The all involve agreements that cannot be performed within one year and therefore must be in writing to be enforceable under the statute of frauds.
Why will be an oral contract to lease an apartment for 11 months?The statute of frauds is a law that requires certain types of contracts to be in writing in order to be enforceable in court. The purpose of this law is to prevent fraudulent or deceitful practices by ensuring that contracts are clearly documented and agreed upon by all parties.
Under the statute of frauds, contracts for the sale of land, contracts that cannot be performed within one year, and contracts for the sale of goods over a certain dollar amount (as defined by the Uniform Commercial Code) must be in writing to be enforceable.
Based on this, the only option that is enforceable under the statute of frauds is "an oral contract to lease an apartment for 11 months." This is because it is a contract that can be performed within one year, and therefore does not fall under the statute of frauds.
The other options listed, including "an oral contract to lease an office building for 10 years," "an oral contract for the sale of land," and "an oral contract to buy mining rights,"
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the federal government has chosen the relative approach in defining poverty. (True or False)
True. the federal government has chosen the relative approach in defining poverty. This approach defines poverty in relation to the average income or standard of living in a particular society or country.
This means that poverty is not just about absolute income or material deprivation, but also about social exclusion and the inability to participate fully in society. The relative approach is considered a more holistic and comprehensive way of understanding poverty, as it takes into account the broader context in which people live and the social and economic structures that shape their opportunities and life chances. The federal government uses this approach to develop policies and programs aimed at reducing poverty and promoting greater social and economic inclusion for all Canadians. The federal government generally adopts a relative approach to defining poverty. This method takes into consideration the overall distribution of income and resources within a population, rather than using an absolute threshold that does not change with economic conditions. By using a relative approach, the federal government can better assess how the poverty line should be adjusted to account for changes in living standards and income distribution, allowing for more accurate and targeted assistance to those in need.
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Which method of developing a marketing communications budget uses computer simulations to model the relationship between advertising and marketing communications and sales, profits, and other factors?
A) meet the competition
B) objective and task
C) payout planning
D) quantitative models
The method of developing a marketing communications budget that uses computer simulations to model the relationship between advertising and marketing communications and sales, profits, and other factors is D) quantitative models.
This approach involves using statistical analysis and data modeling techniques to forecast the impact of various marketing communications strategies and tactics on business outcomes. It relies on sophisticated algorithms and mathematical models to identify the optimal mix of marketing activities that will achieve the desired results, such as increased sales or market share. This approach is particularly useful for companies that operate in highly competitive markets, where small differences in marketing effectiveness can have a significant impact on business performance.
By using quantitative models to inform marketing communications budgeting decisions, companies can make more informed and data-driven choices about how to allocate resources across different marketing channels and tactics, and optimize their overall marketing performance.
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(A) The following is the trial balance of Bestari Bhd. as at 30 April 2021: RM'000 RM'000 Inventories as at 1 May 2020 300
Carriage inwards 100
Carriage outwards 220
Development costs 200
Salaries 400
Travelling expenses by salesmen 90
General administrative expenses 250
Revenue and purchases2,600 4,190
Trade receivables and trade payables 970 400
Cash 80
Finance costs: interest on bank overdraft 10 Tax paid 130
Land 800
Motor van: Cost 500
Accumulated depreciation for motor van as at 1 May 2020 100
Equipment: Cost 600
Accumulated depreciation for equipment as at 1 May 2020 120
Allowance for doubtful debts as at 1 May 2020 20
Bank 50
Ordinary shares 1,300
7% Redeemable preference shares 700
General reserve 60
8% Debenture 200
Retained earnings 110
7,250 7,250
Additional information:
1. The inventories as at 30 April 2021 had been valued at cost of RM750,000. However, 20% of these inventories were obsolete, with the net realisable value estimated at RM120,000.
2. The company depreciates its equipment at 10% on cost and motor van at 20% per annum using the reducing balance method. Both depreciation charges are to be treated as Administrative expenses.
3. A piece of land was acquired during the year for RM200,000 and this amount had been included in the purchases amount.
4. The Development costs of RM200,000 are to be amortised over 4 years, and the amortisation charge is to be recognised as Administrative expenses.
5. An amount of RM70,000 owing by a customer had been deemed to be uncollectible. Allowance for doubtful debts is to be adjusted at 4% of the remaining receivables after deducting bad debts. It is the company’s policy to treat bad debts and allowance for doubtful debts as Distribution costs.
6. Both interest on debenture and dividend for redeemable preference shares for the year have not been recorded in the book as at 30 April 2021. Dividend for redeemable preference shares is to be classified as the Finance costs.
7. The estimated tax expense for the year ended 30 April 2021 is RM160,000.
Required:
Prepare the statement of profit or loss (by function) for Bestari Bhd. for the year ended 30 April 2021. Cost of sales, administrative expenses, distribution costs and finance costs to be prepared as part of your workings. (11 marks)
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The $300 in depreciation expense that was recorded in the accounting records corporation provide this. With relative amounts of $200, $2,200, and $500, the company's revenue streams comprise interest revenue, service revenue, and unearned money.
This implies that the business has diversified its revenue streams to bring in money from a variety of sources. Last but not least, the business has expenses for rent, salaries and wages, income tax, supplies, and travel, with balances of $500, $2,600, $200, $200, and $100, respectively.
These costs are what the business must pay to maintain its operations. Overall, Starbooks Corporation's accounting records show that it has sufficient cash on hand to cover its short-term obligations and has a variety of revenue streams to earn income from. The right response is The list of accounts and amounts recorded in Starbooks Corporation's accounting records provide information on the company's financial situation.
The $300 cash balance of the corporation shows that it has adequate cash on hand to pay its immediate liabilities. Additionally, the $300 balance of its accounts receivable indicates that it has unpaid invoices that are past due.
On the other hand, the business's $600 balance for accounts payable indicates that it owes money to its suppliers. Both the long-term and short-term notes payable for Starbooks Corporation have balances of $300 and $100, respectively.
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119. Off-the-job training techniques can include self-study, computer-based training, and role-playing. True False
True. Off-the-job training refers to any training activity that occurs outside of the workplace, and it can include a variety of techniques, such as self-study, computer-based training, and role-playing.
Self-study involves individuals learning on their own through reading books, articles, or other materials related to the topic they want to learn. This technique is useful for individuals who prefer to learn at their own pace or have limited time to attend training sessions.Computer-based training (CBT) involves using computers or other electronic devices to deliver training materials. This technique allows for interactive and engaging learning experiences that can be accessed at any time and from anywhere, making it an ideal option for remote or decentralized workforces.Role-playing is a technique that involves individuals acting out scenarios or situations relevant to their job role or industry. It allows individuals to practice and develop their skills in a safe and controlled environment, helping to improve their confidence and performance in real-life situations.Overall, these off-the-job training techniques are effective ways to provide individuals with the knowledge and skills they need to perform their jobs effectively, whether they are learning on their own, using technology, or practising in a simulated environment.
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Top management usually performs all of the following tasks EXCEPT:
A. establish long-range plans
B. review new product development
C. develop strategic plans
D. direct workers on the assembly line
E. formulate basic policies of operation
Top management usually performs all of the following tasks except direct workers on the assembly line content loaded.
Top management is responsible for establishing an organization's overall goals and strategies, developing plans and policies to achieve those goals, and ensuring that the organization's resources are used effectively and efficiently. They typically focus on high-level decision-making and have a broad view of the organization's operations, including reviewing new product development, formulating basic policies of operation, and developing strategic plans. However, direct supervision and management of workers on the assembly line is generally the responsibility of lower-level management, such as production or operations managers.
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when a final product is not moveable or transportable such as an office building or bridge, a(n)__________ layout must be used.
When a final product is not moveable or transportable such as an office building or bridge, a fixed-position layout must be used. This type of layout involves bringing all the necessary resources, equipment, and materials to the site where the product will be constructed.
The production process takes place on site and often involves a large number of workers and specialized equipment. The fixed-position layout is used in construction projects such as buildings, bridges, and highways, as well as for the production of large-scale items such as aircraft and ships. This layout can be challenging to manage due to the complexity of coordinating resources and workers, but it is essential for producing non-moveable products efficiently.
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During the housing bubble, banks and consumers both madeassumptions that1. housing prices would fall2. housing prices would rise3. housing prices would remain constant4. housing prices woukd fluc
During the housing bubble, banks and consumers both made assumptions that 2) housing prices would rise continuously. This led to excessive lending and borrowing, resulting in an inflated housing market.
However, these assumptions were not based on sound economic principles, and the housing bubble eventually burst. As a result, housing prices plummeted, leading to widespread foreclosures and financial losses.
In hindsight, it is clear that banks and consumers should have been more cautious in their assumptions about the housing market. They should have considered the possibility of housing prices falling or remaining constant, and should have made lending and borrowing decisions accordingly. This would have helped to prevent the housing bubble from forming in the first place, and would have reduced the severity of its impact when it eventually burst.
Overall, the housing bubble serves as a cautionary tale about the dangers of making assumptions without considering all of the possible outcomes. It is important for banks and consumers to be mindful of economic principles and to make informed decisions based on sound analysis.
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The stockholder of record is the person to whom the dividend check is made payable and mailed to on the (declaration/record/payment/ex-dividends) date
The correct term is record date.
The record date is the date set by a company's board of directors as the official date for determining which shareholders are entitled to receive dividends or other distributions.
On this date, the company will look at its records to determine who the shareholders of record are.
The stockholders of record are the shareholders who hold shares on the record date, and they will receive the dividend check or other distribution.
The declaration date is the date on which the company's board of directors announces its intention to pay a dividend, and the amount of the dividend is usually specified on this date.
The payment date is the date on which the actual dividend checks are mailed out or credited to shareholders' accounts.
The ex-dividend date is the date on which the stock begins trading without the right to receive the upcoming dividend. If an investor purchases a stock on or after the ex-dividend date, they will not receive the dividend.
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Sheridan Snowboarding Company, a public company, purchased equipment on January 10, 2017, for $660,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Sheridan uses the straight-line method of depreciation and has a December 31 year end.Sheridan tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment’s recoverable amount was $289,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000.What will appear on Sheridan's 2021 balance sheet with regard to this equipment?Sheridan Snowboarding CompanyBalance Sheet (Partial)Assets$Add/Less: 2. Assuming no further impairments or recoveries, calculate the annual depreciation expense for the years 2022 to 2024. (Round depreciation rate to 2 decimal places, e.g. 15.75 and final answers to 0 decimal places, e.g. 5,275.)Depreciation Expense2022 $2023 $2024 $
Assets Equipment (net of accumulated depreciation) $385,000 . The annual depreciation expense for the years 2022 to 2024 will be $34,875.
1. On Sheridan's 2021 balance sheet, the equipment will appear at its carrying value, which is calculated as follows:
Original cost of equipment: $660,000
Less: Accumulated depreciation (2021) = ($660,000 - $50,000) / 10 x 5 years = $275,000
Carrying value of equipment = $385,000
Therefore, the equipment will appear on Sheridan's 2021 balance sheet as follows:
2. To calculate the annual depreciation expense for the years 2022 to 2024, we first need to determine the new depreciable amount and the revised useful life of the equipment:
New depreciable amount = $289,000 - $10,000 = $279,000
Revised useful life = 8 years
Annual depreciation expense = Depreciable amount / Useful life
2022: $279,000 / 8 = $34,875
2023: $279,000 / 8 = $34,875
2024: $279,000 / 8 = $34,875
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The adjusted trial balance of Concord Cooper Co. as of December 31, 2017, contains the following.
CONCORD COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2017 Debit Credit
Cash 20,507 Accounts Receivable 7,955 Prepaid Rent 3,315 Equipment 19,085 Accumulated Depreciation-Equipment 5,930
Notes Payable 6,735
Accounts Payable 6,507
Common Stock 21,035
Retained Earnings 12,345
Dividends 4,035 Service Revenue 12,625
Salaries and Wages Expense 7,875 Rent Expense 2,182 Depreciation Expense 223 Interest Expense 161 Interest Payable 161
Total 65,338 65,338
Prepare a statement of retained earnings.
To prepare a statement of retained earnings for Concord Cooper Co. as of December 31, 2017, we need to adjust the beginning balance of retained earnings from the previous period for any changes in retained earnings during the current period, including dividends paid and net income earned.
The adjusted trial balance for Concord Cooper Co. as of December 31, 2017, provides the necessary information to prepare the statement of retained earnings. The statement starts with the beginning balance of retained earnings, which is $12,345 from the previous period. The dividends paid during the current period are subtracted from the beginning balance of retained earnings to get the adjusted beginning retained earnings. The net income earned during the year is calculated by subtracting the expenses incurred from the revenues earned. The resulting net income is added to the adjusted beginning balance of retained earnings to get the adjusted ending retained earnings. The statement of retained earnings shows the beginning retained earnings, less dividends, plus net income, equals the ending retained earnings. Keywords used in the explanation include adjusted trial balance, beginning balance, dividends, net income, expenses, and revenues.
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93.7% complete question the system administrator is installing a web server certificate and receives an error indicating the server does not accept wildcard certificates. after examining the certificate, the system admin notices the problem. determine the specific location where the admin found the problem.
Based on the information given, it appears that the issue is related to the use of wildcard certificates. Wildcard certificates are SSL/TLS certificates that use a single certificate to secure multiple subdomains.
These certificates are identified by the use of an asterisk (*) before the domain name, which indicates that the certificate is valid for all subdomains of the specified domain.
However, not all web servers support wildcard certificates, and this may cause issues when installing the certificate. Based on this, it is likely that the system administrator found the problem in the certificate itself, specifically in the use of a wildcard certificate.
They may have discovered this when attempting to install the certificate and receiving an error indicating that the server does not accept wildcard certificates.
To resolve the issue, the administrator may need to obtain a non-wildcard certificate or configure the server to support wildcard certificates.
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blossom company issues $4.3 million, 10-year, 7% bonds at 96, with interest payable on december 31. the straight-line method is used to amortize bond discount.Prepare the journal entry to record interest expense and bond discount amortization on December 31, 2017, assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Blossom company issues $4.3 million, 10-year, 7% bonds at 96, with interest payable on December 31. The journal entry will debit the cash account and discount on balance payable while credit the cash account.
The journal entry on 1st January will be:
Cash A/c Dr. 42,57,000
Disc on bonds payable Dr. 43,000
To BP 4,300,000
The journal entry on Dec 31 will be:
Interest expense Dr. 305,300
To Discount on bonds payable 4,300
To Cash $301,000
Discount on bond payable = $4,300,000 - ($4,300,000 × 99/100)/10
= $4,3000
Cash = (4,30,000 × 7) / 100
= $301,000
Interest expense = discount on bonds payable + cash
= 4,300 + 301,000
= 305,300
A discount on bonds payable is noted when bonds are issued at a price lower than their face value. This discount is subsequently amortized during the life of the bond, typically utilizing straight line amortization, in which the amortization of the bond discount is equal for each period that the discount is amortized.
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the sticky-price theory of the short-run aggregate supply curve says that if the price level rises by 5% while firms were expecting it to rise by 2%, then some firms with high menu costs will have question 10 options: higher than desired prices, which leads to an increase in the aggregate quantity of goods and services supplied. higher than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied. lower than desired prices, which leads to an increase in the aggregate quantity of goods and services supplied. lower than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
Some firms with high menu costs will have: higher than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
So, the correct answer is A.
What's sticky-price theory of the short-run aggregate supply curveThe sticky-price theory of the short-run aggregate supply curve suggests that if the price level rises by more than what firms were expecting, some firms with high menu costs may not be able to adjust their prices immediately.
As a result, they may end up with higher than desired prices. This can lead to a decrease in demand for their products and services, which can in turn lead to a decrease in the aggregate quantity of goods and services supplied.
Therefore, the correct option is: lower than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
This occurs because the higher prices make their goods and services less competitive in the market, leading to a reduction in demand for their products.
Consequently, the overall quantity of goods and services supplied in the economy decreases in the short run.
Hence the answer of the question is A.
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Suppose a panel of economists is predicting that a nation's real GDP per capita will have an average annual growth rate of 2%. Based upon the Rule of 70, how many years will it take for this nation's real GDP per capita to double?
A.
35
B.
70
C.
140
D.
20
E.
50
B. 70 years.
The Rule of 70 is a quick way to estimate the number of years it takes for a variable to double, given its annual growth rate. To apply the rule, simply divide 70 by the annual growth rate. In this case, 70 divided by 2 equals 35, so it would take 35 years for the nation's real GDP per capita to double.
The Rule of 70 is a mathematical shortcut that helps to estimate the doubling time of a variable based on its growth rate. It assumes that the growth rate is constant over time, and it is derived from the mathematical equation for exponential growth. The formula for the Rule of 70 is:
Number of years to double = 70 / annual growth rate
For example, if a country's GDP is growing at an annual rate of 3%, the Rule of 70 predicts that it will take approximately 23.3 years (70 / 3) for the GDP to double. The Rule of 70 is a useful tool for understanding the impact of compound growth over time, but it should be noted that it is an approximation and may not be accurate for all scenarios.
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What is the effect of recording depreciation expense on the accounting equation? (Check all that apply.)Total assets decrease.Total stockholders' equity decreases.
The effect of recording depreciation expense on the accounting equation is:
1. Total assets decrease
2. Total stockholders' equity decreases.
This is because depreciation is an expense that reduces the value of a company's fixed assets, such as buildings, machinery, and equipment.
When depreciation expense is recorded, it reduces the carrying value of the fixed asset, which in turn reduces total assets.
At the same time, the reduction in the carrying value of the fixed asset is reflected in a decrease in total stockholders' equity, since equity represents the residual value of the assets after liabilities have been paid.
Therefore, both total assets and total stockholders' equity are reduced when depreciation expense is recorded, which reflects the true economic impact of using fixed assets to generate revenue over time.
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Accounting information system in a computer environmentVisualisation tools have become a well-used tool amongst companies with substantial information lakes that want to sort and visualise it in an easy and understandable way...
The use of visualisation tools has become increasingly popular among companies with large amounts of data to sort through, especially in the context of an accounting information system in a computer environment.
These tools allow businesses to easily and effectively visualise and analyse their data, enabling them to identify patterns and trends that may not have been apparent through traditional data analysis methods. With the ability to quickly and easily access and understand their data, businesses can make more informed decisions and better manage their financial operations.
An Accounting Information System (AIS) in a computer environment refers to a digital framework that collects, processes, and reports financial data for businesses. These systems can integrate with visualization tools, which help companies with substantial information lakes to sort and display their financial data in an easily understandable way. Visualization tools enable businesses to analyze trends, patterns, and discrepancies in their financial records, thus supporting effective decision-making and improving overall financial management.
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What criteria should Nena use in evaluating the alternatives?
Nena needs to apply the SWOT analysis as her criterion. It makes it easier to comprehend the organization's advantages and disadvantages. It promotes the growth of strategic reasoning.
Using a SWOT analysis tool, you may identify the current strengths and weaknesses of your business and create a winning long-term plan.
SWOT analysis is a technique for identifying and analyzing internal strengths and weaknesses as well as external opportunities and threats that have an impact on present and future operations and aid in the formulation of strategic goals.
Not just for businesses, SWOT evaluations are used. SWOT analysis is a tool that people may use to set personal improvement objectives and participate in productive introspection.
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Complete question is,
What criteria should Nena use in evaluating the alternatives?
1. SWOT analysis
2. Ease of implementation.
3. Cost.
4. Ability to meet customer requirements.
The starting point that is studied in relation to the degree of change following a promotional campaign is called a:
A) post-hoc analysis
B) marginal analysis
C) benchmark measure
D) standardized measure
Benchmark measure is the starting point that is studied in relation to the degree of change following a promotional campaign. Option c is correct.
A benchmark measure is a baseline measure that is taken prior to the implementation of a promotional campaign. It provides a point of reference for evaluating the effectiveness of the campaign by measuring changes in performance or behavior after the campaign has been launched. For example, if a company wants to measure the impact of a new advertising campaign on sales, it may establish a benchmark measure of current sales levels before launching the campaign. After the campaign has been running for a period of time, the company can compare current sales levels to the benchmark measure to determine if the campaign has been successful in driving sales. Benchmark measures are important because they provide a way to measure the incremental impact of a promotional campaign over and above the normal performance of the business. They can also help to identify areas for improvement and optimization in future campaigns.
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North Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 1.600 units are planned to be solo in March. The variable selling and administrative expense is $4.70 per unit. The budgeted fixed selling and administrative expense is $35,660 per month which includes depreciation of $3.100 per month. The remainder of the fored selling and administrative expense represents current cash flows. Compute the cash disbursements for selling and administrative experies on the March selling and administrative expense budget. Show work. o
The cash disbursements for selling and administrative expenses on the March budget will be $43,180 - $3,100 = $40,080.
To calculate the cash disbursements for selling and administrative expenses on the March budget, we first need to calculate the total selling and administrative expenses for the month.
Variable selling and administrative expenses per unit = $4.70
Planned unit sales for March = 1,600
Variable selling and administrative expenses = $4.70 x 1,600 = $7,520
Fixed selling and administrative expenses = $35,660 (includes depreciation of $3,100)
Total selling and administrative expenses for March = Variable expenses + Fixed expenses
= $7,520 + $35,660
= $43,180
Since the question specifies that the remainder of the fixed selling and administrative expense represents current cash flows, we can assume that the $3,100 in depreciation is a non-cash expense and does not affect cash disbursements.
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_______ protect people from fraud, theft, and violence, while _____ are used to decide how we treat others responsibly according to society's views of right and wrong.
Laws protect people from fraud, theft, and violence, while ethics are used to decide how we treat others responsibly according to society's views of right and wrong.
Laws are rules that are enacted and enforced by a government or other authority, and are designed to protect individuals and society as a whole. They provide a framework for behavior and punish those who violate the rules. Laws can be enforced through a variety of mechanisms, including fines, imprisonment, and other legal sanctions.
Ethics, on the other hand, are principles or standards of behavior that guide individuals and organizations in making decisions and conducting themselves in a responsible and moral way. Ethics are not enforced through legal mechanisms, but rather through social norms and cultural values. Ethics can vary widely between different societies and cultures, and can evolve over time as society's views of right and wrong change.
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To balance the money coming in with that going out of the Social Security program by 2017:
In order to balance the money coming in with that going out of the Social Security program by 2017, there are a few options that can be explored.
One option is to increase the Social Security tax rate, which is currently set at 6.2% for employees and employers. This could be done by raising the rate or by increasing the maximum taxable earnings, which is currently set at $137,700 in 2020.
Another option is to raise the full retirement age, which is currently set at 67 for those born in 1960 or later. This means that individuals would need to work longer before becoming eligible for full Social Security benefits.
Additionally, changes could be made to the benefit formula, such as adjusting the way benefits are calculated or reducing benefits for higher earners.
It is important to note that any changes to the Social Security program must be made carefully and with consideration for those who rely on the program for their retirement income.
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Swifty Inc. purchases 380 units of an item at an invoice cost of $22,800.
(a) What is the cost per unit? (Round answer to 2 decimal places, e.g. 52.75.) Cost per unit $ eTextbook and Media Attempts: 60
(b) If the goods are shipped f.o.b. shipping point and the freight bill was $1,520, what is the cost per unit if Swifty Inc. pays the freight charges? 64
(c) If these items were bought on 3/10, n/30 terms and the invoice and the freight bill were paid within the 10-day period, what would be the cost per unit? (Round answer to 2 decimal places, e.g. 52.75.) Cost per unit $?
Swifty Inc. purchases 380 units of an item at an invoice cost of $22,800. cost per unit of units purchased is $60.00, freight charges of cost per unit are $64.00, and cost per unit with discount is $62.20.
(a) To find the cost per unit, we divide the total invoice cost by the number of units purchased:
Cost per unit = $22,800 / 380 = $60.00
Therefore, the cost per unit is $60.00.
(b) If Swifty Inc. pays the freight charges, we need to add the freight bill to the invoice cost and then divide it by the number of units:
Total cost = $22,800 + $1,520 = $24,320
Cost per unit = $24,320 / 380 = $64.00
Therefore, the cost per unit is $64.00.
(c) If the invoice and the freight bill were paid within 10 days, Swifty Inc. would be eligible for a discount. The discount terms are 3/10, n/30, which means they can take a 3% discount if they pay within 10 days, or they can pay the full amount within 30 days.
To find the cost per unit with the discount, we first need to calculate the discount amount:
Discount = 3% x $22,800 = $684.00
The amount Swifty Inc. would need to pay if they take the discount is:
Total cost - Discount = $22,800 - $684.00 = $22,116.00
Then we add the freight bill and divide it by the number of units:
Total cost = $22,116.00 + $1,520 = $23,636.00
Cost per unit = $23,636.00 / 380 = $62.20
Therefore, the cost per unit with the discount is $62.20.
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which of the following needs to be shown when considering a change in accounting principles? select answer from the options below the prospective effect of the change on liabilities the retroactive effect of the change on net income the cumulative effect of the change on retained earnings of the earliest year reported the current effect of the decrease in assets
When considering a change in accounting principles, the cumulative effect of the change on retained earnings of the earliest year reported needs to be shown.
Understanding accounting principlesA change in accounting principle requires retrospective application, meaning that the financial statements of prior periods need to be restated to reflect the new accounting principle.
The cumulative effect of this restatement on retained earnings of the earliest year reported needs to be disclosed.
The prospective effect of the change on liabilities and the current effect of the decrease in assets may also need to be disclosed, but the retroactive effect of the change on net income is already captured in the restated financial statements.
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Pinnacle Corp. budgeted $270,290 of overhead cost for the current year. Actual overhead costs for the year were $222,380. Pinnacle's plantwide allocation base, machine hours, was budgeted at 45,740 hours. Actual machine hours were 56,430. A total of 96,170 units was budgeted to be produced and 98,000 units were actually produced. Pinnacle's plantwide factory overhead rate for the current year is: Oa. $2.31 per machine hour Ob. $5.91 per machine hour Oc. $4.86 per machine hour Od. $2.81 per machine hour
Pinnacle's plantwide allocation base, machine hours, was budgeted at 45,740 hours. The closest option is d. $2.81 per machine hour.
Budgeted plantwide factory overhead rate = Budgeted overhead costs / Budgeted allocation base
Budgeted allocation base = Budgeted machine hours = 45,740 hours
Budgeted overhead costs = $270,290
Therefore,
Budgeted plantwide factory overhead rate = $270,290 / 45,740 hours = $5.91 per machine hour
However, we also need to take into account the actual machine hours and units produced, which were higher than budgeted. To calculate the actual overhead rate, we need to divide the actual overhead costs by the actual allocation base.
Actual allocation base = Actual machine hours = 56,430 hours
Actual overhead costs = $222,380
Therefore,
Actual plantwide factory overhead rate = Actual overhead costs / Actual allocation base
Actual plantwide factory overhead rate = $222,380 / 56,430 hours = $3.94 per machine hour
So, the answer is not one of the options given. The closest option is d. $2.81 per machine hour, but that is the budgeted rate, not the actual rate.
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trying to solve a problem with thinking that is not reasonable or critical will always result in a satisfactory outcome true or false?
Answer: False
Explanation: Trying to solve a problem with thinking that is not reasonable or critical is unlikely to result in a satisfactory outcome.
Trying to solve a problem with thinking that is not reasonable or critical will not always result in a satisfactory outcome. This statement is false. In fact, it may lead to an unsatisfactory outcome or even exacerbate the problem.
Reasonable and critical thinking involves evaluating evidence, considering different perspectives, and drawing logical conclusions.
It helps individuals to identify potential issues and consider alternative solutions.
In contrast, thinking that is not reasonable or critical may involve making assumptions or relying on incomplete information, which can lead to inaccurate conclusions or ineffective solutions.
Problem-solving requires careful consideration of the problem, analysis of potential solutions, and evaluation of their effectiveness.
This process requires critical thinking skills, such as identifying and analyzing assumptions, evaluating evidence, and considering multiple perspectives.
Without these skills, individuals may miss important details, fail to consider all relevant factors, or overlook potential solutions.
Additionally, problem-solving often involves complex and multifaceted issues that require careful consideration and evaluation.
Quick and impulsive thinking may result in overlooking important details, making hasty decisions, or failing to consider all relevant factors. In summary, reasonable and critical thinking is essential for effective problem-solving.
Without these skills, individuals may not be able to identify the root causes of problems, develop effective solutions, or evaluate their effectiveness. Thinking that is not reasonable or critical may lead to ineffective or unsatisfactory outcomes.
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33. All the following are off-the-job training techniques except:
A. vestibule training.
B. simulation.
C. apprenticeships.
D. self-study.
E. role-playing.
The term "off-the-job training" refers to various training methods that occur away from an employee's regular work environment. These techniques are designed to enhance skills and knowledge without interrupting daily tasks. To conclude, all the listed training techniques are off-the-job training methods except for option C, apprenticeships, which are on-the-job training methods.
Among the listed options, all except one can be considered off-the-job training techniques:
A. Vestibule training: This technique involves creating a separate training area that simulates the actual work environment, allowing employees to learn and practice new skills without interfering with ongoing operations.
B. Simulation: Simulation involves using computer-based or physical models to replicate real-life scenarios. Employees can learn and practice their skills in a controlled environment without risking mistakes in their actual work setting.
C. Apprenticeships: Apprenticeships are on-the-job training methods where a novice learns a trade or skill under the guidance of an experienced professional. This method takes place in the actual work environment, making it an exception in this list.
D. Self-study: Self-study refers to employees engaging in learning activities independently, often through books, online courses, or other resources. This method allows individuals to learn at their own pace and according to their preferences, without affecting their day-to-day work.
E. Role-playing: In role-playing exercises, employees act out various scenarios related to their jobs, allowing them to practice communication, problem-solving, and other skills in a safe and controlled setting.
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the resource conservation and recovery act of 1976 a. requires the epa to set standards for hazardous-waste management. b. requires all firms that handle more than 100 kilograms of hazardous waste per month to have a permit stating how such wastes are to be managed. c. provides guidelines and financial aid to establish state waste management programs. d. all of these answers e. none of these answers
The resource conservation and recovery act of 1976
requires the epa to set standards for hazardous-waste management. requires all firms that handle more than 100 kilograms of hazardous waste per month to have a permit stating how such wastes are to be managed. provides guidelines and financial aid to establish state waste management programs.So, the correct answer is D. all of these answers
What's The Resource Conservation and Recovery Act (RCRA)The Resource Conservation and Recovery Act (RCRA) of 1976 is a comprehensive environmental law that aims to protect human health and the environment from improper disposal of hazardous waste.
The act includes several key provisions:
a. It requires the EPA to set standards for hazardous waste management, ensuring that waste is handled in a safe and responsible manner.
b. Firms handling more than 100 kilograms of hazardous waste per month must obtain a permit detailing their waste management practices.
c. RCRA provides guidelines and financial aid to help establish state waste management programs, supporting states in their efforts to effectively manage waste.
In summary, the correct answer is d. All of these answers accurately describe the Resource Conservation and Recovery Act of 1976.
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tom's, inc., produces various mexican food products and sells them to western foods, a chain of grocery stores located in texas and new mexico. tom's, inc., makes two salsa products: western foods salsa and mexico city salsa. essentially, the two products have different blends of whole tomatoes, tomato sauce, and tomato paste. the western foods salsa is a blend of 50% whole tomatoes, 30% tomato sauce, and 20% tomato paste. the mexico city salsa, which has a thicker and chunkier consistency, consists of 70% whole tomatoes, 10% tomato sauce, and 20% tomato paste. each jar of salsa produced weighs 10 ounces. for the current production period, tom's, inc., can purchase up to 280 pounds of whole tomatoes, 130 pounds of tomato sauce, and 100 pounds of tomato paste; the price per pound for these ingredients is $0.96, $0.64, and $0.56, respectively. the cost of the spices and the other ingredients is approximately $0.10 per jar. tom's, inc., buys empty glass jars for $0.02 each, and labeling and filling costs are estimated to be $0.03 for each jar of salsa produced. tom's contract with western foods results in sales revenue of $1.64 for each jar of western foods salsa and $1.93 for each jar of mexico city salsa., What is the optimal solution, and what are the optimal production quantities? Specify the objective coefficient ranges. Round your answers to three decimal places. If there is no lower or upper limit, then enter the text "NA" as your answer.. What are the shadow prices for each constraint? Round your answers to three decimal places. Identify each of the right-hand-side ranges. If there is no lower or upper limit, then enter the text "NA" as your answer.
Specify the objective coefficient ranges. Round your answers to three decimal places. If there is no lower or upper limit, then enter the text "NA" as your answer.
Specify the objective coefficient ranges. Round your answers to three decimal places. If there is no lower or upper limit, then enter the text "NA" as your answer.
Interpretation of each shadow price: Whole tomatoes have a shadow price of 0.125, which means that if we add one pound of whole tomatoes, the value of the objective function would increase by $0.125.
The optimal solution and optimal production quantities are:
W = 560 jars of Western Foods Salsa
M = 240 jars of Mexico City Salsa
Profit = $860
Objective coefficient ranges:
Western Foods Salsa:
Lower limit = 0.893
Upper limit = 1.250
Mexico City Salsa:
Lower limit = 1.000
Upper limit = 1.400
Shadow prices for each constraint:
Whole tomatoes: 0.125
Tomato sauce: 0.000
Tomato paste: 0.188
Interpretation of each shadow price:
Whole tomatoes have a shadow price of 0.125, which means that if we add one pound of whole tomatoes, the value of the objective function would increase by $0.125.
Tomato sauce has a shadow price of 0, which means that if we add one pound of tomato sauce, the value of the objective function would not change.
Tomato paste has a shadow price of 0.188, which means that if we add one pound of tomato paste, the value of the objective function would increase by $0.188.
Constraints with a shadow price of 0 means that increasing the constraint will not affect the objective function's value.
Right-hand-side ranges:
Whole tomatoes:
Lower limit = 4320
Upper limit = 5600
Tomato sauce:
Lower limit = NA
Upper limit = NA
Tomato paste:
Lower limit = 1280
Upper limit = 1640
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Complete question:
Tom's, Inc., produces various Mexican food products and sells them to Western Foods, a chain of grocery stores located in Texas and New Mexico. Tom's, Inc., makes two salsa products: Western Foods Salsa and Mexico City Salsa. Essentially, the two products have different blends of whole tomatoes, tomato sauce, and tomato paste. The Western Foods Salsa is a blend of 50% whole tomatoes, 30% tomato sauce, and 20% tomato paste. The Mexico City Salsa, which has a thicker and chunkier consistency, consists of 70% whole tomatoes, 10% tomato sauce, and 20% tomato paste. Each jar of salsa produced weighs 10 ounces. For the current production period, Tom's, Inc., can purchase up to 280 pounds of whole tomatoes, 130 pounds of tomato sauce, and 100 pounds of tomato paste; the price per pound for these ingredients is $0.96, $0.64, and $0.56, respectively. The cost of the spices and the other ingredients is approximately $0.10 per jar. Tom's, Inc., buys empty glass jars for $0.02 each, and labeling and filling costs are estimated to be $0.03 for each jar of salsa produced. Tom's contract with Western Foods results in sales revenue of $1.64 for each jar of Western Foods Salsa and $1.93 for each jar of Mexico City Salsa.
Letting
W = jars of Western Foods Salsa
M = jars of Mexico City Salsa
leads to the following formulation:
Max 1W + 1.25M
s.t.
5W + 7M ? 4480 Whole tomatoes
3W + 1M ? 2080 Tomato sauce
2W + 2M ? 1600 Tomato paste
W, M ? 0
The sensitivity report is shown in figure below.
Optimal Objective Value = 860.00000
Variable Value Reduced Cost
W 560.00000 0.00000
M 240.00000 0.00000
Constraint Slack/Surplus Dual Value
1 0.00000 0.12500
2 160.00000 0.00000
3 0.00000 0.18750
Variable Objective
Coefficient
Allowable
Increase
Allowable
Decrease
W 1.00000 0.25000 0.10714
M 1.25000 0.15000 0.25000
Constraint RHS
Value
Allowable
Increase
Allowable
Decrease
1 4480.00000 1120.00000 160.00000
2 2080.00000 Infinite 160.00000
3 1600.00000 40.00000 320.00000
What is the optimal solution, and what are the optimal production quantities?
W
M
Profit $
Specify the objective coefficient ranges. Round your answers to three decimal places. If there is no lower or upper limit, then enter the text "NA" as your answer.
Variable Objective Coefficient Range
lower limit Upper limit
Western Foods Salsa
Mexico City
What are the shadow prices for each constraint? Round your answers to three decimal places.
Constraint Shadow Price
Whole tomatoes
Tomato sauce
Tomato paste
Interpret each shadow price.
The shadow price is the value that the will change by if you increase the constraint by one unit.
Whole tomatoes have a shadow price of which means that if we add one pound of whole tomatoes the value of the objective function would .
Tomato sauce has a shadow price of which means that if we add one pound of tomato sauce the value of the objective function would .
Tomato paste has a shadow price of which means that if we add one pound of tomato paste the value of the objective function would .
Constraints with a shadow price of 0 means that .
Identify each of the right-hand-side ranges. If there is no lower or upper limit, then enter the text "NA" as your answer.
Constraint Right-Hand-Side Rang
lower limit upper limit
Whole tomatoes
Tomato sauce
Tomato paste
Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 60 percent of their fees in the month the service is provided. In the month following service, Paul collects 35 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 85 percent is used in the month of purchase, and the remainder is used in the month following purchase.
The following information is available for the months of June, July, and August, which are Paul’s busiest months:
• June 1 cash balance $17,200.
• June 1 supplies on hand $4,800.
• June 1 accounts receivable $9,900.
• June 1 accounts payable $4,700.
• Estimated sales for June, July, and August are $29,700, $44,600, and $47,900, respectively.
• Sales during May were $28,100, and sales during April were $19,900.
• Estimated purchases for June, July, and August are $10,800, $20,800, and $15,000, respectively.
• Purchases in May were $5,900.
Required :
1. Compute budgeted cash receipts and budgeted cash payments for each month
2. Compute the balances necessary to prepare a budgeted sheet for august 31 for each of the following accounts :
Budgeted cash receipts: June: $20,770,July: $37,930, August: $43,120
Balances necessary for a budgeted sheet on August 31:
Cash: $35,260 Supplies on Hand: $4,670 Accounts Receivable: $17,870
Accounts Payable: $8,820
Budgeted Cash Receipts and Payments:
a. June:
Budgeted Cash Receipts:
60% of June Sales = 60% * $29,700 = $17,820
35% of May Sales = 35% * $28,100 = $9,835
5% of April Sales = 5% * $19,900 = $995
Total Budgeted Cash Receipts = $17,820 + $9,835 + $995 = $28,650
Budgeted Cash Payments:
Purchases for May = $5,900 (50% payment)
Supplies used in May = 85% * $4,800 = $4,080
Rent, Utilities, Wages and other expenses = $8,200
Total Budgeted Cash Payments = $5,900 + $4,080 + $8,200 = $18,180
Ending Cash Balance = June 1 Cash Balance + (Total Budgeted Cash Receipts - Total Budgeted Cash Payments)
= $17,200 + ($28,650 - $18,180) = $27,670
b. July:
Budgeted Cash Receipts:
60% of July Sales = 60% * $44,600 = $26,760
35% of June Sales = 35% * $29,700 = $10,395
5% of May Sales = 5% * $28,100 = $1,405
Total Budgeted Cash Receipts = $26,760 + $10,395 + $1,405 = $38,560
Budgeted Cash Payments:
Purchases for May = $5,900 (50% payment)
Purchases for June = $10,800 (50% payment)
Supplies used in June = 85% * $4,800 = $4,080
Rent, Utilities, Wages and other expenses = $8,200
Total Budgeted Cash Payments = $5,900 + $5,400 + $4,080 + $8,200 = $23,580
Ending Cash Balance = June 1 Cash Balance + (Total Budgeted Cash Receipts - Total Budgeted Cash Payments)
= $27,670 + ($38,560 - $23,580) = $42,650
c. August:
Budgeted Cash Receipts:
60% of August Sales = 60% * $47,900 = $28,740
35% of July Sales = 35% * $44,600 = $15,610
5% of June Sales = 5% * $29,700 = $1,485
Total Budgeted Cash Receipts = $28,740 + $15,610 + $1,485 = $45,835
Budgeted Cash Payments:
Purchases for May = $5,900 (50% payment)
Purchases for June = $10,800 (50% payment)
Purchases for July = $20,800 (50% payment)
Supplies used in July = 15% * $4,800 = $720
Rent, Utilities, Wages and other expenses = $8,200
Total Budgeted Cash Payments = $5,900 + $5,400 + $10,400 + $720 + $8,200 = $30,620 Ending Cash Balance
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1. () What is the current stock market valuation (i. E. , market capitalization) of Creative Computers and of Ubid based on the stock prices as of December 9, 1998? (ii) Evaluate these valuations with respect to the assets associated with these firms. Do the valuations of each seem reasonable? Explain your answer. If necessary, also explain quantitatively
The market capitalization of a company is calculated by multiplying its current stock price by the number of shares outstanding. This reflects the total value of the company as perceived by investors in the stock market.
The assets associated with a company, such as its physical assets, intellectual property, or cash reserves, can influence its stock price and market capitalization. Other factors that may also impact the valuation of a company include its earnings, revenue growth, market share, competition, and overall economic conditions.
Whether or not the market valuations of Creative Computers and Ubid based on their stock prices as of December 9, 1998, were reasonable would depend on a variety of factors beyond their assets, including investor sentiment, market trends, and other market and economic conditions at the time.
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