In perfect competition, the assumption of easy entry and exit implies that In the long run all firms in the industry will earn zero economic profit.
What happens in perfect competition ?In a perfect competition, there are little to no barriers to entry which means that there is an assumption of easy entry and exit. In other words, any company can start trading in a perfectly competitive market.
The implication of this is that in the long run, all the firms in this industry will earn zero economic profits. The reason is that firms will enter when there is a short term economic profit and the sharing of profit will bring the profits down to zero.
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an employer agrees to pay $15,500 for medical insurance and contribute an additional 3% of the employees' $155,000 gross salaries to a retirement program. the entry to record these accrued benefits is: multiple choice credit to employee benefits expense $15,500. debit to payroll taxes expense $20,150. debit to employee retirement program payable $4,650. debit to medical insurance payable $15,500. debit to employee benefits expense $20,150.
Debit to Employee Benefits Expense $20,150.
When an employer pays for an employee's accident or health insurance the employer's payment is not wages and is not subject to Social Security Medicare and FUTA taxes or federal income tax withholding. Employer contributions do not have to be the same for singles and families and often are not.
When it comes to national averages employers typically pay an individual worker about 82% of their premiums and family members 70% of their premiums. Many health plans require patients to pay for a portion of the services they receive. This payment is called "co-insurance" and is usually a small percentage of service costs after the plan pays out the benefits. If the plan covers 70% of the cost the patient pays 30% of the cost.
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the broccoli market is perfectly competitive. this means that the price of broccoli is than the price would be if the market was monopolistically competitive, and broccoli output is than if it was monopolistically competitive. a) higher; lower b) higher; higher c) lower; higher d) lower; lower
The broccoli market is perfectly competitive, this means that the price of broccoli is lower than the price would be if the market was monopolistically competitive, and broccoli output in the market is higher than if it was monopolistically competitive.
What is a monopolistic competition?A monopolistic competition refers to a type of imperfect competition that exist when there are many producers competing against each other but selling products that are differentiated from one another and hence are not perfect substitutes
A restaurants, hair salons, household items, and clothing are examples of industries with monopolistic competition.
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Relaxicab Inc. is a 100-year-old, multinational enterprise (MNE). Which of the following activities would the company most likely have been involved in during the stage of Globalization 2.0?
- Relaxicab would have restricted all its business activities to its home country.
- It would have ventured into foreign markets essentially by exporting goods.
- Relaxicab would have organized itself as a global collaboration network with the help of internet technologies.
- It would have increased its local responsiveness to country-specific circumstances by duplicating business functions overseas.
The activity that the company most likely have been involved in during the stage of Globalization 2.0 is: It would have increased its local responsiveness to country-specific circumstances by duplicating business functions overseas.
What is globalization?The term "globalization" refers to the increasing interdependence of the economies, cultures, and populations throughout the world as a result of technology, cross-border trade in goods and services, and flows of capital, labor, and information.
Globalization is the quickening of worldwide movements and exchanges (of people, things, and services, money, technologies, or cultural norms). Globalization encourages and boosts interactions between various communities and locations around the world, which is one of its consequences.
The organization would have strengthened its local response to country-specific circumstances by duplicating corporate functions overseas. This activity would have taken place during the stage of globalization 2.0.
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Which of the following is a major reason why businesses fail financially?
Undercapitalization is a major reason why businesses fail financially.
What is undercapitalization?When a company lacks sufficient capital to conduct normal business operations and pay creditors, it is said to be undercapitalized. This can happen if the company does not generate enough cash flow or is unable to obtain forms of financing such as debt or equity.
Undercapitalized businesses do not have enough capital to pay their creditors and must frequently borrow more money. If a company is unable to generate capital over time, its chances of bankruptcy rise as it loses the ability to service its debts.
Therefore, undercapitalization can lead to a business failing financially .
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Your question is incomplete, the complete question was
which is a major reason why businesses fail financial?
undercapitalization, undervalued stock , poor use of marketing mix , expense controls are too rigid.
a gas station operates in a monopolistically competitive market and is in short run equilibrium. suppose that a fixed cost for this firm decreases. as a result, the firm's price will ______, the firm's output will ______, and the firm's economic profit will ______.
stay the same
stay the same
increase
The firm's price will stay the same, the firm's output will stay the same, and the firm's economic profit will increase.
What are the parameters of a monopolistically competitive firm's short-run equilibrium?A monopolistically competitive firm's short-term equilibrium is the same as a monopoly firm's. The company produces a good or service at a price where marginal revenue and marginal cost are equal, and it bases its price on the demand curve.
What is meant by economic profit?The difference between the proceeds from the sale of a product and the prices of all inputs used, as well as any opportunity costs, is known as an economic profit or loss. Opportunity expenses and explicit costs are subtracted from earned revenues to determine economic profit.
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Inaccurate forecasts can result in negative outcomes like: O High inventory costs and increased profits O Low inventory costs and stockouts O Imbalances in supply and demand O Material shortages and decreased costs of obsolescence
Inaccurate forecasts can result in negative outcomes like Imbalances in supply and demand. Thus the correct option is C.
What is the Outcome?Any topic's outcome gives information about the subject, including the major point, which aids the reader in evaluating the topic's advantages and disadvantages and formulating a conclusion as a result.
The availability of the desired item on the market is referred to as supply. If the supply of the requested commodities is not met, there is scarcity, which is brought on by an imbalance between supply and demand as a result of poor forecasting.
Inaccurate forecasting might result in poor judgments that harm your business rather than support your development strategies.
Therefore, option C is appropriate.
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The fed's actions do not change aggregate demand by any guaranteed amount, because it is not known __________
Due to the uncertainty surrounding the precise magnitude of M1 and M2 changes in reaction to changes in the monetary base, the Fed's actions have no assured effect on aggregate demand.
What are the Fed's top three activities?The Federal Reserve, also known as the Fed, is the most influential economic organization in the United States and possibly the entire world. Setting interest rates, controlling the money supply, and overseeing the financial system are some of its main functions.
What are the three things the Fed could do to help the economy?In order to control the money supply and promote stable economic growth, the Fed primarily employs three instruments. The instruments are: (1) reserve needs; (2) discount rate; and (3) open market transactions. Each of these has a unique effect on the money supply and has the ability to either increase or decrease the size of the economy.
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TRUE/FALSE. back in 2011, latin americans working in the united states sent an estimated 61 billion dollars to latin america.
Back in 2011, latin americans working in the united states sent an estimated 61 billion dollars to latin america. This is a true statement.
French ruler Napoleon III. He had a keen interest in expanding French commercial and political power in the region. He and his economic promoter Felix Berry called it "Latin America" to emphasize the Latin American background shared by France with the former viceroyalty of Spain and the Portuguese colony. The United States has attracted people from all over the world, bringing their own cultures and integrating them with what they find in America. The British founded the United States and therefore have the greatest influence on American culture. Other Europeans such as Germans, Irish, Italians and Russians also had a great deal of influence.
Africans were introduced as slaves and brought their own culture, making him one of the oldest contributing cultures in the United States. There are also Native Americans we found when the English and Spanish arrived. There is also a lot of influence from Asians. One of the most noticeable impacts is on the approximately 60 million Latin Americans in the United States. In summary, the United States is a melting pot because so many cultures contribute to the nation's culture.
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as long as the ads are not overly intrusive, most users opt to play free versions of games with ads over paid versions that do not have ads.
As long as the advertisements are not overly intrusive, most users opt to play free versions of online games with ads over paid versions that do not have ads under digital marketing. This statement is true.
What are online games?Playing a video game online via means of internet browser or data services on electronic devices while connected to the internet, typically with other individuals.
Online games can be played on a variety of platforms, including PCs, laptops, and mobile phones, as well as specialized gaming consoles like PlayStations and Nintendo Switches.
Now a days for a digital marketing concept, online gaming is the best platform to launch and advertise the quality of products, gather the attention of potential customers.
Thus if free versions have less interruption due to advertisements paid versions of games will not be opted more.
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 Which of the following best describes how each share of par value stock issued is reported in the Common Stock account? Multiple Choice Lower of cost or market O ) Current market value O Average issue price O O Par or stated value Which of the following describes, in part, how the declaration of a stock dividend affects the elements of the financial statements? Multiple Choice Decreases paid-in capital in excess of par value-common Decreases total assets o no effect on total No effect on total stockholders' equity o oo Increases total stockholders' equity How does the payment of a previously declared cash dividend affect the elements of the financial statements? Multiple Choice None of these answer choices are correct. Increases liabilities and decreases stockholders' equity o Decreases liabilities and increases stockholders' equity oo Decreases assets and stockholders' equity
A common stock account is a general ledger that records the par value of all common stock issued by a company. If these shares are sold for more than their par value, the excess amount will be posted separately to an additional deposit account.
At issuance, common stock is recorded at par and any amount received in excess of par is recorded in the account as equity in excess of par. If spent on assets or services instead of cash, recognition is based on the fair value of the shares given.
Equity refers to the assets remaining in the company after all liabilities have been settled. This figure is calculated by subtracting total liabilities from total assets. Alternatively, it can be calculated by subtracting treasury shares from the sum of share capital and retained earnings.
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Trader wants to hedge a long stock position from short term downside risk. Which strategy best aligns to this goal? o Long straddle o Long strangle o Collar o Long call
The collar is the strategy that best aligns to this goal if Trader wants to hedge a long stock position from short term downside risk. Option C.
What is the collar in business?A collar strategy, also known as a hedge wrapper, enables an investor to lock in the investment's maximum gain and maximum loss. By buying shares, protective (out-of-the-money) puts, and simultaneously selling an out-of-the-money call option, an investor can build a collar.
A collar is an options strategy that comprises selling an upward call and purchasing a downside put and is used to limit significant upside gains while limiting large losses.
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insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is a(n) ________blank that consumers don’t normally think about much.
Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is an unsought product that consumers don't normally think about much.
What are unsought products?Although a buyer may feel pressured into purchasing a product they do not want, unsought commodities are frequently bought under certain circumstances, so a marketing strategy that harasses consumers into purchasing the product will be seen as immoral. A notable example of an unasked-for good is funeral services.
Unsought goods are those that consumers are unaware of or hardly ever think about purchasing and whose acquisition is motivated by a combination of risk or worry about harm and lack of desire. Examples of well-known but unpopular things are funeral services, encyclopedias, fire extinguishers, and reference books.
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the critical path for the network activities shown below is ________ with duration ________.
The critical path for the network activities shown below is A-D-E with duration 13.
What is Critical path?
Generally, The sequence A-D-E with a length of 13 seconds is the crucial route for the network activity indicated below.
Critical path activities are those activities that, if they are not finished on time, will cause a delay in the completion of the whole project.
In this particular scenario, action A serves as a direct antecedent for both activity D and activity E, which is the very last activity.
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the company has its camera and drone assembly facilities in: a)Thailand b)South Korea c) the United Statesd)Japan e)Taiwan
The business enterprise has its digital digicam and drone meeting centers in e)Taiwan.
The required details about Taiwan is mentioned in below paragraph.
Taiwan is famous for generating some specific things. Most well-known of all are its electronics and their components. These Taiwanese merchandise aren't arbitrarily well-known – they make up a large part of Taiwan’s exports and that they run the gamut of the entirety electric, from flat screensto contact screens, microchips to optical drives, etc.No rely what logo or sort of laptop you’re analyzing this on, the probabilities are overwhelming that a few part, or most, of what’s interior of it was made in Taiwan. The island of Formosa is the world’s biggest unmarried laptop chip producer, and that they made high-quality breakthroughs in contact display era that has spurred the cellphone revolution.
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Which of the following is an example of incidental damages you might be awarded if you are wrongfully terminated from your job?a. the costs of mailing resumes to prospective employersb. the costs of cosmetic surgeryc. the costs of psychological counselingd. the costs of a new wardrobe for future interviews
An example of incidental damages you might be awarded if you are wrongfully terminated from your job is the costs of mailing resumes to prospective employers.
Incidental damages- Incidental damages are expenses incurred by the non-breaching party to avoid other direct and consequential losses resulting from the breach.
The following types of damages are possible:
1] Ordinary damages. 2] Special damages. 3] Vindictive or Exemplary damages. 4] Nominal damages. 5] Damages for Deterioration caused by Delay. 6] pre-fixed damages.
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What happens during a bank run?
a. Customers withdraw more money than the bank has on hand.
b. The federal government orders all banks to close.
c. States charter more banks than their citizens need.
d. the price of gold specie suddenly increases.
In the years leading up to the War of 1812, the U.S. economy had been on the upswing.
b. The federal government orders all banks to close.
The war with Britain, however, disrupted foreign trade. As one of the United States’ largest trading partners, Britain used its navy to blockade U.S. trade with other nations.
The war prevented U.S. farmers and manufacturers from exporting merchandise, blocked U.S. merchants and fisherman from sailing the high seas, and curtailed federal government revenues, which were derived mainly from tariffs on trade.
By 1815, the United States found itself heavily in debt, much like it had been at the end of the Revolutionary War thirty years earlier.
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the historical discount rate of the firm may be a good indicator of the appropriate discount rate to apply to the firm in the future, when all of the following conditions hold true except:
The discount rate is used to discount the future cash flows of a stock must be the equity cost of capital for the stock.
What is the discount rate's mathematical formula?The two basic formulas for calculating the discount rate are the weighted average cost of capital (WACC) and the adjusted present value (APV). The WACC discount formula is: WACC = E/V x Ce + D/V x Cd x, whereas the APV discount formula is: APV = NPV + PV of the impact of financing (1-T).
What does the discount rate for NPV imply?Either the cost of borrowing money or the anticipated rate of return for investors. If shareholders expect a return of 12%, the company will use that rate to calculate NPV. If the company pays 4% interest on its debt, it is permitted to use 4% as the discount rate.
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Which Agile Team event supports relentless improvement?
• Iteration Retrospective *
• Backlog refinement
• Iteration Planning
• Iteration Review
A Product Manager is working for an insurance company and is responsible for the internal systems used for managing claims. This is an example of what kind of Value Stream?
• Development Value Stream *
• Operational Value Stream
• Customer journey Value Stream
• Claims processing Value Stream
Which function is responsible for ensuring that the Agile Release Train has the content needed to successfully engage in Program Increment Planning?
• Release Train Engineer *
• Lean-Agile Center of Excellence
• Product Owner
• Product Management
What is the purpose of Iteration Goals?
• To align the team members and the Product Owner (PO) to the mission
• To ensure the team accomplishes all the committed Stories each Iteration *
• To provide the baseline required for measuring the team's performance
• To hold the team accountable to their goal
An Agile Release Train (ART) has implemented a completely automated Continuous Integration/Continuous Delivery (CI/CD) pipeline that can deploy code as it is checked into the source-code repository. How might a Product Owner (PO) adjust team events to take advantage of this capability and promote the flow of value?
• Identify Stories that are cleared for automatic delivery during Iteration Planning
• Release Stories that have been included in the team demo
• Review and accept Stories as they are completed
• Implement Feature toggles to control which Stories are released *
I put an asterisk next to the choices I think it is. Thanks for your help.
1. The Agile Team event supporting relentless improvement is A. Iteration Retrospective because it enables Agile Team members to discuss Iteration results, review practices, and identify improvements.
2. When a Product Manager works for an insurance company and is responsible for the internal systems for managing claims, it shows an example of B. Operational Value Stream.
3. 3. The function responsible for ensuring that the Agile Release Train has the content to engage successfully in Program Increment Planning is D. Product Management because they work with customers and Product Owners to understand, communicate and participate in solution validation.
4. The purpose of Iteration Goals is A. To align the team members and the Product Owner (PO) to the mission, ensuring agreement on the intended business value, team objectives, and shared purpose.
5. A Product Owner (PO) might adjust team events by A. identifying stories that are cleared for automatic delivery during Iteration Planning.
What is an Agile Team?An Agile Team (a scrum team) consists of the product owner, the scrum master, and the development team members.
In forming an Agile Team, employees, contractors, or freelancers can be selected and made responsible and wholly dedicated to executing the Agile project without any obligations to other projects.
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assume that the federal reserve (fed) sets the federal funds rate target at 4% and conducts open market operations to hit the 4% target. shift the appropriate curve to show the fed meeting its target. federal funds rate reserves at the fed 0 10 20 30 40 50 60 70 80 90 100 0 1 2 3 4 5 6 7 8 9 10 federal funds rate (current) federal funds rate (target) demand for reserves supply of reserves
The FFR in a roundabout way influences even longer-term hobby rates. Investors desire a greater fee for a longer-term Treasury note. The yields on Treasury notes in a roundabout way force long-term traditional personal loan hobby rates.
When the Federal Reserve decreases the federal cash goal charge the decrease fee is done through?This alternative is right because to decrease the federal fund's target rate, the Federal Reserve purchases authorities bonds which reduces the pastime rate, and extra cash in terms of the reserve is stored through the people of the nation.\
When the Fed will increase rates, the market costs of present bonds right now decline. That's due to the fact new bonds will soon be coming onto the market providing buyers greater pastime rate payments.
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a. Product produced 38000 units
b. Direct materials requirements 334400 lbs.
Define direct materials costThe total cost of all raw materials (also known as productive materials, raw materials, raw stock, and stocks), as well as specialized parts and sub-assemblies, utilized in the manufacturing process is divided by the number of units produced to arrive at the direct materials cost (DM) per unit.
Given:
One unit of a product takes 8.0 pounds of direct materials to produce
Each quarter has closing inventory of direct materials enough to produce 25% of planned production.
Therefore if 76,000 pounds of material is the closing inventory of previous quarter, it is equal to produce 25% of planned production this quarter.
Units of product planned for production = (closing inventory of materials / 8 pounds per material) /25%
Implies, the product produced in Q1 is:
Product produced = (ending inventory of materials / 8 pounds) /25%
= (76,000/8) /25% = 38000
38,000 units were planned to be produced in Q1 of new year.
If the production increases by 10% in the 2nd quarter, the planned production for Q2 is:
planned production for Q2
= Produced produced + produced produced × 10%
= 38,000 + 38,000 × 10%
= 41800
The direct material to produce the above quantity is:
Direct material required for Q2
= planned production for Q2 × 8 pounds per unit
= 41800 × 8 = 334400
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The complete question is:
Ajax Manufacturing produces a single product, which takes 8.0 pounds of direct materials per unit produced. The company's policy is to maintain an end-of-quarter inventory of materials equal to 25 percent of the following quarter's material requirements for production. Assume that it is currently at the end of the first quarter of the new year, and there were 76,000 pounds of material on hand.
a. How many units of product were produced in the first quarter of the year?
b. Under the assumption that production will increase by 10 percent in the second quarter, what are the direct materials requirements (in pounds) for planned production in the second quarter?
a. Product produced units
b. Direct materials requirements lbs.
if a company reports a net loss it means
Answer: Negative net profit
Explanation:
A net loss occurs when the sum total of expenses exceeds the total income or revenue generated by a business, project, transaction, or investment.
Answer: Negative net profit
Explanation:
barnard inc. variable costing income statement for the year ended march 31, 20y1 sales $648,000 variable cost of goods sold: variable cost of goods manufactured $364,000 inventory, march 31 (52,000) total variable cost of goods sold (312,000) manufacturing margin $336,000 total variable selling and administrative expenses (76,800) contribution margin $259,200 fixed costs: fixed manufacturing costs $165,200 fixed selling and administrative expenses 52,800 total fixed costs (218,000) operating income $41,200
The income statement can be defined as a company’s one of the most important financial statements that indicates profit and loss for an accounting yea
How did this occur?
Let us assume that the number of goods were 10000. For the variable costing concept, the unit cost of goods manufactured is calculated by dividing the total variable cost of goods manufactured ($827400) by the number of units (10,000), resulting in a unit cost of $82.74. For the absorption costing concept, the unit cost of goods manufactured is calculated by adding the total variable cost of goods manufactured ($827400) and the total fixed manufacturing costs ($378000) and then dividing the result by the number of units (10,000), resulting in a unit cost of $120.54.
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Which of the following accounts is credited by the seller when tax is collected on retail sales?! O A. Payroll Tax OB. Sales Tax Payable O c. Unearned Revenue OD. Accounts Payable
Sales Tax Payable accounts is credited by the seller when tax is collected on retail sales. Hence option (b) is the answer.
Is sales tax payable liability or expense?The total amount of sales taxes a company has gathered from clients on behalf of a governing tax authority is maintained as sales taxes payable. The company is responsible for timely remitting these monies to the government as the custodian of those funds. Typically, sales tax and use tax are shown as current liabilities on the balance sheet.
Due to the fact that the tax is a proportion of overall sales, they are both paid directly to the government and are based on the number of goods or services sold. The sales tax collected from customers on behalf of the overseeing tax authority is recorded in the balance sheet as a liability account called Sales Tax Payable.
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In the following expression, the variable truckweight has the value 70000 and the variable weightlimit has the value 80000. truckweight < weightlimit what value does the expression evaluate to?
a. 70000
b. 80000
c. true
d. false
In the following expression, the variable truck weight has the true value does the expression evaluate. Thus, option (C) is correct.
What is the value?Values are the benchmarks or ideals by which we judge the acts, traits, possessions, or circumstances of others. Values that are embraced by many include those of beauty, honesty, justice, peace, and charity. Values are the benchmarks or ideals by which we judge the acts, traits, possessions, or circumstances of others. Values that are embraced by many include those of beauty, honesty, justice, peace, and charity.
Life values are the essential core beliefs that direct your actions and objectives as well as assist you in determining your level of overall success in life. For many people, values start early in life as their parents instill in them some of what they consider to be the most crucial principles.
Therefore, Thus, option (C) is correct.
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miranda is in school learning to be a welder. she spends long hours studying (and drinking coffee) and long hours practicing in the hot, dirty shop (and therefore takes frequent showers). miranda has $70.00 per month to spend on the soap and coffee she needs to function properly. in the accompanying graph, move the bc line to correctly depict miranda's budget constraint, assuming the soap costs $3.50 per bottle, and the coffee costs $14.00 per pound. if a point will not go where you want to put it, try placing the other endpoint there. then choose the best description of the lettered points according to whether they describe baskets of goods that are unaffordable, affordable and exhaust miranda's budget, or affordable with money left over.
Price of soap=3.5
Price of coffee=14
Income=70
Soap bought=0
Coffee bought=70/14=5
Coffee bought =0
Soap bought=70/3.5=20
coffee is a drink prepared from roasted coffee beans. Darkly colored, bitter, and slightly acidic, espresso has a stimulating impact on humans, in general, due to its caffeine content material. it is the most popular warm drink in the world. Seeds of the Coffea plant's culmination are separated to produce unroasted green coffee beans. The beans are roasted and then floor into exceptional particles that are typically steeped in warm water before being filtered out, producing a cup of espresso. it also includes served warm, although chilled or iced espresso is common.
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Alan is recording payroll that was processed outside of QuickBooks. Which QuickBooks function would be most useful? Payroll summary Pay bills Journal entries New invoice
Answer:
what are the answers
Explanation:
to the question
the is a form of organization that delivers goods and services at the lowest cost through specialization of jobs, close supervision of employees, and uniform regulations and procedures.
Bureaucracy is a form of organization that delivers goods and services at the lowest cost through specialization of jobs, close supervision of employees, and uniform regulations and procedures.
Both an administrative policy-making body and a group of non-elected government officials are referred to as bureaucracies. A bureaucracy, historically, was a form of government administration where departments were run by non-elected people. Today, bureaucracy is the administrative framework that governs all significant institutions, whether they are privately or publicly controlled. Bureaucracy is exemplified by the public administration in many jurisdictions and sub-jurisdictions, but it may also be seen in any institution with a centralized hierarchical structure, such as hospitals, academic institutions, commercial businesses, professional societies, social clubs, etc. Bureaucracy faces two main problems. Whether bureaucrats should be independent or directly answerable to their political overlords is the first conundrum.
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If a company uses the direct write-off method of accounting for bad debts,
a. It is applying the matching principle.
b. It will record bad debt expense only when an account is determined to be uncollectible.
c. It will reduce the accounts receivable account at the end of the accounting period for estimated uncollectible accounts.
d. It will report accounts receivable in the balance sheet at their net realizable value.
If a company uses the direct write-off method of accounting for bad debts It will record bad debt expense only when an account is determined to be uncollectible.
The obligation to pay money or other agreed value to a third party, a creditor, is called a debt. Debt differs from an immediate purchase in that payments are deferred or in installments. A sovereign state or country, city government, company or individual may be liable for the debt.
Contractual provisions governing the amount and timing of principal and interest payments typically apply to commercial debt. Debt includes mortgages, bonds, notes, and loans. In contrast to equity, debt is a form of financial transaction in financial accounting. The phrase can also be used figuratively to refer to tasks of a moral nature and other relationships that do not require the exchange of money.
Hence the correct option is C.
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the 25 in a 50/100/25 split limit policy refers to the maximum amount the policy will pay for:
The 25 in a 50/100/25 split limit policy refers to the maximum amount the policy will pay for: C. medical coverage for one person in the other car.
What is medical coverage?Medical coverage can be defined as a health insurance coverage that help to cover the medical cost or medical expense of those that enroll for the plan.
The 25 in a 50/100/25 split limit policy tend to means the highest amount the policy will pay for medical coverage for one person in the other car.
Therefore the correct option is C.
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The complete question is:
The 50 in a 50/100/25 split limit policy refers to the maximum amount the policy will pay in:
property damage.
medical coverage for those in your car.
medical coverage for everyone in the other car.
medical coverage for one person in the other car.
Roy leaves his pick-up truck at Sam's Auto service for an oil change. This is a: A. Bailment for the sole benefit of the bailor B. Bailment for the sole benefit of the bailee C. Mutual benefit bailment D. Not a bailment
Roy leaves his pick-up truck at Sam's Auto service for an oil change. This is a mutual benefit bailment.
A unilateral benefit bailment occurs when either the bailor or bailee benefits from the bailment while the other party does not. This situation may arise as a result of a gift or favor given by one party to the other.
A mutual-benefit bailment benefits both the bailor and the bailee. In general, a mutual benefit bailment is an enforceable contract because there is an exchange of value that drives the relationship.
The bailee has the right to possess the bailed item, to use it, to compensation, and may be entitled right to limited personal liability as well as indemnification even by bailor for potential liability arising from of the bailee carrying out her duties.
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