Answer: Category killers
Explanation:
A specialty store as the name implies, is one that specializes in a certain category of goods. They however provide a range of products and brands within that category.
When a specialty store becomes really big and provides a very deep assortment of a particular line of goods along with very knowledgeable staff to help, they become known as Category killers because they would be providing a whole lot of brands and products under the category they operate in.
An example would be BestBuy or Home Depot.
The sources of economic growth are _______. A. work hours growth and labor productivity growth B. democracy and labor productivity growth C. job experience and low inflation D. work hours growth and a stable government
Answer:
A. work hours growth and labor productivity growth
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.
Basically, there are four (4) main types of economy and these are;
I. Mixed economy.
II. Free market economy.
III. Traditional economy.
IV. Command economy.
Generally, the sources of economic growth of a country are work hours growth and labor productivity growth.
Labor (working) is simply the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
A 22-year old college student has been promised a $1 million check at this 50thbirthday (28years from today). What is the present value of the $1 million today assuming an interest rate of 5%
Answer:
$255,093.64
Explanation:
Calculation to determine the present value of $1 million today
Using Financial calculator
PV = PV (rate, nper, pmt, fv, type)
Where,
FV = $1,000,000
Annual Interest rate = 5%
Number of periods = 28
Let plug in the formula
PV = PV (5%, 28, 0, -1000000, 0)
PV= $255093.64
Therefore the Present value of $1 million today is $255,093.64
$ 485,000 $ 432,000 $Enter a dollar amount Enter percentages rounded to 0 decimal places % Inventory $ 786,000 $ 617,000 $Enter a dollar amount Enter percentages rounded to 0 decimal places % Total assets $3,111,000 $2,707,000 $Enter a dollar amount Enter percentages rounded to 0 decimal places %
Answer:
Accounts receivable
Dec 31, 2017 = $485,000
Dec 31, 2016 = $432,000
Amount = $53,000
Percentage = $53,000/$432,000
Percentage = 0.1226852
Percentage = 12%
Inventory
Dec 31, 2017 = $786,000
Dec 31, 2016 = $617,000
Amount = $169,000
Percentage = $169,000 / $617,000
Percentage = 0.2739060
Percentage = 27%
Total assets
Dec 31, 2017 = $3,111,000
Dec 31, 2016 = $2,707,000
Amount = $404,000
Percentage = $404,000/$2,707,000
Percentage = 0.1492427
Percentage = 15%
The Caldwell Herald newspaper reported the following story: Frank Ormsby of Caldwell is the state’s newest millionaire. By choosing the six winning numbers on last week’s state lottery, Mr. Ormsby won the week’s grand prize totaling $1.38 million. The State Lottery Commission indicated that Mr. Ormsby will receive his prize in 20 annual installments of $69,000 each. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: 1. If Mr. Ormsby can invest money at a 11% rate of return, what is the present value of his winnings?
Answer:
the present value of his winning is $549,447
Explanation:
The computation of the present value of his winning is shown below:
= Annual installment × PVIFA factor at 20 years for 11%
= $69,000 × 7.963
= $549,447
Hence, the present value of his winning is $549,447
The same should be considered and relevant
In a sandwich shop, 3 workers are able to make 45 sandwiches in an hour during the lunch rush. When a 4th worker is added, the team is able to make 57 sandwiches. Calculate the marginal product of adding the 4th worker.
Answer:
12
Explanation:
Calculation to determine the marginal product of adding the 4th worker
Using this formula
MP=ΔTPΔL
Let plug in the formula
ΔTP=57−45
ΔTP=12
Therefore The marginal product of adding the 4th worker is 12 sandwiches.
Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 5 years ago for $9,639,708 in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $3,650,288. An engineer was hired to study the land at a cost of $810,081, and her conclusion was that the land can support the new manufacturing facility. The company wants to build its new manufacturing plant on this land; the plant will cost $6,880,840 million to build, and the site requires $529,656 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project?
Answer:
the proper cash flow amount is $11,060,784
Explanation:
The computation of the proper cash flow amount is shown below:
= land value + plant value + grading value
= $3,650,288 + 6,880,840 + $529,656
= $11,060,784
Hence, the proper cash flow amount is $11,060,784
So the same should be considered and relevant
The increase or decrease in owner's equity is reported on the
O A income statement.
B statement of owner's equity.
C balance sheet.
D All of the above
Accounting
Answer:
B
Explanation:
Owners equity also known as the Statement of Changes in Owner's Equity is an example of a financial statement. It records the owners equity and changes to the owners equity during a financial year.
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a point in time.
The income statement records a company's income and expenses in a financial year. It is used for determining if a company is earning a profit or a loss
The March 1 inventory of finished units at the Kay Company is 5,000. During March the company plans to sell 40,000 units and desires a March 31 inventory of 10,000 units. The number of units that the company should plan on producing in March is: A. 60,000 units B. 50,000 units C. 45,000 units D. 40,000 units E. 35,000 units
Answer:
C. 45,000 units
Explanation:
Inventory of finished units at March 31
10,000
Add:
Sales units
40,000
Total units
50,000
Less:
Inventory of finished units March 1
(5,000)
Balance
45,000
Therefore, the number of units that the company should plan on producing in March is 45,000 units
A(n)______ variance occurs when management pays an amount different from the standard price to acquire the item.
Answer:
The answer is "Spending".
Explanation:
A(n) variance in spending happens whenever management spends a quantity other than the standard cost of the products to be acquired.
The difference in expenditure is the gap between the real level as well as the expected amount (or budget) of spending. Overhead costs often include fixed costs, e.g. operating expenses.
Anya owns land with an adjusted basis of $305,000, subject to a mortgage of $175,000. Anya sells her land subject to the mortgage for $325,000 in cash, and a note for $300,000. What is Anya's amount realized on this sale
Answer: $800,000
Explanation:
Alice's realized amount from the sale is a sum of all the amounts that the seller gets it for as well as any mortgages assumed.
Alice therefore realized:
= Mortgage assumed by seller + Cash + Note
= 175,000 + 325,000 + 300,000
= $800,000
Actual indirect materials costs$11,800 $6,700 Actual indirect labor costs 55,600 45,900 Other overhead costs 16,000 49,900 Overhead applied 91,400 96,700 Storm Concert Promotions Determine whether overhead is overapplied or underapplied. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Valle Home Builders Determine whether overhead is overapplied or underapplied. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold.
Answer:
See below
Explanation:
1. Actual costs = $11,800(indirect material + $55,600(indirect labor) + $16,000(other overhead costs) = $83,400(actual cost)
$91,400(overhead applied) - $83,400(actual cost) = Overhead applied is greater than the actual cost which means that overhead was over applied by $8,000
2. Debit: Manufacturing overhead $8,000
______ Credit: Cost of goods sold $8,000
3. Actual costs = $6,700(indirect material) + $45,900(indirect labor) + $49,900(other overhead costs) = $102,500
$96,700(overhead applied) - $102,000(actual costs) = Overhead applied is less than the actual costs which means that overhead was under applied by $5,800
4. Debit : Cost of goods sold $5,800
_______ Credit: Manufacturing overhead $5,800
Reuben Corporation holds assets with a fair value of $150,000 and a book value of $125,000 and liabilities with a book value and fair value of $50,000. What balance will be assigned to the noncontrolling interest in the consolidated balance sheet if Holmes Company pays $90,000 to acquire 75 percent ownership in Reuben and goodwill of $20,000 is reported
Answer:
$30,000
Explanation:
Fair value of equity = Fair value of Assets - Fair value of liabilities
Fair value of equity = $150,000 - $50,000
Fair value of equity = $100,000
Holmes Company pays $75,000 to acquire 75% of Equity
Holmes Company pays $15,000 for 75% of goodwill
Non controlling interest = 25% of Equity + 25% of Goodwill
Non controlling interest = 0.25*($100,000) + 0.25*($20000)
Non controlling interest = $25,000 + $5,000
Non controlling interest = $30,000
Cyclical unemployment arises when:______.
a. the agriculture sector completes the cycle of planting, cultivating, and harvesting the nation's food supply.
b. labor unions strike for higher wages.
c. the business cycle enters an expansionary phase.
d. business activity in the macroeconomy declines.
Answer:
D
Explanation:
types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
The geologist lost his hob permanently due to increase in wages (polices)
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
1- You deposit $200 today, another $200 a year from now, and an additional $400 three years from now. If the interest rate is 5%, what is the value of your investment in 5 years
Answer:
939.36
Explanation:
As the number of people holding college degrees increases, assuming the demand for college educated labor stays constant, the wages of college educated people would
Answer:
decrease
Explanation:
An increase in the supply of people with college degrees would lead to a rightward shift of the supply curve. This leads to a decrease in equilibrium wages and an increase in labour
On January 1, DogMart Company purchased a two-year liability insurance policy for $32400 cash. The purchase was recorded to Prepaid Insurance. How much would be the January 31 amount recorded to expense (use two decimals)?
Answer: $1,350
Explanation:
The insurance is for 2 years but has to be apportioned monthly on account of the Accrual basis in Accounting where expenses will only be recognized when they are incurred.
The expense to be recorded for the first month will therefore be:
= 32,400 / 24 months
= $1,350
The following data for a production department relate to two accounting periods:
Activity(machine-hours)....... 17,000 18,500
Department costs................... $246,500 $251,750
The best estimate of fixed department cost is closest to:________.
Answer:
Fixed costs= $187,000
Explanation:
Giving the following information:
Activity(machine-hours): 17,000 18,500
Department costs: $246,500 $251,750
To calculate the fixed and variable cost, we need to use the high-low method:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (251,750 - 246,500) / (18,500 - 17,000)
Variable cost per unit= $3.5
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 251,750 - (3.5*18,500)
Fixed costs= $187,000
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 246,500 - (3.5*17,000)
Fixed costs= $187,000
How do you think the four management functions of planning, organizing, leading , and controlling fit in with the ideas Sinek expresses in his talk?
Answer:
This posting should be a minimum of one short paragraph and a maximum of two paragraphs. Word totals for this post should be in the 100–200-word range. Whether you agree or disagree, explain why with supporting evidence and concepts from the readings or a related experience. Include a reference, link, or citation when appropriate.
The four functions of management are planning, organizing, leading, and controlling. By applying the right resources and knowledge, all these functions can easily fit in the ideas.
What is Management?More than just specialized knowledge, management requires an ability to navigate numerous procedural, structural, and interpersonal challenges in the process of guiding one's team to the completion of various goals.
What are the four management functions?No matter which company you work in, these four management functions remain consistent and applicable across all sectors.
Planning is important to identify the goals and making plans to attain these goals.Organizing refers to taking up of these plans and putting into action.Leading is the stage of motivating and influencing employees to do the work. Controlling function consists of monitoring performance and progress through project execution and making adjustments as needed.Thus, by using knowledge, team-management, and right resources, all these functions can fit in with the ideas.
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ng 40\%; \$4.400 A company is considering the purchase of a new machine for $ 63,000 . Management predicts that the machine can produce sales of $ 17,500 each year for the next 10 years . Expenses are expected to include direct materials , direct labor , and factory overhead totaling 6,500 per year including depreciation of per year . Income tax expense is per year based on a tax rate of What the payback period for the new machine
Answer:
3 years and 8 months
Explanation:
The payback period is the length of time that it takes for the cashflow of a project to equal the initial investment of the project.
Initial investment = $ 63,000
Cash flow :
Sales $ 17,500
Less Expenses ($6,500)
Add Depreciation ($ 63,000 ÷ 10) $6,300
Annual Cash flow $17,300
thus,
It takes 3 years and 8 months ($11,100/$17,300 x 12) for the cashflow of a project to equal the initial investment for the new machine.
Which are broad categories of action for crafting strategic moves to improve a diversified company's overall performance? (Choose every correct answer.)
Question Completion with Options:
O sticking closely with the existing business lineup and pursuing opportunities that those businesses present.
O Divesting certain businesses and retrenching to a narrower base of business operations.
O Widening the company's business scope by making new acquisitions in new industries.
Answer:
The broad categories of action for crafting strategic moves to improve a diversified company's overall performance are:
O sticking closely with the existing business lineup and pursuing opportunities that those businesses present.
O Divesting certain businesses and retrenching to a narrower base of business operations.
O Widening the company's business scope by making new acquisitions in new industries.
Explanation:
In addition to pursuing existing business opportunities, a diversified company can increase its performance indexes by divesting itself of certain unprofitable lines of business or slow-growth businesses and focusing its resources on cash cows and stars. The pursuit of stars will lead it to make new acquisitions in relatively new industries in order to remain attractive to investors, otherwise, it runs the risk of growing into extinction like the historical dinosaur.
A shortcoming of real gross domestic product (GDP) is it does not include the underground economy. includes nonmarket goods. does not measure changes in employment. does not include the value obtained through purchases of stocks and bonds. does not account for changes in the prices of goods and services.
Answer:
it does not include the underground economy.
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
The financial statement that provides a snapshot view of the financial condition of a business at a point in time is the:
Answer:
balance sheet
Explanation:
Balance sheet can be regarded as financial statement which gives reports of the liabilities, equity of shareholders as well as assets of the company at a specific point in time, It provides a basis that can be used in computing rates of return as well as evaluating its capital structure.
It should be noted that balance sheet is
financial statement that provides a snapshot view of the financial condition of a business at a point in time
When Get the Glare Out needed some information about the potential market for its product, the marketing team looked to the Internet to find industry trends and at the market for eyewear products, which uses the same technology that is used in its self-darkening windshield. The type of information the marketing team was using is referred to as Multiple Choice surveys. focus groups. primary data. secondary data.
Answer:
secondary data.
Explanation:
Market research can be defined as a strategic technique which typically involves the process of identifying, acquiring and analyzing informations about a business. It involves the use of product test, surveys, questionnaire, focus groups, interviews, etc.
Secondary market research can be defined as a method designed to determine the demographics of a particular target market.
A secondary data can be defined as any form of data that has been obtained or collected earlier by someone else through primary sources for their own purpose and made readily available for other researchers to use. Thus, a secondary data is a type of data that has been previously obtained or collected.
In this scenario, the type of information the marketing team was using is referred to as secondary data because it looked to the Internet to find industry trends and at the market for eyewear products, which uses the same technology that is used in manufacturing its self-darkening windshield.
In conclusion, a secondary data is typically reliant or based on the primary source of information and as such it isn't a first hand experience.
The market rate of return is 11 percent and the risk-free rate of return is 3 percent. Lexant stock has 3 percent less systematic risk than the market and has an actual return of 12 percent. This stock:
Answer:
over-priced
Explanation:
According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)
Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates. Investors should seek compensation for systemic risk. Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors
The market has a beta of one. If a portfolio has the same level of systematic risk that is the same as that of the market, its beta would be equal to 1.
If the portfolio is less risky than the market, its beta would be less than one
If the portfolio is more risky than the market, its beta would be greater than one
Lexant stock beta = (100 - 3) x 1
0.97 x 1 = 0.97
3 + 0.97(11 -3)
3 + 8.25
10.76
Which one of the following affects cash during a period?
a. Recording depreciation expense
b. Declaration of a cash dividend
c. Write-off of an uncollectible account receivable
d. Payment of an accounts payable
Answer: d. Payment of an accounts payable
Explanation:
The payment of an accounts payable affects cash because it means that cash was used to pay off the payable in question and therefore the cash that the company holds has now reduced.
In the Statement of Cashflows, this is accounted for under the Operating Activities of the business. A decrease in accounts payable is subtracted from the net income to show that cash has reduced.
Following the law is:______. a. unimportant as a standard of business behavior b. the maximum standard of behavior we expect from business c. an unrealistic expectation for business behavior d. the minimum standard of behavior we expect from business
Answer:
b. the maximum standard of behavior we expect from business
Explanation:
In the laws of business, it is expected according to the law that as much possible, we accept the maximum standard of behavior from any businesses. While doing a business, we all have to follow the business ethics and always follows the laws of the businesses. The behavior of business should be of maximum standard and should comply with the rules and ethics with the related businesses.
Thus the correct option is (b).
A local electricity-generating company has a monopoly that is protected by an entry barrier that takes the form of A) control of a key raw material.
Answer:
economies of scale
Explanation:
Here are the options
control of a key raw material
a perfectly inelastic demand curve
legal monopoly
economies of scale
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region
Characteristics of natural monopolies
1. they have a large fixed cost
2. The firms have a low marginal cost
3. They occur naturally through the free market. It does not occur by government regulation or any other force
For local electricity-generating companies, as output increases, cost per unit falls. This is known as economies of scale
If a company sells its smart phones for $400 and the phones have a COGS of $250, how many additional phones would the company have to sell if it decided to spend an extra $150,000 on advertising to promote the phones
Answer:
Units to be sold= 1,000
Explanation:
Giving the following information:
Selling price= $400
COGS= $250
Increase in costs= $150,000
To calculate the number of units to be sold to cover the incremental costs, we need to use the following formula:
Units to be sold= increase in costs/ contribution margin per unit
Units to be sold= 150,000 / (400 - 250)
Units to be sold= 1,000
Eileen transfers property worth $200,000 (basis of $190,000) to Goldfinch Corporation. In return, she receives 80% of the stock in Goldfinch Corporation (fair market value of $180,000) and a long-term note (fair market value of $20,000) executed by Goldfinch and made payable to Eileen. Eileen recognizes gain on the transfer of:______.a. $0.b. $10,000.c. $20,000.d. $190,000.e. None of the above.
Answer:
b. $10,000
Explanation:
Calculation to determine Eileen recognizes gain on the transfer
Recognized gain=Basis -Fair market value
Recognized gain=$190,000 -$180,000
Recognized gain=$10,000 gain
Therefore Eileen recognizes gain on the transfer of:$10,000
Highest and best use would best be defined as:
Answer:
The reasonable, probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value.
Explanation: