The disadvantage of a sole proprietorship where the business ceases to exist upon the death, incapacity, or retirement of the owner is called "limited life span."
Limited life span is a characteristic of a business structure that limits its duration. It refers to the time frame during which a business can exist and operate. In the case of a sole proprietorship, the business's life span is tied to the owner's life span or ability to operate the business. Therefore, if the owner dies, becomes incapacitated, or retires, the business ceases to exist. This can be a significant disadvantage of a sole proprietorship because it can impact the continuity of the business and the ability to pass it on to heirs or sell it to someone else.
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instructions or directives moving downward from superiors to subordinates usually require high levels of persuasion.
true or false
The correct answer for the statement is ''instructions or directives moving downward from superiors to subordinates usually require high levels of persuasion. '' is False.
Instructions or directives moving downward from superiors to subordinates typically do not require high levels of persuasion as they are typically given as part of a chain of command or hierarchical structure.
Subordinates are expected to follow the orders of their superiors without question, and persuasion is not typically necessary in these situations.
However, persuasion may be necessary in situations where subordinates are resistant or hesitant to follow instructions or directives due to factors such as personal beliefs or values, lack of understanding or knowledge, or concerns about the feasibility or effectiveness of the instructions or directives.
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when a final product is not moveable or transportable such as an office building or bridge, a(n)__________ layout must be used.
When a final product is not moveable or transportable such as an office building or bridge, a fixed-position layout must be used. This type of layout involves bringing all the necessary resources, equipment, and materials to the site where the product will be constructed.
The production process takes place on site and often involves a large number of workers and specialized equipment. The fixed-position layout is used in construction projects such as buildings, bridges, and highways, as well as for the production of large-scale items such as aircraft and ships. This layout can be challenging to manage due to the complexity of coordinating resources and workers, but it is essential for producing non-moveable products efficiently.
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Top management usually performs all of the following tasks EXCEPT:
A. establish long-range plans
B. review new product development
C. develop strategic plans
D. direct workers on the assembly line
E. formulate basic policies of operation
Top management usually performs all of the following tasks except direct workers on the assembly line content loaded.
Top management is responsible for establishing an organization's overall goals and strategies, developing plans and policies to achieve those goals, and ensuring that the organization's resources are used effectively and efficiently. They typically focus on high-level decision-making and have a broad view of the organization's operations, including reviewing new product development, formulating basic policies of operation, and developing strategic plans. However, direct supervision and management of workers on the assembly line is generally the responsibility of lower-level management, such as production or operations managers.
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an oligopolist will continue to increase output up to the quantity at which the quantity effect of an additional unit on profits is exactly equal to the ________ price effect.
An oligopolist will continue to increase output up to the quantity at which the quantity effect of an additional unit on profits is exactly equal to the marginal price effect.
The marginal price effect refers to the increase in production costs generated by the production of additional product units. It is also known as the marginal cost of production. Calculating the marginal cost allows companies to see how volume output influences cost and hence, ultimately, profits.
The long-run marginal cost of production is the increased cost incurred during production when every input is variable. It is the additional cost that results when a company scales up its operations by adding more employees, expanding a factory, or venturing into a new market.
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Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 60 percent of their fees in the month the service is provided. In the month following service, Paul collects 35 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase.
The following information is available for the months of June, July, and August, which are Paul’s busiest months:
• June 1 cash balance $17,200.
• June 1 supplies on hand $4,800.
• June 1 accounts receivable $9,900.
• June 1 accounts payable $4,700.
• Estimated sales for June, July, and August are $29,700, $44,600, and $47,900, respectively.
• Sales during May were $28,100, and sales during April were $19,900.
• Estimated purchases for June, July, and August are $10,800, $20,800, and $15,000, respectively.
• Purchases in May were $5,900.
Required :
1. Compute budgeted cash receipts and budgeted cash payments for each month
2. Compute the balances necessary to prepare a budgeted sheet for august 31 for each of the following accounts :
Budgeted cash receipts: June: $20,770,July: $37,930, August: $43,120
Balances necessary for a budgeted sheet on August 31:
Cash: $35,260 Supplies on Hand: $4,670 Accounts Receivable: $17,870
Accounts Payable: $8,820
Budgeted Cash Receipts and Payments:
a. June:
Budgeted Cash Receipts:
60% of June Sales = 60% * $29,700 = $17,820
35% of May Sales = 35% * $28,100 = $9,835
5% of April Sales = 5% * $19,900 = $995
Total Budgeted Cash Receipts = $17,820 + $9,835 + $995 = $28,650
Budgeted Cash Payments:
Purchases for May = $5,900 (50% payment)
Supplies used in May = 85% * $4,800 = $4,080
Rent, Utilities, Wages and other expenses = $8,200
Total Budgeted Cash Payments = $5,900 + $4,080 + $8,200 = $18,180
Ending Cash Balance = June 1 Cash Balance + (Total Budgeted Cash Receipts - Total Budgeted Cash Payments)
= $17,200 + ($28,650 - $18,180) = $27,670
b. July:
Budgeted Cash Receipts:
60% of July Sales = 60% * $44,600 = $26,760
35% of June Sales = 35% * $29,700 = $10,395
5% of May Sales = 5% * $28,100 = $1,405
Total Budgeted Cash Receipts = $26,760 + $10,395 + $1,405 = $38,560
Budgeted Cash Payments:
Purchases for May = $5,900 (50% payment)
Purchases for June = $10,800 (50% payment)
Supplies used in June = 85% * $4,800 = $4,080
Rent, Utilities, Wages and other expenses = $8,200
Total Budgeted Cash Payments = $5,900 + $5,400 + $4,080 + $8,200 = $23,580
Ending Cash Balance = June 1 Cash Balance + (Total Budgeted Cash Receipts - Total Budgeted Cash Payments)
= $27,670 + ($38,560 - $23,580) = $42,650
c. August:
Budgeted Cash Receipts:
60% of August Sales = 60% * $47,900 = $28,740
35% of July Sales = 35% * $44,600 = $15,610
5% of June Sales = 5% * $29,700 = $1,485
Total Budgeted Cash Receipts = $28,740 + $15,610 + $1,485 = $45,835
Budgeted Cash Payments:
Purchases for May = $5,900 (50% payment)
Purchases for June = $10,800 (50% payment)
Purchases for July = $20,800 (50% payment)
Supplies used in July = 15% * $4,800 = $720
Rent, Utilities, Wages and other expenses = $8,200
Total Budgeted Cash Payments = $5,900 + $5,400 + $10,400 + $720 + $8,200 = $30,620 Ending Cash Balance
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your company is considering the purchase of a new machine. the original cost of the old machine was $25,000; it is now five years old, and it has a current market value of $10,000. the old machine is being depreciated over a 10-year life toward a zero estimated salvage value on a straight-line basis, resulting in a current book value of $12,500 and an annual depreciation expense of $2,500. the old machine can be used for six more years but has no market value after its depreciable life is over. management is contemplating the purchase of a new machine whose cost is $20,000 and whose estimated salvage value is zero. expected before-tax cash savings from the new machine are $3,500 a year over its full macrs depreciable life. depreciation is computed using macrs over a five-year life, and the cost of capital is 13 percent. assume a 21 percent tax rate. what will the year 1 operating cash flow for this project be? multiple choice $3,080 $984 $1,200 $5,000
The year 1 operating cash flow for this project will be $5,000 (D). This is because the expected before-tax cash savings from the new machine are $3,500 a year and the tax rate is 21%.
We know that annual before-tax cash savings is $3,500. Meanwile, the depreciation expense for the new machine in year 1 using MACRS 5-year life (depreciation rate of 20%) is:
= $20,000 x 20%
= $4,000
Tax savings from depreciation is:
= $4,000 x 21%
= $840
After-tax cash savings is:
= $3,500 x (1 - 21%)
= $2,765
Total operating cash flow in year 1 is:
= After-tax cash savings + Tax savings from depreciation
= $2,765 + $840
= $5,000
Therefore, The year 1 operating cash flow for this project will be $5,000. Option D holds true.
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What criteria should Nena use in evaluating the alternatives?
Nena needs to apply the SWOT analysis as her criterion. It makes it easier to comprehend the organization's advantages and disadvantages. It promotes the growth of strategic reasoning.
Using a SWOT analysis tool, you may identify the current strengths and weaknesses of your business and create a winning long-term plan.
SWOT analysis is a technique for identifying and analyzing internal strengths and weaknesses as well as external opportunities and threats that have an impact on present and future operations and aid in the formulation of strategic goals.
Not just for businesses, SWOT evaluations are used. SWOT analysis is a tool that people may use to set personal improvement objectives and participate in productive introspection.
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Complete question is,
What criteria should Nena use in evaluating the alternatives?
1. SWOT analysis
2. Ease of implementation.
3. Cost.
4. Ability to meet customer requirements.
The stockholder of record is the person to whom the dividend check is made payable and mailed to on the (declaration/record/payment/ex-dividends) date
The correct term is record date.
The record date is the date set by a company's board of directors as the official date for determining which shareholders are entitled to receive dividends or other distributions.
On this date, the company will look at its records to determine who the shareholders of record are.
The stockholders of record are the shareholders who hold shares on the record date, and they will receive the dividend check or other distribution.
The declaration date is the date on which the company's board of directors announces its intention to pay a dividend, and the amount of the dividend is usually specified on this date.
The payment date is the date on which the actual dividend checks are mailed out or credited to shareholders' accounts.
The ex-dividend date is the date on which the stock begins trading without the right to receive the upcoming dividend. If an investor purchases a stock on or after the ex-dividend date, they will not receive the dividend.
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which of the following needs to be shown when considering a change in accounting principles? select answer from the options below the prospective effect of the change on liabilities the retroactive effect of the change on net income the cumulative effect of the change on retained earnings of the earliest year reported the current effect of the decrease in assets
When considering a change in accounting principles, the cumulative effect of the change on retained earnings of the earliest year reported needs to be shown.
Understanding accounting principlesA change in accounting principle requires retrospective application, meaning that the financial statements of prior periods need to be restated to reflect the new accounting principle.
The cumulative effect of this restatement on retained earnings of the earliest year reported needs to be disclosed.
The prospective effect of the change on liabilities and the current effect of the decrease in assets may also need to be disclosed, but the retroactive effect of the change on net income is already captured in the restated financial statements.
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The abolishment of slavery was not the only threat to slave owners. We will consider two other challenges slave owners faced in this question. •• Explain why current US slave owners wanted a ban on the import of new slaves from Africa. Be sure to include a figure showing the market for US slaves and how new slaves from Africa affect the market. (4 pts) •• A less obvious threat to slave owners came from low-skilled agricultural immigrants to the US. Draw the US market for low-skilled agricultural workers and show how a wave of immigrants affects the market. (4 pts) •• Draw the US market for slaves. Assuming low-skilled agricultural workers are a substitute for slaves, show how your answer in the previous part impacts the US market for slaves. (4 pts) •• Do you agree with Wright that the significance of slavery in the US would have declined even without the Civil War? Use evidence from the course material to support your argument. (4 pts)
It had negative effects on the market for US slaves. A wave of low-skilled agricultural immigrants entered the US market, the supply of agricultural workers increased If low-skilled agricultural workers were a substitute for slaves, the increase in the supply of agricultural workers would have decreased
1. The US slave trade was a profitable business for many slave traders, but it had negative effects on the market for US slaves. When new slaves were imported from Africa, the supply of slaves in the US market increased, which caused the price of slaves to decrease. This meant that current US slave owners, who had invested heavily in their slaves, would experience a decrease in the value of their assets. A ban on the import of new slaves would have limited the supply of slaves and kept their value higher.
2. When a wave of low-skilled agricultural immigrants entered the US market, the supply of agricultural workers increased, which caused the price of labor to decrease. This meant that US farmers could hire workers for lower wages, which lowered their costs and increased their profits.
3. If low-skilled agricultural workers were a substitute for slaves, the increase in the supply of agricultural workers would have decreased the demand for slaves. This would have caused the price of slaves to decrease, making them a less attractive option for farmers.
4. It is difficult to say whether the significance of slavery in the US would have declined without the Civil War. However, there were several factors that suggest this could have been the case. The industrialization of the North, the growth of wage labor, and the decline of agriculture as the dominant sector of the economy all made slavery less profitable and less necessary. Additionally, there was growing opposition to slavery among Northern abolitionists and many Southerners also believed that slavery was on the decline. However, it is important to note that the Civil War was the catalyst for the ultimate abolition of slavery in the US.
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1. () What is the current stock market valuation (i. E. , market capitalization) of Creative Computers and of Ubid based on the stock prices as of December 9, 1998? (ii) Evaluate these valuations with respect to the assets associated with these firms. Do the valuations of each seem reasonable? Explain your answer. If necessary, also explain quantitatively
The market capitalization of a company is calculated by multiplying its current stock price by the number of shares outstanding. This reflects the total value of the company as perceived by investors in the stock market.
The assets associated with a company, such as its physical assets, intellectual property, or cash reserves, can influence its stock price and market capitalization. Other factors that may also impact the valuation of a company include its earnings, revenue growth, market share, competition, and overall economic conditions.
Whether or not the market valuations of Creative Computers and Ubid based on their stock prices as of December 9, 1998, were reasonable would depend on a variety of factors beyond their assets, including investor sentiment, market trends, and other market and economic conditions at the time.
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93.7% complete question the system administrator is installing a web server certificate and receives an error indicating the server does not accept wildcard certificates. after examining the certificate, the system admin notices the problem. determine the specific location where the admin found the problem.
Based on the information given, it appears that the issue is related to the use of wildcard certificates. Wildcard certificates are SSL/TLS certificates that use a single certificate to secure multiple subdomains.
These certificates are identified by the use of an asterisk (*) before the domain name, which indicates that the certificate is valid for all subdomains of the specified domain.
However, not all web servers support wildcard certificates, and this may cause issues when installing the certificate. Based on this, it is likely that the system administrator found the problem in the certificate itself, specifically in the use of a wildcard certificate.
They may have discovered this when attempting to install the certificate and receiving an error indicating that the server does not accept wildcard certificates.
To resolve the issue, the administrator may need to obtain a non-wildcard certificate or configure the server to support wildcard certificates.
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blossom company issues $4.3 million, 10-year, 7% bonds at 96, with interest payable on december 31. the straight-line method is used to amortize bond discount.Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2017, assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Blossom company issues $4.3 million, 10-year, 7% bonds at 96, with interest payable on December 31. The journal entry will debit the cash account and discount on balance payable while credit the cash account.
The journal entry on 1st January will be:
Cash A/c Dr. 42,57,000
Disc on bonds payable Dr. 43,000
To BP 4,300,000
The journal entry on Dec 31 will be:
Interest expense Dr. 305,300
To Discount on bonds payable 4,300
To Cash $301,000
Discount on bond payable = $4,300,000 - ($4,300,000 × 99/100)/10
= $4,3000
Cash = (4,30,000 × 7) / 100
= $301,000
Interest expense = discount on bonds payable + cash
= 4,300 + 301,000
= 305,300
A discount on bonds payable is noted when bonds are issued at a price lower than their face value. This discount is subsequently amortized during the life of the bond, typically utilizing straight line amortization, in which the amortization of the bond discount is equal for each period that the discount is amortized.
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Sheridan Snowboarding Company, a public company, purchased equipment on January 10, 2017, for $660,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Sheridan uses the straight-line method of depreciation and has a December 31 year end.Sheridan tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment’s recoverable amount was $289,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000.What will appear on Sheridan's 2021 balance sheet with regard to this equipment?Sheridan Snowboarding CompanyBalance Sheet (Partial)Assets$Add/Less: 2. Assuming no further impairments or recoveries, calculate the annual depreciation expense for the years 2022 to 2024. (Round depreciation rate to 2 decimal places, e.g. 15.75 and final answers to 0 decimal places, e.g. 5,275.)Depreciation Expense2022 $2023 $2024 $
Assets Equipment (net of accumulated depreciation) $385,000 . The annual depreciation expense for the years 2022 to 2024 will be $34,875.
1. On Sheridan's 2021 balance sheet, the equipment will appear at its carrying value, which is calculated as follows:
Original cost of equipment: $660,000
Less: Accumulated depreciation (2021) = ($660,000 - $50,000) / 10 x 5 years = $275,000
Carrying value of equipment = $385,000
Therefore, the equipment will appear on Sheridan's 2021 balance sheet as follows:
2. To calculate the annual depreciation expense for the years 2022 to 2024, we first need to determine the new depreciable amount and the revised useful life of the equipment:
New depreciable amount = $289,000 - $10,000 = $279,000
Revised useful life = 8 years
Annual depreciation expense = Depreciable amount / Useful life
2022: $279,000 / 8 = $34,875
2023: $279,000 / 8 = $34,875
2024: $279,000 / 8 = $34,875
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To balance the money coming in with that going out of the Social Security program by 2017:
In order to balance the money coming in with that going out of the Social Security program by 2017, there are a few options that can be explored.
One option is to increase the Social Security tax rate, which is currently set at 6.2% for employees and employers. This could be done by raising the rate or by increasing the maximum taxable earnings, which is currently set at $137,700 in 2020.
Another option is to raise the full retirement age, which is currently set at 67 for those born in 1960 or later. This means that individuals would need to work longer before becoming eligible for full Social Security benefits.
Additionally, changes could be made to the benefit formula, such as adjusting the way benefits are calculated or reducing benefits for higher earners.
It is important to note that any changes to the Social Security program must be made carefully and with consideration for those who rely on the program for their retirement income.
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Accounting information system in a computer environmentVisualisation tools have become a well-used tool amongst companies with substantial information lakes that want to sort and visualise it in an easy and understandable way...
The use of visualisation tools has become increasingly popular among companies with large amounts of data to sort through, especially in the context of an accounting information system in a computer environment.
These tools allow businesses to easily and effectively visualise and analyse their data, enabling them to identify patterns and trends that may not have been apparent through traditional data analysis methods. With the ability to quickly and easily access and understand their data, businesses can make more informed decisions and better manage their financial operations.
An Accounting Information System (AIS) in a computer environment refers to a digital framework that collects, processes, and reports financial data for businesses. These systems can integrate with visualization tools, which help companies with substantial information lakes to sort and display their financial data in an easily understandable way. Visualization tools enable businesses to analyze trends, patterns, and discrepancies in their financial records, thus supporting effective decision-making and improving overall financial management.
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(Item 3 from "Case Requirements"): Identify the relevant stakeholders in this situation. What are the long-term consequences for stakeholders if SABMiller continues with its current tax practices? Note: You may discuss consequences in general terms, such as positive, negative, neutral, or unknown, since you do not have enough information to quantify these impacts at this time. Do the positive consequences appear to outweigh the negative ones? Can you justify the negative consequences in ways that align with the company’s values?
Please answer this question from 150 words to 400 words.
In this situation, the relevant stakeholders include SABMiller's management, shareholders, employees, customers, suppliers, local communities, governments, and regulatory authorities.
The long-term consequences for stakeholders if SABMiller continues with its current tax practices can be analyzed as follows:
1. Management: The company's reputation may be negatively impacted if it continues with aggressive tax practices. This could lead to a loss of public trust, potentially resulting in decreased sales and profitability.
2. Shareholders: While short-term gains may be achieved through tax savings, negative publicity and potential legal repercussions could lead to a decline in the company's stock price and shareholder value in the long term.
3. Employees: A negative public image may lead to decreased employee morale, making it difficult for the company to attract and retain talent.
4. Customers: If customers perceive the company as unethical due to its tax practices, they may choose to purchase products from competitors, resulting in reduced revenue for SABMiller.
5. Suppliers: If suppliers view the company as a risky partner, they may decide to terminate business relationships, causing potential disruptions in the supply chain.
6. Local communities: Tax avoidance may lead to insufficient funding for public services and infrastructure, negatively impacting local communities and their overall well-being.
7. Governments: Reduced tax revenues could hinder the government's ability to provide essential services to citizens, which may result in increased public dissatisfaction.
8. Regulatory authorities: Persistent tax avoidance practices could lead to stricter regulations and enforcement, increasing compliance costs for SABMiller and potentially other businesses as well.
In terms of whether the positive consequences outweigh the negative ones, it appears that the potential short-term financial gains for SABMiller do not justify the negative long-term impacts on various stakeholders. Moreover, continuing with these tax practices may not align with the company's values, as it could lead to reputational damage and a lack of trust from stakeholders. Therefore, it is recommended that SABMiller reassess its tax practices to ensure they are in line with the company's values and long-term objectives.
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Which method of developing a marketing communications budget uses computer simulations to model the relationship between advertising and marketing communications and sales, profits, and other factors?
A) meet the competition
B) objective and task
C) payout planning
D) quantitative models
The method of developing a marketing communications budget that uses computer simulations to model the relationship between advertising and marketing communications and sales, profits, and other factors is D) quantitative models.
This approach involves using statistical analysis and data modeling techniques to forecast the impact of various marketing communications strategies and tactics on business outcomes. It relies on sophisticated algorithms and mathematical models to identify the optimal mix of marketing activities that will achieve the desired results, such as increased sales or market share. This approach is particularly useful for companies that operate in highly competitive markets, where small differences in marketing effectiveness can have a significant impact on business performance.
By using quantitative models to inform marketing communications budgeting decisions, companies can make more informed and data-driven choices about how to allocate resources across different marketing channels and tactics, and optimize their overall marketing performance.
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North Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 1.600 units are planned to be solo in March. The variable selling and administrative expense is $4.70 per unit. The budgeted fixed selling and administrative expense is $35,660 per month which includes depreciation of $3.100 per month. The remainder of the fored selling and administrative expense represents current cash flows. Compute the cash disbursements for selling and administrative experies on the March selling and administrative expense budget. Show work. o
The cash disbursements for selling and administrative expenses on the March budget will be $43,180 - $3,100 = $40,080.
To calculate the cash disbursements for selling and administrative expenses on the March budget, we first need to calculate the total selling and administrative expenses for the month.
Variable selling and administrative expenses per unit = $4.70
Planned unit sales for March = 1,600
Variable selling and administrative expenses = $4.70 x 1,600 = $7,520
Fixed selling and administrative expenses = $35,660 (includes depreciation of $3,100)
Total selling and administrative expenses for March = Variable expenses + Fixed expenses
= $7,520 + $35,660
= $43,180
Since the question specifies that the remainder of the fixed selling and administrative expense represents current cash flows, we can assume that the $3,100 in depreciation is a non-cash expense and does not affect cash disbursements.
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The starting point that is studied in relation to the degree of change following a promotional campaign is called a:
A) post-hoc analysis
B) marginal analysis
C) benchmark measure
D) standardized measure
Benchmark measure is the starting point that is studied in relation to the degree of change following a promotional campaign. Option c is correct.
A benchmark measure is a baseline measure that is taken prior to the implementation of a promotional campaign. It provides a point of reference for evaluating the effectiveness of the campaign by measuring changes in performance or behavior after the campaign has been launched. For example, if a company wants to measure the impact of a new advertising campaign on sales, it may establish a benchmark measure of current sales levels before launching the campaign. After the campaign has been running for a period of time, the company can compare current sales levels to the benchmark measure to determine if the campaign has been successful in driving sales. Benchmark measures are important because they provide a way to measure the incremental impact of a promotional campaign over and above the normal performance of the business. They can also help to identify areas for improvement and optimization in future campaigns.
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When the student accepted the opportunity of apprenticeship, he or she also accepted the _________ of apprenticeship.
When the student accepted the opportunity of apprenticeship, he or she also accepted the responsibilities and duties of apprenticeship.
This includes showing up on time, following instructions, learning and practicing new skills, and contributing to the workplace. Additionally, apprenticeships often come with a commitment to complete a certain amount of hours or years of training and to maintain a high level of professionalism and work ethic throughout the process.
When the student accepted the opportunity of apprenticeship, he or she also accepted the responsibilities of apprenticeship.
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trying to solve a problem with thinking that is not reasonable or critical will always result in a satisfactory outcome true or false?
Answer: False
Explanation: Trying to solve a problem with thinking that is not reasonable or critical is unlikely to result in a satisfactory outcome.
Trying to solve a problem with thinking that is not reasonable or critical will not always result in a satisfactory outcome. This statement is false. In fact, it may lead to an unsatisfactory outcome or even exacerbate the problem.
Reasonable and critical thinking involves evaluating evidence, considering different perspectives, and drawing logical conclusions.
It helps individuals to identify potential issues and consider alternative solutions.
In contrast, thinking that is not reasonable or critical may involve making assumptions or relying on incomplete information, which can lead to inaccurate conclusions or ineffective solutions.
Problem-solving requires careful consideration of the problem, analysis of potential solutions, and evaluation of their effectiveness.
This process requires critical thinking skills, such as identifying and analyzing assumptions, evaluating evidence, and considering multiple perspectives.
Without these skills, individuals may miss important details, fail to consider all relevant factors, or overlook potential solutions.
Additionally, problem-solving often involves complex and multifaceted issues that require careful consideration and evaluation.
Quick and impulsive thinking may result in overlooking important details, making hasty decisions, or failing to consider all relevant factors. In summary, reasonable and critical thinking is essential for effective problem-solving.
Without these skills, individuals may not be able to identify the root causes of problems, develop effective solutions, or evaluate their effectiveness. Thinking that is not reasonable or critical may lead to ineffective or unsatisfactory outcomes.
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The adjusted trial balance of Concord Cooper Co. as of December 31, 2017, contains the following.
CONCORD COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2017 Debit Credit
Cash 20,507 Accounts Receivable 7,955 Prepaid Rent 3,315 Equipment 19,085 Accumulated Depreciation-Equipment 5,930
Notes Payable 6,735
Accounts Payable 6,507
Common Stock 21,035
Retained Earnings 12,345
Dividends 4,035 Service Revenue 12,625
Salaries and Wages Expense 7,875 Rent Expense 2,182 Depreciation Expense 223 Interest Expense 161 Interest Payable 161
Total 65,338 65,338
Prepare a statement of retained earnings.
To prepare a statement of retained earnings for Concord Cooper Co. as of December 31, 2017, we need to adjust the beginning balance of retained earnings from the previous period for any changes in retained earnings during the current period, including dividends paid and net income earned.
The adjusted trial balance for Concord Cooper Co. as of December 31, 2017, provides the necessary information to prepare the statement of retained earnings. The statement starts with the beginning balance of retained earnings, which is $12,345 from the previous period. The dividends paid during the current period are subtracted from the beginning balance of retained earnings to get the adjusted beginning retained earnings. The net income earned during the year is calculated by subtracting the expenses incurred from the revenues earned. The resulting net income is added to the adjusted beginning balance of retained earnings to get the adjusted ending retained earnings. The statement of retained earnings shows the beginning retained earnings, less dividends, plus net income, equals the ending retained earnings. Keywords used in the explanation include adjusted trial balance, beginning balance, dividends, net income, expenses, and revenues.
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Is there any flexibility for income taxes, when presenting and
disclosing them onto the financial statements?
When it comes to presenting income taxes on financial statements, there is some flexibility in the methods used to disclose them. This flexibility arises from the use of different accounting methods, the timing of recognition, and discretion in estimating tax liabilities.
Tax authorities often provide various tax credits, deductions, and exemptions that businesses can utilize to minimize their taxable income. Generally accepted accounting principles (GAAP) provide guidelines for how income taxes should be presented, but companies can choose between different accounting methods as long as they follow these guidelines. However, it's important to note that companies must be consistent in the method they choose to use from one period to the next. This consistency helps ensure that financial statements are comparable over time and that investors and other stakeholders can make informed decisions based on them.
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the sticky-price theory of the short-run aggregate supply curve says that if the price level rises by 5% while firms were expecting it to rise by 2%, then some firms with high menu costs will have question 10 options: higher than desired prices, which leads to an increase in the aggregate quantity of goods and services supplied. higher than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied. lower than desired prices, which leads to an increase in the aggregate quantity of goods and services supplied. lower than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
Some firms with high menu costs will have: higher than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
So, the correct answer is A.
What's sticky-price theory of the short-run aggregate supply curveThe sticky-price theory of the short-run aggregate supply curve suggests that if the price level rises by more than what firms were expecting, some firms with high menu costs may not be able to adjust their prices immediately.
As a result, they may end up with higher than desired prices. This can lead to a decrease in demand for their products and services, which can in turn lead to a decrease in the aggregate quantity of goods and services supplied.
Therefore, the correct option is: lower than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
This occurs because the higher prices make their goods and services less competitive in the market, leading to a reduction in demand for their products.
Consequently, the overall quantity of goods and services supplied in the economy decreases in the short run.
Hence the answer of the question is A.
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The ledger of Cullumber Company at the end of the current year shows Accounts Receivable $68,000, Credit Sales $810,000, and Sales Returns and Allowances $38,000. Prepare journal entries for each separate scenario below. (a) If Cullumber Company uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Cullumber Company determines that Matisse's $500 balance is uncollectible. (b) If Allowance for Doubtful Accounts has a credit balance of $900 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable(c) If Allowance for Doubtful Accounts has a debit balance of $490 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 7% of accounts receivable. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
The ledger of Cullumber Company at the end of the current year shows Accounts Receivable $68,000, Credit Sales $810,000, and Sales Returns and Allowances $38,000.
(a) If Cullumber Company uses the direct write-off method to account for uncollectible accounts, the journal entry at December 31 to write off Matisse's $500 balance would be:
Debit: Bad Debt Expense $500
Credit: Accounts Receivable - Matisse $500
(b) If Allowance for Doubtful Accounts has a credit balance of $900 in the trial balance, the adjusting entry at December 31 to record bad debts expected to be 8% of accounts receivable would be:
Debit: Bad Debt Expense $4,240 ($68,000 x 8% - $900)
Credit: Allowance for Doubtful Accounts $4,240
(c) If Allowance for Doubtful Accounts has a debit balance of $490 in the trial balance, the adjusting entry at December 31 to record bad debts expected to be 7% of accounts receivable would be:
Debit: Bad Debt Expense $3,590 ($68,000 x 7% + $490)
Credit: Allowance for Doubtful Accounts $3,590
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119. Off-the-job training techniques can include self-study, computer-based training, and role-playing. True False
True. Off-the-job training refers to any training activity that occurs outside of the workplace, and it can include a variety of techniques, such as self-study, computer-based training, and role-playing.
Self-study involves individuals learning on their own through reading books, articles, or other materials related to the topic they want to learn. This technique is useful for individuals who prefer to learn at their own pace or have limited time to attend training sessions.Computer-based training (CBT) involves using computers or other electronic devices to deliver training materials. This technique allows for interactive and engaging learning experiences that can be accessed at any time and from anywhere, making it an ideal option for remote or decentralized workforces.Role-playing is a technique that involves individuals acting out scenarios or situations relevant to their job role or industry. It allows individuals to practice and develop their skills in a safe and controlled environment, helping to improve their confidence and performance in real-life situations.Overall, these off-the-job training techniques are effective ways to provide individuals with the knowledge and skills they need to perform their jobs effectively, whether they are learning on their own, using technology, or practising in a simulated environment.
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Todweed Academy allocates certain costs to its three schools based various costs for the schools:
School Lower
School Middle
School Upper
School Total
# of grades 6 3 4 13
# of pupils 600 400 400 1,400
Tuition revenue $1,200,000 $1,200,000 $1,600,000 $4,000,000
# faculty 24 30 36 90
Marketing and administrative $1,400,000
Holiday party 400,000
Using number of faculty as an allocation base, the amount of holiday party costs allocated to the Middle School is calculated to be:
$400,000.
$60,000.
$100,000.
$160,000.
$133,333
To allocate the holiday party cost based on the number of faculty members, we need to determine the percentage of faculty in each school relative to the total number of faculty members. the amount of holiday party costs allocated to the Middle School is $133,333.
The total number of faculty members is 90, and the Middle School has 30 faculty members. So, the Middle School has 33.33% of the total faculty members (30/90 = 0.3333).
To allocate the holiday party cost to the Middle School, we need to multiply the total cost of the holiday party ($400,000) by the percentage of faculty in the Middle School:
$400,000 x 0.3333 = $133,333
Therefore, the amount of holiday party costs allocated to the Middle School is $133,333.
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Suppose a panel of economists is predicting that a nation's real GDP per capita will have an average annual growth rate of 2%. Based upon the Rule of 70, how many years will it take for this nation's real GDP per capita to double?
A.
35
B.
70
C.
140
D.
20
E.
50
B. 70 years.
The Rule of 70 is a quick way to estimate the number of years it takes for a variable to double, given its annual growth rate. To apply the rule, simply divide 70 by the annual growth rate. In this case, 70 divided by 2 equals 35, so it would take 35 years for the nation's real GDP per capita to double.
The Rule of 70 is a mathematical shortcut that helps to estimate the doubling time of a variable based on its growth rate. It assumes that the growth rate is constant over time, and it is derived from the mathematical equation for exponential growth. The formula for the Rule of 70 is:
Number of years to double = 70 / annual growth rate
For example, if a country's GDP is growing at an annual rate of 3%, the Rule of 70 predicts that it will take approximately 23.3 years (70 / 3) for the GDP to double. The Rule of 70 is a useful tool for understanding the impact of compound growth over time, but it should be noted that it is an approximation and may not be accurate for all scenarios.
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A communications budget is based on:
A) communication objectives
B) marketing objectives
C) both communication and marketing objectives
D) a targeted level of return on investment
A communications budget is typically based on both communication and marketing objectives. Option C is correct.
A communication budget is the amount of money allocated to a company's promotional activities, such as advertising, public relations, sales promotions, and other forms of communication. This budget is typically determined based on the company's communication objectives, which are specific goals related to the promotion of its products or services. However, communication objectives are often aligned with broader marketing objectives, such as increasing sales, expanding market share, or improving customer loyalty. Therefore, a communications budget is typically determined based on both communication and marketing objectives.
In addition to communication and marketing objectives, a company's budget may also be influenced by other factors, such as the competitive landscape, market trends, and available resources. A targeted level of return on investment (ROI) may also be considered when determining the budget, as it helps to ensure that promotional activities are generating a positive financial impact for the company.
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