Make a variable declaration to maintain a double sales tax rate in your county. The best choice in this case is TaxRate (B).
How does the sales tax calculated?
Sales tax percentage is equal to 100 divided by the sales tax rate.
List price times sales tax rate equals sales tax.
What distinguishes sales tax from VAT?
In that only the final customer is taxed in a VAT, it is similar to a sales tax. Unlike the sales tax, which is collected and paid to the government just the once, at the time the final customer makes their transaction, this tax is gathered and paid to both the administration on a continuous basis.
GST or VAT—which is superior?
The implementation of the goods-and-services tax (GST) bill will gradually reduce the price of items because only one tax will indeed be applied.
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which of the following statements is true of new product categories? question 5 options: new product categories do not differ with regard to their associated risks and uncertainties. all new product categories are not necessarily innovations. the least innovative category of new products is product repositionings. additions or revisions to existing product lines do not fall under the domain of new product categories.
B. All new product categories are not necessarily innovations is true about new product categories.
New-to-the-world products are the only truly new product category. These products are truly novel because they establish a whole new market and represent only a small portion of the new product category.
Microwave ovens, microprocessors, and copiers are examples of new product categories. Ninja Tech's goods do not fit into any of these categories.
New product lines are the second new product category. A new product line is created when a company introduces a product from a new category that they have not before offered.
Ninja Tech, for example, just released Ninja Tech Nutritional Bars to help with memory. Their prior products were all tied to technology, and their foray into the food sector would be considered a new product line.
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Correct question:
Which of the following statements is true of new product categories?
A. New product categories do not differ with regard to their associated risks and uncertainties.
B. All new product categories are not necessarily innovations.
C. Additions or revisions to existing product lines do not fall under the domain of new product categories.
D. The least innovative category of new products is product repositionings.
you are currently involved in controlling procurements on a mission critical project for your organization. a seller has been contracted to provide a high load winch system. the winch that was to be supplied was rated at 1,000 pounds, but it is currently unavailable and will be replaced with the 1,200-pound model. this will result in a change to the contact. which action will best resolve this change? answers a. initiating claims administration b. performing inspections and audits c. implementing an integrated change control system d. using the contract change control system
Using the contract change control system will best resolve controlling procurements on a mission critical project for your organization.
What is contract change control system?All modifications to the project management contract are gathered, tracked, and communicated using the contract change control system. Contracts typically include clauses that allow for revisions or the inclusion of new things.
What different types of change management exist?
The three types of guided change management are developmental, transitional, and transformative. Different types of change necessitate different strategies and approaches in order to raise engagement, reduce opposition, and promote acceptance.
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one year ago, xzy deposited $1,260 in an account that has earned and will earn 11.40 percent per year in compound interest. if bca deposits $4,350 in an account in 2 years from today that earns simple interest, then how much simple interest per year must bca earn to have the same amount of money in 12 years from today as xzy will have in 12 years from today? answer as an annual rate. 0.48% (plus or minus .05 percentage points) 8.89% (plus or minus .05 percentage points) 1.79% (plus or minus .05 percentage points) 0.58% (plus or minus .05 percentage points) none of the above is within .05 percentage points of the correct answer
Monetary amount In 12 years, the deposit amount multiplied by the interest rate will be $1260.
In 13 years, that amount will be $1260 multiplied by 4.06918543, which will equal $5,127.1736.
Simple interest rate = ((amount of money in 12 years / amount deposited in year 2) - 1) / number of years,
Simple Interest Rate = (($5127.1736 / $4350) - 1) / 10
Simple Interest Rate = 1.79%
Borrowers must pay lenders simple interest as a fee in exchange for a loan. Compound interest is excluded from the calculation and just the original principal is used. Simple interest applies to all loans, not just specific ones. Additionally, it refers to the kind of interest that banks give their customers on their savings accounts.
It is straightforward to calculate simple interest using a formula. Simply multiply the principal of the loan by the term's interest rate.
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_______is best described as executives’ use of power and influence to direct the activities of others when pursuing an organization’s goal
Leadership is best described as executives’ use of power and influence to direct the activities of others when pursuing an enterprize's goal.
Leadership is the ability to influence, motivate, and enable others to contribute towards the realization of a common vision or goal. It involves setting direction, creating a supportive environment, and inspiring and guiding individuals and teams to achieve their full potential. Effective leadership requires a combination of personal qualities, such as integrity, empathy, and courage, as well as specific skills and strategies for communication, decision-making, and problem-solving.
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how does craig's overhearing the discussion about advertising affect him? responses it reminds him that he has always been interested in how commercials are made, and shows that he is still interested. it reminds him that he has always been interested in how commercials are made, and shows that he is still interested. it shocks him into realizing that he has led a sheltered, limited life so far and must change it. it shocks him into realizing that he has led a sheltered, limited life so far and must change it. it lets him see that the advertising executives, with their designer suits and their influential jobs, have advantages he doesn't. it lets him see that the advertising executives, with their designer suits and their influential jobs, have advantages he doesn't. it sparks his recognition that he does not have to follow the career path laid out for him by his family
It prompts him to realize that he is not required to choose the job route set forth by his family.
What impact does the author's analysis of the movie Halloween have on the text?It delivers a good illustration of a scary movie that creates a fun-horror experience for its audience through controlled dread. It emphasizes the distinctions between being frightened by a movie and an interactive haunted house.
How does the reader's comprehension of the main character change as a result of the third person limited narration?Because only one person's ideas and feelings are conveyed in third person limited, the reader may feel more connected to a character as a result, potentially forging a link between them.
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Which of the following characteristics does not apply to cash equivalents?
A) Short-term
B) Highly-liquid
C) Readily convertible into cash
D) Sensitive to interest rate changes
Option D, Sensitive to interest rate changes, is correct.
What are cash equivalents?Cash equivalents are highly liquid, short-term assets that can be quickly converted into cash. They can be utilized to satisfy a company's short-term cash demands because they are regarded as a nearly ideal cash substitute.
Cash equivalents include, for instance:
Treasury bills, commercial paper, and certificates of deposit are examples of money market securities (CDs)government bonds that are due soonAcceptances from banksAn investment must be low-risk and have a maturity of less than three months in order to be categorized as a cash equivalent. Holding cash equivalents primarily serves as a safe haven for cash while looking for opportunities to invest in higher-yielding securities.
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the only limitation of the sales comparison approach is that
Every property is unique is the only limitation of the sales comparison approach .
The fact that each property is different is the only drawback to the sales comparison strategy. Since every property is different, the sales comparison strategy has some limitations. Finding an appropriate comparative is often challenging, especially for properties with special purposes. Additionally, a thriving market is necessary for sale prices to be reliable and current.
The phrase "sales comparison strategy" refers to a real estate technique that evaluates a property against similar or recently sold properties nearby that are comparable.
When similar properties are frequently sold, the sales comparison strategy works well. The prices of sold properties or comparable properties must be adjusted because no two properties are precisely alike.
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an increase in demand causes an increase in the equilibrium price. the increase in equilibrium price will then cause an increase in supply.
An increase in demand causes an increase in the equilibrium price. The increase in equilibrium will then cause an increase in supply. This statement is false.
Demand growth raises the equilibrium price and equilibrium quantity. A rise in supply results in a decline in equilibrium price and an increase in equilibrium quantity. As a result, while an increase in supply is inevitable, the price is uncertain.
With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply. Reduced demand will result in a drop in the equilibrium price and a reduction in supply.
Prices that are raised normally cause reduced demand while those that are raised typically cause higher supply. However, the way the supply reacts to demand varies depending on the product, with some products' demand being less price-sensitive than others.
The complete question is:
An increase in demand causes an increase in the equilibrium price. The increase in equilibrium will then cause an increase in supply a. true b. false.
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it’s possible to have a high credit score even if you don’t earn much income.
Yes, it is feasible to maintain a high credit score despite having a low income.
A credit score is a measurement of a person's creditworthiness that is based on information about their payment history, amount of debt still owing, credit usage, duration of credit history, and types of credit they have used. A credit score is not directly influenced by income. However, having a larger salary can make it simpler for people to pay off their debts on schedule, which will help their credit score.
A credit score is a numerical expression used to quantify a person's creditworthiness. It is based on a level examination of their credit files. The main component of a credit score is a credit report, which is normally obtained from credit agencies.
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Consider the market for caramel and butterscotch ice cream toppings. For each price change, identify the likely effect on the demand curve for caramel topping.
Drag each item on the left to its matching item on the right.
The demand for caramel topping will decrease.
The demand for caramel topping will increase.
The demand curve for caramel topping will remain the same.
The likely effect on the demand curve for caramel topping is as follows:
The demand for caramel topping will decrease : The demand curve for caramel topping will shift to the left.The demand for caramel topping will increase : The demand curve for caramel topping will shift to the right.The demand curve for caramel topping will remain the same : The demand curve for caramel topping will not shift either to the left or to the right.In economics, the concept of demand refers to the amount of a good or service that consumers are willing and able to purchase at different prices. The demand curve is a graphical representation of this relationship between price and quantity demanded, showing the amount of a good or service that consumers would purchase at each possible price.
When the price of a good or service increases, the quantity demanded generally decreases, as consumers are less willing to pay the higher price. This relationship is known as the law of demand, and the resulting shift in the demand curve to the left is referred to as a decrease in demand.
Conversely, when the price of a good or service decreases, the quantity demanded generally increases, as consumers are more willing to pay the lower price. This shift in the demand curve to the right is referred to as an increase in demand.
If the price of a good or service remains the same, the quantity demanded may still change due to other factors such as changes in consumer tastes, income, or the availability of substitutes. However, the demand curve for the good or service will not shift.
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A new robotic sewing machine allows textile companies to produce clothing more quickly and cheaply, and with fewer mistakes, than human-operated sewing machines.
increase in supply or quantity supplied
The introduction of a robotic sewing machine will likely increase the supply or quantity supplied of clothing produced by textile companies.
This is because the machine is faster and more efficient than human-operated sewing machines, and can produce more clothing in a shorter period of time. Furthermore, robotic sewing machines are also more cost-effective for companies to use, as they require less labor and can work for extended periods of time with minimal breakage.
Additionally, the machine is able to produce clothing with fewer mistakes, allowing for more efficient production processes and higher-quality clothing. These factors all work together to increase the amount of clothing that textile companies can produce, thus increasing the overall supply.
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the slope of the cal is multiple choice question. total return divided by variance. excess return divided by variance. excess return divided by standard deviation. total return divided by standard deviation.
The slope of the capital market line (CML) is typically expressed as the excess return divided by the standard deviation.
The CML is a graphical representation of the relationship between risk and expected return for a well-diversified portfolio. The slope of the CML represents the trade-off between risk and return for an investment. The excess return, also known as the risk premium, is the difference between the expected return on an investment and the risk-free rate of return. The standard deviation is a measure of the volatility or risk of an investment. By dividing the excess return by the standard deviation, we get the slope of the CML, which is a measure of the risk-return trade-off for an investment.
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Which type of survey provides the greatest flexibility for asking probing?
Online survey are one of the best surveying methods. They are easy to adapt for a particular target and can be used by anyone for almost anything.
Likert scales, which were created by American social scientist Rensis Likert and are named after him, are among the most reliable tools for evaluating opinions, perceptions, and behavior's.
EDMs provide surveyors with much more accuracy than metal measurement tapes. Numerous surveys, including detail surveys and a control survey, use this technology. Surveyors measure the horizontal separation between two control points using an EDM device. When the device is in use, the energy is received by a different surveyor who is holding a reflector.
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what question should be asked to help identify a community committee's stakeholders? (select all that apply.)
The following questions can help identify a community committee's stakeholders:
B: Who can assist in providing resources needed for proposed changes?
C: Who has the greatest amount to lose by the proposed change?
D: Who is most affected by the issue being considered?
By asking these questions, the community committee can identify key stakeholders and ensure that their needs and perspectives are taken into account when making decisions and taking action. This can help to increase the legitimacy and effectiveness of the committee's efforts and ultimately benefit the community as a whole.
"
Complete question
what question should be asked to help identify a community committee's stakeholders? (select all that apply.)
a) Who can best successfully affect public opinion regarding proposed changes?
b) Who can assist in providing resources needed for proposed changes?
c) Who has the greatest amount to lose by the proposed change?
d) Who is most affected by the issue being considered?
e) Who has been a long-term member of the community?
"
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brooke, a single taxpayer, works for company a for all of 2022, earning a salary of $74,000. note: round your intermediate and final answers to the nearest whole dollar amount. required: what is her fica tax obligation for the year? assume brooke works for company a for half of 2022, earning $74,000 in salary, and she works for company b for the second half of 2022, earning $124,000 in salary. what is brooke's fica tax obligation for the year?
Brooke's FICA tax obligation for the year is $11,985.
FICA tax means social security withholding added with medicare withholdings.
In 2022, the maximum taxable amount is up to $147,000 of income. So up to $147,000, an employee is responsible for 6.2% of social security taxes and 1.45% for Medicare taxes.
Social security withholdings = $198,000 * 6.2%
= $12,276
Medicare withholdings = $198,000 * 1.45%
= $2,871
The maximum social security tax is capped at ($147,000 * 6.2%) = $9,114.
Therefore,
FICA tax = $9,114 + $2,871
= $11,985
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People are most likely to process the information in a message quickly when writers
use action verbs.
use the passive voice.
exaggerate the facts.
avoid parallel language.
use a lot of buzzwords.
People are most likely to process the information in a message quickly when writers use action verbs.
Action verbs are verbs that describe an action that is being taken. Using action verbs in your writing can make it more interesting and dynamic. For example, instead of saying "The student is reading a book," you could say "The student reads a book with excitement." This makes the sentence more engaging and draws the reader in.
Parallel language is where two or more parts of a sentence have the same grammatical structure. This type of writing is easy to understand and makes your sentences more readable. For example, instead of saying "She loves to run, swim and bike," you could say "She loves to run, to swim, and to bike."
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what percent of dunkin donuts stores are cannibalize?
The exact percentage of Dunkin' Donuts stores that are cannibalized is not publicly available. "Cannibalization" refers to the process by which new stores in a chain compete with existing stores in the same area and reduce their sales or market share.
Dunkin' Brands, the parent company of Dunkin' Donuts, has historically been aggressive in its expansion plans and has opened many new stores in recent years.
However, it is also aware of the potential for cannibalization and has implemented strategies to minimize its impact. For example, the company has focused on opening stores in new markets or locations where there is not already a large concentration of stores.
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ulie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-up company. what amount of child and dependent care credit can julie claim in 2022 in each of the following alternative scenarios? use exhibit 8-10 required: julie paid $2,280 to the day care center, and her agi is $52,800 (all salary). julie paid $5,700 to the day care center, and her agi is $52,800 (all salary). julie paid $5,400 to the day care center, and her agi is $23,600 (all salary). julie paid $2,300 to the day care center, and her agi is $14,200 (all salary). julie paid $5,400 to the day care center, and her agi is $14,000 ($3,400 salary and $10,600 unearned income).
The computation of In each of the following alternative situations, Julie will demand the amount of child and dependent care credit is shown below:-
According to the 1st situation:
Particulars Amount
a. Expenditure of dependent care $2,280
b. Qualifying expenses for one
dependent on limit $3,000
c. Earned income of Julie $52,800
d. Expenses eligible for credit $3,000 (which is least of a, b, and c)
e. Percentage rate on credit 25% (AGI over $43,000)
f. Child and dependent care credit $750 (3,000 × 25%)
According to the 2nd situation:
Particulars Amount
a. Expenditure of dependent care $5,700
b. Qualifying expenses for one
dependent on limit $3,000
c. Earned income of Julie $52,800
d. Expenses eligible for credit $3,000 (which is least of a, b & c)
e. Percentage rate on credit 25% (AGI over $43,000)
f. Child and dependent care credit $750 (3,000 × 25%)
According to the 3rd situation
Particulars Amount
a. Expenditure of dependent care $5,400
b. Qualifying expenses for one
dependent on limit $3,000
c. Earned income of Julie $23,600
d. Expenses eligible for credit $3,000 (which is least of a, b, c)
e. Percentage rate on credit 20% (AGI below $25,000)
f. Child and dependent care credit $600 (3,000 × 20%)
According to the 4th situation
Particulars Amount
a. Expenditure of dependent care $2,300
b. Qualifying expenses for one
dependent on limit $3,000
c. Earned income of Julie $14,200
d. Expenses eligible for credit $2,000 (which is least of a,b,c)
e. Percentage rate on credit 25% (AGI below $15,000)
f. Child and dependent care credit $500 (2,000 × 25%)
According to the 5th situation
Particulars Amount
a. Expenditure of dependent care $5,400
b. Qualifying expenses for one
dependent on limit $3,000
c. Earned income of Julie $14,000
d. Expenses eligible for credit $2,000 (which is least of a,b,c)
e. Percentage rate on credit 25% (AGI below $15,000)
f. Child and dependent care credit $500 (2,000 × 25%)
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In his first comprehensive study, Mintzberg concluded that what managers do can best be described by looking at the managerial roles they engage in at work. What are the three roles?
A. Interpersonal, informational, and decisional
B. Organizing, leading, and controlling
C. Figurehead, leader, and liaison
D. Entrepreneur, disturbance handler, and resource allocator
E. Collecting, receiving, and disseminating information
The concept is Managerial roles, which are behaviors adopted to perform various management functions. The answer is option A, Interpersonal, informational, and decisional.
Management roles are the behaviors adopted to perform various managerial functions, such as Leadership and planning, organization, strategy, and problem-solving. Within an organization, managers at different levels have different responsibilities that may overlap.
The three types of leadership roles are interpersonal, informational, and decision-making roles. Interpersonal roles focus on people and interpersonal interactions. As a figurehead, leader, and link.
Information roles focus on information processing. For example monitors, transmitters, and speakers. Decision roles focus on making decisions. For example, an entrepreneur, a revolutionist, a resource distributor, and a negotiator.
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encompasses all of the data contained within a single business process or unit of work, and its primary purpose is to support daily operational tasks
Transactional information encompasses all of the data contained within a single business process or unit of work, and its primary purpose is to support daily operational tasks.
Information that is gathered from transactions is referred to as transactional information. It keeps track of the date and location of the transaction, the time it took place, the price ranges of the goods purchased, the mode of payment used, any discounts applied, and other quantities and characteristics related to the transaction.
Row-store databases, which are what transactional databases are, store data on disc as rows rather than columns. When you need to see every detail about a single customer in the user table, row-stores are fantastic.
Although they are designed similarly, transactional and analytical queries are used for distinct things. While analytical queries are used to offer the data required to support business decisions, transactional activities assist the day-to-day operations of an organisation.
The complete question is:
What encompasses all of the information contained within a single business process or unit of work and its primary purpose is to support the performance of daily operational tasks?
a) Transactional information
b) Analytical Information
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The transactions of Spade Company appear below.
a. Kacy Spade, owner, invested $18,500 cash in the company in exchange for common stock.
b. The company purchased office supplies for $537 cash.
c. The company purchased $10,231 of office equipment on credit.
d. The company received $2,183 cash as fees for services provided to a customer.
e. The company paid $10,231 cash to settle the payable for the office equipment purchased in transaction c.
f. The company billed a customer $3,922 as fees for services provided.
g. The company paid $520 cash for the monthly rent.
h. The company collected $1,647 cash as partial payment for the account receivable created in transaction f.
i. The company paid $900 cash in dividends to the owner (sole shareholder).
Prepare the Trial Balance.
Trial Balance of Spade Company
Accounts | Debit | Credit
Cash | 18,500 | 10,231
Office Supplies | 537 |
Office Equipment | 10,231 |
Fees Earned | 2,183 | 3,922
Rent Expense | | 520
Dividends | | 900
Accounts Receivable | 3,922 | 1,647
Common Stock | 18,500 |
Totals | 44,863 | 44,863
What is trail balance?A trial balance is a list of credit entries and debit entries that companies utilize to internally cross-check their double-entry accounting systems. The objective is to affirm that the total of all debits equates the total of all credits and recognize whether any entries have been recorded in the wrong account.
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list three ways the credit card industry makes money off of customers?
Cash processing fees, reward redemption fees, and cash advance fees are just a few of the numerous costs that credit card companies impose to generate revenue.
1. Interest: In exchange for the ability to borrow money, credit card balances are subject to interest charges. The cardholder pays the interest to the card issuer along with their monthly balance.
2. Annual Fee: Some credit cards, including reward and travel cards, impose a yearly fee. Depending on the benefits the card provides, this can be anywhere between $50 and $500.
3. Late Fee: If you pay your credit card bill after the due date, the card issuer may impose a late fee, which they keep the money from. It varies depending on the provider and may also be accompanied by a higher interest rate.
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which of the following groups would not benefit from a u.s. import quota on japanese autos? a. u.s. consumers who buy electronics from japan b. members of the united auto workers union c. stockholders of ford motor company d. u.s. farmers who export grain
A US import quota on Japanese cars would not be advantageous to the following groups: American farmers who export grain.
Why buy a Japanese car?The automotive industry in Japan is one of the biggest and most well-known in the world. Japan has overcome Germany to place among the top three auto-producing countries since the 1960s.
Which car brand is well-known in Japan?Toyota is the most well-known brand among the top automakers in Japan, and it routinely takes the top rank. Toyota has been one of the best-selling automakers, selling a sizable number of vehicles across the globe.
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the contour interval describes how many units of elevation there are between….
The contour interval describes 40 units of elevation there are between them.
What is an elevation?Elevation is the height of a point relative to a fixed reference point, most often a reference geoid, which is a mathematical model of the Earth's sea level as an equipotential gravitational surface (see Geodetic datum Vertical datum). Elevation is typically used to describe locations on Earth's surface, whereas altitude or geopotential height is used to describe positions above the surface, like those of flying aircraft or orbiting satellites, and depth is typically used to describe areas below the surface. The angular distance from the Earth's center should not be confused with elevation. The equatorial bulge causes Mount Everest and Chimborazo to have their summits at the highest elevation and greatest geocentric distance, respectively.
Contour interval= 200 / 5 = 40.
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breakeven analysis is a way to compare the total costs of multiple options. (T/F)
Breakeven analysis can be used to analyze the overall expenses of several options, it's true.
You can find out through a break-even analysis how many units of a product must be sold to make up for the fixed and variable manufacturing expenses. The break-even point is regarded as a gauge of the safety margin. From stock and options trading to corporate planning for various initiatives, break-even analysis is widely employed.
When determining when you will break even financially, a break-even analysis compares the costs of a new business, service, or product against the unit sale price. In other words, it indicates the time when you will have generated enough revenue to pay for all of your expenses.
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a point on a nation's production possibilities frontier indicates: question 13 options: a) combinations of output that are unattainable, given the current stock of resources and technology. b) an undesirable combination of goods and services. c) that resources are fully utilized in producing a given combination of goods and services. d) levels of production that will cause both unemployment and inflation.
A point on a nation's production possibilities frontier indicates: question 13 options an undesirable combination of goods and services.
How would you define the border of production possibilities?The production possibilities curve quantifies the trade-off between manufacturing one good versus another. Take the case of a country that produces 120,000 apples and 20,000 oranges, for instance. This is point B on the chart. Less apple production is necessary if it wishes to increase orange production.
What are a production possibilities frontier's three underlying presumptions?The following basic premises underlie the production possibility curve: Resources are provided and don't change. The technology employed in the manufacturing process doesn't change. The technology and resources are effectively and completely used.
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a 50-cent-per-pack tax on cigarettes will reduce smoking by teenagers by 12 percent. this represents
Correct preference is exquisite analysis. Positive monetary evaluation refers to the comparison in which we study what is or how an economic hassle is solved by means of the usage of analysing quite a number superb statements and mechanisms. These are factual statements and describe what was, what is and what would be.
What are the examples of positive analysis in economics?A wonderful economics instance is a statement, “Government-funded healthcare surges public expenditures.” This announcement is primarily based completely on data and has a big charge judgment worried in it. Therefore, its credibility can be examined or dis-proven by means of a research about of the government's involvement in healthcare.
What is advantageous contrast specifically based on?Positive analysis, accordingly, uses scientific thoughts to arrive at objective, testable conclusions.
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For each item that follows, indicate which element of the financial statements it belongs to Retained profits. The equity part of a company's balance sheet includes retained earnings because they represent an equity balance.
The initial retained profits, net income or loss, and dividend payments make up a company's retained earnings. To determine the retained profits amount, these three items are added or subtracted. The ending financialin each major account is then shown on the balance sheet from period to period. Changes in retained profits represent the transfer of net income from the income statement into the balance sheet (adjusted for payment of dividends). Retained earnings are the portion of a company's profits that are still available after paying out dividends to partners.
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Explain how each of the following helped contribute to demand for consumer goods in britain: (a) population explosion, (b) general economic prosperity.
Population growth was aided by the need for more commodities for the general public and overall economic prosperity, so the British had to boost production to keep up with demand.
In the 1700s, Britain saw the beginning of the Industrial Revolution. A number of factors, including the consequences of the Agricultural Revolution, abundant coal resources, the country's topography, a favorable political environment, and a sizable colonial empire, have been pointed out by historians as to why the Industrial Revolution started in Britain early.
A pivotal moment in world history, the Agricultural Revolution had a significant impact on British society. For instance, many historians believe that the Agricultural Revolution, particularly in terms of when and how it started in Britain, was a significant factor in the Industrial Revolution. For instance, the main result of the Agricultural Revolution was an increase in food production, which led to the start of the Industrial Revolution.
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When raw materials are purchased, the Work in Process Inventory account is debited.TRUE OR FALSE
It is True that when raw materials are purchased, the Work in Process Inventory account is debited. The Work in Process Inventory account is a type of asset account that tracks the cost of inventory that has not yet been completed.
When raw materials are purchased, the Work in Process Inventory account is debited because the cost of the raw materials is added to the cost of the inventory that has not yet been completed. The amount debited to the Work in Process Inventory account is equal to the amount of the purchase of the raw materials.
Work in Process Inventory is an asset account that tracks the cost of the raw materials and the cost of labor that has been incurred in the production process. The Work in Process Inventory account is debited when raw materials are purchased in order to record the cost of the materials used in production. When labor costs are incurred, the account is also debited to record and track these costs as well.
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