Those aspects of business that a retailer can directly affect are referred to as controllable variables. Generally speaking, strategy, marketing, finances, human resources, technology and equipment, and operations make up the six functional areas of business management. As a result, all business planners should focus on thoroughly investigating and comprehending these topics as they apply to the specific business.
The book All Aspects of the Business/Organization lists nine characteristics that apply to all businesses. The book All Aspects of the Business/Organization lists nine characteristics that apply to all businesses. For success, learners should practice and comprehend the related ideas and abilities.
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A triggering event is a specific event or occurrence that sparks the entrepreneur to proceed from thinking to doing. true false
A triggering event is a specific event or incident that sparks the entrepreneur to move from planning to action. The statement is true.
A barrier or circumstance that, when crossed or met, triggers the occurrence of another event can be physical or abstract. For many different types of contracts, triggering events frequently include employment loss, retirement, or death. In the event of a catastrophic change, these triggers help to assure or avoid that the terms of the original contract may also change. Depending on the insured age, life insurance policies may have a triggering event. In addition, many firms set a threshold for employees' employment as the event that triggers their eligibility for a certain benefit. Stops are a trigger event that investors can use to reduce their downside risk in the world of investments.
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in an irs audit, which of the following situations would cause the irs to think that a contractor might really be an employee?
In an IRS audit, which of the following situations would cause the IRS to think that a contractor might really be an employee the licensee receives an hourly wage.
In an IRS audit, the following conditions would lead the IRS to believe that a contractor is actually an employee for whom the licensee receives an hourly wage. Your audit will be carried out by the IRS either in-person at an interview or via correspondence audit, often known as a postal audit.
Office audits are conducted at your local IRS office; field audits are conducted at your residence, place of business, or the place of business of your accountant or agent. Whichever form the agency requires, the IRS will always mail you to let you know that you are being audited.
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weald co. took advantage of market conditions to refund debt. this was the fifth refunding operation carried out by weald within the last four years. the excess of the carrying amount of the old debt over the amount paid to extinguish it should be reported as a(an)
The correct answer is both options are suitable. By increasing current liabilities, this transaction lowers the current ratio. Current liabilities divided by current assets is the current ratio. Current assets are unaffected.
Long-term refinancing of current debt raises the current ratio and decreases current liabilities while increasing noncurrent debt. Appropriating retained earnings often portends a temporary decline in dividend payments in the future. Total retained earnings are thus kept at a greater level.
This transaction boosts OE by the same amount that total liabilities are reduced. The ratio's denominator increases while the numerator decreases. The ratio falls below the maximum as a result of both circumstances.
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What+would+chester+corporation's+market+capitalization+be+if+the+current+price+rose+10%?
The market capitalization if the current price rose 10% is $73.7 M.
Market capitalization: Market capitalization is the worth of the outstanding shares of the company. It is not similar to the equity value of the company. It can be computed by multiplying the number of outstanding shares by the current price of the share in the market.
Balance Sheet: It can be defined as a statement that provides the summary of the Assets, Liabilities, and the Owner’s equity in an organization on a particular date. It contains all the closing balances of all the accounts that will be represented on the assets and liabilities side.
Calculate the current price using the equation as follows:-
Current Price = Closing price + ( 10% × Closing price)
= $20.76 + $2.076
= $22.836
In this case, the current price provided in the stock market summary has been increased by 10%. Thus, to calculate the increased current price, add 10% of $20.76 to the current price. This will give an increased current price of $22.836.
Market capitalization = Number of outstanding shares × Current price with a 10% hike
= 3.22598 M × $22.836
= $73.7 M.
The market capitalization can be calculated by multiplying the number of outstanding shares with the current market price.
In this case, the number of outstanding shares is $3.225987M, and the current price after a 10% hike is $22.836. Hence, the market capitalization is calculated by multiplying $22.836 by the number of outstanding shares.
The market capitalization if the current price rises by 10% are $73.7M.
Disclaimer:- your question is incomplete, please see below for the complete question.
What would Chester Corporation's market capitalization be if the current price rose 10%?
Select: 1
$267.4 million
$119.5 million
$243.1 million
$108.7 million
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when property rights are well defined and competitive firms freely enter and exit markets, market prices will tend to direct producers toward production of goods and services that consumers value more highly than the resources required for their production." explain why you either agree or disagree with this statement.
Two fundamental economic theories are combined in the law of supply and demand to explain how changes in the price of a resource, good, or service impact its supply and demand.
Supply and demand may not always react to price changes proportionately. Price elasticity refers to how much a product's supply or demand will change as a result of price fluctuations.
Demand fluctuations based on price will be more pronounced for products with a high price elasticity of demand. People cannot readily live without fundamental requirements, hence their prices will be relatively inelastic, meaning that demand will fluctuate less in response to price fluctuations.
Market prices have a tendency to push producers toward creating goods and services that consumers value more highly than the resources needed to generate them when property rights are clearly established and businesses can easily enter and exit marketplaces.
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For strong controls over cash receipts, the checks to be deposited should be sent to the treasurer, and the remittance advices should be sent to the accounting department. true false
True - Sending the treasurer with the cheque to be deposited and the accounting department with the remittance advices will help maintain tight controls over cash receipts.
To stop money from being mishandled and to protect assets, there needs to be strong internal controls. They safeguard the staff members who handle the money as well as the university. Up until they may be deposited, keep cash and checks in a secured, secure location. The location should only be accessible to those who have been given special permission. Any keys should be retrieved or combination changes made if someone with custody responsibility quits their post. Keep in mind that you are liable for any cash or checks that are in your possession.
Make deposits on time. The likelihood of theft or money loss decreases the faster cash and checks can be deposited. Deposits must ideally be made within 24 hours. Deposits can be made weekly if the sums are small (less than $100).
On a monthly basis, confirm the deposit by agreeing Cash Operations deposit slip to the general ledger. Daily balancing of cash registers and credit card readers is required. Over/under amounts need to be watched carefully. It is recommended to keep a dated and signed record of the reconciliation.
A printed recognition of the sum of money received during a transaction involving the transfer of cash or cash equivalents is known as a cash receipt. The vendor gives the consumer the original copy of the cash receipt, keeping the other copy for accounting needs.
Cash receipts are the amounts of money (cash) that you receive from your clients. These boost the amount of cash that is recorded on a company's balance sheet. Sales or collections can be the source of their production. It can be difficult to comprehend the concept of cash receipts.
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what is the future value of $1,000 today if it draws interest at 8% compounded annually for 10 years?
The future value of $1,000 today if it draws interest at 8% compounded annually for 10 years is $215
To find:
The future value of the borrowed amount after 10 years
The investment's present value, or PV, is $1000.
The rate of interest, r = 8% =8/100 = 0.08.
The time in years, t = 10.
n = 1 since the sum is compounded yearly.
The future value formula of compound interest:
FV = PV (1 + r / n)n t
FV = 1000(1+0.08/1)1x10
A = $2159
The future value = $2159
What is Future value ?
Future value is the value of a current asset at some time in the future based on an anticipated growth rate (FV).Investors can reasonably forecast an investment's profit using the FV formula.Calculating the FV of a market investment can be challenging because to market volatility and uncertainty over future investing conditions.One of two methods—compound interest or simple interest—can beused to calculate an asset's FV.To know more about Future value visit:
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which of these describes the composition of the california department of real estate advisory commission?
Ten members, six of whom are real estate brokers and four who are unlicensed consumers, describes the composition of the california department of real estate advisory commission
What is the significance of the California Department of Real Estate?The California Department of Real Estate is a state agency in California focused on safeguarding and promoting the public interest in real estate matters.
Governor Gavin Newsom appointed Doug McCauley as a Commissioner of the California Department of Real Estate on April 2, 2020.
Basically, California Department of Real Estate helps the public through licensure, regulation, education, and enforcement.
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Money and benefit expenses that are paid to employees for their work are known as?
Money and benefit expenses that are paid to employees for their work are known as Compensation.
Employee benefit expenses
Employee expenses are costs incurred as a result of duties performed for an employer. Employee Benefit Expenses are costs incurred on behalf of employees. It comprises expenses such as salary and wages, contributions to the Provident Fund, employee welfare, and so on.
What exactly do you mean by compensation?
A monetary payment provided to an employee in exchange for services is referred to as compensation. Employees earn their compensation in the workplace. It includes income or wages, commission, and any incentives or privileges that come with the employment of the specified employee.
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What+is+the+tax+exempt+equivalent+yield+on+a+9%+bond+yield+given+a+marginal+tax+rate+of+28%?
The tax exempt yield is 12.5%.
We are given the rate of interest and marginal tax in the question. The interest rate is 9% and marginal tax rate is 28%.
The formula to calculate the tax exempt equivalent is as follows -
Tax exempt yield = Interest rate ÷ (1 - your tax rate)
Keep the values in formula to find the value of tax exempt yield -
Tax exempt yield = 9% ÷ (1 - 28%)
Tax exempt yield = 0.09 ÷ (1 - 0.28)
Tax exempt yield = 0.09 ÷ 0.72
Tax exempt yield = 0.125
Calculating tax exempt yield in percentage as follows -
Tax exempt yield = 0.125*100
Tax exempt yield = 12.5%
Hence, the tax exempt yield is 12.5%.
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Variable budget is another name for:________
a) manufacturing budget.
b) cash budget.
c) fixed budget.
d) flexible budget.
e) rolling budget.
Variable budget is any other name for a flexible budget.
A budget is an estimation of sales and expenses over a detailed destiny period of time and is generally compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a set of people, an enterprise, a government, or pretty much something else that makes and spends cash. A price range is a calculation plan, normally however now not continually monetary, for a described period, regularly 12 months or a month.
A budget facilitates creating economic stability. By monitoring prices and following a plan, a budget makes it simpler daily pay bills on time, construct an emergency fund, and keep for important prices such as automobile or domestic. Universal, a budget puts someone on a more potent monetary footing for both the and the long term. Finance is a spending plan day-to-day on income and charges. In other words, it's an estimate of how a whole lot of cash you will make and spend over a sure time period, which includes a month or year. (Or, if you're accounting for the incoming and outgoing money of all of us for your family, that is a family budget.
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most closings involve the division of financial responsibility between the buyer and the seller for such items as taxes, rents, and other items. these divisions are called
Most closings involve the division of financial responsibility between the buyer and the seller for such items as taxes, rents, and other items. These divisions are called prorations.
What is Proration?
A form of corporate action called proration occurs when a corporation divides its initial cash and stock offer in accordance to shareholder preferences. It may occur during an event like an acquisition.
Proration describes activities when a business divides its initial cash and stock offer to satisfy investor preferences. It happens when the offers that shareholders make during a specific corporate action cannot be satisfied with the available cash or shares. Mergers and acquisitions, stock splits, and special dividends are a few examples of situations when proration may take place.
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The goal of many successful organizations is a(n) ______ rate of growth in dividends.
The goal of many successful organizations is a steady rate of growth in dividends.
What do you understand about an Organization?Organizations are groups of two or more individuals who work together to accomplish a single major goal or a number of smaller goals. Organizations may be run by the government, be for-profit businesses, or be nonprofits. Organizations are systems designed to accomplish shared objectives through interpersonal and intra-organizational interactions. They are essentially goal-directed, purposefully constructed for coordinated action systems, and connected to the surrounding environment social entities. However, the concept of administration refers to the group of persons who have formally gathered together as well as the act of arranging things in a logical sequence or the act of approaching tasks in an effective and orderly manner. For instance, when you tidy up your workspace and put all of your paperwork in the appropriate folders.
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Which type of account is increased with a credit? multiple choice question. expense asset dividend revenue
Recognizing revenue for cash or on account enhances assets as well as stockholders' equity. A debit is recorded for a growth in assets (cash or accounts receivable), whereas a credit is recorded for an increase in stockholders' equity (service revenue). Accounts A credit is applied to a receivable account.
Because the owner's capital account has a regular debit balance, the owner's equity account is boosted on the debit side. In effect, a debit rises and a credit decreases an expense account on the income statement. . The account balance is reduced when a debit is placed to any of these accounts.
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The superior position a product enjoys over competing products if consumers believe it has more value than other products in its category is referred to as a?
The superior position a product enjoys over competing products if consumers believe it has more value than other products in its category is referred to as Direct ownership.
A product is an object provided for sale. Products are offerings or items. It may be in bodily or digital or cyber forms. All merchandise is made at a rate and bought at a rate. The rate that may be calculated relies upon at the market, quality, marketing, and goal segment. A product is an object or carrier which you promote to fulfill a customer's desires or desires. they're bodily or digital. Physical merchandise encompasses long-lasting goods (which include cars, furniture, and computers) and consumables (which include meals and beverages).
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What impact can a successful marketing campaign have on nonprofit organizations?
It can help nonprofit organizations attract members and raise much-needed funds in a successful marketing campaign have on nonprofit organizations.
What exactly Is a Fund?
A fund is a grouping of funds set aside for a specific purpose. A fund can be established for a variety of objectives, such as a municipal government putting money aside to build a new civic centre, a college putting money away to grant a scholarship, or an insurance company putting money aside to settle its customers' claims. A fund's objective is to set aside a specified amount of money for a specific need. Individuals and families use an emergency fund in times of emergency.
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a young couple living in rural west-central missouri heard about the closing of a local grocery store. although a small operation, it served a small community that would now have to travel another 20 miles to the nearest grocery store. with help from a local realtor and banker, the couple purchased the store, remodeled it, and reopen it. as new store owners, they had to carefully watch cash flow. as their customer base began to grow, they began offering hot food, and hired others to help with t
A young couple living in rural west-central Missouri heard about the closing of a local grocery store. Although a small operation, it served a small community that would now have to travel another 20 miles to the nearest grocery store. With help from a local realtor and banker, the couple purchased the store, remodeled it, and re-opened it. As new storeowners, they had to carefully watch cash flow. As their customer base began to grow, they began offering hot food, and hired others to help with the operation. The economic benefit created in this story is called the invisible hand.
What's Invisible Hand?
The unobservable market pressure that facilitates the call for and deliver of products in a unfastened marketplace to reach equilibrium robotically is the invisible hand. Description: The word invisible hand changed into brought with the aid of Adam Smith in his book 'The Wealth of nations'.
What's the invisible hand idea?
Invisible hand, metaphor, delivered through the 18th-century Scottish logician and economist Adam Smith, that characterizes the mechanisms through which beneficial social and financial results may also arise from the accumulated self-fascinated movements of individuals, none of whom intends to bring about such effects.
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suppose janet is currently using combination d, producing one train per day. her opportunity cost of producing a second train per day is
Janet's opportunity cost of producing a second train per day is the loss of other commodity which was being produced per one train.
More about opportunity cost:
Opportunity costs are the possible advantages that a person, investor, or company looses while deciding between two options. Opportunity costs are by definition invisible, making it simple to ignore them.
In plain English, it could be described as the value that is lost when a company must choose between two or more options. Opportunity cost, from the standpoint of the investor, always implies that the decisions taken about investments will result in an immediate loss or gain in the future.
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the proposes that tariffs be imposed on imported manufactured goods to give u.s. firms temporary protection from foreign competition until they can fully establish themselves.
The infant industry argument proposes that tariffs be imposed on imported manufactured goods to give u.s. firms temporary protection from foreign competition until they can fully establish themselves.
What are imported goods?Imported goods are goods that are purchased from foreign countries with the objective of selling in the home country due to a lack of ability to produce goods due to a lack of resources.
The infant industry argument proposes that tariffs which include tax duty applicable on imported goods help to provide protection from the competition to make established completely in the foreign countries.
Therefore, option B is appropriate.
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The complete question is Probably
6) The ________ proposes that tariffs be imposed on imported manufactured goods to give U.S. firms temporary protection from foreign competition until they can fully establish themselves.
A) national defense argument
B) infant industry argument
C) industrial policy
D) strategic trade theory
a severe freeze has damaged the florida orange crop. the effect on the market for oranges will be a left shift of
A severe freeze has damaged the florida orange crop. the effect on the market for oranges will be a left shift of the supply curve.
Florida oranges had their worst crop in 70 years. they are facing a deadly disease called citrus greening, unfold in the body of the invasive Asian citrus psyllid. Its subtropical temperatures, abundant sunshine, distinct sandy soil and ample rainfall, Florida offers all critical components to produce a bountiful crop.
Florida oranges are considerable from October through June, although the largest quantities are to be had from December thru may additionally. Clean Florida grapefruit is distributed from September thru June, with the height of the harvest occurring in February. In a terrific year, Florida produces 240 million plus of 90-pound boxes of oranges, but this year, the kingdom may best produce forty four.
The orange shortage is because of a bacterial infection known as citrus greening, an incurable disease it is spread by an insect. Florida growers produce several sorts of citrus, including oranges, grapefruit and specialty fruit which includes Temple oranges, tangerines and tangelos.
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To compensate for differences in the time horizons among investment opportunities, investors use _________ return as their selection criterion.
Investors use average annual return as their selection criterion to account for variations in time horizons among investment possibilities.
The average annual return (AAR), which is typically expressed across three, five, and ten years, is a percentage that represents the historical average return of a mutual fund.
What is average annual return?
The average annual return is reported before operating expense ratio for the fund. Additionally, it excludes sales fees, if any, and brokerage commissions on portfolio transactions.The average annual return (AAR), in its most basic form, gauges how much money a mutual fund made or lost over a specific time frame. As part of their mutual fund investing plan, investors thinking about making a mutual fund investment frequently research the AAR and compare it to other closely related mutual funds.The average annual return is a useful tool for assessing a mutual fund's long-term performance when choosing one. To properly understand the constancy of a fund's annual total returns, investors should also consider the fund's annual performance.To learn more about average annual return visit:https://brainly.com/question/26908347
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identify the three system inhibitors that make it complicated to match supply with demand, while also making a profit.
Three systemic barriers—waste, rigidity, and variability—make it challenging to balance supply and demand while also turning a profit.
Demand is the number of customers that are able and willing to buy products at various price points during a predetermined time frame. Demand is a sign that something or service is desired and that consumers are ready, willing, and able to pay for it.
When there are more buyers available on the market, the total demand rises. For instance, if more people can afford them, the market for and demand for yachts will expand. If fewer people can afford yachts, the market and demand for them fall.
Supply and demand determine a product's price as well as how much is produced and consumed. Customers face the danger of diminishing the available supply of a good by making numerous purchases of that good. Demand grows as a result. As demand increases, the quantity that is easily accessible decreases.
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which of the following competitive growth strategies strives to increase sales of current products in new markets?
The market development is a competitive growth strategy strives that is used to increase sales of current products in new market.
What is growth strategy?
The growth strategy is a strategy that is used by used by the company to increase their sale or increase their revenue.
When a company wants to increase its sale of a current product in new markets this is known as the market development strategy. The market development strategy is a strategy in which the company develops market for its product. The company uses many ways to develop market for the product like advertisement, discount sale, and promotion. These are the same techniques that are adopted by the company to develop market.
Hence, the competitive growth strategy is market development.
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garcia company reports beginning raw materials inventory of $870 and ending raw materials inventory of $732. if the company purchased $3,287 of raw materials during the month, what is the amount of materials used during the month?
The amount of materials used during the month is $3,425
What is raw materials used or consumed in the month?
The raw materials used means the cost of all materials used in producing finished goods inventory in the month Garcia company, which considers the beginning raw materials inventory, the raw materials purchased during the month as well as the ending raw materials inventory as summarized below:
Raw materials used=beginning raw materials inventory+ raw materials purchased-ending raw materials inventory
beginning raw materials=$870
raw materials purchased=$3,287
ending raw materials inventory=$732
raw materials used=$870+$3,287-$732
raw materials used=$3,425
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Financial statements are typically prepared before completing the adjusted trial balance. True or false?.
The statement "Financial statements are typically prepared before completing the adjusted trial balance" is false
What is an adjusted trial balance?
An adjusted trial balance details all general ledger account balances after any adjustments have been accounted for. The adjustments, in this case, would normally include those for prepaid and accrued expenses, as well as non-cash expenses like depreciation or amortization.
Note that the fully adjusted trial balance is required to prepare the financial statements, since the closing entries are also integral part of the financial statements, as a result, the financial statements are prepared after the adjusted trial balance has been completed.
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What are common consequences of a manager making the wrong decision? (choose every correct answer.)
What are common consequences of a manager making the wrong decision?-
A company could lose money.- A company could ruin its reputation.
What is a manager?
A manager is responsible for tasks like staffing, directing, controlling, and planning. All of these tasks are crucial for successfully managing an organization and accomplishing corporate goals. Setting goals and developing techniques for synchronizing activities both involve planning. The person in charge of customer service, who handles client complaints, and who manages and supervises customer service personnel is an example of a manager.
Therefore,What are common consequences of a manager making the wrong decision?-
A company could lose money.- A company could ruin its reputation.
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according to the text, which are the two types of misstatements that are relevant to auditors' consideration of fraud?
The two types of misstatements are fraudulent financial reporting and misappropriation of assets.
Misstatement means altering the right information with the wrong information to save taxes. The misstatement in the books is the most commonly used fraud by the companies. Fraudulent financial reporting and the misappropriation of assets are the two major misstatements done by the company. In this, a company shows wrong information in the financial statements of the company on the other hand in misappropriation of the assets is shown as less than the actual value of assets. By doing this the company wants to reduce its net income and show less value of the assets. These activities of the assets are immediately considered a fraud by the auditors.
Hence, Fraudulent financial reporting and asset misappropriation are the two categories of misstatements.
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tech solutions is a consulting firm that uses a job-order costing system. its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. the firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients.
The predetermined overhead rate is $9 per direct labor hour.
What is a fixed cost?
Fixed costs, sometimes referred to as indirect costs or overhead costs in accounting and economics, are costs incurred by a corporation that are independent of the volume of goods or services the company produces. They frequently occur again and again, like monthly rent or interest payments. These expenses are often capital expenses as well.Costs that are fixed are those that don't change based on volume. Most fixed costs are expenses that depend more on time than on how much your company produces or sells. Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs.Rent and mortgage payments are two examples of fixed expenses. Auto loans. Additional loan paymentsTotal production costs — (Variable cost per unit multiplied by the number of units produced) = Fixed costs.Job cost sheet: The job cost sheet records the details about direct materials cost, direct labor cost, and manufacturing overheads. It shows the total cost of the job work and completion details.
Variable overhead costs: These costs are directly proportional to the level of activity. If there is a change in the activity level by 10%, then there would be a change in the variable cost by 10% in either direction. Variable cost is directly proportional to the volume of the production. Variable cost per unit remains constant.
Fixed overhead costs: These costs do not vary with changes in the level of activity. Fixed cost remains the same for the period. If there is an increase in the activity level, then the fixed cost per unit decreases, and if there is a decrease in the activity level, the fixed cost per unit increases. Fixed cost per unit changes with the change in the activity level.
Pre-determined overhead rate: The rate is calculated based on the activity base. This rate is used to allocate manufacturing overheads.
Calculate the predetermined overhead rate as follows:
Total job cost is calculated by adding the all cost incurred for the completion of the job i.e. direct materials cost, direct labor cost, and overheads cost.
Variable overhead rate is $0.50 per direct lathe bor hour, total estimated fixed overhead is $680,000, and the estimated direct labor hour is 80,000.
Determine the predetermined overhead rate as follows: -
Therefore, the predetermined overhead rate is $9 per direct labor hour.
The variable overhead rate and fixed overhead have been added together to find the predetermined overhead rate as $9 per direct labor hour. The predetermined overhead rate is the sum of the variable overhead rate and fixed overhead. Fixed overhead per direct labor hour has been found out by dividing the total estimated fixed overhead by the estimated direct labor hour.
With the given information in the question, determine the total job cost.
Variable overhead rate is $0.50 per direct labor hour, total actual fixed overhead is $692,000, and the estimated direct labor hour is 83,000.
Determine the total job cost as follows: -
Therefore, the total job cost is $61,520.
The total job cost has been found out by adding the direct materials cost, direct labor cost, and the overheads cost. The overheads cost has been allocated based on the estimated overhead expenses.
The predetermined overhead rate is $9 per direct labor hour.
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suppose abby, brandi, carrie, and deedee are the only four buyers in the market. when the price decreases from $6 to $4, the market quantity demanded
Suppose Abby, Brandi, Carrie, and Deedee are the only four buyers in the market. when the price drops from $6 to $4, the market quantity demanded is increases by 3 units.
Linguistically, demand is a request. If you refer to the law of demand, if all other factors remain the same, when the price of a good is higher, fewer people will look for that good. Thus, the higher the price, the lower the quantity demanded. In other words, the quantity of an item purchased at a higher price becomes less as the price rises. So is the opportunity cost of getting the item.
In terms of language, supply can be interpreted as supply or activities to supply goods. Like the law of demand, the law of supply also shows the quantity of goods sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope of the curve.
It can be concluded that based on the law of supply, the number of goods offered will always be directly proportional to the movement of the price, so if the price of goods increases, the quantity supplied will also increase. Conversely, if the price of a good decreases, the quantity supplied will also decrease.
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Considering the use of management's written representations as audit evidence about the completeness assertion, an auditor should understand that such representations?
complement, but do not replace, substantive tests designed to support the assertion.
Definition of assertion.
the act of claiming or that that is asserted, such as a steadfast and reassuring affirmation, upholding, or defense (of a right or attribute), an assertion of ownership/innocence. He used no arguments to back up his claims other than a declaration that something is true.
Someone making an allegation might aggressively speak up during a presentation to disagree with the presenter, even though he or she has good evidence to back up their claim. The world being flat was a claim made by ancient scientists, for instance.
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