D) Transaction costs. The time and money required to complete financial transactions are referred to as transaction costs.
The charges encountered while purchasing or selling products or services on the open market are referred to as transaction costs. These include costs associated with the transfer of money, securities, or other financial transactions, as well as fees, charges, spreads, and other costs. These expenses may be substantial, which would decrease the financial system's overall effectiveness. Financial intermediaries like banks and brokerage companies provide services like payment processing and investment advice in order to lower transaction costs, allowing people and businesses to interact more effectively. For financial markets and the economy as a whole to function, transaction costs must be reduced.
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suppose charlie encountered resistance to his plans to improve contingency planning. what appeals could he use to sway opinions toward improved business contingency planning?
Charlie can use several appeals to sway opinions toward improved business contingency planning. The appeals he can use include appeals to self-interest, appeals to ethics, appeals to authority, appeals to emotion, and appeals to logic.
Appeals to sway opinionsAppeals to self-interest: Charlie can persuade people to support improved business contingency planning by convincing them that it will benefit them in the long run. He can argue that it will help the company save money, reduce downtime, and prevent losses due to unexpected events. Charlie can also highlight how improved contingency planning can increase job security and stability.
Appeals to ethics: Charlie can make a moral argument that improved business contingency planning is the right thing to do. He can appeal to the company's values and ethics, arguing that it is the company's responsibility to be prepared for unexpected events that may harm the business. He can also emphasize the impact that a lack of contingency planning can have on customers, employees, and other stakeholders.
Appeals to authority: Charlie can appeal to authority by using examples of other companies or industry leaders who have implemented successful contingency plans. He can also cite industry standards, regulations, or guidelines that support the need for improved contingency planning. By doing this, he can show that contingency planning is not only important but also a standard practice in the industry.
Appeals to emotion: Charlie can appeal to the emotions of the people he is trying to persuade. He can use stories, examples, or images that evoke feelings of fear, uncertainty, or loss to show the importance of contingency planning. He can also appeal to their sense of pride or accomplishment by highlighting how their contribution to contingency planning can make a difference.
Appeals to logic: Charlie can appeal to the logic of the people he is trying to persuade by presenting data, facts, and evidence that support the need for improved contingency planning. He can use statistics, case studies, and other analytical tools to show the potential costs and benefits of contingency planning.
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unlike the classical economists, keynes asserted that
The Keynes argued that, in contrast to the Classical economists, the economy was intrinsically unstable. While Keynesian Economics (also known as neoclassical economics) is founded on the notion that if demand is insufficient to meet total output.
The governments should intervene with fiscal measures, classical economics emphasizes the free market and supply and demand. The long-term state of the economy, in which all workers and resources are employed, is shown by the classical model. The Keynesian Model explains what occurs in the short term during expansions and recessions when the economy is performing above or below its potential.
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The question is incomplete complete question is given below
Unlike the classical economists, keynes asserted that the economy was inherently unstable.
the acme paper company lowers its price of envelopes (1,000 count) from $6 to $5.40. if its sales increase by 20 percent following the price decrease, what is the elasticity coefficient?
The elasticity coefficient for the price decrease is 2.0.
How to calculateThe elasticity coefficient for the Acme Paper Company's price decrease from $6 to $5.40 for 1,000 count envelopes can be calculated using the following formula:
Elasticity = (% Change in Quantity / % Change in Price) = (20% / 10%) = 2.0.
Therefore, the elasticity coefficient for the price decrease is 2.0.
Price elasticity is simply percentage change in quantity demanded divided by percentage change in price of goods and service.
The formula for calculating price elasticity is as following;
Ep= % change in quantity demanded(Q) / % change in price(P)
Example: Price Elasticity Where Ep represents elasticity coefficient, %Q shows change in quantity demanded, and %P represents change in price of particular goods and services.
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below are trends in operating cash flows for three companies. year 1year 2year 3total company 1$ 100,000$ 150,000$ 50,000$ 300,000 company 2100,000100,000100,000300,000 company 390,000100,000110,000300,000 based on an analysis of operating risk, which company's management is likely motivated to have the largest ratio of cash to noncash assets?
Company 2.
Company 1.
All companies are expected to have the same ratio.
Company 3.
Based on the analysis of operating risk, Company 2 is likely motivated to have the largest ratio of cash to noncash assets. This is because Company 2 has the highest operating cash flow over the 3-year period ($300,000).
Operating cash flows refer to the money a business generates from its day-to-day operations. Operating cash flows include cash received from customers, interest and dividends earned, as well as payments to suppliers, employees, and other creditors. Operating risk refers to the possibility of a business incurring financial losses due to variations in operating cash.
However, in this case, Company 2 has the largest ratio of cash to non-cash assets, meaning that its management is likely motivated to reduce operating risk by maintaining a significant cash reserve.
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Sye Chase started and operated a small family architectural firm in year 1. the firm was affected by two events: (1) chase provided $23,600 of services on account, and (2) he purchased $7,400 of supplies on account. there were $1,150 of supplies on hand as of December 31, 2016.Required:a. Open T-accounts and record the two transactions in the accounts.b. Record the required year-end adjusting entry to reflect the use of supplies.c. Record the preceding transactions in a horizontal statements model like the following one:Assets 5 Liab. 1 Equity Rev. 2 Exp. 5 Net Inc. Cash Flow Accts. Accts. Ret. Rec. 1 Supplies 5 Pay. 1 Earn.d. Explain why the amounts of net income and net cash flow from operating activities differ.e. Record and post the required closing entries, and prepare a post-closing trial balance.
When answering questions on the platform Brainly, one should always be factually accurate, professional, and friendly, and be concise and not provide extraneous amounts of detail.
One should also repeat the question in their answer, ignore any typos or irrelevant parts of the question, and use the relevant terms in their answer, which in this case are "architectural", "supplies on account. "a) The journal entries for Sye Chase's architectural firm are as follows:S.No.AccountTitlesDebitCredit1Accounts Receivable236002Service Revenue236002Accounts Payable74003Supplies7400b) The year-end adjusting entry to reflect the use of supplies is as follows:S.No.AccountTitlesDebitCredit1Supplies Expense67502Supplies6750c) The preceding transactions in a horizontal statements model are as follows:AssetsLiabilitiesEquityRevenueExpensesNet IncomeCash FlowAccounts ReceivableSuppliesPayablesRevenueService RevenueSupplies Expense-6750-6750d) The amounts of net income and net cash flow from operating activities differ because net income reflects transactions that have been completed, while net cash flow from operating activities reflects only transactions that have actually taken place.e) The required closing entries are as follows:
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Semantic information difference is a term that describes _______________.
a. when employees and supervisors do not share the same view of some organizational issues, basic job duties, or employees' participation in decision making
b. when the information being presented in a meeting is not in line with the company's mission statement.
c. how companies communicate by different channels such as phone, internet, and mail
d. when semantics play a part in organizational decision making
Semantic information difference is a term that describes "when employees and supervisors do not share the same view of some organizational issues, basic job duties, or employees' participation in decision making" (option A).
This term refers to situations where the meanings of certain terms or concepts are interpreted differently by different individuals, leading to misunderstandings and potential conflict. Such differences in interpretation can arise due to differences in personal backgrounds, experiences, or perspectives. Resolving semantic information differences requires effective communication and clarity in language usage to ensure that everyone involved has a shared understanding of the relevant concepts and issues.
Thus, option a is the correct answer.
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an independent auditor asked a client's internal auditor to assist in preparing a standard financial institution confirmation request for a payroll account that had been closed during the year under audit. after the internal auditor prepared the form, the controller signed it and mailed it to the bank. what was the major flaw in this procedure?
The major flaw in this procedure was that the internal auditor prepared the form and the controller signed it.
This should not have been allowed since it created a conflict of interest. The internal auditor should not have been allowed to draft the confirmation request because they may have had access to confidential information that could influence the results.
Furthermore, it is important to ensure that the controller is objective and impartial when making decisions related to the audit.
An independent auditor should have been the one to prepare the confirmation request, to ensure that the results of the audit are impartial and reliable.
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Why are food trucks' costs typically lower than those of a traditional brick-and-mortar
restaurant?
Answer:
Being mobile, food trucks can simply drive to a more profitable site if a location is not cutting it. Food trucks don't bear the larger overhead of brick-and-mortar restaurants. The costs of wide-ranging staff, utilities and property taxes of typical brick-and-mortar restaurants can really stack up.
Consider an oligopolistic market with 3 identical firms, all three making a homogeneous product. The inverse demand for this product is P(Q) = 3, 000 − 6Q where Q is the market quantity. The marginal cost of production is equal to the average cost and is identical for all firms and given by c = 2, 000.
(a) Solve for the best response function for each of the three firms.
(b) Calculate the Nash equilibrium output, price and profits of each firm using quantity as the strategic variable (i.e. assuming firms choose quantities).
(c) Compute the Lerner index for each firm.
(d) Assume two of the firms merge. Assume that the merged firm has marginal cost 1,600. What is the profit of the merged firm? (e) Given your answer to pard (d), would the firms want to merge? Explain. (f) Would the firm that was not part of the merger benefit from the merger? Explain.
The profits of the companies combined are 1000. The firms would want to merge because the profit of the merged firm is higher than the profit of each of the firms in the Nash equilibrium.
The best response function for each firm in this oligopolistic market is given by the following equation:
BR(Q) = MC + ((P(Q) - MC) / n),
where
The Nash equilibrium output, price and profits of each firm are given by the following equations:
Q* = 1000, P* = 1000, Profits* = 500
The Lerner index for each firm is given by the following equation:
Lerner Index = (P* - MC) / P* = (1000 - 2000) / 1000 = -1.
The profit of the merged firm is given by the following equation:
Profits* = (3000 - 6Q*) - 1,600Q* = 1000 - 2,400Q*.
Therefore, the profit of the merged firm is 1000.
The firms would want to merge because the profit of the merged firm is higher than the profit of each of the firms in the Nash equilibrium. The firm that was not part of the merger would not benefit from the merger because its profit would remain the same in the Nash equilibrium.
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an agent is not required to keep which of the following information confidential? a. customer lists b. business plans c. unique business methods d. information that his or her principal is engaged in criminal activity
Answer: The answer is D. Information that his or her principal is engaged in criminal activity. Agents are not obligated to keep information confidential if it is related to criminal activity.
Explanation: An agent is an individual who has been appointed to act on behalf of someone else in business transactions or other legal matters. They are sometimes referred to as power-of-attorney or attorney-in-fact, and they are normally required to maintain the confidentiality of the principal's affairs.
It is the agent's responsibility to ensure that any confidential data shared with them by their principal or client is kept private and is only shared with people who are authorized to receive it.
Agents, on the other hand, do not have a duty of confidentiality with regards to information that their principal is engaged in criminal activity, as this information may be reported to the authorities if necessary.
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Which positioning base for a product or service focuses on a personality or type of consumer? a. Product class b. Attribute C. Emotion d. Product user
The positioning base, named, "product user" focuses on a personality or type of consumer. Option D is the correct answer.
Positioning is a crucial element in the marketing mix and refers to how a company creates an image or identity in the minds of consumers for its product or service. One such positioning base is product user, where the focus is on the personality or type of consumer. By identifying and targeting a specific group of consumers based on their characteristics, interests, or lifestyles, companies can tailor their marketing strategies to appeal to this group and differentiate themselves from competitors. This approach can help companies build brand loyalty and increase sales among their target market.
Therefore, option D is the correct answer.
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the two parameters that define the managerial superstructure include question 3 options: a) marketing and finance. b) unit grouping and unit size. c) ethics and decision-making. d) management and leadership. e) hiring and training.
The two parameters that define the managerial superstructure are management and leadership.
Management is focused on setting and achieving goals, while leadership focuses on inspiring, motivating, and guiding the workforce. Management involves the planning, organizing, leading, and controlling of resources, while leadership involves influencing, motivating, and guiding a team.
Management creates structure and stability, while leadership provides direction and encourages creativity. Management is goal-oriented, while leadership is people-oriented.
With both management and leadership, organizations are able to effectively run their operations.
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the net present value method of capital budgeting analysis does all of the following except: group of answer choices incorporate risk into the analysis. provide a specific anticipated rate of return. consider all relevant cash flow information. discount all future cash flows to their current value. consider the initial cost of the project.
The net present value method of capital budgeting analysis does not incorporate risk into the analysis.
This method considers all relevant cash flow information, discounts all future cash flows to their current value, and takes into account the initial cost of the project.
However, the net present value method does not provide a specific anticipated rate of return.
The net present value method uses the discount rate to adjust for risk in a project by comparing the current value of future cash flows to the present cost of the investment.
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prezas company's balance sheet showed total current assets of $4,750, all of which were required in operations. its current liabilities consisted of $975 of accounts payable, $600 of 6% short-term notes payable to the bank, and $250 of accrued wages and taxes. what was its net operating working capital? group of answer choices $3,701 $3,878 $3,384 $3,525 $3,842
Net operating working capital is the difference between the current assets used in operations and the current liabilities arising from operations. In the given case, net operating working capital would be $3,525.
Thus, by subtracting the current liabilities of Preza's company from its total current assets, its net operating working capital can be calculated by using concepts of liabilities, assets and capital, it is as follows:
Net operating working capital = Total current assets - Current liabilities= $4,750 - ($975 + $100 + $150)= $3,525. Therefore, the net operating working capital of Preza's company is $3,525.
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ABC reports a receivables turnover ratio of 14.5. The industry average is 10.7. What most likely is causing this difference? Multiple Choice ABC allows customers too long to pay ABC has effective procedures related to selling goods on account ABC provides superior products and services. ABC is selling to high-risk customers
Option b: ABC has effective procedures related to selling goods on account is most likely is causing this difference.
Turnover ratio, or investment turnover, is the percentage of mutual fund or other portfolio holdings that are exchanged during a year.
Some funds have held equity positions for less than 12 months, resulting in over 100% turnover. This does not necessarily mean that all inventory has been replaced. This ratio reflects the percentage of stocks that have changed over the course of a year.
Turnover rates vary depending on the type of mutual fund, investment objectives, and investment style of the portfolio manager.
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Complete question:
ABC reports a receivables turnover ratio of 14.5. The industry average is 10.7. What most likely is causing this difference? Multiple Choice
a: ABC allows customers too long to pay
b: ABC has effective procedures related to selling goods on account
c: ABC provides superior products and services.
d: ABC is selling to high-risk customers
determine the semi-annual interest payment for the following three bonds: 2.5 percent coupon corporate bond, 3.15 percent coupon treasury note, and a corporate zero-coupon bond maturing in 10 years. (assume a $1,000 par value.)
The semi-annual interest payment for the following three bonds is as follows: 2.5 percent coupon corporate bond: $25; 3.15 percent coupon treasury note: $31.50; and a corporate zero-coupon bond maturing in 10 years: $0.
A 2.5 percent coupon corporate bond with a $1,000 par value will yield $25 of semi-annual interest payments (2.5% * $1,000 / 2).
Similarly, a 3.15 percent coupon treasury note with a $1,000 par value will yield $31.50 of semi-annual interest payments (3.15% * $1,000 / 2).
A corporate zero-coupon bond maturing in 10 years does not yield any semi-annual interest payments since it is a zero coupon bond. The $1,000 par value is only paid at maturity.
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When there is a technological advance in the pork industry, consumer surplus in that market will a. increase b. decrease c. not change, since technology affects producers and not consumers. d. not change, since consumers' willingness to pay is unaffected by the technological advance.
Consumer surplus in that market will rise as the pork industry makes a technological advancement..
When customers pay less than they'd normally be ready to for a good or service, there is a consumer surplus.. The foundation for the notion of consumer surplus is the economic concept of marginal product additional satisfaction that a customer receives from purchasing one more unit of a good or service. A constant, consumer surplus grows when prices are lowering and decreases when prices are rising. Economists conceptualize it as the triangle-shaped region beneath the demand curve that is between its market cost and the cost that buyers are willing to pay.
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Organizational development (Connect, Perform)
Complete the following sentences with the correct organizational development (OD) term.
If an OD consultant is hired to implement a large-group intervention , this activity will include meeting with employees from across the organization and often external stakeholders to have a sustained, guided dialogue.
Because organizational change is a difficult endeavor, a company may use a change agent , who is an OD expert, to diagnosis problems, develop a training plan, and document performance.
Organizations often use surveys to determine how their employees feel about proposed changes before they happen. These surveys are distributed in theunfreezing part of the change process.
Organizational development (OD) term for the following sentences are: If an OD consultant is hired to implement a large-group intervention
What is organizational development (OD)?Organizational development is a process that involves applying social science knowledge to organizational and organizational changes. Its aim is to enhance the organization's effectiveness and efficiency in achieving its objectives through planned interventions. OD may take on various forms, such as analyzing systems, diagnosing problems, and facilitating change.
This activity will include meeting with employees from across the organization and often external stakeholders to have a sustained, guided dialogue is Connect. Because organizational change is a difficult endeavor, a company may use a change agent, who is an OD expert, to diagnosis problems, develop a training plan, and document performance is Perform.
Organizations often use surveys to determine how their employees feel about proposed changes before they happen. These surveys are distributed in the unfreezing part of the change process is Connect.
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What do you think is the main economic reason why businesses grow and fail and why?
MUST BE WRITTEN IN COMPLETE HIGH SCHOOL LEVEL SENTENCES (at least 5 sentences)
Answer:
Businesses grow and fail for a variety of economic reasons, but one of the main reasons why businesses grow is due to economies of scale. As a business grows, it can produce more goods or services at a lower cost per unit, which allows it to be more competitive and profitable. Additionally, businesses may also grow by expanding into new markets, increasing their customer base, and diversifying their products or services.
On the other hand, one of the main reasons why businesses fail is due to a lack of financial management. Businesses need to carefully manage their finances to ensure they have enough cash flow to operate and to invest in growth opportunities. If a business has poor financial management, it may not be able to pay its bills or debts, which can lead to bankruptcy.
Another reason why businesses fail is due to changes in the market or industry. Technology, competition, and consumer preferences can all change quickly, and businesses that fail to adapt may lose market share or become irrelevant. Finally, businesses may also fail due to poor management or leadership, which can result in a lack of strategic direction, low employee morale, and inefficient operations.
Answer:
One of the main economic reasons why businesses grow is the desire for increased profits. As businesses expand, they can take advantage of economies of scale, which allows them to produce goods and services more efficiently and at a lower cost. This can result in higher profits for the business. However, growth can also lead to increased competition, which can make it harder for businesses to maintain their market share and profitability.
On the other hand, businesses can fail due to a variety of factors. One major reason is poor financial management, including overspending, poor cash flow management, and failing to plan for the future. Additionally, businesses can fail if they don't offer a product or service that customers want or need. Finally, external factors such as changes in the economy or regulatory environment can also contribute to business failure.
Mention two provisions (mechanisms) that ensures that the investment of shareholders are protected. Explain the purpose of each
Someone who holds at least one share of a company's stock or unit in a mutual fund is referred to as a shareholder. The firm is primarily owned by its shareholders, who also have specific rights and obligations.
Two provision that ensures the protection of shareholders' investments are:
1. Shareholder voting rights: Shareholders have the right to vote on important company decisions, such as electing members of the board of directors, mergers and acquisitions, and major changes to the company's bylaws. This provision ensures that shareholders have a say in how the company is run and that their investments are not being misused.
2. Requirements for disclosure: Businesses are expected to routinely disclose significant operational and financial information to their shareholders. Annual reports, financial statements, and other significant updates fall under this category.
By guaranteeing shareholders' access to crucial data on the company's financial health, this clause enables them to make well-informed investment decisions.
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Use the accompanying list to answer the 4 questions below. a. Improvements in technology. b. Increases in the supply (stock) of capital goods. c. Purchases of expanding output. d. Obtaining the optimal combination of goods, each at least-cost production e. Increases in the quantity and quality of natural resources. f. Increases in the quantity and quality of human resources. 1. As distinct from the demand and efficiency factors of economic growth, the supply factors of economic growth are: ____, ____, _____, and ____ only.
Increases creases in the supply of capital goods, improvements in technology, increases in the quantity and quality of natural resources, and increases in the quantity and quality of human resources only.
The supply factors of economic growth are improvements in technology, increases in the supply of capital goods, increases in the quantity and quality of natural resources, and increases in the quantity and quality of human resources.
Economic groth refers to a situation where an economy's output is growing in size or capacity. There are two primary factors that contribute to economic growth: supply and demand factors.
Therefore, the answer is Improvements in technology, Increases in the supply (stock) of capital goods, Increases in the quantity and quality of natural resources, and Increases in the quantity and quality of human resources.
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ant160 1. how did the new federal housing administration (fha) change down payment requirements and loan terms for home mortgages? what effect did this have on home buying in america?
This allowed more people to become eligible for a mortgage and increased access to homeownership for many people. As a result, it significantly increased home buying in America.
The New Federal Housing Administration modified down payment requirements and loan terms for home mortgages, which affected home purchasing in America.
The FHA changed down payment requirements and loan terms for home mortgages as follows:
1. FHA-backed loans allowed a much lower down payment than the standard 50 per cent requirement of traditional lenders. This made it easier for first-time buyers to get into the housing market.
2. The FHA also lowered interest rates on mortgages, making them more attractive to potential homeowners.
3. The length of mortgage loans was increased from five years to 15 years, making monthly payments more affordable for homebuyers.
4. The FHA insurance plan covered mortgage payments in the event of a borrower's death or disability, ensuring that their families would not be left with a financial burden if the worst occurred.
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The increase in unemployment associated with a recession is called _____.
a. structural unemployment
b. frictional unemployment
c. discouraged unemployment
d. cyclical unemployment
d. cyclical unemployment.
Cyclical unemployment is the brief rise in unemployment that happens during a recession or economic cycle downturn as demand for products and services declines and businesses fire employees.
Cyclical unemployment is a rise in unemployment that happens during an economic downturn or recession as a result of a drop in aggregate demand. Businesses are less inclined to hire new employees and may even fire present employees when the economy as a whole is struggling, which raises the unemployment rate. This is distinct from frictional unemployment, which is the temporary unemployment that happens when employees hunt for new jobs, and structural unemployment, which happens when there is a mismatch between the abilities of workers and the available jobs. Those who have given up seeking work and are no longer included in the official unemployment statistics are referred to as discouraged unemployed.
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The table below shows monetary assets for a banking sector at the end of a year.Monetary AssetsValue (in millions)Monetary Base$4,000$4,000Currency in Circulation$1,500$1,500M1$6,500$6,500Based on the data provided, what is the value of total reserves held by depository institutions?A. $500 millionB. $1,500 millionC. $2,500 millionD. $5,500 millionE. $8,000 million
Depository institutions currently hold reserves of $2,500,000,000. The correct response is (C) $2,5 billion.
The opportunity cost of keeping currency is measured by which of the following?The interest rate is a metric for evaluating the potential of retaining currency. Hence the benefit lost by choosing one alternative over others is known as the opportunity cost.
The difference between the monetary base and the amount of money in circulation can be used to determine the value of the total reserves held by depository institutions:Total Reserves = Monetary Base - Currency in Circulation
Total Reserves = $4,000 million - $1,500 million
Total Reserves = $2,500 million
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the following information is available for fenton manufacturing company at june 30: cash in bank account $ 6,955 inventory of postage stamps $ 79 bank account balance $ 12,900 petty cash balance $ 400 nsf checks from customers returned by bank $ 917 accounts payable $ 516 cash in register $ 757 a certificate of deposit maturing in five years $ 8,500 based on this information, fenton manufacturing company should report cash and cash equivalents on june 30 of:
The cash balance including cash and cash equivalents that must be reported on June 30 by Fenton Manufacturing Company in the register would be $21,012.
Cash in bank account $6,955, bank account balance $12,900, petty cash balance $400, cash in register $757, NSF checks from customers returned by bank $917.
Cash and cash equivalents are those assets that are readily convertible to cash and have a maturity period of fewer than three months.
The following are considered cash and cash equivalents: Cash in the bank account ($6,955), bank balance ($12,900), petty cash balance ($400), and cash in the register ($757). Cash and cash equivalents = $6,955 + $12,900 + $400 + $757= $21,012.
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the city of lawrence recently was hit by a tornado, leaving many families in need of food, clothing, shelter, and other necessities. betty contributed $500 to a family whose home was completely destroyed by the tornado. jack contributed $700 to the family's church, which gave the money to the family. assume both taxpayers itemize their deductions.
To itemize, taxpayers must keep track of donations throughout the year and provide records.
Taxation is the process by which governments impose a financial charge on individuals or legal entities to fund various public expenditures. Tax deductions reduce the amount of tax that an individual has to pay. Betty and Jack, as taxpayers, have made donations to the family who suffered a loss due to the tornado.
Betty's s donation is entirely deductible, whereas Jack's donation is deductible only if the family's church is qualified by the Internal Revenue Service because the church, as a qualified charitable organization, can claim tax-exempt status.
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Direct labor was used in production; to be paid next month. Which of the following entries would be used to record this event?
a. Debit Work in Process and credit Salaries and Wages Payable.
b. Debit Work in Process, debit Manufacturing Overhead, and credit Direct Labor.
c. Debit Work in Process, debit Manufacturing Overhead, and credit Salaries and Wages Payable.
d. Debit Manufacturing Overhead and credit Salaries and Wages Payable.
c. Debit Work in Process, debit Manufacturing
Option C would be used to record the event of direct labor being used in production, as it involves "debiting Work in Process and Manufacturing Overhead while crediting Salaries and Wages Payable."
All are used to account for the cost of labor to be paid next month.
This entry recognizes the cost of labor as a component of the cost of goods produced, which is recorded in the Work in Process account, while also accounting for the indirect costs associated with production in the Manufacturing Overhead account.
The Salaries and Wages Payable account is credited to indicate that payment for the labor will be made in the future, as it has not yet been incurred.
Option C is the most appropriate choice as it correctly recognizes the use of direct labor in production and accounts for it in the appropriate accounts. Debiting the Work in Process account reflects the cost of labor as a component of the cost of goods produced, while debiting the Manufacturing Overhead account accounts for indirect costs associated with production.
Finally, crediting the Salaries and Wages Payable account indicates that payment for the labor will be made in the future, and that the cost has not yet been incurred.
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Private solutions to externalities are MOST likely to occur when there are:
communal property rights and large numbers of buyers and sellers with equal bargaining power.
private property rights and high transaction costs.
communal property rights and large numbers of sellers.
well-defined property rights and low transaction costs.
Private solutions to externalities are MOST likely to occur when there are well-defined property rights and low transaction costs. This means that each party has a clear understanding of the ownership of a good or service, and the costs associated with a transaction are minimal. The correct answer will be option D.
The most likely solution to externalities is private, which occurs when there are well-defined property rights and low transaction costs.
Externalities are costs or benefits of the production and consumption of goods and services that are not considered or paid for by the agents who are responsible for them. As a result, the social cost of producing and consuming goods and services is greater than the private cost.
Well-defined property rights are essential for the economy to work efficiently. They play a critical role in determining the conditions under which people trade with one another, as well as the extent of the competition that emerges between them.
Therefore correct answer will be option D.
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Consolidating entries (market value differs from book value)Assume that on January 1, 2013, an investor company acquired 100% of the outstanding voting common stock of an investee company. The following financial statement information was prepared immediately after the acquisition and presents the acquisition-date balance sheet for the pre-consolidation investor company, the investee company and the consolidated financial statements for the investor and investee.Invest Investee ConsolidatedCash & receivables $500,000 $62,500 $562,500Inventory 375,000 156,250 531,250Property & equipment $1,437,500 $500,000 2,000,000Investment in investee $437,500 _ _Identifiable intangible _ _ 68,750Goodwill _ _ 30,000Total assets $2,750,000 $718,750 $3,192,500Current liabilities $250,000 $125,000 $375,000Accrued expenses 187,500 _ 187,500Bonds payable _ $312,500 317,500Common stock 1,043,750 62,500 1,043,750Additional paid-in capital 893,750 78,125 893,750Retained earnings 375,000 140,625 375,000Total liabilities and equity $2,750,000 $718,750 $3,192,500In preparing the consolidated financial statements, what is the amount of the debit or credit made to the "investment in investee" account as part of the [A] consolidating entry? (Recall from the chapter that the [A] consolidating entry reclassifies the acquisition accounting premium from the investment account to the individual net assets that require adjustment from book value to fair value.)A. $30,000B. $161,250C. $156,250D. $437,500
When preparing the consolidated financial statements, the investment in investee account requires a debit of $437,500 as part of the consolidating entry.
A consolidation elimination journal is a journal specially created by a company to eliminate or eliminate all reciprocal account balances between its headquarters and subsidiaries or branches. A consolidated report is a report that allows multiple investors to get a complete picture of the parent company.
This debit reclassifies the acquisition accounting premium from the investment account to the individual net assets that require adjustment from book value to fair value. Therefore the correct answer is D. $437,500.
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ctivity Rates and Product Costs using Activity-Based Costing Lonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows:
Activity BudgetedCost Activity Base Activity Casting 570,000 Machine hours Assembly 80,000 Direct labor hours
Inspecting 42,000 Number of inspections
setup 38,000 Number of setups
material handling 23,750 Number of loads
Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 6000 13000 19000
Direct labor hours 3000 2000 5000
Number of inspections 600 400 1000
Number of setups 300 200 500
Number of loads 450 500 950
Units produced 6000 3000 9000
a. Determine the activity rate for each activity. b. Use the activity rates in (a) to determine the total and per-unit activity costs associated with each product. Round the per unit amounts to the nearest cent.
a. To determine the activity rate for each activity, divide the budgeted cost by the total activity base.
Activity Budgeted Cost Activity Base Activity Rate
Casting 570,000 Machine hours 30.53
Assembly 80,000 Direct labor hours 16
Inspecting 42,000 Number of inspections 42
Setup 38,000 Number of setups 76
Material Handling 23,750 Number of loads 25
b. To determine the total and per-unit activity costs associated with each product, multiply the activity rate by the activity base for each product.
Entry Dining Total
Machine hours 30.53 x 6000 = 183,180 30.53 x 13,000 = 396,890 579,070
Direct labor hours 16 x 3000 = 48,000 16 x 2000 = 32,000 80,000
Number of inspections 42 x 600 = 25,200 42 x 400 = 16,800 42,000
Number of setups 76 x 300 = 22,800 76 x 200 = 15,200 38,000
Number of loads 25 x 450 = 11,250 25 x 500 = 12,500 23,750
Total Activity Cost 307,430 297,190 604,620
Per-unit Activity Cost Entry Dining
Machine hours 30.53 x 6000 = 30.53 30.53 x 13,000 = 30.53
Direct labor hours 16 x 3000 = 8 16 x 2000 = 8
Number of inspections 42 x 600 = 4.2 42 x 400 = 4.2
Number of setups 76 x 300 = 3.8 76 x 200 = 3.8
Number of loads 25 x 450 = 2.5 25 x 500 = 2.5
Total Activity Cost 51.03 49.03
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