Because companies make major efforts to predict trends to decide how to invest in their business, macroeconomics takes into account expectations about the future.
Macroeconomics is the study of how an entire economy—markets, corporations, consumers, and governments—behaves. Macroeconomics studies economic phenomena such as inflation, price levels, economic growth rate, national income, GDP, and variations in unemployment.
Macroeconomics addresses several key problems, including: What causes unemployment? What is the source of inflation? What causes or promotes economic growth? Macroeconomics seeks to quantify an economy's performance, understand what forces drive it, and forecast how performance can improve.
Macroeconomics, as the name implies, is an area of study that examines an economy through a broad lens. This includes factors such as unemployment, GDP, and inflation. Furthermore, macroeconomists create models that explain the correlations between these variables.
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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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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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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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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.
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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Match the management function with its description.PlanningOrganizingLeadingControllingPlanning - Setting goals and deciding how to achieve themOrganizing - Arranging people, tasks, and resources to accomplish workLeading - Motivating people to achieve organizational goalsControlling - Monitoring performance, comparing it with goals, and taking corrective action as needed
We perform the management functions with their description:
A) Planning - Setting objectives and deciding how to achieve them B) Organization - Organizing people, tasks, and resources to get the job done C) Leadership - Motivating people to achieve the organization's objectives D) Controlling - Monitor performance, compare it with objectives and take corrective action as necessary.Management functions are the activities and tasks that a manager performs in order to achieve organizational goals. The five functions of management include planning, organizing, leading, controlling, and staffing.
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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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Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.):
Stated Rate (APR) Number of Times Compounded Effective Rate (EAR)
% Semiannually 11.9 %
Monthly 12.8 Weekly 10.5 Infinite 14.2
The stated rate, or APR, is a way to express the interest rate on a loan or investment in a standardized manner. It represents the annual interest rate charged for borrowing or earned on an investment, taking into account the frequency of compounding.
The stated rate, or APR, in each of the following cases can be calculated as follows:
Stated Rate (APR) compounded semi-annually with an effective rate of 11.9%:
The formula to find the APR with semi-annual compounding is:
APR = (1 + EAR/2)^2 - 1
Where EAR is the effective annual rate.
Plugging in the numbers, we get:
[tex]APR = (1 + 0.119/2)^2 - 1 = 11.9%[/tex]
So the stated rate is 11.9%.
Stated Rate (APR) compounded monthly with an effective rate of 12.8%:
The formula to find the APR with monthly compounding is:
APR = (1 + EAR/12)^12 - 1
Where EAR is the effective annual rate.
Plugging in the numbers, we get:
[tex]APR = (1 + 0.128/12)^12 - 1 = 12.8%[/tex]
So the stated rate is 12.8%.
Stated Rate (APR) compounded weekly with an effective rate of 10.5%:
The formula to find the APR with weekly compounding is:
[tex]APR = (1 + EAR/52)^52 - 1[/tex]
Where EAR is the effective annual rate.
Plugging in the numbers, we get:
[tex]APR = (1 + 0.105/52)^52 - 1 = 10.5%[/tex]
So the stated rate is 10.5%.
Stated Rate (APR) compounded infinitely with an effective rate of 14.2%:
The formula to find the APR with infinite compounding is:
APR = EAR / (1 - ([tex]1/e^EAR)[/tex])
Where "e" is the mathematical constant approximately equal to 2.71828.
Plugging in the numbers, we get:
[tex]APR = 0.142 / (1 - (1/e^0.142)) = 14.2%[/tex]
So the stated rate is 14.2%.
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the globalization of markets and production implies that multiple choice question. there is a decrease in cross-border trade. firms are limiting their production activities to their local regions. domestic firms are facing intense competition from foreign firms. there is a decrease in interdependency between nations.
The ability to create and/or sell goods and/or services in international tender with others on global markets is referred to as globalisation.
Which 4 trading markets are there?The sharemarket, foreign currency market, and trading volume are just a few of the markets where investors can transact. Anyone with a basic internet connection can access many markets. The low entry barriers and availability of exchange-traded funds on the FX market make it a popular choice for day traders.
Which market is the future?A Futures Market: What Is It? A futures contract is a bidding market where participants trade futures and commodities transactions for delivery on predetermined dates in the future. Futures are exchange-traded swaps contracts that guarantee the delivery of a good or asset at a price established today, regardless of when it is delivered.
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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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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 following transactions relate to Academy Towing Service. Assume the transactions for the purchase of the wrecker and any capital improvements occur on January 1 of each year. Year 1 Acquired $70,000 cash from the issue of common stock. Purchased a used wrecker for $32,000. It has an estimated useful life of three years and a $5,000 salvage value. Paid sales tax on the wrecker of $3,000. Collected $56,100 in towing fees. Paid $12,000 for gasoline and oil. Recorded straight-line depreciation on the wrecker for Year 1. Closed the revenue and expense accounts to Retained Earnings at the end of Year 1. Year 2 Paid for a tune-up for the wrecker’s engine, $900. Bought four new tires, $1,250. Collected $62,000 in towing fees. Paid $18,000 for gasoline and oil. Recorded straight-line depreciation for Year 2. Closed the revenue and expense accounts to Retained Earnings at the end of Year 2. Year 3 Paid to overhaul the wrecker’s engine, $4,800, which extended the life of the wrecker to a total of four years. The salvage value did not change. Paid for gasoline and oil, $19,100. Collected $65,000 in towing fees. Recorded straight-line depreciation for Year 3. Closed the revenue and expense accounts at the end of Year 3
All the transactions relate to Academy Towing Service for the Year 1 are recorded in general journal form.
What is a general journal?A general journal is a daybook or subsidiary journal that records transactions such as adjustment entries, opening stock, depreciation, accounting errors, and so on. Journal vouchers, copies of management reports, and invoices are examples of source documents for general journal entries.
The entries for Year 1:
1. Debit Cash $70,000
Credit Common Stock $70,000
(To record the issue of common stock)
2. Debit Equipment- wrecker $32,000
Credit Cash $32,000
(To record the purchase of wrecker for cash)
3. Debit Equipment- wrecker $3,000
Credit Cash $3,000
( To record the cash paid for sales tax)
4. Debit Cash $56,100
Credit Service revenue
( To record the cash collected for towing fees)
5. Debit Gas and Oil Expense $12,000
Credit Cash $12,000
(To record the gasoline and oil expense paid)
6. Debit Depreciation Expense $10,000
Credit Accumulated Depreciation $10,000
(To record the depreciation expense during the year)
7. Debit Service revenue $56,100
Credit Gas and Oil Expense $12,000
Depreciation Expense $10,000
Retained earnings $34,100
(To record the closing of expenses and revenue at the end of the year)
Calculation for straight-line depreciation on the wrecker for Year 1:
Formula - Cost - salvage value/Useful Life
= ($32,000+$3,000)-$5,000/3
= $10,000 per year.
The journal entries for Year 2 and 3 are attached below.
Therefore, the journal entries for Year 1 have been shown.
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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.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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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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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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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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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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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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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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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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a regional group of countries with a common external tariff, no internal tariffs, and coordinated laws to facilitate exchange among members is called?
A Customs Union is a geographical collection of nations having a unified external tariff, no internal tariffs, and coordinated regulations to ease trade among members.
A Customs Union is a type of trade bloc that seeks to remove barriers to trade between member countries and create a common market for goods and services.
In addition to a common external tariff, Customs Unions typically involve the harmonization of trade-related policies and regulations and the elimination of internal tariffs and other trade barriers between member countries.
One of the main benefits of a Customs Union is that it allows member countries to increase trade among themselves, leading to greater economic efficiency and increased growth.
By eliminating internal tariffs and coordinating trade policies, Customs Unions also reduce the costs of doing business for firms operating within the union, making it easier for them to access markets and compete with firms from other countries.
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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#SPJ4the 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)
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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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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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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_____ is a method to increase employee productivity by making changes to the way work gets done by focusing on the characteristics of jobs and altering how tasks are structured and coordinated.
a.Organizational restructuring
b.Benchmarking
c.Onboarding
d.Redesigning work
Redesigning work is is a method to increase employee productivity by making changes to the way work gets done by focusing on the characteristics of jobs and altering how tasks are structured and coordinated.
Job redesigning is the process of rearranging a job's activities, responsibilities, and other components so that it is more motivating and inspiring for the workers.
In order to expand the variety of assignments and functions, the process involves reviewing, analysing, adjusting, reforming, and rearranging the job-related content and dimensions.
This helps to inspire employees and make them feel like valuable members of the team.
Putting the right person in the right job will maximise output and increase employee satisfaction, which is the major goal of job redesigning.
Redesigning jobs inspires workers and improves the standard of their working lives. It boosts their productivity on the job and motivates them to deliver better work.
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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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two 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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