Answer:
Free-enterprise; government.
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Basically, there are four (4) main types of economy and these are;
I. Mixed economy.
II. Command economy.
III. Traditional economy.
IV. Free-enterprise economy.
A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.
Hence, in a free-enterprise system, supply and demand forces affect the production and consumption decisions. There is little to no government control in such a system.
The FINRA suitability rule requires all of the following EXCEPT: A Before a product or strategy can be recommended, a reasonable basis suitability determination must be completed, evaluating the investment's features, returns, costs and risks B Before a product or strategy can be recommended to a customer, it must be determined that the investment is suitable, based on that client's new account profile C Before a product or strategy can be recommended to a customer, it must be determined that the customer has the ability to meet the financial commitment required by the recommendation D Before a product or strategy can be recommended, the registered representative must understand and be able protect the client against the product's inherent risks
Answer: D. Before a product or strategy can be recommended, the registered representative must understand and be able protect the client against the product's inherent risks
Explanation:
There are some reviews with regards to FINRA suitability determinations whihc include:
• Reasonable Basis Suitability: This implies that after there has been a review of the returns, risks and costs of a product, the ones that has the best combination should be recommended.
Also, before a product can be recommended to a customer, the customer must be able to meet the financial commitment. The statement that "Before a product or strategy can be recommended, the registered representative must understand and be able protect the client against the product's inherent risks" is incorrect.
A seller wants to fix a leaky roof before listing the property with a firm. The seller does not want to spend any money on the repairs and hires a local high school student who took a woodworking class in high school to fix the roof. The seller does not mention anything about the roof to the listing licensee. A buyer submits an offer, which the seller accepts. After the transaction closes, the roof leaks and damages a hardwood floor the buyer installed. Which party could be liable to the buyer for damages
The seller would be at fault here. Their cheapness caused them to hire someone in high school who hasn't even gone to trade school. This is illegal. Afterwards, he lied to the listing licensee and buyer. Because of this lie, the hardwood floor was damaged as well as the roof.
The seller is now liable for lawsuits and suing.
Hope this helps! :D
Identify and explain one advantage and one disadvantage of leasing all the equipment used in the business.
Answer:
Advantage Is You Save Money, Disadvantage Is The Way That There's Not Enough Or Its Not Good Enough
Explanation:
Basically Yea
A house is being appraised using the sales comparison approach. The house has four bedrooms, three bathrooms, and no pool. The appraiser selects a comparable house that has three bedrooms, three bathrooms, and a pool. The comparable house just sold for $280,000. A bedroom is valued at $18,000, and a pool at $15,000. Assuming all else is equal, what is the adjusted value of the comparable?
Answer:
$283,000
Explanation:
Calculation to determine the adjusted value of the comparable
Using this formula
Adjusted value of the comparable= Comparable houseValue +Bedroom value- Pool value
Let plug in the formula
Adjusted value of the comparable=$280,000+$18,000-$15,000
Adjusted value of the comparable=$283,000
Therefore the adjusted value of the comparable is $283,000
Consider a simple economy that produces two goods: cupcakes and oranges. The following table shows the prices and quantities of the goods over a three-year period.
Use the information from the preceding table to fill in the following table.
Answer:
Nominal GDP
= (Price of cupcakes in year * quantity of cupcakes in year) + (Price of oranges in year * quantity of oranges in year)
2018
= (2 * 125) + (3 * 155)
= $715
2019
= (4 * 135) + ( 3 * 210)
= $1,170
2020
= (2 * 125) + (3 * 165)
= $745
Real GDP using 2018 as base year:
= (Price of cupcakes in 2018 * quantity of cupcakes in year) + (Price of oranges in 2018 * quantity of oranges in year)
2018
= (2 * 125) + (3 * 155)
= $715
2019
= (2 * 135) + (3 * 210)
= $900
2020
= (2 * 125) + (3 * 165)
= $745
GDP Deflator
= Nominal GDP in year / Real GDP in year * 100
2018
= 715/715 * 100
= 100
2019
= 1,170 / 900
= 130
2020
= 745/745 * 100
= 100
A company's financial objectives Multiple choice question. are lagging indicators that provide evidence of the success or failure of the company's past activities. are the most reliable predictors of future success in the marketplace. are leading indicators of a company's future financial performance and business prospects. signal that the company is well-positioned to sustain or improve performance.
Answer:
are leading indicators of a company's future financial performance and business prospects.
Explanation:
Various sorts of purposes, particularly financial objectives, are created by company owners to provide them with a strong strategy for following the path of comprising a cumulative Increased income, increased profit margins, retrenchment in times of adversity, and gaining good return on the investment are all key business company objectives.
What type(s) of compensation may be included in a human resource compensation system?
A. Indirect financial compensation
B. Non-Financial Compensation
C. Financial Compensation
D. Financial and non-financial compensation
A utility vehicle purchased by Knox Industries should last 110,000 miles. The acquisition cost was $21,400 and the salvage value is $1,926. Using the UOP depreciation method, given the annual usage information, calculate the accumulated depreciation at the end of year 2. (Round all dollar amounts to the nearest cent) YEAR MILES YEAR MILES 1 22,029 2 22,724 3 23,420 4 23,188
Answer:
$7,922.91
Explanation:
The computation of the accumulated depreciation at the end of year 2 is as followS:
But before that the depreciation rate is
= ($21,400 - $1,926) ÷ 110,000 miles
= 0.177
Now the first year depreciation is
= 0.177 × 22029
= $3,899.93
For year 2, it is
= 0.177 × 22,724
= $4,022. 97
So, the accumulated depreciation at the end of year 2 is
= $3,899.93 + $4022.97
= $7,922.91
Designing an effective marketing mix conveys to potential buyers a clear customer value proposition, which is a _____. Multiple choice question. statement that claims to offer customers the lowest possible price for the products sold plan of action that an organization adopts to support its mission and goals proposition made to customers about ensuring quality manufacturing cluster of benefits that an organization promises customers to satisfy their needs
Answer:
cluster of benefits that an organization promises customers to satisfy their needs
Explanation:
In order to create an effective marketing mix that represent the potential buyer an accurate customer value i.e. the benefits are cluster in which an organization promised to the customer to satisfy their needs and wants. The customer value proposition refer to the total benefits in which the company promised to the customer the satisfaction in return of the payment done by the customer
Visit a nearby office of a company or consult the office of your school. study the various types of human resources working there. prepare a report . ❣️
Please help me immediately ❣️❣️❣️❣️❣️
Answer:
hi
Explanation:
Mike Morgan, a sales representative for a major food service distributor of General Mill Warm Delights, wanted to encourage repeat purchases by his grocery customers. In order to accomplish this objective, Morgan offered the following discounts to his customers: a 10 percent discount for buying 1-49 cases of Warm Delights within a calendar month; the discount increases to 12 percent if 50-99 cases of Warm Delights are purchased within the same calendar month; and the discount increases to 15 percent if 100 or more cases of Warm Delights are purchased within the same calendar month. What type of discount was Morgan offering his grocery customers
Answer:
A quantity discount
Explanation:
A quantity discount analyses
This is often regarded as a technique used to examine the gradual growth change in cost between quantities all amidst or within a supplier's price quotation.
Its characteristics
1. This simply allows buyer to verify that quantity discounts are reasonable and also buyer may be able to negotiate price improvements
2. Buyer may be able to negotiate price improvements
Quantity Discount
This is simply a token or an incentive offered to a buyer that brings about in a decline in cost per unit of goods or materials when purchased in greater numbers. It is a marketing strategies used by sellers. It is offered by sellers to entice buyers to purchase in larger quantities.
Sioux Corporation is estimating the following sales for the first four months of next year:January$210,000February$280,000March$340,000April$370,000-Sales are normally collected 60% in the month of sale and 40% in the month following the sale. Based on this information, how much cash should Sioux expect to collect during the month of April
Answer:
$358,000
Explanation:
Calculation to determine how much cash should Sioux expect to collect during the month of April
April sales collected in April ($370,000 × 60%) $222,000
March sales collected in April ($340,000 × 40%) $136,000
Total cash collections in April $358,000
($222,000+$136,000)
Therefore the amount of cash that Sioux should expect to collect during the month of April is $358,000
What is the definition of customer service?
A. The advice provided by a customer service rep over the phone.
B. The advice given between employees to help customers.
C. The assistance provided by a company to people who buy or use its products or services.
D. The assistance provided by a sales rep on the sales floor.
Rightway Construction's project manager has been given the task of planning and implementing the construction of a playground for the city of Northville. All construction plans and documents have been provided as well as a budget amount and completion date. Based on the above scenario, and assuming the project manager has studied all construction plans and documents and reviewed the budget, the next step for the manager will be to __________.
Explanation:
create a project schedule flow chart
Brian Ferguson is a cashier at a 24-hour convenience store. He has worked the night shift for the last year and a half, and often fills in for other employees at the last minute, but has never received a raise. Furthermore, Brian just got passed over for a promotion to store manager, which would have nearly doubled his pay. Understandably, he is outraged. Because his employer is so
Answer:
Wages in Kind
Explanation:
The term that best describes Brian's actions would be Wages in Kind. This is because, Brian is taking the cases of beer and snacks as a form of payment. Regardless of whether he is right or wrong, Brian believes that he is being underpaid and in his mind taking these things is another form of payment as opposed to cash. Therefore, making up for the low wage that he is being paid and being a perfect example of wages in kind.
In your own words,explain why creating a budget and sticking to it is so important. Answer in at least 3-5 complete sentences.
Dividend growth rate is important to many investors. You are considering investing in a firm after looking at the firm's dividends over a sixyear period. At the end of the year 2010, the firm paid a dividend of $0.98. At yearend 2016, it paid a dividend of $1.64. What was the average annual growth rate of dividends for this firm?
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
Define the terms e-business and e-commerce and explain the difference. What is the key factor in determining if a transaction is "commerce"?
Answer: They both make use of the internet but what makes them different is that in e-commerce transactions are limited, while in e-business transactions are not limited.
Explanation:
E-commerce could be defined as carrying out online commercial activities or transactions by the use of internet.
While E- business is defined as carrying out all business activities online.
They both make use of the internet but what makes them different is that in e-commerce transactions are limited, while in e-business transactions are not limited.
A transaction is commerce once there is a buying and selling exchange.
Yasmin listed a house at a 6% commission rate, and it just sold for $463,500. Her brokerage and the buyer’s agent’s brokerage split the commission equally between them. Then Yasmin, who has a 60/40 commission split with her broker (Yasmin gets the higher split), took her check to the bank. How much did Yasmin earn from this transaction?
Answer:
$8,343
Explanation:
Calculation to determine How much did Yasmin earn from this transaction
First step to calculate the Total commission from sale
Total commission from sale= ($463,500 × 0.06)
Total commission from sale=$27,810
Second step is to calculate Yasmin's firm's share
Yasmin's firm's share= ($27,810 ÷ 2)
Yasmin's firm's share=$13,905
Now let calculate How much did Yasmin earn from this transaction
Yasmin's Earning = ($13,905 × 0.60)
Yasmin's Earning=$8,343
Therefore the amount that Yasmin earn from this transaction is $8,343
When Paul decided to become a real estate sales associate, he applied for his license. He was 23 years old at the time, had a college degree, and had previously owned a business--a lawn service company known as Green Acres Land Service, and he called himself John. He had been found guilty of several parking violations which had resulted in an outstanding warrant for his arrest. He paid the parking tickets and settled the arrest warrant. Does Paul have any other disclosures he needs to make?
Answer: Yes. He needs to disclose that he used another name for the previous business.
Explanation:
The licensing authority needs to know any of Paul's past history that could cast any judgement on his character so as to measure his integrity as real estate associates have to abide by certain ethics.
He therefore needs to disclose that he went by the name John when he owned the lawn service company to enable the licensing authority to research his activities whilst he owned the company.
Sandra Wilson is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and double time for work on Sunday. Wilson's regular rate is $12 per hour. During the week ended July 3, she worked 9 hours each day from Monday through Friday, 6 hours on Saturday, and 4 hours on Sunday. Wilson's overtime earnings for the week ended July 3 are a.$294. b.$180. c.$430. d.$360.
Answer:
a. $294
Explanation:
Number of hours worked each day = 9 hours
From Monday - Friday = 5 days
Total hours worked from Mon to Fri = 9 hours * 5 days
Total hours worked from Mon to Fri = 45 hours
Excess hours worked in 5 days = 45 hours - 40 hours
Excess hours worked in 5 days = 5 hours
Regular rate = $12 per hour
Hourly rate in excess of regular hours worked = $12 * 1.5
Hourly rate in excess of regular hours worked = $18
Total excess hours worked till Saturday = 5 hours + 6 hours
Total excess hours worked till Saturday = 11 hours
Hours worked on Sunday = 4 hours
Hourly rate for worked on Sunday = $12 * 2
Hourly rate for worked on Sunday = $24
Overtime earnings = (Total excess hours worked till Saturday * Hourly rate in excess of regular hours worked) + (Hours worked on Sunday * Hours worked on Sunday)
Overtime earnings = (11 hours * $18) + (4 hours * $24)
Overtime earnings = $198 + $96
Overtime earnings = $294
These organization tend to be larger in size and small in numbers.
A)Corporation
B)Partnership
C)Cooperative
D)Proprietorship
Answer:
Alternative D
Explanation:
Because proprietorships are usually huge organizations that in a quantitive way is a few
what is the term for when businesses produce goods and services that consumers do not want
Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
A 55 year old woman wishes to remove funds from her Individual Retirement Account to remodel her house. The customer is subject to: A no tax liability B regular income tax liability only on the amount withdrawn C 10% penalty tax only on the amount withdrawn D both regular income tax liability and 10% penalty tax on the amount withdrawn
Answer:
D
Explanation:
with the tax you have to pay and the withdraw amount i would say that that woman will have a happy retierment and remodle her house
Cullumber Company incurred $800000 of research and development costs in its laboratory to develop a new product. It spent $150000 in legal fees for a patent granted on January 2, 2017. On July 31, 2017, Cullumber paid $62000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2017
Answer:
$212,000
Explanation:
Calculation to determine the total amount that should be debited to Patents through July 31, 2017
Using this formula
Total amount debited to Patents=Legal fees for patent+Legal fees in a successful defense of patent
Let plug in the formula
Total amount debited to Patents=$150,000+$62,000
Total amount debited to Patents=$212,000
Therefore the total amount that should be debited to Patents through July 31, 2017 is $212,000
Juan has some shares of risky stock from a start-up company, and other shares of stock from an established company with much less risk. It sounds as though Juan is diversifying his portfolio.
Answer: True
Explanation:
Diversifying a portfolio refers to investing in securities that either have a lower risk or risk that is not correlated such that the risk to the portfolio is reduced.
In this scenario, Juan is investing in different securities with varying risk levels so that the portfolio will not be completely wiped out if one security goes bust. To truly diversify his portfolio however, Juan should invest in more than other asset classes such as bonds
Suppose that over the past year, the real interest rate was 6 percent and the inflation rate was -2 percent. It follows that a. the dollar value of savings increased at 8 percent, and the purchasing power of savings increased at 6 percent. b. the dollar value of savings increased at 8 percent, and the purchasing power of savings increased at 4 percent. c. the dollar value of savings increased at 4 percent, and the purchasing power of savings increased at 6 percent. d. the dollar value of savings increased at 4 percent, and the purchasing power of savings increased at 8 percent.
Answer:
d
Explanation:
Nominal interest rate = real interest rate + inflation rate
6 - 2 = 4%
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
if inflation declined by 2 percent, it means purchasing power increased by 2%.
Total increase in purchasing power = 6 + 2 = 8
Near the end of 2010, the ledger of Stivers Company included the following accounts and balances: Allowance for Doubtful Accounts$ 1,000credit balance Bad Debt Expense 0balance Accounts Receivable 200,000 debit balance Cash collections on accounts receivable during 2010 amounted to $450,000. Sales revenue during 2010 amounted to $800,000, of which 75% was on credit, and it was estimated that 2% of the credit sales made in 2010 would ultimately become uncollectible. Before adjusting entries were made for 2010, a $10,000 account was determined to be uncollectible and written off by Stivers. In the adjustment process, Bad Debt Expense was recorded to 2010. This information is not reflected in the account balances above.After the above entries were posted to the ledger, calculate the balances of the Allowance for Doubtful Accounts, Bad Debt Expense and Accounts Receivable. Indicate whether the balance is a debit or a credit.
Answer and Explanation:
The computation of the balances of the Allowance for Doubtful Accounts, Bad Debt Expense and Accounts Receivable is shown below;
For Accounts receivable
a) Opening balance $200,000 Debit balance
b) Current year credit sales (75% of $800,000) $600,000 Debit balance
c) (-) Current collection from accounts receivables -$450,000 Credit balance
d) (-) Bad debt expenses -$11,000 Credit balance
e) Closing balance of accounts receivables $339,000 Debit balance
for Allowance for Doubtful Accounts
Allowance required as per Current year analysis (2% of (75% of $800,000) $12,000 Credit balance
(-) Opening balance $1,000 Credit balance
$11,000 Credit balance
The journal entry is
Bad debt expense a/c …Dr 11000
To Allowance for Doubtful Accounts 11000
The Closing balance of Allowance for Doubtful Accounts 12000 Credit balance
For Bad debt expenses
The journal entry is
Bad debt expense a/c …Dr 11000
To Allowance for Doubtful Accounts 11000
The Closing balance of Bad debt expense account 0
Federal Insurance Contributions Act (FICA) Group of answer choices Federal law that requires the joint contribution by employers and employees of the funds used for the Social Security system. Federal law that requires the contribution only by employers of the funds used for the Social Security system. Federal law that requires the joint contribution only by employees of the funds used for the Social Security system. Federal law that requires the joint contribution by employers and employees of the funds used for employees who are in injured on the job.
Answer:
Federal law that requires the joint contribution by employers and employees of the funds used for the Social Security system
Explanation:
FICA refers to the federal law that needs the contribution made by both employers and employees with respect to the fund used for the social security purpose. It main purpose to fund the social security and the medicare that provide the facilities for those people who are retired, disabilities and deceased workers children
So the first option is correct
At December 31, Gill Co. reported accounts receivable of $246,000 and an allowance for uncollectible accounts of $1,200 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:
Answer:
the amount of the adjustment for uncollectible accounts would be $11,040
Explanation:
The computation of the amount of the adjustment for uncollectible accounts would be given below:
= Account receivable × uncollectible percentage + debit balance of the uncollectible accounts
= $246,000 × 4% + $1,200
= $9,480 + $1,200
= $11,040
Hence, the amount of the adjustment for uncollectible accounts would be $11,040