$2,279,000 is the cost of goods sold for 170,000 units, assuming a FIFO cost flow.
What COGS means?The cost of goods sold (GOGS) is the total of all direct costs incurred in the manufacture of a product. It appears on an income statement and is typically comprised of money spent on raw materials and labor. It excludes costs related to marketing, sales, and distribution.
Given
Opening Units = 40,000 units
Value of opening units = $390,000
Complete units during the year = 300,000 units
Rate of units completed during the year = 4800000/300000 =$16
Required to calculate the value of cogs of 170,000 units using the FIFO method =?
cogs of 170,000 units using the FIFO method = $390,000 + 140,000 x 16
= $2,279,000
FIFO stands for "First-In, First-Out". It is a method used in the calculation of the cost of goods sold for cost flow assumptions. The FIFO method is based on the assumption that the oldest products in a company's inventory were sold first. The calculations are based on the prices paid for the oldest products.
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now imagine that there is a bumper coffee bean crop in south america that lowers price of coffee beans such that market supply increases by 50% at every price. calculate this and report the new market supply in in column l in cells l2 through l17. this column is titled new market supply
The impact of a bumper coffee bean crop in South America that lowers the price of coffee beans and increases the market supply by 50% at every of supply and demand.
If the supply of coffee beans increases dramatically, it is likely that the price will decrease. This is because the increased supply will create an excess of coffee beans in the market supply , and suppliers will need to reduce their prices to sell the surplus. On the demand side, a decrease in the price of coffee beans may attract new consumers who were previously deterred by the higher price. However, it may also discourage existing consumers who are accustomed to paying a higher price for the product. Overall, the change in the market supply will depend on the balance between the increase in supply and the shift in demand. If the increase in supply is greater than the shift in demand, the market will experience a surplus, and prices will decrease further. If the shift in demand is greater than the increase in supply, the market will experience a shortage, and prices will increase.
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The complete Question is:
What is the impact on the coffee bean market when there is a bumper crop in South America?
Consider the decision to read your economics textbook. Which of the four core principles of economics applies to the notion that reading this textbook will help you to establish a solid foundation of understanding economics, which will be beneficial for future courses?A. Interdependence principleB. Marginal principleC. Cost-benefit principleD. Opportunity cost principle
The principle that applies to the decision to read your economics textbook is the Opportunity Cost principle. Here option D is the correct answer.
Opportunity cost is defined as the cost of an action in terms of the best alternative that must be given up. In this case, the opportunity cost of reading the economics textbook is the time and effort you could have spent on other activities, such as leisure or other studies.
By choosing to read the economics textbook, you are making a tradeoff between the benefit of gaining a solid foundation of understanding economics and the cost of giving up the opportunity to do something else.
The Opportunity Cost principle helps individuals and organizations make informed decisions by taking into account the tradeoffs between different options.
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in a nonissuer's financial statement audit, an auditor is required to perform procedures to determine the
A need for an audit of financial statements from both issuers and non issuers is that the auditor determine the risk of fraud.
What standards for audits apply to issuers and non-issuers?As a result, two types of entities may require auditing: Issuer: Public companies that register with the SEC and issue securities are these. A legal requirement for the audit. These are private businesses that do not register with the SEC, act as issuers, or sell securities.
What is the auditor's responsibility in a financial statement audit with relation to fraud?The auditor is responsible for determining if any unusual or unexpected relationships found through analytical approaches, including those involving revenue accounts, may indicate the likelihood of a material misstatement caused by fraud.
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the___ discount is known as finding and developing players, then signing them to long-term contracts on friendly financial terms.
The team building discount is known as finding and developing players, then signing them to long-term contracts on friendly financial terms.
Team Building Discounts refers to the practice of finding and developing young or undervalued players, then signing them to long-term contracts on favorable financial terms. This allows a team to secure talented players at a lower cost, build a strong roster, and potentially contend for championships in the future. The team-building discount is often used by successful organizations as a way to sustain success and build a competitive advantage in the long term. Team building is a continuous cycle that assists a work with gathering develop into a durable unit. The colleagues share assumptions for achieving bunch assignments, yet trust and backing each other and regard each other's singular distinctions.
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CASE 4: Marvin is the secretary in the Facilities Management Department. He has just received a new
computer and wants to try it out. Though his supervisor has a strict policy about computer use for business
purposes only, he wants to learn the e-mail software more thoroughly than his training can provide. One good
way to do this, he figures, is to write e-mail messages to his friends and relatives until he gets the knack of it.
He is caught up on all his work and only has 30 minutes left to work today. His supervisor left early.
1. Identify the ethical issue or problem.
2. Identify anyone who might be affected by the decision and how.
3. List three alternative actions and identify the best and worst case scenario for each alternative, anyone who
would be harmed by this choice (and how), any values that would be compromised by selecting this alternative,
and any automatic reasons why this alternative should not be selected (legal issues, rules, etc.).
4. Determine a course of action.
The answer to the question corresponds to the case above:
The ethical issue raised by Marvin was not allowing his boss to learn new computers that would improve work.Bosses can be influenced by Marvin because Marvin gives reasons to use computers to improve skills.Best scenario: The boss forgives supporting Marvin for using the new computer to understand the computer which will benefit the jobSocial action is an action based on a form of social fact that has a major influence on social life, where the social system in this influence is created from the relationship of individuals to their groups.
Situations in social interaction will shape the social actions of all individuals in the relationship. A gripping situation will create fear and force the mind to seek ideas as a solution.
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researchers in the us and china have showed an ai approach that performed response area major trading indices as well as traditional investment portfolio allocation strategies.
Researchers in the us and china have showed an AI approach that performed better than major trading indices as well as traditional investment portfolio allocation strategies.
An effective portfolio strategy is strategic asset allocation. The investor establishes target allocations for different asset classes and periodically rebalances the portfolio.
When the portfolio considerably deviates from the initial settings as a result of different returns from various assets, it is rebalanced to the original allocations.
The target allocations in strategic asset allocation rely on the investor's investment goals, time horizon, and risk tolerance, among other things.
Additionally, as the parameters alter over time, the allocations might also change.
Personal goals, level of risk tolerance, and investment horizon are a few examples of variables that affect an investor's portfolio distribution when making investing selections.
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True or false?
If a price is set at $210, there is a shortage and there is downward pressure on the price to reach equilibrium.
False, there is a surplus at a cost of $210. To arrive at a lower equilibrium price and quantity, downward pressure on the price would start to build.
The price at which the quantity supplied and demanded are equal is referred to as the equilibrium price. It is established by where the demand and supply curves intersect.
If more goods or services are produced than are needed to satisfy demand at the going rate, there is a surplus, which pushes prices lower. The phrase "downward pressure" literally refers to pressure to reduce a quantity.
If more people want a good or service than can be supplied at the going rate, there is a shortage, which pushes prices up. With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply.
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is it TRue or False : To start work every day, David sits down and sets his goals for the day and then he decides how to achieve them, formulating future courses of action to achieve the specified results. This is the definition of planning.
To start work every day, David sits down and sets his goals for the day and then he decides how to achieve them, formulating future courses of action to achieve the specified results. This is the definition of planning. (TRUE)
What is planningPlanning is a process that begins with setting organizational goals. After that, determine the strategy for achieving the overall goals of the organization, then finally formulate an overall planning system to integrate and coordinate all the work of the organization to achieve the target.
planning is the process of selecting and setting goals, strategies, methods, budgets, and standards (benchmarks) for the success of an activity.
Simply put, planning is determining in advance what will be done. So before carrying out a job, it is better to make a plan in advance so that it is neatly arranged and the work is done more quickly.
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Which of the following is implied by the requirement that a loss should be determinable and measurable to be insurable?I. The loss must be definite as to place.II. The loss must be definite as to amount.A) I onlyB) II onlyC) both I and IID) neither I nor II
The requirement that a loss should be determinable and measurable to be insurable means that both the place of the loss and the amount of the loss must be definite. Option C is correct answer.
In order for a loss to be considered insurable, it must be determinable and measurable. This means that the place and amount of the loss must be definite and clear.
The loss must be definite as to place, which means that the location of the loss must be identifiable and known. For example, if a person wants to insure their car, they must know exactly where the car is located in order to be eligible for insurance coverage.
This is important because different locations carry different levels of risk and the insurer needs to be able to accurately assess the risk to determine the cost of the insurance policy.
The loss must also be definite as to amount, which means that the cost of the loss must be known and quantifiable. This is important because the insurer needs to know the maximum amount they could be required to pay in the event of a loss. If the amount of the loss is not known, it becomes difficult for the insurer to accurately price the insurance policy.
By requiring that a loss be determinable and measurable, the insurance industry is able to more accurately assess and manage risk, which helps to ensure that insurance policies are priced fairly and that policyholders are able to receive the coverage they need when they need it.
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The tax planning strategy based on the understanding that the tax law does NOT treat all types of income and deductions the same is the strategy?
The tax planning strategy based on the understanding that the tax law does NOT treat all types of income and deductions the same is the conversion strategy.
Tax law or revenue regulation is an area of legal observation wherein public or sanctioned governments, including federal, national, al and municipal governments (as within the case of the united states) use a body of policies and approaches (laws) to assess and accumulate taxes in a felony context. The charges and merits of the numerous taxes, imposed with the aid of the authorities, are attained through the political method inherent in those bodies of power, and not at once resulting from the real area of tax regulation itself.
Tax law is a part of public regulation. It covers the application of present tax laws on people, entities, and groups, in areas wherein tax sales are derived or levied, e.g. income tax, estate tax, commercial enterprise tax, employment/payroll tax, assets tax, present tax, and exports/imports tax. There have been a few arguments that purchaser regulation is a higher way to engage in huge-scale redistribution than tax regulation as it does now not necessitate legislation and may be extra efficient, given the complexities of tax regulation.
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suppose you deposit $5000 at 3% interest compounded continously. find the average value of your account during the first 2 years.
If a deposit of $5000 at 3% interest compounded continuously then the average value of your account during the first 2 years would be $5154.59.
Since interest is compounded continuously, therefore we have to use:
A=P[tex]e^{rt}[/tex]
Where;
A is the new amount
P is the principal investment
r is the rate
t is the time
When t=0 years,
A = 5000[tex]e^{0.3 *0}[/tex]
A = 5000
When t=2 years,
A = 5000[tex]e^{0.3 *2}[/tex] =5309. 1827
To find the average, we add the values and divide by the number of years.
(5000 + 5309.1827) / 2 = 5154.59135
Therefore the average value of your account during the first 2 years is $5154.59
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1- How does price elasticity of demand and cross price elasticity of demand differ?
- The price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the good's own price, while the cross price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the price of another good.
- The price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the price of another good, while the cross price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the good's own price.
- Price elasticity of demand depends on the number of existing customers, while the cross price elasticity of demand depends on the number of new customers.
- Price elasticity of demand depends on the number of new customers, while the cross price elasticity of demand depends on the number of existing customers.
2- Cross price elasticity of demand is equal to the percentage change in quantity demanded for Product A, divided by:
- The percentage change in quantity demanded of product B.
- The percentage change in price of product B.
- The quantity supplied of product A.
- The quantity supplied of product B.
3- If the cross price elasticity between apples and oranges is 2, which is correct?
- The two goods are complements, and a price increase in one good will cause an increase in the quantity demanded of the other.
- The two goods are independent, and a price increase in one good will cause an increase in the quantity demanded of the other.
- The two goods are substitutes, and a price decrease in one good will cause an increase in the quantity demanded of the other.
- The two goods are substitutes, and a price increase in one good will cause an increase in the quantity demanded of the other.
4- Suppose the income elasticity of demand for toys is +2.00. This means that:
- A 10 percent increase in income will increase the purchase of toys by 20 percent.
- A 10 percent increase in income will increase the purchase of toys by 2 percent.
- A 10 percent increase in income will decrease the purchase of toys by 2 percent.
- Toys are an inferior good.
5- Which type of goods is most adversely affected by recessions?
- Goods for which the income elasticity coefficient is relatively low.
- Goods for which the income elasticity coefficient is relatively high.
- Goods for which the cross-price elasticity coefficient is positive.
- Goods for which the cross-price elasticity coefficient is negative.
6- Cross elasticity of demand measures how sensitive purchases of a specific product are to changes in:
- The price of some other product.
- The price of that same product.
- Income.
- The general price level.
7- We would expect the cross elasticity of demand between Pepsi and Coke to be:
- Positive, indicating normal goods.
- Positive, indicating inferior goods.
- Positive, indicating substitute goods.
- Negative, indicating substitute goods.
8- Suppose that a 20 percent increase in the price of good Y causes a 10 percent decline in the quantity demanded of good X. The coefficient of cross elasticity of demand is:
- Negative and therefore these goods are substitutes.
- Negative and therefore these goods are complements.
- Positive and therefore these goods are substitutes.
- positive and therefore these goods are complements
Answer:
Explanation:
Price elasticity of demand (PED) measures the responsiveness of the quantity demanded of a good to a change in its price, whereas cross-price elasticity of demand (XED) measures the responsiveness of the quantity demanded of one good to a change in the price of another good.
In other words, PED focuses on the effect of changes in price on the demand for a single good, while XED considers the effect of changes in the price of one good on the demand for another good.
A human service worker is asked to plan a recreational activity for elderly residents on the floor where she works. She is not sure what to arrange but finally decides to do program on supplemental Medicare insurance. She invites a friend who sells supplemental Medicare insurance. The friend gives a complete explanation, handing out brochures on her business and her business card and explaining the insurance products her company can offer individuals on Medicare.What is the issue here?
Medicaid provides health insurance to some people and families in all states, including kids, parents, expectant mothers, older people with certain incomes, and persons with disabilities.
What is health insurance?
A type of insurance known as health insurance or medical insurance covers all or a portion of the risk associated with a person needing medical care.
The risk is distributed among several people, just like with other kinds of insurance.
An insurer can create a regular financial structure, such as a monthly premium or payroll tax, to provide the funds to pay for the medical benefits provided in the insurance agreement by assessing the overall risk of health risk and health system expenses over the risk pool.
A central organization, such as a government agency, for-profit corporation, or private company, is in charge of administering the benefit.
The specifics of the plans, including as the deductible, coinsurance, and health savings accounts, may be customizable for both employers and employees.
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identify characteristics of good management practices for csr and citizenship. (check all that apply.)
Corporate citizenship refers to a company's social responsibility as well as how well it upholds its legal, moral, and financial obligations as determined by its shareholders.
What are the four CSR types?Environmental responsibility, ethical responsibility, philanthropic responsibility, and economic responsibility are the four basic categories of CSR. Companies can, however, also take into account various CSR initiatives, such as diversity and inclusion, governance, wellbeing, and employee engagement.
Corporate Social Responsibility: What Is It?Corporate social responsibility (CSR) is a self-policing corporate strategy that enables an organization to be socially accountable to its customers, employees, and stakeholders. Companies can be aware of their impact on the economic, social, and environmental aspects of society by engaging in corporate social responsibility, often known as corporate citizenship.
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How many colleges have a lottery system for allotting student tickets for sporting events on their campus. All interested are assigned a number, and the winning students are selected using random numbers?
The lottery system using random numbers is one way that colleges allocate student tickets for sporting events on their campus.
Colleges across the United States have different methods for allocating student tickets for sporting events on their campus.
The college then uses a random number generator to select 1000 numbers between 1 and 1500, and the students corresponding to these numbers are the lucky winners.
The randomness in the selection process ensures that the tickets are fairly distributed among the interested students and eliminates the possibility of anyone having an unfair advantage.
It is important to note that not all colleges use a lottery system for allocating student tickets for sporting events. Some colleges may have a first-come, first-served approach, or use a combination of different methods.
However, the use of random numbers in the lottery system ensures that the allocation process is unbiased and fair.
This system ensures fairness in the allocation process and eliminates the possibility of bias.
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find the equilibriumsolutions find a formula for y'' and use this to determine the concavity of solutions for certain values of y
On the intervals (−3,0) and (3,∞) we have y′′>0 so the solutions are concave up, on (0,3) and (−∞,−3) we have y′′<0 and the solutions are concave down.
(a). The differential equation has equilibria at the roots of y² −9 which are y = ±3
(b). The two equilibria partition the real line into three intervals. Solutions of the differential equation are increasing on the intervals
(−∞, −3) and (3,∞) since here y′=y²−9>0, and decreasing on (−3,3) where y′=y²−9<0.
(c). y=−3 is stable since solutions tend toward it (increasing from below, decreasing from above), while y=3 is unstable since solutions tend away (decreasing below, increasing above).
(d). The second derivative of a solution of the differential equation will satisfy y′′=d/dt(y²−9)=2yy′=2y(y²−9)
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CORRECT QUESTION FORMAT IS GIVEN BELOW —------------------
Q. Consider the autonomous equation y′=y²−9 with initial data on the interval I =(−∞,∞).
a) Find all the equilibrium solutions of the differential equation in the interval I.
b) Find the open intervals where solutions to the differential equation are increasing and decreasing.
c) Classify the stability of each equilibrium solution found in part (a) as Stable, Semistable, or Unstable.
d) Find the open intervals where solutions to the differential equation are concave up and down
The _____ budget constraint shows the tradeoff between present and future consumption.
a) time-value of money
b) inflation
c) utility-maximizing
d) intertemporal choice
The intertemporal choice budget constraint shows the tradeoff between present and future consumption. So, the correct option is D.
The trade-off they must make between spending money now or saving it for the future. This budget constraint represents the balance between the desire to enjoy the benefits of consumption today and the need to save and invest for future consumption.
The budget constraint takes into account several factors, such as the time-value of money, which represents the idea that a dollar today is worth more than a dollar in the future due to the opportunity cost of waiting.
Inflation is also an important factor to consider in the intertemporal choice budget constraint. Inflation affects the purchasing power of money over time, meaning that if the rate of inflation is high, the same amount of money will buy fewer goods and services in the future.
Finally, the budget constraint also takes into account the utility-maximizing decisions made by individuals and companies. These decisions are based on the idea that people aim to maximize their well-being and reach their goals.
This means that they will make decisions that they believe will give them the most satisfaction and benefit in the long run, given the trade-off between present and future consumption.
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Public Accounting firms with offices in most major cities in the United States are called this. These firms may operate internationally as well
Public accounting firms are national companies with locations in the most significant US cities. These companies might also conduct business abroad.
What are National Firms?Regional business a corporation incorporated under and subject to the laws of a national, state, or territory government is referred to as a "national corporation" if its ownership is held through publicly traded shares.
National businesses are Public Accounting firms with locations in the majority of major US cities.
These businesses could also have international operations.
A corporation that has its headquarters in one nation but has activities in several nations is known as a national business.
A national business is a corporation with its headquarters in one nation but with operations in many nations.
Therefore, public accounting firms are national companies with locations in the most significant US cities. These companies might also conduct business abroad.
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True/False: the entire difference between the actual manufacturing overhead cost for a period and the applied manufacturing overhead cost is typically closed to the work in process account
The statement the entire difference between the actual manufacturing overhead cost for a period and the applied manufacturing overhead cost is typically closed to the work in process amount is false. Raw materials that have been ordered for use.
In production are represented by the entry in the T-account below. The major distinction between the two notions is that applied overhead refers to the typical overhead attached to cost objects, whereas real overhead refers to the cost that was actually incurred. The two numbers are rarely the same in any one year due to this disparity. The amount that is added to jobs once work is finished is known as applied overhead.
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1. Select a product. It can be real or made up. Give your good or service a name and a price in U.S. dollars. Identify the market type for your product (pure/perfect competition, monopolistic competition, oligopoly, monopoly)
Product Name: Tvs
Price: $500 Market
Type: Oligopoly
I’m trying to help my friend that ended up getting a zero on her assignment and I need help identifying if TVs would belong in a different competition and I feel as if it belongs in pure competition because there are multiple companies that sell similar products for similar prices
Product: Televisions
Name: "ViewMaster"
Price: $500
Market Type: Oligopoly
What makes it Oligopoly?TVs can be considered to be in an oligopolistic market. While there are multiple companies that sell similar products, a few large firms dominate the market, such as Samsung, LG, and Sony, and have significant market power. They can influence prices, product features, and distribution through their brand recognition, advertising, and economies of scale.
This leads to limited price competition, product differentiation, and barriers to entry, which characterizes an oligopolistic market.
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Sardin Company begins the month of March with $17,000 of work in process costs from Job 324. Information from job cost sheets shows the following additional costs assigned during March, Apri, and May of 2013: Manufacturing Costs Assigne April Job No. March Ma 324 $26,000 325 326 327 328 20,000 $28,000 $15,000 41,000 11,000 16,000 34,000 $29,000 51,000 Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $145,000 Calculate the balances of the work in process Work in process Job 328 85000 Calculate finished goods inventory accounts at the end of May Finish Job 325 63000 Job 327 55000
Job 324 was completed in March, so its Work in Process account balance at the end of March should be $17,000.
During April, Manufacturing Costs Assigned for Job 324 was $26,000, so the Work in Process account balance for Job 324 at the end of April should be $43,000. During May, Manufacturing Costs Assigned for Jobs 325 and 327 were $20,000 and $15,000, respectively.
Since Job 325 was completed in May, the Finished Goods Inventory account balance for Job 325 at the end of May should be $83,000 ($20,000 + $63,000). Since Job 327 was completed in May, the Finished Goods Inventory account balance for Job 327 at the end of May should be $70,000 ($15,000 + $55,000). The Work in Process account balance for Job 328 at the end of May should be $85,000.
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For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy. At the time of surrenderfor the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause. the person decides to surrender the policy. at the time of surrender, the person will receive
For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause a calculated amount of money that includes the premiums paid as well as the interest on that money. option (C) is correct.
If the policy has been active for quite a long time and has developed money esteem, the individual might get more than the underlying premium paid, yet it will be not exactly the demise benefit.
The sum that the individual will get when they give up for what seems like a forever insurance contract with a money esteem provision will rely upon a few elements, including the ongoing money worth of the contract, any remaining credits or punishments, and the terms of the policy.
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This question is incomplete, Here I am attaching the complete question:
For the past five years, a person has had a $20,000 whole life insurance policy that has a cash value clause. The person decides to surrender the policy. At the time of surrender, the person will receive:
A: one-fifth of the $20,000 face value.
B: $20,000 less the premiums paid.
C: a calculated amount of money which includes the premiums paid as well as the interest on that money.
D: a calculated amount of money that must be converted to a term life insurance policy.
Copper Inc., an existing clothing outlet, decides to shift from direct to online retailing. It offers the same products at a reduced price as it does not have to incur the costs to manage a store. In this case, which of the following patterns of innovative strategies has Copper adopted?
Option c, Reconfiguring the value chain to eliminate activities patterns of innovative strategies has Copper Inc. adopted.
Copper Inc. has decided to move from direct retailing to online retailing, which means it has reconfigured its value chain to eliminate certain activities such as managing a physical store. This change in the value chain has allowed Copper Inc. to reduce its costs and offer the same products at a lower price. The focus of this strategy is to streamline and optimize the company's operations, rather than creating product differentiation, adding new features, or disrupting the market. By eliminating the costs associated with physical eliminate , Copper Inc. has been able to improve its competitiveness and meet the changing demands of the market.
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The Complete Question is:
Copper Inc., an existing clothing outlet, decides to shift from direct to online retailing. It offers the same products at a reduced price as it does not have to incur the costs to manage a store. In this case, which of the following patterns of innovative strategies has Copper adopted?
Forming product differentiation strategies to increase value
Reconfiguring the value chain to eliminate activities
Adding additional product features to increase the product life-cycle
Creating low-end disruptive innovations to decrease competition
Global financial markets operate under a system of __________, where the supply and demand for various currencies dictate their value at any moment in time. (A) living rates(B) foreign good rates(C) floating exchange rates(D) live trading rates
(C) floating exchange rates.
Floating exchange rates is a system where the value of a currency is determined by the supply and demand for it in the foreign exchange market. In a floating exchange rate system, the central bank does not directly control the value of its currency; instead, market forces determine the exchange rate. This allows for more flexible and responsive currency values, as exchange rates can change quickly in response to changes in supply and demand. The foreign exchange market is where currencies are bought and sold, and exchange rates are established based on the prevailing market conditions. Under the floating exchange rate system, the value of a currency can fluctuate daily, sometimes even hourly, as market conditions change.
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Tarheel Corp. plans to prepare its adjusting entries for the year ending December 31, 20X1, and has the following information available: At the beginning of December, the "Supplies" account had a balance of $200.On December 10, supplies costing $400 were purchased.On December 31, 20X1, a physical count shows supplies costing $150 are still unused.Required: In the general journal below, prepare the adjusting entry needed on Dec 31, 20X1 related to the supplies. Assume the Dec 10 entry was correctly recorded.
Here is the adjusting entry that would need to be made in the general journal on December 31, 2021, related to the supplies: Debit: Supplies Expense $250 and Credit: Supplies $250.
Adjusting entries are necessary to ensure that financial statements reflect the most accurate and up-to-date information possible. This is especially true for accounts like supplies that change in value over time. To record the adjusting entry for supplies, Tarheel Corp needs to calculate the value of supplies on hand at year-end. The company started the month with $200 in supplies and added $400 on December 10, giving a total of $600. However, a physical count at year-end showed only $150 of supplies were still unused. Therefore, Tarheel Corp needs to record a $450 adjustment to the supplies account to bring the balance up-to-date. This adjustment will ensure that the company's financial statements accurately reflect the value of supplies on hand as of December 31, 2021. To make this adjustment, Tarheel Corp would debit supplies expense for $450 and credit supplies for $450. This entry would effectively reduce the value of supplies by $450 and increase the value of supplies expense by the same amount, thus reflecting the actual usage of supplies during the year.
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An investment strategy has an expected return of 7 percent and a standard deviation of 4 percent. Assume investment returns are bell shaped.a. How likely is it to earn a return between 3 percent and 11 percent? (Enter your response as decimal values (not percentages) rounded to 2 decimal places.) Probability b. How likely is it to earn a return greater than 11 percent?(Enter your response as decimal values (not percentages) rounded to 2 decimal places.) Probability c. How likely is it to earn a return below −1 percent?
A). Probability that the return is between 3 and 11 percent is 0.68 B). The probability that the return will be greater than 11 percent is 0.16 C). Probability of return less than -1 percent is 0.02.
P(X < A) = P(Z < (A - mean)/standard deviation)
Mean = 7 percent
Standard deviation = 4 percent
A)Probability that the return is between 3 and 11 percent = P(3 < X < 11) = P(X < 11) - P(X < 3)
3 and 11 are one standard deviation from the mean 7 (7+4 = 11 and 7-4 = 3)
So, according to the 68, 95, 99.7 rule, the probability of the events that lie within one standard deviation from the mean = 0.68
B) Probability that return will be greater than 11 percent = P(x > 11)
=1 - P(x < 11)
= 1 - P(z < (11-7)/4)
= 1 - P(z < 1)
= 1 - 0.84 = 0.16
C) Probability of return less than -1 percent = P(x < - 1) = P(z < (-1 - 7)/4)
= P(z < - 2)
= 0.02
In finance, the motive of investing is to generate a return from the invested asset. The return may additionally include an advantage (income) or a loss found out from the sale of an asset or an investment, unrealized capital appreciation (or depreciation), funding earnings that include dividends, hobby, or apartment income, or a mixture of capital advantage and income. The go-back can also include forex gains or losses due to modifications inside the foreign currency exchange fees.
Funding is the determination of cash to purchase an asset to attain an increase in cost over a time period. investment requires a sacrifice of a few gift assets, consisting of time, money, or attempt. buyers commonly anticipate higher returns from riskier investments. while low-danger funding is made, the go-back is likewise normally low. in addition, the excessive hazard comes with a hazard of excessive losses.
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the entry to record income tax accrued, but unpaid, at the end of the accounting period includes both a and a . (check all that apply.)
The entry to record the income tax accrued, but unpaid, at the end of accounting period includes both debit to income tax expense and credit to income tax payable.
What is income tax?A category of taxes that governments impose on income generated by businesses and individuals under their authority is referred to as "income taxes." In addition to funding public services and supplying inhabitants with goods, they are used to settle debts owing to the government. The federal government is not the only entity that requires payment of income tax; numerous states and local governments do as well. Some assets, such bonds issued by housing authorities, are exempt from taxes in most cases. An alternative name for individual income tax is personal income tax. This sort of income tax is levied against an individual's wages, salaries, and other kinds of income. Usually, this tax is levied by the state. People can use a variety of tax deductions and credits that the IRS offers to reduce their taxable income.
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Sandy manages a team responsible for making laser sensors for a manufacturer. When evaluating if her project is ready to close, she takes note of certain impacts of the project once implemented.
Sandy should discuss the impact with the project sponsor and which of the following people?
a. Stakeholders interested in the project
b. The project team creating the deliverables
c. People who will use the deliverables
d. The person who implements the deliverables
Sandy should discuss the impact with the project sponsor and the person who implements the deliverables. So , the correct option is D.
The person responsible for implementing the deliverables is typically responsible for putting the project's deliverables into use and ensuring that they are integrated into the business processes and systems in the most effective and efficient manner.
Therefore, it is important for Sandy, as the project manager, to discuss the impact of the project with the person responsible for implementing the deliverables to ensure that they are aware of the results of the project and how it will affect their implementation process.
This may include any new procedures or processes that need to be established, any changes to existing systems or processes, and any training or support that will be required to ensure a successful implementation.
By discussing the impact of the project with the person responsible for implementing the deliverables, Sandy can help to ensure that the project is implemented smoothly, that any potential issues are identified and addressed early on, and that the benefits of the project are realized as quickly and efficiently as possible.
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the cyclically adjusted budget deficit is an estimate of what the budget balance would be if real gdp were
The budget balance is a projection of what it would be if real GDP were equal to potential output, and is known as the cyclically adjusted budget deficit.
"Cyclically adjusted budget balance": What does it mean?
dynamic balance modifications (CAB) Calculating the fiscal balance that would be in place under the current policies if output were equal to potential; alternatively, calculating the gap between the overall balance and the automatic stabilizers.
Why is the cyclically adjusted budget balance more reliable than the actual budget balance in predicting the long-term viability of government programs?It is assumed that the economy would finally reach full employment since the cyclically adjusted budget balance eliminates the business cycle. As full employment is a function of real GDP, the cyclically adjusted budget balance is therefore preferred over the long-term sustainable budget balance.
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Ray Albertson is 72 years old and lives by himself in an apartment in Salt Lake City. Ray’s gross income for the year is $3,000. Ray’s support is provided as follows: Himself (9 percent), his daughters Diane (20 percent) and Karen (15 percent), his sons Mike (20 percent) and Kenneth (10 percent), his friend Milt (14 percent), and his cousin Henry (12 percent).a. Absent a multiple support agreement, of the parties mentioned in the problem, who may claim Ray as a dependent as a qualifying relative?b. Under a multiple support agreement, who is eligible to claim Ray as a dependent?c. Assume that under a multiple support agreement, Diane claims Ray as a dependent. Diane is single with no other dependents. What is her filing status?
Under the Internal Revenue Service (IRS) rules, a person can only be claimed as a dependent if they are a qualifying relative.
To be a qualifying relative, the person must meet certain tests, including the gross income test, the support test, and the relationship test. In this case, Ray's gross income of $3,000 is below the threshold for the gross income test, so that test is met.
The support test requires that the person being claimed as a dependent must receive more than half of their support from the person claiming the dependency exemption.
Based on the information given, Ray's daughters Diane and Karen, his sons Mike and Kenneth, his friend Milt, and his cousin Henry all provide more than 10 percent of his support, meaning that any of these parties could claim Ray as a dependent as a qualifying relative.
b. A multiple support agreement is a written agreement between two or more individuals who contribute more than 10 percent of a person's support, allowing one person to claim the dependency exemption. In this case, under a multiple support agreement, only one person can claim Ray as a dependent.
c. If Diane claims Ray as a dependent under a multiple support agreement, her filing status would be single. A person's filing status is determined by their marital status as of December 31 of the tax year. Since Diane is single, her filing status would be single, regardless of whether she claims Ray as a dependent.
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