Answer:
b. debiting Accounts Receivable and crediting Sales.
Explanation:
When merchandise is sold and the perpetual system of inventory is used, the journal entry for a sale would include debiting Accounts Receivable and crediting Sales.
A perpetual system of inventory can be defined as a process of financial accounting, which involves the recording of informations about an inventory on a continuous basis (in real-time) as the sales or purchases are made through the use of enterprise management software applications and a digitized point-of-sale services.
In Accounting, to record a journal entry for a sale on an account, the account receivable would be debited because it is an asset and shall be increased with debits while crediting the sales account for the amount being paid by the customer.
Under a perpetual system of inventory, updates of the journal entry for a sale would include debiting Accounts Receivable and crediting Sales immediately as it is being made or happening. This is to ensure that the inventory account balance is always accurate provided there are no spoilage, theft etc.
The Triffin paradox warned that the gold-exchange system of the Bretton Woods agreement was programmed to collapse in the long run. was indeed responsible for the eventual collapse of the dollar-based gold-exchange system in the early 1970s. was first proposed by Professor Robert Triffin. all of the options
Answer:
All of the options.
Explanation:
Professor Robert Baron Triffin was born on the 5th of October, 1911 in Flobecq, Belgium. He was a Belgian-American economist who became famous for his criticism of the Bretton Woods system of fixed currency exchange rates when he appeared and testified before the US Congress in 1959.
The Triffin paradox:
1. Warned that the gold-exchange system of the Bretton Woods agreement was programmed to collapse in the long run.
2. Was indeed responsible for the eventual collapse of the dollar-based gold-exchange system in the early 1970s.
3. Was first proposed by Professor Robert Triffin.
A résumé style that highlights your previous work experiences related to the position you are seeking is which type of résumé?
Answer: Functional
Explanation:
In a job interview, a resume is a brief description of the candidate. Its motive is to create a favorable impression on the interviewer that can help the candidate to get the job.
To make it impressive there are some common styles such as functional (highlights your previous work experiences), chronological(arrange order of educational achievements and skills), skills, and targeted(arrange detals for a particular job role).
Hence, A functional style highlights your previous work experiences related to the position you are seeking.
Royal Caribbean Cruise Lines contracts with ______ to manage the large movement of food, beverages, raw ingredients, and supplies so that these deliveries are coordinated with the freight schedules.
Answer:
Third-party logistics
Explanation:
Royal Caribbean Cruise Lines contracts with Third-party logistics (or 3PL). Like mentioned in the question, this refers to the outsourcing of e-commerce logistics processes, including inventory management, warehousing, and fulfillment in order for the merchant company to automate all of their order fulfillment and freight scheduling coordination so they can free up their time and accomplish more on their end.
At the end of Year 2, retained earnings for the Baker Company was $2,650. Revenue earned by the company in Year 2 was $2,900, expenses paid during the period were $1,550, and dividends paid during the period were $950. Based on this information alone, what was the amount of retained earnings at the beginning of Year 2
Answer:
$2,250
Explanation:
Calculation for the amount of retained earnings at the beginning of Year 2
Using this formula
Beginning retained earning =Revenue earned- Expensee- Dividend Paid- Ending retained earnings
Let plug in the formula
Beginning retained earning =$2,900-$1,550-$950-$2,650
Beginning retained earning =$2,250
Therefore the amount of retained earnings at the beginning of Year 2 will be $2,250
When assessing energy resources, it is helpful to use a measure called EROI, which is:__________
a) energy returned minus energy invested
b) energy returned plus energy invested
c) amount of energy invested minus heat released into the environment
d) money invested in extraction and processing minus money in sales
e) energy returned divided by energy invested
Answer:
e) energy returned divided by energy invested.
Explanation:
When assessing energy resources, it is helpful to use a measure called Energy Returned On Investment (EROI), which is energy returned divided by energy invested.
Energy Returned On Investment (EROI) is a means of measuring the quality of an energy source.
Generally, EROI can be defined as the ratio of the quantity of usable energy (exergy) gotten from a specific energy resource to the quantity of energy used to produce that energy resource.
Some examples of energy resources are fossil fuel, solar, hydropower, wind, nuclear, tidal, hydrogen, wave etc.
Goods and services are purchased by businesses as well as by individuals. a. True o O b. False
Answer:
true
Explanation:
An oligopoly a. is a type of imperfectly competitive market. b. has a concentration ratio of less than 50 percent. c. is a price taker. d. has many firms rather than just one firm or a few firms.
Answer:
Option A
is a type of imperfectly competitive market
Explanation:
An oligopoly is a market arrangement where a few number of producer/sellers dominate and control the market.
Usually, in this type of imperfect ,market, firms would always need to collude to increase their prices for their products which are relatively differentiated products
These firm together have a concentration ratio of more than 50% i.e they control more than 50% of the entire market share.
Answer
is a type of imperfectly competitive market
Lacey has a degenerative eye disease that is causing her to gradually lose her eyesight. When Lacey asked her employer, Ideal Accessories, to purchase a low-vision computer for her use at work, she was fired. Ideal Accessories has violated the
Answer: American with Disabilities Act
Explanation:
The Americans with Disabilities Act was out in place in order to prevent the discrimination against the people that have disabilities. People with disabilities should be given equal rights to transportation, employment opportunities, education etc just like every other person.
Basee on the above scenario in the question, we can say that Ideal Accessories has violated the American with Disabilities Act.
The project manager has concerns about the software developer's project work in terms of quality and has spoken to the developer about this on several occasions. This involvement derives from the relationship between project management and quality management that should complement each other. What specifically is the relationship between the two
Available Options Are:
(A) Both focus on management responsibility, fulfillment of requirements, continuous improvement, prevention over inspection, and product excellence
(B) Both focus on management responsibility, continuous improvement, prevention over inspection, and customer satisfaction
(C) Both focus on management responsibility, fulfillment of requirements, continuous improvement, prevention over inspection, and customer satisfaction
(D) Both focus on management responsibility, continuous improvement, prevention over inspection, and product excellence
Answer:
Option B. Both focus on management responsibility, continuous improvement, prevention over inspection, and customer satisfaction
Explanation:
The quality management and the project management both are management study. Secondly, both of these focus on the improving the project quality and making it better in the every next step. Both management techniques prefer mistake prevention techniques over the continuous prevention which cost lower. These three things were common in all of the option above and are written in bold letters.
Option A is incorrect because fulfillment of requirements and product excellence is not part of project management though it is part of quality management.
Option B is correct because both project management and quality management says that customer satisfaction comes from quality output.
Option C is incorrect because fulfillment of requirements is not part of project management though it is part of quality management.
Option D is incorrect because product excellence is not part of project management though it is part of quality management.
"A customer has an account with a brokerage firm that is in receivership. The account holds $220,000 of securities and has a $90,000 debit. Which statement is TRUE regarding SIPC coverage?"
Answer: The account is covered for $130,000
Explanation:
The options to the questions are:
A. The customer must deposit $90,000 to receive the $220,000 of securities
B. The account is covered for $100,000
C. The account is covered for $130,000
D. The account is covered for $220,000
Based on the above question, it should be noted that the equity in the account of a customer is covered by SIPC and the coverage should not be more than $500,000 while for the cash coverage, there is a limit of $250,000.
Since the account has securities of $220,000 and a $90,000 debit, it simply means that the equity will be:
= $220,000 - $90,000
=$130,000.
The customer will then get securities worth of $130,000 in liquidation.
Henry and his girlfriend ate dinner at the new Thai restaurant that recently opened in his neighborhood. This expenditure would be included in:
Answer:
The bill.
Explanation:
Expenditure means the part of the action that has to do with money or spending money. In this case that would be the bill at the end of their meal.
People have unlimited desires but limited resources. Economics tries to understand how we make decisions in such a world of ______ resources.
Answer:
Scarcity, is the right answer.
Explanation:
Scarcity is the answer because economics refers to decision making when there is scarcity. Since we know that human wants are unlimited but the resources are limited. Thus, the scarcity of resources gives birth to the problem of choice. Basically, economics studies the social human behavior in relation to resource allocation. Therefore, economics is all about that is generated to understand the allocation or decisions in the case of scarce resources.
Barney places his new extension ladder on a slippery surface when he leans it against the wall. He climbs up; the ladder slips out from under him and he falls. Which type of product liability may exist in this situation
Answer: C) Marketing if the manufacturer did not provide instructions on how to use the ladder.
Explanation:
The options to the question are:
A) Manufacturing since ladder may not have been intended for this use.
B) Design since the ladder may not have been made to specifications
C) Marketing if the manufacturer did not provide instructions on how to use the ladder.
D) There is no liability. The users assumes all risk in using any type of ladder.
From the question, we are informed that Barney places his new extension ladder on a slippery surface when he leans it against the wall and that as he climbs up; the ladder slips out from under him and he falls.
The type of product liability may exist in this situation is "Marketing if the manufacturer did not provide instructions on how to use the ladder".
Charlie, a production head at an automobile company, is reviewing along with his team the efficiency of the current production system. A few employees in his team have ideas about how the production cost can be reduced by modifying the assembly system. Which of the following statements made by Charlie would best act as an idea grower in this scenario? If the system is not broken, we do not have to fix it. The current production system is good enough. Though the current system is efficient, is it perfect? You may want to change the current system, but what about the costs?
Answer:
Though the current system is efficient, is it perfect
Explanation:
An idea grower is someone that is open to analyzing different ideas, possibilities, or options on how to improve the current production system. I'm not sure if anything can be considered to be perfect, since we all have flaws, and the things that we make all have flaws. The difference is that things or systems are those that have the least amount of flaws and work almost efficiently most of the time.
In this case, the production system might be very efficient, but it can always be improved. It is charlie's duty to try to find ways to continuously improve it.
Stockton broker Dustin Giles has been asked by super-cautious sellers Frank and Carole Bellacera to find out the comparable sales for their property, since they aren't sure at what price they should list their property. When Dustin gives the information to them, they insist this is NOT what they want. They want to know what the actual value is that a lender will use to establish a loan amount. Someone is confused here, but which someone
Answer:
Frank and Carol Bellacera are confused
Explanation:
The fact that the couples are super -cautious in nature is getting them confused concerning what they actually wanted as they were trying to be extra careful.
They initially requested for a comparable sales price for their property towards listing, known as comparative market analysis which Dustin Giles provided. However , they went on to change their request to the actual value that a lender can be used to establish a loan which is appraisal .Dustin could have been able to do the appraisal if only he is an independent licensed appraiser practitioner.
Therefore from the scenario ,it is very obvious that Frank and Carole did not really know what they wanted or probably have not made up their mind concerning their decision on the property.
What is the maximum loan amount a bank will provide a borrower under the following circumstances: LTV: 70% Appraised Value: $320,000 Contract Price: $330,000
Answer:
$231,000
Explanation:
The maximum loan amount that the borrower would get from a bank is the 70% of the contract price which is computed thus:
The understanding here is that the bank would provide 70% counterparty funds which is equivalent to 70% of $330,000 i.e $231,000(70%*$330,000).
In other words,the borrower should be willing to provide 30% of $330,000 while the bank complements the borrower's efforts withe balance of 70%
Jennie receives $12,000 (of which $2,000 is earnings) from a Qualified Tuition Program. She uses the funds to pay for new furniture for her apartment. What amount is taxable to Jennie
Answer: $2000
Explanation:
From the question, we are informed that Jennie receives $12,000 (of which $2,000 is earnings) from a Qualified Tuition Program and she uses the funds to pay for new furniture for her apartment.
The amount that is taxable to Jennie will be the amount of earnings she made who is $2000.
In the Keynesian-cross model with a given MPC >0, the government-expenditure multiplier ______ the tax multiplier.
Answer:
the government-expenditure multiplier _Is larger than_ the tax multiplier.
Is larger than
Explanation:
Keynesian Cross Model otherwise known as expenditure-output model is used to determine the point where total or aggregate expenditures in the economy are intercept the amount of output produced, i.e equilibrium level of real GDP. In economy, if MPC >0, the government-expenditure multiplier is larger than the tax multiplier.
Intel achieved success by using the "Intel Inside" advertising campaign and logo that appears on many brands of PCs. This is an example of a barrier to entry classified as:
Answer: product differentiation
Explanation:
From the question, we are informed that Intel achieved success by using the "Intel Inside" advertising campaign and logo that appears on many brands of PCs.
This is an example of a barrier to entry which is known as product differentiation. Poduct differentiation is when a company makes its product different from other similar products so that the product will be more attractive and unique from others.
Short-term price reductions like two-for-one commonly used to increase trial among potential customers or to retaliate against a competitor's actions are referred to as a
Answer:
Deal
Explanation:
The deal is the business term that is done between any two persons in order to generate the benefit for both the parties
Here in the question, the two for one rise the trial between the future customers or its is against the actions of a competitor
Just as example = short term price reductions
It benefits for both the parties i..e for the buyer it gets in less price and for selling one product is sold and get some margin on it
Therefore it is a deal situation
What is a possible consequence of an employee’s being able to visit the safe-deposit box unaccompanied?
Answer:
Explanation:
Safe box is a secured container with locks and mostly fireproofed , used to store valuable properties and data for protection against theft , loss and misappropriation.
When an employee is allowed to visit a safe box unaccompanied , the safe box is exposed to a risk of violation.
The employee may not be able to steal any of the items contained in the box as it is expected that there must be a proper record keeping of such items , and if any get missing , it can be easily traced to him. However , he could use any of the item as security for personal short term bank loan as this may not easily be discovered as long as the item is still physically existing in the box , unless / until the loan terms eventually get violated.
s the initial transaction in a new margin account, a customer buys 1,000 shares of XYZ stock at $30. The market value increases to $50. Which statements are TRUE? I Equity increases by $10,000 II Equity increases by $20,000 III SMA increases by $5,000 IV SMA increases by $10,000
Answer:
Equity increases by $20,000 an SMA by $10,000
Explanation:
While equity is defined as the remaining value of an owner's interest in a business , the simple moving average is defined as the average of a selected range of prices , usually the closing prices by the number of periods in that range.
For every $1 increase in market value , the SMA increase by $0.5 and the equity by $1
Workings
1000 shares at $30 = $30,000
Market value = 1000* $50 = $50,000
Equity increase - 50,000-30,000 = 20,000
SMA = 20,000 *0.5 = 10,000
"Greater Florida Builders wants to build a 450-acre housing development. They submit the plans to the local zoning commission who agrees with the plans, providing that Greater Florida Builders agree to give land for a new school to be located within the subdivision. Greater Florida Builders has been required to:"
Answer:
Dedicate the property for the school.
Explanation:
In this scenario Greater Florida Builders wants to build a 450-acre housing development. But before getting approval to commence the project the local zoning commission requires the Greater Florida Builders to dedicate a property to the school before it agrees to their proposal.
Local zoning commissions are locally elected government board that recommends to the city council the boundaries of various housing projects and ensuring these boundaries are enforced.
They also apply measures that segregates business property from residential property.
______ occurs when people are hired or promoted, or denied hiring or promotion, for reasons not relevant to the job
Answer:
Workplace discrimination
Explanation:
Workplace discrimination is when someone is not treated well at work because of prejudices related to race, gender, religion, sexuality, among others. According to this, the answer is that workplace discrimination occurs when people are hired or promoted, or denied hiring or promotion, for reasons not relevant to the job because the person is treated differently because of prejudices.
While establishing an overall picture of process output over time, the team plots a chart based on the data available. The plotted chart has seven consecutive data points on one side of the mean. What can be determined from the plotted chart
Answer: None of the answers
Explanation:
The options to the question are:
A) The control limits are too tight
(B) The control limits are acceptable
(C) The control limits are too loose
(D) None of the answers.
According to the seven run rule, a process is out of control in a control chart in a situation whereby there are seven consecutive data points that all fall on same side of mean. In such case an adjustment has to be made.
In the scenario in the question, none of the answers will be chosen because there has been a violation of the seven run rule as the answers provided are all incorrect.
Any one duty of Human Resource Manager
Recruitment: Search for new qualified people
explanation: it means like to get new people to join company if there are vacancies
GAAP includes which of the following pronouncements: Multiple Choice Statements of Financial Accounting Standards. Accounting Research Bulletins. Accounting Principles Board Opinions. All of the choices are correct.
Answer:
All of the choices are correct.
Explanation:
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).
GAAP includes each of the following pronouncements:
Statements of Financial Accounting Standards, Accounting Research Bulletins, Accounting Principles Board Opinions.
For external reporting purposes, United States of America, Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.
United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).
When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).
A profit-maximizing, competitive firm will always hire an additional worker when the additional worker makes a positive contribution to
Answer:
Total profit
Explanation:
A profit maximising firm is one which marginal revenue exceeds marginal cost in its operations.
Price, inputs, and outputs are determined in such a way that they will realise highest profit.
So when a firm hires an additional worker they weigh the cost of getting his services (salary) against how much they can contribute to the total profit of the firm.
If contribution to total profit exceeds additional salary expense then the firm will go ahead and hire additional workers.
Monica, a project manager at a software firm, learns during a status report meeting that a difference exists between the baseline scope and the actual project performance. What does Monica need to do next?
Answer:
analyze the variance
Explanation:
In this scenario, the next necessary step that Monica must take would be to analyze the variance of the scope. Analyzing the variance is done in order to effectively determine whether or not a change in scope is actually warranted, and must be done every time that there is a difference identified between the actual performance and the baseline scope such as in this scenario.
_______ can provide guidance when organization members are uncertain about whether an action is ethical. The communications manager An ethics philosopher The ethics ombudsperson The personnel manager The accommodative manager
Answer:
The ethics ombudsperson
Explanation:
-The communications manager takes care of making the internal and external messages of the company.
-An ethics philosopher deals with defining what is good and what is wrong.
-The ethics ombudsperson is an official that investigate complaints related to the violation of rights.
-The accommodative manager takes care of making sure that the company functions in an efficient way and that the standards are met.
According to this, the answer is that the ethics ombudsperson can provide guidance when organization members are uncertain about whether an action is ethical because this person invetigates complaints to find out if there is a violation.