Answer:
Freedom of choice.
Explanation:
The freedom of resource which allow owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate: is generally referred to as the freedom of choice.
Freedom is one of the essential virtues or elements of a typical market system amongst incentives and efficiency.
A freedom of choice avails individuals and organizations the opportunity or privilege to make decisions and reasoned selection as they deem it fit.
what influences the costumer when she or he is deciding whether to buy a product
Answer:
Price
Explanation:
While there could be more than one factor that influences a customer's decision to buy a product, the underlining factor that has the most weight with regards to decision making is the price.
If a customer wants to buy a jacket that costs $4.99 and sees another store selling a jacket of the same quality or even less quality at $3.50, he is likely to buy the cheaper one in order to save some extra cash. It is linked with the purchasing power of the customer.
John and Fred owned, as joint tenants with right of survivorship, business property that they purchased for $40,000. John furnished one fourth of the purchase price and Fred furnished three fourths of the purchase price. Depreciation deductions allowed before Fred's death were $8,000. Under local law, each had a one half interest in the income from the property. At the time of Fred's death, the fair market value of the property was $80,000, three fourths of which is includable in Fred's estate. What is John's basis in the property at the date of Fred's death
Answer:
$66,000
Explanation:
Given the following :
Property pur has price = $40000
John's portion of purchase price = 1/4 = (1/4 * 40000) = $10,000
Fred's portion = 3/4 = 0.75 * 40,000 = $30,000
Depreciation allowed before Fred's death = $8000
Each beared half :
That is ; (0.5 * $8000) = $4000 each
Fair market value of property at the time of Fred's death = $80,000
Portion owned by Fred at the time = 3/4
0.75 * $80,000 = $60,000
At this time, John has taken up full ownership :
Basis = $6000 + $60,000 = $66,000
Which of the following statements is not correct? Group of answer choices The deadweight loss that arises in monopoly stems from the fact that the profit-maximizing single-price monopoly firm produces a quantity of output that is smaller the socially-efficient quantity. Consumer surplus is smaller with perfect price discrimination than for a single-price monopolist that can not price discriminaten with a single price monopoloblem caused by monopoly is monopoly profit. For a given demand curve, the profit for a single-price monopolist is larger than for a monopolist that can price discriminate. The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a product.
Answer:
The deadweight loss that arises in monopoly stems from the fact that the profit maximizing single price monopoly firm produces a quantity of output that is smaller the socially efficient quantity.
Explanation:
The dead weight loss arises in an economy when supply and demand are not balanced. Supply and demand are the two most important factors that derive the economy. The economy does not achieve its equilibrium because of dead weight loss. The cost is increased due to dead weight loss which creates market inefficiency.
Expensive department stores market service and atmosphere while less expensive stores market location and perceived lower prices or credit (check cashing services). This is characteristic of _______________________ .
Answer: Monopolistic competition
Explanation:
Monopolistic competition is described as a competition between firms where they offer similar services but not the same or exact services. This competition is seen in industries where differentiation is possible, example of such industries are restaurant, hairdressers, clothing, TV programs.
If a stock is correctly priced, then you know that ____________. A. the dividend payout ratio is optimal B. the stock's required return is equal to the growth rate in earnings and dividends C. the sum of the stock's expected capital gain and dividend yield is equal to the stock's required rate of return D. the present value of growth opportunities is equal to the value of assets in place
Answer: the sum of the stock's expected capital gain and dividend yield is equal to the stock's required rate of return
Explanation:
Stock are the investment that are made by individuals or firms into a public company.
When a stock is correctly priced, it means that the sum of the stock's expected capital gain and dividend yield is equal to the stock's required rate of return
On May 10, 2017, Vaughn Co. enters into a contract to deliver a product to Greig Inc. on June 15, 2017. Greig agrees to pay the full contract price of $1,990 on July 15, 2017. The cost of the goods is $1,310. Vaughn delivers the product to Greig on June 15, 2017, and receives payment on July 15, 2017. Prepare the journal entries for Vaughn related to this contract. Either party may terminate the contract without compensation until one of the parties performs.
Answer:
June 15, 2017, goods sold on account to Greig
Dr Accounts receivable 1,990
Cr Sales revenue 1,990
Dr Cost of goods sold 1,310
Cr Merchandise inventory 1,310
July 15, 2017, payment collected from Greig
Dr Cash 1,990
Cr Accounts receivable 1,990
The transaction must be recorded only after some type of consideration is exchanged between the parties.
Economic profit in the long run is: Group of answer choices possible for both a pure monopoly and a pure competitor. possible for a pure monopoly but not for a pure competitor. impossible for both a pure monopolist and a pure competitor. only possible when barriers to entry are nonexistent.
Answer:
possible for a pure monopoly but not for a pure competitor
Explanation:
The economic profits are the profits in which the firm could be earned by the market power
As we know that in the perfect competition there is a freedom for entry and exit to the markets and also in this no market power due to which its profits are zero
Therefore it should be possible for the pure monopoly, not the pure competitor
Hence, option b is correct
On January 1, a company issues bonds dated January 1 with a par value of $320,000. The bonds mature in 5 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The market rate is 6% and the bonds are sold for $333,650. The journal entry to record the first interest payment using the effective interest method of amortization is: (Rounded to the nearest dollar.)
Answer: Debit interest expense $10,010, debit premium on bonds payable $1,190, credit cash $11,200.
Explanation:
Given the following :
Par value = $320,000
Bonds payable = $333,650
Market rate = 6% compounded semianually
Contract rate = 7%
Cash credited :
Par value * contract rate = $320,000 * 0.07 * 0.5 = $11,200
Interest Expense :
Bonds payable * market rate * 0.5
$333,650 * 0.06 * 0.5 = $10,009.5 (debit)
= $10,010 ( nearest dollar)
Discount Premium on bonds :
Cash - interest expense
$11200 - $10010 = $1,190
You are a policy analyst in the Department of Energy. You were just offered a job with a renewable energy company. How long must you wait before you can lobby the Department of Energy on behalf of your new employer?
Answer:
2 years
Explanation:
In case when you offered a job from a renewable energy company and you are currently working as a policy analyst in the energy department so you have to wait for 2 years prior for lobbing the department of energy on new employer behalf
Hence, the time period is for 2 years and the same is to be considered for the given situation.
The characteristics of a world market where global competition prevails include A. a market situation where competitive conditions across national markets are linked strongly enough to form a true world market and where leading competitors typically compete head to head in many different countries. B. minor cost variations from country-to-country (as concerns production, distribution, sales and marketing, and other primary components of the industry value chain) and minimal cross- country trade restrictions. C. a competitive environment comprised of so many competitors that no company has a sizable worldwide market share. D. many companies racing for global market leadership, with most contenders using the same basic type of competitive strategy and positioned in the same strategic group. E. low barriers to entry, such as large number of rivals that the actions of any one rival have little impact on the sales and market shares of other rivals, and key success factors that vary from country to country.
Answer:
A. a market situation where competitive conditions across national markets are linked strongly enough to form a true world market and where leading competitors typically compete head to head in many different countries.
Explanation:
The characteristics of a world market where global competition prevails include a market situation where competitive conditions across national markets are linked strongly enough to form a true world market and where leading competitors typically compete head to head in many different countries.
For instance, the fierce competition between the manufacturers of mobile phones such as Android devices and iOS devices. Also, manufacturers of vehicles are into head to head competition in different countries.
"A customer's short margin account shows the following balances: Credit Balance: $120,000 SMV: $60,000 SMA: $30,000 What would the adjusted SMA balance be in the account after a short cover of 100 shares of MMM stock at $100 in the account?"
Answer:
$35,000
Explanation:
Calculation for adjusted SMA balance .
First step
Short cover =100 Shares × MMM stock $100
=$10,000
Second step is to find the 50% of the amount of $10,000
50%×$10,000
=$5,000
Third step is to calculate for adjusted SMA balance
Adjusted SMA balance=$SMA $30,000 +$5,000
Adjusted SMA balance=$35,000
Therefore the Adjusted SMA balance will be $35,000
Assume Bob of "Gut-Bomb Burgers" Corp. would like to increase his company's market share by one share point to a total of nine percent. The burger industry's total marketing effort is $50 million. Bob is currently spending $4 million on marketing. How much additional money would Bob have to invest in marketing to increase his company's market share by one share point?
Answer:
$750,000
Explanation:
Calculation for the additional money that Bob have to invest in marketing to increase his company's market share by one share point
Based on the information given we were told that the burger industry's total marketing effort was the amount of $50 million, this means that the share of point will be calculated as :
Share of point=Total marketing effort of $50,000,000/100
Share of point=$500,000
Second step is for us to make use of the 1.5 rule from the parity budget by multiplying it with the amount of $500,000
Hence,
Additional money=$500,000*1.5
Additional money=$750,000
Therefore the additional money that Bob have to invest in marketing to increase his company's market share by one share point will be $750,000
Is a Truck driving on the highway is one of the sixteen careers taught in Texas. Yes or No
Byron Company records several adjusting entries for accrued expenses at the end of each month. The adjusting entry for each of Byron's accrued expenses is a(n): Multiple Choice Increase an expense; decrease a liability. Increase an expense; decrease an asset.
Answer: Increase an expense
Explanation:
Accrued expenses are those expenses that the company has already incurred but have not yet paid for. Even though they have not paid for this, they will still have to account for it due to the Accrual basis in Accounting that requires that expenses are recognised when incurred not when paid.
The adjusting entry for an accrued expense is therefore to increase (by debiting) the relevant expense account and then increase (by crediting) the relevant liability account.
Economists consider both explicit costs and implicit costs when measuring economic profit. The reason they consider implicit costs is that
Answer:
a business must cover its opportunity costs as well as its out-of-pocket expenses to be truly profitable.
Explanation:
Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.
explicit cost is the actual cost incurred in carrying out a particular action
Economic profit = Total revenue - (implicit cost + explicit cost)
For example , a man leaves his job where he earns $50,000 to start his business. the total revenue of his business is $100,000 while explicit cost is $50,000
Accounting profit = $100,000 - $50,000 = $50,000
Economic profit = $50,000 - $50,000 = 0
Jarden Company has credit sales of $3,600,000 for year 2017. On December 31, 2017, the company’s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. December 31, 2017 Accounts Receivable Age of Accounts Receivable Expected Percent Uncollectible $ 830,000 Not yet due 1.25 % 254,000 1 to 30 days past due 2.00 86,000 31 to 60 days past due 6.50 38,000 61 to 90 days past due 32.75 12,000 Over 90 days past due 68.00 Problem 7-3A Part 1 Required: 1. Estimate the required balance of the Allowance for Doubtful Accounts at December 31, 2017, using the aging of accounts receivable method.
Answer:
$41,650
Explanation:
The computation of Estimate the required balance of the Allowance for Doubtful Accounts is shown below:-
Particulars Account receivable % Estimated uncollectible
Not yet due $830,000 1.25% $10,375
1 to 30 days $254,000 2% $5,080
31 to 60 days $86,000 6.50% $5,590
61 to 90 days $38,000 32.75% $12,445
Over 90 days $12,000 68.00% $8,160
Estimated balance $41,650
Frahm Company incurred a first quarter operating loss before income tax effect of $4,000,000. This is a normal occurrence for Frahm because of seasonal fluctuations. Experience has demonstrated the income earned during the remaining quarters far exceeds the first quarter losses each year. Frahm estimates its annual income tax rate will be 30 percent. What net loss should Frahm report for the first quarter?
Answer: $2,800,000
Explanation:
From the question, we are informed that Frahm estimates its annual income tax rate will be 30 percent and incurred a first quarter operating loss before income tax effect of $4,000,000.
The net loss should Frahm report for the first quarter will be:
= $4,000,000 - (30% × $4,000,000)
= $4,000,000 - (0.3 × $4,000,000)
= $4,000,000 - $1,200,000
= $2,800,000
decides to use the needs approach to determine how much life insurance to buy. Her cash needs are $30,000; her income needs are $140,000; and her special needs are $100,000. Ellen has the following assets: $20,000 in bank accounts, $30,000 in retirement accounts, and $40,000 in investment accounts. She does not own any individual life insurance, but she is covered by a $50,000 group life insurance policy through her employer. Judging solely from this information, how much additional life insurance (if any) should Ellen purchase
Answer:
$130,000
Explanation:
For determining the additional life insurance required first we need to follow some steps which are shown below:-
Step 1
Total needs = Cash needs + Income needs + Special needs
= $30,000 + $140,000 + $100,000
= $270,000
Step 2
Total assets held = Bank accounts + Retirement plans + Investment accounts
= $20,000 + $30,000 + $40,000
= $90,000
Step 3
Total amount of life = $270,000 - $90,000
= $180,000
and finally
Additional life insurance required =
The Total amount of life - Life insurance provided by the employer
= $180,000 - $50,000
= $130,000
A buyer purchased a new residence for $175,000. The buyer made a down payment of $15,000 and obtained a $160,000 mortgage loan. The builder of the house paid the lender 3% of the loan balance for the first year and 2% for the second year. This represented a total savings for the buyer of $8,000. What type of mortgage arrangement is this
Answer:
Buydown, is the right answer.
Explanation:
This is a buydown mortgage arrangement because in the buydown financing technique the buyer tries to take lower interest rates in the initial year of the loan period. Moreover, some mortgage lenders provide buydown discounts or points as part of their promotion. Secondly, the builder pays the initial payment to the mortgage institution that results in the lower buyer’s payment.
All of the following are true regarding traditional manufacturing except a.traditional manufacturing practices tolerate defects. b.traditional manufacturing practices increase inventory to protect against process problems. c.traditional manufacturing practices decrease lead time to protect against uncertainty. d.traditional manufacturing practices emphasize product oriented layout.
Answer: c.traditional manufacturing practices decrease lead time to protect against uncertainty.
Explanation:
The traditional manufacturing practices tolerate defects and also increase inventory to protect against process problems.
It should also be noted that traditional manufacturing practices emphasize product oriented layout.
The option that traditional manufacturing practices decrease lead time to protect against uncertainty is false.
Which one does not describe the ways that players associations support players? A. Providing them with guidance in salary and labor arbitration. B. Providing them with equipment and instruction to enable them to perform at the highest possible level. C. Providing them with salary and contract data. D. Providing them with information to support negotiations.
Answer: Providing them with equipment and instruction to enable them to perform at the highest possible level.
Explanation:
Players association support players by providing them with guidance in salary and labor arbitration, providing them with salary and contract data and also by providing them with information to support negotiations.
It is not the function of the players association to provide players with equipment and instruction to enable them to perform at the highest possible level.
A local restaurant offers an "all you can eat" Sunday brunch for $12. Susan eats four servings, but leaves half of a fifth helping uneaten. Why
SEC Form S-3 is an optional, short-form registration statement that relies on the incorporation by reference of periodic reports required by the Securities Exchange Act of 1934. Form S-3 offers substantial savings in filing costs over other forms because minimal disclosures are required in the prospectus. The SEC permits the use of Form S-3 by an issuer that
Complete Question:
SEC Form S-3 is an optional, short-form registration statement that relies on the incorporation by reference of periodic reports required by the Securities Exchange Act of 1934. Form S-3 offers substantial savings in filing costs over other forms because minimal disclosures are required in the prospectus. The SEC permits the use of Form S-3 by an issuer that
Group of answer choices.
A. Does not qualify for Form S-1.
B. Is a seasoned issuer or a well-known seasoned issuer.
C. Does not have stock held by nonaffiliates.
D. Has not had to file Form 8-K during the most recent 2-year period.
Answer:
B. Is a seasoned issuer or a well-known seasoned issuer.
Explanation:
SEC Form S-3 is an optional, short-form registration statement that relies on the incorporation by reference of periodic reports required by the Securities Exchange Act of 1934. Form S-3 offers substantial savings in filing costs over other forms because minimal disclosures are required in the prospectus. The SEC permits the use of Form S-3 by an issuer that is a seasoned issuer or a well-known seasoned issuer.
There are four (4) types of recognized issuers under the Securities and Exchange Commission (SEC) integrated disclosure system, namely;
1. A seasoned issuer: this is an issuer who has a minimum market capitalization of $75,000,000 and has filed for a year at least. They're permitted to use the Form S-3 to report any less details or provide information by reference to other sources.
2. A well-known seasoned issuer: this is an issuer who has a minimum worldwide market capitalization of $700,000,000 and has also filed for a year at least. They're also permitted by the SEC to use the Form S-3.
3. A non-reporting issuer: this is an issuer who is permitted to use the Form S-1 because they're not required to file report under the Securities Exchange Act of 1934.
4. An unseasoned issuer: they are also required by the Securities Exchange Act of 1934 to use the Form S-1.
For years, the world had used the country of Votnam as a place to assemble goods because of the country's availability of cheap labor. To shift its manufacturing base from simple assembly to full-fledged manufacture of components and finished goods, Votnam introduced a policy that 35 percent of the value of a product must be produced locally. This is an example of a(n) Group of answer choices
Answer:
Local content requirement.
Explanation:
In this scenario, for years, the world had used the country of Votnam as a place to assemble goods because of the country's availability of cheap labor. To shift its manufacturing base from simple assembly to full-fledged manufacture of components and finished goods, Votnam introduced a policy that 35 percent of the value of a product must be produced locally. This is an example of a local content requirement.
A local content requirement can be defined as a measure or strategic policy put in a place by a government to ensure that there's a balance in the level of production through the use of domestically sourced raw materials. It is focused on promoting sustainable economic development in a particular country through the application of various raw materials acquired locally or within the country.
Generally, local content requirement helps to promote and enhance export rather than importation.
A successful total quality management (TQM) program requires
a) minimizing changes in the organization's culture.
b) attributing defects to the appropriate production function(s).
c) focusing on defect solutions, not sources.
d) soliciting feedback from division-level managers and above.
e) breaking down barriers between functions.
Answer:
Breaking down barriers between functions
Explanation:
Total quality management is a management approach to getting all employees committed to improving processes , products and services towards achieving a customer satisfaction and growth success into a foreseeable future.
One key requirement towards achieving this is breaking down barriers between functions as development of new products calls for efficient planning to deliver customer satisfaction and employees in different functions and department also have to work together to anticipate problems that could impair quality of products.
The successful total quality management (TQM) program requires
required Breaking down barriers between functions.
What is TQM:It is the management approach where it recieved all employees committed for improving out the processes, product & services, so that the customer satisfaction should be achieved. Also, the growth success should be considered for the near future.
If there is the split down barriers that lies between the functions should be of the establishment of the new product calls so that the efficient planning could be done.
Learn more about management here: https://brainly.com/question/24302303
Jill wants to start her own business, but knows little about how to set up an accounting system or interpret financial information. "I'm not worried about accounting," she tells her friends. "I'll just hire a part-time bookkeeper to handle all that type of stuff, and focus my attention on what I like—finding ways to satisfy my customers." Which of the following is the best response to Jill's comments?A. Fine. Just make sure the bookkeeper you hire knows how to use a database, since this type of software is the heart of any efficient accounting system. B. Although you can hire someone to keep your books, you'll still need to know how to read, understand, and interpret basic accounting reports in order to make good business decisions. C. Most entrepreneurs would agree with your opinion. The work done by accountants is mainly clerical in nature, so time spent by business owners on accounting tends to take them away from more important tasks. D. You have a good plan. Only managers of large firms require knowledge of accounting. Owners and managers of small businesses can easily get by with just a part-time bookkeeper.
Answer:
B. Although you can hire someone to keep your books, you'll still need to know how to read, understand, and interpret basic accounting reports in order to make good business decisions
Explanation:
You may employ someone to manage the accounts, but you do need to know how to read, understand, and interpret simple reports of accounting to make sound business decisions, as well as understanding whether someone is committing fraud with you. A simple knowledge can help with all of this.
The smooth operation of a company is practically impossible without being able to interpret, comprehend and evaluate accounting reports and financial statements.
Therefore according to the given situation, the correct answer is b
Maroji is a major exporter of dairy products. Mipon is a major exporter of heavy machinery but also has a sizeable domestic dairy industry. Since it imports a sizeable amount of heavy machinery from Mipon, Maroji, at the request of Mipon, limited the amount of dairy products it exports to Mipon each year. This is an example of
Answer:
voluntary export restraint
Explanation:
Based on the scenario being described, this is an example of a voluntary export restraint or VER for short. This term refers to a trade restriction on the quantity of a specific good that the exporting country is allowed to export to other countries and is usually a self-imposed limit. Such restrictions are usually implemented in order to seek protection from competing imports from particular countries and prevent trade barriers.
Emergency Operations Centers are part of the standard, national framework for incident management. This is described in A. the Command and Coordination component of the National Incident Management System (NIMS). B. the Resource Management component of the National Incident Management System (NIMS). C. the Operational Period Planning Cycle and Incident Action Plan for each individual incident. D. the Communications and Information Management component of the National Incident Management System (NIMS).
Answer:
Correct Answer:
C. the Operational Period, Planning Cycle, and Incident Action Plan for each individual incident.
Explanation:
Emergency Operations Centers are centers in National Incident Management in charge of incident management that is applicable at all jurisdictional levels and across functional disciplines.
Which option is correct. A, B, C, or D
In 2019, Osgood Corporation purchased $6.1 million worth of 10-year municipal bonds at face value. On December 31, 2021, the bonds had a fair value of $4,300,000 and Osgood reclassified the bonds from held-to-maturity to trading securities. Osgood's December 31, 2021, balance sheet and the 2021 income statement would show the following:
Investment in bonds (TS) Income statement loss on investments
a. $4,300,000 $ 0
b. $4,300,000 $1,800,000
c. $6,100,000 $1,800,000
d. $6,100,000 $ 0
a) Option d.
b) Option c.
c) Option b.
Answer:
b. $4,300,000 $1,800,000
Explanation:
Calculation for what Osgood's December 31, 2021, balance sheet and the 2021 income statement would show
First step is to find the Loss on investments using this formula
Income statement Loss on investments =Face value municipal bonds-Fair value
Let plug in the formula
Income statement Loss on investments=6,100,000-4,300,000
Income statement Loss on investments= $1,800,000
Second step is to find the investment in bonds
Based on the information given we were told that On December 31, 2021, the bonds had a Fair value of the amount of $4,300,000 which simply means that the Fair value amount of $4,300,000 will be the Investment in municipal bonds.
Therefore the Income statement Loss on investments will be $1,800,000 while Investment in municipal bonds will be $4,300,000.
All duties required by the stairway and ladder rules must be performed _______ employees begin work that requires them to use stairways or ladders and their respective fall protection systems.
Answer:
Before.
Explanation:
In work related environments, stairways and ladder systems are generally considered to be the major source of fatalities, injuries or bodily harm being experienced by the workers who are working in construction sites.
According to the Occupational Safety and Health Administration (OSHA), all duties required by the stairway and ladder rules must be performed before employees begin work that requires them to use stairways or ladders and their respective fall protection systems.
This ultimately implies that, before any employee commences a work that requires the use of a stairway or ladder, all of the guidelines, rules and standard procedures should have been followed or done.
