Answer: Structural unemployment
Explanation:
Structural unemployment occurs when the skills needed by the job market are not the skills that unemployed people have.
It usually happens as a result of an improvement in technology because the technology introduced would make the skills that the previous workers had obsolete.
In this scenario, the introduction of more efficient elevators reduced the need for elevator operators so their skills were no longer needed and they became unemployed.
Milden Company is a merchandiser that plans to sell 29,000 units during the next quarter at a selling price of $57 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost Formula Cost of good sold $27 per unit sold Advertising expense $177,000 per quarter Sales commissions 6% of sales Shipping expense $75,000 per quarter + $4.00 per unit sold Administrative salaries $87,000 per quarter Insurance expense $9,700 per quarter Depreciation expense $57,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.
Answer:
1. Contribution format income statement for the next quarter.
Sales ( 29,000 units x $57) $1,653,000
Less Variable Costs
Cost of Sales ( 29,000 units × $27) $783,000
Sales commissions (6% x $1,653,000) $99,180
Shipping expense : Variable ($4.00 x 29,000 units) $116,000 ($998,180)
Contribution $654,820
Less Fixed Costs
Advertising expense ( $177,000)
Shipping expense : Fixed ($75,000)
Administrative salaries ($87,000)
Insurance expense ($9,700)
Depreciation expense ($57,000)
Net Profit $249,120
2. Traditional format income statement for the next quarter.
Sales ( 29,000 units x $57) $1,653,000
Less Cost of Sales ( 29,000 units × $27) ($783,000)
Gross Profit $870,000
Less Expenses
Sales commissions (6% x $1,653,000) ( $99,180)
Shipping expense : Variable ($4.00 x 29,000 units) ($116,000)
Advertising expense ( $177,000)
Shipping expense : Fixed ($75,000)
Administrative salaries ($87,000)
Insurance expense ($9,700)
Depreciation expense ($57,000)
Net Profit $249,120
Explanation:
A contribution format income statement calculates Contribution. This is arrived at by deducting Variable Costs to Provide a Sale from Sales Revenue. All the other costs (Fixed Costs) are treated as Period Costs and are Expensed in the Income Statement.
Where as traditional format income statement calculates Gross Profit. This is arrived at by deducting Cost of Sales from Sales Revenue. All other expenses are placed in the Income Statement.
Suppose the real risk-free rate is 3.00%, the average expected future inflation rate is 5.90%, and a maturity risk premium of 0.10% per year to maturity applies, i.e., MRP = 0.10%(t), where t is the number of years to maturity. What rate of return would you expect on a 1-year Treasury security, assuming the pure expectations theory is NOT valid? Disregard cross-product terms, i.e., if averaging is required, use the arithmetic average. a. 10.35% b. 7.29% c. 8.91% d. 9.00% e. 9.27%
Answer:
the rate of return that expected on one year treasury security is 9.00%
Explanation:
The computation of the rate of return that expected on one year treasury security is as followS
= Risk free rate + average expected future inflation rate + maturity risk premium
= 3.00% + 5.90% + 0.10%
= 9.00%
Hence, the rate of return that expected on one year treasury security is 9.00%
Therefore the correct option is d.
And, the rest of the options are wrong
A rise in the price of Pepsi that causes a household to shift its purchasing pattern toward Coke and away from Pepsi is the ________ effect of a price change. A) income B) substitution
Answer:Substitution ---B
Explanation:
When goods are closely related together such that they both give similar purpose , they are called Substitute goods.
Therefore when any of the substitute goods prices rises, Consumers will go for the cheaper alternatives which will provide more value for thier money.
Here, the rise in the price of Pepsi caused consumers to shift to a cheaper alternative which is Coke. Other substitute goods that can have the Substitution effect include beef and chicken, butter and margarine etc
7. The local electronics store is offering a promotion "1-year: same as cash," meaning that you can buy a TV now, and wait a year to pay (with no interest). So, if you take home a $1000 TV today, you will owe them $1000 in one year. If your bank is offering 4% interest, what is the true cost of the TV to you today?
Answer:
$961.54
Explanation:
we need to find out the present value of $1,000 in one year:
present value = future value / (1 + interest rate)ⁿ
future value = $1,000interest rate = 4%n = 1present value = $1,000 / (1 + 4%) = $1,000 / 1.04 = $961.54
this is an example of the financial principle of time value of money, i.e. one dollar today is worth more than one dollar tomorrow
Microeconomics and macroeconomics are: Multiple Choice not related because they are taught as separate courses. virtually identical, though one is much more difficult than the other. interrelated because both are taught by the same teacher. interrelated because what happens in the economy as a whole is based on individual decisions.
Answer:
interrelated because what happens in the economy as a whole is based on individual decisions.
Explanation:
Generally, Economics can be classified into two (2) categories, namely;
1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets.
Hence, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.
In conclusion, microeconomics and macroeconomics are interrelated because what happens in the economy as a whole is based on individual decisions.
Which statement about work is not true
Full Question:
Which statement about work is not true:
Employers measure the value of work in terms of employee satisfaction.
The economic value of work is greater than just putting cash in your pocket.
Employers measure the value of work in terms of productivity
Recognizing the value of work in a career will help you choose a career that is right for you.
Answer:
Employers measure the value of work in terms of employee satisfaction.
Explanation:
The value of work generally measured by consumers' satisfaction, not the employees'.
Companies generally see employees as a mean to generate income. Most companies will sacrifice employees' satisfaction as long as it led to an increase in their overall profit.
Currently, work satisfaction itself is not necessarily guaranteed by the Occupational Safety and Health Administration. But we currently start to see a gradual increase in companies who made additional effort to ensure employees' satisfaction (by providing a more friendly work environment, providing professional councils to help alleviate stress, etc)
Describe a decision that you or your company made that involved opportunity costs that should have been considered. Why did your company make the decision
Answer:
Explanation:
My E-Commerce business has two main decision-makers. As a team, we had a budget of $1000 USD which we decided to use on marketing. We ultimately decided on placing banner ads on 2 popular sites that matched our products. Doing this we missed out on other opportunity costs such as adding another product line and marketing sample products to popular influencers. Both of which should have been considered because they could have just as easily brought as many or even more customers than having placed the ads.
Nunavut has no trees but plenty of fisheries and gold mines. Nunavut residents would like to improve their lot and gain access to more goods and services. What could help them accomplish their goal
Answer:
a. specialize in mining and fisheries and engage in trade.
Explanation:
In the case when the Nunavut contains no trees but there are many fisheries and gold mines also they would like to improve in lot and gain access to many goods and services so if you are specialized in mining and fisheries so it could help in achieving the goal via exporting them and also engage in trade and the remaining of the world could import other goods & services
Therefore the option a is correct
Since the people of Nunavut want to gain access to more goods, they should specialize in mining and fisheries and engage in trade to accomplish their goal.
In Nunavut, there are no trees, but there are many fisheries and gold mines which can be utilized for economic purpose.
Hence, the people of Nunavut should specialize in mining and fisheries and engage in trade to accomplish their goal.
Therefore, the Option A is correct.
Read more about Nunavut
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17. Which of the following business challenges involves retaining the talented individuals?
(A) Change and more change
(B) Globalisation
(C) Intellectual capital
(D) Technology
Answer: Intellectual Capital
Explanation:
The value of a company that involves employee knowledge, skills,product development, etc which can provide a company competitive advantage over competitors is called Intellectual Capital and it is divided into
Human capital ----This involves employees, their knowledge, or know how and experience, which is an asset as it provides vital information towards contributing to the capital of the organization. A organization that retains talented employees ie with a lower employee turnover rate, shows its company has a high intellectual capital rate.
Other Intellectual Capital Involves Relational capital--- the relationship of a company withs its employees, customers, partners , stakeholders etc.
and Structural capital---which involves a company's unique process, policies, culture, mission and value statement, work structure etc.
Middle managers usually: Group of answer choices manage the employees on the assembly line set overall goals and objectives act as representatives to other firms carry out plans and policies of top management act as figureheads for the company
Answer:
carry out plans and policies of top management
Explanation:
A downward communication can be defined as the formal flow of information and messages within an organizational hierarchy; which is mainly from a higher level (senior management) of an organization to a lower level (middle management) and lastly, to the least (subordinates).
This ultimately implies that, when downward communication are effectively and properly used in an organization, it helps them to achieve their aims, goals and objectives successfully.
Hence, middle managers usually carry out plans and policies of top management through the use of downward communication.
Generally, middle managers are saddled with the responsibility of carrying out plans and policies that have been formulated or designed by the top (executive) management of a business firm or company. Therefore, middle managers act as an intermediary between the top managers and the lower employees.
Firms are organizations that A) take advantage of the public. B) transform resources into products. C) transform outputs into inputs. D) demand consumer outputs
Answer:
B
Explanation:
A firm is an organisation that is created to make profit. They transform resources into products
They include :
corporations limited liabilitiespartnershipsI know that Stephen has a lot of money. His parents drive Mercedes. His dogs wear cashmere sweaters, and he paid cash for his Hummer. The conclusion of the argument is ____________
Answer: I know that Stephen has a lot of money.
Explanation:
The whole point of the reasoning behind this thought by the speaker was to prove that Stephen had a lot of money.
This is why the speaker explained why they believed that Stephen had a lot of money. They talked about the car his parents drove, the cashmere sweaters his dogs wear and his use of cash to pay for his Hummer all to come to the conclusion that Stephen has a lot of money.
Procurement costs such as costs of placing orders for materials and paying suppliers are usually classified as: Product-level costs. Output-unit-level costs. Vendor costs. Batch-level costs. Facility-level costs
Answer:
Batch-level costs.
Explanation:
The procurement cost is the cost that incurred for placing the orders with respect to the materials and supplier payment and these cost would be classified as a batch level cost as these cost are incurred in the batches
So as per the given situation the batch level cost would be taken into the consideration
And, the other options are incorrect
Which of the following statements regarding uncertainty in liabilities is not correct? Group of answer choices Liabilities can involve uncertainty in whom to pay. A company can have an obligation of a known amount to a known creditor, but not know when it must be paid. A company can only record a liability when it knows whom to pay, when to pay, and how much to pay. A company can be aware of an obligation, but not know how much will be required to settle it.
Answer: A company can only record a liability when it knows whom to pay, when to pay, and how much to pay
Explanation:
A liability is simply defined as the amount that a particular company owes. Liabilities consist of loans, accrued expenses, defered revenue, and accounts payable.
We should note that liabilities can involve uncertainty in whom to pay. Also, a company can have an obligation of a known amount to a known creditor, but not know when it must be paid.
Based on the options given in the question, the answer will be "a company can only record a liability when it knows whom to pay, when to pay, and how much to pay".
Distinguish between a plant, a firm, and an industry. Con- trast a vertically integrated firm, a horizontally integrated firm, and a conglomerate. Cite an example of a horizontally integrated firm from which you have recently made a purchase.
Answer: A plant is a subsection of a firm and a firm is subsection of an industry, an industry is a collection of similar or diverse kind of firms
Explanation:
Plant - is an institution that performs more than one function relating to the production of goods and services
Firm - is an organization that uses diverse resources for the production of goods and services to earn a profit. They operate more than one plant
Industry - is a collection of firms that in into similar or diverse kind of goods and services.
Carlos recognizes that if he visits his aunt on Saturday, he'll miss his brother's football game. The economic principle best embodied by this story is:
Answer: Opportunity cost
Explanation:
The economic principle best embodied by this story is the opportunity cost. Opportunity cost is the cost of what one forgoes when one takes an alternative decision.
In this case, the opportunity cost of him visiting his aunt will be the lost opportunity which he could have used to watch his brother play.
Most professional organizations in the accessory design field are defined by:
ОА.
the region of the United States where the accessories are popular.
OB.
those that work with minerals and those that do not.
C.
how long one has been in the accessory design business.
OD
the type of accessory made.
Answer:
the type of accessory made
Explanation:
Accessories, are hard to hard produce. This difficulties exist in product that relied a lot on its artistic sense to determine their value.
Because of this, a lot of professional organizations in the accessory designed field relied a lot on brand awareness of the consumers to increase the value of their product in the market.
By focusing on one specific type of accessory, a company can associate the name of their brand with that specific type of items. This will create a niche segmentation in the consumers' head that make them remember the company every time they felt that they're seeking for that one specific type of accessory.
Prior to the launch of its financial service, Mint made extensive use of ______ which helped search engines view this business as a credible authority for personal financial topics
Answer:
Blogs
Explanation:
Blogs are information websites that provides relevant information for a target group in a diary style arranged according to date.
The most recent posts appear first in the website.
Mint has used blogs to provide relevant information to users.
Search engines analyse the contents of websites to determine of they are relevant sources of information.
Mint's blogs have help search engines identify the company as a relevant source of personal financial topics
All of the following are weaknesses of the payback period: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply it uses cash flows, not income,unanswered it is easy to use.unanswered it ignores all cash flows after the payback period.unanswered it ignores the time value of money.
Answer:
it ignores all cash flows after the payback period.
it ignores the time value of money.
Explanation:
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows
example of the payback method.
10,000 is invested in a project. The cash flows in year 1 is 10,000. The cash flow in year 2 and 3 is 5000.
The payback period is 1 year because 10,000 is recovered in the first year.
The cash flows in year 2 and 3 are ignored in this calculation.
The payback method using cash flows and not income is an advantage.
The payback method ignores the time value of money but the discounted cash flow method doesn't
In the _____________ stage of a project you are more likely to find status reports, changes, and the creation of forecasts.
Answer:
Executing
Explanation:
The project life cycle shows the cycle from introduction to maturity or decline of the products. It shows the overall journey of the product
In order to determine the status regarding the reports, any changes made and the development of the forecast this would be shown in the stage of execution
So as per the given situation, the executing stage should be considered
one-year forward rate of the British pound is quoted at $1.60, and the spot rate of the British pound is quoted at $1.63. Is the forward
Answer:
the forward discount is 1.84%
Explanation:
The computation is shown below:
As we can see that the spot rate is more than the forward rate so it is a forward discount
So the forward discount is
= (Spot rate - forward rate) ÷ (spot rate)
= ($1.63 - $1.60) ÷ $1.63
= 1.84%
Hence, the forward discount is 1.84%
Who will get the better loan rate from the banker and why
Answer:
d. on t4l
Explanation:
harold pays his bills on time.
Retscan, Inc. has assets of $625,000, liabilities of $385,000, and equity of $240,000. It buys office equipment on credit for $125,000. The effects of this transaction include: Group of answer choices
Answer: a. Assets increase by $125,000 and liabilities increase by $125,000
Explanation:
The Office equipment bought are considered PPE which means they are fixed assets. Their acquisition will increase the assets held by the company by the value of the equipment, $125,000.
The equipment was however, bought on credit. This means that the company still owes the suppliers, payment for it which will see their liabilities increase by the same amount of $125,000.
when investors doubt the creditworthiness of a borrower, what should happen to the price and yield of a bond
Answer:
Prices go down, yield go up
Explanation:
As we know that there is an opposite relationship between the price of the bond and the yield that means if the creditworthiness comes in a doubt so it reduced the price of the bond and at the same time it increased the yield
So as per the given situation as the investor doubt the borrower creditworthiness so the price would fall and yield would go up
hence, the same is to be considered
An employer is concerned that her workplace has only a few African-Americans, Hispanics, and women in upper-level management and skilled labor jobs. Most unskilled-labor and clerical positions are held by women and minorities. The employer decides to institute a program that will increase the numbers of minorities and women in management and skilled-labor positions. Is this permissible
Answer:
This is not permissible
Explanation:
This is not permissible because giving them any forms of special treatments is going to be considered to be discriminatory to other people.
Discrimination on the basis of gender, age, color, religion is illegal in the united states and considered a criminal offense.
So even though management has good intentions they have to consider;
1. If these group of people have the required qualifications
2. If there are openings to accommodate these groups given that they are qualified.
3. Filling up every job with this group is going to be regarded as reverse discrimination.
On December 31, 2020, Patel Company purchased debt securities as trading securities. Pertinent data are as follows: Security Cost Fair Value at 12/31/21 A $132,000 $119,000 B 172,000 186,000 C 288,000 263,000 On December 31, 2021, Patel transferred its investment in security C from trading to available-for-sale because Patel intends to retain security C as a long-term investment. What total amount of gain or loss on its securities should be included in Patel's income statement for the year ended December 31, 2021
Answer:
the loss on the securities that should be included in the income statement is -$24,000
Explanation:
The computation of the total amount or gain or loss that included in the income statement is shown below;
Security Fair value cost Gain or loss
A $119,000 $132,000 ($13,000)
B $186,000 $172,000 $14,000
C $263,000 $288,000 ($25,000)
Net loss ($24,000)
Hence, the loss on the securities that should be included in the income statement is -$24,000
The total amount of loss that will be included in Patel's income statement for the year ended Dec 31st 2021 will be $24000. This loss will be transferred to the P and L accounts of Patel.
Patel has incurred this loss on trading of investments like A, B and C as the differences between the cost of purchase and realizable value is in a deficit of total $24000 after calculations.
Patel Co. standings on investments in A stood as 132000 cost price and realizable value of 119000 which leads to a loss of 13000 on investments realized after sale. So, A equals to (13000)Whereas there is a gain of 14000 on investments in B as the cost of purchase was 172000 and realized value was 186000 after the sale of investments in B. So, B equals 14000.However, investments in C had a variably higher losses as the cost of purchase of C was 288000 and it was realizable at a value of 263000 leading to loss of 25000. So, C equals to (25000).
Hence after adding the values of A+B+C i.e., (-13000)+ 14000 + (-25000) we can conclude that the total loss on sale of securities to be included in Patel Co. will be $24000.
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When using the book value of equity, the debt to equity ratio for Luther in 2009 is closest to: Group of answer choices 0.43 2.29 2.98 3.57
Answer:
2.29%
Explanation:
The computation of the debt to equity ratio using book value of equity is as follows;
As we know that
Debt to Equity Ratio = Debt ÷ Equity
where,
Debt = $239.7 + $10.7 + $39.9
= $2901.1
And, equity is $126.6
Now
Debt to Equity Ratio is
= $290.1 ÷ 126.6
= 2.29%
Businesses that sell services rather than tangible items don't have a line for _____ on their statements.
Answer:
cost of goods sold (COGS)
Explanation:
Generally service businesses do not include cost of goods sold in their income statement. Cost of goods sold (COGS) is calculated when a business sells goods (= ending inventory + purchases - beginning inventory), but when you only sell services, what COGS can you have?
Dairy Days Ice Cream sells ice cream cones for $4 per customer. Variable costs are $3 per cone. Fixed costs are $2,500 per month. What is Dairy Days' contribution margin ratio
Answer:
0.25 or 25 %
Explanation:
Contribution Margin ratio is defined as contribution expressed as a percentage or decimal of the sales revenue.
Where
Contribution = Sales - Variable Cost
= $4 - $3
= $ 1
Therefore,
Contribution Margin ratio = Contribution ÷ Sales
= ($4 - $3) ÷ $3
= 0.25 or 25 %
Which of the following best describes a team? A. Two or more people with a shared commitment and collaboration towards a common goal B. Two or more people with a similar skill set working towards the completion of a predetermined goal C. All employees who report to the same supervisor D. A defined unit within a division or department, within an organization E. Two or more people with a common goal
Answer:
A. Two or more people with a shared commitment and collaboration towards a common goal
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective. This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, workers working as a team usually interact with the other team members and as a result, this enhances performance and strengthen the level of relationship they share.
Hence, the statement which best describes a team is, two or more people with a shared commitment and collaboration towards a common goal.
Additionally, one of the advantages of working as a team is that the team members get to know each other better in the course of brainstorming, interaction and sharing of ideas.
Brainstorming is a creativity and problem-solving technique adopted by individuals or group of people by spontaneously gathering ideas through intensive thinking.