Assuming a periodic inventroy system, the journal entry to record the purchase on account of $1080 of merchandise with freight of $155 prepaid and added to the invoice is Debit purchases $1080, Debit freight in $155, Credit amt payable $1235.
Because Merchandising Transactions (perpetual inventory system) with expenses takes place in a record book called the journal. The perpetual inventory system is a system of recording inventory balances in the journal entries & Inventory account is adjusted to equal the cost of the merchandise.
Merchandising is the practice and process of displaying and selling products to customers.
Journal is a detailed record of all the transactions done by a business.
Inventory refers to all the items, goods, merchandise, and materials held by a business for selling in the market to earn a profit.
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When drafting an expense budget, such as estimating overhead expenses, it is recommended that you use a ______________ estimate, because you do not want to underestimate expenses.
When drafting an expense budget, such as estimating overhead expenses, it is recommended that you use a liberal estimate, because you do not want to underestimate expenses.
The expense budget shows the revenue and capital payments of various departments or ministries and presents the estimates in respect of each under plan and non-plan. In this budget, expenses mostly include operating expenses, like utilities, rent, payroll, and advertising.
One should not underestimate expenses, so in that case it is recommended that to use a liberal estimate, when drafting an expense budget and when estimating an overhead expenses.
Hence, the answer is given and explained above.
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When a dentist recommends a costly and unnecessary procedure, this is an example of?
Answer:
Veracity is the right answer.
Uber’s expansion on the innovation front requires strategic planning by senior management. Once this planning has been completed, middle management would be responsible for implementing these plans through.
Once this planning has been completed, middle management would be responsible for implementing these plans through (B) tactical planning.
What is tactical planning?Tactical planning is a method that aids in the creation of short-term and distinct plans that aid in the fulfillment of a business's, organization's, or individual's long-term plans. Strategic planning assists businesses in determining and laying out a long-term plan based on corporate objectives.There are several components to tactical planning. For example, breaking down organizational goals that are longer than two or three years, and establishing a goal-oriented calendar with short-term targets, such as a target for the next three months or six months.Therefore, once this planning has been completed, middle management would be responsible for implementing these plans through (B) tactical planning.
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The complete question is given below:
Uber’s expansion on the innovation front requires strategic planning by senior management. Once this planning has been completed, middle management would be responsible for implementing these plans through
Multiple Choice:
(A) operational planning.
(B) tactical planning.
(C) operating.
(D) strategic control.
(E) action plans.
cultural and behavioural expectations of studying for a degree in business management
The Cultural and behavioural expectations of studying for a degree in business management is to be able to know the relationship and the culture with respect to behaviors of employees, managers and customers.
What is cultural behavior in business?The cultural behavior in business helps to be familiar with the employees, managers and customers and the relationship between them as regards the culture of the business.
This help to know the team's behavior, as well as setting them up to to record success in workplace.
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If bonds are issued initially at a premium and the effective-interest method of amortization is used, interest expense in the earlier years will be________.
If bonds are issued initially at a premium and the effective-interest method of amortization is used, interest expense in the earlier years will be greater than if the straight-line method were used.
Amortization of Bond Premium alludes to the amortization of abundance premium paid well beyond the presumptive worth of the Bond. Security has an expressed coupon pace of revenue and pays revenue to the security financial backers in view of such a coupon pace of interest.
It is esteemed at the current worth of premium installments and assumed worth decided in light of the market financing cost. The financial backers pay more than the presumptive worth of the securities when the expressed loan fee likewise called the coupon rate surpasses the market financing cost.
The backer needs to amortize the Bond premium over the existence of the Bond, which, thus, decreases the sum charged to intrigue cost.
Interest expense in the early years will be higher than it would be if the straight-line method were employed if bonds are first issued at a premium and the effective-interest method of amortization is adopted.
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List the environmental forces from the least to the most difficult to analyze based on the accessibility and subjectivity of the data.
Environmental forces from the least to the most difficult to analyze based on the accessibility and subjectivity of the data are:
Basic needs potential, financial and economic forces, political and legal forces, cultural forces, competitive forces.
First Screening is done of basic needs potential : The basic need potential of some goods is influenced by various physical forces, such as climate, topography and natural resources.
Second Screening is done of financial and economic forces : After the initial screening a second screening is based on financial and economic forces.
Third Screening is done of political and legal forces: The elements of political screening are the barriers to entry-import/export barrier etc.
Fourth Screening is done of cultural forces. Screening of the remaining candidates based on cultural factors is next and is a difficult process.
Fifth Screening is done of competitive Forces: In this screening, markets on the basis of competitive forces are examined such as the number, financial strength and size of the competitors
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The failure to record which transaction has no effect on the quality of inventory?
Do not record transactions that do not affect inventory quality. A recorded inventory transaction has actually taken place.
Records of inventory purchases made during the accounting period. The purchase account is increased by direct debit. The manufacturing costs of the goods sold are overestimated by the same amount. An overstatement of cost of goods sold will result in an understatement of net income and retained earnings by the original margin of error.
If the auditor is dissatisfied with the accuracy of the closing balance sheet and may be materially increase.
Inventory write-downs affect both the income statement and the balance sheet. Write-offs are treated as expenses. This means your net income and tax liability will be reduced. Therefore, a decrease in net income will reduce a company's retained earnings and reduce shareholders' equity on the balance sheet.
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You sold jcp stock short at $80 per share. your losses could be minimized by placing a:__.
a) limit-sell order.
b) limit-buy order.
c) stop-buy order.
d) day-order.
e) none of the options are correct.
You sold JCP stock short at $80 per share. your losses could be minimized by placing a Buy-stop order.
When security hits a certain price, a buy-stop order orders a broker to buy it. When the price reaches that point, the buy-stop changes into a market or limit order that can be filled at the following price.
This kind of stop order is applicable to a wide range of tradable products, including stocks, derivatives, forex, and others. With the underlying presumption that a share price will continue to grow after reaching a given level, the purchase stop order can be used for a variety of objectives.
Most people think of a buy-stop order as a technique to guard against the potentially limitless losses of an exposed short position.
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The sample you have selected for your testing is not representative of the population as a whole. this is known as__________
The sample you have selected for your testing is not representative of the population as a whole. this is known as Sampling Risk.
The risk of sampling occurs when there is a chance that the things chosen for a sample are not actually representative of the group being examined. This is a significant problem because an auditor cannot investigate the entire population because of time constraints; instead, they must rely on a sample.
One inaccuracy that might result from sampling risk is that the auditor incorrectly believes that the population has fewer issues than anticipated, which can result in a flawed audit judgment.
Or, the auditor can incorrectly assume that there are more issues than anticipated and waste time increasing the sample size to determine if this is the case.
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The government controls many or most factors of production in which economic system?.
Government Controls Production in Command Economy.
What is the economic command?When the government has complete control over the economy and the means of production, the economy is referred to as a command or planned economy. In a command economy, decisions on what to create, how to make it, and how to distribute it within the economy are made by the government.In a command economy, the government has complete authority over the economy it oversees. The government regulates wages and prices. There are few property rights, important companies and industries owned by the government, and active black markets.Supply and demand factors, which determine what, how much, and at what price goods and services should be produced, are not allowed under a command economy. Instead, all economic activities are planned, coordinated, and under the direction of a single government, which discourages market competition.Government Controls Production in Command Economy.
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According to the keynesian consumption function, an increase in disposable income will result in?
According to the keynesian consumption function, an increase in disposable income will result "an increase in consumption".
What is keynesian consumption function/consumption function?The consumption function, often known as the Keynesian consumption function, is now a mathematical expression expressing the functional connection between total expenditure and gross domestic product.
Some characteristics of keynesian consumption function are-
John Maynard Keynes, a British economist, introduced it and said it could be used to monitor and foresee total aggregate consumption spending.According to the traditional consumption function, changes in income and consumer spending are entirely correlated. If this were the case, aggregate savings ought to rise proportionately as the GDP does over time. The goal is to establish a mathematical link between consumer spending and disposable income, but only at the aggregate level.One of the pillars for Keynesian macroeconomic theory is the consistency of either the consumption function, which is based in part upon Keynes' Psychological Law to Consuming and is particularly striking when compared to the volatility of investment. The majority of post-Keynesians acknowledge that because spending patterns vary as income increases, so consumption function is just not long-term stable.To know more about consumption function, here
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At the beginning of 2006, the rate of energy consumption for the city of denver was 7000 megawatts. the rate was expected to increase at an annual growth rate of 2% per year. the function that gives the rate of energy consumption for all times after the beginning of 2006 is P(????) = 7000???? 0.0198???? .
$5000 energy was consumed during the year
What is energy ?Energy is a quantitative property that is transferred to a body or a physical system and is visible in the performance of work as well as in the appearance of heat and light. The law of conservation of energy holds that energy can be transformed in form but cannot be created or destroyed.
The joule is the unit of energy, the watt is the unit of power, and the second is the unit of time. We can compute the quantity of joules of electrical energy transferred to sortie other form if we know the power of a device in watts and how long it is used.
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When determining what a country should specialize in producing, economists chiefly consider:____.
When determining what a country should specialize in producing, economists chiefly consider comparative advantage.
What is comparative advantage and why is it important?
One advantage of comparative advantage is having the capacity to produce a good or service for a lower opportunity cost. Companies that enjoy a comparative advantage can provide their goods and services at lower prices than their competitors, which boosts their profit margins and increases their sales margins.
When a country has a comparative advantage?
When a nation can produce with a lower opportunity cost than its trading partners, it is said to have a comparative advantage. A nation can produce all goods with an absolute advantage, even though it cannot have a comparative advantage in all goods and services.
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Requiring employees to scan a unique badge to enter your facility is an example of:_________
Requiring employees to scan a unique badge to enter your facility is an example of facility access controls.
An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for the work by your employer (the person or company that pays your wages).
You should take care of your employees as much as you take care of your customers. If you trust and value your employees, they will be more committed to serving your customers well and ultimately contributing to your company in a great way.
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Target costing sets costs based on the price that customers are willing to pay.
a. true
b. false
It is False that Target costing sets costs based on the price that customers are willing to pay.
Because target costing estimates product cost by subtracting a desired profit margin from a competitive market price. As the target cost makes reference to the competitive market, it is fundamentally customer-focused and an important concept for new product development.
Costing is any system for assigning costs to an element of a business.
Competitive is most commonly used to describe a person who has a strong desire to compete and win.
Development is the act, process, or result of developing the development of new ideas an interesting development in the case.
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In a job interview, the interviewer asks different questions of each candidate and there is no formal scoring method. this is an example of a(n)?
In a job interview, the interviewer asks different questions from each candidate and there is no formal scoring method, this is an example of Unstructured interview.
An unstructured interview is a type of interview in which the interviewer asks questions that are not prepared in advance.
In unstructured interviews, questions come out on their own during a naturally flowing conversation, therefore different questions are asked of various candidates.
Other names for unstructured interviews include:
Informal interviews
Casual interviews
Free-flowing interviews
Advantages of unstructured interviews
The main advantage of an unstructured interview is their personalized approach. This is especially useful when you compare candidates who are equally qualified or for jobs where their personality and communication skills are crucial.
Additionally, since unstructured interviews allow for a free-flowing conversation, they seem much more casual and help candidates relax and feel more comfortable during the interview.
Disadvantages of unstructured interviews
Since in unstructured interviews different candidates are asked different questions, it’s harder to compare their answers and evaluate candidates equally and objectively.
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The weak form of the emh states that ________ must be reflected in the current stock price.
The weak form of the EMH states that (A) all past information, including security price and volume data must be reflected in the current stock price.
What is EMH?The efficient market hypothesis (EMH), often known as the efficient market theory, asserts that share prices represent all information and therefore persistent alpha production is impossible.Equities, according to the EMH, always trade at their fair value on exchanges, making it impossible for investors to buy cheap stocks or sell for overpriced prices. According to the weak form of the EMH, all previous information, including security price and volume data, must be represented in the current stock price.As a result, outperforming the entire market through skilled stock selection or market timing should be impossible, and the only way an investor can earn larger returns is by selecting riskier stocks.Therefore, the weak form of the EMH states that (A) all past information, including security price and volume data must be reflected in the current stock price.
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The complete question is given below:
The weak form of the EMH states that ________ must be reflected in the current stock price.
A. all past information, including security price and volume data
B. all publicly available information
C. all information, including inside information
D. all costless information
The other individuals present in the particular situation are referred to as the?
The other individuals present in the particular situation are referred to as the social surroundings.
Family structure is an example of a social environment. The social environment consists of the customs and traditions of the society in which the company exists. It includes the living standards, tastes, preferences, and educational levels of people living in the business community.
The social environment consists of perceptions of neighborhood, security, crime, traffic, social cohesion, social norms, car use, and so on. Neighborhood perceptions can affect both children and parents.
A well-designed social environment fosters positive peer relationships, creates positive interactions between adults and children, and provides opportunities for adults to help children achieve social goals. increase.
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Dividend payments that are the result of liquidation of assets are known as ________ and are taxed as capital gains.
Dividend payments that are the result of liquidation of assets are known as return of capital and are taxed as capital gains.
When an investor receives a portion of their initial investment that is not seen as income or capital gains from the venture, this is known as a return of capital.
Remember that an investor's adjusted cost basis is lowered by a capital return. Any further return is taxable as a capital gain until the stock's adjusted cost basis is lowered to zero.
When someone invests, they risk their principal (sometimes referred to as the cost basis) in the intention of earning a return. The return of capital occurs when an investor receives their principal.
It's akin to getting your original money back because it isn't regarded taxable because it doesn't include gains (or losses).
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_______ consumers in the united states have increasing influences on mainstream u. S. Culture, and the buying power of this group is projected to reach $1. 3 trillion in 2015.
Hispanic consumers in the U.s. have an increasing influence on mainstream U. S. Culture.
What is the Hispanic consumer?Hispanic customers are more probable to encounter unique shopping actions, such as shopping online for the first time or buying from new retailers. Categories such as home furnishings and décor and apparel and accessories have moved Hispanics online for the first time to shop for these articles.
Successful Hispanic marketing movements take proper planning, rehearsal, and a profound understanding of the Hispanic market. By factoring in language choices, cultural values, compelling creative messaging, and target audience into account, your company can effectively position itself within the Hispanic market.
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What type of commerce makes up the highest percentage of electronic transactions?
a. b4c
b. b4b
c. c2c
d. b2c
e. b2b
B2B (Business to Business) type of commerce makes up the highest percentage of electronic transactions.
E Option is correct
Business-to-business, or B2B, is a method of doing commerce in which corporations transact with other businesses. It alludes to the trading of goods or services between businesses. This phrase can be used to refer to both offline and internet trade. But e-commerce is where we utilize it the most frequently.
When a business concentrates on a B2B model, it markets to other businesses. As a result, the sales process could be lengthier and more complicated than under a business-to-consumer (B2C) model. (B2B) refers to a deal or business done between two companies, like a wholesaler and a retailer.
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What would happen in the market for loanable funds if the government were to decrease the tax on interest income for savers group of answer choices?
If the government were to decrease the tax on interest income there would be a rightward shift in the supply of loanable funds and an increase in investment.
Loanable funds are the total amount of money that individuals and organizations in an economy have chosen to set aside and lend to borrowers as an investment rather than use for their own needs. It is predicated on borrowing that loanable funds are in demand. The real interest rate and the number of loans made depend on how the supply of savings and the demand for loans interact.
The tax credit will motivate companies to invest more in brand-new facilities and equipment. The demand curve in the market for loanable funds will move to the right due to the demand for borrowing needed to pay for this additional capital investment. The equilibrium interest rate will rise as a result.
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Porosity is the ratio of _________ to _________.
a. total rock volume to pore space
b. pore space to total rock
c. volume permeability to total rock volume
d. total rock volume to permeability
Porosity is the ratio of pore space volume to bulk volume of the rock.
Porosity is the fine of being porous, or complete of tiny holes. liquids move proper via matters that have porosity. pass returned a ways sufficient.
Porosity is the proportion of void area in a rock. it's miles defined because the ratio of the quantity of the voids or pore area divided by the full volume. it's far written as both a decimal fraction among zero and 1 or as a percentage.
Porosity of a rock is a degree of its capacity to hold a fluid,it is the open space in a rock divided with the aid of the total rock quantity (stable and space. Permeability is a degree of the convenience of drift of a fluid through a porous stable,ratio as shown in Equation eight. each porosity and void ratio are used to represent the open area of soil, sediments and rocks.
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Organizations should define themselves not according to the products they produce but according to?
Organizations should define themselves not according to the products they produce but according to how they satisfy their customers. In today's world satisfying a consumer is a important aspect for every company as people do not prefer to run in the rat race of brands. They more focuses on whether they are happy or satisfy with company's products or services.
Earlier doing sale was the only motive of every firm but now this is not so. Organizations uses marketing now a days. Marketing focuses on satisfying customer with sale of goods or services. Marketing also increases the profitability and credibility of the company.
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The text suggests that both employers and job applicants struggle with the hiring process because:____
The text suggests that both employers and job applicants struggle with the hiring process because: the hiring procedure used by an employer frequently differs from the hiring process used by applicants.
Hiring process :
Personality tests are becoming an increasingly common requirement for job applicants. Employers frequently use industrial/organizational psychologists, who study behavior in the workplace, to assist in choosing personality tests to aid in staff selection because there are numerous personality tests available and each assesses something different. Industrial/organizational psychologists may decide to have candidates take the Myers-Briggs test, which assesses personality qualities important for leadership and teamwork, depending on the specific demands of an enterprise. Alternately, they could administer the Minnesota Multiphasic Personality Inventory, which gauges a person's propensity for psychopathology and substance misuse. Various other traits, including mental processes, sociability, motivation, self-awareness, emotional intelligence, stress management, dependability, and work style are examined by other personality tests. Some professionals think personality tests are used and interpreted excessively.
Others contend that personality assessments are crucial to the recruiting process because they can determine how well a candidate "fits" the job description. When recruiting a salesperson, for instance, a corporation may compile a list of the personality qualities of effective salespeople and compare test results of applicants to that benchmark. Many businesses that have employed personality tests have seen a decline in turnover and absenteeism, which translates into significant financial benefits for the business. Other businesses have seen improvements in consumer and employee satisfaction, as well as declines in theft and absenteeism. Nowadays, personality assessments are utilized in the hiring process to reduce the number of candidates to interview.
Employers must swiftly go through a deluge of applications due to the popularity of online job ads, and personality tests provide a quick way for them to focus on candidates who might be a good "match." How should you answer test questions, then, to ensure that you land the job? Although the best answers differ depending on the job and the firm, experts advise against lying on personality tests because they often have sophisticated systems in place to detect deception. According to management expert Luis Valdes, "There is an ideal level for each given character quality, like independence. Most individuals aren't so extreme, so if someone looks to be, it shows they've tried to address all the issues.
Different personality assessments gauge the various actions of job applicants. In order to aid in hiring new employees, industrial or organizational psychologists can advise on the best personality tests to use. Most industrial or organizational psychologists use the Myers-Briggs test for the hiring process out of all the available personality tests.The leadership and teamwork-related personality qualities are assessed using the Myers-Briggs test. The Minnesota Multiphasic Personality Inventory, which assesses applicants' propensity for substance addiction and psychopathology, is one of the additional personality tests that are frequently used in the hiring process.In addition to the aforementioned roles, personality tests also assess traits including reliability, friendliness, mental process, self-awareness, motivation, emotional intelligence, and work style.Although these exams are overused and overinterpreted, it is nevertheless thought that they are crucial for the employment process.Because objective personality tests can forecast how well a job candidate fits the relevant job profile, employers utilize both interviews and them when determining who to hire. Once a candidate passes a series of personality assessments, it is determined whether or not they are a good fit for the position.A personality test compared to a standard also reduces attrition, theft, and absenteeism while increasing employee satisfaction, customer loyalty, and financial savings for the business. Setting up a set standard for personality tests also reduces the pool of candidates for interviews, improving the interviewing process's quality and resulting in the best candidate being chosen.Learn more about hiring process here brainly.com/question/16144730
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Purchasing a copy of a popular app for your smartphone means that you have purchased only a copyright to install and use the software.
a. True
b. False
False Purchasing a copy of a popular app for your smartphone means that you have purchased only copyright to install and use the software.
What is copyright?A copyright is a type of intellectual property that grants the owner the exclusive right to copy, distribute, adapt, display, and perform a creative work for a specific period of time. The creative work could be literary, artistic, educational, or musical in nature.
Copyright, a type of intellectual property law, protects original works of authorship such as poetry, novels, movies, songs, computer software, and architecture.
The owner sells his or her ownership rights to another party in a copyright assignment and has no control over how the third party uses those rights. A copyright assignment is also known as a copyright sales agreement.
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Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. If the wage rate is $11, how many workers will Manfred hire to maximize profits
Manfred can hire 5 workers to maximize profits as the products are sold for $6 each and there is enough production in an hour to hire 5 workers.
What is a worker?Worker is an employee who works for the company, the worker is also called a labor. Labor is paid on an hourly rate, or sometimes a piece of rate is paid in which the labor is paid as much as much production is done or in other words the units are made.
If Manfred hires 5 workers each will be paid $11 per hour, if the worker works for 7 hours a day the total pay for a worker is $77 per day per employee.
The total wages for the 5 workers will be $385 ($11/hour * 7 hours a day * 5 workers).
The total for the month assuming 22 working days will be $8,470 ($11/hour * 7 hours a day * 5 workers * 22 Days)
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When data available to a firm is too old to be useful, what type of forecasting technique should the firm consider?
When data available to a firm is too old to be useful, the type of forecasting technique the firm should consider would be a qualitative technique.
When a firm consists of data which is too old to use, then a firm considers using qualitative forecasting technique. This forecasting technique is a method of making predictions about a company's finances which uses judgment from experts.
These predictions are made my expert employees of a company, who perform qualitative forecasting by identifying and analyzing the relationship between existing knowledge of past operations and potential future operations.
Hence, when data available to a firm is too old to be useful, the firm considers using qualitative forecasting technique.
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Richard is consuming x and y so that he is spending his entire income and mux/px = 6 and muy/py = 10. to maximize utility, he should:_____.
Richard is consuming x and y so that he is spending his entire income and mux/px = 6 and muy/py = 10. to maximize utility, he should consume the same amount of X and Y since he is already maximizing utility.
When consumers maximize utility they are equating the ratio of total utility to price across all goods consumed?
When consumers maximize utility, they are comparing the cost of all the items they consume to the marginal utility. A negative total utility follows from a negative marginal utility. Total utility is at its lowest point when marginal utility is zero. Even though the marginal utility is negative, the total utility might still be positive.
What is the rule for maximizing utility?
Spending money on the item that offers the highest marginal utility per dollar of spending is the best way for consumers to optimize their overall utility for every dollar they spend.
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True or false: a localized total product strategy requires changes to the physical product.
The statement, a localized total product strategy requires changes to the physical product, is false.
The localization product strategy is the process of adapting a product to satisfy the language and cultural needs of the customers in the new markets. This can be done through altering packaging, translating text, or modifying content on websites so that it is appropriate for international customers to buy.
Products can also be localized by changes to the package, accessories, brand name, after-sales service, instructions for use, company image, and warranty.
Hence, a localized total product strategy does not require changes to the physical product. It is false.
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