An income statement's objective is to demonstrate whether a business made a profit or a loss during the reporting period.
What is an income statement?A company's revenue and expenses for a given period of time, usually a month, quarter, or year, are reported in an income statement, also known as a profit and loss statement.
Req 3A
WELLS TECHNICAL INSTITUTE
Income Statement
For Year Ended December 31, 2017
Revenues:
Tuition fees earned $120,552
Training fees earned $45,302
Total revenues $165,854
Expenses:
Depreciation expense – Equipment $13,871
Depreciation expense – Teaching supplies $6,936
Salaries expense $7,704
Rent expense $51,815
Utilities expense $25,716
Total expenses $105,042
Net income $60,812
Req 3B
WELLS TECHNICAL INSTITUTE
Statement of Owner's Equity
For Year Ended December 31, 2017
Capital, January 1, 2017 $224,356
Add: Net income for the year $60,812
Less: Withdrawals during the year $25,000
Capital, December 31, 2017 $260,168
Req 3C
WELLS TECHNICAL INSTITUTE
Balance Sheet
As of December 31, 2017
Assets:
Cash $58,988
Accounts receivable $11,880
Prepaid rent $7,498
Teaching supplies $13,805
Equipment $309,524
Less: Accumulated depreciation $42,848
Total assets $359,847
Liabilities:
Accounts payable $15,475
Salaries payable $7,498
Unearned tuition fees $15,575
Total liabilities $38,548
Owner's equity:
Capital $260,168
Therefore, total liabilities and owner's equity $359,847.
Learn more about income statement here:
https://brainly.com/question/28035395
#SPJ1
Data recently collected from Orlando reveals that when the price of a Universal Studios ticket increased by 25%, the quantity of local area car rentals fell by 30%. Which of the following statements must be TRUE based on this information? Universal Studios tickets and car rentals are substitutes. Universal Studios tickets and car rentals are unrelated. The demand for Universal Studios tickets are price elastic Universal Studios tickets are a luxury good. Universal Studios tickets and car rentals are complements.
The option e "Universal Studios tickets and car rentals are complements." must be TRUE based on this information. This is true because when the price of one item goes up, the demand for its complement will go down. So the option e is correct.
When the price of one item rises, so does the demand for its complement. Since the increase in price of Universal Studios tickets led to a decrease in car rentals, it follows that the two are complements.
For example, if the prices of Universal Studios tickets go up, people may be less likely to rent a car to get to the park, decreasing the demand for car rentals. This in turn could decrease the prices of car rentals near Universal Studios.
To learn more about demand link is here
brainly.com/question/30402955
#SPJ4
next, you and liz discuss some of the problems that can occur in the various phases in the decision-making process. for example, when defining the problem, liz should be careful:
We commonly observe specific instances of logical decision-making when making significant life decisions. It adheres to a strict procedure founded on logic and factual data.
Rational decision-making is the opposite of intuitive decision-making It requires recognizing the problem that has to be solved, gathering data, finding options and outcomes, evaluating them, considering all the linkages, and coming to a decision. Examples include choosing what to do with your life after high school, expanding your business significantly, or moving your family. Decision-making, which is also spelled decision-making, is the cognitive process that leads to the choice of a belief or a plan of action from a wide range of viable alternative possibilities. It might be both illogical and sensible at the same time. At the conclusion of any decision-making process, a decision is reached, and that decision may or may not result in action.
Learn more about Rational decision-making here:
https://brainly.com/question/28265821
#SPJ4
lisa is a manager at trell inc. when she hires her employees, she focuses on finding the right job for the right person. which of the following pay plans is her employer most likely using?
Lisa is a manager at Trell Inc. When she hires her employees, she focuses on finding the right job for the right person. The pay plans that her employer is most likely using is job-based pay plan.
What type of plan is job-based pay plan?A job-based pay plan is a type of compensation system in which an employee's pay is based on the specific job they perform. The focus of this pay plan is on the job duties and responsibilities of a particular position rather than the individual employee's performance or skills.
Under a job-based pay plan, employees in similar roles are generally paid the same rate, with salary ranges typically established based on factors such as the job's level of responsibility, required skillset, and market demand for the position. This can help to promote fairness and consistency in pay across the organization and reduce the potential for pay discrimination.
Read more about job-based pay plan
brainly.com/question/6981846
#SPJ1
Prepare the 2021 statement of cash flows for Smolira Golf Corp. (Negative answers should be indicated by a minus sign.) \begin{tabular}{|l|} \hline \multicolumn{1}{|c|}{ SMOLIRA GOLF CORPORATION } \\ \hline Statement of Cash Flows \\ \hline Fash, beginning of the year \\ \hline Operating activities \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Net cash from investment activities \\ \hline Financing activities \\ \hline \end{tabular}
The 2021 statement of cash flows for Smolira Golf Corp. will include a section for cash flows from operating activities, net cash from investment activities, and financing activities.
What is cash flow?Cash flow is the movement of money into and out of a business, individual, or other entity. It is the net amount of cash and cash-equivalents being transferred into and out of an organization. Cash flow can refer to the money flowing in and out of business activities, such as operating, investing, and financing activities, as well as any other external sources of money entering or leaving the company.
The cash flows from operating activities will include the cash generated from sales and other income, as well as the cash used to purchase inventory and pay expenses. The net cash from investment activities will include the cash generated from any investments made during the year, such as the sale or purchase of fixed assets. The financing activities will include the cash generated from any borrowing or other financing activities, such as the issuance of debt or equity. Finally, the statement will also include the cash balance at the beginning of the year.
To learn more about cash flow
https://brainly.com/question/24179665
#SPJ1
which of the following primary data techniques would be best suited to gathering reliable data in a target population of young children?
In general, interviews and focus groups are considered to be more acceptable and successful than surveys when gathering data directly from children.
Why focus groups are preferable to surveysStudying through surveys - Surveys are less customized and participative, but they can also be more cost-effective and produce more quantifiable data that is simple to analyze. Focus groups often lead to fruitful discussions, but they may be expensive and time-consuming, and they can also produce qualitative data that is occasionally harder to comprehend.
What advantages do child focus groups offer?Focus groups can help researchers learn about the viewpoints, original ideas, and insights of kids that are typically overlooked in more traditional pediatric research. Another cutting-edge technique for learning about children's experiences from a developmental perspective is focus groups.
Learn more about Focus groups: https://brainly.com/question/13024118
#SPJ4
The complete question is:
which of the following primary data techniques would be best suited to gathering reliable data in a target population of young children?
(a). interviews
(b). focus groups
(c). Surveys
blossom enterprises provides the following information relative to its defined benefit pension plan projected benefit obligation $2,762,100
projected benefit obligation (PBO) defined benefit pension plan is a retirement plan in which an employer promises to pay.
The benefit is typically based on a formula that takes into account the employee's years of service, age, and salary at retirement.The projected benefit obligation (PBO) is the present value of the future payments that the employer is obligated to make to employees under the terms of the defined benefit plan. The PBO is calculated using actuarial assumptions about the future, including interest rates, employee turnover, mortality rates, and other factors.In the case of Blossom Enterprises, the company's defined benefit pension plan has a projected benefit obligation of $2,762,100. This means that, based on the assumptions used to calculate the PBO, the company expects to pay out a total of $2,762,100 in retirement benefits to its employees over time.To fund the plan, Blossom Enterprises will need to contribute funds to the plan on a regular basis. The amount of the required contributions will depend on a number of factors, including the PBO, the current funding status of the plan, and the investment returns earned by the plan assets.
learn more about projected benefit obligation here:
https://brainly.com/question/28942294
#SPJ4
Why might a company invest in the securities of another company?
A company may invest in the securities of another company for a variety of reasons, including potential financial gain, diversifying their portfolio, or access to new technologies or markets. For example, a company may purchase stocks in another company to gain access to their expertise or access to new products.
Learn more about invest
brainly.com/question/15353704
#SJ111
when setting up displays and arranging products, how many inches must be maintained for a clea erpath in all asiles, depatmens and distances between fixed shelves
It is necessary to plan open office spaces to create two exits with obvious, continuous paths. The minimum aisle width for life safety considerations in shared office spaces with established aisles between desks or cubicles is 28 inches, or 32 inches if wheelchair access is needed.
How do you define products?A product is the item that is being sold. A product can be either an item or a service. Each product has a price and a cost connected with it. The price that can be charged is influenced by the market, the product's quality, its marketing, and the target market. You cannot use any of the other three components of the marketing mix if you don't have a product. Furthermore, outstanding items are simple to advertise because they fulfil both needs and wants.
What is characteristic of a product?Product characteristics are the tangible qualities of the item that need to be controlled. Size, form, weight, colour, quality, hardness, and other attributes are a few examples of product qualities. Depending on your product and how its functional design criteria have been developed, the list of product attributes may vary.
To know more about Product visit:
https://brainly.com/question/22852400
#SPJ4
Don and Kim have entered into a contract for the purchase of a car. Don has paid money for the car, but Kim has not yet delivered it. This is an:
a. implied contract
b.illusory contract
c.executed contract
d.executory contract
Option D is correct. This is an executory contract.
What is an executory contract?
An executory contract is an ongoing arrangement between two parties that places certain duties on them to be fulfilled over a predetermined time frame. They are contracts in writing that guarantee each party is aware of their obligations as well as those of the other.
What are the basic types of contracts?Fixed-price and cost-reimbursement contracts are the two primary categories that are most frequently used in federal government contracts. Incentive contracts, time-and-materials agreements, labor-hour agreements, contracts for indefinite delivery, and letter agreements are other contract forms.
To know more about executory contract visit: brainly.com/question/29780148
#SPJ4
the formula to compute the profit margin of a company is (net income/accounts receivable/net sales) divided by (net income/cash/net sales). True or False
The formula used to determine a company's profit margin, which divides net income/accounts receivable/net sales by net income/cash/net sales, is flawed. Thus, it is true.
What is meant by Profit Margin?By dividing revenue by income, the profit margin can be used to calculate how much money a firm or business activity makes. The profit margin, which can be stated as a percentage, indicates how much profit was produced for each dollar of sales.
Profitability is assessed using the profit margin. By computing profit as a percentage of revenue, it is determined. . Low profit margin firms are nevertheless capable of surviving. Profit margins could be positive or negative.
Therefore, it is true that profit margins are typically expressed as percentages. For instance, a business would have a 60% profit margin and a profit margin of $0.60 per dollar of revenue.
Learn more about Profit Margin here:
https://brainly.com/question/28212891?
#SPJ1
TRUE/FALSE. a strategy in system analysis and design in which the project is reviewed after each phase and continuation of the project is rejustified.
TRUE. The mentioned technique, sometimes referred to as the "phased approach" or "phased development," is typical in system analysis and design. With this method, the project is broken up into numerous phases,
The process of researching and evaluating complex systems to find issues, inefficiencies, and potential areas for change is known as system analysis. It entails disassembling a system into its component parts and analysing how these parts work together to accomplish a shared objective. System analysis seeks to pinpoint the underlying problems that impact a system's efficacy and efficiency and then makes recommendations for how to address these problems. Identifying user requirements, creating software and hardware, modelling system behaviour and performance, testing and verifying system functioning are all common steps in system analysis. System analysis is a crucial step in creating high-quality systems that satisfy stakeholders' and end-users'
Learn more about system analysis here:
https://brainly.com/question/30067449
#SP4
For publicly traded firms, these ratios measure what investors think of the company's future performance and risk.
A. Liquidity ratios
B. Market value ratios
C. Price value ratios
D. Profitability ratios
The correct answer is B. Market value ratios. Market value ratios are used by investors to determine how the stock market values a company.
Market value ratios provide insights into investors' expectations for a company's future performance and risk. These ratios include the price-to-earnings ratio (P/E ratio), which compares a company's stock price to its earnings per share, and the price-to-book ratio (P/B ratio), which compares a company's stock price to its book value. A high P/E ratio suggests that investors expect the company to have strong future earnings growth, while a low P/E ratio suggests the opposite. Similarly, a high P/B ratio implies that investors believe a company's assets are undervalued, while a low P/B ratio suggests the opposite. Other market value ratios include the market-to-book ratio (M/B ratio), which compares a company's market value to its book value, and the dividend yield ratio, which measures the return on investment through dividends paid by the company. In summary, market value ratios provide valuable insights into investors' perceptions of a company's future prospects and risks, which are important considerations when making investment decisions.
Learn more about dividends here:
https://brainly.com/question/29510262
#SPJ4
an organization that attempts to catch errors/issues in the earliest stage are utilizing the principles of what
An organization that attempts to catch errors/issues in the earliest stage are utilizing the principles of HRO.
Five fundamental HRO principles—deference to knowledge, reluctance to simplify, sensitivity to operations, dedication to resilience, and preoccupation. With failure—are fundamental to the success of any improvement programme HRO. The simplest diagnosis is frequently taken into consideration by the team while assessing a patient in high reliability deference.
Which seek to simplify procedures where necessary to increase patient safety. HROs are averse to oversimplifying problem interpretations or explanations. deference that successfully execute their tasks in the face of extreme complexity and risk are known as high-reliability organisations (HROs). Examples include the Air Traffic Control system operated by the Federal Aviation Administration, aircraft carriers, nuclear power facilities, and NASA.
To learn more about HRO, click here.
https://brainly.com/question/22376782
#SPJ4
both small and big businesses can benefit from using big data in their organization. which of the following are ways businesses could use big data to their advantage?
Both small and big businesses can benefit from using big data in their organization because big data can be easily collected and analysed in real-time regarding customer behavior to then implement real-time solutions.
What is Business?A business is an organization formed to earn profit by selling goods and commodities to their customers.
Big data can also be used to forecast weather, natural disasters, urban and community planning, traffic management, logistics and machine efficiency, personalized healthcare, customized learning, autonomous vehicles, fraud detention, translation, smart homes, robotics, etc. also it helps business to harness their data and use it to identify new opportunities.
Therefore, Big amount of data can be easily collected and analyzed in real-time considering customer behavior to then utilize real-time solutions.
Learn more about Business, here;
https://brainly.com/question/15826604
#SPJ1
Which one of the following is NOT a way to attract bigger numbers of online shoppers in the Latin America region to purchase a company's brand of athletic footwear? O Charge an average retail price that is below the industry average for Latin America OOffer a higher mail-in rebate than most all other rivals competing in the Internet segment in the Latin America region OSpend an amount on brand advertising that exceeds the industry average for Latin America O Produce and market branded footwear with an S/Q rating that exceeds the industry average for Latin America O Offer online shoppers a number of models/styles that exceeds the industry average for Latin America Copying, redistributing, or website posting is expressly prohibited and constitutes copyright violation. Copyright 2018 by Glo-Bus Software, Inc.
Spend more on brand advertising than the Latin American industry average.
This will benefit the product as a whole but will have no more influence on the product's online part; instead, the focus should be on the online sector in order for it to be successful in this context.
What is the primary goal of advertising?Advertising is the activity and methods used to bring attention to a product or service. Advertising attempts to draw attention to a product or service by highlighting it. It is frequently used to advertise a certain product or service, although it has a wide range of uses, the most common of which is commercial advertising.
The goal of advertising is to inform consumers about their product and persuade them that a company's services or products are the best, to improve the company's image, to highlight and create a need for products or services, to demonstrate new uses for established products, and to announce new products and programs.
To learn more about advertising, click
https://brainly.com/question/3163475
#SPJ1
a pension fund manager is considering three mutual funds. the first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a t-bill money market fund that yields a sure rate of 5.5%. the probability distributions of the risky funds are: expected return standard deviation stock fund (s) 17% 32% bond fund (b) 11% 23% the correlation between the fund returns is 0.25. problem 6-8 (algo) required: what is the expected return and standard deviation for the minimum-variance portfolio of the two risky funds? (do not round intermediate calculations. round your answers to 2 decimal places.)
The standard deviation would be 35%.
What is standard deviation?Standard deviation is a statistical measure that describes the amount of variability or dispersion in a set of data. It measures how much the data values differ from the average or mean value of the data set.
A smaller standard deviation indicates that the data points tend to be closer to the mean, while a larger standard deviation indicates that the data points are more spread out.
In the above case, the standard deviation would be 35%.
Learn more about standard deviation here:
https://brainly.com/question/13905583
#SPJ1
chapter 5 homework principals of microeconomics
Elasticity of demand is the rise or fall in demand for a good resulting from a change in the good's price. If demand varies significantly when prices vary, it is considered to be elastic.
What is Elasticity of demand?
The quantity requested for a good depends on how sensitively it responds to its price. When prices rise, almost all products see a fall in demand; however, certain products see a bigger decline in demand than others. A 1% price rise, while holding all other variables equal, will result in a given percentage change in the quantity needed. If the elasticity is equal to two, a one percent price increase results in a two percent decrease in quantity demanded.
Other elasticities are used to determine how the quantity needed changes in respect to other factors.
To know more about Elasticity of demand, visit:
brainly.com/question/1048608
#SPJ1
how to evaluate assets and liabilities to determine their function in an accounting system. accounting
In accounting, assets are resources that a company owns and can use to generate future economic benefits, while liabilities are obligations that a company owes to others. To determine their function in an accounting system, you should evaluate assets and liabilities in terms of their liquidity, or the ability to convert them into cash.
Assets are usually listed in order of their liquidity, with cash and cash equivalents at the top, followed by short-term investments, accounts receivable, inventory, and fixed assets. Liabilities are also listed in order of their due date, with short-term liabilities, such as accounts payable and current portion of long-term debt, at the top, followed by long-term liabilities, such as bonds and mortgages.
By evaluating assets and liabilities in this way, you can determine their role in the accounting system, such as how they are used to generate revenue, how they are financed, and how they contribute to the overall financial health of the company.
You can learn more about accounting system at
https://brainly.com/question/26380452
#SPJ4
True or False: one of the components of marketing involves the process of collaborating with suppliers and customers to create offerings that have value.
The statement is True. one of the components of marketing involves the process of collaborating with suppliers and customers to create offerings that have value.
A market is any region in which or greater occasions can meet to interact in a monetary transaction—even the ones that do not involve legal gentleness. A market transaction might also moreover comprise goods, services, statistics, foreign money, or any aggregate of those that bypass from one birthday celebration to another.
In elegant, the function of a marketplace is to collect products from scattered resources and channel them to scattered stores. From the factor of view of the seller, dealers channel the call for their product; from the thing of view of the consumer, they bring elements within his obtain. A marketplace is an area wherein buyers and sellers can meet to facilitate the change or transaction of products and services. other examples encompass illegal markets, public sale markets, and economic markets.
To learn more about Market visit here:
brainly.com/question/13414268
#SPJ4
if the price of good a increases and, as a result, the demand for good b decreases, then goods a and b are considered to be ______.
If the price of good a increases and, as a result, the demand for good b decreases, then goods a and b are considered to be substitute goods.
Many times, two or more products can be utilized for a similar purpose and are therefore somewhat interchangeable if they are substitute goods. Customers frequently choose Commodity B instead of Commodity A when the price of one of these substitute items (in this case, Commodity A) rises in order to fulfil their needs or desires. In turn, this causes the demand for the replacement item (Commodity B) to rise while falling for the original good (Commodity A). The substitution effect is what is meant by this.
For instance, if the cost of coffee (Commodity A) goes up, some customers might decide to switch to tea (Commodity B), which could result in a decline in coffee demand and an increase in tea demand.
Read more about substitute goods on:
https://brainly.com/question/28318010
#SPJ4
FILL IN THE BLANK. Nina can choose to receive $5,000 today or $5,000 a year from now. If she takes the money now and invests the money at a 6% interest rate (after tax), she will have $____ one year from now. (The answer should be in the form of amounts rather than words.)
Nina can choose to receive $5,000 today or $5,000 a year from now. If she takes the money now and invests the money at a 6% interest rate (after tax), she will have $5300 one year from now.
If Nina takes the money now and invests it at a 6% interest rate (after tax), she will have $5,300 one year from now.
To calculate, the formula is:
Future value = Present value x (1 + interest rate)
Future value = $5,000 x (1 + 0.06)
Future value = $5,000 x 1.06
Future value = $5,300
Therefore the future value is $5300.
Learn more about future value here:https://brainly.com/question/24703884
#SPJ1
Assume Jones Manufacturing begins January with 10 units of inventory that cost $10 each. During January, the following purchases and goods sold were: $111 Jan 5 Purchased 8 units at S11 7 Sold 11 units 15 Purchased 6 units at S12 30 Sold 15 units $118 $188 Using the FIFO inventory costing method and the perpetual system, how much is Costs of Goods Sold for the sale of January 7 I DON'T KNOWYET submit
Given that the business uses FIFO, you would require 1 additional unit from the following transaction at a price of $11 each unit. As a consequence, the Cost of Sales for both the January 7 sale is equal to $111 (10 units at $10 each plus 1 item at $11).
How is the cost of items sold determined?The cost of any new merchandise acquired throughout the covered period is added to the stock value at the start of the study period to determine the price of goods sold (COGS).
What do COGS and expenditures mean?When comparing these two lines, the cost of selling goods solely accounts for the spending related to producing the things you sold throughout the year, whereas your expenses
To know more about Cost of Goods Sold visit:
https://brainly.com/question/14866200
#SPJ4
the shape of the average total cost curve reveals information about the nature of the barrier to entry that might exist in a monopoly market. which of the following monopoly types best coincides with the figure? * 1 point ownership of a key resource by a single firm natural monopoly government-created monopoly a patent or copyright monopoly
The shape of the average total cost curve reveals information about the nature of the barrier to entry that might exist in a monopoly market. Monopoly types best coincides in the "natural monopoly".
The monopoly market is the market in which the seller is single seller with a unique product in the whole market. The monopoly is of two types natural monopoly and legal monopoly.
In the natural monopoly in which the circumstance of the high start-up costs and the economics of the scale lead to only one company. The shape of the average total cost curve reveals information about the nature of the barrier to entry that might exist.
To know more about monopoly market here,
https://brainly.com/question/22934249
#SPJ4
Chris asks Sarah to cosign, but she says that she doesn't have a good credit history. Which of the following make her unable to cosign for Chris?
answer choices
She has very little debt which affects her capacity.
She has made late payments which affects her character.
She owns her condo which affects her collateral.
She has a good character since she pays all credit card bills in full.
Sarah's statement about her credit history suggests that option (c) she owns her condo which affects her collateral, as her creditworthiness would be considered insufficient by most lenders.
Credit is an essential component of the modern economy, and it refers to the ability of a borrower to obtain money or goods with the promise of paying it back in the future.
When someone cosigns a loan, they are essentially agreeing to be responsible for the debt if the primary borrower defaults on the loan. As a result, lenders will evaluate the cosigner's credit history to assess their ability to repay the debt if necessary. Sarah's poor credit history, as indicated by her statement, would be a red flag to lenders, indicating that she may not be a reliable cosigner.
Specifically, the late payments she has made would suggest that she may not be able to make timely payments on the loan, while having very little debt would not necessarily help her case, as lenders may prefer to see a track record of successfully managing credit.
On the other hand, owning a condo would not necessarily impact her ability to cosign, as this is not typically considered collateral for a loan. Good character, as demonstrated by paying credit card bills in full, is a positive sign, but it may not be enough to offset a poor payment history.
Therefore, option(c) is correct.
To know more about credit here
https://brainly.com/question/1475993
#SPJ4
Which clinical situation is addressed by the provisions of the Health Insurance Portability and Accountability Act (HIPAA)?
a. A client has asked a nurse if he can read the documentation that his physician wrote in his chart.
b. A client wishes to appeal her insurance company's refusal to reimburse for a diagnostic test.
c. A client has asked for a second opinion regarding treatment options for her diagnosis of ovarian cancer.
d. A client who resides in Indiana has required hospitalization during a vacation in Hawaii.
The clinical situation that is addressed by the provisions of the Health Insurance Portability and Accountability Act (HIPAA) is a. A client has asked a nurse if he can read the documentation that his physician wrote in his chart.
What constitutes a key element of Hipaa?The HIPAA Act's most crucial provision requires you to maintain the confidentiality and security of personally identifiable patient information. Patients now have access to safer electronic health records because to this clause. However, it has also forced health care providers to follow a number of, occasionally onerous, regulations.
The right of patients to access and read their medical records is one of HIPAA's provisions. Aspects of care that are under the special purview of HIPAA include discussions with an insurance provider, the requirement for a second opinion, and out-of-state care.
Therefore, option A is correct.
Learn more about Insurance at:
https://brainly.com/question/25855858
#SPJ1
Which of the following factors is not a reason forensic investigators are increasingly used in accounting?a New accounting rules.b Pressure from boards of directors.c The Sarbanes-Oxley Act.d Audit fee increases.
The correct option is D. Audit fee increases factors are not a reason forensic investigators are increasingly used in accounting.
An account is a particular report inside an employer's financial ledger or balance sheet. Accountants, finance experts, and bookkeepers can use debts to report important financial records, like reporting day-by-day transactions to confirm the exact amount of money an organization has at any moment.
In accounting, an account is a document within the famous ledger this is used to kind and maintain transactions. as an example, groups may additionally have an account of a coin wherein to file every transaction so one can increase or decreases the business enterprise's cash. fundamental accounting ideas used in commercial organizations globally cover income, charges, belongings, and liabilities. the one's elements are tracked and recorded in documents which encompass stability sheets, income statements, and cash glide statements.
To learn more about Account visit here:
brainly.com/question/22917325
#SPJ4
u.s. steel corp. is a well-known steel manufacturing company. samcrow, one of the customers of u.s. steel corp. holds an rfm score of 111. which of the following characteristics relates samcrow with its rfm score? group of answer choices A. samcrow has ordered recently and orders frequently, and it orders the most expensive goods. B. samcrow has not ordered anything for a while and it did not order frequently, but when it did order, it bought the least expensive items. C. samcrow has ordered recently, but orders infrequently, and it orders the most expensive goods.
D. samcrow has ordered recently and orders frequently, but it orders the least expensive goods. E. samcrow has not ordered anything for a while, but when it did order in the past, it ordered frequently, and its orders were of the highest monetary value.
SAMCROW has recently placed orders, places orders regularly, and purchases the most expensive things.
What is it called when you rank clients based on their purchasing behaviors after analyzing them?Recency, frequency, and monetary value (RFM) is a marketing analysis model that divides a company's customer base based on their buying tendencies or customs.
OLAP vs. RFM: Which is more general?RFM reports have more data drilling capabilities than OLAP reports. OLAP reports are more specialized than RFM reports. RFM reports provide dimensions and measurements. RFM reports are not as dynamic as OLAP reports.
To know more about SAMCROW visit :-
https://brainly.com/question/30691409
#SPJ1
Troy Kennedy exchanges property (basis of $200,000 and fair market value of $850,000) for 75% of the stock of Red Corporation. The other 25% is owned by Sarah Mitchell, who acquired her stock several years ago. You represent Troy, who asks whether he must report gain on the transfer.
Complete the letter to Troy and a memorandum for the tax files.
Dear Mr. Kennedy:
This letter is in response to your question as to whether you must report gain on the transfer of property to Red Corporation. Our conclusion is based on the facts as outlined in your March 12 letter. Any change in facts may cause our conclusion to be inaccurate.
The property you transferred had a tax basis of $200,000 and a fair market value of $850,000, for which you received stock representing a 75% interest in Red Corporation. The other 25% interest is owned by Sarah Mitchell, who acquired her shares several years ago.
Because the amount of stock you acquired represents less than the minimum requirement of ___1___% interest in Red Corporation, you ___2___ the $___3___ gain on the transfer.
Should you need more information or need clarification on our conclusion, do not hesitate to contact me.
Because this transaction meets the control of the corporation requirement, Janice has income of $0 and Thom has income of $40,000.
What is transaction?An executed contract between a buyer and a seller to trade goods, services, or financial assets in exchange for money is known as a transaction.
The phrase is also frequently used in business accounting. This straightforward definition might be challenging in corporate bookkeeping. Depending on whether a corporation utilizes accrual accounting or cash accounting, it may record a transaction sooner or later.
Regardless of when payment is received or paid, accrual accounting records a transaction as soon as it is complete. Smaller businesses tend to employ cash accounting, which only records transactions when cash is received or dispersed.
Regardless of when money is collected or expenditures are paid, the accrual accounting technique mandates that a transaction be recorded as soon as it takes place.
Learn more about transaction, here
https://brainly.com/question/24730931
#SPJ1
Identifying, assessing, and managing the risks and day-to-day changes that occur during a project best defines which of the following project manager activities?
A) Conflict management
B) Risk and change management
C) Team management
D) Customer relations
E) Technical problem solving
The risk and change management has a function to Identifying, assessing, and managing the risks and day-to-day changes that occur during a project. So the correct option is B. Risk and change management.
In the term of business and organizations management, Risk management generally can be defined as the identification, evaluation, and prioritization of risks. The risk management action is followed by coordinated and economical application of resources. Risk management has an important function to minimize, monitor, and control the probability or impact of unfortunate events. In the other side, risk management has a function to maximize the realization of opportunities.
Here you can learn more about risk management https://brainly.com/question/30453593
#SPJ4
Business organizations can illustrate their commitment to ethical leadership, or
"values management," in which of the following ways?
Developing ethical codes
Ethical training
Monitoring of ethical protocals with a reporting system
None of the above
All of the above
Option e: All of the above. By Developing ethical codes, Ethical training, and by Monitoring of ethical protocols with a reporting system.
Ethical leadership is leadership focused on appropriate behavior through respect for ethics and values and the rights and dignity of others. The concepts of honesty, integrity, trust and fairness are all important to ethical leadership.
Ethical leadership can add value to an organization by motivating employees and encouraging them to act in accordance with company values. Experience shows that ethical leadership increases employee satisfaction and reduces turnover.
Ethical leaders must demonstrate ethical and appropriate behavior in all aspects of life over time, even if that behavior is not necessarily observable by employees.
Ethical leadership can even be offensive, such as firing employees who use company property for personal gain. Still, maintaining integrity is paramount to leadership.
To learn more about ethical leadership, here:
https://brainly.com/question/6397889
#SPJ4