Answer:
May; cannot do anything
Explanation:
In the short run, the aggregate supply curve will react to price level, which means it is upward sloping rather than vertical. If the price level increases, quantity supplied will increase. If the price level decreases, the quantity supplied will decrease.
Answer:
Economists who view the AS curve as upward-sloping believe that changes on the demand side CAN result in changes in Real GDP in the short run. Economists who view the AS curve as vertical believe that government changes from the demand side CANNOT DO ANYTHING to raise Real GDP in the short run.
Explanation:
In the short run, the aggregate supply (AS) curve is upward sloping because most input prices are fixed in the short run. So a change in the aggregate demand will cause the AS curve to change in the short run. If the demand increases, the aggregate supply will increase, and vice versa.
On the long run, input prices are not fixed, so the AS curve is vertical and any changes in the aggregate demand will not affect it.
The team that is planning the annual company sales meeting has members in several offices. They need to have a conversation about the agenda for the sales meeting. Which of the following will they most likely use?a. e-mail. b. blog posts. c. a conference call. d. social networking.
Answer:
Option C. a conference call
Explanation.
A conference call is a telephone call in which more than two people have a conversation simultaneously. Conference calls enables large number of people to connect with each other through a conference bridge to have a conversation, which is most importantly a server that plays a role of a telephone and can answer and accommodate multiple calls simultaneously. In a conference call which is generally a telephone call in which someone talks to various people at the same time. Conference calls have different setups. It depends how a conference call setup is built to communicate with each other. Some of them are in which every person can participate and talk at the same time or the call may be setup so that the called participants can only listen and cannot speak. As in this case the team clearly wants a conversation on a specific agenda so conference call is the only best option for them.
Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc., even though he doesn't work for this firm. He also serves on the boards of several other companies. Landon is a(n) ________ for Anderssen and a(n) ________ for EEC.
Answer:
Executive Director, Non Executive Director
Explanation:
Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc., even though he doesn't work for this firm. He also serves on the boards of several other companies. Landon is an Executive Director for Anderssen and a Non Executive Director for EEC.
An executive director has operational responsibilities in a firm but a non executive director does not have operational responsibilities in a firm but is involved in planning and policy formation which are strategic activities.
Operational refers to the daily running of a business.
Questions:
Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc., even though he doesn't work for this firm. He also serves on the boards of several other companies. Landon is a(n) ________ for Anderssen and a(n) ________ for EEC.
A) COO, CEO
B) Inside Director , Outside Director
C) Outside Director, Inside Director
D) CEO, COO
Answer:
The correct answer is C) Landon is an Inside Director for Anderssen In. and an Outside Director for EEC Inc.
Explanation:
Landon is an outside director for EEC as he is not employed by that company.
However, he is an insider with Anderssen Inc.
Cheers!
Why is it important to use real rather than nominal gdp figures when making comparisons of output across time periods?
Answer:
The real GDP figures reflect changes in the quantity of output and not the changes in the general level of price.
Explanation:
The nominal GDP is the total values of all the goods and the services produced in a given time period and are expressed as usually in the quarterly and annually. The real is the nominal and os adjusted to the inflation and the real GDP measure the actual growth without destroying the effects form the inflation.Milo decides to invest $1,500 in a savings account every year at the beginning of the year for 10 years. Assuming an interest rate of 7%, how much will Milo have at the end of the 10th year
Answer:
$22,175.40
Explanation:
For this question, we use the Future value formula that is shown on the attachment below:
Provided that,
Present value = $0
Rate of interest = 7%
NPER = 10 years
PMT = $1,500
The formula is shown below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the future value is $22,175.40
Therefore, the amount at the end of the year is $22,175.40
James, the president of the trade union of his company, was removed from his post as the union members were discontented about the high-handedness he showed in leading the union. As president, James took important decisions without consulting anyone and acted on his whim. The information given in the scenario indicates that James is ideally a(n) _____.
Answer:
The options for this question are the following:
A. free-rein leader
B. laissez-faire leader
C. bureaucratic leader
D. autocratic leader
The correct answer is D. autocratic leader.
Explanation:
The autocratic leader is the one who assumes the responsibility in the decision making process, he is the one who initiates and directs the actions in addition to controlling the worker. Everything is focused on the leader, both the decisions and the responsibilities. The autocratic leader governs himself same, so that unlimited power is concentrated in the hands of a single person, the competent leader before the workers who must obey without expressing an opinion since they have no capacity to make decisions.
The autocratic leader considers that he is the only competent and capable of making the main decisions in the company, the only person with the right and power to control decisions and responsibilities.
Believes that workers are able to guide themselves, so you have to know how to govern and control them, owing them obedience to their orders and decisions.
James displayed characteristics of an autocratic leader, making unilateral decisions without the input of others, leading to discontent among trade union members who may have preferred a more inclusive leadership style.
Explanation:The scenario provided suggests that James, as a leader, took important decisions without consulting others and acted on his own whims. This behavior aligns with the characteristics of an autocratic leader. Autocratic leaders make decisions unilaterally, without the input or collaboration of others, which can lead to discontent and dissent among those they lead.
This approach is contrasted with a laissez-faire style, where leaders are more hands-off, and with a democratic style, where decisions are made collectively. In the context of the trade union, the members' discontent with James' high-handedness indicates they may have preferred more inclusive and consultative leadership practices.
It is evident that James did not embody the qualities of collaboration and shared decision-making that are often valued in organizational leadership. According to the descriptions in the provided links, such independent action can have consequences, including sparking opposition or being subject to reversal. The preference in many situations is for leaders who can balance swift decision-making with consultation and collaboration, traits which James seemingly lacked.
At the end of its first year, the trial balance of Crane Company shows Equipment $22,400 and zero balances in Accumulated Depreciation—Equipment and Depreciation Expense. Depreciation for the year is estimated to be $3,400. Indicate the balance sheet presentation of the equipment at December 31.
Answer:
The balance sheet presentation is shown below:
Explanation:
Balance Sheet is one of the most vital financial statement, which is prepared at the year end or period end. In this statement, the company states the total assets as well as the liabilities and shareholders equity of the whole period.
This statement is prepared in order to know the financial position of the company at the fiscal or accounting period or year.
So, the Equipment at December 31, would amount to $19,000
Final answer:
The balance sheet of the Crane Company would show the Equipment at a cost of $22,400, with an Accumulated Depreciation of $3,400, resulting in a net book value of $19,000 at December 31.
Explanation:
The balance sheet presentation of the equipment at December 31, after accounting for the depreciation, would reflect the original cost of the equipment and the accumulated depreciation. The original cost of the Crane Company's equipment is $22,400, and the estimated depreciation for the first year is $3,400. Thus, the accumulated depreciation after the first year would be $3,400, which needs to be subtracted from the equipment's original cost to reflect the net book value.
The entry for recording depreciation would be a debit to Depreciation Expense of $3,400 and a credit to Accumulated Depreciation—Equipment for the same amount. After this entry, the balance sheet would present the equipment as follows:
Equipment: $22,400Less: Accumulated Depreciation: $3,400Therefore, the net book value of the equipment on the balance sheet would be $19,000 ($22,400 - $3,400).
Health care spending in the United States is forecasted to be as much as $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy. Currently, health care spending is roughly $2.7 trillion. How is this cost paid for most Americans?
Answer:
The cost is paid through Private health insurance for most Americans.
Explanation:
Insurance in America is must for everyone, it is because by taking an insurance, not only the high cost of health care can be avoided but multifarious benefits can also be taken by the insurer. If a person becomes sick, then he does not need to pay but rather the insurance company will pay on his behalf. in order to rake insurance, it is necessary to pay some top y amount or insurance amount to the insurance company.
The critical care unit of a hospital utilizes team huddles at change of shift. This is an opportunity for the clinical supervisors to connect with team members and review the upcoming shift or any quick topics that need to be communicated. This is an example of a(n) _____ meeting.
Answer:
Information sharing meeting.
Explanation:
An information sharing meeting is done primarily to disseminate information or to inform attendees of a particular issue. At most times such meetings are educational.
When clinical supervisors to connect with team members and review the upcoming shift or any quick topics that need to be communicated, they are holding information sharing meeting.
Information sharing meetings keep team members updated on relevant information that will make them perform better.
Final answer:
The critical care unit's team huddles at shift changes are called huddle meetings; these are crucial for patient care and staff coordination in healthcare settings.
Explanation:
The critical care unit of a hospital utilizes team huddles at the change of shift, which is an example of a huddle meeting. A huddle is a brief gathering designed to enhance situational awareness, affirm existing plans, and make necessary adjustments to the team's collaboration strategy. These meetings are essential for the dynamic healthcare environment where patient conditions can frequently change, necessitating updates in care plans and real-time communication among team members.
Hospital huddles enable healthcare professionals to execute effective patient care by establishing clear goals, sharing important information, and ensuring continuity of care through interprofessional collaborative practice. Moreover, such huddles contribute to the overall safety of patients by enabling clinical supervisors and team members to assess each other's readiness for the shift, using tools like the 'I'M SAFE' mnemonic for personal safety status.
A registered representative at another member firm has a client who wishes to buy a Direct Participation Program (DPP) unit, a product that is not offered through his firm. He has a friend that is a registered representative at another member firm where DPPs are sold, and offers to refer the prospective client in exchange for a small fee. Which statement is TRUE?
A. This is permitted since the referral payment is small
B. This is permitted because the recipient of the referral fee is a registered individual
C. This is permitted as long as the client is informed that a referral fee has been paid
D. This is prohibited
Answer:
D. This is prohibited
Explanation:
Note that, the term 'registered representative' applies to an individual who works for a brokerage company and who serves as representative for clients trading investment products such as stocks or bonds.
Thus, according to regulations such registered representative is prohibited to perform such exchange, and can only share commissions or pay referral fees to other registered persons at the same broker-dealer, since the friend works for different firms.
If investors believe that a stock is not providing a return that sufficiently compensates them for the risk of the stock, they will _________. sell the stock, driving its market price down and its expected return up hold the stock until the return increases to match its risk sell the stock which will drive its expected return even lower buy the stock, driving its market price up and its expected return down
Answer:
sell the stock which will drive it's expected return even lower.
Explanation:
An investor wants to be compensated for the risk undertaken in the form of return. When investors believe that a stock is not providing sufficient return, such stocks would be sold by the investor.
When a stock is not performing well i.e it's current market price goes down, all the investors holding that stock will sell it , leading to it's market price going further down.
Since the market price goes further down, the expected return on such a stock would further decline.
As a result of _____, a critical assumption in the resource-based model of a firm, the resource differences that exist between firms are difficult to replicate.
Answer:
A. Resource immobility
Explanation:
Resource immobility is based on the assumption that resources owned by a company are immobile or rather not mobile/moveable. It is on the idea that resources tend to be sticky (cannot move) and this can not be moved easily from one company to the other. These immobility in resources results in resource differences amongst companies or firms which becomes very difficult to replicate. Resource immobility sometimes leads to resources not been used as efficiently as possible. Resource immobility are characterized by layoffs, closed bases, shipping cost and so on.
________ are payments that a defendant must make to a winning plaintiff in a civil lawsuit to compensate the plaintiff for the injuries or costs that the defendant's actions have caused.
Answer:
Compensatory damages.
Explanation:
Compensatory damages are amounts of money that is awarded by a civil court to a plaintiff to compensate him for damages, injury or other incurred loss. Compensatory damages are usually awarded when there is injury as a result of negligence or unlawful conduct of the defendant.
The onus is on the plaintiff to prove that a loss occurred and that it can be attributed to actions of the defendant.
Compensatory damages are awarded based on estimate of injury to the plaintiff.
Punitive damages on the other hand is often above injury estimate and is used as a deterrent to reoccurrence.
The Stewart Company has $2,014,500 in current assets and $785,655 in current liabilities. Its initial inventory level is $402,900, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0
Answer:
$20,145
Explanation:
The computation of short-term debt (notes payable) increase is given below:-
Current Assets = $785,655
Current Liabilities = $4,02,900
Current Ratio = (Current Assets + Increase in Inventory) ÷ (Current Liabilities + Increase in Notes Payable)
2.0 = ($785,655 + x) ÷ ($4,02,900 + x)
$805,800 + 2.0 = $785,655 + x
$805,800 - $785,655 = 2.0 - x
= $20,145
Creative Concepts Co. and Retail Investment Inc., form a joint venture to purchase and sell high-end real estate to foreign buyers. Creative Concepts contributes $400,000 in capital, and Retail Investment contributes $600,000 in capital. The first year resulted in $2,000,000 in profits. Unless otherwise agreed, joint venturers:
Answer:
The profit and losses from the joint venture are shared equally
Explanation:
The profit and losses from the joint venture are shared equally according to the proportion of capital invested in the organization. The reason is just like a partnership, the profits are distributed among the shareholders as a percentage of thier shareholdings and joint venture is the partnership of companies which jointly invest in an organization.
This type of financing includes charitable donations, either cash or in-kind, made to an organization and is the primary source or operating and investing income for major collegiate sports programs.
Answer:
Gifts
Explanation:
The gifts to charitable organization which includes the financing of the collegiate sports programs under the tax laws and regulations of United States are considered as Gifts and qualifies for the tax allowance with an equal amount.
A _____ plan gives all employees a minimum level of benefits and a set amount to spend on flexible benefits, such as additional healthcare or vacation time.
Answer:
Cafeteria Plan
Explanation:
The cafeteria plan is minimum benefits that the employer have to provide or personally provide to all the employees working in its organization. In some jurisdictions like USA and Europe, the employer has to provide minimum level of facilities and benefits to the employee which inculdes healthcare, pension contributions, etc.
Intrinsic motivation contributes to the ________ of work; Incentives contribute to the ________ of work.a. quality; outcomeb. quantity; quantityc. quantity; qualityd. quality; qualitye. quality; quantity
Answer:
quality:quantity
Explanation:
Intrinsic motivation contributes to the quality of work; incentives contribute to the quantity of work.
This is straight from one of the theories of reward management. These theories agree on a few broad strokes but fundamentally disagree on the overidiing motivation of human workers. Some giants in this field include Maslow, Vroom, Taylor, etc.
Intrinsic motivation contributes to the 'quality' of work due to its origin from personal satisfaction or interest, leading to improved attention and effort. Conversely, incentives, being external rewards, contribute to the 'outcome' of work, directing what the individual accomplishes.
Explanation:The answer to your question is 'a. quality; outcome'. Intrinsic motivation refers to motivations that come from within an individual rather than from any external or outside rewards. This type of motivation refers to motivation driven by personal satisfaction or interest in the task itself, and exists within the individual rather than relying on any external pressure or reward. It can contribute to the quality of work because when a person is motivated from within, they are likely to put in more effort and attention to detail, thereby improving the quality of the work.
On the other hand, incentives refer to external rewards or goals that motivate a person to perform a task. These can include monetary rewards, grades, or recognition. Incentives drive the outcome of work, as they often determine what the individual achieves as a result of their work, whether that's a good grade, a bonus, or other type of reward.
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The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s Antiques decides to purchase advertising services of $3,500 (not including the trade discount), while Michael’s Motors purchases only $700 of advertising. Both services are provided on account. Record both transactions for Giles agency
The journal entries are as follows
In the books of Giles Agency
1. Account receivable Dr $3,080
To Service revenue $3,080
(Being the service is provided in account)
The computation is shown below:
= $3,500 - $3,500 × 12%
= $3,500 - $420
= $3,080
2. Account receivable Dr $700
To Service revenue $700
(Being the service is provided in account)
Final answer:
For Audrey’s Antiques, a trade discount is applied, resulting in a transaction amount of $3,080. For Michael’s Motors, no discount is provided, making the transaction amount $700. Journal entries are made accordingly for both transactions.
Explanation:
The question asks for the recording of transactions for the Giles Agency after they provide advertising services, with specific focus on providing a trade discount to Audrey’s Antiques but not to Michael’s Motors due to the purchase amounts. Audrey’s Antiques purchases services of $3,500, eligible for a 12% discount, while Michael’s Motors buys $700 of services, not reaching the threshold for a discount.
For Audrey’s Antiques, the calculation is as follows: $3,500 x 12% = $420. Thus, the discounted amount is $3,500 - $420 = $3,080. The journal entry to record this transaction is:
Debit Accounts Receivable $3,080
Credit Sales Revenue $3,080
For Michael’s Motors, since no discount is applied, the entry is straightforward:
Debit Accounts Receivable $700
Credit Sales Revenue $700
E-commerce creates a great deal of data on how consumers interact with a website. L.L.Bean keeps records that show how quickly consumers make decisions, how many alternatives they explore, and whether they stop without completing a purchase. When a manager sees an issue and proposes a solution, the company can easily test the solution. This is an example of:________.
Answer:
evidence-based decision-making
Explanation:
Evidence - based decision - making -
It refers to the method of decision making which require certain evidence to help for the process , is referred to as evidence - based decision making .
The method require certain data or information like chats , feedbacks , telephone conversation etc. with the consumers in order to consider the likes and disliked of the consumers , in order to improve the product according to the taste of the consumers .
Hence , from the given scenario of the question ,
The correct answer is evidence - based decision making .
SPL Enterprises assigns overhead based on number of machine hours. For the upcoming year, they plan to use a total of 250,000 machine hours and 50,000 direct labor hours. Total overhead cost is expected to be $500,000. The predetermined overhead rate per machine hour is $
Answer:
Predetermined overhead rate for machine hour = $2
Explanation:
We know,
predetermined overhead rate for machine hour = [tex]\frac{total overhead cost}{total machine hour }[/tex]
Given,
Total overhead cost = $500,000
Total machine hours = 250,000
Putting the values into the formula, we can get [tex]\frac{500,000}{250,000}[/tex]
predetermined overhead rate for machine hour = $2
We know the predetermined overhead rate is calculated to determine the estimated cost of manufacturing overhead or indirect cost to various cost pools.
The predetermined overhead rate per machine hour for SPL Enterprises is calculated as $2. This rate is computed by dividing the total expected overhead costs ($500,000) by the total planned machine hours (250,000 hours).
Explanation:The question pertains to the computation of the predetermined overhead rate per machine hour in cost accounting for SPL Enterprises. This rate is determined by dividing the total overhead costs by the total machine hours. In this case, SPL Enterprises expects total overhead costs of $500,000 and plans to use 250,000 machine hours in the upcoming year. Thus, the predetermined overhead rate would be $500,000 / 250,000 = $2 per machine hour. That means, for each hour a machine is operated, an overhead cost of $2 is assigned to the respective product or job.
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Intel's chief executive says the company might expand the technology it is using in its planned $2.5 billion chip-manufacturing factory in China if the United States government allows it, underscoring the technology giant's ambitions in the world's fourth-biggest economy. The Intel executive is making a
Answer:
Investment Decision
Explanation:
The Investment Decision relates to the decision whether or not the company is going to invest in an project which requires the funding and resources of the country. The primary ambition of the company is to increase the profit of the organization which it is considering by establishing chip manufacturing factory. This decision might be affected by the government opposition however the decision is investment oriented decision making.
A coal mining company has employed around 250 miners who work 8-hour shifts every day. In the context of factors of production, the miners can be classified as _____.
Answer:
Human resources.
Explanation:
Human resources of a business is the manpower that is hired by a business to perform various activities aimed at achieving its set goals and objectives. The people employed are compensated with an amount that has been initially agreed upon.
Human resources bcan be for skilled or unskilled labor.
In this instance the coal mining company has employed around 250 miners who work 8-hour shifts every day. The agreed working condition for this human resource is for 8 hour shifts.
Beth participates in an investigation into possible violations of Title VII of the Civil Rights Act at Chem Works, Inc., where she is an employee. As a result, the employer demotes her. Beth can file:________.a. a disparate-impact discrimination claimb. a retaliation claim.c. a constructive discharge claim.d. none of the choices.
Answer:
retaliation claim
Explanation:
Beth participates in an investigation into possible violations of Title VII of the Civil Rights Act at Chem Works, Inc., where she is an employee. As a result, the employer demotes her. Beth can file: a retaliation claim.
Retaliation is any adverse action taken by a company against an employee because he or she filed a complaint about harassment or engaged in na activity that is perceived not to be in the interest of the company.
Such actions can include actions such as firing the employee, giving them negative evaluations, disciplining or demoting them, reassigning them or reducing their pay.
Beth has grounds to file a retaliation claim as Title VII of the Civil Rights Act of 1964 prohibits employer retaliation against employees who participate in investigations or complain about discrimination in the workplace.
Explanation:Title VII of the Civil Rights Act of 1964 protects employees from various forms of employment discrimination, including discrimination based on race, color, religion, sex, or national origin. It also prohibits retaliation against employees who participate in investigations or complain about workplace discrimination. Since Beth was demoted by her employer after participating in such an investigation, she has grounds to file a retaliation claim. This type of claim comes under the purview of Title VII as retaliation is considered an unlawful employment practice.
Moreover, the U.S. Supreme Court has extended Title VII protections to include LGBT employees in the case Bostock v. Clayton County, Georgia. The Equal Employment Opportunity Commission (EEOC) and state fair employment practice agencies (FEPAS) enforce these discrimination laws and provide a pathway for victims of employment discrimination and retaliation to seek justice. However, under the Civil Rights Act, before filing a lawsuit, individuals must file charges with the EEOC.
Since it has become known that several of a bank's top executives have been buying shares in their own bank, the bank's depositors, who had been worried by rumors that the bank faced-impending financial collapse, have been greatly relieved. They reason that, since top executives evidently have faith in the bank's financial soundness, those worrisome rumors must be false. Such reasoning might well be overoptimistic, however, since corporate executives have been known to buy shares in their own company in a calculated attempt to dispel negative rumors about the company's health.
In the argument given, the two boldfaced portions play which of the following roles?
(A) The first describes evidence that has been taken as supporting a conclusion; the second gives a reason for questioning that support.
(B) The first describes evidence that has been taken as supporting a conclusion; the second states a contrary conclusion that is the main conclusion of the argument.
(C) The first provides evidence in support of the main conclusion of the argument; the second states that conclusion.
(D) The first describes the circumstance that the argument as a whole seeks to explain; the second gives the explanation that the argument seeks to establish.
(E) The first describes the circumstance that the argument as a whole seeks to explain; the second provides evidence in support of the explanation that the argument seeks to establish.
Answer:
(B) The first describes evidence that has been taken as supporting a conclusion; the second states a contrary conclusion that is the main conclusion of the argument.
Explanation:
Since it has become known that several of a bank's top executives have been buying shares in their own bank, the bank's depositors, who had been worried by rumors that the bank faced-impending financial collapse, have been greatly relieved. They reason that, since top executives evidently have faith in the bank's financial soundness, those worrisome rumors must be false.
Such reasoning might well be overoptimistic, however, since corporate executives have been known to buy shares in their own company in a calculated attempt to dispel negative rumors about the company's health.
In the argument given, the two boldfaced portions play which of the following roles?
(B) The first describes evidence that has been taken as supporting a conclusion; the second states a contrary conclusion that is the main conclusion of the argument.
The conclusion of the first is that ''top executives evidently have faith in the bank's financial soundness, those worrisome rumors must be false.'' but that of the second is ''corporate executives have been known to buy shares in their own company in a calculated attempt to dispel negative rumors about the company's health.''
Hence the first is stating that the banks are sound because of executive share purchase and the second part is stating that the banks are NOT sound because executive share purchase is deceptive.
4) Typically, increasing interest rates 4) A) encourages corporate expansion. B) discourages individuals from saving. C) discourages corporate investments. D) encourages corporate borrowing. E) none of the above.
Answer:
C) discourages corporate investments.
Explanation:
Option A is incorrect because increasing interest rate discourages corporate expansion instead of encourages.
Option B is false. As interest rate increases, it encourages the individuals to save more.
Option D is wrong because corporation cannot borrow money if the interest rate increases.
Option C is correct because increasing interest rate discourages corporations to invest more.
When a taxpayer does not materially participate in the business activities of a trade or business (including rental activities) in which he is a partial owner, any loss that flows through to the taxpayer is subject to the______loss rules.
Answer:
Passive activity
Explanation:
Passive activities are those kind of activities which involve the business or the trade activities in which the person does not participate materially. And when the person participate materially in the activity, the person is involved in the operations of the company on a continuous, substantial as well as regular basis.
So, in this case, the taxpayer does not participate materially in the activities of the business and the taxpayer is the partial owner, any loss which flows through to the taxpayer will subject to the passive activity rules of loss.
Q 8.27: Luna Company sold $2,400 of merchandise to Hubbard Incorporated on May 1st with terms 2/10, n/30. On May 6th, Hubbard returned $350 of merchandise and paid in full on May 9th. Journalize the entry for Luna Company on the payment date.
Answer:
The journal entry is shown below:
Explanation:
The journal entry which is to be recorded on the date of payment is as:
Cash A/c...........................................................Dr $2,009
Sales Discount A/c.........................................Dr $41
Accounts Receivable- Hubbard Incorporated A/c..........Cr $2,050
As the goods sold by company, so they received cash and any increase in assets account is debited. Therefore, the cash account is debited. And the company also offered discount which is also debited and the account of accounts receivable is credited.
Working Note:
Amount of cash received = (Sold merchandise amount - Return goods amount) - 2% on amount
= ($2,400 - $350) - 2% on amount
= $2,050 - 2% × $2,050
= $2,050 - 41
= $2,009
An employee wore disposable gloves to form raw ground beef into patties. When she finished, she kept the gloves on while she sliced hamburger buns. Did she follow good food safety practice?
Explanation:
Yes , it´s not like she went on a bathroom break she still doing something in the kitchen.
Windy Day Flags is a growing company that produces decorative flags and other whimsical garden accessories. Charla, owner and CEO, plans to purchase the small company that already provides their flag material; the purchase will cut Windy Day’s materials cost by half and bring over a few employees with very specialized knowledge and skills. Which knowledge acquisition is Charla using?a. reverse engineering.
b. grafting.
c. experimenting.
d. environmental scanning.
Answer:
B) grafting
Explanation:
This is a very common expansion strategy mostly used by high tech firms that purchase startups basically for their patents (innovations) and their workers' talent.
But it can also be used by any company that decides to acquire a smaller supplier or vendor in order to lower costs or increase efficiency.
Donald buys a subscription to a national magazine that gives him two years for the price of one year. After the two years expire, Donald continues to receive the magazine for six more months, although he has not subscribed again. The magazine then sends Donald a bill for the magazines he received after the expiration of his subscription. Donald:__________.a. owes nothing.b. can be fined for failing to return the magazines.c. owes half of the bill.d. owes the full amount.
Answer: Owes nothing.
Explanation:
Donald owes the national magazine company nothing, this is because the company sent magazines to Donald even after his subscription to receive magazines had expired and he was yet to renew. Therefore, even if the magazine company charges Donald for the magazines he received for the extra six months, he is not mandated to pay because he didn't demand for them.