Answer:
The monthly groceries and the clothing purchases qualify as variable expenses. Variable expenses are expenses that can change in relation to your product or service usage such as fuel consumption. The monthly groceries and the clothing purchases expense can change. It depends on how you spend your money.
Answer:
Clothing purchases
Monthly groceries
Medical Bills
Explanation:
Edg 2022
Introduction of accounting
Answer:
Accounting is the language of business. It is the system of recording, summarizing, and analyzing an economic entity's financial transactions
Explanation:
Answer:
Accounting is the language of business. It is the system of recording, summarizing, and analyzing an economic entity's financial transactions. Effectively communicating this information is key to the success of every business. Those who rely on financial information include internal users, such as a company's managers and employees, and external users, such as banks, investors, governmental agencies, financial analysts, and labor unions. These users depend upon data supplied by accountants to answer the following types of questions:
• Is the company profitable?
• Is there enough cash to meet payroll needs?
• How much debt does the company have?
• How does the company's net income compare to its budget?
• What is the balance owed by customers?
• Has the company consistently paid cash dividends?
• How much income does each division generate?
• Should the company invest money to expand?
Accountants must present an organization's financial information in clear, concise reports that help make questions like these easy to answer. The most common accounting reports are called financial statements.
Explanation:
What is a method that managers can use to motivate employees?
1.Encouraging employees to specialize
2.Investing in new technology
3.Offering performance-based financial rewards
4.Sharing customer information with employees
A method that managers can use to motivate employee is offering performance-based financial rewards.
What is motivation?Motivation is the process that guides and keeps people towards ensuring set goals are meet. It is what keeps one going, which act as encourage and spur one to do more.
Managers always want an improved performance from their employees. One of the method they use is to offer them performance-based financial rewards if they are able to meet and exceed certain targets.
Hence, a method that managers can use to motivate employee is offering performance-based financial rewards.
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Nail polish and polish remover are related goods because they are frequently bought together. If nail polish becomes cheaper, what happens to the demand for polish remover?
A) Demand decreases by moving along the current demand curve
B) Demand decreases by shifting the demand curve to the left
C) Demand increases by moving along the current demand curve
D) Demand increases by shifting the demand curve to the right
Why?
Answer: The correct answer is D
What economic challenge comes with being a contingency worker?
A.
It can be hard to predict how much money you will make.
B.
Much of the work comes with a salary and benefits.
C.
It means there are fewer applicants for full-time positions.
D.
There is little protection against unruly members of the public.
Answer:
answer is d
hope it helps
What was the cost of goods sold for Lunar Company, if the days in inventory ratio was 73 days, and the average inventory was $125,000 for the most recent fiscal year
The cost of goods sold for Lunar Company, if the days in inventory ratio was 73 days is:$625,000.
Cost of goods soldUsing this formula
Cost of goods sold=365 day/Days in inventory ratio ×Average inventory
Where:
Days in inventory ratio=73 days
Average inventory=$125,000
Let plug in the formula
Cost of goods sold=365/73 days×$125,000
Cost of goods sold=$625,000
Inconclusion the cost of goods sold for Lunar Company, if the days in inventory ratio was 73 days is:$625,000.
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True or false: Efficiency within pure competition can be temporarily disrupted by a change in consumer tastes.
It should be noted that efficiency within pure competition can be temporarily disrupted by a change in consumer tastes. Therefore, it's true.
What is competition?It should be noted that competition is important in marketplace as it acts as a regulating force.
In this case, efficiency within pure competition can be temporarily disrupted by a change in consumer tastes.
Therefore, the statement is true.
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A macroeconomic policy which is adopted to combat inflation through
government expenditure and tax is?
What are the factors of production of a gas station?
- land :
-labour :
-capital :
- entrepreneurship:
labor- ex: attendants who work gas station.
land - ex: physical space occupied.
capital - ex: gas tanks and pumps.
Answer:
labor-ex:attendants who work gas station.land - ex: physical space occupied.capital - ex: gas tanks and pumps.Explanation:
As the owner of a small business, you have decided to apply for a loan
to expand your locations. Information that you most likely will need to
provide to the lender include all but:
a. current sales and expense figures.
b. projected sales and expense figures.
c. the cost of the expansion.
d. the average value of homes in your neighborhood.
Answer:
Sales revenue is the income received by a company from its sales of goods or the provision of services. In accounting, the terms “sales” and “revenue” can be, and often are, used interchangeably to mean the same thing. It is important to note that revenue does not necessarily mean cash received. A portion of sales revenue may be paid in cash and a portion may be paid on credit, through such means as accounts receivables.
Sales revenue can be listed on the income statement as either the gross revenue amount or net revenue. Net revenue includes all deductions for the return of goods, the possibility of undeliverable merchandise and the expense for unrecoverable accounts receivables (also known as “bad debt expense”, which flows into the balance sheet as the allowance for doubtful accounts).
Gross revenue, on the other hand, does not include these deductions. The gross revenue presentation will have the deductions listed below gross revenue, and a subtotal for net revenue below that.
Explanation:
to file your federal and state taxes you
To file your federal and state taxes you have to fill out IRS Form 1040 or Form 1040-SR using your hand and then one can mail it.
Thereafter, one can also use tax software and file taxes online, or one can hire any human tax preparer to do the tax filing for you.How do you file state and federal taxes?The Filing taxes for a lot of taxpayers in most states is known to be the act of filing a federal and a state return.
In all, a lot of federal and any state returns is said to be filed at the same time.
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What is the annual income of a household in the 90th percentile of annual household income in Maryland (to the nearest dollar)
Answer: According to Money magazine, Maryland had the highest median annual household income of an state in 2018 at $75,847
To the closest dollar, the annual household income of a Maryland household in the 90th percentile is $ 119178.
What is annual household income?Annual Household Income is the gross income of an individual as of the date of occupancy indicated on the income certification issued by the Corporation, as well as the gross income of all other individuals who intend to permanently reside with that individual in the Development to be funded by the Corporation.
The level of average household income can be used to gauge how financially secure a nation's residents are. Because they only contain disposable income and take into account that persons who live in shared housing benefit from sharing at least some of their living expenses, mean or median net household income, after taxes and mandated contributions, are used as indicators of standard of living.
The median income is the number that divides the income distribution into two equal groups, with half of the population earning more than that amount and half earning less.
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Blossom Company reported net sales of $263,000, cost of goods sold of $157,800, operating expenses of $49,500, net income of $42,080, beginning total assets of $482,800, and ending total assets of $626,100. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2%.)
The profit margin and gross profit rate of Blossom Company are 16% and 66.67%
What is profit margin?The profit margin is a ratio of a company's profit (sales minus all expenses) divided by its revenue. The profit margin ratio compares profit to sales.
Profit margin
= Net income / Net sales = $
= $42,080 / $263,000
= 16%
Gross profit rate
= Goss profit divided / Net sales x 100
First, we need to compute the gross profit.
Gross profit
= Net sales - Cost of goods sold
= $263,000 - $157,800
= $105,200
Then,
Gross profit rate
= $105,200 / $157,800
= 66.67%
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The future value of an annuity of $1,000 each quarter for 10 years, deposited at 12 percent compounded quarterly is
The future value of the quarterly annuity compounded every quarter is $75,401.26.
What is the future value of the quarterly annuity?
The formula that can be used to determine the future value of the quarterly annuity is: Amount x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
Where:
r = interest rate = 12% / 4 = 3%n = number of years = 10 years x number of compounding = 10 x 3 = 30 yearsAnnuity factor ={ [(1.03)^40] - 1/} 0.03 = 75.401260
Future value = 75.401260 x 1000 = $75,401.26.
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Why might someone choose to diversify their investments?
Answer:
When you diversify your investments, you reduce the amount of risk you're exposed to in order to maximize your returns. Although there are certain risks you can't avoid, such as systemic risks, you can hedge against unsystematic risks like business or financial risks.
Answer:
C: Reduce both risks and returns.
On Edge.
An insurance settlement offer includes annual payments of $36,000, $42,000, and $50,000 over the next three years, respectively, with the first payment being made one year from today. What is the minimum amount you should accept today as a lump sum settlement if your discount rate is 7 percent?
A. $119,877.67
B. $111,144.18
C. $105,000.10
D. $118,924.27
E. $114,556.88
After her first business trip to a major city, Jayla is alarmed when she reviews her credit card receipts. Both the hotel bill and the car rental charge are in excess of the price she was quoted. Was Jayla overcharged, or is there an explanation for the excess amounts
Jayla was not overcharged there has to be a reason for the excess amount.
What is a business trip?This is a trip that is undertaken solely for reasons that are work related. Jayla was not overcharged on the trip as there could be a reason for the excess amounts.
What is an overcharge?This is a charge that is said to be too high, based on the services that was rendered to a person.
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Recently, the United States imposed a 35 percent tariff on Chinese tire imports in the hopes of sustaining U.S. jobs in tire manufacturing. This addition of tariffs is an example of
Imposing the tariffs is an example of increasing protectionism.
What is protectionism?Protectionism are the various policies enacted on by the government of a country with the aim of protecting local industries or local production.
When goods are imported from a foreign country, it has the potential to discourage local production as the imported good may be cheaper. Imposing tariffs would help in limiting the encroaching of foreign products.
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To guide goodwill, employee and manager ‘intentions’ are informed by
In guiding goodwill, employee and manager "intentions" are informed by customer satisfaction.
What is customer satisfaction?Customer satisfaction is based on how efficiently and effectively a company's products or services meet customer expectations. Customer satisfaction increases customers' purchase intentions and loyalty. Measuring customer satisfaction with surveys helps the organization to predict its business growth and future revenue.
Thus, to ensure that the organization maintains its goodwill or good reputation with customers, the employees and managers must exceed customers' expectations.
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Suppose that Markus Braun has a set of steps that Wirecard takes each time they acquire a new company. This is known as a .
The name which is given to the set of steps which Markus Braun to make sure that Wirecard acquires a company is:
Strategic goalWhat is a Strategic Goal?This refers to the long term objectives of a company or business which usually requires patient planning and moves which helps to achieve the aims and objectives of the company.
With this in mind, we can see that because Markus Braun is taking careful steps in order to acquire a new company, then this is known as strategic goal.
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AcerWare Inc. manufactures external hard disks for $32 per unit, and the maximum price customers are willing to pay is $47 per unit. Data Driver Inc. is a competitor of AcerWare Inc. that produces external hard disks for $37 per unit, and customers are willing to pay a maximum price of $50 per unit. What does this imply? Multiple Choice AcerWare and Data Driver share differentiation parity. Data Driver has a competitive advantage over AcerWare in terms of perceived value. AcerWare creates a greater economic value than Data Driver. Data Driver is a cost-leader when compared to AcerWare.
Based on the price and amount that customers are willing to pay, Data Driver has a competitive advantage over AcerWare in terms of perceived value.
Why does Data Driver have this competitive advantage?A company is said to have a competitive advantage in perceived value over another company if customers are willing to pay more for its goods than the competitors.
DataDriver has a willingness to pay of $50 and AcerWare has a willingness to pay of $47. DataDriver therefore has a competitive advantage here.
In conclusion, option B is correct.
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Accounting takes in the process of Identifying, Recording and Communicating”. How would you explain the statement? Support your answer with examples on Identifying, Recording and Communicating
What this statement means is that accounting is being defined as the process of record keeping, management and analysis.
What is accounting?This is the process that is mostly used in finance to communicate and record information especially in income and financial statements.
Accounting is mostly about being able to know the transactions that one is to record, recording it in the appropriate place and the ability to communicate the records using reports.
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What are some of the things you could do to benefit your community other than providing jobs and tax revenue?
Answer:
Volunteer work, charitable donations, or participating in community festivals and events are all common for small business owners. You may see a local car service sponsoring a youth sports team or a group of downtown merchants organizing a community trash pick-up day.
Explanation:
Contribution margin per unit contributes to covering ______ costs and then generating _____ on a per unit basis.
Answer:fixed; profits
Explanation:
Which one is NOT considered an universal virtue?
A. Respect
B. Honesty
C. Happiness
D. Responsibility
Answer:
B - happiness
Explanation:
cause it's not a must for a person to be happy
Draco, Inc. has the following overhead standards: Variable overhead: 4 hours at $8 per hour Fixed overhead: 4 hours at $10 per hour The standards were based on a planned activity of 20,000 machine hours when 5,000 units were scheduled for production. Actual data follow.
Answer:
he alloy produced more waste than normal, as evidenced by a direct-material quantity variance of $2,000U, and was also difficult to use. This slowed worker ...
1 answer
·
Top answer:
Favorable Direct-material price variance 9500 F Les...
Explanation:
Rohan wants to buy part of a company, and is interested in stocks. He knows that his favorite company, Apple, is traded on the stock market. Can he purchase stock in the company?
Answer:
Yes, he can buy stock in Apple.
Explanation:
A journal entry that debits Raw Materials and credits Accounts Payable is recording the ______.
A. sale of goods
B. issuance of materials into production
C. purchase of materials
D. completion of goods
When you see a journal entry that leads to a debit of Raw Materials and a credit of Accounts Payable, this is a C. purchase of materials.
What happens when materials are purchased?As materials are an asset, the raw materials account will be debited to show that raw materials are increasing.
If the Accounts Payable is credited, it means that it is increasing as well because it is a liability. The transaction was therefore done by buying the materials on credit.
In conclusion, option C is correct.
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To say that a price ceiling is nonbinding is to say that the price ceiling a. results in a surplus. b. is set above the equilibrium price. c. is set below the equilibrium price. d. causes quantity demanded to exceed quantity supplied.
Price ceiling is nonbinding when price is set above the equilibrium price.
What is price ceiling?
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price. When it is set above equilibrium price, it is nonbinding. When price is nonbinding, it is not effective.
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requiring Walmart to lower prices to ensure that small competing businesses are not disadvantaged is an example of
Answer:
It's an example of price control
Explanation:
Which of these term is often used to reflect ways in which organizations show appreciation
for diversity among job applicants, employees, and customers?
Answer:
valuing diversity
Explanation:
this is the most common term