The inventory costing method most closely approximates current cost is ending Inventory (FIFO), Cost of Goods Sold (LIFO) (option B).
What is FIFO and LIFO?LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold. When LIFO is used, the cost of goods sold would be made up of goods that were most recently purchased so it would reflect current cost. Ending inventory would be made up of earlier purchased goods.
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold. When FIFO is used, the cost of goods sold would be made up of goods that were purchased the earliest. Ending inventory would be made up of the latest purchased inventory. It would most reflect the current cost.
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a natural monopoly is one that arises from: group of answer choices mergers. patent law. economies of scale. copyright law. any government-imposed barrier to entry.
A natural monopoly is one that arises from: group of answer choices mergers. patent law economies of scale.
Hence, Option A is correct.
What makes a natural monopoly?
A natural monopoly can be defined as a particular market if a single firm can serve that market at lower cost than any combination of two or more firms. They arise when the largest supplier in an industry, often the first supplier in a market, has an overwhelming cost advantage over other actual or potential competitors
Examples of Natural Monopoly includes :
RailroadsElectrical powerWater TelecomHence, in the above statement Option A is correct.
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n 2015, poultry farmers were able to sell cage-free eggs for a price that more than offset the higher costs of raising cage-free chickens. by 2019, most of that higher return had been wiped out by the entry of additional farmers into the cage-free egg market, which caused the price of those eggs to decline. this example indicates that in a competitive market,
The example above illustrates that in a competitive market, prices stay reasonable as there are many sellers of the same commodity.
Economic fundamentals show that when businesses compete for customers, the result is cheaper pricing, better goods and services, more variety and more creativity. Not just in market segments, but also in labour markets, competition is essential. Businesses that want to retain employees must raise pay and upgrade working conditions.
There is evidence that markets in the United States have become less competitive and more concentrated across a wide range of industries. These trends toward greater concentration have a number of causes, including technological change, the growing importance of "winner take all" markets and laxer government regulation.
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How do nations benefit from international trade ?.
Trade fosters economic expansion, productivity, technical advancement, and—most importantly—the welfare of consumers are benefit from international trade.
What are the benefits of international development?Countries can get commodities and services that would not otherwise be accessible locally through international commerce, expanding their markets in the process. The market is more competitive as a result of global commerce. In the end, this leads to more competitive pricing and sends a less expensive product to the customer.Trade fosters economic expansion, productivity, technical advancement, and—most importantly—the welfare of consumers. Trade notably helps middle- and lower-income households by bringing down prices and expanding the product variety accessible to consumers.To learn more about international trade refer,
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a salesperson has a history of success, but currently lacks motivation to perform well in his job. in the context of finding solutions to performance problems, what is the right way to deal with this situation?
Here units are clustered around a section on a rating scale. The rater is compelled to distribute the workers on all points on the dimensions. it's assumed that the performance is conformed to a statistical distribution.
Spend some time showing wisdom on tasks that align with goals. Organize your notes, inbox, and workspaces for accumulated focus, motivation, and time management. Take breaks throughout the day to avoid burnout. establish motivators like tasks, goals, or colleagues.
With an important incident appraisal, the manager records samples of the employee's effective and ineffective behavior throughout the fundamental quantity between evaluations, that is within the activity class.
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Leandroff corporation leases its corporate headquarters building. This lease cost is fixed with respect to the company's sales volume. In a recent month in which the sales volume was 28,000 units, the lease cost was p697,200. To the nearest peso, how much is the total lease cost at a sales volume of 29,200?.
Leandro agency leases its company headquarters construction. This rent cost is fixed with admire to the enterprise's sales extent is $ 26.41.
Let's understand while taking batters in as B and lessor as A
There is a lease agreement between Party A and Party B, where Party A is the owner [Lessor] of the Building and B is the lessee of the Building. B agreed to pay a fixed amount of lease cost, which will vary as per sales volume. However there is a range in which the lease cost will remain the same, and if this range is exceeded then the increased lease cost must be paid by B. This cost has the feature of semi-fixed cost, which will increase with the increase in capacity [Volume].
Since the question suggest that the sales volume has been in the range, hence the lease cost in totality will not be increased. The per unit cost will be the total lease cost divided by sales volume.
Lease cost per unit would be = $ 697,200 / 26,400
= $ 26.41 per unit.
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A new CNC costs $35,000 today. You estimate you can sell it for $8,000 in 10 years. For the next nine years you estimate you can generate an additional $7,500 in revenue each year and it will cost you $1,000 each year for maintenance. Your MARR for this investment is 6%. What is the present value of the gain or loss on the CNC investment? Select one: a. - 35,000 b. -9,217 c. 13,680 d. 38,000 e. - 15,647
The present value of gain on the CNC investment is 13, 680.
How to calculate gain or loss on investment when MARR is given?To calculate the present value of loss or gain on the CNC investment, the following calculations as given in the table below are to be made.
Hence, by substracting the sum of cash inflow or revenue from CNC over 9 years and the final selling price from the initial investment gives out 13, 680 dollars (which is gain from investment on CNC).
Gain on CNC investment = -35, 000 + 48678.16 = 13,678.16 (approximately 13, 630 dollars).
What is MARR?The Minimum Acceptable Rate of Return (MARR) or discount rate is minimum rate of return at which an individual or a company would make a decision to invest on an asset or a project.
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when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):
When brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n) a. Fiduciary relationship
In the field of business, a fiduciary relationship can be described as a kind of relationship in which the position of own of the parties is increased to such a level that the other party causes benefit to it even by overlooking its own benefits.
Brokers are people who have to have strong relationships in order to finalize deals in between sellers and buyers. Doing so, they might interest their clients with high care and confidentiality, sometimes overlooking their own benefit in order to benefit the client. Hence, this is a fiduciary relationship.
Although a part of your question is missing, you might be referring to this question:
when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):
a. fiduciary relationship
b. trust relationship
c. contractual relationship
d. none of these
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the laboratory workplace includes many hours of computer use. the suggested time for a break after 30 minutes of computer use is:
The laboratory workplace includes many hours of computer use. The suggested time for a break after 30 minutes of computer use is 1-2 minutes.
There are three modes for resting your laptop or computer, namely Sleep, Hibernate, and Shut Down. However, many don't know when to choose the three modes correctly.
Sleep vs Hibernate vs Shut DownThe following is an explanation of the appropriate Sleep, Hibernate, and Shutdown times according to usage:
SleepWhen you use Sleep mode, your laptop or computer will continue to run but won't consume much power. Electricity is still used in computer memory, but not in other components. When you turn on the laptop, it will immediately connect to work in no time. You don't have to wait for the boot process. Unfortunately, when compared to other modes, Sleep consumes more electricity.
The best time to use Sleep mode: when you want to leave the computer for a very short time.
HibernateWhen using this mode, your most recent work can be stored on the storage drive because RAM directly offloads work into RAM. When you turn on the computer, you can immediately connect to the work you did last, even though it's not as fast as when it's in Sleep mode.
The right time to use Hibernate mode: when you want to leave the computer for a long time, such as sleeping.
Shut DownWith Shut down mode, it means you turn off all programs and operating systems on the laptop. Laptops in Shutdown mode do not consume electricity at all. When you want to use a laptop, you have to start with the boot process and wait until the computer is ready to work again. The boot process may take longer than when you use Hibernate. Because of this, many people prefer Hibernate over Shut Down. However, please note that there are some software that cannot work properly after using Hibernate mode.
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awson manufacturing has four categories of overhead. the four categories and expected overhead costs for each category for next year are as follows: maintenance $180,000 materials handling 27,000 setups 24,000 inspection 90,000 currently, overhead is applied using a predetermined overhead rate based upon budgeted direct labor hours. 20,000 direct labor hours are budgeted for next year. the company has been asked to submit a bid for a proposed job. the plant manager feels that obtaining this job would result in new business in future years. usually bids are based upon full manufacturing cost plus 15 percent. estimates for the proposed job are as follows: direct materials $3,000 direct labor (600 hours) $9,000 number of material moves 4 number of inspections 6 number of setups 8 number of machine hours 80 in the past, full manufacturing cost has bee
Amount of inspection costs allocated to proposed job = $540.
Inspection cost :Inspection Fees means the wages of a Board inspector plus overheads or, if a consulting engineer is employed, the fees for his/her services to the Board. "Plan" means any plan, profile, drawing, sketch or copy thereof published, used or prepared for or in connection with the work covered by the Agreement.
Calculating :Amount of inspection costs allocated to the proposed job =
90000/1000 × 6
= $540
What does overhead rate mean?Overhead costs are the costs assigned to producing a product or service. Overhead costs are costs that are not directly related to production. Headquarters expenses. The overhead rate, also known as the standard overhead rate, is the cost that companies allocate to production to get a more complete picture of the cost of their products and services. The overhead rate is calculated by adding overhead costs and dividing that cost by a specific measure.
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according to the cdc, what percentage of adults are more likely to respond to physical activity marketing?
According to the cdc, 75 % of adults are more likely to respond to physical activity marketing.
Marketing is the procedure of exploring, developing, and delivering price to fulfill the needs of a target market in terms of goods and services; doubtlessly such as choice of a audience;
Marketing is the process of getting people interested by your organisation's product or service. This occurs through marketplace research, analysis, and information your best consumer's interests. marketing pertains to all aspects of a business, which includes product development, distribution techniques, income, and advertising and marketing.
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if a business sells 75 units per week and has 525 units of inventory, then the business has , fill in the blank, days of inventory?
If a business sells 75 units per week and has 525 units of inventory, then the business has 49 days of inventory.
Calculation:
No. of units sold per week = 75
Total no units in inventory = 525
Weeks for which inventory is available = 525/7 =75
No. of days in 7 weeks = 7*7 = 49 days
Both the natural resources used in manufacturing and indeed the finished commodities that are offered for sale are part of the definition of inventory. One of a company's most important assets is its stock because it is one of the main sources of generating revenue and, therefore, a source of profits again for equity assets. There are three distinct types of inventory: finished commodities, work-in-progress, and raw materials. On the company's balance sheet, it is listed as a current asset.
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the price of a dozen eggs falls from $3 to $2.70. in response to this price change, the quantity supplied of eggs falls from 100,000 dozen eggs to 75,000 dozen eggs. what is the price elasticity of supply for eggs? 0.37 2 0.5 2.7
Twelve eggs are now $2.70 instead of $3. The number of dozen eggs supplied decreases from 100,000 to 75,000 as a result of the price shift. The price elasticity of egg supply is 3.33.
Define price elasticity of supplyPrice elasticity of supply is a metric that expresses how responsive a good's supply is to price changes. By dividing the percentage change in the quantity supplied by the percentage change in the price, it is calculated.
The quantity supply price elasticity is calculated as the difference between a percentage change in the quantity supplied and a percentage change in the price.
For eggs, the price elasticity of supply is:
% change in Quantity supply= 75,000- 100,000/75,000× 100=33.33%
% change in price = (2.70 - 3.00) ÷ 3.00× 100= 10.00%
Price elasticity of supply = 33.33/10.00=3.33
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Average Accounting Return Rule
Based on the average accounting return rule, a project is acceptable if its average accounting return exceeds a target average accounting return.
A project is acceptable if its average accounting return exceeds a target average accounting return is known as, Average Accounting Return Rule.
Target average:
In economics, target average refers the average weight per animal agreed and set out in the Fourth Schedule to this agreement.
Given,
Here we need to find the a project is acceptable if its average accounting return exceeds a target average accounting return.
In order to find the term, we must know the definition of average accounting return,
It means the percentage rate of return expected on an investment or asset, compared to the initial investment's cost.
According to this definition, if its average accounting return exceeds a target average accounting return.
Therefore, this defines the average accounting return rule of the project.
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which item is most likely to be included in a routine request?
Most frequently, a regular request will contain the rationale for the request.
What is a routine request?Any request that does not seek secret, impounded, or confidential information is considered a routine request. This includes requests for information that is found in case files, dockets, indexes, lists, or schedules.
To make a standard request, put your requests or inquiries in a bulleted list, explain why you're asking for something or what it will accomplish after you've asked for it, leave out any irrelevant information, and end politely and effectively.
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first guaranty bank wants to borrow funds to purchase a $22 million building for its new branch location and wants to issue long-term securities to cover the financing of the new branch location.
The given case is of Bond Issuances where First Guaranty Bank wants to borrow funds to purchase a $22 million building for its new branch location and wants to issue long-term securities to cover the financing of the new branch location.
One way for businesses to raise capital is through issuing bonds. An investor and a company borrow money from one another through bonds. The investor consents to provide the company with a particular sum of money over a specific time period. Periodic interest payments are given to the investor in return.
Public bodies, financial institutions, businesses, and supranational organisations all issue bonds in the primary markets. Underwriting is the most typical technique for issuing bonds. A syndicate of securities companies or banks will purchase the whole issue of bonds from the issuer and resale them to investors when a bond issuance is underwritten. The risk that it won't be able to sell the issue to end investors is assumed by the security company. Primary issuance is organised by bookrunners, who also serve as the bond issuer's advisers on timing and price issues, have direct contact with investors, and arrange the bond issue.
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in the context of organizational decisions at the tactical management level, decisions are often used in resolving conflicts between two divisions.
In the context of organizational decisions at the tactical management level, Unstructured decisions are often used in resolving conflicts between two divisions.
What is unstructured decision with example?Unstructured decisions require the decision-maker to exercise judgment, assessment, and understanding of the problem definition.Contrarily, structured decisions can be handled efficiently by following a set process because they are repeated and routine.An unstructured choice can involve deciding how to handle a labor dispute or how to establish guidelines for the use of new technologies.A semi-structured choice is one in which the majority of the necessary criteria are known, but the decision may still be impacted by the decision-experience maker's and other external influences.By using a relational database, structured data is arranged.However, semi-structured data is organized using XML/RDF in some cases.To learn more about organizational decisions refer
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Should you budget with gross or net income?.
While there are a whole bunch if not thousands of various ways to budget, there are some universal truths when it involves budgeting. As an example, it is best to not pay quite you are transportation in, and your budgeting financial gain ought to be supported by your lucre, not your gross financial gain.
Your lucre ought to be the quantity that helps you originate your budget. once you've got calculated your monthly lucre, track your defrayment habits, beginning with what proportion you wish for mounted prices like mortgage, loan payments, or utility bills.
Gross financial gain is beyond net financial gain and includes total revenue or income, whereas lucre refers to web profits in any case expenses, taxes, and deductions are taken out. Your personal lucre is often your wage.
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under absorption costing, fixed overhead is allocated to products sold, so when production is greater than units sold, net income will be
Under absorption costing, fixed overhead is allocated to products sold, so when production is greater than units sold, net income will be greater
The costing method known as absorption costing distributes variable and fixed overhead costs to each unit produced over the time period. It differs from variable costing in that regard. Fixed overhead costs are reported as expenses rather than being allocated to the units generated under variable costing. This indicates that fixed overhead expenses do not contribute to the cost of goods sold under variable costing.
When output exceeds the number of units sold, absorption costing allocates fixed overhead to the items sold, resulting in net income that is higher than that determined by variable costing. The costs ascribed to product units under absorption costing comprise both variable and fixed costs.
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Which description best fits the definition of M2 money supply?
M2 money supply is the money supply that includes currency, checking accounts in banks, traveler's checks, savings deposits, money market funds, and certificates of deposit.
The best fits the definition of M2 money supply is the checks savings deposits
The M2 money supply is a measure of the money supply and includes cash, check deposits, and readily convertible cash. M2 is a broader measure of money than M1, which includes only cash and check deposits. A savings account is the bank account at the retail bank. Common features include a limited number of withdrawals, lack of checking and linked debit card functionality, limited money transfer options, and the inability to over withdraw. refers to the type of bank account that you open to save a portion of your Interest rates on savings accounts are fairly modest. Investing in fixed deposits is he one of the safest investment options. The rate the bank offers on his FD makes FD a good option.
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a forecast of bond returns based largely on a prediction of the yield curve at the end of the investment horizon is called a .
The investment horizon is called bond's overall return over a five-year investment horizon is 50.5%.Assume the bond has a $1,000 face value. Due to the bond being purchased at par, the initial investment is equivalent to its $1,000 face value.
Thus, we have $1,000 multiplied by 9%, or $90, plus coupons Given that he is receiving 5 coupon payments after holding the bond for five years and that the reinvestment rate is 9.4%, the future value of these 5 payments at the conclusion of the investment horizon (i.e., at the end of year 5) is calculated as follows: (90/9.4%) L (1+9.4%)5 -1]=$543.+ At the end of the investment horizon, the price of the two-year remaining bond is computed as follows: 90/1.112 + 1,090/1.1122 = $962. (Since there is a $90 coupon payment in one year and a $90 coupon payment plus $1,090 in principle repayment in two years) => Total receipt at the end of the investment horizon = The future value of these 5 coupon payments at the end of the investment horizon + The cost of the two-year remaining bond at the end of the investment horizon = $543 + $962 = $1,505.
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the costs of carrying inventory include the costs of . (check all that apply.) multiple select question. delivering goods to customers spoilage theft storage obsolescence
The costs of carrying inventory include the costs of .
theftstoragespoilageobsolescenceWhat is inventory carrying cost?Inventory carrying cost can be defined those cost or expenses incurred by companies so as to store their products or goods in their warehouse.
Most companies tend to incur this type of cost because they will need to stock or keep inventory for a period of time and sometimes this store inventory are at risk of be stolen or damaged.
Therefore the costs of carrying inventory include the costs of, theft, storage, spoilage and obsolescence.
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Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 44,000 direct labor-hours, total fixed manufacturing overhead cost of $286,000, and a variable manufacturing overhead rate of $3.50 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours : 400 Direct materials : $ 800Direct labor cost $ 5,900 Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round your intermediate calculations and final answer to 2 decimal places.)
For the financial positions given above, it can be concluded that the selling price for the job X941 will be $256.80 for the McEwan Corporation under the job-order costing system.
The computation for the selling price can be done using the following computations related to the same.
Predetermined overhead rate = Variable overhead + Fixed overhead
Predetermined overhead rate = $3.50 + ($286,000/44000) = $10
and,
Total cost = Direct materials + Direct labor + Overhead applied
Total cost = $800 + $5,900 + (400*$10)
Total cost = $10,700
So now, the the selling price will be,
Selling price = Unit product costs * 20/100
Selling price = ($10,700/50) * 20%
Selling price = $256.80 per unit
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what will most likely be the result of using an unplanned approach, in which each employee's pay is independently negotiated
Explanation:
An unplanned approach will likely result in unfairness and dissatisfaction among the employees.
B. Most of the employees prefer planned pay because negotiation with the management takes time
what are the steps for constructing a financial plan? what role do financial statements play in the construction of financial plans
Financial planning is very much like some other arranging process. In this manner, one needs to recognize his desired objectives to accomplish through monetary preparation.
For arranging, there is a requirement for assets. The assets are the resources and the income accessible for the venture. The resources and money are put resources into a way that assists one with accomplishing the decided monetary objectives.
Financial planning is a course of recognizing the monetary goals and the assets and the ways of accomplishing them.
Accordingly, financial planning essentially includes three stages:
Distinguishing monetary targets or objectives.
Deciding the accessible assets.
Choosing where and how to utilize the accessible assets.
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Financial statements of a business are written in the form of balance sheets, income sheets or cash flow sheets which contain the activities of the past and future of the company and help in constructing a financial plan.
Steps for constructing a financial plan :
First and foremost identifying the financial condition of the business is important.Set short-term and long-term goals for the company.Identifying the sources of investments.Creating a budget through an integrated investment strategy of short-term and long-term goals. Creating emergency funds for emergencies to face.Planning and managing the payment of taxes and debts.Protection with insurance.And finally reviewing, Re-evaluating and monitoring the planning from time to time.Role of financial statements in the construction of financial planning.
Income statements help in identifying the financial situations of profits and losses by providing data on the expenses and revenue of the company.Cash flow statement -CFS helps in the generation of investment with the data of previous fund investments.Balance sheets help in identifying the company's assets and liabilities for strong debt management in planning. Statements of changes further help in the planning of future growth of the company both internally and externally.
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5. describe how a self-regulating economy moves out of a recessionary gap. what is the implication of believing an economy is self-regulating?
At point 1, the economy is experiencing a recessionary gap. As a result of the labor market surplus, wages decline and the SRAS curve moves to the right. At point 2, the economy is in balance at the natural level of Real GDP.
When a nation's real GDP is lower than its GDP at full employment, there is a recessionary gap, also known as a deflationary gap.
When real wages reach equilibrium and the amount of labor required and supplied are equal, recessionary gaps close.
A boost in aggregate demand can, if the economy is self-regulating, raise prices and Real GDP in the short term, but the only effect over the long run is a rise in prices.
In other words, an increase in aggregate demand over the long term will only result in greater prices.
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prepare the employer's september 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee.
2,126.40 is the employer september 30 journal entry of record accrued salary expense and its related payroll liabilities for this employee.
The employer journal to record salary expense and related payroll liabilities only take FICA - SS , FICA - M and Federal income taxes withheld.
FICA - SS = 128,400 - 5,400 = 123,000
FICA - SS = $2,400 (current) x .062 = $148.80
FICA - M = $2,400 x .0145 = $34.80
Debit Salary expense 2,400 and Credit FICA - SS 148.80,
FICA - M 34.80 , Employee federal income taxes payable 90
Salary payable = 2,400 - (148.80 + 34.80 + 90) = 2,126.40
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the advantages of using the allowance method to account for bad debts include which of the following? (check all that apply.)
Requires no accounting estimates
Matches expenses with related sales
Reports accounts receivable balance at net realizable value
The advantages of using the allowance method to account for bad debts includes:
B. Matches expenses with related salesC. Reports accounts receivable balance at net realizable value.What is the allowance method for bad debts?In accounting, the allowance method is a method that involves setting aside a reserve for the bad debts that are expected in the future; the reserve here is based on a percentage of the sales generated in a reporting period which are possibly adjusted for the risk associated with certain customers.
In other word, its matches the estimated expenses or losses from uncollectible accounts receivables against the sales.
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on jan 15 ABC Co sold a piece of land for 4000 when the original cost of the land was 4000. show how to journalize the transaction into the cash receipts journal by selecting all of the correct actions below
1. 4000 is entered in the cash dr column
2. sold land is entered in the explanation column
3. 4000 is entered into the other accounts cr column
4. land is entered into the accounts credited column
The correct actions to show the journalized transaction of the sale of the piece of land by ABC Co. are:
1. 4,000 is entered in the cash dr column2. sold land is entered in the explanation column3. 4,000 is entered into the other accounts cr column4. land is entered into the accounts credited columnHow to record the sale of the land?When land is sold, as ABC Co just did, the cash account is to be debited by the amount the land was sold for. This is because cash is increasing from the sale and so, like normal assets, will be debited to show an increase.
Land will be credited with the value of the land which is $4, 000. This shows that the land is no longer owned by the company and like other assets, when an asset leaves a company, it is credited.
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In the first half of the 19th century, canal building was important to economic growth because canalsanswer choicescould be used in all seasons of the yearprovided access to free homesteads in the Westcharged lower rates than the transcontinental railroadallowed faster transport of farm and industrial produc
Shipping goods like grain and lumber from the Midwest to the East Coast was significantly cheaper and faster thanks to the Erie Canal.
Why the construction of canals raised in the 19th century?The maritime transportation system expanded even further thanks to canals. The Erie Canal in New York was the biggest and most significant, authorised by the state assembly in 1817 and finished eight years later. This incredible feat of engineering, which stretched from Buffalo to Albany, constructed an artificial river that connected the Great Lakes to the Hudson River, which flows into the Atlantic. It was 12.1 metres (40 feet) wide and 1.2 metres (four feet) deep. Shipping goods like grain and lumber from the Midwest to the East Coast was significantly cheaper and faster thanks to the Erie Canal. The shipment of these items increased dramatically and immediately as a result, and the state's investment in the enormous undertaking paid off handsomely.
Within 12 years, incoming toll income had more than covered the whole cost of building the canal. New York City was firmly established as the nation's financial and commerce hub by the 1840s and had grown to be its premier commercial port. The rest of the state of New York developed as well, particularly the canal-bound cities of Rochester and Syracuse.
What effect did canals have on economic growth?Canals opened up new markets in terms of location and accessibility since they made it possible to carry a larger volume of commodities more precisely and inexpensively. Now, interior trade might be connected to seaports.
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which of the following would be classified as part of property, plant, and equipment on the balance sheet? group of answer choices accounts receivable mortgage payable office supplies accumulated depreciation
The following classified as part of property, plant, and equipment on the balance sheet is office supplies.
The assets and liabilities of a firm are described in detail on a balance sheet, which is a financial statement. One of the three essential financial statements—the other two being the income statement and cash flow statement—used to assess a company's performance is the balance sheet.
Because it updates you and other stakeholders on your financial situation, the balance sheet is extremely crucial. You can make better management choices by keeping this information current. Additionally, it might enhance your ability to borrow money and general financial wellness.
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