Answer:
The demand of a product may increase due to several factors, including a decrease in the product's price, an increase in the price of the competition (substitute products), a decrease in the price of complement, or an increase in consumer income.
The company can only control the price they charge for the product, but they do not control the other external factors. If the supplier is able to increase the quantity supplied, the equilibrium price might not vary at least in the short run. If the external factors continue then the equilibrium will probably increase.
If the quantity demanded for Colgate increases, but the supplier is not able to increase the quantity supplied, then the equilibrium price will increase due to a shortage of the product.
Christian spends a significant amount of his time at work performing tasks such as distributing work among his subordinates and arranging their shifts and tasks to be performed.This relates most closely to which managerial function?
Answer:
Distributing work among his subordinates and arranging their shifts and tasks to be performed is related most closely to controlling and analyzing performance against goals managerial function.
Explanation:
A manager is who is in charge of departments in companies, guiding the people, making decisions planning for better.
The are four functions of management in industries include distributing work among subordinates and arranging their shifts and tasks to be performed, controlling a workflow, analyzing performance against goals and leading to internal goals achievement.
Our company will continue to research and develop the latest technologies that lead to improvements in fermented organic treatments for endocrine disorders to improve the quality of life for people. This statement is an example of a company's ____________ statement. a. Promotion b. Vision c. Distribution d. Mission
Answer:
D. Mission
Explanation: Mission is a term used to describe the what an organisation is,what it want to achieve as it continues its business. Mission statement is vital to Organisational success as it puts all the departments,and sub units of the Organisation on the same level in terms of what is to be achieved by the Organisation. Mission statement is essential for building unity of purpose and execution of task in the Organisation as all are focused on the MISSION OF THE ORGANISATION.
Roommates Sarah and Zoe are hosting a Halloween party and have to make food for their guests and costumes for themselves. To finish both tasks as quickly as possible, Sarah and Zoe know that each of them should focus on just one task, but they don't know who should do what. To decide which roommate should do the cooking, Sarah and Zoe should determine which roommate:
A) has the largest production possibility frontier in cooking.
B) can complete the cooking in the least amount of time.
C) has the absolute advantage in cooking.
D) has the comparative advantage in cooking.
Answer:
) has the comparative advantage in cooking.
Explanation:
A person has comparative advantage in production if it produces at a lower opportunity cost when compared with other people.
Sarah and Zoe should engage in activities for which their opportunity cost is less.
I hope my answer helps you
Examples of humans depicted with the features of lions, bison, stags, or even plants suggests A. The existence of a religious life B. The notion that identities are fixed C. The idea that humans could assume the identity of other beings in nature D. A lack of understanding of the basic life cycle
Answer:
A. The existence of a religious life
Explanation:
The creatures which are half-animal and half-human or have features from animal ofter represent goods(Seth, Tiamat) or sons of goods (Horus)
They are described with qualities above normal human, like a good ability o see which is depicted as having the head of a falcon (Horus)
or to have mutation generate by the making of goods ( the medusa was raped by Poseidon and get hair of snakes)
Noah values his car at $10,000, and Emily values it at $14,000. If Emily buys it from Noah for $11,000, which of the following is true?
A) Noah gains $1,000 of value, and Emily gains $3,000 of value.
B) Noah gains $10,000 of value, and Emily loses $14,000 of value.
C) Noah gains $11,000 of value, and Emily loses $11,000 of value.
D) Noah and Emily both gain $11,000 of value.
Answer: The correct answer is a) Noah gains $1,000 of value, and Emily gains $3,000 of value
Explanation:
The gain to each person will be based on the value on the car.
Noah valued his car for $10000 and sold it for $11000. To him is gain is $1000 which is an increase in the value.
However, Emily's value on the same car is $14000. Since she purchased the car for $11000, she has made a gain/ savings of $3000.
__________ are norms considered to be less important, are unwritten, and are commonly understood standards of behavior among people who share an identity.
Answer:
Informal norms
Explanation:
These norms are commonly accepted and followed by people in general without having to be stated in written in the form of rules or regulations. These norms are imbibed by people during the course of time by observing body language, culture and behavior.
Nobody is penalized for not following informal norms. It becomes a habit in due course of time.
Jones Company has Cash of $600, Accounts Receivable of $500, Office Supplies of $100, and a Building with a cost of $50,000. Jones Company owes $300 on Accounts Payable and has Salaries Payable of $200. What is Jones Company’s ratio?
Answer:
The correct answer is 2.40.
Explanation:
According to the scenario, given data are as follows:
Cash = $600
Accounts Receivable = $500
Office supplies = $100
Cost of Building = $50,000
Accounts payable = $300
Salaries payable = $200
So, company's ratio can be calculated by following formula:
Company Ratio = Current Assets / Current Liabilities
Where, Current Assets = ( Cash + Accounts Receivable + Office supplies )
= ( $600 + $500 + $100 ) = $1,200
Current Liabilities = ( Accounts payable + Salaries payable )
= ( $300 + $200 ) = $500
Hence, Company Ratio = $1200 / $500
= 2.4
So, Jones Company's ratio is 2.4.
In the Colorado Contract to Buy & Sell , if the buyer receives a property inspection report on the day after the Inspection Objection Deadline , and the report contains several serious matters. The buyer:______
Answer:
Missed the opportunity to object based on inspections issues, and the contract is still in force.
Explanation:
There is a reason why the objection deadline exists; prior to that date the buyer can decide to not purchase the property without any negative consequences. But dates actually matter, and if the buyer didn't file an objection until that deadline, then the contact is enforceable. Once that date passes, they lost their opportunity to object the inspection item.
Herbert gained most of the capital for his new start-up project by posting a small demonstration of his product on a website that he created especially for the project. Many people showed genuine interest in his product and donated money to help him launch it. In the given scenario, Herbert:_____.
a. was able to fund his project through venture capital.
b. received money for his venture from angel investors.
c. received money for his venture through crowdfunding.
d. was able to fund his project through seed money.
Answer:d. was able to fund his project through seed money.
Explanation:Seed money is the money given to someone so that they can start their business venture , it is called a seed money because it is like planting a seed knowing that you will enjoy the fruits of its growth. People who give an entrepreneur this money help him or her get a start up capital whilst they also have hope that they would be part of his or her success and likely get the return as their investment in the future.
In which of the following conditions does arbitrage occur?
A. When a firm sells a product at higher prices to make a profit from relatively fewer sales.
B. When a firm prices its products at the least cost, risking losses, in order to grab market share.
C. When a firm offers a product at low prices through discount coupons and promotions.
D. When a firm purchases products in a country where prices are lower and resells them in a country where prices are higher.
E. When a firm imports products from a manufacturer and distributes them directly through retail outlets.
Answer:
D. When a firm purchases products in a country where prices are lower and resells them in a country where prices are higher.
Explanation:
Arbitrage is the buying of products/commodities such as shares at a given price and (in most cases) instantly selling at a profit in a different market/country. Differences in exchange rates are often exploited in the execution of an arbitrage to make a profit. Arbitrage is legal.
In other words, arbitrage can be said to occur when a firm purchases products in a country where prices are lower and resells them in a country where prices are higher.
An insurance agent is trying to sell you an immediate- retirement annuity, which for a single amount paid today will provide you with $12,000 at the end of each year for the next 25 years. You currently earn 9% on low-risk investments comparable to the retirement annuity. Ignoring taxes, what is the most you would pay for this annuity?
Answer:
present value = 24790.35
Explanation:
given data
amount paid today = $12,000
time = 25 year
rate = 9 %
solution
we get here present value that is express as
present value = future value ÷ [tex](1+rate)^{time}[/tex] ............................1
here future value is = amount paid today × time period
Future value =$12,000 × 25 = $300000
so present value = [tex]\frac{300000}{(1+0.09)^{25}}[/tex]
present value = 24790.35
Present Value of annuity is $117,870.96 (Approx.)
Given that;
Annual payment (P) = $12,000
Annual interest rate (r) = 9% = 0.09
Number of periods (n) = 25
Find:
Present Value of annuity
Computation:
Present Value of annuity = P[{1 - (1 / (1 + r) n} / r]
Present Value of annuity = $12,000[{1 - (1 / (1 + 0.09)25} / 0.09]
Present Value of annuity = $12,000[{1 - (1 / 8.62308066)} / 0.09]
Present Value of annuity = $12,000[0.884032164 / 0.09]
Present Value of annuity = $12,000 x 9.822579605
Present Value of annuity = $117,870.96
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An infant who begins to explore the environment by actively taking independent action is entering the:
tertiary circular reactions stage.
secondary circular reactions stage.
new adaptation and anticipation stage.
primary circular reactions stage.
Answer:
tertiary circular reactions stage.
Explanation:
Tertiary circular reactions stage starts at the age of 12 months to 18 months. it is the fifth sub stage of children development stages
At this stage the children try to explore the object by involving them like pulling the string, throwing the toys regularly. During this stage, children try to different different action in order to get attention from surrounding
Cynthia works at an engineering firm in Arizona that installs transmission lines and works with the electrical systems of buildings. She is in charge of strategic planning. Mostly her firm has worked with cities such as Tucson and Phoenix. Once in a while they will receive a major project from the state, such as renovating a government building in the capital. However, Cynthia's firm wants to expand its target market beyond government projects. Under her direction, the marketing team launched an initiative to target more potential clients in different areas. Two areas in which Cynthia would like to expand include colleges and large for-profit businesses. Refer to Scenario 6.1. A market is a group of individuals and/or organizations that have a desire or need for products in a product class and have the ability, willingness, and authority to purchase those products. There are two types of markets. Cynthia's organization targets the.
Answer:
Business Market
Explanation:
Cynthia works at an engineering firm in Arizona that installs transmission lines and works with the electrical systems of buildings. She is in charge of strategic planning. Mostly her firm has worked with cities such as Tucson and Phoenix. Once in a while they will receive a major project from the state, such as renovating a government building in the capital. However, Cynthia's firm wants to expand its target market beyond government projects. Under her direction, the marketing team launched an initiative to target more potential clients in different areas. Two areas in which Cynthia would like to expand include colleges and large for-profit businesses. Refer to Scenario 6.1. A market is a group of individuals and/or organizations that have a desire or need for products in a product class and have the ability, willingness, and authority to purchase those products. There are two types of markets. Cynthia's organization targets the.,,,,,
Cynthia's firm is interested in the business markets
A market is a place where buyers and sellers meet to transact goods and services. Business markets are essentially marketplaces corporations/organizations buys raw materials and components for finished products.
In this contest Cynthia's company will be interested in a business market because there are organisations that are in need of what her company produces. They have the capacity and the financial resources to purchase transmission lines and electrical installation services
Answer: The answer is Business market
Explanation:
A market can be defined as a people with need to satisfy, in which they also have the money to spend in order to satisfy these need and the willingness to spend the money to satisfy their need. A market is made up of the following kind which are
Consumer market : This market is made up of people who buy goods for personal use only and not for the purpose of reselling the goods for profit.
Industrial market : These markets consist of those individuals and organizations who buy goods and services for use in the production of other products or services
Institutional market: These markets consist of institutions such as schools, colleges, hospitals, universities, who buy goods in large quantities for use in the production of their own goods and services.
Resellers market: These consist of middlemen such as wholesalers and retailers who buy finished goods and resell them for the purpose of making a profit.
Business market : This is a market which consist an organization who buy finished goods for the production of their own goods and services
Recently, two nations experienced a trade dispute over copyright issues. Country "A" accused Country "B" of violating international copyright laws. Since both were members of ______________, they appealed to this organization to mediate the dispute.
A) The WTO (World Trade Organization)
B) IMF (International Monetary Fund)
C) GACT (General Agreement on Copyrights and Trademark)
D) A common market
Answer:
The answer is A.The WTO(world trade organization).
Explanation:
The World Trade Organization (WTO) deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
When a pharmaceutical company purchases a new fleet of Toyota Priuses for its sales staff, each of whom travels many miles daily on client visits, the company is consideredA. an entrepreneur. B. a reseller. C. an organizational buyer. D. an ultimate consumer. E. a marketing channel.
Answer:
C. an organizational buyer
Explanation:
organizational buyer - it is referred to as a section of professionals who represent any business. There are three types of buyers namely: the average spenders, the spendthrift, and tightwads
the spendthrift - it comprises 14% of the population of the buyer. They considered being the smallest group of the buyer.
Tightwads - comprise 24% of the population of the buyer. These buyers who do enjoy spending money while buying
Average spender - it comprises of 61% of the population of buyers. Their buying ability is based on persuasion and decision.
Mediocre economists often consider only the immediate apparent effects of a change, whereas a good economist will also consider effects that may only become observable over time. This statement most clearly emphasizes:
A. The fallacy of composition
B. Economizing behavior
C. The importance of secondary effects
D. The fact that association is not causation
Answer:
C. The importance of secondary effects
Explanation:
Secondary economic impact is a study of economic activities due to recurring rounds of spending by companies, households, and the government.
Secondary effects are long term and comes after the primary effect (first round of spending).
It is also called induced economic effect.
Select three characteristics of strategic decisions.
__ Long term, yearly, and multi-year time frames
__ Short term, daily, monthly, yearly time frames
__ Senior management, presidents, leaders, and executives employee types
__ Middle managers and director employee types
__ Unstructured, nonrecurring, one time decision types
Answer:
The correct answers are:
__ Long term, yearly and multi-year time frames.
__ Senior management, presidents, leaders and executives employee types.
__ Unstructured, nonrecurring and one time decision types.
Explanation:
To begin with, the strategic decisions are the ones that focuses in the long term of the company and that may be taken only by high superior managers or leaders of the business due to the fact that a lot of information and understanding of the dynamics of the business is required to make them, therefore it is quite understood that this decisions are unstructued because are the ones that are not taken daily inside the organization and therefore there is a need to plan every part of the strategy in advance and carefully.
Strategic decisions are characterized by long-term timelines, senior management decision-makers, and unstructured, nonrecurring nature. They shape the direction of a company over multiple years and are usually made by top-level executives.
Explanation:Three significant characteristics of strategic decisions include: long term, senior management, and unstructured, nonrecurring decision types. Strategic decisions are typically long-term, extending across multiple years and encompassing projects, initiatives, and investing activities that help to shape the direction of a company.
They are often made by senior management such as presidents, leaders, and executives of a company who have the decision-making authority and the overall vision of the company in their purview.
Lastly, strategic decisions are usually unstructured, nonrecurring, meaning that they tend not to be routine but rather unique decisions rotated around a particular challenge or opportunity the organization is facing at a certain point in time.
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During the new employee orientation, the training officer meets with the new EMTs and explains to them the monthly training schedule and the classes they must attend for EMT recertification. One of the new EMTs asks the training officer why they have to keep taking EMT courses if they already passed the EMT examination. What is the best answer?
Answer: EMS is constantly evolving in response to evidence-based research.
Explanation: Evidence-based research is the use of information to make decisions about a research and not an opinion.
It is a systematic process whose purpose is to congeal the best available research findings with historical and laboratory test results in order to optimize the process of making decisions.
it is any practice that relies on scientific and mathematical evidence to form strong inductive or deductive arguments for guidance and decision-making.
EMTs need to attend regular classes for recertification to stay updated on medical advancements and maintain their skills.
EMTs must attend regular classes for recertification to stay updated on the latest medical protocols, procedures, and advances in the field. While passing the initial EMT examination is crucial, continuous education ensures that EMTs maintain their knowledge and skills required for providing high-quality patient care.
Consider a society that must choose between making automobiles and tractors. The quantity of automobiles produced is graphed on the vertical axis on the PPF. What happens to the opportunity cost of making tractors as society moves to the right and down the curve?A) The opportunity cost stays the same.
B) The opportunity cost decreases substantially.
C) The opportunity cost decreases slightly.
D) The opportunity cost increases
Answer:
The correct answer is option D.
Explanation:
A society is assumed to produce two goods, automobiles and tractors. Automobiles are represented on the vertical axis while tractors are represented on the horizontal axis.
As society moves to the right on the production possibility frontier the quantity of tractors increases. At the same time, as the production of automobiles is reduced, the cost of giving up automobiles increases. In other words, the opportunity cost of producing tractors increases.
This happens because of substituting a resource for the production of another good.
Answer:
D) The opportunity cost increases
Explanation:
The law of increasing opportunity cost is the concept that as you continue to increase production of one good, the opportunity cost of producing that next unit increases. This comes about as you reallocate resources to produce one good that was better suited to produce the original good.
United Technologies is a good example of a ________ strategy because it uses individual or separate family brand names, including Otis elevators, Carrier heaters and air conditioners, Hamilton Sundstrand aerospace and industrial, and Sikorsky helicopters.
a. branded house
b. sub-brand
c. umbrella branding
d. category extension
e. house of brands
Answer:
e. house of brands
Explanation:
House of brands is when a company has many brands. Each one is independent, with its own target audience. They each communicate a unique brand value to customers.
United Technologies has adopted this strategy by developing various brands: Otis Elevators, Carrier Heaters and Air-conditioners, Sundstrand Aerospace, and Sikorsky Helicopters.
United Technologies employs a 'house of brands' strategy by maintaining unique brand identities for its divisions, such as Otis, Carrier, Hamilton Sundstrand, and Sikorsky helicopters, each with its own marketing and brand strategies.
United Technologies is a good example of a house of brands strategy. This approach is characterized by a company using individual or separate family brand names for different product lines or services it offers. United Technologies maintains distinct brand identities for each of its divisions, such as Otis elevators, Carrier heaters and air conditioners, Hamilton Sundstrand aerospace and industrial, and Sikorsky helicopters. Each of these brands operates independently, with its own brand strategy and marketing approach, which differentiates them from an umbrella branding strategy where a single brand name is used across different products or services.
"Creating a signature scent, choosing an original name, and configuring the shape and look of the bottle are all decisions made in the production phase of the value chain for a perfume company."A. TrueB. False
Answer:
False
Explanation:
Creating a signature scent, choosing an original name and configuring thr shape of and look of the bottle are decisions made during the product conceptualization stage.
Before a product is finally available to consumers, the product goes through certain steps. These steps ranges from product development, product conceptualization, to launching, etc.
During the conceptualization stage, the name of a product, the form of the product as well as other appearance related works are the main objectives during the project conceptualization cycle.
I hope this helps.
The statement is true. These decisions are part of the production phase of the value chain in a perfume company. The concepts of value chain also include activities like scent creation, branding like naming the perfume, and packaging including the bottle design.
Explanation:The statement is True. In the production phase of the value chain for a perfume company, the creation of a signature scent, the choice of an original name, and the configuration of the bottle's shape and appearance are indeed made. The value chain is a concept in business management that describes the full range of activities that firms carry out to bring a product or service from conception to final use by end consumers. In the context of a perfume company, this would include scent creation (involving the selection and combination of various essences), branding (including naming the perfume), and packaging (designing the bottle and packaging materials).
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Corinne has analyzed the overall attractiveness of doing business with three possible countries and has determined that Country A is the best choice based on the potential for huge economic growth that should occur there because of recent advances in technology. Which factor of overall attractiveness is Corinne basing her decision on?
Answer:
The answer is: Infrastructures
Explanation:
Entering an international market by a business requires a decision. However, there are some factors (good and bad) that may be considered and analyzed before coming up with the decision. These factors are: size & growth of the market, economic growth & levels of disposable income, exchange rates, ease of doing business, infrastructure, domestic competition, etc. They may contribute to the overall attractiveness of doing a business.
Clearly, Corinne is after the "Infrastructure" in Country A because she based her decision on the recent advances in technology. Infrastructures refer to buildings, facilities and other things that allows a society to function well. This includes the advancement in technology as well.
What is the meaning of the X- and Y-intercepts? A. These points demonstrate an inefficient use of resources. B. These points show the preferred amount of goods X and Y that a society will produce. C. These are the limits of production if all resources are used to produce only one good. D. These are the limits of production if all resources are used to produce both goods. Suppose the economy produced at a point inside the PPF. Why would an economy produce at this point? A. Inefficient production at full employment. B. Lack of the best possible technology. C. Unemployment or underemployment. D. All of the above. Suppose you succeeded in lifting your economy to a point on its PPF. What point would you choose? How might your small society decide the point at which it wanted to be? A. This depends on the value the society places on necessities and luxuries. B. The society will choose a combination that includes more luxuries than necessities. C. The society will choose a combination that includes the same amount of necessities and luxuries. D. A and C only.
Answer:
What is the meaning of the X- and Y-intercepts?C) These are the limits of production if all resources are used to produce only one good.
When the production possibilities frontier (PPF) intersects the X or Y axis, it shows the maximum output level if all the resources are used to produce only one good.
Why would an economy produce at this point?D) All of the above.
When an economy is producing at either intersection point (X or Y), it is usually not because of extreme specialization but rather due to failures or negative factors that prevent the production of the other good. Employment failures that lead to an ineffective allocation of labor or capital deficiencies which result in an ineffective allocation of capital resources (including technology).
Suppose you succeeded in lifting your economy to a point on its PPF. What point would you choose? How might your small society decide the point at which it wanted to be?A) This depends on the value the society places on necessities and luxuries.
The theory behind the PPF not only applies to economies, it also applies to consumers and the consumption possibilities frontier (CPF). Consumers decide what products to buy depending on how they want to satisfy their needs, either by purchasing products that satisfy basic necessities or purchasing luxury products.
Julius asks Rachel if she would like to sell her boat. Rachel privately has no interest in selling her boat, and believes that Julius can’t afford her boat anyway. Rachel says, "I’d sell my boat to you for $20,000." To Rachel’s surprise, Julius responds "Ok, it’s a deal." Rachel does not want to sell the boat to Julius for any price. Julius and Rachel have:________
a. formed a valid contract, because Rachel’s outward expressions showed the formation of a contract.
b. formed a valid contract, because Julius expressed outward interest in the boat.
c. not formed a valid contract, because Rachel did not want to sell the boat for any price.
d. not formed a valid contract because of lack of definiteness in the contract terms.
Answer:
Julius and Rachel have:
a. formed a valid contract, because Rachel’s outward expressions showed the formation of a contract.
Explanation:
A contract is a mutual agreement between two or more parties that is enforceable by law. A contract always creates a legal obligation between the parties that agreed to the contract. A contract can be written or spoken depending on the choice of the parties involved. A valid contract is a contract that is legally binding to the parties involved and thus the parties have a legal obligation to perform the contract duties as agreed. The following are some qualities of a valid contract;
1. There must be an offer, for example; Julius offered Rachel $20,000 for her boat.
2. Acceptance. The person being offered has to accept. In our case; Rachel expressed an acceptance of the offer by saying yes.
3. A promise to perform. since Rachel accepted the offer she expressed the desire to sell her bought to Julius thus a desire to perform.
4. Conditions of the contract. The terms of the contract should be stipulated to ensure that a contract breach is avoided.
The major qualities of a contract in general is that there has to be an offer and acceptance to that offer.
An estimation technique characterized by the dividing the project into smaller modules and then directly estimating the time and effort in terms of person-hours, person-weeks, or person-months for each module best describes__________
Answer:
Bottom-Up Estimating
Explanation:
Bottom-Up Estimating is a task the board strategy where the individuals who will take every necessary step partake in the evaluating procedure.
They work with you, the venture administrator, to create gauges for errands in the work breakdown structure.
It includes the estimation of work at the most reduced conceivable degree of detail.
In the text, all of the following are listed as characteristics of the counselor as a therapeutic person except: Group of answer choices A. counselors no longer have to cope with personal problems. B. counselors make mistakes and are willing to admit them. C. counselors make choices that are life oriented. D. counselors have a sense of humor.
Answer:
Option"A" is the correct answer of the following statement.
counselors no longer have to cope with personal problems.
Explanation:
A counselor is a professional person who is specially trained to give advice. Counselors give proper advice to people on the strength of their specialized training. A good example of a consultant might also be a business consultant who uses his or her specialized knowledge to make appropriate decisions for a business.
The counselor is also like a common person, he also has to face many difficulties in life.
The marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.True / False.
Answer:
False, because marketing activities generates product demand through its campaigns and segment targeting. Marketing enables the enhancement of product flow and defines the way the product must be distributed. The defination relates to logistics management. Logistic management is part of supply chain which includes from whom to purchase?, Where must the product reach in order to meet the customer needs and wants? and controlling this whole structure is the management of logistics.
Suppose that government officials want to increase the population, so they offer a $1,000 payment for to the parents of each child born. Which of the five foundations of economics best describes the thinking of these government officials?
a. opportunity cost.
b. incentives.
c. trade creates value.
d. marginal thinking.
Answer:
b. incentives.
Explanation:
Incentives are what makes or motivates economic agents to adopt a particular behaviour.
The incentive here is the $1000 that would be given for each child born.
All things being equal ,the $1000 would motivate people to have more babies.
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Qs 3-2 computing accrual and cash income lo c1 in its first year of operations, roma co. earned $64,000 in revenues and received $56,000 cash from these customers. the company incurred expenses of $35,000 but had not paid $8,100 of them at year-end. the company also prepaid $11,500 cash for costs that will not be expensed until the next year. calculate the first year's net income under both the cash basis and the accrual basis of accounting.
Answer:
$17,600 ; $29,000
Explanation:
The computation of the net income is shown below:
Based on Cash basis
= Received cash - Expenses incurred in cash - prepaid expenses
= $56,000 - $26,900 - $11,500
= $17,600
Based on Accrual basis
= Revenue earned - expenses incurred
= $64,000 - $35,000
= $29,000
The cash expenses incurred is
= $35,000 - $8,100
= $26,900
For the cash basis accounting, the net income is $17,600. In contrast, the net income under the accrual basis accounting is $40,500. This difference arises due to the differing treatment of cash flow and expense recognition between these two accounting methods.
Explanation:To calculate the net income under the cash basis and accrual basis of accounting, first, you need to understand the difference between them. The cash basis recognizes revenues and expenses only when cash is received or paid. The accrual basis, however, records revenues and expenses when they are earned and incurred, regardless of when money is exchanged.
Under the cash basis:
Revenue recognized = cash received from customers = $56,000Expenses recognized = cash paid for expenses (total expenses - unpaid expenses) + prepaid costs = ($35,000 - $8,100) + $11,500 = $38,400Net income = Revenue - Expenses = $56,000 - $38,400 = $17,600Under the accrual basis:
Revenue recognized = earned revenue = $64,000Expenses recognized = incurred expenses (total expenses - expenses not yet incurred) = $35,000 - $11,500 = $23,500Net income = Revenue - Expenses = $64,000 - $23,500 = $40,500Learn more about Cash Basis and Accrual Basis Accounting here:https://brainly.com/question/33698325
Both liberals who believe that the ethical assessment of work should be based on how work affects the workers' ability to make free and autonomous decisions about their lives and the human fulfillment school that makes that judgment on the basis of what makes a good meaningful human life are saying essentially the same thing.
a) true
b) false
Explanation:
Ethical assessment of work: It purely depends on the office environment. I can explain like,
how much of employee-friendliness exists in the company, how the work-life balance of employee experiencesThe amount of work pressure that the employee faceThe independence that they have in doing their work creatively or scope for creativity.Rather, human fulfillment school, purely deals with personal life. Its full of humanness.
So both are entirely different. Hence the statement stands false.