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.
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.
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.
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.
"One should have deep interest in the profession he/she is going to choose." Justify the statement.
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:
Mark me as brainlist, don't forget! BUJIRAXA NI TYAa
Your merchant fee is 3%. Your
customers paid you $2,200,000
through credit cards. What fee
must you pay the credit card
company?
$ [?]
Answer:
66,000
Explanation:
2,200,000*.03= 66,000
what type of government action is part of fical policy
Choose the correct answer from the alternatives given below
1.1.1
The state aims to bring about a more equal distribution of income by using...
A. Proportional personal income tax
В. Progressive personal income tax
C. Regressive personal income tax
Answer: proportional personal income tax
Explanation: because it gives everyone the same about of tax no matter the income
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.
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
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
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.
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
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
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
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 "
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
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
For an agreed upon fee, a pest control company properly treated a residence for termites. In addition, the company entered into an agreement with the homeowner that, in exchange for an additional annual fee, the company would repair any damage to the residence caused by termites for four years. The day after the homeowner paid the final annual fee at the beginning of the fourth year of the agreement, he discovered a termite infestation in the home while changing a light bulb in his basement. The homeowner took no action until the final month of the agreement, when he notified the pest control company of the infestation. The pest control company refused to repair the termite damage. The homeowner then hired a contractor to repair the termite damage at a cost of $25,000. Had the homeowner notified the pest control company when he first discovered the termite infestation, the cost to repair the termite damage to the residence would have been $3,000. The homeowner sued the pest control company for breach of their annual repair agreement. What damages should the court award to the homeowner
Answer: $3,000, because the homeowner failed to timely notify the company of the termite infestation.
Explanation:
It should be noted that a party to a contract shouls be able to curtail damages to a property and therefore avoid undue risk or expense that may be incurred.
Based on the question, the homeowner could have easily avoided the $25000 paid for the costs of the repairs if he didn't delay the notifying of the pest control company.
Therefore, based on this scenario, the homeowner's damages will be limited to the amount of $3000. Therefore, the damages that the court should award the homeowner is $3,000, because the homeowner failed to timely notify the company of the termite infestation.
Thomas and stephani are married with four qualifying children. Their earned income is 28500. Calculate the eic using the eic formula
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
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
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
How does microfinance benefit an economy?
Answer:
it enables people to use money wisely
Explanation:
this is because a specific amount of money will be provided for a specific reason
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 .
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
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
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 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
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?
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.
the alocholic beverages in a private club are
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
Ram has been unemployed for the past one year as he worked in the travel and tourism industry which took a very bad hit as a result of the pandemic. This is an example of: a:Inequalities of the society b: sociological imagination c: pluralities in the society d: function of society
Answer:
inequalities of a society
Explanation:
This is an example of inequalities of a society. This is because this term refers to the differences in the quality of life of all the individuals in a society. This includes, family, assets, and even current employment as in this situation. As Ram has been unemployed due to factors that are out of his control, while those same factors have not affected others in the same manner within the society and therefore creates inequalities within the society.
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.
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.
Swifty Corporation thinks machine hours is the best activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $1550000. The company used 1000 hours of processing on Job No. B12 during the period and incurred overhead costs totaling $1700000. The budgeted machine hours for the year totaled 20000. How much overhead should be applied to Job No. B12
Answer:
Allocated MOH= $77,500
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 1,550,000 / 20,000
Predetermined manufacturing overhead rate= $77.5 per machine hour
Now, we can allocate overhead to Job B12:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 77.5*1,000
Allocated MOH= $77,500
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.
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.
Which of the following is an example of the law of diminishing marginal returns? A. Holding capital constant, when the amount of labor increases from 5 to 6, output increases from 20 to 25. Then when labor increases from 6 to 7, output increases from 25 to 28. B. When capital and labor both increase by 20 percent, output increases by only 15 percent. C. When labor increases by 20 percent and capital decreases by 15 percent, output remains constant. D. Holding capital constant, when the amount of labor increases from 7 to 8, output increases from 36 to 42. Then when labor increases from 8 to 9, output increases from 42 to 50.
Answer:
A. Holding capital constant, when the amount of labor increases from 5 to 6, output increases from 20 to 25. Then when labor increases from 6 to 7, output increases from 25 to 28
Explanation:
Law of diminishing marginal revenue states that in a production process as more of an input is added it results in smaller increase in output over time.
As larger amount of input is added it will result in reduced per unit incremental returns.
When amount of labour increases from 5 to 6, output increases from 20 to 25. That means every additional unit of labour results in 5 units of output.
However when labor increases from 6 to 7, output increases from 25 to 28. This means that now a unit increase in labour has resulted in only 3 units increase in output.
This exemplifies the law of diminishing marginal revenue.
Which of the following is true about career goals?
A. They should not require a great deal of hard work to reach them.
B. Most goals should be so ambitious that it would be unlikely that
you actually reach them. This will push you to achieve as much as
possible.
C. Goals are not actually things that can be measured to say whether
they have been met or not.
O D. They should usually be significant enough that they cannot be
reached in one easy step.
Answer:
B. Most goals should be so ambitious that it would be unlikely that you actually reach them. This will push you to achieve as much as possible
Explanation:
Goals are that objective of life that one strives to achieve and are necessary to attain as they help in finding the right path and attainment of the desired outcomes. Goals are an impotent component of personality. Goals should motivate the persons to achieve them.Answer:
the answer is D
Explanation:
just did it
What is true about contemporary Indian Economy
Answer:
There is a great scope for its growth in the future.
Hope this helps.
Question Mode Multiple Choice Question The definition of a business is: Multiple choice question. an organization that provides services to a community a socially responsible organization that is a not for profit any organization that provides goods to a community while operating at a profit an organization that seeks to provide goods and services to others while operating at a profit
Answer:
An organization that seeks to provide goods and services to others while operating at a profit.
Explanation:
A business is an organization or a commercial entity engaged in activities that will provide services and gain profit(s). In other words, we can say that a business is a commercial organization that works to provide services and goods to others while incurring profit in the process.
Among the given definitions, the best definition of a business is "an organization that seeks to provide goods and services to others while operating at a profit." This means that businesses seek to provide goods and services to others to get profits from such acts.
Thus, the correct answer is the fourth option.
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
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.
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:
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.
