The following principles of accounting play a role in preparing a budget:
Revenue Recognition Principle ,Matching Principle , Historical Cost Principle and Conservatism Principle.
Revenue Recognition Principle: This principle states that revenue should be recognized in the accounting records when it is earned, regardless of when payment is received. In budgeting, this principle is applied by projecting when revenue will be earned and recognized in the budget, which helps in making accurate revenue forecasts.
Matching Principle: This principle requires that expenses be matched with the revenues they generate. In budgeting, this principle is applied by aligning expenses with the expected revenues for each period to ensure that costs are effectively matched with the revenue they help to generate.
Historical Cost Principle: This principle states that transactions should be recorded at the cost incurred at the time of the transaction. In budgeting, this principle is applied by using historical costs as a starting point to estimate future costs, which helps in creating a more accurate budget.
Conservatism Principle: This principle states that uncertain or unclear events should be anticipated and recorded in a manner that will minimize any potential losses. In budgeting, this principle is applied by using conservative estimates and assuming the worst-case scenario when forecasting expenses and revenues, which helps in ensuring.
"explain how the following principles of accounting are applied in the context of preparing budget :
Revenue Recognition Principle
Matching Principle
Historical Cost Principle
Conservatism Principle"
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if the marginal utility line is above the horizontal axis, this means that:
If the marginal utility line is above the horizontal axis, it means that the consumer is receiving positive marginal utility from consuming an additional unit of the good.
Marginal utility refers to the additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service. If the marginal utility line is above the horizontal axis, it indicates that the consumer's satisfaction is increasing as they consume more of the good, and they are willing to pay more for each additional unit of the good.
Conversely, if the marginal utility line is below the horizontal axis, it means that the consumer is receiving negative marginal utility from consuming an additional unit of the good, indicating that their satisfaction is decreasing as they consume more of the good, and they are less willing to pay for each additional unit.
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What amount of dividends didAlan Sanders declare during the year ended July 31, 2021? (Hint: Prepare a statement of retained earnings)
To calculate the amount of dividends declared during the year ended July 31, 2021, you would need to prepare a statement of retained earnings.
This statement shows the changes in a company's retained earnings over a specified period of time, and is used to track the company's earnings, dividends paid, and other related information.
To prepare the statement of retained earnings, you would first need to gather all relevant financial information, including the company's balance sheet and income statement for the year ended July 31, 2021. You would then subtract the company's dividend payments from the net income reported on the income statement to determine the amount of retained earnings. Next, you would add any opening retained earnings to the amount of retained earnings calculated in the previous step to determine the total retained earnings for the year ended July 31, 2021. Finally, you would subtract the closing retained earnings balance from the total retained earnings to determine the amount of dividends declared during the year ended July 31, 2021.
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is the current year return on assets better than the 10% return of competitors for apple?
Yes, Apple's current year Return on Assets of 16.28% is superior to its competitors ' 10% return.
Return on assets is a metric that expresses how profitable a business is in relation to its total assets. ROA can be used by management, analysts, and investors to evaluate how well a business uses its resources to turn a profit. You may calculate a company's ROA by dividing its net income by all of its assets. It is wise to compare the ROA of companies in the same industry since they would all have the same assets. The far more productive and effective management is in exploiting economic resources, the better the return. The ROA formula and computation are broken down here.
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when gdp goes down, what indicator goes up?
When GDP falls, the unemployment rate usually rises. This is because when GDP falls, businesses often need to reduce their workforce to reduce costs.
As a result, people are laid off and unable to find work, leading to increased unemployment. This can be seen in the economic recession of 2008, when GDP fell by 4.3% and the unemployment rate subsequently rose to 10%. Moreover, inflation tends to rise when GDP falls. This is because when production falls and demand for goods increases, prices can rise to cover costs. This can lead to a higher cost of living and can put pressure on the economy.
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Suppose that each worker in the Home country can produce three cars or two TVs. Assume that Home has four workers.a. Graph the production possibilities frontier for the Home country.b. What is the no-trade relative price of cars at Home?
The no-trade relative price of cars at Home is [tex]\frac{P_{C} }{P_{TV}}=\frac{2}{3}[/tex]
The no-trade relative pricing is the same as its opportunity cost of production. The no-trade theorem in financial economics asserts that markets are in an efficient equilibrium if. There are no erratic traders or other pricing interferences. The method by which traders or potential traders obtain information is already well-known. A no-trade clause is a clause in a contract that gives players the right to block transactions to specific teams. No-trade clauses are frequently incorporated as a benefit for players signing contract renewals and free-agent agreements. An agreement to reduce import and export duties between two or more countries is known as a free trade agreement.
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economies of scale imply that within some range one can increase the size of operation and: a. average variable cost will decrease. b. average total cost will increase. c. total cost will decrease. d. fixed cost will decrease. e. average total cost will decrease.
Economies of scale imply that within some range, one can increase the size of an operation and the average total cost will decrease. Here option C is the correct answer.
This occurs because as the scale of production increases, there are opportunities to spread out fixed costs over a larger volume of output, which results in a decrease in the average total cost. This decrease in average total cost is due to the economies of scale.
Economies of scale refer to the reduction in average cost per unit of production as the scale of production increases. The reduction in average cost occurs because as the scale of production increases, there are opportunities to take advantage of various types of economies that lower production costs.
For example, when a company increases its scale of production, it may be able to negotiate lower prices for raw materials, take advantage of more efficient production processes, or spread out fixed costs over a larger volume of output.
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what factors will likely determine how much money alma receives each month?
In other words, Alma will likely receive more when she retires the longer she stays with that particular company.
The employer is required to make regular contributions to a fund set aside to pay qualified employees after they retire as part of an employee benefit known as a pension plan. Typically, pension plans can be classified as either defined benefit or defined contribution programmes. A defined benefit plan guarantees a certain monthly payment for the duration of the plan (or a lump sum payment on retiring). A defined contribution plan creates an investment account, which grows over the length of the employee's employment. The remaining amount will be available to the employee after retirement.
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what interest rate is required for an investment with continuously compounded interest to double in 8 years
An interest rate of 8.66% is required for an investment with continuously compounded interest to double in 8 years.
What is interest rate?The amount that a lender charges a borrower for the usage of money, expressed as a percentage of the principal loan amount, is known as an interest rate. It is simply a cost involved with taking loans, and the lender will pay more for a loan if the rate of interest is higher.
Actual and nominal interest rates are the two main categories. In order to determine how much interest will be charged on a loan, lenders will provide lending rates. Short - term interest rates, on the other hand, are used to calculate the actual cost of a loan because they are nominal interest rates that have been corrected for inflation.
The interest rate required for an investment to double in 8 years with continuously compounded interest can be calculated using the formula:
r = ln(2) / t
where r is the interest rate, ln is the natural logarithm function, and t is the time in years.
So, for t = 8 years, we have:
r = ln(2) / 8
r = 0.0866 or approximately 8.66%
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Openings around pipes that enter an operation from outside should be?
High stress is produced when a large force is applied to a small area, and low stress is produced when a large force is applied to a small area.
The device's discharge needs to be routed to the atmosphere outdoors. A measure of how much force is present in a certain area is called pressure. High stress is produced when a large force is applied to a small area, and low stress is produced when a large force is applied to a small area. By holding a knife against a piece of fruit, one can see a simple example of stress It might not cut the surface if you press the flat section of the knife against the fruit. The force is dispersed across a vast area (low strain). In the global system of electronics, the unit of stress or pressure is the pascal (Pa) (SI).
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corporate retreats do not multiple choice guarantee positive consumer response to new products. permit companies to discuss larger marketplace trends. give companies an opportunity to look beyond their own industries. oblige management to evaluate assumptions.
Corporate retreats do not guarantee that new products will be well received by consumers.
What is corporate retreat?A company retreat provides an opportunity for team members to get away from the office and their usual responsibilities. It could include learning opportunities, team-building activities, informal socializing time, or collaborative work. A retreat could be for a small group or for the entire company.Retreats can help leadership teams motivate their hardworking employees. They not only serve as a fantastic perk, but they also provide team members with valuable face time within the organization as well as the opportunity to network with coworkers they may not interact with much online.Since 2011, my company has held quarterly retreats and has identified four critical elements to a successful retreat: learning, sharing, bonding, and unifying. Company retreats are a powerful tool for increasing profits.To learn more about corporate retreat refer to :
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the arrangement of units side by side with guide and element leaders at the head is known as .
Units are arranged in columns, with the element and guide leaders at the head of each column.
We call it the "column method" when we arrange the numbers, shapes, or items one on top of the other. In other terms, the column method is a mathematical technique where the numbers to be multiplied, divided, or added are arranged in columns above one another.
The column method is a mathematical computation technique where the numbers that need to be added or subtracted are arranged in columns above one another. When students first begin working with rising numbers, they are first taught the methods of column addition and column subtraction.
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recognizing depreciation on manufacturing assets results in which of the following? assume the company has not sold the inventory yet (select all that apply.) multiple select question. no effect on net income. increases net income. decreases total assets. no effect on total assets. increases total assets. decreases net income.
Answer:
decreases total assets, decreases net income.
in 1972 the maximum earnings of a worker subject to social security tax (sst) was $9,000. the maximum earnings subject to sst in 2016 is $118,500. what compound annual increase has been experienced over this 44-year period of time? how does it compare with a 3% annual increase in the consumer price index over the same period of time?
The compound annual increase that has been experienced over this 44-year period of time is 0.066 or 6.6% per year.
The compound annual increase in the maximum earnings subject to SST was 6.6% per year, which is higher than the 3% annual increase in the Consumer Price Index
What is compound annual increase?The compound annual increase is described as a business and investing specific term for the geometric progression ratio that provides a constant rate of return over the time period.
The compound annual increase in the maximum earnings subject to SST over the 44-year period can be calculated as follows:
CAGR = (Ending value / Beginning value)^(1/n) - 1,
CAGR = ($118,500 / $9,000)^(1/44) - 1 = 0.066 or 6.6% per year.
In the same 44-year period, a 3% annual increase in the Consumer Price Index would result in a cumulative increase of (1 + 0.03)^44 = 3.53 times.
Therefore, the compound annual increase in the maximum earnings subject to SST was 6.6% per year, which is found higher than the 3% annual increase in the Consumer Price Index.
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what are the mechanics of taking markdowns?
The term "markdowns" refers to a reduction in the original price of a product, typically for clearance or promotional purposes. In retail, markdowns are a common tool for managing inventory and maximizing sales.
When taking markdowns, the mechanics involve several steps. First, retailers must determine the reason for the markdown, such as slow sales or overstocked inventory. Next, they must choose the appropriate timing and amount of the markdown.
Once the timing and amount of the markdown have been determined, the retailer must communicate the new price to customers. This can be done through various methods such as signs, posters, or sales promotions. Retailers must also keep track of the markdown information, such as the original price, new price, and dates of the markdown.
It is important to note that the mechanics of taking markdowns can vary depending on the retailer and the type of product being marked down. However, the goal is always to sell the product at a profit, either by selling it at the new, lower price or by reducing the amount of inventory that needs to be carried.
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licensee audrey was convicted of an antitrust violation. what is the maximum prison sentence she can serve?
The maximum prison sentence she can serve is 10 years. Thus the correct option is A.
What is an antitrust violation?An antitrust law guards against unethical business activities including price-fixing, restrictions, price discrimination, and monopolization—if broken, there is an antitrust infringement.
In addition to up to 10 years in jail, the Sherman Act imposes criminal penalties of up to $100 million for corporations and $1 million for individuals.
Any corporation that dominates inside the state the sale of 50% of an item is prohibited from increasing or decreasing the price of that item with the goal to harm a competitor under 1907 antitrust legislation.
Therefore, option A is appropriate.
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The complete question is Probably
Licensee Audrey was convicted of an antitrust violation. What is the maximum prison sentence she can serve?
10 years
Five years
No prison time
Two years
benito has worked hard and is offered a salaried position with the same company. he is offered $40,000 but will be expected to work 48 hours per week with no overtime pay. how much would he be paid per year if he remained in his present job and worked 48 hours per week but was paid for the overtime? (benito makes $14.15 an hour.)
He would be paid per year $525 gross pay if he remained in his present job and worked 48 hours per week but was paid for the overtime.
70 hours (paid at $7.50 per hour) multiplied by 2 of the 35-hour workweeks is 525.
Overtime is defined as additional time worked beyond a worker's regular contracted hours. For instance, if an employee has a contract for 8 hours of labor each day and puts in 9, that counts as 1 hour of overtime.
Basic salary is the agreed-upon amount of pay between an employer and employee; it excludes overtime or any other additional compensation. However, gross salary is the amount received before any taxes or other deductions and includes bonuses and overtime pay.
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in recent years, bottling companies in florida and elsewhere have made people conscious of a fundamental issue in water rights, namely:
In recent years, bottling companies in Florida and elsewhere have made people conscious of a fundamental issue in water rights, namely who has the right to use water.
The ecosystem of Florida depends heavily on water, which also supports fauna. Along with Florida's population growth, water usage is also rising. Florida residents rely on freshwater reserves found below to meet a variety of water demands. This subsurface freshwater resource in some parts of Florida is no longer sufficient to meet the state's expanding water needs while simultaneously supplying its rivers, springs, and lakes.
Urban planners and decision-makers are now paying more attention to how much water is consumed and how to manage water resources as a result of the state's drought and water problems. Public opinion polls in Florida indicate that the majority of Floridians consider water to be a problem of the utmost significance for the state.
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List five reasons why preserving the environment should be a permanent part of doing business. Do you agree with all of them? Explain your rationale.
There are many reasons why preserving the environment should be a permanent part of doing business, including: Protecting the planet for future generations ,Maintaining healthy ecosystems and biodiversity , Minimizing the impacts of business activities on the environment , Meeting legal and regulatory requirements ,Improving corporate image and reputation.
However, I can say that these reasons reflect the growing understanding that businesses have a responsibility to operate in a sustainable and environmentally responsible manner.
Companies that ignore their environmental impact risk facing penalties, legal action, and reputational damage, as well as missing out on the benefits of sustainable business practices, such as cost savings, innovation, and improved customer loyalty.
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kroger grocery stores collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data to better serve its customers. this refers to
Kroger grocery stores collects massive amounts of data about how, when, why, where, and what people buy, and then analyzes those data. it is the example of marketing analytics. The function of marketing analytics is to improve and increase the market of product and services.
In economic and business, Marketing analytics generally can be defined as the study of data to evaluate the performance of a marketing activity. By applying technology and analytical processes to marketing-related data, businesses can understand what drives consumer actions, refine their marketing campaigns and optimize their return on investment. Marketing analytics is one of the type of marketing strategy. The function of marketing analytics is to improve and increase the market of product and services.
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what type of agency cannot be revoked by the principal, nor is terminated if the principal dies?
If the person with the reproduction rights, or someone with his permission, sells or distributes copies of the work, or a translation of it, in the same language
Sixth, in line with Section 62(f), the license is deemed to be cancelled whenever the original intent behind its issuance has been fulfilled, abandoned, or is no longer conceivable. What does license cancellation mean? 1) The owner of the copyright in the work or any authorized person may publish a translation of the licenced work in the same language and with substantially the same content at a price reasonably related to the price typically charged in India for the licenced work at any time after the licence to translate and publish the translation of the licenced work under subsection (1-A) of section 32 (hereafter in this subsection referred to as the licenced work).
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a reason why an increase in the price level decreases the quantity of real gdp demanded is that
A rise in the price level reduces the quantity of real GDP demanded because it reduces the purchasing power of households and businesses. In other words, a rise in the price level increases the cost of goods and services, which makes the purchase of goods and services more expensive.
This leads to households and businesses reducing the amount of goods and services they buy because they have less money to spend. As a result, the quantity of real GDP demanded decreases. This phenomenon is known as the "substitution effect" of inflation, as households and businesses substitute expensive goods and services for cheaper ones.
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what must marketers understand about their competition?
To succeed, marketers need to understand the competitive landscape of their industry and the strategies of their competitors. This means knowing the products, services and prices your competitors offer and understanding the strategies they use to target their customers.
Marketers should also be aware of their competitors' strengths and weaknesses, as well as their marketing tactics, in order to effectively create and execute their own strategies. In addition, marketers must monitor their competitors regularly to keep abreast of the current competitive landscape. This can be done through online research or attending industry events and conferences. All in all, understanding the competition is essential for marketers to be successful.
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an increase in the nation's overall price level is: group of answer choices long-term economic growth. unemployment. inflation. deflation.
Inflation is the rise in the country's overall price level.
What is the cause of the country's general price level increase?The rate of price growth over an extended period of time is known as inflation. The cost of living in a nation has increased, or prices have generally increased. These are examples of broad measures of inflation.
Test your knowledge of what happens when prices rise.The demand for money will increase as the price level rises, which will also raise interest rates and reduce expenditure on consumption and investments. The true value of many financial assets will fall with an increase in price, which will result in less spending.
Quizlet: When is the economy's general price level increasing?Economists refer to an economy as being in an inflationary period when the level of prices in the economy as a whole is rising.
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three women are pregnant with one child each. what are the possible outcomes
There are a total of 2 x 2 x 2 = 8 possible combinations of outcomes for the three pregnancies. Therefore, the probability of all possible outcomes will be 1/8
There are several possible outcomes for each pregnancy, as the sex of the child is not determined until birth. The probability for each pregnancy:
The first pregnancy can result in a male or female child.
The second pregnancy can also result in a male or female child.
The third pregnancy can also result in a male or female child.
So, there are a total of 2 x 2 x 2 = 8 possible combinations of outcomes for the three pregnancies. These outcomes could be three male children, three female children, or any combination of male and female children (such as two male children and one female child).
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analyze the connection between the price elasticity of the demand function to the consumer model. in other words, explain how the consumer model might explain the level of price elasticity on the demand function.
The consumer model helps explain the level of price elasticity of demand by considering factors such as substitutes, proportion of income spent, and necessity. Substitutes increase price elasticity, while necessity decreases it.
Understanding these factors allows us to determine how responsive consumers are to price changes, indicated by the price elasticity of demand. This information can inform pricing strategies and production levels for businesses.
Price elasticity of demand is a measure of the responsiveness of the quantity demanded of a good to changes in its price. It represents the percentage change in quantity demanded in response to a 1% change in price. A good with a high price elasticity of demand will see a significant decrease in quantity demanded when its price increases, while a good with a low-price elasticity of demand will see only a small decrease in quantity demanded with the same price increase.
The price elasticity of demand can be elastic, inelastic, or unitary. Elastic demand method that the proportion change in quantity demanded is more than the percentage exchange in charge. Inelastic demand means that the percentage change in quantity demanded is less than the percentage change in price. Unitary call for approach that the percentage exchange in amount demanded is identical to the share trade in charge.
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When the government runs a budget surplus, it uses the funds to:
pay down outstanding debt
A budget surplus occurs when the government collects more revenue than it spends. When this happens, the government typically uses the surplus funds to pay down outstanding debt.
This debt can include money owed to other countries, money owed to other branches of government, or money owed to the public. Paying down the debt can help free up more money for other uses, such as investing in infrastructure, paying for social services, or providing tax relief.
Additionally, reducing the amount of debt owed can help ensure the government's long-term fiscal health. Reducing the debt can help the government manage its budget more effectively, as it reduces the amount of interest payments it must make to service the debt. This can also help the government maintain a low rate of inflation, and help avoid a situation where the government is unable to pay its bills.
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apple, the consumer electronics giant, on tuesday rolled out new versions of its popular iphone. the ceo decided to decrease the price of iphones in an attempt to increase total revenue from iphone sales. one of his employees, jess, disagrees and suggests that an iphone price increase will increase total revenue. who is correct?
It is difficult to determine who is correct without considering various factors such as market demand, competition, and the target market. The impact of a price change on revenue ultimately depends on the interplay of these factors.
Have past price changes had a positive or negative impact on iPhone sales and revenue, and what lessons can be learned from this history?Beyond price modifications have had both positive and terrible influences on iPhone income and sales. In the past, whilst Apple extended the rate of its iPhone, the enterprise saw a decrease in sales volume, however an boom in revenue because of higher profit margins. But, whilst Apple decreased the fee of its iPhone, the employer saw an growth in sales extent, however a lower in earnings margins. The important thing lesson that can be found out from this history is that the effect of charge changes on iPhone income and revenue is complicated and relies upon on numerous elements which includes market demand, opposition, and customer perception of fee. Ultimately, it's miles vital for the business enterprise to carefully remember the potential affects of any rate adjustments earlier than you make a decision.
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a leader who struggles to get her team to complete complex tasks in a timely manner is mostly likely experiencing which type of environmental influence?
A leader who struggles to get her team to complete complex tasks in a timely manner is mostly likely experiencing situational environment influence.
Situational leadership is a management approach where a leader changes how they interact with their team members depending on the environment and demands of the job at hand. The situational environment is made up of a variety of individual characteristics and environmental elements that collectively form the circumstances in which managers are placed. The difficulty for managers is that each time they enter the field, they frequently deal with unique circumstances.
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Which adverse external development factor is exemplified by a competitor that introduces a more advanced product that adversely affects the financial position of a borrowing business? A. Technological factors B. Regulatory factors C. Environmental factors D. Economic factors
The adverse external development factor exemplified by a competitor introducing a more advanced product that adversely affects the financial position of a borrowing business is A. Technological factors.
Technological factors refer to changes or advances in technology that can impact a company's operations, market position, and financial performance. In this case, the introduction of a more advanced product by a competitor can significantly affect the financial position of the borrowing business by reducing its market share and eroding its profitability. Technological change can result in increased competition and market disruption, which can have a negative impact on a company's financial position.
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at the end of 2017, stacky corp. had $500,000 in liabilities and a debt-to-assets ratio of 0.5. for 2017, stacky had an asset turnover of 3.0. what were annual sales for stacky in 2017?
According to the question, Stacky made $3,000,000 in yearly sales in 2017.
What types of liabilities are there?Any obligations owed by your business to others, including loans, mortgages, unpaid invoices, IOUs, and other sums of money, are referred to as liabilities. A liability exists when you owe someone money after making a promise to pay them in the future.
With a debt-to-assets ratio of 0.5, Stacky is financing half of his assets with debt and the other half with equity. Therefore, by the end of 2017, Stacky held assets assessed by $500,000 / 0.5 = $1,000,000.
Due to Stacky's asset turnover of 3.0, its 2017 sales were $1,000,000 * 3.0 = $3,000,000.
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