A business plan is written by a current or prospective business owner to outline each area of their operation and to set goals for future expansion.
What constitutes a business plan's seven steps?
1.Executive Summary:A succinct synopsis of your company plan should be included in the first section. It needs to be nicely worded and brief. Your aim is to captivate readers and make them curious about your business.
2.Organization Description:This broad overview of your company should include who you are, how you work, and what your objectives are.
3.Items and Services:Put a clear emphasis on the benefits to the customer while outlining what you're selling.Include information on the suppliers, the costs of the goods or services, and the anticipated net income from the sale of those goods or services. Think about including diagrams or pictures.
4. Market analysis: Demonstrate your expertise in the field and share findings from in-depth market research. Include a thorough appendix with any research' findings.
5. Strategy and Implementation: Provide an overview of your sales and marketing strategies, as well as how you intend to put them into practice using an operating plan.
6. Organization and Management Team: Describe the hierarchical structure of your company. Name the company's owners, executive staff, and board of directors.
7. Financial plan and projections: After you've done a market study and established goals for your business, you should work with a competent accountant to produce this last component of your business plan.
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which of the following financial statements gives an accounting picture of property owned by a company and of claims against the property on a specific date?
Balance sheet gives an accounting picture of property owned by a company and of claims against the property on a specific date.
Properties owned is shown in the asset side of balance sheet.
A balance sheet is a summary of an individual's or organization's financial balances, whether it is a sole proprietorship, a business partnership, a corporation, a private limited company, or another organization such as the government or a not-for-profit entity.
A balance sheet provides a snapshot of your company's financial position at any given time. A balance sheet, along with an income statement and a cash flow statement, can assist business owners in evaluating their company's financial standing.
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two types of control are used extensively on projects, and both compare actual performance against the project plan. the first is steering control, where the work is compared to the plan on a continual basis to check progress. the second type of control used on projects is .
Two types of project controls in which the first is steering control where the work is compared to the plan on a continual basis to check progress and the second type of control used on projects is go/no go control.
Finding out if there is a problem and then changing direction by taking corrective action are the goals of having controls. Project management involves more than just waiting for things to go wrong before resolving them. The main thing is to have mechanisms in place to spot issues before they become obvious.
Monitoring and controlling a project entails keeping track of its progress, identifying any problems, and making the appropriate adjustments. Organizations must balance a number of tasks at this time, including: maintaining the timetable.
Go/no-go control involves testing to confirm that specific prerequisites are satisfied before a task is started. A certain area of the project may also apply this kind of control.
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when firms are interdependent, group of answer choices they can act independently of one another. then the market is perfectly competitive. one firm can ignore other companies in the market when making decisions. the profit of one firm depends on how its rivals respond to its strategic decisions.
The market is perfectly competitive when firms are interdependent.
What is competitive market?A competitive market is an economic term that refers to a marketplace with a large number of buyers and sellers where no single buyer or seller can influence the market. Competitive markets have no entry barriers, a large number of buyers and sellers, and homogeneous products.Market intelligence includes competitive market analysis. Data collection on various competitors is an essential step in the process. The company's marketing strategy, branding, marketing tactics, sales performance, brand equity, and so on are all examined in a competitive analysis of product lines and value propositions.The free entry and exit of firms, as well as the existence of homogeneous products, are two of the most important characteristics of the perfect market.To learn more about competitive market refer to :
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The total income generated from freelancing is higher than that of what three industries?.
For nearly $1 trillion, or almost 5% of the U.S. GDP, freelance income contributes more to the economy than industries such as construction and transportation and is on par with the information sector.
What is freelance?Freelance or freelance refers to a type of self-employment. Instead of being employed by a company, freelancers tend to work as self-employed, delivering their services on a contract or project basis.
Companies of all types and sizes can hire freelancers to complete a project or a task, but freelancers are responsible for paying their taxes, health insurance, pension and other personal contributions.
Since freelancers work for themselves, they must also cover their holiday costs and sick pay.
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sydney retailing (buyer) and troy wholesalers (seller) enter into the following transactions. may 11 sydney accepts delivery of $27,500 of merchandise it purchases for resale from troy: invoice dated may 11, terms 3/10, n/90, fob shipping point. the goods cost troy $18,425. sydney pays $495 cash to express shipping for delivery charges on the merchandise. may 12 sydney returns $1,200 of the $27,500 of goods to troy, who receives them the same day and restores them to its inventory. the returned goods had cost troy $804. may 20 sydney pays troy for the amount owed. troy receives the cash immediately.
A) Journal entry for Sydney retailing (buyer)
i)To record purchase of inventory on account
Date Account titles Debit Credit
May 11 Accounts Payable $27,500
Merchandise Inventory $27,500
ii)To record shipping expense paid
Date Account titles Debit Credit
May 11 Merchandise Inventory $ 495
Cash $ 495
iii) To record goods returned to seller
Date Account titles Debit Credit
May 12 Accounts Payable $1,200
Merchandise Inventory $1,200
iv To record payment on account.
Date Account titles Debit Credit
May 20 Accounts Payable $26300
Merchandise Inventory $789
Cash $25511
B) Journal entry for Troy - Seller
ii)To record sales of goods on account
Date Account titles Debit Credit
May 11 Accounts receivable $27,500
Sales Revenue $27,500
ii) To record cost of goods sold
Date Account titles Debit Credit
May 11 Cost of goods sold $18,425
Merchandise Inventory $18,425
III) To record sales return
Date Account titles Debit Credit
May 12 Sales returns and allowance $1,200
Account receivable $1,200
iv) To record cost of goods sold reversed for sales return
Date Account titles Debit Credit
May 12 Merchandise Inventory $804
Cost of goods sold $804
v) To record cash received for goods sold.
Date Account titles Debit Credit
May 20 Cash $26300
Sales discount $789
Account receivables $25511
What is retailing?Retailing is a distribution process that includes all the activities involved in selling a product directly to the final consumer (ie the person who intends to use the product). It includes the sale of goods and services from the point of purchase to the end user who intends to use the product.
Any trader who sells goods to an end user for non-commercial use or resale, whether as a manufacturer, wholesaler or retailer, is said to be involved in the retail process, regardless of how the goods are sold.
Retailer means any organization that derives the majority of its turnover from the retail trade. In the supply chain, retailers are the last link between the manufacturer and the consumer.
Therefore,
1. Accounts payable= Purchases− Purchase return
=$27500−$1,200
=$26300
Discount=Accounts payable X 3%
=$26300×0.03
=$789
2. Hence,
Accounts receivables= sales− sales return
=$27500−$1,200
=$26300
Discount=receivables X 3%26300
=$26300×0.03
=$789
The complete question is
sydney retailing (buyer) and troy wholesalers (seller) enter into the following transactions. may 11 sydney accepts delivery of $27,500 of merchandise it purchases for resale from troy: invoice dated may 11, terms 3/10, n/90, fob shipping point. the goods cost troy $18,425. sydney pays $495 cash to express shipping for delivery charges on the merchandise. may 12 sydney returns $1,200 of the $27,500 of goods to troy, who receives them the same day and restores them to its inventory. the returned goods had cost troy $804. may 20 sydney pays troy for the amount owed. troy receives the cash immediately.1. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. 2. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions.
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TRUE/FALSE. all employees can be successfully taught how to leave their home problems at home and their work problems at work.
Indeed, it is true that al employees should be taught how to demarcate between personal and professional problems.
When confronted with an employee's personal problem that affects the employee's work or that of other employees the manager should?
The personal lives of employees may have an impact on how well they do their duties and interact with clients, coworkers, and superiors. Employees are expected to meet performance standards and conduct themselves professionally even when they are dealing with major personal concerns at home. Employers can, however, uphold performance and behaviour standards at work while also being empathetic and supportive.concrete instances of undesirable behaviour and be explicit about the employer's expectations for improvement when dealing with a worker whose personal issues are affecting their performance at work. When these difficulties are brought up to the employee's notice in a caring manner, the person is likely to understand how personal matters are adversely influencing professional relationships and job performance.
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The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate the partnership when their capital balances are as follows: Field. $131500, Brown. $165,400; and Snow. $155,000. On May 31, the liquidation resulted in a loss of $407700. QS 12-13 (Algo) Part 2 2. Assume that the partner with a deficit pays cash to cover the deficit. Prepare the journal entries on May 31 to record the cash received to cover the deficit and the final disbursement of cash to the partners, View transaction list Journal entry worksheet < 1 2 Record the cash received to cover the deficit Note Entes det before credits Ceneral Journal Debit Credit Transaction (a)
a) Field capital= 4,200
b)Cash= 51,300
c) field Capital = 4,200
Solve it.We would need to perform the following calculations to determine each partner's capital account balance following the liquidation of assets and payment of creditors:
Field Brown Snow Total
Initial Expenditure $131,700 $167,700 $155,400 454,800
Distribution of total losses: 135,900, 135,900, 135,900, 407,700
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which of these would be an example of a ddos attack?an extortion attempt where hackers threaten to reveal names and social security information stolen from medical records databasesoverloading a popular social networking site with inbound messages in order to shut down access to the sitelaunching a targeted phishing campaign on a department of defense or other surveillance networkstealing proprietary data directly from mobile phones using a distributed network of difficult-to-trace online serviceslaunching tough-to-track click-fraud efforts
The example of DDos attack is b. Overloading a popular social networking site with inbound messages in order to shut down access to the site. DDos attack will make disrupting services of a host connected to network,
A denial-of-service attack or known as DDos In computing generally can be defined as a cyber-attack in which the perpetrator seeks to make a network resource or also machine unavailable to its intended users by temporarily or indefinitely disrupting services of a host connected to a network. The common example of DDos or also denial-of-service attack attack is UDP flooding, SYN flooding and DNS amplification.
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If the cash budget showed a projected cash shortage, the company would most likely
a. make fewer purchases of inventory so they could control costs.
b. lay off workers for that period.
c. arrange to borrow the necessary cash for that period.
d. cut salaries for that period.
c. arrange to borrow the necessary cash for that period
If the cash budget showed a projected cash shortage, the company would most likely c. arrange to borrow the necessary cash for that period.
In the field of business, companies face situations where there is a shortage in revenue. This may happen due to a new strategy implementation or due to a new project being launched due to which cash shortage in the company.
When a company faces a situation where there is a cash shortage, the company then takes a loan or borrows some money for that time being. Usually, if the money that is to be borrowed is in a large amount, then a contract is to be made, and signatures are taken from both parties.
When a cash budget is short, the company has no option but to borrow money in order to keep the process going.
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What are the disadvantages of trade protectionism?.
Disadvantages of protectionism are limited choice for customers, slow technological growth, and increased prices.
Protectionism is an outcome of protectionist trade policies that a government of a country adopts to protect and promote its domestic producers and sellers. Protectionism limits the choice of products and services for the customers as there is no access to foreign goods.
Protectionism also results in stagnation of technological adaptation in business and production as the producers are laid back due to no competition from outside. They will also increase the price as there are no foreign goods available for competition. Customers have to pay for the increased price irrespective of the improvement in the product.
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an advertisement that informs people what a company is, what it can do, and where it is located is referred to as a(n)
An advertisement that informs people what a company is, what it can do, and where it is located is referred to as a(n) Pioneering Ads.
Pioneering advertising refers back to the launch marketing campaign of a brand new product category, in place of the marketing of a unmarried product inside a evolved marketplace. The purpose of pioneering advertising is to inform consumers of the arrival of a completely new concept and provide an explanation for its benefits.
Pioneer advertising and marketing is the call given to the advertising and marketing campaign to launch a state-of-the-art product category. The motive of pioneer advertising and marketing is to inform clients what the product is, where it could be located, and how they could benefit from it
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which of the following occurs when a company provides financial support for an event such as the olympics or a concert? a. third-party endorsement b. sponsorship c. celebrity endorsement d. source credibility e. two-sided message
Sponsorship occurs when a company provides financial support for an event such as the Olympics or a concert.
What do you mean by sponsorship?The function or duty of a person or organization that promotes, aids, advises, or contributes to the funding of another person, a group, or a project: The money from your sponsorship will be used to pay the child's tuition and make sure they eat three meals a day.
How are sponsorships carried out?When a business donates money or resources to a good cause in exchange for prearranged marketing benefits, it is engaging in sponsorship. In exchange for supporting the organization, the business gains exposure by having their name and logo featured on objects like banners. T-shirts and other clothing.
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if the government auctions pollution permits, then firms with the highest marginal cost of pollution abatement will multiple choice question.
If the government auctions off pollution permits, then generally speaking firms with the highest marginal cost of pollution abatement will purchase the most permits
The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost. Divide the variation in production costs by the variation in quantity to determine marginal cost.
Manufacturers frequently use the economics and managerial accounting concept of marginal cost to determine the ideal production level. Manufacturers frequently consider the cost of increasing their production volumes by one unit.
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according to mill, the capital intensiveness of a business could serve as a barrier to entry. true false
It is accurate to say that Mill hypothesized that a business' high capital requirements would act as a barrier to entrance.
What is the biggest challenge to breaking into the field?The following are a few instances of typical entrance barriers: special tax incentives for existing enterprises, patent protections, well-known brands, committed customers, and significant switching costs. Another obstacle is the requirement that new enterprises obtain licenses or regulatory clearance before operating.
Why are there so many barriers in a certain industry?The most obvious entrance hurdles are high start-up costs and regulatory constraints, like those that mandate new enterprises get licenses or regulatory clearance prior to operation. Aside from that, the industries that are heavily regulated by the government are often the most difficult to enter.
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identify which of the following items is a noncash investing and financing activity that must be reported in a note to the statement of cash flows. (check all that apply.)
Retirement of debt by issuing stock
Lease of an asset in a long-term lease transaction
Repayment of a note with cash
Purchase of a plant asset with cash
Retirement of debt by issuing stock is a noncash investing and financing activity that must be reported in a note to the statement of cash flows.
Thus, the correct option is A.
What is noncash investing?Transactions that have an impact on recognized assets or liabilities but don't lead to actual cash revenues or outlays are referred to as non-cash investing and financing activities.
Instead, you should include a footnote in the financial statements' notes or at the bottom of the statement of cash flows to record non-cash investing and financing activities. A separate schedule or list might be used to disclose non-cash investing and financing activity.
The expenses that are listed on the income statement but do not really involve a cash transaction are known as non-cash expenses.
Depreciation is one such noncash expense. There is no cash flow when depreciation is debited in the income statement, yet the net profit is reduced.
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Answer: Retirement of debt by issuing stock and Lease of an asset in a long-term lease transaction
Explanation: initially answered question wrong
there are two different approaches to job design. the traditional approach to job design is to fit people to the jobs; the modern way is to fit the jobs to the people.
a. true
b. false
It is accurate to say that when deciding how to design projects, there are two different ways that can be used: one is traditional, and the other is current. Modern methods fit people to jobs rather than the conventional method of matching people to employment. Hence, option (A) is appropriate.
What is job design?Job design comes after job analysis; that is, it comes after job analysis. Its goal is to outline and organize various responsibilities, activities, and duties into a single work unit in order to accomplish specific goals.
It also describes the procedures and connections necessary for a certain job to be successful. It refers to the what, how much, how many, and the order of the tasks for a job or jobs, to put it simply.
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a profit-maximizing firm will continue to expand output group of answer choices as long as the revenues from the production and sale of an additional unit exceeds the average costs of the unit. until the average cost of producing the good or service is at a minimum. as long as the revenues from the production and sale of an additional unit exceeds the marginal cost of the unit. until the marginal cost of producing a good or service is at a minimum.
A profit-maximizing firm will continue to expand output it adding more to revenue than it adds to cost.
A profit-maximizing firm comes to a decision to shut down in the quick run whilst the rate is much less than an average variable fee. Ultimately, a company will go out of the marketplace when the price is much less than the common total cost.
A company maximizes earnings with the aid of running where marginal revenue equals marginal value. this is stipulated beneath the neoclassical concept, wherein a firm maximizes profit that allows you to decide a stage of output and inputs, which offers the price equals marginal price condition.
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of the following options, which avenue might provide you with the most appropriate information regarding an hr assistant job?
D. Research Hiring process
A detailed information is needed before taking a decision about the specific job.
In the upcoming days, do you have a job interview? You had better keep reading to find out about a hidden tool that will give you a significant advantage in your interview. One of the best ways to stand out from the competition when applying for jobs is to research potential employers. You can learn information about potential employers that will help you better prepare for any interview by donning your detective hat and doing some research.
First, the best way to find out what the company does and what they want in a candidate is to conduct company research. Additionally, you'll be more equipped to present yourself as the strongest applicant and respond to typical interview questions.
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in an installment note, a portion of each installment payment goes towards interest, and the remaining portion represents a reduction of the outstanding loan balance. (T/F)
True
The statement in an installment note, a portion of each installment payment goes towards interest, and the remaining portion represents a reduction of the outstanding loan balance is True.
What is installment note?An installment note can be defined as the note that inform a borrower to pay the principal amount and interest amount loan to them with in a stipulated period of time.
This installment note help to act as a form of lending agreement between the lender and the borrower as the installment note is often issued to the borrower by the lender.
In a installment note some part of the installment goes to the interest while remaining is the decrease in the outstanding loan balance.
Therefore the statement is true.
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George washington has been extolled as a great president because of his ability to.
George Washington has been extolled as a great president because of his ability to define the presidency and the nation.
George Washington will always be remembered in history as he was the first president of America.
George Washington formed constitutions that benefitted the citizens of the country and also stood with the nation during crucial times. He is remembered to be the best president in the history of the United States.
He was able to define the presidency as well as the nation in a delicate manner. His leadership defined how the president of a country should define the nation.
Although a part of your question is missing, you might be referring to this question:
Fill In the Blank
George Washington has been extolled as a great president because of his ability to .................
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under what conditions must a distinction be made between money to be received today and money to be received in the future?
The conditions must a distinction be made between money to be received today and money to be received in the future is when idle money can earn a positive return.
You may use the time value of money (TVM) as a tool to better comprehend the value of money in relation to time. It is a formula that is frequently used by investors to help them comprehend the current worth of money in relation to its potential future value.
The TVM principle states that cash obtained now will always be more than cash received tomorrow. Because of this, money obtained will only be worthwhile in the long term if there is a probability that it will earn interest. The opportunity costs related to idle cash serve as the foundation for this idea.
The above question is incomplete, the complete question is:
Under what conditions must a distinction be made between money to be received today and money to be received in the future? Select one:
A) When current interest rates are different from expected future rates.
B) A period of recession.
C) When there is no risk of nonpayment in the future.
D) When idle money can earn a positive return.
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which criteria for market segmentation would be easiest to use for an online retailer? customer height student or nonstudent status account address income
From the point of view of an online retail business owner the optimal criteria for market segmentation will be income of that customer to be considered. Hence Option of Income would be correct.
Who is online retailer?In e-retail, a company or a person uses internet stores to sell retail goods and services. Electronic retailer or online retailer is referred to a business entity where it operates & executes commercial business transaction via use virtual electronic platform.
This help to develop market from one location to other remote locations without setting up any physical structure between customer and seller through e-commerce.
Often referred to as e-tail, internet retail, or online retail business.
In market segmentation done by an online retailer refer to continuous practice of breaking up a large population into smaller groups based on various factors such as consumer's income, choice, purchasing criteria, habits, geographic traits, demographics (age, gender, etc.), or a combination of of the same.
Thus for an online retailer can segment its market through income among given options.
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Which pricing approach for a restaurant would have the greatest risk of adverse selection due to buyers having private information?.
Due to the buyers' sensitive personal information, the all-you-can-eat buffet in a restaurant with a set price would be the largest danger to the pricing strategy.
The right pricing strategy is essential if you want to stay competitive in markets where volume and price pressure are increasing. It guarantees that you receive the payment you are entitled to for the goods and services you provide as well as the revenues you need to invest in growth and transformation.
Four pricing strategies competitive pricing, cost-plus pricing, markup pricing, and demand pricing are often used by small business owners.
The good-better-best price structure, often known as a tiered pricing strategy, can be used by a business to increase sales. A company is successful when it offers three unique product or service packages.
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Tom would like to take out a secured loan to help pay for a vacation this summer. he has offered his car as collateral. his car is worth $3,500. his bank can offer loans for 80% of collateral value. the vacation he has planned will cost $4,750. approximately how much additional collateral will tom need to offer in order to borrow enough to go on his vacation as planned? a. $1,000.00 b. $1,362.50 c. $2,437.50 d. $2,800.00
$2,437.5 additional collateral tom will need to offer in order to borrow enough to go on his vacation as planned.
Given: Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral. His car is worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has planned will cost $4,750.
To Find: Approximately how much additional collateral will Tom need to offer in order to borrow enough to go on his vacation as planned
a. $1,000.00 b. $1,362.50 c. $2,437.50 d. $2,800.00
Solution:
car is worth $3,500.
additional collateral Tom need = P
Total collateral value. = P + 3500
His bank can offer loans for 80% of collateral value.
=> loan = (80/100) (P + 3500)
=> loan = 0.8P + 2800
Loan required = 4,750.
0.8P + 2800 = 4,750.
=> 0.8P = 1950
=> P = 2,437.5
$2,437.5 additional collateral Tom need to offer in order to borrow enough to go on his vacation as planned
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the following data are given for bahia company: budgeted production (at 100% of normal capacity) 1,091 units actual production 938 units materials: standard price per pound $1.83 standard pounds per completed unit 11 actual pounds purchased and used in production 10,008 actual price paid for materials $20,516 labor: standard hourly labor rate $14.76 per hour standard hours allowed per completed unit 4.4 actual labor hours worked 4,830.7 actual total labor costs $73,668 overhead: actual and budgeted fixed overhead $1,109,000 standard variable overhead rate $28.00 per standard labor hour actual variable overhead costs $135,260 overhead is applied on standard labor hours. round your final answer to the nearest dollar. the fixed factory overhead volume variance is a.$155,523 unfavorable b.$155,523 favorable c.$19,698 unfavorable d.$19,698 favorable
The Fixed overhead volume variance equals to $155,523 unfavorable. The Option A is correct.
What does fixed overhead volume variance mean?In cost accounting, the fixed overhead volume variance means the difference between the budgeted and actual production volume multiplied by the standard fixed production overhead rate per unit.
The Overhead absorption rate:
= Budgeted Fixed overhead/Budgeted units
= $1,109,000/1,091
= $1,016.50
Particulars Units
Budgeted production 1,091 unit
Actual production 938 units
Volume variance 153 units
Fixed overhead volume variance:
= Overhead absorption rate * Volume variance
= $1,016.50 * 153 units
= $155,524.50 (unfavorable)
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a bond portfolio is immunized from interest rate risk if the modified duration of the portfolio is always equal to the desired investment horizon.
It is true that a bond portfolio is immunized from the interest rate risk if modified duration of portfolio is always equal to desired investment horizon.
What is investment horizon?Investment horizon is the word used to define the overall period of time that an investor anticipates holding a security or portfolio. The length of an investment horizon might vary from being only a few days to being possibly decades long. A young professional, for instance, would have a long-term investing perspective if they had a 401(k) plan. The treasury department of a company, on the other hand, may have a much shorter investment horizon. In the event of a fall, the market has years to rebound, so investors who have a longer investing horizon can accept more risk. A 30-year-old investor, for instance, would normally devote the majority of their assets to stocks.
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chapter eight group homework problem naomi company manufactures one product. on december 31, 2018, naomi adopted the dollar-value lifo inventory method. the inventory on that date using the dollar-value lifo inventory method was $900,000. inventory data are as follows:
Inventory at the end of 2020 at dollar-value LIFO cost is $1,675,000. It can be calculated by divided year end cost with cost index.
Inventory costing means the process of assigning price to inventory, and then to the price of items sold. There are several types of inventory, such as raw materials and components, repair and operating supplies, work in progress, finished goods and maintenance.
The calculation:
2020 cost = year end cost ÷ cost index
2020 cost = $1,900,000 : 1.25
2020 cost = $1,520,000
Inventory at end of 2018 = $1,520,000 - $900,000 = $620,000
End of 2020 at dollar value inventory cost
= $620,000 x 1.25 + $900,000
= $1,675,000
The complete question is shown below:
Naomi company manufactures one product. on december 31, 2018, naomi adopted the dollar-value lifo inventory method. the inventory on that date using the dollar-value lifo inventory method was $900,000. inventory data are as follows:
Year Inventory at year-end prices Price index (base year 2018)
2018 $1,260,000 1.05
2019 1,840,000 1.15
2020 1,900,000 1.25
Inventory at the end of 2021 at dollar-value LIFO cost is:
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market screening market screening is a method of market analysis and assessment that permits management to identify a small number of desirable markets by eliminating those judged to be less attractive. when considering initial entry into international markets, or later expansion of international presence, companies must screen the large number of potential markets to identify the smaller subset of most promising candidates. this exercise examines one type of market screening, called country screening, and reviews the steps in this screening process as well as key tasks and considerations in each step.
The country screening steps will be as follows when ordered from first to last: Assess basic need potential of specific goods or services, Assess economic and financial forces such as trends in inflation, currency exchange rates, and interest rates, Assess political and legal forces such as profit remittance barriers and policy stability, Assess sociocultural forces associated with doing business in a particular area or country, Assess competitive forces such as the number, size, and financial strength of the competitors, and Assess prospective markets through personal visits to those markets with the best potential.
The above question is incomplete, the complete question is:
Market screening is a method of market analysis and assessment that permits management to identify a small number of desirable markets by eliminating those judged to be less attractive.
When considering initial entry into international markets, or later expansion of international presence, companies must screen the large number of potential markets to identify the smaller subset of most promising candidates. This exercise examines one type of market screening, called country screening, and reviews the steps in this screening process as well as key tasks and considerations in each step.
Place the country screening steps in the order they occur, from first to last.
Rank the options below
1. Assess competitive forces such as the number, size, and financial strength of the competitors.
2. Assess economic and financial forces such as trends in inflation, currency exchange rates, and interest rates.
3. Assess sociocultural forces associated with doing business in a particular area or country,
4. Assess basic need potential of specific goods or services
5. Assess political and legal forces such as profit remittance barriers and policy stability
6. Assess prospective markets through personal visits to those markets with the best potential
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f a country has a population of 400 million, 160 million people employed and 40 million people looking for work, then its unemployment rate is 10% 20% 25% 40%
If 160 million people employed and 40 million people looking for work, then its unemployment rate is 25% (third option)
What is the unemployment rate?The unemployment rate is the ratio of those who are unemployed to the total labor force.
Unemployment is when people who are willing and able to work do not have a job and are actively looking for employment. The labor force is the sum of the employed and the unemployed.
Unemployment rate = (those who are looking for work / total labor force) x 100
Total labor force = those employed + those unemployed
Total labor force = 160 million + 40 million
Total labor force = 200 million
Unemployment rate = (40 million / 200 million) x 100 = 25%
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What are 3 advantages of entrepreneurship?.
Three things that can be identified as the advantages of entrepreneurship, include,
Flexibility in workingGreater rewards for risksHigher chances of incomeEntrepreneurship can be referred to or considered as a practice wherein an individual takes risk for obtaining equally exponential returns in relation to the risks being managed. The goal of entrepreneurship is to make better life and income opportunity for an individual. The examples of ideal ways to practice entrepreneurship have been aforementioned.
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