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A business's accounting records can contain information about a transaction by creating a journal entry.
What does "journal entry explain" mean?Typically, the general ledger has a journal entry. Alternatively, it might be entered into a subsidiary ledger, rolled forward into the general ledger, and then summarized. Next, financial statements for the company are produced using the general ledger.Every company transaction should be recorded at least twice, which is double entry accounting, according to the reasoning underpinning journal entries. As an illustration, when you make a cash sale, both the revenue account and the cash account are increased. Alternatively, if you purchase items on credit, the inventory and accounts payable balances will both go up.A business's accounting records can contain information about a transaction by creating a journal entry.To learn more about journal entry refer to:
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Related Questions
JackMan Company produces diecast metal bulldozers for toy shops. JackMan estimated the following average costs per bulldozer: direct materials, $8.65; direct labor, $1.10; manufacturing overhead, $0.95. Prime cost per unit is a. $8.65 b. $1.10 c. $0.95 d. $2.05 e. $9.75
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Bulldozers made of diecast metal are made by JackMan Company for toy stores. He calculated the following average bulldozer costs: Direct labor is $1.10, direct materials are $8.65, and manufacturing overhead is $0.95. $9.75 is the prime cost per unit.
Direct labor plus direct materials equals the prime costs.
Direct costs are the first two costs, while prime costs are the total of the first two.
Prime Cost = Direct Material Cost plus Direct Labor Cost, which equals $8.65 plus $1.10, or $9.75.
Pay $9.75 for the prime.
Option e is the appropriate one.
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T/F the overabundance of information available on the internet has made it more difficult for consumers to compare product features and prices.
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Consumers now find it more challenging to compare product features and prices due to the plethora of information available online. This assertion is untrue.
What does an economic consumer mean?Consumers are those who consume products and services to fulfil their needs. You will act as a consumer while you eat your meal.Consumers can be divided into four categories: omnivores, carnivores, herbivores, and decomposers. Living things called herbivores rely solely on plants for their nutrition and energy needs. Herbivores include creatures like horses, whales, elephants, cows, pigs, and rabbits. Living things that only consume meat are called carnivores.Some people eat both vegetables and different animals. We refer to these shoppers as omnivores. Because they consume other living things, humans are consumers rather than producers. Consider what individuals consume. Although they might not have paid for it, consumers are always the ones who use a good or service in the end.To learn more about consumer, refer to:
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assume there are no transportation costs. with trade, the price of $15 brings about balance in exports and imports. at this price, 600 smartphones are traded. with trade, sweden produces smartphones and consumes smartphones, and norway produces smartphones and consumes
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Assume there are no expenses for transportation. The exchange rate in trade creates equilibrium in exports and imports. Smartphones are traded at this cost. Assume there are no expenses for transportation. The $22.5 price in commerce results in a balance between exports and imports.
How would you define transportation?
Transportation is the movement of people, products, and other objects between locations via a variety of ways.Any of the various forms of transport infrastructure that are used to move people or goods are considered means of transport. Vehicles, riding animals, and pack animals might be among them. Wagons, cars, bicycles, buses, trains, trucks, helicopters, boats, spacecraft, and airplanes are all examples of vehicles.
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a(n) blank is maintained for each financial statement item, whereas a(n) blank contains all of the accounts of the company.
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While a general ledger comprises all of the company's accounts, a separate account is kept for each line item on the financial statement.
What is a financial statement?The term "financial statement" refers to a document that presents organized, simply understandable formal records of all financial transactions and position of any institution, including businesses. To provide an accurate record of all business activity relevant to each financial statement item, an account is kept for each line item on the statement.
What Is a General Ledger?With debit and credit account entries verified by a trial balance, a general ledger serves as the mechanism for maintaining a company's financial data. It offers a record of each financial transaction that occurs during the course of an operational company's existence and maintains account data required to create the company's financial statements. Transaction data is divided into accounts for assets, liabilities, owners' equity, income, and expenses according to the type of transaction.
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mexico is one of the major trading partners of the united states and its economy (mexico) is currently experiencing an economic contraction with lower than expected gross domestic product. other things being equal, us exports to mexico will and gdp of the us will subsequently . group of answer choices none of the answers given is correct increase ; stay the same decrease ; decrease decrease ; increase stay the same ; increase
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Mexico exports to the US in bilateral trade. Mexico's top export market for goods is the United States.
What is the relationship between the United States and Mexico?
Additionally, between two-fifths and one-half of Mexican imports come from the United States, and about four-fifths of its exports go there.Contrarily, only approximately one-tenth of all U.S. trade is with Mexico. Vehicles, electronics, machinery, mineral fuels, and optics are Mexico's biggest exports to the US.The most in-demand product in the US market is automobiles from Mexico. Mexico is the United States' second-largest trading partner, and vice versa. More than 80% of the USD 373 billion in exports to Mexico in 2016 were bought by the United States.While 47% of USA imports went to Mexico, whose imports totaled USD 387 billion.To learn more about bilateral trade refer to:
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gunner company purchased a piece of equipment costing $6,000. she paid $1,000 immediately and put the rest on account. show how to record this transaction to the t-accounts by selecting the correct answer below.
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$1,000 on the right side of the Cash account, $5,000 on the Accounts Payable account's right side, and $6,000 on the Equipment account's left side.
The following is the journal entry for this specific transaction: $6,000 Equipment A/C Dr. $1,000 to cash a check $5,000 to Account Payable (It is noted when an item of equipment is purchased.)Since the equipment was acquired, it would appear on the debit side, whilst the other accounts would appear on the credit side because it increased the liabilities and decreased the cash balance.
Which of the following is true about adding transactions to the accounting equation?Which of the following is true about adding transactions to the accounting equation? The left side of the accounting equation must also grow if the total of the right side of the equation increases.
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Question:
Gunner Company purchased a piece of equipment costing $6,000. She paid $1,000 immediately and put the rest on account. Show how to record this transaction to the T-accounts by selecting the correct answer below.$6,000 on left side of the Equipment account; $5,000 on the right side of the Accounts payable account; $1,000 on the right side of the Cash account. $6,000 on the left side of the Equipment account; $6,000 on the right side of the Accounts payable account. $6,000 on the left side of the Equipment account; $6,000 on the right side of the Cash account. $6,000 on the right side of Equipment; $5,000 on the left side of Accounts payable; $1,000 on the right side of the Cash account.
an example of a(n) is the music industry, in which a few giant companies are behind many of the labels and artists known to consumers. group of answer choices proprietorship oligopoly monopoly conglomerate
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The pertinent situation where a few giant companies are behind many labels and artists known to consumers is example of an oligopoly.
Oligopoly is a market structure where it is dominated by a small number of large sellers.
Few example of Oligopoly are:-
Computer Industry , where only two names are existing till date which are windows and apple, they are controlling the whole market which makes it impossible for other competitiors to survive in the league.
Another example of Oligopoly would be the the car manufacturing industry where only few names dominate over the whole market such as Mercedes, BMW, Toyota etc.
Oligopoly is considered as a malpractice in path of growth of any set of industry.
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whereas markets were previously organized around the production and circulation of , scott lash and celia lury propose that today serve this function.
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Scott Lash with Celia Lury argue that "brands" now perform the role of the "commodities" that formerly served as the basis for market organization.
Explain the terms commodities and brands?Commodities;
A product is really a finished commodity sold to consumers, whereas a commodities is a raw material utilized in the production method to produce finished goods.A commodity that can be grown, collected, or mined does not gain any value.In addition to being purchased and sold in its physical forms, commodities can also be traded through exchanges through futures markets, stocks, and ETFs.Brands:
Products made by brands are distinctive and highly coveted by its customer base. Customers of theirs exhibit some brand loyalty by looking for those particular products in the marketplace. Customers that buy brands are less inclined to substitute goods based on availability + price. Customers that buy brands are less inclined to substitute goods based on availability + price. They don't care if a certain product is more widely available than their preferred brand.Thus, Scott Lash with Celia Lury argue that "brands" now perform the role of the "commodities" that formerly served as the basis for market organization.
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The correct question is-
Whereas markets were previously organized around the production and circulation of ____________, Scott Lash and Celia Lury propose that today ____________ serve this function.
economics; emotionsa company's ideology; participatory culturescommodities; brandsthings; symbolschoose the items below that would be subtracted from the book balance on a bank reconciliation. (check all that apply.) multiple select question. note collected by the bank for the depositor nsf customer check monthly bank service charge monthly check charges assessed by the bank interest earned on the depositor's account cleared checks outstanding checks need help? review these concept resources. rate your confidence to submit your answer.
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The items below that would be subtracted from the book balance on a bank reconciliation are NSF customer check, Monthly check charges assessed by the bank, Monthly bank service charge.
A bank reconciliation is what?A bank reconciliation statement links a company's bank account to its financial records by providing a summary of the business and banking accounts.
The statement contains a record of all deposits, withdrawals, and other financial transactions done with a bank within a particular time period. A bank reconciliation is a bookkeeping procedure used to reconcile a bank account's balance reported by the financial institution in the most recent bank statement to the balance recorded in the entity's books.
Any difference between the two figures must be looked into and, if necessary, corrected.
A record of all deposits, withdrawals, and other financial transactions made with a bank over a specific time period are included in the statement.
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moderation requires . multiple select question. choosing a variety of foods from all food groups planning your daily eating pattern paying attention to portion sizes of foods
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Requirement of Moderate Eating :
1. Choosing a range of foods from across all dietary groups is necessary for moderation.2. Organizing your daily meals, paying attention to food portionsDefine the term moderation in foods?The restraint of excess is the definition of moderation. In terms of nutrition, eating with moderation is the act of merely taking in as much food as your body needs to stay healthy.
Guidelines for Moderate Eating:
A smaller dish or bowl is preferable. Eat food from a serving plate rather than straight from the package so you can control how much you consume.Consume the portion size suggested on the nutrition label.To stay in touch with how you're feeling when eating, keep distractions like watching TV or using your phone to a minimum.Try eating slowly and with extra patience. Putting your dining utensil down between bites could be useful.To know more about the moderation, here
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the complete question is-
Explain the requirement of moderation?
this activity is important because marketing managers use the controllable marketing mix factors known as the 4ps to create value. the marketing mix factors which include product, price, promotion, and place (distribution) are the tools the marketing manager uses to develop a marketing program to reach consumers. The goal of this exercise is to demonstrate your understanding of the controllable marketing mix factors: product, price, promotion and place (distribution).
Identify which marketing mix factor is described in each example.
1. A friend recommends a new restaurant that you need to check out
(Click to select) Product Price Place (Distribution) Promotion
2. You pay your college tuition for this semester
(Click to select) Product Price Place (Distribution) Promotion
3. A new personal assistant app for the iPhone
(Click to select) Product Price Place (Distribution) Promotion
4. Walmart’s website offers thousands of products that you can purchase
(Click to select) Product Price Place (Distribution) Promotion
5. You pay $10 to park your car at the arena to see the big game
(Click to select) Product Price Place (Distribution) Promotion
6. Flyer for a lawn care company stuck in your mailbox
(Click to select) Product Price Place (Distribution) Promotion
7. Your aunt hosts a Thirty-One party at her house where she sells colorful bags and totes
(Click to select) Product Price Place (Distribution) Promotion
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figuring out which aspect of the marketing mix is discussed in each scenario. 1. A buddy suggests that you try out a brand-new eatery called Promotion. 2. You pay the price of this semester's college tuition.
3. An updated iPhone personal assistant software called Product. 4. Walmart's website features hundreds of items available for purchase. 5. Cost of parking at the arena to watch the big game is $10. 6. Promotional flyer for a lawn care company dropped in your mailbox. 7. Your aunt sells vibrant totes and purses at her house, where she also throws a Thirty-One party. Marketing describes the actions a business does to encourage the purchase or sale of a good or service. Advertising, selling, and delivering goods to customers or other firms are all included in marketing. Affiliates perform some marketing on behalf of a business.
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understanding context is an analytical skill best described by ?
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Adding descriptive headers to columns of data in a spreadsheet. Gathering additional information about data to understand the broader picture.
The ability to solve problems analytically allows you to go through data to come up with original, logical solutions. An analytical individual in the business concentrates on interpreting the data and applying logical thinking techniques to find a solution.
It's critical that you can effectively present your analytical talents on a resume because they are crucial in many professions. An excellent strategy to showcase your competency and possibly improve your chances of success is to give concrete examples that show off your analytical abilities.
"When I make a decision, I make sure I have all the necessary facts and apply logic and reasoning. I then weigh the many choices and gauge the possibility of each possibility using the information.
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Providing informative headers to a spreadsheet's data columns. collecting more information about the data to grasp the bigger picture.
The capacity to resolve issues Analytical thinking enables you to sort through facts to generate novel, sensible answers. An analytical person in the workplace focuses on analysing the facts and using logical thinking strategies to come up with a solution.
Your ability to properly showcase your analytical skills on a resume is essential because they are necessary in many jobs. Giving specific instances that demonstrate your analytical skills is a great way to demonstrate your proficiency and perhaps increase your chances of success.
"Before I decide, I check to see that I have all the required information and use logic and reasoning. I use the knowledge to assess my various options and determine how likely each option is.
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Note: The correct question would be as bellow,
What do you understanding context is an analytical skill best described by ?
in your own words, summarize some of the positive and negatives associated with demand-side policies:
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Evaluation of Monetary Policy and Flexible labour markets are positive and Rapid government spending and interest rate decreases are negatives associated with demand-side policies.
An rise or decrease in the rate is neither good nor negative. It serves more as a barometer for the state of the American economy as a whole. Focus on achieving your long-term saving and debt repayment objectives one at a time rather than freaking out when it changes. The amount that the lender charges the borrower over and beyond the principle amount is known as the interest rate. People will soon start cutting back on their expenditures since rising interest rates translate into greater borrowing expenses. Inflation will therefore decrease as a result of a decline in the demand for goods and services. In a similar vein, the Fed has been raising rates all year to battle the expected rise in inflation in 2022.
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The conversion period is 31 days after termination from group coverage. This means the individual must apply for individual coverage within 31 days after the date of group coverage termination. The extension does not apply because Tim notified his employees of the conversion right.The correct answer is:
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If the group life insurance policy or coverage for a class of insureds ends, insureds who have been covered under the group life insurance policy for at least three years may convert $10,000 or the amount of terminating group life insurance, whichever is less.
What is the life insurance conversion period?A term-to-permanent life insurance conversion, often known as a "term-to-perm" conversion, allows you to increase the length of your life insurance coverage. You may currently hold a 10-, 15-, 20-, or 30-year term life insurance policy. Rather than letting it lapse, you may be able to switch it for a permanent insurance without having to undergo a new medical exam.
A conversion privilege ensures coverage and fixed premium payments for a predetermined number of years regardless of the health of the insured.
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indicate whether each of the following statements is true or false. statement true false 1. there can be no gains from trade between two countries if one of them has an absolute advantage in the production of all goods. 2. comparative advantage determines the gains from specialization and trade. 3. if a certain trade is good for one country, it can't be good for the other country. 4. two individuals can benefit from specialization and trade if they agree upon a price that lies between their opportunity costs of producing the good. 5. when a country opens to trade, people working in industries producing goods that the country exports are harmed by the trade.
Answers
There can be no gains from trade between two countries if one of them has an absolute advantage in the production of all goods.- False
Give a brief account on comparative advantage.If an economy can produce a particular good or service at a lower opportunity cost than its trading counterparts, it has a comparative advantage.Trade is favorable for firms, governments, and people alike, according to the comparative advantage principle. Comparative advantage, when used to describe international trade, refers to the goods that one country can produce more easily or more affordably than another. While this typically demonstrates the positive effects of trade, some modern economists also recognise that concentrating simply on comparative advantages can lead to resource exploitation and depletion in a nation. David Ricardo, who wrote "On the Principles of Political Economy and Taxation" in 1817, is typically credited with developing the law of comparative advantage. However, James Mill, Ricardo's mentor and editor who also wrote on the topic, may have been the first to propose the concept of comparative advantage.
Solution to the question :
1. There can be no gains from trade between two countries if one of them has an absolute advantage in the production of all goods.- False
2. Comparative advantage determines the gains from specialization and trade. - True
3. If a certain trade is good for one country, it can't be good for the other country. False
4. Two individuals can benefit from specialization and trade if they agree upon a price that lies between their opportunity costs of producing the good. True
5. When a country opens to trade, people working in industries producing goods that the country exports are harmed by the trade. - False
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while the motor carrier industry does not receive any direct government promotion, they still benefit from
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the fact that most highway projects are done actually the motor carrier industry uses three times more fuel than the airlines.
Economic interdependence leads to more trading opportunities. Increased trade among countries promotes the exchange of goods and creates more earning opportunities at the national and international levels among various modes of transport road,rail,aviation,and navigation road transport is the largest consumer of diesel and petrol fuel energy in the country.so first of all, we are supposed to know that the most important factor which competes with the motor carrier is the transportation of vehicle through rules for short-distance deliveries the road transport is the most cost-efficient mean of transport.A common carrier is a person or a commercial enterprise that transports passengers or goods for a fee and establishes that their service is open to the general public.Typical examples of common carriers include, a shipowner,railroad, airline, taxi service, etc.A common carrier is a private or public entity that transports goods or people for a fee.Utility companies and telecommunications companies also are considered common carriers.
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an example of a business using information systems for supplier intimacy is: group of answer choices citibank's atm system. apple's creation of the ipad. verizon's web-based digital dashboard providing real-time company information for managers. the mandarin oriental's use of computers to keep track of guests' preferences. jcpenney's information system that allows its contract manufacturers to see what garments have been sold and need to be replaced.
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The answerable option is option B. The database maintained by JCPenney informs its contract manufacturers as to which clothing has been sold and thus needs to be replenished.
Information systems can also improve consumer and supplier intimacy. This method strengthens company-supplier-customer relationships. It strengthens connections and commercial loyalty. The company will value customers and suppliers more.
Toyota uses supplier intimacy. Toyota, like other automakers, gives suppliers production schedules. This helps vendors know when to deliver parts and supplies without having to discuss orders. This technique speeds up production because the supplier can produce and dispatch the goods to Toyota in time for vehicle production.
Amazon uses customer intimacy. Based on customer searches and purchases, Amazon recommends products. Amazon also recommends products based on what other customers bought with the same or comparable product.
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The right way of asking the question is:
An example of a business using information systems for supplier intimacy is:
A) Apple's creation of the iPad.
B) JCPenney's information system allows its contract manufacturers to see what garments have been sold and needs to be replaced.
C) Citibank's ATM system.
D) Verizon's web-based digital dashboard provides real-time company information for managers.
E) the Mandarin Oriental's use of computers to keep track of guests' preferences.
a supply ship simultaneously fires two aid packages with different initial speeds at two different ships. the packages follow the parabolic trajectories shown. 1)which ship gets hit first? ship 1 ship 2 both at about the same time
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The supply ship simultaneously fires two aid packages with different initial speeds at two different ships. The packages follow the parabolic trajectories hit both ships at the same time approx.
What is parabolic trajectories?A parabolic trajectory in astrodynamics or celestial mechanics is an unbound Kepler orbit with an eccentricity of 1, which is exactly on the threshold between an elliptical and a hyperbolic orbit. An escape orbit, or a capture orbit in the alternative, is one that is travelling away from the source. Other names for it include a C3 = 0 orbit (see Characteristic energy). According to accepted theories, a body on an escape orbit will cruise along a parabolic trajectory to infinity, with velocity with respect to the central body tending to zero, and won't ever come back. Positive-energy hyperbolic trajectories and negative-energy elliptic orbits are separated by parabolic trajectories, which are minimum-energy escape paths.
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concerning the management of foreign exchange risk, some business firms do not hedge at all either because they cannot determine how much money will be coming in from abroad, or because they have a deliberate strategy of allowing currencies to balance each other out around the world.concerning the management of foreign exchange risk, some business firms do not hedge at all either because they cannot determine how much money will be coming in from abroad, or because they have a deliberate strategy of allowing currencies to balance each other out around the world. T/F
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Concerning the management of foreign exchange risk, some business firms do not hedge either because they cannot determine how much money will be coming in from abroad, or because they have a deliberate strategy of allowing currencies to balance is true.
What does "management of foreign exchange" mean?Foreign exchange markets are crucial in order to promote cross-border investment, trading, and financial activity. Using these markets, businesses can convert their current currency or deposit into the one they want to use for foreign exchange operations.
In order to facilitate Indian trade and payments overseas, the Foreign Exchange Management Act, or FEMA, was principally developed. Additionally, it was designed to aid in the orderly expansion and maintenance of India's foreign exchange market. There are three types of foreign exchange risk: transactional, translational, and economic.
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Explain in which era of marketing that Awake Chocolate currently resides. Describe some ways in which the
company can move beyond the current stage into the next era of marketing.
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Answer:
Awake Chocolate currently resides in the era of digital marketing. This era is characterized by a focus on digital platforms such as search engine optimization, social media, and online advertising. The company can move beyond this stage by utilizing data analytics to understand customer preferences and buying habits, and to optimize campaigns and strategies. Additionally, they can further utilize artificial intelligence to personalize messages to customers, automate marketing processes, and develop more effective content. Finally, they can also expand their use of virtual reality and augmented reality to create more immersive and engaging experiences for customers.
Explanation:
Which of the following is not one of the IT innovations changing the world of business today?A) IoTB) Big dataC) The mobile digital platformD) Cloud computingE) Business intelligence
Answers
Another of the following advancements in IT that is not currently impacting the corporate landscape is cloud computing.
What is the most accurate way to define business?A business is an organization or entrepreneurial entity involved in the financial, industrial, or commercial world. Businesses can only be for-profit entities or nonprofit organizations. There are many different types of businesses, including corporations, partnerships, limited liability companies, and sole proprietorships.
Why is business important? What is business?The business sector is where jobs are found. In any nation, it generates job possibilities for a sizable number of individuals. Both managerial and technical professions in company demand a variety of workers. The growth of trade and industry is assisting in addressing the nation's employment issues.
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the following histogram represents the distribution of acceptance rates (percent accepted) among 20 top business school mba programs in 2015. in each class interval, the left endpoint is included but not the right. the histogram shows the acceptance rate at the x-axis from 0 to 50 with intervals of 10, and frequency on the y-axis from 0 to 8 with intervals of 2. it shows that the acceptance rate is constant with a frequency of 3 in the intervals 15 to 20, 20 to 25, and 35 to 40. the acceptance rate between 30 and 35 shows a frequency value of 2. the highest frequency is 6, which is displayed in the interval 25 to 30, and lowest frequency is 1, which is provided in the intervals 5 to 10, 10 to 15 and 40 to 45. the intervals 0 to 5 and 45 to 50 show a frequency of 0.
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The histogram displays the 2015 admission rates for the top 20 business schools. The acceptance rates, which range from 0 to 50, are arranged into intervals of 10 on the x-axis.
How the histogram is determined?On the y-axis, the acceptance rates' frequency is displayed, with intervals of 2 ranging from 0 to 8. The acceptance rate is consistent between the ranges of 15 to 20, 20 to 25, and 35 to 40, with a frequency of 3. The intervals 5 to 10, 10 to 15, and 40 to 45 have the lowest frequency of 1, while the period 25 to 30 has the greatest frequency of 6. The frequency of the ranges 0 to 5 and 45 to 50 is 0.
The bins are often defined as a series of discrete intervals that don't overlap. The bins (intervals) must be next to one another and are frequently (but not always) the same size. The height of each rectangle in a histogram is calculated as a function of the amount of data points that fit into that bin. The amount of data points always equals the entire area of a histogram.
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many companies use a variety of media advertising to communicate to diverse audiences rather than personally selling the product because it ______.
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Instead of personally selling the goods, many businesses employ a range of media to reach out to a variety of consumers because it lowers the overall cost of sales.
What is meant by overall cost?The total cost is the sum of the variable and fixed costs. For instance, the total cost will be $35 if a company has a fixed cost of $30 per unit and a variable cost of $5 per unit when they raise their output. Total cost is the term used to describe the total cost of ownership, which takes into account the initial cost of an asset as well as the costs of continuous operations, maintenance, and repairs, as well as the benefit of any residual value. a ballpark figure for how much a task, demonstration, or programme will cost overall. The total projected cost is different from a planning estimate in that it is based on concrete details about the technical scope, contracting strategies, timetable, and resource demands.To learn more about overall cost, refer to:
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se the following comparative balance sheets and additional information to answer questions (1) through (4).
MKH Company
Comparative Balance Sheets
For the year ended December 31
20X1
20X0
Change
Current assets
Cash
$324,700
$217,600
$107,100
Accounts receivable
132,600
165,200
(32,600)
Inventory
175,100
137,200
37,900
Prepaid rent
25,500
14,400
11,100
Total current assets
$657,900
$534,400
$123,500
Long-term assets
Land
$326,400
$345,600
($19,200)
Equipment (net)
321,300
356,300
(35,000)
Total long-term assets
$647,700
$701,900
$(54,200)
Total assets
$1,305,600
$1,236,300
$69,300
Current liabilities
Accounts payable
$145,800
$131,200
$14,600
Salaries payable
18,700
4,800
13,900
Interest payable
32,300
27,200
5,100
Total current liabilities
$196,800
$163,200
$33,600
Long-term liabilities
Bonds payable
$321,400
$469,800
($148,400)
Stockholders' equity
Common stock
$535,800
$434,900
$100,900
Retained earnings
251,600
168,400
83,200
Total liabilities and equity
$1,305,600
$1,236,300
$69,300
Additional Information for MKH Co. in 20X1:
1. Net income for year 20X1 was $216,000.
2. The company declared and paid a cash dividend of $132,800.
3. The only posting to the net equipment account was for depreciation expense of $35,000 (i.e., no equipment was sold).
4. MKH sold land worth $19,200 for $8,000 cash.
5. The company retired $148,400 worth of bonds payable at the beginning of the year.
1. What was the loss on the sale of land recorded by MKH Company in 20X1?
$11,200
$8,000
$0
$19,200
2. What were MKH Company's cash flows from (for) operating activities in 20X1?
$268,200
($180,300)
$279,400
$233,100
3. What were MKH Company's cash flows from (for) investing activities in 20X1?
$11,200
$0
$19,200
$8,000
4. What were MKH Company's cash flows from (for) financing activities in 20X1?
($47,500)
($97,100)
($180,300)
($116,500)
Answers
With the help of the MKH Company additional information and Comparative Balance Sheets the answers to the questions are as follows:
1. MKH Company registered a loss on the sale of the property in 20X1 of $11,200. (Land worth $19,200 sold for cash at a price of $8,000)
2. The cash flows from operating activities of MKH Company in 20X1 are $268,200. (Net Income of $216,000 plus Depreciation of $35,000 – Change in Accounts Receivable of $(32,600) – Change in Inventory of $37,900 – Change in Prepaid Rent of $11,100)
3. The $8,000 in cash flows from investment operations in 20X1 at MKH Company. ($8,000 in cash was earned from the selling of land)
4. The cash flows from financing activities of MKH Company in 20X1 are $. (180,300). (Dividends received in cash of $132,800 plus bonds repayable of $148,400)
The net income for MKH Company in 20X1 is $216,000. $132,800 in cash was distributed as a dividend by the corporation. Operating activity cash flow is $268,200, investment activity cash flow is $11,200, and financing activity cash flow is ($180,300).
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which of the following serves as an intermediary channeling the savings of individuals, businesses, and governments into loans and investments?
a) Financial markets
b) Financial institutions
c) Securities Exchanges
d) OTC markets
Answers
Financial institutions act as a middleman, converting individual, corporate, and governmental savings into loans and investments.
Consumers and businesses rely on financial institutions for transactions and investments. As a result, financial institutions serve the vast majority of people. Because of their critical role in the economy, governments see the supervision and regulation of banks and other financial institutions as critical. Failures of financial institutions have historically caused panic.
The Federal Deposit Insurance Corporation (FDIC) insures regular bank accounts in the United States to reassure people and businesses about the security of their money with financial institutions. The financial sector of a country is critical to its overall economic stability. A bank run could easily occur if a financial institution loses customers.
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cyrus has a good job and can afford an apartment with comfortable furniture and plenty of food. but because of political unrest and street violence in his town, he is considering uprooting himself and applying for a visa to move to another country. according to maslow, cyrus' concern reflects a desire to satisfy his
Answers
According to maslow, cyrus' concern reflects a desire to satisfy his safety needs.
Abraham Maslow, an American psychologist, proposed that a hierarchy of psychological needs underlies human decision-making in a 1943 paper titled "A Theory of Human Motivation." Maslow suggested that five basic needs serve as the foundation for human behavioral motivation in both his initial paper and the book Motivation and Personality that followed in 1954.
Basic needs are located at the base of the pyramid and higher-level, intangible needs are located at the top according to Maslow's theory. When one's basic needs are sufficiently met, they can then proceed to addressing higher-level needs.
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Imagine you are a team of marketing managers at a large consumer packaged-goods company, and you're planning the launch of a new line of shampoo. With which departments in your company will you need to work to plan the launch, and what role will each department play?
Answers
A company-wide effort is needed, involving divisions like product development, marketing, sales, customer service, and HR.
Explain about the departments are involved in a product launch?The process of organizing, carrying out, and monitoring a product's introduction to the market is known as a product launch.
A product launch is an organized effort to introduce a new product to the market. The creation of marketing and sales plans as well as product optimization are all part of a product launch, which is more than simply one event. Depending on the sector, product category, and target market, each product launch will be unique.
A successful market release requires the coordination of all strategic initiatives, which is what product launch management entails. Product launch tactics vary depending on the business and the industry, but several elements are universal: Developing the launch's marketing, PR, and advertising efforts.
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given the following tax structure, what minimum tax would need to be assessed on shameika to make the tax progressive with respect to average tax rates? taxpayer salary muni-bond interest total tax mihwah $ 10,000 $ 10,000 $ 600 shameika $ 50,000 $ 30,000 ???
Answers
Given the following tax structure, $3,000 minimum tax would need to be assessed on Shameika to make the tax progressive with respect to average tax rates.
A progressive tax rate is one in which the marginal tax rate rises in proportion to the tax base.
Mihwah is paid less than Shameika. Her tax is $600, so her average tax rate (Total Tax/Taxable Income) equals 600/10,000 = 6%.
Shameika, with a higher wage, must have an average tax rate greater than 6%, with a minimum of 6% x 50,000 = 3,000. As a result, her total tax must be greater than 3,000 in order for this tax structure to be Progressive.
A progressive tax is one in which the tax rate rises in proportion to the taxable amount. The phrase progressive refers to the manner in which the tax rate rises from low to high, resulting in a taxpayer's average tax rate being less than the person's marginal tax rate.
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Which of the following procedures are followed in applying the fair-value method of accounting for an investment in another firm's equity securities?
i. Changes in the fair value of equity securities owned during a period are reported as income.
ii. The initial investment in equity securities is recorded at cost.
iii. The investment account is increased for the amount of the investee's reported income.
iv. Dividends declared on the equity securities owned are recorded as an increase in fair value.
Answers
Option ii is Correct. If the fair-value method of accounting is used to account for an investment in the equity securities of another company, the original investment in equity securities is recorded at cost.
What does the fair value technique of investment accounting entail?Certain assets and liabilities are recognized using fair value accounting, which bases those recognitions on current market values. According to current market conditions, fair value is the projected price at which an asset can be sold or an obligation can be paid with a third party in an orderly transaction.
When an investor owns less than 20% of the outstanding shares of a company and has little or no influence, the fair value technique is applied. The corporation would categorize the investment when applying the fair value technique.
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Contingent liabilities that are probable but cannot be reasonably estimated are disclosed in the:
a.notes to the financial statements.
b.retained earnings section of the statement of stockholders' equity.
c.long term-liabilities section of the balance sheet.
d.current liabilities section of the balance sheet.
Answers
Contingent liabilities that are probable but cannot be reasonably estimated are disclosed in the current liabilities section of the balance sheet. A contingent liability company is one that may arise as a result of the outcome of a specific event.
It is a potential obligation that may or may not exist depending on how a future event plays out. When a contingent liability can be estimated, it is recorded; otherwise, it should be disclosed. Current and contingent liabilities are both critical financial issues for a company. The primary distinction between the two is that a current liability is an amount you already owe, whereas a contingent liability is an amount you may owe depending on how certain events unfold.
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