The inventory flow assumption will result in the lowest amount of income tax expense is b. LIFO
FIFO (first in, first out) inventory management seeks to fee stock so the commercial enterprise is much less probably to lose money when merchandise expires or grows to be obsolete. LIFO (closing in, first out) inventory control is higher for nonperishable items and makes use of cutting-edge charges to calculate the price of goods sold.
To calculate FIFO (First-In, First Out) decide the value of your oldest inventory and multiply that value by the amount of inventory sold, while to calculate LIFO (closing-in, First-Out) determine the fee of your most current stock and multiply it through the amount of stock sold.
That buys coffee mugs from wholesalers and sells them on the internet. One Cup's fee of goods bought (COGS) differs when it makes use of LIFO versus whilst it uses FIFO. Inside the first state of affairs, the rate of wholesale mugs is rising from 2016 to 2019.
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The question is incomplete. Please read below to find the missing content.
In a period of increasing prices, which inventory flow assumption will result in the lowest amount of income tax expense?
a. FIFO
b. LIFO
c. Average cost method
d. Income tax expense for the period will be the same under all assumptions
The ______________ enables us to take into account how individuals, in the welter of their daily experience, often become falsely conscious of their position.
The sociological imagination enables us to take into account how individuals, in the welter of their daily experience, often become falsely conscious of their position.
What is sociological imagination?Sociological imagination is the capacity to relate smaller social problems to more significant human ones.
A framework for comprehending social reality that situates individual experiences within a larger social and historical context is known in the discipline of sociology as the "sociological imagination."
What are the 3 components of sociological imagination?It entails three :
tracing the connections between people's behavioral patterns and broader social forces; learning to recognize how people behave according to systems; identifying the social forces that are influencing a person's behavior.To know more about sociological imagination visit:
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When a business faces a ________ demand curve, it will choose a combination of quantity and ________ to maximize its profit.
In a monopolistically competitive industry, when a business faces a downward-sloping demand curve, it will choose a combination of quantity and price to maximize its profit.
What is a monopolistically competitive industry?A monopoly is a firm that is distinguished by a lack of competition in a market and the absence of substitutes for its product. Monopolies can impose price increases and create barriers to entry into the market.When several companies offer competing products or services that are similar but not perfect alternatives, monopolistic competition develops. In a monopolistic competitive industry, the barriers to entry are low, and the decisions of any one firm have no direct impact on its competitors.When a business encounters a downward-sloping demand curve in a monopolistically competitive industry, it will choose a mix of quantity and price to optimize its profit.Therefore, in a monopolistically competitive industry, when a business faces a downward-sloping demand curve, it will choose a combination of quantity and price to maximize its profit.
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The complete question is given below:
In a monopolistically competitive industry, when a business faces a ________ demand curve, it will choose a combination of quantity and ________ to maximize its profit.
_____ is a portfolio management technique that considers industry attractiveness and competitive position rather than focusing solely on market growth and market share.
Operational strategy is a technique that considers industry attractiveness and competitive position rather than focusing solely on market growth and market share.
Portfolio management techniquePortfolio Management (PM) techniques are organized ways of examining at a set of projects or actions or even company units, in order to reach an optimum ratio between risks and returns, stability and development, attractions and liabilities in general, by making the most promising use of usually restricted resources. For example, the portfolio could contain real estate,mutual funds, fixed deposits with banks, shares, and bonds.
TYPES OF PORTFOLIO MANAGEMENT
Active Portfolio Management.
Passive Portfolio Management.
Discretionary Portfolio Management.
Non-Discretionary Portfolio Management.
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When it comes to advertising, most options can be quite expensive, which is why it is necessary to have a formal advertisin?
When it comes to advertising, most options can be quite expensive, which is why it is necessary to have a formal advertising budget.
An organization's allotment of promotional costs over a predetermined time frame is known as an advertising budget. It is a gauge of how much money a business plans to spend on achieving its marketing goals. The advertising budget is the point in an organization's operational planning when its strategic marketing objectives and cost-benefit analysis coincide. An economic principle known as the Dorfman-Steiner Rule maximises the cost of advertising. According to the theorem, a business can increase income by investing in advertising or lowering the cost of a good.
According to the Dorfman-Steiner Rule, a company's advertising spending is at its profit-maximizing equilibrium when an extra dollar of advertising simply results in an extra dollar of net revenue. The Dorfman-Steiner rule only applies to monopolists who seek to maximise profits.
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Gross profit is:___.
a. profit after deducting operating expenses.
b. profit after deducting other expenses.
c. profit before deducting operating expenses.
d. none of these choices are correct.
Gross profit is: profit before deducting operating expenses
Gross profit is the profit a company makes after deducting all costs associated with producing and selling a product or service. You can calculate your gross margin by subtracting your cost of goods sold (COGS) from your total sales.
It is calculated as the residual of all income and profits minus all expenses and losses for the period and is also defined as the net increase in equity arising from a company's operations. This is different from Gross Revenue, which only subtracts the Cost of Goods Sold from Sales. For households and individuals, net income refers to (gross) income fewer taxes, and other deductions.
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What are the tax advantages of substituting fringe benefits for salary paid to a shareholder-employee?
The shareholder-employee can exclude these sums from personal taxation and the corporation can claim a deduction for the cost.
What is Fringe Benefit?Unless the law expressly excludes it, any fringe benefit you give the recipient is taxable and must be factored into their salary. The exclusions that pertain to particular fringe benefits are discussed in Section 2. Taxable benefits are those that are not exempt from the regulations outlined in section 2.
Are Fringe Benefits Taxable?Basic things are frequently a part of hiring packages and constitute common fringe benefits. Health care, life insurance, financial aid for school, daycare, cafeteria expenses, cafeteria subsidies, below-market loans, employee discounts, employee stock options, and the use of a corporate vehicle for personal use are a few of these.
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Deferred income taxes is a balance sheet item for iowa products company. How would it most likely be classified on the balance sheet?
Deferred income tax is most likely classified on the balance sheet as a liability.
Deferred income tax is a record of taxes that have been incurred but have not been paid yet. This line item on a company's balance sheet reserves money, for a known future expense. Thus, this reduces the cash flow that a company has available to spend.
The deferred income tax liabilities related to a long-term asset and so they are classified as noncurrent because the related asset is classified as noncurrent on the balance sheet.
Hence, deferred income tax shows up as a liability on the balance sheet.
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We can measure the profit earned by a firm in a perfectly competitive industry as:________
We can measure the profit earned by a firm in a perfectly competitive industry as Marginal Revenue.
What is Marginal Revenue?The additional revenue generated by the sale of one more unit of output is known as marginal revenue (MR).Although marginal revenue can remain constant at a certain level of output, it will eventually start to decline as the output level rises due to the law of diminishing returns.According to economic theory, firms that are completely competitive keep on producing goods until marginal revenue and marginal cost are equal.If a business wants to maximize its profits, it will produce until marginal cost equals marginal income.Businesses often conduct a cost-benefit analysis and stop production when marginal revenue is less than marginal cost.To know more about marginal revenue with the given link https://brainly.com/question/13383966
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Has this white's video prompted you to make any changes in the way that you view or manage your personal finances? Do you think it will impact how you handle your personal finances in the future? Explain.
The video by Elizabeth White should prompt people to make a change in how they handle their finances as it shows how easily our finances can take a turn for the worst.
Why should be manage our personal finances effectively?In this TED Talk, Elizabeth White talks about how her's and the Boomer generation's personal finances are in never ending trouble and how they are being blamed for not planning their finances well.
It shows how easily things can change for the worst financially as Elizabeth White went through a tough time.
This shows that it is important to take stock of our finances such that we won't go through what she did and be able to survive financial emergencies. We can do this by saving up and talking to financial planners.
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The tax cuts and jobs act allows companies to take bonus depreciation sufficient to write off what percent of investment immediately?
The tax cuts and jobs act allows companies to take bonus depreciation sufficient to write off 100 percent of investment immediately.
Is the tax cuts and jobs act good?
Although numerous other factors undoubtedly had an impact on the economy between 2017 and 2019, the economy did grow more quickly after 2017 than had been anticipated before the TCJA. TCJA dramatically decreased federal revenue compared to what would have been produced had the law not been passed, not withstanding the fervent assertions of its supporters.
What did the TCJA eliminate?
Unreimbursed employee expenses, tax preparation costs, and other supplemental deductions were all abolished by the TCJA. Taxpayers can still claim a deduction for some casualty losses that occurred in places that the government has declared disaster areas, but it canceled the deduction for theft and personal casualty losses.
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Everything else held constant, an autonomous monetary policy easing ________ aggregate ________
Everything else held constant, an autonomous monetary policy easing increases aggregate demand.
A country's central bank uses a set of instruments called monetary policy to regulate the total amount of money in circulation, foster economic expansion, and implement measures like adjusting interest rates and altering bank reserve requirements.
The Federal Reserve Bank of the United States carries out a monetary policy through a dual mandate to maximise employment while containing inflation.
Central bankers utilise monetary policy to maintain economic stability and control inflation and unemployment. A declining economy is stimulated by an expansionary monetary policy, and an inflationary economy is slowed by a contractionary monetary policy. The monetary and fiscal policies of a country are frequently in sync.
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The following units of an item were available for sale during the year: Beginning inventory 21,600 units at $20.00 Sale 14,400 units at $40.00 First purchase 48,000 units at $25.20 Sale 36,000 units at $40.00 Second purchase 45,000 units at $26.40 Sale 33,000 units at $40.00 The firm uses the perpetual inventory system, and there are 31,200 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to (a) FIFO, (b) LIFO
The ending inventory using LIFO is $673,920.
The ending inventory using FIFO is 823,680.
What are the ending inventories?
Ending inventory are the inventories of a company that were left unsold at the end of a business period. In this question, the ending inventory is 33,000.
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold. Ending inventory would be made up of inventories that were purchased the earliest.
The ending inventory would be taken from the beginning inventory and part of the first purchase.
Ending inventory = (21,600 x 20) + [(31,200 - 21,600) x 25.20]
= 432,000 + 241,920 = $673,920
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold.. Ending inventory would be made up of inventories that were purchased the latest.
The ending inventory would be taken from part of the second purchase.
Ending inventory = 31,200 x 26.40 = 823,680
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What method of inventory valuation matches each unit on hand at the end of the period with its actual cost?
The specific identification method of inventory costing matches each unit with its actual cost.
What is specific identification method?The unique identification approach is related to inventory valuation, specifically tracking each individual item in inventory and assigning costs separately rather than grouping products together. When a corporation can identify, mark, and track each item or unit in its inventory, it is functional and usable.
Individual inventory items are tracked using the unique identifying mechanism. When individual objects can be clearly identified, such as with a serial number, stamped receipt date, bar code, or RFID tag, this method is appropriate.
The particular identification inventory valuation method is a mechanism for tracking each individual item in an inventory from the time it arrives until it leaves.
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Ge is disrupting itself by using reverse innovation to create low-cost health care diagnostic products in emerging markets. all of the following
are true about this strategy except:______.
a. ge is creating a new industry
b. ge converted internal inventions into market innovations
c. ge is disrupting itself in order to stay innovative
d. ge used emerging markets to invade from the "bottom up"
e. ge is utilizing reverse innovation in order to protect itself from rivals
ge is utilizing reverse innovation in order to protect itself from rivals.
What is reverse innovation?Reverse innovation or trickle-up innovation An innovation is one that is first noticed or used in the developing world before moving to the industrialised world. Dartmouth academicians Vijay Govindarajan and Chris Trimble, as well as General Electric's Jeffrey R. Immelt, popularised the term.
Reverse innovation is the process by which goods developed as low-cost prototypes to satisfy the needs of developing countries, such as battery-powered medical tools in countries with poor infrastructure, are repackaged as low-cost novel goods for Western purchasers.
The approach of innovating in emerging (or developing) markets and then distributing/marketing these inventions in mature ones is known as reverse innovation. Many businesses are creating items in rising markets such as China and India and then distributing them abroad.
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The Retained earnings account has a credit balance of $50,000 before closing entries are made. Services revenue for the period is $68,200, wages expense is $46,300, and dividends are $14,200. What is the correct closing entry for the expense accounts
The correct closing entry for the expense accounts will be Debit Revenue accounts $68,200; credit Income Summary $68,200.
At the conclusion of an accounting period, a closure entry is performed to move balances from a temporary account to a permanent account.
Companies use closure entries to reset temporary accounts, which show balances for a particular accounting period, to zero. In doing so, the company transforms these balances into accounts that will always be present on the balance sheet. These continuous accounts show a business's past financial data.
An illustration of a closing entry is when you add up all the revenue and expense account totals at the end of an accounting period to an income summary account, which effectively makes the account balance in the income summary account the net profit or loss for the period. Then, you shift the balance to the retained earnings account from the income summary account.
The net income or loss for the period is accumulated in the retained earnings account, and the temporary account balances are reset to zero so they can be used once more to store period-specific amounts in the following accounting period.
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When creating your résumé, you should _____. a. tailor it to the needs of the employer b. use industry and job related terms c. match it to the job description d. all of the above please select the best answer from the choices provided a b c d
The principle to follow for forming a marketable resume stands D. all of the above.
What is a resume?
A resume exists as a formal document that a job application forms to itemize their capabilities for a position. A resume is usually accompanied by a customized cover letter in which the applicant represents an interest in a characteristic job or company and draws attention to the most relevant specifics on the resume.
A resume exists as a CV (Curriculum Vitae) or a document produced and operated by an individual seeking employment or an appointment to present their:
BackgroundSkillsAccomplishments.To play a successful resume, one should:
Tailor it to the requirements of the employer.Usage industry and job-related terms.Compare it to the job description.The principle to follow for forming a marketable resume stands D. all of the above.
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The ________ allows the scanning, monitoring, and evaluating of changes and trends in a firm’s macro environment.
The PESTEL framework allows the scanning, monitoring, and evaluating of changes and trends in a firm's macro environment.
A PESTEL analysis is a strategic framework commonly used to evaluate the business environment in which a firm operates. Traditionally, the framework was referred to as a PEST analysis, which was an acronym for Political, Economic, Social, and Technological; in more recent history, the framework was extended to include Environmental and Legal factors as well.
The framework is used by management teams and boards in their strategic planning processes and enterprise risk planning management. PESTEL analysis is also a very popular tool among management consultants to help their clients develop innovative product and market initiatives, as well as within the financial analyst community, where factors may influence model assumptions and financing decisions.
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Why would a company’s manager be concerned about the quantity of its purchases returns if its suppliers allow unlimited returns?
The company incurs costs in receiving, inspecting, identifying, and returning the merchandise. More returns create more expenses.
Is cost of sales an expense?
Cost of Goods Sold is also known as “cost of sales” or its acronym “COGS.” COGS refers to the cost of goods that are either manufactured or purchased and then sold.
COGS counts as a business expense and affects how much profit a company makes on its products.
What are the depreciation expense?
Depreciation expense is that portion of a fixed asset that has been considered consumed in the current period.
This amount is then charged to expense. The intent of this charge is to gradually reduce the carrying amount of fixed assets as their value is consumed over time.
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An example of an electronic brokerage system used to trade foreign exchange is?
Reuters is an example of electronic brokerage system used to trade foreign exchange. With the use of a website, consumers can utilize e-brokerage to buy and sell stocks online and get information. Nearly all online brokerage firms allow consumers to create their own personal financial manager and have a straightforward sign-up process.
A wholesale electronic trading platform called Electronic Broking Services (EBS) is utilized to transact on the foreign currency market (FX) with market-making banks. Large banks formed it first as a partnership, and it later joined CME Group is electronic trading exchange connects buyers and sellers in a virtual marketplace.
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During a meeting, brock pulls out his cell phone to check emails because the cfo's presentation is boring and uninteresting. which principle of listening is ignored in this example?
The principle of listening which is ignored here is that, listening is the responsibility of both the speaker and the receiver.
Research has found that by listening effectively you will get more information from the people you manage, you will also increase others trust in you, you will reduce conflict, and you will better understand how to motivate others.
Listening skills are so important for the both the speaker and the receiver because they enable both parties to have good communication. Thus, individuals should practice good communication in order to ensure that there is no concerns or differences between both parties.
Hence, listening is the responsibility of both the speaker and the receiver.
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Both david and kara produce shirts and shoes. If david’s opportunity cost of 1 shirt is 6 shoes and kara’s opportunity cost of 1 shirt is 5 shoes, then?
If David's opportunity cost of 1 shirt is 6 shoes and kara’s opportunity cost of 1 shirt is 5 shoes, then Kara has a comparative advantage in the production of shirts.
What is comparative advantage?In an economic model, agents have a comparative advantage over others if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to the trade. Comparative advantage describes the economic reality of trade advantages for people, firms, or nations as a result of disparities in their factor endowments or technological progress.What you accomplish best while giving up the least is referred to as comparative advantage. For example, if you're a fantastic plumber as well as a fantastic babysitter, your comparative advantage is in plumbing.Therefore, if David's opportunity cost of 1 shirt is 6 shoes and kara’s opportunity cost of 1 shirt is 5 shoes, then Kara has a comparative advantage in the production of shirts.
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Capitalism is a system that may be seen as the economic equivalent of?
Capitalism is a system that may be seen as the economic equivalent of classical liberalism. Which of these philosophers had the greatest impact on Founding Fathers John Locke
Capitalism, also known as the free market economy or free enterprise economy, has been the dominant economic system in the Western world since the fall of feudalism, in which most means of production are privately owned, production is directed, and income is primarily distributed through the functioning of the market
Capitalism often involves private actors owning and managing property according to their own interests, with demand and supply freely priced in the market to serve the best interests of society It comes to be regarded as an economic system. An essential feature of capitalism is the motive for making profits.
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What are the determinants of economies of scale and diseconomies of scale, respectively?
Diseconomies of scale occur when long run average total cost grows as output increases, while constant returns to scale occur when costs remain constant as product increases. Economies of scale exist when long run average total cost drops as output increases.
The phenomenon known as economies of scale occurs when the scale or magnitude of the production product by a firm increases while the average cost per unit of output decreases. This is an illustration of a natural monopoly, in which there is only one effective number of businesses.
A complex product like an automobile is produced using another form of scale economies.
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How divisional wacc will be calculated for both exploration and production and refining?
Divisional WACC will be 8.13%
What is Divisional WACC?The divisional or project weighted average cost of capital (WACC) is the hurdle rate or discount rate used to evaluate divisions or projects that have a different risk than the company's overall risk, which includes all projects and divisions.
The weighted average cost of capital (WACC) measures a company's total cost of capital, including common stock, preferred stock, bonds, and other kinds of debt.
In theory, WACC indicates the cost of raising an additional dollar. A WACC of 5%, for example, suggests that the corporation must pay an average of $0.05 to obtain an additional $1. This $0.05 could represent the cost of debt interest or the dividend/capital return demanded by private investors.
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The more ________ used, the greater the leverage a company employs on behalf of its owners.
The more "DEBT" used, the greater the leverage a company employs on behalf of its owners.
What is DEBT?A debt is something that one party borrows from another, typically money. Many businesses and people utilize debt to finance significant expenditures that they would not normally be able to afford.
Some characteristics of DEBT are-
An agreement to borrow money with the need that it be repaid at a later time, typically with interest, is known as a debt arrangement.Debt is money that one party borrows from another.Many businesses and individuals utilize debt as a means of financing significant purchases that they would otherwise not be able to make.In a financial agreement based on debt, the borrowing party is granted permission to borrow funds subject to the need that they be repaid at a later time, typically with interest.The four primary forms of debt are secured, unsecured, revolving, and mortgaged.Bonds are a type of debt that businesses issue to raise money.To know more about debts, here
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True or false: the long-run aggregate supply curve will shift to the right with technological innovation.
The long-run aggregate supply curve will shift to the right with technological innovation. This statement is true.
An improvement in technology always shifts the aggregate production function PF1 to PF2 in the right direction. Other developments which could make an upward shift in the long run aggregate supply curve includes an increase in the capital stock as well as an increase in the availability of natural resources.
Before the technological change, firms employed very few workers at a real wage. If workers are much productive, firms be in profit to hire more of them . The demand curve for labor thus shifts from the initial point.
The real wage will rise and the natural level of employment will also rises. The increase in the real wage rate reflects enhanced productivity of labor, means the amount of output per worker.
The real GDP that the economy is capable of producing also rises. Higher the output means higher natural level of employment, because labor has become more productive as a result of the technological advancement.
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A clause in a debt contract requiring that the borrower purchase insurance against loss of the asset financed with the loan is called a.
The right response is Option C which is Restrictive covenant.
Restrictive covenant.
Restrictive covenants are clauses that prevent, prohibit, restrict, or limit the actions of a person or entity named in a contract. Restrictive covenants are common in real estate transactions and apply to everything from the colors you can paint your house to how many tenants can live in a building.What is an example of a restrictive covenant?A restrictive covenant may include things that you can't do with your property, like raise livestock. A restrictive covenant will also include things that you must do, like mow your lawn regularly. The specific restrictive covenants you need to follow will vary depending on where you liveTo learn more about Restrictive covenant. click the links.
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Correct Question - A clause in a debt contract requiring that the borrower purchase insurance against loss of the asset financed with the loan is called a
A) collateral-insurance clause.
B) prescription covenant.
C) restrictive covenant.
D) proscription covenant.
The cross-price elasticity between gillette razors and a related good is -3. What happens to the demand for the related good if the price of gillette razors falls by 10 percent?
If the price of Gillette razors falls by 10 percent the demand for the related goods will rise by 34%.
Cross-price elasticity measures how sensitive the demand of a product is over a shift of a corresponding product charge. regularly, within the market, some goods can relate to one another. this can mean a product's price rise or decrease can definitely or negatively affect the other product's demand.
If the absolute value of the cross elasticity of demand is more than 1, the cross elasticity of demand is elastic, which means a change in fee of product A affects a greater than a proportionate exchange in quantity demanded of product B.
In economics, the cross elasticity of demand or cross-fee elasticity of demand measures the proportion of trade of the quantity demanded a product to the percentage of trade within the price of any other product, ceteris paribus.
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Bhat and Cho do business as Data Security, a partnership. In most states, for the purposes of collecting judgments and having accounting performed, this firm would be treated as
The fact that the business that Bhat and Cho do as Data Security, means that for the purpose of collecting judgements and having accounting performed, most states would treat the firm as an independent entity.
What is an independent entity?An independent entity is one that does not get counted along with the assets of its owners or partners. In other words, it is independent of the affairs of its owners and is treated as having its own identity.
In this case, the Data Security partnership that Bhat and Cho have will be treated as a separate entity from them which makes it an independent entity.
This is purely for the purpose of collecting judgement and having proper accounting records kept. And even at that, not all states in the United States will require this.
In conclusion, this is an independent entity.
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Economists who focus on fiscal austerity tend not to be concerned about recessions that may result from fiscal austerity.
a) true
b) false
Economists who recognition on economic austerity tend now not to be worried approximately recessions that can result from fiscal austerity. B) False
Austerity additionally referred to as austerity measures, is a set of monetary guidelines, normally inclusive of tax increases, spending cuts, or a combination of the two, used by governments to lessen financial deficits.
Austerity implies a reduction in authorities' spending during a duration of vulnerable monetary increase. it is a deflationary financial coverage, related to decreasing fees of monetary boom and better unemployment.
Policies which can be taken into consideration austerity measures include growth in taxes, cutting again on authorities' applications, such as healthcare offerings and useful resources to veterans, a reduction in pensions, and a reduction in salaries and wages for authorities personnel.
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