The creation of the tomfoolery utilizes the cash account and the negligible cash reserve account.
negligible asset 500 charge
cash 500 credit
--to record creation of the asset -
store supplies 360 charge
miscellaneous cost 40 charge
cash shortage misfortune 15 charge
Cash 415 credit
--to record recharging of the bond- -
The creation of the tomfoolery utilizes the cash account and the negligible cash reserve account.
Then at recharge the company will credit cash not the frivolous cash reserve. As the unimportant asset will have 500 dollars again after replenishement.
Then, it will charge the reason for the cash outlow in this case; supplies, miscellaneous and shortage misfortune.
to know more about credit click here:
https://brainly.com/question/13964348
#SPJ4
the complete question is:
Petty Cash Fund Prepare journal entries for each of the following: a. Issued a check to establish a petty cash fund of $500. If an amount box does not require an entry, leave it blank. b. The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360 and miscellaneous selling expense, $40. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank.
showrooming involves searching for a product online to compare prices and then going to a physical store to buy it. true or false
The given statement "Showrooming involves searching for a product online to compare prices and then going to a physical store to buy it" is true because it describes the practice of using physical stores as a showroom to examine products before purchasing them online at a lower price.
Showrooming is an increasingly popular consumer practice wherein customers visit a physical store to view and test products before purchasing them online from a different retailer.
By comparison shopping online, customers can often find the same product for a lower price, enabling them to save money. Showrooming has become increasingly popular with the rise of the internet and mobile technology, as customers are now able to easily access product reviews and compare prices from the comfort of their own homes.
The practice has become a major concern for brick-and-mortar retailers, as it has significantly impacted their sales. However, some retailers have begun to embrace showrooming as a way to generate more in-store traffic and increase sales.
For more questions like Showrooming click the link below:
https://brainly.com/question/14988432
#SPJ4
include a number of different groups that an organization must appeal to, such as customers, investors, employees, and communities. group of answer choices stockholders stakeholders employees trustees
An organization must appeal to a number of different groups, such as customers, investors, employees, and communities. These groups are referred to as stakeholders. Here option B is the correct answer.
Stakeholders are individuals, groups, or organizations that have an interest or concern in an organization's ability to achieve its goals. They can impact, or be impacted by, the organization's actions and decisions, and therefore must be considered in the organization's decision-making process.
Some common stakeholders in organizations include Customers: Those who purchase the organization's products or services. Investors: Those who have invested in the organization, either by buying stocks or providing loans. Employees: Those who work for the organization and are responsible for its success.
Communities: The local, regional, and national communities in which the organization operates and which can be impacted by its actions.
Complete question:
Include a number of different groups that an organization must appeal to, such as customers, investors, employees, and communities. group of answer choices
A - stockholders
B - stakeholders
C - employees
D - trustees
To learn more about stakeholders
https://brainly.com/question/28625232
#SPJ4
How do you calculate minimum tax payable?
Less than 15% of its book profit plus the surcharge (SC) plus the health and education cess is what the Income Tax Act provisions for any given year need.
What does "minimum tax" refer to?In situations where the regular tax is lower than the minimum tax rate, the taxpayer is subject to a minimum tax. For certain transactions, tax that is deducted or collected at source is classified as minimum tax.
How much is mat in terms of income tax?The MAT clause, which is for companies and is found in the direct tax legislation, limits the tax exemptions that companies may use. The clause mandates that the business must pay the government at least the required minimum amount of tax and cannot receive any further exemptions.
To know more about minimum tax visit:
https://brainly.com/question/28199802
#SPJ4
your journal why is it important to create a budget even if you don’t get a lot of money or if you have an irregular income?
Your budget should make it easier for you to quickly determine how much money you have to spend on things like housing, electricity, and food.
A journal budget can also help you maximize your capacity for saving money for the future. Having a budget will help you make sure you can pay all of your bills. Freelancers, salespeople, contract workers, and others may survive off of sporadic pay because not everyone has a consistent income.
Unpredictability can put undue stress on people. However, by using the proper budgeting technique, you can reduce your stress levels and develop a workable strategy for controlling your monthly expenses despite fluctuations in your income. Having a budget will help you make sure you can pay all of your bills.
Learn more about journal Visit: brainly.com/question/28610274
#SPJ4
production inefficiency occurs part 2 a. either when an economy produces underneath the production possibility frontier or when the economy is producing the wrong combination of goods on the production possibility frontier. b. only when an economy produces at the wrong point on the production possibility frontier. c. only when an economy produces underneath its production possibility frontier. d. only when the economy produces outside the production possibility frontier.'
The correct option is c. Production inefficiency occurs only when an economy produces underneath its production possibility frontier.
This means that the economy is not producing enough of one or more goods to reach its full potential output. This can occur due to a lack of resources, technology, or skills, or simply due to a misallocation of resources.
When this ineffeciency occurs, the economy is not producing the optimal combination of goods and services at the highest level of output. Therefore, it is not producing at its full potential, and output is lower than it could be.
This can lead to an increase in prices, a decrease in the quality of goods and services, and a decrease in economic growth. Inefficient production is a major problem for any economy, and can lead to long-term economic issues if not addressed.
To learn more about production , click here:
https://brainly.com/question/22852400
#SPJ4
Choose the best option to complete each of the following sentences.Kathy and Clancy returned application forms promptly.Without increasing employee out-of-pocket expenses, the firm was able to offer extended dental coverage. pleased the employees.Did Sam indicate that he and had completed the proposal?The advisory board released recommendation regarding the expansion plan.
Kathy and Clancy returned the application forms promptly, pleasing the employees. The firm was able to offer extended dental coverage without increasing employee out-of-pocket expenses.
Sam indicated that he and the team had completed the proposal. The advisory board released a recommendation regarding the expansion plan.
In the first sentence, the prompt return of the application forms by Kathy and Clancy is described as pleasing to the employees. The second sentence highlights the firm's ability to offer extended dental coverage without causing financial burden to the employees.
In the third sentence, the speaker states that Sam indicated the completion of the proposal by him and the team. The last sentence mentions the release of a recommendation by the advisory board regarding the expansion plan.
To know more about dental coverage click on the link below:
https://brainly.com/question/4534709#
#SPJ11
Indicate whether each account has a normal debit or credit balance. Debit Credit Retained Earnings Rent Expense Equipment Dividends
There is frequently a credit balance in the retained earnings account. This figure shows how much money a business has made overall during the course of its existence. Since dividends are paid from this account, even for a financially solid company, the retained profits amount may still be quite low.
Since retained earnings are listed as shareholder equity on the balance sheet, they constitute a credit account. As a result, a credit entry is made for an increase in retained earnings.
Is there a credit balance for rent?As a result, rent expense is a debit rather than a credit. The cost of rent is one that is recorded as an expense on the company's income statement and is calculated as an actual cost for the month, quarter, or year that it was incurred. It is displayed as a debit balance on the balance sheet.
Rent expense is a debit in accounting since it is an example of an expense. According to the debit and credit rules, all costs are referred to be debit accounts since a debit entry is used to journalize the growth in their worth.
Do dividends always result in a debit?It would be an equity account for dividends with a typical DEBIT balance (meaning, debit will increase and credit will decrease).
A typical balance, which is a debit item, is also present for dividends given to shareholders. Liabilities, equity (including common stock), and revenues all increase with a credit, therefore a credit is their "normal" balance.
Learn more about Retained Earnings: https://brainly.com/question/14529006
#SPJ4
an electric company agrees to receive $500 every 6 months for the next 5 years in return for services performed. if these payments are invested at an annual rate of 2.50%, how much will the firm have by the end of 5 years?
The total amount that the firm will have at the end of 5 years if the payments are invested at an annual rate of 2.50% is $6,274.37.
This is calculated by multiplying the payment of $500 by 10 (for 10 payments over 5 years) and then multiplying the result by 1.025^5 (for the compounded interest at the given rate).
Compounding interest is a great way to grow your money over the long-term, but it also has its drawbacks. It is important to remember that compounding interest works both ways. If you are earning interest, you are also paying interest on any debts you have.
Additionally, the rate of return that you can earn on an investment is often lower than the actual rate of inflation, meaning that your money may not actually be growing in real terms.
Learn more about Compounding interest:
https://brainly.com/question/28020457
#SPJ4
Suppose the price of a pound of flax seed in West Virginia is currently $1. 0. The law of one price suggests that because the price of a pound of flax seed is $1. 20 in Kentucky, the price of a pound of flax seed will be ___________ in West Virginia after sellers adjust their supply in both markets
The law of one price suggests that because the price of a pound of flax seed is $1. 20 in Kentucky, the price of a pound of flax seed will be equal to $1.20 in West Virginia after sellers adjust their supply in both markets.
Markets refer to the places or platforms where goods and services are bought and sold between buyers and sellers. These can be physical locations such as street markets or malls, or virtual platforms such as online marketplaces. In a market, supply and demand determine the prices of goods and services, and buyers and sellers negotiate to reach a mutually beneficial agreement.
Different markets may specialize in specific goods or services, such as stock markets for stocks and bonds or commodity markets for raw materials and agricultural products. Effective functioning of markets depends on the availability of information, the presence of competition, and the absence of external constraints such as government regulations or monopolies. Markets play a crucial role in the allocation of resources and the growth of economies.
To learn more about Markets visit here:
brainly.com/question/17284274
#SPJ4
what organizational buyers could be part of the industrial market?
Buyer organizations in industrial markets refer to companies and organizations that buy goods and services for use in their own production processes or for resale.
Buyer organizations, also known as purchasing organizations, are entities or groups of individuals who are responsible for procuring goods and services to meet the needs of the companies or organizations they represent. These organizations are responsible for sourcing, negotiating and purchasing products and services from suppliers, as well as managing the supply chain and ensuring timely delivery of products and services. The primary goal of a buying organization is to ensure that the company or organization it represents receives the right product or service at the right time, at the right price, and of the right quality.
You can learn more about Buyer organizations here brainly.com/question/4048539
#SPJ4
davis construction, based in the united states, hesitates to enter into a joint venture with kaza limited, a brazilian company, due to inadequate protection of intellectual property rights. davis construction is trying to avoid what type of risk?
Davis construction is trying to avoid the legal type of risk as their was inadequate protection of intellectual property rights.
Legal risk is a term used to describe a form of harm that could be done to a business as a result of a legal problem. A company may face when engaging in international businesses. We can infer from the excerpt above that Central Corporation is concerned that Fission will violate a contract or take property without permission. A breach of contract is a legal concern that may prevent Central from receiving its fair part of the operation's profits. An example of an appropriate property right is when a foreign law compels a firm to hand over ownership of a property right to the government.
To learn more about risk visit,
https://brainly.com/question/27754423
#SPJ4
Green Day Golf Distributors is a relatively small, privately held golf distributing company that operates in the Midwest and handles several product lines, including shoes, clothing, and golf clubs. It sells directly to golf shops and does not sell to the big retailers. It has approximately $8 million in sales and wants to grow at about 20% per year for the next five years. It is also considering a takeover or a merger with another golf distributorship that operates in the same region.
What are the factors that Green Day might consider in deciding whether to seek an audit from a large national audit firm, a regional audit firm, or a local firm?
They ought to take an audit opinion from a huge nationalized review firm in light of the accompanying elements:
1) Getting examined by a rumored firm gives it a decent brand name.
2) Getting examined by a rumored firm stands out for possible financial backers.
3) The organization needs to converge with other potential reviewing firms. A review of their records by a major firm will give them the influence to do as such.
4) A rumored auditing firm notable for its quality examining strategies can work on the organization's inner control.
The goal of a review of audit summaries is to empower the examiner to offer a viewpoint on whether the fiscal summaries are ready, in all material regards, as per a relevant monetary revealing system.
Learn more about audit firm:
https://brainly.com/question/17138829
#SPJ4
describe the information age and the differences between data, information, business intelligence, and knowledge.
The Information Age refers to the current era in human history characterized by the widespread availability and use of digital information.
The Information Age began in the late 20th century with the development of computers, the Internet, and other digital technologies. These technologies have revolutionized the way we communicate, process, and access information.
Data refers to raw, unprocessed facts and figures. Data can be anything from numbers, letters, and symbols, to images and videos. It can be collected from various sources, including surveys, experiments, and observations.
Information is data that has been processed and organized into a meaningful form. Information provides context and understanding to raw data, making it useful for decision-making.
Business Intelligence (BI) refers to the use of data, information, and knowledge to support and inform business decisions. BI involves collecting and analyzing data from various sources, such as customer transactions, sales data, and market trends, to gain insights into the performance and health of a business.
Knowledge refers to an understanding or expertise in a specific subject or area. Knowledge is created through the interpretation and analysis of data and information. It is often based on experience and can be applied to solve problems and make decisions.
In conclusion, the Information Age has changed the way we process and access information. Data, information, business intelligence, and knowledge all play different but crucial roles in the use and management of information. Data provides raw facts and figures, while information provides context and understanding to raw data. Business intelligence uses data and information to inform business decisions, and knowledge is an understanding or expertise gained through experience and analysis.
Learn more about Information:
https://brainly.com/question/13629038
#SPJ4
Mary Watson, a resident of Shawnee County, Kansas, wishes to bring an invasion of privacy lawsuit against Snowball, Inc., because the company used a photograph of her, without her consent, in an advertisement for one of its products. The photograph was taken while she was hiking in the mountains of Colorado. Watson will ask for damages of $100,000 from Snowball, a corporation located in Summit County, Colorado. The ad was published in a Denver newspaper. Snowball also placed the ad on its website that is accessible by anyone with Internet. Mary comes to you for advice. How would you answer the following questions?
a) If Mary wants to file in state court, in which state or states is jurisdiction proper? Explain. Be sure to address the two most obvious possibilities and state whether jurisdiction is proper there.
Mary can file the lawsuit in either Kansas or Colorado, as both states have jurisdiction over the case.
Jurisdiction refers to the authority of a court to hear a case and make a decision. In this case, there are two most obvious possibilities for where Mary can file the lawsuit: in Shawnee County, Kansas (where she resides) or in Summit County, Colorado (where Snowball, Inc. is located and where the ad was published).
Under the legal principle of "long-arm jurisdiction," a state may exercise jurisdiction over a non-resident defendant if the defendant has sufficient minimum contacts with the state. In this case, Snowball, Inc. published an advertisement in a Denver newspaper and placed the ad on its website that is accessible by anyone with the internet. These actions create minimum contacts with Colorado, meaning Colorado has jurisdiction over Snowball, Inc.
Similarly, Kansas may also have jurisdiction over Snowball, Inc. under the "long-arm jurisdiction" principle if the publication of the ad caused harm in Kansas. Mary, who resides in Shawnee County, Kansas, is alleging that her privacy was invaded in Kansas as a result of the advertisement, which gives Kansas jurisdiction over the case.
To know more about jurisdiction here:
https://brainly.com/question/14179714#
#SPJ11
A business settles a liability by making a payment with cash. How does paying this liability affect the accounting equation?
Paying a liability in the cash affects the accounting equation by decreasing the total assets and increasing the total liabilities in any business. This is because when a business pays a liability with cash, the cash asset is reduced and the related liability is eliminated.
Assets - Cash = Liabilities - Liability + Equity
As the accounting equation states, assets must always be equal to liabilities plus equity, so when the one side of the equation changes, the other must also change in order to balance the equation. In this case, the asset side of the equation will decrease and the liability side will increase, keeping the equation in balance.
To know more about accounting equation click here
https://brainly.com/question/14689492
#SPJ4
in the walmart case involving immigrant labor, a. the u.s. government alleged that walmart knowingly hired illegal immigrants from mexico, eastern europe, and other countries. b. several walmart stores were permanently closed as a result. c. walmart settled the case and thus experienced a large financial loss for the year. d. walmart was used as an example of fairness and compliance with both the letter and spirit of the law regarding immigrants.
Option a is Correct. The United States government claimed that Walmart deliberately hired illegal aliens from nations like Mexico, Eastern Europe, and others in the Walmart lawsuit involving immigrant labor.
A rule mandating employees to speak exclusively English at all times in the workplace is considered an onerous term and condition of employment under EEOC Regulation 29 C.F.R. 1606.7(a). A rule of this nature is thought to be against Title VII of the Civil Rights Act of 1964.
The following is accurate on the treatment and access of Hispanics? Hispanics are the target of blatant patterns of access and treatment discrimination, according to research. -adverse managerial decisions and a lack of supervision, in part.
Learn more about Walmart Visit: brainly.com/question/28280184
#SPJ4
what is the apr if a bank pays 0.3 interest monthly on savings
The annual percentage rate (APR) for a bank that pays 0.3 monthly interest on savings is 3.6%. This can be calculated by multiplying the monthly rate (0.3) by 12 to give you the annual rate (3.6).
APR = monthly interest * 12
APR = 0.3 * 12 = 3.6
The APR is the total amount of interest the customer pays on the loan or earns on the account over the course of a year. It is expressed as a percentage of the principal. The APR is considered more accurate than the stated interest rate because it reflects the total cost of the loan per year, including any additional fees or charges.
To know more about APR click here
https://brainly.com/question/14184570
#SPJ4
if auditors conducting attributes sampling found that the entity deviated from a prescribed control in nine of the first 10 items examined, the auditor is most likely to:
The auditor is most likely to stop the test and increase the control risk.
Political, security, and integrity risk are the areas of expertise of Control Risks, a global risk and strategic consulting organization. In 1975, Control Risks was established as a specialized advisor to the insurance sector. The company, a division of insurance broker Hogg Robinson, sought to reduce its exposure to payouts for kidnapping and ransom. Before becoming independent in 1982 as a result of a management buyout, the firm's capabilities were strengthened when political and security risk analysts joined these crisis management and incident response specialists. Control risk refers to the possibility that a substantial misstatement resulting from fraud or error in an assertion, either alone or in conjunction with other material misstatements, won't be promptly prevented or discovered by the company's internal control.
To learn more about Control Risks click here
brainly.com/question/29782350
#SPJ4
This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $72,300 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows: Cost of moving his possessions to the city (125 miles away) $ 1,200 Interest paid on accumulated student loans 2,800 Cost of purchasing a delivery uniform 1,400 Contribution to State University deliveryman program 1,300 Calculate Evan's AGI and taxable income if he files single.
Assume that interest payments were initially required on Evan's student loans this year
The charitable gift would qualify as an itemised deduction, but Evan would opt for the standard deduction instead because it is greater ($12,200) than the total of his charitable contributions ($1,300).
Evan's AGI: $71,000
Taxable Income: $58,800
Salary $ 72,300
Part-time hourly pay + 700
Modified AGI (for student interest) =$ 73,000
Student loan interest deduction − 2,000
AGI =$ 71,000
Standard deduction − 12,200
Taxable income =$ 58,800
Moving and uniform costs incurred by Evan are not tax deductible. Evan's modified AGI is $3,000 over the $70,000 cutoff point for calculating the deductibility of his student loan interest.
A phase-out applies to his college loan interest deduction. Before the phase-out, Evan can deduct up to $2,500 (plus the amount of interest paid, which is $2,800). The maximum deduction of $2,500 is phased out by 20% when the ratio is $3,000/$15,000. Therefore, Evan can write off $2,000 in interest on his student loans ($2,500 x $500). Evan's AGI is therefore $71,000.
The charitable gift would qualify as an itemised deduction, but Evan would opt for the standard deduction instead because it is greater ($12,200) than the total of his charitable contributions ($1,300).
To know more about loans, visit:
https://brainly.com/question/20688650
#SPJ4
according to candace sladlace, camp bow wow's manager, being a manager takes a lot of effort and it involves:
According to candace sladlace, camp bow wow's manager, being a manager takes a lot of effort and involves working on your own people skills.
According to the conventional definition, a manager is only someone who coordinates the efforts of others. Simply, managers coordinate the efforts of others to accomplish goals. Managers in the modern workforce could be in charge of particular systems or tasks that don't involve people.
The manager's main responsibility is to coordinate the efforts of all team members and provide the finest outcomes possible to assure the organization's expansion. To get the greatest performance out of the workforce, managers have a variety of duties and obligations.
To learn more about managers
https://brainly.com/question/29023210
#SPJ4
Jamie is employed as a commercial loan officer for a regional bank centered in the Midwestern section of the U.S. Her job falls into which one of the following areas of finance?
a. International finance
b. Financial institutions
c. Corporate finance
d. Capital management
e. Investments
Jamie's job as a commercial loan officer falls under the category of financial institutions.
Financial institutions are organizations that provide financial services to individuals and businesses, including the granting of loans. Commercial loan officers like Jamie work within banks and other financial institutions to evaluate loan applications and make credit decisions. They assess the creditworthiness of loan applicants and determine the risk involved in lending money to a particular individual or business. This is an important aspect of the banking industry as it ensures that the bank's funds are being loaned out in a responsible manner and with a good chance of repayment. Overall, Jamie's job as a commercial loan officer is an integral part of the financial institutions sector and plays a crucial role in the lending process.
Learn more about commercial loan here: brainly.com/question/27380105
#SPJ4
Question: The Slope Of The Production Possibilities Frontier Describes What? The Efficient Production Of Two Goods How Much People Are Willing To Pay For The Good The Opportunity Cost Between Two Goods The Allocation Of Scarce Resources In The Production Of Two Goods
For the purpose of determining comparative advantage, the opportunity cost of producing one good in comparison to another good is indicated by the slope of the PPF.
What is The Production Possibilities Frontier?The Production Possibilities Frontier (PPF) is a graph that displays all the possible output combinations of two items that can be produced given the resources and technology currently available. The ideas of choice, scarcity, and tradeoffs are all represented by the PPF.Whether costs are increasing, reducing, or staying the same will affect the PPF's form.The PPF's points serve as examples of combinations of output that are both productive and efficient. Without having knowledge of preferences, it is impossible to establish which locations are allocatively efficient.For the purpose of determining comparative advantage, the opportunity cost of producing one good in comparison to another good is indicated by the slope of the PPF.
To Learn more About PPF Refer TO:
https://brainly.com/question/27977750
#SPJ4
toybox, inc., manufactures the spintop, a toy that the company discovers can cause harm. before anyone is injured, anne, a pediatric nurse who has not purchased a spintop, files a suit against toybox, inc. in seeking to have the suit dismissed, toybox, inc., best argument is that anne does not have a. jurisdiction. b. certiorari. c. judicial review.
Option a is Correct. Toybox, Inc.'s greatest defense in trying to get the case dismissed is that anne doesn't have jurisdiction.
A jurisdiction is a geographical area with a unique set of laws that are governed by a court system or other government body. Any dispute between the Government of India and one or more States, between the Government of India.
The spintop, a toy that the firm learns can be dangerous, is made by toybox, inc. Before anyone gets hurt, anne, a pediatric nurse who hasn't bought a spintop, sues toybox, Inc. Any state or states on one side and one or more states on the other, or between two or more states is subject to its exclusive original jurisdiction.
Learn more about manufactures Visit: brainly.com/question/13440987
#SPJ4
Which of the following masters level accounting tracks at UGA consists of viewing the work of others to determine if the output is "free of material errors"? planning, directing, controlling, edit.
In a sensible sense, the predominant objective of monetary accounting is to accurately prepare an organization's monetary bills for a unique period, otherwise known as financial statements.
The three essential economic statements are the income statement, the balance sheet and the assertion of money flows.
Which of the following lists all phases of the commercial enterprise cycle accounting?The 4 levels of the enterprise cycle are expansion, peak, contraction, and trough
Relevance and faithful illustration are viewed to be critical qualitative characteristics of accounting information. Relevance suggests the significance of the facts in terms of enterprise and the have an impact on of the records on the business.
Learn more about financial accounting here:
https://brainly.com/question/30363255#SPJ4Explain through a diagram the effect of a rightward shift of both the demand and supply curve on equilibrium price and quantity.
The equilibrium quantity rises when both the supply and demand curves move to the right, but the equilibrium price can fluctuate depending on how much the two curves move in different directions.
What consequences does the demand curve's rightward shift have?If the determinant raises demand, the curve moves to the right. This indicates that even while the price remains the same, there is a greater demand for the commodity or service. The incomes of consumers will increase as the economy is flourishing.
What impact do changes in supply and demand have on price?When demand increases while supply remains constant, the demand curve tends to move to the right. The equilibrium price is eventually impacted by a product's rising demand. Because of this, the price of a product also increases as a result of more buyer competition.
To Know more about equilibrium
https://brainly.com/question/28527601
#SPJ4
why do you suppose john stossel claims that an economy of free decisions leads to more people benefitting?
Efficiency, output, and innovation are all boosted in a market economy. Monopolies, a lack of government interference, subpar working conditions, and unemployment are some of the drawbacks of a market economy.
It promotes economic expansion and transparency. Market competition is ensured. In that their choices decide which goods or services are in demand, consumers' opinions are heard. Supply and demand spur competition, which makes it more likely that customers will receive the finest products or services at the lowest possible cost.
The ability for both the buyer and the seller to choose how they communicate is the main benefit of a free market. Customers have a lot of freedom in how they spend their money because to minimal government control. They can therefore base their purchases on what they require and desire.
Learn more about economy Visit: brainly.com/question/1106682
#SPJ4
Tanner service company reported an annual sales revenue of $560,000 in 2019. During the year, accounts receivable decreased from a beginning balance of $22,500 to an ending balance of $18,800. Accounts payable decreased from a beginning balance of $15,200 to an ending balance of $13,600. Assume that all sales were made on account. How much is cash received from customers for the year?.
$556,300 in cash was taken in from clients during the year.
For the year, money was received from customers.
= Profit from Sales (Starting Accounts Receivable - Finishing Accounts Receivable)
= $560,000 - ($22,500 - $18,800)
= $560,000 - $3,700
= $556,300
The amount of money a business earns through the sale of goods and services over the course of a particular year is referred to as annual revenue.
Before any reductions for the cost of the goods you sold or business expenses, annual income is the sum of all sales.
On income statements, annual revenue is sometimes referred to as "sales," and on your business tax form (Schedule C if you're a sole proprietor), it's "gross receipts or sales."
To know more about the Annual Revenue visit:
https://brainly.com/question/20361757
#SPJ4
a primary purpose of adjusting entries is to record events that
Adjusting journal entries are used to record transactions that have occurred but have not yet been appropriately recorded in accordance with the accrual method of accounting.
Adjusting journal entries are used to record deals that have passed but haven't yet been meetly recorded in agreement with the addendum system of account.
Adjusting journal entries are recorded in a company's general tally at the end of an account period to abide by the matching and profit recognition principles.
The most common types of Adjusting journal entries are supplements, detainments, and estimates.
It's used for addendum account purposes when one account period transitions to the coming.
Companies that use cash account don't need to make Adjusting journal entries.
To know more about Adjusting journal entries, visit: brainly.com/question/29341440
#SPJ4
Which TWO statements correctly describe Oracle Cloud Infrastructure Service Level Agreements?
A) Financially backed commitment to provide a maximum level of service to customers.
B) Defined as a number of eights for a week and a percentage credit.
C) Defined as a number of nines for a week and a percentage credit.
D) Defined as a number of nines for a month and a percentage credit.
E) Financially backed commitment to provide a minimum level of service to customers.
F) Defined as a number of eights for a month and a percentage credit.
The two correct statements that describe Oracle Cloud Infrastructure SLAs are Option C and Option E.
C) Defined as a number of nines for a month and a percentage credit: This statement is correct as the SLA defines the availability of the service as a percentage of total time in a given month and a credit is provided to the customer if the service falls below the defined level.
E) Financially backed commitment to provide a minimum level of service to customers: This statement is also correct as the SLA is a financially backed commitment from Oracle to provide a minimum level of service to its customers. This means that if the service falls below the agreed upon level, customers may receive a credit or refund.
To read more about Oracle Cloud Infrastructure, visit- https://brainly.com/question/28105068
#SPJ11
You are a Consulting senior and recently assisted the Stallion audit team with procedures over a specific account as part of their annual audit. Your time incurred for the audit was 20 hours. Are you a covered person relative to Stallion?
You are a covered person regardless of the number of hours you charged because you assisted the audit team by performing audit procedures.
An audit is defined as "independent review of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form, when such an examination is undertaken with a view to offering an opinion thereon." The purpose of auditing is to make sure that a company is keeping its books of accounts in accordance with the law. Auditors analyze the claims made in front of them, gather supporting data, then evaluate the claims in their auditing report. Multiple stakeholders receive third-party assurance via audits that the topic is free of material misrepresentation.
To learn more about audit click here
brainly.com/question/29979411
#SPJ4