If an auditor includes an emphasis-of-matter paragraph to draw users' attention to a matter relevant to the users' understanding of the financial statements of a non-issue, then the auditor should be in compliance with the Statements on Auditing Standards (SASs).
Auditor compliance with Statements on Auditing Standards (SASs) is required by the American Institute of Certified Public Accountants (AICPA) professional association. For example, an auditor's emphasis-of-matter paragraph is added to the audit report in situations when the auditor concludes that management's financial statements are fairly stated, but a significant event or matter is important to the financial statements' users' comprehension.
When an auditor makes reference to a matter that is not consistent with the client's financial statements, the auditor should not use an emphasis-of-matter paragraph to highlight the issue. In summary, the auditor must be in accordance with SASs when adding an emphasis-of-matter paragraph to the audit report.
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True or False, generally accepted accounting principles are accounting standards that are changed and refined in response to changes in the environment in which businesses operate.
True. In order to reflect changes in the business environment, such as adjustments to accounting standards, legislation, and regulations, generally accepted accounting principles (GAAP) are accounting standards that are continually evaluated and updated.
Which assertion about GAAP is accurate?The right answer is option B: Modifications to GAAP may have an impact on the manager's and investors' interests. When a publicly listed company strives to maximize the recognized value to the decision makers who are external to the organization, changes in GAAP may have an impact on the interests of the stockholders & managers.
What may businesses employ in accordance with widely accepted accounting principles?According to their needs, businesses can produce financial statements under generally accepted accounting principles (GAAP) using either the cash basis or the accrual basis of accounting.
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Which of the following measures did the Fed use in addition to the creation of the short-term emergency lending facilities in order to inject liquidity into financial markets? O Required reserve ratio O Quantitative easing O Secondary credit O Primary credit
The Fed used "quantitative easing" measures in addition to the creation of short-term emergency lending facilities in order to inject liquidity into financial markets.
What is quantitative easing? Quantitative easing (QE) is a monetary policy tool that central banks use to stimulate the economy when interest rates are low or when they have reached their lower bound. The central bank purchases large quantities of government bonds, corporate bonds, and other financial assets from banks, insurance companies, and other financial institutions, injecting liquidity into the market and increasing the supply of money. This can lead to lower interest rates, which in turn can encourage borrowing and investment. What are the short-term emergency lending facilities?
Short-term emergency lending facilities are special programs that central banks can use to provide emergency liquidity to financial institutions during periods of financial stress. These programs typically involve loans or other forms of financing that are designed to help banks and other institutions that are experiencing temporary liquidity shortages. The loans may be secured by collateral or may be unsecured, and they may have special terms or conditions attached to them to help reduce risk.
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jenny has decided to raise the prices on the products that she sells. after doing some market research she has concluded that her business is the only producer of the product and that there are generally no substitutes. what market system is jenny in? group of answer choices monopolistic perfect monopsony oligopoly monopoly
Jenny is in a monopoly market system. This is because she is the only producer of the product, and there are generally no substitutes, meaning that she has total control over the pricing of her products.
Jenny is in the monopoly market system. This is because Jenny has decided to raise the prices of the products that she sells. After doing some market research, she has concluded that her business is the only producer of the product and that there are generally no substitutes.
A monopoly market system refers to a market structure that consists of a single supplier of a particular product or service with no close substitutes.
In a monopoly market system, the single supplier has significant control over the prices charged, as well as the overall market demand.
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Trung and Dylan are business partners. Their company, Grow iO, develops pesticide-resistant seeds. They initially started the business with their savings. However, now the company plans to expand its operations, and the required amount of capital cannot be raised through savings or by reinvesting profits. Thus, the partners have decided to sell stock in their business to family members, friends, and employees. Which of the following sources of capital have Trung and Dylan planned to use for the expansion of their business?
Multiple Choice
A. debt financing
B. bootstrapping
C. equity financing
D. mortgaging
E. factoring
Trung and Dylan have planned to use Equity financing for the expansion of their business. The correct answer is C. equity financing.
It can be venture capital (VC) or angel investor in order to raise funds for business expansion. Equity financing, unlike debt financing, does not require a regular payment of interest or principal, making it a better option for businesses with uncertain future cash flows.
In the scenario given, the partners have decided to sell stock in their business to family members, friends, and employees. This process is known as equity financing. So, the correct answer is C. equity financing.
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An example of a highly cyclical industry is. Select one:
the automobile industry.
the tobacco industry.
the food industry.
the automobile industry and the tobacco industry.
the tobacco industry and the food industry.
An example of a highly cyclical industry is the automobile industry.
A highly cyclical industry refers to an industry that is highly sensitive to the overall business cycle.
These industries often experience significant fluctuations in demand for their products or services due to changes in economic activity, which can result in significant volatility in revenues, earnings, and employment levels.
As a result, firms in highly cyclical industries may find it challenging to maintain profitability and financial stability during periods of economic turbulence.
The automobile industry is an example of a highly cyclical industry. It is sensitive to economic fluctuations, as vehicle purchases are often postponed during times of economic uncertainty or recession.
During economic expansion, on the other hand, there is typically an increase in demand for new cars and trucks, resulting in higher revenues for automobile manufacturers and their suppliers.
In addition to the automobile industry, other highly cyclical industries include construction, real estate, airlines, and heavy machinery manufacturing.
These industries are sensitive to changes in interest rates, consumer spending, and capital investment, which can have a significant impact on their profitability and financial stability.
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Arrow Incorporated agreed to pay $10 million to settle a Section 10-b5 securities lawsuit by its shareholders. Alter the settlement. Arrow filed a lawsuit against the attorneys and accounts involved in the public offering the defendants sought to dismiss the case, claiming there is no right of contribution under section 10(b) of the Securities and Exchange Act of 1934 Which of the following is true? Multiple Choice Allow has a night of contribution against the defendants because the attorneys and accountants are per elable if they violated their duties during the public offering Arrow has a right of contribution for any punitive damages it would have been liable for in the section Section 10 o Arrow hos right of contribution against the defendants, who have joint responsibility for the violation
Arrow has a right of contribution against the defendants, who have joint responsibility for the violation is true.
What is contribution in a lawsuitIn a lawsuit, contribution is a legal principle that permits a defendant who has paid more than their share of a joint responsibility to recover the difference from other defendants who were also responsible for the plaintiff's damages.
When a defendant seeks contribution, they are asking a court to determine the amount of liability each defendant bears for the plaintiff's damages, and each defendant must pay their fair share of that responsibility.
Arrow has a right of contribution against the defendants, who have joint responsibility for the violation. lawsuit.
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A car wash services 200 customers in a 4 hour span on a lovely Saturday afternoon. The car wash employs 5 washers at $6 per hour. An appropriate measure of productivity is:
a. 200 cars/hour
b. 0.6 $/car
c. 8.3 cars/$
d. 1.7 cars/$
The appropriate measure of productivity in this scenario is 1.7 cars/$. The correct option is D)
Productivity refers to the efficiency with which an organization can transform resources into goods or services that are valued by its customers. The calculation of productivity requires a measure of output, as well as a measure of input or resources used to produce that output.A car wash with 200 customers in a 4-hour period employs 5 washers at $6 per hour. The total cost of labor is 5 x 6 x 4 = $120.The number of cars washed per dollar spent on labor can be calculated as follows: Number of cars washed = 200 Cost of labor = $120 Number of cars washed per dollar spent on labor = 200/120 = 1.7 cars/$Therefore, the appropriate measure of productivity in this scenario is 1.7 cars/$. Option D is the correct answer.
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arrangements in which commercial spots are purchased from local stations and generally appear during time periods alongside network programs rather than within them are known as .
Answer:
Arrangements in which commercial spots are purchased from local stations and generally appear during time periods alongside network programs rather than within them are known as spot advertising.
Explanation:
What is spot advertising?
Spot advertising is an advertising system that involves the buying of airtime on television or radio by advertisers for commercial spots. These commercial spots can be purchased from local stations or from network programs, and they appear during specific time periods alongside network programs. These spots are also purchased during peak hours, which are the times when the audience is most likely to be watching or listening to the station. In this type of advertising, commercials are played during a break in a television or radio program. The goal of the ad is to attract potential consumers and persuade them to purchase the goods or services being advertised. Spot advertising can be used for many different products, such as beauty products, food, cars, and so on.
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c. the directors of the two hospitals are negotiating unifying the maternity wards of the two hospitals. they believe this will help reduce the number of new mothers staying in the unified ward. how many new mothers would be staying, on average, in the unified ward? (assume that the average number of births and the length of stay of the new mothers will not change.) (round your intermediate calculations to 4 decimal places and final answer to 1 decimal place.)
The required answer is 0.5 new mothers will be staying on average in the unified ward after unifying.
To calculate the number of new mothers staying on average in the unified ward, we have to follow the given steps:
Step 1: Calculate the total number of new mothers in both hospitals before unifying.
Step 2: Calculate the average number of new mothers in both hospitals before unifying.
Step 3: Calculate the total number of new mothers in the unified ward after unifying.
Step 4: Calculate the average number of new mothers in the unified ward after unifying.
Given data:
Length of stay of new mothers = 2 days
Total number of births in both hospitals = 40 + 60 = 100
Let's calculate the total number of new mothers in both hospitals before unifying:
= 40 + 60
= 100
As per the given information, it is stated that the average length of stay of new mothers is 2 days, and it is also mentioned that the length of stay of new mothers will not change.
So, the total number of mothers in the unified ward would be:
Total number of mothers in the unified ward = Total number of mothers in both hospitals before unifying = 100
Now, let's calculate the average number of new mothers in the unified ward after unifying.
Average number of new mothers in the unified ward after unifying = Total number of new mothers in the unified ward after unifying / Total number of days stayed by all new mothers in the unified ward after unifying
We know, the total number of new mothers in the unified ward after unifying is 100.
The total number of days stayed by all new mothers in the unified ward after unifying would be:
Total number of days stayed by all new mothers in the unified ward after unifying = Total number of new mothers in both hospitals before unifying x Length of stay of new mothers
= 100 x 2
= 200
Now, putting the values in the formula we get,
Average number of new mothers in the unified ward after unifying = 100 / 200
= 0.5
The required answer is 0.5 new mothers will be staying on average in the unified ward after unifying.
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a(n)_____ taking, entitling a property owner to just compensation, occurs when a regulation deprives the property owner of all economically beneficial uses of the land.
A regulatory taking, entitling a property owner to just compensation, occurs when a regulation deprives the property owner of all economically beneficial uses of the land.
What is a regulatory taking?A regulatory taking is a situation in which the government limits the use of a privately held property, significantly reducing the value of that property. The taking occurs through the enforcement of a new government regulation or through the actions of local officials. An example of a regulatory taking is when the government requires landowners to set aside a portion of their land for conservation purposes, reducing the amount of land that can be used for development.Regulatory takings occur when the government restricts or confiscates property without compensation. Property owners may be entitled to compensation if they have been subjected to a regulatory taking, which deprives them of all economically beneficial uses of the land.
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determine the semi-annual interest payment for the following three bonds: 2.5 percent coupon corporate bond, 3.15 percent coupon treasury note, and a corporate zero-coupon bond maturing in 10 years. (assume a $1,000 par value.)
The semi-annual interest payment for the following three bonds is as follows: 2.5 percent coupon corporate bond: $25; 3.15 percent coupon treasury note: $31.50; and a corporate zero-coupon bond maturing in 10 years: $0.
A 2.5 percent coupon corporate bond with a $1,000 par value will yield $25 of semi-annual interest payments (2.5% * $1,000 / 2).
Similarly, a 3.15 percent coupon treasury note with a $1,000 par value will yield $31.50 of semi-annual interest payments (3.15% * $1,000 / 2).
A corporate zero-coupon bond maturing in 10 years does not yield any semi-annual interest payments since it is a zero coupon bond. The $1,000 par value is only paid at maturity.
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suppose that furniture production encompasses the following stages:
stage 1: trees are sold to lumber company $1,000
stage 2: lumber is sold to furniture company $2,500
stage 3: furniture company sells furniture to retail store $6,000
stage 4: furniture store sells furniture to consumer $12,000
a) what is the value added at each stage?
b) how much does this output contribute to GDP?
c) how would answer (b) change if the lumber was imported from Canada?
2) if all prices were to double overnight what would be the change in real GDP and nominal GDP?
If all prices were to double overnight, nominal GDP would double as well. Contribute this output would contribute $12,000 to GDP.
The value added at each stage is:
This output would contribute $12,000 to GDP. If the lumber was imported from Canada, the contribution to GDP would remain the same as it was produced outside of the economy.
If all prices were to double overnight, nominal GDP would double as well. However, real GDP would remain the same as it measures output in real terms, or in terms of the number of goods and services produced, not in terms of their prices.
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what amount would a person with actual cash value (acv) coverage receive for three-year-old furniture destroyed by a fire? the furniture would cost $3,800 to replace today and had an estimated life of six years.
The person with Actual Cash Value (ACV) coverage would receive the current market value of the three-year-old furniture, which is the cost to replace it today minus depreciation. In this case, the person would receive $2,700.
The ACV coverage amount is calculated by subtracting the depreciation from the current market value. Depreciation is determined by the estimated life of the item, which in this case is six years.
The amount of depreciation is calculated by taking the age of the item (three years) divided by the estimated life of the item (six years) and multiplied by the current market value of the item (in this case, $3,800).
In this case, the depreciation amount would be $1,100 ($3/6 x $3,800). Once the depreciation amount is subtracted from the current market value, the ACV coverage amount is revealed: $2,700.
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If a bank's capital-to-asset ratio is 0.1 and it's return on equity is 6%, what is its return on assets?
o 0.6%
o 6.0%
o 60%
o 0.06%
If a bank's capital-to-asset ratio is 0.1 and it's return on equity is 6%, what is its return on assets is b. 6.0%
Capital-to-asset ratio = 0.1
Return on equity = 6%
Since the capital-to-asset ratio is 0.1,
Therefore, the equity-to-assets ratio will be
= 1 - 0.1
= 0.9
Therefore, now calculating the leverage ratio:
Leverage Ratio = Assets / Equity
= 1 / 0.9 = 1.1111
Calculating the return on assets -
ROA = Return on Equity (ROE) x Leverage Ratio
= 6% x 1.1111
= 6.6667%
Therefore, the bank's return on assets as per the options will be 6.0%
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select all that apply sales returns and allowances . (select all that apply.) multiple select question. are adjusted for at the end of the accounting period for estimated returns and allowance expected to occur in the following months increases the amount the seller expects to receive from customers reduce the amount the seller expects to receive from customers are required to be recorded at the time of the initial sale are typically recorded after the initial sale when the actual return or allowance occurs
When it comes to sales returns and allowances, they have specific characteristics that you should know. Usually, sales returns and allowances are recorded after the initial sale when the actual return or allowance occurs.
The following are some of them:They are adjusted for at the end of the accounting period for estimated returns and allowances expected to occur in the following months.Reduce the amount the seller expects to receive from customers. Are required to be recorded at the time of the initial sale. Are typically recorded after the initial sale when the actual return or allowance occurs. The following is an explanation of each of the given characteristics:
1. They are adjusted for at the end of the accounting period for estimated returns and allowances expected to occur in the following months. Sales returns and allowances are adjusted for at the end of the accounting period for estimated returns and allowances expected to occur in the following months.
2. Reduce the amount the seller expects to receive from customers. Sales returns and allowances decrease the amount the seller expects to receive from customers.
3. Are required to be recorded at the time of the initial sale. Sales returns and allowances must be recorded at the time of the initial sale.
4. Are typically recorded after the initial sale when the actual return or allowance occurs.
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Answer:
- Reduce the amount the seller expects to receive from customers
- Are adjusted for at the end of the accounting period for estimated returns and allowance expected to occur in the following months
- Are typically recorded after the initial sale when the actual return or allowance occurs
Explanation: Used this other guy’s answer and got it wrong
Capacity is constrained when _________ exceeds _____________ and the flow rate is equal to ____________.
A. supply, demand, process capacity
B. supply, demand, demand
C. demand, supply, process capacity
D. demand, supply, demand
When demand outpaces supply as well as the rate of flow is equal to the process capacity, capacity is restricted.
What is the process flow's capacity?It is typically expressed in "hours" and refers to the capacity of either labor or machinery to produce anything. The Method Human capacity refers to the capacity of employees, whereas machine capacity refers to the capacity of machines.
What is the process's capacity, and where is the bottleneck?Bottleneck: The phase (station) with the lowest throughput the weakest link in the flowcharts is referred to as the bottleneck. Although the business step with the highest processing time is frequently the bottleneck, it's crucial to always consider decision-making capacities.
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Maria invested $8,000 for one year at a simple annual interest rate of 6 percent and invested $10,000 for one year at an annual interest rate of 8 percent compounded semiannually. What is the total amount of interest that Mariaearned on the two investments?A. $880B. $1,088C. $1,253D. $1,280E. $1,296
Maria invested $8,000 for one year at a simple annual interest rate of 6 percent and invested $10,000 for one year at an annual interest rate of 8 percent compounded semiannually.The total amount of interest that Maria earned on the two investments is $1,280.
Given that Maria invested $8,000 for one year at a simple annual interest rate of 6 percent. Maria invested $10,000 for one year at an annual interest rate of 8 percent compounded semiannually.To find the total interest earned, we will calculate the interest earned by both investments separately and then add them up.1) For the first investment of $8000 at a simple annual interest rate of 6 percent, the interest earned would be: Interest = P × r × t= 8000 × 6/100 × 1= $4802) For the second investment of $10000 at an annual interest rate of 8 percent compounded semiannually, the interest earned would be calculated using the formula:Amount (A) = P(1 + r/n)^(nt) where P = $10,000r = 8/100 = 0.08n = 2 (since interest is compounded semiannually)t = 1 year = 2 semiannual periods. Substituting the values in the formula,Amount (A) = 10000(1 + 0.08/2)^(2×1) = $10,816.65. Interest earned = Amount - Principal= $10,816.65 - $10,000= $816.65. Therefore, the total amount of interest that Maria earned on the two investments is:Total Interest = $480 + $816.65= $1,296.65≈ $1,280. Hence, the correct option is D. $1,280.
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A customer views an ad on April 1st, clicks the ad on April 4th, views the ad again on April 7th, and purchases the product on April 9th. Which of the following receives the credit for conversion?a. April 1st impressionb. April 7th impressionc. April 9th purchased. April 4th click
The following receives the credit for conversion in the case given in the question is April 4th click. Hence option D. is correct.
What is meant by conversion?Conversion is the point at which a receiver of a marketing message performs a desired activity or a set of actions that a company wants them to perform. A marketer can take the conversion rate as a percentage of viewers who finish a desired goal.
It may refer to the percentage of visitors to a website that complete a desired action such as filling out a form or making a purchase. In the case given in the question, the following are the details provided:
Hence option D. April 4th click is correct.
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According to Statements on Standards for Accounting and Review Engagements, in which of the following situations would the accountant be required to issue a report? A) An accountant compiles financial statements that are reasonably expected to be used by a third party. B) An accountant withdraws from a review engagement after substantially completing all of the required work. C) An accountant prepares financial statements which are expected to be presented to a bank for the purpose of obtaining a loan. D) An accountant prepares an entity's financial statements which omit substantially all GAAP disclosures.
As per the Statements on Standards for Accounting and Review Engagements, "An accountant compiles financial statements that are reasonably expected to be used by a third party". Thus, A is correct.
Statements on Standards for Accounting and Review Engagements (SSARS) are part of the American Institute of Certified Public Accountants' (AICPA) professional standards. It outlines the minimum requirements for compilation and review engagements, in which accountants report on financial statements.
The accountant should issue a report if the accountant compiles financial statements that are reasonably expected to be used by a third party. The following are the circumstances under which the accountant is required to issue a report:
An accountant conducts a compilation engagement and compiles financial statements.An accountant conducts a review engagement and issues a review report on financial statements.Thus, Option A is correct.
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Identify a corporate behavior that gives the shareholders of a corporation the legal right to initiate dissolution under Section 14.30 of RMBCA.
Multiple choice question.
The corporation is not making substantial profits.
Shareholders have not been paid dividends for one quarter.
There are fewer than eight members in the corporation's board of directors.
Shareholders are deadlocked and cannot elect directors.
Corporate behavior that gives the shareholders of a corporation the legal right to initiate dissolution under Section 14.30 of RMBCA is: The corporation is not making substantial profits. The correct option is A.
What is the RMBCA?The Revised Model Business Corporation Act (RMBCA) is a model for state corporation laws in the United States, published by the National Conference of Commissioners on Uniform State Laws. To encourage the adoption of the model act by the state legislatures, it was initially promulgated in 1950 and has since been revised several times.
There are two types of dissolution under the RMBCA: voluntary and judicial dissolution. Voluntary dissolution is when the shareholders of a company vote to dissolve it, while judicial dissolution is when a court orders a business to dissolve.
Therefore, under Section 14.30 of RMBCA, shareholders have the legal right to initiate dissolution if the corporation is not making substantial profits. Substantial profits would refer to profits made at a certain level that the shareholders have agreed upon, such as a specific percentage increase over a certain period of time.
Therefore, the correct option is A.
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Semantic information difference is a term that describes _______________.
a. when employees and supervisors do not share the same view of some organizational issues, basic job duties, or employees' participation in decision making
b. when the information being presented in a meeting is not in line with the company's mission statement.
c. how companies communicate by different channels such as phone, internet, and mail
d. when semantics play a part in organizational decision making
Semantic information difference is a term that describes "when employees and supervisors do not share the same view of some organizational issues, basic job duties, or employees' participation in decision making" (option A).
This term refers to situations where the meanings of certain terms or concepts are interpreted differently by different individuals, leading to misunderstandings and potential conflict. Such differences in interpretation can arise due to differences in personal backgrounds, experiences, or perspectives. Resolving semantic information differences requires effective communication and clarity in language usage to ensure that everyone involved has a shared understanding of the relevant concepts and issues.
Thus, option a is the correct answer.
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Jim Corp. and Bartle Inc., two parties involved in a spice trade contract, enter into a dispute because of conflicting interests. They are unable to agree to arbitrate and opt for settlement through litigation. This scenario indicates that to settle disputes, Jim Corp. and Bartle Inc. are most likely to have included __________.
A. the Supremacy Clause in their business contract
B. an involuntary arbitration clause in their business contract
C. a postdispute arbitration agreement in their business contract
D. a predispute arbitration clause in their business contract
E. the Commerce Clause in their business contract
Jim Corp. and Bartle Inc., two parties involved in a spice trade contract, enter into a dispute because of conflicting interests. This scenario indicates that to settle disputes, Jim Corp. and Bartle Inc. are most likely to have included a pre-dispute arbitration clause. The correct option is D.
What is meant by Litigation?
Litigation is a term used to describe the act of taking legal action against a person or entity. It is commonly used to settle disputes between two parties who are unable to reach an agreement on their own.
Litigation can be a costly and time-consuming process, but it is often the only way to resolve certain types of legal disputes.
A contract is a legally binding agreement between two or more parties that creates mutual obligations. Contracts can be either oral or written, and they can be simple or complex.
Contracts are essential in business because they establish the terms and conditions of a transaction and provide a framework for resolving disputes.
Therefore, the correct option is D.
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data from the comparative blalance sheets are equipment that cost 877000 and had a book value of 397000 was sold for proceeds of 450000. Depreciation expense for 2021 was
A. $701000
B. $128000
C. $648000
D. $83000
Which of the following are examples of integrity constraints? (Select all that apply, omit those that do not.) a) prevent the creation of an order for a nonexistant customer Ob) prevent a negative markup percentage c) prevent ordering zero pounds of raw materials from a supplier d) ensure that only authorized users have access to data e) ensure formatting includes decimal positions
The examples of integrity constraints are: a) Prevent the creation of an order for a non-existent customer, b) Prevent a negative markup percentage, c) Prevent ordering zero pounds of raw materials from a supplier, and e) Ensure formatting includes decimal positions. All of these are examples of integrity constraints.
In a database, an integrity constraint is a set of rules that limit what can be entered into the database. Integrity constraints assist in ensuring the accuracy and consistency of a database. It is possible to implement the following types of integrity constraints:
Domain Integrity Constraints: Make sure that every column in a database table contains data in the same data type.
Range Integrity Constraints: Check that data falls within a specific range or satisfies a specific requirement.
Entity Integrity Constraints: Guarantee the uniqueness of the data contained in each row of a table, as well as the non-null condition.
Referential Integrity Constraints: Maintains the relationships between tables and ensures that references between them are accurate.
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to attract and retain the best employees and to effectively compete in a global environment, managers need to .multiple choice question.
a.pay the highest salarieseffectively b.manage diversitymaintain c.a homogeneous workforceestablish a vertical organizational structure
Managers need to manage diversity to attract and retain the best employees and effectively compete in a global environment.
What is Diversity management?
Diversity management refers to the practices and activities that companies use to recognize, appreciate, and leverage differences among their employees in terms of age, gender, race, religion, and sexual orientation, among other factors. By accepting and leveraging a variety of opinions and experiences, diversity management can improve business operations and competitiveness.
Diversity management is important because it is based on the assumption that everyone is unique and that individual differences add value to organizational success. Companies should have policies and practices in place that acknowledge diversity and support equality and inclusion for all. By encouraging diversity, businesses can tap into the knowledge, perspectives, and abilities of a wider range of individuals, which can lead to more creative solutions and increased success in a global environment.
Therefore, the correct answer is b.
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Nittany Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1: Units 1,980 Unit Cost $6 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 8 5,040 2,920 4,010 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.) FIFO LIFO Average Cost Ending inventory Cost of goods sold Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item in inventory showed the following: Units 350 Unit Cost $6.00 Transactions Beginning inventory, January 1 Transactions during the year: a. Purchase, January 30 b. Purchase, May 1 C. Sale ($8 each) d. Sale ($8 each) 250 2.90 7.00 410 (110) (650) Required: a. Compute the amount of goods available for sale. b. &c. Compute the amount of ending inventory and cost of goods sold at December 31, under Average cost, First-in, first-out, Last-in, first-out and Specific identification inventory costing methods. For Specific identification, assume that the first sale was selected two- fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. Complete this question by entering your answers in the tabs below. Req A Reg B and C Compute the amount of ending inventory and cost of goods sold at December 31 under Average cost, First-in, first-out, Last- in, first-out, Specific identification of the inventory costing methods. For Specific identification, assume that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Show less Average Cost First-In, First 5 Out Last-In, First- Out Ending inventory Cost of goods sold Specific Identification $ 996 $ 4,699 < ReqA Req B and C)
The average cost of ending inventory is = 4150*6.89
The cost of goods sold is = 68460-28594
What is periodic inventory system?In a periodic inventory system, rather than after every sale and buy, the inventory account is updated at the conclusion of an accounting session. The technique enables a company to keep track of its starting inventory and ending inventory over the course of an accounting session.
Examples of periodic systems include recording beginning inventory and treating all transactions as credits. Businesses instead conduct a physical count at the end and reconcile their accounts based on this rather than recording their unique sales during the period to debit.
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en years ago, elaine paid $10 per share for 2,000 shares of lazlo common stock. this year, elaine learned that lazlo is in bankruptcy and can pay only 40% of its outstanding debt to its creditors. what are the tax consequences to elaine of lazlo's bankruptcy?
Elaine will be subject to tax repercussions due to Lazlo's bankruptcy of $20,000 long-term capital loss. (2000*$10)
By bankruptcy, what do you mean?By selling assets to pay debts or by coming up with a repayment plan, bankruptcy enables those who are unable to pay their bills to start over. Businesses in financial distress are also protected by bankruptcy rules. The legislation and bankruptcy process are explained in this section. When you apply for bankruptcy protection, the court will grant you a discharge, freeing you from the duty to pay back some of your debts to your creditors. As mentioned, once the debt is dismissed, your creditors are prohibited from contacting you or making any sort of effort to collect the bill.
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Credit cards arei. a generally accepted form of payment and therefore part of M1.ii. are included in M1 because you write a check to pay your monthly bill.iii. a means of borrowing money.A.i and iiiB.i and iiC.ii onlyD.i onlyE.iii only
The statement "Credit cards are a means of borrowing money." is true about credit cards. The correct answer is option E. iii only.
M1 is the money supply that includes physical currency and coins, demand deposits, traveler's checks, and other checkable deposits, including negotiable order of withdrawal (NOW) accounts, savings deposits, and other time deposits in amounts of less than $100,000.
Credit cards are a means of borrowing money that falls under a broader category of credit. Credit cards are not included in M1 because you write a check to pay your monthly bill. Instead, credit cards are included in M2 or M3, which are broader categories that include savings deposits, small denomination time deposits, and other relatively less liquid forms of money.
The money supply is divided into three types, M1, M2, and M3. They have different degrees of liquidity and some are broader than others. M1 is the narrowest definition of the money supply, while M3 is the broadest. M1 includes only the most liquid financial instruments, whereas M3 includes all instruments that are not in M1 and M2. The correct answer is option E. iii only.
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income statement which separately reports variable costs from fixed costs is known as a(n) multiple choice question. a.fixed format b.variable format c.standard formatd.contribution format
The income statement that separately reports variable costs from fixed costs is known as a contribution format income statement.
What is an income statement?An income statement is a financial statement that reveals the profitability of a company over a particular period of time. The statement shows the company's revenues, expenditures, net income, and earnings per share (EPS). The income statement is also known as the profit and loss statement (P&L).
What is a contribution format income statement?A contribution format income statement is a financial statement that classifies a company's costs according to their variability rather than their function. As a result, it categorizes expenses into either variable or fixed. This income statement separates variable costs from fixed costs to allow for a more accurate analysis of the cost behavior of the firm.
The contribution margin, or the amount of money remaining after variable costs are subtracted from sales revenue, is also reported on a contribution format income statement. In a contribution format income statement, only variable costs are deducted from sales revenue to arrive at the contribution margin.
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like many consumer products manufacturers, frito-lay offers retailers discounts to encourage them to carry and promote its products. when doing so, frito-lay uses a _____ strategy.
Like many consumer products manufacturers, Frito-Lay offers retailers discounts to encourage them to carry and promote its products. When doing so, Frito-Lay uses a pull strategy.
A pull strategy is a marketing strategy used to attract consumers towards a product or service through promotion and advertising. The purpose of a pull strategy is to make consumers want the product or service and demand it from retailers. A pull strategy differs from a push strategy, which involves pushing a product through distribution channels towards consumers.A pull strategy is often used by consumer product manufacturers, such as Frito-Lay, to promote their products. By offering discounts to retailers, Frito-Lay can encourage them to carry its products and promote them to consumers. This can help create demand for the products and increase sales.Frito-Lay's pull strategy involves offering retailers discounts to encourage them to carry and promote its products. This can help make the products more visible to consumers and create demand for them. The pull strategy is a common approach used by many consumer product manufacturers to promote their products and increase sales.
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