The ratio of value-added manufacturing time to the total of both value and non-value-added manufacturing times is known as cycle efficiency.
Value-Added Time—The amount of time spent on tasks that add value to a process or that customers are willing to pay for. Time spent performing tasks in a process that the client is not prepared to pay for is referred to as non-value added time. Time spent that enhances the results of a manufacturing is referred to as value added time. Usually, this is only the processing time necessary for production. The time spent enhancing the value of a good or service is known as the value added ratio (VAR).
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Why do you think some individuals place more trust in alternative banking services?.
Because, for instance, Wells Fargo has been involved in scandals. People may be placing more trust in alternative banking services because other, better-known businesses aren’t as trustworthy with customers’ money.
They might also be indigent. Due to the fact that they especially cannot risk anything happening to their money. Also because many new banking options are emerging, offering more inventive ways to handle and secure money.Financial institutions usually charge fees, require a minimum deposit, and need additional up-front costs, which significantly raise entry barriers for people who don’t always have a lot of money. This is accurate despite the fact that alternative services ultimately cost more.Unbanked people are those who do not have a savings or checking account with a bank or credit union. People who lack access to traditional banking services, such as loans and credit cards, as well as savings and checking accounts, are considered unbanked.Due to the strong personal connections alternative financial services have with the individuals and communities they serve, low income people and the communities they serve feel trustworthy and secure.
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an company has three products in its ending inventory. specific per unit data at the end of the year for each of the products are as follows: product 1 product 2 product 3 cost $ 39 $ 109 $ 69 selling price 97 177 127 costs to sell 5 78 29 required: what unit values should han use for each of its products when applying the lower of cost or net realizable value (lcnrv) rule to ending inventory?
The unit value that the company should specify is $39, $31 and $69 for products 1, 2 and 3 respectively in its ending inventory
Income statement: It is a statement that lists all of an organization's costs and revenues for a specific year, and the difference between the two is calculated and referred to as a profit or income. The expense items that are deducted from the profit are all removed from the income statement.
Computation of Units
Product Cost NRV Per unit Inventory Value
1 $39 $92 $39
2 $109 $31 $31
3 $69 $127 $69
NRV = Selling price - Cost to sell
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daniel is a house painter. right now, he charges $80 to paint a wall and sells 11 walls per month. suppose he estimates his demand curve and finds out the price elasticity of demand is 0.5. if he increases his price to $120, what will happen to his total revenue?
According to the given information, The total revenue of Daniel, a house painter, will decrease.
For pricing decisions, the price elasticity of the demand is crucial because it determines how responsive the quantity demanded is to price changes. When the demand is elastic, it is not a good idea to raise the price of the good. A price increase is advised in these types of circumstances to increase total revenue because inelastic demand means that the quantity demanded changes less than proportionately to a change in prices. The demand is relatively elastic in the example because the price elasticity of demand has a value greater than 1, which indicates. We can say that the demand is inelastic if the value is less than 1.
If the demand is elastic, a price increase would result in a decline in total revenue.
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problems in a new process for electronic receipt of lab results. on the first day of the new process, the receptionist called the central lab to complain that they did not receive their daily results fax. where did this problem likely originate?
This problem likely originates from the new process itself being flawed and not receiving their daily results fax.
A receptionist is an employee taking a workplace or administrative help role. The work is typically carried out in a waiting place along with a foyer or the front office desk of a business enterprise or commercial enterprise. The identified receptionist is attributed to the person that is hired by using a company to get hold of or greet any visitors, patients, or clients and answer smartphone calls.
The term front table is used in lots of accommodations for an administrative department wherein a receptionist's responsibilities additionally may consist of room reservations and assignments, guest registration, cashier work, credit score assessments, key control, and mail and message provider. Such receptionists are regularly referred to as front table clerks. Receptionists cowl many regions of work to assist the companies they paint for, along with setting appointments, filing, report maintaining, and other workplace tasks.
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if you try to make a good final impression during a job interview, what perceptual bias are you relying on to help you get the job?
If you try to make a good final impression during a job interview, are you relying on recency bias to help you get the job.
Recency bias is a memory bias that prefers recent occurrences to historical ones. Recency bias provides more weight to the most recent incident, such as the closing argument from the last attorney a jury considers before adjourning to deliberate.
Recency bias is the inclination to give undue credit to memories that are still recent in your mind, even when they are not the most reliable or pertinent. Recency bias in the realm of investment can be challenging to avoid. When clients base their decisions on recent occurrences and anticipate that those events will persist into the future, they exhibit recency bias. They can end up making irrational choices like selling shares during a market collapse as a result.
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X-treme bubbles have 11 percent of the global chewing gum market, worth $19 billion What are its total sales per year expressed in dollars?
50 Points/Please give a real answer only else will have to report the account.
Thank you.
The total sales per year for X-treme bubbles, based on the percentage they control of the global chewing gum market is $2.09 billion
How to find the total sales?When given the percentage of a market that a company controls, you can find the total sales per year to that company, by checking the annual worth of the market.
The total sales to X-treme bubbles based on their 11 percent ownership of the global chewing gum market is:
= Percentage ownership of market x Net worth of global chewing gum market
= 11% x 19 billion
= $2.09 billion
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explain which of the following approaches to strategy formulation is more likely to generate economic profits
Utilizing internal resources offers a company a superior competitive edge because they are already available to generate economic profit.
What is Profit in terms of Economics?In accounting, a profit is an income that is given to the owner throughout a successful market producing process. Profitability, which is the owner's primary interest in the income-formation process of market production, is measured by profit. There are various profit metrics that are frequently used. Profit is the term used to describe the financial gain experienced when the revenue from a commercial activity exceeds the costs, costs, and taxes associated with maintaining that activity. Income is the actual amount of money earned in a certain time period, whereas profit is the difference
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2. johanna takes out a loan of $500 with a 16% nominal interest rate convertible quarterly. she makes payments of $20 at the end of each quarter. how much principal was repaid in the 4th payment?
Joanna obtains a $500 loan with a nominal interest rate of 16% that is convertible quarterly. She pays a $20 installment at the end of each quarter. The fourth payment of $92.8 settled the principal.
What does a loan's principle consist of?A principal payment is a contribution made to the loan's outstanding balance. In other terms, a principal payment is a payment made toward a loan that goes toward the principal balance owed rather than the interest owed on the loan.
How is principal repaid determined?When you first take out a home loan, you borrow a certain amount of money, which is known as the principal. Simply deduct your down payment from the final selling price of your home to determine your mortgage principal.
In the given question,
Loan= $500
Interest rate= 16%
Installment= $20
principal repaid on the 4th installment= 20* 0.016=3.2
= 20 + 3.2
= 23.2 * 4
= $92.8
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an amount of 16000 is borrowed for 8 years at 3% interest, compounded annually. if the loan is paid in full at the end of that period, how much must be paid back?
He must pay back 20268.32 of amount after borrowing 16000 for 8 years at the interest rate of 3% for one year.
How to calculate loan amount ?The term "Loan Amount" refers to the sum of money we currently owe you for this mortgage. The loan amount may also include other fees, interest , defaulted payments, interest on defaulted payments, principal, and interest on unpaid principal.The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate. The total interest on a loaned or borrowed sum is determined by the principal amount.Amount he borrowed = 16000
No. of years = 8 years
Rate of interest = 3%
Calculate full amount (A) :
Equation for A = P(1 + r/n)^(nt)
A = 16000(1 + .03)^8
A = 20268.32
He need to pay 20268.32 after 8 years.
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evergreen roofing had cash sales for the month totaling $42,000. evergreen offers a 1-year warranty on its roofing services. if evergreen estimates warranty claims will equal 3% of sales, the journal entry to record the estimated warranty expense for the month is:
If evergreen estimates warranty claims will equal 3% of sales, the estimated warranty expense for the month is debit warranty expense $1,260; credit Cash $1,260.
A warranty is a guarantee that is not a requirement of the contract or an indefinite term; it is a clause that only provides rights to the innocent party and does not affect the fundamental terms of the agreement.
The written assurance of quality as promised to a customer by a product manufacturer or service provider is known as a warranty. For the duration of the warranty's term, warranties offer customers legally guaranteed service replacement or problem-solving measures, subject to the warranty's terms and conditions.
Any plant that keeps its leaves all year long and into the following growing season is considered to be evergreen. Many broad-leaved flowering plant species from the tropics are evergreen, but in cold-temperate and arctic regions, the evergreens are typically cone-bearing shrubs or trees (conifers), like pines and firs.
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2021, remsco has taxable income of $80,000 and a charitable contribution limit modified taxable income of $30,800. remsco donated cash of $9,300 to a qualified public charity. what is remsco's current-year charitable contribution deduction assuming remsco makes any elections necessary to maximize its charitable contribution deduction?
Remco's current-year charitable contribution deduction and carryover is: $3,080; $6,22O
.
Since the current-year deduction is limited to 10 percent of charitable contributions charitable contribution limit modified taxable income.
Hence,
Current-year deduction:
Current-year deduction= Charitable contribution limit modified taxable ×10%
Current-year deduction=$30,800 × 10%
Current-year deduction=$3,080
Carryover:
Carryover=$9,300-$3,080
Carryover=$6,22O
In conclusion, Remsco's current-year charitable contribution deduction and carryover are $3,080; $6,22O.
A charitable contribution is a donation or gift to, or for using, a certified organization. it is voluntary and is made without getting, or ex- pecting to get, whatever is of identical value. qualified groups.
For contributions of cash, take a look at, or every other economic present (no matter amount), you need to maintain a document of the contribution: a financial institution file or a written conversation from the qualified organization containing the call of the employer, the amount, and the date of the contribution.
presents to a non-certified charity or nonprofit are not deductible. To qualify, a group must sign up with the IRS underneath section 501(c)(3) or, in some instances, section 501(c)(four). A pledged or promised donation isn't deductible, the only money this is truly given.
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expected sales $ 10,000 units direct material and labor costs $ 150 per unit variable manufacturing overhead $ 20 per unit fixed manufacturing overhead $ 300,000 fixed selling and administrative expenses $ 150,000 average operating assets $ 2,000,000 required return on investment 20% what is the amount of the markup percentage on the absorption cost that should be used to derive the selling price of this product?
The amount of the markup percentage on the absorption cost that should be used to derive the selling price of this product will be 20%.
A managerial accounting technique known as "absorption cost," also known as "full costing," is used to record all expenses related to producing a specific product. This strategy accounts for both direct and indirect costs, including direct materials, direct labor, rent, and insurance.
According to generally accepted accounting principles (GAAP), absorption costing is necessary for external reporting.
Total sales values = Total cost + Return on investment
Return on investment = 20% × 2,000,000 = 400,000.
Profit per unit = 400,000/10,000 units = 40 per unit
Total production cost = Variable cost + Fixed production overhead
= ((150 + 20) × 10,000 + ( 300,000)
= 2,000,000
Cost per unit = 2,000,000/10,000= 200
mark-up in (%) = profit per unit/ cost per unit
= (40/200)× 100 = 20%
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janet recently learned that her credit card company charged her an unauthorized amount of 94 cents on her credit card bill. she reviewed the matter and determined that this charge had been made on a monthly basis for several months. she consulted with a lawyer who told her that in the circumstances the best procedural approach to addressing the problem was for her to b) commence court proceedings in superior court seeking a greater amount for legal costs. a) issue a claim in small claims court for the few dollars that she had been improperly charged. e) forget any court proceedings but try to attract media attention. c) do nothing given the small amount at stake and the costs of litigation. d) seek to have the action against the credit card company certified as a class action thereby allowing her to represent the entire group of possible class members, i.e. those who likewise were billed an unauthorized amount by the credit card company.
The best procedural approach to addressing the problem was for her to seek to have the action against the credit card company certified as a class action thereby allowing her to represent the entire group of possible class members, i.e. those who likewise were billed an unauthorized amount by the credit card company. (option d).
Procedural approach:
A procedural approach is a way of evaluating the performance of business processes based on a model of quantitively and qualitative measurements.
Given,
Janet recently learned that her credit card company charged her an unauthorized amount of 94 cents on her credit card bill. she reviewed the matter and determined that this charge had been made on a monthly basis for several months. she consulted with a lawyer who told her that in the circumstances.
Here we need to find the best procedural approach to addressing the problem was for her.
While looking through the given question the best option is to approaches the court and ask them to take the appropriate action against the credit card company.
So, the correct option is option d. seek to have the action against the credit card company certified as a class action thereby allowing her to represent the entire group of possible class members, i.e. those who likewise were billed an unauthorized amount by the credit card company.
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a large organization in atlanta, ga is coordinating all of their promotional messages to ensure consistency. what is this process called? question 2 options: a) aida concept b) integrated marketing communications c) the selling process d) promotional mix
In Atlanta, Georgia, a large organization is organizing all of its advertising communications to maintain uniformity. This procedure is known as integrated marketing communications. Thus, the correct option is (b) integrated marketing communications.
What is integrated marketing communications?A strategy for ensuring that all brand encounters received by a consumer or prospect for a product, service, or organization are relevant to that individual and consistent over time. These include advertising, direct marketing, web marketing, sales promotion, and public relations.
Coke's'share a coke with' campaign, which leveraged cohesive messaging across TV, Social, Outdoor, and Display, resulted in a 7% increase in Coke consumption by the target demographic, making it one of the most successful Coke ads in history.
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which statement is true of markup pricing? multiple choice it is not very effective at maximizing profits. it is one of the least used pricing tactics. it involves pricing a product higher than competitors in order to promote an image of superior quality. it is the most difficult of the pricing tactics to implement. it is estimated by adding a certain amount to the profit of a product to set the final price.
The statement true to markup pricing is It is estimated by adding a certain amount to the profit of a product to set the final price.
What is markup pricing ?The term "markup pricing" describes the discrepancy between an item's retail price and the cost to create and market it for sale. The markup is typically specified as a fixed percentage, and it is calculated by adding that to the item's real cost.You must factor in the particular expenses of exporting goods, such as transportation, customs tariffs, or intermediary margins, when determining markup pricing in international trade.The precise markup a company uses will vary based on its requirements, its type of business, and the sector it operates in. While some industries can afford to mark up their products and services by a relatively small percentage, others can afford to mark them up by a very large amount.Although they both aid in the analysis of the same transaction, markups and profit margins give you access to different kinds of data. A profit margin is the difference between revenue and cost of goods sold, expressed as a percentage of revenue.
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kehlani started a new job in a print shop. she worries about the different chemicals in the workplace, so she requests information about them from her employer. which employee right under the osh act is kehlani exercising?
Kehlani started a new job in a print shop. She worries about the different chemicals in the workplace, so she requests information about them from her employer. Under the OSH Act, Kehlani is exercising her right to have dangerous substances identified.
The workplace is a place where employee have certain rights that must be respected by their employers. These rights include the right to a safe and healthy working environment, the right to fair wages and working hours, and the right to freedom from discrimination and harassment.
When these rights are violated, employees have the right to file a complaint with the appropriate authorities.
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it is good to use credit for: group of answer choices buying groceries. dining at a restaurant. buying a car. visiting a tourist destination. paying rent for your home.
Instead of buying groceries and dining out, it is wise to use credit to purchase a car.
Describe credit cards.A small, rectangular piece of plastic or metal known as a credit card, which is issued by a bank or another financial institution, enables its owner to borrow money in order to pay for goods and services at establishments that accept credit cards. Credit cards impose the requirement that cardholders repay the borrowed cash in full or over time, either by the billing date or at a later period, together with any applicable interest and any other agreed-upon costs.
In addition to the standard credit line, the credit card issuer may also offer cardholders a separate cash line of credit (LOC), which enables them to borrow money in the form of cash advances that can be accessed through bank teller machines, ATMs, or convenience checks from their credit cards.
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wickland company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $82,000. the machine's useful life is estimated to be 10 years, or 260,000 units of product, with a $8,000 salvage value. during its second year, the machine produces 20,800 units of product. determine the machines' second year depreciation under the units-of-production method.
The machines' units-of-production method second year depreciation is $14800.
Over time, an asset loses value due to use, damage from use, or obsolescence. This reduction is measured using depreciation. The depreciation, or loss in value, of an asset may also be influenced by other variables, such as bad market conditions. Subtract the asset's cost from its salvage value to determine the asset's straight-line depreciation. Depreciable basis is the total that can be written off as a result. The useful life of the item is reduced by this amount.
Depreciation Cost - Salvage Value / Useful Life = Straight Line Method
Wickland Corporation
Machine price: $820,000
Remainder worth of $8,000
10 years is the useful life.
Working:
$82000-$8,000/5 is the depreciation straight line method.
Straight Line Depreciation = 74000/5
Straight Line Method Depreciation = $14,800
Depreciation costs for the second year, calculated using the straight-line technique, would be: $14800
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if a paper mill shuts down its operations for three months so that it produces nothing, which part of its cost is reduced to zero?
The variable cost of a paper mill is reduced to zero if it stops production for three months.
What is a variable cost?A variable cost is a type of business expense that varies depending on how much a company produces or sells. Variable expenses grow and fall with changes in production, depending on a company's amount of sales.
Examples of variable costs include raw material and packaging costs for manufacturing companies, as well as credit card transaction fees and shipping costs for retail businesses, which fluctuate with sales. A fixed cost can be contrasted with a variable cost.
What Is the Total Variable Cost Formula?
Every unit of production should ideally have the same amount of variable expenses because they scale together. As a result, the total output quantity can be multiplied by the unit variable cost to determine total variable costs.
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what does you have reached the purchase limit for this item on amazon mean if you haven't bought it before??
It means that for a month you can't buy the same category of product from the same account.
Why does this happens?
In order to ensure that maximum customers benefit from their selection and prices, sometimes they limit their quantities for certain of their products. The limits vary from 999 units of that items to their cart.
The product limit can vary accordingly to the situation needs. Therefore the product limit can vary according to the availability of product, supply chain mechanism and the user.
The company limits in order to avoid bulk orders by company, gives chances to other companies.
Hence, It means that for a month you can't buy the same category of product from the same account.
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Which best describes the flow of overhead costs in an activity-based costing system?.
Overhead costs to activity costs pools to cost drivers to products best describes the flow of overhead costs in an activity-based costing system.
The term "overhead" describes continuing business costs that aren't directly related to providing a good or service. It is crucial for budgeting as well as for figuring out how much a business must charge for its goods or services in order to turn a profit.
Expenses that are incurred to support the business but are not specifically tied to a product or service are collectively referred to as overhead.
ABC is a technique for allocating overhead and indirect costs, such salaries and utilities, to goods and services. The ABC system of cost accounting is built around activities, which are defined as any occasion, project, or task with a clear objective.
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write how vermicompost is prepared in a pit
Explanation:
Vermicomposting pits are mainly used by farmers. These farmers dig a large hole that serves the purpose of burying worms and organic waste material. Pits made for vermicomposting are usually 1 m deep and 1.5 ms wide.
what two outcomes would be considered part of the feedback loop in the communication process? multiple select question. a retailer attributes an increase in sales to its purchase of advertising in sunday's paper. a manufacturer customizes its message for consumers using direct marketing. a consumer purchases a used car as a result of the interaction with a salesperson. a firm issues a press release about an upcoming charity event it is sponsoring.
A retailer attributes an increase in sales to its purchase of advertising in Sunday's paper and A consumer purchases a used car as a result of the interaction with a salesperson are the part of the feedback loop.
A feedback loop is a component of a system where some (or all) of the output is used as input for subsequent operations. There are at least four stages in each feedback loop. Input is produced in the first stage. The second stage involves capturing and storing input. The third stage involves the analysis of the input, and the fourth stage involves the use of the analysis's conclusions to make decisions.
Loops in feedback can be positive or negative. Negative feedback loops are useful for maintaining an ideal state within predetermined bounds and are self-regulating. A classic illustration of a self-regulating negative feedback loop is an outdated home thermostat that uses bang bang control to turn on or off a furnace.
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the individual designated by a business organization to receive service of process for the business is known as: group of answer choices the general manager. the chairman of the board of directors. the attorney for the corporation. the chief operating officer (ceo.) the registered agent.
The registered agent is the professional responsible for receiving the process service for the business.
What is a registered agent?It is an individual who has a central responsibility for maintaining the compliance of organizational processes through compliance with federal, state and local laws.
This professional is responsible for receiving the company's official documents and communications, analyzing them and forwarding them to the appropriate person in the company.
Therefore, there are several benefits for companies that have a registered agent, the main one being the company's legal compliance, which is essential for it to be able to carry out its operations effectively and transparently, demonstrating reliability to its stakeholders.
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what can listing agents prepare for their clients to give them unofficial estimates of all closing costs?
Listing agents can prepare seller net sheets for their clients to give them unofficial estimates of all closing costs.
What is a Listing agent?An authorized real estate agent who represents the seller in a deal is known as a listing agent. It is the job of listing agents to guide sellers through each stage of the sale. In order to price homes, listing agents first conduct comparative market evaluations. They then produce web listings and sales materials to sell the properties. They host open houses after the homes are posted and show and walk-through clients around the properties. To make sure their clients are receiving the best price and conditions, they interact with buyer's agents, assess, and negotiate offers. Agents in real estate who work for sellers are referred to by a variety of words. Many people have been confused by the prevalence of these synonyms.
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______ are important because they provide utilities to consumers and have a significant positive impact on the economy.
Retailers are important because they provide utilities to consumers and cause a significant positive impact on the economy.
A retailer is someone or a company where you buy products. In most cases, retailers buy their products from manufacturers. They buy products from wholesalers or manufacturers and then sell them in small amounts to customers. Consumer utilities are one way they add value. They have an advantageous effect on the economy.
Retailers serve as a crucial conduit between producers and consumers. They are crucial to the whole distribution chain as the last point of sale. They do, in fact, offer services to both consumers and wholesalers. The consumer is the most important retail principle to grasp; they should be at the center of your business, and everything you do should be focused on them.
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thomas newton has built his career selling livestock at auction. as a supporter of the newly elected president, he has been offered a job in the department of transportation even though he knows little about transportatiohn issues. what is this an example of?
The beginning of the Civil War, the expansion of the federal bureaucracy, an amendment to the Constitution, and the election of President John Adams
By appointing the heads of the fifteen cabinet departments and many independent executive agencies, including the CIA, EPA, and Federal Bureau of Investigation, the president exerts direct control over the bureaucracies. The Senate must approve these appointments to the cabinet and agencies.
What is a nonprofit organization?
Independent Agencies operate independently of the presidency and are not part of the executive branch. Most of the time, Congress created them to deal with issues that have become too complicated for standard legislation to handle.
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On august 1, , , inc. , sold equipment and accepted a six-month, %, note receivable. year-end is december 31. How much interest revenue should accrue on december 31, ?.
Interest revenue that should accrue on december 31 is $1,000.
It seems the equation is not complete because there is a missing part. The complete question can be seen below:
On August 1, 2016, Hozore, Inc., sold equipment and accepted a six-month, 8% $30,000 note receivable. Hozore's year-end is December 31. How much interest revenue should Hozore accrue on December 31, 2016?
To determine the interest revenue, we can use this formula:
= Principle quantity × rate × period
= $30,000 x 0.08 x 6/12
= $2,400 x 0.5
= $1,200
Interest increased from 1 August- 31 August Gregorian calendar months:
= (Interest quantity ÷ 6 months) × 5 months
= ($1,200 : 6) x 5
= $200 x 5
= $1,000
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All costs associated with a machine after it is operational are expensed in the period they are incurred. This statement is.
All costs associated with a machine after it is operational are expensed in the period they are incurred. This statement is false.
Which of the costs are generally expensed as incurred?
Costs associated with both research and development must typically be deducted as they are incurred under US GAAP. Furthermore, certain expenditures associated with software development must be capitalized in accordance with US GAAP. Until the technological viability of a software product is demonstrated, the expenditures paid during its development are expensed.
After then, the costs are capitalized. Similar to this, businesses deduct the expenses associated with developing software for internal use until it is likely that the project will be finished and the program will be utilized as intended. The development expenditures are then capitalized at that point.
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due to various fraudulent business practices and accounting coverups in the early 2000's, congress enacted the sarbanes-oxley act of 2002. the act was responsible for establishing a new oversight board for public accountants called the
The Sarbanes-Oxley Act of 2002 was established in response to many illegal company practices and accounting coverups in the early 2000s. The legislation was responsible for establishing the Public Company Accounting Oversight Board, a new oversight board for public accountants. Thus, the right answer is the Public Company Accounting Oversight Board.
What is the Public Company Accounting Oversight Board?The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board as a nonprofit corporation to oversee audits of public companies and other issuers in order to protect investors' interests and further the public interest in the preparation of informative, accurate, and independent audit reports. To improve investor safety, the PCAOB also regulates broker-dealer audits, including compliance reports filed under federal securities laws. The US Securities and Exchange Commission must approve all PCAOB rules and standards.
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