What is meant by accounting

Answers

Answer 1

Answer:

accounting is a process of analysis and summarising business and financial transactions and verifying the reporting the results...

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Related Questions

What was Joy’s first invention? What did she wish her parents had done with it originally to make it successful?

Answers

The first invention that Joy had to her name was a dog collar.

Her wish was that her parents had patented the collar and gotten a lawyer to make it successful.

Who is Joy Mangano?

Joy Mangano is an inventor that has many patents to her name. Her first invention was a type of dog collar which had a quick release.

For it to have been successful, she wishes that her parents her got a lawyer and patented her design so that they would have produced the collar and profited from it.

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How does KARLEE provide a vertically integrated range of services that support customers from initial component design to a finished, assembled product?

a. Advanced design engineering support
b. Lack of value-added assembly
c. No prototype production
d. No manufacturing

Answers

Karlee provided a vertically integrated range of services that support customers by using A. Advanced design engineering support.

What is vertical integration?

It should be noted that vertical integration simply means a process that involves acquiring business operations towards identical production.

In this case, Karlee provided a vertically integrated range of services that support customers by using advanced design engineering support.

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Supremewriters247.us is the only trusted American Writing Company when it comes to the writing of custom essays, dissertations, term papers, research papers, ...

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etc

They answer is etc

match the scenario to the type of mental health issue described ?.

Answers

the scenario to the type of mental health issue described

and then you have to explain it and make sure you think of your response if you want to know your answer you gotta work hard on your research so it helps you understand

Hill Corporation Ltd., an Internet service provider, has been providing networking solutions to Riverdale High School for over a year. However, recently the administration at Riverdale high School has been complaining of an unstable connection. You are employed by Hill Corporation for the purpose of inspecting the issue at hand. Required:
What would be your first check point to ensure that there are no network issues from the service provider's end?

Answers

In order to ensure that there are no network issues from the Internet service provider's (ISPs) end, your first check point should be the main distribution frame (MDF).

What is main distribution frame (MDF)?

Main distribution frame (MDF) can be defined as a cable rack or signal distribution frame that serves as the primary hub for connecting network equipment between Internet service provider (ISP) and the subscriber carrier equipment.

As a network administrator, you should ensure that there are no network issues from the Internet service provider's (ISPs) end, by first checking the main distribution frame (MDF).

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Sara enters into a contract to sell her vacation condo to Ted for a certain price on a specific day. On that day, Sara unconditionally offers to perform. Sara’s offer

Answers

The fact that Sara unconditionally offered to perform according to the contract that she entered into with Ted b. constitutes tender of performance.

What is a tender of performance?

A Tender of Performance is the requirement that a person ought to do as a result of them being in a contract, or the law ordering them to do so.

Sara performed her side of the contract which means that she performed her tender of performance according to the terms of the contract with Ted.

Options for this question include:
a. conditions Ted's promise to pay for the property.

b. constitutes tender of performance.

c. excuses the parties' performance under the contract.

d. suspends the parties' contractual obligations.

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Yessica is an exchange student from Spain. She is currently studying at a college in Maryland.
Yessica's primary language is Spanish. Yessica is most likely to experience what type of
common communication barrier?

A) Lack of honesty
B) perception
C) language
D) information medium

Answers

The communication barrier Yessica is likely to face as an exchange student from Spain is language.

What is a communication barrier?

Communication barrier is a thing or a factor that stands in the way of effective communication. Yessica is from Spain and she is studying in Maryland. In Spain, Spanish is spoken and in Mayland, English is spoken, thus there is a difference in language and this would stand in the way of effective communciation.

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Consider a single period problem where the riskless interest rate is zero, and there are no taxes. A firm consists of a machine that will produce cash flows of $210 if the economy is good and $80 if the economy is bad. The good and bad states occur with equal probability and the covariance of these states with the market portfolio is zero (no systematic risk). Initially, the firm has 100 shares outstanding and debt with a face value of $50 due at the end of the period. What is the share price of the firm

Answers

Assuming the firm has 100 shares outstanding and debt with a face value of $50 due at the end of the period. The share price of the firm is $0.95.

Share price

First step is to calculate the expected payoff to equity

Expected equity=[($80 ×0.5) + ($210 × 0.5)]-$50

Expected equity=($40+$105)-$50

Expected equity = $145-$50

Expected equity=$95

Now let calculate the share price

Share price=$96/100 shares

Share price=$0.95

Inconclusion the share price of the firm is $0.95.

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ABC has revenues of $22 million and expenses of $15 million. XYZ has revenues of $150 million and expenses of $110 million. Can you determine which company is more efficient from these income statements

Answers

Based on the data given on the revenues and expenses of both companies, the company that is more efficient is ABC.

Which company is more efficient?

The company that is more efficient is the one with a higher Net profit margin.

ABC Net profit margin:

= (Revenues - Expenses) / Revenues x 100%

= (22 - 15) / 22

= 32%

XYZ Net profit margin:

= (150 - 110) / 150

= 27%

Company ABC is therefore more efficient.

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The fixed budget indicates direct labor costs of $27,500. Actual direct labor costs were $27,000. The variance is:

Answers

Based on the information given the variance is $500 favorable.


Variance

Using this formula

Variance=Fixed Direct labor cost-Actual direct labor cost

Where:

Fixed Direct labor cost=$27,500

Actual direct labor cost=$27,000

Let plug in the formula

Variance=$27,500-$27,000

Variance=$500 favorable

Inconclusion  the variance is $500 favorable.

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Assume that as part of Hilton’s interview process, the company asks applicants how they would behave in hypothetical, hospitality-related job situations. This would be considered a ________ interview, which is ________.

Answers

The interview in Hilton's process would be considered a situational interview, which is structured.

What is a situational interview?

This is a type of interview where the people that are being interviewed are asked hypothetical questions.

The questions that they are asked is usually to get to know how they would behave in given situations.

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Park Corporation is planning to issue bonds with a face value of $2,100,000 and a coupon rate of 9 percent. The bonds mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a premium account. Assume an annual market rate of interest of 7.5 percent. Required:
a. Prepare the journal entry to record the issuance of the bonds.
b. Prepare the journal entry to record the interest payment on June 30 of this year.
c. How will Park present its bonds on its June 30 balance sheet?

Answers

a.The journal entry to record the issuance of the bonds. Debit : Cash $677,135 and Credit : Bond Payable $677,135

b.The journal entry to record the interest payment on June 30 of this year. Debit : Bond Payable $43,715 ; Debit : Interest Charge $50,785 ;  Credit : Cash $94,500

c.Presentation of bonds on June 30 balance sheet . Non - Current Liabilities : Bond Payable $633,420

Issuance of the bonds

Since Park Corporation is paying 7.5 percent ( Market Rate) compared to the coupon 9 percent, the Bonds will be issued at a discount. The amount recognized at issuance will be the Present Value of $677,135.

Determined as follows :

FV = $2,100,000

Pmt = ($2,100,000 x 9 %) / 2 = $94,500

N = 10 x 2 = 20

i = 7.5 %

PV = $677,135

Interest Payment

Since the effective-interest amortization method is used, the interest is calculated as follows :

Interest Charge = Present Value x Interest rate

                           = $677,135  x 7.5 %

                           = $50,785

Bonds Payable Presented on Financial Satement

Bond Payable = Present Value - ( Cash Payment - Interest charge)

                        = $677,135 - (94,500 - 50,785)

                        = $633,420

In conclusion, Since Park Corporation is paying 7.5 percent ( Market Rate) compared to the coupon 9 percent, the Bonds will be issued at a discount of $677,135

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Which consumer protection law requires that products be free of defects when sold?
a. used car rule
b. uniform commercial code
c. bill of consumer rights
d. credit card accountability, responsibility, and disclosure act

Answers

The  uniform commercial code is a law that requires that products are free of defects when  they are sold.

What is the  uniform commercial code?

This is a term, that is used to refer to all of the commercial laws that are used to apply to the buying and the selling of goods in the US.

The law protects customers in such a way that the products are free of defects when they buy. The products can also be returned if they are not.

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The consumer protection law that requires that products be free of defects when sold is the b. uniform commercial code

What is Consumer Protection Laws?

This refers to those laws put in place in order to protect the customer from unethical practices of business owners.

Hence, we can note that the uniform commercial code is the consumer protection law that requires that products be free of defects when sold so that the customers can get the maximum value for the products.

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Which of the following education levels offer a shop class in industrial arts?

A: High school program
B: Associate program
C: Bachelor's program
D: Doctoral program

Answers

Answer:

B. Associate program

Explanation:

Correct me if I'm wrong

Associate program offers a shop class in industrial arts. Thus, option B is correct.

What is industrial Arts?

An educational program called industrial arts emphasizes the creation of wooden or metal things utilizing a variety of hand, power, and machine tools. Commonly referred to as technology education, industrial arts. Small engine repair and car maintenance are possible, and technical drawing is typically covered in all programs' curricula.

The phrase "industrial arts" was first used in education in 1904 by Charles R. Richards of Teachers College, Columbia University in New York, who proposed it as a replacement for physical labor. Industrial arts lessons, also referred to as "shop class" in the US, introduce kids to the fundamentals of house maintenance, physical labor, and machine safety. The majority of industrial arts programs were developed in general rather than specific trade schools.

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scarcity forces people to

Answers

Answer:

Because we don't have enough resources to provide all of the goods/services in the quantities that are wanted, scarcity forces us to make decisions about which goods/services we value higher.

Explanation:

Answer:

make choices

Explanation:

Scarcity forces all of us to make choices by making us decide which options are most important to us. The principle of scarcity states that there are limited goods and services for unlimited wants.

Which type of store has high sales volume, shallow product lines, little service, and prices that are lower than supermarkets

Answers

The type of store that has high sales volume, shallow product lines, little service, and prices that are lower than supermarkets is known as discount stores.

What is a Discount Store?

This refers to the type of store which makes a bulk purchase of items and then sells them off at a lower price than they are worth.

Hence, we can note that a discount store operates in a way that enables them to engage in efficient distribution and bulk purchasing to meet the needs of their customers.

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Due to a downturn the wage of entry level workers has declined by 10 per cent, as a
result 100 entry-level workers get jobs and around 30 senior workers (15 %) would be
laid off.
(a) (5 points) Calculate the cross elasticity of demand for senior workers? Are senior
workers and entry-level workers gross complements or gross substitutes?
(b) (7 points) Which effect dominates in our example: substitution or scale effect?
How?
(c) (6 points) How would the demand curve for senior workers change if the wage paid
to entry-level workers rises?

Answers

The cross elasticity of demand for senior workers is 1.5. Senior workers and entry-level workers are gross complements.

The scale effect dominates in this example.

If the wage of the entry level workers increase, the demand curve would shift to the right.

What is the crosss price elasticity?

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

Cross price elasticity = 15% / 10 = 1.5

Complement goods are goods or resources that are used together. As a result of the decline in wages, senior workers would be laid off. This means that senior workers and entry level workers work together.

What is the effect on the demand curve if the wages of entry level workers increase?

If the wage of the entry level workers increase, the demand for senior workers wouuld increase. This would lead to a shift to the right of the demand curve for senior workers.

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Using budgeting assumptions when preparing the master budget, ______.

Answers

Answer:

makes it easier to answer "what-if" questions

Explanation:

Agricultural managers need to possess which of the following skills?

A: The ability to start a business from scratch.
B: Understanding of the different kinds of economies in the world.
C: Vast knowledge of equipment, shipping, and storage of products.
D: A master's degree in business administration

Answers

vast knowledge of equipment, shipping,and storage of products.

what tool is most appropriate for applying spread on the bread?​

Answers

Answer:

A butter knife

Explanation:

Traditionally, people spread the spread on bread with a butter knife.

A university’s marketing department typically purchases backpacks with its logo embroidered on them for all incoming freshmen. This year, because faculty have heard complaints, the marketing chair wants to buy similar backpacks but find one that is a little more durable. This is an example of a
A) new buy.
B) make-buy.
C) straight rebuy.
D) standard reorder.
E) modified rebuy.

Answers

Hi I am not quite sure but I think it might be a i’m in middle school so don’t trust me on this one

Adah works in logistics for a manufacturing firm and manages inventories. Her managers want the organization to be more lean, but Adah knows that stockouts can lead to customer dissatisfaction. Thus, determining optimal reorder points is vital. If the usage rate of her current product is ten units per day, the order lead time is five days, and the safety stock is ten, what is the reorder point

Answers

The reorder point for Adah's Logistics Company is 60 units.

What is the reorder point?

The reorder point (ROP) is the specific level at which stock needs to be replenished to avoid customer dissatisfaction while achieving inventory leanness.

In other words, the reorder point is the point at which orders can be placed to replenish stock without encountering a stockout or overstocking.

The calculation of the reorder point is to multiply the average daily usage rate by the lead time in days, plus safety stock.

Data and Calculations:

Usage rate per day = 10 units

Lead time = 5 days

Safety stock = 10 units

Reorder point = 60 (10 x 5 + 10)

Thus, the reorder point for Adah's Logistics Company is 60 units.

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based on your experience discuss a real-life example where organization behaviour was very useful for you. then imagine and discuss what was to happen if organizational behaviour was not utilized in this situation

Answers

Answer: Okay don't copy this word for word, anything in Brakets change them.

Explanation:

I've experiened originizational behaivor when looking at my [Your choice].

It was useful because I didnt get confused when looking for [Object]!

If I couldnt find [object] I wouldnt be able to, [action]. If organization wasnt used in this [describing term] I wouldnt be able to find [object] and I would be very upset. I feel as if this behaivor should be used everywhere.

Now for the people who get indecisive!

I've experiened originizational behaivor when looking at my My desktop of my computer. It was useful because I didnt get confused when looking for My assignments! If I couldnt find my assignments I wouldnt be able to, brush up on some topics. If organization wasnt used in this case I wouldnt be able to find my work and I would be very upset. I feel as if this behaivor should be used everywhere.

Accrued Revenues are a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Accrued Expenses are a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Answers

Revenues - Asset
Expenses - Liability

What makes you feel like you are getting your money’s worth?

Answers

Answer:

When I save a lot of money

why language is an important of communication tools?

Answers

Answer:

Because Language is a communication tool used by everyone in their daily life as a means to convey information and arguments to others. Explanation:

Makes Sense.

Answer:

The effective communication is made possible with the help of language. Language employs a combination of words to communicate ideas in a meaningful way. By changing the word order in a sentence, you can change its meaning, and even make it meaningless.

On December 1, a company accepted a $5,000, 4%, 90-day note. How much accrued interest will be recorded as an adjusting entry on December 31, the end of the accounting period?

a. $166.67
b. $16.67
c. $1.67
d. $0.00; interest is not accrued at year-end

Answers

The accrued interest amount at the end of the accounting period is $16.67

HELP!! I’m suppose to match the words to the definitions!!

How you will differentiate the company from competitors?

Your mission statement?

Suppliers your company relies on to produce its products?

The amount of funding needed to start the company?

A description of your competitors?

Your advertising plan?

The financial history of the company?

A description of the needs and desires of your potential customers?

A description of the departments in the company?

-Market Analysis

-Competitive Analysis

-Organization

-Executive Summary

-Products and Services

-Financial Analysis

-Marketing and Sales

-Funding Request

-Goals and Strategy

Answers

Explanation:

HELP!! I’m suppose to match the words to the definitions!!

How you will differentiate the company from competitors?

Your mission statement?

Suppliers your company relies on to produce its products?

The amount of funding needed to start the company?

A description of your competitors?

Your advertising plan?

The financial history of the company?

A description of the needs and desires of your potential customers?

A description of the departments in the company?

-Market Analysis

-Competitive Analysis

-Organization

-Executive Summary

-Products and Services

-Financial Analysis

-Marketing and Sales

-Funding Request

-Goals and Strategy

How do companies effectively go global?

Answers

Answer:

Some of the specific advantages presented by successfully growing globally include:

•You can extend the sales life of existing products and services by finding new markets to sell them in.

•You can reduce your dependence on the markets you have developed in the United States.

and more....

Explanation:

hope it helps......

When is the advisable time to start building or adding to your own professional network?
Question 5 options:

a)

Upon graduation

b)

When you need a job

c)

Whenever you have time

d)

Right now

Answers

Answer:

A. Upon Graduation

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