The principal is Rs 10,000, the interest rate is 10%, and the loan term is six years. The simple interest can be calculated as follows: A = 10,000 (1+0.1*6) = Rs. 16,000. Interest is 16000 divided by 10,000, or Rs. 6,000.
What is interest rate?The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate.
The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place.
The interest rate over a year is known as the annual interest rate. Other interest rates are applicable over shorter time frames, such a day or a month, but they are typically annualized.
An index of the preference for a dollar of present over a dollar of future has been used to describe the interest rate.
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the project manager identifies 20 tasks needed to complete their project. they have 4 project team members available to assign to these activities. the initial resource process of assigning personnel to project activities is known as
Twenty tasks are required to finish the project, according to the project manager. She has four members of the project team available to assign to these tasks. Resource loading is the process of allocating personnel to project activities.
A resource is an inanimate object, such as water, land, or air, that people appreciate and need. A resource is classified as renewable or nonrenewable if it can replace itself at the rate it is used up, whereas a nonrenewable resource has a finite supply. Natural resources include anything that comes from nature and is used by humans. Natural resources include stone, coal, metals, oil, gas, and sand. Sunlight, soil, water, and air are other natural resources. Furthermore, natural resources include fish, plants, birds, and animals. A resource is everything that is required to complete a task or conduct an activity in the context of business and economics.
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One of the most important things an international business person can do to avoid cultural misunderstandings is to
a. ensure that contracts are tightly worded
b. choose a common language like English
c. adopt a laissez faire attitude
d. listen to your client or customer
e. hire and interpreter
Listening to your customers or clients is one of the most crucial things an internationally entrepreneur can do to prevent cultural misconceptions.
What does the term customer mean?A shopper is a person or business that purchases goods or services from the other business. Customers are crucial since they generate revenue. A person or group is regarded as a customer if they have used the company's products or services.
Which types of customers are there?The one's who occasionally shop yet primarily rely the sales to complete purchases are known as discount shoppers. customers who are driven to buy a specific product out of necessity. Wandering purchasers are customers who are undecided of what they want to purchase.
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the marginal principle helps individuals decide: group of answer choices whether to live on the margins of society. whether to do a bit more of an activity or a bit less of it. whether to attend a university or not. how large a down payment to make when buying a new house.
The marginal principle aids people in deciding whether to engage in an activity slightly more or slightly less.
The marginal principle (MB) is a study of an activity's additional benefits in relation to its additional costs (MC).
According to the theory of marginal analysis, a manager should enhance activity to achieve the largest net profit whenever marginal benefit exceeds marginal cost. Similar to this, activity should be reduced if marginal cost is greater than marginal benefit. Marginal costing is an excellent method for making decisions. It helps management make judgements about pricing, comparing different production methods, determining the amount of production activity, shutting down production lines, and deciding which of several potential items to develop.
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a buyer and a seller enter into a valid sales contract. for personal reasons, the buyer asks to be released by the seller. the buyer also locates another person to buy the property. the seller then enters into a new sales contract with the new buyer and releases the first buyer. this is most likely an example of:
The buyer also locates another person to buy the property. The seller then enters into a new sales contract with the new buyer and releases the first buyer. This is most likely an example of: novation.
To novate is to supplant an old commitment with another one.
In agreement law, a novation replaces one of the gatherings in a two-party concurrence with an outsider, with the understanding of each of the three gatherings.
In a novate, the first agreement is void. The party that exits has surrendered its benefits and commitments.
In the financial business sectors, utilizing a clearinghouse to vet an exchange between two gatherings is known as a novation.
Novation is not quite the same as a task, where the first party to the understanding holds extreme obligation. Subsequently, the first agreement stays set up.
In legitimate language, novation is an exchange of both the "benefits and the weights" of an agreement to another party. Contract benefits might be anything. For instance, the advantage could be installments for administrations. The weights are the commitments taken on to procure the installment — in this model, the administrations. One party to the agreement will renounce the benefits and give up the obligations.
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the complete question is:
A buyer and a seller enter into a valid sales contract. For personal reasons, the buyer asks to be released by the seller. The buyer also locates another person to buy the property. The seller then enters into a new sales contract with the new buyer and releases the first buyer. This is most likely an example of:
1. assignment
2. novation
3. implied consent agreement
4. redemption
brenda plans to reduce ehr spending by 50 a month. what would be the future value of this reduced spending over the next 13 years
The future value of this reduced spending over the next 13 years is $8,765.9. This is the total annual savings.
How to describes a loan that is paid off in less than a year?
Annual savings
=Monthly spending reduction × Number of months per year
=$50 × 13
=$650
FV
=PMT × FV annuity table factor
=$650 × 13.486
=$8,765.9
Short-term debt is defined as financial commitments that must be paid within the next 12 months or during a company’s current fiscal year. Current liabilities are another word for short-term obligations.
Following are some examples of “good debts”:
Debt from student loans.
Debt owed on a home.
Debt incurred by a small firm.
Debt from a car loan.
Debt from credit cards.
Payday advances.
Borrowing in order to invest.
High-interest loans that are predatory.
In general, there are two categories of debt: secured debt and unsecured debt. There are two sorts of debt: revolving and installment debt. Aside from the fact that you owe money, these debts are distinct. Your mortgage, for example, is an example of secured debt.
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question: do you think your accounting education hs prepared you all roles as an accountant in business (see table 2.1)? which roles do you feel best prepared for? which roles do you feel least prepared for? why?
Accounting is important in business because it allows you to track income and expenses, ensure statutory compliance, and provide quantitative financial data to investors, management, and the government.
What is the role of accounting in business?The major roles of an accountant in a business extend beyond the process of accounting in a company's books. The accountant assists stakeholders, whether internal or external, in making better decisions by providing the financial information they require.Accounting benefits also includes keeping business records, preparing financial statements, comparing results, making decisions, and by providing evidence in legal proceedings. Provides information to related parties.Accountants can assist you in saving money and also increasing profitability by analyzing expenses and looking for possible improvements in cash flow management, debt reduction, negotiating with suppliers, cost control, forecasting, pricing maximization, profit planning, and better information reporting.To learn more about accounting refer to :
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By gathering, monitoring, and adjusting the company's financial information, an accountant assists firms in making important financial decisions.
They are in charge of conducting financial audits, comparing bank statements, and guaranteeing the accuracy of financial records all year long.
What functions does accounting serve in the classroom?Accounting's goal is to shed light on the outcomes of managerial choices. The goal of accounting education is to assist students in becoming qualified accountants.
What functions do accountants perform?Accounting is a system for quantifying and condensing corporate operations, analyzing financial data, and communicating the outcomes to management and other stakeholders to assist in improving business decisions.
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discuss the factors that cause a company to analyze the design of a supply chain network or to reconsider the location of a particular facility?
management attitude to risk; company size, resources and target market; the geographic location of the company; the company's customers, suppliers and competitors; and the structure of the company.
The causes of variability are due to short-term situations, such as: Available transportation capacity and its reliability. Planning and programming errors and data entry errors. out-of-stock inventory changes by factors other than price that will cause the entire supply curve to shift increase or decrease in market supply; these include the number of sellers in a market, the level of technology used in the production of a good, the prices of inputs used to produce a good, the amount of government regulation supply chain has five key elements: management attitude to risk; company size, resources and target market; the geographic location of the company; the company's customers, suppliers and competitors; and the structure of the company.
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dorothy has a weekly budget of $24, which she likes to spend on magazines and pies. if the price of a magazine is $4 each, what is the maximum number of magazines she could buy in a week?'
Compared to a $4 magazine, a pie costs $12. Due to the fact that $12/$4 equals the opportunity cost of three magazines, purchasing a pie carries a three magazine opportunity cost.
Which situations in life offer opportunities?
Taking on a new position, returning to school, or running into someone with connections are all examples of opportunities. You will be given the chance to take advantage of these chances and travel down certain paths that will help you realize your aspirations. Grabbing a chance is essential if we desire the best for our careers.
Opportunities are positive external elements that may provide a competitive edge for a company.
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Suppose that cars in year 2 are better than cars in year 1. That is, cars are of higher quality in year 2 in the sense that one car in year 2 is equivalent to 1. 2 cars in year 1. How does this change your calculations of Nominal GDP, GDP Price Deflator, and inflation rate from year 1 to year 2 using fixed price real GDP using year 1 as the base year. Explain any differences
The fixed real prices of the car using the base year 1 as GDP will be$ 15000.
What is GDP?The total monetary or market value of all finished goods and services produced within a nation's borders during a given time period is known as GDP. GDP is typically calculated annually, but it can also be calculated quarterly from time to time. For instance, the government in the United States releases an annualized GDP estimate for each fiscal quarter and for the entire year. Since the individual data sets in this report are presented in real terms, they have been adjusted for changes in prices and exclude inflation.All private and public consumption, government expenditures, investments, additions to private inventories, paid-in construction costs, and the foreign balance of trade are included in the GDP calculation of a nation. The value is increased by exports, while the value decreases by imports.The foreign trade balance is one of the most important parts of a country's GDP. A country's gross domestic product (GDP) typically rises when domestic producers sell more goods and services to other nations than domestic consumers buy from other nations. A country is said to have a trade surplus when this happens.A trade deficit occurs when domestic consumers spend more on foreign goods than domestic producers are able to sell to foreign customers—the opposite of the situation. A nation's GDP tends to decline in this scenario.GDP can be calculated on a nominal or real basis, with the latter taking inflation into account. Since it uses constant dollars, real GDP is a better overall method for expressing long-term national economic performance.It is a comprehensive scorecard of a nation's economic health because it is a broad measure of domestic production.learn more about GDP
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a wealthy district takes in $350 per student in property taxes. how much must it give back, per student, to the state of texas under the robin hood plan?
It give back, per student, to the state of Texas under the Robin Hood plan is 22.5.
The South Central region of the United States includes the state of Texas. It is the second-largest U.S. state in terms of size (after Alaska), with 268,596 square miles (695,662 km2), and population, with more than 30 million people in 2022. (after California). The Mexican states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas border Texas to the south and southwest, and it shares a coastline with the Gulf of Mexico to the southeast. Texas also has shared borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the The fourth-largest city in the United States, Houston has the highest population density in Texas.
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herokee incorporated is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.
An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period.
What is income Statement?An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period. It details the conversion of revenues into net income or net profit. A company's sales, costs, and profitability over time are displayed on an income statement. It may also go by the names profit-and-loss (P&L) or earnings statement. It displays your: revenue from the sale of goods or services; expenses incurred in generating revenue; and management of your business.Here, we'll prepare both a regular income statement and one that uses the contribution format.
Traditional Income Statement
Particulars Amount Amount
Sales $600,000
(20,000 units * $30)
Less: Manufacturing Expenses
Cost of goods sold $160,000
($24,000 + $180,000 - $44,000)
Gross Margin $440,000
Less: Operating Expenses
Administrative Expense $70,000
Selling expense $120,000 $190,000
Operating Income $250,000
Contribution format income Statement
Particulars Amount Amount
Sales $600,000
(20,000 units*$30)
Less: Variable Costs
Cost of goods sold $160,000
($24,000 + $180,000 - $44,000)
Variable selling expense $80,000
($4 X 20,000)
Variable Administrative Cost $40,000 $280,000
($2 X 20,000)
Contribution Margin $320,000
Less: Fixed Cost
Fixed Selling expense $40,000
Fixed Administration Expense $30,000
Net operating Income $250,000
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A company that makes kitchen chairs wants to calculate the productivity at one of its facilities. At the facility, 11 workers produced 280 chairs. What is the productivity of the facility? Calculate your answer to 2 decimal places
The productivity at one of the factories owned by a kitchen chair manufacturer is being estimated. 267 chairs were made by 14 employees at the plant.
Which chair is the world's most cosy?
Advertised as the "most comfortable chair in the world," the Gommes G-Plan swivel chair has wings. On several James Bond films, the villain has sat in one of these chairs, which were manufactured between 1965 and 1980. This seat was manufactured in 1965. Its name comes from the chair's wingback feature, which when viewed from the front gives it a "angelic" aspect. Comfort is guaranteed with this vibrantly designed armchair thanks to the sturdy, light-beech base with tapering legs and these "wings."
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the u.s. government subsidizes the production of ethanol from corn and requires gasoline to contain a specific percentage of ethanol.what are the unintended consequences of this program?
C) Cornbread and tortillas, both of which are made from corn, are more expensive as a result of this program's unintended effects.
Higher prices for food and grains. the unintended effects of a change that are felt over time but are not immediately apparent.
What is an illustration of the economic law of unintended consequences?Suppliers of plywood from outside the region, who would have been willing to quickly supply plywood at the higher market price, are less willing to do so at the government-controlled price, which is an unintended consequence. As a result, a product is not available where it is most needed.
What are market rates and an illustration?
The price that an item or service can now be bought or sold for is known as the market price. Supply and demand factors influence how much an asset or service will cost in the market. Market pricing is set at a level where quantity provided and amount requested are equal.
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Full Question = The U.S. government subsidizes the production of ethanol from corn and requires gasoline to contain a specific percentage of ethanol. What are the unintended consequences of this program?
1. higher corn prices
2. higher prices for cornbread and tortillas, products made from corn
3. lower prices for gasoline because corn is a renewable resource
A. 1 only
B. 2 only
C. 1 and 2
D. 1, 2 and 3
The area of accounting that focuses on reporting information to internal users is called managerial accounting. True or False?
True. Managerial accounting is a branch of accounting that focuses on providing information to internal users, such as managers, executives, and other decision-makers within an organization.
This information can be used to help managers make decisions about production, budgeting, and other aspects of running the business. Managerial accounting differs from financial accounting, which is focused on providing information to external users such as investors, creditors, and regulators. Financial accounting is primarily concerned with the preparation of financial statements and other reports that are used to assess the financial performance and position of a company. Managerial accounting provides information that is not reported in the financial statements, such as cost-volume-profit analysis, budgeting, standard costing, and variances. This information is used to support internal decision making and to provide insight into how to improve operations, such as cost management, inventory management, and pricing decisions.
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select all that apply two important characteristics of money market securities are multiple select question. maturity of one year or less. low face value. low liquidity. only issued by small firms. low interest rate risk.
Maturity of one year or less; low-interest rates
What qualities do money market securities have?Money Market Securities' characteristics. Money market securities are sometimes issued by big businesses, banks, and different governmental organizations to pay off short-term debt. These are frequently purchased by investors to add to long-term investments like equities and bonds in their portfolios.
What sort of securities is marketable, for instance?Common shares, corporate debt, banker's acceptances, Treasury notes, as well as other money market instruments are a few examples of marketable securities. Analysts assess marketable securities when doing a liquidity ratio assessment on a business or industry.
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a not-for-profit organization has always exactly one paid staff member for each volunteer team. each team has at least one member but may have many. what type of a relationship this is?
A non-profit organisation will never have more than one paid employee per volunteer team. Every squad should have at least one player, if not more.
The employer is who or what?
The term "employer" refers to a business, organisation, institution, government body, agency, professional services firm, nonprofit group, small business, retailer, or person who hires or otherwise places persons who may be referred to as employees or staff members to work. A salesperson at a store is an example of an employee. Because they are obligated to complete activities in a particular way, such wearing name badges and addressing customers in a particular way, the worker is seen as an employee.
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the cash t-account of salmon inc has a beginning balance of $20,000. during the year, $30,000 was debited and $35,000 was credited to the account. what is the ending balance of cash?
$5000.Income statement, statement of stockholders' equity, balance sheet, statement of cash flows is the correct order in which the financial statements should be prepared.
The income statement is prepared first because its result, Net Income, is needed as part of the other financial statements. Liabilities, revenue, and owner's capital accounts normally have credit balances. Schedule 3 of companies act, 2013 general instructions for preparation of balance sheet and statement of profit and loss of a company. Financial statements for a company whose financial statements are required to comply with the companies rules, 2006.Financial statements are the collective name given to Income statement and positional statement of an enterprise which show the financial position of business concern in organized manner. The first step of organizing is determining the activities to be performed. The total work is divided into smaller units which is called a job which is assigned to the individuals on the basis of their qualifications and capabilities.
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what positions are now more likely to be in the role of project manager as the result of increased focus on customer service? multiple select question.
1) Account executive and 3) sales representatives are now more likely to be in the role of project manager as the result of increased focus on customer service.
A customer service is an after-sales service that adds value to the product that customers have purchased. A good customer service must meet each customer's expectations for the goods they have purchased.
Example: A consumer encounters a minor issue after purchasing a smartphone. This smartphone customer service is capable of resolving this issue. Customer focus is the core of customer loyalty since it is your commitment to them that you will prioritize them.
According to the Zendesk Customer Experience Trends Report 2020, 74% of customers are devoted to a specific company, with 52% going out of their way to buy from their favorite brands.
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Complete question:
What positions are now more likely to be in the role of project manager as the result of increased focus on customer services?
1) Account executives
2) C-level managers
3) Sales representatives
4) Administrative assistants
You invested $16,000 in two accounts paying 8% and 9% annual interest, respectively. If the total interest earned for the year was $1370, how much was invested at each rate?
Let x and y represent amounts decided to invest at 8% and 9%, respectively know 0.08x + 0.09y equals $1,370 and that x + y = $16,000. When the equations solved, results are x = $10,000 and y = $6,000.
Put simply, what is investment?An asset as well as item acquired with the intention of earning profits or recognition is referred to as an investment. A purchase of goods which were not consumed right away but will be used to create wealth down the road is referred to as an investment in an economic outlook.
What kind of investment is this, specifically?The most popular ones are probably stocks, bonds, property, and ETFs/mutual funds. Real estate, certificates of deposit, annuities, cryptos, commodities, collectibles, as well as precious metals are additional investment options to think about.
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chargon flasks, a restaurant specializing in asian cuisine, focuses solely on customer satisfaction. it allows patrons to customize the quantity of their meals and only charges them half the price if their meal is unsatisfactory. the restaurant also has a voluntary service charge policy. in this context, which dimension of the business environment is affected the most?
In this context, it appears that the most affected dimension of the business environment is the competitive dimension.
The restaurant's focus on customer satisfaction and willingness to customize meals and offer a voluntary service charge policy sets it apart from other Asian cuisine restaurants. These unique policies may attract customers looking for a personalized dining experience and a willingness to adapt to their needs. Additionally, the half-price policy for unsatisfactory meals could also be seen as a way to build customer trust and loyalty. Overall, these strategies may give Chargon Flasks a competitive advantage in the restaurant industry.
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you are conducting a research interview, and some answers from the interviewee help you realize that your list of questions does not include some important information. the best way for you to continue with the interview is to
The best way for you to continue with the interview is to follow the new leads and then move back to your original question list.
What is a research interview?
An organisation may conduct a research interview with two people to learn more about a certain subject. You can be chosen by your employer to conduct interviews in order to gather the finest information available that will help you and your team determine how to enhance the business.
For instance, you may conduct interviews with a number of people and compare the results in an effort to validate the findings of your market research.
Since you are receiving responses on the broad strokes of a subject, the general interview method is more organised. It varies from an open-ended interview in that you have the freedom to ask questions that aren't related to this topic.
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candy originally marketed as a smoking cessation aid
We looked all over the internet and in various databases to find the correct answer to the puzzle clue Candy once marketed as an aid for quitting smoking and came up with the following.
What else do you understand by "marketed"?to strategically make products available to consumers in a way that motivates people to purchase more of them, such as through advertising: Their marketing for their items is quite astute. They promote their scents by using attractive males.
What examples can be used in marketing?The majority of objects that can be marketed are tangible goods that could be created or manufactured. Examples include food products, computers, music systems, and refrigerators.
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bart, inc., a newly organized corporation, uses the equity method of accounting for its 30% investment in rex co.'s common stock. during year 1, rex paid dividends of $300,000 and reported earnings of $900,000. in addition: the dividends received from rex are eligible for the 65% dividends received deduction. all the undistributed earnings of rex will be distributed in future years. there are no other temporary differences. bart's year 1 income tax rate is 30%. the enacted income tax rate after year 1 is 21%. in bart's december 31, year 1, balance sheet, the deferred income tax liability should be
Multiply total taxable brief differences by way of the expected tax fee at the time the differences will reverse—based on presently enacted law—to calculate the deferred tax
What is the charge of deferred tax?Therefore, it is developing a deferred tax asset of Rs. (25% x 10,000) or Rs. 2,500. There is no separate deferred tax fee accompanied in taxation practices in India; therefore, the familiar corporate tax fee is relevant in the calculation of deferred tax.
What is the journal entry for deferred tax liability?The e book entries of deferred tax is very simple. We have to create Deferred Tax legal responsibility A/c or Deferred Tax Asset A/c by way of debiting or crediting Profit & Loss A/c respectively. The Deferred Tax is created at regular tax rate.
How do you calculate deferred tax belongings and liabilities?Image end result for the enacted earnings tax fee after 12 months 1 is 21%. in bart's december 31, 12 months 1, stability sheet, the deferred earnings tax liability must be
Income as per Income tax authorities
In the given situation, extra tax paid today due to the difference amongst the earnings computed as per books of the employer and the earnings computed by way of the profits tax authorities is 12,60,000 – 12,00,000 = 60,000. This amount i.e. 60,000 will be termed as deferred tax asset (DTA).
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the process of building motivators into the job itself by making it more interesting and challenging is known as:
The process of building motivators into the job itself by making it more interesting and challenging is known as Job enrichment.
Job enrichment is referred as the process of adding motivators to existing roles in order to increase the satisfaction and the productivity for employee. Job enrichment can be done through increasing autonomy and skill and task variety. It can can also be done by providing feedback.
The main purpose of job enrichment is to make the jobs more motivating by increasing meaningfulness and responsibility of the results of a job. It is done in order to enrich the job with high motivating potential.
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describe the type of behavior expected from a company's employees
Cοre values and ethics describes the type of behaviοr expected frοm a company's employees.
What are the code of conduct's four guiding principles?The definitiοns and explanatiοns of the four basic ethical principles—beneficence, nonmale faience, autonomy, and justice—fοllow. The notion of autonomy gives rise tο the principles of informed cοnsent, stating the truth, and secrecy, each of which is examined.
What are business ethics principles?The twelve basic ethical values are: hοnesty, fairness, leadership, integrity, compassion, respect, responsibility, lοyalty, observance of the law, openness, and cοnsideration of the envirοnment.
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Complete question:
Fill in the blank
describe the type of behavior expected frοm a company's employees
Alpha Electronics manufactures and sells a line of music. Unfortunately, Alpha Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed and completely jumbled. Alpha Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials. (Click the icon to view the amounts.) Requirement Find the following amounts: a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory
a. Cost of Goods Sold in October = $16,500
b. Beginning Raw Materials Inventory = $1,500
c. Ending Finished Goods Inventory = $3,000
d. Ending Raw Materials Inventory = $2,500
What is the accounting equation?The theory used in this question is the accounting equation, which states that Assets = Liabilities + Equity.
In this case, the Assets are the Raw Materials Inventory, the Liabilities are the Cost of Goods Sold, and the Equity is the Finished Goods Inventory.
To determine the values of each of the components of the equation, we must subtract or add certain amounts to the equation.
The steps for this process are as follows:
a. Cost of Goods Sold in October = To find the Cost of Goods Sold in October, we need to calculate the cost of the goods that were manufactured and sold during the month.
We can do this by subtracting the ending Finished Goods Inventory from the total Cost of Goods Manufactured.
Cost of Goods Sold in October = Cost of Goods Manufactured - Ending Finished Goods Inventory
Cost of Goods Sold in October = $20,500 - $3,000
Cost of Goods Sold in October = $16,500
b. Beginning Raw Materials Inventory = To find the Beginning Raw Materials Inventory, we need to calculate the total amount of raw materials that were purchased during the month.
We can do this by subtracting the ending Raw Materials Inventory from the total Raw Materials Purchased.
Beginning Raw Materials Inventory = Raw Materials Purchased - Ending Raw Materials Inventory
Beginning Raw Materials Inventory = $4,000 - $2,500
Beginning Raw Materials Inventory = $1,500
c. Ending Finished Goods Inventory = To find the Ending Finished Goods Inventory,
we need to calculate the total amount of goods that were manufactured during the month.
We can do this by subtracting the Cost of Goods Sold from the total Cost of Goods Manufactured.
Ending Finished Goods Inventory = Cost of Goods Manufactured - Cost of Goods Sold
Ending Finished Goods Inventory = $20,500 - $16,500
Ending Finished Goods Inventory = $3,000
d. Ending Raw Materials Inventory = To find the Ending Raw Materials Inventory,
we need to calculate the total amount of raw materials that were left over after the manufacturing process.
We can do this by subtracting the Beginning Raw Materials Inventory from the total Raw Materials Purchased.
Ending Raw Materials Inventory = Raw Materials Purchased - Beginning Raw Materials Inventory
Ending Raw Materials Inventory = $4,000 - $1,500
Ending Raw Materials Inventory = $2,500
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measurement of information about a business in the monetary unit
SEC Securities and Exchange Commission Unit of Measure Information about a business measured in monetary units (USD)
GAAP stands for generally accepted accounting principles.
a public corporation. A company whose stock is bought and sold by investors.
What are monetary units used to measure?The monetary unit principle holds that money is treated as a unit of measurement and that all transactions or economic events recorded in a business's accounts can be expressed and measured in monetary terms by a currency. The money measurement concept (also known as the monetary measurement concept) emphasizes the fact that in accounting and economics in general, every recorded event or transaction is measured in terms of money, the monetary unit of measure in the local currency. A fact, occurrence, or event that cannot be expressed in monetary terms is not recorded in the accounting books under this principle. Thus, non-quantifiable items such as employee skill levels or the quality of excellent customer service are not acceptable.
"The Measuring Unit principle" (or stable measuring unit assumption) is a fundamental principle in historical cost accounting: the unit of measure in accounting must be the base money unit of the most relevant currency.
This principle also assumes a unit of measurement.
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holding companies are organizational forms that exist primarily to facilitate control over large family-owned businesses. [see p.146] group of answer choices true false
True. Holding companies are commercial structures that are typically used to facilitate control over huge family-owned enterprises.
What is commercial structure?
Any building used or intended for use as a country club, private or nonprofit meeting space, club, business office, bank, retail or wholesale establishment, lumberyard, nursery, proprietary school, professional office, or any other type of commercial, social, or community use is referred to as a "commercial structure" (excepting church or school structures). However, "commercial structure" shall not include any building or structure constructed or reconstructed for the elderly and handicapped pursuant to Title 15 of this Code, or pursuant to Title 25 or 26 of the California Administrative Code.
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manley operates a law practice on the accrual method and calendar year. at the beginning of the year, manley's firm had an allowance for doubtful accounts with a balance of $14,700. at the end of the year, manley recorded bad debt expense of $22,000 and the balance of doubtful accounts had increased to $19,000. what is manley's deduction for bad debt expense this year?
Manley uses the accrual technique and the calendar year to run his legal firm. Manley's business had a $14,700 balance in its allowance for doubtful accounts at the start of the year.
Manley recorded a bad debt expenditure of $22,000 at the end of the year, and the total amount of dubious accounts had climbed to $19,000. We must compute the change in the allowance for doubtful accounts throughout the course of the year in order to establish Manley's deduction for bad debt expenditure this year.
By deducting the initial balance of $14,700 from the final balance of $19,000, which represents a change of $4,300, it is possible to determine the change in the allowance for doubtful accounts. The change in the allowance for doubtful accounts must be added to the bad debt expense that was tallied at the end of the year in order to determine the bad debt expense deduction.
Manley's bad debt expenditure deduction would therefore be $4,300 plus $22,000 for a total of $26,300 for the year. This sum may be used to offset other revenue received by the company, so lowering the company's total taxable income.
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cheng is asked to conduct an stp analysis for his firm. the first step he should perform in this analysis is to
Cheng is asked to conduct an step analysis for his firm. the first step he should perform in this analysis is to divide the marketplace into subgroups.
The adage "If you strive to be everything to everyone, you'll wind up becoming nothing to anyone" is well known in the business world. Businesses all too frequently make the mistake of portraying their product(s) as something that "everyone" benefits from. Their rationale is this: if they cast their net wide enough, they're bound to catch enough customers soon
This approach is flawed in two ways :- The company's resources - budget and employees - get spread too thinly in chasing far-flung customer segments.
When this happens, the brand's value is lost among the company's "true" target customers.
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Complete question is:-
Cheng is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to:-
A. develop a business mission statement.
B. choose the best target markets.
C. reposition existing segments.
D. divide the marketplace into subgroups.
E. conduct a SWOT analysis.