Physical inventory is taken as part of a periodic inventory system at the conclusion of each month. The right response in this case is option D.
The periodic inventory system involves routine inventory updates. Inventory is recorded in the purchase account under the periodic inventory system up until the physical count is performed, at which point it is moved to the inventory account.
The periodic inventory method has the benefit of eliminating the requirement for separate accounting for inventories of raw materials, work-in-progress, and finished items. The only thing that is noted is purchases.
Physical counts are used in periodic inventory systems to measure inventory levels. After every sale or buy, the perpetual approach updates inventory records continually while keeping track of the inventory balance.
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huggins corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. the working capital is:
The working capital for Huggins corp. with current assets of $193,000 and current liabilities of $137,000 will be 56000.
Give a brief account on working capital.Working capital (WC) is a financial metric that measures the operating liquidity that a company, organization, or other body, including a government institution, has available to it. Working capital is included in operational capital together with fixed assets like machinery and equipment. Current assets and gross working capital are equivalent. Current liabilities less Current Assets equals Working Capital. A company has a working capital deficiency (also known as a working capital deficit or negative working capital) if its current assets are fewer than its current liabilities.
Even though a business may be profitable and endowed with assets, it may lack liquidity if its assets cannot be quickly converted into cash. A company must have positive working capital in order to continue operating and have enough money set aside to pay off maturing short-term debt as well as upcoming operational expenses. Inventory, accounts receivable and payable, and cash management are all a part of working capital management.
To solve the question :
Working capital = current assets - current liabilities
= $193,000 - $137,000
= 56000.
Therefore, working capital is 56000.
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he cash account in the company's ledger is a(n) a.asset with a normal credit balance b.liability with a normal credit balance c.liability with a normal debit balance d.asset with a normal debit balance
The cash account in the company's ledger is a(n) liability with a normal debit balance.
A debit balance is a negative cash balance in a bank checking account. Such an account is said to be overdrawn, and thus cannot have a negative balance - the bank simply refuses to honor any checks presented against it that would result in a debit balance.
A debit balance to a personal account is an asset, so the more debit balances to personal accounts there are, the more assets there are in the form of outstanding recoverable.
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The difference between the maximum price consumers are willing and able to pay for a good or a service and the price they actually pay is the consumer.
Consumer surplus is the difference between the highest price a consumer is willing to pay and the actual price they do pay for the good, or the market price.
What does the price on the market suggest?The market price is the price at which a good or service is currently being bought or sold. The dynamics of supply and demand have an impact on a good or service's market pricing. The cost at which the quantity supplied and the amount wanted are equal is known as the market price.
Who decides on market prices?The factors of supply and demand are very important in determining the value of stocks. Demand refers to the quantity of shares people want to purchase, whereas supply refers to the quantity of shares people want to sell.
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when people make decisions by choosing to do the things they think will give them the most utility, economists call this method of decision-making
Economists refer to the decision-making process in which people choose the actions they believe would provide them with the most utility as utility maximization.
The work that economists do
The distribution and production of resources, goods, or services are studied by economists through data collection and analysis, trend research, and evaluation of economic concerns.
Do economists get substantial salaries?
Yes, most economists do earn lots of money.
Although there are several jobs with varied pay scales, most economists earn at least $100,000 annually. Economic analysis is used to address a variety of challenges by economists who research the distribution and production of resources, commodities, and services.
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a what is a retail department store that sells at prices 25 percent or more below traditional department store prices in no frills environments, but does not sell memberships.
Off-Price Retailers is a retail department store that sells at prices 25 percent or more below traditional department store prices in no frills environments, but does not sell memberships.
What are Off-Price Retailers?
Retailers who offer premium products at discount prices are known as off-price retailers. They typically market used stuff, off-season merchandise, etc.
These stores provide a sporadic selection of cheap soft goods from well-known brands and fashion-forward manufacturers. They purchase end-of-season closeout merchandise, end-of-season manufacturer irregulars, seconds, closeouts, canceled orders, overruns, and overruns.
Delivering a quality product selection at the most competitive price on the market is the off price retailer's customer value proposition. The first thing that will draw buyers is a low pricing.
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an appropriate fiscal policy for a severe recession is: group of answer choices an increase in interest rates. appreciation of the dollar. a decrease in government spending. a decrease in tax rates.
An appropriate fiscal policy for a severe recession is a decrease in tax.
Fiscal policy refers to the use of either taxes or public spending to balance the budget. Using either lower taxes or more expenditure, expansionary fiscal policy may cover recessionary gaps, and contractionary fiscal policy can close inflationary gaps (using either increased taxes or decreased spending).
Fighting against a severe recession will be appropriate for the expansionary fiscal policy. When the GDP declines by more than 10 percent from the base year, it is said to be in a severe recession. In order to remedy this situation, the government employs an expansionary fiscal policy to boost GDP.
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an applicant for accident and health insurance works two jobs. which of the applicant's jobs will be used to underwrite the policy?
A candidate for accident and health insurance holds positions with two distinct companies. The insurance policy will be underwritten using the riskier of the two.
What is meant by the phrase "underwrite risk"?The risk of underwriting is the chance that an insurance policy may be written with unanticipated events or a wrong risk estimate. If the insurer underestimates the risks connected with providing coverage, it can end up having to pay out more than it receives in premiums.
What exactly does an underwritten health insurance plan entail?a technique used by insurance companies to evaluate your health status when you apply for health insurance coverage in order to determine whether to approve your application, how much your coverage will cost, and what exclusions or limits it will have.
What advantages does underwriting in health insurance offer?Underwriting, which involves your insurance provider assessing your eligibility for coverage based on the information you provide and the information it collects to assess the risk of extending you a policy, is a crucial step in the insurance application process.
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taylor construction equipment inc. is concerned with the possibility of high transportation costs and the threat of tariff barriers when entering into a foreign market. based on this, which entry mode should the construction equipment company avoid?
Taylor construction equipment inc. is concerned with the possibility of high transportation costs and the threat of tariff barriers when entering into a foreign market. Based on this, the entry mode that the construction equipment company should avoid are:
franchisingturnkey contractsexportinglicensingjoint venturesWhat are tariff barriers?The popular barrier to trade is a tariff–a tax on imports. Tariffs increase the price of imported goods in relation to domestic goods. Another popular barrier to trade is a government subsidy to a particular domestic industry. Subsidies make those goods less costly to produce than in foreign markets.
Therefore, the correct answer is as given above
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kent clark is an optometrist and has four assistants working for him. dr. clark is considering purchasing a new piece of equipment that will allow him to more accurately measure the vision needs of his patients. what decision-making strategy should he use?
Kent Clark should use Autocratic 1 decision-making strategy.
Since Kent Clerk has enough information with him, it's better to for him to take decision alone.
What is decision-making strategy?
In psychology, decision-making—also written decision-making—is defined as the cognitive process that leads to the choice of a belief or a plan of action from among a number of potential alternative possibilities. It could be both unreasonable and rational. The process of creating decisions is a form of reasoning that is predicated on the decision-values, maker's preferences, and beliefs. A decision is made at the end of every decision-making process, and that decision may or may not lead to action.
Particularly in European psychology research, research on decision-making is also published under the heading of issue solving.
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kent clark is an optometrist and has four assistants working for him. dr. clark is considering purchasing a new piece of equipment that will allow him to more accurately measure the vision needs of his patients. what decision-making strategy should he use?
when comparing two mutually exclusive projects of equal life, the capital budgeting evaluation technique that always identifies the best project is:
For initiatives that are mutually incompatible, the project with the greater IRR should be chosen.
What is a mutually exclusive Project?
It is argued that capital projects that compete with one another are mutually exclusive. If management must decide specifically between finishing either project X or Y, and not both of them at once, then the two projects are said to be mutually exclusive. The choice to export to another nation may be viewed as an autonomous endeavor.
This chance should be taken if it has a positive NPV. On the other side, initiatives that are mutually exclusive are not eligible for selection. In other words, the others are immediately dismissed if one is chosen. It is argued that capital projects that compete with one another are mutually exclusive. They are mutually exclusive when they cannot take place at the same time. mutually beneficial gatherings. When two events may take place at the same time, they are mutually inclusive.
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rina and musashi are married, under the age of 65, and have three children under the age of 18. musashi works full time and earns $18,000, while rina works part time and earns $9,000. thus, in total, their family income is $27,000. are musashi and rina living in poverty?
Since their income is $27,000 and the poverty line for a family of six is $31670, they do indeed live in poverty. Because her income is below the $27,853 level for a household of five,
Poverty:Poverty is a state of being severely impoverished, to put it simply or in layman's words. The level of revenue from job is so low that it does not cover the necessities of life. Political, economic, and social factors all contribute to poverty.
What does "household income" mean to you?An economic benchmark known as household income can be used to compare the financial well-being of one household with that of the entire county, city, or nation.
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Everything else held constant, when the federal funds rate is ________ the interest rate paid on reserves, the quantity of reserves demanded rises when the federal funds rate ________.
Everything else held constant, when the federal funds rate is above the interest rate paid on reserves, the quantity of reserves demanded rises when the federal funds rate falls.
What is the federal funds rate?The target interest rate established by the FOMC is known as the federal funds rate. This is the overnight lending and borrowing rate between commercial banks for their excess reserves. Short-term interest rates on credit cards and consumer loans can be impacted by the federal funds rate.
What are the reserve interest rates?The interest rate paid by the Federal Reserve on balances kept in master accounts at Federal Reserve Banks by or on behalf of qualifying institutions is known as the interest rate on reserve balances (IORB rate). An essential tool of monetary policy, the interest rate is established by the Board of Governors.
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stacey, a salesperson for xyz co. has just heard her prospect make a red light statement. this means:
This indicates that she must address a further objection.
What Is a Sales Lead?Leads in sales (suspects) organizations or people who could be interested in the good or service a salesperson has to offer. Sorting out sales leads. The act of a salesperson looking for, gathering, and analyzing data to ascertain whether a lead has a good chance of becoming a customer.
What does a sales lead look like?In contrast to calling a name out of the phone book, calling someone who has previously visited the company showroom and provided contact information is more likely to result in a sale.
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steve jobs defined and shaped apple's culture, and his influence continued even after he left the company. this is known as .
The corporate culture of the company is centered on upholding a high degree of innovation that involves employees' imagination and a mindset that questions norms and standards, such as in the field of consumer electronics design.
Who is Apple's intended market?The middle-class and upper-class consumers who can afford to pay more for items that offer them a fantastic user experience make up Apple's target market.
What kind of management philosophy does Apple follow?The following components are integrated into Apple's leadership style: Democratic-style management. The current CEO, Tim Cook, emphasizes democratic leadership in contrast to the more autocratic leadership style of Apple co-founder and late CEO Steve Jobs.
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mcdonald's uses detailed standard operating procedures throughout the world to ensure product quality. this implies that mcdonald's has a high degree of:
Because it provides excellent customer service and employs effective marketing strategies, McDonald's products and services are in high demand.
What are McDonald's Values:McDonald's had remarkable success as it rose to the top of the fast food sector because of its dedication to providing excellent customer service. It responds to competition provides the greatest customer service and uses efficient marketing strategies, which leads to growth. McDonald's invests heavily in advertising and the franchising model as part of their major business plan, which brings them huge profits and helps them establish their brand name. It provides quick service, a clean atmosphere, and higher-quality items, which aids in client retention.
Fresh and top-quality ingredients are used. During the whole production process, there was stringent temperature and timing control. adherence to microbiological requirements. All employees are well trained, and there is an efficient Critical Control point ( haccp and Critical Control Point (HACCP) plan and Good Manufacturing Practice (GMP) in place.
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_____ is the process of creating and managing a business to achieve desired objectives.
It can be inferred that Entrepreneurship is the process of creating and managing a business to achieve desired objectives.
What is Entrepreneurship?The process of developing or extracting economic value is referred to as entrepreneurship. Entrepreneurs are another term for business owners. According to this definition, entrepreneurship is defined as change, often including risk above what is commonly faced when beginning a firm, and may contain values other than monetary ones.
In the field of economics, the term entrepreneur is used for an entity that has the ability to translate inventions or technologies into products and services. In this sense, entrepreneurship describes the activities of both established businesses and new businesses.
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when a single firm can supply the entire market at a lower cost than two or more firms, the firm can be said to have which of the following characteristics? it is one of two firms in the industry. it is a natural monopoly. the marginal cost curve rises at an increasing rate. it must be producing at the socially optimal level of output.
When a single firm can supply the entire market at a lower cost than two or more firms, it is a natural monopoly.
What causes a natural monopoly?A natural monopoly is a monopoly in an industry where high infrastructure costs and other entry obstacles in relation to the size of the market provide the largest supplier. It is possible for one firm to serve a given market more affordably than any combination of two or more firms in that market.
A natural monopoly has a high fixed cost for an output-independent good, but its marginal cost of producing one additional good is relatively low and constant. The widespread consensus is that natural monopolies arise for two reasons: economies of scale and economies of scale
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better products company recently issued its employees identification tags that contain a chip that records how long individual workers spend at their workstations and how many times they visit the restroom. which function might this technology serve
Based on the business technology and the situation described here, the function this technology might serve is "Reducing company time wasted by employees."
What is Business TechnologyBusiness technology is a term that is used to describe the trans-disciplinary process and activities in business firms or workplaces, which helps to optimize production by lowering cost and time while increasing output.
In this case, given that the identification tags that contain a chip that records how long individual workers spend at their workstations and how many times they visit the restroom will be given to employees, this is expected to reduce the time wasted by employees.
Other types of business technology examples are:Computer systemsProductivity toolsNetworking devices and printersMail and phone systemsFinancial accounting systemsInventory control systemsCustomer relationship management systemsDiversified marketing optionsHence, in this case, it is concluded that Business technology is a good system or device to have in any business firm or workplace.
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suppose that the gdp of oregon today is exactly twice what it was 22 years ago. what was the average annual growth for oregon over this time period?
Suppose that the gdp of Oregon today is twice that of 22 years ago. The average annual growth of the gdp is 3.2%
The problem can be solved using growth model:
P = Po (1 + r)ⁿ
Where:
P = quantity after n periods
n = number of periods
r = growth rate
Po = initial quantity
In this problem, the quantity if the gdp.
n = 22 years
P = 2Po
Hence,
2Po = Po (1 + r)²²
(1 + r)²² = 2
1 + r = 2^(1/22) = 1.032
r = 1.032 - 1 = 0.032 = 3.2%
Hence, the average annual growth of the gdp is 3.2%
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a defines how an organization will maintain what is accepted as normal day-to-day business in the event of a security incident or other events disruptive to the business.
A business organization, an organization established for the purpose of conducting trade business. Such organizations are based on legal systems governing contracts and exchanges, property rights, and incorporation.
A legal entity is a legal entity separate from the person who owns it. An additional legal barrier is created between you and your business entity that a sole proprietorship or general partnership cannot achieve. This is one reason why entrepreneurs are a common form of business organization.
Good organizations have clearly defined objectives and foster an attitude that objectives are more important than processes. This means managers are not just looking at whether employees are following procedures, but how effectively they are doing their jobs.
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Global Corporation had 44,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 5% stock dividend when the market value of each share was $29. The entry to record the dividend declaration is:
Debit Secured Earnings is written in the entry. $63,800; debit Dividend Declaration. Dividends on Common Stock in the amount of $44,000 are due; credit $19,800 in rewarded capital over exceed of par value for common stock.
What stock meaning?These certificates of corporate ownership are sometimes known as stocks. The share certificate of a particular corporation is referred to as a share, on the contrary hand. A shareholder is someone who owns stock in a certain company. The two categories of equities are common and preferred stocks.
What is a stock example?Ownership in a publicly traded company is represented by stocks. When you acquire a company's shares, you become a shareholder. A corporation might have 100,000 shares, for example, and if you buy 1,000 of those, you will still own 1% of the company.
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Divisions of the Fed known as _____ handle almost all the checks written against a bank in one city and presented for deposit to a bank in a second city.Multiple Choicebank holding companiesbank examinersFederal Reserve banksFederal Reserve accountscheck clearinghouses
Divisions of the Fed known as check clearinghouses handle almost all the checks written against a bank in one city and presented for deposit to a bank in a second city.
A deposit is a monetary term meaning money held at a bank. A deposit is a transaction concerning a switch of cash to any other birthday celebration for safekeeping. however, a deposit can discuss with a part of the money used as security or collateral for the shipping of a very good. A deposit is an amount of cash kept in a financial institution's account. the two styles of deposits are call-for deposits and time deposits. call for deposit money owed encompass checking debts, savings debts, and cash marketplace money owed.
Time deposit debts include certificate of deposit (CD) money owed and man or woman retirement accounts. The deposit is a legal responsibility owed via the bank to the depositor. Deposit technique means the frequency at which Deposits can be made via a Subscriber over the term of a settlement and is limited to unmarried, annual, semi-annual, quarterly, or month-to-month Deposits.
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_______________ have become increasingly important because of the decline of organic views AND because of the overall increase in the volume of content being published on social channels.
Enterprise Tactics
Paid Tactics
Owned Strategies
Top of Funnel Conversions
Earned Goals
Influencer Strategies
Paid Tactics is becoming increasingly important due to the decline in organic view counts and due to the overall increase in the volume of content published on social channels. Tactic is a way of organizing or strategy in achieving a goal. For example, tactics in war, campaign tactics.
All jobs or activities always require tactics to achieve targets. Tactics have the same meaning as plans. If something is arranged according to plan, it will most likely go smoothly. An example is building a business, so we have to prepare a plan, such as preparing business capital, employees, profit sharing, profit and loss.
However, it is possible that if we have made plans, our efforts will fail. all possibilities can happen at any time without us knowing.
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Examining how the organization looks to shareholders is part of which of the balanced scorecard perspectives?.
Part of the financial perspective of the balanced scorecard perspectives is examining how the organization appears to shareholders.
The term "financial perspective" means what?The organization's ultimate goals are described from a financial standpoint. By reading indicator data, this perspective enables you to ascertain whether your firm is effective in implementing its strategy.
What does the financial aspect of the balanced scorecard entail?A balanced scorecard is a tool that organizations can use to help with their strategic management. The balanced scorecard is built on four perspectives: financial, business process, customer, and organizational capabilities. It enables businesses to recognize their shortcomings and come up with strategies to address them.
Perspective from a financial standpoint: What Do Our Shareholders Think of Us? Financial performance indicators demonstrate whether a company's strategy, implementation, and execution are enhancing its bottom line. Growth, profitability, and shareholder value are typical financial goals.
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one reason organizations create teams is to . a. assert control over employees' actions b. relieve workers of decision-making responsibility c. strengthen the role of managers as supervisors d. limit flexibility e. capitalize on the knowledge and motivation of workers
One reason an organizations create teams is to capitalize on the knowledge and motivation of workers. The Option E is correct.
What is the importance of team in an organization?In a typical organization, a team means group of people who perform an interdependent tasks to work toward accomplishing a common mission or specific objective. Some organization teams have a limited life. For example, if a design team is developing a new product or a continuous process improvement team organized to solve a particular problem.
When a team work together, this is known as teamwork. The term "teamwork" is used across many different industries to increase a performance, employee unity and company culture. The companies that must frequently develop new ideas or products using a project-based approach assemble teams in order to diffuse responsibility and to increase the number and diversity of ideas for the project.
The team members must use a teamwork to bounce ideas off of one another before deciding on a development path for a project.
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a. if sales for the current year were $695,000 and accounts receivable decreased by $43,500 during the year, what was the amount of cash received from customers?
The amount of cash received from customers
Net income = sales - expenses
sales =6,95000
expenses (cost) = 43,500
net income = $695000- $43,500 =$6,51,500.
The revenues and expenses should be recognized during the period they occur. In this case, the sales are for 115,000 regardless of the amount collected during the period or subsequent periods.The expenses for the period are 71,500 Even if a portion remains unpaid at the end of the year, all the expenses for the year should be included in the calculation.Use of net cash of $135,000Why: Cashflow from Investment Activities Section acquisition of equipment (146,000) 127,000 dollars were made when equipment was sold.acquisition of land (16,000).Investing activity's net cash (135,000).Consequently, for the year, net cash flows from investing operations were ($135,000).
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During the meeting, kristof asked, "where is the product typically bought by customers in the international market segments?" what element of the marketing mix is he addressing?.
Where is the product normally purchased by customers in the overseas market segments?, Kristof queried at the discussion. He talks about how important distribution strategy is to the marketing mix.
In the marketing mix, what is the distribution channel?The final consumer purchases a commodity or service through a distribution channel, which is a network of firms or middlemen. Wholesalers, merchants, distributors, and the Internet are a few examples of distribution channels. To sell directly to customers, manufacturers use a direct distribution channel.
What impact does the marketing mix have on distribution?In essence, the distribution process or channel would not be possible without the marketing channel. The entire chain of businesses involved in creating and transporting products up until the final consumer is included in the distribution channel. The marketing channel refers to the marketing strategy each business uses within this strategy.
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straight-line depreciation does not: multiple choice none of the answer choices are correct. let the cost remain the same have a book value use residual to calculate yearly depreciation accelerate depreciation
The straight-line depreciation does not accelerate depreciation. The Option D is correct.
What is a straight-line depreciation?Also called a straight line basis, is a method of calculating depreciation which is the simplest way to work out the loss of value of an asset over time.
A straight line basis for depreciation is calculated by dividing the difference between an asset's cost and its expected salvage value by the number of years it is expected to be used. In conclusion, this method is popular because it is easy to calculate and understand, although it also has several drawbacks.
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when a buyer makes a down payment in the year of sale and then agrees to pay the remainder of the sale proceeds over a period of time, the arrangement is referred to as a(n)
When a buyer makes a down payment in the year of sale and then agrees to pay the remainder of the sale proceeds over a period of time is referred as Trade Credit.
What is Trade Credit?
Trade credit is an arrangement in which a customer can purchase goods without paying cash up front, and paying a supplier at a later scheduled date.
Trade credit can be thought of as a type of 0% financing, increasing a company's assets while deferring payment for a specified value of goods and services to some time in the future and requiring no interest to be paid in relation to the repayment period.
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brooklyn files as a head of household for 2022. they claimed the standard deduction of $19,400 for regular tax purposes. their regular taxable income was $80,000. what is brooklyn's amti?
Their regular taxable income was $80,000. The brooklyn's amti is $60600.
Regular taxable income = 80000
Standard deduction = 19400
AMTI = 80000 - 19400 = 60600
The term “income” commonly refers to the amount of money, assets, and other transfers of price obtained over a hard and fast time frame in alternate for products or services. there may be no single, general definition: income is defined consistent with the context in which the concept is used.
Income, at its maximum primary stage, may be categorized as the cash that an individual earns. earnings can come from a variety of assets: wages, dividends, self-employment, etc. profits may be divided into main categories: taxable earnings and non-taxable earnings.
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