Answer:
answer is choice #2
- Partnerships file tax returns but pass profits and losses on to partners who report them on their tax returns.
The following statements about the taxation of partnership are true Partnerships file tax returns but pass profits and losses on to partners who report them on their tax returns. The correct option is B.
What happens to losses in a partnership?If a partner's share of partnership losses exceeds its outside basis in a given taxable year, the losses are allowed to the extent of the basis, with any excess amount carried over to the next taxable year in which the partner has an outside basis available.
A partnership does not pay tax on capital gains or losses, and they are not reported on an income tax and benefit return. Members of the partnership, on the other hand, report their portion of the partnership's capital gains or losses on their personal returns.
Thus, the ideal selection is option B.
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Is true or false ,Frequently calls for law enforcement assistance at an ABC-licensed established
Police officers, sheriff's deputies, and ABC Agents are all sworn regulation enforcement officers (peace officers) with powers of arrest. Whether in simple clothes or uniform, peace officers have the prison proper to visit and look into any licensed premises at any time all through enterprise hours barring a search warrant.
What is ABC regulation?Know About Academic Bank of Credit System. The ABC Regulations intend to supply impetus to blended learning Mode, permitting students to earn credits from quite a number HEIs registered underneath this scheme and via SWAYAM, an on-line repository of courses.
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https://brainly.com/question/26443214#SPJ9Compare and contrast the four market structures: monopoly, perfect competition, monopolistic competition, and oligopoly.
The following characteristics explain why the categories are different: In oligopoly, there are few producers, many in perfect and monopolistic competition, and one in monopoly.
Comparison between 4 types of competition in a free market system?In a free market economy, there are four different types of competition: perfect competition, monopolistic competition, oligopoly, and monopoly.
In Monopoly a state of the market where one firm has complete control over output and prices. In Perfect competition exists when all businesses sell the same goods, as in the market share has no bearing on prices, businesses can enter or quit the market without any obstacles and Monopolistic competition industry has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals. Though the Oligopoly markets where a few suppliers have a monopoly. They are present in every nation and a wide variety of industries. While some oligopoly markets are much more competitive than others, others can at least appear to be so.
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The Human Relations Department of Electronics Incorporated would like to include a dental plan as part of the benefits package. The question is: How much does a typical employee and his or her family spend per year on dental expenses? A sample of 45 employees reveals the mean amount spent last year was $1,820, with a standard deviation of $660.
a. Compute a 95% confidence interval to estimate the population mean dental expense. (Round your answers to the nearest whole dollar amount.)
The confidence interval for the above observation is given as: (1627, 2013)
The formula for computing the confidence interval (CI) is given as:
CI = [tex]\bar X[/tex]± z * (σ/√n)
Where:
CI - Confidence Interval
[tex]\bar X[/tex] - Sample Mean
Z - Z value for CI
σ - Standard deviation
n - Number of elements in the Sample
Note that :
[tex]\bar X[/tex] = 1820
z - for 95% CI is usually 1.96
σ = 660
n = 45
Hence,
CI = 1820 - 1.96(660/sqrt(45))
CI = 1820 - 1.96(660/6.708203932499369)
CI = 1820 - 1.96(98.38699101)
CI: 1820-192.839 ≤ mu ≤ 1820+192.839
CI = (1627.161, 2012.839) rounded to the nearest whole dollar amount, we have
CI = (1627, 2013)
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A treasury bonds will pay 3% interest a year for 30 years . How much interest will the investor collect at the of 30 years
The investor collect $30 for one year, $900 at the end of 30 years.
What are treasury bonds? The U.S. government's fixed-rate Treasury bonds (often known as T-bonds) have a maturity range of 10 to 30 years. T-bonds offer semi-annual interest payments until maturity, when the bond's face value is given to the owner.For investors seeking security and a fixed rate of interest that is paid until the bond's maturity on a semi-annual basis, Treasury bonds may be a wise investment. Bonds are a crucial component of an investment portfolio's asset allocation since their consistent return helps balance out the volatility of equities prices. I-bonds issued from May 2022 through October 2022 have a 9.62% composite rate.Learn more about treasury bonds here:
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Businesses use organizational design to structure their
Group of answer choices
people, information, and technolog
information, technology, and competitors.
people, information, and competitors
technology, people, and competitors
Businesses structure their people, information, and technology using organizational design.
The sole proprietorship, partnership, corporation, and S corporation are the four most popular business structures. State law permits the use of the Limited Liability Company (LLC) as a corporate form. The choice of a firm structure takes into account legal and tax factors.
What is Businesses structure?
The different divisions that make up a typical corporate structure contribute to the overall mission and aims of the organization. Marketing, finance, operations management, human resources, and information technology are typical departments. Although there are many fewer departments inside independent enterprises, these five divisions reflect the key departments within a publicly traded company. Many companies include a CEO as well as a board of directors, which is typically made up of the directors of each department and may also include one or more non-executive directors. Additionally, there are CFOs, vice presidents, and company presidents. However, there is a wide variety of corporate structures, with businesses ranging from a single company to a conglomerate of multiple corporations. Functional, divisional, geographic, and matrix structures are the four primary types of corporate structures.To learn more about Businesses structure visit:https://brainly.com/question/10730450
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Mrs. Publinsky and her husband, Xander are planning their dream house. The lot for the house sits high on a hill with a beautiful view of the White Mountains. The plans show the size of the house to be 2,900 sq ft. The average price for a lot and house similar to this one has been 150 per sq ft. Fortunately, Xander is a retired plumber and feels he can save money by installing the plumbing himself. Mrs Publinsky feels she can take care of the interior decorating. They both feel they can complete the exterior painting with the help of their two sons.
Based on the size of the house and the average price that is charged per square feet for a house similar to that of Mrs. Publinsky and Xander, the estimated cost if they use a contractor to complete the house would be $435,000.
How to find the cost of the house?The cost of the house would be based on the amount that contractors generally charge for a house similar to the one that Mrs. Publinsky and her husband, Xander, have an eye on.
In this case, the contractor price is $150 for every square feet of the house.
This means that if Mrs. Publinsky and her husband, Xander, decide to use a contractor instead of doing things themselves with the help of their two sons, the total cost would be:
= Cost per square feet to work on house and lot for similar house x Number of square feet
Solving for the estimated cost gives:
= 150 x 2,900
= $435,000
The rest of the question is:
What is the estimated cost for the Publinskys’ house if they use contractors to complete all of the house?
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What does the Myers-Briggs Type Indicator classification of "E or I" stand for?
The Myers-Briggs Type Indicator classification of "E or I" stand for: C) extroverted/introverted.
What is Myers-Briggs personality trait?Myers-Briggs personality trait simply refers to a type of personality indicator or a self-report inventory that was designed and developed by Isabel Myers and Katherine Briggs to identify an individual's personality type, preferences, and strengths.
Additionally, the Myers-Briggs Type Indicator classification comprises the following four (4) categories:
Introversion or extraversion.Sensing or intuition.Thinking or feeling.Judging or perceiving.According to the Myers-Briggs personality trait, the type indicator classification of "E or I" simply represents extroverted or introverted.
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Complete Question:
What does the Myers-Briggs Type Indicator classification of "E or I" stand for?
A) extroverted/intuitive
B) emotional/introverted
C) extroverted/introverted
D) emotional/intuitive
E) sane/reflective
Grace and her buyers, Sam and Kim, have been looking at homes in a particular new development for over a month. It's obvious to Grace that Kim loves the development. The homes are selling fast and there is only one left. Grace has heard that this developer will not be building any more homes in this price range; he plans to go more upscale. If Grace shares this information with Sam and Kim, what kind of closing technique is this?
If Grace shares the aforementioned information with Sam and Kim, the kind of closing technique which this is, is: Standing room only.
What is closing?In sales and marketing, closing is a terminology which is typically used with respect to sales and it can be defined as the strategic process of making a business sale successful, such as through the exchange of money for a particular product or goods between a buyer and a seller.
In order for a salesperson to be able to close sales, he or she require abilities such as negotiation skills, courage, active and good listening ears, and interpersonal skills to do so or achieve a successful sales.
What is a standing room only close?Standing room only close can be defined as a type of closing technique in which the salesperson such as Grace, gets a quick commitment from a buyer to a purchase, especially by telling him or her that the demand for the product is very high and only limited quantity is available for purchase at a particular price.
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Complete Question:
Grace and her buyers, Sam and Kim, have been looking at homes in a particular new development for over a month. It's obvious to Grace that Kim loves the development. The homes are selling fast and there is only one left. Grace has heard that this developer will not be building any more homes in this price range; he plans to go more upscale. If Grace shares this information with Sam and Kim, what kind of closing technique is this?
Assumptive
Alternative
Ownership
Standing room only.
Explain how the predictions made using analytics are somewhat different than those from traditional forecasting models? Are the data used differently? Are the types of predictions different?
Predictive analytics is more about consumer behavior and may use explanatory variables to predict outcomes, whereas traditional forecasting is all about the numbers and uses level, trend, and seasonality observations to predict outcomes.
Advanced predictive analytics can take into account an infinite number of fundamental factors at once and uses a combination of models and techniques to analyze larger data sets with many more attributes. Traditional demand planning uses one hierarchy and one best fit model to forecast the current product, which is somewhat constrained in terms of approaches and inputs.
With the help of advanced predictive analytics, it is possible to forecast product sales as well as pricing, market share, the weather, conversion rates, advertising, in-store merchandising, and a wide range of other variables at a variety of dynamic hierarchies using similar algorithms and approaches. Historically, traditional demand planning has been used as a trustworthy single point signal to produce or buy products and manage inventory levels by giving an item's projected sales.
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Which of the following tools is useful for keeping track of task?
The tools that is used to keep track of multiple revisions of a document is C. Track changes.
What is the function of the Track changes in a document?
The function of the Track changes in a document can be attributed to how it is been used in the keeping of the track of the documents that posses the multiple revision.
It should be noted that the Track changes serves as very important tools that is been used by the organization as well as the business which help them to handle their documents as well as the documents of their client and with the use of this tool their is a very high efficiency as well as good time management because it make the work to be very fast when trying to sort the documents.
Therefore, option C is correct because it is the available tool that can be used when dealing with series of documents in the organization.
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Check the complete question:
Which of the following tools is used to keep track of multiple revisions of a document?A. Compare documents
B. Password protection
C. Track changes
D. Word count
Question 3 of 30:
ABC Corp. sells warehouse equipment and provides temporary warehouse workers to businesses. With its
business in mind, what would constitute a liability for ABC?
Select an answer:
accounts receivable for warehouse equipment sold during the year
cash outflows from paying cash for equipment purchased from suppliers
health benefits for ABC's temporary workers for the next year
customer contracts for temporary workers through the end of the year
Previous
Skip
According to the statement Customer contracts for temporary workers through the end of the year.
The correct option is D.
What is an example of a consumer contract?Consumer contracts come in a number of different forms. Examples include door-to-door sales (direct agreements), pre-paid membership agreements, purchasing things online, or buying goods directly from the seller.
What is the purpose of consumer contracts?A legally enforceable agreement known as a "consumer contract" is signed between a vendor and a customer who buys products or services for their own use. Although they can also include the sale of raw materials and services, these contracts normally only apply to finished goods.
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The complete question is -
ABC Corp. sells warehouse equipment and provides temporary warehouse workers to businesses. With its business in mind, what would constitute a liability for ABC?
A-accounts receivable for warehouse equipment sold during the year
B-cash outflows from paying cash for equipment purchased from suppliers
C-health benefits for ABC's temporary workers for the next year
D-customer contracts for temporary workers through the end of the year
The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of grueling exams, the designation often results in a promising career with a lucrative salary. A student of finance is curious about the average salary of a CFA charterholder. He takes a random sample of 36 recent charterholders and computes a mean salary of $162,000 with a standard deviation of $36,000. Use this sample information to determine the 90% confidence interval for the average salary of a CFA charterholder.
The confidence interval for the average salary of a CFA charter holder : ( 1,49,820, 1,74,180)
We assume that the salary of CFA charterholders is typically distributed.
Let the salary of CFA charter holders be = x
ATQ
n = 36 and x = 1,62,000
Degree of freedom :
df = 35 [ df= n-1]
s= $36,000
Significance level :
a = 1 - 0.95
= 0.05
Using the t-distribution table,
Ta/2, df = t(0.025), 35
= 2.030
95% confidence interval for the average salary of a CFA charterholders
1,62,000 + (2.030). 36000/√36
= 1,62,000 +- 12180
= ( 1,62,000 - 12180, 1,62,000 + 12180)
= ( 1,49,820, 1,74,180)
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Divisional structures can foster competition for resources between different business units in the same company. 1 point True False
In a divisional structure, humans are grouped together based on the product or service they provide, now not the work they do. For example, a giant organization such as General Electric has divisions for electronics, transportation, and aviation, each with its very own group of accountants, marketers, etc.
How does a divisional shape help a business?The divisional structure permits decision-making to be shifted downward in the organization, which may additionally improve the company's ability to respond to nearby market conditions.
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https://brainly.com/question/2264114#SPJ9When dressing for success you should NOT _____.
a.
dress neatly
b.
wear bright, flashy clothes
c.
wear minimal jewelry
d.
look clean
Answer:
B-Wear bright flashy clothes
Explanation:
bright flashy clothes can give off the wrong impression to people that may have been previously up to working with you, it can change the minds of people in an instant, but if you look clean, dress neatly, and wear minimal jewelry people will tend to pick you over someone who dresses innaproetly even if you are less qualified. Therefore option b is the answer because when dressing for success you should not wear bright flashy clothes.
Which of the following statements best describes a person’s accomplishments following the résumé writing guidelines?
a.
Coordinated school’s student-body elections and reduced final ballot processing time by 30%
b.
My duties included organizing the student-body elections and processing ballots
c.
I was in charge of the school’s student-body elections and ballot processing
d.
Processed a lot of ballots quicker than the previous year
Answer:
coordinated school's student-body elections and reduced final ballot processing time by 30%
Coordinated school’s student-body elections and reduced final ballot processing time by 30%: best describes a person’s accomplishments following the résumé writing guidelines. Thus, option A is the correct option.
What is a resume?A curriculum vitae (CV), commonly known as a résumé or resume (or alternatively, resumé), is a document that a person creates and uses to highlight their educational history, professional experience, and accomplishments. Although there are many uses for resumes, they are most frequently employed to find new jobs. A standard résumé includes a summary of education and employment history that is pertinent.
The résumé is normally one of the first things a potential employer sees about a job seeker, along with a cover letter and occasionally an application for employment, and is commonly used to screen applicants, frequently followed by an interview. The curriculum vitae used for employment in the UK (and other European nations) resembles the résumé more closely than
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What do you need to do before you analyze your
current work systems?
The latest version of the work system method is organized and the work system concept is like a common denominator for many of the types of systems that operate within or across organizations.
What is Work System?
Work system has been used loosely in many areas. It is a system in which human participants and/or machines perform work using information,technology and other resources to produce products/ services for internal or external customers.
A general problem-solving outline that includes:
Identify the problem or opportunityIdentify the work system that has that problem or opportunity.Use the work system framework to summarize the work system.Gather relevant data.Decide what to recommend.Justify the recommendation using relevant metrics and work system principles.To know more about the system software refer to :
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Define the term ethical objectives
Answer:
Explanation:
the moral principles and values
the right or wrong of business objectives
All of these are other names for an estimate EXCEPT:
OA)
A) repair order.
B) damage appraisal.
C) damage report.
D) visible damage quote.
When you file your claim, your insurance plan organisation will refer you to a claims adjuster, who will verify the loss and make an initial willpower on what it will fee to repair the car. The adjuster's estimate is a benchmark, no longer a complete declare payment.
What is a preliminary estimate mean?Preliminary estimates are also known as tough or approximate estimates, in accordance to Civil Engineering Daily. This is due to the fact they are now not final—they supply a ballpark thought of how a good deal a undertaking will cost. A preliminary estimate is made at the very starting of a mission when there may be constrained statistics available.
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https://brainly.com/question/27993465#SPJ9What does Apple really believe will motivate consumers to purchase the Apple Watch? Are there different motivations at the low versus high (luxury version) price point?
Answer:
Apple believes self fulfillment is the major motivation for its buyers. Yes, there are different motivations. A need that is compelling enough to lead a person to seek its gratification is what is meant by motivation.
Which statement is true? (select one).
Gaining ethical approval means that ethical issues will not arise in your research.
Research ethics is about ensuring that research is carried out in an ethical way, rather than preventing research from being done.
Gaining ethical approval means that all risks in your research will be eliminated.
Ethical approval is not needed if your research does not involve human participants.
Option (a), which states that receiving ethical permission ensures that no ethical difficulties will develop throughout your research, is the correct choice.
What does attaining moral acceptance mean?The researcher can show that they have followed the acknowledged ethical guidelines for a legitimate research study by gaining ethical approval. Participants have a right to know who has access to and what is being done with their data.
Why is ethical approval for research required?Most research projects need ethical clearance primarily for the following reasons: To ensure that the research is carried out in a way that is ethically responsible and accountable, to reduce the possibility of harm coming to people (and animals), etc. Make sure that the research ultimately yields useful results.
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In the Library Guide you will watch "The Incredible Journey of Elon Musk - The Story of Tesla". Leaders often have to take risks and make unfavorable decisions. After reviewing the video,
What leadership style or styles did Musk exhibit?
Do you think there were benefits and drawbacks of his decisions?
As a leader, would you have handled the situation the same or differently? Why or why not?
Do you think there would be an ethical concern(s)? If so, what?
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Don’t copy internet
Within the Library guide, you will watch "The terrific adventure of Elon Musk - The story of Tesla Elon Reeve Musk FRS born June 28, 1971, is a commercial enterprise wealthy person and investor.
He is the founder, CEO, and chief engineer of SpaceX; angel investor, CEO, and product architect of Tesla founding father of The uninteresting employer and co-founder of Neuralink and OpenAI.
Elon Musk is the remarkable journey of Elon Musk - The story of Tesla The billionaire goals to colonize the crimson planet and has given various statements within the beyond about his intentions towards Mars, inclusive of nuking the planet to make its atmosphere more liveable to human beings (it's miles as crazy as it sounds.) In 2021, Musk made a similar statement on the Lex Fridman podcast.
He is willing to risk everything his money, his possessions, his fitness, and so forth to make his vision a fact. most people could find what Elon Musk risks to be extremely annoying, but Musk sees it as important in order to achieve his desires
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Can someone please help me with PART B)
its very confusing to me.
Thank you.
Part B) The adjusting journal entries to the accounts of Banners Inc. are as follows:
Debit Bank Charges $50
Credit Cash $50
To record the bank charges.Debit Cash $4,000
Credit Notes Receivable $4,000
To record the receipt of the notes.Debit Cash $396
Credit Accounts Payable $396
To reverse an overstated check entered as $915 instead of $519.Debit Accounts Receivable $200
Credit Cash $200
To record an NSF check from a customer.Analysis of Transactions Affecting the Banners Records:Bank Charges $50 Cash $50
Cash $4,000 Notes Receivable $4,000
Cash $396 Accounts Payable $396
Accounts Receivable $200 Cash $200
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if a guest presents a military, ID what should the server/ seller do
The server or vendor should request a second legitimate ID if a customer shows a military ID.
The required details for guest in given paragraph
A friend is your guest if you invite her over to your place. You might tell your folks that you've invited seven people to Thanksgiving dinner. A guest is someone who stays over at your house or someone you invite to a celebration or meal: dinner/wedding guests. A guest is another name for a person who is staying at a hotel.
A guest is a person who is invited to an event or who is visiting. Every everybody you invite to a wedding, including your next-door neighbor who drops by for lunch, is a guest.
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In a study of the accuracy of fast food drive-through orders, one restaurant had 38 orders that were not accurate among the 308 orders observed. Use a 0.05 significance level to test the claim that the rate of inaccurate orders is equal to 10%. Does the accuracy rate appear to be acceptable?
Yes the accuracy rate seems to be acceptable.
How to solve for the accuracy rate38 / 308
= 0.1234
H0 p = 0.10
H1 p ≠ 0.10
The hypothesis is two tailed this is a two tailed test
we have to find te test proportion
0.1234 - 0. 10 / √(0.10 * 0.90/308)
= 0.0234 / √0.0002922
= 0.0234 / 0.01709
= 1.369
find the p value
2 (z < 1.369)
2 x 0.0855 = 0.171
The calculated p-value is greater that the significance level (0.05), so we do not reject the null hypothesis.
Therefore we have to conclude that the accuracy rate appear to be acceptable.
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High levels of GDP per capita indicate...
High levels of GDP per capita indicate an excellent standard of living. An increase in GDP per capita is frequently linked to favorable outcomes across a variety of domains.
What is GDP per capita?Gross Domestic Product (GDP) per capita measures a nation's GDP as a percentage of its entire population. A common indicator of a nation's affluence, level of life, and all-around well-being is its GDP per capita. A low number signifies that a nation struggles to meet the needs of its citizens. The GDP per capita provides a substantially more realistic picture of living standards when compared to GDP alone. Since a country's national revenue is inversely correlated with its population, a growth in GDP makes perfect sense as the population grows.Learn more about GDP per capita here:
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State whether the following statements are true or false. True False True False corporations must flow through financial
a. Financing for public corporations must flow through financial markets
b. Financing for private corporations must flow through financial intermediaries
c. Almost all foreign exchange trading occurs on the floors of the FOREX exchanges in New York and London.
d. Derivative markets are a major source of finance for many corporations
e. The opportunity cost of capital is the capital outlay required to undertake a real investment opportunity
f. The cost of capital is the interest rate paid on borrowing from a bank or other financial institution.
a. Financing for public corporations must flow through financial markets
False
b. Financing for private corporations must flow through financial intermediaries
False
c. Almost all foreign exchange trading occurs on the floors of the FOREX exchanges in New York and London.
False
d. Derivative markets are a major source of finance for many corporations
False
e. The opportunity cost of capital is the capital outlay required to undertake a real investment opportunity
False
f. The cost of capital is the interest rate paid on borrowing from a bank or other financial institution.
False
a.Financial markets, financial intermediaries, or both are used to finance public enterprises.
b.Financial markets, financial intermediaries, or both are used to finance private enterprises.
c.On the trading floors of FOREX exchanges located in a number of different nations and locations, such as China, Japan, India, etc., foreign exchange is traded.
d.For many businesses, derivative markets are not a significant source of funding. It is a less popular and less preferred kind of corporate financing.
e.The estimated rate of return that shareholders might expect to get on investments with the same risk as the firm's capital investments in the financial markets is known as the opportunity cost of capital.
f.The interest rate paid on loans from banks or other financial institutions is known as the cost of debt.
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If you could advise Sally about how to manage ethics in this situation what would you say explain
In a bid to manage ethics you should consider
Be an example and make yourself known. Top managers serve as a model for what is appropriate conduct for employees.Communicate Expectations for Ethical Behavior.Provide ethics education.Provide Protective Mechanisms, Clearly Reward Ethical BehaviorPunish Unethical Behavior.This is further explained below.
What is ethics?Generally, The study of ethics, often known as moral philosophy, "involves systematizing, defending, and endorsing conceptions of good and bad action," according to one definition of this subfield of philosophy.
Matters of worth are the focus of both the discipline of ethics as well as the area of aesthetics; together, these subjects make up the subfield of philosophy known as axiology.
In conclusion, At its most fundamental level, ethics may be seen as a set of moral guidelines.
They have an impact on the choices that individuals make and the way they direct their life.
The study of ethics, often known as moral philosophy, is focused on determining what is beneficial for individuals as well as for society.
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CQ not Found
3. As a college freshman, you hoped to save $2,500 to “pimp your ride” as a college graduation present to yourself. You put $2,012.98 from your high school graduation haul in the bank at 5 percent interest. Will you meet your goal?
At the end of your college, you will not have enough money saved up.
Will you have enough money?College lasts for 4 years on average. Thus, your high school graduation haul would be in the bank for 4 years. The amount that is saved would increase at an exponential rate. This means that the investment would grow at a compound rate.
The equation that represents an exponential growth is:
FV = P (1 + r)^n
Where:
FV = Future value P = Present value R = interest rate N = number of years$2,012.98 x (1 + 0.05)^4
$2,012.98 x (1.05)^4 = $2,446.79
$2,446.79 is less than $2,500. Thus, you will not have enough money to pimp your ride.
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Glass straws are another alternative and offer many of the same benefits as metal straws. Both are dishwasher-safe and highly reusable. Unlike metal, however, glass can break easily, which is something that needs to be taken into account. Nevertheless, glass straws often feature unique designs that can be seen as works of art, which is a plus for some consumers.
What is the meaning of the the word consumers as it is used in this text?
a
Animals that eat other animals
b
Animals that eat plants
c
People who buy and use goods
d
People who serve others
The meaning of the the word "consumers" as being used in this text tells about the people who buy and use goods.
Who are known as a consumer?Basically, a consumer, in economics, is defined as any person or group who intends to order or uses a purchased goods, products or services for personal, social, family, household needs and not directly related to either an entrepreneurial or business activities. It is commonly used to refers to a person who purchases goods and services for personal use.
As stipulated that the glass straws often feature unique designs that can be seen as works of art which is an added advantage for some consumers, the word consumers means the people who bought and use the glass straw for decoration.
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Robotics Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2024 fiscal year: Cost Retail Beginning inventory $ 280,000 $ 520,000 Net purchases 681,000 1,240,000 Freight-in 22,400 Net markups 28,000 Net markdowns 9,000 Normal spoilage 6,000 Sales 1,420,000 The company records sales to employees net of discounts. These discounts totaled $27,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)
One asset that includes frequent transactions and is consequently susceptible to errors and blunders is inventory. Different techniques can be used to value inventories.
Finished stock 182,600
Cost of sales 807,950
$290,000 for first inventory, $540,000
Net purchases were 691, 150, 000.
What causes inaccuracies in the inventory?
Human error or deficiencies in inventory management procedures are the main causes of inventory discrepancies.
They can range from shrinkage to theft, lost inventory to accidentally putting merchandise in the wrong area, among other things.
Inventory shrinkage, misplaced inventory, human error, and so forth.
return management errors.
How does inventory work?
All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory. Example: Only the newspaper will be regarded as inventory if a newspaper vendor utilizes a vehicle to distribute newspapers to clients. The car will be considered an asset.
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