The major determinants of price elasticity are :
SubstitutabilityProportion of incomeluxury versus necessitytimea) Bottled water: It is likely elastic because there are a number of substitutes to bottled water such as cans of soda, tap water, water from fountains, etc.
b) Toothpaste: Inelastic because many substitutes are not present and toothpaste is necessary.
c) Crest toothpaste: Elastic because it is a specific brand and there are many substitutes such as Colgate, Sensodyne, etc.
d) Ketchup: Inelastic good because there are not many substitutes for ketchup and it is a source of income
e) Diamond bracelets: Elastic is good because it is a luxury good and makes up a large part of the income.
f) Microsoft's Windows operating system: The Good is likely to be inelastic because of the lack of substitutes and it is a necessity.
In economics, a call for the curve is a graph depicting the connection between the fee of a positive commodity (the y-axis) and the quantity of that commodity that is demanded at that fee (the x-axis). call for curves may be used both for the fee-quantity dating for a person patron (a man or woman demand curve), or for all purchasers in a specific market (a marketplace call for curve).
it's miles normally assumed that call for curves slopes down, as proven inside the adjoining image. that is because of the regulation of demand: for maximum items, the quantity demanded falls if the charge rises. positive uncommon situations do now not comply with this law. these encompass Veblen goods, Giffen goods, and speculative bubbles where shoppers are drawn to a commodity if its price rises.
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Complete Question:
What are the major determinants of price elasticity of demand? Use those determinants and your own reasoning in judging whether demand for each of the following products is probably elastic or inelastic:
(a) bottled water;
(b) toothpaste;
(c) Crest toothpaste;
(d) ketchup;
(e) diamond bracelets;
(f) Microsoft’s Windows operating system.
Why is it important for a producer to know the elasticity of the demand curve he or she faces?
Which of the following terms would be found on an income statement using variable costing but never not on an income statement prepared using absorption costing?a. Variable manufacturing overhead b. Fixed manufacturing overhead c. Gross profit d. Contribution margin
The correct answer is c. Gross profit of the following terms would be found on an income statement using variable costing but never not on an income statement prepared using absorption costing.
The gross profit of a business is determined by subtracting the total sales from the total cost of the goods sold. All products sold by the business are included in the overall sales. The total cost of the goods sold is calculated by adding up all of the variable expenditures associated to sales. The outcome of deducting cost of goods sold (COGS) from revenue is a company's gross profit, which is shown on its income statement (sales).These figures will appear on a company's income statement. Net income is gross profit less any other expenditures, expenses, and sources of revenue that are not included in gross profit.
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if the nominal interest rate is 10% and the inflation rate is 5%, what is the real interest rate? (do not round intermediate calculations. round your answer to 2 decimal places.)
The real interest rate is 4.76% if the nominal interest rate is 10% and the inflation rate is 5%.
What is the rate of real interest?
Real interest rates are market interest rates that have been adjusted for inflation. In terms of its purchasing power, it represents the value of the interest paid on a loan or investment. It also demonstrates how much time is valued by both the borrower and the lender.
Prospective real interest rates are based on forecasts of inflation throughout the time until a loan or investment matures. Investors may face a negative rate of return if inflation is higher than the nominal rate of return on assets.
Calculating the real interest rate:
Real interest rate [tex]= \frac{(1+ Nominal interest rate) }{1+Inflation rate)} -1[/tex]
[tex]= \frac {(1+10)} {(1+5)} -1[/tex]
= 1.0476 - 1
= 0.0476 or 4.76
Therefore, the real interest rate is 4.76%.
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On January 1, 2017, Plaid Corporation begins construction on a new warehouse. The construction project qualifies as a self-constructed asset. Plaid had the following expenditures on the project during 2017:January 1, 2017$200,000July 1, 2017$600,000December 1, 2017$120,000What are the average accumulated expenditures used to calculate capitalized interest on the project in 2017?
The average accumulated expenditures used to calculate capitalized interest on the project in 2017 can be found by adding up the total expenditures made during the year and dividing by 2.
Total expenditures in 2017: $200,000 + $600,000 + $120,000 = $920,000
Average accumulated expenditures: $920,000 / 2 = $460,000
So, the average accumulated expenditures used to calculate capitalized interest on the project in 2017 is $460,000.
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for purposes of safeguarding customer information, which of the following would be considered a covered account?
A margin account in the name of Mary Beth Simmons. So, option b. is the correct answer. The term covered account does not pertain to institutional customers, such as banks, pension funds, and investment companies.
A covered account is an account especially for personal, family, or household objectives, that implicates or is organized to allow multiple expenses or transactions, or any different account for which there is a reasonably foreseeable threat to customers or the security and soundness of the financial institution or creditor from individuality theft. Each financial institution and the creditor must occasionally discern whether it proposes or maintains a covered account.
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Complete question:
For purposes of safeguarding customer information, which of the following would be considered a covered account?
A. An account in the name of the State of X employee pension fund
B. A margin account in the name of Mary Beth Simmons
C. An account in the name of the Wells Morgan Bank
D. A margin account in the name of the Interglobal Hedge Fund
Fill in the blankshow the effect of recording the borrowing of $10,000 from a bank on the accounting equation. _____ by $10,000.
The effect of recording the borrowing of $10,000 from a bank on the accounting equation is liabilities and assets increase by $10,000
What Is Accounting Equation?Accounting is one of the concepts in a company. Accounting is the activity of recording, managing, and providing information on all forms of transactions that occur in the company. This transaction will then be recorded in the general ledger which is divided into debit and credit accounts. In simple terms, a debit account describes the cash flow that goes into the company or belongs to the company and a credit describes the cash flow that goes out of the company. When a company borrows money from a bank, the change that occurs is an increase in the company's liabilities or debt but the company's assets increase due to additional cash.
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political and economic theories that advocate for people as a whole rather than private individuals to work and operate are called?
Socialism is a social and economic doctrine that calls for public alternatively than personal possession or manage of property and herbal resources. According to the socialist view, folks do now not stay or work in isolation but live in cooperation with one another.
What are the political and economic theories?The political monetary concept explores the relationship between a government and its human beings owing to enacted public policies. The quite a number ideologies of political economic idea are marxism, economic nationalism, and liberalism. The learn about of political financial systems encompasses socialism, communism, and capitalism.
What is a political economic and social theory?Political economic system is a social science that research production, trade, and their relationship with the law and the government. It is the learn about of how financial theories have an effect on exceptional socio-economic systems, such as socialism and communism, along with the creation and implementation of public policy.
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https://brainly.com/question/30324329#SPJ4TRUE/FALSE.All accounts that appear in the balance sheet, including Retained Earnings, are permanent accounts, and we carry forward their balances from period to period.
The given statement "All accounts that appear in the balance sheet including Retained Earnings are permanent accounts, and their balances are forwarded from period to period." is true because all accounts that appear in the balance sheet, including Retained Earnings, are permanent accounts, and their balances are carried forward from period to period.
Permanent accounts, also known as real accounts, represent a company's long-term assets, liabilities, and equity, and are not closed at the end of each accounting period like temporary accounts. Retained Earnings, in particular, represent the accumulated profits of a company that have been kept in the business instead of being distributed as dividends. The balance of Retained Earnings is updated each period to reflect the company's net income or loss, and is reported in the balance sheet as a component of equity.
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The economic success of businesses such as the British South Africa Company was in part dependent on which of the following developments in the late nineteenth century? A) The migrations of indentured workers from Asia B) The increasing availability and variety of consumer goods C) The development of new technologies such as the telegraph
The economic success of businesses such as the British South Africa Company was in part dependent on C)the development of new technologies such as the telegraph in the late nineteenth century.
The telegraph allowed for more efficient communication, which facilitated the flow of goods and information, making it easier for businesses to expand their operations and reach new markets. This was especially important for businesses that were operating in remote areas, such as the British South Africa Company, which was involved in colonial expansion and exploitation of resources in Africa.
The availability and variety of consumer goods and the migrations of indentured workers from Asia were also significant developments in the late nineteenth century, but the development of the telegraph had a more direct impact on the success of businesses such as the British South Africa Company.
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AAA Heating and Air Conditioning completed 30 jobs last month with a mean revenue of $5,430 per job. The president wants to know the total revenue for the month. Based on the limited information, compute the total revenue.
Having completed 30 jobs last month with a mean revenue of $5,430 per job, it means that AAA Heating and Air Conditioning has a total revenue of $162,900.
the calculation of total revenue is done by multiplying the number of jobs completed, which is 30, by the mean revenue per job, which is $5,430.
$5,430 x 30 = $162,900
This results in $162,900, which is the total revenue for the month. It's important to note that the mean revenue per job is just an average and may not accurately reflect the exact revenue generated from each individual job. However, if the revenue generated from each job is relatively consistent, the mean revenue per job can be used as a rough estimate of the total revenue.
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accounts payable makes up 29% of total liabilities in year one. this is an example of vertical analysis.
When the accounts/bills payable of a firm are a forming part of the 29 percentage of its total liabilities in one year, then it may be held as an example of a vertical analysis.
The accounts payable of a firm may be ideally understood as the bills or accounts on which the company owes a liability to the account holders within the regular course of operations during a particular accounting period. When they are taken into interpretation, they become a forming part of the vertical analysis of an accounting firm.
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Complete question
FILL IN THE BLANKS. Accounts payable makes up 29% of total liabilities in year one. This is an example of ______ analysis.
table 3-4 represents the supply schedule for surfboards. assume that the market for surfboards has an upward-sloping supply curve.
The relationship between a product's price and the quantity that a company will produce is shown graphically by the supply curve.
Because the graphical curve slopes upward, the supply curve is also known as an upward-sloping supply curve. This happens because businesses want to create more of a good as its price rises so they can sell it for more money.
The amount that businesses are willing to produce at various price levels is shown when a supply curve is graphed, creating a supply schedule. The supply curve will nearly always have an upward left-to-right slope. A sample supply schedule is shown below in the following image.
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CORRECT QUESTION FORMAT IS THE BELOW -------------
Q. What is Upward supply curve? Explain with help suitable table.
A demand curve is a graph of the same data, but a demand schedule is a table that depicts the relationship between a good's price and the amount demanded.
When there is an excess supply in a market with an upward sloping supply and a downward-sloping demand curve, the real price must be lower than the equilibrium price. The supply curve can be defined as a graphic representation of the relationship between a good's price and the amount delivered during a specific time period. It should be emphasized that when there is an excess supply, the real price must be lower than the equilibrium price in a market with an upward-sloping supply curve and a downward-sloping demand curve. The demand curve slopes downward because the quantity sought increases as the price decreases.
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Dicte has a small business making based beaded jewelry. The costs of purchasing the beads, semi-precious stones, clasps, and other supplies used to make the jewelry and the rent on her store are the _______ of her business, whereas the assets resulting from the sale of her jewelry are the business's___
The costs of purchasing the supplies and rent are the "expenses" of Dicte's business, whereas the assets resulting from the sale of her jewelry are the "revenues" of her business.
Expenses are the costs that a business incurs in order to operate and generate revenue. These can include the cost of raw materials, labor, rent, and other operating costs. In Dicte's case, the cost of the beads, semi-precious stones, clasps, and other supplies used to make the jewelry, as well as the rent on her store, are considered expenses. Dicte has a small business making based beaded jewelry. The costs of purchasing the beads, semi-precious stones, clasps, and other supplies used to make the jewelry and the rent on her store are the expenses of her business, whereas the assets resulting from the sale of her jewelry are the business revenues.
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Categories of expenditures
Answer:
Explanation: wheres the picture
To convert cash receipts from customers to revenue on an accrual basis, which of the following adjustments is necessary?A.Add ending Accounts Receivable. B.Subtract ending Unearned Service Revenue. C.Subtract beginning Accounts Receivable. D.All of these answer choices are correct.
To transform consumer cash receipts into revenue on an accrual basis. Add ending Accounts Receivable, subtract ending Unearned Service Revenue, and subtract starting Accounts Receivable. Here option D is the correct answer.
Adding ending Accounts Receivable: Accounts Receivable is a liability account that represents money owed to a business by its customers. When a business receives cash from a customer, it increases both cash and Accounts Receivable. To convert cash receipts to revenue on an accrual basis, the ending balance of Accounts Receivable must be added to revenue.
Subtracting ending Unearned Service Revenue: Unearned Service Revenue is a liability account that represents money received by a business for services that have not yet been provided. To convert cash receipts to revenue on an accrual basis, the ending balance of Unearned Service Revenue must be subtracted from revenue.
Subtracting beginning Accounts Receivable: The beginning balance of Accounts Receivable represents money owed to a business from its customers at the start of a period. To convert cash receipts to revenue on an accrual basis, this amount must be subtracted from revenue.
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In 30 minutes, Kana can either make miso soup or she can clean the kitchen. In 15 minutes, Mitchell can make miso soup; it takes Mitchell an hour to clean the kitchen.
E.) B&C, When it comes to cooking miso soup, Mitchell has the comparative advantage. When it comes to cleaning the kitchen, Kana has both an absolute and relative edge.
Kana cannot match Mitchell's speed in creating miso soup because Mitchell has the clear advantage. Additionally, he enjoys a comparative advantage while producing miso soup since he incurs lower opportunity costs in doing so. Kana, on the other hand, has a clear edge when it comes to cleaning the kitchen because she is able to do so more quickly than Mitchell. She also enjoys a competitive advantage when it comes to cleaning the kitchen because Mitchell would incur more opportunity costs. When manufacturing a specific item, agents in an economic model have a comparative advantage over rivals if they can do so at a lower relative opportunity cost or autarky price, that is, at a lower relative marginal cost before trade.
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In 30 minutes, Kana can either make a miso soup or she can clean the kitchen. In 15 minutes, Mitchell can make miso soup; it takes Mitchell an hour to clean the kitchen.
A.) Kana has the absolute and comparative advantage at making miso soup
B.) Mitchell has the absolute and comparative advantage at making miso soup
C.) Kana has the absolute and comparative advantage at cleaning the kitchen
D.) Mitchell has the absolute and comparative advantage at cleaning the kitchen
E.) B&C
F.) A&D
Acme Enterprises issued 10,000 shares of $0.10 par value common stock for $20,000 in cash. The journal entry to record this transaction will include a ______.
a. credit to Notes Payable of $20,000
b. credit to Additional Paid-in Capital of $19,000
c. credit to Cash of $20,000
d. credit to Common Stock of $1,000
e. debit to Cash of $20,000
f. credit to Common Stock of $20,000
The journal entry to record this transaction will include b. credit to Additional Paid-in Capital of $19,000, d. credit to Common Stock of $1,000 and e. debit to Cash of $20,000.
A journal entry is used to record a business transaction in a company's accounting records. A journal entry is often recorded in the general ledger; however, it may also be entered in a subsidiary ledger before being summarized and rolled forward into the general ledger.
The general ledger is then utilized to generate the company's financial statements. A journal entry is used to record every business transaction in at least two places (known as double entry accounting).
When you make a cash sale, for example, you raise both the revenue and cash accounts. Alternatively, if you purchase products on credit, this boosts both the accounts payable and inventory accounts.
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A bar offers female patrons a lower price for a drink than male patrons. The bar will maximize profits by selling a total of 200 drinks (a night). At the current prices, male customers buy 150 drinks, while female customers buy 50 drinks. At this allocation between markets, the marginal revenue from the last drink sold to a female customer is $0.50. What should the bar do about its pricing? If the bar sells 151 drinks to males and 49 to females, what will be the increase (decrease) in total revenue?
Male and female clients shouldn't be subject to different prices. Customers of both genders will receive the same pricing. Men will be more drawn to such price parity than women, which will result in higher earnings.
What is marginal revenue?The increase in revenue that comes from selling one more unit of output is known as marginal revenue. Although marginal revenue can remain constant at a certain level of output, it will eventually start to decline as the output level rises due to the law of diminishing returns.
Selling those things at a higher price will be more advantageous regardless of who purchases because profit maximization can be achieved by selling 200 units at a time.
Thus, Male and female clients shouldn't be subject to different prices.
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in the perceptual process, we select information to move forward to the next step based on which of the following?
In the perceptual process, information is selected based on relevance and importance to our existing knowledge, past experiences, and current context.
Perception is the process of organizing and interpreting sensory information to create meaningful experiences. It begins with the selection of information that we attend to and is influenced by our existing knowledge, past experiences, and current context.
Our brain actively filters out irrelevant information and prioritizes information that is most important and relevant to us, based on our goals, motivations, and needs. This selective attention helps us to efficiently process information, avoid sensory overload, and effectively respond to the environment.
The options are not provided; hence, the answer is general.
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How do you measure GDP?
Explanation:
Measuring GDP: Approaches
Sajan Rai
How do you measure GDP?
Gross Domestic Product (GDP) is the most widely used measure of a country's economic output. It is calculated as the sum of all goods and services produced within a country's borders in a specific period of time, usually a year. There are three ways to measure GDP:
The production approach: measures the total value of goods and services produced within a country's borders.
The expenditure approach: adds up total spending on consumption, investment, government purchases, and net exports.
The income approach: sums up all the income generated by production, including compensation to employees, gross operating surplus, and taxes less subsidies.
Each approach should give the same GDP number, but the expenditure approach is most commonly used because it is the easiest to obtain data for.
Explanation:
Gross Domestic Product (GDP) is a measure of the total value of goods and services produced in a country over a specified time period, usually a year. There are three ways to measure GDP:
The production approach: This method measures GDP by adding up the value of all goods and services produced within the country's borders, regardless of who owns the factors of production.The expenditure approach: This method measures GDP by adding up total consumption, investment, government spending, and net exports (exports minus imports).The income approach: This method measures GDP by adding up the total income earned by all residents and businesses within a country's borders.Each of these methods should result in the same total amount of GDP, but the expenditure and income approaches are the most commonly used methods for calculating GDP.
Which definition of states a partnership in which two or more companies often from different countries join to undertake a major project?
The type of partnership in which two or more companies often from different countries join to undertake a major project is Joint Venture.
What is a Joint Venture ?A joint venture is a business agreement in which two or more companies or individuals come together to jointly undertake a specific project or business activity. In a joint venture, the partners share the resources, risks, and profits of the project.
The partners typically have a specific goal or objective for the joint venture and work together to achieve that goal. Joint ventures can take various forms and can be established for a limited time or for the long-term.
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Tyrese has been in the same job for over four years and doesn't seem to have any interest in advancing within the company. According to the job characteristics theory, adding more variety and autonomy to Tyrese's job would likely not increase his job satisfaction because he lacks strong
The work characteristics hypothesis states that Tyrese has significant growth need strength, so adding more diversity and autonomy to his employment is unlikely to improve his level of job satisfaction.
Growth Need Strength is typically characterized as the need or desire to grow via one's job; when this need is met, "growth pleasure" might ensue. Positive higher-order needs can be satisfied through creativity, according to some researchers.
Employees with high growth potential are more proactive, value learning and personal progress highly, and hence want more interesting and demanding work. It gauges how much a worker values professional development opportunities. The model also assumes that the jobholder possesses the necessary information, talents, and skills to complete the task.
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Assume that Adams Industries holds 53,000 shares of FedEx common stock, which is not a large enough ownership interest to allow Adams to exercise significant influence over FedEx. On December 31, 2024, and December 31, 2025, the market value of the stock is $94 and $103 per share, respectively. What is the appropriate reporting category for this investment and at what amount will it be reported in the 2025 balance sheet?
Assume that Adams Industries holds 53,000 shares of FedEx common stock.
The appropriate reporting category for this investment is; "available-for-sale securities.The amount will it be reported in the 2025 balance sheet is $5,459,000.How to find the total value of the investment?
The appropriate reporting category for this investment by Adams Industries in FedEx stock would be "available-for-sale securities." This is because Adams does not have the ability to exercise significant influence over FedEx, as indicated in the scenario.
At December 31, 2025, the market value of the stock is $103 per share, so the total value of the investment would be:
53,000 shares * $103 per share = $5,459,000
Therefore the amount would be reported in the 2025 balance sheet as a long-term asset under the category of available-for-sale securities is $5,459,000.
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For tax purposes, how is the compensation paid to an S corporation shareholder like compensation paid to an owner of an entity taxed as a partnership? How is it different?
The compensation paid to an S corporation shareholder is similar to that of an owner of an entity taxed as a partnership.
In that both owners receive compensation for services rendered in the form of wages, salaries, or other payments for services.
The difference between the two is that the compensation for an S corporation shareholder is subject to payroll taxes, such as Social Security and Medicare taxes, whereas the compensation for a partner in a partnership is not subject to payroll taxes.
Also, the amount of compensation paid to an S corporation shareholder must be reasonable in relation to the services provided, while there is no such requirement for partners in a partnership.
Finally, the compensation paid to an S corporation shareholder is subject to the same tax rates as regular income, while the compensation paid to a partner in a partnership is allocated differently.
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Discuss 15 ways of using comparative advantage theory to solve the economic Crisis in ghana
The fifteen ways to solve the economic crisis using comparative advantage theory in Ghana are stated below.
What are the fifteen ways to solve the crisis in Ghana?1. Promote specialization: The government can encourage specialization and boost the effectiveness of its economy by identifying areas of comparative advantage.
2. Fostering commerce: Ghana may grow its markets and get access to a broader range of goods and services, increasing its competitiveness, by embracing trade and lowering trade barriers.
3. Promoting education and training: Ghana can expand its human capital and improve its position to benefit from its comparative advantages by investing in education and training.
4. Infrastructure development can increase Ghana's competitive advantage by making it easier for firms to operate and conduct trade. Examples of improved infrastructure include roads, ports, and telephones.
5. Promoting international investment: Foreign investment can help Ghana increase its comparative advantage by bringing in money, technology, and expertise.
6. The economy can become less reliant on a few important sectors by diversifying, which makes it less susceptible to outside shocks.
7. Supporting small and medium-sized businesses (SMEs) can increase Ghana's comparative advantage by serving as a source of innovation and entrepreneurship.
8. Tax reform: Simplifying and lowering tax rates can make Ghana's economy more competitive and strengthen its comparative advantage.
9. Enhancing the business climate: Ghana can increase its competitive advantage and draw in more investment by making it simpler to launch and operate a firm.
10. Encourage entrepreneurship: Ghana can improve its competitiveness and capitalize on its comparative advantage by fostering entrepreneurship and innovation.
11. Tourist promotion: By strengthening its tourism sector, Ghana may take advantage of an expanding global market and strengthen its competitive advantage.
12. Updating the agricultural sector: Ghana may boost its competitiveness and benefit from its comparative advantage by modernizing its agriculture sector.
13. Developing the mining industry: Ghana can benefit from its natural resources and strengthen its comparative advantage by developing its mining industry.
14. Intellectual property protection: Ghana may become more competitive and capitalize on its comparative advantage by safeguarding its intellectual property.
15. Enhancing access to finance: Ghana can support its firms, boost its competitiveness, and benefit from its comparative advantage through improving access to credit.
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in a business liquidation, . multiple select question. a) liabilities are paid in full before funds are distributed to owners b) creditors and owners share equally in all distributions of assets c) liabilities are paid after owners receive a return of their investment
In a business liquidation, A)liabilities are paid in full before funds are distributed to owners.
What is liquidation?Selling off assets and utilising the money to settle debts with creditors and shareholders is the process of liquidation. When a business becomes insolvent and unable to pay its debts, it is triggered. Another type of liquidation is when a corporation voluntarily decides to close its doors and sell off its assets.
This means that all debts owed by the company must be satisfied before any remaining assets are distributed to the owners. Creditors have priority over owners in the distribution of assets in a liquidation, as they are considered to have a higher claim on the company's assets. Owners may receive a return of their investment only after all liabilities have been paid.
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when a country allows trade and becomes an exporter of silk, which of the following is not consequence ?a) the price paid by domestic comsumers of skil increaseb) the price recoved by domestic producers skilk increasec) the gains of domestic procedures of silk exceed the losses of somestic consumers of silkd) the price paid by domestic consumers of silk decrease
d) the price paid by domestic consumers of silk decreases is not a consequence of a country becoming an exporter of silk(d).
When a country becomes an exporter of silk, it increases its supply of silk, leading to a decrease in the price of silk in the international market. This leads to an increase in the price of silk paid by consumers in other countries, but not necessarily a decrease in the price of silk paid by domestic consumers.
In fact, the price paid by domestic consumers is likely to increase, as domestic producers are able to sell their goods at a higher price on the international market, leading to higher profits. This increase in the price paid by domestic consumers is the result of the increase in producer surplus, as domestic producers are able to sell their goods at a higher price.
In conclusion, the increase in the price paid by domestic consumers of silk is a consequence of a country becoming an exporter of silk. This is due to the increase in the price received by domestic producers of silk, leading to higher profits and an increase in producer surplus.
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which statement best explains why a large number of agricultural products are imported into the united states from chile?
The cost of production is diminished by Chile's expensive work. the top commodities of American agribusiness are grains and feeds, soybeans, steers items, tree nuts, natural products, vegetables, and other green merchandise.
Comparable farming strategies, like the development of wheat in China and the US, are commonly upheld by midlatitude conditions. Reasonable work in Chile diminishes the expense of creation. The organizations of creation and circulation have become more productive.
Business cultivating alludes to rural practices where harvests and creatures are raised for benefit. Ranchers develop immense lots of land with critical hardware usage since they should deliver a high volume of food.
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Suppose that the number of customers that enter a bank in an hour is a Poisson random variable, and suppose that P(X =0) = 0.02.
i. What is the probability that at most one person enter the bank in one hour?
ii. Determine the mean and standard deviation of X
i. [tex]P(X < = 1) = P(X = 0) + P(X = 1) = 0.02 + e^-λ * (λ^1)/1! = 0.02 + e^-λ * λ[/tex] If X represents the number of customers entering the bank in an hour, and X follows a Poisson distribution with parameter λ, then P(X = 0) = 0.02.
To find the probability that at most one person enters the bank in an hour, we can calculate the sum of the probabilities for X = 0 and X = 1:
[tex]P(X < = 1) = P(X = 0) + P(X = 1) = 0.02 + e^-λ * (λ^1)/1! = 0.02 + e^-λ * λ[/tex]
ii. The mean of a Poisson distribution is equal to λ. So, the mean of X is λ. The standard deviation is equal to the square root of the mean, so the standard deviation of X is sqrt(λ).
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Effective internal control over cash requires segregation of duties. Which of the following duties should be segregated?
The concept is Internal control. It is a process that guarantees the achievement of the organization's objectives in terms of effectiveness and operational efficiency.
Delegated responsibilities include:
Opening the mail and depositing checks at the bankDepositing checks in a bank and entering the receipts in the books of accountsInternal control is a process implemented by the company's board of directors, management, and other employees to obtain reasonable assurance that: Information is reliable, accurate, and up to date.
Compliance with applicable laws, regulations, contracts, policies, and procedures. Internal controls make the organization more process-oriented than people-oriented, reducing the risk of over-reliance on certain key employees.
Internal controls can identify redundancies in operational and compliance procedures and provide an opportunity to streamline operations.
Question:
Effective internal control over cash requires isolation of duties. What duties should be insulated?
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Fair Value Accounting for Debt Investments (HTM, TS, and AFS) On July 1, 2022, Watson paid $42 million for bonds of Carnes Inc; the bonds have a face value of $58 million. The coupon rate on the bonds is 5% and the market rate of interest was 7% at the time of purchase. The bonds pay interest every June 30 and December 31. The market value of the bonds was $45 million at the end of 2022. Watson accounts for investments using the net method.
REQUIRED:
a) Assume that the bonds are held-to-maturity securities, prepare the journal entries for Watson Corporation to record the acquisition of the bonds on July 1 and the required entries on December 31 (the fiscal year end for Watson Corporation).
b) Assume that the bonds are held as trading securities, prepare the journal entries for Watson Corporation to record the acquisition of the bonds on July 1 and the required entries on December 31 (the fiscal year end for Watson Corporation).
c) Assume that the bonds are held as available-for-sale securities, prepare the journal entries for Watson Corporation to record the acquisition of the bonds on July 1 and the required entries on December 31 (the fiscal year end for Watson Corporation).
Use Straight-line amortization method
The straight-line amortization method is a method of calculating the periodic reduction of an asset value or the periodic recognition of an expense over a set period of time.
a) Held-to-Maturity Securities:
Debit: Cash $42 million
Credit: HTM Investment in Bonds $42 million
Debit: Interest Receivable $58 million x 5% / 2 = $1.45 million
Credit: Cash $1.45 million
Log Entries for Discount Amortization on December 31:Debit: Discount on HTM Bonds $16 million ($58 million - $42 million) / 2 = $8 million
Credit: Interest Receivable $8 million
Debit: HTM Investment in Bonds $8 million
Credit: Discount on HTM Bonds $8 million
b) Trading Securities:
Debit: Cash $42 million
Credit: Trading Securities $42 million
Debit: Cash $58 million x 5% / 2 = $1.45 million
Credit: Interest Revenue $1.45 million
Debit: Trading Securities $3 million ($45 million - $42 million)
Credit: Unrealized Gain/Loss $3 million
c) Available-for-Sale Securities:
Debit: Cash $42 million
Credit: AFS Investment in Bonds $42 million
Debit: Cash $58 million x 5% / 2 = $1.45 million
Credit: Interest Revenue $1.45 million
Debit: Unrealized Gain/Loss $3 million
Credit: AFS Investment in Bonds $3 million
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