Sussman's cash-basis income for the month ended January 31 would increase by $4,900. The accrual basis of accounting records revenues when they are earned and expenses when they are incurred, regardless of when cash is received or paid out.
In this case, Sussman Co. made $5,600 in credit sales during January. However, they only collected $1,900 in cash from those sales. Under the cash basis of accounting, they would only record $1,900 in revenue. But under the accrual basis of accounting, they would record the full $5,600 in revenue because they earned it in January, regardless of when they collect the cash. Additionally, Sussman Co. incurred an expense for $1,200 in accrued salaries. But under the cash basis of accounting, they would not record this expense until they actually pay the salaries in cash. However, under the accrual basis of accounting, they would record the $1,200 expense in January because they incurred it even though they haven't paid in cash yet.
Therefore, by restating these activities to the accrual basis of accounting,
Sussman's cash-basis income is
$5,600 in credit sales - $1,200 in accrued salaries = $4,900
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the new ceo of an online music company determines that the company will continue selling subscription services, but it will also design a website that appeals to nonsubscribers.
The new CEO of an online music company determines that the company will continue selling subscription services, but it will also design a website that appeals to nonsubscribers for the organizing.
The subscription services is the services in which the company like music company which is selling their products or services and the company collects the revenue for the continue the operational business process that products or services.
The CEO of an online music company design a website that appeals to nonsubscribers for the organizing data to get better now about the individual why they are not taking subscription service and how many days they steak with their music company.
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The accounting and auditing aspects of revenue-generating activities normally come under the direct supervision of the business office. True or False
The given statement exists True, Revenue-generating operations often fall under the direct control of the business office for their accounting and auditing components.
What are the two most important commodities for a venue?
It is customary for the business office to have direct oversight over the accounting and auditing components of revenue-generating activities. If the manager of a public assembly location is compelled to follow all customary governmental laws and procedures, it is doubtful that the location will be financially successful.
The requirements and interests of "the entire," which is frequently the country, must be dealt with and/or controlled under public management. The more specific demands of an individual or group are managed privately.
The two major categories of commodities—hard commodities and soft commodities—are frequently divided. Agricultural items or livestock, such as corn, wheat, coffee, sugar, soybeans, and pork, are considered soft commodities as opposed to hard commodities, which are natural resources that must be mined or harvested.
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he Yankee Wholesale Company sells merchandise to a variety of retailers. Yankee uses different freight terms with its various customers and suppliers. All sales are made on account.
Required
For each of the following transactions, indicate which company has ownership of the goods in transit:
a. Yankee sold merchandise to X-Mart stores, with shipping terms of F.O.B shipping point.
b. Yankee purchased merchandise from Zendo Manufacturing Company, with shipping terms of F.O.B. destination.
c. Yankee Sold merchandise to Mary's boutique, with shipping terms of F.O.B destination.
d. Sunshine Manufacturing Company sold merchandise to Yankee, with shipping terms of F.O.B. shipping point.
e. Yankee purchased merchandise from Warfield Manufacturing Company, with freight terms of F. O. B shipping point.
f. Stevenson Stores purchased merchandise from Yankee, with shipping terms of F.O.B shipping point.
With each of its various clients and suppliers, Yankee uses a different freight term. There are no credit card sales.
What is merchandise?Merchandise encompasses all types of goods, including personal or commercial products, as well as commodities sold to the general public (retail) or other businesses (wholesale).
Merchandise can also refer to 'freebies,' which are promotional items, such as the custom drink bottles shown here, that are distributed or sold for free. Calendars, magnets, wall art, stationery, greeting cards, textiles, badges, and other items may be included.
Given that the following information about The Yankee Wholesale Company sells merchandise to a variety of retailers.
Ownership of the Goods in Transit Explanation
a)X- Mart Stores Since Sale made on FOB Shipping point, it
denotes risk and ownership is transferred at
the time of shipping hence Buyer would
have the ownership of goods in transit.
b) Zendo Manufacturing Since Purchase made on FOB
Company Destination point, it denotes risk and
ownership is transferred at the time of
Delivery or destination hence Seller
would have the ownership of goods in
c )Cardinal Wholesale Since Sale made on FOB Destination point, it
company denotes risk and ownership is transferred at
the time of Delivery or destination henceSeller
would have the ownership of goods in transit
d)Cardinal Wholesale Since Purchase made on FOB Shipping point,
Company denotes risk and ownership is transferred at
the time of shipping hence Buyer would have
the ownership of goods in transit
e)Cardinal Wholesale Since Purchase made on FOB Shipping point, it
Company denotes risk and ownership is transferred at the
time of shipping hence Buyer would have the
ownership of goods in transit
f) Stevenson Stores Since Sale made on FOB Shipping point, it
denotes risk and ownership is transferred at the
time of shipping hence Buyer would have the
ownership of goods in transit
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According to the circular flow diagram, when a firm receives money for a good or service it sold to a household, the interaction occurs in the --- market
According to the circular flow diagram, when a firm receives money for a good or service it sold to a household, the interaction occurs in the factor market.
What is the factor market?
A factor market is a market where the components of manufacturing are purchased and traded in economics. Factor markets provide income to the owners of productive resources, such as wages, rents, and so on, as well as the factors of production, including land, labour, and capital. It is a market for production inputs like land, labour, and raw materials, to put it simply. A job fair, a landowner selling his property to a mall, or banks lending money to business owners are some instances of factor markets. Factor markets include those land, labour, capital, and entrepreneurship, for instance.
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in , the division of labor in paid employment is increasingly based on whether people provide or apply information or are employed in service jobs such as fast-food counter help or health care work. group of answer choices preindustrial societies industrial societies postindustrial societies agricultural societies
The division of labor in paid employment in postindustrial countries is increasingly based on whether workers offer or apply information or are employed in service jobs like working at a fast-food counter or in the medical field.
In his analysis of social evolution, the French academic Émile Durkheim coined the expression "division of labor" in a sociological meaning. Durkheim claimed that specialization resulted from changes in social structure brought on by an assumed naturally increasing quantity and density of population and a commensurate increase in competition for survival, rather than seeing division of labor as the result of a desire for material abundance. In these circumstances, division of labor served to prevent communities from disintegrating.
Non-industrialized civilizations do not typically exhibit the intense specialization that characterizes industrial societies—the fine-tuning and simplification of tasks (especially those related to a machine technology), such that a worker frequently produces only a small portion of a specific item.
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Media planners calculate the total gross impressions for a schedule by adding the _____.
Media planners add the gross impressions for each media utilised to determine the overall gross impressions for a schedule.
In order to send the correct message to the right audience at the right time, media planning involves choosing the optimum media channels and scheduling. This involves deciding which media outlets to use, such as TV, radio, magazines, newspapers, and online media, as well as when to run the advertisements.
Although connected, the three components of a successful media plan—purpose, audience, and reach—must be taken into account separately in the beginning phases of the planning process. Here is a list of the elements of a successful media strategy.
The two main elements of media objectives are typically the target audience and the communication objectives. The target audience element of the media objectives identifies the audience that the campaign is meant to reach.
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which of the following transactions would represent an addition to a nation's current gross domestic product?
the correct answer to the question which of the following transactions would represent an addition to a nation's current gross domestic product ?is option C.) The government increases its domestic purchases of food for use by the military
The government purchase multiplier increases aggregate demand and national income for every dollar increase in government spending, which in turn increases induced spending. Decreased private spending as a result of increased government purchases. A decrease in government spending tends to slow down economic activity as the government buys fewer goods and services from the private sector. Higher tax revenues tend to slow down economic activity because personal disposable income decreases, which can lead to less spending on goods and services
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cials advertised nationally throughout the franchise system. One Monday, she was surprised to find customers asking for specials she hadn't been informed of in advance. The franchise company failed to tive up to the value-driven activity of O A) balancing customers' benefits and costs. O B) keeping prices below those charged by competitors. O ) building relationships with customers O D) evaluating strategic competitive partnerships. O E) sharing information across the organization.
Option D. sharing information across the organization. Transferring implicit (undocumented) and explicit (documented) knowledge from one person to another is known as knowledge sharing.
Information sharing between and within organisations shouldn't be difficult! Information sharing can be difficult, regardless of whether it takes place internally (across units) or outside (between organisations or levels of government).
Data interchange between multiple companies, people, and technologies is referred to as information sharing. There are various forms of information exchange, including: information that people exchange.
The best ways to share information depend on the kind of material being sent as well. Make certain that standards are established for everyone's benefit. Depending on the kind of projects you produce, a centralised data-sharing platform.
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. compute the total amount of cash that would have been collected after the discount period if customers had not taken any cash discounts. example
Cash Discount is multiple of Purchase Price Discount Rate is how the formula is expressed.
How are total cash discounts calculated?In the calculation, the price and the rate are used to determine the cash discount. Cash Discount = Purchase Price x Discount Rate is how the formula is expressed. For instance, if the product costs $200 and the discount rate is 10%, the cash discount would be $20, which implies the customer would save $20.Effective yearly rate for Cost of Trade Credit [for not accepting cash discount] = [1+Discount/ (1-Discount)] Number of days after the disc/(365). = (1 + 3/97) 365 / 30 - 1 = (1.0309)12.1667 - 1 = 0.4486, or 44.86%Imagine, for instance, that a business provides "3/10, net 40" as its conditions of sale or loan.To learn more about Cash Discount refer to:
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which of the following purchases would be counted as a final good in the gdp calculation? group of answer choices any one of the answers is correct. a business purchase of new office equipment a speculator's purchase of 100 shares of apple computer stock a deli's purchase of bread for making sandwiches a family's purchase of a pre-owned vehicle
The GDP calculation would include a firm' purchase of new computer equipment as a final good.
The market worth, expressed in dollars, of all the finished goods and services that nation produces and sells within a given time frame is that nation's gross domestic product (GDP). This measurement must undergo numerous analyses before it can be regarded as a trustworthy indication due to its complicated and subjective nature. "GDP" is one of the most well-known acronyms (gross domestic product). It is frequently highlighted in news stories from the federal reserve, businesses, and the government goods, as well as in publications like newspapers and television. It is frequently used these days to assess the state of both national and global economies.
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aardvark corp. has three products. two products together make up two-thirds of revenues and constitute 50 percent of company profits. aardvark's third product makes up one-third of sales. with profitability far above the industry average, this product is responsible for one-half of aardvark's profits. which of the following statements regarding assessment of the general environment is accurate for aardvark?
The company should monitor the general environment for changes that might affect the revenue and profitability of all products. Option D
By defining or analyzing the scope of the threats and opportunities that will face the company or business, the general environment contributes to the shaping of the task environment. Instead of modifying the job environment, it is more difficult and remote.
Additionally, the business is impacted or affected by the general environment's components. Therefore, the business must keep an eye out for changes in the overall environment that could have an impact on both sales and the profitability of the products.
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The complete question is:
Aardvark corp. has three products. two products together make up two-thirds of revenues and constitute 50 percent of company profits. aardvark's third product makes up one-third of sales. with profitability far above the industry average, this product is responsible for one-half of aardvark's profits. which of the following statements regarding the assessment of the general environment is accurate for aardvark?
a. The company should monitor the general environment for changes that might affect the revenue of all products.
b. The company should monitor the general environment for changes that might affect the profitability of the most profitable products.
c. The company should monitor the general environment for changes that might affect the profitability of all products.
d. The company should monitor the general environment for changes that might affect the revenue and profitability of all products.
A business invested $15,000 on 1 October 2016 in 8%pa investment bonds, with interest being received every six months on 30 September and 31 March. The adjusting entry on 30 June 2017 would be:
The adjusting entry on June 30, 2017, for interest revenue from the investment in bonds of $15,000 at 8% per annum is:
Debit Interest Receivable $300
Credit Interest Revenue $300.
What is an adjusting entry?An adjusting entry is an end-of-the-period accounting record to reflect the accrual basis of accounting.
Adjusting entries help to recognize transactions that have occurred without having any cash effects, making accounts match up to the accounting period.
Some of the adjusting entries include prepayments, accruals, and non-cash transactions like depreciation expenses.
Face value of bonds = $15,000
Interest rate = 8%
Interest payment = semiannual
Interest dates = September 30 and March 31
Adjusting Entry Analysis:Interest Receivable $300 Interest Revenue $300 ($15,000 x 8% x 3/12)
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the information presented here represents selected data from the december 31, 2022, balance sheets and income statements for the year then ended for three firms. required: calculate the missing amounts for each firm.
The missing amounts are for firm A: Retained earnings = $63,600 and Ending total assets = 48,000 + 33,000 + 63,600 = $144,6000; for firm B: Ending total liabilities = $114,000 and Dividends = $24,400; for firm C: Ending retained earnings = $105,000 and Beginning Retained earnings = $73, 200.
In order to determine the missing amount for each firm in the given balance sheets and income sheets, two equations are used.
The total assets are the sum of the book value of all assets owned by a business. The total assets are the sum of total liabilities and shareholder’s equity. Hence,
Ending total assets = Ending total liabilities + Shareholder’s Equity
Shareholder equity refers to the money attributable to the owners of a business or its shareholders and includes paid in capital and retained earnings.
Shareholder’s Equity = Ending paid in capital + Ending retained earnings
Hence,
Ending total assets = Ending total liabilities + Ending paid in capital + Ending retained earnings
Retained earnings refers to the net earnings a company either reinvests in the business or uses to pay off debt. The remaining amount is distributed to shareholders in the form of dividends.
Retained earnings = Beginning Retained earnings + Net income - Dividends
For firm A:
Retained earnings = Beginning Retained earnings + Net income - Dividends
Retained earnings = 30,000 + 40,800 – 7,200 = $63,600
Ending total assets = Ending total liabilities + Ending paid in capital + Ending retained earnings
Ending total assets = 48,000 + 33,000 + 63,600 = $144,6000
For firm B:
Ending total assets = Ending total liabilities + Ending paid in capital + Ending retained earnings
261,000 = Ending total liabilities + 35,400 + 111,600
Ending total liabilities = $114,000
Retained earnings = Beginning Retained earnings + Net income - Dividends
116,000 = 74,400 + 66,000 - Dividends
Dividends = $24,400
For firm C:
Ending total assets = Ending total liabilities + Ending paid in capital + Ending retained earnings
312,000 = 123,000 + 84,000 + Ending retained earnings
Ending retained earnings = $105,000
Retained earnings = Beginning Retained earnings + Net income - Dividends
105,000 = Beginning Retained earnings + 48,600 – 16,800
Beginning Retained earnings = $73, 200
Note: The question is incomplete. The complete question is attached.
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Roberto recently started a new business with money that he collected from his friends and family. All other factors being equal, which of the following financing options has a higher cost for someone who needs capital to start a business?
Roberto’s uncle wants to buy a house next year. He invested $100,000 in the business. He expects to earn a 10% rate of return every two years for the next nine years.
Roberto’s aunt invested $100,000 in the business as an investment for retirement, and she expects to receive regular equal payments of $5,500 every year for the next nine years.
The financing option that has a higher cost for someone who needs capital to start a business is the option provided by Roberto's aunt.
This is because the option provided by Roberto's aunt is a debt instrument, meaning that the loan must be repaid with interest. The option provided by Roberto's uncle is an equity instrument, meaning that the investor receives a share of the profits generated by the business, but does not need to be repaid. As such, the debt instrument provided by Roberto's aunt has a higher cost due to the interest payments that must be made by the borrower.
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the ______annual interest rate is usually calculated as the total annual payment divided by the number of payments in the year. multiple choice question. continuous compound quoted effective
Answer:uoewhfwe
Explanation:awkej.b
which of the following statements is correct about the disadvantages or risks of automation in production?
Automation is typically used for high-demand, mature, standardized products.
Automation benefits include increased production rates and productivity, more efficient material use, better product quality, improved safety, shorter labor workweeks, and shorter factory lead times.
Higher output and increased productivity have been two of the most important reasons for justifying the use of automation.
Despite claims of high quality from human craftsmanship, automated systems typically perform the manufacturing process with less variability than human workers, resulting in greater control and consistency of product quality. Increased process control allows for more efficient material use, resulting in less scrap.
Automating an industrial operation is important for worker safety.
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FILL IN THE BLANK pointing out any deficiencies and the possible reasons for them should be done in the _________ step of the marketing research process.
True The board of directors' weakening of Kalanick's authority. By being adaptable, creative, and quick to respond to changes in the market, this kind of culture tries to create innovative products (new drugs).
Which kind of culture is internal-focused and emphasizes control over flexibility and stability?
Internal stability and control over flexibility are valued in a hierarchy culture. Flexibility is valued and an external focus is present in an adhocracy culture.
When chiefs and representatives inside a similar division are united in cross practical?
At the point when chiefs and representatives inside a similar division are united in cross-practical groups to take care of specific issues, their organization is utilizing a group based plan. As per Chester I. Barnard, an association is comprised of something like one individual who endeavors day to day to accomplish the association's objectives.
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investors and creditors rely heavily on managerial accounting information in making investment and lending decisions.
TRUE or FALSE
The aforementioned claim is accurate. Decisions regarding investments and loans are frequently based on information from managerial accounting.
A creditor is a person or business that extends credit to another party so they can borrow money, frequently via a loan agreement or contract.
Creditors like banks have the legal power to seize the collateral—including homes and cars—and take the debtors to court when they fall behind on secured loans.
Creditors view borrowers with high credit scores as low-risk, and as a result, these borrowers frequently receive low interest rates.
Secured creditors, such as a bank or mortgage company, frequently have the legal right to reclaim the asset used as collateral for a loan, such as a car or home, through a lien or repossession.
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which of the following strategies is a firm most likely to use, if it initiates a joint venture with a local company in a foreign country, as a way of adapting to risk?
Equity sharing. An equity share, also known as an ordinary share, is a form of fractional ownership that entails the greatest amount of entrepreneurial liability for a trading concern for each member.
What exactly is an equity sharing contract?With the help of a shared equity finance arrangement, several parties can invest in the acquisition of a property and divide the equity ownership proportionately. When one party cannot afford to buy a home on their own, this kind of agreement is frequently set up. For instance, when a parent assists an adult kid.
What distinguishes equity from shares?Equity is the ownership interest in the company or other significant business component, whereas shares are a measure of the individual's ownership interest in that component.
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Which of the following would be classified as an autonomous change to planned aggregate expenditure? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box.
a. Congress decides to undertake an infrastructure repair project.
b. Interest rates in an economy decrease.
c. Domestic goods become more expensive relative to foreign goods.
d. Current income in an economy increases.
'Current income in an economy increases' would be classified as an autonomous change to planned aggregate expenditure. Thus, option 'D' is the correct option.
What is an autonomous change to planned aggregate expenditure?The parts of an economy's total spending that are unaffected by that economy's real level of revenue are referred to as autonomous expenditures. Both at the governmental and private levels, this kind of expenditure is regarded as automatic and necessary.
According to classical economic theory, every increase in autonomous expenditures would result in at least an equal, if not a bigger, increase in total production, such as GDP. Regardless of income, an autonomous expenditure responsibility must be fulfilled.
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As the population of a country ages, the demand for health care is projected to increase. As a result, the health care industry is likely to experience all of the following EXCEPT
A. an increase in demand for health care workers
B. an increase in demand for medicine
C. an increase in the quantity of health care workers supplied
D. an increase in the wages of health care workers
E. a decrease in the prices of medicine
There will probably not be a fall in the cost of medications if demand for health care is increased.
According to Merriam-Webster, health care is the effort to maintain or restore one's physical, mental, or emotional well-being, particularly by trained and certified experts. The word is often hyphenated when it is used as an attribute.
In the 1966 International Covenant on Economic, Social, and Cultural Rights, the right to health was once more acknowledged as a fundamental human right. Since that time, the right to health and its components, such as the right to medical treatment, have been acknowledged or included in various international human rights accords.
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economic justice was not a mainstream concept before the great depression. the predominant economic theory advocated a laissez-faire market philosophy in which markets would fix themselves through unregulated cycles. with the development of industrialization, business cycles became more and more extreme with dire consequences for ordinary people. with the great depression, some began to advocate for a change in philosophy.
1) The "Share the Wealth" campaign:
("Huey Long").
2) Significant government expenditures
Keynes, John Maynard
Cooperative projects:
From Upton Sinclair.
Great Depression:The Great Depression, which peaked around the 1930s, was viewed as a devastating global economic depression that originated in the US. It began about 1929 in some other nations. Following this, some proponents called for a change in philosophy, including some of the following:
1) Huey Long, a senator from Louisiana who advocated for the "Share the Wealth" movement, which was founded in 1934. Huey Long's position was that the economy needed to be stimulated and emphasized the need for significant federal investment as well as wealth redistribution.
2) John Maynard Keynes, who was active in the movement around:
The state was urged to use idle industries and land owned by cooperative ventures in 1934 to help the economy.
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Correct Question:
Economic justice was not a mainstream concept before the Great Depression. The predominant economic theory advocated a laissez-faire market philosophy in which markets would fix themselves through unregulated cycles. With the development of industrialization, business cycles became more and more extreme with dire consequences for ordinary people. With the Great Depression, some began to advocate for a change in philosophy.
Match the following advocates with the policy for which they advocated.
Advocates:
John Maynard Keynes
Upton Sinclair
the U.S. Supreme Court
Huey Long
Policies:
"Share the Wealth" movement
large-scale government spending
cooperative ventures
which of the following options should a tax professional select to determine the most beneficial education credit or deduction to calculate when a taxpayer, or dependent, has completed less than four years of postsecondary school and qualifies?
If a tax professional decides to calculate an education credit or deduction for a taxpayer or dependant who has successfully completed fewer than four years of postsecondary education, they should choose "Optimize â AOC, Lifetime."
Any person or corporation that owes taxes to the federal, state, or municipal governments is referred to as a taxpayer. Taxes on individuals and businesses are the main way that governments make money. Taxes on deductions must be paid on time and returns must be submitted. Provide precise information on tax returns. Support refund requests.
What is the credit for lifelong learning?The Lifetime Learning Credit is for eligible students enrolled in an approved educational institution who pay for qualified tuition and other education-related costs.
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Question:
Which of the following options should a Tax Professional select to determine the most beneficial education credit or deduction to calculate when a taxpayer, or dependent, has completed less than four years of postsecondary school and qualifies?
O 1â "Optimize â AOC, Lifetime".
O 2â "Force AOC".
O 3â "Force Lifetime".
O 4â "No AOC Eligible".
What is the opening activity in a PBL project that introduces me to the project topic and challenge?
Answer:
The opening activity in a PBL (Project-Based Learning) project is typically called the "driving question" or "challenge question."
Explanation:
This activity is designed to introduce the project topic and challenge to students in a way that is engaging and motivating.
match the form of competition with its correct example. instructions pure competition pure competition drop zone empty. monopolistic competition monopolistic competition drop zone empty. oligopoly oligopoly drop zone empty. monopoly monopoly drop zone empty. coffee, tea, soft drinks cell phone carriers water, electricity, natural gas wheat, grains, and rice
The form of competition with its correct example are matched below:
pure competition - wheat, grains, and rice
monopolistic competition - coffee, tea, soft drinks
What is an oligopoly market?An economic sector with a small number of active enterprises is usually referred to as an "oligopoly." In this market arrangement known as an oligopoly, a few major sellers or manufacturers control the majority of the market or industry. In order to increase profits, which can result in corporate collaboration, oligopolies frequently emerge. A small number of providers control oligopoly marketplaces, which are dominated by them. All nations and a wide range of industries contain them. Other oligopoly markets are substantially less competitive, though they may at first appear to be so in some cases.
oligopoly - cell phone carriers, natural gas
monopoly - water, electricity
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he firm first divides the marketplace into subgroups, determines which of those subgroups it should pursue, and finally decides how it should best position its product or service. true or false
True, With STP, the company first segments the market into subgroups, chooses which of those segments to target, and then chooses how to best position its good or service.
For Ethernet networks, a loop-free logical topology is created using the Spanning Tree Protocol (STP), a network protocol. Bridge loops and the broadcast radiation they cause are the main targets of STP's primary prevention function. Additionally, the use of spanning trees enables the inclusion of fail-safe links in the event that an active link fails in a network architecture. Rapid Spanning Tree Protocol (RSTP), also known as 802.1w, was introduced in 2001 by the IEEE. New convergence behaviours and bridge port responsibilities are introduced by RSTP in order to greatly speed up recovery in response to network changes or failures. Backwards compatibility with traditional STP was a goal of RSTP's design. According to its name, STP builds a spanning tree that depicts the connections between nodes in a network of interconnected layer-2 bridges.
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With STP, the firm first divides the marketplace into subgroups, determines which of those subgroups it should pursue, and finally decides how it should best position its product or service. true or false
ronaldo receives a schedule k-1 from a family business that he does not actively participate in. on it, he shows interest income of $245 and dividends of $681. the schedule k-1 also includes $275 in annuities. ronaldo also has a passive loss of $1,721 from another business. can he offset the loss with the schedule k-1 income? no, he cannot offset passive losses using investment income unless there is enough gain to wipe the loss out completely. yes, he can offset $926 of the loss using the interest and dividends, but not the annuities. no, he cannot offset passive losses with portfolio income. yes, he can offset $1,201 of the loss using the investment income.
Option A is correct which is No, he cannot offset passive losses using investment income unless there is enough gain to wipe the loss out completely.
What is revenue on a Schedule K-1?Schedule K-1 revenue is more equivalent to unearned income for limited partners, passive investors, and beneficiaries of trusts and estates. The money may qualify as earned income for partners and active proprietors of a company or pass-through business organization, and they may be liable for self-employment tax on it.
What makes 1099 as well as a K-1 different from one another?In that, it lists dividends, interests, and other annualized returns from an investment, Schedule K-1 is comparable to Form 1099 in this regard. Depending on the investment, you can get a K-1 or even a Form 1099.
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Which of the following best describes the balance sheet?
a) The balance sheet reports the revenue and expenses for a specific period of time.
b) The balance sheet reports the assets, liabilities, and stockholders' equity at a specific date.
c) The balance sheet reports the changes in retained earnings for a specific period of time.
d) The balance sheet reports the changes in assets, liabilities, and stockholders' equity over a period of time.
The assets, liabilities, and stockholders' equity as of a particular date are listed on the balance sheet. A balance sheet, commonly referred to as a statement of financial condition, lists all of the company's assets, liabilities, and owner equity at a certain point in time.
Which of these summaries a balance sheet the best?The balance sheet is a financial statement created and maintained by the company that shows the assets, liabilities, equity, and financial condition as of a specific date.
Which option best encapsulates a trial balance of balances?A statement that lists every book entry is the best way to describe a trial balance. A trial balance shows the total balances of all real, nominal, and personal accounts.
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while the entrepreneur role describes managers who initiate change, the disturbance or crisis handler role depicts managers who must involuntarily react to conditions. T/F
True. A person who starts a new firm and takes on the majority of the risks and benefits is referred to as an entrepreneur. Entrepreneurship describes the act of starting a firm.
What is entrepreneurship? What is its function?
A business enterprise must be developed, organized, and run with all of its uncertainties in order to be profitable. This is what is meant by entrepreneurship. The launch of new companies is the most well-known example of entrepreneurship.
What are an entrepreneur's four key roles?Innovation and creativity, taking calculated risks, succeeding in those risks, organizing and managing one's business, catalyzing economic growth, getting through resistance to change, and doing research are some of the various aspects of entrepreneurship.
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many local municipalities have mandated locally higher minimum wage than the federally mandated minimum wage. such locally higher minimum wage is established around the idea that people should be able to purchase the essentials of life by working a forty hour work week and is called a(n) . select the correct answer below: minimum wage efficiency wage living wage maximum wage
Higher minimum wage is established around the idea that people should be able to purchase the essentials of life by working a forty hour work week and is called a living wage.
Option C is correct.
Living Wages:The concept of a living wage was introduced in order to provide workers in a nation with a basic standard of living. The theoretical concept of a living wage ensures that every worker can afford the essential necessities of life and maintain a comfortable standard of living. Therefore, the Living Wage is the name given to the area's higher minimum wage.
What is a "living wage"?Food, water, housing, education, healthcare, transportation, clothing, and other essential needs, as well as provision for unforeseen events, are all covered by compensation that a worker receives for a typical work week at a particular [time and] location in sufficient amounts to enable them to maintain a decent standard of living.
Question is incomplete:
many local municipalities have mandated locally higher minimum wage than the federally mandated minimum wage. such locally higher minimum wage is established around the idea that people should be able to purchase the essentials of life by working a forty hour work week and is called a(n) . select the correct answer below:
A. minimum wage
B. efficiency wage
C. living wage
D. maximum wage
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