$343 is their net income 2020 2020. Net revenue is the amount of accounting profit left over after all expenses have been paid.
What are net income and gross income?Employees earn their gross pay before taxes, benefits, and other payroll deductions are deducted from their pay. Net pay, also known as take-home pay, is the amount left over after all withholdings have been deducted.
Given
Sales =$3990
COGS = $2137
Depreciation = $1018
Interest = $267
Dividend = $225
Required to Calculate Net Income for the period 2020 =?
Net Income = 3990 - 1018 - 267 - 225 - 2137 = $343
Net income is the amount of money left over after taxes and deductions have been deducted from your paycheck. Net income is the money left over after paying operating costs, administrative costs, cost of goods sold, taxes, insurance, and any other business expenses.
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jerry owns steps corp., a shoe manufacturing company, whereas jacob owns brink corp., a leather goods manufacturing company. both enter into a business partnership. after a few months, jerry accuses jacob of swindling money. they approach an arbitrator to resolve the issue. the decision is made in favor of jacob. however, jerry feels that justice has not been meted out. he decides to seek a de novo review so that he can ______.
The franchise model type illustrated by this example is a D. trademark franchise. In the business model, franchising. franchise using a name
A franchise can be defined as a license that entails a legal agreement between two parent companies and permits individuals or organizations access to their know-how, business practices, and trademarks in order to offer goods and services to customers. Franchise business models. There are various franchise models used in business management, including the following: Franchise in management. Industrial franchise. Franchise in the business model. franchise with a brand. A trademark franchise is a particular kind of franchise model that entails a legal agreement between a parent firm and another, allowing the latter to utilize the parent company's trademarks and emblems.
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To reduce the risk of overuse or traumatic injuries, you should do all of the following EXCEPT __________.
a. avoid working out in extremes of heat and cold
b. use appropriate protective gear
c. attempt to work through the pain.
d. buy and use the proper footwear
The following options that can not be used to reduce the risk of overuse or traumatic injuries is C. attempt to work through the pain.
In the term of health, Traumatic injuries generally can be defined as a condition where the result of a wide variety of blunt, penetrating and burn mechanisms. Traumatic injuries can occur by several accidents, such as motor vehicle collisions, sports injuries, falls, natural disasters. In the other side, traumatic injuries also can occur by a multitude of other physical injuries which can occur at home, on the street, or while at work and require immediate care.
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tamara is leading the strategic groups through an exercise to define the company's mission and goals through a swot (strengths, weaknesses, opportunities, and threats) analysis. she is employing
Tamara is employing strategic management techniques to define the company's mission and goals through a SWOT analysis.
What is strategic management?Strategic management is the process of formulating and implementing the major goals and initiatives of an organization. A SWOT analysis is a tool used in strategic management to assess the internal strengths and weaknesses, as well as the external opportunities and threats, of an organization.
By using a SWOT analysis, Tamara and her team can identify the key strategic issues that the company faces and develop strategies to address them. This can help ensure that the company is focused on achieving its goals and is well-positioned to respond to changes in the business environment.
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you were not a missouri resident, you did not have any missouri income, and you are not subject to any type of missouri income tax
You were not a Missouri resident, you did not have any Missouri income, and you are not subject to any type of Missouri income tax. Therefore, you do not need to file a Missouri income tax return.
Missouri personal income tax returns are filed with the Missouri Department of Revenue. Taxpayers can file their returns online, by mail, or in-person. Personal income tax returns are due April 15 of each year, or the next business day if April 15 falls on a weekend or holiday.
The state of Missouri offers a variety of tax credits and deductions that can help taxpayers save money. Taxpayers may be eligible for a tax credit for child and dependent care expenses, a deduction for contributions to a 529 college savings plan, or other deductions.
For more information on Missouri income tax returns, visit the Missouri Department of Revenue website or call their customer service line at 800-877-6881.
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Consider a student whose final grade increases with the number of hours spent studying. Her choice is between more free time and higher grades, both of which are 'goods'. Which of the following is not the same as her marginal rate of transformation between the two goods?
The number of percentage points the student is willing to give up for another hour of free time.
The opportunity cost of free time in Option B is the same as the marginal rate of transformation between free time and better marks for the student.
The opportunity cost of free time in Option B is the same as the marginal rate of transformation between free time and better marks for the student. Opportunity cost is the price of rejecting the next best option while making a choice. The percentage points the student could have improved their final grade by if they had studied instead are the opportunity cost of using an hour of free time in this scenario. This is the same as the marginal rate of transformation, which calculates how quickly one good must be sacrificed in order to create an extra unit of a different good while keeping the overall utility constant.
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fill in the blank. suppose the terrific taffy company ran a very successful advertising campaign. economic analysis would suggest that the campaign would cause the equilibrium price to__and the equilibrium quantity to__.
the correct answer to the question above is rise and rise.
If a company ran a very successful advertising campaign it would make the price rise and quantity rise. Because the advertising campaign is successful, it would make people want to buy the products or use the services so which would make the equilibrium price increase and the equilibrium quantity increase too. Advertising make people aware of the brand or products and if it was success it will lead them to buy or use the company products or services.Learn more about advertising impact at: https://brainly.com/question/14100421
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Which of the following is a primary user of accounting information with a directfinancial interest in the business?a. Taxing authorityb. Creditorc. Regulatory agencyd. Labor union
B) The creditor, who has a direct financial interest in the company, is the main user of accounting data.
A person or entity that gives credit to a business is known as a creditor. These organisations have a direct financial stake in the business since they anticipate receiving interest-bearing payments over time. Accounting data is used by creditors to evaluate a company's financial standing and creditworthiness, set the terms of a loan or credit arrangement, and keep track of the company's financial performance to ensure prompt repayment. In conclusion, creditors are a significant shareholder in a company's financial health and need precise and trustworthy accounting data to make wise decisions about lending or extending credit.
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It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only if all the firms being compared have the same proportion of fixed assets to total assets."" If you are not agreed with this statement give justification in two sentences
False. Only if all the firms being compared have the same ratio of fixed assets to total assets is it fair to utilize the fixed assets turnover ratio to evaluate firms' effectiveness in managing their fixed assets.
Is it proper to assess a firm's effectiveness using its fixed asset turnover ratio?If and only if all the companies being compared have the same ratio of fixed assets to total assets, the fixed assets turnover ratio can be used to evaluate how effectively a firm is managing its fixed assets. The more debt a company uses, other things being equal, the lower its profit margin will be.
What purposes does the fixed asset turnover ratio serve?If a corporation is effectively employing its fixed assets to generate net sales, it can be determined using the fixed asset turnover ratio. By dividing net sales by the average fixed asset balance for the given period, the fixed asset turnover ratio is determined. False. Only if all the firms being compared have the same ratio of fixed assets to total assets is it fair to utilize the fixed assets turnover ratio to evaluate firms' effectiveness in managing their fixed assets.
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In describing sales successes, it would NOT be advantageous to point out that:
a. Your firm sells 50% of its listings.
b. Your average sale is at 94.5% percent of list price while the average for your MLS is 87.3%
c. The average time from listing to sale for your firm is 42 days less than the average sale in your MLS
d. Listings with your firm have a 30% greater chance of being sold than the average for your local MLS.
This is due to the fact that the success of sales is not always indicated by the percentage of sold listings. It may be taken negatively, implying that the company has trouble selling the other 50% of its listings. However
The number of units sold, the amount of money made, the level of customer happiness, and the increase in market share can all be used to gauge the success of a sale. A good sales strategy should place equal emphasis on establishing long-term connections with clients as it does on attaining short-term objectives. Effective planning, excellent communication, and ongoing improvement are essential for sales success. Along with having a deep grasp of the goods or services being offered, it also calls for a comprehension of the wants and preferences of the consumer. Sales teams may find areas for improvement and modify their strategy by measuring sales success through data analysis and monitoring key performance indicators. Overall, achieving sales success is a dynamic process that calls for a dedication to quality and a readiness
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question mode multiple choice question walmart has retail stores in china, and staples has retail stores in australia. these are examples of u.s. companies: multiple choice question. engaged in the global market who failed in the united states forced to move to other markets leaving the united states because of poor sales that are based in other countries
Option (A) is the correct option
which is "Engaged in the global market" is the correct option.
Walmart and Staples are both examples of U.S. companies that have expanded their operations into other countries, indicating that they are engaged in the global market. The other options listed do not accurately describe the situation for these companies.
Expanding operations into other countries typically involves a company entering a foreign market by establishing a presence in that country through various means such as opening a branch or subsidiary, forming a joint venture with a local partner, acquiring a local company, or licensing its products or services to a local partner. The goal of expanding into foreign markets is often to increase sales, gain access to new customers and resources, reduce costs, or diversify the company's revenue streams. However, expanding into foreign markets also involves navigating complex legal, regulatory, cultural, and economic environments, and requires a deep understanding of the local business landscape.
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Jordon James started JJJ Consulting on January 1. The following are the account balances at the end of the first month of business, before adjusting entries were recorded :Accounts Payable $300Accounts Receivable $750Cash $6,300Consulting Revenue $4,925Equipment $7,000Jordon James, Capital $15,000Jordon James, Drawing $1,375Prepaid Rent $4,000Supplies $800Adjustment data:Supplies on hand at the end of the month: $200Unbilled consulting revenue: $700Rent expense for the month: $1,000Depreciation on equipment: $90(a) Prepare the required adjusting entries, adding accounts as needed. (Refer to the Chart of Accounts for exact wording of account titles.)(b) Prepare an adjusted trial balance for JJJ Consulting as of January 31.
(a) The entries are as follow : Supplies Expense: $600
Supplies: $600
Accounts Receivable: $700
Unearned Consulting Revenue: $700
Rent Expense: $1,000
Prepaid Rent: $1,000
Depreciation Expense - Equipment: $90
Accumulated Depreciation - Equipment: $90
(b) Adjusted trial balance for JJJ Consulting as of January 31:
Account Debit Credit
Cash $6,300
Accounts Receivable $750
Supplies $200
Prepaid Rent $3,000
Equipment $7,000
Accumulated Depreciation $90
Accounts Payable $300
Unearned Consulting Rev. $700
Jordan James, Capital $15,000
Jordan James, Drawing $1,375
Consulting Revenue $4,925
Supplies Expense $600
Rent Expense $1,000
Depreciation Expense $90
Total $34,315 $6,015
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If a country experiences an increase in interest rates relative to U.S. interest rates, the inflow of U.S. funds to purchase its securities should ____, the outflow of its funds to purchase U.S. securities should ____, and there is ____ pressure on its currency's equilibrium value. A. increase; decrease; downward B. increase; decrease; upward C. decrease; increase; downward D. increase; increase; upward
Assume that the interest rate offered on pounds is 5 percent and the pound is expected to depreciate by 1.5 percent against the home currency. For the international Fisher effect (IFE) to hold between the United Kingdom and the home country, the home interest rate should be ____.
A. 3.43 percent
B. 5.68 percent
C. 6.50 percent
D. 7.30 percent
If a natiοn's interest rates rise relative tο U.S. interest rates, U.S. mοney shοuld flοw intο that natiοn tο buy its securities mοre frequently, while leaving tο buy U.S. assets less frequently. This will put upward pressure οn the equilibrium value οf that natiοn's currency.
What οccurs when interest rates rise relative tο οther cοuntries?Generally speaking, a cοuntry's currency will appreciate at higher interest rates. Higher interest rates frequently draw fοreign investment, which raises bοth demand fοr and the value οf the currency οf the hοst natiοn.
Why the US-UK exchange rate change if US interest rates rοse tο UK interest rates?An ecοnοmy with higher interest rates prοvides lenders with a larger return cοmpared tο οther natiοns. As a result, higher interest rates draw in fοreign investment and drive up the value οf the currency.
Suppοse that the interest rate οn pοunds is 5% and that there is a 1.5% prοjected decline in the value οf the pοund relative tο the lοcal currency. The hοme interest rate must be 3.43 percent in οrder fοr the internatiοnal Fisher effect (IFE) between the UK and the hοme cοuntry tο hοld.
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strayer discussion the product and the celebrity endorsing it how the endorsement influenced your decision to buy the product
The results show that a celebrity endorser's influence on consumers' perceptions of quality, purchase intentions, and brand loyalty is positive when they have traits like attractiveness, trustworthiness, and familiarity. By using a celebrity as an endorser, marketers are able to pique.
The interest of their target audience by presenting them with a very admirable and well-known face. This strategy is successful in generating demand because it also boosts influence recall, which has a positive effect on consumers' purchasing decisions. One of the most well-known marketing strategies in the cosmetics industry is celebrity endorsement. Building a distinctive identity for the brand is regarded as a successful tactic.
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Whether you want to obtain a credit card, invest in a home, apply for a car loan, or open a bank account, you should shop around before making your choice. A. True B. False
You should shop around before deciding whether to get a credit card, make an investment in real estate, apply for a car loan, or create a bank account. This statement is True.
Your life can be made easier by getting a credit card, making a house investment, applying for a car loan, or opening a bank account, but the cost can often be depressing. The cost might also influence your decision, but you can shop around to find a better deal for the item you want thanks to the variety of places you can buy things, such as online or at consignment shops.
Think about the characteristics that are important to you, then shop around to find the greatest product for the money. Yes, there is a tonne of information accessible to guide you in making the best decision possible.
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Which of the following are advantages of knowing a second language while working
The knowledge of a second language would help to raise your problem solving skills.
Which of the following are advantages of knowing a second language while workingKnowing a second language can offer several advantages while working, including:
Enhanced communication: Being bilingual or multilingual can help individuals to communicate more effectively with colleagues, clients, and customers who speak different languages. This can lead to better collaboration, increased trust, and improved relationships.
Increased job opportunities: In some industries, being able to speak a second language is a valuable skill that can increase an individual's job prospects. Employers may favor bilingual candidates over monolingual ones, especially if they have business relationships with companies in other countries.
Cultural understanding: Knowing a second language can also provide individuals with a deeper understanding of other cultures, customs, and business practices. This can help to facilitate business negotiations, avoid misunderstandings, and build rapport with clients or colleagues from different backgrounds.
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What short-run effect might a decline in the demand for electronic components for automatic teller machines have on Computech's average total cost curve 11 rot m thematically minded students, what is the
A decline in the demand for electronic components for automatic teller machines would likely increase Computech's average total cost curve in the short run.
This is because Computech's production level would decrease, causing the fixed costs to be spread over a smaller output, leading to higher average total costs. Additionally, if the decline in demand causes Computech to operate below its minimum efficient scale, it could also increase average total costs due to diseconomies of scale.
The proper question is "What short-run effect might a decline in the demand for electronic components for automatic teller machines have on Computech's average total cost curve ?"
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Refer to Exhibit 4.1. What is the firm's dividends per share? Do not round your intermediate calculations.
a. $0.98 b. $0.78 c. $0.91 d. $0.89 e. $0.99
The company pays $0.98 in dividends per share, as shown in Exhibit 4.1. Therefore, choice (A) is the best one.
What is meant by Dividend ?A corporation may pay its shareholders a dividend when it distributes its profits to them. A corporation is able to distribute some of its profits as dividends to its shareholders when it makes a profit or has excess cash. Any unused funds are retained and reinvested back into the company (called retained earnings).
Both the profit from the current year and the retained earnings from prior years are available for distribution; a corporation is typically not allowed to pay a dividend out of its capital. Distribution to shareholders can take the form of cash (often a deposit into a bank account) or,
if the company has a dividend reinvestment plan, the amount can be paid by the issuance of more shares or by share repurchase. When circumstances permit, the distribution may
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If an asset account such as equipment has a normal debit balance, the associated contra-account should have a normal ______ balance.
A contra-account ought to have a regular credit balance if an asset account, such as one for equipment, has a reasonable debit balance.
A credit balance is what?An amount which the card issuer owes you can be seen as a credit line on your billing statement. With each payment you make, credits were added to your bank account. If you return anything you purchased with a credit card, a credit might well be added. Accounts for liabilities, include Deferred Income Taxes, Wages Payable, Debt Payable, Taxes Payable, and Payable on Notes. As a result, a credit line in Accounts Payable represents the sum owing to suppliers.
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the most recent settlement bond futures price is 103.5. which of the following four bonds is cheapest to deliver?
To determine which of the four bonds is the cheapest to deliver, we need to compare the futures price to the invoice price for each bond. The cheapest bond to deliver is the one with the highest invoice price relative to the futures price.
Unfortunately, the question doesn't provide information about the specific bonds in question, so I cannot determine the cheapest bond to deliver. If you can provide more information, such as the specific bonds and their invoice prices, I would be happy to help you determine the answer.
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What is Benefits of Using Custom rigid box for Your Business?
The benefits of using custom rigid box for your business custom rigid boxes provide improved protection for retail goods, provide extra room for printed branding and design elements and are strong.
What is branding?
To make a product or company more recognizable, branding entails associating it with a specific name, symbol, or characteristics and concepts.
Branding lends individuality to your company. Customers also stick with a company if they identify with its personality. Your brand may be respectable, opulent, impassioned, tasty, enjoyable, inventive, considerate, competent, or secure.
Your target market and the positioning you want for your company in the industry will determine everything. Differentiating one company from another through a name, emblem design, narrative, messaging, and other means is called branding.
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which of the following departments has the primary responsibility for managing the advertising process
The concept is Advertising, a marketing tactic to pay for space to promote a product, service or cause. This is variant C.
Advertising is a marketing tactic that involves paying for space to promote a product, service, or cause. Actual advertising messages are called advertising or advertising for short.
The purpose of advertising is to reach the people who are most willing to pay for a company's product or service and to encourage them to buy it.
-Advertising aims to educate consumers about their product and convince customers that the company's services or products are the best, improve the company's image, attract attention and create demand for products or services, present new uses for recognized products, in order to promote new products and programs
Question:
Which of the following departments is primarily responsible for managing the ad process?
A) Invoicing office
b) Tourist Office
c) Marketing Services
D) Art Studio
E) Manufacture of prints
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vertical integration is a good strategic option for a manufacturing company when its facilities are obsolete it needs one input material in large volumes it uses distributed processing it makes many different products it needs several different parts and subassemblies
By directly managing several phases of the production process rather than relying on external suppliers or contractors, vertical integration is a strategy that helps businesses streamline operations.
Vertical integration is the practise of one business managing all aspects of its operations, including raw materials, transportation, manufacturing, and production. True. Social Darwinism holds that the government should work to aid the underprivileged and create an activist state to control the country's corporations.
Vertical integration entails buying out or expanding one or more critical components of a business's production or supply chain. Vertical integration is demonstrated by Netflix, which switched from licensoring programmes and films from large studios to creating its own unique content.
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ERP systems are modular, with each module handling a standard business process. This modular design allows businesses to add or delete modules as needed. Which of the following are typical ERP modules mentioned in the text? (Check all that apply.)
-Project management—costing, billing, time and expense, performance units, and activity management.
-system tools-tools for establishing master file data, specifying flow of information, and access controls.
-Order to cash—sales order entry, shipping, inventory, cash receipts, and commission calculation
-Financial—general ledger, budgeting, cash management, and preparation of managerial reports and financial statements
Project management—costing, billing, time and expense, performance units, and activity management are typical ERP modules mentioned in the text. The majority of ERP software implementations accomplish seamless integration in full.
Applications for manufacturing, materials, resource planning, general ledger, human resources, procurement, and order entry are all included in ERP software packages. An ERP software's production management module is used to plan and specify the production steps that must be taken to turn raw materials into finished products.
Enterprise resource planning is referred to as ERP. It is business process management software that oversees and coordinates a company's operations, manufacturing, reporting, and human resource functions.
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identify the formula used to calculate production order quantity in terms of d,co, ci, u, d, and p, where d is the annual demand, co is the setup cost, u is the unit cost, ci is the inventory carrying cost percentage, d is the daily rate of customer demand, and p is the daily rate of production..
This formula used to get the manufacturing order quantity is terms of d, co, ci, u, and d is Qp = Sqrt(2DCo/CiU1-d/p.
What do mean by cost?
The cost represents the value of money that was spent to produce an item or render a service and is now unavailable for use in accounting for manufacturing, research, retail, etc. While estimating the acquisition cost, the sum of the acquisition's costs is included in the calculation.
What is cost in simple words?
Cost is the amount of cash spent by a business to produce or create goods or services. It excludes the profit margin markup. Cost, in the eyes of the seller, is the sum of money.
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(True/False) Kathy and Tom are filing for divorce. Their marital home, which they still live in, is worth $7.5 million and their furniture and other assets are worth more than $25 million. Kathy wants half of everything, but Tom doesn't think she deserves more than 25 percent. They may file in federal court to have their dispute adjudicated.
False, first, the divorce case must be brought before the family court. then before the Honorable High Court, then the Honorable Supreme Court.
Where are divorce proceedings actually initiated?The divorce petition may be filed either in the family court located where the marriage really occurred, or in the family court located where you last remained as a married couple after getting married, depending on where you last resided as a married pair after getting married.
Divorce can be authorized by Family Court.Divorce is only permitted for legitimate causes. Family Courts Act of 1984 became a statute on September 14, 1984. With the intention of promoting peaceful resolution of marital and family conflicts, it established family courts and established guidelines for their administration.
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HCA Healthcare has a current stock price of $36, an expected constant growth rate of 5%, and its last dividend (DO) was $2.40. In view of HCA’s strong financial position, its required rate of return is 12 percent. If HCA’s dividends are expected to grow at a constant rate in the future, what is the firm’s expected stock price in 5 years?
Answer:
the expected stock price of HCA Healthcare in 5 years is $36.17.
Explanation:
We can use the Gordon Growth Model to calculate the expected stock price in 5 years:
Expected Stock Price = (Next Dividend / (Required Rate of Return - Growth Rate))
First, we need to calculate the next dividend. We can use the constant growth rate and the last dividend to do this:
Next Dividend = Last Dividend * (1 + Growth Rate) = $2.40 * (1 + 0.05) = $2.52
Now we can plug in the values and solve for the expected stock price in 5 years:
Expected Stock Price = ($2.52 / (0.12 - 0.05)) * (1 + 0.05)^5
Expected Stock Price = ($2.52 / 0.07) * 1.2763
Expected Stock Price = $36.17
Therefore, the expected stock price of HCA Healthcare in 5 years is $36.17.
consider the market for video streaming services, tv screens, and movie tickets. for each pair, identify whether they are complements or substitutes: pairs of goods and services complements substitutes video streaming services and tv screens video streaming services and movie tickets tv screens and movie tickets suppose a technological advance reduces the cost of manufacturing tv screens. show the effect of this change on the market for tv screens. demand supply price of tv screens quantity of tv screens demand supply next, show the effect the previous change in the market for tv screens has on the market for video streaming services. demand supply price of video streaming services quantity of video streaming services demand supply finally, show the effect the previous change in the market for tv screens has on the market for movie tickets. demand supply price of movie tickets quantity of movie tickets demand supply continue without saving
Note that:
Video streaming services and tv screens - complementsVideo streaming services and movie tickets - substitutesTv screens and movie tickets - substitutesWhat is the rationale for the above response?When the cost of manufacturing TV screens decreases, the supply of TV screens increases. This results in a rightward shift of the supply curve. As a result, the equilibrium price of TV screens decreases, and the equilibrium quantity of TV screens increases.
The decrease in the price of TV screens leads to an increase in the demand for TV screens. This, in turn, leads to an increase in the demand for complementary goods, such as video streaming services. As a result, the demand for video streaming services increases, leading to a rightward shift of the demand curve. The equilibrium price of video streaming services increases, and the equilibrium quantity of video streaming services increases as well.
The decrease in the price of TV screens also leads to an increase in the demand for substitutes, such as movie tickets. As a result, the demand for movie tickets decreases, leading to a leftward shift of the demand curve. The equilibrium price of movie tickets decreases, and the equilibrium quantity of movie tickets decreases as well.
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fill in the blank. chyaru and her managers are discussing the unemployment, inflation, and interest-rate trends that might affect their chain of coffee shops over the next 12 months. the managers are studying the___forces in their organization's general environment.
The Phillips curve is named after economist A.W. Phillips, who examined U.K. unemployment and wages from 1861-1957. Phillips found an inverse relationship between the degree of unemployment and the price of exchange in wages (i.e., wage inflation). Phillips, A.W.
Which of the following is a right description of inflation?Answer and Explanation: The right alternative is f. A frequent and ongoing upward jab in the average stage of fees in an economy. Inflation is the upward push in the usual charge levels in an economy.
The leftward shift in the mixture furnish curve will motive an expand in unemployment and inflation at the equal time.
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https://brainly.com/question/21586910#SPJ1T/F: Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. False. Any company claiming compliance with GAAP must comply with all standards and interpretations, including disclosure requirements.
The statement given in the question is True.
If a company claims compliance with Generally Accepted Accounting Principles (GAAP), it is required to follow all relevant standards and interpretations, including the required disclosures.
Yes, that is correct. If a company claims compliance with Generally Accepted Accounting Principles (GAAP), it is required to follow all relevant standards and interpretations, including the required disclosures. This is because the purpose of GAAP is to provide a standard set of accounting principles and guidelines that ensure that financial reporting is consistent, transparent, and accurate. By requiring compliance with all relevant standards and disclosures, GAAP helps to ensure that financial statements provide relevant and reliable information to stakeholders.
GAAP stands for Generally Accepted Accounting Principles. It is a set of accounting standards, guidelines, and principles used by companies to prepare and present their financial statements in a consistent and comparable manner. The goal of GAAP is to ensure that financial statements are accurate, reliable, and useful to investors, creditors, and other users of financial information. The Financial Accounting Standards Board (FASB) is the organization responsible for developing and updating GAAP in the United States.
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What factors must be taken into consideration during the selection process of an arbitrator?
- the number of arbitrators to be chosen
- the expertise of the arbitrator
The factors that must be taken into consideration during the selection process of an arbitrator are: the number of arbitrators to be chosen and the expertise of the arbitrator.
A dispute is resolved by an arbitrator, a neutral third party, based on the evidence presented by the parties. The arbitrator's ruling may or may not be enforceable in court, but if it is, neither party may later bring a lawsuit to challenge the outcome.
The arbitrators listen to the arguments of the disputing parties and use that information to come to a just conclusion that is advantageous to all parties. Because it is faster, safer, less expensive, and gives the parties more privacy, arbitration is typically chosen over litigation.
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