Income summary account would be credited when closing the account for fees earned for the year.
Income summary account reflects all the temporary accounts of a business received upon closing them at the end of every accounting period. It consists of all income statement revenue and expense accounts transferred at the end of an accounting period. The net amount into the income summary account is equal to the net profit or loss that the business incurred during the period.
The income summary account summarizes income and expenses arising from operating and non-operating activities. Thus, it is also termed as a revenue or expense summary account. In all, it is an intermediate account with the balances of the revenue and expenses.
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Which type of externalities does the lumber industry have when more trees are planted?
The type of externalities that the lumber industry have when more trees are planted is positive externalities in production.
An externality is a cost or benefit a producer generates but does not personally bear or receive. An externality can result from the creation or consumption of a good or service and can be both positive and negative.Externalities are unpriced items that are a part of both consumer and producer market transactions.An advantage of creating or using a product is known as a positive externality. For instance, because people learn and develop skills for careers and their lives, education is a beneficial externality of school. Negative externalities, in contrast, are a cost of production or consumption.Thus, lumber industry have positive externalities.
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A+zero-coupon+bond+with+a+par+value+of+$1,000+has+a+current+market+value+of+$597.+if+the+bond+has+6+years+to+maturtiy,+what+is+its+current+yield?+group+of+answer+choices
a. 6.60%
b. 6.37%
c. 0.00%
d. 7.01%
e. 6.94%
The current yield of coupon bond is 0.00 %. So, the correct answer is option (c) 0.00%.
A zero coupon bond will always have Current Yield = 0%
However to prove the same the calculation is shown below
Current Yield = (Coupon Amount / Price of bond) * 100
Where the Coupon Amount = 0% of $1000 = $0
Note - A zero coupon bond does not pay any coupon amount.
Price of bond = $597
Therefore Current Yield = (0 / 597) * 100
= 0.00%
A coupon bond, also known as a bearer bond or bond coupon, is a debt obligation with coupons connected that constitute semiannual interest payments. With coupon bonds, there are no statistics of the patron saved with the aid of the provider; the client's name is also now not published on any kind of certificate.
Upon the issuance of the bond, a coupon price at the bond's face price is detailed. The provider of the bond agrees to make annual or semi-annual hobby payments same to the coupon price to traders. These payments are made till the bond's maturity.
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are shortcuts that managers use to simplify or hurry decision making. answer unselected immediate gratification unselected anchoring effects unselected framing unselected heuristics
Heuristics are shortcuts that managers use to simplify or hurry decision making.
What are Heuristics?Heuristics are known as the various shortcuts that managers in various fields can use to reduce the time they take to make a decision.
This is because Heuristics are much like templates for making certain time of decisions so they simplify decision making and therefore hurry it up.
In conclusion, the shortcuts that managers use to simplify or hurry decision making are known as Heuristics.
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According to the social style matrix, individuals classified as "drivers" have a great desire to get ahead in their companies and careers. true or false
In keeping with the social fashion matrix, individuals categorized as "drivers" have an excellent choice to get ahead in their companies and careers true: It bases the classifications on conversation fashion and not on communication content.
A company is a legal entity fashioned by way of a collection of people to engage in and perform a commercial enterprise corporation in a business or industrial potential. An employer's enterprise line depends on its shape, which could vary from a partnership to a proprietorship, or maybe an organization.
A company is referred to as an enterprise because of its people's will to produce price. The history of “to produce” is Latin, deriving from produco: to steer forth, or bring forward. The history of “organization” is old French, which means compaignie, or companionship. organizations may be categorized into different types based on their mode of incorporation, the legal responsibility of the participants, and quantity of the individuals. The most commonplace kinds of groups are Royal Chartered corporations. Statutory companies. Registered or included businesses.
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Why did the colonists consider taxation by parliament an especially serious threat to their freedom as well as to their pocketbooks?
Colonists consider taxation by parliament a threat to their freedom because it showed the willingness of Britain to control them and take their freedom away.
"No taxation without representation" is a political slogan that originated during the American Revolution and expressed one of the American colonists' primary grievances against Great Britain. In short, many colonists believed that because they were not represented in the distant British parliament, any taxes imposed on them (such as the Stamp Act and the Townshend Acts) were unconstitutional and a violation of their English rights.
Following the refusal of parliamentarian John Hampden to pay ship money tax, the firm belief that the government should not tax a populace unless that populace is represented in some way in the government developed during the English Civil War.
The slogan "No taxation without representation" appeared for the first time in a headline of a February 1768 London Magazine printing of Lord Camden's "Speech on the Declaratory Bill of the Sovereignty of Great Britain over the Colonies," which was delivered in parliament. The British government argued for virtual representation, which held that people were represented by members of Parliament even if they did not have the opportunity to vote for them.
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The company collected $27,000 on may 30th, 2017 for 12 months of service which will take place from june of 2017 through may of 2018. as a result of this transactions, on may 30th teamsnap's?
The company collected $27,000 on may 30th, 2017 for 12 months of service which will take place from june of 2017 through may of 2018. as a result of this transactions, on may 30th teamsnap's Assets increased .
The Accounting Equation: What Is It?The relationship between assets, liabilities, and equity is depicted by the accounting equation. It serves as the cornerstone on which the double entry accounting system is built. In order to make sure that every component of a journal entry is accurate, business transactions must be recorded in line with the accounting equation.
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Suppose someone is studying a production possibilities frontier (ppf) that has a bowed-out shape relative to the origin. what causes this shape?
Let's say someone is researching a bowed-out production possibilities frontier (ppf) with respect to the origin. the law of increasing relative cost causes this shape
A relative price, often known as the ratio of two prices, is the cost of a thing or service in relation to another. A relative pricing can be expressed as a ratio between the costs of any two commodities or as a comparison between the costs of a market basket and a single good (a weighted average of the prices of all other goods available in the market).
Microeconomics can be defined as the study of how economic agents respond to changes in relative prices and how their actions have an impact on those prices. The variation and shift in relative prices can also show how productivity is changing.
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What kinds of workers make it possible to get your hands on a carton of ice cream? what type of work do they do?.
You can obtain an ice cream carton thanks to artisan makers.
What are artisan who manufacture goods?
Freshness, originality, and a sensation of being near to the creator are all features of artisan foods, which are items made with a greater focus on the distinctiveness of each ingredient. The website Good Food Ireland (www.goodfoodireland.ie) connects Irish artisan food producers with the hospitality industry to promote the finest of both fields.
The definition of an artisan is "one that creates something (such as cheese or wine) in small quantities often utilizing traditional methods." The artisan process typically involves hand labor and calls for specialized knowledge, care, or philosophy.
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A+july+sales+forecast+projects+that+6,200+units+are+going+to+be+sold+at+a+price+of+$10.70+per+unit.+the+management+forecasts+15%+growth+in+sales+each+month.+total+july+sales+are+anticipated+to+be:_________
$66,340 will be total anticipated sales of the year. A July sales forecast projects that 6,200 units are going to be sold at a price of $10.70 per unit. The management forecasts 15% growth in sales each month. So the sales budget formula is: Sales = Price X Volume, that is 6,200*$10.70.
What is sales budget?A sales budget is a type of financial plan that forecasts a company's total revenue for a specific period of time. The corporation uses two variables the volume of things sold and the price at which they are sold to forecast its performance.
A sales budget is an itemized plan that calculates the total projected sales revenue by factoring in the quantity of units a person anticipate selling and their estimated selling prices.
Thus, it is $66,340.
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the post. ref. columns are used to trace transactions from the accounts to the journal. what will be entered in the post. ref. column of (1) the journal and (2) the account?
(a) The account number and (b) the journal page number will be entered in the post. ref. column.
A diary is a thorough record of every transaction a firm makes. Information kept in a journal is used to reconcile accounts and transmit data to other accounting records. A journal is described as a record you keep of daily happenings or of your thoughts, or as a periodical that deals with a certain field or industry. A diary is an example of a journal because it allows you to record your thoughts and events.
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If+these+top+nine+trading+nations+made+up+64%+of+all+the+imports+into+the+united+states+in+2017,+how+much+did+the+united+states+import+that+year+overall?+(round+to+whole+number.)
$2922 billion United state import that year.
Imports combined =( $77 + $67 + $110 + $83 + $153 + $171 + $346 + $339 +$524) billion.
= $1870 billion
Total Imports = $1870 billion / 64%
=1870bn/.64
=$2922 billion.
Import is to buy or deliver in goods or services from a overseas united states of America examine export. to usher in from an outside source to import foreign words into the language rare to signify or be widespread; imply; bring to import doom.
An import is any product that's produced abroad after which brought into another country. For example, if a Belgian organization produces chocolate and then sells it within the U.S., that could be an import from an American attitude.
Importing items way bringing in something from some other united states – and it passes through the customs clearance procedure on arrival. Import alternate is regulated by customs government. They control the waft of goods and are liable for collecting obligations and taxes.
Disclaimer:- Correct format of complete question is.
Q. If these top nine trading nations made up 64% of all the imports into the united states in 2017, how much did the united states import that year overall?
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The most importrant objective for financial reporting is to provide information useful for?
The most importrant objective for financial reporting is to provide information useful for making investment and credit decisions. Financial reporting is the practise of documenting and discussing financial activities and performance over time periods that are commonly quarterly or yearly.
Financial reports are used by businesses to compile accounting data and report on current financial investment. Financial reporting enables finance teams and businesses to track and evaluate cash inflows and outflows, assisting in the identification of present and future cash flow risks. This guarantees that the organisation has enough cash flow to expand the business and capitalise on opportunities as they emerge.
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The productivity of camera/drone pats is affected by a variety of factors that include.
The size of assembly quality incentives paid to camera/drone PATs, how well the company's overall total compensation package (excluding overtime pay) per camera/drone PAT member compares to the camera/drone all, and other factors are some of the factors that influence the productivity of both camera PATs and drone PATs.
A methodical approach to giving employees financial value in exchange for their labor is called compensation. Compensation can help with recruitment, job performance, and job satisfaction, among other things.
Compensation typically refers to a monetary payment made to a person in exchange for their services. Employees earn compensation at their places of employment. It includes salary or wages, commission, as well as any bonuses or benefits that are connected to the particular employee's position.
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What does an inverted yield curve usually signal? a. future hyper inflation. b. current or future recession. c. the onset of an asset bubble. d. a flight to quality.
The correct answer is (b) current or future recession.
An inverted yield curve denotes the unusual drop in longer-term debt yields below short-term debt yields of the same credit quality. The inverted yield curve, also known as a negative yield curve, has historically been a relatively reliable lead indicator of a recession.
When long-term interest rates fall below short-term interest rates, the yield curve inverts, indicating that investors are shifting money away from short-term bonds and into long-term ones. This suggests that the market as a whole is becoming more pessimistic about the near-term economic prospects.
In the modern era, such an inversion has been a relatively reliable recession indicator. Because yield curve inversions are uncommon but frequently precede recessions, financial market participants pay close attention to them.
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2. record the transactions, assuming clothing frontiers has either $1 par value or $1 stated value common stock.
The transactions can be recorded assuming $1 par value and $1 stated value separately for each month. This can be done by recording common stock and additional pay and subtracting both the values.
Let us understand the concept first.
What is stated value?
When a stock has no par value, an amount is assigned for internal accounting purposes to a corporation's stock. This value is stated value, typically between $0.01 and $1.00. The stated value has no relation to market price.
What is Par value?
Par value of shares is the face value of a stock stated in the corporate charter.
Preparation of the journal entry to Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock can be done as:
For every month we record the common stock(suppose x) and additional pay(suppose y)Now we subtract common stock from additional pay (y – x) separately for each monthAnd the result will be recorded as transaction.This is the proper way to maintain and record the transactions.
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Increasing trade between two countries makes everyone in those countries better off. true or false?.
Increasing trade between two countries makes everyone in those countries better off.
This problem is a True statement.
What is trade?
The voluntary exchange of commodities or services between various economic entities is referred to as trade. A transaction will only take place if both parties believe it will advance their interests, as there is no obligation on the part of the parties to trade. The trade in tea, which involves importing tea from China and buying it in the US, is an illustration of trade. Working in sales is an example of trade.
Therefore,
Increasing trade between two countries makes everyone in those countries better off.
This problem is a True statement.
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during the year, faye purchased a building for her business, faye's fabulous frocks. the cost of the building, not including the land value, will be deducted:
During the year, Faye purchased a building for her business, Faye's fabulous frocks. the cost of the building, not including the land value, will be deducted Over a period of years, rather than all at once.
Capital expenditure It implies the purchase of capital assets or the expenditure incurred on fixed assets including plant & machinery, buildings, etc.
When an asset is purchased for use in business or trade, its value depreciates over time. Following the accrual basis of accounting that is mostly used by the business as it is a reliable basis, the capital expenditure is not deducted all at once, it's the cost is deducted over time until it is being used in trade.
Hence, the answer is Over a period of years, rather than all at once.
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In analyzing the pharmaceutical industry for a prospective business launch, nicole turco, a ph. D. In pharmacology, concluded that the industry was attractive because the threat of substitutes is ___________.
Answer:
Low
Explanation:
It would simply just be low.
Which type of operation is used to produce many different products with varying process requirements in lower volumes?
Intermittent operations are used to produce many different products with varying process requirements in lower volumes.
A phrase that is widely used in the realm of power control and products is "intermittent operation." intermittent operation refers to a system of operation control that repeats standby and normal operations on a regular basis. Product life activities that are intermittent and recurrent usually concentrate on distinct stages of the product life cycle. Early in a product's life, intermittent is ideal; later, when demand is more predictable, repeated is better. Processes of products that start at an arbitrary time and end at another arbitrary time are known as intermittent operations. The use of intermittent operations in intermittent operation systems allows for the creation of goods only when they are needed or ordered by the client.
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In the second decade of the new millennium, the number of businesses in the united states soared to more than 28 million. at what rate is this number still growing annually?
More than 28 million enterprises were operating in the United States at the beginning of the second millennium. This number is still increasing each year at 15%.
The required details for Business in given paragraph
Business is the hobby of creating one's residing or earning profits through generating or shopping for and selling products (which include items and services). It is likewise "any hobby or agency entered into for profit."
Having a commercial enterprise name does now no longer separate the commercial enterprise entity from the proprietor, because of this that that the proprietor of the commercial enterprise is accountable and answerable for money owed incurred through the commercial enterprise. If the commercial enterprise acquires money owed, the lenders can cross after the proprietor's non-public possessions. A commercial enterprise shape does now no longer permit for company tax rates. The owner is for my part taxed on all earnings from the commercial enterprise.
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in the 20th century, leadership of the railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the business. multiple choice
In the 20th century, railroads may have let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the transportation business.
What is transportation?The movement of people, animals, and things from one place to another is referred to as transport.
To put it another way, the definition of the activity of transport is the specific movement of an organism or thing from point A to point B. Transport methods include cable, pipeline, space, land, water, and the air.
In this case, in the 20th century, railroads may have let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the transportation business.
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In the 20th century, railroads may have let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the __________ business.
A. transportation
B. transcontinental shipping
C. passenger travel
D. product delivery
E. bulk cargo
the principle in accounting relates to making judgments and estimates that result in lower profits and asset valuation estimates rather than higher profits and asset valuation estimates.
According to the conservative principle, you should lean against recording a loss if there is any doubt about sustaining one. The conservative principle is the broad idea that expenses and liabilities should be recognized as soon as feasible when there is uncertainty about the outcome, while income and assets should only be recognized when they are certain to be received.
The lesser profit transaction, or at the very least the deferral of a profit, should be recognized when offered a choice between various possibilities where the odds of occurrence are equal.
Similar to this, acknowledge the transaction resulting in a lower recorded asset valuation if a choice of events with comparable probabilities of occurrence will affect the value of an asset.
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When brandi is sharing with her team members the information she received at this morning's production meeting, she is performing the mintzberg role of?
Brandi is playing the Mintzberg role of the disseminator as she relays to her staff the details she learned at this morning's production meeting.
The way the tasks and responsibilities are carried out within the organisation defines Mintzberg's managerial roles. The three distinct categories of these managerial roles are interpersonal, informational, and decisional. Disseminators are considered to be in the information management role category. The manager's responsibility in this capacity is to communicate important or practical information to the appropriate parties inside the company.Henry Mintzberg, an organisational researcher, developed eleven managerial jobs after doing observational research on CEOs, middle managers, and supervisors. Due to its focus on analysing specifics, facts, and data, it is one of three informational managerial responsibilities, along with monitor and spokesperson. The interpersonal managerial function and the decisional managerial role, which deal with the manager's business interactions, are the other two umbrella groups.To know more about Disseminator visit:
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tom’s house of burgers uses a weighted moving average method to forecast burger sales. it assigns a weight of 5 to the previous month’s demand, 3 to demand two months ago, and 1 to demand three months ago. if sales amounted to 1,000 burgers in may, 2,200 burgers in june, and 3,000 burgers in july, the sales forecast for august would be burgers.
Tom’s house of burgers uses a weighted moving average method to forecast burger sales.
It assigns a weight of 5 to the previous month’s demand, 3 to demand two months ago, and 1 to demand three months ago. If sales amounted to 1,000 burgers in May, 2,200 burgers in June, and 3,000 burgers in July, the sales forecast for august would be burgers will be 2511 burgers.
How to calculate the sales demand?
We have the data:
1000 burgers in May (demand weight of 1) ------1000
2200 burgers in June (demand weight of 3) -----2200 * 3 = 6600
3000 burgers in July (demand weight of 5)------- 3000 * 5 = 15000
Total demand weight = 9
Forecast for August = [tex]\frac{1000+6600+15000}{9} =2511[/tex]
Hence, the sales forecast for august would be burgers will be 2511 burgers.
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Which event is a life-history trade-off? group of answer choices
baboon populations that are well nourished have a higher rate of population growth than those that are not.
Those trade-offs that have acquired maximum interest include (1) present day replica as opposed to survival; (2) simple as opposed to destiny reproduction; (3) present day reproduction as opposed to parental increase; (four) contemporary replica as opposed to parental situation; and (5) range versus size of offspring.
Genetic trade-offs are key additives of lifestyles history principle. traditional examples are egg length versus egg number and survival versus a reproduction. The most proof of his or her existence comes from synthetic choice (Fry, 2003) and manipulative experiments (Zera and Harshman, 2001).
There are three fundamental trade-offs in the existence history principle: current clear versus destiny reproduction, amount as opposed to best of offspring, and mating as opposed to parenting attempt.
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Adding additional risky assets to the investment opportunity set will generally move the efficient frontier _____ and to the _______.
Adding additional risky assets to the investment opportunity set will generally move the efficient frontier Up and to the left.
An investment is the dedication of an asset to gain an increase in value over a period of time. Investing requires the sacrifice of a current asset, such as time, money, or effort. In finance, the purpose of an investment is to generate a return on the assets invested.
An investment is an asset or item that is purchased for the purpose of generating income or increasing value. Appreciation refers to the increase in the value of an asset over time. When an individual purchase a good as an investment, the purpose is not to consume the good but to use it in the future to create wealth.
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(one word) markets are highly structured, whereas (one word) markets are less structured with fewer rules.
Formal markets are highly structured, whereas informal are less structured, with fewer rules
What are formal and informal markets?We look into how formal and informal markets coexist. We suppose that vendors can openly advertise their pricing and locations in legal markets, while sellers in unofficial markets must engage in bilateral negotiations in order to maintain their anonymity in front of the taxation authorities. We think about two models. As a benchmark, we first restrict market switching to sellers exclusively, allowing us to extract certain analytical findings that demonstrate the presence of a stable equilibrium where formal and unofficial markets coexist. We also show that some sellers will move from the formal market to the informal market in the event that the formal market's advantage in quality assurance deteriorates, the government imposes more taxes and regulations on the formal market, the risk of crime and/or confiscation declines in the informal market, or the informal market experiences an increase in buyers. When the opposite developments take place, some merchants will move from the unofficial to the official market. After that, both buyers and sellers are free to swap markets. In this scenario, we demonstrate that there exists a singular locally stable equilibrium where formal sector sellers' and purchasers' net costs of trading have the opposite signs.
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an investor purchased an xyz oct 50 call for a premium of 4. on the expiration date, xyz is selling for 46 and the investor closes the position at the option's intrinsic value. for tax purposes, the investor has
An investor paid a premium of 4 and bought a xyz oct 50 call. When xyz is trading for 46 on the expiration date, the investor closes the trade at the intrinsic value of the option. The investor has a $800 short-term capital gain for tax reasons.
The intrinsic value of a 50 call investor with the stock trading at 62 is 12 points (call-up rule).
That would amount to $1,200 in earnings for the call's owner.
The $400 cost is subtracted, leaving a $800 short-term capital gain.
A measure of an option's profitability based on the strike price and the market price of the underlying stock is called intrinsic value. The projected volatility of the underlying asset and the remaining time before the option expires determine time value. Investors should have a solid understanding of the variables affecting an option's value before entering the world of options trading. These include the price of the stock at the moment, its intrinsic worth, its remaining life or time value, volatility, interest rates, and any cash dividends that have been distributed.
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Pipes r us, a small plumbing company, decides to incorporate. it wants to have greater flexibility than traditional corporations. what type of corporation would work best for this company?
A type of corporation which would work best for Pipes R US is: S corporation.
Types of corporations.In the United States of America, there are four (4) general types of corporations and these include the following:
A sole proprietorshipA Limited Liability Company (LLC)An S Corporation (S-Corp)A C Corporation (C-Corp).What is an S corporation?An S corporation can be defined as a type of corporation that is established to meet specific requirements of the Internal Revenue Code (IRC), which typically includes being taxed under Sub-chapter S of Chapter 1.
This ultimately implies that, all S corporations are generally treated as partnerships for Federal income tax purposes in the United States of America. This ultimately implies that, operating income has no effect on the stock basis of an S corporation shareholder.
In this context, we can reasonably infer and logically deduce that a type of corporation which would work best for Pipes R US is: S corporation because it offers greater flexibility than traditional corporations.
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tuition would be increasing 2.5% for next year, with no changes to fees or room and board. this describes which element of the university’s marketing mix?
It is Constituent of:
Price Mix, which has to do with a rise in tuition, is the component of the marketing mix that is employed in the example situation.
Price mix is the concoction of several "price-related factors" that a producer chooses to choose in order to determine the cost of the good or service he provides.
The cost of producing the product, the elements that affect price decisions, the numerous pricing strategies, the pricing objectives, etc. are some of these variables.
Describe the Marketing Mix.
This is a reference to the strategies a business use to sell its goods or brand.As a result, it is clear that price, which has to do with tuition increases, is the component of the marketing mix that is employed in the example situation.To Learn more about Price Mix, Click the links.
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