$237,600 worth of investments that are available for sale will be shown on the balance sheet at fair value.
With the surplus funds of the business, short-term investments are bought with the intention of producing interest income and are intended to be traded quickly. At the conclusion of each period, the investments will be revalued to reflect the current market value, resulting in a valuation allowance and an unrealized gain or loss.
The Asset Section of the Balance Sheet includes information on the valuation allowance on investments that are available for sale.
Unrealized Gain or Loss on Trading Investment is disclosed in the Stockholder's Equity section of the balance sheet.
The presentation of Reggit Company's balance sheet, with an emphasis on the asset section, is shown below.
Reggit Company
Balance Sheet - Asset Section
As of December 31, 20xx
Assets:
Investments that are currently for sale, at a price 246,700
Value-Added Percentage (9,100)
Investment trading, at a fair value 237,600
In the section under "Stockholders' Equity" of the balance sheet, unrealized loss on an investment that is available for sale is disclosed. This will represent a deduction in the Equity Section and act as a counter account.
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A metes-and-block legal description
A legal description of meters and blocks is used to identify the exact geographic location of a country.
What are meters and blocks?Corresponds to legal demarcations of the territory of a country according to its deed, which substantiate its meters and limits defined by borders, rivers, roads or different markers.
This marker model is used in England, and was also used in the period of the thirteen American colonies, based on English laws.
Therefore, meters and blocks support the exact location of a country, with markers that guarantee its geographic identification.
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Oligopolists are tempted to produce more than the quantity that would maximize industry profits because when they increase output, A. the price effect is zero. B. the quantity effect is zero. C. the price effect equals the quantity effect. D. the price effect is larger than the quantity effect. E. the price effect is spread across multiple firms.
E) Oligopolists are compelled to create more than is necessary to optimize industry profits because, when they expand output, the price effect is dispersed throughout a number of enterprises.
In marketplaces that are neither monopolies, fully competitive, nor monopolistically competitive, many retail purchases are made by consumers. Instead, they are oligopolies. Oligopoly occurs when a small number of large enterprises account for all or almost all of an industry's sales. The auto industry, cable television, and commercial aviation are just a few examples of the several industries that display oligopoly. Oligopolistic businesses are similar to cats in a bag. Either way, they have the choice to rip each other to shreds or to embrace and get comfortable.
If there is fierce rivalry, which would push prices down and produce no profits for anyone, oligopolists may behave almost exactly like ideal rivals. Oligopolists may be able to act like a monopoly, raise prices, and provide a consistent flow of high profits if they work together in a conspiracy. Oligopolies are typically characterized by reciprocal interdependence, where decisions regarding output, price, advertising, and other things are contingent on those of the other business (s). When examining the decisions made by oligopolistic firms regarding pricing and amount produced, it is important to consider the benefits and drawbacks of competition versus collusion at a particular time.
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Customers commonly stop supporting a company for which of the following reasons?
The explanation is because the corporation has lost their trust and is behaving recklessly.
What is a company's straightforward definition?A corporation is a legal body founded by a group of persons to conduct in and operate the business or industrial—enterprise. Depending on the provisions of its country, a corporation may be set up in a variety of ways for tax , financial responsibility reasons.
How do companies differ from businesses?A firm may also be referred to as a "business." It's a general phrase that refers to all different kinds of business enterprises. Having said that, enterprises include fundamental entities that, in contrast to companies, aren't regarded as independent legal entities. For instance, a sole proprietorship isn't a distinct legal entity.
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Henley Corporation has bonds on the market with 20 years to maturity, a YTM of 11.3 percent, a par value of $1000, and a current price of $935. The bonds make semiannual payments. What must the coupon rate be on the bonds?
The coupon rate on the bonds will be 5.65%.
How to calculate the coupon rate?To calculate the coupon rate, you can use the formula:
Coupon Rate = (Annual Interest Payment / Par Value) x 100
Since the bonds make semiannual payments, you'll need to adjust the annual interest payment and the YTM accordingly. To do this, you can use the following formula:
Annual Interest Payment = (Coupon Rate / 2) x Par Value
Using this formula, you can solve for the coupon rate:
Coupon Rate = (Annual Interest Payment / Par Value) x 100
Coupon Rate = ( (YTM / 2) x Par Value ) / Par Value x 100
Coupon Rate = (YTM / 2) x 100
So in this case, the coupon rate is:
Coupon Rate = (11.3 / 2) x 100 = 5.65%
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in a free-market system the buyers and sellers together decide how many goods and services to produce. in command economies the decides what and how much should be produced.
a. true
b. false
The statement is True. In a free-market system the buyers and sellers together decide how many goods and services to produce. in command economies the decides what and how much should be produced.
The free market is an economic system in view of organic market with practically zero government control. It is an outline portrayal of all deliberate trades that occur in a given monetary climate. Unregulated economies are portrayed by an unconstrained and decentralized request of game plans through which people go with financial choices.
In light of its political and lawful principles, a nation's unrestricted economy might run between extremely huge or completely unlawful.
The expression "unregulated economy" is some of the time utilized as an equivalent for free enterprise private enterprise. At the point when the vast majority talk about the "unregulated economy," they mean an economy with unhindered contest and just confidential exchanges among purchasers and dealers. Be that as it may, a more comprehensive definition ought to incorporate any intentional financial action inasmuch as it isn't constrained by coercive focal specialists.
Utilizing this depiction, free enterprise free enterprise and willful communism are every instances of an unregulated economy, despite the fact that the last option incorporates normal responsibility for method for creation. The basic component is the shortfall of coercive inconveniences or limitations with respect to financial action.
Pressure may just happen in an unregulated economy by earlier shared understanding in a deliberate agreement, for example, legally binding cures upheld by misdeed regulation.
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if a profit-maximizing firm in a perfectly competitive market chooses to produce in the short run, then marginal cost is always
The argument is that greater output is increasing profit rather than decreasing it since marginal revenue exceeds marginal cost. If the company is manufacturing...
What is the synonym of increasing?
For this reason, increased output is contributing to profit rather than detracting from it because marginal revenue exceeds marginal cost. When the company produces... Augment, enlarge, and multiply are a few typical synonyms for the word increase. While all of these verbs have the same basic meaning of "to make or become greater," the term "increase" has a few different meanings depending on how it is employed. When used transitively, it might denote simple addition rather than necessarily gradual expansion in size, amount, or intensity. aging caused his waist to expand
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The suggested time for answering this question is about 22 minutes. Where calculations are required, clearly show how you arrived at your answer. Where explanation or discussion is required, support your answers with relevant information and/or specific examples.
Answer the questions below regarding the heating of a house in the Midwestern United States. Assume the following.
The house has 2,000 square feet of living space.
80,000 BTUs of heat per square foot are required to heat the house for the winter.
Natural gas is available at a cost of $5.00 per thousand cubic feet.
One cubic foot of natural gas supplies 1,000 BTUs of heat energy.
The furnace in the house is 80 percent efficient.
Calculate the following, showing all the steps of your calculations, including units.
The number of cubic feet of natural gas required to heat the house for one winter
The cost of heating the house for one winter
a.i) The number of cubic feet of natural gas required to heat the house for one winter is (2000 ft^2) (80,000 BTU/ft^2) (1 ft^3/1000 BTU) (1 BTU(in)/0.8 BTU (out)) = 200,000 ft^3.
a.ii) The cost of heating the house for one winter is (200,000 ft^3) ($5.00/1000 ft^3) = $1000.
What is heating of house?
The majority of homes in North America rely on their central furnace to keep them warm. When a furnace is operating, heated air is blown via ducts and then distributed around the house via air registers or grills. A ducted warm-air or forced warm-air distribution system is the name for this kind of heating system. It can run on fuel oil, natural gas, or electricity.
The U.S. Department of Energy is currently working on new furnace regulations, which should be approved in the spring of 2016. Since 1987, the present furnace requirements have not been revised.
The various heating system components' on and off times are controlled by the heating system controls. The thermostat, which turns on and off the system, or at least the distribution system, to keep you comfortable, is the most crucial control from your point of view.
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because the defamation cause of action serves to to protect reputation, an essential element of the tort is that ______.
The defamation cause of action serves to protect reputation, an essential element of the tort is that the alleged defamatory statement must be "of and concerning" the plaintiff.
Give an example of a defamation tortThe overview of libel torts and claims is given in the paragraphs that follow. Any speech that damages someone's reputation is referred to as "defamation," also known as character assassination. Libel is the term for defamation that occurs when a remark is put in writing and then published.
Explain the distinction between defamation and libel.Libel generally refers to speech from broadcast media that is a part of a script. False claims that someone committed a specific crime or participated in specific sexual behaviors are examples of defamatory remarks. Reputational injury is a characteristic of a defamation claim.
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Please answer the question...
Part A) The computation of the overhead rates using the activity-based costing approach is as follows:
Machine hours = $70 per machine hourSetup hours = $190 per setup hour.Part B) The determination of the difference in allocation between activity-based costing and traditional costing approaches is as follows:
Standard Custom
Traditional $95,300 $190,600
Activity-based $122,100 $163,800
Difference -$26,800 $26,800
What is activity-based costing?The activity-based costing approach identifies the cost pools that consume costs based on their activity levels.
It is the opposite of the traditional costing approach, which uses a plantwide predetermined overhead rate.
Cost Allocation:Machining activity cost pool = $189,000
Machine setup activity cost pool = $96,900
Total overhead costs = $285,900
Standard Custom Total Overhead Rates
Direct labor costs $50,000 $100,000 $150,000
Machine hours 1,500 1,200 2,700 $70 ($189,000/2,700)
Setup hours 90 420 510 $190 ($96,900/510)
Traditional Costing:Predetermined overhead rate = $1.906 ($285,900/$150,000)
Allocation of Overhead Cost:Standard Custom Total
Traditional $95,300 $190,600 $285,900
($1.906 x $50,000) ($1.906 x $100,000)
Activity-based:
Machine hours $105,000 $84,000 $189,000
($70 x 1,500) ($70 x 1,200)
Setup hours $17,100 $79,800 $96,900
($190 x 90) ($190 x 420)
Total costs $122,100 $163,800 $285,900
The difference in Overhead Allocation:
Standard Custom
Traditional $95,300 $190,600
Activity-based $122,100 $163,800
Difference -$26,800 $26,800
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In which of the following situations can a firm providing goods and services gain a competitive advantage?
Their offerings are of similar quality to competitors' offerings but can be sold at lower prices due to lower costs can a firm providing goods and services gain a competitive advantage. In this case, Option A is correct.
According to Christensen and Fahey (1984), Kay (1994), and Porter (1980), all cited by Chacarbaghi and Lynch (1999, p. 45), competitive advantage refers to the capacity to perform at a higher level than rivals in the same industry or market.Barney (1991), cited by Clulow et al. (2003) on page 221, said that a company has a competitive advantage when it is implementing a value-creating strategy that is not being done at the same time by any other players, current or potential.Due to current concerns about businesses' superior performance levels in the market's fierce competition, the study of this advantage has attracted a great deal of research interest.To know more about competitive advantage here
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In which of the following situations can a firm providing goods and services gain a competitive advantage?
Their offerings are of similar quality to competitors' offerings but can be sold at lower prices due to lower costs Reduce costs.Raise barriers to market entrants.Establish high switching costs.multiple select question select all that apply which of the following us firms manipulated and misstated their accounts to the tune of billions of dollars? (select all that apply.) multiple select question. parmalat global communications qwest communications healthsouth
Parmalat, Global Dispatches, Qwest Dispatches, and HealthSouth are all example of US enterprises that were set up to have manipulated and misinterpreted their accounts to the tune of billions of bones so all the option are correct .
Parmalat, a global dairy company, was set up to have falsified its accounts to the tune of billions in 2003. Global Dispatches was set up to have exaggerated its means by over$ 1 billion in 2002, leading to its ruin. Qwest Dispatches was set up to have exaggerated its earnings by about$ 3 billion in 2002, leading to a significant reduction in its stock value. Eventually,
HealthSouth was set up to have misinterpreted its earnings by over$2.7 billion between 1999 and 2002. All of these companies had to pay millions of bones in forfeitures and penalties, as well as facing felonious charges. In all cases, the misstatements and manipulation of the accounts had a significant impact on the finances of the companies, as well as the lives of their shareholders.
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TRUE OR FALSE a trial balance is the listing of each active account and its corresponding debit or credit balance at a particular point in time.
A trial balance is the listing of each active account and its corresponding debit or credit balance at a particular point in time.
The statement is true
In a bookkeeping worksheet known as a trial balance, the balances of all ledgers are combined into totals for the debit and credit account columns that are equal. A company creates a trial balance on a regular basis, typically at the conclusion of each reporting period. A trial balance is generally created to check the mathematical accuracy of the entries made in a company's bookkeeping system.A trial balance is not a complete audit of the books; instead, it serves as a test of one of their fundamental components. Because it enables auditors to confirm that the bookkeeping system is free of mathematical errors before moving on to more complex audit procedures, a trial balance is frequently the first step in an audit process.To know more about trial balance here
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According to Mintzberg's findings, it was typical for managers to work ____ hours per week at a minimum. O 50 O 40 O 70 O 90
Mintzberg's findings revealed that managers often put in at least 50 hours each week. Mintzberg's findings were based on his observation of the day-to-day activities of managers.
What do you mean by Mintzberg's findings?
Mintzberg's findings were based on his observation of the day-to-day activities of managers. He concluded that managers perform ten distinct roles, which he grouped into three categories: interpersonal, informational and decisional. The interpersonal roles involve being a figurehead, leader, liaison and negotiator. The informational roles involve being a monitor, disseminator and spokesperson. The decisional roles involve being an entrepreneur, disturber, resource allocator and negotiator. Mintzberg argued that these roles, when combined, form the basis of an effective manager. His work has had a profound effect on management theory and practice, helping to shape our current understanding of the role of the manager.
So, The required answer is 50.
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4. Find an example of a print or Internet ad that includes images and text, and then answer the following questions about it. a. Describe the ad. (1-3 sentences. 1.0 points) b. What do you think this ad's marketing message is? (1-5 sentences. 2.0 points) TIP: Does it use a specific desire or fear, or does it try to show how the product is a need or how it solves a problem?
This is advertisement is related to Mc Donald. The two conditions are: McDonald's all day breakfast. It shows their breakfast items, with high-quality images. They use desire because they show their delicious looking food, and the customers are warning it.
What do you mean by the advertisement?An advertising, sometimes referred to as an advert or ad, is typically seen as a form of public discourse that supports a good, service, organization, or event.
Some people may view the phrase as going even further than that, encompassing any form of sponsored advertising intended to inform or persuade.
Reaching an audience is assured with advertisements. Advertisements can have a direct impact on company if they are made in an interesting way and are sufficiently expensive to reach your target audience.
Therefore, this is advertisement is related to Mc Donald. The two conditions are:
McDonald's all day breakfast. It shows their breakfast items, with high-quality images. They use desire because they show their delicious looking food, and the customers are warning it.To know more about the advertisement, visit:
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last year, barnard company incurred the following costs: direct materials $ 50,000 direct labor 20,000 manufacturing overhead 130,000 selling expense 40,000 administrative expense 36,000 barnard produced and sold 10,000 units at a price of $31 each. refer to the information for barnard company above. the total period expense is
Prime cost per unit is 7. The cost of direct labour plus the cost of raw materials makes up the prime cost calculation.
Total direct manufacturing expenses, including those for labour and raw materials, are referred to as prime costs. Prime costs do not include indirect expenses like manager salary, utilities, or delivery fees. Indirect expenses like allocated factory overhead are not accounted for in the prime costs. The prime cost category often excludes administrative expenditures. This implies that, in many firms, the vast majority of the costs incurred are not prime costs. Direct product costs, which include direct labour costs and direct material costs, are combined to form prime costs. Direct labour expenses and manufacturing overhead costs are two examples of the manufacturing costs that must be incurred in order to transform raw materials into finished goods. A prime cost amount is used for "the quantities of work whose extent is recognized, but whose specification has not yet been established," according to the statement. A excellent illustration would be the brand of windows and outside doors, which has not yet been chosen.
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Last year, Barnard Company incurred the following costs:
Direct materials $ 50,000
Direct labor 20,000
Manufacturing overhead 130,000
Selling expense 40,000
Administrative expense 36,000
Barnard produced and sold 10,000 units at a price of $31 each.
Refer to the information for Barnard Company above. Prime cost per unit is
12. If an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do?
A. Close their account.
B. Offer them a lower APR to lower payments
C. Send the account to collections
D. Increase the APR to 24% or higher and charge a late fee
They expect a credit card company to Send the account to collections they expect a credit card company to. Thus option C is correct.
What is a credit card?A sort of line of credit offered by banks seems to be a credit card, which enables users to borrow money up to a pre-approved available credit. Users can use it to transact in the purchasing of goods as well as services.
As this is because the late payment of anything will not appear on the credit card report. This was to make sure that the people will have a chance to pay.
As the late payment will not affect the credit score. There will be someone who will be present for the collection of the payment. Therefore, option C is the correct option.
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b. state a business rule that would make the located in relationship redundant (i.e., where the school in which a club is located can be surmised or derived in some way from other relationships).
The business rule would be that all clubs must be associated with a school, and that the school must be in the same geographic area as the club.
What is the purpose of the Located In relationship between clubs and schools?The Located In relationship between clubs and schools is a way of connecting school communities with outside organizations that share similar goals. This relationship allows students to gain access to resources outside of their school and can help them develop important skills and knowledge. For example, a school-run club may be able to access the school's library or use the school's computers and other resources, while a club run by an outside organization may be able to offer specialized instruction or workshops. This relationship can also help build connections between the school and the outside organization, allowing for more collaboration and partnerships. By connecting clubs and schools, students have the opportunity to gain valuable experiences and resources that may not be available within the school itself.To learn more about business rule refer to:
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Refer to the accompanying figure. If the market for doughnuts is perfectly competitive, and the price of a doughnut is 10 cents, then this firm:Multiple Choice O should shut down. O should produce 50 doughnuts. O should shut down in the long run. O will earn an economic loss.
If the doughnut market is completely competitive and each doughnut costs 10 cents, this business should make 50 of them.
What do you mean by doughnuts ?
Doughnuts are a type of sweet, deep-fried dessert or snack food. They are usually made from a flour-based dough that is shaped into a ring or flattened sphere. The dough is then deep-fried in vegetable oil or other fat until it is golden-brown and cooked through. It is then usually glazed or topped with a variety of sweet toppings such as icing, sprinkles, or chocolate chips. Doughnuts have been around for centuries, though the modern doughnut is thought to have originated in North America in the early 19th century. They are now popular all around the world and come in a variety of shapes and sizes. Doughnuts can be served as dessert, a snack, or even as a breakfast food.
So, The required answer is that firm should produce 50 doughnuts.
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1. The recruiting process includes
a. résumés and interviews
b. promotions and dismissals
c. mentors and protégés
d. seminars and workshops
The recruiting process includes: a. résumés and interviews
What is recruitment process?Recruitment process can be defined as the process which an applicant must pass through before been employed to work for company and this process is often conducted by an hiring manager.
Recruiting process tend to includes résumés and interviews based on the fact that an applicant need to send out his/her resume before been invited for an interview.
Therefore we can conclude that the correct option is A.
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Select 3 goals or objectives that a leadership plan might include to achieve a solid business strategy.
O Buying power
O Attracting new customers
O Increasing sales
O Supply chain power
O Decreasing costs
The idea is that in order for a firm to maintain a sustainable competitive advantage, it must control a set of exploitable resources with four critical characteristics.
These resources must be (1) valuable, (2) scarce, (3) imperfectly imitable (difficult to imitate), and (4) non-replaceable. Michael Porter, a well-known Harvard Business School professor, identified three competitive sustainable advantage strategies: cost leadership, differentiation, and focus (which includes both Cost Focus and Differentiation resources). According to the value chain model, the firm is viewed as a series or chain of basic activities that add a margin of value to the firm's products or services. These activities are classified as either primary or secondary activities.
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with each payment of interest on bonds, the book value of the bonds will blank if sold at a discount and blank if sold at a premium. multiple choice question.
The book value of a bonds will "grow" if sold at such a discount and "drop" if sold at a premium with each bond interest payment.
Define the effect of interest payment on bonds?The possibility that a change in the general interest rate will lower the value of a bond or even other fixed-rate investment is known as interest rate risk.Bond prices decrease as the interest rates rise and vice versa. In order to balance the more enticing rates offered by new bond offerings, the current price of bond yields declines.The length of a fixed income security serves as a proxy for interest rate risk, with longer-term bonds being more sensitive to fluctuations in interest rates in terms of price.Bond maturities can be diversified to lower interest rate risk, or interest rate derivatives can be used as a hedge.Thus, the book value of a bonds will "grow" if sold at such a discount and "drop" if sold at a premium with each bond interest payment.
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the complete question is-
With each payment of interest on bonds, the book value of the bonds will ______ if sold at a discount and ______ if sold at a premium.
A survey of professional economists revealed that more than three-fourths of them agreed with a number of statements. Which of the following statement is NOT one of those propositions?
A. A ceiling on rents reduces the quantity and quality of housing available.
B. Fiscal policy has a significant stimulative impact on a less than fully employed economy.
C. Flexible and floating exchange rates are not an effective international monetary arrangement.
D. Tariffs and import quotas usually reduce general economic welfare.
Flexible and floating exchange rates are not an effective international monetary arrangement is not one of those propositions.
Financially speaking, monetary refers to money, particularly the overall financial situation of a nation. Some nations tighten monetary policy to stave against inflation. Inflationary and deflationary monetary policies are the two types. A contractionary type of monetary policy is one that is undertaken with the intention of limiting the flow of money throughout the economy. having material value is a quality. Alternatives for "the shifting monetary worth of gold and silver" If an item or service were to be sold to a third party, its monetary worth is the sum that would be given in cash in exchange. When one institutional unit makes a payment or incurs an obligation expressed in units of currency, such transaction is referred to as a monetary one.
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2) Consider the supply chain involved when a customer orders a book from Amazon. Identify the push/pull boundary and two processes each in the push and pull phases.
Two processes in push phase are forecasting and inventory management, while that in pull phase are order management and last mile delivery.
Order management and last mile delivery are two processes involved in the pull strategy. Forecasting and inventory management are two processes involved in the push strategy. The push/pull boundary refers to the interface between the push and pull stages of the supply chain. The boundaries differ from one company to the next based on their supply chain strategies.
In Amazon's case, they outsource inventory management because 3rd Party sellers account for more than half of Amazon's sales, and they insource logistics to have direct control over when orders are delivered to customers. Their delivery options are a strategic differentiator and a key success factor.
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the firms create value through production-transforming less valuable inputs into more valuable outputs-and also through:
The primary method used by businesses to produce value is production, which involves turning less valuable inputs into more valuable outputs. Additionally, businesses can...
What are ghost businesses?
Producing more valuable outputs out of less valuable inputs is the primary way that businesses add value. In addition, businesses can... The employment of so-called "ghost companies" by other businesses and their managers for deceit, to conceal some transactions, and for tax fraud. "Ghost firms" give products with fictional origins, those created covertly, or products that don't exist at all, a legitimate origin.
One that targets a specific market or offers a good or service in a novel method is considered a unique business venture.
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i should like to state to you the effect that this projection of government in business would have upon our system of self government and our econmic system. that effect would reach to the dail life of every man and women it would impair the very basis of liberty and freedom not only for those left outside the fold of expanded
The correct response is B. It would impair the very basis of liberty and freedom. D. every alley of which leads to the destruction of self-government.
To break down, disassemble, or kill something is to destroy it. A bomb's impact on a target is an illustration of destruction. Countless fatalities from a disease with a high infection rate are an illustration of destruction. In order to regain order, a company must go through chaos. To experience growth, a person must face opposition. Being able to stop something from being destroyed gives us a sense of strength and can elicit other emotions, including wonder. Humans have a fundamental desire to feel in control, and according to one hypothesis, purposefully destroying objects can be extremely gratifying because it gives us that feeling. Information must be rendered unrecoverable by the means of destruction.
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Responses to the Great Depression Quick Check- Quick Check (1-4)
1. Read the excerpt from Herbert Hoover's "Rugged Individualism" speech, delivered on October 22, 1928.
Choose the two highlighted examples that best emphasize why Hoover supported a limited federal response to the onset of the Great Depression. (1 point)
I should like to state to you the effect that this projection of government in business would have upon our system of self-government and our economic system. That
A. effect would reach to the daily life of every man and woman_.
B. It would impair the very basis of liberty and freedom_ not only for those left outside the fold of expanded bureaucracy but for those embraced within it.
Let us first see the effect upon self-government. When the C. Federal Government undertakes to go into commercial business, it must at once set up the organization and administration of that business, and it immediately finds itself in a labyrinth, D. every alley of which leads to the destruction of self-government.
assume you are the president of high power corporation. at the end of the first year of operations (december 31), the following financial data for the company are available:
1. Prepare an income statement for the year ended December 31.
High Power Corporations
Income Statement
2. Prepare a statement of retained earnings for the year ended December 31.
High Power Corporations Statement of retained earnings
Retained earnings, January 1
Retained Earnings, December 31
3. Prepare a balance sheet at December 31
Based on the given data, the following financial data of High Power Corporation are:
Income statement:
Sales revenues $99,600
Operating expenses $59,800
Other expenses $7,990
Total expenses $67.790
Net income $31,810
Retained earnings Statements
Retained earnings, January 1 $0
Plus: Net Income $31,810
Less: Dividend $2,090
Retained earnings, December 31 $29,720
Balance sheet at December 31
Cash $14,700
Accounts Receivable $11,650
Equipment $93,000
Supplies $6,400
Total assets $125,750
Accounts payable $33,500
Notes payable $2,040
Total liabilities $35,540
Common stock $60,490
Retained earnings $29,720
Total equity $90,210
Total liabilities and equity $125,750
When preparing an income statement, we need to include these following accounts:
Sales revenueOperating expensesother expensesWe need to find the net income we earned from the sales activity deducted with the total expenses.
To prepare a retained earning statement, we assume that the initial retained earnings at January 1 is $0. The initial retained earnings would be added with net income and less by dividends to find the final retained earnings.
To prepare a balance sheet for December 31, we need to categories each accounts based on their categories, such as total assets, total liabilities, and total equity. Total assets should be equals to total liabilities and equities.
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Complete Question:
Assume that you are the president of High Power Corporation. At the end of the first year of operations (December 31), the following financial data for the company are available:
(Please refer to the table attached below)
Prepare an income statement for the year ended December 31.Prepare a statement of retained earnings for the year ended December 31.Prepare a balance sheet at December 31A plaintiff sued a defendant in federal court for injuries arising out of an accident involving the parties. The plaintiff alleged and presented evidence at trial demonstrating that her injuries had left her legs permanently paralyzed. The jury found in favor of the plaintiff and awarded her $5 million in damages. Two months after the court entered judgment, the defendant was given a videotape made that day showing the plaintiff jogging with her doctor. What is the best way for the defendant to seek relief from the judgment?
Move for relief from the judgment on the ground that the plaintiff committed a fraud in obtaining damages for permanent injuries.
Which of the following grounds will the court let a plaintiff to dismiss their case and file a new one?The Court is only empowered to grant permission for such withdrawal with the freedom to institute a new suit on the same if it is convinced that a suit must fail due to some formal defect or that there are other sufficient grounds for allowing the plaintiff to institute a new suit or part of a claim.According to Rule 41(1)(a), a plaintiff, such as the respondent in this case, may withdraw the actions at any moment before the issue has been set down without the approval of the other parties or the Court.The complete question is
A plaintiff sued a defendant in federal court for injuries arising out of an accident involving the parties. The plaintiff alleged and presented evidence at trial demonstrating that her injuries had left her legs permanently paralyzed. The jury found in favor of the plaintiff and awarded her $5 million in damages. Two months after the court entered judgment, the defendant was given a videotape made that day showing the plaintiff jogging with her doctor. What is the best way for the defendant to seek relief from the judgment?
A: Move for a new trial or in the alternative for remittitur to reduce the award in light of the shortened duration of the plaintiff's injuries.
B: Move for relief from the judgment on the ground that the judgment was based on the jury's mistaken belief that the plaintiff's injuries would be permanent.
C: Move for relief from the judgment on the ground that the plaintiff committed a fraud in obtaining damages for permanent injuries.
D: Move for relief from the judgment on the ground that there is newly discovered evidence that the plaintiff's injuries were not permanent.
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match each definition to the term or concept related to credit cards that it describes. the fee you pay for a cash advance if you are able to pay, as a christian, you are bound to do so. the payment you made minus the balance you owed yearly membership cost people who borrow money are controlled by those who lend it. yearly cost of credit avoid extra charges by paying your bill on time. carries a higher annual fee than a normal credit card the money you owe from the last billing period
Cash advance fee - This is a fee that is charged when you withdraw cash using your credit card. The fee is typically a percentage of the amount withdrawn, and it is in addition to the interest charges you will incur on the cash advance.
Christian doctrine of paying debts - This refers to the belief held by some Christians that it is a moral duty to pay one's debts in a timely manner. This principle is based on passages in the Bible that instruct followers to be honest and responsible with their financial obligations.Annual fee - This is a fee that is charged by the credit card issuer to use the card. This fee can be charged on a yearly basis and it's usually a fixed amount. It can be waived if the cardholder meets certain criteria such as minimum spending or maintaining a good credit score. Usury - This refers to the practice of lending money at an exorbitant or unlawfully high rate of interest. It is considered unethical and is often illegal. Interest rate - This is the percentage of the balance that is charged as a fee for borrowing money. The interest rate will vary depending on the credit card issuer and the cardholder's creditworthiness. Payment due date - This is the date by which the credit card bill must be paid. If the bill is not paid by this date, late fees may be charged, and interest will continue to accrue on the outstanding balance. Premium credit card - This is a type of credit card that carries a higher annual fee than a normal credit card, but also offers additional perks and benefits such as travel rewards, concierge services, or exclusive access to events.
Balance carried forward - This is the money you owe from the last billing period. It's the amount of money you carried over from the last month's statement to the current month. It will accrue interest if not paid on time.
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Part of the criteria to achieve the socially efficient production level is for firms to only produce units of output that
a) have higher prices than the benefits of using the productive resources.
b) have more quantity demanded than quantity supplied.
c) give more of the market surplus to producers than to consumers.
d) are more highly valued by consumers than the associated productive costs.
Part of the criteria to achieve the socially efficient production level is for firms to only produce units of output that are more highly valued by consumers than the associated productive costs.
What are Economies of Scale?The advantage comes from the inverse relationship between the quantity produced and the fixed cost per unit. Higher output volumes are linked to lower fixed costs per unit.
Another result of economies of scale that occurs in tandem with an increase in output is a reduction in average variable costs (average non-fixed costs). Operational efficiency and the synergies that cause it are increased with an increase in production size.
At any point during the production process, a business may benefit from economies of scale. Production in this context refers to the economic concept of production and includes all actions involving the good, excluding those that have an impact on the final consumer.
As a result, a business may decide to hire a sizable number of marketing specialists in order to implement economies of scale in its marketing division. A business can employ the same strategy in its input sourcing division by switching from human work to machine labour.
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marco has an investment that is traded in two different markets, front market and side market. marco has equal access to each market. in order to determine the fair value of its investment, marco has obtained the following per share information for the securities as of the close of business december 31, the end of its fiscal year:
Front Market--Side Market
Selling Price--$52/sh--$50/sh
Transaction Cost---$6/sh--$1/sh
If Front market is the principal market for the security for Marco, using the market approach, which one of the following would be the per share amount used for measuring the investment at fair value?
$52/sh
$50/sh
$49/sh
$46/sh
The price at which Marco might sell the investment in Front market, or $52/sh, would serve as fair value because it is the major market. The accompanying direct transaction cost would not be factored into the market selling price.
When a buyer and a seller voluntarily agree on a price for an item, fair value is the anticipated price at which the item will be purchased or sold.
The fair value of an asset can be determined by comparing its present market value, potential for future growth, and replacement cost.
While fair value is a means of determining an asset's worth, market value is the price at which a product is offered for sale on the open market.
Finding the current market worth of a company's assets and liabilities is a requirement of fair value accounting.
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