Economy, society would sacrifice 600 automobiles in order to make 900 couches, or (600 cars)/(900 sofas)=2/3 of a car for each sofa.
What exactly is the economy?
An economy is a geographical area in which goods and services are created, distributed, traded, and consumed. It is widely recognised as a social domain that focuses on the behaviours, discourses, and tangible manifestations associated with the generation, utilisation, and management of finite resources. A community's economy is a collection of interconnected production and consumption processes that ultimately determine how resources are divided. The demands of the people who live and work there are addressed by the overall production and consumption of goods and services. Economic issues have an impact on our daily life. This includes issues such as taxation and inflation, wealth and interest rates, inequality and growing markets, and energy and the environment.
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In the simulation, after a round is processed, the report that provides the results of all of the companies for the prior year, or industry newsletter, is called?
In the simulation, after processing a round, the report that brings the results of all companies from the previous year, or sector bulletin, is called Capstone Courier.
What is Capstone Courier?Corresponds to the sector bulletin, which contains important information about a business area, your company and competitors. This report helps you make strategic decisions by allowing you to analyze the market, the strengths and weaknesses of your company and competitors.
Therefore, through Capstone Courier, companies are able to have a more comprehensive strategic view of the macro-environment, helping in future decision making.
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schrand aerobics, inc., rents studio space (including a sound system) and specializes in offering aerobics classes. on january 1, 2019, its beginning account balances are as follows: cash, $5,000; accounts receivable, $5,200; equipment, $0; notes payable, $2,500; accounts payable, $1,000; common stock, $5,500; retained earnings, $1,200; services revenue, $0; rent expense, $0; advertising expense, $0; wages expense, $0; utilities expense, $0; interest expense, $0.
Schrand Aerobics, Inc.
a. Journal Entries:
Debit Accounts Payable $600
Credit Cash $600
To record the payment of cash.
Debit Rent $3,600
Credit Cash $3,600
To record the payment of cash.
Debit Accounts Receivable $11,500
Credit Service Revenue $11,500
Record the billing of clients.
Debit Advertising $500
Credit Accounts Payable $500
To record advertising promotion
Debit Cash $10,000
Credit Accounts receivable $10,000
To record the receipt of cash.
Debit Wages $2,400
Credit Cash $2,400
To record the payment of cash
Debit Utilities $680
Credit Accounts Payable $680
To record utility expenses.
Debit Interest $20
Credit Cash $20
Record the payment of interest on notes payable.
Debit Retained Earnings $900
Credit Cash $900
To record the payment of dividends.
Debit Equipment $4,000
Credit Cash $4,000
To record the payment for the purchase of sound equipment.
b. T-Accounts:
Cash
Description Debit Credit Balance
Balance $5,000
Accounts payable $600 4,400
Rent 3,600 800
Accounts receivable 10,000 10,800
Wages 2,400 8,400
Interest 20 8,380
Dividend 900 7,480
Equipment 4,000 3,480
Accounts Receivable
Description Debit Credit Balance
Balance $5,200
Service Revenue 11,500 16,700
Cash 10,000 6,700
Equipment
Description Debit Credit Balance
Cash $4,000 $4,000
Notes Payable
Description Debit Credit Balance
Balance $2,500
Accounts Payable
Description Debit Credit Balance
Balance $1,000
Cash $600 400
Advertising $500 900
Utilities 680 1,580
Common Stock
Description Debit Credit Balance
Balance $5,500
Retained Earnings
Description Debit Credit Balance
Balance $1,200
Dividends $900 300
Services Revenue
Description Debit Credit Balance
Accounts receivable $11,500 $11,500
Rent Expense
Description Debit Credit Balance
Cash $3,600 $3,600
Advertising Expense
Description Debit Credit Balance
Accounts payable $500 $500
Wages Expense
Description Debit Credit Balance
Cash $2,400 $2,400
Utility Expense
Description Debit Credit Balance
Utilities payable $680 $680
Interest Expense
Description Debit Credit Balance
Cash $20 $20
Journal entries record the transactions initially with debit and credit to the accounts affected.
The T-accounts are the general ledger accounts where transactions are summarized and a balance for each account is obtained.
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If a university passed a rule stating that university students must live in university dormitories, what effect would this have on the price elasticity of demand for dorm space? how might this rule affect room rates?.
If a university passed a rule stating that university students must live in university dormitories then the price elasticity of demand would be more inelastic and room rates would increase.
If students are to be made mandatory to live in college dormitories then the price rates of the rooms would increase and there would be a huge inelasticity in the prices. As everyone would have to stay in the dorms they would be overcrowded than usual because usually dorms are for the people that have come from any other foreign city or country.
This will also lead to overpopulated living areas that would definitely make the students uncomfortable and hard to study.
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british government 4% perpetuities once paid £4 interest each year forever. another bond, 2.5% perpetuities, paid £2.50 a year forever.
4% perpetuity paying £4 means Face value = £100
value of perpetuity = Cash flow/rate
Value at 6%= 4/0.06=£66.67
b) Value of 2.50 at 6%
=2.5/0.06=£41.67
What is perpetuity?
In the financial system, perpetuity refers to a circumstance in which a stream of cash flow payments lasts forever or is an unending annuity. Perpetuities are employed in valuation studies to determine a company's terminal value and the present value of its predicted future cash flow stream. A perpetuity is essentially a chain of cash flows that never stop.
Perpetuity's Finite Present Value
A perpetuity has an unlimited total value, but it has a finite current value. The discounted annuity value of each annuity is added up and decreased by each period until it approaches zero to get the present value of an endless stream of cash flows.
If a corporation keeps performing at the same rate, an analyst may calculate its precise worth using the finite present value of perpetuity.
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in the process of market segmentation, which of the following is the step that comes after grouping customers with similar need sets?
Answer:
D
Explanation:
Most products in developed economies fulfill more than one need.
When the probabilities of alternative outcomes cannot be determined and future outcomes are unknown, there exists?
When the probabilities of alternative outcomes cannot be determined and future outcomes are unknown, there exists : uncertainty.
What do you mean by alternative outcome?Alternative outcomes are alternative or additional ways of going about something. This could include different routes you might take to achieve your goal, different possible solutions to a problem, or other courses of action.
When it comes to success, having multiple options is always advantageous because it gives you more flexibility in how you go about achieving your goals. It can also help prevent any setbacks that may occur along the way and give you more flexibility when making decisions.
By using alternative outcomes as part of your decision-making process, you will be better equipped to find the best course of action for yourself and your team.
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corporation began the year with cash of $142,000 and land that cost $25,000. during the year thompson earned service revenue of $270,000 and had the following expenses: salaries, $175,000; rent, $81,000; and utilities, $28,000. at year-end thompson's cash balance was down to $16,000. how much net income (or net loss) did thompson experience for the year?
The net loss is $14000 Thompson had experienced at the the end of year .The total net income is $1,53,000.
How much is net income?The income of a person or business after deducting costs, allowances, and taxes is referred to as net financial gain.
Net in business is what remains after deducting all costs, including salary and wages, the cost of goods and raw materials, and taxes. Profits for persons are the takings after deducting taxes, insurance, and pension contributions. Profits should ideally be higher than prices to indicate a healthy financial situation.
To calculate net income, start with gross income, which is the whole amount of money produced. Then, subtract charges like taxes and interest payments.
The amount that an individual really receives from their paycheck each month—as opposed to the gross amount they are paid before payroll deductions—is known as their net income. Other kinds of income, such as Social Security benefits, side jobs, or investment income, may boost your net income.
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a hedge fund purchased credit default swaps on securities it did not own because it believed that the securities were likely to default. in this example, the hedge fund is .
A hedge fund purchased credit score default swaps on securities it did no longer own as it believed that the securities have been probably to default. in this situation, the hedge fund is Speculating.
Securities are fungible and tradable financial instruments used to elevate capital in public and personal markets. There are mainly three sorts of securities: fairness—which provides ownership rights to holders; debt—essentially loans repaid with periodic payments; and hybrids—which integrate factors of debt and equity.
Security is a tradable financial asset. The term normally refers to any shape of the economic tool, however, its criminal definition varies by means of jurisdiction. shares, bonds, desired shares, and ETFs are some of the most not unusual examples of marketable securities. cash market instruments, futures, options, and hedge fund investments can also be marketable securities. stocks, bonds, desired stocks, and ETFs are many of the maximum commonplace examples of marketable securities. cash marketplace devices, futures, options, and hedge fund investments can also be marketable securities.
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an employee who contacts the sec to report her company's use of illegal accounting procedures is an example of
An employee who contacts the SEC to report her company's use of illegal accounting procedures is an example of whistle-blower. Anyone, including outside contractors, who is able to gather reliable information about significant tax fraud may submit an IRS whistleblower claim.
WHY DO PEOPLE WHISTLEBLOW?When an employee reports a protected concern to their employer or the appropriate regulator about something they have learned about via their employment, this is known as whistleblowing.
The employee must have a real belief that the employer, coworkers, clients, or other parties are engaging in illegal or dangerous behavior that impacts others—such as the public—and must share the information in good faith for it to qualify as a protected disclosure. Examples include breaking the law or committing crimes, putting one's health and safety at danger, causing environmental harm, and unfair trials.
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They help to provide goods and services to the people. one advantage of government involvement in the economy is to try to keep things fair and unemployment low.
Governments maintain competition, offer public products and services, allocate income, account for externalities, and fix the economy in addition to providing the legal and social framework.
What goods and services does the government provide and how?The benefits of a command economy include low levels of income inequality and unemployment as well as the shared goal of displacing profit with equality as the main driving force behind production. Lack of competition, which can result in a lack of innovation, and inefficiency are disadvantages of command economies.
Almost everywhere, the government has a significant impact on the provision of services including environmental and fire prevention, transportation, education, and national defense. They are commonly referred to as "public utilities."
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eileen spends $8 to order a mojito cocktail. eileen earns $625 per week working for rowan and martin associates. clancy earns $325 per week working for little havana.
GDP is the money value of all final goods and services produced during a given period. Thus, the statement is true
Statement 1 Eileen spends $8 to order a mojito cocktail - Market for goods and services
Statement 2 Eileen earns $625 per week working for rowan and martin associates - Market for factors of production
Statement 3 clancy earns $325 per week working for little Havana - Market for goods and services
Gross home product is a monetary measure of the market value of all the final items and services produced in a particular term by way of nations. because of its complicated and subjective nature, this degree is often revised before being taken into consideration as a dependable
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Do-yun has just joined a law firm as its purchasing agent for all supplies, equipment, and service contracts. In his previous position at another company, do-yun could make decisions for any purchase up to $1 million; however, at the new law firm, he can only make decisions for purchases less than $500,000. Recently, do-yun has been working with a sales representative from a computer software firm on a contract for a new program to process the firm’s billing statements. Do-yun signs the contract, even though it is for $950,000. In this case, do-yun _______ part of the market for the software because _______.
The fill in the blanks is : is not and Do-yun does not have the authority to purchases
Service contracts are agreements between a consumer or client and the person or company providing the services. For instance, a working relationship between a contractor and a homeowner could be described in a service contract. Or, a formal agreement could be formed through a contract between a company and a high-ranking employee regarding that employee's pay and working conditions (i.e., the rules under which they are employed): The corporation has reduced service agreements for its executive directors to one year's notice. Service agreements ensure that your equipment is kept in good condition, minimizing future breakdowns and reducing the chance of rushing to schedule an emergency restoration after a power outage.
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in may, pasta disasta, inc. paid its suppliers $500 that it owed for the pizza pans purchased and received in april. which accounts are affected? (check all that apply.)
In a situation where pasta disasta, inc. paid its suppliers $500 in the month of May that it owed for the pizza pans purchased and received in April, Cash in hand and bills payable accounts are affected. Therefore, the options B and C hold true.
What is the significance of affected accounts?The affected accounts can be referred to or considered as the accounts that have a debit or a credit effect upon the occurrence of a financial transaction in a business organization during an accounting period.
When payments for good bought on credit are made, it reduces the liabilities of the firm under bills payable heads, and also leads to a decrease in the assets under cash balances.
Therefore, the options B and C hold true and state regarding the significance of affected accounts.
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The missing options to the incomplete question have been added below.
in may, pasta disasta, inc. paid its suppliers $500 that it owed for the pizza pans purchased and received in april. which accounts are affected? (check all that apply.)
A. Stockholder's equity
B. Bills payable
C. Cash in hand
If preliminary net income is defined as revenues - expenses based on the unadjusted trial balance, what is nicole's spa preliminary net income?
If preliminary net income is defined as revenues - charges based totally on the unadjusted trial stability, Nicole's spa initial internet profits: once the entirety is adjusted, you subtract charges, such as taxes, out of your gross profits to derive your internet earnings.
In business and accounting, net income is an entity's income minus the value of goods bought, prices, depreciation and amortization, hobby, and taxes for an accounting length. internet income refers to the quantity a person or commercial enterprise makes after deducting expenses, allowances and taxes. In commerce, internet income is what the enterprise has left over in spite of everything costs, along with salary and wages, cost of products or raw material and taxes.
To calculate net income, subtract your business charges from your total sales. This gives you a photo of your enterprise's profitability — this is, how lots you're incomes after paying to operate your commercial enterprise. net income is from time to time called net income, internet income, or “the lowest line.”
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What arguments can you give for supporting socialist organization of a family and a market-based organization of the economy?
In a socialist organization family, the governing body decides on economic operations while taking the requirements of the populace into account.
Market-based organizations are structures where economic activity is determined by market forces.
In a socialist organization, the family head determines who gets what, and needs are distributed based on their preferences. In light of the socialist organization family's focus on the welfare of its members, I would support it.
In a Market based organization, the market forces are taken into account by the board of directors when making decisions. Self-interest is the main issue here because many economists think that pursuing one's own interests might advance the national interest. The company, which is market-based, deals with own problems without considering others.
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an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is called a(n)
An agreement a manufacturer forms with a reseller to exclusively deal with its products and not those of rivals is referred to as exclusive dealing.
Exclusive dealing. When a supplier binds the buyer by restricting their ability to choose what, who, and where they do business, this is known as exclusive dealing in economics and law. When it significantly reduces industry competition, it is illegal in the majority of nations, including the USA, Australia, and Europe.
Exclusive dealing is permitted when the sales outlets are owned by the supplier owing to vertical integration, but is prohibited (in the US) when they are independent due to the Restrictive Trade Practices Act. If it is registered and approved, however, exclusive dealing is permitted.
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the major forces in consumerism are individual consumer advocates and organizations, consumer education programs, and
The primary or major forces in consumerism are individual consumer advocates and organizations, consumer education programs, and consumer laws related thereto. Therefore, the option B holds true.
What is the significance of consumerism?Consumerism can be referred to or considered as a phenomenon wherein a person is bound to work towards the protection of the interests of consumers in an economy. The protection of consumer interests is provided under the consumer laws and regulations.
Therefore, option B holds true and states regarding the significance of consumerism.
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The missing options to the question have been added below for better reference.
A. consumer interests
B. Consumer laws
C. forces of demand and supply
D. All of these
Segmenting dimensions that help marketing managers decide whether to include a customer type in a product-market are called ______ dimensions.
Segmenting dimensions that help marketing managers decide whether to include a customer type in a product market are called qualifying dimensions.
what is the qualifying dimension?qualifying dimension is the dimensions that are relevant to counting a client sort in a product market. Determining dimensions are the measurements that affect the customer's purchase of a particular item or brand in a product market, e.g. cost. more Sophisticated Segmentation Methods.
Qualifying dimensions are those core features decided to be essential for all segments of a market. Determining measurements are those features particular to each market portion. Assume a company needs to offer an unused natural cotton t-shirt to buyers. The core highlights or qualifying dimensions for all fragments will incorporate the use of natural cotton fabric within the fabricating preparation, comfort, and durability.
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When data are collected the observations (values) are usually said to be in ________
When data are collected the observations (values) are usually said to be in quantitative observations.
What is quantitative observations?An objective data analysis technique known as a quantitative observation combines numerical and statistical characteristics to gauge study factors. This method of observation treats research variables as numbers, hence it is frequently associated with quantifiable quantities like age, weight, volume, and scale.
Things like temperature hot or cold, flavour sweet or salty, texture smooth or rough, and even mood can be included in qualitative assessments angry or happy.
Thus, it is quantitative observations.
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demand is said to be when the quantity demanded changes at the same proportion as the price.
Demand is said to be when the quantity demanded changes at the same proportion as the price is unitary elasticity.
Demand is an economic concept that pertains to a customer's choice to purchase goods and offerings and willingness to pay a specific charge for them. An growth inside the charge of an awesome or provider has a tendency to decrease the quantity demanded.
Supply and demand determine the fee of products and portions Produced and consumed. Customers might also exhaust the to be had deliver of a good by buying a given appropriate or carrier at a excessive extent. This ends in an growth in call for. As demand will increase, the available deliver additionally decreases.
Demand for a services or products offers the firm the possibility to develop the commercial enterprise, hiring extra employees and growing capability to healthy the call for. However, oversupply and occasional demand forces businesses to contract, laying off team of workers and last factories.
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the shape of argentina's production possibilities frontier (ppf) should reflect the fact that as argentina produces more cars and fewer trucks, the opportunity cost of producing each additional car
Remember that the same set of resources can be used to make both tablets and smartphones. This means that if Argentina decides to create more smartphones and fewer tablets, the resources utilized to make the additional smartphones will be just as well suited to smartphone production as the resources presently employed in smartphone production. When a result, as more smartphones are created, the opportunity cost of generating each additional smartphone remains constant.
The opportunity cost of making cellphones is reflected in the curvature of bowed-out PPFs. Producing one additional tablet entails giving up fewer smartphones in flatter places. In hilly places, however, generating an additional tablet necessitates giving up more smartphones. In other words, as you move along the PPF, the opportunity cost of creating tablets changes.The opportunity cost of making tablets is constant in linear PPFs and is reflected in the slope of the PPF. If the PPF is flatter, creating an additional tablet necessitates the sacrifice of fewer cellphones. If the PPF is higher, creating an additional tablet necessitates the sacrifice of more cellphones.Because the opportunity cost of making additional tablets remains constant when more resources are allocated to tablet manufacture, the PPF must be linear in this scenario. As a result, Graph 1 best reflects Argentina's trade-off between generating tablets and smartphones.Thus, this is the meaning of Argentina's Production Possibilities frontier (PPF).
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session 02 featured cedric bandoh, who is a rising executive in supply chain management at hewlett packard. cedric described the reason(s) that hp recruits heavily from our bauer supply chain management majors as:
Many leaders at HP hold degrees from Bauer, including the VP of Procurement ("Buy" Function). Furthermore, our SCM majors gain the breadth and depth of knowledge within their classes that have shown to enable our alumni to be successful in their employment over time.
A supply chain is the network that links all of the individuals, companies, assets, actions, and tech involved in the production and sale of a product. Everything from the movement of raw materials from a supplier to a production to the ultimate distribution to the end customer is included in a supply chain.The process of organizing the multiple processes required to produce and deliver goods and services to a firm's clients is known as supply chain management. Supply chain activity includes design, farming, manufacturing, packing, and transportation.Thus this is the meaning of supply chain.
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When short-term rates are higher than long-term rates, we say it is __________________.
We refer to a situation as downward sloping when short-term rates are higher than long-term rates.
Bonds with a ten-year maturity date are referred to as having long-term interest rates. The cost a lender must pay, the danger a borrower poses, and the reduction in capital value all have a significant impact on rates. Most of the time, long-term interest rates are composed of the average daily rates given as a percentage.
The cost that lenders charge for delaying consumption, the possibility that the borrower won't be able to return the capital, and the expected decline in the capital's real worth due to inflation throughout the course of the loan are the three key elements that affect long-term interest rates.
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The consumption category includes all purchases by ________ with the exception of ________.
'The consumption category includes all purchases by with the exception of new houses.
Consumption is the act of using resources to meet current needs and desires. This is in contrast to investments, which represent expenditures to generate future income. Consumption is an important concept in economics and is also studied in many other social sciences.
To consume means to use, buy or eat something. If you don't reduce your energy use, you'll run out of fuel. Conspicuous consumption means buying something to show off. Consume is related to verb consumption. This means eating, consuming or buying.
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jan has been a model tenant, living in her apartment for almost five years when she lands her dream job in london. because joseph, her landlord, is so fond of her, he’s accepted her six weeks’ notice. it’s the prime time of year for apartment rentals, so he releases her from her lease six months before it expires. the lease was terminated by .
The lease was terminated by Mutual agreement
A form of agreement known as a mutual agreement has reciprocal or bilateral legal duties. In other words, a mutual agreement is advantageous to all parties involved.A contract is an agreement between two or more private parties that creates legal duties for both parties. The fundamental components necessary for the agreement to constitute a binding contract are: capacity; legality; sufficient consideration; appropriate consideration indicated by a legitimate offer and acceptance; and mutual assent.
What does a legal "mutual agreement" mean?This definition includes all legally enforceable contracts that the parties have signed and mutually agreed upon all terms and provisions as mutual agreements. The common understanding serves as the foundation for the contract's implementation since both parties are certain that they are engaging in a legitimate transaction.To learn more about mutual agreement, Click the links
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For the fall semester, you had to pay a nonrefundable fee of $900 for your meal plan, which gives you up to 150 meals. if you eat 100 meals, your marginal cost of the 100th meal is?
If you eat 100 meals, your marginal cost of the 100th meal is $9.
Given,
Nonrefundable fee = $900
The number of meals that can be eaten with the meal plan = 150
The number of meals ate = 100
The marginal cost of the 100th meal is calculated below:
Marginal cost of a meal = Total amount paid for the semester meal plan / Total number of meals taken.
= $900/100
= $9
Hence, the marginal cost of the 100th meal is $9.
Marginal cost is referred to as the increase or decrease in the cost of producing one more unit or serving one more customer from the unit.
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What is the total contribution margin provided by calendars products for the current year?
The total contribution margin provided by calendars products for the current year is 55%.
You can present the contribution margin as a gross or per-unit figure. After deducting the variable element of the company's costs, it indicates the additional revenue made for each product or unit sold.
By subtracting the variable cost per unit from the selling price per unit, the contribution margin is calculated. The measure, which is often referred to as dollar contribution per unit, shows how much a specific product contributes to the company's overall profit.
It offers a means of illustrating the profit potential of a specific good or service a business offers, as well as the percentage of revenue that goes toward paying the business' fixed expenses. Profit is defined as whatever revenue remains after covering fixed costs.
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Assume that maxine decides that she needs a wardrobe update. what would you feel is an appropriate amount of business clothing for maxine to own in order to succeed at her job?
Your after-tax income is the quantity you acquire after taxes are taken from your paycheck, inclusive of which includes national tax, local tax, and Medicare and Social Security tax. if you're a worker with a steady paycheck your after-tax earnings are simple to determine. If fitness care retirement contributions or other deductions are taken out of your paycheck, truly upload them again if you're self-hired, your after-tax income equals your gross income, minus your business expenses such
Because the value of your computer or airfare to meetings, minus the amount you put apart for taxes really is the million-greenback query. Any payment that you may forgo with the best minor inconvenience, like your cable invoice or your back-to-school apparel, is a need. Any charge that would critically affect your great of life, together with energy and prescription drugs, is a want.
Close relationships, more than cash or repute, are what preserve humans glad during their lives, the examine found out. the one's ties shield people from existence's discontents, help to postpone mental and physical decline, and are higher predictors of long and happy lives than social class, IQ, or maybe genes.
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If you're asking yourself whether you want to make it easy for the ownership of your new business to change hands, which of the key questions about legal form of ownership are you posing?
If you're asking yourself whether you want to make it easy for the ownership of your new business to change hands, the key questions about the legal layout of ownership are you posing
b. Should it be feasible for the business to continue without you?
What are the 4 types of ownership?Though you may have listened about several additional types of ownership when exploring the business options, there are only four direct types that you'll likely have to think about: the sole proprietorships, partnerships, limited liability firms, and the enterprises.
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type of value that recognizes the cost to replace the improvements but does not include the land value is the
Insurance Value is a type of value that recognizes the cost to replace the improvements but does not include the land value.
Insurance Value: It is the sum roughly equivalent to the insured property's real replacement cost. Making sure that an insurance policy effectively protects and covers the value of a property (in this case, a building) in the event of a partial or entire loss is a key principle used in Insurance Value.
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