The cumulative effect of a change in accounting principle is reported:
A. on the income statement as an extraordinary item.
B. on the income statement as part of discontinued operations.
C. on the retained earnings statement as an adjustment to the beginning balance of the current year.
D. on the retained earnings statement as an adjustment to the beginning balance of the earliest year presented.
D The cumulative effect of a change in accounting principle is reported as an adjustment to beginning retained earnings of the earliest year presented.

Answer:

it is balanced scorecard

Total miles driven activity bases would be the most appropriate for gasoline costs of a delivery service.

What is a base of activities?

A measurable activity is referred to as an "activity base" when allocating overhead expenses. For instance, using the number of machine hours used during a reporting period as the basis for allocating machine costs to the number of units produced is a fair activity. A variable cost's origin is measured by something called an activity base. Direct labour hours, machine hours, units produced, and the most typical activity, units sold, are occasionally referred to as cost drivers.

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The preparation of an income statement through gross profit for Alvarado Company for the month ended March 31 is as follows:

Alvarado Company

Income Statement Through Gross Profit

For the Month Ended March 31

Sales                                       $2,000,000

Cost of goods sold at standard 1,701,000

Gross profit-at standard          $299,000

Variances from standard cost:

Direct materials price               $4,780 Favorable

Direct materials quantity             -600 Unfavorable

Direct labor rate                        33,110 Favorable

Direct labor time                      -4,500 Unfavorable

Factory overhead controllable -1,100 Unfavorable

Factory overhead volume     -10,000 Unfavorable

Net variances from standard costs  = $21,690 Favorable

Actual gross profit =  $320,690

What is cost variance?

Cost variance is the difference computed after subtracting the budgeted cost from the actual cost.  It is made up of the price variance and quantity variance.

The cost variance is favorable when the budgeted or standard cost is more than the actual cost, and vice versa.

                                             Standard   Actual

Pounds per unit                        3.0        2.9875 (23,900/8,000)

Direct Materials                     24,000    23,900 pounds

Material price per pound       $6.00     $6.20

Direct materials cost          $144,000   $148,180

Direct labor hours per unit      7.5        7.525 (60,200 ÷ 8,000)

Hourly rate                          $22.50       $21.95

Variable overhead cost        $1.45       $1.4269 ($85,900 ÷ 60,200)

Total variable overhead   $87,290    $85,900

Fixed overhead cost            $2.00

Fixed overhead direct hours 55,000   60,200

Total fixed overhead costs  $110,000  $

Sales revenue = $2,000,000 ($250 x 8,000)

Variances from standard cost:

Direct materials price    $4,780 ($6.00 - $6.20 x 23,900)

Direct materials quantity  -600 (24,000 - 23,900 x $6)

Direct labor rate             33,110 ($22.50 - $21.95 x 60,200)

Direct labor time           -4,500 [(60,000 - 60,200) x $22.50]

Factory overhead controllable -1,100 ($1.45 x 60,000 - $85,900)

Factory overhead volume -10,000 [(55,000 - 60,000) x $2]

Net variances from standard costs  = $21,690

Gross profit = $320,690 ($299,000 + $21,690)

Cost of goods sold:

Direct materials          $144,000 ($6.00 x 24,000)

Direct labor               1,350,000 ($22.50 x 60,000)

Variable overhead        87,000 (60,000 x $1,45)

Fixed overhead           120,000 (60,000 x $2)        

Cost of goods sold $1,701,000

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Under project network diagram where the related costs and percentage completion stages are defined already with an assumption of time proportionately rule earned value chart can be drawn.

What is Earned Value Chart?

A management technique to show the evolution of earned value metrics through using an value flow chart. Typically, the chart comprises lines for earned value, which is a gauge of how much progress has been accomplished, budget (planned project cost), and actual cost (planned project cost).

Formula for computing the Earned Value from the chart:

E⇒ Earned Value =  Task Budget x Percent complete (actual)

Therefore for drawing the earned value chart one must know about the time proportionality rule of given project, costs and percentage completion stages from a network diagram.

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The keys of enterprise design thinking are Hills, Playbacks, Sponsor users.

Enterprise design thinking is a crucial part of the business techniques which enables the creation of innovative ideas which helps to distinguish between the products of different companies and also attracts the customers. It is based on user oriented outcomes, multidisciplinary efforts nd loop processes for new inventions. The utility of keys are that Hills are used to align the employee as teams, playbacks align across time setting and sponsor users align with the user's reality interface. In enterprise design thinking, some most essential steps are Discover, Define, Develop and Deliver. It enables to understand the customers, explore their requirements and evaluate the processes as per demand.

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Accountant Alan Wingspan has just finished working on the balance sheet, income statement, and statement of cash flows. The next step in the accounting cycle will involve preparing the balance sheet and other important financial statements of the store.

What is accounting cycle?

The accounting cycle is a comprehensive procedure for locating, evaluating, and documenting a company's accounting events. The usual 8-step process starts when a transaction takes place and concludes with its inclusion in the financial statements.

The recording of journal entries, publishing to the general ledger, determining trial balances, making adjusting entries, and producing financial statements are the essential phases in the eight-step accounting cycle. A systematic set of guidelines known as the accounting cycle is used to guarantee the accuracy and consistency of financial accounts.

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ESSAY ON STARTING A SMALL BUSINESS

Starting a small business is the best way to gain freedom. Although this statement is disputable, it has sense.

Why do people decide to become entrepreneurs? They are longing for independence. Small business helps one manage his time in the way he wants. He can produce the goods and services he likes. Finally, he is able to try to be responsible and creative.

Small business is very important for the economy of every state. Small entrepreneurs contribute into the state budget a lot. It is possible to say that the complex of small and middle firms provides the country with the same profit as big business does. In simple words, a prosperous state cannot survive without small business. It is impossible to defeat poverty without small business. Thus, if you have any genuine and uncommon ideas concerning the production of useful goods and services, establish your own small firm.

Starting up is not easy

Starting a small business is not an easy thing. Whether you’re doing something as simple as business paper writing as a business or as grand as running a construction company building skyscrapers, you should be psychologically and financially prepared to numerous challenges. Moreover, it is vital to know something about business, management and marketing.

To begin with, you should educate yourself about the business and market. Learn from reputable education websites.

You should also study the market in order to learn about the goods and services that are required by consumers. This factor is the crucial one. When you discover that people demand an item but no one has produced it yet, you have the best chances to conquer the chosen sector of the market. Secondly, you ought to think about the price and quality of your product.

There are two options. The foremost one is the production of high-quality and expensive goods that will serve long. The second option is related to consumerism. You produce poor-quality cheap goods and attract clients with the help of the lowest prices.

Sad to say but it is difficult to choose the best option. Many people are ready to pay a lot to possess a quality item. Others avoid paying a lot and prefer cheap products. If you need title cash now to start your business, consider applying for a title loan.

Create a business plan

Then, you should create your own business plan that will contain the entire information about the functioning of your firm. Think about the target groups of customers, production, logistics, storage and retail.

Apparently, you should produce and store your goods somewhere. Then, you will meet with such issues as revenue and expense. You will need to hire a few employees to run your business rewardingly. Without doubt, you will have to be selective, demanding and attentive in order to recruit the right people into your firm. Finally, you will meet the problem of rent, taxation, etc. A firm resembles a household. You should pay attention to the slightest problem, question and misunderstanding if you want to increase your income and develop your small firm into something bigger.

The ups and downs

As might be expected, starting a small business has many advantages and disadvantages. The most solid strong side is independence. You do not have to work for someone else. You work for your own profit. You possess the freedom of choice and actions. If you are not respected and appreciated at work, you can embody your original and amusing ideas in your own business.

Ambitious people always try to start a small business if they receive such an opportunity. You do not need to listen to the instructions and threats of your boss when you are late. At long last, you will earn more money. You are the boss and the entire profit is yours.

Nevertheless, there are many factors that cause problems to a novice entrepreneur. You should remember that independence is also responsibility. You are responsible for your firm, its prosperity and the wellbeing of your employees. Furthermore, you are responsible for the health and life of your customers who consume your products.

You are expected to know how to develop and improve your small company beneficially. You should know how to behave in case of crisis and unpredictable situations. You should be ready to wake up at night and spend the whole day at your firm in order to settle down all urgent problems and conflicts between employees. You should be a teacher, psychologist and negotiator who is able to resolve conflicts and motivate his staff practically.

You have a great opportunity to share your experience in creating and managing your business, shoot and edit a video using ad maker in which you can talk about the difficulties and successes that you have experienced. Perhaps this will be useful for people who also want to open their own business.

When components are manufactured internally, they must be priced as they move between departments. Market-based pricing can be used, prices can be set internally, and departments can negotiate prices.

When a transfer's cost goes down: c. The division that makes use of the intermediate product will make more money, and d. The division that makes use of the intermediate product will pay less money.

A lower price when one division buys from another will increase the revenue and profits of the buying division, just as purchasing components from another company at a lower price will reduce costs and increase profit.

What effect does transfer pricing have?

The establishment of prices for the goods and services traded between subsidiaries, affiliates, or commonly controlled businesses that are a part of the same larger enterprise is made possible by transfer pricing. Corporations may be able to save money on taxes through transfer pricing, but tax authorities may challenge their claims.

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Its dimensions of such a tank=L*B*H=[tex]4*5*10=200[/tex]

Total cost=[tex]720 *10=$7200[/tex]

Base area Ab = w x

=4*36=144[tex]=4*36=144[/tex][tex]=4*36=144[/tex]

side area=$5/sq. m.

{eq}A_s=...144*5 =720 sq. m.

If building the tank costs $10/sq. m

Then total cost=[tex]720 *10=$7200[/tex]

its dimensions of such a tank=L*B*H=[tex]4*5*10=200[/tex]

In mathematics, a dimension is the length or width of an area, region, or space in one direction. It is just the measurement of an object's length, width, and height. Length is a common way to convey dimensions.

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Entrepreneurs need to remember that employee costs are the biggest costs the business will bear.

An entrepreneur is someone who has a concept and who works to create products or services that humans will buy, in addition to an company to support that attempt. Entrepreneur takes on most of the chance and initiative for their new commercial enterprise and is regularly visible as visionary or innovator.

An entrepreneur is a French word in all likelihood coined by the economist Jean-Baptiste Say from the word entrepreneur, which is normally translated as "undertaker" or "adventurer."1 Say studied Smith's e-book and, whilst agreeing on all points, observed that the omission of enterprising businessmen becomes a critical flaw.

The entrepreneur is defined as a person who has the capability and choice to set up, administer and succeed in a startup undertaking alongside chance entitled to it, to make profits. The best example of entrepreneurship is the beginning of a brand-new business mission.

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Jane's nominal income increased this year, but her real income remained unchanged. (third option)

What is real income and nominal income?

Income is the monetary compensation that is received by a worker for services rendered.

Nominal income is the income of a person that is calculated using current year prices.

Nominal income of Jane last year = units of corn bought x price per unit 200 x $5 = $1000

Nominal income of Jane this year = units of corn bought x price per unit

$200 x $6 = $1200

Change in nominal income = $1200 - 1000 = $200

Nominal income increased by $200.

Real income is the earnings of a person that has being adjusted for inflation. Real income is measured in terms of the purchasing power of the income. Jane's income last year and this year is still buying the same units of corn. This means that the real income has remained unchanged.

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Landshark, Inc. sold a warehouse with an original cost of $150,000 for $230,000. The warehouse had accumulated depreciation of $40,000. The recognized gain on the sale was $ $120,000. Due to Section 291 depreciation recapture, $ $8,000 will be taxed as ordinary income, and $ $112,000 will be Section 1231 gain.

Warehouse and the storage of goods play an important function within the logistics delivery chain across the world. not handiest do warehouses offer secure and cozy storage around the clock, additionally, they allow you to have your goods saved in a single central vicinity, which makes planning and establishing your logistics that lot easier.

Completes shipments with the aid of processing and loading orders. Prepares orders by means of processing requests and delivering orders; pulling materials; packing bins; setting orders in transport place. Completes deliveries by riding a truck or van to and from vendors.

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The probability that it would involve a miscellaneous case is 48%

The term probability refers the possible way of occurring the particular event.

Here we have given that A company hired a psychologist to assist their employees in their personal problems. The psychologist kept 1 Ale for each person they helped. Eight (8) employees sought out help for drug-related problems. Fifteen (15) employee needed help for family crisis problems. And twenty-two(22)employees needed help for miscellaneous.

And we need to find the  probability that it would involve a miscellaneous case.

While we looking into the given question, we know the following values,

There are Eight (8) employees sought out help for drug-related problems.

There are Fifteen (15) employee needed help for family crisis problems.

There are Twenty-two(22) employees needed help for miscellaneous. reasons.

Then the total number of files under study is

=> 8+15+22=45 A.

Here we need to find out of 45 files, there are 22 involve a miscellaneous problems,

Therefore, the required probability is P

=> 22/45

=> 0.48

When we convert it into percentage then we get,

=> 48%

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Equipment used in a trade or businessStocks and bonds held for investmentInventory held for resaleLand held outside the U.S.

Partnership interests are types of property that are ineligible for like-kind treatment

What is a like-kind treatment?

Generally, In general, a like-kind swap may be done with any real estate property that is held for productive use in the trade or company, or that is held for investment purposes.

A taxpayer will not have to pay tax on the first disposal of investment property if they sell one piece of property and acquire another within the allotted amount of time after the initial sale.

If two properties have the same nature or character, although having different grades or qualities, then those properties are said to be of the same "kind."

Whether a piece of real estate has been developed or left in its natural state, it is still considered to be of the same sort. For instance, a similar-kind structure, such as an apartment building, is often analogous to another apartment building.

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CQ

Which of the following types of property are INELIGIBLE for like-kind treatment? Can be more than one answer

A) Land held outside the U.S

B) Equipment used in a trade or business

C) Stocks and bonds held for investment

D) Inventory held for resale

E) Partnership interests

F) Land held for investment

G) Real property used in a trade or business

To prevent the issues such as frequent switching between active and passive voice, lack of visual coherence in the heading designs, the writer team can create a style sheet on the current project.

Visual coherence is the compatibility and synced composition in a test or any project where the elements are bound together in a similar manner of color, shape, image, lines of sight, theme, etc. Being coherent in simple terms can be called as being well-planned.

A style sheet can be defined as the mini-guidebook personally designed for a specific project or book that describes about the complete choices for how the book should be written and designed. It includes the writing format, choice of colors, font size, etc.

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High government expenditures can lead to a bigger: (ii) stimulus.

In physiology, a stimulus is a detectable alternate inside the physical or chemical structure of an organism's internal or external environment. The capacity of an organism or organ to discover outside stimuli, in order that the perfect response may be made, is referred to as sensitivity. A stimulus is something that may cause a bodily or behavioral change. The plural of stimulus is stimuli. Stimuli may be outside or inner. An example of external stimuli is your body responding to a remedy.

A stimulus causes a movement or response, just like the ringing of your alarm clock in case you did not sleep thru it. Stimulus is a word regularly utilized in biology — something that causes a response in an organ or cellular, for example.

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Successful apps such as Groupon have increased sales of several low-profile restaurants. This is due to the use of coupons.

A coupon or coupon payment is the annual interest paid on a bond, expressed as a percentage of its face value, from the date of issue to maturity.

Few of the slang hunters that regularly come out of the Glaswegian tongue find the word 'voucher' instead of 'face'.

There are two types of coupons: manufacturer coupons and store coupons. Below are two examples of his coupons for the same product, but one from the manufacturer and one from the store.

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Try once more later after refreshing your page. Consider exchanging a smaller amount at once. Increase your tolerance for slippage: On the liquidity page, click the setting icon. Try again after increasing your tolerance for slippage a little. Last but not least, try entering a figure with fewer decimal places.

Slippage is the difference between an order's anticipated price and the price at which it is actually executed. Slippage can happen at any time, but it is most common when market orders are employed and there is greater volatility. Slippage in futures contracts and other financial instruments refers to the discrepancy between the entry and exit points for a trade that were indicated by a computer and those that were actually executed by clients using real funds. Frictional costs, market impact, and liquidity all may play a role. Slippage can be lessened through algorithmic trading, and its impacts can be evaluated using historical data, but it is hard to do so completely.

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If we talk about Short run then- An enlarge in authorities purchases boosts aggregate demand from AD 1 to AD two Short-run equilibrium is at the intersection of AD two and the short-run aggregate furnish curve SRAS 1.

What takes place when the authorities increases purchases?

According to this theory, government spending boosts demand in two ways.

First, the authorities directly boosts demand by way of purchasing goods, such as the metal wanted to build a bridge. Secondly, it puts cash in the pockets of each employees and suppliers, who then spend it on goods and services.

The charge degree rises to P 2 and real GDP rises to Y 2 In contrast, a discount in government purchases would decrease mixture demand.

Increased government spending is possibly to motive a upward jab in aggregate demand (AD). This can lead to greater growth in the short-term. It can also potentially lead to inflation.

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The ways that immigrants are critical to the state economy are that :

Immigrants spend on goods and services .Immigrants own businesses .Immigrants make up large portions of important labor sectors .Immigrants are an important source of tax revenue .Immigrants make up more than one-fifth of the state workforce .

How important are immigrants ?

Immigrants are very important to the economy of the United States for many different reasons . They spend on goods and services in the United States which leads to economic growth , and they have businesses which employ Americans .

They also make up such a large portion of the important labor sectors in the economy that they are one - fifth of the workforce in the United States . This means that they are also a huge source of tax revenue for government services .

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Cafeteria plans enable individual employees to choose the benefits that are best suited to their particular needs.

Individual employees is defined as employment in the general workforce where the employee interacts with the public to the same extent as people without disabilities doing the same job, is paid at or above the minimum wage, but not less than the standard wage and level of benefits provided by the employer for the same or similar work done by people without disabilities. A self-employed person doesn't have a single job that provides a steady paycheck. Self-employed people, often known as independent contractors, make money by directly contracting with a trade or business. Most of the time, the payer does not deduct taxes, thus the self-employed person is now responsible for doing so.

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Answer:

Help define standards for control, such as preventing budget overruns

Explanation:

Bond B offers a lower interest rate than Bond A does. Because holders of long-term bonds must wait longer for principal return than those of short-term bonds, long-term bonds are riskier.

Definition of a bond?

Bonds are a common way for both corporations and governments to raise money. By buying a bond, you are lending the issuer credit, and they agree to pay you back the full face value of the loan on the due date.

Investors now have the chance to make a respectable:

living thanks to a significant increase in bond yields. By the end of 2023, inflation is projected to be around 3.5%, and 10-year U.S. Treasury bonds are currently earning more than that. By "real," I mean their adjusted for inflation.

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Expansionary monetary policy can have immediate real short-run effects; initially, no prices have adjusted. But as prices adjust in the long run, the real impact of monetary policy dissipates completely. The Option E is correct.

What is achieved with an expansionary monetary policy?

An expansionary monetary policy is also known as a loose monetary policy, which helps to increases the supply of money and credit to generate economic growth. A central bank usually deploy an expansionist monetary policy to reduce the unemployment and boost growth during hard economic times.

Generally, the Federal Reserve has 3 expansionary monetary policy methods including lowering interest rates, decreasing banks' reserve requirements and buying of government securities.

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When groups of workers receive a portion of the financial return from reducing costs and improving productivity, this is called Profit sharing.

Employees who participate in profit sharing programs are given the opportunity to split corporate profits at the end of the fiscal year. The more money the company makes, the more it can pay its staff. Employees are given the opportunity to share in the company's profits through a retirement program called a profit-sharing plan. Under this type of plan, also known as a deferred profit-sharing plan (DPSP), an employee receives a percentage of a company's profits based on its quarterly or annual results. In lieu of cash, employers might give stock pay to their employees. Utilizing stock or stock options allows for this. There is frequently a vesting period before an employee can receive and sell their stock compensation.

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It is as follows: free trade, customs union, common market, economic union, political union.

What is free trade?

A strategy wherein a government refrains from discriminating against imports or interfering with exports by enforcing taxes or subsidies (on imports) (to exports). However, a free-trade policy does not automatically entail that a nation gives up all control and taxes over imports and exports.

The foundation of the theoretical case for free trade is Adam Smith's claim that the specialization, increased efficiency, and increased aggregate production that result from the division of labor across nations. (Learn about comparative advantage.) A single nation may see practical benefits in trade restrictions, especially if it is the primary buyer or seller of a specific item. In reality, however, only a small portion of the population could benefit from the preservation of local enterprises.

What are taxes?

Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses. Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.

Taxes are borne by whoever bears the cost of the tax in economics, whether this is the entity being taxed, such as a business, or the final users of the items produced by the firm. Taxes should be taken into consideration from an accounting standpoint, including payroll taxes, federal and state income taxes, and sales taxes.

It is as follows: free trade, customs union, common market, economic union, political union.

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A house's square footage can be used to estimate its selling price. = [tex]-39.81 + 0.099[/tex]

Use Selling Price ,The regression line has the generic form y=a+bx. Price is the dependent variable represented by y in this scenario. Size is the independent variable represented by x. The y-intercept is represented by a. This can be found in the output table at the estimate of the intercept. B stands for the slope. A regression line is an estimate of the line that depicts the actual, but unobserved, linear relationship between the two variables. This can be found in the output at the estimated slope. When the value of the explanatory variable is known, the regression line's equation is used to forecast the value of the response variable.

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Consider the following information about a small project: task duration estimates immediate predecessors a 4 days none b 5 days a

Understanding the planned activities that make up the project and the anticipated unit of time or length needed to start and conclude each individual activity is the first step in determining the critical path and anticipated task duration  of a project. A network diagram that displays the planned order for completing the individual tasks, situations when the order necessitates a certain sequence, and times when an activity depends on another for the completion of a different task, is frequently used to sequence the scheduled activities. The critical path of a project is determined by the longest chain of interdependent operations. The series of tasks represented by the critical path typically won't have any float. Alternatively put, any delays in finishing the key route tasks will make the project

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True, in comparison to investment portfolios comprised entirely of corporate stocks and bonds, portfolios which include some form of real estate investment tend to offer higher returns for the same level of risk.

What is investment ?An investment refers to an asset purchased for income appreciation. Valuation refers to the increase in  value of an asset over time. When a person purchases a commodity as an investment, the intention is not to consume the commodity, but  to use it to create wealth in the future. He one of the best ways for beginners to learn how to invest in stocks is to deposit money into an online investment account. This account can  be used to invest in stocks and equity funds. Many brokerage accounts allow you to start investing with as little as one share. Investing is an effective way to invest money  and potentially build wealth. With smart investments, investment may decrease inflation and increase in value. The huge growth potential of an investment is largely due to the power of compound interest and the risk/return trade-off.

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Question:

T or F? In comparison to portfolios comprised entirely of corporate stocks and bonds, investment portfolios which include some form of real estate investment tend to offer lower levels of risk for equivalent returns.

The cash balance on December 31, the previous year, was $115,800.

The current year's cash balance is $172,000 as of December 31. 

What is a cash balance?The sum of money that a business has on hand at the moment is called its cash balance. This cash is held in reserve to cover any unforeseen cash outflows. Without this financial safety net, companies might find themselves unable to cover their expenses.

How is it calculated?

Cash Flow Statement for the Year Ended December 31

Cash flows from operating activities

Net Income                                                  $148,800

Adjustments to balance net income with net operating cash flow.

Accounts receivable increase                 -16,000

Inventory increase                                    -79,000

Accounts payable increase                      24,000

Income taxes payable increase               6,900

Depreciation expense                              54,000

Net cash provided by operating              

          activities                                                                                   138700

Cash flows from investing activities:

Cash paid for equipment                            -49,500

Net cash used in investing activities                                                -49500

Cash flows from financing activities:

Cash received from stock issuance           64,000

Cash paid for cash dividends                    -97,000

Net cash used in financing activities                                               -33000

Net increase (decrease) in cash                                                        56200

Cash balance at December 31,prior year                                         115,800

Cash balance at December 31,current year                                     172000

The cash balance on December 31, the previous year, was $115,800.

The current year's cash balance is $172,000 as of December 31. 

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