A scenario that illustrates the concept of opportunity costs is when Gilbert works at an annual salary of $60,000 or he starts a business.
What is an illustration of opportunity costs?The store owned by Gilbert could have been rented out at an annual lease of $15,000. If Gilbert's store generates annual revenue of $200,000 with a cost of goods worth $100,000 and selling and administrative expenses that cost him $25,000 annually.
If Gilbert chooses to open the store, his economic gain from running the business will be $20,000 ($200,000 - $80,000 - $25,000 - $15,000 - $60,000).
Whereas, if he chooses employment as an accountant, his economic profit will be $75,000 ($60,000 + $15,000).
Thus, based on the concept of opportunity costs, which gives rise to economic profit, Gilbert will be advised to take up employment instead of starting his own business.
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All of the following would be considered examples of employer postretirement benefits EXCEPT
a. social security.
b. dental care.
c. tax services.
d. medical care.
b) Outline any five factors that an entrepreneur should put into consideration when starting a business.
Consider the need your company meets. Perhaps your product can accelerate a problem or process, prevent a loss, or provide a service that your community needs. Your location may also be important if you can provide services like good food, laundry, or repair to a neighborhood that lacks them.
2) Business StructureConsider whether you will work with others or alone. If you intend to collaborate with others, ascertain what type of business structure best suits your needs. People who want to share decision equally-making and risk should form a partnership. Investors in a corporation or limited partnership have little or no control over business operations.
3) Supplies and sourcingConsider the tools and stuff you will need. Consider your needs for manufacturing and purchasing. A store might need displays, decorations, and a way to pay, while a restaurant needs cooking tools and special storage. Add raw materials and packaging to your list. Your business may require specific phones, computers, or fax machines. If you are going to be away from home, think about how you will get there and what tools you will need.
Consider whether you value local or organic sourcing, vegan processing, or no animal testing in your purchasing decisions. If possible, test or inspect materials before purchasing. Trade shows and free samples may be offered by some suppliers before a purchase is made.
4) LocationThink about where you would like to start your company. When shipping or providing a service, you may be able to operate your business from home. For a storefront, think about how much rent you can afford and how appealing the place is to people. Consider material storage, large equipment, and convenient delivery or shipping locations.
5) MarketingConsider the various ways in which you can spread the word about your venture. Your target market may help you decide where to advertise. An experienced marketing consultant can help you create a comprehensive marketing strategy for your business.
I hope this helps you
:)
Match each graph with the correct location where it could be used in that scenario.
Answer:
f
Explanation:
the first is with the fourth and the third is with the second and 1 is with 1
Answer: Purple- top left
green- top right
blue- bottom left
red-bottom right.
Explanation:
problem: rapid economic growth
what monetary policy tool can be used to correct the problem above and how does it correct the rapid economic growth?
Answer:
yes
Explanation:
so the problem is economic which people below is could be the farmer who work hard and the salary they earn is low, that will be the problem of government, why doesn't be fair for the in high class has the power to control the low class interaction.
Question Number 4) A tool The Weather Channel uses to tell them what are the key elements of the role and what is the compensation for the role is a(n) ________.
Answer:
I believe is the correct answer
Explanation:
weather indicator(s)
how hospital capacity considerations differ from a factory.
Answer:
One of the differences between hospital and factory capacity is that a hospital can add capacity easily by adding more staff and beds. A factory is usually technologically limited and therefore must plan well in advance to add capacity.
Explanation:
state and explain five internal and external entrepreneurial motivation factors
The five internal and external entrepreneurial motivation factors that we have identified are as follows:
Internal Factors:
Innovative spiritThe desire for independenceSelf-actualizationRecognitionAchievement
External Factors:
Entrepreneurial motivation factors are the forces that drive enterprise and move individuals to embark on the entrepreneurial journey.
Entrepreneurs can embrace enterprise for financial rewards, independence, personal growth, self-reliance, a sense of control, and accomplishment.
However, these entrepreneurial motivation factors can be classified into:
Intrinsic (internal) needsExtrinsic (external), that is, environmentally-fostered needs.Thus, the five internal and external entrepreneurial motivation factors show that entrepreneurs are self-driven. They play crucial roles in their societies to change the narrative.
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What can be protected by a patent?
A. The right to have exclusive use of real property
B. The right to use a specific and unique creative production
C. The night to use unique and innovative ideas
D. The right to use any type of intellectual property
Answer:
C.
Explanation:
You can patent an Idea so that no one else can use it.
Hope this helps :)
A strength of Enterprise's Generation X managers is likely to be their _____
Answer:
A strength of Generation X managers is likely to be their ability to provide feedback to employees
Explanation:
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poor farmer intends to cultivate three acres of paddy but the necessary credit facilities for such farming. The farmer needs money to prepare and till the land. Farmer approaches you for expert advice on how to get the necessary credit facilities. Advise the farmer on the best mode of Islamic microfinance for their needs and explain the procedure and conditions for the validity of the contract.
The advice which I would give to a poor farmer who intends to collect a loan to cultivate three acres of paddy with Islamic microfinance is that he should show his business plan to the bank.
The procedure which he needs to take include:
Submitting his business plan.Checking his credit history/worthiness.Talk to the bank finance advisor about their loan plans and validity.What is a Loan?This refers to the money collected for the purpose of solving a need or making an investment in a business.
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What are the impact of SMEDAN on entrepreneurship
What is the definition of Institute of corporate Directors (ICD)
What are two issues you should look for while previewing a form letter?
spacing problems and paper quality problems
instances in which multiple sources are used and spacing problems
spacing problems and errors in recipient information
paper quality problems and errors in recipient information
its C
Answer:
spacing problems and paper quality problems
Payment received in advance for services is a/an
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense
Paying three months of rent in advance is an
example of a/an
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense
The adjusting entry to record accrued vacation at year-end would include a __________ to __________.
a. debit; Vacation Pay Expense
b. credit; Cash
c. debit; Vacation Pay Payable
d. credit; Vacation Pay Expense
Which of the following sentences uses the term ration correctly?
O The government decided to ration workers' pay, so everyone received a small pay increase.
O The ration was elected to a second term in office.
O Because we had so much extra food, we decided to ration it by giving it away to everyone we met.
O We had to ration the food to make it last the whole week.
Answer:
The last one.
We had to ration the food to make it last the whole week.
Explanation:
Look up the meaning of ration and it'll make sense.
An airline employee that is ensuring passengers have no difficulties with seating, meals, baggage, transfers, or rebookings is exhibiting which dimension of service quality?.
The airline that is ensuring passengers have no difficulties with boarding and onboarding process is exhibiting empathy dimension of service quality.
What is empathy?Empathy is a feeling which comes over the person when he or she is affected by something which has been experienced by another person who is feeling.
It is the ability to imagine how another person is feeling and so understand his/her mood by putting oneself in their shoes.
Hence, the airline that is ensuring passengers have no difficulties with boarding and onboarding process is exhibiting empathy dimension of service quality.
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As a team lead, Emilio has convened a group of five team members to solve an issue with the marketing campaign. This is an example of a(n)
Assuming Emilio has convened a group of five team members to solve an issue with the marketing campaign. This is an example of a(n): Leaderless Group Discussion.
What is Leaderless Group Discussion?
Leaderless Group Discussion can be defined as the way in which a group of people discuss and share opinion on important matters without a formal leadership.
Based on the given scenario Emilo is engaging in Leaderless Group Discussion due to the absence of a leader.
Inconclusion this is an example of a(n): Leaderless Group Discussion.
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Under the allowance method, when a specific account is written off.
Under the allowance method, when a specific account is written off, then the allowance account is debited and the accounts receivable account is credited.
What is Accounting?
This refers to the management and processing of financial records about economic entities in a well-documented form.
Hence, we can note that in accounting, under the allowance method, once a specific account is written off, then the allowance account is debited and the accounts receivable account is credited.
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Do imports threaten the jobs of people in the importing country?
Answer:
It depends upon what is imported.
If a chocolate making machine is imported, it will create jobs because the importer of the machine will employ people to make chocolates.
If chocolate is imported, it will threaten the jobs of people who are already engaged in making chocolates.
Not necessarily. In many cases it helps the manufacturing base here. For example, the wood used for fingerboard guitar manufacturing here in the U.S. is frequently imported from India. The type of wood is aesthetically pleasing and, I am told, has great sound quality. We import a lot of our aluminum as it isn’t very common here in the States. It makes for a lot of jobs here to have that aluminum imported. So, not necessarily. It could be a very good thing.
Norton Company has accounts receivable of $40,000 in its general ledger at July 31: During August, the following transactions occurred. Aug. 1 Added 1% finance charges to $13,000 of credit card balances for not paying within the 30 day grace period. 15 Sold $21,000 of accounts receivable to Iron Factors Inc. who charge a 4% commission. 28 Collected $8,000 from Norton credit card customers which included $400 of finance charges previously billed.
Required:
a. Journalize the transactions.
b. Indicate the statement presentation of finance and service charges.
1.The journal entries to record the transactions of Norton Company during August are as follows:
Aug. 1 Debit Interest Receivable $130
Credit Interest Revenue $130
Aug. 15 Debit Accounts Receivable (Iron Factors Inc.) $20,160
Debit Sales Commission $840
Credit Sales Revenue $21,000
4% commission.
Aug. 28 Debit Cash $8,000
Credit Accounts Receivable (Norton credit card) $7,600
Credit Interest Receivable $400
2. The statement presentation of finance and service charges is as follows:
Income Statement:Interest revenue $130 (Credit)
Sales commission $840 (Debit)
Data and Calculations:Accounts receivable at July 31 = $40,000
Transactions:Aug. 1 1% finance charges to $13,000 = $130 ($13,000 x 1%)
Aug. 1 Interest Receivable $130 Interest Revenue (finance charges) $130
Aug. 15 Accounts Receivable (Iron Factors Inc.) $20,160 Sales Commission $840 Sales Revenue $21,000
4% commission.
Aug. 28 Cash $8,000 Accounts Receivable (Norton credit card) $7,600 Interest Receivable $400
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The Purchase and sales agreement provides for release of earnest money to the seller after the buyer's property inspection. The seller requests the earnest money prior to the property inspection. The broker should *
The broker should refuse to release the earnest money even after the seller requested the earnest money prior to the property inspection.
What is earnest money?Earnest money refers to the deposit paid by a buyer to a seller, reflecting the good faith of a buyer in purchasing a home.
It is the money paid to a merchant or seller to complete a contract or money paid to a merchant / seller to show good faith in the transaction.
Hence, the broker should refuse to release the earnest money even after the seller requested the earnest money prior to the property inspection.
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Employees and customers are treated like a family at Rahal Realty. Fadil and Inas Rahal, the owners, work to encourage unity to increase their employees' job satisfaction and commitment. At their realty, the Rahals have built a(n) ________ culture.
The type of culture that Rahals built was clan culture, when the owners, work to encourage unity to increase their employees' job satisfaction and commitment.
What is clan culture?A clan culture can be regarded as a tribe-like type of corporate environment which believe in
commonality of goals and values.
Clan cultures usually appears as collaborative and the least competitive of the main corporate culture models.
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How does a perfectly competitive firm decide what price to charge?
A. The same way as firms in a monopolistically competitive firm
B. the market price
C. the total cost of doing business
D. It adds up costs and profit requirments
Answer:
How does a perfectly competitive firm decide what price to charge?
A. The same way as firms in a monopolistically competitive firm
B. the market price
C. the total cost of doing business
D. It adds up costs and profit requirments
The market basket used to calculate the CPI is revised monthly to more accurately depict consumers' choices. The price data for the CPI are collected every month." Are the previous sentences true or false?
Answer:
False
Explanation:
approximately every ten years
CPI revises the quantities of items consumed in its basket of goods and services approximately every ten years
blsgov
In which situation would a person pay a higher property tax than he or she did
the year before?
O A. The value of the person's home increased.
B. The amount the person spent on electronics increased.
O c. The number of dependents the person had increased.
O D. The salary the person earned increased.
Helppp
Answer:
The answer is A: The value of the person's home increased.
Explanation:
Keywords here are property tax indicating that the answer would most likely mention a piece of land or a house.
Which of the following characteristics is associated with a general ledger?
a.)
This is also known as the original book of entry.
b.)
If it is May, then the accounting transactions for February, March, April and May are listed.
c.)
It is categorized by account.
d.)
It is the initial documentation of a financial transaction as it originates.
Answer:
c.)
It is categorized by account.
Explanation:
The feature associated with a general ledger is that It is categorized by account. Thus, option C is correct.
What is general ledger?Account numbers used to identify different sorts of financial transactions are known as General Ledger Accounts (GLs). Revenues, costs, and transfers are the most widely utilized GLs. A "chart of accounts" is a detailed list of all the accounts in an accounting system.
Characteristics of a Ledger Account are stated as follows:-
A Ledger book is an Accounts book in which various business transactions are recorded under various accounts.It employs the double-entry method.It is also referred to as the Principal book of Account, since it is the book where transactions are finalized after the journal or all-purpose books.All forms of Accounts pertaining to assets, liabilities, capital, and revenue are stored in the Ledger.It is the sole record of a business transaction that has been categorized into relevant Accounts.It makes future financial summary preparation easier.Therefore, option C is correct.
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the cost of sunflower seeds has increased. sunflower seeds are an input when sunflowers are produced. explain how this change will affect the market for sunflowers.
A certificate that authorizes an employer to withhold federal income taxes from each employee is called a Form
a. W-2.
b. 1040.
c. W-4.
d. 1040EZ.
1. Select ONE of the following (a through g).
a. A professional sports team
b. A gaming system company
c. An airline company
d. A consumer retail store
e. An automobile company
f. A computer company
2. Select a specific example of that category. For example, if you chose “a professional sports team,” you could select one of the following: Giants, Jets, Mets, Nets, Yankees, etc. Indicate the specific example you selected:
American AirLines
3. Analyze the external organizational environment for your choice. Identify at least TWO and preferably THREE aspects of EACH of the following that your choice must consider:
a. General environment
i. International dimension
1.American Airlines is the largest airline in 2020.
2. American Airlines traveled 240 destinations in the U.S, Canada,
The Caribbean and Mexico.
3.American airlines headquarters is in dallas fort worth.
ii. Technological dimension
1.Electronic wallet
2. Mobile ID
3.Virtual Assistant
iii. Sociocultural dimension
1.Ethics and human rights(provide the director with a report for unethic)
2.Sustainability and climate change
3.Give customer a great experience
(continued)
iv. Economic dimension
1.Boarding with 1 carry on & one personal item.
2.AAdvantage credit card member.
v. Legal-political dimension
b. Task environment
i. Customers
ii. Competitors
iii. Suppliers
iv. Labor market
(continued)
4. Conduct a situation analysis using a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that assesses the environment for your selected organization.
A SWOT analysis is categorizing the information that you gathered in the environmental analysis that you performed in the first half of this case. Some of the information you listed may not qualify as a strength, weakness, opportunity, or threat, however – it may be neutral. You should have at least TWO items EACH for strengths, weaknesses, opportunities, and threats and preferably THREE aspects for at least two of these.
Positive Negative
Internal Strengths:
Weaknesses:
External Opportunities:
Threats:
Answer:
a
Explanation:
i got it right