Economies of scale are cost advantages that businesses enjoy as a result of efficient production. In order to attain economies of scale, businesses must increase production while reducing expenses.
TYPES OF ECONOMIES SCALE
Internal Economies of Scale originate from internal factors within the organization. The Internal Economies of Scale are the internal factors that can be controlled by the organization to lower the cost of production.
Economies of scale can be defined as the long-term cost advantages that an organization can get by expanding their output. Hence, the benefits of large-scale growth are referred to as "Economies of Scale." The advantage in cost is achieved through the lower average cost per unit.
external economies of scale factors External economies of scale take place within the same industry but outside of a specific business. Keep in mind that economies of scale in economics refer to the fact that a company's cost of producing each unit decreases as it produces more units.
The cost of production per unit, on the other hand, is impacted by external economies of scale. The elements that lower the cost of production are the external economies of scale. External economies of scale cannot be managed by the organization, in contrast to internal economies of scale. These include things like tax breaks, partnerships, the availability of highly skilled labor, etc.
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the apple industry was used as a supply and demand example in this video. when the price per pound of apples was $3lbs., what is the amount of surplus or shortage?
1,700 lbs is the amount of surplus or shortage at the price per pound of apples was $3lbs.
Surplus is an economic concept that refers to a situation where the quantity of a good or service supplied exceeds the quantity demanded at a given price. In other words, when there is more supply than demand for a particular product, a surplus occurs. A surplus can lead to a decrease in the price of the product, as suppliers try to sell off their excess inventory. It can also result in a decrease in production, as suppliers reduce their shareholders output to avoid further losses. Surpluses can have negative effects on the economy, as they can lead to lower profits for businesses, reduced employment opportunities, and lower overall economic growth. Managing surpluses is an important part of supply chain management and economic policy, as it helps to ensure that supply and demand are balanced in a way that is beneficial for all parties involved.
the complete question is:
The apple industry was used as a supply and demand example in this video. When the price per pound of apples is $3. what is the amount of surplus or shortage?
Select one:
a. Surplus of 1,700 lbs
b. Surplus of 1,000 lbs
c. Shortage of 1,700 lbs.
d. Shortage of 4,000 lbs.
e. Zero. The market is in equilibrium at $3/lbs.
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your opportunity cost of attending a game compared with the opportunity cost facing a college student 23 years ago is
The value of best use of someone's time, in addition to the additional expenses that person incurs by choosing to attend college, is what is known as the opportunity cost with that decision.
What is the brief definition of opportunity cost?In economics, the word "opportunity cost" refers to the benefits that are forgone when one alternative is chosen over another. In a nutshell, it represents the worth of the path not traveled. Opportunity costs are simple to overlook, yet comprehending missed chances is essential to making smarter business decisions.
What does opportunity cost and how is it significant?Opportunity cost is just the difference between the worth of a different option and the value of the one that is selected. Opportunity cost is a notion used in decision-making to assist individuals and organizations in making better decisions, primarily by taking the alternatives into account.
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The division of power among several institutions that must cooperate in decision-making is known as:_______
The division of power among several institutions that must cooperate in decision-making is known as separation of powers.
What is separation of powers?The term "Separation of Powers" is attributed to the 18th-century philosopher Montesquieu. Each arm of the government is given unique and independent functions under the separation of powers concept. By having numerous branches of authority, this system helps to ensure that no one branch of government is more powerful than any other. The three divisions into which the government is commonly divided under this system are the Judicial Branch, the Executive Branch, and the Legislative Branch. The federal government of the United States and the forty state governments use these three branches of government.
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4. the production function depicts a relationship between which two variables? also, draw a production function that exhibits diminishing marginal product.
The link between the inputs of labour, capital, and other factors and the outputs of goods and services is represented by a production function. Gross Domestic Product, or GDP, is the output of interest in macroeconomics.
A linear production function with labour as the sole input is the most basic form of production.For instance, the production function would be the following if one worker could create 500 pizzas in a day (or other specified time period):
Q = 500 L
A straight line would appear on a graph if one worker produced 500 pizzas, two workers produced 1000, and so on.
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in regard to terms used in perceptual organization, the part of the picture that is in the background of this photo is called the .
In regard to terms used in perceptual organization, the part of the picture that represents the part of the photo that one is focused on is called the figure. So, option B is the right choice.
The ability to impose order on sensory data is known as perceptual organisation, and it is used to categorise sensory primitives that originate from a single underlying cause. The existence of this kind of order in human perception, including vision, was emphasised by gestalt psychologists. Closeness, similarity, continuity, closure, and connectivity are the five pillars of the perceptual organisation. The five laws of perceptual organisation are similarity, pragmatics, proximity, continuity, and closure. As a result, Choice B is accurate.
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the function that links the consumer and the general public to the marketer of a company through information is called secondary research.truefalse
True, the function that links the consumer and the general public to the marketer of a company through information is called secondary research.
Summarizing, gathering, and/or synthesizing previously published research is known as secondary research. Secondary research uses data from primary research sources for analysis while primary research generates the data.
Secondary research differs from primary research in this way. A notable sign of primary research is the presence of a "methods" section where the authors describe how the data was produced for research.
Examples of secondary research includes encyclopedias, news articles, review articles, meta analyses, and textbooks etc. When conducting secondary research, authors may use information from scholarly publications, official records, statistical databases, and historical records.
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what did the waiter say when the customer asked what is this insect in my soup
Answer:
The waiter might say something like, "I'm sorry sir/ma'am, let me take care of that right away. I'll bring you a fresh bowl of soup." or "Oh no, I apologize. I'll remove the insect and bring you a new bowl immediately." The main objective of the waiter would be to quickly rectify the situation and make the customer happy.
Explanation:
in september, lauren ashley company purchased materials costing $170,000 and incurred direct labor cost of $150,000. overhead totaled $325,000 for the month. information on inventories was as follows: line item description september 1 september 30 materials $120,000 $130,000 work in process 80,000 90,000 finished goods 70,000 65,000 required: what was the cost of goods sold for september? fill in the blank 1 of 1$
The cost of goods sold for september is $640,000.
In order to compute the cost of goods sold, first we have to determine the cost of goods manufactured which is shown below:
Cost of goods manufactured = Work in process, September 1 + Manufacturing cost - Work in process, September 30
where manufacturing cost equal to
= Purchase of direct material + Direct labor cost + Manufacturing Overhead cost
= $200,000 + $120,000 + $325,000
= $645,000
So the Cost of goods manufactured would be
= $80,000 + $645,000 - $90,000
= $635,000
And, the cost of goods sold would be
= Finished goods, September 1 + Cost of goods manufactured - Finished goods, September 30
= $70,000 + $635,000 - $65,000
= $640,000
Hence , the cost of goods sold for september is $640,000.
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There are many highly successful people who have overcome huge obstacles to reach success. Some had difficult childhoods, others faced family or financial crises. While many people could succumb to the hand they had been dealt, these individuals made healthy choices that ultimately led to their success.
For this activity, you will conduct a web search of two to three highly successful individuals of your choice. You can define success as you like, and you can choose anyone you like. If you feel a bit stuck, you could use search terms like “top five successful ____ ” and fill in the blank with a career interest you have, such as “top five successful microbiologists.”
Research their history and struggles and the choices they made that led to their success. You will write at least three paragraphs addressing these questions:
Who did you research? What choices did these people make that helped them succeed and reach their goals?
What choices would have adversely affected their success? Give examples.
How can you use this information to help you reach your goals? How will you make choices that will lead to your success? Give examples.
In addition to these required questions, you will need to come up with at least one self-generated question and provide an answer to your question.
After you answer both the required and self-generated questions, please record any other related questions that come to mind. Often when we are searching for answers to a question, we are prompted to consider other avenues to explore. Please record any additional questions that may come to mind during your research.
If you choose to directly quote your sources, use MLA format for in-text citations. Remember, when you are using information that is not your own, use citations to give credit to your sources. List your references at the end in MLA format. Please use only credible websites—avoid tabloids and satirical websites.
Examples of MLA format can be found at: MLA Formatting and Style Guide
Company A is thinking of mining more platinum even though the platinum resources are scarce. Which one of the following heuristics will the company use to perform the analysis?
Marginal Analysis
Order of Magnitude
Break-even Point
Bayesian Thinking
The correct option is A i.e., Company A will use Marginal Analysis to analysis the Platinum presence despite of its scarcity.
What exactly is managerial analysis?To improve the effectiveness of the organization, conduct research and address organisational inefficiencies. identifies and collects the precise information needed (via case studies, etc.) to resolve a problem or make a choice.
Why should decisions be made using marginal analysis?According to the theory of marginal analysis, a manager should enhance activity to achieve the largest net profit whenever marginal benefit exceeds marginal cost. Similar to this, activity should be reduced if marginal cost is greater than marginal benefit.
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Kalint a package delivery service manager is interested in implementing _____ To do this, Kalini will study the routes that drivers take through a congested to city in order to identity ways that delivery staff can make the most deliveries in each two-hour period. Multiple Choice A. Human relations management B. Management science C. Scientific management D. Contingency management
The approach that Kalint is interested in implementing is Management Science. This is a problem-solving approach that uses quantitative methods to analyze data and inform decision-making. In Kalint's case, option c Management Science would involve analyzing the data on the routes .
This analysis could involve using algorithms to optimize delivery routes and considering factors such as traffic patterns and delivery locations. Management Science is a useful approach in situations where data is available, and decisions need to be made based on that data. By using this approach, Kalint can make informed decisions about the most efficient ways to manage package delivery and optimize the use of their resources. In this way, Management Science can help Kalint to increase efficiency, reduce costs, and improve customer satisfaction by ensuring timely and accurate package delivery.
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troy and clare began and finalized the adoption of a u.s. child with special needs in 2021. their total adoption expenses were $4,100. their modified adjusted gross income was $208,000. what is the maximum amount they may claim for the adoption credit?
As it is less than $2,16,600, the adjusted gross income is $2,08,000, allowing for a complete credit. So, you may claim the full $14,440 credit.
Based on your modified adjusted gross income, the adoption credit or exclusion income cap is determined. Your credit or exclusion may be phased out if your MAGI for 2021 is within specific dollar thresholds (is reduced or eliminated).
The MAGI phaseout starts at $216,660 and concludes at $256,660 for tax year 2021. As a result, if your MAGI amount for 2021 is less than $216,660, the MAGI phaseout won't effect your credit or exclusion; however, if your MAGI amount for 2021 is $256,660 or more, your credit or exclusion will be eliminated.
Adjusted gross income is $2,08,000 because it is less than $2,16,600 and can therefore be fully credited.
Those with an adjusted income between $216,600 and $256,660 are eligible for a partial credit.
If adjusted income exceeds $2,56,660, no credit is available.
You may therefore claim the full $14,440 credit.
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In your role as project leader for the organization's involvement in the annual United Way campaign, you have planned a party to mark the end of the fundraising initiative. What must you do to ensure the party is implemented successfully? - Identify how much money is available in the discretionary fund. - Remind the team of the importance of positive reinforcement. - Be sure the people involved get the information they need when they need it. - Send a memo emphasizing how important the United Way campaign is to the community. Grade It Now Save & Continue Continue without saving
The answer is Remind the team of the importance of positive reinforcement.
What does reinforcement through example mean?Positive reinforcement includes things like giving a kid chocolates if he cleans his room. If a youngster smashes a window, spanking him or her is a good punishment. Negative punishment is taking away a child's toys for misbehaving. Negative reinforcement is when parents skip a child's tasks after he does well on a test.
What does management reinforcement mean?The detailed explanation of how a person learns behavior is provided by reinforcement theory. Employee motivation efforts by managers must take care to avoid rewarding everyone at once. The staff must be informed of their errors.
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a corporation: is a taxable entity is subject to the laws of the state in which it was formed can own property can sue and be sued is accurately described by all of the above
All of the aforementioned statements are true about a corporation, as it is a taxable organization and governed by state law.
What does corporation mean in a business?The corporation is a legitimate entity whose owner(s) take leadership roles in the management of the company's operations. The corporation, not the shareholders, is responsible for the company's financial condition and operational performance.
What are the 4 sorts of corporations?In the United States, companies can be classified into one of four broad categories: sole proprietorships, Limited Liability Companies (LLCs), S-Corporations (S-Corps), and C-Corporations (C-Corp).
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The Heckscher-Ohlin theory is based on the idea that
Multiple Choice
it makes more simplifying assumptions than the theory of comparative advantage.
it is in a country’s best interests to maintain a trade surplus.
economies of scale are a good predictor of real-world international trade patterns.
the pattern of international trade is determined by differences in factor endowments.
it is more profitable for a country to balance exports and imports.
The Heckscher-Ohlin theory is based on the idea that the pattern of international trade is determined by differences in factor endowments.
What is the Heckscher-Ohlin theory?According to the theory, a country will tend to specialize in the production and export of goods that use its abundant factors of production, such as labor, capital, or natural resources, and import goods that use its scarce factors of production.
For example, if a country has abundant labor but scarce capital, it will tend to specialize in labor-intensive goods and export them, while importing capital-intensive goods. Conversely, a country that has abundant capital but scarce labor will tend to specialize in capital-intensive goods and export them, while importing labor-intensive goods. The theory predicts that trade will be mutually beneficial, as countries will be able to obtain goods that are relatively cheaper to produce in other countries, based on their factor endowments.
The Heckscher-Ohlin theory is based on the assumptions of perfect competition, identical production technologies, and the absence of trade barriers, and it is often contrasted with the theory of comparative advantage, which is based on differences in labor productivity.
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Please share why you would be a unique addition to the brand or this specific role.
Mention the job description's mentioned qualifications. Give instances from your own experience. Mention previous successes or outcomes from previous employment.
Why you would be a unique addition to the brand or this specific role ?Peter Drucker introduced the idea of a person's "unique contribution" to his or her firm while he was studying management. This characterises the person's worth. It could be a particular ability, knowledge, enthusiasm, talent, connections, interpersonal skills, political savvy, etc.
Highlighting your interest in the company because of its reputation, history, or industry-leading innovation is a common strategy for answering this question. This demonstrates your interest in the company's expansion, understanding of its current situation, and desire to participate in that journey.
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how would you characterize the competitive strategy of a high-end department store chain such as nordstrom?
Over the years, the Nordstrom family of employees have built a thriving company based on the principles of quality, value, choice and service.
Today, Nordstrom is one of the nation's leading fashion retailers, offering a wide range of quality clothing, footwear and accessories for men, women and children in stores nationwide.
Since our founding, we have adhered to our simple philosophy and gradually gained the trust of our customers.
Nordstrom meets consumer needs for high-quality fashion merchandise and superior customer service. For the typical Nordstrom buyer, price isn't an issue.
Implicit demand uncertainty is the uncertainty of demand due to part of the demand that the supply he chain is intended for, rather than all of the demand.
Luxury department store chains like Nordstrom are at the upper end of the scale of implied demand uncertainty.
Fashion items stocked by Nordstrom have very high product margins, high forecast errors, high stockouts, and at the end of the season, these items are sold at deep discounts in Nordstrom Rack outlet stores. .
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mason investing uses the capital asset pricing model to calculated expected return on its investments. if a stock investment has a beta of 1.2, an expected return of 10.6%, and the expected return on the market is 10%, what is the risk-free rate of return?
If a stock investment has a beta of 1.2, an expected return of 10.6%, and the expected return on the market is 10%, 80.02 is the risk-free rate of return.
The relationship between expected return for assets, particularly stocks, and systematic risk, or the general dangers of investing, is described by the Capital Asset Pricing Model (CAPM). The needed return on an investment and risk are connected linearly under this financial model. The equity risk premium, or the expected return on the market less the risk-free rate, is the foundation of the model. It is based on the relationship between an asset's beta, the risk-free rate (typically the rate on Treasury bills), and these two variables.
To quantify this systematic risk, the CAPM was created. Given the risk involved with the assets and the cost of capital, it is frequently used in finance to value hazardous securities and calculate expected returns.
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1) a pension fund manager must satisfy a liability of $9,000,000 in six years from now. assuming that an annual interest rate of 7.5% can be earned on any sum invested today, how much must the manager invest in order to have the funds necessary to meet the liability coming due 6 years from now?
The manager should invest $5,548,430.92 in order to have funds necessary to meet liability coming due 6 years from now.
What is a fund?A fund is a pool of money that is collected from various investors and is used for a specific investment purpose. These investments can be made in a variety of assets like stocks, bonds, real estate, or commodities. Funds are typically managed by professionals who use their expertise to make investment decisions on behalf of the investors. The investors in a fund receive returns based on the performance of the underlying assets. There are different types of funds such as mutual funds, exchange-traded funds (ETFs), hedge funds, and pension funds. Funds are a popular way for individuals to invest in a diversified portfolio of assets without having to manage them directly. They also offer economies of scale, lower transaction costs, and professional management.
PV = FV/(1 + r)^n
PV = $9,000,000 / (1 + 0.075) ^6
PV = $5,548,430.92
Therefore, manager must invest $5,548,430.92 today to have enough funds to meet liability of $9,000,000 in six years, assuming annual interest rate of 7.5%.
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Write a paper (1,600-1,800 words) in which you address the following based on the information provided in the "West Chester Private School Case Study" resource. 1. Review how organizations interact with their external environment (as open systems). Evaluate the effectiveness West Chester Private School (WCPS) as an open system at the time of the closure. 2. Review the readings provided for this topic on the internal environment of organizations. Evaluate the organizational culture at the time the decision to close two campuses was made. 3. Evaluate the decision made by Dr. Murphy and Educations Management Services (EMS) in terms of the process of going about the closure. Explain how the behavioral decision-making model was applied in the WCPS's decision to shut down its campuses. 4. Analyze one major technology and innovation challenge that WCPS faced and propose a solution that would make WCPS more competitive in meeting the needs of the three primary stakeholders affected. 5. Provide an explanation, using appropriate management theories, for how the administration could have handled the closure effectively with stakeholders. Include one theory from each of the following: the classical approach, the human relations approach, and the modern management approach. 6. Provide a suggestion of two goals: one long-term and one short-term goal for the future direction of WCPS. Include a justified rationale of the suggestions. 7. Concluding statement: Integrate the four functions of management as a means to revamp management at WCPS and meet the recommended goals
The term "organizational climate" refers to the broad and general perspective from which individuals inside an organization evaluate the practices, policies, and processes they come into contact with. The organizational climate and culture, which are two distinct phenomena, can be used to summarize an individual's experiences at work.
Write on the information provided in the "West Chester Private School Case Study".Today's world is characterized by a fluid and uncertain organizational environment. A large percentage of administrators are unable to recognize how unpredictable the future is. The connections and activities that take place in social institutions like schools cannot, in fact, be predicted in advance. With so many connections and options available, today's educational environments are full of uncertainty, making it challenging for administrators to investigate and identify potential issues and opportunities using traditional techniques.
With an open system, any company can share information with the community. The organization cannot freely decide how to conduct itself without consulting others under an open system because it is continuously under scrutiny from the outside world. Environmental elements like the availability of raw materials, customer expectations, and regional and national regulations all have an impact on a business. In order to explain the internal behavior of an organization, it is essential to comprehend how the aforementioned influences affect it. In open systems, hierarchical organization is by far the most pervasive characteristic. The West Chester Private School (WCPS) was successful as an open system during the closure, as evidenced by the following: West Chester Private School engaged with the outside world as an open system inefficiently and wastefully while two of its Phoenix locations were closing.
Organizational culture, on the other hand, is any institution's shared fundamental presumptions, attitudes, and values that are instilled in all new employees. The myths and tales people spread about how employees carry out their duties in a company transfer the culture of that organization from one group of people to the next. The atmosphere at WCPS was not favorable for organizational success prior to the closure of the school. All sections of the school's staff, parents, and students were astonished. It's likely that the managers' failure to adequately inform staff members of the closure contributed to the shock.
All parties found it challenging to collaborate in evaluating the situation and reaching well-informed conclusions since the West Chester private schools lacked an effective communication culture. The general consensus regarding the WCPS's climate and cultural effectiveness is that it was negative and ineffectual. It goes through changes just before it closes. First, regulatory agencies within the local government thwarted WCPS's efforts to expand its campuses into Southern California. The administration was adamant about expanding its influence, but it disregarded the necessity to create a system that would improve the virtual learning experience. Second, it was clear that, despite the administration's best efforts, the organization was experiencing financial difficulties as a result of inadequate student participation.
The Charter School is an equally strong rival. In the first few months of 2019, the independently run Charter Schools launched two prestigious schools nearby the WCPS schools that were about to fall. Though they were aware of the competition the charter school would face, WCPS management did not take the necessary steps to be relevant and competitive. The WCPS has demonstrably proved that it is incapable of adapting to changing circumstances. During the COVID-19 outbreak, many schools were forced to use remote learning; as a result, all pupils needed access to a computer and a reliable internet connection to facilitate virtual learning.
The WCPS's waves grew stronger during the pandemic since the teachers did not have the necessary preparation in online classrooms. The academic staff's inability to adjust to emergency remote teaching (ERT) exacerbated the institution's problems. The use of virtual learning was limited to teachers who had prior experience with virtual educational technologies. Thus, it would not be incorrect to draw the conclusion that the school's sophisticated adaptive system was ineffective.
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if you are filing your tax return as an individual, you will need to itemize your taxes if?
If your allowable itemised deductions exceed your standard deduction or if you are required to itemise deductions because you are not eligible for the standard deduction, you should itemise your deductions. By itemising deductions on Schedule, Itemized Deductions.
You might be able to lower your tax. When you itemise deductions, you are outlining costs that will subsequently be deducted from your taxable income in order to lower it. In order to maximise your tax benefits, itemising is a useful strategy if the total amount of your expenses for the year exceeded the value of the standard deduction.
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an owner installs an antique fireplace in their living room. the cost is $20,000, but it only adds $7,000 in appraised value to the property overall. the homeowner is frustrated as they expected the added value to be at least equal to installation costs. which economic principle is demonstrated here?
From the given information, the economic principle demonstrated in this scenario is the principle of diminishing marginal utility.
The principle of diminishing marginal utility states that as a person consumes more of a good or service, the additional satisfaction or utility that they derive from each additional unit of the good or service tends to decrease. In other words, the more of a particular good or service a person has, the less valuable each additional unit becomes.
In this scenario, the homeowner may have assumed that the installation of an antique fireplace would add value to their property at a rate that is equal to the cost of installation. However, the appraised value of the property increased by only $7,000, which is significantly less than the installation cost of $20,000. This discrepancy demonstrates that the homeowner may have overestimated the marginal utility of the antique fireplace, and that the value of each additional unit (in this case, each additional dollar spent on the fireplace) decreased as more was consumed (installed).
Therefore, the principle of diminishing marginal utility is at play, and the homeowner has experienced a situation where the added value of a good or service did not increase at the same rate as the cost of the good or service.
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Answer:
The economic principle demonstrated here is the Law of Diminishing Returns, which states that each additional input in a production process yields smaller and smaller returns. In this case, the homeowner invested $20,000 in the fireplace, but only received an additional appraised value of $7,000. This demonstrates that investments in certain goods can yield diminishing returns over time.
what is the state intangible tax when a buyer assumes a mortgage of $60,000 and takes out a new mortgage of $20,000?
To replace one borrower in a mortgage with another borrower is referred to as: mortgage assignment
What is the process of taking on someone else's mortgage called?
With an assumable mortgage, the buyer can buy a house by taking over the seller's mortgage debt. If interest rates have increased since the seller first bought the house, one reason buyers opt to purchase a home with an assumable mortgage is to benefit from financing with a cheaper interest rate.
What are the five criteria that make a contract enforceable?
Mutual consent, demonstrated by a valid offer and acceptance, sufficient consideration, capability, and legality are the fundamental components needed for the agreement to be a legally enforceable contract.
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donner company is selling a piece of land adjacent to its business premises. an appraisal reported the market value of the land to be $99,000. the focus company initially offered to buy the land for $112,000. the companies settled on a purchase price of $212,000. on the same day, another piece of land on the same block sold for $102,000. under the cost principle, at what amount should the land be recorded in the accounting records of focus company?
The land should be recorded as per the cost principle as equal to the purchase price which is $212,000 as it reflects the actual amount spent to purchase the land.
The given data is as follows:
Market land value = $99,000
The company initially offered a price = $112,000
The companies settled price = $212,000
another piece of land price = $102,000.
The cost principle is an accounting concept for recording assets in the books of accounts. This cost principle states that assets should be recorded at the actual price paid for the item. So, $212,000 is the actual money required to purchase the land. The phrase cost principle is also called the historical cost principle.
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on february 1, a customer's account balance of $4,100 was deemed to be uncollectible. what entry should be recorded on february 1 to record the write-off assuming the company uses the allowance method?
On February 1, a customer's account balance of $4,100 was deemed to be uncollectible. Debit Allowance for Doubtful Accounts $2,300 and credit Accounts Receivable $2,300.
If a certain customer's accounts receivable is recognized as uncollectible, the amount is written off by deleting it from Accounts Receivable.
Only balance sheet accounts are affected by the entry to write off a bad account: a debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.
Because this write-off is "covered" by earlier adjusting entries for expected bad debts expenditure, no expense or loss is indicated on the income statement.
Let's take a look at an example of a write-off. On June 3, a customer purchases $1,400 in products from Gem Merchandising Co. on credit. On August 24, the same customer alerts Gem Merchandising Co. of its bankruptcy filing.
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item6 10 points ebookreferencescheck my work check my work button is now disabled item 6 which of the following is true? multiple choice the existence of generally accepted accounting principles (gaap) eliminates the need for professional judgment except in very unusual circumstances. federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors, but to management of the company as well. attaining a passing score on the part of the uniform cpa examination that covers professional ethics is evidence of integrity and commitment to ethical conduct. a professional accountant should resign his position rather than become involved in the distribution of financial statements indicating insolvency.
Option B is TRUE. because federal securities laws, such as the Securities Act of 1933 and the Securities Exchange Act of 1934, require that financial statements and other disclosures made by public companies be accurate and not misleading.
These laws hold not only the independent auditors, but also the management of the company, responsible for the accuracy and completeness of financial statements. Under the federal securities laws, it is unlawful to make any untrue statement of a material fact in connection with the sale or purchase of securities. This includes financial statements, which are required to be accurate and not misleading. The responsibility for the accuracy of financial statements rests with the company's management, as well as the independent auditors who audit the financial statements. Therefore, if management is found to have knowingly issued misleading financial statements, they can be held liable under the federal securities laws.
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Item6 10 points Ebook references check my work check my work button is now disabled item 6 which of the following is true? multiple choice
A. The existence of generally accepted accounting principles (gaap) eliminates the need for professional judgment except in very unusual circumstances.
B. Federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors, but to management of the company as well.
C. Attaining a passing score on the part of the uniform cpa examination that covers professional ethics is evidence of integrity and commitment to ethical conduct.
D. A professional accountant should resign his position rather than become involved in the distribution of financial statements indicating insolvency.
in a small, closed economy, national income (gdp) is $350.00 million for the current year. individuals have spent $100.00 million on the consumption of goods and services. they have paid a total of $60.00 million in taxes, and the government has spent $75.00 million on goods and services this year. use this information and the national income identity to answer the questions. how much is spent on investment in this economy?
By using the given information and the national income we have calculated that $175 million is spent on investment in the economy.
The given data is as follows:
The national income (GDP) = $350.00 million
Money spent = $100.00 million
Taxes = $60.00 million
The government spent = $75.00 million
The computation of amount spent on the investment is calculated by using the formula,
GDP = Consumption + Investment + Government purchase + Net exports
Here, the investment amount is the unknown term and all the remaining values are known terms.
$350.00 million = $100 million + investment + $75 million
investment = $350.00 million - $175 million
investment = $175 million
Therefore, we can conclude that $175 million is spent on investment in the economy.
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how much do the half-time performers get paid at the super bowl?
The NFL doesn't actually pay artists in the Super Bowl halftime show.
What values would the Super Bowl promote?The word "Super Bowl" was coined by the late Kansas Chiefs owner Lamar Hunt, who thought the moniker was enough. According to Sports Illustrated, Lamar's proposal was "motivated by his son's Super Ball" toy.
The Super Bowl is called what for?Lamar Hunt, the illustrious owner of the Kansas City Chiefs, is credited with formally naming the third Super Bowl. Legend has it that Hunt had the idea for the Super Ball whenever the league was searching for a less complicated name for such event since he was aware that his daughter owned a Super Ball toy.
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in an acquisition where 100% control is acquired, how would the land accounts of the parent and the land accounts of the subsidiary be reported on consolidated financial statements? parent subsidiary a) book value book value b) book value fair value c) fair value fair value d) fair value book value e) cost cost
The acquisition technique utilised and the fair value of the assets determine how the land accounts are treated in a consolidated financial statement.
When a parent firm buys out a subsidiary at 100%, the land accounts of the parent and the subsidiary are combined and presented on consolidated financial statements. The specific accounting technique utilised for the acquisition determines the valuation methodology to be used to report the land accounts. If the book value method is used to account for the acquisition, the land accounts for the parent and the subsidiary are each recorded on the consolidated financial statements at their respective book values. Based on this methodology, the assets of the subsidiary are valued at their historical cost less accumulated depreciation and amortisation.
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The practice of businesses paying bloggers to write positive comments about the business is called ______.
The practice of businesses paying bloggers to write positive comments about the business is called Paid endorsement or sponsored content.
Sponsored content is top-notch content that support pays a distributor to make and disseminate. A kind of local promoting is steady with the encompassing substance on a website page.
All in all, supported content is a promotion that seems as though it should be there - it seems like a characteristic fit for a stage, rather than an obtrusive commercial. At its centre, supported content is straightforward: Two brands structure a supported substance organization - the promoter pays for the substance, and another brand, virtual entertainment powerhouse, or distributer shares it.
As a matter of fact, supported content is easy to such an extent that it's been around for north of 100 years. Also, it began with soap operas.
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