A conditional renewal clause in a policy allows an insurer to cancel coverage immediately without renewability on the renewal date or to increase the policyholder's premium under certain conditions.
This provision benefits insurance companies, not policyholders. Conditionally renewable policies may be renewed unless specific conditions set forth in the policy occur. For example, a conditionally renewable disability policy may not allow the policyholder to renew the disability policy after changing jobs. If your new job is considered more risky than your previous job, the insurance company may include this condition in your policy. Insurers place this condition on insurance contracts because the increased risks associated with new jobs make policyholders more likely to claim damages.
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when estimate the productivity of excavation activity (e.g. cy/day), the most reliable data source is typically:
The highest productivity attainable on a real building site is referred to as the excavator's actual productivity. The SRF makes use of a video camera and sophisticated computer software to analyze recorded movies.
How to determine the productivity of an excavator is explained in the steps that follow. Determine the total excavation volume (in ft3) first. Next, calculate the whole duration (min). Gather the following formula: EP = V / T x 60.
In the construction sector, productivity ratios of labor and equipment are used to determine how long it will take to do a certain task. If you want powertools that are affordable but of exceptional quality, look here.
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match the form of competition with its correct example.
The form of competition in oligopoly market with its correct example are matched below:
pure competition - wheat, grains, and rice
monopolistic competition - coffee, tea, soft drinks
An "oligopoly" is a term used to describe an economic sector with few active businesses. A few significant sellers or producers control the majority of the market or industry in this market structure, known as an oligopoly. Oligopolies frequently form in order to boost profits, which may lead to corporate cooperation. Markets that are dominated by oligopoly suppliers are under their control. They are found in all countries and a wide variety of sectors. Although they may initially seem to be competitive, certain oligopoly marketplaces are significantly less so.
oligopoly: natural gas, wireless carriers
Water and electricity monopolies
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complete question:
match the form of competition with its correct example. instructions pure competition pure competition drop zone empty. monopolistic competition monopolistic competition drop zone empty. oligopoly oligopoly drop zone empty. monopoly monopoly drop zone empty. coffee, tea, soft drinks cell phone carriers water, electricity, natural gas wheat, grains, and rice
an inventory determined by keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise is called?
An inventory determined by keeping a continuous record of increases, decreases, and the balance on hand of each item of merchandise is called perpetual inventory.
The balances of your inventory are continuously monitored by a perpetual inventory system. When you buy or sell stock, updates happen immediately. In your inventory accounts, purchases and returns are promptly logged. A food store, for instance, might employ a perpetual inventory system.
A perpetual inventory system is one that automatically and instantly logs each purchase and sale of merchandise. It is used to maintain and record stock levels. In this approach, whenever a transaction occurs, the programme instantly registers a change in inventory levels.
The level of inventory and cost of products sold are determined by a periodic physical count used in the periodic inventory system. Every time a product is received or sold, the perpetual system automatically changes the inventory balances, keeping track of them continuously.
The complete question is:
a) periodic inventory
b) physical inventory
c) merchandise inventory
d) perpetual inventory
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how can a manager maximize the economic surplus when hiring workers?
A manager can maximize the economic surplus when hiring workers by balancing the cost of hiring the workers with the value they produce.
What is economic surplus ?The difference between the total value of goods and services produced and their production costs is referred to as economic surplus. It serves as a gauge for the total gain that a person, business, or society experiences as a result of economic activity. Consumer surplus and producer surplus are added together to determine economic surplus.
Consumer surplus is the gap between what consumers are prepared to pay and what they actually pay for a commodity or service. It stands for the advantage that buyers gain by purchasing a product for less money than they would be prepared to shell out.
Producer surplus is the difference between the price a producer can charge for a commodity or service and the cost of producing it. It stands for the gain that producers experience when a product is sold for more money than it cost them to make.
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Ellen is 48 years old and files as single. Her 2022 adjusted gross income (AGI) is $51,000, which includes gambling winnings of $2,000. Ellen would like to itemize her deductions this year. Ellen brings documents for the following expenses:
$9,000 Hospital and doctor bills
$500 Contributions to Health Savings Account (HSA)
$3,600 State withholding (higher than Ellen's calculated state sales tax deduction)
$300 Personal property taxes based on the value of the vehicle
$400 Friend’s personal GoFundMe campaign
$275 Cash contributions to the Red Cross
$200 Fair market value of clothing in good condition donated to the Salvation Army
(Ellen purchased the clothing for $900)
$7,300 Mortgage interest
$2,300 Real estate tax
$150 Homeowners association fees
$3,000 Gambling losses
What amount of gambling losses is Ellen eligible to claim as a deduction on her schedule A?
The amount of gambling losses is Ellen eligible to claim as a deduction on her schedule A is $1,000 ($3,000 Gambling losses - gambling winnings of $2,000 = $1,000).
A person's adjusted gross income (AGI) is their entire taxable income in the United States less certain deductions. It is employed to determine taxable income, that is determined by subtracting itemised deductions and personal exemptions from AGI. AGI is more significant than gross income for the majority of individual tax reasons.
A claim is a legal notification to an insurance provider that you think you are entitled to compensation because you have experienced a loss. The owner's claim to the company's assets is shown in the balance sheet's shareholder equity column. The asset balance less any unpaid liabilities equals the shareholder's equity in every case.
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ou live 20 miles away from your job, where you work five days per week (except for a two-week vacation every year). your car gets 35 miles per gallon, on average. answers must contain exact dollars and cents. (round to the nearest cent) a. if the average price per gallon of gas is $2.50, how much should you budget for gas for your commute in your annual budget? $ b. you are considering a new job that is 30 miles from where you live. how much more will your commute cost you each year? $ c. if you take the new job and the price of gas rises to $3.00 per gallon, how much more will your commute cost you each year? $
If average price per gallon is $2.50, the annual budget for commute should be $712.5.
What is Budget?Budget is the activity of calculating the future expenses and revenues, the budgets are made to analyze the actual results, in this way variance analysis is done.
A. 20 (miles) * 2 (To and back) * 5 (Days a week) * 50 (weeks per year) = 10,000 miles per year.
10,000/35 (miles per gallon)
285gallons * $2.5 per gallon = $712.5
B. 30 (miles) * 2 (To and back) * 5 (Days a week) * 50 (weeks per year) = 15,000 miles per year.
15,000/35 (miles per gallon)
429 gallons * $2.5 per gallon = $1,072.5
C. 429 gallons * $3 per gallon = $1,287
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on november 1, 2024, the company borrowed $190,000 from a bank. the note requires principal and interest at 12% to be paid on april 30, 2025. prepare the necessary adjusting entry on december 31, 2024.
$3,800 was debited from interest expense and $3,800 was credited to interest payable.
How are expenses and interest payments recorded?First of all, interest expense is a liability account and is represented as such on the balance sheet, whereas interest payable is an expense account and is represented as such on the income statement. Second, interest expense is recorded as a negative in the accounting records while interest payable is recorded as a credit.
Altering Entries: What are they?Adjusting entries are done at the end of the fiscal year to ensure that revenue and expenditures are recorded during the proper accounting period. Following the creation of the unadjusted trial balance and the uploading of all other journals to the general ledger, they are normally processed.
The business must make an adjustment for the interest costs accrued during the previous two months (November and December 2016).
The amount = $190,000 x 0.12 = $22,800 x 2/12 = $3,800
Dec 31, 2016. Interest Expense- (Dr.) $4,000
Interest Payable- (Cr.) $4,000
to track the interest owed on the payable note
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summarize the rules for using binomial nomenclature
Answer:
Explanation:
The system of binomial nomenclature was incorporated by Carl Linnaeus. Multiple local names make it extremely tough to know an organism globally and keep a track of the number of species.
Therefore, it shows a lot of confusion. To get rid of this confusion, a standard protocol came up. As per , each and every organism would have one scientific name which would be used by everyone to determine an organism. This process of standardized naming is called as Binomial Nomenclature.
Each living species comprising plants, animals, birds and also some microbes have their own scientific names. For instance.,
The scientific name of the tiger is showed as Panthera tigris. ‘Panthera’ represents the genus and ‘Tigris’ presented a specific species or specific epithet.
The scientific name of humans is showed as Homo sapiens. ‘Homo’ represents the genus and ‘sapiens’ represents a specific species. The Indian bullfrog is scientifically written as Rana tigrina. ‘Rana’ is the name of the genus and ‘tigrina’ is the name of the particular species.
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john has a new dishwasher and buys it from a store because they had a financing special that offered no interest charges for 12 months. what will the store do if he doesn't pay the entire amount off in that time?
Answer:
Explanation:
In the situation where principal amount is not paid . It depends on the nature of the case and what exact measures can you take.
In any case the first action would be to send a legal notice through a lawyer, mentioning the debt and fact of non-payment and the actions that you will be taking if the payment is not made. In many cases, you would get the payment after legal notice has been sent.
Arbitration, In situation, you have a written agreement which has an arbitration clause, you can (in most cases that will be very first recourse) start an arbitration proceeding.
Money suit, File a money suit for getting payment. However, as the court process is delay, it might take years before you can get over the money.
Insolvency and bankruptcy proceeding: File for insolvency and bankruptcy proceedings under the very new Insolvency and Bankruptcy Code, 2016.
Complaint with statutory bodies: If in the case where the debtor is a entity, you can file a complaint with the MCA/ROC, SEBI, etc. FIR with police: Depending on the nature of the case, it might be leads to file a FIR with police for deceive.
Other measures: There are other legal tactics, like application for impounding of passport, that might be arose depending on the nature of the case.
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which best describes the purposes of savings and checking accounts?
Answer: A savings account is an interest-bearing deposit account held at a bank or other financial institution. Though these accounts typically pay a modest interest rate, their safety and reliability make them a great option for parking cash you want available for short-term needs.
Explanation: Search it
a lumber company that only does business in a single state sues the federal government because it does not want to follow federal labor policies. which constitutional clause would support a supreme court decision against the lumber company?
The constitutional clause supporting a Supreme Court decision against the lumber company in this scenario is the Commerce Clause, which is found in Article I, Section 8, Clause 3 of the United States Constitution.
The Commerce Clause allows the federal government to regulate commerce between states and foreign countries. This includes the authority to regulate labor practices that affect interstate commerce, such as minimum wage and overtime laws. In this case, the lumber company that only does business in a single state is likely engaged in activities that affect interstate commerce, such as buying and selling goods across state lines or employing workers who live in different states. By challenging federal labor policies, the lumber company is seeking to exempt itself from regulations that apply to other firms engaged in interstate commerce.
Therefore, the Supreme Court could rely on the Commerce Clause to uphold the federal labor policies and rule against the lumber company, holding that the federal government has the authority to regulate labor practices that affect interstate commerce.
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1. describe ams’s competitive strategy. discuss what type of supply chain design ams would need to maximize profitability given its strategy.
AMS' competitive strategy is focused on developing high-quality sensor solutions and maximizing profitability. To achieve this, the company would need to adopt a supply chain design that reduces costs and increases efficiency, such as implementing lean manufacturing processes, using technology, and outsourcing non-core activities.
AMS (Austrian Microsystems) is a technology company that specializes in developing sensor solutions for various industries. The company's competitive strategy refers to the way it positions itself in the market in relation to its competitors and the approach it takes to achieve its goals.
AMS' competitive strategy is focused on developing innovative and high-quality sensor solutions that provide customers with exceptional performance. The company achieves this by investing heavily in research and development and using cutting-edge technology to create products that stand out in the market.
Given its competitive strategy, AMS would need to adopt a supply chain design that maximizes profitability by reducing costs and increasing efficiency.
This could involve implementing lean manufacturing processes to reduce waste and increase production efficiency, as well as using technology to automate processes and reduce labor costs.
AMS may also need to adopt a just-in-time (JIT) inventory management system to ensure that it has the right products in stock at the right time, without having to carry large amounts of inventory that could tie up resources.
The company could also consider outsourcing non-core activities, such as manufacturing, to reduce costs and focus on its core competencies.
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What is included in working capital management?
Working capital administration many times entails monitoring cash flow, modern assets, and current liabilities thru ratio analysis of the key factors of working capital, which include the working capital ratio, series ratio, and stock turnover ratio.
What are the aspects of working capital management?The four essential components of working capital are: Cash and cash equivalents. Accounts receivable (AR)
...
Let's look at every of these 4 factors in larger detail.
Cash and Cash Equivalents. ...
Accounts Receivable. ...
Inventory. ...
Accounts Payable.
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Working capital administration many times entails monitoring cash flow, modern assets, and current liabilities thru ratio analysis of the key factors of working capital, which include the working capital ratio, series ratio, and stock turnover ratio.
What are the aspects of working capital management?The four essential components of working capital are: Cash and cash equivalents. Accounts receivable (AR
Let's look at every of these 4 factors in larger detail.
Cash and Cash Equivalents. ...
Accounts Receivable. ...
Inventory. ...
Accounts Payable.
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you are managing a landscaping project for the city. the project's purpose is to decorate the park to commemorate the city's 200th anniversary. the official flower is in short supply due to a heat wave in the area in which they are grown. therefore, the price per plant will be higher than originally planned. while a potential supplier shortage was an identified risk, it was not due to a heat wave causing a shortage in the supply chain. you are in the process of reassessing the project risks, but need to know what the tolerances for the original project risks were. where do you find this information? answers a. project management plan b. risk register c. risk reviews d. risk audit
Risks must be prioritized and ranked. Depending on the danger's intensity, most risk management solutions provide a variety of risk categories.
What comes first in a five-step risk assessment plan?Identifying the dangers is the first step. A risk is something that has the potential to be harmful. A task or activity may involve a single hazard or a number of them. It's not necessary to list every potential hazard, but you should try to list any serious ones.
What three categories of control measures are there?Detective, preventative, and corrective internal controls are the three main categories. There are several internal control frameworks available to make it easier to apply legal compliance requirements and enterprise risk management (ERM) best practices.
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Kirkland Theater sells season tickets for six events at a price of $240. In pricing the tickets, the planners assigned the leadoff event a value of $60 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,800 season tickets were sold for the 2016 season. Required: a. Calculate the theater's earned revenue after the first three events have been presented
The theater's earned revenue after the first three events have been presented is $216,000.
Earned income is money that is received in exchange for an item or service that is of similar worth or more. This includes, but is not limited to, the sale of artwork, the selling of tickets, advertising, the payment of services or employment, the cost of classes, camps, or workshops, and the cost of goods.
To calculate the earned revenue after the first three events have been presented, we need to find out how much money was earned from these three events. If each of the last five events was priced equally, each event was priced at $240 / 6 = $40.
So, the earned revenue from the first three events was $40 * 3 = $120.
Therefore, the theater's earned revenue after the first three events have been presented is $120 * 1,800 = $216,000.
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how many people are involved in each form of partnership?
The number of people involved in each form of partnership varies depending on the type of partnership and the agreement between the partners.
Generally speaking, a general partnership involves two or more partners, a limited partnership involves at least one general partner and one limited partner, and a limited liability partnership involves two or more partners.
A general partnership, also known as a general partnership, involves two or more partners who are each jointly and severally liable for the actions and debts of the partnership. The partners share equally in the profits, losses, decision-making, and management of the business. A limited partnership is similar to a general partnership, but with one or more limited partners who are only liable for their own contributions to the partnership. The limited partner does not typically participate in the management of the business.
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When a company collects cash from accounts receivable? a. the asset accounts receivable increases b. stockholders' equity Increasesc. total assets are not affected.d. liabilities decrease.
Answer:
Explanation:total assets are not affected
When a company collects an account receivable one asset account increases (cash) and another asset account decreases (accounts receivable). The amount of total assets is not affected
When a company collects cash from accounts receivable, the asset accounts receivable increases. therefore, option a is correct.
Explanation:When a company collects cash from accounts receivable, the asset accounts receivable increases. This is because accounts receivable represents the amount of money owed to the company by its customers for goods or services already provided. By collecting the cash, the company is converting the accounts receivable into actual cash, increasing its assets.
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you are planning to deposit in a savings account $25,000 three years from now, $35,000 in the fourth year, and $45,000 in six years. what is the current value of these savings at a discount rate of 7%? group of answer choices $88,265.13 $72,050.63 $77,094.18 $34,330.28 $82,490.77
The current value of these savings at a 7% discount rate can be calculated using the formula for the present value of a future sum:
PV = FV / (1 + r)^t
Where PV is the present value, FV is the future value, r is the discount rate, and t is the time in years.
PV = $25,000 / (1 + 0.07)^3 + $35,000 / (1 + 0.07)^4 + $45,000 / (1 + 0.07)^6
PV = $25,000 / 1.2127 + $35,000 / 1.2869 + $45,000 / 1.4824
PV ≈ $19,665.08 + $26,809.24 + $30,347.96
PV ≈ $76,822.28
So the current value of these savings is approximately $76,822.28.
What is the current value of savings?
The current value of savings is the value of money that you have saved today, adjusted for inflation and the time value of money. The current value takes into account the fact that money today is worth more than the same amount of money in the future, due to the opportunity cost of not using it and the expected rate of inflation. To determine the current value of savings, you need to know the amount of money saved, the expected rate of inflation, and the length of time over which the savings will be held.
Here, answer is the current value of these savings is approximately $76,822.28.
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An annual review of total compensation shows one total in the payroll database and a different total in the HR software. What should be your next step?A. Report using only the payroll database data.B. Append the data from both the payroll and HR software data.C. Report using only the HR software data.D. Determine which system has the accurate value for total compensation (system of record).
An annual examination of overall compensation reveals two totals: one in the HR software and one in the payroll database. Report utilising just the payroll database information.
The right response is C.
A payroll database: what is it?You can quickly determine your employees' salaries using a payroll data model. You need some sort of payroll solution whether you're in charge of a tiny or huge business. An effective payroll programme can help in this situation.
What kinds of payroll data are examples?Everything you can learn about your payroll process is contained in payroll data. This data could pertain to your staff members' wages, benefits, overtime, yearly leave, employee statistics, and more.
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what do you mean by problem solving skill ?
Answer:
Explanation:
problem-solving skill is the skill that refers to solving a problem in a situation. For instance, a problem would be a spill, and wiping it with a tissue would be the solution.
Answer:I hope this help I loving helping people good luck itchai72777
Explanation:
Problem-solving skills are the ability to identify problems, brainstorm and analyze answers, and implement the best solutions. An employee with good problem-solving skills is both a self-starter and a collaborative teammate; they are proactive in understanding the root of a problem and work with others to consider a wide range of solutions before deciding how to move forward
Problem solving is the act of defining a problem; determining the cause of the problem; identifying, prioritizing, and selecting alternatives for a solution; and implementing a solution. The problem-solving process. Problem solving resources
It is the methods we use to understand what is happening in our environment, identify things we want to change and then figure out the things that need to be done to create the desired outcome. Problem solving is the source of all new inventions, social and cultural evolution, and the basis for market based economies
Economics studies choices that arise from one fact. What is that fact? O A. Our resources are unable to satisfy all our wants. OB. Some families are too big. O c. Businesses produce too many varieties of most goods. OD. Some things can't be bought in the marketplace
The fact that economics studies are: "Our resources are unable to satisfy all our wants." This concept is known as scarcity, and it is the fundamental principle that underlies all economic activity.
Scarcity means that there are limited resources available to meet unlimited wants and needs, so choices must be made about how to allocate these resources most efficiently and effectively as possible.
If you have more wants than income then it can lead to dissatisfaction with your self and can lead you to lose your money. This choice is the central concern of economics, and it drives the study of topics such as production, consumption, exchange, and distribution.
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required a. prepare closing entries in general journal form using the income summary account. b. after the closing entries are posted, what is the ending balance in retained earnings account? c. prepare a post-closing trial balance.
Answer:
Explanation:
Organization are needed to close their books at the end of each fiscal year so that they can present their annual financial statements and tax returns. However, most companies prepare monthly financial statements and close their books annually, so they have a clear picture of company performance during the year, and give users timely information to make decisions.
Closing entries generated a company for the next accounting period by clearing any outstanding balances in certain accounts that should not transfer over to the next period.
Closing, or clearing the balances, means returning the account to a zero balance. Having a zero balance in these accounts is important so a company can compare performance around periods, particularly with income.
It also aids the entity keep thorough records of account balances effect retained earnings. Revenue, expense, and dividend accounts affect retained earnings and are ended so they can accumulate new balances in the next session, which is an application of the time period requirement.
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The manager of the bank where you work tells you that your bank has $10 million in excess reserves. She also tells you that the bank has $500 million in deposits and $455 million in loans. Given this information you find that the reserve requirement must be
a) 9.0 percent.
b) 2.0 percent.
c) 10.0 percent.
d) 7.0 percent
She also tells you that the bank has $500 million in deposits and $455 million in loans . The reserve requirement must be 7.0 percent
The correct answer is option d.
How do we determine our reserve needs?
7.0 percent must be set aside in reserves.
The amount of money that a bank must keep in reserve in order to meet its obligations in the event of unforeseen withdrawals is known as the reserve requirement. The central bank uses reserve requirements as a tool to alter the amount of money in the economy and affect interest rates.
Reserves equal deposits minus loans, which equals 500/455, or 45 million.
Required reserves = Reserves - Excess Reserves, which equals 45 - 10 = 35 million.
35/500 = 0.07, or 7%, of required reserves must be in deposits.
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Regarding bonds with put options, which of the following statements are TRUE?I Exercise of the put is at the option of the bondholderII Once the option is exercisable, the bond's price will not fall below the option price if interest rates riseIII Yields on bonds with put options are higher than similar bonds without this featureA. I onlyB. I and IIC. II and IIID. I, II, III
The right response is C, II, and III. Statement I am correct. II is also true, Third statement is also accurate. The increased safety and protection provided by the put option is reflected in the higher yields that bonds with put options typically have compared to comparable bonds without this feature.
A bond is essentially a loan from an investor to a borrower, such as a business or the government. The investor earns interest on the investment while the borrower uses the funds to support its activities. A bond's market value may fluctuate over time. A bond is a loan made to the bond issuer by the bond buyer, or bondholder. When they require money, corporations, governments, and local governments all issue bonds. When a person purchases a government bond, they are lending money to the government. When a shareholder purchases a corporate bond, the shareholder is effectively lending the company money.
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firm e had total stockholders' equity of $600,000 at the end of year 1 and $800,000 at the end of year 2. throughout year 2, there were 100,000 shares of common stock authorized, 50,000 shares issued, and 40,000 shares outstanding. what was firm e's book value per share at the end of year 2?
At the conclusion of year 2, firm E's book value per share was $800,000 / 40,000 = $20 per share. At the conclusion of years 1 and 2, Firm E generated total stockholders' equity of $600,000 and $800,000, respectively.
How is equity for shareholders determined?Total liabilities are deducted from total assets, which are shown on a company's balance sheet, to determine a business's shareholder equity. The amount of money the business receives from common and preferred shares is known as shareholder equity.
Do stockholders' equity and market value match up?Due to the cost principle, assets are typically recorded at current costs on the balance sheet. The assumption that perhaps the maximum number of stockholders' equity is equal to the current value, of the corporation.
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In what year did masujiro hashimoto establish the kwaishinsha motor car works – the predecessor to datsun?
Masujiro Hashimoto established the Kwaishinsha Motor Car Works in 1911. It was the predecessor to the Datsun brand.
Hashimoto was a Japanese entrepreneur and the founder of Kwaishinsha Motor Car Works. The company was initially established to produce a three-wheeled vehicle called the DAT, for which the company was later renamed. The DAT was powered by a small single-cylinder engine and had a wooden body.
It was the first mass-produced car in Japan. Hashimoto quickly recognized the potential of the automobile and began to produce more cars, selling them to the Japanese public. In 1914, the company was renamed DAT Motorcar Co., Ltd., and in 1925 the name was changed again to DAT Jidosha Seizo Company.
The name "Datsun" was first used in 1932 and was applied to a new line of small cars. Since then, the Datsun brand has become one of the most well-known and successful car companies in the world.
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gross domestic product (gdp) includes: group of answer choices intermediate as well as final goods. foreign goods as well as domestically produced goods. used goods sold in the current time period. only final goods and services.
Only finished products and services are included in the Gross Domestic Product. Here option B is the correct answer.
Gross Domestic Product (GDP) is the monetary value of all final goods and services produced within a country's borders in a specific period of time, typically a year or a quarter.
Final goods and services are those that are sold to the end consumer and are not used as inputs in the production of other goods and services.
Intermediate goods, which are used as inputs in the production of final goods and services, are not included in GDP. Foreign goods, regardless of whether they are produced domestically or abroad, are also excluded from GDP as it only measures production within the country's borders. Used goods sold in the current time period are also excluded from GDP as they do not reflect new production.
Complete question:
gross domestic product (GDP) includes: group of answer choices
A - intermediate as well as final goods.
B - foreign goods as well as domestically produced goods.
C - used goods sold in the current time period.
D - only final goods and services.
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when quantity supplied is greater than quantity demanded, there is a
When quantity supplied is greater than quantity demanded, there is a excess supply.
An excess supply, economic surplus, market surplus, or simply surply is a scenario in economics in which the quantity of an item or service supplied exceeds the quantity sought, and the price is higher than the equilibrium level established by supply and demand.
That is, the amount of product that producers want to sell surpasses the amount of product that potential purchasers are willing to buy at the current price. It is the inverse of an economic scarcity (excess demand).
Agricultural surplus in the Neolithic period is said to have resulted in increased division of labor, leading in social stratification and class in cultural progress.
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production possibility frontier sounds like a(n) _________________________. normative statement opportunity cost sunk cost budget constraint
In effect, the production possibilities frontier plays the same role for society as the budget constraint plays for an individual consumer.
Effective use of the initial inputs results in the manufacturing process and outcome (or factors of production). The three main production factors—land, labour, and capital—are referred to as primary producers of goods and services. These crucial inputs are not significantly altered during the output process or turned into important components of the finished product. Given that they are byproducts of land, labour, and capital, materials and energy are categorised as secondary factors in classical economics. Further research demonstrates that the fundamental elements encompass all of the resources in question, including the land and the natural resources present on and beneath the soil. There are distinctions between labour and human capital, though.
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Which of the following is the most likely outcome minimum wage laws?
A. an increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
B. an increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms
C . a decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms D. a decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
an increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms is the most likely outcome minimum wage laws.
In accordance with Indian labor legislation, the Minimum Wages Act of 1948 establishes the minimum wages that must be provided to both skilled and unskilled labourers. a law establishing minimum wage rates for particular firms occupations. To stop employers from abusing their employees. to guarantee the labourers' ability to maintain a respectable standard of living. When an employee whose minimum rate of pay is determined by this Act by the hour, by the day, or by a longer wage period that may be authorised, works on any additional days.
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