Again, consider Sharon, a single mother with two children under 18 who earns an annual income of $16,000. Suppose that Sharon qualifies for a
welfare program for single mothers that provides her with $500 cash for each child (a total of $1,000, since Sharon has two children). After receiving
welfare, is Sharon's family living in poverty?
O Yes
O No
Answers
Sharon and two kids makes 3 people total with both kids being under 18, the poverty level from the table is $20,231
She gets $1000 a month for her kids. 1000 x 12 months = $12,000 per year
12,000 + her annual salary = 12,000 + 16,000 = $28,000 per year.
28,000 is greater than 20,231 so she is not living in poverty.
The answer is no
Related Questions
An audit of historical financial statements most commonly includes the Group of answer choices income statement, the statement of cash flows, and the statement of net working capital. balance sheet, statement of retained earnings, and the statement of cash flows. balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity. statement of cash flows, balance sheet, and the statement of retained earnings.
Answers
Answer:
balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). Examples of financial statements includes Balance sheet, cash-flow and income statement.
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Thus, an audit of historical financial statements most commonly includes the balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity.
Your merchant fee is 3%. Your
customers paid you $2,200,000
through credit cards. What fee
must you pay the credit card
company?
$ [?]
Answers
Answer:
66,000
Explanation:
2,200,000*.03= 66,000
Managers at World Imports/Exports, an international company with operations in China and the United States, are often heard complaining about the difficulties in achieving synergy and cooperation between the employees of both the countries. After extensive research it was concluded that the cultural differences between these countries, which resulted in different work-related values, caused the lack of cooperation. In order to effectively tackle this problem, World Imports/Exports should
Answers
Answer:
vary its management processes and practices to account for these differences.
Explanation:
Considering the situation described above the World Imports/Exports should "vary its management processes and practices to account for these differences."
This is because the extensive research that was conducted showed that the main reason for the lack of synergy and cooperation between the workers in two different countries is cultural differences.
On January 2, 2013, Gant Co. purchased a franchise with a useful life of five years for $60,000 and an annual fee of 1% of franchise revenues. Franchise revenues were $20,000 during 2013. Gant projects future revenues of $40,000 in 2014 and $60,000 per year for the following three years. Gant uses the straight-line method of amortization. What amount should Gant report as intangible asset-franchise, net of related amortization in its December 31, 2013, balance sheet
Answers
Answer:
$48,000
Explanation:
The computation of the amount that should be reported as the intangible asset franchise is shown below
= Purchase value of franchise - amortization per year
= $60,000 - ($60,000 ÷ 5 years)
= $60,000 - $12,000
= $48,000
hence, the amount that should be reported as the intangible asset franchise is $48,000
Your expenses that stay the same every month, like a car payment are called _______ expenses.
A. Tracked
B. Steady
C. Fixed
D. Variable
Answers
Answer:
C
Explanation:
like a car payment are called fixed expences
A university student database, which included social security numbers and other personal identifying information, is compromised by a computer hacker. The investigation revealed that the hacker subsequently sold the personal identification information to a third party, who then proceeds to submit falsified mortgage loan applications to numerous financial institutions which resulted in approximately $5 million in losses to the financial institutions. This is an example of:
Answers
Answer:
Identity Theft
Explanation:
Identity Theft is defined as when someone steals and uses the identification or personal identifying details and information of another person such as their name, phone number, various financial card's number, etc. without their permission to do any fraud or commit other crimes.
In the context, a hacker steals the identity information and the database of a university student and sold them to some third party who proceeds to submit many falsified applications for mortgage loans to the financial institution that resulted a huge loss to the financial institution is an example of an identity theft, where the hacker steals some other person's personal information and uses them to commit frauds or crimes.
Ida moves to New York from Poland and wants to live in an apartment. However, she does not have sufficient money to buy one. Her colleague Henry said Ida can live in his old apartment for a year, if she pays him $25,000. This contract would be considered a(n) ________. Group of answer choices
Answers
Answer:
Lease
Explanation:
Lease is the contract in which one party should convey the property in terms of land, services to the other party for a particualr time and in return they would paid the periodic payment i.e. of month wise normally
so as per the given situation since she does not enough money so she pay $25,000 to him for a year that means it a lease contract between them
Why is the market demand curve for public goods calculated as a vertical summation of individual demand curves?
A. because public goods require vertical summation to account for the higher level of fairness compared to private goods.
B. because public goods are finite in availability of consumption, so the vertical summation accounts for the limit.
C. because the public good is non-rival, so you and others can consume every unit of the good at the same time.
D. because public goods are the opposite of private goods, therefore the summing must be done similar to club goods.
Answers
Answer:
c
Explanation:
A public good is a good that is non excludable and non rivalrous. Everyone has assess to the statue and because one person is enjoying the view of the statue does not means another person cannot enjoy the view of the statue. The demand curve for public goods is summed vertically because all individuals can consume every unit of the good at the same time.
A private good is a good that is excludable and rivalrous. They are usually exchanged in the market by private sector businesses. It is only you who purchased the ferrari and those you allow that can use the ferarri.
The Texas Department of Education has offices throughout the state covering more than 268,000 square miles. State
documents are stored on a large server in a central location, so that employees can access the data they need
regardless of their physical location. The type of network used by the organization is most likely a
LAN
MAN
WAN
Answers
Answer:
Wide area network (WAN)
Explanation:
A local area network (LAN) refers to a group of personal computers (PCs) or terminals that are located within the same general area and connected by a common network cable (communication circuit), so that they can exchange information from one node of the network to another. A local area network (LAN) is typically used in small or limited areas such as a set of rooms, a single building, school, hospital, or a set of well-connected buildings. Some of the network devices or equipments used in a local area network (LAN) includes an access point, personal computers, a switch, a router, printer, etc.
On the other hand, a metropolitan area network (MAN) is formed by an aggregation of multiple local area network (LAN) that are interconnected using backbone provided by an internet service provider (ISP). A metropolitan area network (MAN) spans for about 5 kilometers to 50 kilometers in size.
Basically, a metropolitan area network (MAN) spans across a geographic area such as a city and it's larger than a local area network (LAN) but significantly smaller than a wide area network (WAN).
Wide area network (WAN) can be defined as a telecommunication network that covers a wide range of geographical locations such as countries or regions across the world for the purpose of communication and sharing information and data between different users.
Hence, a network that has locations in different countries is considered a wide area network (WAN).
Generally, wide area network (WAN) makes it possible for various organizations to interconnect with their branch offices, headquarters and other multiple locations across the globe. Wide area network (WAN) usually span over a distance of 50 kilometers.
Hence, the type of network used by the organization is most likely a Wide area network (WAN).
a. The amount of each lease payment will be increased by the option price. b. The lessee must decrease the present value of the lease payments by the present value of the option price. c. There is no impact as the option does not enter into the transaction until the end of the lease term. d. The lessee must increase the present value of the lease payments by the present value of the option price.
Answers
Answer:
d). The lessee must increase the present value of the minimum lease payments by the present value of the option price.
Explanation:
The bargain purchase option refers to the clause mention in a lease contract or agreement which provides the lessee [tex]\text{to purchase}[/tex] or buy a leased asset from a person at the end of the [tex]\text{lease period}[/tex] at a price which is substantially below its [tex]\text{fair market value}[/tex].
In bargain purchase option, the present value of a [tex]\text{minimum lease payments}[/tex] can be increased by bargain purchase option. So the lessee must [tex]\text{increase}[/tex] the present value of [tex]\text{minimum lease payments}[/tex] by the present value of the [tex]\text{option price.}[/tex] This is the impact of the bargain purchase option on the present value of [tex]\text{minimum lease payments}[/tex].
Thus, the correct option is (d).
Interim financial statements refer to financial reports: Multiple Choice That cover less than one year, usually spanning one, three, or six-month periods. That are prepared before any adjustments have been recorded. That show the assets above the liabilities and the liabilities above the equity. Where revenues are reported on the income statement when cash is received and expenses are reported when cash is paid. That show assets and liabilities, but not equity.
Answers
Answer:
That cover less than one year, usually spanning one, three, or six-month periods.
Explanation:
Interim financial statements are the financial statements for a period covering less than a year.
they are used to convey the performance of a firm before the end of a full reporting cycle
Interim statements are not audited unlike the annual reports.
Components of an interim financial statement includes:
(a) condensed balance sheet
(b) condensed statement of profit and loss;
(c) condensed cash flow statement
(d) selected explanatory notes.
Match with the correct definition. Not all terms will be used.
Migration of educated professionals from a country for better pay or living conditions.
Economic principles stating that a freely competitive market works for the benefit of all.
Market situation in which each of a few producers affects but does not control the market
Market situation with only one seller for a given product or service
Two or more consecutive quarters of decline in GDP
The amount of a commodity or service that people are ready to buy for a given price.
The price determined by the movement of supply and demand
The price determined by the movement of supply and demand
The quantity of a product producers are willing to sell at a given price
Recession
inflaction
demand
oligopoly
monopoly
invisible hand
supply
market price
brain drain
Answers
Answer:
Migration of educated professionals from a country for better pay or living conditions - brain drain
Economic principles stating that a freely competitive market works for the benefit of all. - invisible hand
Market situation in which each of a few producers affects but does not control the market - oligopoly
Market situation with only one seller for a given product or service - monopoly
Two or more consecutive quarters of decline in GDP - Recession
The amount of a commodity or service that people are ready to buy for a given price. - demand
The price determined by the movement of supply and demand- market price
The price determined by the movement of supply and demand - market price
The quantity of a product producers are willing to sell at a given price supply
Explanation:
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region
Characteristics of natural monopolies
1. they have a large fixed cost
2. The firms have a low marginal cost
3. They occur naturally through the free market. It does not occur by government regulation or any other force
An Oligopoly is when there are few large firms operating in an industry. While, a monopoly is when there is only one firm operating in an industry.
Oligopolies are characterised by:
price setting firms
product differentiation
profit maximisation
high barriers to entry or exit of firms
downward sloping demand curve
The amount of a commodity or service that people are ready to buy for a given price is known as demand. demand is higher when price is lower and lower when price is higher. This is known as the law of demand.
The quantity of a product producers are willing to sell at a given price. supply is higher when price is higher and lower when price is lower. This is known as the law of supply
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
The price determined by the movement of supply and demand is known as the market price.
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
A CPA sole practitioner purchased stock in a client corporation and placed it in a trust as an educational fund for the CPA's minor child. The trust securities were not material to the CPA but were material to the child's personal net worth. Would the independence of the CPA be considered to be impaired with respect to the client? Group of answer choices No, because the CPA does not have a material indirect financial interest in the client. Yes, because the stock is a direct financial interest. No, because the CPA does not have a direct financial interest in the client. Yes, because the stock is an indirect financial interest that is material to the CPA's child.
Answers
Answer:
Yes, because the stock is a direct financial interest.
Explanation:
The principals of the AICPA Code of Professional Conduct contains the responsibilities which are to exercise sensitive professional and moral judgment, in terms of the Public Interest to always honor the public trust and perform responsibilities with the highest sense of integrity.
The 3 Parts of the AICPA code of conduct. This includes:
(1) Members in public practice
(2) Members in business
(3) Other members
In accounting, code of conduct is important as it makes individuals to accept a high degree of responsibility toward the public.
Thd independence of a covered member is impaired when:
A. The covered member has a direct financial interest in a client
B. The covered member has a material indirect financial interest in the client
Direct Financial Interest
This is simply known as the ownership interests that is directly held in a client. An example is stock ownership, even if owned in a blind trust etc.
the alocholic beverages in a private club are
Answers
Answer:
The alcohol beverages in a private club are owned by the members. Further explanation: A private club is referred to as a place to mingle and meet with individuals of similar interests. In a private club, anyone cannot just enter or join.
Explanation:
Plz mark me brainlyest
The doctrine of respondeat superior means that: a. the police are expected to respond immediately to all calls for service b. an employer may be held liable for the wrongful acts of its employees c. the federal court may assume jurisdiction over police misconduct suits involving constitutional violations d. police officers have sovereign immunity and cannot be sued for damages caused by their misconduct
Answers
Answer:
b. an employer may be held liable for the wrongful acts of its employees
Explanation:
Respondeat superior is Latin and means - let the master answer.
This is a provision of the law that states that a party is to take responsibility for the actions of their agents.
It is also called the master-servant rule and is used in both common and civil law.
An employee is the agent of an employer. So any liability that results from the action of the employee is binding on the employer
How does microfinance benefit an economy?
Answers
Answer:
it enables people to use money wisely
Explanation:
this is because a specific amount of money will be provided for a specific reason
Rapida Inc. and Click Inc. are two companies that have been manufacturing typewriters for almost 30 years. Due to the reduced demand for typewriters today, both companies' average return on invested capital is approximately –5 percent. The current industry average is 2 percent. In this scenario, Rapida Inc. and Click Inc. most likely have
Answers
Answer:
The answer is "competitive parity with each other".
Explanation:
It refers to spending on a level equal to your opponents, while you spend more on performing than our competition in a competitive edge. The goods offered by the competitors are each were and can easily be swapped with the product.
It is a defensive strategy used by companies, whilst still the financial resources, to protect their image, brand & positioning. A sector where, compared to others in your sector, you achieve ordinary or average results.
When Deer Valley Resort Co. (DVRC) was developing its ski resort in the Wasatch Mountains near Park City, Utah, it sold parcels of land in the resort village to third parties. Each sales contract reserved the right of approval over the conduct of certain businesses on the property, including ski rentals. For fifteen years, DVRC permitted Christy Sports, LLC, to rent skis in competition with DVRC’s ski rental outlet. When DVRC opened a new midmountain ski rental outlet, it revoked Christy’s permission to rent skis. This meant that most skiers who flew into Salt Lake City and shuttled to Deer Valley had few choices: they could carry their ski equipment with them on their flights, take a shuttle into Park City and look for cheaper ski rentals there, or rent from DVRC. Christy filed a suit in a federal district court against DVRC. Was DVRC’s action an attempt to monopolize in violation of Section 2 of the Sherman Act? Why or why not? [Christy Sports, LLC v. Deer Valley Resort Co., 555 F.3d 1188 (10th Cir. 2009)] (See Monopolization.)
Answers
Answer:
Yes, In this case DRVC acted alone so Sherman Act may apply.
Explanation:
Sherman acts states that every person who shall monopolize or attempts to monopolize or conspire with other person to monopolize any part of trade among the several states with foreign nations shall be deemed guilty of a felony. This act can be violated by one or more persons.
what type of government action is part of fical policy
Answers
"The big white house on the hill clearly" was different from any of the other homes in the subdivision. It had more rooms, a double lot, and a large oversized garage and the house was bigger than the smaller homes on either side of it. The homeowner decided to sell the home and was very surprised when the appraiser did not give him the value that he had expected. In this case, the appraiser used the principle of:
Answers
Answer: Functional Obsolescence
Explanation:
Functional Obsolescence could be described as when a product is undervalued than what is expected due it's composed of outdated features.
Most very old homes are usually outdated. Innovation spring forth every day, especially in the area g homes, homes that are commercially rented are portable and have recent designs, but for homes that are not they may not be valued for what they should or what the seller expects. This is the scenario with homeowner.
Answer:
Conformity
Explanation:
a house that is built differently than the houses in the area actually may have a decrease in value.
Sunshine Meals Inc. is a company that sells breakfast foods such as cereals and pancake mixes. The company conducts a study to segment its consumers. It finds the following segments: Segment A: Consists of a small group of individuals who purchase four boxes of the brand's cereal every week. In comparison, the average user consumes one box every week. Sunshine targets segment A by providing them with samples of other Sunshine products with the purchase of one box of cereal. Segment B: Consists of a large number of college students and individuals who have recently begun living on their own and require ready-made mixes as their breakfast solution. Sunshine targets these consumers by providing more variety with pancakes and waffle mixes. Segment C: Consists of consumers who are not consistently buyers. Targeting these consumers could prove a loss for the company.
Answers
Answer: Niche marketing
Explanation:
Your question isn't complete but the remainder has been added as the comment.
Niche marketing simply refers to the promotion and the sale of a product to a specialized segment in the market. Niche market is the segment of a larger market which has its own unique needs, and preferences.
If Sunshine Meals Inc. begins producing a range of sugar free marmalades to target a small segment of health conscious consumers who would be willing to pay a premium price for products appropriate for their diets, then it's refered to as niche marketing.
Suppose that a small business takes in monthly revenue of $100,000. Labor, rental, energy, and other purchased input costs are $70,000. The owner/entrepreneur could earn $5,000 per month in another job, and the owner/entrepreneur could get a return of $5,000 each month if she sold her business and invested the net proceeds in a financial asset, such as a treasury bond. Which of the following correctly describes her monthly economic profit? 55. If an SUV purchased in 2018 costs $50,000 and weighs 5,800 pounds, the maximum depreciation expense that can be taken is:
A. $50,000
B. $18,000
C. $16,000
D. $9,600 .
Answers
Answer and Explanation:
The economic profit is
Economic profit = Total revenue - (Explicit costs + Implicit costs)
where
Total revenue is $100,000
Explicit costs are $70,000
Implicit costs are $10,000 (opportunity costs)
Now
Economic profit = $100,000 - $70,000 - $10,000
= $20,000
In the case of small cars that within 6000 lbs, the depreciation should be capped at $18,000 for the first year
Hence, the option b is correct
Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.
Which questions should she consider before she buys the jacket? Check all that apply..
Answers
“If I buy the designer jacket, is it going to increase value in the future so I can sell it?”
“Can I afford the designer jacket?”
“Is the cheaper jacket good quality?”
Jake, a store keeper at Triscent Hypermarket, is accused of stealing food products from the store. When confronted by his manager, Jake justifies his act by claiming that his monthly pay is not sufficient to support his family of five members. In this scenario, the defense mechanism used by Jake is _____. Group of answer choices conversion fantasy flight rationalization
Answers
Answer:
Rationalisation
Explanation:
Rationalisation is the attempt by an individual to justify an action, behaviour, or attitude with logical reasoning. Mostly the reasons given are not appropriate enough.
In the given instance Jake is accused of stealing food products from the store, he justifies his act by claiming that his monthly pay is not sufficient to support his family of five members.
This is not enough reason to still but he still tries to rationalise his action based on his low salary.
Thomas and stephani are married with four qualifying children. Their earned income is 28500. Calculate the eic using the eic formula
Answers
Answer:
$6,557.
Explanation:
Following the eic formula, The eic of Thomas and Stephani filling as jointly married with over 3 children and an income < $55952 is = $6,557.
using the eic formula
= $6557
Assume that $17,800 cash is paid for insurance to cover the next year. The appropriate debit and credit would be: Multiple Choice Debit Prepaid Insurance $17,800, credit Cash $17,800. Debit Cash $17,800, credit Prepaid Insurance $17,800. Debit Insurance Expense $17,800, credit Prepaid Insurance $17,800. Debit Prepaid Insurance $17,800, credit Insurance Expense $17,800.
Answers
Answer:
debit prepaid insurance $17,800, credit cash $17,800.
Explanation:
Based on the information given Assume that the amount of $17,800 cash is paid for insurance to cover the next year, The appropriate debit and credit would be:
Debit prepaid insurance $17,800
Credit cash $17,800
On January 1, 2021, Nana Company paid $100,000 for 8,300 shares of Papa Company common stock. The ownership in Papa Company is 10%. Nana Company does not have significant influence over Papa Company. Papa reported net income of $55,000 for the year ended December 31, 2021. The fair value of the Papa stock on that date was $63 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2021
Answers
Answer:
$522,900 will be reported in the balance sheet of Nana Company for the investment in Papa on December 31, 2021
Explanation:
The amount That will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2021, can be calculated using the following formula
Amount of Investment = Total Numbers of shares x Fair value of Papa stock
Where
Total Numbers of shares = 8,300 shares
Fair value of Papa stock = $63 per share
Placing values in the formula
Amount of Investment = 8,300 x $63
Amount of Investment = $522,900
Did the demand curve shift during the coronavirus?
Answers
Answer:
Yes, it is correct to say that the demand curve shifted during the coronavirus, as the pandemic was an unexpected event that caused a planned economic recession, with the main objective of reducing production levels and demand in order to contain the pandemic.
One of the examples was the legislation that forced the closing of stores and restaurants in order to reduce the circulation and agglomeration of people in order to reduce the contagion by the virus, which caused a drop in demand and jobs.
"One should have deep interest in the profession he/she is going to choose." Justify the statement.
Answers
Answer- yadav le sikayena?? no fear when i am here
"One should have a deep interest in the profession he/she is going to choose" yes, the statement is true because each profession is likely to have both positive and negative aspects. One should choose the profession which has more positive aspects than negatives ones.
Explanation:
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As we read in the textbook, Franz Colruyt has achieved low-cost leadership through --------. Group of answer choices effective use of voice mail plastic, not paper, shopping bags background music that subtly encourages shoppers to buy more converting factories, garages, and theaters into retail outlets exclusive use of the Euro currency
Answers
Answer:
converting factories, garages, and theaters into retail outlets
Explanation:
Franz Colruyt has achieved low-cost leadership through converting factories, garages, and theaters into retail outlets.
All the other methods are not used by Franz Colruyt, Hence they are incorrect with respect to this answer.
Hence the correct option is " converting factories, garages, and theaters into retail outlets "
