Answer: The correct answer is "D. To promote high standards of ethical norms and values".
Explanation: The American Marketing Association has a complete code of ethics, from which it undertakes to promote the highest level of standards and the application of professional quality ethical values for its different members.
Explain the following sentence when thinking about the international data Electra bikes is using to run its business. It is never possible to have all of the information required to make a 100 percent accurate prediction. Multiple Choice A. It is never possible to have all of the information required to make a 100 percent accurate prediction because most of the information an organization collects is protected by customers and suppliers. B. It is never possible to have all of the information required to make a 100 percent accurate prediction because achieving perfect information is almost impossible and extremely costly. C. It is never possible to have all of the information required to make a 100 percent accurate prediction because data warehousing and data mining are outdated technologies that are prone to errors and redundancy. D. All of these are correct.
Answer:
B. It is never possible to have all of the information required to make a 100 percent accurate prediction because achieving perfect information is almost impossible and extremely costly.
Explanation:
No further explanation is needed
The answer explains that it is nearly impossible and very costly to achieve perfect information, causing businesses to make decisions with imperfect information despite the vast amounts of data available.
Explanation:The statement that "It is never possible to have all of the information required to make a 100 percent accurate prediction" pertains to the realm of business decision-making, specifically within the context of using international data to run a business like Electra bikes. The correct answer to the student's multiple-choice question is B: It is never possible to have all of the information required to make a 100 percent accurate prediction because achieving perfect information is almost impossible and extremely costly. This concept is linked to the economic principle of imperfect information, where despite the rapid access to data and information, companies and individuals must still make decisions without having all the possible data at hand, partly due to the cost and practicality constraints in obtaining perfect information.
Electra bikes, like any other business, must grapple with this limitation as they analyze international data streams to make forecasts and business decisions. Choices are made based on the best available data, which may include historical trends, market analysis, and other relevant factors. The inherent uncertainty and the expensive nature of data collection mean completely accurate predictions are not feasible. Imperfect information can relate to the quality, timeliness, and comprehensiveness of data, impacting business strategy and outcomes.
Vivian Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory.
April May June
Required purchases (on account) $ 113,000 $ 133,000 $ 145,000
Vivian Booksâs accountant prepared the following schedule of cash payments for inventory purchases. Vivian Booksâs suppliers require that 90 percent of purchases on account be paid in the month of purchase; the remaining10 percent are paid in the month following the month of purchase.
Required
a.
Complete the schedule of cash payments for inventory purchases by filling in the missing amounts.
Schedule of cash payments for inventory
April May June
Payment for current accounts payable $107,350
Payment for previous accounts payable 14,000
Total budgeted payments for inventory $121,350
b.
Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.
Final answer:
The schedule of cash payments for inventory purchases is completed by calculating the payment for current accounts payable and payment for previous accounts payable for each month. The amounts are calculated using the given percentage of 90% for the month of purchase and 10% for the month following the month of purchase.
Explanation:
To complete the schedule of cash payments for inventory purchases, we need to calculate the amount of payment for current accounts payable and payment for previous accounts payable for each month.
For April, 90% of the required purchase of $113,000 is paid in the month of purchase, which is $113,000 * 90% = $101,700. The remaining 10% of the purchase is paid in the month following the month of purchase, which is $113,000 * 10% = $11,300. Therefore, the payment for current accounts payable in April is $101,700 and the payment for previous accounts payable is $11,300.
Following the same calculation, in May, the payment for current accounts payable is $119,700 and the payment for previous accounts payable is $13,300. In June, the payment for current accounts payable is $130,500 and the payment for previous accounts payable is $14,500.
Therefore, the schedule of cash payments for inventory purchases is as follows:
AprilMayJune$101,700$119,700$130,500$11,300$13,300$14,500$113,000$133,000$145,000
a. The schedule of cash payments for inventory purchases is: Month-April: Payment for current accounts payable is $101,700, Payment for previous accounts payable is $11,300.Month-April: Payment for current accounts payable is $119,700, Payment for previous accounts payable is $13,300. Month-June: Payment for current accounts payable is $130,500.Total payment for current accounts payable is $121,350.
b. Vivian Books will report $14,500 of accounts payable on its pro forma balance sheet at the end of the second quarter.
a. Complete the schedule of cash payments for inventory purchases:
Given:
Required purchases (on account):
April: $113,000
May: $133,000
June: $145,000
Vivian Books pays 90% of purchases in the month of purchase and 10% in the following month.
1. Calculate payments for current accounts payable:
April purchases: 90% of $113,000 = $101,700 (paid in April)
May purchases: 90% of $133,000 = $119,700 (paid in May)
June purchases: 90% of $145,000 = $130,500 (paid in June)
So, the payments for current accounts payable are:
April: $101,700
May: $119,700
June: $130,500
2. Calculate payments for previous accounts payable (10% of previous month's purchases):
Payment for previous accounts payable in May: 10% of April purchases = 10% of $113,000 = $11,300
Payment for previous accounts payable in June: 10% of May purchases = 10% of $133,000 = $13,300
So, the payments for previous accounts payable are:
May: $11,300
June: $13,300
3. Total budgeted payments for inventory:
Summing up the payments:
April: $101,700 (current) + $11,300 (previous) = $113,000
May: $119,700 (current) + $13,300 (previous) = $133,000
June: $130,500 (current)
b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter:
To determine the accounts payable at the end of June, we need to calculate the total purchases made during June and subtract the payments made in June:
Purchases in June: $145,000
Payments for June (90% of June purchases): $130,500
Accounts payable at the end of June:
[tex]\[ \text{Accounts Payable} = \text{Total purchases in June} - \text{Payments for June} \\\text{Accounts Payable} = \$145,000 - \$130,500 \\\text{Accounts Payable} = \$14,500\][/tex]
Characteristics of oligopoly An oligopolistic market structure is distinguished by several characteristics, one of which is either similar or identical products. Which of the following are other characteristics of this market structure?
a. Market control by many small firms
b. Mutual interdependence
c. Market control by a few large firms
d. Neither mutual interdependence nor mutual dependence
e. Difficult entry
Answer:
a. Market control by many small firms
c. Market control by a few large firms
e. Difficult entry
Explanation:
The oligopoly is a type of market where only a few dominant firms operate in such markets. Each of these firms has a significant presence in the market and can influence the pricing process. A special form of oligopoly - if there are only two firms in the market - is called duopoly. In other words, oligopoly means that there are many buyers in front of a small number of firms that will affect each other in the same field of activity.
When one firm's decision-making activities of other firms in the same area of activity are unaware and independent of each other's activities, it does not represent an oligopoly concept. There are certain conditions for a market to be an oligopoly market. These are the conditions that differentiate firms operating in the same field from other markets.
Features of oligopoly:
- It is important that firms operating in the oligopoly market have a mutual relationship with one another. It is important to follow and evaluate the behavior of one firm in terms of both the business and the competition and the decisions it makes by another firm. Otherwise, it is not appropriate to talk about oligopoly.
- Goods and services produced in oligopoly markets are sometimes delivered to consumers in completely different and sometimes different ways. If the goods and services produced in the oligopoly market are completely identical or completely substituted for each other, they are called pure oligopoly. An example is the goods produced in the oil sector.
- Another feature of the oligopoly market, unlike other markets, is that firms that have entered this market have to take into account pricing strategies, production volumes, consumer masses and similar variables in the market. This is one of the features that indicate that access to the oligopolistic market is difficult.
Types of oligopoly:
-Cournot model is the first and most widely used model in duopol models. Thus, it was founded in 1938 by the French economist Agustin Cournot. Agustin Cournot investigated how much of the market will be sold by two separate firms that use the same mineral water as their raw materials. One of the firms produces goods for half of the aggregate market demand in terms of profit margin. The other company selects the rest of the market with a target mass and produces the appropriate goods. Quantity strategy, not price, is important here.
In contrast to the Cournot model in the Bertrand model, firms act in accordance with their pricing strategies instead of the sales volume. According to the price of the first firm on the commodity, the second firm offers a lower price than the consumer. Accordingly, the first firm also offers a lower price on the market than the second. This implies the concept of price competition and, in this case, continues to the minimum profit margin.
-Chamberlin model. Firm A is the only manufacturer of the same kind in the market. Company B enters the market and starts producing this type of product. Here Company B operates in accordance with the firm's market strategy and operates on its experience. Unlike other models, the two existing companies in the market understand that they are interdependent and act on a common point.
- The Edgeworth model is the first company in the market to maintain a high level of profitability. On the other hand, a second firm that enters the market from a competitive position and redirects the mass to itself. In response, the first firm drops prices compared to the second firm. At the same time, the second firm is lowering the price of the first firm again. As this competition continues, firms are already thinking that they have created their target mass at some point. In this case, they start to raise prices. In the end, a wave-price mechanism emerges. This price volatility in the market continues until firms realize they have to share the market .
- In the Stackelberg model, one of the two firms in the market is a leader and the other is a successor company. The leader firm does not regard the pursuit firm as a powerful competitor and enables it to operate in the market. The pursuant firm, in turn, operates for maximum profit from its falling market share.
Rules of thumb rarely if ever lead to severe errors in the decision making process.a. Trueb. False
Answer:
False
Explanation:
Rule of thumb is generally an important factor in the decision-making process and they are made to mitigate the chances of errors. In decision making, there are various aspects which are involved and every time a decision is made circumstances are different. That is why the rule of thumb doesn't work always. So, the above statement is false, the rule of thumb can lead to severe errors in the decision-making process.
a. Attracting large amounts of capital is more difficult for partnerships than for corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity (difficulty buying and selling) of partnership interests
Answer:
The statement is: True.
Explanation:
Partnerships are organizations that share ownership of two or more people. Corporations, on the other hand, are owned by shareholders who decide how and who will run the business. Partnership owners are individually liable, implying that the owners' assets can be taken away in front of the debt.
Debt or legal responsibility in companies is not individual. Liability is only dealt with at the company level. In reality, partnerships require reorganization when one of the partners is quitting or passing away, something that does not happen to corporations. For these factors, the majority of associations find it difficult to raise significant amounts of funds relative to companies.
explain why an economy in which airlines charge different passangers different prices for the same flight ticket will not achieve echomic efficiency ?
Answer:
Price discrimination is when a producer charges different prices, to different consumers for the same good or service. Therefore, an airline that charges different prices to different passengers for the same flight is practicing a third degree price discrimination because consumers are charged different prices based on their different demand elasticities.
Economic efficiency is when scarce resources are used in the most efficient way to produce maximum output; it consists of productive efficiency and allocative efficiency. For price discrimination to be possible, the firm must have a certain degree of monopoly power; that is, the firm must be a price maker. Monopolies typically fit into this description as they discriminate by charging consumers with an inelastic demand higher prices; this reults in allocative ineffciency because price is greater than the Marginal Cost (P>MC).
On the other hand price discrimination could increase efficiency; price discrimination aims to convert consumer surplus to producer surplus, thereby increasing the profit of the firm. An increase in profits could be dedicated to investement in research and development; this could see such a firm achieve dynamic efficiency (long-run productive efficiency). Secondly, due to the increased profits and the potential for more profits, output is increased and price moves closer to the MC (Closer to allocative efficiency). In addition, an increase output would mean that the firm is making use of its spare/idle capacity in production, moving output towards optimum. From another perspective, a firm can reap economies of scale through price discrimination; this is because price discrimination leads to an increase in output and a reduction in average cost.
Explanation:
Final answer:
An economy where airlines engage in price discrimination by charging different prices for the same flight ticket to different passengers, such as business travelers and tourists, may not achieve economic efficiency due to the distortion of consumer and producer surplus, creation of deadweight loss, and potential for monopolistic control.
Explanation:
An economy in which airlines charge different passengers different prices for the same flight ticket may not achieve economic efficiency due to the distortion of consumer and producer surplus. Airlines often use price discrimination, a strategy where different prices are charged to different groups of customers for the same service. In the case of airlines, this is often seen with business travelers and tourists, who are charged different rates based on their price elasticity of demand. While this strategy may increase airline profits, it can lead to inefficiencies in the market.
For instance, business travelers, who may have inelastic demand due to rigid travel schedules, could be charged higher prices. Conversely, tourists, who often have more flexibility and elastic demand, could be charged lower prices to fill seats. This type of pricing doesn't necessarily reflect the actual cost of providing the service but rather the maximum willingness to pay of different customer segments. While this allows airlines to capture more consumer surplus, it can also create deadweight loss, a market inefficiency where not all potential gains from trade are realized.
This inefficiency arises because the optimal allocation of resources, where price equals marginal cost, is distorted. The high prices for business travelers might reduce the number of those travelers below what would be socially optimal, while the lower prices for tourists might encourage more travel than is cost-effective from a resource allocation perspective. Furthermore, aggressive price discrimination practices, like slashing prices to remove competition, could lead to monopolistic control, further distorting prices and reducing economic efficiency.
Matured Water Services had net income for the month of October of $ 50 comma 880. Assets as of the beginning and end of the month totaled $ 362 comma 000â, and $ 486 comma 000â, respectively. Calculate Matured Waterâ Services' ROA for the month of October.
Answer:
12%
Explanation:
Given that,
Net income = $50,880
Asset at the beginning = 362,000
Asset at the end = 486,000
Average total assets:
= (Asset at the beginning + Asset at the end) ÷ 2
= (362,000 + 486,000) ÷ 2
= $424,000
Therefore,
ROA = Net income ÷ Average total assets
= $50,880 ÷ $424,000
= 0.12 or 12%
Therefore, the Matured Water Services' ROA for the month of October is 12%.
The Return on Assets (ROA) of Matured Water Services for the month of October is 12% after calculating with the given figures of net income and average total assets.
Explanation:The question is asking for the Return on Assets (ROA) of the company Matured Water Services for the month of October. The formula to calculate Return on Assets (ROA) is Net Income divided by Average Total Assets. In this case, the net income is $50,880. The average total assets are calculated as the sum of the beginning and ending total assets divided by 2, which in this case is $(362,000+486,000)/2 = $424,000. Therefore, the ROA is $50,880/$424,000 = 0.12, or 12%
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Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data
Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost:
Overhead Cost = $150,000 + ($52 x Direct Labor Hours)
Required:
1
2. If next month's budgeted direct labor hours equal 8,000, what is the budgeted overhead cost?
$
3. If next quarter's budgeted direct labor hours equal 23,000, what is the budgeted overhead cost?
$
4. If next year's budgeted direct labor hours equal 99,000, what is the budgeted overhead cost?
$
Answer: attached below
Explanation:
Study the following transactions . Journalize the transactions in a two-column journal, using the appropriate number to identify the transactions.
1. Billed customers for fees earned, $55,330.
2. Purchased supplies on account, $2,380.
3. Received cash from customers on account, $52,010.
4. Paid creditors on account, $1,440.
Answer:
Explanation:
The journal entries are given below:
1. Account receivable A/c Dr $55,330
To Fees earned $55,330
(Being the fees earned is recorded)
2. Supplies A/c Dr $2,380
To Account payable A/c $2,380
(Being the supplies is purchased on account)
3. Cash A/c Dr $52,010
To Account receivable A/c $52,010
(Being the cash is received from customers)
4. Account payable A/c Dr $1,440
To Cash A/c $1,440
(Being cash is paid to creditors on account)
When do the OSD comptroller analyst and Office of Management and Budget analyst hold hearings to review the service's budget?
Answer:
Last quarter of every year (October, November or December)
Explanation:
Last quarter of every year (October, November or December)
A statute that imposes a 10-year jail sentence for driving while intoxicated would be best classified as ________________________a. Civil, procedural, and public. b. Criminal, substantive, and public laws. c. Civil, substantive, and private. d. Criminal, procedural, and public. e. Criminal, procedural, and private.
Answer:
a. Civil, procedural, and public.
Explanation:
A statute that imposes a 10-year jail sentence for driving while intoxicated would be best classified as civil, procedural, and public.
Social compensation is especially likely when high-ability group members are suspected of loafing.
a. True
b. False
Answer:
The correct answer is letter "B": False.
Explanation:
Social loafing is the act in which employees underperform while given tasks individually compared when working in groups. Under this scenario, it is unlikely employers would provide extra compensation to workers because their productivity does not justify the reward.
"The 2017 balance sheet of Dream, Inc., showed current assets of $3,190 and current liabilities of $1,480. The 2018 balance sheet showed current assets of $3,240 and current liabilities of $1,670."What was the company's 2018 change in net working capital, or NWC?
Answer:
This problem requires us to calculate Dream Inc change in net working capital, or NWC. The woking capital is the company ability to pay its short term liabilities. In other words it shows how liquid company is.
Working capital is difference between current asset and current liability.
2017 NWC = 3,190 - 1,430 = 1,710 -A
2018 NWC = 3,240 - 1,670 = 1,570-B
Change in NWC = A-B = $ 140
The company net working capital has decreased by 140 dollars.
Sarah is watching a baseball game and accesses the internet to look up stats for one of the players. In terms of integration of media platforms this illustrates:
Answer:
The correct answer is: investigative spider-webbing.
Explanation:
Investigative spider-webbing refers to the practice of using information media to enhance the data that could be collected from a source that is already in use. The secondary information is typically obtained from the internet using laptops, smartphones or tablets to obtain supplementary content on relevant information or to create content that could be immediately seen in the primary device.
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts recelvable, and prepald expenses. The 2018 balance sheet reported the following: cash, $1,440,000; prepald expenses, $500,000; noncurrent assets, $3,800,000; and shareholders' equity. $3,900,000. The current ratio at the end of the year was 20 and the debt to equity ratio was 1.4.
Required:
Determine the following 2018 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.)
1. Current liabilities
2. Long-term liabilities
3. Accounts receivable
4. The acid-test ratio
Answer:
a) Current Liabilities $2,780,000
b) Long term liabilities $2,680,000
c) Accounts receivable $3,620,000
d) Therefore Acid Test 1.8
Explanation:
Step 1: Calculate the Current Liabilities
The question requires a work-back based on the information given as follows
Stockholders Equity (A) $3,900,000
Debt Equity Ration 1.4
Total debt therefore ($3,600,000 x 1.4) (B) $5,460,000
Total debt and equity therefore is (A + B ) $9,360,000
($3,900,000 + $5,460,000)
Total Equity and Debt = Total Assets
Total Assets therefore $9,360,000
Therefore Current Assets $5,560,000
(Total debt - Non Current Asset)
($9,360,000 - $3,800,000)
Less: Cash and prepaid expenses ($1,940,000)
($1,440,000 + $500,000)
Accounts receivable $3,620,000
Current Ratio therefore is 2.0 (not 20)
Meaning: Current Liabilities $2,780,000
(Current Assets/ Current ratio)
($5,560,000/2)
Step 2: Calculate Long term Liabilities
Total debt (from step 1) $5,460,000
less; Current Liabilities $2,780,000
Long term liabilities $2,680,000
Step 3: Accounts Receivable
Total Assets $9,360,000
Current Assets $5,560,000
(Total debt - Non Current Asset)
($9,360,000 - $3,800,000)
Less: Cash and prepaid expenses ($1,940,000)
($1,440,000 + $500,000)
Accounts receivable $3,620,000
Step 4: The Acid test ratio
Cash $1,440,000
Accounts Receivable $3,620,000
Quick Asset (Cash + Accounts receivable) $5,060,000
Current Liabilities $2,780,000
Therefore Acid Test 1.8
(Quick Asset / Current liabilities)
(5,060,000/2,780,000) 1.8
Final answer:
This response explains how to calculate current liabilities, long-term liabilities, accounts receivable, and the acid-test ratio based on the information provided in the question.
Explanation:
Current liabilities: To find current liabilities, we use the current ratio formula: Current Ratio = Current Assets / Current Liabilities. Given the current ratio is 20, and we know current assets are $1,940,000, we can calculate current liabilities to be $97,000.
Long-term liabilities: Long-term liabilities can be found by using the debt to equity ratio formula: Debt to Equity Ratio = Total Liabilities / Shareholders' Equity. Shareholders' Equity is given at $3,900,000, and the debt to equity ratio is 1.4, so total liabilities would be $5,460,000.
Accounts receivable: We are given cash, prepaid expenses, and noncurrent assets, so to find accounts receivable, we calculate Total Assets = Current Assets + Noncurrent Assets. Therefore, accounts receivable would be $2,360,000.
The acid-test ratio: The acid-test ratio formula is (Current Assets - Inventory) / Current Liabilities. Since inventory information is not provided, we cannot calculate the exact acid-test ratio without that data.
The market demand curve A. is found by vertically adding the individual demand curves. B. represents the sum of the quantities demanded by all the buyers at each price of the good. C. slopes upward. D. represents the sum of the prices that all the buyers are willing to pay for a given quantity of the good.
Answer:
B. represents the sum of the quantities demanded by all the buyers at each price of the good
Explanation:
The market demand curve is found by horizontally adding the individual demand curves.
The market demand curve slopes downward.
I hope my answer helps you
The market demand curve represents the total quantity demanded by all buyers at each price (option B). It is typically downward sloping, reflecting that lower prices induce greater demand.
The market demand curve can best be defined by statement B. It represents the sum of the quantities demanded by all the buyers at each price of the good. This curve is achieved by horizontally summing all individual demand curves. The market demand curve typically slopes downward, depicting an inverse relationship between price and quantity demanded.
An upward sloping curve is not generally characteristic of demand curves, but rather of supply curves. And the curve doesn't represent the sum of the prices that buyers are willing to pay, rather it represents the quantity of the good that buyers are willing to buy at each price level.
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Suppose at the beginning of the year, a textbook book sells for €60 in Paris, France, and $60 in New York City, and PPP holds. Over the year, there is an inflation rate of 10 percent in France and no inflation in the United States. What exchange rate would maintain PPP at the end of the year?
Answer:
1 USD= 1.1 Euros
Explanation:
As per Purchasing power parity, the exchange rate between two countries is determined by the rate of inflation prevailing in the two countries.
Purchasing power parity is given by the following equation:
[tex]\frac{FR\ (Euro\ /USD)}{SR\ (Euro\ /USD)}[/tex] = [tex]\frac{(1\ +\ Inf\ in\ France)}{(1\ +\ Inf\ in\ USA)}[/tex]
wherein, FR = 1 year forward rate of Euro per USD
SR= Spot rate of today Euro per USD
Inf= Inflation rate
Price of textbook next year in France= Euro 60 × (1 + .10)= Euro 66
Price of a textbbo in USA= $60
spot rate= 1 $= 1 euro i.e 60$ being equal to 60 euros
Forward exchange rate( Euro per dollar)= 1 × [tex]\frac{(1\ +\ .10)}{(1\ +\ 0)}[/tex]
Forward Exchange rate will be 1 USD= 1.1 Euros
Emma is the labor union negotiator. Today she is meeting with management to discuss the new five year contract, including wages and benefits. This example of labor-management negotiations over wages exemplifies which type of bargaining?
A) integrative bargaining
B) arbitrationC) distributive bargaining
D) mediation
E) conciliation
Answer:
Letter C is correct. Distributive bargaining.
Explanation:
Distributive negotiation is a win-lose competitive negotiation strategy. That is, a party only wins if another party loses something. The central objective of this strategy is for a party to earn as much as it can.
Therefore, the ideal alternative to the above question is distributive negotiation, which is used to distribute fixed resources, such as money, assets, resources and labor management negotiations such as wages.
Answer:
To which of the following categories do collective bargaining, mediation, and arbitration belong?
Explanation:
Many economists argue that, in the long run, the economy self-corrects and achieves full employment. What is this argument called?
Answer:
Classic Model
Explanation:
Classical economists brought the view of market economy for the most effective solution of economic problems. They advocated that economic problems would be solved spontaneously and within the framework of the possibilities, if the rules of the market economy were followed, and they defined the state as a unit that operates in a limited area and does not interfere with the economy.
Classical economists argued that the economy would automatically stabilize at full employment level under conditions of full competition.
The basis of the classical model is the assumption that the economic units are rational. Consumers try to maximize their benefits, while manufacturers try to maximize their profits. Classical economists argue that the state should not interfere with the economy. Because, according to the classics, the economy will always be fully employed and the general level of prices will always make a certain level of decision. The state does not need to get involved in the economy in order to reach full employment and to get rid of excessive price movements such as inflation and deflation. The "invisible hand" in the economy provides spontaneous full employment and price stability.
The basic assumptions of classical economic theory are as follows;
- Full competition conditions apply in the economy.
- Fees, interest rates and commodity prices are flexible.
- Each supply creates its own demand. (Say's Law)
- In the economy, money is demanded only for trading purposes, money is neutral. Money supply only affects the absolute price level, not relative (relative) prices and the real economy.
The classic model was popular before the Great Depression. It was said the economy was developing freely and that prices and wages were adjusted according to the time-consuming ups and downs. In other words, when times are good, wages and prices are rising rapidly, and when times are bad, wages and prices are set free. The main assumption of this model is that the economy is always in full employment, that is, everyone who wants to work is fully trained and able to work from all sources. Classical economists believe that the economy is self-adjusting, meaning that no one needs help in the event of recession. This is a Classic Model.
The estimator determines who is responsible for what cost portion of supplying the temporary utilities.
A. True.
B. False
When should you use Add other funds to this deposit grid in a Deposit Transaction? Identify 3 correct options. (Select all that apply)(A) When an employee reimburses the company(B) You receive a tax refund from the IRS(C) You need to record an ACH payment of a customer invoice(D) When a company doesn’t record income using sales transactions (invoices or sales receipts), and wants to record deposits directly to income accounts To record the payment of a Vendor Bill
Answer:
(A) When an employee reimburses the company
(B) You receive a tax refund from the IRS
(D) When a company doesn’t record income using sales transactions (invoices or sales receipts), and wants to record deposits directly to income accounts
Explanation:
The three options are -
Option A is correct as the employee repays the company so that the funds to this deposit will be added to the deposit transaction.
Option B is correct as the employee or an individual will get the tax refund from the IRS which can be deposited to the deposit grid.
Option D is correct as it is recorded to income accounts directly as deposits.
Any payment cannot be added as deposit. Therefore, option C is incorrect.
Final answer:
The 'Add other funds to this deposit grid' in Deposit Transactions is used when an employee reimburses the company, when receiving a tax refund from the IRS, and for directly recording income not through sales transactions. It is not used for recording ACH payments of customer invoices.
Explanation:
Using the Add other funds to this deposit grid in a Deposit Transaction is necessary in several distinct scenarios within the realm of accounting and financial management. This feature allows for recording various types of transactions that are not directly related to customer payments or regular sales receipts.
(A) When an employee reimburses the company: If an employee is returning money to the company that they had previously been given, such as for a business expense that was overpaid, this would be recorded here.(B) You receive a tax refund from the IRS: Tax refunds are not sales revenue, but they are funds that the company receives and needs to account for. The deposit grid is the correct place to record such transactions.(D) When a company doesn’t record income using sales transactions: If a business directly receives income that is not associated with an invoice or sales receipt, such as a one-time income source or a rental income, it can be recorded in the deposit grid to the appropriate income accounts.However, option (C), recording an ACH payment of a customer invoice, does not belong in the deposit grid. Customer invoice payments are typically recorded elsewhere in the accounting system, usually through the accounts receivable module, rather than directly in a deposit transaction.
Provide responses to the following questions 1. What is the purpose of a staffing management plan? What does it address?
Answer:
Explained below:
Explanation:
A staffing management plan refers to the plan produced to help businesses primarily identify and later procure the workers at all levels and in all departments of the business organization. The purposes of a staffing management plan to :
Classify staffing needs.
Build timelines.
Establish funds considerations.
Devise and implement talent acquisition strategies.
Construct and execute an on boarding schedule.
Identify and design suitable training bodies and methods.
Follow the plan until it reaches effectiveness.
It addresses the requirements of the organization in many ways, depending upon its business model, its structure, and the system in which it finishes projects and reaches deadlines.
A student borrows $55 comma 700 at 9.6% compounded monthly. Find the monthly payment and total interest paid over a 25 year payment plan.
Answer:
total interest paid I =$ 552,455.77
monthly payment = A/ nt =$2,027.18
Explanation:
compound interest formula is given by
A = P (1 + (r/n))^(nt)
where
A = ? (final amount)
P = $55,700
r = 9.6%
t = (1/12)monthly.
n = 25 year payment plan.
A = $55,700 (1 + (9.6/12))^(25*12)
total amount A = $608,155.77
total interest paid I =$ 552,455.77
initial principal P =$ 55,700
monthly payment = A/ nt = $608,155.77 / 300
=$2,027.18
To find the monthly payment and total interest paid over a 25 year payment plan, use the formula for the monthly payment of a loan. The monthly payment is approximately $454.09 and the total interest paid over the 25 year payment plan is approximately $36,227.
Explanation:To find the monthly payment and total interest paid over a 25 year payment plan, we can use the formula for the monthly payment of a loan. The formula is: Monthly Payment = P * (r(1+r)^n) / ((1+r)^n - 1), where P is the principal amount, r is the monthly interest rate, and n is the number of monthly payments. In this case, P = $55,700, r = 0.096/12 = 0.008, and n = 25*12 = 300. Plugging in these values, we get: Monthly Payment = $55,700 * (0.008(1+0.008)^300) / ((1+0.008)^300 - 1) ≈ $454.09. The total interest paid over the 25 year payment plan can be calculated by subtracting the principal from the total amount paid over the 25 years. Total Interest Paid = (Monthly Payment * n) - P ≈ ($454.09 * 300) - $55,700 ≈ $36,227. The monthly payment is approximately $454.09 and the total interest paid over the 25 year payment plan is approximately $36,227.
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GoodTimes, Inc. has asset turnover of 0.5 times, a net profit margin of 10% and average total assets of $100, what is its net income (assuming no unusual items)?
Answer:
$5
Explanation:
Given that,
Asset turnover ratio = 0.5 times
Net profit margin = 10 percent
Average total assets = $100
Asset turnover ratio = sales ÷ Total asset
0.5 = sales ÷ $100
sales = $50
Profit margin = Net income ÷ sales
0.10 = Net income ÷ $50
Net income = $5
Therefore, the net income of GoodTimes, Inc. is $5.
To find the net income of GoodTimes, Inc. with a net profit margin of 10%, an asset turnover of 0.5 times, and average total assets of $100, you calculate total revenue by multiplying asset turnover by average total assets, then multiply the result by net profit margin. Net income is $5.
To calculate the net income of GoodTimes, Inc., we can use the formula:
Net Income = Net Profit Margin x Total Revenue
First, we need to find the Total Revenue. This can be done using the asset turnover ratio:
Asset Turnover = Total Revenue / Average Total Assets
Therefore:
Total Revenue = Asset Turnover x Average Total Assets
Total Revenue = 0.5 times x $100
Total Revenue = $50
Now, using the net profit margin, we calculate net income:
Net Income = Net Profit Margin x Total Revenue
Net Income = 10% x $50
Net Income = 0.10 x $50
Net Income = $5
The net income for GoodTimes, Inc. is $5, assuming no unusual items are present.
Financial and managerial accouting questions for my review sheet! i rate well.
Question 56
Select the correct statement.
A. Four purposes often claimed for budgeting involve planning, coordination, performance measurement, and reporting.
B. In a participative budgeting system, budget information flows in one direction only, from bottom to top.
C. The three major categories of the master budget are operating budgets, capital budgets, and pro forma financial statements.
D. The accounting department normally coordinates the development of the sales forecast.
Answer:
The correct answer is letter "C": The three major categories of the master budget are operating budgets, capital budgets, and pro forma financial statements.
Explanation:
A Master Budget is the compilation of all the budgets different departments of a company must come up with. Besides, the master budget includes the company projected financial statement, financial plan (operating budget with sales, expenses, and administrative projections), and cash-flow (capital budget including the acquisition of machinery, building, and labor).
If you deposited $100 now (nequals0)and $200 two years from now (nequals2)in a savings account that pays 10% annual interest, how much would you have at the end of year 10?
Answer:
The correct answer is: "You would have $589 the end of year 10".
Explanation:
The logics of the statement remains in the amount of money remained after 10 years of savings with a 10% annual interest. This means that, after you deposit $100 now (nº 0), on the first current year you would have ended up with $110, although in the second year (nº 2) you would have made a deposit of $200, which means you would have made total earnings of $310, plus the annual interest of $31. After the second year, all subsequent ones wound count on with an annual interest of $31, which means that at end of year 10 you would have reached the amount of $589.
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Macroeconomic factors that influence interest rate levels Aa Apart from risk components, several macroeconomic factors-such as Federal Reserve (the Fed) policy, federal budget deficit or surplus, international factors, and levels of business activity influence interest rates. Based on your understanding of the impact of macroeconomic factors, identify which of the following statements are true or false: False True Statements If the Fed injects a huge amount of money into the markets, inflation is expected to decline, O and long-term interest rates are expected to rise. Foreign investments fuel growth in a country. However, this investment is based on factorsO that affect the business environment and increase riskiness, such as macroeconomic policies, political changes, labor issues, tax rates, and regulations. Countries with strong balance sheets and declining budget deficits tend to have lower interest O rates. When the economy is weakening, the Fed is likely to decrease short-term interest rates.
Answer:
All the given statements except first statement are true.
Explanation:
If the Fed injects a huge amount of money into the markets, inflation is expected to decline and long-term interest rates are expected to rise
If the fed injects a huge amount of money into markets, then aggregate demand levels in the future are expected to rise and thereby inflation is also expected to rise not decline. To control the rising inflation, the Fed will increase the interest rates thereby implying an increase in longer term interest rates. Hence, the above statement is false.
Foreign investments fuel growth in a country. However, this investment is based on factors that affect the business environment and increase riskiness, such as macroeconomic policies, political changes, labor issues, tax rates and regulations
If the policies at the government (fiscal) and central bank (monetary) level are supportive of growth considering inflation, pro-business political changes, tax rates are progressive and other regulations support the economic system, then foreign investors would surely be attracted to invest in the country. Vice-versa will be the case if all the above mentioned factors go in another direction and unemployment level is higher. Hence, the above statement is true.
Countries with strong balance sheets and declining budget deficits tend to have lower interest rates
True.
The countries with stronger balance sheets, have lower interest rates as the monetary policy is investment supportive which boosts the GDP.
Declining budget deficits will involve lower deficit financing, which has a direct relation with inflation. Hence lower deficit financing implies lower inflation and lower interest rates thereby.
When the economy is weakening, the Fed is likely to decrease short-term interest rates
True. When the economy is weakening, the Fed would like to follow a monetary easing policy. This implies, it will lower the interest rates to boost investment and growth in the economy. Hence, interest rates are likely to decline in the shorter term thereby due to the weakening economy.
Which of the following organizations requires publicly owned companies to be audited byindependent accountants (CPAs)?A) Securities and Exchange Commission (SEC)B) Public Company Accounting Oversight Board (PCAOB)C) Financial Accounting Standards Board (FASB)D) American Institute of Certified Public Accountants (AICPA)
Answer:
A) Securities and Exchange Commission (SEC)
Explanation:
Securities and Exchange Commission (SEC) is an agency of the federal or central government established by law. it laid down rules and regulations to be followed by security brokers, dealers and other market participants which shapes their relationship and ensure fairness in their business business relationship, The SEC as it is popularly called is charged with the responsibility of regulating the security and exchange market as a whole.
Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $47,000. Budgeted cash receipts total $131,000 and budgeted cash disbursements total $126,000. The desired ending cash balance is $64,000. To attain its desired ending cash balance for May, the company needs to borrow:
Answer:
$12,000
Explanation:
Beginning cash balance = $47,000
Budgeted cash receipts = $131,000
Budgeted cash disbursements = $126,000
The desired ending cash balance = $64,000
The net movements around the cash opening balances, cash receipts, disbursement and borrowing results in the closing balance by the formula below;
The desired ending cash balance = Beginning cash balance + Budgeted cash receipts + Borrowing - Budgeted cash disbursements
$64,000 = $47,000 + $131,000 + Borrowing - $126,000
Borrowing = $64,000 + $126,000 - $47,000 - $131,000
Borrowing = $12,000
Borrowing required to achieve desired closing balance is $12,000
Which of these statements represent ideas that Peter Drucker introduced in his book The Practice of Management? (select all that apply)
A. Production costs are a component of sales
B.Charismatic leaders are more important than management practices
C.Employees should be treated as assets
D. A corporation can be thought of as a human community
E. Without customers, businesses wouldn't exist
Answer:
The correct answers are letters "C", "D", and "E": Employees should be treated as assets; A corporation can be thought of as a human community; Without customers, businesses wouldn't exist.
Explanation:
Austrian business professor Peter Ferdinand Drucker (1909-2005) is well-known in management for his book "The Practice of Management" (1954) in which he highlighted the importance of companies in society. Drucker studied the human side of corporations which includes workers and how leadership influences them. Besides, according to him, a business exists with the ultimate goal of creating a customer, meaning that managers would have to know their clientele and their needs to drive a firm to success.
Statements that represent ideas that Peter Drucker introduced in his book The Practice of Management are;
Employees should be treated as assets. A corporation can be thought of as a human community.Without customers, businesses wouldn't exist.Practice of Management can be regarded as how the goals of the organization can be achieved. It involves all managerial functions and all these are emphasized by Peter Drucker .
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