When we collect and store data, we often want to capture specific properties or characteristics of a particular entity. These properties or characteristics can provide valuable insights into the entity and help us make informed decisions.
For example, if we were collecting data about students in a school, the properties or characteristics of each student that we might want to capture could include their name, date of birth, address, grade level, and more.
In order to effectively collect and store data about an entity, it is important to identify the relevant properties or characteristics of that entity. This information can then be used to design a data collection form or database to capture and store the data in a structured and organized manner.
It is also important to consider the quality and accuracy of the data that is collected, as well as the methods used to collect and store the data. This can ensure that the data collected accurately represents the properties or characteristics of the entity and can be used to make informed decisions or analyze trends.
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why do investors require that the firm's cost of equity exceed its cost of debt?
Investors demand that the company's cost of equity surpass its cost of debt due to the tax benefits associated with interest payments.
Depending on the parties involved, there are two distinct ideas referred to as the "cost of equity." The required rate of return on an equity investment, if you're the investor, is known as the cost of equity. If you are the business, the required rate of return on a certain project or investment is determined by the cost of equity. A business can raise cash using either debt or equity. Debt is less expensive, but the corporation has to repay it. Although equity does not require repayment, it typically costs more than borrowed capital because interest payments are tax deductible.
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Short-term obligations(including callable obligations) that are expected to be refinanced on a long-term basis can be reported as noncurrent, rather than current, liabilities only if two conditions are met:
First, the entity must have the intention and ability to refinance the liability on a long-term basis. This means that the entity must have an adequate source of funds to refinance the liability or access to a market to refinance the liability.
Second, refinancing must take place under conditions that are reasonable in relation to the current market. This means that the refinancing must be done at a rate or terms that are comparable to the rate or terms offered in the current market for similar obligations. If these two conditions are met, the liability can be reported as non-current rather than current liabilities.
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what part of the social communication model is not a part of written communication?
Answer: The noise and Feedback portion are not the part of written communication model.
Explanation:
The audience can not talk back when someone write a note. The noise and feedback portion is not the part of written communication model because audience is not present to hear the message in person.
The noise and feedback components are not part of the communication model described. Only the feedback part is missing. Even if you write a note, the audience cannot reply.
My audience is not present to hear the messages in person, so the noise and feedback portion is not part of the written communication. If someone writes a note, the audience cannot react. The noise and feedback part is not part of the written communication model. Because the audience isn't there to hear the message in person. social communication model. You, the sender, have an idea. Put those thoughts into words (coding). The message leaves your mouth and is decrypted (processed) by your colleague who is the recipient. The recipient determines the meaning of your words as a result of this decoding process.
Social communication model. Communication suggests a linear process. There is a message sender - let's say you speak. You put your thoughts into words.
Potential problems with social communication models include information overload, distraction, inefficiency, and the challenge of maintaining a healthy work-life balance.
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Technical AnalysisThis is the price, MACD and slow stochastics of Apple. The time period is 2019/05/20 to 2020/05/20.1, What is the support and resistance?2, Explain what the MACD is.3, Indicate when the MACD indicates a buy or sell. Label and highlight them.4, Does stochastics indicate a buy or sell currently? Why or why not?5, In retrospect, based on the chart blow, what kind of mindset do you need from a technical perspective so that you may catch AAPL's rise from 320 to the current 505 per share? In other word, what do you learn w.r.t. support/resistance, or MACD in this case?
Technical analysis is a marketing technique that aids investors evaluate investments and uncover trading strategies by researching statistical trends gathered from traders, such as market movements and volume.
Unlike financial analysis, which aims to predict a security's value based on financial measures like sales and earnings, data analysis concentrates on the analysis of price and volume. Technical analysts claim that past trading activity and sales prices can be effective indicators of future market volatility for an asset. Fundamental analysis is based on a business's financials as oppose to price action, which focuses on sudden price patterns and trade trends. Technical methodologies are used to assess how demand and availability affect variations in price, volume, and variance.
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products which are actively searched by people known as
Products that are actively searched by people are known as "in-demand products." These are products that consumers are actively seeking out and looking to purchase.
They can be products that fulfill a specific need or want, are high-quality and well-regarded, or are simply popular or trendy at the moment. In-demand products can vary greatly depending on the market and consumer preferences. Marketers and businesses often try to identify these in-demand products and develop strategies to make their own products more appealing to consumers. Businesses and marketers are often interested in identifying in-demand products, as this information can help them to create more appealing and successful products. By understanding consumer needs, desires, and purchasing habits, companies can create products that meet those needs and generate demand among consumers. In-demand products are also attractive to investors and businesses looking to enter a new market, as they offer the potential for high sales and profits.
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what factors decrease the risk of creating a new venture (select all that apply.)
1. Comprehensive Business Plan: A good business plan should include industry research, a marketing strategy, a budget and financial projections, a timeline for milestones, and a description of the product or service you plan to offer.
2. Strategic Partnerships: Strong relationships with strategic partners can help reduce the risks of starting a new venture. In addition, partners can provide capital and resources, as well as help create a network of contacts that can be beneficial to the business.
3. Proper Market Research: Conducting proper market research before starting a new business is essential to identify potential customers and the need for your product or service.
4. Low overhead costs: Keeping overhead costs low can help reduce the risks involved in starting a new business. Additionally, a scalable business model can help you adapt to market changes and respond quickly to customer needs.
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3 what is a money market? ""treasury bills are an important short term source of finance for the government"". discuss
A money market is a sector of the financial market where short-term debt securities with high liquidity and low credit risk are traded. These securities include Treasury bills, commercial paper, and certificates of deposit.
Treasury bills are an important short-term source of finance for the government as they provide a way for the government to raise funds quickly and efficiently.
Treasury bills are issued for a specific term, usually between 1 and 52 weeks, and are backed by the full faith and credit of the government. They are considered to be a low-risk investment as they are issued by the government, and they offer investors a low rate of return in exchange for the low risk.
Treasury bills are an attractive investment option for investors who need to park their funds for a short period of time and are seeking a low-risk, low-return investment. By issuing Treasury bills, the government can quickly and efficiently raise funds to finance its operations and pay for its expenditures.
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a period when business activity begins to speed up in the business cycle. is called
A period when business activity begins to speed up and expand is referred to as an "economic expansion" or a "business cycle expansion."
This is a time when the overall level of economic activity in a country begins to grow and companies experience increased demand for their products and services.
During an economic expansion, business activity typically increases as people have more disposable income to spend on goods and services, and companies begin to invest more in new projects and expand their operations.
This increased activity creates jobs and drives economic growth, leading to increased consumer confidence and spending.
It's important to note that business activity does not always remain at high levels, and the business cycle includes periods of growth as well as periods of contraction, when economic activity slows down.
The business cycle is a continuous pattern of expansion and contraction, and understanding these trends can help individuals, businesses, and governments make informed decisions.
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why is forecasting important in organizations, especially as related to understanding the relevant time horizon to develop a forecast against? what are some examples from industry?
Long-term demand estimates are necessary for capacity planning. As the forecasting horizon grows longer, forecast accuracy has a tendency to decrease.
A short-range prediction is one with a time span of between three months and three years. The process of predicting what will occur in the near future (often hour by hour) and using that information to develop a plan to meet those demands is known as short-term forecasting. Use your support team as an illustration. Forecasts on a monthly, weekly, or even daily basis might already exist. Short Term Forecasting, on the other hand, goes much further to help you manage a team that is as effective and productive as feasible. For instance, your present forecast indicates that there will be a lot of client involvement the next week. Although it's a nice place to start, there is still insufficient knowledge to effectively staff.
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which of the three monetary policy tools is the most powerful? why?
Of the three monetary policy tools, Open market operations is the most powerful.
Interest rates and credit restrictions are managed by monetary policy, which affects the degree of economic activity. Open market operations, changing reserve requirements and changing the discount rate are the three conventional methods a central bank might use to effectuate monetary policy in the economy.
When the central bank engages in open market operations to affect the amount of bank reserves and the level of interest rates, it sells or buys U.S. Treasury bonds. The federal funds rate is the precise interest rate that open market operations target. As a result, even though it is a very short-term interest rate, it accurately captures the state of the financial markets' credit.
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what elements are likely to make employees reject a persuasive message? (choose every correct answer.)
The elements that are likely to make employees reject a persuasive message:
-an authoritarian tone
-negative wording
-lack of validation
What is persuasive message?When someone tries to persuade a person or group to do something specific, they are using a persuasive message at work. Sales and marketing are the two types of persuasive messages used in the workplace to accomplish organisational goals.
Selling something is the act of doing so, whereas marketing refers to the activities used to inform, educate, and promote consumers about a good or service.
In the neighbourhood, Gigantic Homes is a seller of opulent homes. They rely on persuasive messages to persuade customers to buy their exquisite homes.
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according to the leadership requirements model, what leadership competencies do authentic leaders display
Developing others and culture. Teamwork, emotional intelligence, business acumen, strategic thinking, professionalism. An authentic leader is someone who is passionate about their profession.
Dedicated to the organisation, and has an eye toward the future, to name just a few characteristics. Genuine leaders are individuals who are true to their core values and to themselves. "Authentic leadership is a type of leadership that emphasises transparency and strategic leader behaviour and fosters open sharing of information necessary to make choices while welcoming followers' views," according to the Harvard Business Review. Authentic leadership is about being yourself and making place for others, according to the experts.
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what type of mco does not use primary care physicians as gatekeepers and seeks to improve health care and reduce costs by using groups of physicians, hospitals, and other health care providers to coordinate cost-effective, quality health care and to reward positive patient outcomes by sharing cost-savings with providers?
This type of Managed Care Organization (MCO) is called an Accountable Care Organization (ACO).
An Accountable Care Organization (ACO) is a type of managed care organization in the US healthcare system. It aims to improve healthcare quality and reduce costs by having groups of physicians, hospitals, and other healthcare providers work together to coordinate cost-effective and high-quality care for patients.
In an ACO, the providers are incentivized to deliver positive patient outcomes and are financially rewarded with a share of the cost savings generated from their efforts. Unlike traditional managed care models that use primary care physicians as gatekeepers, ACOs do not have this requirement and focus on coordinating care across the entire healthcare system
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A marketer is wondering if environmentally-friendly packaging should be used for the firm's product since it costs more to do so. This ethical question relates to which element of the marketing mix? a.product b.promotion c.brand d. marketing
A marketer is wondering if environmentally-friendly packaging should be used for the firm's product since it costs more to do so. This ethical question relates to product. In this case option A is correct.
Large corporations like Coca-Cola, Disney, and Dell typically concentrate their traditional marketing efforts on maintaining and expanding their current brands and programs.
These types of businesses benefit from more resources, including strong financial backing and a large staff of marketing experts to guide their efforts. However, marketing for small- and medium-sized businesses (those with 500 or fewer employees and less than $7.5 million in annual receipts, as defined by the Small Business Administration3) is different due to the lack of financial resources and the fact that the entrepreneur is frequently the only one in charge of marketing initiatives. If they have money set aside for marketing costs, they might hire a small agency on a project-by-project basis.
Small start-ups frequently lack resources, as you have learned from previous chapters.
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your friend's electric skateboard suddenly stopped while in use. your friend fell forward, hit the ground, and suffered bruises. your friend acknowledges that it was raining and that they didn't wear elbow or knee pads or a helmet. however, they claim the skateboard company breached their duty for not testing for this type of equipment failure. the company responds that they have no liability here, that your friend has all the blame. the skateboard manual includes warnings against use during rain and for wearing safety equipment. which type of defense is the company using? consent comparative negligence self-defense assumption of risk
Consent comparative negligence self-defense assumption of risk is type of defense is the company using.
An affirmative defense is one that raises the assumption of risk. These defenses rely on information that in some manner lessens or disproves the defendant's responsibility or guilt. The defendant cannot be held accountable for the plaintiff's injuries if the plaintiff can establish with factual proof that the accident or harm was caused principally by the plaintiff's acts.
Even in criminal proceedings, the burden of proof is assumed by legal teams who use an affirmative defense. It is typically their job to present the evidence because they are counting on it to clear their client.
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Answer:
I suspect it is Comparative negligence, however I'm not sure.
It is definitely not Consent and Assumption of risk I got those wrong on the test.
Explanation:
bookmark question for later an auditing firm audits 112 private companies and no public issuers. how often can this firm expect to be the subject of a pcaob inspection? every other year every year never, the firm is not subject to pcaob inspections every three years
In general, the PCAOB inspects each firm either annually or triennially (i.e., once every three years). If a firm provides audit opinions for more than 100 issuers, the PCAOB inspects them annually.
What is PCAOB inspection?
A PCAOB inspection is designed to assess the firm's compliance with PCAOB standards and rules, as well as other regulatory and professional requirements that are applicable to the firm's system of quality control and to the portions of audits selected for review. The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports.
In performing a regular inspection, the staff of the Division of Registration and Inspections and any other person authorized by the Board to participate in the inspection shall take such steps, and perform such procedures, as the Board determines are necessary or appropriate.
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Typically, the PCAOB inspects each company either yearly or every three years (i.e., once every three years). A firm is inspected yearly by the PCAOB if it provides audit opinions for more than 100 issuers.
What is PCAOB inspection?A PCAOB inspection is intended to evaluate the firm's adherence to PCAOB standards and guidelines as well as other legal and ethical requirements that are relevant to the firm's system of quality control and to the audits selected for review. The PCAOB is a non-profit organisation created by Congress to oversee the audits of public companies in order to safeguard investors and advance the public interest in the creation of informative, accurate, and independent audit reports.
The Division of Registration and Inspections staff and any other individual invited by the Board to take part in the inspection must follow any procedures and steps deemed necessary or appropriate by the Board when conducting a routine inspection.
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an unfavorable variance of $5,000 in cost of goods sold is determined by comparing the actual results (10,000 units) and the flexible budget (10,000 units). what type of variance is described?
The variance described is a cost volume variance which occurs when actual sales volume differs from the budgeted sales volume
This type of variance leads to a difference in the expected and actual costs of goods sold. In this case, the actual sales volume of 10,000 units was the same as the budgeted sales volume of 10,000 units, but the actual cost of goods sold was $5,000 higher than the budgeted cost of goods sold.
This indicates that the actual cost per unit of goods sold was higher than expected, leading to an unfavorable variance of $5,000. This could be due to factors such as higher-than-expected material costs, labor costs, or overhead costs.
To address this variance, management will need to review the reasons for the higher costs and make changes to the budget or the manufacturing process to reduce costs in the future.
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Answer:
An unfavorable variance of $5,000 in cost of goods sold is determined by comparing the actual results (10,000 units) and the flexible budget (10,000 units). What type of variance is described?
- Spending variance
An unfavorable variance of $5,000 in sales is determined by comparing the flexible budget (9,000 units) and the planning budget (10,000 units). What type of variance is described?
-Activity variance
Explanation:
the financial sector of u.s. business is the provider of loanable funds and the user of loanable funds. multiple choice question.
The financial sector of the US business is the largest provider of loanable funds and the largest user of loanable funds.
What is financial?Financial refers to or concerns money. The corporation is having financial issues, according to the financial advisors to the government. Synonyms include budgeting, business, and economics. additional words for financial
The financial services sector in the US is estimated to be valued at $4.85 trillion. The industry generated this amount of money as of 2021, and as of that year, it contributed $1.5 trillion to the country's overall GDP or 7.4% of it.
Therefore, The U.S. financial sector is considered the largest provider of funds.
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the idea of an economic tradeoff means that the idea of an economic tradeoff means that to achieve one end we must sacrifice the other. there is no such thing as a free lunch. there is an opportunity cost to most resource allocations. all of the above.
The idea of an economic tradeoff means that the all of the above are:
To achieve one end we must sacrifice the other.There is no such thing as a free lunch.There is an opportunity cost to most resource allocations. Thus, option (d) is correct. What is economic?The term economic refers to the process of production, distribution, and consumption activities. The main components of economies are products and services. The primary sector of the economy is the industrial sector. The family (consumption) and company (product sales) are both parts of the economy.
To accomplish one aim, we must forfeit the other, according to the concept of economic trade. There is nothing as a free lunch, and most resource allocations come with an opportunity cost.
As a result, the significance of the economic are the aforementioned. Therefore, option (d) is correct.
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suggesting to a bed wetter that he pretend to have wet his bed and that his mother pretend to help is a strategic technique associated with:
An allied strategic planning is to advise a bedwetter to claim that he wet his bed and that his mother helped him.
What is a strategic planning?Strategic planning is the capacity to formulate comprehensive business plans, carry them out, and assess the outcomes in light of the broad long-term objectives or aspirations of a corporation. In order to achieve a company's strategic goals, this approach emphasizes the integration of several business areas, including marketing, accounting and finance, and human resources. Many essential concepts are shared by strategic planning and management. Upper-level management of a company must give the strategic planning process a lot of thought and planning. In an ideal world, management of a company will finally select a strategy that can be implemented cost-effectively, with a high possibility of success, and without assuming too much financial risk in order to create good outcomes.
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which of the following actions would be likely to shorten the cash conversion cycle? a. begin to take cash discounts on inventory purchases; the terms are 2/10 net 30. b. adopt a new manufacturing process that saves some labor costs but slows down the conversion of raw materials to finished goods from 10 days to 20 days.
The option a. Taking cash discounts on inventory purchases (2/10 net 30) would be likely to shorten the cash conversion cycle.
The cash conversion cycle (CCC) measures the length of time it takes for a company to convert its investments in inventory and other resources into cash. A shorter CCC is generally desirable because it means that a company is able to generate cash more quickly and efficiently.
Taking cash discounts on inventory purchases (2/10 net 30) can shorten the CCC by allowing the company to pay its suppliers more quickly and receive payment from its customers more slowly.
The terms 2/10 net 30 mean that the company will receive a 2% discount if it pays its bills within 10 days, otherwise it must pay the full amount within 30 days. By taking advantage of the discount, the company can reduce the amount of time it takes to pay its suppliers and thus reduce its CCC.
Hence , correct option is A.Taking cash discounts on inventory purchases (2/10 net 30)
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According to the closed economy IS-LM model, what happens to the interest rate, income, consumption, and investment under the following circumstances? Use diagrams and explain.
(a) The central bank decreases the money supply
(b) (i) The government increases taxes. (ii) What could the central bank do to keep income (i.e., GDP) constant?
(c) After the invention of a new high speed computer chip, many firms decide to invest in upgrading their computer systems.
(a) The decrease in money supply leads to a higher interest rate and a lower income. This leads to a decrease in consumption and investment. The IS curve shifts to the left, intersecting the LM curve at a higher interest rate.
(b) (i) An increase in taxes reduces disposable income, leading to a decrease in consumption and a decrease in aggregate demand. The IS curve shifts to the left.
(b) (ii) To keep income constant, the central bank could increase the money supply, lowering the interest rate and stimulating investment.
(c) An increase in investment due to technological advancements shifts the IS curve to the right, increasing income and lowering the interest rate. The higher income leads to an increase in consumption and further investment, creating a positive feedback loop. The central bank may need to decrease the money supply to keep inflation in check.
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a news magazine carries an article about the u.s. economy. it describes how the economy grew for several years. then it describes a long period of contraction. what is the main subject of this article?
A news magazine carries an article about the u.s. economy. it describes how the economy grew for several years. then it describes a long period of contraction. The main subject of this article is the current state of the US economy.
The article provides a detailed overview of the US economy, discussing how it has grown and contracted over the past few years. It begins by discussing how the US economy has seen steady growth since the end of the Great Recession in 2009. It then goes on to describe how the US economy has been in a state of contraction since the beginning of 2020 due to the impact of the COVID-19 pandemic. The article highlights the impact of the pandemic on the US economy, including job losses, reduced consumer spending, and a decrease in GDP.
It also touches on the potential for economic recovery in the near future, discussing the measures the government and private sector are taking to stimulate the economy. Overall, the article provides a comprehensive overview of the US economy, discussing the recent period of growth and the more recent period of contraction, as well as the potential for economic recovery. It shows how economic events can have a major impact on the US economy and provides insight into the measures being taken to ensure a strong recovery.
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Over time...A. the demand for loanable funds trends upward, the supply of loanable funds trends downward, and the real interest rate trends upward B. the demand for loanable funds trends downward, the supply of loanable funds trends upward, and the real interest rate trends upwardC. both the demand for loanable funds and the supply of loanable funds trend upward, but the real interest rate has no trend D. both the demand for loanable funds and the supply of loanable funds trend upward, and the real interest rate also trends upward
Real interest rates are defined as interest rates that have been adjusted to account for the impacts of inflation and take into account the debtor's true cost of borrowing money as well as the lender's actual yield.
The time-preference rate for current products over future goods is typically reflected in the real interest rate. A clear method of determining the actual interest rate is to make a distinction between the inflation rate and the nominal interest rate.Numerous areas of the financial sector, including the insurance business and particularly the life insurance sector, are significantly impacted by the interest rate environment. Since the 1980s, interest rates, of which there are many, have been declining steadily However, interest rates were historically low from the 2008 financial crisis and the Great Recession (2007–2009) until quite recently.
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if an agent forgot to fill in an effective date in paragraph 9 of the real estate contract, is the contract still valid?
It depends on whether the contract is valid or not if an agent forgot to fill in an effective date in paragraph 9 of the real estate contract.
Whether the contract is still valid if an effective date was forgotten in paragraph 9 of a real estate contract depends on the specific jurisdiction and the content of the contract. In some cases, the contract may still be binding, while in others, it may not be enforceable.
If the contract includes specific provisions regarding the consequences of an omitted effective date, the contract may still be valid. Additionally, if the parties have begun performance under the contract, this can sometimes indicate an implicit agreement to the terms, including the effective date.
However, if the contract is silent on the issue and the omission of the effective date is considered a material term, the contract may not be considered valid. It is recommended to consult a real estate attorney to determine the enforceability of the contract in a specific case.
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a bank quotes you an interest rate of 14% per annum with quarterly compounding. what is the equivalent rate with continuous compounding?
The equivalent continuously compounded interest rate is approximately 3.48%.
given that
an interest rate of 14% per annum with quarterly compounding.
Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit. It occurs when interest is reinvested, or added to the loaned capital rather than paid out, or when the borrower is required to pay it, so that interest is generated the next period on the principal amount plus any accumulated interest. In finance and economics, compound interest is common.
The equivalent continuously compounded interest rate, r, can be calculated using the formula:
r = ln(1 + (0.14 / 4))
where 0.14 is the annual interest rate and 4 is the number of times it is compounded per year.
Plugging in the numbers:
r = ln(1 + (0.14 / 4)) = ln(1 + 0.035) ≈ 0.0348
So, the equivalent continuously compounded interest rate is approximately 3.48%.
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a river tubing company rents tubes to go down the river. a one person tube rents for $20 and a tube that holds a cooler rents for $12.50. a group spends $270 to rent a total of 15 tubes. how many tubes of each kind did they rent?
Rental prices for a tube that fits one person are $20 and $12.50, respectively. The cost of renting 15 tubes for a group is $270. 11 one-person tubes and 4 cooler tubes, totalling 15, were employed by the organisation.
Let x be the quantity of cooler tubes and y be the quantity of one-person tubes. X + Y = 15 tubes were rented in total. The one-person tubes cost a total of 20x, while the cooler tubes cost a total of 12.50y. The tubes cost $270 in total (20x + 12.50y). These two equations may be used to find the answers to x and y. First, we'll change the second equation to read y = 15 - x: 20x + 12.50(15 - x) = $270. This calculation may be simplified to 20x + 187.50 - 12.50x = $270. Last but not least, we may find x by taking 7.50x away from both sides: 7.50x = $82.50, and x = 11. As a result, the group hired 4 cooler tubes and 11 one-person tubes totaling 15.
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When assessing a market’s potential an international marketer should consider:
O population, income, consumption patterns and geography
O income, infrastructure and information
O income, infrastructure, information and internationalisation
O consumption patterns, infrastructure and topology
O population, household size, geography
When assessing a market’s potential an international marketer should consider Population, Income, Consumption Patterns and Geography is the points that marketer consider. (A)
When assessing a market’s potential, an international marketer should consider several factors, including population, income, consumption patterns, and geography. These factors help the marketer understand the size and composition of the market, as well as the potential demand for goods and services.
Understanding the population of a market, including its size, demographic makeup, and growth rate, is important in determining the potential for a product or service.
Income and consumption patterns provide information on the purchasing power and spending habits of consumers in the market, while geography provides information on the accessibility and distribution of the market. These factors are critical in assessing the potential of a market and in developing effective marketing strategies.
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Sanford and Son sells athletic equipment. The following events, related to a special customer order, occur as described below: • September 1, 2019. Sanford receives the special order for 300 football helmets at a selling price of $100 each including delivery at a future convenient time and location. The customer, with whom Sanford has had a long-term trouble-free relationship, pays $5,000 as a deposit, and agrees to pay the rest on delivery. Sanford immediately orders $20,000 worth of helmets from its supplier and pays a $5.000 deposit for them • September 20 2019. Sanford pays a $15,000 balance due to the supplier upon delivery of the helmets to its warehouse • October 1, 2019. The customer calls for delivery of the helmets and pays the balance of $25,000 when they arrive at the customer site. On September 1, 2019, which one of the following accounting entries related to the $30,000 special order, should be recorded in Sanford's financial accounting system? O debit cash $5,000, debit accounts receivable $25,000 credit sales $30,000O debit cash $5,000, credit sales $5,000 debit cash $5,000, O debit accounts receivable $25,000; credit advance from customers $30,000O debit cash $5,000, credit advance from customers $5,000
For the special order of $30,000, the accounting entries that should be recorded in Sanford's financial accounting system is: debit cash $5,000; debit accounts receivable $25,000; credit advance from customers $30,000. The Option C is correct.
What does special order mean?A special order transaction is typically used when a customer wishes to purchase an item that is not currently in stock at the store. For whatever reason, the item may be out of stock or unavailable. Any saleable item from the store's inventory can be designated as a special order item.
The journal entry for the $30,000 special order:
Date Accounting titles Debit Credit
Cash $5,000
Accounts receivable $25,000
Advance from customers $30,000.
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