Description Term or Phrase 1. Examines whether financial statements are prepared using GAAP. 2. Procedures set up to protect company property and equipment, ensure reliable accounting, promote efficiency, and encourage adherence to policies. 3. A less expensive and more effective means to stop fraud. 4. Three factors push a person to commit fraud: opportunity, pressure, and rationalization. 5. Beliefs that distinguish right from wrong.

Answers

Answer 1

Answer:

1. Audit

2. Internal control

3. Prevention

4. Fraud triangle

5. Ethics

Explanation:

1. Audit: it involves the process of examining whether financial statements are prepared using the Generally Accepted Accounting Principles (GAAP).

2. Internal control: they are procedures set up to protect company property and equipment, ensure reliable accounting, promote efficiency, and encourage adherence to policies.

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.

3. Prevention: it's a less expensive and more effective means to stop fraud.

4. Fraud triangle: three factors push a person to commit fraud: opportunity, pressure, and rationalization.

5. Ethics: beliefs that distinguish right from wrong.

Answer 2

1. Generally accepted accounting principles (GAAP), the accepted standards for financial reporting, are examined to see whether the financial statements were prepared in accordance with them.

2. Internal controls are safeguards implemented by a business to protect its resources, ensure correct accounting, promote efficiency, and encourage adherence to policies. They help reduce risk and protect resources for the business.

3. Cost-effective prevention: This idea emphasizes fraud prevention strategies that are both less expensive and more successful. It focuses on the application of effective techniques to identify and discourage fraudulent activity within an organization.

4. According to the fraud triangle, opportunity, pressure and rationalization are the three elements that can lead to fraudulent behavior. When these factors come together, people may be more likely to commit fraud.

5. Ethical Values: Moral standards are the ideas and precepts that help people to decide what is right and what is wrong. They act as a moral guide for choices and mold the behavior of people and organizations by promoting integrity and accountability.

Learn more about GAAP, here:

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Related Questions

a company enters into a long futures contract to buy 4,000 barrels of oil for $62.50 per barrel. the initial margin is $62.50 x 4,000. what oil futures price will allow $2,000 to be withdrawn from the margin account

Answers

Answer:

For $2,000 to be withdrawn from the margin account, the oil futures price must be $62.

Explanation:

a) Data and Calculations:

Price of the long futures contract to buy 4,000 barrels of oil = $62.50 per barrel

Initial margin = $62.50 * 4,000

b) If the futures price is fixed at $62 per barrel and the initial margin per barrel already opened with a broker is $62.50, then the security investor can withdraw $2,000 ($0.50 * 4,000) from the margin account.  This will result in an excess of $0.50 per barrel.  Computationally, $0.50 * 4,000 = $2,000.

The purchase price and all costs to bring an asset to its desired condition and location for use should be ________.
a. accrued
b. capitalized
c. expensed

Answers

Answer:

b. capitalized

Explanation:

The purchase price and all costs to bring an asset to its desired condition and location for use should be capitalized.

Answer:b capitalized

Explanation:

What advice would you offer to entrepreneurs on a limited advertising budget?


Buy the biggest magazine ad you can, even if it means you can only run it once.

Run smaller, less visible ads more frequently in the best medium for your target audience.

Focus on television advertising.

Focus on radio advertising.

Answers

Answer:

Run smaller, less visible ads more frequently in the best medium for your target audience.

Explanation:

An entrepreneur refers to an individual who sees a need or discovers a problem in a society and innovatively proffers a solution using brilliant ideas or entrepreneurial thinking.

The following are five (5) characteristics of an entrepreneur;

1. Innovative: it can be defined as a quality possessed by an individual or group of people such as an entrepreneur and typically involves the process of improving on an existing product or ideas.

2. Passionate: believing in a course and one's ability to achieve much more at a business.

3. Risk-Taker: he or she is confident enough to venture into risky businesses with the hope of an expected success.

4. Self-confident: he or she is bold and believes in his or her abilities to excel.

5. Well-rounded leader: it involves being compassionate, fun, organized and intelligent as a successful entrepreneur.

Advertisement refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers.

Basically, the advice I would offer to entrepreneurs on a limited advertising budget is to run smaller, less visible adverts (ads) more frequently in the best medium for their target audience because they wouldn't have to pay more to put their goods out there.

Bedeker, Inc., has an issue of preferred stock outstanding that pays a $4.95 dividend every year in perpetuity. If this issue currently sells for $94 per share, what is the required return

Answers

Answer:

Required return = 5.27%

Explanation:

Below is the calculation of required return:

Given the dividend paid amount = $4.95

The selling price of share = $94

Use below formula to find the required return:

Required return = Dividend amount / Selling price

Now plug the values:

Required return = $4.95 / 94

Required return = 5.27%

How do you feel when you buy a product that is overpriced?​

Answers

I feel kind of worried because you are paying to much and maybe if you need to pay rent for your house you won’t have enough money so I get worried to have that.

Hope this helps :)

MC Qu. 114 Lowden Company has an overhead application... Lowden Company has an overhead application rate of 155% and allocates overhead based on direct material cost. During the current period, direct labor cost is $60,000 and direct materials used cost $90,000. Determine the amount of overhead Lowden Company should record in the current period.

Answers

Answer:

the  overhead amount recorded is $139,500

Explanation:

The computation of the overhead amount recorded is shown below:

= Overhead application rate × direct material cost

= 155% × $90,000

= $139,500

Hence, the  overhead amount recorded is $139,500

We simply applied the above formula so that the correct value could come

Which are broad categories of action for crafting strategic moves to improve a diversified company's overall performance? (Choose every correct answer.)

Answers

Question Completion with Options:

O sticking closely with the existing business lineup and pursuing opportunities that those businesses present.

O Divesting certain businesses and retrenching to a narrower base of business operations.

O Widening the company's business scope by making new acquisitions in new industries.

Answer:

The broad categories of action for crafting strategic moves to improve a diversified company's overall performance are:

O sticking closely with the existing business lineup and pursuing opportunities that those businesses present.

O Divesting certain businesses and retrenching to a narrower base of business operations.

O Widening the company's business scope by making new acquisitions in new industries.

Explanation:

In addition to pursuing existing business opportunities, a diversified company can increase its performance indexes by divesting itself of certain unprofitable lines of business or slow-growth businesses and focusing its resources on cash cows and stars.  The pursuit of stars will lead it to make new acquisitions in relatively new industries in order to remain attractive to investors, otherwise, it runs the risk of growing into extinction like the historical dinosaur.

Suppose Yakov and Ana are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Yakov chooses Right and Ana chooses Right, Yakov will receive a payoff of 8.
Ana
Left Right
Yakov Left 8,5 8,7
Right 3,6 9,8
a. The only dominant strategy in this game is for _____ to choose _____.
b. The outcome reflecting the unique Nash equilibrium in this game is as follows: Yakov chooses _____ and Ana chooses _____.

Answers

Answer:

a. The only dominant strategy in this game is for Ana to choose Right.

b. The outcome reflecting the unique Nash equilibrium in this game is as follows: Yakov chooses Right and Ana chooses Right.

Explanation:

A dominant strategy is one that makes a player better off regardless of the choices made by his or her opponent in a game.

Given:

                                 Ana

                         Left            Right

Yakov  Left       8,5               8,7

            Right    3,6               9,8

In this game, when Yakov plays Left, Ana will choose Right since 7 > 5. Ana will also choose Right when Yakov plays Right since 8 > 6. This demonstrates that Ana will always play Right, regardless of what Yakov does. This means that Ana's dominant strategy is Right.

On the other hand, when Ana plays Left, Yakov will also play Left because 8 > 3. However, because 9 > 8, when Ana plays Right, Yakov will likewise play Right. This demonstrates that Yakov does not have a specific strategy that makes him better off. As a result, Yakov lacks a dominant strategy.

Based on the above analysis, we have:

a. The only dominant strategy in this game is for Ana to choose Right.

b. The outcome reflecting the unique Nash equilibrium in this game is as follows: Yakov chooses Right and Ana chooses Right.

g how long (in years) will it take to triple an investment made at a 2% interest rate if the interest is compounded monthly

Answers

It will take 36 years and eight months

When capital is plotted on the vertical axis and labor is plotted along the horizontal​ axis, the marginal rate of technical substitution​ (MRTS) of labor for capital along a convex isoquant A. declines as more and more labor is used. B. equals the negative of the slope of the isoquant. C. equals the marginal product of labor divided by the marginal product of capital. D. All of the above are correct. E. Only answers A and B are correct.

Answers

Answer: D. All of the above are correct.

Explanation:

The marginal rate of technical substitution (MRTS) refers to the economic theory which explains the rate at which a particular factor of production must reduce in order for the same level of productivity to be maintained when there's another production factor which is increased.

When the capital is plotted on the vertical axis and labor is plotted along the horizontal​ axis, then the marginal rate of technical substitution​ of labor for capital along a convex isoquant will reduce as more and more labor is used. Also, the MRTS equals the negative of the slope of the isoquant and equals the marginal product of labor divided by the marginal product of capital that's MRTSL,K=-MPL/MPK

Therefore, the correct option is All of the above.

The demand for aloe vera hand lotion, one of numerous products manufactured by Smooth Skin Care Products Inc., has dropped sharply because of recent competition from a similar product. The company's chemists are currently completing tests of various new formulas, and it is anticipated that the manufacture of a superior product can be started on December 1, one month in the future. No changes will be needed in the present production facilities to manufacture the new product because only the mixture of the various materials will be changed.

The controller has been asked by the president of the company for advice on whether to continue production during November or to suspend the manufacture of aloe vera hand lotion until December 1. The controller has assembled the following pertinent data:

Sales (400,000 units) $32,000,000
Cost of goods sold 28,330,000
Gross profit $3,670,000
Selling and administrative expenses 4,270,000
Loss from operations ($600,000)

The production costs and selling and administrative expenses, based on production of 400,000 units in October, are as follows:

Direct materials $15per unit
Direct labor 17per unit
Variable manufacturing cost 35per unit
Variable selling and administrative expenses 10 per unit
Fixed manufacturing cost $1,530,000 for October
Fixed selling and administrative expenses 270,000 for October

Sales for November are expected to drop about 20% below those of the preceding month. No significant changes are anticipated in the fixed costs or variable costs per unit. No extra costs will be incurred in discontinuing operations in the portion of the plant associated with aloe vera hand lotion. The inventory of aloe vera hand lotion at the beginning and end of November is expected to be inconsequential.

Required:
Prepare an estimated income statement in absorption costing form for November for aloe vera hand lotion, assuming that production continues during the month.

Answers

Answer:

Estimated loss from operations for aloe vera hand lotion in November = -$534,000.

Explanation:

The following calculations are done first:

Direct materials per unit = $15

Direct labor per unit = $17

Variable manufacturing cost per unit = $35

Fixed manufacturing cost per unit = Fixed manufacturing cost for October / Number of units in October = $1,530,000 / 400,000 = $3.825

Cost of goods sold per unit = Product cost per unit = Direct materials per unit + Direct labor per unit + Variable manufacturing cost per unit + Fixed manufacturing cost per unit = $15 + $17 + $35 + $3.825 = $70.825

Also, we have:

Expected sales in unit for November = Sales in unit for October * (100% - Expected percentage drop in sales) = 400,000 * (100% - 20%) = 320,00 units

Selling price per unit = Sales in October / Units sold in October = $32,000,000 / 400,000 = $80

Variable selling and administrative expenses per unit = $10

Fixed selling and administrative expenses for October = $270,000

Based on the above calculations, an estimated income statement in absorption costing form for November for aloe vera hand lotion can be prepared as follows:

                     Smooth Skin Care Products Inc.

     Estimated Income Statement for Aloe Vera Hand Lotion

                             (Absorption Costing)

                                   For November

Particulars                                                                $            

Sales Revenue ($80 * 320,000)                     25,600,000

Cost of good sold ($70.825 * 320,000)        (22,664,000)

Gross profit                                                        2,936,000

Selling and administrative expenses:

        Variable ($10 * 320,000)                         (3,200,000)

         Fixed                                                         (270,000)  

Loss from operations                                       (534,000)  

Therefore, we have:

Estimated loss from operations for aloe vera hand lotion in November = -$534,000

8. In the short run, there is a negative relationship between inflation and employment. A: True B. False​

Answers

Answer: False

In the short-run, inflation and unemployment are inversely related; as one quantity increases, the other decreases. In the long-run, there is no trade-off. In the 1960's, economists believed that the short-run Phillips curve was stable.

Explanation:

https://courses.lumenlearning.com/boundless-economics/chapter/the-relationship-between-inflation-and-unemployment/

A company designs a training program for underperforming employees. They enroll in the program the employees who received the worst 10% of performance evaluations in a given year. They find that very few of the employees who go through the program are in the bottom 10% of performance evaluations the next year. What can they conclude about their new program

Answers

Answer:

They can conclude that the program was a success

Explanation:

They can conclude that the program was a success. The main goal of the program is to increase the performance of the employees that were performing the worst in the company. By choosing the bottom 10% of the performance evaluation, they make sure that they are getting the worst of the worst in the company. Therefore, if after the program, the subjects are no longer in the bottom 10% then this means that they have drastically increased their performance and have even passed those that were in a much higher performance ranking than them in the previous year. This means that the program exceeded its goal and can be marked as successful.

First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually. If you made a deposit of $17,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Wowing I just got home from church I toeow go get home now I got home I

MC Qu. 117 Cosi Company uses a job order costing... Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incur $830,000 of overhead during the next period, and expects to use 53,000 labor hours at a cost of $10.00 per hour. What is Cosi Company's overhead application rate

Answers

Answer:

157%

Explanation:

Calculation to determine Cosi Company's overhead application rate

First step is to calculate Total DL Cost

Total DL Cost = 53,000 hours * $10/hr

Total DL Cost= $530,000

Now let determine the overhead application rate

OH rate = $830,000/$530,000*100

OH rate= 157%

Therefore Cosi Company's overhead application rate is 157%

A newscaster earns $26600 and wants to invest 10% of his/her monthly salary to save for retirement in 28 years. if he/she invests this money at 4.2% compounded monthly, how much money will he/she have at retirement?
a) How much will be saved each year?
b) What will be the monthly deposit?
c) What will be the amount in the account after 28 years?

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Annual salary= $26,600

Number of periods= 28*12= 336

Interest rate= 0.042/12= 0.0035

First, we need to calculate the annual savings:

Annual saving= 26,600*0.1= $2,660

Now, the monthly deposit:

Monthly deposit= 2,660/12= $221.67

Finally, the future value of the investment:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

FV= {221.67*[(1.0035^336) - 1]} / 0.0035

FV= $141,535.3

The Caldwell Herald newspaper reported the following story: Frank Ormsby of Caldwell is the state’s newest millionaire. By choosing the six winning numbers on last week’s state lottery, Mr. Ormsby won the week’s grand prize totaling $1.38 million. The State Lottery Commission indicated that Mr. Ormsby will receive his prize in 20 annual installments of $69,000 each. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: 1. If Mr. Ormsby can invest money at a 11% rate of return, what is the present value of his winnings?

Answers

Answer:

the  present value of his winning is $549,447

Explanation:

The computation of the present value of his winning is shown below:

= Annual installment × PVIFA factor at 20 years for 11%

= $69,000 × 7.963

= $549,447

Hence, the  present value of his winning is $549,447

The same should be considered and relevant

Stock Rit Rmt ai Beta
A 10.6 15     0 0.8
Z  9.8 8 0 1.1

Rit = return for stock i during period t
Rmt = return for the aggregate market during period t

What is the abnormal rate of return for Stock Z during period t using only the aggregate market return (ignore differential systematic risk)?

a. 3.40
b. 4.40
c. 1.80
d. -4.40

E.
-1.70

Answers

Answer:

1.8 option c

Explanation:

this question has a very simple solution

the following definitions

Rit = return for stock i during period t

Rmt = return for the aggregate market during period t

The abnormal rate of return for stock z is = Rit - Rmt

Rit = 9.8

Rmt = 8

9.8 - 8 = 1.8

therefore the abnormal rte of return for stock z is = 1.8, which is option c

A firm that operates outside of a trading bloc will likely face the improved position of competitors within the trading bloc. True False

Answers

Answer:

True

Explanation:

In the case when the firm operated outside for a trading bloc due to which it improved the position of the competitors so this should be true as the trading bloc should be the economic integration and it can shape the pattern of thw world trade that protect from non-members imports

So, the given statement is true

The beginning inventory of BG Action Figures is understated by $7 million at December 31, 20x8. What is the effect on 20x8 cost of goods sold? Group of answer choices $7 million overstated $7 million understated no effect none of the above

Answers

Answer:

$7million understated

Explanation:

Based on the information given the effect on 20x8 COST OF GOODS SOLD will be UNDERSTATED by $7 million reasons been that since the OPENING INVENTORY IS UNDERSTATED by $7 million which means that the COST OF GOODS SOLD will as well be UNDERSTATED by the same amount based on the fact that opening inventory adds to Cost of goods sold.

A local distributor for a national tire company expects to sell approximately 9,530 tires of a certain size and tread design next year. Annual carrying cost is $14 per tire and ordering cost is $72. The distributor operates 286 days a year. a. What is the EOQ

Answers

Answer:

the economic order quantity is 313 units

Explanation:

The computation of the economic order quantity is shown below:

= sqrt( 2 ×annual demand × ordering cost)  (carrying cost)

= sqrt(2 × 95,30 × $72) ÷ $14

= 313 units

hence, the economic order quantity is 313 units

The same should be considered and relevant

An asset has an average return of 5 percent and a standard deviation of 10 percent. Which of the following statements is true?
a. its variance is 25,
b. its coefficient of variation is 2.0
c. if returns are normally distributed, 95 percent of the time its returns will fall between -5 percent and 15 percent
d. if returns are normally distributed, 99 percent of the time its returns will fall between -15 percent and 25 percent.

Answers

Answer: b. its coefficient of variation is 2.0

Explanation:

The Coefficient of Variation, given the above data, is calculated by the formula:

= Standard Deviation/ Mean

= 10% / 5%

= 2.0

Option B is therefore correct.

Delta Screen Corporation is currently operating at 60% of capacity and producing 6,000 screens annually. The normal selling price is $750 per screen. They recently received an offer from a company in Germany to purchase 2,000 screens for $500 per unit. Delta has not previously sold products in Germany. Budgeted production costs for 6,000 and 8,000 screens follow:Units Produced 6,000 8,000 Direct Materials Cost $ 750,000 $ 1,000,000Direct Labor Cost 750,000 1,000,000Variable Overhead 900,000 1,200,000 Fixed Overhead 1,200,000 1,200,00 Total Cost 3,600,000 4,400,000Full Cost per Unit 600 550Delta’s marketing manager believes that although the price offered by the German customer is lower than current price, the order should be accepted to gain a foothold in the German market. The production manager, however, believes that the order should be rejected because the unit cost is higher than the price offered.If the president of Delta were to call on you to resolve the difference in opinion, what would you recommend? Explain.What is the minimum price for the special order if Delta is operating at full capacity?

Answers

Answer:

a. I would recommend the the special order should be accepted.

b. The minimum price for the special order is the current selling price of $750.

Explanation:

a. If the president of Delta were to call on you to resolve the difference in opinion, what would you recommend?

Because the existing data's format and findings are deceiving, I would suggest to the president to let us perform a differential analysis before making a recommendation.

Note: See the attached excel file for a analysis of accepting the order.

In the attached excel file, the following calculation is done:

Special order revenue = Difference revenue = Units of special order * Special order price per unit = 2,000 * $500 = $1,000,000

Revenue with the special order = Revenue without the special order + Special order revenue = $4,500,000 + $1,000,000 = $4,500,000

From the differential analysis in the attached excel, it can be observed that accepting the order will increase profit by $200,000.

Therefore, I would recommend the the special order should be accepted.

b. What is the minimum price for the special order if Delta is operating at full capacity?

Since other sales opportunities has be forgone if the special order is accepted if Delta is operating at full capacity, the minimum price for the special order must be or is the current selling price of $750.

When an organization assigns a new employee a mentor and takes an employee out to lunch to meet other members of the organization during their first week on the job, this would most strongly be an example of:

Answers

Answer:

Connection.

Explanation:

An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.

Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).

Generally, when a new employee working for an organization is assigned a mentor and given the opportunity to go out on a lunch to meet other members working in the organization during their first week on the job, this would most strongly be an example of connection.

Connection simply means creating a favorable and mutually beneficial meetings between two or more individuals such as the employees working in an organization. Thus, it avails the employees the opportunity to socialize and know each other better while stimulating a good work relationship.

A TV manufacturing company uses speakers at the rate of 8000/mo. When it places an order for speakers it incurs a fixed cost of $1200. The monthly interest rate for keeping a speaker in stock is assessed at 1%/mo. The cost of the speaker depends on the order size. If less than 1000 speakers are ordered the cost is $11 each. When the order size is between 1000 and 10,000 the cost is $10.50/unit. For order sizes between 10,000 and 30,000 the cost is $10 per unit. For order quantities between 30,000 and 80,000 the cost drops to $9.50. Beyond 80,000 the cost is $9.25. Determine the optimum order size and time between orders if shortages are not allowed.
Please use excel to solve this problem. Show all cell formulas and parameters used.

Answers

Solution :

1. Ordering quantity         500      1000      10000     30000        80000

2. No. of orders                 16          8             0.8         0.27            0.1

3. Average inventory        250      500       5000      15000        40000

4. Value of average         2750    5250      50000  142500      370000

   inventory

5. Monthly total cost

a). Cost of material        88000   84000    80000   760000     740000

b). Ordering cost           19200      9600       960          320           120

c). Carrying cost                27.5       52.5       500        1425         3700

Total monthly cost        107227.5 93652.5  81460   77745       77820

Among the total monthly cost, $ 77,745 is the least cost.

Therefore, the optimum order size of quantity = 30,000

The number of orders per month = 8000/30000 = 0.267

Time between two consecutive orders = 30000/8000 = 3.75 months

     

Culver Company has budgeted the following unit sales: 2022 2023 Quarter Units Quarter Units 1 108,000 1 94,000 2 63,000 3 73,000 4 118,000 The finished goods inventory on hand on December 31, 2021 was 21,600 units. It is the company's policy to maintain a finished goods inventory at the end of each quarter equal to 20% of the next quarter's anticipated sales. Prepare a production budget for 2022.

Answers

Answer:

Culver Company

Production Budget for 2022:

                                Quarter 1     Quarter 2   Quarter 3  Quarter 4    Total

Unit sales                   108,000      63,000        73,000     118,000    362,000

Ending inventory        12,600        14,600        23,600      18,800        18,800

Total units available 120,600       77,600        96,600    136,800    380,800

Beginning inventory   21,600       12,600         14,600     23,600       21,600

Production units        99,000      65,000        82,000     113,200    359,200

Explanation:

a) Data and Calculations:

 2022                   2023

Quarter Units    Quarter Units

1 108,000             1 94,000

2 63,000

3 73,000

4 118,000

                            Quarter 1     Quarter 2   Quarter 3  Quarter 4   Quarter 1

Unit sales                 108,000    63,000        73,000     118,000       94,000

Beginning inventory 21,600      12,600        14,600      23,600        18,800

Ending inventory      12,600      14,600        23,600      18,800

Production Budget for 2022:

                                Quarter 1     Quarter 2   Quarter 3  Quarter 4    Total

Unit sales                   108,000      63,000        73,000     118,000    362,000

Ending inventory        12,600        14,600        23,600      18,800        18,800

Total units available 120,600       77,600        96,600    136,800    380,800

Beginning inventory   21,600       12,600         14,600     23,600       21,600

Production units        99,000      65,000        82,000     113,200    359,200

If the demand for a product was 16, 28, 20 and 24 units in four consecutive months, and the corresponding forecasts in those four months were 20, 16, 20 and 30 units respectively, what is the MAD at the end of four months

Answers

Answer:

5.5 units

Explanation:

Period   Actual     Forecast   Absolute deviation

   1            16              20                     4

  2            28              16                    12  

  3            20              20                    0

  4            24              30                    6

Total                                                   22

Mean absolute deviation(MAD) = Sum of absolute deviation / Number of periods

Mean absolute deviation(MAD) = 22 / 4

Mean absolute deviation(MAD) = 5.5 units

George Washington Carver developed new

A.military strategies
B. web 2.0 products
C. agricultural innovations
D. long-distance communication

Answers

I think the answer is C !!!!! I’m not 100% sure though

George Washington Carver developed new agricultural innovations. Thus, the correct answer is option (C).

Who was George Washington Carver?

George Washington Carver was an American agricultural scientist and inventor who advocated for non-cotton crops and ways to avoid soil depletion. He was a famous black scientist in the early twentieth century.

Carver created an agriculture extension in Alabama as well as an industrial research lab, where he worked tirelessly on the development of hundreds of novel plant applications. Carver created his crop rotation technique at Tuskegee, which alternated nitrate-producing legumes like peanuts and maize with cotton, which depletes the soil of nutrients. His innovations are attributed with ensuring the South's economic survival in the early twentieth century.

Therefore, George Washington Carver is considered to have made large contributions in agricultural innovations.

To learn more on George Washington Carver, click here:

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Aug. 1 Madison Harris, the owner, invested $10,250 cash and $44,075 of photography equipment in the company.
2 The company paid $3,900 cash for an insurance policy covering the next 24 months.
5 The company purchased office supplies for $1,948 cash.
20 The company received $3,050 cash in photography fees earned.
31 The company paid $866 cash for August utilities.
Prepare general journal entries for the above transactions.

Answers

Answer and Explanation:

The journal entries are shown below:

(i) On August 1,

Cash A/c Dr. $10,250

photography equipment A/c Dr. $44,075  

              To common stock   $54,325

(Being the issuance of common stock for cash and photography equipment is recorded)

(ii) On August 2,

Prepaid insurance A/c Dr. $3,900

           To cash $3,900

(Being the cash paid in advance for insurance is recorded)

(iii) On August 5,

Office supplies A/c Dr. $1,948

           To cash                       $1,948

(Being the cash paid for office supplies is recorded)

(iv) On August 20,

Cash A/c Dr. $3,050

     To photography fees earned $3,050

(Being the photography fees earned is recorded)

(v) On August 31,

Utilities A/c Dr. $866

      To cash A/c    $866

(Being the cash paid for utilities)

2. In what ways does the division between value creation and value delivery help clarify the process of refining the business model

Answers

Answer:

Value creation refers to the process of creating a company value based on the demands of the consumer and their willingness to use the value. The action of drifting wealth in a value networks is essential to the idea of shared value.

In other words, The way you create your goods such that they provide the most value to the customers who use them is called value delivery. Customers can receive worth in the shape of goods, perks, and characteristics, among other things. Anything that adds worth to the consumer 's experience should be included in the value ordering process.

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