The features that is common to both perfectly competitive markets and monopolistically competitive markets is long-run profits are zero. The Option B is correct.
What is perfectly competitive market?The perfect competition in market occurs when all companies sell identical products, market share does not influence price, companies are able to enter or exit without barriers.
What is monopolistically competitive market?This is a market where many companies offer competing products or services that are similar, but not perfect substitutes. The barriers to entry in the industry are low, and the decisions of any one firm do not directly affect its competitors.
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If Producer A and Producer B are the only producers in the market, then the market quantity supplied when the price is $6 is:
If Producer A and Producer B are the only producers in the market, then the market quantity supplied when the price is $6 is: 18 Units
At the market price of $6 , the quantity supplied by the producer A = 6 units
At the market price of $6 , the quantity supplied by the producer B = 12 units
Market Quantity supplied at the price $6 ;
= 6 units +12 units
=18 units
A marketplace is a place where customers and sellers can meet to facilitate the change or transaction of products and offerings. Markets can be physical like a retail outlet, or digital like an e-store. different examples consist of unlawful markets, auction markets, and economic markets.
A market is defined as the sum total of all of the shoppers and dealers inside the location or region underneath attention. The place can be the earth, or countries, areas, states, or towns. The cost, price and rate of gadgets traded are as in keeping with forces of deliver and call for in a market.
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Prepare an amortization schedule that describes the pattern of interest revenue over the lease term for Bidwell Leasing. (Round your intermediate calculations to the nearest dollar amount.)
The lessee records a single amount of lease expenditure in its income statement, which is equal to interest expense plus amortization expense.
What Gives You an Amortization Example?
A business may spread out the expense of a patent throughout the course of its usefulness. Consider a scenario in which a corporation holds the sole rights to a patent for ten years with no option for renewal.
What does the term "debt amortization" mean?
The amount of principle and interest paid each month over the duration of your loan term is simply referred to as amortization. The majority of your payment goes toward interest at the start of a loan.
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Refer to the above graph. Ongoing inflation would occur if the Fed:group of answer choices O increased the money supply, causing ad to shift faster than technological progress shifts as. O increased the money supply, causing ad to shift as fast as technological progress shifts as. O increased the money supply, causing ad to shift slower than technological progress shifts as. O did not increase the money supply while technological progress is shifting as.
Ongoing inflation would occur if the Fed increased the money supply, causing ad to shift faster than technological progress shifts as. Supply chain problems, consistent demand, and energy uncertainties are some of the causes of high inflation.
In order to fight inflation, the Federal Reserve boosted interest rates. To avoid the detrimental effects of inflation, investors must be resourceful. According to Stanford economist John Taylor, inflation increases when the Federal Reserve sets an interest rate that is too low. In 2022, inflation is the one word that captures everyone's attention. Even though recent indications suggest the worst may be Supply chain , the Federal Reserve and average Americans are nonetheless very concerned about inflation.
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A borrower has two alternatives for a loan: (1) issue a $150,000, 45-day, 4% note or (2) issue a $150,000, 45-day note that the creditor discounts at 4%. Assume a 360-day year. a. Calculate the amount of the interest expense for each option. $ for each alternative. b. Determine the proceeds received by the borrower in each situation. (1) $150,000, 45-day, 4% interest-bearing note $ (2) $150,000, 45-day note discounted at 4% $ c. Alternative is more favorable to the borrower because the borrower
The proceeds received by the borrower in each situation, the Alternative 2 is more favouravle $149,250 proceeds.
A reduction crafted from the gross (see gross entry 1 feel 3b) amount or value of some thing: which include. a(1) : a reduction made from a regular or listing rate. providing clients a ten percentage bargain. purchase tickets at a reduction.
Reductions are discounts of the normal fee of a service or product that allows you to achieve or increase sales. these discounts—additionally commonly referred to as "income" or markdowns—are utilized in a huge variety of industries by using each outlets and manufacturers
Calculation:-
1) $150,000 * 4%*45/360 = $750 for each alternative
(1) $150,000 simple-interest note : $150,000 proceeds
(2) $150,000 discounted note : $150,000 - $750 = $149,250 proceeds
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When a good is taxed:
a. both buyers and sellers of the good are made worse off.
b. only buyers are made worse off, because they ultimately bear the burden of the tax.
c. only sellers are made worse off, because they ultimately bear the burden of the tax.
d. neither buyers nor sellers are made worse off, since tax revenue is used to provide goods and services that would otherwise not be provided in a market economy.
A) Both the consumers and the sellers of a goods pay when it is taxed. The correct reaction is this.
What is the name of the goods tax?taxes on consumption Consumption taxes are the popular name for taxes on goods and services. Value-added tax and retail sales taxes are two types of consumption taxes. When customers purchase things, a consumption tax is levied.
Why is merchandise taxed?On purchases of products, tax payers pay sales taxes. Through its purchases and provision of goods and services, the government has an impact on the economy. The basis of the economic growth of the country is roughly one-third of government spending.
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What is the purpose of tax incentives?
Answer:
Tax incentives are exceptions, credits, deductions, or exclusions that lower a business's tax obligation to the state or federal government in exchange for taking specific actions (e.g., reducing its environmental footprint, increasing health benefits for employees, supporting minorities, etc.).
Explanation:
As of 2006, compared with other industrialized democracies, the United States spent (blank) percent of its GDP on health.A. a largerB. about the sameC. a slightly lowerD. a much lowerE. an equal
As of 2006, compared with other industrialized democracies, the United States spent a larger percentage of its GDP on health.
In what ways have healthcare costs changed over time in the US?
In recent decades, expenditures on both public and private health have significantly increased. In 1987, the public sector accounted for just under one-third (32%) of all health expenditures. Half (51%) of all spending in 2020 was allocated to the public sector.
Over $4,000 more than any other high-income country, the U.S. spent $11,945 on health care per person in 2020. Comparable nations spend about half ($5,736) of what the U.S. does on health care per person.
Therefore, a larger percentage of its GDP is spent in the United States on health.
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Justin buys and sells items on the internet in order to make a profit. He also has a lawn mowing and snow plowing business. He has not filed papers with the state to formalize any of the businesses. Justin operates as a:
A)Partnership
B)Limited Liability Company
C)Sole proprietorship
D)Corporation
After analyzing the scenario, Justin operates as a Sole proprietorship. Thus, option C is the correct option.
A sole proprietorship is a type of business structure where a single individual owns and operates a business. It is the simplest and most common form of business ownership. In a sole proprietorship, there is no legal distinction between the owner and the business entity.
The owner retains all profits and assumes all liabilities and responsibilities for the business. This structure offers simplicity in terms of setup and decision-making, but the owner also has unlimited personal liability for the business's debts and obligations.
Thus, option C is the correct option.
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Network Industries, Inc., wants to monitor its employees' electronic communications. To avoid liability under laws related to employee monitoring, Network should __announce the monitoring to the company
False, To avoid liability under laws related to employee monitoring, Network should announce the monitoring to the employees.
How does electronic employee monitoring work?Electronic monitoring is the process of gathering data from computer, phone, camera, microphone, and other electronic devices regarding the communications and actions of employees. It's a technique for keeping an eye on workplace activity that a manager can't see or hear.
What law applies to the observation of employees?The bar for employee surveillance while preserving privacy is set by federal statutes like the ECPA. Without a good justification, businesses are not permitted to interfere with electronic communications. Furthermore, several states have laws governing employee consent and data protection.
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A system maintenance activity generated in response to changes in the business environment is referred to as corrective maintenance. a. true b. false.
A system maintenance activity generated in response to changes in the business environment is referred to as corrective maintenance false.
The making plans stage (additionally referred to as the feasibility stage) is precisely what it sounds like: the section wherein builders will plan for the approaching project. It facilitates to outline the hassle and scope of any present systems, in addition to decide the goals for his or her new systems.
In the Implementation section, coding is performed and the software program evolved is the enter for the following section i.e. checking out. In the checking out section, the evolved code is examined very well to discover the defects withinside the software program.
SaaS is a distribution version that can provide software program packages over the net; those packages are regularly referred to as net offerings. Users can get right of entry to SaaS packages and offerings from any vicinity the use of a laptop or cell tool that has net get right of entry to.
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Mach each element yo the correct part Of an effective essay attention-getting sentence DOD conclusion body introduction call to action specific details about topic
Question: Match each element to the correct part Of an effective essay
The attention-getting sentence is the very first sentence or a sentence close to the beginning of the introduction that grabs the reader's attention. Usually, they are surprising, interesting, or a question.
DOD (I do not know what dod is)
Conclusion – It finishes the essay and concludes it. It usually summarizes the essay's main points and leaves an impact with the reader. Usually, most readers only remember the conclusion of an essay, so it needs to be the so what of an effective essay. The reader needs to walk away having their so what question aswered.
Body – This is where all the information you are talking about should be. Normally, the paragraphs are composed of a topic then an example then an analysis then a conclusion.
Introduction – This is where you introduce your topics and how they fit together. The introduction should be the most engaging part of the essay to keep the readers focused on the essay.
Call to action – This is what you want your readers to do. Is your essay about pollution? Then the call to action might be something like having the readers pick up more trash. The call to action should be what your readers think or do after reading your essay.
Specific details about topic – They are what they are. They should be an analysis of the topic or something specific to the topic. Vagueness or ambiguity is frowned upon in most classes. Do not have information that is broad an can be applied to many other topics. The information should apply mostly, if not fully, to your topic.
Hope this helped! Please answer what is DOD and I may be able to help.
____ are complementary goods and services offered to casino patrons in order to attract their business.
Comps are complementary goods and services offered to casino patrons in order to attract their business.
In the field of business, the extra beneficiary services that are given by a casino to the visitors are referred to as comps.
In countries where the casino business is in trend, the competition for casino patrons is too high. Hence, the casino patrons give comps in order to attract customers and make them permanent visitors of the casino.
The Comps can be in any form such as offering a few drinks or a table to the visitors so that they gain interest in that particular casino.
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Eagle Sports Supply has the following financial statements. Assume that Eagle’s assets are proportional to its sales.
INCOME STATEMENT, 2019
Sales $ 950
Costs 250
Interest 50
Taxes 150
Net income $ 500
BALANCE SHEET, YEAR-END
2018 2019 2018 2019
Assets $ 2,700 $ 3,000 Debt $ 900 $ 1,000
Equity 1,800 2,000
Total $ 2,700 $ 3,000 Total $ 2,700 $ 3,000
a. What is the internal growth rate of Eagle Sports if the dividend payout ratio is fixed at 70% and the equity-to-asset ratio is fixed at 2/3?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
b. What is the sustainable growth rate?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
Eagle Sports Supply has the following financial statements. The sustainable growth rate is the highest rate of growth that a business or social enterprise may sustain without using more equity or debt to fund expansion is known as that of the sustainable growth rate (SGR). In other ways, it is also the rate with which the business may expand without borrowing money from other sources by using only its internal earnings.
What are the Financial Statements?Official records of a person's, a company's, or another entity's financial position and actions are called financial statements. The presentation of relevant financial data is done in a methodical manner and an easy-to-understand format.
The activities and financial success of a firm are detailed in financial statements. Government organizations, accounting companies, etc. frequently audit financial statements to guarantee accuracy and then for tax, financing, or investment purposes.
A company's financial health may be seen at a single glance thanks to the financial statements that reveal information about its operations, performance, and cash flow. Financial statements are essential since they provide information on a company's earnings, costs, profitability, or debt.
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At the end of 2016, Sheridan Company has accounts receivable of $665,400 and an allowance for doubtful accounts of $23,480. On January 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,415.
(a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off?
a) Journal entry of write off :
Date account titles and explanation debit credit
Allowance for doubtful accounts 4415
Account receivable 4415
(To record amount write off)
b) Calculate cash realizable value :
Before write off After write off
Account receivable 665400 (665400-4415)=660985
Less: Allowance for doubtful accounts (23480) (23480-4415) = (19065)
Cash realizable value 641920 641920
What is Cash realizable value?
The amount of cash left over after deducting the uncollectible amount from an account receivable is known as the cash realisable value. The balance of accounts receivable and the allowance for doubtful accounts on a company's balance sheet are combined to yield this net amount.
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acquisition on credit of merchandise, raw materials, plant assets, and office supplies are typically recorded in ____ .
Acquisition on credit of merchandise, raw materials, plant assets, and office supplies are typically recorded in payable account.
What is acquisition?A corporate transaction known as an acquisition takes place when one company buys and takes control of another company. Mergers and acquisitions (M&A), a professional path in corporate law or finance that focuses on the purchasing, selling, and consolidating of enterprises, are fundamentally comprised of these activities. An acquisition is a business transaction in which one firm pays another company money to purchase a company, an organisation, or its assets. . Instead, the purchasing corporation completely absorbs the purchased company. In some cases, this results in the liquidation of the purchased company.
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It is possible for an increase in minimum wage to increase the number of workers hired in a competitive labor market, but not in a monopsony setting. True False
It is possible for an increase in minimum wage to increase the number of workers hired in a competitive labor market, but not in a monopsony setting. False, it is possible for a Monopsony to hired more workers but the workers are hired at the same minimum wage as before the rise in minimum wages. A monopsony, as compared to a perfectly competitive firm, pays a lower wage and hires more labor.
What is a Monopsony?A labor market in which there is only one firm demanding labor is called a monopsony.
A monopsonist is the sole demander of the labor in the market, the monopsonist's demand for labor is the market demand for labor.
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Under the indirect method of preparing the operating section of the statement of cash flows, net cash provided by operating activities is $197,000. If the direct method of preparing the operating section of the statement of cash flows was used:
A) net cash provided by operating activities would be the same, $197,000.
B) net cash provided by operating activities would be more than $197,000.
C) net cash provided by operating activities would be less than $197,000.
D) net cash provided by financing and investing activities would equal $197,000.
If direct method of preparing the operating section of statement of cash flows was used, then : A) net cash provided by operating activities would be the same, $197,000.
What is meant by cash flow?The net balance of cash moving into and out of a business at a specific point in time is called cash flow. Cash is constantly moving in and out of a business, like for example, when any retailer purchases inventory, then money flows out of the business toward suppliers.
Cash flow from operations comprises of expenditures made as part of the ordinary course of operations. Examples of cash outflows are payroll, cost of goods sold, rent, and utilities. Cash outflows can vary when business operations are highly seasonal.
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qs 9-3 (algo) accounting for sales taxes lo c2 dextra computing sells merchandise for $4,000 cash on september 30 (cost of merchandise is $2,800). dextra collects 6% sales tax. record the entry for the $4,000 sale and its sales tax. also record the entry that shows dextra sending the sales tax on this sale to the government on october 15.
The total amount of sales taxes a company has gathered from clients on behalf of a governing tax authority is kept in an account called sales taxes payable, which is a liability.
Entry
Sep 30
Cash 4240
Sales 4000
Sales tax payable (4000*6%) 240
Sep 30
Cost of Goods Sold 2800
Inventory 2800
Oct 15
Sales tax payable 240
Cash 240
As the custodian of these monies, the company is responsible for timely remitting them to the government. If the company pays out a lot of sales taxes, the government probably expects them to be paid out once a month.
If the payment is very little, some governments let the payments to be transferred at significantly longer intervals, such as once every quarter or once a year.
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Calculating initial investment Vastine Medical, Inc., is considering replacing its existing computer system, which was purchased 2 years ago at a cost of $317,000. The system can be sold today for $191,000 . It is being depreciated using MACRS and a 5-year recovery period (see the table LOADING...). A new computer system will cost $498,000 to purchase and install. Replacement of the computer system would not involve any change in net working capital. Assume a 40% tax rate on ordinary income and capital gains. a. Calculate the book value of the existing computer system. b. Calculate the after-tax proceeds of its sale for $191,000 . c. Calculate the initial investment associated with the replacement project.
a) The calculation of the book value of the existing computer system for Vastine Medical, Inc. is $152,160.
b) The after-tax proceeds of the sale of the existing computer system for Vastine Medical, Inc. is $23,304.
c) The initial investment associated with the replacement project is $307,000.
What is the book value of an asset?The book value of an asset refers to the difference between the original cost and the accumulated depreciation.
The accumulated depreciation is the yearly depreciation added together for some periods.
When an asset is sold, the capital gains are computed on the difference between the sales proceeds and the book value.
Cost of computer system = $317,000
Accumulated depreciation after 2 years = $164,840 ($317,000 x 52%)
Book value after 2 years = $152,160 ($317,000 - $164,840)
Sales proceed = $191,000
Capital gains = $38,840 ($191,000 - $152,160)
Capital gains tax = $15,536 ($38,840 x 40%)
After-tax proceeds = $23,304 ($38,840 - $15,536)
The initial investment for the replacement project = $307,000 ($498,000 - $191,000)
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Question Completion:MACRS 5-year Declining Method:
Year Depreciation Rate
1 20%
2 32%
3 19.20%
4 11.52%
5 11.52%
6 5.76%
The firm is currently in the process of forecasting sales, asset requirements, and required funding for the coming year. In the year that just ended, Green Caterpillar Garden Supplies Inc. generated $350,000 net income on sales of $12,500,000. The firm expects sales to increase by 17% this coming year and also expects to maintain its long-run dividend payout ratio of 35%.Suppose Green Caterpillar Garden Supplies Inc.’s assets are fully utilized. Use the additional funds needed (AFN) equation to determine the increase in total assets that is necessary to support Green Caterpillar Garden Supplies Inc.’s expected sales. (Note: Do not round intermediate calculations.)$561,000$459,000$510,000$535,500
The increase in total assets necessary to support Green Caterpillar Garden Supplies Inc.'s expected sales is $14,152,500.
What are total assets?
Total assets refer to the total value of all the assets that a company owns. Assets are resources that are owned by a company and are expected to provide economic benefits to the company in the future.
To determine the increase in total assets that is necessary to support Green Caterpillar Garden Supplies Inc.'s expected sales, you can use the additional funds needed (AFN) equation. The AFN equation is used to calculate the amount of financing that a company needs to support its expected sales and maintain its desired level of dividends.
The AFN equation is:
AFN = Sales - Net Income - Dividends
In this case, Green Caterpillar Garden Supplies Inc. expects sales to increase by 17% this coming year, which means that the expected sales for the coming year will be $12,500,000 * 1.17 = $14,625,000.
The firm also expects to maintain its long-run dividend payout ratio of 35%, which means that the expected dividends for the coming year will be $350,000 * 0.35 = $122,500.
Plugging these values into the AFN equation, we get:
AFN = $14,625,000 - $350,000 - $122,500
= $14,152,500
Hence, the increase in total assets that is necessary to support Green Caterpillar Garden Supplies Inc.'s expected sales is $14,152,500. This is the amount of financing that the company needs to support its expected sales and maintain its desired level of dividends.
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1. Visit a Web site for a company that sells products online. Then go to that company's
corporate Web site. Compare the company's product sales site with its corporate site.
Describe at least 3 differences between them. (1-3 sentences. 3.0 points)
apply
The 3 differences between company's product sales site with its corporate site are:
The fact that "items and services push their products as the most prominent thing on the website, whereas the corporate website pushes their values and ethos as the most noticeable thing on their website," is one of the distinctions.The corporate website lacks areas or parts where customers can order or book things, whereas product or service websites do.The product and service websites lack this feature, however corporate websites have a part or area where a team member's job description is explained.What is the corporate Web site about?A corporate website is a website created to provide information about the goods, services, and history of an organization's business. The purpose and vision statements of the company are also available on its official website.
The corporate websites have license product applications, sponsorship information is provided on the corporate site.
Lastly, the corporate websites are fully fledged sites with all full loaded features that make them heavy and busy at the same time.
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assume that the market starts in equilibrium at point w in panel (b) which of the following is not correct?
The word "equilibrium" has its roots in the Latin word "libra," which means "weight" or "balance".
What is equilibrium and example?A state of mental or emotional balance that results from the interaction of two opposing forces or actions, such as when a force acting on a body has a resultant of zero or when a chemical reaction has equal forward and backward velocities.
Words like equilibrium come from the Latin word libra, which means weight or balance. These are some examples of equilibrium: a table upon which a book, open, is perched. a moving object that moves at a set speed. one in which the rates of the forward and backward reactions are equal.
Equilibrium happens at the point where the supply and demand curves meet.
The point makes clear the ideal cost and output. It can be determined by combining the formulae for quantity demanded and quantity supplied (a - bP = x + yP).
The complete question is:
Refer to Figure 14-14. Assume that the market starts in equilibrium at point W in panel (b) and that panel (a) illustrates the cost curves facing individual firms. Suppose that demand increases from D0 to D1. Which of the following statements is correct? Figure 14-14
Therefore, the correct answer is Points W and Z represent long-run equilibria.
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What is one effective element in the slide above? It provides succinct and clear information. It uses all-white text on a blue background.
Effective Element in the Slide is that It Provides Succinct and Clear Information .
Option A is correct.
Elaborating the slides:Avoid slides with lots of text. Especially if it's a repeat of what you're saying. Your audience may read your story rather than listen to it. If you want text-heavy slides, gradually reveal the text as needed.
Ideally, only add key topics to your slides in short, concise bulleted format. Much less boring for the audience, the best slides have no text and some speakers use only images.
What are PowerPoint slides?A slide is one page of a presentation. Collectively, a group of slides can be called a slide deck. A slide show is the display of a series of slides or images on an electronic device or projection screen.
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Complete Question:
What is one effective element in the slide above?
A) It provides succinct and clear information.
B) It uses all-white text on a blue background.
the quantity theory of money assumes there is a relationship between the quantity of money and the price level.
The field of economics known as monetary economics focuses on various money theories. The quantity theory of money is one of this discipline of economics' main research areas (QTM).
The general level of prices for goods and services is inversely correlated with the amount of money available in an economy, according to the quantity theory of money. Despite the fact that Nicolaus Copernicus, a Polish mathematician, first proposed this hypothesis in 1517, Milton Friedman and Anna Schwartz, two economists, popularized it in 1963 following the release of their book, "A Monetary History of the United States, 1867-1960."
The quantity theory of money states that, if all other factors are equal, price levels will double if the total amount of money in an economy twice. The consumer will therefore spend twice as much for the same amount of products and services. The level of inflation will eventually rise as a result of these rising price levels since inflation measures how quickly the cost of goods and services is rising in an economy.
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the three types of divisional structures are geographical structures, customer structures, and functional structures. true or false?
The three types of divisional structures are geographical structures, customer structures, and functional structures. This statement is false.
Commercial segmentation. has its own workers that work in product development, production, accounting, and sales and focuses on all commercial customers.
division for retail. focuses on all American retail clients, and employs its own product development, production, accounting, and sales staff.
international splintering concentrates on all non-American retail consumers. It has its own accounting and sales personnel and shares facilities for product research and manufacturing with the retail segment.
As the name suggests, a firm that is geographically structured would group its operations according to geography or region. As an example, the business will divide its activities into the "North America Division" and the "Europe, Middle East and Africa (EMEA) Division."
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E3-33B. (Learning Objectives 1, 3: Journalizing adjusting entries and analyzing their
effects on net income; comparing accrual and cash basis) An accountant made the following
adjustments at December 31, the end of the accounting period:
a. Prepaid insurance, beginning, €800. Payments for insurance during the period, €2,500.
Prepaid insurance, ending, €1,400.
b. Interest revenue accrued, €1,200.
c. Unearned service revenue, beginning, €1,500. Unearned service revenue, ending, €600.
d. Depreciation, €4,700.
e. Employees' salaries owed for three days of a five-day work week; weekly payroll,
€24,000.
f. Income before income tax, €21,000. Income tax rate is 25%.
Requirements
1. Journalize the adjusting entries.
2. Suppose the adjustments were not made. Compute the overall overstatement or understate-
ment of net income as a result of the omission of these adjustments.
The act of logging any transaction, whether or not it is an economic one, is known as a journal entry. Transactions are listed in an accounting journal that shows a company's debit and credit balances.
Give a brief account on adjusting journal entries.An adjusting journal entry is one that is made at the end of an accounting period in the general ledger of a business to record any unrealized income or expenses that occurred during the period. An adjusting journal entry is necessary to accurately account for a transaction that happens between two accounting periods.
To solve the question :
1. Adjusting journal entries are as follows :
Particulars Debit. Credit
a. Insurance expense A/c
($800 + $2,500 - $2,400) $600
To prepaid insurance A/c $600
(entry for expired portion of
prepaid insurance)
b. Interest receivable A/c $1,200
To interest revenue A/c $1,200
(adjusting entry for
accrued interest revenue)
c. Unearned service revenue A/c ($1,500 - $600) $900
To service revenue A/c $900
(entry for earned portion of
unearned service revenue)
d. Depreciation expense A/c $4,700
To accumulated depreciation A/c $4,700
(To record depreciation expenses)
e. Salaries Expense A/c
($24,000 / 5 days × 3 days) $14,400
To Salaries payable A/c $14,400
(To record accrued salaries expenses)
f. Income tax expense A/c
($21,000 × 25%) $5,250
To income tax payable A/c $5,250
(To record income tax expenses)
2. Calculating whether these omitted adjustments resulted in an overstatement or underestimate of net income
a. Adjusting Entry for Insurance Expense of $600 : Overstated
b. Adjusting Entry for accrued revenue of $1,200 : Understated
c. Adjusting entry for Service Revenue Earned of $900 : Understated
d. Adjusting Entry for Depreciation Expense of $4,700 : Overstated
e. Adjusting Entry for Salaries Expense for
three day of $14,400 : Overstated
f. Adjusting Entry for Income Tax Expense of $5,250 : Overstated
Impact on Net Income without Adjusting Entries of $22,850 : Overstated
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With examples describe how you would conduct situation analysis in determining customer needs and wants
An example of situational analysis. Customers provide key information about current customers, target markets, and opportunities that companies should pursue through their marketing plans.
The Competitors section shows your company's strengths and how you can improve based on your competitors' strengths and weaknesses.
Why Situational Analysis?A Situation Analysis helps to understand the baseline of the environment in which the plan will be implemented. Provides a common reference point for the planning process and prioritizes actions.
What is situational analysis and why is it important in market planning?The "Market Landscape" section of the plan includes research and analysis on the target market, competitors, business challenges and competitive differentiators of the company. Must contain the best and clearest description of the current state of the market
Why is it important to identify customer needs and wants?Proper identification of customer needs is critical to ensuring customer satisfaction and loyalty. If you don't properly understand your customer's needs, or if their needs don't care about you, they will look elsewhere.
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Activity goals are important because they reflect how efficiently the salesperson usesresources, such as time, to accomplish performance goals.A. TrueB. False
Activity goals are important because they reflect how efficiently the salesperson uses resources, such as time, to accomplish performance goals. This statement is true.
What is seven aspects of business?Seven components of exercise awareness offer aspects of daily life where physical exercise has a significant influence. The spheres typically, though not always, produce distinct physical activity goals in various social circumstances.
One such element is the sphere of self-sufficiency, which has the following definition.
We should execute ADLs and IADLs, the latter of which tend to be more physically demanding, in order to have a stable, independent existence. Then, by engaging in physical tasks that support or improve the home, we become self-sufficient. House upkeep activities refer to all such tasks.
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(Table: Wheat and Corn) Consider a country that produces only wheat and corn. Based on the data in the table, the growth rate of nominal GDP from 2005 to 2006 is:
Based on the data in the table, the growth rate of nominal GDP from 2005 to 2006 is option a 8%.
Describe GDP.The gross domestic product, or GDP, is one of the most well-known. It is frequently quoted by governments, central banks, and the business world in books, newspapers, television news, and reports. It is frequently used these days as a benchmark to assess the state of both national and global economies.
How is GDP calculated? Explain GDP.GDP is calculated by adding private consumption, gross domestic product, government investment, and other elements (exports – imports). The country's official statistical bureau frequently computes GDP using the global standard.
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Thelma inherited land from Sadie on June 7, 2021. The land appreciated in value by 100% during the six months it was owned by Sadie The value has remained stable during the three months Thelma has owned it, and she expects it to continue to do so in the near future. Although she would like to sell the land now, Thelma has decided to postpone the sale for another three months The delay is to enable the recognized gain to qualify for long-term capital gain treatment. Evaluate Thelma's understanding of the tax law.
Thelma's holding period for inherited property is lengthy. She will therefore be assessed a long-term gain or loss if she sells the property now.
The holding period for capital assets is significant in a lot of ways. Therefore, it's important to know when the holding period starts.Property acquired from a deceased person is held for an extended period of time (held for the required long-term holding period). This clause is applicable whether the property is sold for a profit or a loss.If the gain basis rule is applicable, the holding period for property received as a gift starts on the day the donor purchased the property. If the loss basis rule is in effect, the holding period begins on the date of the gift.Thelma's holding period is unavoidably lengthy because she inherited the property. She is therefore eligible for long-term capital gain treatment if she sells it right away. If Sadie gave the land to Thelma as a gift, both of their holding periods would be included in Thelma's holding period. Thelma's holding period would not be long-term (i.e., six months plus three months) if the land had been given to her.Hence, this is how Thelma's understanding of the tax law can be evaluated.
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