Current attempt is Date Account Title & Explanation Debit Credit July 01 Account Receivable – Stacey Inc. $23000 .
How are transaction fees calculated?In this case, the lowest price would be 20 cents + 0.5% of $100, or 70 cents overall. The maximum price would be $5.30, or 30 cents + 5.0% of $100. A typical transaction cost would be $3.00 (25 cents plus 2.75%). between around 1.3% and 3.5%For retailers, credit card processing costs range from 1.3% to 3.5% of each transaction. The specific sum is determined by the payment network (such as Visa, Mastercard, Discover, or American Express), the kind of credit card, and the merchant category code (MCC) of the enterprise.Theoretically, transaction costs can be divided into four categories: bargaining costs, opportunity costs, search costs, and policing/enforcement costs.Learn more about transaction fees refer to :
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characteristics of innovative products include blank. question 2 options: frequent markdowns low risk of obsolescence low gross margin numerous competitors
Characteristics of innovative products that include blank is frequent markdowns.
Markdown is a light-weight markup language of creating formatted text using a plain-text editor. John Gruber and Aaron Swartz created Markdown in 2004 as a markup language which is appealing to human readers in its source code form.
What is the meaning of markdowns?
a lowering of price
A lowering of price. : the amount by which an original selling price is reduced.
What are markdowns in retail?
Markdown is a permanent price decrease for product at the end of its life-cycle. Markdowns are used to temporarily increase demand for low-demand products, ideally enough to sell through all stock. Markdowns are caused by excess inventory at the end of selling season.
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direct materials used $ 98,000 direct labor used 171,000 predetermined overhead rate (based on direct labor) 155% goods transferred to finished goods 443,000 cost of goods sold
Direct materials are those materials and supplies that are used in the production of a product and are specifically related to that product.
What are direct materials?The tangible components of a product are known as direct material. The direct components for a baker, for instance, would be flour, eggs, yeast, sugar, oil, and water. In cost accounting, where this expense is specifically categorized in various forms of financial analysis, the direct materials concept is applied.Direct materials are included in the total cost of goods produced, which is divided into the cost of goods sold and ending inventory (which are shown on the income statement). Raw materials and subassemblies are both considered direct materials because they are physically present in finished products. But direct materials don't go as far as that.The quantity of scrap and spoilage that is typically encountered during the production of goods is also included in the term "direct materials. If excessive amounts of scrap and spoilage are encountered, they are viewed as production costs rather than as materials that are directly linked to a product.To Learn more About Direct materials refer to:
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What is the strongest example of multilateral foreign Policy?.
Economic sanctions are applied to a nation by two allies until its leadership modifies a crucial policy.
In American foreign policy, what does multilateralism mean? 158 When three or more states work together, it is called multilateralism.The US has followed a policy of global participation through multilateralism for the majority of the post-World War II era.The cornerstones of U.S. foreign policy are advancing freedom and democracy, safeguarding human rights, and more.Terms in this group (4Isolationism (Loner) (Loner)Avoid interfering with other nations' internal problems.Together with other nations, influence international affairs. Collective Security (Team Player). The concept of internationalism (World Policeman) .Imperialism (World Bully) (World Bully). The World Trade Organization, NATO, and the United Nations are a few examples.An intergovernmental organization called the United Nations is largely responsible for preserving world peace and security.Consequently, the organization serves as a hub for coordinating the operations of numerous states.
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The degree to which education level and income are so closely tied to voter participating in the united states is _____ when compared to european countries.
The complete statement is "The degree to which education level and income are so closely tied to voter participating in the united states is unusual when compared to European countries."
What are education level and income?Generally, According to the findings of various pieces of research, the level of education has a significant bearing on both income and wealth.
There is a correlation between higher levels of education and higher levels of liquid assets held by households.
These households are better able to weather financial storms, diversify their savings (investments), and keep their debt-to-asset ratios low.
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Materials purchased on account during the month amounted to $190,000. Materials requisitioned and placed in production totaled $156,000. The entry to record the transaction for materials requisitioned by the production department is to
Debit______________
Credit_____________
The entry to record the transaction for materials requisitioned by the production department is to
Debit WIP $156,000
Credit Materials $156,000
Organization accountants should account for direct and indirect materials one after the other. The magazine entry for direct substances, this is, substances that can be without delay traced to merchandise, is a debit to the paintings in technique and a credit to the raw materials inventory accounts.
To file materials used in manufacturing, a debit for the value of raw substances is made to the WIP inventory account and a credit score is made to the raw substances account. Exertion fees are spilt between direct and indirect labor.
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werner's fish house purchases a tract of land and an existing building for $980,000. the company plans to remove the old building and construct a new restaurant on the site. in addition to the purchase price, werner pays closing costs, including title insurance of $2,800. the company also pays $13,600 in property taxes, which includes $8,800 of back taxes (unpaid taxes from previous years) paid by werner on behalf of the seller and $4,800 due for the current fiscal year after the purchase date. shortly after closing, the company pays a contractor $49,000 to tear down the old building and remove it from the site. werner is able to sell salvaged materials from the old building for $4,600 and pays an additional $10,800 to level the land. Required: Determine the amount werner's Fish House should record as the cost of the land. (Amounts to be deducted should be indicated by a minus sign.)
The amount Werner's Fish House should record as the cost of the land is calculated to be $1,038,000.
The costs that should be recorded in the cost of the land include all the expenses that are essential in bringing the land to a usable condition. This cost should also contain the cost of preparing the land for the construction of the new restaurant. The property taxes should be excluded since they were paid as unpaid taxes and also are not essential expenses that would bring the land to use.
Therefore;
Cost of the land = Purchase price + Title insurance + Tearing down the old building + Leveling the land - Salvaged materials
Cost of the land = $980,000 + $2,800 + $49,000 + $10,800 - $4,600
Cost of the land = $1,038,000
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cash revenues from the sale of new cars at five star autos would be listed as a cash inflow from operations on five star's statement of cash flows.
Cash revenues from sale of the new cars at five star autos would be listed as payments for the annual premium insurance, payments for the rent office place and cash received from providing services.
What is Cash revenue?For any calculation date, "Cash Revenues" refers to the base rent and interest for all active leases, loans, notes, and direct financing receivables (and comparable revenue streams) as of that date, annualized based on contract rates in effect as of that calculation date. Cash Revenues refers to the consolidated cash revenues of the Purchaser, inclusive of cash revenues from March 1, 1999, to February 29, 2000, excluding trade dollar revenues, and includes any additional cash revenues to the Purchaser from any acquisitions of majority interest (whether for cash or shares in any entities during such period), including cash revenues from strategic alliances or joint ventures of Purchaser, provided that only any increase in cash.
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how much energy would the family save by investing in all of the features that are cost-effective at the current price of energy?
About 9,000 kilowatt-hours per year energy will the family save by investing in all of the features that are cost-effective at the current price of energy.
What type of renewable energy is the most affordable?Currently, hydroelectricity is the least expensive renewable energy source, with an average cost of $0.05 per kilowatt-hour. Because the infrastructure has been in place for a long time and produces electricity reliably, hydroelectric power is the most affordable.
What are the top 5 energy sources?There are five main types of renewable energy:
Energy from sunlight solar energy.Heat from deep within the ground is geothermal energy.Wind power.Plant-based biomass.Water-powered hydroelectricity.To know more about energy resources, visit:
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MovieKind is a large firm that manufactures film equipment. Employees at MovieKind get annual performance appraisals from their supervisors. As the HR Director at MovieKind, you want to modify the current performance evaluation system. Which of the following, if true, best supports the argument that the results method is the most appropriate performance appraisal tool for MovieKind to use?
A. MovieKind wants employees to be more conscious of the strategic importance of their work.
B. You want to maximize developmental feedback given to MovieKind employees.
C. Supervisors at MovieKind work with HR to hire, fire, and train all employees.
D. MovieKind organizes their work around project-based teams of employees united through Pooled interdependence.
E. MovieKind supervisors want to provide subordinates with upward feedback to illustrate employee ratings.
You want to maximize developmental feedback given to Movie Kind employees.
A sizable company that produces film equipment is called Movie Kind. Every year, Movie Kind employees receive performance reviews from their managers. You wish to make changes to the present performance evaluation process as the HR Director at Movie Kind. Many managers at Movie Kind are hesitant to give low performance ratings. , best supports the claim that Movie Kind should adopt the forced distribution approach as its primary performance evaluation tool .Work at Movie Kind is organised around employee project-based teams. At Movie Kind, many supervisors are reluctant to assign poor performance evaluations. You want to provide MovieKind staff as much constructive criticism as possible. When making hiring decisions, MovieKind managers find it challenging to determine the "fit" of potential employees. At MovieKind, many evaluations are required to reduce claims of hiring discrimination.
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out of the over 700,000 construction firms in united states the majority are which of the following business types? question 3 options: joint ventures individual (sole) proprietorships corporations partnerships
A business structure is a class of legally registered enterprises whose regular operations or everyday activities are influenced by it.In general, the three (3) main business kinds are ranked from the easiest to start to the most challenging to start, as follows:
single-person business
Partnership\sCorporationThe type of business started by one guy is a sole proprietorship. Another name for it is one man's operation. The business's liabilities and debt are all owed to this one man. This situation does not fall under the entity idea, which holds that a company and its owner are separate, distinct, and distinctive. All business choices are made by him. He commands and offers directions. The earliest type of business is the sole proprietorship.This business structure has the fewest restrictions from the government of all business formations. There is no need for transparency, and there is no corporate tax. Government grants this company freedom to operate.
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What are 5 tips for using a checking account?.
A checking account allows you to pay bills, move the money to savings, withdraw cash from ATMs, and use your debit card for making purchases. Their checking account would be an important aspect of overall personal financial management.
That is why it is critical to pick a bank account has beneficial features and no fees that deplete your balance.
A checking account would be a sort of bank account which allows you to easily access your money. Unlike the other kinds of bank accounts, particularly savings accounts, checking accounts often enable unrestricted withdrawals as well as deposits, making them an excellent alternative for covering your daily expenses.
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explain how allocative efficiency is related to the concepts of consumer surplus and producer surplus.
According to the concept of allocation efficiency, the specific combination of products that a society produces corresponds to the combination that society most desires.
For instance, a society with a younger population frequently prioritizes the production of education over health care. Utilizing allocative efficiency ensures that resources are allocated properly in light of customer requirements and preferences.
Almost all resources (i.e., elements of production) have a finite amount of supply, hence it is crucial to allocate resources wisely in order to maximize value. An efficient market has an attribute called allocational, or allocative, efficiency in which all products and services are optimally divided among consumers. It happens when parties can use the precise and easily accessible information reflected in the market to decide how to employ their resources.
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kara and sheldon are both middle managers at gotcha international. kara is dissatisfied because she knows that sheldon makes more in salary even though, in kara's opinion, she works longer hours than he does. if kara wishes to reduce this perceived inequity, what should she do?
Reduce her work hours, increase her level of absenteeism, and ask for a raise.
Absenteeism is a recurring pattern of absence from responsibility or obligation with out desirable reason. typically, absenteeism is unplanned absences.[1] Absenteeism has been considered as a hallmark of negative character performance, as well as a breach of an implicit settlement among employees and business enterprise. it's far seen as a control trouble, and framed in financial or quasi-economic terms. greater latest scholarship seeks to apprehend absenteeism as an indicator of psychological, scientific, or social adjustment to work.
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which of the following is an example of flexible manufacturing systems? felix engineering designs the plans and specifications for customer products on the computer. mercury automotive modifies their machinery to produce automotive parts for their customers. peterson brothers products determines the steps a machine must take to produce their products. downtown printing produces a gamut of advertising from postcard promotions to bus billboards.
An example of a Flexible Manufacturing System (FMS) is that Felix engineering designs the plans and specifications for customer products on the computer.
In today's market, customer demand and product specifications change very quickly, so it is critical for a manufacturing system to accommodate these changes as quickly as possible in order to compete in the market. This evolution frequently causes conflict in a manufacturing system because as variety increases, productivity decreases. As a result, the Flexible Manufacturing System (FMS) provides a good balance of variety and productivity.
The emphasis in this system is on flexibility rather than system efficiency. Because building a new production line is a large investment, the existing production line is reconfigured to keep up with the increased frequency of new product design in a competitive Flexible Manufacturing System (FMS).
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What are three reasons that banks charge interest on loans ?.
Cost of Opportunity. Risk protection and cost protection are the three reasons that bank charge interest on loans.
What is the Cost?A cost is an outlay needed to create, market, or prepare an item for regular usage. In other terms, it's the cost incurred to produce a good, buy inventories, sell goods, or prepare equipment for use in a commercial activity.
Costs come in a variety of forms, both fixed and variable, but they are always recorded in the same way. Costs are deducted in a closing entry at the conclusion of the accounting period after being reported as costs on the income statement throughout the period.
Costs related to selling items, such as hiring sales employees, leasing space for sales, and buying product display racks, are reported as selling expenditures and shown on a multi-step income statement.
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what companies are bound to the generally accepted accounting principles? answer: a. all b. privately owned c. none d. publicly owned
Public owned companies are bound to the generally accepted accounting principles.
Who are the shareholders in a public company?
A public company's ownership is distributed among general public shareholders thru the free trade of stock shares on stock exchanges or over-the-counter (OTC) markets.
A public company is one that has sold all or part of its stock to the public through an initial public offering. The capacity of public companies to tap the financial markets by selling stock (equity) or bonds (debt) to raise capital (i.e., cash) for expansion and other projects is their primary advantage.
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Because the CML is based on total risk, in a plot of expected return on standard deviation of returns
A. Individual stocks will plot above the CML.
B. None of the responses is correct.
C. Individual stocks will plot below the CML.
D. Individual stocks will plot on the CML.
E. Individual stocks could plot above or below the CLM.
Individual stocks will plot below the
CML
What is CML?
CML stands for
efficient frontier
, which plots predicted return and overall risk for portfolios made up of a mix of market and risk-free asset holdings. Risk/return combinations for certain securities will follow the SML but not the CML if markets are in
equilibrium
. Because unsystematic risk is diversified away in market portfolios, the risk-return combinations for individual securities will fall below CML.
The capital marKet line (CML) depicts portfolios that balance risk and return 4i444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444]
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In a plot of expected return on standard deviation of returns
C. Individual stocks will plot below the CML
What is CML?
The capital market line (CML) is the portfolios that optimally combine risk and return. It is a theoretical concept that represents all the portfolios that optimally combine the risk averse rate of return and the market portfolio of assets that are risky. In capital asset pricing model (CAPM), investors will choose a position on the capital market line, by borrowing and or lending at the risk-free rate, since this can maximize return for a given level of risk. CML shows portfolios that effectively combine risk and return. The point of intersection of CML and efficient frontier result in the most efficient portfolio known as the tangency portfolio.
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the difference between the actual labor hours and the standard labor hours, multiplied by the standard labor rate, is the:
The correct answer is direct labor efficiency variance. If the distinction of the particular hours and, therefore, the normal hours allowed square measure calculated, the corporate would assess how economical the assembly employees are in producing the product.
If actual labor hours square measure but the budgeted or normal quantity, the variable overhead potency variance is favorable; if actual labor hours square measure over the budgeted or normal quantity, the variance is unfavorable.
An unfavorable variance is the opposite of a positive variance wherever actual prices are unit but commonplace. Rising prices for direct materials or inefficient operations inside the assembly facility can explain associated unfavorable variance in production.
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conventional indemnity health insurance plans, whereby an insured individual pays for services and is later reimbursed by the insurer, were the most common type of health insurance coverage in 2014.
A set percentage of the "usual, reasonable, and customary" costs for the product or care obtained is specified in the plan.
What is being paid back?Reimbursement is reimbursement given by a business for out-of-pocket costs spent or excess payments made by a worker, a client, or a third party. Common instances are the reimbursement of work expenses, insurance premiums, and overpaid taxes.
What does reimbursement mean?Reimbursement occurs when a company reimburses a worker, client, or other person for amount they spend out of pocket or for money they were overpaid. Getting reimbursed for business expenses, insurance premiums, and overpayment taxes are a few examples. However, unlike normal compensation, reimbursements is not taxed.
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if your boss tells you to do something simply because she is the boss, you're dealing with what source of negotiation power?
If your boss tells you to do something simply because she is the boss, you're dealing with positional power.
Positional power refers to a power derived by rank or title in any organization. Positional power enables the person to act in an organization with formal power. Positional power brings along two more powers that are coercive power and reward power. Coercive power enables the person to punish the employees for non-cooperation. Reward power enables the person to appreciate employees for their work.
In the given situation, the boss tells you to do something because of his/her positional power. There are various positional powers in an organization but not all have equal power.
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how will you keep business running if you cannot receive your shipments from brazil beans, china teas, and the custom coffee press machines?
In order for the business to continue running, must look for alternative producers from within the country or other countries.
With the development of information technology as it is today, it can make it easier for us to obtain various kinds of information, including export commodities from a country. Currently, many countries have maximized their plantation yields so that they have sufficient competitiveness compared to the commodity exporting countries of the past. We can start research to find alternative countries that can provide the commodities we need, such as coffee, tea and coffee machine equipment. Or we can start looking for tea, coffee and coffee machines domestically so that it will reduce our expenses.
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Paulina manages a fast food restaurant. Which of the following represents Paulina dealing with a personal barrier to communication? a. Paulina orders new cash registers because the old ones could not integrate credit cards sales in with cash purchases. b. Feeling overwhelmed by the high volume of e-mails, renorts and minutes. c. After hiring two new employees who speak Portuguese, Paulina has the employee handbook and all the restaurant's signs translated d. When Paulina notices a customer who is clenching her fists and glaring angrily into the kitchen, Paulina warmly greets the customer and asks what she can do to help.
In a case whereby "Paulina manages a fast food restaurant the option that represents Paulina dealing with a personal barrier to communication is b. Feeling overwhelmed by the high volume of e-mails, renorts and minutes.
What is personal barrier to communication?Personal barriers to communication can be described as the factors which are personal that negatively impact effective communication howver this personal barrier can be seen due to the experiences or factors such as attitude, emotion and behavior.
It should be noted that the personal Barriers can be related to the factors that are personal to the sender as well as the receiver and act as a hindrance in the communication process.
Inconclusion, about thye case above Feeling overwhelmed by the high volume of e-mails, renorts and minutes can be see as the way he was dealing with the comunication.
Therefore, option B is correct.
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comparing dividends per share and earnings per share indicates the extent to which earnings are being retained for use in operations. true false group of answer choices true false
Comparing dividends per share and earnings per share indicates the extent to which earnings are being retained for use in operations is True.
Retained earnings represent the cumulative amount of net income over the life of a company that has not been distributed to shareholders as dividends. The Statement of Retained Earnings, sometimes called the Statement of Changes in Equity, shows the total profits that a company has accumulated and maintained since it began operations.
Retained earnings are subject to changes in net income and dividends paid to shareholders. As a result, items that drive net income up or down will ultimately affect retained earnings. Net profit is directly related to retained earnings. The three components of retained earnings include initially retained earnings net profit loss during the accounting period and cash and stock dividends paid during the accounting period.
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niwa co. replaced a $3,000 account payable balance to fiona co. with a 60-day, $3,000 note bearing 5% annual interest. niwa's entry to record this transaction would include which of the following entries? (check all that apply.)
Niwa's entry to record this transaction would include :
Credit to notes payableDebit to accounts payableWhat is debited and credited in accounts payable?When a business makes a credit purchase of goods or services, the accounts payable account is credited. When the business pays back a portion of its account payable, the balance is debited.The entry for notes payable is a debit entry. The balance sheet shows the credit as a liability and credits the cash account. As a result, they appear as a negative rather than a credit on your balance sheet.Debit your Cash account for the amount of cash received and credit your Notes Payable account for the liability if your business borrows money under a note payable. Your Notes Payable account will be debited and your Cash account credited when you repay the loan.Credits cause liabilities to grow, whereas debits cause them to shrink. The amount of money you owe rises each time you receive an invoice (accounts payable). Credit the accounts payable because credits increase liabilities.Notes payable is increased from the credit in the amount of the note's face value because it is a liability account with a normal credit balance.Learn more about debited and credited in accounts payable refer to :
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Canton Inc. issued 10000 shares of $1 par value common stock at $10 per share. Mr. Smart the bookkeeper, recorded this transaction with a $100000 debit to cash and a $100000 credit to common stock. As a result of this entry____________
Canton Inc. issued 10000 shares of $1 par value common stock at $10 per share. Mr. Smart the bookkeeper, recorded this transaction with a $100000 debit to cash and a $100000 credit to common stock. As a result of this entry the Additional Paid-In Capital (APIC) will be understated that is option B is correct
Capital reserve is the difference between the face value of a stock and the price investors actually pay. APIC is typically generated when a company issues new shares and is decremented when the company or company buys back old shares. This is called a share buyback. This depends on the issue price of the shares, not the current market value. It is basically used as a reference to indicate that an investor is willing to buy a stock of value and therefore may agree to pay a higher value for the same stock. APIC is calculated using the following formula:
Additional Paid-in Capital Formula = (Issue Price – Par Value) x Number of Shares Outstanding.
Your question is incomplete, but most probably the full quetion was
Canton Inc. issued 10000 of $1 par value common stock at $10 per share. Mr. Smart, the bookkeeper, recorded this transaction with a $100,000 debit to Cash and a $100,000 credit to Common Stock. As a result of this entry: Multiple Choice
a. total assets will be overstated
b. Additional Paid-In Capital will be understated
c. total stockholders' equity will be understated
d. equity will be overstated.
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Using the SPSS output file contained in Question 1, the Pearson Correlation Coefficient (R), the measure that determines the strength of the correlation between our independent variables to our dependent variable (I am worried about global warming), has been determined to be 0.847 indicating a _____________ relationship between our dependent variable and our independent variables!
A. very strong
B. weak
C. very weak
D. no relationship
The Pearson Correlation Coefficient (R), the measure which determines the strength of the correlation between the independent variables to the dependent variable, has been determined to be 0.847 indicating a very strong relationship between the dependent variable and the independent variables.
What is the Pearson Correlation Coefficient (R)?The Pearson correlation coefficient (R) is the most ordinary way of measuring a linear correlation. It is a number between –1 and 1 which measures the strength and direction of the correlation between two variables. Values always range from -1 for a perfectly negative correlation to 1 for a perfectly positive correlation.
In general, the Pearson Correlation Coefficient expresses the degree which, on an average, two variables change correspondingly. If one variable increases when the second one increases, it means there is a positive correlation.
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when there are expectations of higher inflation in the future, we would typically expect the supply of loanable funds to and the demand for loanable funds to . group of answer choices increase; decrease increase; increase decrease; increase decrease; decrease
The rate of price growth over a specific time period is referred to as inflation. Inflation is frequently measured broadly, such as the general rise in prices or the rise in the cost of living in a nation.
What is Measuring inflation?The cost of living for consumers is influenced by a variety of factors, including the cost of many goods and services as well as their proportion in household spending. Government organizations conduct household surveys to identify a basket of frequently bought items and track over time the cost of purchasing this basket in order to calculate the average consumer's cost of living. (Housing expenses, including rent and mortgages, make up the largest portion of the American consumer basket.) The consumer price index (CPI), the most commonly used indicator of inflation, measures the cost of this basket at a given time expressed relative to a base year. Consumer price inflation, on the other hand, is the percentage change in the CPI over a given period.For instance, inflation is 10% throughout the time period if the base year CPI is 100 and the current CPI is 110.To Learn more About inflation refer to:
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Which of the following is not something you should be thinking when considering changes in your auto insurance policy?.
A contract between you and the insurance company to safeguard you against financial loss in the event of an accident or theft is known as auto insurance. The insurance company agrees to cover your losses in accordance with your policy in exchange for your premium payment.
What are the four primary kinds of insurance and coverage?
Life, health, auto, and long-term disability insurance are the four types of insurance that the majority of financial experts recommend.
Should you pay your auto insurance monthly or every six months?
"Covering your vehicle insurance installment at regular intervals will set aside you cash. This could significantly lower your monthly premium, depending on the insurance provider.
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the expiration date of a one-year lease is september 30. on july 1, the house is sold to a family that wants to live in the rental property. assuming the lease does not include a sale clause, how soon can they move in?
A one-year lease has a September 30 deadline. A family that wishes to reside in the rental property purchases the home on July 1. How quickly can they move in October 1 of the current year, providing the lease does not contain a selling clause.
What occurs in Ontario when a one-year lease expires?When a residential lease in Ontario ends without being renewed, the tenancy automatically converts to a month-to-month arrangement. A month-to-month lease gives tenants far more freedom if they wish to move, which is its principal benefit.
What is the legal word for a renter who refuses to leave after their lease has expired?A holdover tenant is someone who continues to live in a rental after their lease expires without signing a new one. In this case, the landlord may take action to evict the tenant or require the renter to sign a new lease.
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What are the benefits of a bank loan?.
A loan is money given to you by a bank or financial institution in exchange for a promise to repay the principal amount plus interest.
Because lenders assume the risk of a possible default, they charge a fee to offset this risk, which is known as interest. Loans bank can be secured or unsecured. Repayment is the act of repaying money borrowed from a lender. Typically, funds are returned through periodic payments that include both principal and interest. The principal is the initial amount of money borrowed in a loan. Before making a loan offer, lenders will consider a prospective borrower's income, credit score, and debt levels.
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