Answer:
Countries outside the United States use financial accounting standards issued by the;
b. IASB
Explanation:
Accounting can be defined as the profession of keeping financial records for future reference and planning. There are various bodies that issue accounting standards that need to be followed as accepted principles and practice, namely;
1. SEC
Also know as Securities and exchange Commission. This is a federal agency of the government that is independent and is charged with the responsibility of protecting investors and the regulation of security markets. It was formed by the Act of 1934 and has jurisdiction in the United States of America.
2. IASB
Also known as the International Accounting Standards Board. This is an independent private body constituted by accounting experts from different states that are vetted through strict regulations who are charged with the responsibility of developing and approving International Financial Reporting Standards. It was formed in 2001 as a replacement to International Accounting Standards Committee. It has jurisdiction internationally, even in countries outside the United States.
A business administrator in a school is determining how classes will be scheduled, which rooms will be allocated, and who will teach each subject in the curriculum. Which of the following management functions is illustrated in this scenario?
Organizing
The management function of organizing is illustrated in this scenario. Organizing is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in a company. See 1-2: Management Functions T/F
Answer:
The answer is True
Explanation:
Organizing is the process of developing an organizational structure, outlining of tasks to be done to meet the organization's goals, and the assignment of tasks to the individuals who best suit specific roles.
Importance of Organizing includes:
1. Efficient use of resources; because each employee is assigned roles they can best perform.
2. Efficient administration; because it harmonizes the various departments and creates the unification essential to meeting organizational goals.
3. Organizing creates efficient communication between different departments.
4. It creates organizational growth and expansion; because it ensures that no resource is wasted and that every member of an organization performs their assigned tasks.
Today there are approximately _____ African Americans serving as mayors, and ____ serving as members of Congress. Select one: a. 40%, 20 b. 50%, 4% c. 500, 40 d. 250, 20 e. 25%, 2%
Answer:
500, 40
Explanation:
Congress and mayors are an important part of any government as the decision they make can impact the general public. According to the latest data regarding the nationalities of mayor and congress; 500 African Americans are serving as mayors and 40% are serving as members of congress. African Americans are improving their participation in the congress, and are being elected by the general public based on their performance.
Approximately 25% of Congress consists of African Americans.
Explanation:The correct answer is e. 25%, 2%.
According to the information provided, in recent decades, Congress has become more descriptively representative of the United States.
However, Congress still falls short in terms of racial and ethnic diversity. While African Americans make up approximately 13.4% of the U.S. population, they are underrepresented in Congress, with only 25 African American members in the 117th Congress, including delegates and people who would soon resign to serve in the executive branch. Therefore, approximately 25% of Congress consists of African Americans.
As for the percentage of African Americans serving as mayors, there is no specific information provided in the given references. To accurately answer this part of the question, additional research would be required.
After working for a large firm for several years, tyler started his own landscaping design business. however, he soon ran out of money and was forced to close the business because he couldn't pay the expenses of the firm along with his personal expenses. Based on this information, what is the likely reason for tyler's business failure
Answer:
The answer is stated below:
Explanation:
Under this situation, where the Tyler, who is working in a large firm for several years, he started his own business for the same profile. But in a short period of time, the business ran out of the money and he is in a situation or condition, where he has to close the business as he unable to pay the firm expenses.
Grounded on the information, the reason of his business failure, is lack of financial planning as well as backing, which result in business unable to cover the operating cost of the business. Few years of experience of working led to inadequate knowledge of the operation cost and led to failure of his business.
Jacqueline was pleased to read a paraphrasing of the Golden Rule, "Do unto our customers as you would have them do unto you," as part of her new employer's mission statement. Next, Jacqueline expects to find in the firm's employee handbook:_____________
Answer:
Explicit rules governing all of the Frim's transaction
Explanation:
Employee hand book is some sort of manual that each employees can use to fulfill their part in the operation.
The handbook will consist of rules that the each employees should value, the type of things that the employees should avoid, and general description regarding on the things each employed have to do every day depending on their position in the company.
The rules that written in the employee's handbook tend to be explicit. It is made that way to minimize the chance of employee's misinterpretation toward the rules.
The Irwin's made an offer to purchase the Grey's property. As part of the offer, the Irwin's agreed to take title "subject to" an existing VA loan which the Greys obtained when they purchased the property in the approximate amount of $39,000. If the Greys sell to the Irwins under these conditions, which of the following is true concerning liability for a loss suffered by the government after a foreclosure on the VA loan: (a)The Irwins will be primarily liable. (b)The Greys and Irwins will be equally liable. (c)The Greys will be primarily liable. (d)Neither couple is liable because the Irwins took title "subject to" the existing loan.
Answer:
"C"
Explanation:
A prior approval is necessary for transfer of all liabilities in the situation of transfer of VA loan.Where the approval was not obtained and loan transferred under the condition of "subject to" the mortgage , the purchaser will not be responsible for the liabilities including the funding fees, except the retroactive approval of the approval is arranged , then the purchaser can take over the loan's liabilities.
Assume that the three beachfront parcels are sold to the people that you indicated in the previous section. Suppose that a few days after the last of those beachfront parcels is sold, another essentially identical beachfront parcel becomes available for sale at a minimum price of $560,000. This fourth parcel__1__ be sold because __2__ will purchase it from the seller for at least the minimum price.1) A. WillB. Will not2) A. No oneB. Ravi ($690,000)C. Maria ($720,000)D. Simone ($680,000)
Answer:
The correct answer is; This fourth parcel will not be sold because all buyers will purchase it from the seller for at least the minimum price.
Explanation:
All buyers are willing to buy although all are willing to pay more than the minimum price. the seller might need to increase price
Final answer:
The fourth beachfront parcel will be sold to Maria for at least $720,000, since her maximum price exceeds the minimum price of $560,000, making her the most likely buyer.
Explanation:
Based on the principles of supply and demand and market equilibrium, the availability of an additional beachfront parcel at a minimum price will attract a buyer if someone is willing to pay that price or higher. Considering that the figures given for Ravi, Maria, and Simone indicate their maximum willingness to pay for a beachfront property far exceeds the minimum listed price of $560,000 (Ravi at $690,000, Maria at $720,000, and Simone at $680,000), it stands to reason that the beachfront parcel will indeed be sold. Maria, being the highest bidder with a willingness to pay $720,000, would be the one to purchase the parcel, assuming no external changes in their willingness to pay or market conditions.
The answer to fill in the blanks would therefore be:
Will
Maria ($720,000)
Blue Apron delivers to your front door all the ingredients and instructions for preparing full meals for two or four people for several occasions weekly. Delivery to your home would constitute which element of the marketing mix for Blue Apron?
place
Answer:
Place
Explanation:
Place is is the part of marketing mix that determines how a product is delivered to the customer.
The strategy adopted by Blue Apron gives convinience to the customer as goods are delivered to their door step. Making Blue Apron have a competitive edge above those that do not perform this personalised service.
Eleana is recruiting candidates to fill vacancies for machine operators in her organization. After the interviews, she offered positions to four candidates. However, only two of them were finally hired. The __________ in the given scenario is 50 percent.
Answer:
Acceptance rate
Explanation:
Offer acceptance rate is the rate at which offers made to new recruits are accepted. Generally an acceptance rate of more than 90% shows there is a good match between new hire expectations and what the company has to offer.
The factors that could be responsible for low acceptance rate of 50%in Elena's company could be as a result of poor communication during the interview stage, company culture not aligning with new hires, or lack of competitive compensation.
Alfred had a typewriter shop, but he went out of business because no one buys typewriters anymore. Which economic principle does this statement BEST represent? People usually respond to incentives, exploiting opportunities to make themselves better off Choices are necessary because resources are scarce One person's spending is another person's income Markets move toward equilibrium.
Answer:
One person's spending is another person's income
Explanation:
The economic principle that this statement best represent is one person's spending is another person's income as this refers to the fact that when someone buys a product or service, the money paid represents earnings for the person that owns the business and the employees. In this case, the typewriter shop went out for business because people is not spending money in typewriters and because of that, Alfred doesn't get any income.
A girl is given $15 by her parents. She has two options of how to spend the money. She can either save the money for future purchases or she can start a lemonade stand on her driveway. If she spends her $15 on the lemonade stand, there is a 50% probability she will lose $10 and a 50% probability she will make $12. Assuming the girl has a square root utility function, what should the girl do with the money?
a. Start her lemonade stand.
b. Save her money.
c. The outcome is the same for both choices.
Answer:
B) Save her money.
Explanation:
The girl's utility of saving her money = √$15 = $3.87
If the girl starts her lemonade business, the expected utility of her investment = (50% x √$5) + (50% x √$27) = (50% x $2.236) + (50% x $5.196) = $1.118 + $2.598 = 3.72
Since the utility of saving her money ($3.87) is > than the utility obtained by the investment ($3.72), the girl should save her money.
In order to meet and exceed customer's expectations, firms must: a. answer the questions: who, what, when, where, how, and why as they apply to customers b. constantly manipulate customers' perceptions of their needs. c. successfully defend their established core competencies from imitation by competitors. d. continuously improve, innovate, and upgrade their core competencies.
Answer:
The correct answer is (D)
Explanation:
Customer satisfaction is the key to improve sales and gain maximum market share. Firms and organisations try different methods to diversify their products and exceed customer’s expectation. It is important that firms improve, innovate, and upgrade their products, operational and delivery system to exceed customer's satisfaction. As long as firms try to innovate the products they stay in the market and compete.
Which of the following is an example of a routine message? A. Lucas informs Ray that he is being transferred to another division within the company. B. Latisha is requesting a letter of recommendation from Joshua. C. The company is announcing a change in the employer-sponsored tuition reimbursement plan. D. The company is experiencing financial problems and is suspending employer contributions to the retirement plan. E. The company is announcing an impending merger.
Answer:
The company is announcing an impending merger
The managers of a car dealership have decided to utilize the Hawthorne effect to increase productivity, which means using cameras to film employees at work in order to isolate the parts of a job.
a) true
b) false
Answer:
False
Explanation:
The change in the behaviour of participants when they are aware that they are being observed is called Hawthorne effect. It can be defined as increase in output in response to being watched.
The term emerged with Hawthorne studies that tested the impact of various working condition variables on the productivity of the employees. Although experts do not believe that there was any Hawthorne effect in Hawthorne studies.
Hawthornian studies began around 1924 at the western Electric plant in Illinois, Chicago.
A(n) ________ is an unincorporated business owned and run by one individual in which there is no distinction between the business and the owner.
Answer:
Sole Proprietorship
Explanation:
Sole Proprietorship is a business enterprise owned, regulated & managed by a singe entrepreneur.
In this case, firm & enterprise are not separate but unanimous entities. It is unincorporated means that it doesn't have a separate legal entity.
So, the entrepreneur's liability towards firm's claims is unlimited, i.e entrepreneur's personal assets can be used to settle firm's liabilities.
This business form has advantages : Easy establishment & registration compliances, full freedom & decision making power.
It also has disadvantages : Unlimited Liability & Low expansion scope.
Trail Corporation has gross profits on sales of $140,000 and deductible expenses of $180,000. In addition, Trail has a net capital gain of $60,000. Trail's taxable income is Group of answer choices1. $20,000.00 2. $20,000.00 Loss3. $40,000.00 Loss 4. $60,000.00
Answer:
1. $20,000
Explanation:
Given: Gross Profits on sale $140,000
Deductible Expenses $180,000
Net Capital Gain: $60,000
An individual's taxable income is arrived at, by including all incomes and gains and deducting those losses and expenses which are allowed to be claimed or qualify for deduction.
Taxable Income = Gross Profit + Capital Gain - Deductible expenses
Taxable Income = $140,000 + $60,000 - $180,000
Taxable Income = $20,000
Cheizza, a pizza vendor in the country of Wisbane, believes that the taste of fresh cheese in its pizzas is its unique selling point. However, recently there has been a rise in the number of pizza vendors in Wisbane who have also started using fresh cheese to prepare their pizzas. This has led to a drastic increase in the demand for cheese. However, the amount of milk produced in the country is insufficient to meet the increased demand for cheese. In the context of changing environments, which of the following does this scenario best illustrate?
A. Resource scarcity.
B. Punctuated equilibrium.
C. Discontinuous change.
D. Buyer dependence.
Answer:
The correct answer is letter "A": Resource scarcity.
Explanation:
Resource scarcity is the basic economic problem by which individuals have unlimited wants and needs but rely on limited sources to fulfill them. Because of this situation, individuals have to trade-off the satisfaction of part of some needs so others can be satisfied as well.
In the example, the scarce resource is the milk that is useful to produce cheese for the pizzas sold in Wisbane.
Marginal analysis involves comparing the additional or extra benefit derived from consuming an additional unit of a product or service to the additional cost of consuming that unit of the product or service.
A. True
B. False
Answer:
A. True
Explanation:
Marginal refers to something extra. Marginal analysis refers to the analysis of comparing additional benefits of an activity with respect to additional costs attributable to that activity.
Marginal analysis takes into account the comparison between marginal utility and marginal costs.
Marginal utility refers to the addition to total utility when an additional unit of a product is consumed. Similarly, Marginal cost refers to the addition to total cost when an additional unit of a product is consumed.
Marginal Analysis serves as a tool for decision making in the sense, such an analysis reveals which activities are worth taking up and which processes need to be discontinued.
Which of the following is the correct computation of comprehensive income?a.Total Stockholders' Equity ± Accumulated Other Comprehensive Income = Comprehensive Income b.Net Income ± Other Comprehensive Income = Comprehensive Incomec.Retained Earnings ± Other Comprehensive Income = Comprehensive Incomed.None of these choices are correct.
Answer:
b.Net Income ± Other Comprehensive Income = Comprehensive Income
Explanation:
The formula to compute the correct computation of comprehensive income is shown below:
Comprehensive income = Net income ± other comprehensive income i.e unrealized income it can be gain or loss
where,
Net income is come by deducting the all expenses from all revenues earned during the year
It is a mix of net income and the other comprehensive income
Fred Arden is tried in a criminal court and found innocent of the charge of theft. Shawn Finister, the victim of the alleged crime, sues Fred in civil court to recover damages for civil conversion. The tort claim involves the same act for which Fred was found innocent in the criminal court. Which of the statements below is false?
a. Although such suits may be brought, plaintiffs seldom do so because criminal defendants are often judgment proof.
b. The civil court filing must be dismissed because of the constitutional right against double jeopardy.
c. Fred could also be sued if he had been found guilty.
d. The suit may be brought and recovery is possible in part because the burden of proof is less demanding in a civil trial.
Answer:
The civil court filing must be dismissed because of the constitutional right against double jeopardy.
Explanation:
Double jeopardy is the legal concept that protects a person from being tried again for the same or similar charge following his aquittal or conviction.
Fred Arden has been tried in criminal court and found innocent. Shawn is trying to sue him again for the same act in civil court.
This is against the rule of double jeopardy.
Short-term, intermediate-term, and long-term goals are similar in that all represent important financial objectives to be accomplished in the future. They differ in time horizon.
1 A short-term An intermediate-term A long-term goal can be accomplished within a 1-year period.
2. A short-term An intermediate-term A long-term goal may take from 1 year to 10 years to accomplish.
3. A short-term An intermediate-term A long-term goal is one for which it takes more than 10 years to accumulate the money
Answer:
Though its not explicity mentioned in the question, I am assuming you want to know the correct option. The correct option in this case is option 2.
Explanation:
As stated in the question, the difference in classifying goals as either long term, short term or intermediate depends on the time frame involved.
Short term goals can be achieved in a few months generally and are set to define goals with the time horizon of a maximum of 1 year.
A long term goal, as the term suggests, is one that takes a significant amount of time. Generally, long term goals are set using a time frame of 10 years.
Given that long term goals cover a longer time period while a short term goal covers a span of 1 year, individuals many times set intermediate goals to keep them motivated. Intermediate goals therefore generally cover a time frame of 2 to 5 years.
Therefore, in the context of the question, these three types of goals can take from 1 to 10 years to accomplish
Which of the Ten Principles of Economics does welfare economics explain more fully?A. The cost of something is what you give up to get it.B. Markets are usually a good way to organize economic activity.C. People respond to incentives.D. Rational people think at the margin.
Answer:
A
Explanation:
On January 1, 2018, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2018:
Cost Retail
Beginning inventory $73,150 $133,000
Net purchases 113,400 257,000
Net markups 8,000
Net markdowns 13,000
Net sales 224,000
Retail price index, 12/31/18 1.12
Calculate the estimated ending inventory and cost of goods sold for 2018.
1.Ending inventory at retail-
2.Ending inventory at cost-
3.Cost of goods sold-
Answer:
1) Ending inventory at retail = $161,000
2) Ending inventory at cost = $85,750
3) Cost of goods sold = $100,800
Explanation:
Estimated ending inventory at retail is:
Beginning inventory $73,150 $133,000
Plus: Net Purchases $113,400 $257,000
Net markups 8,000
Less: Net markdowns (13,000 )
Goods available for sale (excluding beginning inv.) $113,400 $252,000
Goods available for sale (including beginning inv.) $186,550 $385,000
Less: Net sales ($224,000)
Estimated ending inventory at retail = $385,000 - $224,000 = $161,000
Estimated ending inventory at cost:
cost to retail percentage (2018) $113,400 / $252,000 = 45%
cost to retail percentage (base) $73,150 / $133,000 = 55%
ending inventory at cost = [45% x ($161,000 - $133,000)] + (55% x $133,000) = $12,600 + $73,150 = $85,750
Cost of goods sold (COGS) = $224,000 x 45% = $100,800
Jennifer is updating the database for her company. She wants to delete customer records that have not made a purchase from more than 5 years ago but when she tries the database tells her that she can't because she must first delete the customer sales transactions records first. What is this referred to? Group of answer choices
Systems integrity
Referential integrity
Database reliability
Safety system constraints
Referential integrity
Explanation:
Referential integrity is when in a particular database an amount of data is given the same referential value as all other amounts of data. The value of all references are pitted to be equal in this mode.
Here even though Jennifer wants to delete the database for inactive clients she first would have to go through the database of the consumer sale records which might have important information,
Thus here it is a systemic flaw.
Jennifer is updating the database for her company. She wants to delete customer records that have not made a purchase from more than 5 years ago but when she tries the database tells her that she can't because she must first delete the customer sales transactions records first. This referred as Referential integrity. Referential integrity is when in a particular database an amount of data is given the same referential value as all other amounts of data.
What is a database?A database is information that is set up for easy access, management and updating. Computer databases typically store aggregations of data records or files that contain information, such as sales transactions, customer data, financials and product information.
Databases are used for storing, maintaining and accessing any sort of data. They collect information on people, places or things. That information is gathered in one place so that it can be observed and analyzed. Databases can be thought of as an organized collection of information.
Learn more about the Database here:
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ofia files a suit against turista airlines, inc. turista responds that it appears from the pleadings that the parties do not dispute the facts and the only question is how the law applies to those facts. turista supports this response with witnesses’ sworn statements. this is - а counterclaim.- a motion for judgment on the pleadings.- a motion for summary judgment.- a motion to dismiss
Answer:
a motion for summary judgment
Explanation:
An motion for a summary judgement (often referred to as a "MSJ") is an application for the court to decide not because of facts. The side bringing the motion claims that either the case should not be put in front of a jury or a jury can only decide for just the moving faction.
Mova Auto Inc. is analyzing the purchasing power, inflation rate, per capita income, and level of disposable income in the country of Cadmia. Based on this analysis, the company will decide whether to market its products in Cadmia. Which of the following external forces in the marketing environment is the primary focus of Mova Auto Inc. in this scenario?a. Technological and innovative forcesb. Political forcesc. Competitive and economic forcesd. Regulatory forcese. Social forces
Answer:
Option C is correct because Mova Auto Inc is analyzing the competitive factors and economic factors to assess whether or not to enter this market. Mova is assessing the economic conditions to judge whether or not the manufacturing its products here will give any competitive advantage and that will Mova be able to control its costs in the long run. Is is also assessing that with what amount would its investment grow, its demand of the product grow and the customer segment which it must target will also depend on inflation, purchasing power and disposable income.
Jennie signs a written instrument giving the bank a security interest in her car. This instrument is known as: a. a financing statement. b. collateral. c. a security interest. d. a security agreement.
Answer:C
Explanation:
Security interest
Suppose a firm produces 25 units. Fixed cost is currently $20 per unit and its total variable cost is $625. If the firm decides to increase its production level to 35 units, what would be the total cost?
Answer:
The total cost is $1,325.
Explanation:
A firm produces 25 units of a product.
The average fixed cost or fixed cost per unit is $20 per unit.
The total variable cost is $625.
If the firm decides to produce 35 units, the total cost will be equal tot he sum of total variable cost and total fixed cost.
Total Fixed Cost
= [tex]Fixed\ cost\ per\ unit\times Number\ of\ units[/tex]
= [tex]\$ 20 \times 35[/tex]
= $700
Total variable cost is given as $625.
The total cost is
= $625 + $700
= $1,325
Your company has completed an audience analysis for the manual you are writing for users of a new accounting system. The manual will be given to the 750 employees in the company's accounting department. Some members of the audience are experienced accountants and others are not; some have MBA degrees and others have bachelor's or associate's degrees; some were recently hired and some are long-term employees; some are managers and some are bookkeepers. How might you best accommodate your audiences?
A. Include different sections for the different audiences.
B. Write the manual to the highest level of the audience.
C. Write the manual to the lowest level of the audience.
Answer:
A
Explanation:
For an accounting manual, if your audience has different background of education then you need to keep different section for different audience. The thing is, if you write it for highest level then bookkeepers will have difficulty in understanding it. If you write for lower level, then it will be useless for higher level of audience.
So the manual should include different section for different audience.
Answer:
A.Include different sections for the different audiences.
Explanation:
Your company has completed an audience analysis for the manual you are writing for users of a new accounting system. The manual will be given to the 750 employees in the company's accounting department. Some members of the audience are experienced accountants and others are not; some have MBA degrees and others have bachelor's or associate's degrees; some were recently hired and some are long-term employees; some are managers and some are bookkeepers. How might you best accommodate your audiences?
Due to the varying class of audiences:some have many years of experience, some middle, some are recently hired, some have some professional degrees(which means that there assessment of your manual will be from a professional standpoint). It is best to include different sections for different audiences while reassuring them that the manual has been compiled bearing their knowledge/experience level on the subject matter in mind.
Let them know that the manual will be of utmost benefit to them, there experience/background notwithstanding.
Option A will be the best
Suppose a nation opened its borders to the free flow of workers from other nations. how would this event likely affect the long-run aggregate supply (lras) curve and the production possibilities curve of the nation?
a) the (lras) curve would shift to the right, and the production possibilities curve would not shift.
b) both curves would shift to the right.
c) neither curve would shift.
d) both curves would shift to the left.
e) the (lras) curve would shift to the left, and the production possibilities curve would shift to the right.
Answer:
B) both curves would shift to the right.
Explanation:
The long-run aggregate supply (LRAS) curve will shift to the right because the production costs will decrease, increasing total production output and lowering prices.
The production possibilities frontier (PPF) will also shift to the right because more production output increases total supply, and that increases the production possibilities of the country.
Zimway Inc is a small-scale manufacturer of linen. Couture Corp, a big apparel brand, purchases linen from Zimway in large quantities. Zimway, otherwise, has very few clients, and most of them purchase linen occasionally and in minimal quantities. Therefore, business ties with Couture is crucial for Zimway's survival and success. In the context of the specific environment, which of the following concepts is illustrated in the scenario?
A) Buyer dependence
B) Supplier dependence
C) Regulator dependence
D) Internal dependence
Answer:
The correct answer is letter "A": Buyer dependence.
Explanation:
Buyer dependence refers to the tied relationship between a buyer and the retailer or a retailer and the manufacturer. Without the purchase of the buyer or the retailer -according to what applies, the manufacturer could not continue operations since there would not be sales, meaning the company will have to stop the business due to the lack of profit.