The essential characteristic of an asset, according to the FASB Conceptual Framework, is that it is a resource with present service potential that is controlled by an entity as a result of past transactions or events.
The Financial Accounting Standards Board (FASB) Conceptual Framework defines an asset as a "probable future economic benefit obtained or controlled by a particular entity as a result of past transactions or events." The essential characteristics of an asset, as defined by the FASB, include: control, potential to produce future economic benefits, past transactions or events, and some uncertainty or risk that the potential economic benefits will not be realized. Control is the most important characteristic of an asset. An entity must have the ability to direct the use of, or obtain the benefits of, an asset. Potential to produce future economic benefits is the second characteristic of an asset. This means that an asset must have the potential to generate future economic benefits, such as cash flows or other forms of value. The third characteristic of an asset is that it must have resulted from a past transaction or event.
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Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items:
$50,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025.
Prepaid rent of $24,000, covering the period January 1, 2022, through December 31, 2023.
Notes payable of $200,000. The notes are payable in annual installments of $20,000 each, with the first installment payable on March 1, 2022.
Accrued interest payable of $12,000 related to the notes payable.
Investment in equity securities of other corporations, $80,000. Cone intends to sell one-half of the securities in 2022.
$50,000 in cash restricted in a savings account to pay bonds payable: This amount would likely be classified as a long-term liability on the balance sheet, as it is being set aside to pay off bonds that do not mature until 2025.
What are the classification of given items?Prepaid rent of $24,000: This amount would likely be classified as a current asset on the balance sheet, as it represents an advance payment for a service that will be received in the future.Notes payable of $200,000: This amount would likely be classified as a long-term liability on the balance sheet, as the notes are payable in annual installments over a period of multiple years.Accrued interest payable of $12,000: This amount would likely be classified as a current liability on the balance sheet, as it represents interest that has been earned but not yet paid on the notes payable.Investment in equity securities of other corporations, $80,000: This amount would likely be classified as a long-term asset on the balance sheet, as it represents an investment that Cone intends to hold for an extended period of time. However, if Cone intends to sell one-half of the securities in 2022, it can be classified as short-term assets.To learn more about balance sheet refer:
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$50,000 in cash restricted in a savings account to pay bonds payable: This amount would likely be classified as a long-term liability on the balance sheet, as it is being set aside to pay off bonds that do not mature until 2025.
What are the classification of given items?
Prepaid rent of $24,000: This amount would likely be classified as a current asset on the balance sheet, as it represents an advance payment for a service that will be received in the future. Notes payable of $200,000: This amount would likely be classified as a long-term liability on the balance sheet, as the notes are payable in annual installments over a period of multiple years. Accrued interest payable of $12,000: This amount would likely be classified as a current liability on the balance sheet, as it represents interest that has been earned but not yet paid on the notes payable. Investment in equity securities of other corporations, $80,000: This amount would likely be classified as a long-term asset on the balance sheet, as it represents an investment that Cone intends to hold for an extended period of time.
However, if Cone intends to sell one-half of the securities in 2022, it can be classified as short-term assets.
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Which of the following statements is most accurate about ownership of household goods, such as flush toilets, refrigerators, televisions, clothes dryers and automobiles?
a. In 2005, very few "officially poor" Americans owned these goods.
b. The same proportion of Americans who were officially poor owned these goods in 2005 in comparison to 1950. The proportion of officially poor Americans who owned these goods in 2005 was equal to the proportion of all households who owned these goods in 1950.
c. A higher proportion of "poor" Americans owned these goods in 2005 compared to the proportion of all U.S. households who owned these goods in 1950.
d. The proportion of Americans at the poverty level who owned these goods in 2005 was exactly double the proportion of all households who owned these goods in 1950.
b. The same proportion of Americans who were officially poor owned these goods in 2005 in comparison to 1950.
The proportion of officially poor Americans who owned these goods in 2005 was equal to the proportion of all households who owned these goods in 1950. Even in the early 1980s, official estimates of poverty, which were around 45% in the early 1950s, remained constant. India's economy has grown at one of the world's quickest rates since the 1980s.
Since 1980, the U.S. has seen a growth in income inequality, which is now higher than in comparable nations. There are various ways to quantify income disparity, but regardless of the method, wealth inequality in the United States is thought to be increasing.
The United States has greater income and wealth disparity than almost any developed nation, and this inequality is growing. Racial disparities in wealth and income are significant, which many analysts ascribe to the nation's history of slavery and racist financial practices.
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Therefore option C is correct choice.
In 2005 and 1950, the same percentage of Americans who were classified as being in poverty had these items.
In 2005, the percentage of Americans who were classified as being in poverty was identical to the percentage of all families in 1950. Official estimates of poverty, which were approximately 45% in the early 1950s, were steady even in the early 1980s. Since the 1980s, India's economy has expanded at one of the fastest rates in the world.
Income inequality in the United States has increased since 1980 and is currently greater than in similar countries. There are several ways to measure income inequality, but regardless of the approach, it is believed that wealth inequality in the United States is rising.
The income and wealth discrepancy in the United States is bigger than that of nearly any other industrialised country, and it is only becoming worse. Significant racial wealth and income gaps exist, which many observers attribute to the country's past involvement with slavery and discriminatory financial practises.
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during 200x, papa company sold inventory, which cost it $18,000, to its subsidiary, sonnyco, for $27,000. at the end of 200x, sonnyco had $9,000 of the intercompany goods still on its books. the balance had been resold to unaffiliated customers for $24,000. which one of the following is the amount of intercompany sales that should be eliminated for 200x consolidated statements?
For 200x consolidated statements, $27,000 should be subtracted from intercompany sales. Inventory was sold by Papa Company to its subsidiary, Sonnyco, for $27,000 during 200x. Since this is an intercompany sale, double counting should be avoided by removing it from the consolidated statements.
Sonnyco still held $9,000 of the intercompany items on its books at the end of 200x, indicating that they had not yet been sold to non-affiliated consumers. The remaining amount has been resold to unrelated clients for $24,000. Even if Sonnyco resold it to unrelated clients for $24,000, the $27,000 is the amount that should be deleted since intercompany sales for 200x consolidated statements should be erased. As a result, there is no longer a double counting of revenues, and the consolidated company's financial image is more accurate.
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2.discuss the features of enterprise-wide resource planning systems in global operations. elaborate on the functionality of vendor information in light of order winners and qualifiers.
Enterprise resource planning (ERP) software discuss the features of enterprise-wide resource planning systems in global operations.
How does enterprise resource planning work?
The capacity to provide an integrated suite of business software is referred to as enterprise resource planning (ERP).
Finance, HR, distribution, manufacturing, service, and supply chain activities are just a few examples of the extensive and intricate operational end-to-end processes that are covered by the common process and data model shared by ERP solutions.
What is an ERP example of enterprise resource planning?
For instance, in the supply chain sector, an ERP system may automatically do a financial analysis and forecast future stock requirements to maintain a healthy level of inventory.
The production division operates at peak efficiency thanks to this process control, which also guarantees that popular products are always available.
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assume that country a and b are trading partners. if a's currency appreciates in comparison to b's currency. which of the following will be true in this scenario?
It is assumed that country A and country B are trading partners in the given question. The correct option is A. A. Net exports of country A will decrease, and net exports of country B will increase.
If country A’s currency rises in relation to country B’s currency, nation A's net exports will fall while country B's net exports would rise. The correct option is A.
An export occurs when a good or service is created in one country but sold to a customer in another. Exports are one of the most traditional types of economic transfer and occur often between nations.
Exports are crucial to modern economies because they give people and companies access to a wide range of new markets for their products.
In this instance, if the value of currency A increases relative to currency B increases, country A's net exports decrease while country B's net exports increase because country A will purchase more from country B due to the price benefit.
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The question is incomplete, the complete question is
Assume that country A and B are trading partners. If A's currency appreciates in comparison to B's currency. Which of the following will be true in this scenario?
A. Net exports of country A will decrease, and net exports of country B will increase.
B. Net exports of country A will decrease, and net exports of country B will also decrease.
C. Net exports of country A will remain unaffected, and net exports of country B will increase.
D. Net exports of country A will increase, and net exports of country B will remain unaffected.
E. Net exports of country A will increase, and net exports of country B will also increase.
In the given case, it is assumed that country A and country B are trading partners. If A’s currency rises in relation to B’s currency, nation A's net exports will fall while country B's net exports would rise.
If a product or service is produced in one nation but sold to a buyer in another country is referred to as an export. Exports are one of the elderly varieties of economic transfer and take place on a huge scale between countries.
Exports are extremely significant in modern economies because they provide individuals and businesses with many additional markets for their goods.
In this example, f the value of A's currency rises in comparison to the value of B's currency, nation A's net exports decline while country B's net exports grow, as the county A will buy more from the country B due to the price benefit.
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The primary difference between operational auditing and financial auditing is that in operation auditing?
-The operational auditor is not concerned
-The operational auditor is seeking to help management
-The operational auditor starts with the financial statements
-The operational auditor can use analytical skills
Operational audits are conducted to determine whether an organization's activities are being carried out successfully and efficiently whereas financial audits are conducted to acquire an independent assessment of "true and fair view" on financial statements.
What distinguishes a financial audit from an operational audit?Financial transactions, accounts, and financial reports would be the main topics of a financial audit. The financial focus of management (or operational or performance) audits would be on the effectiveness and economy of resource management and consumption.
What is the main distinction between an assurance audit and an operational audit?Increasing effectiveness and/or efficiency are the main objectives of assurance audits. Operational audits are not covered by audit reports.
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Mighty Green, a residential lawn chemical manufacturer, is committed to gaining market share in it's industry. Mighty Green:
Mighty Green, a manufacturer of home lawn chemicals, is striving for market share in the industry. Mighty Green has the potential to increase the level of competitiveness within the industry.
What are chemical manufacturers doing?The chemical manufacturing subsector is part of the manufacturing sector. It is based on the transformation of organic and inorganic raw materials into product formulations through chemical processes.
Example of a chemical manufacturing include: plastics, detergents, cosmetics, paints and varnishes, electronics, automotive and building materials.
Who are the largest chemical manufacturers?The world's largest chemical company is China Petroleum & Chemical Corporation, with a turnover of his US$424,837 million. As of 2021, the market size of the global chemical industry is US$595.3 billion. Over 10 million new compounds are created each year.
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economies of scale, absolute cost advantages, high capital requirements, and limited access to channels of distribution give incumbent firms an advantage over new entrants to an industry. [see pp.70-71]
Economies of scale, absolute cost advantages, high capital requirements, and limited access to channels of distribution give incumbent firms an advantage over new entrants to an industry - True
Economies of scale refer to the notion that the cost of producing each unit of a product lowers as the amount produced in a given time period increases. It relates to the cost advantages a business experiences as output rises. The ability of a company to create items at a lower cost than its rivals is referred to as an absolute cost advantage.
High capital needs describe the significant sum of money required to launch and run a business in a specific industry. Limited access to distribution channels describes the challenges that new businesses may face in putting their products to market. When these elements come into play, it may be challenging for new businesses to enter and compete in a market with long-standing incumbent companies.
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an elimination of nontariff barriers on apples tends to increase apple imports, reduce profits of import-competing apple producers, and generate job losses for domestic apple workers.
Option A. True, the removal of nontariff barriers on apples usually results in an increase in apple imports, a decline in the revenues of apple producers who compete with imports, and job losses for local apple workers.
The relative concentration of bargaining power between foreign exporters and domestic importers determines how an import quota's revenue-generating impact is distributed. Non-tariff trade barriers are ones that impose restrictions on the import or export of goods without the use of tariffs. The World Trade Organization (WTO) categorizes a number of non-tariff trade barriers, such as import licensing, pre-shipment inspections, rules of origin, customs delayers, and other mechanisms that obstruct or limit trade. An import tax, or tariff, can be considered. If the positive terms of trade effect outweighs the negative protection effect and consumption effect, a tariff may improve the welfare of a "big" levying country. Import taxes on steel have a tendency to make domestic automakers more competitive.
An elimination of nontariff barriers on apples tends to increase apple imports, reduce profits of import-competing apple producers, and generate job losses for domestic apple workers.
a. True
b. False
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One year the postage rate FOR sending 1 ounce of mail first class was increased from 25 cents to 29 cents.
The percent of increase in the 29-cent postage rate was most nearly....
A. 14%
B. 16%
C. 18%
D. 20%
The 29-cent postage rate's percentage rise was most closely $0.29 - $0.25 ($.4) ($.4, 4/25 = (.16 or 16%).
The postage stamp's significance is what?But stamps themselves also convey messages through their use and imagery, outside of their function as communication facilitators. Stamps serve as a functional reminder that the correct amount of payment has been provided for the delivery of a letter. A number of actors use stamps to symbolically convey meaning. In addition to fostering a sense of unity among the country's citizens, a strong postal system provides a crucial foundation for the growth of business and industry. In poor nations with few banking facilities, postal savings and money transfer services are very helpful. Similar to the fundamental reforms of the British system pushed for by Rowland Hill and the Scinde reforms of Bartle Frere, the stamps were necessary to demonstrate that the postage was paid in advance.
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investing with this type of investment allows you to take advantage of the large gains that are possible in the stock market, while managing your risk through diversification without having to be super wealthy.
Without having to be extremely wealthy, investing in mutual funds enables you to benefit from the significant gains that the stock market may offer while reducing your risk through diversification.
How does the economy impact the stock market?In essence, firms stand to profit more from a rights offering the more the market values the shares. Given that company investment boosts economic output and boosts employment, this additional money might have a significant effect on a large number of individuals. The stock market frequently serves as a gauge of public opinion and can have a positive or negative effect on GDP. In a bull market, where stock values are growing, consumers and businesses are wealthier and more confident, there is more spending, which raises GDP. People who have money invested in the equity markets prosper as stocks rise. When people feel confident about their financial situation, they tend to spend more on products and services, which increases consumer expenditure.
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lincoln enterprises recently fired two employees who were caught stealing tools from the firm's warehouse. as a result, the ceo of lincoln wants to strengthen the firm's ethical culture and prevent future violations by requiring employees to participate in ethics training programs. which of the following most likely undermines the ceo's idea? group of answer choices competitors of lincoln enterprises provide regular ethics training programs to managers and employees. middle managers at lincoln regularly receive reports of questionable employee behavior. senior managers at lincoln indicate that valuable work time would be lost with a training program. since lincoln enterprises is a global firm, the training program would need to be translated.
The CEO's plan would probably be undermined if someone said, "Senior management at Lincoln indicate that precious work time will be wasted with a training program."
What is a training program?An employee's knowledge, skills, and talents can be improved through a training program, which is a collection of organized activities. It can include a variety of subjects, including technical expertise, leadership development, client relations, and safety protocols. There are several ways that training programmes may be given, including in-person instruction, online courses, on-the-job training, and mentoring. An organization's objectives are achieved and staff performance is improved through training program, which also increase production. Training program may be provided by the business or a third party and can be either required or optional.
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in october 2015, hurricane joaquin caused massive destruction to north and south carolina, new york, and florida. catastrophic flooding occurred, with 25 deaths, hundreds of people requiring rescue, and estimated damage costs of $12 billion. even those who were not directly affected by the destruction were hurt because businesses and jobs dried up.
The answer is Increased government spending in the affected areas will encourage other people to spend more.
In the United States, Maryland, New Jersey, North Carolina, South Carolina and Virginia declared states of emergency last week while New York, Pennsylvania and all other states prepared for the hurricane.
South Carolina was hardest hit by "firehose" moisture from the Atlantic Ocean, bringing precipitation at 3 inches per hour and causing flash flooding. Some of moisture came from Hurricane Joaquin, that is the eye of which passed west of Bermuda last night with 100 winds blowing at 1500 mph. Parts of South Carolina rained over 20 inches last night.
According to the South Carolina Department of Natural Resources, previous notable flooding occurred in 1999, 1990, 1908, and 1903 from heavy rains.
Question:
In October 2015, Hurricane Joaquin caused massive destruction to North and South Carolina, New York, and Florida. Catastrophic flooding occurred, with 25 deaths, hundreds of people requiring rescue, and estimated damage costs of $12 billion. Even those who were not directly affected by the destruction were hurt because businesses and jobs dried up.
Which principle of economy-wide interaction explains how government intervention can help in this situation?
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the graduate management admission test (gmat) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. the average gmat score is (magoosh website). assume that gmat scores are bell-shaped with a standard deviation of . use the empirical rule to answer the following. a. what percentage of gmat scores are or higher (to decimal)?
Many colleges employ the Graduate Management Admission Test (GMAT), a standardized test, as part of the evaluation process for admission.
What makes me a graduate?
Many colleges employ the Graduate Management Admission Test (GMAT), a standardized exam, as part of the evaluation process for admission. Graduation is a noun that means "a person who has gotten a degree or diploma upon completing a course of study" (pronounce it: [graj-oo-it]). In other words, a graduate is someone who has finished a certain degree of education, such as a doctor who recently finished medical school or a youngster who just finished kindergarten. When you enroll in school full-time, it usually takes between four and five years to finish a bachelor's degree.
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In mapping a total compensation strategy, the question of how is compensation in the overall HR strategy is part of the objectives. True or False
The topic of how pay fits into the whole HR strategy is one of the objectives when mapping a complete compensation plan.
What does compensation look like?The components of compensation include salary, leave time, health benefits, and bonuses. It also provides other benefits like a corporate car, free parking, complimentary or discounted meals, travel expenses, etc.
What does business compensation entail?Management can employ compensation for a number of things to support the company's continued existence. Compensation may be changed in accordance with the demands, objectives, and resources of the company. Payment could be used to hire and keep talented workers.
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The complete question is-
In mapping a total compensation strategy, the question of how is compensation in the overall HR strategy is part of _____.
A. objectives
B. internal alignment
C. external competitiveness
D. management
Claire Corporation is planning to issue bonds with a face value of $110,000 and a coupon rate of 6 percent. The bonds mature in two years and pay interest quarterly every March 31, June 30, September 30, and December 31. All of the bonds were sold on January 1 of this year. Claire uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
1. Provide the journal entry to record the issuance of the bonds.
2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year.
3. What bonds payable amount will Claire report on this year’s December 31 balance sheet?
Debit: Cash (102,160) Credit: Bonds Payable (110,000) Credit: Discount on Bonds Payable (7,840) for the issuance of the bond, Debit: Interest Expense (330) Credit: Cash (330) for interest payment and Bonds Payable of 110,000 will be reported on this year's December 31 balance sheet.
The journal entry to record the issuance of the bonds would be: Debit: Cash (110,000 x (1 - (8/100)*(2/12)) = 102,160) Credit: Bonds Payable (110,000)Credit: Discount on Bonds Payable (110,000 - 102,160 = 7,840)
The journal entry to record the interest payment on March 31, June 30, September 30, and December 31 of this year would be:Debit: Interest Expense (110,000 x 6/100 x 1/4 = 330)Credit: Cash (330)
On this year's December 31 balance sheet, Claire will report Bonds Payable of 110,000.
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Depository institutions (Dis) play an important role in the transmission of monetary policy from the Federal Reserve to the rest of the economy because A. U.S. Dls compete with foreign financial institutions. B. loans to corporations are part of the money supply. C. bank and thrift loans are tightly regulated. D. thrifts provide a large amount of credit to finance residential real estate. E. DI deposits are a major portion of the money supply.
(b)loans to corporations are part of the money supply depository institutions (Dis) play an important role in the transmission of monetary policy from the Federal Reserve to the rest of the economy because
The Federal Reserve Board can involve directly the commercial banks in the implementation of monetary policy through changes in the reserve requirements and the discount rate.A Federal Reserve open market sale decreases the money supply.The Fed engages in open market operations very frequently and with great effect. Open market operations are the primary way that the Fed tries to change the money supply.The Fed has traditionally used three tools to conduct monetary policy reserve requirements, the discount rate.To increase the growth of the money supply,the Fed could either buy bonds,lower the reserve requirement ratio,or lower the discount rate.To decrease the growth of the money supply,the Fed could either sell bonds,raise the reserve requirement ratio, or raise the discount rate.
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when businesses employ social networking as part of their culture, employees should take which of the following steps? (choose every correct answer.)
Understand the company's social media policies and guidelines. Understand the company's overall communication strategy. Understand how to use the specific social media platforms the company uses.
What is networking?The act of connecting computers, gadgets, and other pieces of equipment to one another in order to exchange resources and information is referred to as networking. This might involve interconnecting devices within a single space, like a house or workplace, or linking devices across spaces, such connecting to the internet or linking many offices. The connections between individuals and organizations, such as those made at networking events and on social networking platforms, are often referred to as networking. Ethernet, Wi-Fi, and the Internet Protocol are just a few examples of the technologies and protocols that may be used for networking (IP).
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*SEO and SEM are key tech industry acronyms that have become vital parts of the accounting professionalâs operating toolkit. True or False
It is false that SEO and SEM are important technology industry acronyms that have become a vital part of an accountant's operating toolkit.
What does accounting professional mean?The term accountant refers to a professional who performs accounting functions such as account analysis, auditing, or financial statement analysis. CPA works with accounting firms or internal accounting departments of large companies.
Accountants support corporate strategy, advising and helping businesses reduce costs, improve profitability, and mitigate risk. As directors, accountants represent the interests of company owners (that is, shareholders of public companies).
What types of accounting profession are there?There are following types of accounting jobs: Management Accountant.. Investment Accountant. Staff Accountant. Project Accountants. Forensic Accountant. Certified Public Accountant. Cost Accountant. Auditor
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From the perspective of macro-marketing, the discrepancy between the small quantity of a product that individual consumers need and the large quantity that firms produce exists because:
A. businesses can satisfy customers better when they have large inventory surpluses.
B. it is necessary to achieve customer satisfaction.
C. society has evolved past a subsistence economy.
D. businesses prefer to store products for long periods.
E. firms seek to benefit from economies of scale.
the discrepancy between the small quantity of a product that individual consumers need and the large quantity that firms produce exists because: it is necessary to achieve customer satisfaction.
The person who really uses any products or services is the consumer. Any individual or group who uses a good or service for the last time is referred to be a consumer. Consumers are defined as anybody, other than the buyer, who purchases the good or services and uses them with that person's consent. The act of consuming an item or service is known as consumption. The terms "consumer" and "customer" are frequently used synonymously. To fulfil their needs, consumers purchase commodities and services, while producers create these items. This is just partially true. A client is an individual or business that makes purchases of products or services. They could eat them or not.
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the four ps make up the marketing mix, which is the set of activities that the firm uses to respond to the wants and needs of its target markets.
The four Ps make up the marketing mix, which is the controllable set of activities that the firm uses to respond to the wants and needs of its target markets.
In economic and business, Marketing generally can be defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. One type of marketing is marketing mix. Marketing mix can be defined as a foundation model for businesses, historically centered around product, price, place, and promotion.
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van was asked to analyze businesses by classifying them as winners, losers, question marks, average businesses, and profit producers. he was most likely using the .
Van was asked to analyze businesses by classifying them as winners, losers, question marks, average businesses, and profit producers. he was most likely using the GE Business Screen
This element has to do with how quickly the business unit can turn a profit in the sector. Consider the company's potential for long-term growth, the size and profitability of the industry, entry and exit barriers, etc. when assessing it along this dimension. Assess any other environmental variables that might affect an industry's attractiveness, such as the influence of suppliers and buyers.Additionally, think about the price, labor needs, and evolution of your good or service. Focusing on the far future, it is crucial to take into account all these factors. This is because investing calls for a long-term commitment as opposed to a short-term one.This matrix's vertical axis, labeled "Industry Attractiveness," is split into three categories: high, medium, and low. The potential for profit is represented by an industry's attractiveness.
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8) In 2011 the United States economy had a GDP of $14,991 billion according to the United Nations. If consumption was $10,729 billion, government spending was $2,594 billion, and net exports was -$568 billion, how much was investment spending?
The investment spending I is given as $2,236 billion.
What is investment spending?Capital items, or products utilized in the creation of capital, goods, or services, are purchased using this money. Spending on investments may involve the acquisition of equipment, real estate, supplies used in manufacturing, or infrastructure.
How to solve for investment spendingThe formula is given as: I = GDP − C − G − NX.
We have to fill in the values using the data we have from the question
$14,991 - $10,729 - $2,594 - -$568
Investment spending is given as $2,236 billion.
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exhibit 3.4 shows parrot company's net income equal to $693,000. consolidated net income is also equal to $693,000 because the parent company, in its internal financial records, employs the
The "equity method" is what the parent business, Parrot Company, most certainly employs to record its investment in the subsidiary in its internal financial records.
The equity method is a technique of accounting for an investment in a subsidiary in which the parent company adds or deducts from its own net income its proportionate share of the subsidiary's net income or loss. In this instance, it may be assumed that the parent business is utilising the equity method to account for its investment in the subsidiary because the net income for both the parent company and the consolidated entity equals $693,000. In contrast to simply listing the investment as an asset or liability on the balance sheet, the equity method recognises the parent company's share of the subsidiary's net income or loss in the parent company's own financial statements.
The complete question is:
Exhibit 3.4 shows Parrot Company's net income equal to $693,000. Consolidated net income is alsoequal to $693,000 because the parent company, in its internal financial records, employs the ____method to account for its investment in the subsidiary.
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Of the following firms, which would most likely derive the greatest benefit from use of an activity based costing system for allocating overhead? A. A firm that produces three types of products that require regular design adjustments and are manufactured using equipment that needs frequent maintenance and reengineering. b. A firm that produces two types of products, each of which is entirely manufactured by hand. C. A firm that produces one type of product using fully automated equipment that requires minimal maintenance or reengineering. D. A firm that produces four types of products using equipment that requires little maintenance or updating but nearly constant operation by skilled employees.
The correct response is b) A firm that produces four types of products, each of which is primarily manufactured by hand.
A firm is a for-profit business entity that offers expert services, such as a corporation, limited liability company (LLC), or partnership. Most companies only have one physical location. When you say that someone is firm, you're implying that they act in a way that makes it clear that they won't back down or that they are in charge. She needed to be firm with him. A single proprietorship, partnership, limited liability company, or corporation are examples of businesses. The phrase is a little more frequently connected to a partnership. A company, such as a corporation, is a business organization that manufactures and sells products and services with the intention of bringing in money and turning a profit.
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Of the following firms, which would most likely derive the greatest benefit from the use of a traditional costing system that allocates overhead based on direct labor hours?
a) A firm that produces three types of products that require regular design adjustments and are manufactured using equipment that needs frequent maintenance and reengineering
b) A firm that produces four types of products, each of which is primarily manufactured by hand
c) A firm that produces three types of products using fully automated, dedicated production lines that require minimal maintenance or reengineering
d) A firm that produces four types of products using equipment that requires little maintenance or updating but occasional employee monitoring
When entering an Available Date prior to the Start Date on the Rent Roll tab, AE assumes_______________________________.The space is occupied until the Start Date.The space is available, but vacant until the Start Date.The space does not exist until the Start Date.None of the Above
If you enter an availability date before the start date on Rent Roll tab, AE assumes the space is available, but vacant until the start date.
What does rent roll mean?By definition, a rent roll is a useful management tool that provides details about the property, displays legally required lease information, and helps landlords track contract start and end dates, rental income per property, and even annual growth.
Is a rent roll an asset?A rent roll is a liquid asset that can be traded in whole or in part. There is a standardized method of valuing leases based on a multiplier of net recurring income from property management.
How to create a rent roll?Effective Marketing Strategies for Property Managers to boost Rent Roll include: Conduct market research on an ongoing basis. Listen to conversations on social media. Understand different customer types. Create a marketing strategy for your agency. Regularly publish case studies to show potential clients.
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dividends in arrears on the preferred stock amount to $25,000. if biotin were to be liquidated, the preferred stockholders would receive par value plus a premium of $50,000. the book value per share of common stock is
On the balance sheet, arrear dividends are shown as a current liability. A business owns preferred stock that is cumulative and pays annual dividends of $20,000 on it. For the past two years, the dividends have been late.
How are dividends in arrears calculated?By dividing the annual payment by four, you may get the quarterly estimated payment. Finally, multiply the estimated quarterly dividend payment by the quantity of overdue payments to determine the total amount of dividends. Prior to issuing dividends to common investors, this sum must be paid out.
What format should be used to report cumulative preferred dividends in arrears?However, the dividends paid on cumulative preferred stock in arrears are disclosed in the footnotes to the balance statement, and they frequently have a justification.
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The current account includes which of the following? I. payment s for good s and services II. transfer payments III. factor income A. I only B. II only C. III only D. I and II only E. I, II, and III
Transfer payments, factor income, and payments for products and services are all included in the current account.
What is payment?A payment is made by one party to another voluntarily in exchange for products or services they have delivered or to satisfy a legal obligation. It can take the form of cash, its equivalent, or other valuables. Payer and payee are terms used to refer to the parties who send and receive payments, respectively. The exchange of money, products, or services for goods and services in reasonable amounts that have been previously agreed upon by all parties is known as payment. A payment can be made using cryptocurrency, cash, checks, credit cards, debit cards, or the exchange of services. It can also be made using wire transfers, checks, and cash.To learn more about payment, refer to:
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all of the following are potential examples of hidden unemployment, except: select the correct answer below: someone who has found part-time work but is looking for full-time work someone with a graduate degree who is working as a waiter someone who has a full-time job but wants to look for a job with more upward mobility someone who is so discouraged by unemployment that she stops looking for work
Someone who has a full-time job but wants to look for a job with more upward mobility Hidden unemployment covers people who are mislabeled as employed, unemployed. This would be the correct answer.
What is Hidden unemployment?
People who are unemployed but are not counted in official unemployment statistics are said to be experiencing hidden unemployment. The phrase also refers to underemployed individuals. Official unemployment statistics frequently only count those without a job who are actively looking for one.
We frequently use the terms "disguised unemployment" and "hidden unemployment" interchangeably.
Those with advanced degrees who are underemployed also hold low-wage occupations. The number of underemployed people also includes part-time employees who want full-time employment. Underemployment is a form of hidden employment.
People who are willing to work but are unable to do so are said to be involuntarily unemployed
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ou recently had an accident on the job. some equipment fell on you causing a serious injury, and your medical bills alone are likely to be over $85,000. you claim an outside vendor who was working on the equipment that day created the problem that caused the injury, and you want to sue. you live and work in texas, and the outside vendor is a resident of oklahoma.
Either a federal courts or a state court should hear your case.
Federal courts review matters involving the legality of legislation, laws and treaties drafted by American ambassadors and public ministers, disagreements between two or more states, admiralty law, often known as maritime law, and bankruptcy proceedings. State courts are established by state legislation and are endowed with broad power. These courts can hear a variety of situations, including criminal charges and family law conflicts. As opposed to state courts, which are formed in accordance with the U.S. Constitution, federal courts have far more limited authority. Federal courts resolve conflicts concerning the U.S. Constitution, federal legislation, conflicts between states, and conflicts involving more than $75,000 between residents of separate states.
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You recently had an accident on the job. Some equipment fell on you causing a serious injury, and your medical bills alone are likely to be over $85,000. You claim an outside vendor who was working on the equipment that day created the problem that caused the injury, and you want to sue. You live and work in Texas, and the outside vendor is a resident of Oklahoma. Where do you think you should file the lawsuit?