The entries to close "Supplies", "Accounts Payable", "Salaries and Wages Payable", "Unearned Rent Revenue", and "Accumulated Depreciation-Equipment" are not required as they are already zeroed out on the adjusted trial balance after adjustment.
What informs the closing entries?The closing entries for the temporary accounts at August 31 would be:
Date: Aug 31
Account Titles and Explanation: Service Revenue
Debit: $34,610
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Rent Revenue
Debit: $13,200
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Salaries and Wages Expense
Debit: $18,210
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Supplies Expense
Debit: $1,620
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Rent Expense
Debit: $17,241
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Insurance Expense
Debit: $1,250
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Depreciation Expense
Debit: $1,200
Credit: Retained Earnings
Date: Aug 31
Account Titles and Explanation: Dividends
Debit: Retained Earnings
Credit: $2,760
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The complete question goes thus:
The adjusted trial balance for Wildhorse Co. is given below. Prepare the closing entries for the temporary accounts at August 31. WILDHORSE CO. Trial Balance August 31, 2022 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash 10,000 10,000 Accounts Receivable 8,720 9,400 2,850 Supplies Prepaid Insurance 1,230 4,370 3,120 Equipment 15,160 15,160 Accumulated Depreciation-Equipment 3,411 4,611 Accounts Payable 5.190 5,190 Salaries and Wages Payable 0 1,270 Unearned Rent Revenue 1.840 1.070 Common Stock 16.110 16110 Question 2 of 5 < > Accumulated Depreciation Equipment $ $ 3,411 $ 4,611 Accounts Payable 5,190 5,190 Salaries and Wages Payable 0 1,270 Unearned Rent Revenue 1,840 1,070 Common Stock 16,110 16,110 Retained Earnings 5,130 5,130 Dividends 2,760 2,760 Service Revenue 33,930 34,610 Rent Revenue 12.430 13,200 Salaries and Wages Expense 16,940 18,210 Supplies Expense 0 1,620 Rent Expense 17.241 17,241 Insurance Expense 0 1.250 Depreciation Expense 0 1,200 $ 78,041 $ 78,041 $ 81.191 $ 81.191 Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry for the acc Question 2 of 5 -/36 E Prepare the closing entries for the temporary accounts at August 31. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Aug. 31 (To close revenue accounts) Aug. 31 (To close expense accounts) Aug. 31 (To close income/(loss)) Aug. 31 (To dose dividends)
distributive bargaining strategies and tactics are useful when a negotiator wants to maximize the value obtained in a single deal, when the relationship with the other party is not important, and when they are at the claiming-value stage of negotiations.
a. true
b. false
The given statement "distributive bargaining strategies and approaches may be useful when a negotiator wants to maximize the value of a single agreement when the other party's connection is unimportant, and when they are at the claiming-value stage of discussions." is TRUE.
What are Distributive bargaining strategies?When a negotiator seeks to maximize the value of a single agreement, when the other party's connection is unimportant, and when they are at the claiming-value stage of discussions, distributive bargaining strategies and tactics might be helpful.
Distributive bargaining is a form of competitive negotiating in which one side only benefits when the other party suffers a loss.
Distributing fixed resources like money, resources, assets, etc. between the two sides during negotiations is done this way.
Integrative bargaining, also known as interest-based negotiating or win-win bargaining, is a negotiation technique in which the parties work together to resolve their differences in a way that benefits both of them.
Therefore, the given statement "distributive bargaining strategies and approaches may be useful when a negotiator wants to maximize the value of a single agreement when the other party's connection is unimportant, and when they are at the claiming-value stage of discussions." is TRUE.
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Match the types of marketing
efforts to their descriptions:
1. customer-oriented marketing
2. customer value marketing
3. innovative marketing
4. sense of mission marketing
5. societal marketing
Thinking about what's good for
society
Thinking about what customers
want and need
Thinking about the company's and
the product's mission
Thinking about product
improvements and incorporating new
ideas
Thinking about how to improve
value for customers
The goal of marketing is to generate interest in the products or services that your business offers. This is accomplished by marketing, analysis, and comprehension of the interests of your prospective clientele.
Why is marketing important? What is it?The term "marketing" refers to a broad range of actions used to promote and sell your goods and services to consumers. Although advertisement is the most popular marketing technique, it also includes other elements like customer research & product design.
What is a marketing example?It is, in essence, an action made to draw attention to a business's offerings, which may include both physical products for sale and services offered. Advertisements in magazines, posters on the roadside, and television commercials are a few instances of marketing in action.
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Possibility Fish (pounds) || Fruit (pounds)
A 37 || 56
B 31 || 78
C 20 || 90
D 9 || 99
Robinson Crusoe divides his time between catching fish and gathering fruit. Part of his production possibilities frontier is given in the above table. If Mr. Crusoe is on his PPF and he increases the amount of fruit he gathers from 56 to 90 pounds, what is the opportunity cost?
A) 37 pounds of fish. B) 90 pounds of fruit. C) 34 pounds of fruit. D) 17 pounds of fish. E) 31 pounds of fish.
The opportunity cost of a decision is the cost of the next best alternative that must be given up in order to pursue the chosen option.
In this case, the opportunity cost of increasing the amount of fruit gathered from 56 pounds to 90 pounds is the amount of fish that Robinson Crusoe would have to give up in order to produce that additional fruit. If Robinson Crusoe is currently producing 56 pounds of fruit and 37 pounds of fish, he is at point A on the PPF. The production possibilities frontier represents the maximum amount of each good that can be produced given the limited resources and technology available to Robinson Crusoe. Points on the PPF represent efficient combinations of goods that can be produced, while points inside the frontier represent inefficient combinations and points outside the frontier represent combinations that are not possible with the available resources. To move from point A to point C, where he is producing 90 pounds of fruit and 20 pounds of fish, Robinson Crusoe must give up some fish production in order to increase his fruit production. The slope of the PPF represents the opportunity cost of producing one good in terms of the other. The steeper the slope, the higher the opportunity cost of producing one good in terms of the other. In this case, the slope between points A and C is negative, which means that the opportunity cost of producing one additional pound of fruit is increasing. The opportunity cost of increasing the amount of fruit gathered from 56 pounds to 90 pounds can be calculated by finding the change in fish production and dividing by the change in fruit production. In this case, the opportunity cost is (37 - 20) pounds of fish / (90 - 56) pounds of fruit = 17 pounds of fish per 34 pounds of fruit. So, the opportunity cost of increasing the amount of fruit gathered from 56 pounds to 90 pounds is 17 pounds of fish. The correct answer is therefore D) 17 pounds of fish.
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Which of the following are best practices to secure your account using AWS Identity and Access Management (IAM)? Choose 2.answer choicesA) managing access to AWS resourcesB) defining fine-grained access rightsC) Provide users with default administrative privileges.lD) eave unused and unmanaged users and credentials in place.E) avoid using IAM groups to grant the same access permissions to multiple users
Managing access to aws resources, defining fine-grained access rights are best practices to secure your account using AWS Identity and Access Management (IAM).
What exactly does identity and access management (IAM) entail?
In your business, identity and access management (IAM) makes ensuring that the appropriate individuals and job responsibilities (identities) have access to the resources they need to perform their duties.
Your company may control staff apps using identity management and access management tools without having to log in as the administrator to each app.
What exactly is an access control system?
An access management system can be used to manage and track user access permissions and access rights to files, systems, and services to help safeguard businesses against data loss and security breaches.
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To be independent, polite, honest, kind, cheerful, ambitious, self-reliant, and disciplined are all examples of values that describe how we want to achieve our goals in life.
To be independent, polite, honest, kind, cheerful, ambitious, self-reliant, and disciplined are all examples of values that describe how we want to achieve our goals in life. This is a true statement.
What are the two types of values?There are two types of values: Terminal Values and Instrumental Values.
Humans find terminal values to be the most desired, while instrumental values are ideas on how to fulfill such wants.
Instrumental values are opinions about conductor methods that can be used to get the terminal values.
Values are consistent life goals that represent what is most significant to a person.
These are formed during the course of one's life as a result of gathering life experiences, and they usually tend to be very stable.
People's values often have an impact on the choices they make, how they view their surroundings, and the activities they actually engage in.
Therefore, This is a true statement.
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Your question is incomplete, the complete question is;
To be independent, polite, honest, kind, cheerful, ambitious, self-reliant, and disciplined are all examples of values that describe how we want to achieve our goals in life.
Select one:
True
False
You are investing $100 today in a savings account at your local bank. Which one of the following terms refers to the value of this investment one year from now?
A. Future value.
B. Present value.
C. Principal amounts.
D. Discounted value.
E. Invested principal.
Future value refers to the value of an investment at a future point in time, given a certain rate of return. In this case, the value of the $100 investment one year from now would be its future value.
Future value is a financial concept that refers to the value of an investment at a future point in time, taking into account the expected rate of return. It is the amount that an investment will be worth after a specified period of time, assuming a certain rate of interest or growth. Future value is an important consideration for investors, as it provides an estimate of the potential return on an investment. For example, if you invest $100 today in a savings account that earns a 5% annual interest rate, the future value of that investment one year from now would be $105. This calculation takes into account the interest earned on the original investment over the course of one year. Future value calculations can also be used to estimate the future value of annuities, stocks, bonds, and other types of investments. The concept of future value is closely related to the concept of compounding, which refers to the process of earning interest on interest over time.
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True or False? resource owners want to provide resources to businesses with high profit potential because those businesses will pay higher taxes.
Resource owners desire to supply resources to companies with a high potential for profit since they will pay more taxes. This statement is false.
Resource owners typically want to provide resources to businesses with high-profit potential because they will receive higher returns on their investments. Businesses with high-profit potential are seen as more attractive investments because they are likely to generate a higher return on investment, including higher dividends and stock prices.
High profits also indicate a strong financial position, which may make a business more attractive to investors. However, higher profits do not necessarily translate into higher taxes paid by the business. The amount of taxes a business pays depends on the tax laws and regulations in the jurisdiction where the business operates.
Some businesses may be able to legally minimize their tax liability through tax planning strategies, such as claiming deductions or taking advantage of tax incentives.
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Which of the following is most likely to contribute to economic growth as measured by GDP per capita?A. Increased capital formationB. ProductivityC. Industrial RevolutionD. The Industrial Revolution
The correct answer is "B. Productivity."
Economic growth as measured by GDP per capita is largely driven by productivity, which is the measure of how efficiently an economy uses its resources to produce goods and services. Increased productivity results in a higher output of goods and services per unit of input, which in turn increases GDP per capita.
Increased capital formation, such as investment in new machinery, technology, and infrastructure, can also contribute to economic growth by increasing the availability of resources for production. However, this alone does not guarantee increased productivity, as the most important factor for economic growth is how efficiently these resources are used.
The Industrial Revolution was a period of rapid industrialization in the late 18th and early 19th centuries, characterized by new inventions, technological innovations, and improved transportation and communication systems. This led to a significant increase in productivity, which contributed to economic growth as measured by GDP per capita.
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Choose the answer.
Income statement accounts in a chart of accounts are labeled with which of the
following numbers?
100s-300s
100s
600s
400s-500s
The numbers which Income statements in charts of accounts are labeled with are C. 400s-500s
What is a chart of accounts ?The accounts you must utilize to record financial transactions in your general ledger are listed in a chart of accounts (COA). It makes it easier for you to monitor the sources and uses of your money.
The 400s and 500s are typically used for labeling the income statement accounts in a chart of accounts. These accounts include revenues, cost of goods sold, gross profit, operating expenses, and net income (or loss).
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when addressing the value-cabin concept, it is important to focus on the interrelationship between the organization and its more important stakeholder - its _______________ - a customer/producer who is even more extensively integrated into the value chain. As a consequence, production processes will be customized more precisely and individually
The value-chain concept is a critical component of modern business strategy that focuses on the flow of value from the raw materials stage to the final customer.
When addressing the value-chain concept, it is important to focus on the interrelationship between the organization and its most important stakeholder, which is often referred to as the "customer/producer."
This customer/producer is even more extensively integrated into the value chain, and as a consequence, production processes will be customized more precisely and individually.
This individualized approach to production results in a product or service that is tailored to the specific needs and wants of the customer/producer. The focus on the customer/producer is essential to creating a sustainable competitive advantage in the market.
By understanding the needs of this key stakeholder and customizing production processes accordingly, organizations can create products and services that are more valuable and relevant to the customer/producer.
This, in turn, can lead to increased customer satisfaction, loyalty, and repeat business.
In conclusion, focusing on the customer/producer when addressing the value-chain concept is a critical component of modern business strategy that can drive long-term success and growth.
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Persons with high levels of organizational commitment are likely to respond to negative work events by doing which of the following? continuing to do their job; speaking up and sharing their concerns with their manager
When bad things happen at work, people with high organizational commitment levels are more likely to do one of the following: keep working; voice their concerns to their management; or speak up.
When a person is committed to the organization, should that enhance the likelihood that they will react negatively to a work situation with ____ or ?A bad work event should be more likely to result in voice or loyalty if the organization is committed to it. One of the four employee classifications is "Stars," which is based on the level of organizational commitment and task performance.
What unfavorable implications does organizational commitment have?Withholding effort, emotional tiredness, cynicism, and resistance to change are all favorably impacted by dedication to perseverance, but turnover risk is negatively impacted. Normative commitment has a detrimental impact on cynicism and turnover propensity.
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Why is it important for businesses to understand the law of
demand and the market demand schedule ?
It's a visual representation of the law of demand. The demand curve can be a useful tool for businesses because it can show them the prices at which consumers start buying less or more. It can point out prices at which a company can maintain consumer demand and support reasonable profits.
Together with the law of supply, the law of demand helps us understand why things are priced at the level that they are, and to identify opportunities to buy what are perceived to be underpriced (or sell overpriced) products, assets, or securities.
The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Demand curves and demand schedules are tools used to summarize the relationship between quantity demanded and price.
Javier has documents to give to his tax preparer. He had not started his tax return for this year but is a prior client what services do you offer him
Tax preparers will compute, file, and offer assistance to Javier.
What is the role of Tax preparers?The primary objective of these experts is to maximize tax returns for clients while abiding by all relevant rules.
Tax preparers can assist with tax return preparation as well as accounting, bookkeeping, and payroll services. Many tax preparers are employed full-time, part-time, or independently at private businesses or accounting firms. Although most of these specialists are employed year-round, tax season is often their busiest time.
Customer service, financial analysis, data input, and data management abilities are frequently used by tax preparers. Those who are good at problem-solving, communication, and critical thinking may excel in this position.
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which of the following professions require substantial or extensive database skill and knowledge? advertising manager financial planner human resource manager economist
The correct option is D. Economist professions require Substantial or Extensive database skills and knowledge.
The monetary Database in GFD presents facts on employment and the labor force, production and output, money aggregates, worldwide liquidity, the financial zone, and fee indices (consumer, wholesale, and manufacturer). other GFD databases blanketed are trade fees, authorities & Debt, and country-wide bills.
Information has come to be a key input in current monetary manufacturing alongside land, capital, hard work, and oil. It feeds synthetic intelligence algorithms whose predictions power applications from driverless cars to drug testing to credit provision to advert concentrated on. financial records provide an empirical foundation for monetary research, whether descriptive or econometric. information records also are a key input for assessing the replicability of empirical findings and to be used in selection-making as to financial coverage.
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Complete Question:
Which of the following professions require Substantial or Extensive database skills and knowledge?
a. Financial Planner
b. Human Resource Manager
c. Advertising Manager
d. Economist
Question Completion Status:
QUESTION 4
In today's work environment
OA Jobs are becoming far more routine than in past years
OB. The complexity of problems often requires multiple forms of expertise in order to find appropriate solutions
OC.Autonomy and responsibility are far less important to current workers than they were to past generations
OD. All of the above
Jobs are becoming far more routine than in past years.
What are the benefits of working in a positive environment?
Because it makes a difference in whether a firm is successful or not, HR and talent management specialists are extremely aware with the notion of the work environment.
It may be characterised as the setting, social traits, and physical attributes under which individuals perform their task. These factors have an impact on employees' efficiency, relationships with coworkers and leaders, physical and mental health, and overall well-being.
Any sort of work environment must have a certain set of essential components in order to be successful and have a favourable effect on the productivity and contentment of employees.
These components must be present in the methods for managing the climate.
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Hey Brainly! I need help with my personal financial planning homework. My teacher said for us to answer the question: once you make three long-term financial goal, how do these long-term financial goals match with the lifestyle you plan to live? I'm unsure how our financial goals can match with the lifestyle we plan to live. Can someone explain, please?
To fully get a grasp of what your teacher is requesting of you, on your long-term financial goal, let's go straight to the explanation below.
Match Financial Goals & LifestyleYour long-term financial goals should align with the lifestyle you plan to live because they serve as a roadmap for making your financial dreams a reality. Essentially, your goals should reflect your priorities and support the life you want to lead.
For example, if you want to live a comfortable retirement with travel, your financial goals might include saving for a pension, paying off debt, and investing in a diversified portfolio. On the other hand, if you want to live a minimalist lifestyle and focus on experiences, your goals might include paying off debt and saving for experiences such as adventures, workshops, or volunteer work.
The key is to ensure that your financial goals match up with the lifestyle you envision for yourself, so you can work towards a future that is fulfilling and meaningful to you.
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when you turn your financial goal into a smart goal, you should have a dollar amount associated with it.
The given statement "when you turn your financial goal into a smart goal, you should have a dollar amount associated with it" is true because a key characteristic of a SMART goal is that it is quantifiable, meaning it has a specific and measurable target.
A dollar amount is the most common way of quantifying a financial goal, making it specific and easier to track progress toward achieving the goal. By having a dollar amount associated with a financial goal, it becomes more concrete and tangible.
This also helps individuals to budget and plan for the resources needed to achieve the goal, making it more likely to be achieved. The dollar amount can also be adjusted if needed, helping individuals to make course corrections along the way and remain on track toward achieving their financial goals.
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True or false?when you turn your financial goal into a smart goal, you should have a dollar amount associated with it.
Supply chains are one-way relationships showing the flow of products from manufacturers to patients.A. TrueB. False
The given statement "Supply chains are one-way relationships showing the flow of products from manufacturers to patients" is false because supply chains are not one-way relationships, they are complex and dynamic networks that involve multiple stakeholders and relationships.
Supply chains typically show the flow of products from raw materials suppliers, through manufacturers, distributors, and retailers, to the end customers, such as patients.
In a typical supply chain, there are multiple stages of production, each of which may involve different actors, such as suppliers, manufacturers, and distributors. These actors collaborate and communicate with each other to ensure that the right products are delivered to the right place at the right time. In addition, there may also be reverse flows, such as returns, recycling, or repurposing, that are part of the overall supply chain.
Therefore, supply chains are not simple, one-way relationships, but rather complex networks that involve multiple relationships and stakeholders.
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Select all that apply
Which of the following are the main statistics used by economists to assess the health of the economy?
a. nominal gross domestic product
b. unemployment
c. inflation
d. real gross domestic product
The main statistics used to assess the health of the economy are: unemployment, inflation, and real gross domestic product (option b, c, d)
GDP in current prices, without inflation adjustment, is referred to as nominal GDP. Hence, it is not an indicator of economy health.
Inflation is defined as a prolonged increase in overall price levels. Inflation that is moderate is related with economic growth, whereas high inflation can indicate an overheated economy. If economic growth advances swiftly, demand rises even faster, and manufacturers continue to boost prices.
The unemployment rate is a key indicator of economic health. It rises during recessions because businesses are hesitant to hire people when demand for goods and services is low. When the economy is expanding and there is a great demand for items and employees to supply them, it falls.
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Which one of the following is as much a win-lose strategy as competition, although it has a decidedly different image?A) collaborationB) avoidanceC) engagementD) accommodatio
Accommodation is as much a win-lose strategy as competition, although it has a decidedly different image. The goal of both negotiators is normally to obtain or assert the greatest benefit from their bargain. Due to the fact that there is a finite amount to be distributed.
This situation is also known as the "fixed-pie" scenario. Collaboration and accommodation both promote mutual benefit. Short-term, flexible actions known as tactics are used to carry out or pursue long-term strategies. A win-win involves carefully examining your own position as well as that of your counterpart in order to reach a solution that provides you both the most of what you desire.
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The entry to record the issuance of $1 par value common stock to investors for $10 per share in cash results in an increase in ______.A) Additional Paid-in Capital;B) Common Stock;C) Assets;D) Stockholders' Equity;E) Cash
The correct option is E. The entry to record the issuance of $1 par value common stock to investors for $10 per share in cash results in an increase in Cash.
Common stock is a shape of corporate fairness ownership, a form of safety. The terms vote casting share and ordinary proportion also are used regularly outdoors in the usa. they're called fairness shares or ordinary shares inside the united kingdom and different Commonwealth geographical regions. This type of proportion gives the stockholder the right to share in the profits of the company, and to vote on topics of company policy and the composition of the contributors to the board of
administrators.
The proprietors of not unusual inventory do not own any specific property of the employer, which belong to all the shareholders in common. An enterprise may trouble each regular and choice shares, in which case the choice shareholders have priority to receive dividends. within the event of liquidation, regular shareholders acquire any final funds after bondholders, creditors (which include employees), and desired shareholders are paid.
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All Board members have 3 fundamental duties a)duty of care, b)duty of loyalty, c) duty of obedience. If any 2 or more of these duties become in conflict which duty should take precedence over the other(s) and why?
Duty of care should take precedence over the other, Section 174: According to prior case law, directors have a responsibility to use reasonable care, skill, and diligence.
What is the key responsibility of the board of directors?A public company's board of directors is chosen by the shareholders, and its primary responsibility is to uphold the interests of the shareholders. In truth, directors are required by law to put shareholders' interests ahead of their own.
As part of their obligation to obey, nonprofit board members are responsible for ensuring that the organization complies with all applicable laws and regulations, conducts itself in accordance with its own policies, and successfully fulfills its objective.
Thus, Duty of care should take precedence over the other.
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write any five local technology is used in your village explain in brief
Electronic, mechanical, medicinal, industrial and manufacturing, and tool technologies are five examples of different forms of technology.
Mobile devices, laptops, automobiles, and washing machines are a few examples of technology.
Which 5 local technologies are there?Plough. A plough is a farming implement that utilizes the strength of an ox, bull, or buffalo.Watermill. The watermill engine operates on the kinetic energy to mechanical energy conversion principle.Water pump (Dhiki pump).An apparatus for breaking oil seeds (Kol)What are the applications of local technology and how important are they?The ability of local technology to be tailored to a user's demands is its significance. It enables the user to benefit from the available technology. Localized technology is therefore more cost-effective because it can be tailored to a company's or organization's demands.
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You work at a restaurant/bar.Your boss comes to you, knowing you are studying economics, and asks for your opinion on the following question:Which of the following would increase the demand for drinks the most?a. a reduction in the price of a complementary good such as an appetizerb. a reduction in the price of drinksc. both.
The demand for drink will increase if the price of a complementary good decreases (A).
Complementary goods are goods which are used together with another goods and act as the complement of the primary goods. Complementary goods have a joint demand which when the price of the complementary goods decreases, the joint demand of both the primary and complementary goods will increase.
In this case, drink's complementary goods include an appetizer or snack food. When a restaurant aims to increase the demand of drink, it will be more beneficial to reduce the price of the complementary goods or those snacks and appetizers.
Reducing the drink's price is also a possible option to increase the quantity demanded. However it is a risky move since it can affect the total profit earned by the bar because of the lower drink price. To avoid this risk, reducing the complementary goods is a better option.
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An insured may only add Utility Interruption coverage to her Equipment Breakdown policy if at least one of three other coverages are also present. Which of the following is NOT one of these other coverages? A. Business Income and Extra Expense B. Extra Expense Only C. Spoilage Damage D. Property Damage,
The Income and Extra Expense is not one of these other coverages.
What is an expense?An expense is an outflow of money incurred in the process of running a business or household. It is the cost of goods or services that are used to produce income or sustain daily life. Expenses can be classified into different categories such as operating expenses, capital expenditures, indirect expenses, and direct expenses. Operating expenses include costs associated with the daily operations of a business such as rent, utilities, and salaries. Capital expenditures are long-term investments such as purchasing a building or equipment. Indirect expenses are those that are not directly related to the production of goods or services, such as advertising and office supplies. Direct expenses, on the other hand, are directly related to the production of goods or services, such as raw materials and labor costs. In summary, an expense is a necessary cost incurred in the pursuit of generating revenue or living life.
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A Plant was purchased on 1st July, 2015 at a cost of Rs 3,00,000 and Rs 50,000 were spent on its installation. The depreciation is written off at 15% p.a. on the straight-line method. The plant was sold for Rs 1,50,000 on October 01, 2017 and on the same date a new Plant was installed at the cost of Rs 4,00,000 including purchasing value. The accounts are closed on December 31 every year.
Show the machinery account and provision for depreciation account for 3 years
Answer:
Explanation:
Here's the machinery account and provision for depreciation account for the 3 years:
Machinery Account:
2015
July 1 Dr. To Bank 3,00,000
Cr. To Plant 3,00,000
October 1 Dr. To Plant 50,000
Cr. To Cash 50,000
2016
December 31 Dr. To Provision for Depreciation 45,000
Cr. To Plant 45,000
2017
October 1 Dr. To Cash 1,50,000
Cr. To Plant 1,50,000
October 1 Dr. To Bank 4,00,000
Cr. To Plant 4,00,000
December 31 Dr. To Provision for Depreciation 60,000
Cr. To Plant 60,000
2018
December 31 Dr. To Provision for Depreciation 60,000
Cr. To Plant 60,000
Provision for Depreciation Account:
2015
December 31 Dr. To Provision for Depreciation 45,000
Cr. To Depreciation Expense 45,000
2016
December 31 Dr. To Provision for Depreciation 45,000
Cr. To Depreciation Expense 45,000
2017
December 31 Dr. To Provision for Depreciation 60,000
Cr. To Depreciation Expense 60,000
2018
December 31 Dr. To Provision for Depreciation 60,000
Cr. To Depreciation Expense 60,000
Consider an organization you were/are currently involved with. After providing a short overview of your organization, reflect on the Seven Levels of an Ethical Organization, found in the Gebler article and slide deck, and write a paper answering the following questions (not more than three pages - format of your choosing):
•What are the focus areas of your organization? For example, is your organization focused solely on the pursuit of a profit, or is it focused on corporate citizenship and stewardship, or somewhere in between?
•How do these focus areas relate to the Seven Levels of an Ethical Organization? What level(s) is your organization operating at?
•What challenges or opportunities does this present when leading Project Teams?
In terms of the focus areas of an organization, it can range from solely pursuing profit to incorporating corporate citizenship and stewardship into its operations.
The Seven Levels of an Ethical Organization, as outlined by Gebler, provides a framework for understanding and evaluating the level of ethics within an organization. The levels range from Level 1: Compliance to Level 7: Transformational, with each level building upon the previous one and incorporating increasingly higher levels of ethical behavior and responsibility.
An organization that is solely focused on the pursuit of profit would likely be operating at Level 1 or 2, where the primary focus is on meeting legal requirements and avoiding negative publicity. On the other hand, an organization that places a strong emphasis on corporate citizenship and stewardship would likely be operating at Level 6 or 7, where the primary focus is on creating positive social impact and contributing to the well-being of society.
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underapplied or overapplied overhead is the blank . multiple choice question. same as actual overhead sum of overhead applied to jobs and actual overhead difference between overhead applied to jobs and actual overhead total overhead applied to work in process
The underapplied or overapplied overhead is the sum of overhead applied to jobs and the actual overhead.
What is actual overhead?Actual overhead refers to the actual costs incurred in the production process that are not directly tied to the cost of the final product. It includes indirect costs such as indirect labor, indirect materials, indirect expenses, and indirect taxes. These indirect costs cannot be traced directly to a particular product, but are still necessary for the production process to occur. Actual overhead is calculated by adding up all the indirect costs incurred during the production process. This information is then used to determine the cost of the final product. It is important to accurately calculate actual overhead as it helps businesses to identify areas where they can reduce costs and increase efficiency. This information also helps in pricing products, determining profit margins, and making informed business decisions.
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Given the following declarations:int age = 30;double salary = 25000 ;which one of the following is a valid assignment statement?-age = salary / 100;-salary = 100 * age;-age = salary - 10000;-age = salary * age;
Given the declarations above, only the statement age = salary - 10000 is a valid assignment statement. This statement will assign the value of salary minus 10000 to the age variable.
When assigning values to variables, it is important to remember the data types of the variables. In the given declarations, both age and salary are of type int and double, respectively. This means that any statement that mixes these two types, such as age = salary * age, is not valid since it would cause a type mismatch error.
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When two goods are substitutes, a shock that raises the price of one good causes the price of the other good to:
a. remain unchanged
b. decrease
c. increase
d. change in an unpredictable manner
The price of one good causes the price of the other good to: c. increase
When two items are interchangeable, the demand for one good increases when the price of the other good rises. A change in one commodity's price is likely to result in a change in the demand for the other good if the two goods are connected in a way that makes them complements or substitutes in consumption. The cross-price elasticity of demand measures the impact of a change in demand when the price of a related item changes.
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