Only the things that balance the book need to be adjusted. Items requiring bank reconciliation call for altering journal entries.
Reconciliation is a technique used in accounting to ensure that units of records, typically the balances of accounts, are in accord. To make sure that the money leaving an account matches the actual money spent, reconciliation is employed. This is accomplished by making sure the balances are in good shape at the end of a chosen accounting period.
The generally accepted accounting principles (GAAP) are a set of standards, procedures, and accounting concepts that organisations utilise to put together their financial statements. According to GAAP, the goal of account reconciliation is to provide financial accounts with correctness and consistency. Reconciliation accounts must be carried out to ensure that all expenditures and inlays match with the cash flow and profit statements.
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a market make is willing to buy a certain stock for $21.35 per share and sell it for $21.37 per share. here, $21.37 is the
A market maker is willing to buy a certain stock for $21.35 per share and sell it for $21.37 per share. here, $21.37 is the asking price.
A company or individual is referred to as a market maker if they actively quote two-sided markets for certain security by giving asks and bids as well as the market size for each. Market makers contribute liquidity and depth into markets and make money on the spread between the bid and ask prices.
By acquiring and transferring securities to fulfill the market, market makers basically take on the role of wholesalers; the prices they set take into account supply and demand. A security's price will be low if there is little demand for it and plenty of supply.
An entrepreneur or broker-dealer who trades stocks on a stock exchange for their own account is known as a market maker. Market makers profit from both collecting the spread and trading.
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A market maker is prepared to pay $21.35 per share to purchase a certain stock and to sell it for $21.37 per share. The asking price in this case is $21.37.
If a business or person actively quotes two-sided markets for a particular security by providing requests and bids as well as the market size for each, they are referred to as market makers. Market makers add liquidity and depth to markets and profit from the difference in price between the ask and bid prices.
Market makers essentially assume the function of wholesalers by purchasing and transferring securities to satisfy the market; the prices they establish take into consideration supply and demand. If there is a large supply of a security and little demand for it, the price will be low.
A market maker is a businessperson or broker-dealer who trades equities on a stock exchange for their own account. Market makers make money through trading as well as collecting the spread.
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Note: The complete question would be as bellow,
A market make is willing to buy a certain stock for $21.35 per share and sell it for $21.37 per share.
under nasaa rules, all of the following records must be retained for at least 5 years by a registered investment adviser except: cash receipts and disbursements order tickets written communications articles of incorporation
All of the records listed below must be kept by an RIA for at least five years, under NASAA regulations, EXCEPT: Constitutional documents
What is the nasaa's purpose?Members of NASAA issue licences to businesses and their representatives, look into infringements of federal, state, and local laws, bring legal action when necessary, and inform the public about investment fraud. Members of NASAA take part in information exchange and multi-state enforcement activities through the association. The NASAA model regulation was initially adopted by Maryland, Mississippi, and Vermont in 2021, requiring state-registered and federally covered investment advisor representatives to fulfil yearly continuing education obligations for the calendar year 2022. You can be certain that a product has been certified to the highest Australian standard when you see the NASAA Organic Label on it
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Is it acceptable to close the store let the employees walk to their cars and return to the store to finish a paperwork if you lock front door securely behind you . true or false ?
It is acceptable to close the store and let the employees walk to their cars and return to the store to finish paperwork if you lock the front door securely behind you. The given statement is true.
How do you handle robbery in the workplace?Call the local police force right away. Before the police show up, lock the office and make it secure. This process will aid in keeping the crime scene clean so that fingerprints and other physical evidence can be collected there. Keep any notes the thief may have left, such as one asking for money or valuables.
Assure them that what happened was not their fault. Allow emotional reactions to occur, be patient, and pay close attention as you listen. Being present is all that is necessary most of the time. A friend or family member of yours might express sadness, rage, or other emotions.
Thus, the given statement is true.
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During the sales-oriented era, firms found an answer to their _____ by adding salespeople to find new buyers.
During the sales-oriented era, firms found an answer to their overproduction by adding salespeople to find new buyers.
What were the key features of the market-oriented era?Market-driven era: a greater emphasis on serving client requirements and desires.
Marketing is about more than simply addressing needs and desires; customers also want a reasonable return on their investment.
Portrait and landscape are the two most popular orientations.
The phrase "portrait orientation" refers to the measurements used to capture a person's face and upper torso in a photograph; in such photographs, the height of the display area is bigger than the width.
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fill in the blank. a postindustrial economy is based on___, which is the provision of services rather than goods as a primary source of livelihood for workers and profit for owners and corporate shareholders. group of answer choices primary sector production secondary sector production tertiary sector production quaternary sector production
A postindustrial economy is based on tertiary sector production, services rather than goods as a primary source of livelihood for workers and profit for owners and corporate shareholders so option C is correct .
This sector of the frugality is concentrated on furnishing services to the general public, similar as healthcare, banking, education, tourism, retail, entertainment, and hospitality. It's different from primary sector product, which involves the birth of raw accoutrements from the terrain, and secondary sector product, which is the manufacturing of finished goods from raw accoutrements .
Quaternary sector product is a more recent development that involves conditioning similar as exploration, development, and invention. In a postindustrial frugality, the tertiary sector plays an decreasingly important part in creating profitable openings and furnishing employment to people.
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which of the following activities is most likely part of a typical work day for diane? monitoring long-term business trends that may have an impact on the organization reviewing the weekly schedule to see which shifts she is assigned to work reviewing departmental performance to determine whether managers are meeting their goals congratulating an employee on a job well done
checking departmental performance to see if managers are accomplishing their objectives. The answer is option (b).
What is the Department of performance?Performance reviews or evaluations are used to communicate the needs and goals of the organization for the future year, as well as to track employee development and satisfaction. The annual performance review process aims to improve working relationships, foster interaction, provide valuable feedback on work performance, provide such a historical record of achievement, and support career development.
A management examines an employee's job performance, recognizes strengths & flaws, provides comments, and sets objectives for future performance during a performance review, which is a testing process. Performance assessments and appraisals are other names for performance evaluations.
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Pretend that you are designing diversity training for your co-workers. What 3 concepts from this lesson would you include in this training and
why? Please support your response with specific examples from the text and the video (provide page numbers and time markers). Your initial
post must be a minimum of 6 sentences in length. Then provide 2-4 sentences of feedback to a minimum of 3 other posts.
In the preparation of a designing diversity training for co-workers, some important concepts that most be included in this training includes:
Understanding Implicit BiasIntersectionalityMicroaggressionsWhat do you mean by diversity training?Diversity training refers to any program that aims to promote positive intergroup interaction, reduce prejudice and discrimination, and teach people who are different from others how to work effectively together.
Understanding Implicit Bias in this training can help individuals recognize and challenge their own biases, leading to more inclusive and equitable workplace behavior.
Understanding intersectionality can help individuals understand and acknowledge the unique challenges that different groups of people face, as well as aid in the development of more inclusive and equitable policies and practices.
Understanding microaggressions can assist individuals in recognizing when they or others are engaging in harmful behavior, as well as in creating a more inclusive and equitable work environment.
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suppose mobile app engineers have been earning a high wage rate and the number of individuals becoming mobile app engineers doubles. then, in the market for mobile app engineers,
The need for mobile app engineers doubles as more people start working as mobile app engineers. The mobile app engineers' equilibrium wage rate decreases.
It is a situation where opposing forces or actions are in equilibrium. These forces or activities could be static (such as when a body is subjected to forces with zero consequences) or dynamic (such as in a reversible chemical reaction) when the rates of response are identical in both directions). If you enjoy action movies or science fiction, Equilibrium will not let you down. It does everything it does really well. A turbocharged form of intellectual entertainment, Equilibrium combines style and substance. The following forms can be found in equilibrium: a tabletop with an open book on it. a vehicle moving at a constant speed. a chemical reaction where the forward and backward reactions occur at the same speeds.
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Both global and world systems theorists predict that we are nearing the end of the capitalist era as we know it.True or False
True, A consensus has formed among global and world systems theorists that the current phase of capitalism is about to collapse.
Industrialization of mass companies like the cloth industry in England during the 16th and 18th centuries paved the way for capitalism, a system in which surplus capital is spent to boost output.
The development that set capitalism apart from other systems was the preference for investing surplus capital in expanding productive capacity rather than in economically inefficient endeavors like the construction of pyramids and cathedrals. Several moments in history served to inspire this trait.
These regimes' national power policies created the unified monetary and legal frameworks essential to economic growth and allowed for the gradual transition from public to private sector initiative.
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assume that you are the owner of campus connection, which specializes in items that interest students. at the end of january of the current year, you find (for january only) this information: sales, per the cash register tapes, of $150,000, plus one sale on credit (a special situation) of $2,500. with the help of a friend (who majored in accounting), you determine that all of the goods sold during january cost $70,000 to purchase. during the month, according to the checkbook, you paid $37,000 for salaries, rent, supplies, advertising, and other expenses; however, you have not yet paid the $900 monthly utilities for january.
The net income for January will be $67,100 with cash sales of $150,000, credit sales of $2,500 and salaries, rent supplies, advertising & other expenses being $37,000.
Give a brief account on net income.Sales less cost of goods sold, selling, general and administrative costs, operating costs, depreciation, interest, taxes, and other charges are used to calculate sales. The difference between these two amounts is known as net income (NI), also referred to as net earnings. This number may be used by investors to determine how much an organization's revenue exceeds its expenses. This number is a measure of profitability and can be found on an organization's income statement. Businesses utilize net income to compute their earnings per share. Business analysts frequently refer to net income as the bottom line because it is the last line item on the income statement. Analysts in the UK call NI shareholder-attributable profit.
To solve the question :
Sales :
Cash Sales $150,000
Credit Sales $2,500
Revenue from sales 175,000
Cost of goods sold ($70,000)
Gross profit 105,000
Less : Operating expenses
Salaries, rent supplies, advertising & other expense. ($37,000)
Utilities expenses ($900) (37,900)
Net Income 67,100
Hence, the Net Income is $67,100.
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The complete question is mentioned below :
Assume that you are the owner of campus connection, which specializes in items that interest students. At the end of january of the current year, you find (for January only) this information: sales, per the cash register tapes, of $150,000, plus one sale on credit (a special situation) of $2,500. with the help of a friend (who majored in accounting), you determine that all of the goods sold during january cost $70,000 to purchase. During the month, according to the checkbook, you paid $37,000 for salaries, rent, supplies, advertising, and other expenses; however, you have not yet paid the $900 monthly utilities for January.
On the basis of the data given (disregard income taxes), what was the amount of net income for January?. (Hint: A convenient form to use has the following major side captions: Revenue from Sales, Expenses, and the difference—Net Income.)
according to the fasb conceptual framework, which of the following is an essential characteristic of an asset?
The essential characteristic of an asset, according to the FASB Conceptual Framework, is that it is a resource with present service potential that is controlled by an entity as a result of past transactions or events.
The Financial Accounting Standards Board (FASB) Conceptual Framework defines an asset as a "probable future economic benefit obtained or controlled by a particular entity as a result of past transactions or events." The essential characteristics of an asset, as defined by the FASB, include: control, potential to produce future economic benefits, past transactions or events, and some uncertainty or risk that the potential economic benefits will not be realized. Control is the most important characteristic of an asset. An entity must have the ability to direct the use of, or obtain the benefits of, an asset. Potential to produce future economic benefits is the second characteristic of an asset. This means that an asset must have the potential to generate future economic benefits, such as cash flows or other forms of value. The third characteristic of an asset is that it must have resulted from a past transaction or event.
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Critical Thinking Questions
1. Elizabeth's company has asked her to write a list of ethical standards that can kickstart
conversations about their workplace policies. What four ethical standards should Elizabeth
include? Give one example of a workplace policy that could represent each of these four
standards.
2. Peter has recently found out that there has been a breach of confidentiality at his company.
What could this possibly mean? Give an example of what might have happened. What are
the possible consequences of this breach of confidentiality?
3. Cristina is giving a presentation on ethical behavior in the workplace. What should she
include in her presentation about personal and long-term consequences of unethical or
illegal behaviors in the workplace? How should she identify and explain what happens
when employees and companies engage in unethical behaviors?
4. Dwight has been named the safety compliance officer of his office. He is going to talk to
his employees about some personal and jobsite safety rules and regulations that maintain
safe and healthy work environments. He will also inform employees about OSHA
regulations. What are five main points he should include in his talk based on his goals?
5. Angela feels that her workplace is violating the Fair Labor Standards Act. What are three
things that this act requires that Angela's workplace might be violating?
1.The four ethical standards should Elizabeth include outcome-based ethics, utilitarian ethics, cost-benefit analysis and duty-based ethics.
2. A confidentiality violation can have a number of negative effects, such as legal fallout, strained company ties, and employee termination.
3. Obeying the company's rules, effective communication, taking responsibility, accountability, professionalism, trust and mutual respect for your colleagues at work.
4. Your workplace must be free of all known health and safety risks, according to your employer. Without worrying about retaliation, you have the right to speak up about risks.
Describe ethics in plain terms.It explores what is ethically right or wrong, just or unjust, and examines the intellectual foundations for our moral judgments. Ethics, taken in a broader sense, considers how people interact with one another and with nature, as well as how they should exercise their freedom and justice.
Ethics: What are they and why are they crucial?In order to have a beneficial impact with our choices and deeds, we must follow certain ethical norms. Our personal and professional life as well as business both depend heavily on ethics. Everybody is urged to act morally and to apply moral principles to all aspects of life.
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what will be the result of a market price above the equilibrium level? select the correct answer below: shortage surplus excess demand perfect balance in the market
Price over equilibrium causes a shortfall in the market because quantity demand falls while quantity supply rises.
It is a state of affairs in which conflicting forces or acts are in balance. These forces or activities could be static (such as when a body is subjected to forces with zero consequences) or dynamic (such as in a reversible chemical reaction) when the rates of reaction in both directions are equal) If you enjoy action movies or science fiction, Equilibrium will not let you down. It does everything it does really well. A turbocharged form of intellectual entertainment, Equilibrium combines style and substance. People are less likely to connect with one another and are more susceptible to manipulation when they lack emotions. Although ultimate tranquilly and "harmony" may be desired, they rob people of the emotions associated with being alive.
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What is a complete portfolio ?
Consider the following information about a risky portfolio that you manage and a risk-free asset: E(rp) = 11%, σp = 15%, rf = 5%
Your client wants to invest a proportion of her total investment budget in your risky fund to provide an expected rate of return on her overall or complete portfolio equal to 8%. What proportion should she invest in the risky portfolio, P, and what proportion in the risk-free asset?
What will be the standard deviation of the rate of return on her portfolio?
Another client wants the highest return possible subject to the constraint that you limit his standard deviation to be no more than 12%. Which client is more risk averse?
(_ )=8%=5%+×(11%−5%)⇒=(0.08−0.05)/(0.11−0.05)=0.5
_=×_=0.50×15%=7.5%
The first client is more risk averse, preferring investments that have less risk as evidenced by the lower standard deviation.
a closed-end fund starts the year with a net asset value of $24. by year-end, nav equals $25.30. at the beginning of the year, the fund is selling at a 2% premium to nav. by the end of the year, the fund is selling at a 7% discount to nav. the fund paid year-end distributions of income and capital gains of $2.70.
As per the given information the fund's net asset value (NAV) increased by 5.3% ($25.30 - $24.00 = $1.30).
Since the fund was selling at a 2% premium to NAV at the beginning of the year, the fund was trading at an effective NAV of $24.48 ($24.00 x 1.02). By the end of the year, the fund was trading at a 7% discount to NAV, or an effective NAV of $23.62 ($25.30 x 0.93). The fund paid out distributions of $2.70, so the fund's total return for the year was 7.1% ($2.70/$23.62).
Hence the correct answer is 5.3%.
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Which of the scattergraph plots above suggests a mixed cost relationship between direct labor-hours and manufacturing overhead?
The statement graph indicates a mixed cost association between direct labor hours and machine hours. It is growing.
The Scattergraph approach is what?In order to anticipate and budget for future expenses, its scattergraph (or scatter plots) approach is a visual tool used in accounting for distinguishing the fixed and fluctuating components of a sub expense (also known as a mixed cost).
What is the name of a scatter plot?Another name for a plot is an XY graph, scatter chart, or scattergram. The scatter diagram displays the relationship between pairs of numerical data by graphing them with one element on each axis.
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A PC technician knows he will be late to an appointment with a customer. Which of the following actions should the technician take? (Select TWO).
a. Blame your tardiness on heavy traffic.
b. Contact the customer and apologize.
c. Tell a joke to ease the situation.
d. Explain why you are late.
e. Give a realistic timeframe for your arrival.
C. Contact the customer and apologize.
D. Give a realistic timeframe for your arrival.
Computer technicians assist clients in locating and resolving problems with their computers. They look at a user's circuit board, disc drivers, and other parts when testing hardware. They employ a variety of diagnostic tools and programs to analyze a computer's software in order to find and fix functioning problems.
A PC professional is a specialist who analyses software problems as well as troubleshoots, maintains, installs, and repairs computer hardware. Any individual using a Desktop computer for work may typically get technical help and advice from the experts.
Between $38,550 and $39,720 was the average salary for both repair service technicians and pc operator technicians. Some people may find these positions to be too stressful and time-sensitive to handle; technicians are frequently emergency response workers.
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The technician has to complete the following actions
C. Speak with the client and offer an apology.
D. Estimate a reasonable arrival time.
Computer experts help customers locate and fix computer-related issues. When evaluating hardware, they examine a user's circuit board, disc drives, and other components. They examine a computer's software using a number of diagnostic tools and applications in order to identify and address functional issues.
A PC professional is an expert who diagnoses, maintains, instals, and fixes computer hardware in addition to troubleshooting software issues. Anyone who uses a desktop computer for business may usually acquire technical assistance and guidance from the professionals.
The average income for both repair service technicians and computer operator technicians ranged from $38,550 to $39,720. Since technicians are typically employed in emergency response roles, some individuals may find these professions to be too demanding and time-sensitive to handle.
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economists usually agree about: please choose the correct answer from the following choices, and then select the submit answer button. answer choices positive economics. economic policy. simplifying assumptions. their values.
Economist usually agree about positive economics. Positive economics are facts based.
Why do economists employ Positive statement ?Implementing normative value judgements can be aided by positive economic theory. For instance, it may explain how the government can affect inflation by increasing money production, and it could substantiate that claim with data and a behavioural analysis of the link between inflation and money supply increase. A branch of economics known as positive economics is concerned with describing, quantifying, and explaining economic processes, expectations, and related phenomena. The term "positive economic analysis" refers to the process of analysing numerous positive claims and procedures in order to determine what or how an economic problem is resolved. These are true assertions that express what was, is, and will be.
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You are given data on aluminum prices to make predictions on aluminum prices based on market changes. Aluminum is input and component of your cost structure. You find that when the price increased from 2 dollars to 10 dollars, the quantity supplied increased from five to seven. • Please use the midpoint formula and the information provided to select the appropriate inferences. The elasticity of supply is 1, and it is unit elastic. O The elasticity of supply is .25, and it is inelastic. The elasticity of supply is 5, and it is elastic. O The elasticity of supply is 2.5, and it is elastic.
The correct option is A The elasticity of supply is 1, and it is unit elastic. How sensitively a good's supply is to price fluctuations is determined by its price elasticity of supply.
The percentage change in quantity delivered divided by the percentage change in price is used to compute it. Price elasticity of supply refers to the percentage change in quantity supplied as a result of a particular percentage change in the commodity's own price. It is calculated by dividing the percent change in quantity provided by the percent change in price of the commodity. Supply is elastic if its price elasticity is larger than 1. Supply is unit elastic if its price elasticity is equal to.
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a flexible benefit plan allows an employee to allocate a predetermined amount of benefit dollars to various categories of benefits to design a benefit mix that best fits that employee's needs.
A. true
B. false
True. Flexible benefit plans allow employees to customize their benefits package to meet their individual needs.
Employees can choose from a variety of benefits, such as health insurance, retirement savings, and other types of insurance, and allocate a predetermined amount of benefit dollars to each category. This allows employees to design a benefit mix that best fits their needs and budget. A Flexible Benefits Plan (FBP) is part of an hand’s payment that gives them more control of which CTC factors they want to conclude-in for and how important under each element. With a growing focus on hand experience, companies these days are aware of the sweats and charges incurred by workers and use flexible benefits for bodying the payment structure and maintaining an hand-friendly culture. A Flexible Benefit Plan is nominated ‘ flexible because the company can fix or regulate packages as per Govt obedience, company morals, and the hand’s position.
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then identify and explain two distinct successes and two distinct failures of the reconstruction era
The fundamental goal of the Reconstruction era was to make sure that the divided country could be quickly united again after the war struggle.
President Andrew Johnson, who fought with radical Republicans in Congress over the course of the period after President Lincoln was assassinated, eventually took on the nascent Reconstruction movement.
The American Civil War came to an end on April 9, 1865, when Confederate General Robert E. Lee surrendered to then-Lt. General Ulysses S. Grant at the Appomattox Courthouse in Virginia. This marked the beginning of the Reconstruction era. Following an earlier agreement between Democrats and Republicans in Washington, the Reconstruction era would endure until March 31, 1877. As Democrats gained control of the South, the Compromise of 1877 would be the catalyst for the end of the Reconstruction era in America.
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if someone had invested $1 in 1930 they would have the most amount of money today if they had chosen:
If someone had invested $1 in 1930 they would have the most amount of money today if they had chosen to invest in stocks.
What Is an Investment?Investments are things or assets that are bought with the hope of making money or appreciating in value. An asset's value increasing over time is referred to as "appreciation." When someone purchases something as an investment, they don't expect to utilise it right away; instead, they want to use it to profit in the future. A typical definition of an investment is the use of a resource today—time, effort, money, or an asset—in the hope of earning a higher return than what was first invested. An investor, for instance, might purchase a financial asset now in the hopes that it would provide income later or be sold for greater money.
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Suppose that you are a member of the Board of Governors of the Federal Reserve System and the economy is experiencing an 8 percent inflation rate. Unemployment is at the full-employment level and the target interest rate is currently 4 percent.
a. If the economy is experiencing a sharp rise in inflation, as a member of the Board of Governors, you would recommend
decreasing the federal funds rate.
setting the federal funds rate equal to the discount rate.
setting the federal funds rate equal to zero.
increasing the federal funds rate.
b. To lower the inflation rate to 4 percent, you recommend contracting the supply
increasing the reserve ratio, the IOER rate, or the discount rate, or selling bonds.
decreasing the reserve ratio, increasing the IOER rate or the discount rate, or buying bonds.
increasing the reserve ratio, decreasing the IOER rate or the discount rate, or selling bonds.
decreasing the reserve ratio, the IOER rate, or the discount rate, or buying bonds.
c. The recommendations you provided above would
reduce the lending ability of the banking system, decrease the real interest rate, and increase investment spending, aggregate demand, and inflation.
increase the lending ability of the banking system, decrease the real interest rate, and increase investment spending, aggregate demand, and inflation.
reduce the lending ability of the banking system, increase the real interest rate, and reduce investment spending, aggregate demand, and inflation.
increase the lending ability of the banking system, decrease the real interest rate, and reduce investment spending, aggregate demand, and inflation.
a. If the economy is experiencing a sharp rise in inflation, as a member of the Board of Governors, you would recommend increasing the federal funds rate.
b. To lower the inflation rate to 4 percent, you recommend contracting the supply by decreasing the reserve ratio, increasing the IOER rate or the discount rate, or selling bonds.
c. The recommendations you provided above would reduce the lending ability of the banking system, increase the real interest rate, and reduce investment spending, aggregate demand, and inflation.
The federal funds rate is the interest rate at which banks lend money to each other overnight. The Federal Reserve can use several tools to contract the money supply, which will help to reduce inflation. One of these tools is the reserve ratio, which is the percentage of deposits that banks are required to hold in reserve. By increasing the reserve ratio, the Federal Reserve can make it more difficult for banks to lend money, which will decrease the money supply and slow down the economy.
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DURING THE CURRENT MONTH, STANDARD CORPORATION COMPLETED JOB 310 AND JOB 312. JOB 310 COST 70,000 AND JOB 312 COST 50,000. JOB 312 WAS SOLD ON ACCOUNT FOR 90,000. JOURNALIZE THE ENTRIES FOR THE COMPLETION OF THE TWO JOBS AND THE SALE OF JOB 312.
Journalizing the entries for the completion of Jobs 310 and 312 and the sale of Job 312 is as follows:
Journal Entries:Debit Finished Goods Inventory $120,000
Credit Work in Process $120,000
(To record the completion of Jobs 310 and 312.)
Debit Cost of Goods Sold $50,000
Credit Finished Goods Inventory $50,000
(To record the cost of goods sold, Job 312.)
Debit Accounts Receivable $90,000
Credit Sales Revenue $90,000
(To record the sale of Job 312 on account.)
What are the journal entries?Journal entries are the initial records of business transactions.
Journal entries identify the accounts involved in each transaction, signaling the accounts to be debited or credited in the general ledger.
Transaction Analysis:Finished Goods Inventory $120,000 Work in Process $120,000
Cost of Goods Sold $50,000 Finished Goods Inventory $50,000
Accounts Receivable $90,000 Sales Revenue $90,000
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When local store managers try to spot trends and changes so that they can respond to customer needs, they are attempting to ________.
A) increase the elasticity of supply
B) decrease the transaction costs
C) manage the external environment
D) increase the division of labor
Local store managers are attempting to manage the external environment when they try to spot trends and changes in order to respond to customer needs.
What is meant by managing external environment?The external environment in which the business, also known as the macro environment, includes all factors outside of the business's control that can have an impact on its operations. External factors influence business decisions by determining opportunities and risks.Managers can also actively work to influence their external environments by lobbying, voting, and influencing public opinion through the media. The organization is made up of internal elements. Internal change results from organizational activities and decisions.An external environment is made up of all the outside factors or influences that have an impact on how a business operates. To manage the flow of operations, the company must act or react. The external environment is classified into two types: microenvironment and macroenvironment.To learn more about external environment refer to :
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third-party payers use our coding data to determine how much they should pay health care professionals for the attention and services they provide patients
The statement above is refers to reimbursement. It is because the third-party payers should pay for the attention and services they provide patients.
In economic and business, Reimbursement generally can be defined as a condition when a business pays back an employee, client, or other people for money they spent out of their pocket or for overpaid money. There are several examples of reimbursement, such as getting money back for business costs, insurance premiums, and overpaid taxes, and others. There are also some examples of reimbursement in the business and identified as employee's reimbursement, such as business expenses, auto mileage and travel, medical expenses, and employee stipends.
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which of the following is not a determinant of demand or as we put in the content presentation, a demand shifter?
The market price is not a determinant of demand or a demand shifter. Demand shifters are factors that influence the quantity demanded of a good or service at each price level.
These factors include changes in consumer preferences, income levels, population, advertising, and prices of related goods (substitutes and complements).
However, the market price itself does not shift the demand curve; instead, it represents a point on the demand curve where the quantity demanded matches the market price.
Changes in price lead to movements along the demand curve, reflecting the inverse relationship between price and quantity demanded, rather than causing a shift in demand itself.
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true/false. the market system is not consistent with freedom of choice in the long run. effectively harnesses the incentives of workers and entrepreneurs. has slowly lost ground to emerging command systems. produces considerable inefficiency in the use of scarce resources.
The market system successfully uses worker and entrepreneur incentives.
What distinguishes each economic system from the others?The foundational elements of goods, services, and labor are the focus of traditional systems, which are affected by traditions and beliefs. Centralized power has an impact on command systems, whereas the dynamics of supply and demand control market systems. Finally, hybrid economies mix market and command systems.
Who controls the production factors in each economic system?Answer and justification In a market economy, private interests own the production factors. The means of production are privatized in a market economy, which means that they are in the hands of people or organizations that use resources to produce commodities and services.
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Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:
As the price of tickets rises from $250 to $300, the price elasticity of demand for business travelers is , and the price elasticity of demand for vacationers is (0.45/1/3.33/2.20) , using the midpoint method. Therefore, the demand for airline tickets in this price range is (more/less) elastic for vacationers because business travelers are(more/less)
The answer is 0.45, less, and more, respectively. The price elasticity of demand measures the sensitivity of quantity demanded to changes in price.
The lower the elasticity the less sensitive it is to changes in price, so vacationers are less elastic than business travelers. This means that the demand for airline tickets is more elastic for vacationers than business travelers.
Price elasticity quantifies how responsively a good's supply and demand are to changes in price. It is calculated by dividing by the percentage change in price the percentage change in quantity demanded—or delivered.
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at point a, the slope of the curve is 2,500 , which means that the plane isascending at a rate of2,500 feet per minute. (hint: calculating the slope, pay extra attention to the units of analysis.)
The slope of the blue curve represents the rate of ascent of the plane. Feet per minute is the unit of measurement for the slope of the curve.
The slope of the curve at point A is 2,500, indicating that the plane is ascending at a rate of 2,500 feet per minute.
Slope calculation. Choose two points along the curve. Assume a point A with a height of 5,000 feet and a time of 3 minutes, and another point with a height of 0 and a time of 1 minute.
Slope calculation = (5,000 - 0)/(3 - 1)
Slope calculation = 5,000 / 2
Slope calculation = 2,500 feet per minute
The slope of the curve at point B is 5,000, indicating that the plane is ascending at a rate of 5,000 feet per minute.
Slope calculation. Choose two points along the curve. Assume point B has a height of 25,000 feet and a time of 8 minutes, and another point has a height of 30,000 feet and a time of 9 minutes.
Slope calculation = (30,000 - 25,000)/(9 - 8)
Slope calculation = 5,000 / 1
Slope calculation = 5,000 feet per minute.
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repeat questions 3 and 4 under an assumption that demand is 10% below expected each day except the last. assume inventory-clearing prices on the last day.
The monetary value at which a traded security, asset, or item is in equilibrium is known as the clearing price.
How do you determine the clearing price?Plotting the supply and demand curves and locating the junction of the two will reveal it. The supply and demand equations can also be solved to come up with the answer.A price at which the supply and demand balance out is known as a market clearing price. At this point, any seller wanting to sell at or below the market clearing price, and any buyer ready to purchase at or above the market clearing price, may do so.The monetary value at which a traded security, asset, or item is in equilibrium is known as the clearing price.
10% ÷ 10% = 1
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