing minimum wage, overtime pay, and other labor standards.
The act was passed in 1938 and has been amended numerous times since then. It applies to most employees who work for an employer whose annual sales volume exceeds $500,000.
To guarantee that employers are following the law, the Fair Labor Standards Act includes a record-keeping requirement. Employers must maintain records on employees' hours worked, wages paid, and other relevant details.
This information is used to ensure that employers are paying workers fairly and in compliance with the law.
The Disability Benefit, Permanent Employment, Guaranteed Employment, and a Private Pension Plan are not important elements of the Fair Labor Standards Act.
Hence option B. the record keeping requirements is correct.
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The FCC's temporary freeze on new television stations instituted between 1948 and 1952 contributed to NBC, ABC, and CBS becoming the Big Three dominant broadcast networks.
a. True
b. False
The statement "The FCC's temporary freeze on new television stations instituted between 1948 and 1952 contributed to NBC, ABC, and CBS becoming the Big Three dominant broadcast networks" is true.
Explanation:
From 1948 to 1952, the Federal Communications Commission (FCC) imposed a temporary freeze on the issuance of new television licenses in order to regulate and organize the distribution of new channels. This allowed existing networks, particularly NBC, ABC, and CBS, to establish themselves as the primary television networks. These three networks became known as the "Big Three" because they had a monopoly on national broadcasting, and the temporary freeze aided in their dominance over smaller regional networks.
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true or false unless specific sales criteria are met, the factoring of accounts receivable with recourse is accounted for as a loan.
Unless specific sales criteria are met, the factoring of accounts receivable with recourse is accounted for as a loan is a true statement.
Factoring of accounts receivable is an alternative financing method in which an enterprise sells its accounts receivable to a third party at a discount. Factoring with recourse is accounted for as a loan when specific sales criteria are not met.
The buyer agrees to accept the credit risk of the accounts receivable as part of the factoring contract, which means that the seller is liable to the buyer for any losses that occur as a result of unpaid accounts. As a result, factoring with recourse is accounted for as a loan.
Therefore, the statement "Unless specific sales criteria are met, the factoring of accounts receivable with recourse is accounted for as a loan" is correct.
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Based on the findings of the study conducted by Elizabeth Hirschman, which of the following individuals is most likely to be risk averse and prefer commercials that focus on the product rather than creative impact?
A. Product and brand managers
B. Art directors
C. Copywriters
D. Creative directors
E. Product consumers
The individual who is most likely to be risk averse and prefer commercials that focus on the product rather than creative impact is: Product and brand managers (option A).
Hirschman's study found that individuals in management roles, such as product and brand managers, tend to be more risk averse and prefer advertisements that focus on the product rather than creative impact.
These individuals are responsible for ensuring that the product is marketed effectively and that the company's reputation is maintained, and therefore may be more cautious when it comes to advertising.
In contrast, individuals in creative roles such as art directors, copywriters, and creative directors are more likely to be risk takers and may prefer advertisements that are more creative and innovative.
Product consumers, on the other hand, may have a range of preferences when it comes to advertising, depending on their individual tastes and preferences.
Therefore, the correct answer is A). Product and brand managers.
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Economic costs are defined as the sum of explicit and implicit costs. (true or false)
It is absolutely incorrect, and highly irrelevant, to mention that the economic costs are the summation of explicit and implicit costs. Therefore, the said statement holds false.
The economic costs of a firm are heavily defined as the amalgamation of losses of goods owing to the value attached to them. It is also noteworthy to mention that the economic costs define the difference between the explicit as well as the implicit costs incurred by a firm in the economy during a particular period of time.
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Using the following information, what is the cost to lease a car? (Assume there are no charges for damage at the end of the lease.) Security deposit $460 Monthly lease payment $460 per month for a five year lease Opportunity cost of security deposit $460 x loan period (in years) x 3% internet
End-of-Lease charges $660
Multiple Choice A. $27,600 B. $28,989, C. $28.329 D. $28,398.
E. $28,789
The cost to lease a car is 28,398. This can be calculated by using the formula of total lease cost. The correct option is D.
What is the cost to lease?Given the Security deposit = 460
The monthly lease payment 460 per month for a five-year lease opportunity cost of the security deposit is $460 × loan period (in years) × 3% internet
End-of-Lease charges = 660
To calculate the total cost of the lease, we need to add up the security deposit, monthly lease payment, opportunity cost, and end-of-lease charges.
Using the formula: Total lease cost = Security deposit + (Monthly lease payment × Number of months) + Opportunity cost + End-of-Lease charges
Substituting the values given:
Total lease cost = 460 + (460 × 60) + (460 × 5 × 3/ 100) + 660
Total lease cost = 460 + 27600 + 690 + 660
Total lease cost = 28,398
Therefore, the correct answer is option D.
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consider the capm. the risk-free rate is 2%, and the expected return on the market is 12%. what is the beta on a stock with an expected return of 14%? a. 1.7 b. 1.5 c. 0.9 d. 1.2
The beta on a stock with an expected return of 14% is 1.2. The Capital Asset Pricing Model (CAPM) equation is used to calculate the expected return on an asset. The correct answer is option d)1.2.
The CAPM equation is as follows: r(i) = rf + beta(i)(rm - rf)where r(i) is the expected return on the asset, rf is the risk-free rate, rm is the expected return on the market, and beta(i) is the asset's beta. The given information is as follows: Risk-free rate = 2%, Expected return on the market = 12%, Expected return on the stock = 14%
Now, we have to calculate the stock's beta. The CAPM equation can be modified to calculate beta as follows: beta(i) = (r(i) - rf) / (rm - rf). We can substitute the given information into this equation as follows: beta(i) = (0.14 - 0.02) / (0.12 - 0.02) beta(i) = 1.2. Hence, option d) is the right answer.
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investment x offers to pay you $4,900 per year for 9 years, whereas investment y offers to pay you $6,500 per year for 5 years. a. if the discount rate is 5 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. if the discount rate is 23 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
In the following question, among the conditions given on investment, (a.) If the discount rate is 5 per cent, the present value of these cash flows is $42,894.23. (b.) If the discount rate is 23 per cent, the present value of these cash flows is $16,438.79.
What is the present value? Present value refers to the current value of an amount of cash in the future after a certain amount of time. It is commonly referred to as the "time value of money." It is also referred to as the amount of cash that would be required now to generate the same future amount of cash assuming a specific interest rate. Present value is important because it provides a method of evaluating cash flows that are expected to occur in the future. Investment X will pay $4,900 every year for 9 years while investment Y will pay $6,500 every year for 5 years.
If the discount rate is 5%, calculate the present value of these cash flows. Present Value of Investment X: For nine years, Investment X would pay $4,900 per year. Using a financial calculator or formula, we can find the present value of this annuity: PV = $4,900 x (1 - 1 / (1 + 0.05)⁹) / 0.05 PV = $4,900 x 6.62235 PV = $32,410.15
Present Value of Investment Y: For five years, Investment Y would pay $6,500 per year. Using a financial calculator or formula, we can find the present value of this annuity: PV = $6,500 x (1 - 1 / (1 + 0.05)⁵) / 0.05 PV = $6,500 x 4.32948 PV = $28,146.25If the discount rate is 23%, calculate the present value of these cash flows.
Present Value of Investment X: PV = $4,900 x (1 - 1 / (1 + 0.23)⁹) / 0.23 PV = $4,900 x 3.22154 PV = $15,772.52Present Value of Investment Y: PV = $6,500 x (1 - 1 / (1 + 0.23)⁵) / 0.23 PV = $6,500 x 1.68949 PV = $10,666.27Therefore, the present value of these cash flows for a 5% discount rate is $42,894.23, and for a 23% discount rate is $16,438.79.
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If you employer gives you a raise that is equal to the inflation rate, then your real salary will have increased True or False
False. If your employer gives you a raise that is equal to the inflation rate, then your nominal salary will have increased, but your real salary (purchasing power) will remain the same as before.
A measure of inflation is the rise in an economy's total level of prices for goods and services over time. The buying power of money declines when the inflation rate is positive, indicating that the same amount of money can buy fewer products and services. The nominal wage of an employee will grow, or their take-home pay will go up, if their employer provides them a raise that is equivalent to the inflation rate. Yet, their real wage, which measures the income's buying power, will stay the same as it was prior to the boost.
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interactive online advertising that has drop-down menus, built-in games, or search engines to engage viewers is known as media. (enter one word in the blank.)
The statement is completed as: Interactive online advertising, known as rich media, often has drop-down menus, built-in games, or search engines to engage viewers
Rich media advertising is a type of interactive online advertising that includes features beyond a static image and a call-to-action. This type of advertising often includes elements such as drop-down menus, built-in games, or search engines to engage viewers.
Rich media ads are designed to be more interactive and engaging, which can lead to increased user engagement and brand awareness. By providing a more immersive experience, rich media ads can capture the attention of users and keep them engaged with the content for longer periods of time.
In conclusion, the correct answer is ''rich media.''
The complete question is:
Interactive online advertising, known as ________, often has drop-down menus, built-in games, or search engines to engage viewers.
- rich media
- schedule
- evaluation
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Which of the following statements is true?If a company uses a predetermined overhead rate, actual manufacturing overhead costs of a period will be recorded in the Manufacturing Overhead account and will be recorded on the job cost sheets.The journal entry for cost of goods manufactured includes the costs of units that are partially completed.Advertising costs should NOT be charged to the Manufacturing Overhead account.Multiple Choice
A. Only statement I is true.
B. Only statement II is true.
C. Only statement III is true.
D. None of the statements are true.
The statement "If a company uses a predetermined overhead rate, actual manufacturing overhead costs of a period will be recorded in the Manufacturing Overhead account and will be recorded on the job cost sheets" is true. The correct option is A.
The manufacturing is the process of creating goods or products from the raw material in the organization.
The reason of correct statement of the company uses a predetermined overhead rate, the actual manufacturing overhead costs of a period are recorded in the manufacturing overhead account and are allocated to jobs based on the predetermined overhead rate due to the actual overhead costs are used to adjust the manufacturing overhead account balance at the end of the period.
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question content area spice inc.'s unit selling price is $55, the unit variable costs are $37, fixed costs are $119,000, and current sales are 9,600 units. how much will operating income change if sales increase by 5,700 units?
The operating income will increase by $102,600 if sales increase by 5,700 units for Spice Inc.
To calculate the increase in operating income, we need to first calculate the contribution margin per unit.
= Selling Price per unit - Variable Cost per unit= $55 - $37= $18Total contribution margin for 9,600 units
= $18 * 9,600 = $172,800Next, we can calculate the new total contribution margin if sales increase by 5,700 units:
= ($55 - $37) * (9,600 + 5,700)= $18 * 15,300= $275,400Finally, we can calculate the increase in operating income:
= Total Contribution Margin - Fixed Costs= $172,800 - $119,000= $53,800New Operating Income = New Total Contribution Margin - Fixed Costs
= $275,400 - $119,000= $156,400Operating Income Change = New Operating Income - Operating Income
= $156,400 - $53,800= $102,600Therefore, the operating income will increase by $102,600 if sales increase by 5,700 units for Spice Inc.
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Names that become synonymous with product categories like Kleenex, Kitty Litter, Jell-O, and Xerox, need to ensure they retain their brand names remain ________ so they can retain their trademark rights and avoid becoming generic.
A) meaningful
B) likable
C) protectable
D) transferable
E) adaptable
Names that become synonymous with product categories like Kleenex, Kitty Litter, Jell-O, and Xerox, need to ensure they retain their brand names remain protectable (option C) so they can retain their trademark rights and avoid becoming generic.
A trademark is a form of intellectual property that protects a product or service's brand name, logo, slogan, or other identifiers from unauthorized use. Companies and businesses use trademarks to protect their brand names and logos to prevent other businesses from using them to advertise their products or services. They also help consumers to differentiate between the products and services of different brands.
Trademark rights are a set of legal rights granted to the owner of a trademark. Trademark rights grant the owner the exclusive right to use their trademark
in connection with the products and services for which it was registered. Trademark rights allow the trademark owner to control how their trademark is used and who uses it. These rights can be used to prevent others from using a similar mark or from using a mark that is confusingly similar to the registered trademark.
In conclusion, brand names that become synonymous with product categories need to ensure they retain their brand names remain protect-able so they can retain their trademark rights and avoid becoming generic.
Therefore. the correct option is C) protect-able.
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1. An argument is a piece of information a function needs to complete its task. List five different forms that the information can take. (an argument can be any one of these types)a. A numberb. __________c. ___________d. ___________e.____________f. _____________2. T or F All functions have exactly one argument ___________3. T or F All functions have more than one argument __________4. T or F Some functions do not require an argument ____________
1. An argument is a piece of information a function needs to complete its task. List five different forms that the information can take. (an argument can be any one of these types)
a. A number
b. A string
c. A booleand.
d. An object.
e. An array. A function
2. T or F All functions have exactly one argument: False. 2. All functions do not have exactly one argument. They can have zero or more arguments.
3. T or F All functions have more than one argument: False. 3. All functions do not have more than one argument. They can have zero or more arguments.
4. T or F Some functions do not require an argument: True. 4. Some functions do not require an argument. For example, the `random` function in Python does not require any arguments to be passed to it.
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what is budget compare actual results to budgeted results?
Answer:Reports
Explanation:Budget Reports compare budgeted results to actual results. Reports can be prepared at any time and for any period
entify which of the following steps are used to prepare the income statement section of the worksheet: multiple select question. extend the expense account balances from the adjusted trial balance to the debit columns of the income statement sections confirm that total debits equal total credits extend the revenue account balances from the adjusted trial balance to the credit columns of the income statement sections calculate the total of the debit and credit columns extend the equity account balances from the adjusted trial balance to the credit columns of the inco
To prepare the income statement section of a worksheet, multiple steps are involved. The correct steps for preparing the income statement section of the worksheet are as follows: Confirm that total debits equal total credits.
Extend the expense account balance from the adjusted trial balance to the debit columns of the income statement sections. Extend the revenue account balances from the adjusted trial balance to the credit columns of the income statement sections. Calculate the total of the debit and credit columns. Extend the equity account balances from the adjusted trial balance to the credit columns of the income statement sections. What is a worksheet? A worksheet is a document that is created by an accountant in which all the accounts of the business are collected in a single sheet. A worksheet aids accountants in preparing financial statements such as the income statement, balance sheet, and cash flow statement. It is a preliminary accounting record that is used to aid accountants in the development of financial statements.
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Which of the following is a type of fraud in which an auction site bidder is actually the seller with a fake identity, who bids high drive up the price?
A. Shill bidding
B. Bid shielding
C. Bid siphoning
D. Price driver
The type of fraud in which an auction site bidder is actually the seller with a fake identity, who bids high to drive up the price is called shill bidding.
What is shill bidding?
Shill bidding is the practice of placing bids in an auction by an individual or organization to create a false impression of the auction's demand and to artificially increase the auction's closing price. Shill bidding occurs when someone places a bid on an item for sale with no intention of buying it. Shill bidders are the most frequent type of eBay scam artist, and they have a number of techniques for defrauding eBay customers. They may use various strategies to deceive people, including creating fake accounts, posing as buyers, and using fraudulent shipping documents.Shill bidders are frequently used to create an impression of high demand for an item that does not truly exist. If a seller has one or two items on eBay, they will not be able to get as much money as they would if there were ten people bidding on the same thing. Shill bidders are usually used to drive up the price of an item, although they may also be employed to push the item up to its reserve price or beyond.The other options, Bid shielding, Bid siphoning, and Price driver, are not types of fraud that are related to auctions or bidding. Therefore, shill bidding is the correct answer.
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consider what would happen if you and your nine best friends took almost all u.s. gdp. suppose you gave $3,000 per person to everyone else in the u.s. population and split the remaining gdp between you and your friends. how much would you get each year, just for yourself? round your answer to the nearest dollar.
US GDP is around $20.54 trillion. If you and your nine friends were to take almost all US GDP, then you would each get an amount of around $1.84 trillion. When you give $3,000 to everyone else in the US population, the remaining GDP would be around $17.24 trillion.
To put this into perspective, $1.72 trillion is an incredibly large amount of money. It is almost inconceivable to imagine how much this amount would be and what could be achieved with it. It could be used to fund numerous projects and initiatives.
However, even though it would be possible to achieve great things with this money, it is important to consider the ethical implications of taking and distributing such a huge amount of money. Taking almost all of the US GDP would undoubtedly have a large economic impact.
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Case Inc. Is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. Contains the following data.
Raw Materials Inventory $4,400 Manufacturing Overhead Applied $33,100
Work in Process Inventory $5,750 Manufacturing Overhead Incurred $32,200
Subsidiary data for Work in Process Inventory on June 1 are as follows.
Job Cost Sheets
Customer Job
Cost Element Rodgers Stevens Linton
Direct materials $700 $900 $1,000
Direct labor 300 500 600
Manufacturing overhead 375 625 750
$1,375 $2,025 $2,350
During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $500 incurred on account.
A summary of materials requisition slips and time tickets for June shows the following.
Customer Job Materials Requisition Slips Time Tickets
Rodgers $800 $800
Koss 1,900 800
Stevens 600 300
Linton 1,200 1,000
Rodgers 400 300
4,900 3,200
General use 1,600 1,300
$6,500 $4,500
Overhead was charged to jobs at the same rate of $1. 25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $ 20,600. Each customer paid in full
The journal entry, Work in Process Inventory Account, Schedule of Cost of goods manufactured are as follows:
General Journal:
Debit Raw Materials $4,900
Credit Accounts Payable $4,900
To record the purchase of raw materials on account.
Debit Manufacturing Overhead Incurred $1,300
Credit Accounts Payable $500
Credit Accumulated Depreciation $800
To record depreciation and miscellaneous costs incurred on account.
Debit WIP $11,000
Credit Raw materials $6,500
Credit Direct labor $4,500
To record costs incurred.
Debit WIP $6,000
Credit Manufacturing overhead $6,000
To record costs incurred.
Debit Finished Goods $ (22,750)
Credit WIP $ (22,750)
To record the transfer of WIP.
2. Work in Process Inventory Account
Beginning balance $5,750
Debit raw materials 6,500
Debit Direct labor 4,500
Debit manufacturing overhead 6,000
Credit: Finished goods (22,750)
Ending Balance $5,450
4. Schedule of Cost of goods manufactured:
Beginning WIP balance $5,750
Raw materials 6,500
Direct labor 4,500
Manufacturing overhead 6,000
Ending Balance (5,450)
Finished goods (22,750)
a) Raw Materials Inventory
Beginning balance $4,400
Debit: Accounts Payable 4,900
Credit: WIP (6,500)
Ending balance $3,200
b) Manufacturing Overhead Applied
Beginning balance $33,100
Credit WIP (6,000)
Ending balance $27,100
c) Manufacturing Overhead Incurred
Beginning balance $32,200
Debit: Accounts Payable 500
Debit: Depreciation 800
Ending balance $33,500
d) Journal entries were used/utilized to post the transactions for June to/into the ledger accounts, where the transactions were summarized, and then ending balances extracted.
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Complete question:
nstructions1. Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead cost incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods.2. Post the entries to Work in Process Inventory.3. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs.4. Prepare a cost of goods manufactured schedule for June.
Bay Crab Processor has a contract with Jim, a local crabber, to buy all the crabs Jim catches during the season for $35 per bushel. Which of the following actions would constitute a breach of the contract between Bay Crab and Jim? a. Jim sells crabs to another buyer.
b. Jim buys crabs from other crabbers at $25 per bushel so that he can sell them to Bay Crab at the contract price of $35 per bushel.
c. Bay Crab buys crabs from another crabber.
d. a and b are both breaches
e. a and c are both breaches
Jim sells crabs to another buyer would constitute a breach of the contract between Bay Crab and Jim. Therefore, the correct option is A.
A contract is a legal agreement between two or more parties that is enforceable by law. It can be either written or verbal. In the case of breach of contract, legal remedies will be available to the injured party. Contracts contain many elements that must be satisfied for it to be considered legally enforceable. For example, contracts must have an offer and acceptance, a lawful purpose, and an exchange of consideration.
A breach of contract happens when one party fails to perform one or more of the obligations set forth in the agreement. If one party does not fulfill the terms of the contract, the other party may seek a legal remedy. There are many types of breach of contract, including anticipatory breach, actual breach, and material breach.
Jim, a local crabber, has signed a contract with Bay Crab Processor, which stipulates that Bay Crab Processor would purchase all the crabs Jim catches during the season for $35 per bushel. The breach of contract, in this case, would occur if Jim sold crabs to someone else because the contract prohibits him from doing so. Option A, that is, "Jim sells crabs to another buyer," would constitute a breach of the contract between Bay Crab and Jim.
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