Answer:
yes
Explanation:
Cake Mart understated its ending inventory in the current year by $5,000. The company incorrectly reported net income of $100,000. Determine the effect of the error on the financial statements.
Answer:
C. Cost of goods sold will be too high by $5,000, and this caused net income to be understated by $5,000
Explanation:
In this scenario, the final stock is understated by $5,000 which indicates that the cost of the products sold is overestimated by $5,000 which affects the net profit by understating the $5,000 amount
As if the portion of the stock is impacted, it influences the cost of the products sold that eventually impacted the net profit. And the correct net sales will be $95,000 ($100,000-$ 5,000)
A wholesaling firm has a computerized billing system. Because of a clerical error while entering information from the sales order, one of its customers was billed for only three of the four items ordered and received. What controls could have prevented, or resulted in prompt detection and correction, of this situation?
Answer:
Explanation:
The best prevention method for such a scenario would have been matching line control counts produced by the computer with predetermined line control counts. This is because line control counts, work by identifying undesirable events as they occur by comparing the counted line items on a document with the predetermined line control counts for each document in order to detect missing lines and prevent errors in billing such as the one in this scenario.
When a magazine company collects cash for selling a subscription, it is an example of: Group of answer choices
Answer:
A deferred revenue transaction
Explanation:
Magazine subscriptions are payments made for future editions of a magazine. When the magazine is eventually produced it is delivered to the customer.
So when the magazine company collects cash for a subscription they are being paid for a service that is not yet rendered.
As revenue is recognised when the when it is earned (when service has been rendered), this is classified as a deferred revenue transaction.
In a purchases-payables computer system, a purchase order is created after which document has been processed?
According to Census Bureau and Federal Reserve surveys, about 50 percent of all new businesses begin with less than ____ in total capital
Answer: $30,000
Explanation:
Many businesses take a careful capital when starting up their firms. Many do so due to their capability while others do so to monitor the growth of the already invested, then invest much more when when they've witnessed growth with the business. Census Bureau and Federal Reserve surveys, about 50 percent of all new businesses begin with less than $30,000 in total capital.
Calvin is buying his first home. He has been saving and saving for years. The home he is buying has a price of $300,000 and Calvin has a down payment of $75,000. Calvin's loan is considered:
Answer: low risk
Explanation:
Low risk loans are the loans that are collected by economic agents such as individuals, firms and the government which has a low risk or low interest rate.
Since the home Calvin is buying has a price of $300,000 and Calvin has a down payment of $75,000. It so considered a low risk loan.
can i have friendsssssssssssssssssssssssssssssssssssss
Answer:
Sure lol
Explanation:
I'll send ya a friend request then lol
*ultimate lonely call received and returned*
Your boss told you that she is giving you a 5% raise starting with your next paycheck. You are very pleased to hear this good news until you learn that some of your coworkers earned a 10% raise. Now you are unhappy and angry about your raise. Your experience is best explained in terms of
Answer: The relative deprivation principle
Explanation:
The relative deprivation principle is based on a concept that an individual feels cheated of some event or happening when they hear that same people who participated in such event gained better than them. This is a normal occurrence in many offices as regards promotions; when an individual gets to discover that their was a general raise in pay but his was the smallest ratio amongst the other person's, he would feel deprived. Also such scenario do happen in promo being carried out in business between end users who don't get the same promo price despite they feel they were supposed to get same.
Integrated logistics management refers to the practices used to control the ______ of products (and the associated costs) so that there is a continuous and uninterrupted flow of ______ from suppliers to manufacturers to the final consumers.
Answer:
Integrated logistics management refers to the practices used to control the movement of these products (and the associated costs) so that there is a continuous and uninterrupted flow of materials and products from suppliers to manufacturers to the final consumers.
Explanation:
Who is required to pay for the subdivision information under the TREC Addendum for Property Subject to Mandatory Membership in a Property Owners Association?
Answer:
The buyer
Explanation:
TREC is Texas real estate commission, a state agency under Texas staye government. Established in 1949, the agency governs real estate practices and protects consumers of real estate .
Some homeowners and homeowners association require buyers who wish to buy property to cover certain costs in transfer of ownership of the property. The costs and who covers them is covered under TREC Paragraph C, Fees of the Addendum for Property Subject to Mandatory Membership in a Property Owners Association (TAR 1922, TREC 36-8). According to the law the buyer will pay for all costs and fees in transfer except for fees covered in Paragraphs A, D, and E.
Disutility has to do with having product offered at the right time of day, week or year.
Answer:
Time
Explanation:
Record the following transactions of Sumanto, Kochi in Two-column Cash Book and balance the book on 31st January, 2018: 2018 Jan1. Cash balance Rs.1,000, Jan1. Bank balance Rs.14,500 Jan1. Cash received from sale of shares* Rs.60,000 Jan2. Paid into bank Rs.50,000 Jan3. Purchased goods from M/s.Agarwal and Co. Rs.13,000 Jan4. Paid wages Rs. 2,500. Jan5. Received from Mohan a cheque for Rs.9,800 against due of Rs.10,000 in full settlement of his account. Jan8. Mohan’s cheque deposited into bank Jan14. Paid for stationery Rs. 500. Jan18. Bought goods Rs.6,720 Jan19. Paid Shyam by cheque Rs.3,700. Discount received from him Rs.300. Jan20. Drew from Bank Rs.3,000 Jan22. Cash drawn from Bank for personal use Rs.2,000. Jan24. Cash Sales,Rs. 1,900. Jan27. Received from Sharma Rs.18,000. Discount allowed Rs.500. Jan28. Deposited cash into Bank Rs.15,000. Jan28. Gave cheque for cash purchases Rs.2,240 Jan30. Paid rent by cheque each Rs.2,000
Answer:
Sumanto, Kochi
Two-Column Cash Book
Date Description Cash Bank Dis. Date Description Cash Bank Dis.
All'd Rec'd
Jan. 1 Balance 1,000 14,500 Jan. 2 Bank 50,000
Jan. 1 Shares 60,000 Jan.14 Stationery 500
Jan. 2 Cash 50,000 Jan.18 Purchase 6,720
Jan. 8 Mohan 9,800 200 Jan.19 Shyam 3,700 300
Jan.20 Bank 3,000 Jan.20 Cash 3,000
Jan.24 Sales 1,900 Jan.22 Drawings 2,000
Jan.27 Sharma 18,000 500 Jan.28 Bank 15,000
Jan.28 Cash 15,000 Jan.28 Purchases 2,240
Jan.30 Rent 2,000
Jan.30 Balance 11,680 76,360
83,900 89,300 700 83,900 89,300 300
Feb. 1 Balance 11,680 76,360
Explanation:
Sumanto, Kochi's two-column Cash Bank shows two columns for cash and bank on the debit and credit sides and also the discount allowed and discount received on the debit and credit sides respectively.
The US economy is a command economy.
A. True
B. False
Answer:
hmmmm i'd say true if not then false
Most organizations with strong cultures and a sound system of rewards and incentives can eventually internalize boundaries rather than use explicit rules and regulations. What is the technique for moving in that direction?
Answer: minimize training and indoctrination.
Explanation:
From the question, we are informed that most organizations with strong cultures and a sound system of rewards and incentives can eventually internalize boundaries rather than use explicit rules and regulations.
The technique for moving in that direction is to minimize training and also indoctrination. It should be noted that organizations should employ people who already possesses the culture of the organization. This will help to reduce training and also makes the goals of the said organization to be achieved quickly.
assume that your roommate is very messy. According to campus policy, you have a right to live in an uncluttered apartment. Suppose she gets an $80 benefit from being messy but imposes a $60 cost on you. The Coase theorem would suggest that an efficient solution would be for your roommate to
Answer:
her to pay you at least $60 but less than $80 to live with the clutter
Explanation:
The Coase theorem states that when transaction cost is low, all parties involved will be able to bargain and reach an efficient outcome that benefits both parties. Based on this the efficient solution would be for her to pay you at least $60 but less than $80 to live with the clutter. Making it higher than the cost imposed on you but less than her benefit, thus ultimately benefiting both parties.
9. You decide to run a landing page experiment to test a new carousel which highlights your top performing products. Which two reports could you use to determine which products to highlight? (select two)
Answer:
Product Performance and Ecommerce Overview
Explanation:
These are the options to the question;
Shopping Behavior Analysis
✓Product Performance
✓Ecommerce Overview
✓Sales Performance
Whenever you decide to run a landing page experiment, to test a new carousel which highlights your top performing products, the two reports that could be use to determine which
Products to highlight are Product Performance and Ecommerce Overview.
Product performance is essential to test a new carousel which highlights your top performing products so that the functionality part of the product can be known.
E-commerce overview is crucial to test a new carousel which highlights your top performing product because e-commerce gives the insight to buying and selling of the products.
Records show that Banker Fred has increased the interest rate on all loans to Native Americans by an additional 3%. Has Banker Fred violated any laws?
Answer:
Yes, this would be viewed as discriminatory
Explanation:
Based on this scenario it can be said that Yes, this would be viewed as discriminatory. Since Fred increased the interest rate ONLY on those individuals whose race is that of Native American then that is disrimination of the basis of race. Which they can be sued for doing this since the Equal Credit Opportunity Act (ECOA) prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance.
In the language of global marketing, ________ is the phrase used to describe advertising that represents a middle ground between 100% standardization and 100% localization.
Complete Question:
In the language of global marketing, ________ is the phrase used to describe advertising that represents a middle ground between 100% standardization and 100% localization:
Group of answer choices
A) "stereotype advertising"
B) "template advertising"
C) "cookie-cutter advertising"
D) "compromise advertising"
E) "pattern advertising"
Answer:
E) "pattern advertising"
Explanation:
In the language of global marketing, pattern advertising is the phrase used to describe advertising that represents a middle ground between 100% standardization and 100% localization (adaptation).
Companies that have their businesses across the world are poised with the question of how to advertise; whether to use a single (standard) advert in all of their business locations (countries) or to diversify their adverts. A pattern advertising is an effective marketing strategy to help them answer this question. It is a combination of 100% standardization and 100% localization.
Berning Company purchased a tractor at a cost of $180,000. The tractor has an estimated salvage value of $20,000 and an estimated life of 8 years, or 10,000 hours of operation. The tractor was purchased on January 1, 2016 and was used 2,400 hours in 2016 and 2,100 hours in 2017. On January 1, 2018, the company decided to sell the tractor for $70,000. Berning uses the units-of-production method to account for the depreciation on the tractor. Based on this information, the entry to record the sale of the tractor will show:
Answer:
$38,000 loss
Explanation:
For calculation of entry to record the sale of the tractor first we need to determine the total depreciation and net book value on Jan 1, 2018 which is shown below:-
Total depreciation = (Tractor cost - Salvage value) × (Hours in 2016 + Hours in 2017) ÷ Hours of operation
= ($180,000 - $20,000) × (2,400 + 2,100) ÷ 10,000
= $72,000
Net book value on January 1, 2018 = Tractor cost - Total depreciation
= $180,000 - $72,000
= $108,000
Loss on sale = Sold tractor amount - Net book value on January 1, 2018
= $70,000 - $108,000
= $38,000
Basic activities in every accounting department, including sales order processing, accounts receivable, inventory and purchasing, accounts payable, and payroll, are recorded in the _______.
Answer:
General ledger
Explanation:
A general ledger in accounting is a book pf account that is meant to record the business' transaction entries towards the preparation of the income statement and the statement of financial position.
It records activities like sales order processing , accounts receivable , inventory and purchasing , accounts payable and payroll
We have two types of general ledger which are private ledger that records transaction on salaries , wages and capitals , and nominal ledger that records transaction on expense , income , depreciation etc.
Because each supply chain process should add value to the products or services a company produces, a supply chain is frequently called a __________ chain.
Answer:
value
Explanation:
because the process is adding values to product
Discuss the primary goals of expansionary and contractionary fiscal policies and their effects on unemployment rates, inflation rates, interest rates, private investment, and GDP.
Answer:
The primary goals of expansionary and contractionary fiscal policies and their effects on unemployment rates, inflation rates, interest rates, private investment, and GDP:
Country A pursues expansionary fiscal policy in order to grow the economy and create full employment. For example, If Country B decides to cut tax rates or increase government spending, shifting the aggregate demand curve to the right , then it wants the economy to expand.
On the other hand, US Congress can also decide to raise tax rates or cut government spending, thus shifting aggregate demand to the left.
Explanation:
Country A's expansionary fiscal policy reduces the unemployment rates, increases inflation rates, interest rates, private investment, and GDP.
The US contractionary fiscal policies ensure that the unemployment rate is increased, while inflation and interest rates are reduced. There is also reduced private investment and GDP as a result of the contractionary fiscal policies.
An attribute is a characteristic or property of an entity. if person is an entity, would the same attributes be used to describe a person in different databases that store medical, student, and fitness club data? why or why
The attribute is a character or the property of the entity and can be related to the person and is an entity. Thus the answer is members' data.
What does the attribute that tells about ?The attribute can be used for understanding the different people and can be used to analyze their personalities on the basis of the data gathered.
The attribute tells us about the quality or the nature and relates to the ideas and the philosophies. The attributes of the club members can be told from watching their data.
Hence it's based on the data stored in the medical database.
Find out more information about the characteristic.
brainly.com/question/3661510.
"The legislation that requires a broker-dealer's research analysts to be completely separated from that firm's investment banking department is the:"
Answer:
Sarbanes-Oxley Act of 2002.
Explanation:
Sarbanes-Oxley Act of 2002 is a legal framework which was passed by the 107th U.S Congress on the 30th of July, 2002. The law required that investment banking be completely made rid of research analysts who works at a broker-dealer firms, so that the analysts are not influenced to write favorable reports to enhance their potential investment banking businesses.
Hence, the legislation that requires a broker-dealer's research analysts to be completely separated from that firm's investment banking department is the Sarbanes-Oxley Act of 2002.
It is a law that imposes a stiffer penalty for any securities related law break offence by the accountants, auditors etc by mandating strict reforms to the existing securities regulations.
If employees are to be empowered to truly make a difference, they must have the power to make _____ decisions.
Answer:
substantive.
Explanation:
Substantive decisions in a company are those that will directly influence organizational results.
In centralized organizations, decision-making processes are essentially taken at the top of the hierarchy, it is only the leader who makes important company decisions.
In a decentralized organization, however, there is greater flexibility, which consists of integrating the decision-making process at all hierarchical levels, as it is believed that there is a reduction in the response time of the decision, greater understanding of the problem by employees who are experiencing it and motivate them and increase their job satisfaction.
Seller Dayne was made aware by the trustee that the lender was wanting to proceed with foreclosure on his property. What type of financial agreement does Seller Dayne have with this lender
Answer:
Promissory agreement and Deed of trust.
Explanation:
In this scenario, Seller Dayne was made aware by the trustee that the lender was wanting to proceed with foreclosure on his property. The type of financial agreement that Seller Dayne have with this lender is a Promissory agreement and Deed of trust.
A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.
On the other hand, a deed of trust can be defined as a legal document used by a party (borrower) to pledge his or her property to another party (lender) as guarantee or collateral for the repayment of a loan. The deed of trust is typically made up of three (3) parties; the lender, borrower and a trustee.
Additionally, a foreclosure on a property refers to a legal procedure whereby the property being pledged by a borrower for a debt is sold to pay off the debt as a result of defaulting in payments or terms with respect to a loan.
create a bulleted list of four descriptive terms describing possible backgrounds a person may have
Answer with Explanation:
The possible descriptive terms which describes the background a person may have are listed below:
He might be happy, sad or crazy.Honesty values that the person have.Quick Learner, innovator or creative personHe might be introvert or extrovert.He might be welcoming diversity.There are number of descriptive terms that can shed light on the behaviour and background of the person.
Employee recognition programs have been found to be associated with increased employee ________. self-esteem citizenship behaviors job satisfaction self-esteem and job satisfaction self-esteem, citizenship behaviors, and job satisfaction.
Answer:
self-esteem and job satisfaction
Explanation:
Employee recognition programs make workers feel they are appreciated and that the work they do is relevant to the firm they work for. It is also makes them feel recognised by their company. These increases self-esteem and job satisfaction
Assume that chips cost $1 and soda costs $2. If the consumer has $14, the combination of goods that would maximize his utility per dollar and remain within his budget would be
Answer:
The remaining amount that the consumer would have would be $11
Explanation:
If the person originally had $14 but spent $3 all together on their items they would remain with the amount of $11.
(I hope this helps, I'm not sure if it's exactly what you were looking for but it's something so...)
Conjoint studies are run to understand how consumers make a. impressions. b. trade-offs. c. money. d. observations.
Conjoint studies are run to understand how consumers make trade-offs. Option (b) is correct.
Conjoint analysis is a statistical technique for market research that quantifies the key attributes that customers find most appealing in a specific good or service. Businesses can gather exact audience data through conjoint analysis to make better decisions regarding their products and prices.
Companies use conjoint analysis, a type of statistical analysis, in market research to comprehend how customers value various aspects or qualities of their goods or services.
Learn more about conjoint, here;
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