Complete Question:
Smith Commercial Development has effective control processes, allowing its managers to discover ______ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
Group of answer choices
A. irregularities and errors
B. team problems
C. a potential merger
D. tax breaks
E. competence
Answer:
A. Irregularities and errors.
Explanation:
In this scenario, Smith Commercial Development has effective control processes, allowing its managers to discover irregularities and errors in bookkeeping right away, before a would-be embezzler could seriously affect its business.
Generally, managers are saddled with the responsibility of controlling various aspects of an organization (business) and as such are required to improve the effectiveness of their control processes. An effective control process ensure that every information at various levels of organization such as bookkeeping (financial statements) are accurate through the use of corrective actions.
Consider the market for DVD movie rentals, which is perfectly competitive. The market supply curve slopes upward, the market demand curve sloped downward, and the equilibrium rental price equals $3.50. Consider each of the following events, and discuss the effects they will have on the market clearing price and the demand curve faced by the individual rental store.a. People’s tastes change in favor of going to see more movies at cinemas with their friends and family members.b. National DVD-rental chains open a number of new stores in this market.c. There is a significant increase in the price of downloading movies on the Internet.
Answer:
a. price falls, the demand curve moves inward
b. price falls, the demand curve moves inward
c, price rises, the demand curve moves outward
a. A change in people's taste for going to cinema would reduce the number of people going to movie rentals. As a result, the demand for movie rentals would reduce and move inward or leftward. As a result of the inward movement of the demand curve, supply would outstrip demand and prices would fall below $3.50
b. If a National DVD-rental chains opens nationwide, there would be a decrease in demand for DVD movie rentals. As a result, the demand for movie rentals would reduce and move inward or leftward and price falls
A rise in the price of downloading movies on the Internet would increase the cost of downloading movies. This would make people less interested in downloading movies. As a result, the demand for DVD movie rentals would increase. The demand curve would shift outward and price would rise as a result.
Explanation:
Check the attached image for a graphical representation
Karen Smith bought Coca-Cola stock for $475 on March 31, 20X1. On November 15, 20X1, Karen received a non-taxable distribution of $155 on the 50 shares of stock she owned. She sold the stock for $300 on December 22, 20X1. What is her gain or loss on the sale
Answer:
$20 loss
Explanation:
Karen Smith bought a coca-cola stock for $475 in March 31, 20X1
She received a non taxable distribution of $155 on November 15, 20X1
The first step is to calculate the adjusted basis
= $475-$155
= $320
Karen sold the stock for $300 on December 22, 20X1
Therefore, her gain or loss on the sale can be calculated as follows
= $300-$320
= $20 loss
Hence Karen has a loss of $20 on the sale
Which of the following is an element of a CPA firm’s quality control policies and procedures applicable to the firm’s auditing practice? Acceptance of a client relationship. Efficiency of organizational structures. Computer information processing. Professional skepticism of management.
Answer:
The correct answer is A
Explanation:
In addition to Independence, Integrity, and Objectivity ; Personnel Management ; Engagement Performance ; and Monitoring
the Public Accounting rules of Quality Control Standards require that a firm, as a matter of policy, must continually practice the Acceptance and Continuance of Clients and Engagements .
Cheers!
The Bureau of Labor Statistics reported the CPI stood at 215.9 in December 2009, while one year earlier it was 210.2. Suppose Janice's nominal income rose by 4% from December 2008 to December 2009 while Jeff's increased by only 2%. By what percentage did each of their real incomes change?
Answer:
Annual rate of inflation = [(215.9 - 210.2) / 210.2] * 100
Annual rate of inflation = 2.7%
Real income change = Nominal income change - inflation rate
Janice Real income change = 4% – 2.7%
Janice Real income change = 1.3%
This means Janice's real income did increase by 1.3%.
Jeff Real income change = 2% – 2.7%
Jeff Real income change = -0.7%
This means Jeff's real income did decrease by 0.7%.
Predictive analytics is used for all of the following exceptâ:
a. establishing consumer credit scores.
b. forecasting driver safety.
c. identifying the most profitable customers.
d. anticipating customer response to price changes.
e. determining the best routes for product delivery. .
Answer: determining the best routes for product delivery.
Explanation:
Predictive analytics is designed I order to help determine the effects of changes that occurs in a business environment.
It can be used for establishing consumer credit scores, forecasting the safety of drivers, identifying the most profitable customers and also anticipating customer response to price changes.
It is not used for determining the best routes for product delivery.
Which of the following causes the master budget variance between the amounts in the master budget and the flexible budget of a revenue center?
A. The number of units sold differs from planned sales levels
B. The cost of sales
C. The selling price per unit
D. Both the selling price and the number of units sold
Answer:
A. The number of units sold differs from planned sales levels.
Explanation:
The difference in the master budget and flexible budget lies in the level of operation (sales units). That is the planned sales levels included in muster budget are usually different from the actual sales levels included in the flexible budget.
Shelley has been hired as a marketing specialist at a large, international firm. On Shelley's first day of work, she attends an orientation session. Which of the following is LEAST likely to be addressed during Shelley's orientation program?
a. Company policies and rules
b. Organizational structure
c. Daily and weekly task requirements
Answer: Daily and weekly task requirements
Explanation:
From the question, we are informed that Shelley has been hired as a marketing specialist at a large, international firm and that on Shelley's first day of work, she attends an orientation session.
The least likely to be addressed during Shelley's orientation program will be the daily and weekly task requirements. This is because this is really not important at the orientation.
There are other important things to talk about such as the organization Structure, company policies etc.
At a listing appointment, the seller of a large, expensive home on the water gives specific instruction to the sales associate not to show the home to anyone from a certain protected class. The sales associate tells the seller this is a clear act of discrimination, but the property owner insists. The sales associate should
Answer:
refuse the listing
Explanation:
In the scenario being described, the sales associate should refuse the listing. This is because such discrimination due to race, color, religion, sex, disability, familial status, or national origin is a violation of the Fair Housing Act. If the realtor is accused of discrimination she can face civil penalties of $16,000 USD if it is the first offense or even up to $65,000 if it has been a repeated violation of the Fair Housing Act.
Honda's new electric unicycle is very unique. It is steered by the rider leaning, computer stabilized through control of its single crabbing wheel (it can move sideways). It has a range of about 3 miles at 3 miles per hour. It takes on hour to recharge. It only weighs 25 pounds, so it can be carried. The cost would be about $2000. The only good reason to produce this would be that
Answer: Honda could get a lot of notice as innovative company
Explanation:
From the question, we are informed that Honda's new electric unicycle is very unique and that it is steered by the rider leaning, computer stabilized through control of its single crabbing wheel.
It also has a range of about 3 miles at 3 miles per hour, takes n hour to recharge and only weighs 25 pounds, so it can be carried while the cost would be about $2000.
The only good reason to produce this would be that people and every other organization will notice Hinds as being a company that is innovative. This will be advantageous for its brand.
Once a document conveying an interest in real property is placed in the public records it is binding on the public, whether or not they make an effort to learn of it. Based on the common law tradition, this policy is known as the:________.
a. Statute of Frauds
b. doctrine of constructive
c. notice habendum clause
d. actual notice
Answer:
b. doctrine of constructive
Explanation:
According to the doctrine of constructive, the company or the people under the provisions of the companies law should have the knowledge of memorandum of association and the article of association but there is an exception towards the indoor management
Here in the given situation, represents the doctrine of constructive scenario
Hence, the correct option is B.
DEF Company is incorporating and coming to market with an initial public offering of common stock. The company has already filed their registration statement and the registration has become effective. The company sees that demand for securities is high, and decides to amend the total amount of common stock that will be offered. Would this amendment be allowable under the rules of the Uniform Securities Act
Answer: Yes. The amendment be allowable under the rules of the Uniform Securities Act.
Explanation:
Based on the scenario that have been provided in the question,the amendment will be allowable under the rules of the Uniform Securities Act.
It should be noted that even though the amendments that are made to a registration statement are not allowed when it's beyond the effective date, there is a limited exception when the modification is made to the amount of securities that are being offered.
The best method for determining future social media targets is to establish benchmarks. You can do this by __________________.
Answer:
Extrapolating data from past efforts to estimate future success.
Explanation:
It can be done by “extrapolating the data from past efforts to estimates future success” because the past trend can be seen with the help of data and these trends are used to forecast future situations and it helps to plan the new policies and tactics that achieve the future target. Moreover, the analysis of data will also help to reach the social media target because it will tell how to work to reach the benchmark.
The Quimbys obtain a loan that starts out at 5.5% interest. After five years, the interest rate will adjust to whatever the current market rate is and adjust every year thereafter. This is a/an
Complete Question:
The Quimbys obtain a loan that starts out at 5.5% interest. After five years, the interest rate will adjust to whatever the current market rate is. This is known as a/an:
Group of answer choices
a. two-step mortgage
b. balloon/reset mortgage
c. wraparound mortgage
d. interest-only mortgage
Answer:
a. two-step mortgage.
Explanation:
In this scenario, The Quimbys obtain a loan that starts out at 5.5% interest. After five years, the interest rate will adjust to whatever the current market rate is and adjust every year thereafter. This is a two-step mortgage.
A two-step mortgage can be defined as an adjustable-rate mortgage (ARM) which typically offers two interest rates; a beginning (fixed) interest rate for the first five to seven years period and a another interest rate for the remaining period of time.
The fastener division of Southern Fasteners manufactures zippers and then sells them to customers for $8 per unit. Its variable cost is $3 per unit, and its fixed cost per unit is $1.50. Management would like the fastener division to transfer 12,000 of these zippers to another division within the company at a price of $3. The fastener division could avoid $0.20 per zipper of variable packaging costs by selling internally. Determine the minimum transfer price.
Answer and Explanation:
The computation of the minimum transfer price is shown below:
a. For Not operating at full capacity
Minimum transfer price = Variable cost + Opportunity cost
= $3 - $0.20 + 0
= $2.80
b. For operating at full capacity
Minimum transfer price = Variable cost + Opportunity cost
= $2.80 + $8 - $3
= $2.80 + $5
= $7.80
We simply applied the above formulas
So, that the each part could come
Production possibilities frontiers are usually bowed outward. This is because a. resources are specialized; that is, some are better at producing particular goods rather than other goods. b. of the effects of technological change. c. the opportunity cost of producing a good decreases as more and more of that good is produced. d. the more resources a society uses to produce one good, the fewer resources it has available to produce another good.
Answer:
d. the more resources a society uses to produce one good, the fewer resources it has available to produce another good.
Explanation:
The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all of its resources are fully utilised.
As more quantities of a product is produced, the fewer resources it has available to produce another good. As a result less of the other product would be produced. So, the opportunity cost of producing a good increases as more and more of that good is produced.
Please check the attached image for a diagram of the Production possibilities frontiers
Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of
Complete Question:
Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of?
Group of answer choices
A. expected merchandise
B. sample merchandise
C. staple merchandise
D. seasonal merchandise
E. fashion merchandise
Answer:
C. Staple merchandise.
Explanation:
In this scenario, Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of staple merchandise.
A staple merchandise typically comprises of finished goods, which are regularly being purchased, displayed and sold by the retailers in order to meet the need or want of the consumers. Some examples of staple merchandise are detergent powder, bread, milk, egg, butter, salt, sugar etc.
Cat's Coaster Company uses cork in all of the protective drink coasters that it manufactures. If Cat's enters into an agreement with a cork exporter from Portugal to purchase all of the cork it needs to produce its products, this would be Multiple Choice a requirements contract. a necessities contract. an output contract. an input contract.
Answer:
a requirements contract
Explanation:
Since in the question it is mentioned that the company used its cork for the protective drinks and if Cat comes into an agreement with a cork exporter in order to buy all of the cork that is required to manufacture the products. This would represent the requirement contract
As the requirement contract is the contract in which the purchased agrees to buy all the goods that are required from a seller
An appraiser must not allow the intended use of an assignment or a clientâs objectives to cause the assignment results to be _________.
Answer:
biased
Explanation:
In general an appraiser must not allow assignment results to be biased. This is strictly stated in the Standards Rule 1-1(a) which states the following: "An appraiser must “be aware of, understand, and correctly employ those recognized methods and techniques that are necessary to produce a credible appraisal." Therefore, the appraiser must do everything in his/her power to provide credible and non-biased appraisals everytime.
Jeremy reminded the board members that it is important to understand the inflation rate of a country before entering into business. Jeremy is concerned with the ________ risks of doing business.
Answer:
Economic risk
Explanation:
Economic risk is defined as the probability that a business venture will fail in a foreign country as a result of a macroeconomic factor such as inflation, exchange rate, government regulation, and politics.
Inflation is the tendency of money losing its purchasing power.
In this scenario Jeremy is trying to understand the inflation rate of a country before entering into business.
He is weighing the risk of making loss as a result of inflation in the country
An October sales forecast projects 7,000 units are going to be sold at a price of $11.50 per unit. The desired ending inventory in units is 15% higher than the beginning inventory of 1,000 units. Total October sales are anticipated to be a.$70,000 b.$80,500 c.$92,000 d.$69,000
Answer:
$80,500
Explanation:
An October sales forecast project 7,000 units which is going to be sold at the price of $11.50 for one unit
The desired ending inventory is 15% higher than the beginning inventory which is set at 1,000 units
Therefore, the total October sales can be calculated as follows
Total October sales= 7,000 × $11.50
= $80,500
Hence the total October sales is anticipated to be $80,500
Name some eco-friendly features you might look for while shopping for your first vehicle
Also, explain techniques you can use while driving any vehicle to increase fuel efficiency and reduce emissions it’s for my ed class
Answer
Some Eco friendly features you might look for may include a gas efficiency button to regulate between gas and electric motors thus decreasing emissions. another great pointer is LED lights instead of older bulb lights, Most pivotal idea in buying the most Eco friendly car would have to be the weight most definitely, the lighter the vehicle the less environmental impact.
Joseph Brown signs a contract with Lewis Johnson allowing Johnson to buy Brown's home for $63,200 anytime between the date of the contract and the following February 8. Brown also agrees not to sell his home to anyone else until after February 8 and received $300 as consideration. This contract is called
Answer:
An option.
Explanation:
In this scenario, Joseph Brown signs a contract with Lewis Johnson allowing Johnson to buy Brown's home for $63,200 anytime between the date of the contract and the following February 8. Brown also agrees not to sell his home to anyone else until after February 8 and received $300 as consideration. This contract is called an option.
An option is a contract (financial derivatives) which provide buyers the right, however not the obligation, to buy or sell an underlying asset at an agreed price and specified period of time (date). It comprises of call options and put options.
By the end of the accounting period, employees have earned salaries of $500, but they will not be paid until the following pay period. Which of the following is the proper adjusting entry? A) Credit Salaries expense for $500. B) Debit Salaries payable for $500. C) Credit Unearned revenues for $500. D) Debit Salaries expense for $500.
Answer:
D) Debit Salaries expense for $500.
Explanation:
Preparation of the proper adjusting entry
Since we were told that employees have earned salaries of the amount of $500 in which they wont be paid until the following pay period which means that the adjusting entry will be:
Debit Salaries expense for $500
Attorney represented Baker in a claim involving a breach of Baker's employment contract. The case was settled without suit being filed. The proceeds of the settlement were paid directly to Baker~ who subsequently paid Attorney in full for Attorney's fee and expenses. Thereafter, Attorney did no other work for Baker. Baker is now being audited by the Internal Revenue Service (IRS). The IRS has asked Attorney for details of the settlement, including the amount claimed for each item of damage and the amounts paid for the items. Attorney reported the request to Baker who told Attorney not to provide the information to the IRS. Is it proper for Attorney to furnish the information to the IRS
Answer:
It is proper for the attorney to furnish the information to the IRS in-order to do a suitable audit on Baker on the tax which he or she is eligible to pay for. Withholding such information would amount to preventing them from doing a detailed job which on the long run would amount to filing false tax claim by Baker.
Explanation:
Mason Company paid its annual property taxes of $240,000 on February 15, 20X9. Mason also anticipates that its annual repairs expense for 20X9 will be $1,200,000. This amount is usually incurred and paid in July and August when operations are shut down so that machinery and equipment can be repaired. What amount should Mason deduct for property taxes and repairs in each quarter for 20X9?
Answer:
$360,000 per quarter
Explanation:
we must allocate both property taxes and annual repairs expenses equally to each quarter:
total payments = property taxes + annual repairs = $240,000 + $1,200,000 = $1,440,000
allocation to each quarter = $1,440,000 / 4 quarters = $360,000 per quarter
Accrual accounting states that expenses must be recorded when they occur and not necessarily when they are associated with a cash outflow. Since both payments involve the whole year, they must be distributed equally in all 4 quarters.
The ability of a multinational or global competitor to shift production from country to country to take advantage of exchange rate fluctuations, energy costs, wage rates, or changes in tariffs is an example of Multiple Choice cross-market subsidization. cross-market differences in cultural, demographic, and market conditions. an international strategic alliance. cross-border coordination. a profit sanctuary.
Answer: an international strategic alliance.
Explanation:
A strategic alliance is when two companies come together and cooperate in order to enjoy a mutual benefit.
Therefore, an international strategic alliance is the ability of a multinational or global competitor to shift production from country to country to take advantage of exchange rate fluctuations, energy costs, wage rates, or changes in tariffs.
Answer:
Correct Answer:
5. A profit sanctuary.
Explanation:
The aim of every business establishment is to maximize profits while at same time minimize to the barest minimum the cost associated in running the business. For example a car manufacturing company relocating from U.S to Canada due to favorable tariffs is in-order to protect and maximize their profits. This is an example market scenario movement called profit sanctuary
Jeremy is a business student at ABC University. He is currently enrolled for 18 credits, mostly of quantitative courses with high workloads. He also works 25 hours a week as a bartender. Final exams are coming soon and he is worried about his grades. How would you characterize the cause(s) of Jeremy's stress?
Answer: work overload
Explanation:
From the question, we are informed that Jeremy is a business student at ABC University and that he is currently enrolled for 18 credits, mostly of quantitative courses with high workloads.
We are further told that he also works 25 hours a week as a bartender. This shows that Jeremy has many works he's doing and the likely cause of his stress is work overload. He's performing too much tasks.
Andy tells Ervin and Marina that everyone will lose their jobs if the company goes out of business, whether they have guild protection or not. Which influence tactic is Andy most likely utilizing?
Answer:
Pressure
Explanation:
Influence Tactic are ways a leader tries to influence people working with him to do a particular task or improve performance.
Among the influence tactics available, the influence tactic that Andy is most likely utilizing when he says that everyone would lose their jobs if the company goes out of business, regardless of guild protection is Pressure.
Pressure as an influence tactic tries to influence people through the use of threats, demands, or intimidation to get them to agree with a request.
Kickstarter is known as a(n) ___ website because it allows the general public to provide financial support to organizations and individuals that are working on a new product.
Answer: crowdfunding
Explanation:
Crowdfunding is when a project is being funded by collecting little amounts of money from the people, usually through Internet.
Kickstarter is known as a crowdfunding website because it allows the general public to provide financial support to organizations and individuals that are working on a new product.
In marketing channels for business products, an intermediary that performs a variety of marketing channel functions including selling, stocking, delivering a full product assortment, and financing is referred to as
Answer: Industrial distributors
Explanation: Industrial distributors could be described as independent businesses or setups who acts as intermediary between businesses. Generally, industrial distributors deals with bulk supply and stocking of products which are usually used by production firms rather than that which is sold to the end users or consumers. Industrial distributors usually ease the woes of most businesses who are into production of goods and services, the industrial distributors supplies these businesses with the required materials needed for their production. Industrial distributors also make shipping of these goods in bulk from some manufacturers before selling to other business outlet who require the materials for production.
