A hypothesis is an empirically testable though yet unproven statement developed in order to explain phenomena. Option E.
A hypothesis is a theory put up to explain a phenomenon. A hypothesis must be testable according to the scientific method for it to be considered a scientific hypothesis. Scientific hypotheses are typically based on prior observations that cannot be adequately explained by the current body of knowledge.
Despite the frequent confusion between the terms "hypothesis" and "theory," a scientific hypothesis differs from a scientific theory. A working hypothesis is an accepted theory that has been tentatively supported and is put up for further investigation.
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Generally accepted auditing standards require auditors to be independent. Included within this standard are the concepts of independence in fact and independence in appearance. Required: For each of the following, identify whether it is most appropriately associated with independence in fact (Fact), independence in appearance (Appearance), both (B), or neither (N). 1 points 8 00:29:55 Fact Appearance Fact eBook a. Relates to the auditors' "state of mind." b. Relates to others' perceptions of the auditors' independence. c. Reflects an unbiased and impartial perspective with respect to the financial statement audit. d. The auditors' firm provides extensive consulting services to the client; these services provide revenues to the firm that exceed revenues received from the audit engagement. The spouse of the partner in charge of the audit engagement occupies an executive-level position within the client. e. A distant relative of a partner within the firm occupies an entry-level position within the client of the firm. (The audit is conducted by another office of the firm with which the partner has infrequent contact). e. A staff member within the firm owns shares of stock of one of that firm's clients. (She is not a member of the 9 engagement team serving that client.) d. . Appearance Appearance B Ð’ B
"Professional review of financial records of any entity, while profit oriented or not, regardless of the size of legal form when such an evaluation is done with the a mind to offer any conclusion thereto" what is meant by an audit.
The purpose of auditing is to make certain that a business is keeping its books of accounts in accordance with the law. Auditors analyse the claims made in their auditing report after analyzing the statements and gathering relevant evidence.
a. Relates to the auditors' "state of mind." - A
b. Relates to others' perceptions of the auditors' independence.- A
c. Reflects an unbiased and impartial perspective with respect to the financial statement audit- B
d. The auditors' firm provides extensive consulting services to the client; these services provide revenues to the firm that exceed revenues received from the audit engagement. The spouse of the partner in charge of the audit engagement occupies an executive-level position within the client- D
e. A staff member within the firm owns shares of stock of one of that firm's clients. (She is not a member of the 9 engagement team serving that client.) - B
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Account Balances a. During February, $194,500 was paid to creditors on account, and purchases on account were $210,400. Assuming that the February 28 balance of Accounts Payable was $62,500, determine the account balance on February 1.
The account balance on February 1 would be the sum of purchases on account during February ($210,400) minus the payments to creditors on account during February ($194,500) minus the February 28 balance of
Accounts Payable ($62,500). This would result in an account balance of $53,400 on February 1.
In order to understand the account balance on February 1, it is important to understand what the purchases on account and payments to creditors on account refer to. Purchases on account are the amounts that a company owes to its suppliers for goods and services, while payments to creditors on account refer to the amounts that have been paid to those suppliers.
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The supplies account had a beginning balance of $4,630 and was debited for $2,180 for supplies purchased during the year. Jounalize the adjusting entry required at the end of the year, assuming the amount of supplies hand is $2,720.
The adjusting entry will be Supplies expense $4,090 (debit) Supplies $4,090 (credit) 4630+2180-2720=4090
Supplies expense is the price of the consumables used within a reporting period. Depending on the type of company, this may be one of the more expensive corporate expenses. The following two categories of supplies may be charged as expenditures. Accounting experts can create financial reports that are more thorough and accurate by including the materials expense. Employee purchases and removals of materials from the storage locker for use are balance sheet assets that become expenses on the income statement. Adjusting entries move items used from supplies on hand to the supplies expenditure account at the end of each reporting month.
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As part of a company's ongoing SOC maturation process, the company wants to implement a method to share cyberthreat intelligence data with outside security partners. Which of the following will the company most likely implement? A) TAXI B) TLP C) TTP D) STIX
The following option that show us about the best method to share cyberthreat intelligence data with outside security partners is A. TAXII. TAXII also known as Trusted Automated Exchange of Intelligence Information.
In the term of organizations, Trusted Automated Exchange of Intelligence Information also known as TAXII. TAXII generally can be defined as an application layer protocol used to exchange cyber threat intelligence (CTI) over HTTPS. By using Trusted Automated Exchange of Intelligence Information also known as TAXII, the organizations are able to share CTI by defining an API that aligns with common sharing models.
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Which of the following has primary responsibility for the fairness of the representations made in financial statements?
(a) Client's management.
(b) Independent auditor.
(c) Audit committee.
(d) AICPA.
Customer relationship management is the process by which a company or other association manages its relations with guests. The answer is option A, client management.
They are primarily responsible for the objective preparation of the financial statements to the standards established by generally accepted accounting principles. They are held accountable for the claims they make, which are verified by external auditors.
Customer management is the process of overseeing and coordinating an organization's interactions with its current and potential customers. The role of customer management is to improve customer service and strengthen the relationship between the company and its customers.
It includes various kinds of practices from social media marketing and customer services. Strong customer relationships help you make more money and grow your business.
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Spartan Credit Bank is offering 7.4 percent compounded daily on its savings accounts. You deposit $5,800 today. a. How much will you have in the account in 6 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have in the account in 11 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How much will you have in the account in 18 years?
Step by step explanation:
giving data:
Interest rate (I) 7.4% compounded dailyThe current deposit is $5,800Y (year) = 365 daysQuestion:
How much will you have in 6 years?How much will you have in 11 years?How much will you have in 18 years?Answer:
Percentage Investment per day = I / Y = 7.4 % / 365 = 0.02027%
Present Value (PV) = %5,800
FV = PV × [tex](1 + I)^{n}[/tex]
N = 6 × 365 = 2,190
FV= $5,800 ×[tex](1 + 0.02027)^{2,190}[/tex]
FV = $9,040.60
N = 11 × 365 = 4,015
FV = $5,800 × [tex](1 + 0.02027)^{4,015}[/tex]
FV= $13,086.96
N = 18 × 365 = 6,570
FV = $5,800 × [tex](1 + 0.02027)^{6,570}[/tex]
FV = $21,965.26
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the adjusted trial balance for Wildhorse Co is given below. Prepare the closing entries for the temporary accounts at August 31
The entries to close "Supplies", "Accounts Payable", "Salaries and Wages Payable", "Unearned Rent Revenue", and "Accumulated Depreciation-Equipment" are not required as they are already zeroed out on the adjusted trial balance after adjustment.
What informs the closing entries?The closing entries for the temporary accounts at August 31 would be:
Date: Aug 31
Account Titles and Explanation: Service Revenue
Debit: $34,610
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Rent Revenue
Debit: $13,200
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Salaries and Wages Expense
Debit: $18,210
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Supplies Expense
Debit: $1,620
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Rent Expense
Debit: $17,241
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Insurance Expense
Debit: $1,250
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Depreciation Expense
Debit: $1,200
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Dividends
Debit: Retained Earnings
Credit: $2,760
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The complete question goes thus:
The adjusted trial balance for Wildhorse Co. is given below. Prepare the closing entries for the temporary accounts at August 31. WILDHORSE CO. Trial Balance August 31, 2022 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash 10,000 10,000 Accounts Receivable 8,720 9,400 2,850 Supplies Prepaid Insurance 1,230 4,370 3,120 Equipment 15,160 15,160 Accumulated Depreciation-Equipment 3,411 4,611 Accounts Payable 5.190 5,190 Salaries and Wages Payable 0 1,270 Unearned Rent Revenue 1.840 1.070 Common Stock 16.110 16110 Question 2 of 5 < > Accumulated Depreciation Equipment $ $ 3,411 $ 4,611 Accounts Payable 5,190 5,190 Salaries and Wages Payable 0 1,270 Unearned Rent Revenue 1,840 1,070 Common Stock 16,110 16,110 Retained Earnings 5,130 5,130 Dividends 2,760 2,760 Service Revenue 33,930 34,610 Rent Revenue 12.430 13,200 Salaries and Wages Expense 16,940 18,210 Supplies Expense 0 1,620 Rent Expense 17.241 17,241 Insurance Expense 0 1.250 Depreciation Expense 0 1,200 $ 78,041 $ 78,041 $ 81.191 $ 81.191 Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry for the acc Question 2 of 5 -/36 E Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Aug. 31 (To close revenue accounts) Aug. 31 (To close expense accounts) Aug. 31 (To close income/(loss)) Aug. 31 (To dose dividends)
A fixed asset's estimated value at the time it is to be retired from service is called
a. book value
b. carrying value
c. residual value
d. market value
The correct answer is residual value.
What is residual value?
The residual value, also known as salvage value, is the estimated value of a fixed asset at the end of its useful life or lease period. The residual value is one of the primary methods used by lessors in lease agreements to determine how much the lessee must pay in monthly lease payments. Generally, as an asset's usable life or lease term lengthens, its residual value declines.
The definition of residual value—what endures—remains the same, despite the fact that the computations differ per industry. The price at which an asset may be sold after it has fulfilled its function for the business or when it is no longer feasible to predict the asset's future cash flows is represented by residual values in capital budgeting projects.
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Altex Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assigning to each product line, the controller, Robert Hermann, has developed the following information.Car TruckEstimated wheels produced 42,000 11,000Direct labor hours per wheel 1 3Total estimated overhead costs for the two product lines are $863,000. Calculate the overhead rate.
The overhead rate is $11.50 per direct labor hour
The overhead rate is the proportion of a company's indirect expenditures, such as rent and other administrative expenses, to its direct costs, sales, or other inputs, like machine hours. It gives business owners and managers an idea of indirect costs in comparison to, say, its direct manufacturing or gross sales costs.
We must first determine the predefined overhead rate
Whole expected periodical overhead expenses divided by the total amount of the allocation basis gives the predetermined manufacturing overhead rate.
Total direct labor hours= (42,000 x 1) + (11,000 x 3)= 75,000
predetermined manufacturing overhead rate= $863,000/75,000
Predetermined manufacturing overhead rate= $11.50 per direct labor hour
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A person who takes a negotiable instrument for value, in good faith, and without notice that it is defective or overdue is referred to as a(n) ________.
A. holder
B. assignee
C. holder in due course
D. unqualified indorser
Holder in due course is a person who accepts a negotiable instrument for its face value, in good faith, and without knowledge that it is defective or overdue.
The Holder in due course is a person who accepts a negotiable instrument in good faith and for valuable compensation.
A holder in due course (HDC) in business law is someone who accepts a negotiable instrument in a value-for-value exchange having no reason to question that the instrument will be paid.
In due course, a holder can compel payment from the person who initiated it as well as any previous holders, regardless of any contending claim those entities may have against each other.
This privilege protects the bearer against the risk of taking securities without fully understanding their history.
Payment rights are not susceptible to set-off and are not dependent on the validity of the underlying contract that gave rise to the debt.
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select all that apply which of the following would be considered a source document in an accounting system? (check all that apply.) multiple select question. a) sales receipt b) checks c) purchase order d) budget e) payroll records
The terms that would be considered a source document in an accounting system are:
a) sales receipt
b) checks
c) purchase order
e) payroll records
What are source document in an accounting system?Companies may also utilize a source document as evidence in negotiations with business partners, typically in connection with payments. Cancelled checks, credit memos, deposit slips, expense reports, invoices, material requisition forms, purchase orders, time sheets, and sales receipts are a few examples of source documents.
A source document provides all the essential details of the transaction, including the amount, the recipient, the reason for the transaction, and the date of the transaction. Checks that have been cancelled are typical source documents. Invoices.
Therefore, option A, B C and E are correct.
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The restaurant made ______ from selling drinks. The restaurant sold ______ Double Mapleton Burgers.The restaurant sold a grand total of __________ items.
The restaurant made $7.98 from selling drinks. The restaurant sold 2 Double Mapleton Burgers. The restaurant sold a grand total of 30 items.
How Do Companies Make Money?The company is a business entity established to make a profit by selling a product. The products sold by this company can be either goods or services. In the company illustrated in the problem, the company is a company that sells goods and the goods sold are burgers and drinks. To be able to calculate the net income that the company gets, we will reduce the selling price of the goods by the production costs incurred by the company to create these goods.
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if a fitness center owner decides to hire additional employees but does not change the size of the fitness center or the amount of capital available to its employees to perform their tasks, the fitness center will likely experience.
The fitness center will likely experience an increase in its variable costs.
When a fitness center hires additional employees, it incurs additional wages and benefits expenses, which are considered variable costs because they vary with the level of production. This means that as the number of employees increases, the fitness center's variable costs will also increase, potentially leading to a rise in its overall costs and a decrease in profit margins.
However, there may also be potential benefits such as increased productivity and customer satisfaction, which could offset the increase in costs. The fitness center owner should consider the trade-off between the benefits and costs of hiring additional employees before making a final decision.
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An Apple Computer store sells computers for $1,287.72. Assuming the computers cost $10,512 per dozen. Find the dollar markup for each computer. Note: Round your answer to the nearest cent. Find the percent markup on cost for each computer. Find the percent markup on selling price for each computer. Note: Round your answer to the nearest hundredth percent.
the dollar markup for the computer is $411.72
the percentage markup on the cost price is 47.12%
the percentage markup on the selling price is 31.86%
the dollar markup of any commodity can be calculated by subtracting the selling price of a commodity and its cost of production ( per item)
[tex]dollar markup= selling price - cost price[/tex]
markup= 1287.72 - (10512/12)
markup = $ 411.72 per computer
percentage markup on cost can be calculated by using the formula
[tex]\frac{profit earned}{cost} X 100[/tex]
(411.72/876) = 0.4712
0.4712 X 100 = 47.12 %
percentage markup on the selling price can be calculated using the formula:
[tex]\frac{profit earned}{selling price} X100[/tex]
(411.72/1287.72) = 0.3186
0.3186 X 100 = 31.86%
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The computer has a $411.72 dollar markup. Simply multiply the cost of goods by the markup rate and add the result.
What is markup vs margin?In terms of terminology, markup percentage refers to the percentage difference between the actual cost and the selling price, whereas gross margin percentage refers to the percentage difference between the selling price and the profit.
the percentage markup on the cost price is 47.12%
the percentage markup on the selling price is 31.86%
markup= 1287.72 - (10512/12)
markup = $ 411.72 per computer
(411.72/876) = 0.4712
0.4712 X 100 = 47.12 %
(411.72/1287.72) = 0.3186
0.3186 X 100 = 31.86%
Thus, the 47.12% markup on the selling price for each computer.
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In the corn futures contract a number of different types of corn can be delivered (with price adjustments specified by the exchange) and there are a number of different delivery locations. Which of the following is true?A This flexibility tends to increase the futures price.B This flexibility tends to decrease the futures price. CThis flexibility may increase and may decrease the futures price.D This has no effect on the futures price.
The only true statement is C: "This flexibility may increase and may decrease the futures price".
The flexibility of different types of corn and delivery locations in a corn futures contract can have a varying impact on the futures price. For example, if a specific type of corn is in high demand and short supply, the futures price for that type may increase. On the other hand, if there is a surplus of a specific type of corn and low demand, the futures price for that type may decrease. The same holds true for different delivery locations, as factors such as transportation costs, storage availability, and local supply and demand can impact the price.
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Silas 4-Wheeler, Inc. has an ROE of 18.06 percent, equity multiplier of 1.40, and a profit margin of 15.00 percent.
What is the total asset turnover and the capital intensity? (Round your answers to 2 decimal places.)
Total asset turnover = Return on equity / ( Net profit margin X Equity multiplier
Total asset turnover = 55.33
The capital intensity ratio is the reciprocal of the total asset turnover ratio.
Capital intensity ratio = 0.018
What is the capital intensity?The capital intensity is the amount of fixed or real capital present in relation to other factors of production, especially labor.
At the level of either a production process or the aggregate economy, it may be estimated by the capital to labor ratio, such as from the points along a capital/labor isoquant.
The Capital intensity ratio in the above case will be 0.018.
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select all that apply when predetermined overhead rates are based on budgeted activity . multiple select question. unit product costs fluctuate depending upon budgeted level of activity products are charged for resources they don't use the overhead cost per unit decreases as budgeted output decreases units that are sold absorb the costs of any unused capacity.
The following statements are true as per the question -
Products are charged for resources they don't use Unit product cost fluctuates depending on the budgeted level of activity.Product costs are the immediate costs engaged with creating an item. A producer, for instance, would have item costs that include:
Direct labourRaw materialsFabricating suppliesAbove that is straightforwardly attached to the creation office like power
For a retailer, the item expenses would incorporate the provisions bought from a provider and some other costs engaged with offering their merchandise for sale to the public. So, any costs caused during the time spent gaining or fabricating an item are viewed as item costs.
Item costs are frequently treated as stock and are alluded to as "inventoriable expenses" on the grounds that these expenses are utilized to esteem the stock. At the point when items are sold, the item costs become piece of expenses of products sold as displayed in the pay explanation.
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Complete Question -
select all that apply, when predetermined overhead rates are based on budgeted activity . multiple select question
unit product costs fluctuate depending upon budgeted level of activity products are charged for resources they don't use the overhead cost per unit decreases as budgeted output decreases units that are sold absorb the costs of any unused capacity.a disabled tenant has requested reasonable accommodations be made inside his unit to improve his ability to move around and enjoy the unit. under ada, which of these actions must the landlord take?
Under the Americans with Disabilities Act (ADA), landlords are required to provide reasonable accommodations to disabled tenants which includes making modifications to the unit
Some common reasonable accommodations for disabled tenants include installing grab bars in the bathroom, lowering kitchen cabinets and shelves, and widening doorways for wheelchair access.
It's important to note that the specific reasonable accommodations required will depend on the individual tenant's needs and disabilities. The landlord must engage in an interactive process with the tenant to determine what accommodations are necessary and reasonable.
In general, the landlord must make the requested reasonable accommodations, unless doing so would create an undue financial or administrative burden. However, the landlord is not required to make modifications that would fundamentally alter the nature of the housing or impose an undue hardship on the landlord's operations.
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Lola is training her team on the importance of considering the customer's experience when the host greets them, when
the server takes an order, when the manager stops by the table, when the chef brings out dinner, and when the bill is
handled. What are these moments with the customer called?
O
user experience
O
conflict resolution
customer touchpoints
marketing and communication
Answer:
Customer touchpoints.
Explanation:
Customer touchpoints are the various interactions that customers have with a company throughout their journey, from the initial contact to the post-purchase stage. In the context of the restaurant industry, the moments when the host greets the customers, the server takes an order, the manager stops by the table, the chef brings out dinner, and the bill is handled are all examples of customer touchpoints. These touchpoints can have a significant impact on the customer's overall experience and can influence their decision to return to the restaurant or recommend it to others. By training her team to focus on these touchpoints and the customer's experience, Lola is emphasizing the importance of providing high-quality service at every stage of the customer journey.
Who among the following is associated with contributions to quality control in operations management?1.Charles Babbage2.Henry Ford3.Frank Gilbreth4.W. Edwards Deming5.Henri Fayo
"W. Edwards Deming" is associated with contributions to quality control in operations management among the available candidates. Here option 4 is the correct answer.
Quality management theory by William Edwards Deming (1900-1993) is often considered the most influential. He was a statistician and business consultant whose methods benefited Japan's postwar recovery and beyond.
The control philosophy was proposed by W. Edwards Deming. He claims that businesses or firms that focus on increasing quality would inevitably save costs. Cost-cutting firms, on the other hand, would unavoidably degrade quality, rising production costs.
Dr. W. Edwards Deming's approach to quality was straightforward yet unconventional. He said that firms that concentrated on improving quality would automatically lower costs, but organizations that focused on cost reduction would immediately reduce quality and actually increase expenses.
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an economic theory about international trade that is based on the assumption that there are onlytwo countries trading two goodsA. is useless, since the real world has many countries trading many goods.B. can be useful only in situations involving two countries and two goodsC. can be useful in the classroom but is useless in the real worldD.can be useful in helping economists understand the complex world of international trade involving many countries and many goods
The correct option is C. An economic theory about international trade that is based on the assumption that there are only two countries trading two goods can be useful in the classroom but is useless in the real world.
The monetary principle is based on the idea that traders and clients are rational and really “efficient machines,” particularly, that they make first-rate picks for themselves. Laboratory assessments monitor that buyers' behavior is lots more complex relative to the behavior assumed in maximum economic theories.
Its reason is to analyze and provide an explanation for the behavior of the numerous monetary factors. The body of financial concepts may be divided into two vast categories, high-quality principle, and welfare theory. Economies of scope describe situations wherein generating or greater items together outcomes in a decreased marginal value than generating them one at a time. the monetary idea includes generalizations which are statements of popular dispositions or uniformities of relationships among various factors of financial phenomena. A generalization is the established order of a preferred truth on the premise of unique experiences.
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According to zillow.com, the typical selling price of single-family homes for sale in Corvallis, Oregon in Spring 2018 are provided with two measurements: 399,000 US Dollars and 419,000 US Dollars. Which of these measurements is the mean? Which is the median?
The mean is 409,000 US Dollars and the median is 409,000 US Dollars.
The mean and median are two important measures of central tendency that provide information about the average price of homes in Corvallis, Oregon in Spring 2018.
The mean is calculated by adding up all of the prices of homes and then dividing that sum by the number of homes. The mean gives us an idea of what the average home price is, but it can be influenced by outliers or extreme values.
The median, on the other hand, is the middle value of all the prices when the prices are arranged in order from lowest to highest. The median provides a better representation of what the typical home price is, since it is not as affected by outliers as the mean.
In this case, the mean is calculated as
=> (399,000 + 419,000) / 2 = 409,000 US Dollars.
This means that the average price of a home in Corvallis, Oregon in Spring 2018 is around 409,000 US Dollars.
The median, in this case, is 409,000 US Dollars. This is because there are only two prices, and 409,000 is the middle value.
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In alphabetical order below are current asset items for Roland Company’s balance sheet at December 31, 2022.Accounts receivable $200,000Cash 83,000Finished goods 89,000Prepaid expenses 44,000Raw materials 94,000Work in process 92,000
Total Current belongings = $622,000. Total current belongings is the combination quantity of all cash, receivables, prepaid expenses, and inventory on an organization's balance sheet.
These assets are classified as current assets if there is an expectation that they will be transformed into money within one year.
What are complete modern assets examples?Current property consist of cash, cash equivalents, debts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets
Current assets are a company's non permanent assets; these that can be liquidated quickly and used for a company's instantaneous needs. Noncurrent belongings are long-term and have a useful existence of more than a year. Examples of modern-day assets encompass cash, marketable securities, inventory, and money owed receivable.
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https://brainly.com/question/24848903#SPJ4two products have a cross-price elasticity of demand of 1.5. based on this value of cross-price elasticity, which of the following products are they most likely to be?
The cross-price elasticity of demand of 1.5 between two products indicates that they are substitutes and that a change in the price of one product will have a significant impact on the demand for the other product.
Elasticity is a concept in economics that refers to how sensitive the demand for a product is to changes in price or the price of a related product.
When the cross-price elasticity of demand between two products is 1.5, it means that a 1% increase in the price of one product will result in a 1.5% decrease in the demand for the other product. In mathematical terms, this relationship can be represented as:
ΔQ1/Q1 = 1.5 (ΔP2/P2)
Where ΔQ1 is the change in the demand for product 1 and ΔP2 is the change in the price of product 2.
Based on this value of cross-price elasticity, the two products are most likely to be substitutes, meaning they can be used interchangeably by consumers.
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which of the following are similarities between notes payable and accounts payable? they both . (select all that apply.)
Notes payable and accounts payable are two types of financial obligations that are commonly used in accounting and finance. While they are distinct concepts, there are some similarities between the two.
Both are liabilities: Notes payable and accounts payable are both considered liabilities on a company's balance sheet. This means that they represent money owed by the company to creditors or suppliers.
Short-term obligations: Both notes payable and accounts payable are typically short-term obligations that are expected to be paid within a year or less.
Interest bearing: Notes payable usually carry interest, while accounts payable do not. However, if the terms of the accounts payable specify that interest will be charged on late payments, then the accounts payable would become interest-bearing as well.
Involve third parties: Both notes payable and accounts payable involve third parties. Notes payable are typically issued to lenders or financial institutions, while accounts payable are owed to suppliers or vendors.
In conclusion, notes payable and accounts payable are similar in that they are both liabilities on a company's balance sheet, they are both typically short-term obligations, and they both involve third parties. However, notes payable are usually interest-bearing, while accounts payable may or may not be, depending on the terms of the agreement.
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On january1, 1994, Joan smith BEGAN HER BUSINESS BY INVESTING 35,000 in cash in a checking account that she open in the name of business
On january1, 1994 Joan Smith starting the business by investing Owner's Equity account under the Owner's investment revenue.
What do you mean by Owner's investment revenue?Money that the business's owner invested. plus the company's overall earnings since start. minus the money the owner has taken out of the company. less any debts to third parties.
Owner's equity, or the worth of the company assets owned by the business owner, is an owner's stake in the company. It is equal to the sum of the owner's initial investment less any withdrawals from the business.
Therefore, on january1, 1994 Joan Smith starting the business by investing Owner's Equity account under the Owner's investment revenue.
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The complete question is attached:
A 20-year annuity pays $2,200 per month at the end of each month. If the APR is 10 percent compounded monthly for the first nine years and 7 percent compounded monthly thereafter, what is the value of the annuity today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The value of the annuity is $26,652.45.
How did we get the value?To calculate the value of the annuity, we need to find the present value of each payment, which takes into account both the time value of money and the interest rate.
For the first 9 years, the interest rate is 10 percent compounded monthly, so the interest factor for each payment is (1 + 0.10/12)^(12 * n), where n is the number of years from the payment date.
For the remaining 11 years, the interest rate is 7 percent compounded monthly, so the interest factor for each payment is (1 + 0.07/12)^(12 * n), where n is the number of years from the payment date.
The present value of each payment is the payment amount divided by the interest factor.
Finally, the value of the annuity is the sum of the present values of all the payments.
Here is the calculation:
years = 20
payment = 2200
rate1 = 0.10/12
rate2 = 0.07/12
value = 0
for i in range(years):
if i < 9:
interest_factor = (1 + rate1) * (12 * (i + 1))
else:
interest_factor = (1 + rate2) * (12 * (i + 1))
present_value = payment / interest_factor
value += present_value
value = round(value, 2)
The value of the annuity is $26,652.45.
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The difference between revenues and the expenses needed to operate the business is its?
The difference between revenues and the expenses needed to operate the business is its net income.
Income is the aggregate sum of income an organization makes fewer costs. It is determined by taking away the expenses of carrying on with work, like deterioration, interest, charges, and different costs from income.
The net gain is determined by taking income and deducting the expenses of carrying on with work, like devaluation, interest, charges, and different costs. The main concern, or overall gain, depicts how proficient an organization is with its spending and dealing with its working expenses.
Working income is communicated as the absolute of your deals barring any one-time expenses, for example, things bought for resale.
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Which of the following is not an operating activity? A. Receiving dividends B . Paying interest C . Collecting accounts receivableD . Purchasing insurance policies of more than one year E . Dividend payments
Dividend payments is not an operating activity .
What operations are being carried out?
The functions of a business that are directly involved in offering its products and/or services to the market are known as operating activities.
Manufacturing, distributing, promoting, and selling goods and services are some of the company's primary commercial operations.
Do dividends represent an operating activity?
The receiving of dividends is categorized as an operating activity. Dividend payments fall within the category of financial activities. The constant classification of interest and dividends as operating, investing, or financing cash operations applies to both the received and paid amounts.
Examples of operating activities include the collection of sales proceeds. Collection of unpaid debts. receipt of interest or its payment.
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When Monsanto donates money to elected politicians who sit on the House agriculture committee, it is using ____ to influence government.
Monsanto participates in lobbying when it gives more money to political officials who participate on the house agriculture committee.
Powerbrokers sometimes garner a bad rap in the media because they work to change laws so that corporations benefit.
In its original sense, lobbying pertained to efforts to influence legislators' votes, particularly in the lobby outside the legislative chamber. Lobbying is any endeavor by people or private interest groupings to influence government decisions. Any political system will unavoidably involve some form of lobbying.
Professional advocates who work to manipulate political outcomes on behalf of people and organizations are known as lobbyists. This engagement may result in the enactment of new legislation or the amendment of already-enacted rules and regulations.
Legislative revenue for the upcoming presidential election is tried to make sure of by lobbying.
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