Answer:
C. Deposits are money, checks are not money, and credit cards are not money.
Explanation:
Money can be defined as any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world. Thus, it's any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
In this context, the true and only correct statement is that, deposits are money, checks are not money because they are not a legal tender, and credit cards are not money because it's a plastic card used for e-commerce based on money being in the account of the holder.
Required: Journal entry Received Rs.18,000 from debtors and discount allowed him Rs. 2,000. please help.
Answer:
If there was a discount allowed of Rs. 2,000 then it means that the total amount the debtor was owing was:
= Cash paid by debtor + Discount allowed
= 18,000 + 2,000
= Rs. 20,000
Journal entry is therefore:
Date Account Title Debit Credit
XX-XX-XXXX Cash $18,000
Discount allowed $ 2,000
Accounts Receivable $20,000
which of the following is the best example of social regulations?
a. inflation rate regulations
b. anti-trust legislation
c. health and safety standards
d. regulations against price gouging
Answer:
Explanation:
The answer is C
Answer:
Health and safety standards
Explanation:
I just got it correct on the test!!!
If a nation has a comparative disadvantage in the production of some commodity: Group of answer choices it cannot gain from international trade unless it has an absolute advantage in every other commodity. it can gain from international trade in that commodity only if it has an absolute advantage in that commodity. it cannot gain from international trade in the commodity. it can still gain from international trade in that commodity, by getting it at a lower opportunity cost than if it produced it domestically.
Answer:
it can still gain from international trade in that commodity, by getting it at a lower opportunity cost than if it produced it domestically.
Explanation:
A country has comparative disadvantage in production if it produces at a higher opportunity cost when compared to other countries.
The country with a comparative disadvantage can gain from trade by trading the good with a country that has comparative advantage in the production of that good. i.e. the country produces at a lower opportunity cost
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country B has a comparative disadvantage in the production of beans and country A has a comparative disadvantage in the production of rice
Country B should buy beans from A and A should buy rice from B
China allows U.S. companies to ally with Chinese firms by purchasing minority ownership positions in the Chinese firms. These relationships are called
A) joint ventures.
B) network strategies.
C) equity strategic alliances.
D) nonequity strategic alliances.
Answer:
C) equity strategic alliances.
Explanation:
100% correct
A homeowner who regularly borrowed garden tools from his neighbor went to the neighbor's house to borrow the neighbor's leaf blower. The neighbor was not at home, but the leaf blower was in his unlocked garage with his other garden tools, and so the homeowner took it. Unbeknownst to the homeowner, the neighbor had drained the oil from the leaf blower's motor. The homeowner ran the leaf blower for an hour; the motor was totally destroyed because it had no oil. The value of the leaf blower at the time that the homeowner took it was $300. An identical new leaf blower costs $500. The cost of repairing the motor is $150. A new motor will cost $250. If the neighbor sues the homeowner on a theory of conversion and is successful, what damages can he recover
Answer:
$ 300 but the home owner will keep the leaf blower.
Explanation:
If the neighbor is successful in the conversion action, FMV of the leaf blower converted will be the measure of the damages done by the homeowner. The damage value or the FMV is computed or considered as of the place of the conversion and the time.
In this case, the leaf blower when the homeowner damaged it have the value of $300 at that time. So that is the amount i.e. $ 300, the neighbor is entitled to, but at the same time, the homeowner gets the leaf blower after paying the $ 300 to the neighbor.
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $212,400 of raw materials on credit; issued materials to production of $207,000 of which $33,600 were indirect. Minstrel incurred a factory payroll of $157,200, of which $43,600 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $16,700 and $29,400 respectively. Compute the cost of jobs transferred to Finished Goods Inventory.
Answer:
$444,700
Explanation:
Use the following formula to calculate the cost of products transferred to finished goods
Cost of products transferred to finished goods = Beginning inventory + direct materials + Direct labor + Applied OH 150% - Ending Inventory
Placing values in the formula
Cost of products transferred to finished goods = 16,700 + ( $207,000 - $33,600 ) + ( $157,200 - $43,600 ) + ( ( $157,200 - $43,600 ) x 150% ) - $29,400
Cost of products transferred to finished goods = 16,700 + 173,400 + 113,600 + 170,400 - $29,400
Cost of products transferred to finished goods = $444,700
It's very urgent
which of the following statements about corporation is true
1) they are more common then partnerships in the U.S.
2) they are the most inexpensive form of business to start.
3) they are very easy to start
4) all business debts are the personal responsibility of the owners
Answer: While not usual they can be held responsible for all business debts.
Explanation: If you pledge a asset as a collateral a creditor may be able to take said asset and sell it.
1. If average fixed cost is 40 and average variable cost is 80 for a given output, we then know that average total cost is
Answer:
120
Explanation:
Average total cost = average fixed cost + average variable cost
average fixed cost = Total fixed cost / quantity
40 + 80 = 120
Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments
average variable cost = total variable cost / quantity
Variable costs are costs that vary with production. Hourly wage costs and payments for production inputs are examples of variable costs
When a transfer has no effect on fixed costs, to be acceptable to the selling division, the transfer price must ______. Multiple select question. cover any opportunity cost from lost sales cover a reasonable portion of the selling division's fixed costs cover any lost contribution margin due to the transfer equal the product's normal selling price cover the variable costs per unit
Answer:
• cover any opportunity cost from lost sales
• cover any lost contribution margin due to the transfer
• cover the variable costs per unit
Explanation:
A transfer is done from one division in a company to another.
When such is done, the transfer price should cover any opportunity costs that the division doing the transferring would be incurring to do so that way they would not make an economic loss.
Lost contribution margin should be covered as well for the same reason which is avoidance of cost.
Variable costs have to at least be covered so that the division does not make an accounting loss.
12. One of the seven factors given to help minimize the chances of setting unfair wages and salaries is that a. If wages conform with the law, they are fair wages. b. A fair wage is whatever an employee is willing to accept. c. An employer's financial capabilities affect what constitutes a fair wage scale for that employer's employees. d. Avoiding the prevailing wage in the industry and community wage level.
Answer:
C. An employers financial capabilites affect what constitutes a fair wage scale for that employers employees
Explanation:
Economists generally argue that:
A. costs of moderate inflation are nearly zero whereas high inflation is quite costly.
B. high inflation is costly, but costs of moderate inflation are not nearly as large as the public believes.
C. costs of both high and moderate inflation are quite large.
D. neither high inflation nor moderate inflation is very costly.
Answer: A. costs of moderate inflation are nearly zero whereas high inflation is quite costly.
Explanation:
Economists generally believe that moderate inflation is actually good for the economy as prices need to increase in a healthy manner overtime in order to drive consumption. This means that to them, the cost of moderate inflation is nearly zero.
This is a sharp contrast to high inflation which most economists generally believe to be costly as it reduces the savings of people as well as their real wages and welfare.
A builder and a wealthy landowner entered into a written contract whereby the builder would build on the grounds of the landowner's estate a mausoleum, using imported Italian granite, to hold the remains of the landowner's recently deceased wife. The cost of the mausoleum was set at $100,000. After the contract was signed but before construction began, the builder learned that an unforeseen embargo prevented him from getting the granite he planned to use to build the mausoleum. He could get the granite from another source, but it would cost an additional $25,000. The builder explained the situation to the landowner, who agreed to pay $125,000 to have the mausoleum built. The builder prepared a writing stating that the price for the mausoleum was now $125,000. Both the builder and the landowner signed the writing. After the work was completed, the landowner gave the builder a certified check for $100,000 and refused to pay one penny more.If the builder brings suit against the landowner to recover the additional $25,000, will the builder likely prevail?A Yes, because the modification was fair and equitable in view of the unanticipated increase in the cost of granite.B Yes, because the later agreement was in writing and signed by the parties.C No, because the builder had a preexisting duty to do the work for $100,000.D No, because the 25% increase in price that the builder was trying to force on the landowner is unconscionable.
Answer:
If the builder brings suit against the landowner to recover the additional $25,000, the builder will likely prevail:
A Yes, because the modification was fair and equitable in view of the unanticipated increase in the cost of granite.
Explanation:
When the parties signed the original contract, the embargo on the importation of granite was not fully anticipated. When the builder brought the modification to the landowner's attention, the landowner did not object. Instead, he gladly and understandably signed the modified terms. It was based on his modified agreement that the builder was able to perform his own side of the contract. Therefore, the landowner should be honorable enough to abide by the modified contract price, which is, overall, not unconscionable.
Cardinal Company manufactures vitamin capsules. For the month of June, Cardinal's encapsulating department had 18,000 tons in beginning inventory (with transferred-in costs of $4,400) and 81,000 tons completed inventory during the month. Further, the mixing department completed and transferred out 72,000 tons at a cost of $22,300 in June. Calculate unit cost for the transferred-in category. (Note: Round answer to two decimal places.)
Answer: $0.30 per unit
Explanation:
The unit cost for the transferred-in category is calculated as:
= (Transfer cost of beginning inventory + transfer cost of transferred out inventory) / (Beginning inventory + Inventory transferred out)
= (4,400 + 22,300) / (18,000 + 72,000)
= 26,700 / 90,000
= 0.2967
= $0.30 per unit
Products produced in a competitive market are
differentiated
unique
standardized and differentiated
standardized
Answer:
Standardized
Explanation:
Firms that are purely competitive provide a standardised (same or homogenous) product. Consumers will be unconcerned about whose vendor they acquire the goods from as long as the pricing is the same.
Monopolistically competitive companies make a typical profit in the long run since entrance into the market is easy. The sort of goods supplied distinguishes oligopoly from perfect competition.
outline two benefits to Mohammed's business of all his workers being able to do all of the jobs in the bakery. pls help!
Answer:
1. Saved time
2. Saved cost
Explanation:
If Mohammed owns a bakery where all his workers are able to do all the jobs, he benefits because he would;
1. Save time: Time that would have been spent in outsourcing the job to people who can do them with the accompanying risks of delays and disappointments are bypassed. Time is an essential factor in business because when goods are not available on customer's demand, they might have to seek other options.
2. Save cost: Mohammed will save the additional cost of payments to businesses that do other jobs for him. He saves money when he only has to pay three workers instead of four or more workers. This will mean more profit for his business.
Suppose Stan owns a piece of property with a large lake. Initially, Stan and his family were the only people who swam in the lake. Then Stan started selling tickets to people who wanted to go swimming in the lake. When Stan died, he left the lake and the land it was on to the state, stipulating that the lake be left open to the public for swimming. Due to the lake’s remote location, it was never crowded. After Stan died, the lake became a ______ good.
Answer:
public
Explanation:
A public good is a good that is non excludable and non rivalrous.
An individual's access to the pool does not limit another person's access
Also, the pool is free, so it is non excludable
Before his death, the pool was a private good
A private good is a good that is excludable and rivalrous.
General Snacks is a typical firm in a market characterized by the model of monopolistic competition. Initially, the market is initially in long-run equilibrium, and then there is an increase in demand for snacks. We expect that: Group of answer choices in the long run, new firms will enter the market. there will be a short-run increase in the number of firms, but in the long run the number of firms will return to the original level. firms will leave the market in the long run. firms will shut down, but they will not leave the industry in the long run.
Answer:
Firms will leave the market in the long run.
Explanation:
Firms will leave the market in the long run.
Generally, the new firms enters in the market because the incumbent firms makes super normal profit. So in the long run, the continuous entry of firms will make the profit zero. Thus, when there is zero profit in the long run then the firms will start leaving the market and the demand for remaining firms will start rising because when firms start leaving the market then supply falls.
A country's current national savings and investment identity is expressed in algebraic terms as X-M = S + (G-T) - 1. In this instance:
A. there is an inflow of capital investment from the rest of the world economy.
B. there is no connection from domestic savings and investment to the trade balance.
C. the trade balance is determined by performance of certain sectors of the economy.
D. private and public domestic savings are higher than domestic investment.
Answer:
The answer is "Option A".
Explanation:
The present national reinvestment identity of a nation is expressed as [tex]X-M = S + (G-T) - 1.[/tex] In mathematical terms Inside this example, all remainder of the said world economy would be inflowing capital expenditures.
Capital investment from all around the world is coming in.
CurrentAccount and Investment Saving
[tex]C=consumption\\\\ I= investment\\\\ G=government\ spending\\\\ (X-M) = foreign \ net \ demand[/tex]
So, the [tex]CA = GNP (C+I+G)[/tex]
Domestic savings are greater than the corresponding investment, both private and public.
The rate of pay rises when capital investment exceeds anticipated saving in a given year. With a larger salary, more money can be saved, and so therefore planned saving equals intended investments. And from the other hand, when projected saving exceeds planned investments over a time, income levels decline.
So, Option "D" is the correct answer to the following question.
Learn more:
https://brainly.com/question/15567481?referrer=searchResults
When Jorge became one of three final candidates for a managerial position with a large pharmaceutical company, the hiring manager scheduled a special meeting with him. The two talked about the stressful deadlines and heavy travel required of the position, as well as the compensation and benefits. Jorge appreciated that the hiring manager took the time to provide a(n) _________.
Answer:
Realistic job preview
Explanation:
Realistic Recruitment
This is made presents to outsiders with all good information without error or ommission.
Realistic Job Preview (RJP)
This is regarded as any attempt by the organization to give an accurate (both positive and negative) description of the relevant aspects of the job and organization. It is important because it gives an applicant realistic expectations about the job. This in turn should increase employee job satisfaction and reduce turnover.
Gary has to stay late at the office to complete a project with an upcoming deadline. Furthermore, while he's working late, his boss emails him to inform him that the upcoming meeting for the project has been moved to the same time as his daughter's soccer game. Now Gary cannot attend his daughter's soccer game because of the work meeting. What kind of work-family conflict (WFC) is Gary experiencing
Answer:
time-based
Explanation:
From the question we are informed about Gary who has to stay late at the office to complete a project with an upcoming deadline. Furthermore, while he's working late, his boss emails him to inform him that the upcoming meeting for the project has been moved to the same time as his daughter's soccer game. Now Gary cannot attend his daughter's soccer game because of the work meeting. In this case, kind of work-family conflict (WFC) Gary is experiencing is Time-based.
Time-based conflict can be regarded as the conflict that comes up as a result of devoting a time for a role which makes it to be difficult to be able for someone to participate in role different from first role.
"I don't know, but I'll find out" is a customer service example of…
B a dangerous admission.
C losing a sale.
D magic words.
A(Not the answer) an uninformed sales rep.
Answer:
C. losing a sale.
Explanation:
CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction.
Simply stated, it's a strategic process which typically involves collecting customer information for the purpose of improving a customer's future experience.
Therefore, this set of employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.
A salesperson can be defined as an individual or employee who is saddled with the responsibility of taking orders from customers, as well as sales of finished goods and services to consumers or end users.
A lost sale can be defined as a situation in which a salesperson or business firm looses a selling opportunity for a variety of reasons such as going out of stock, unavailability of a brand (product line), lack of product knowledge, etc.
This ultimately implies that, a process in which a salesperson looses a sales opportunity due to one reason or the other is referred to as losing a sale.
Hence, "I don't know, but I'll find out" is a customer service example of losing a sales because the customer (buyer) may not be patient enough to get the feedback while others might walk away immediately in search of the product or service elsewhere.
Answer:
It is magic words
Explanation:
I took the test got it right
Solaris Autos Inc., a large automobile company, made an initial small investment in a start-up company that was developing a solar-powered car. This gave Solaris Autos controlling interests in the start-up company. However, Solaris Autos had no obligations to make continued investments in the experiments of the start-up company. It could invest small amounts depending on the new product's success at each stage of its development. If the product proved to be successful, Solaris Autos would have the right to buy out the start-up company. This approach to strategic alliance is referred to as
Answer:
real-options perspective
Explanation:
From the question we are informed about Solaris Autos Inc., which is a large automobile company, made an initial small investment in a start-up company that was developing a solar-powered car. This gave Solaris Autos controlling interests in the start-up company. However, Solaris Autos had no obligations to make continued investments in the experiments of the start-up company. It could invest small amounts depending on the new product's success at each stage of its development. If the product proved to be successful, Solaris Autos would have the right to buy out the start-up company. This approach to strategic alliance is referred to as real-options perspective. A real option can be regarded as an approach that bestow management of a firm the right, so that they can undertake certain business opportunities as well as an investments. Real option can be regarded as projects that contains tangible assets versus financial instruments. Real options could involves decision to expand as well as decision to defer project entirely.
Bardwell Manufacturing, Inc. began 15 years ago. The two co-owners now earn $300,000 per year each. Four supervisors earn $40,000 each annually and have been with the company for 10 to 11 years. Fifteen line employees earn a total of $300,000 and have been with the company from 2 months to 5 years. All employees are over age 21. The co-owners want to install a 15% money purchase plan and structure the plan in a way that maximizes their plan contributions. Which vesting schedule would be most appropriate for Bardwell
Answer:
3 year cliff
Explanation:
The most appropriate vesting schedule for Bardwell Manufacturing Inc is the 3 year cliff
Andrea, a sales associate in the fine china department of the David's Department Store, reports to Chris, the home furnishings department manager. This morning, Chris asked Andrea to change the price tags on the crystal wine glasses. While working on this task, Pietro, the bedding department manager, told Andrea that he wanted her to unload some comforters. To solve this conflict, Andrea turns to the principle of unity of command under which Group of answer choices Andrea needs to decide which manager has more power. Andrea can refuse to do both tasks. employees should report to no more than one manager. employees can report to two managers, so Andrea needs to decide whose directions to follow. Andrea will need to determine how she can multitask.
Answer: employee should report to no more than one manager.
Explanation:
Under the principles of war, it should be noted that the unity of command simply means that all the responsibility of all the forces are under one commander. The commanders possesses the authority to direct and control all the forces in order to achieve q common goal.
Therefore, in this scenario, Andrea should report to Chris who is the home furnishings department manager since Chris is his immediate manager as he can only follow the order of one boss.
Pelican Bay Apartments is a complex consisting of 80 units. The units are available in studio and one-, two-, and three-bedroom apartments. Kimberly Bracco is the property manager of Pelican Bay. She has decided to stay in her condo and not reside at Pelican Bay. She is also pursuing her California real estate license as she manages the property. Is anything wrong with this scenario
Answer:
Yes
Explanation:
According to California law an onsite manager is required for an apartment complex that has more than 16 rental units.
In the given scenario Pelican Bay Apartments is a complex consisting of 80 units. The units are available in studio and one-, two-, and three-bedroom apartments.
Kimberly Bracco is the property manager and has decided to stay in her condo and not reside at Pelican Bay which is off site.
However if she is to be off site then she will need a broker's licence.
Smith, an individual calendar-year taxpayer, purchased 100 shares of Core Co. common stock for $15,000 on December 15, Year 1, and an additional 100 shares for $13,000 on December 30, Year 1. On January 3, Year 2, Smith sold the shares purchased on December 15, Year 1, for $13,000. What amount of loss from the sale of Core's stock is deductible on Smith's Year 1 and Year 2 income tax returns
Answer:
Year 1 = $0Year 2 = $0Explanation:
Stock was sold in year 2 so there is no loss that would be deductible from Smith's Year 1 income tax returns.
In year 2, the stock was sold for $13,000 even though it was bought for $15,000. There is therefore a loss of $2,000.
This $2,000 results from a wash sale however so it will not be deductible. A wash sale is used to describe a scenario where stock from one transaction is sold but was the investor buys that same stock in another transaction 30 days before or after they sold the former.
As Smith purchased another $13,000 worth of stock merely 16 days before he sold the first batch, this is a wash sale and its loss is not deductible.
In preparing its bank reconciliation for the month of April 2018, Crane, Inc. has available the following information. Balance per bank statement, 4/30/18 $78200 NSF check returned with 4/30/18 bank statement 950 Deposits in transit, 4/30/18 9600 Outstanding checks, 4/30/18 10300 Bank service charges for April 50 What should be the adjusted cash balance at April 30, 2018
Answer:
the adjusted cash balance is $77,500
Explanation:
The computation of the adjusted cash balance is shown below:
Adjusted cash balance = balance pler bank statement + deposit in transit - outstanding checks
= $78,200 + 9,600 - 10,300
= $77,500
Hence, the adjusted cash balance is $77,500
The same should be considered and relevant
Azure, a C corporation, reports the following: Pretax book income is $543,000. Depreciation on the tax return is $20,000 greater than depreciation on the financial statements. Rent income reportable on the tax return is $36,000 greater than rent income per the financial statements. Fines for pollution appear as a $10,000 expense in the financial statements. Interest earned on municipal bonds is $25,000. What is Azure's taxable income
Answer:
Azure's taxable income is $544,000.
Explanation:
This can be calculated as follows:
Taxable income = Pretax book income - Excess depreciation + Prepaid rental income + Fines for pollution - Municipal interest income ………………… (1)
Substituting all the relevant values into equation (1), we have:
Taxable income = $543,000 - $20,000 + $36,000 + $10,000 - $25,000 = $544,000
Therefore, Azure's taxable income is $544,000.
Isabelle just took on a new listing, in which the owner is selling because a new freeway is being built right behind the house. The owner is concerned about the noise and other activity the freeway will bring, but doesn't want prospective buyers to know this. Which action best demonstrates good faith in this scenario
Answer:
Isabell tells the owner that this is a material fact related to the property that must be disclose to prospective buyers or Isabell will not be taking the listing
Explanation:
Good faith means honest dealing. It needs honest trust, motive, trustworthy duties, fairness, etc
So as per the given situation isabell informs the owner that it is a material fact with respect to the property and the same should be disclosed to the buyers for not taking the listing
So as per the given situation, the above statement should be considered
what skills does a farm manager need?
Answer:
Strong decision-making.
Problem-solving.
Communication.
The ability to work with people.
Leadership.
Administration skills.
Knowledge of key equipment practices.
Explanation:
They need to have free time. Without that free time...When will you be able to feed the plants? When will you be able to groom your horse? It also costs A LOT!! Because of the farm animals.
These are quite obvious but just in case I am going to list these for you:
Cow
Horse
Chicken
Donkeys (Optional)
Cats (Optional)
Peacocks (Very Optional due to the prices)
Sheep
Dogs (For the mice. Dogs have a supreme sense of smell. They can sniff out the mice.)
