A buyer and seller trade things of value, leaving each better off than before characterizes an exchange.
A market where tradable securities, commodities, foreign exchange, futures, and options contracts are purchased and sold is known as an exchange, trading exchange, or trading venue.
Receiving something that is desired more than what is given up to achieve it is the goal of a commercial exchange. It involves a return greater than the expense, in other words.
To make their valuable item available, the parties involved in the exchange must be able to speak with one another. Exchange is the process of getting something you want from someone by giving them something in exchange. Hence, it can be defined as exchange.
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The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished goods inventory $12,600 $16,900 Beginning work in process inventory 17,600 21,600 Beginning raw materials inventory 7,700 10,650 Rental cost on factory equipment 28,500 23,050 Direct labor 23,000 39,800 Ending finished goods inventory 18,500 14,100 Ending work in process inventory 26,500 19,800 Ending raw materials inventory 6,800 7,600 Factory utilities 12,300 17,750 Factory supplies used 13,000 4,400 General and administrative expenses 31,000 59,500 Indirect labor 2,450 9,580 Repairsâ€"Factory equipment 6,860 3,700 Raw materials purchases 37,000 66,000 Selling expenses 51,200 48,700 Sales 238,530 337,510 Cash 29,000 17,200 Factory equipment, net 217,500 118,825 Accounts receivable, net 16,800 24,200 Compute the total prime costs for both Garcon Company and Pepper Company
We need to know how much raw material is consumed and how much is spent directly on paying employees in order to compute prime cost.
What is the formula for total prime cost?We need to know how much raw material is consumed and how much is spent directly on paying employees in order to compute prime cost.The formula is: Raw Materials + Direct Labor = 7500 + 3200 = 10700 Crore. In the example above, let's say the corporation pays 3200 toward direct labor costs out of the total direct expenditures.Returning to our prime cost formula, here are some more details:CoGS plus total labor costs equals prime cost.Direct materials consumed along with direct labor costs are utilized to compute prime costs.The direct labor expensed plus the manufacturing overhead expensed are used to compute conversion costs.As a result, both prime and conversion expenses include the direct labor that was used.According to the statement, prime cost sums are used for "the amounts of work whose size is recognized, but whose specification has not yet been established."
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If the CPI was 108.00 in 1942 and is 336.96 today, then $10 in 1942 purchased the same amount of goods and services as a. $2.57 purchases today. b. $31.20 purchases today. c. $38.89 purchases today. d. $28.89 purchases today.
If the CPI was 108.00 in 1942 and is 336.96 today, then $10 in 1942 purchased the same amount of goods and services as $31.20 purchases today.
A consumer price index is a price index that measures the cost of a weighted average market basket of consumer products and services purchased by households. Variations in the measured CPI reflect changes in pricing over time. A CPI is a statistical estimate based on the prices of a sample of typical products whose prices are gathered on a regular basis.
Sub-indices and sub-sub-indices for various categories and sub-categories of products and services can be computed and aggregated to generate the overall index, with weights indicating their portions of the total consumer expenditures covered by the index. It is one of numerous price indexes calculated by most national statistics organizations.
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The school district is served by four buses, each of which delivers students to three different schools. You know the cost of transporting each of the students to each of the schools, and you want to determine the least expensive way to get all of the students to their schools. If you use Excel Solver for this analysis, how many different variable cells should you use? 4 07 12 O 16 Question 21 / 58 submit Jump to unanswered question:
The variable cells must be connected to the objective cell either directly or indirectly. A maximum of 200 variable cells can be specified.
Explain about the variable cells?Cells that hold variable data that can be adjusted to accomplish the goal are known as variable cells (also known as changing cells or adjustable cells in earlier versions). Excel Solver allows up to 200 variable cells to be specified.
Variables referred to by various scopes are implemented using Cell objects. The local variables of each stack frame that accesses the value of such a variable contain a reference to the cells from outer scopes that also use that variable. For each such variable, a cell object is generated to store the value.
Variables can be categorised into two categories: numeric and category. Then, for categorical variables, nominal or ordinal subcategories are created for both discrete and continuous variables.
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spreadsheets are a common tool for cost estimating, cost budgeting, and cost control.
b It must be a definitive estimate and as accurate as possible.
Program Evaluation and Review Technique (PERT)
The most in many instances used method in three-point estimation approach makes use of the Program Evaluation and Review Technique (PERT) model.
Three kinds of estimates are determined earlier than using their common to arrive at the common fee estimate
What are the four 4 tools and methods to estimate charges in the assignment management?Image result
The 4 important analytical techniques or fee estimation methods used to strengthen price estimates for acquisition programs are Analogy, Parametric (Statistical), Engineering (Bottoms Up), and Actual Costs.
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What is the best thing that you can do for your financial future?
Set financial objectives, Establish a budget, Prepare for taxes and Establish an emergency fund are some of best things that you can do for your financial future.
What does the future hold for money?A current contract that calls for the delivery of a particular asset in exchange for the selling price at a particular date in the future.
Why should I plan for my future finances?If you have a written financial plan, you can work toward a measurable goal. You can reduce doubt or uncertainty about your decisions and make adjustments to help you overcome obstacles that could impede your progress because you can track your progress.
Why is financial success crucial?On a holistic level, financial success involves more than just having enough money and being financially stable. For the majority of us, success brings happiness and peace of mind. This can be accomplished with the assistance of setting objectives based on the things that are significant to you and your family.
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If the cross-price elasticity of demand for two goods is -4.5, then
a. the two goods are substitutes.
b. one of the goods is normal and the other good is inferior.
c. the demand for one of the goods conforms to the law of demand, but the demand for the other good violates the law of demand.
d. the two goods are luxuries.
If the cross-price elasticity of demand for two goods is 1.25, then the two goods are luxuries. the two goods are substitutes.
one of the goods is everyday and the different proper is inferior. the demand for one of the goods conforms to the law of demand, but the demand for the different exact violates the regulation of demand.
What is the cross-price elasticity of demand for two goods?Cross elasticity of demand refers to the way that adjustments in the price of one properly can have an effect on the volume demanded of some other good. This relationship can range depending on whether or not the two items are substitutes, complements, or unrelated to each other.
Is the go price elasticity between two items is negative then the two goods are in all likelihood to be?complements
We determine whether or not items are enhances or substitutes based totally on go price elasticity - if the pass price elasticity is superb the items are substitutes, and if the pass charge elasticity are poor the goods are complements.
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The investment adviser of the GEMCO Special Situations Fund would find which of the following companies least attractive for the fund's portfolio?
A)
GHI Technologies, whose new microchip devices have caught the attention of the largest manufacturer in the field
B)
JKL Transportation Services, a company preparing to report a profit for the first time in four years
C)
ABC Corporation, whose shareholders have just reelected the current board of directors
D)
DEF Pharmaceuticals, whose application for approval of a new disease-fighting drug will likely be approved by the FDA
The reelection of the current directors of the ABC corporation will least likely be found as an attractive element in the portfolio of the investment adviser of GEMCO Special Situations Fund. Therefore, the option C holds true.
A portfolio which has been created with the specific purpose of making investments in companies having special situations in their operations will not invest in the ABC corporation if they have reelected their current board of directors. This is because, reelection of the directors is not attractive or a special situation, as it takes place during regular intervals.
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Why is competition good for the consumer in a free enterprise system?
The competition in a free enterprise system is good for consumer because it allows consumer to have the ultimate voice in the economy, starting from the ultimte pices of goods, types of products needed, and whether a product is a success or a fail.
Free enterprise sytem or free market refers to an economy where the government role in the market and its intervention are limited almost to none. The government has almost zero control to the economy and allows the market to determine the products and prices.
Free enterprise system is not regulated by the government but by a set of legal rules, such as property rights, contracts, and competitive bidding. Free enterprise system beliefs that the government intervention would hinder the economy growth. Free enterprise system tends to result in capitalism.
Free enteprise system allows more freedom and aims for higher market efficiency from lower taxes and regulation. Free enterprise system ensures consumer rights and financial security and stability. Free enterprises system provides greater economic opportunities with lower entry and exit barrier to the economy. However free enterprise system might be more vulnerable to several economic crisis with no intervention from the government.
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Answer:
B
Explanation:
What is the cycle of money? Who participates in the cycle of money? What is the objective of a financial transaction?
The movement of cash (funds) from a lender to a borrower and back to the lender is the money cycle.
Who participates in the cycle of money?
The lender and borrower participates in the cycle of money.
What is the objective of a financial transaction?
An agreement or communication between a buyer and seller to exchange goods, services, or assets for payment is a financial transaction. A change in the financial situation of two or more businesses or individuals is the result of any transaction.
What exactly is a money cycle?The stages of a person's financial life are as follows: preservation, distribution, and accumulation Your risk tolerance and current life stage should guide your investment decisions.
What is the significance of the money cycle?Because it has a direct impact on stocks and bonds as well as profits and corporate earnings, an understanding of the economic cycle can assist investors and businesses in determining when to invest and when to withdraw their funds.
What are the two types of money?There are only two types of money, despite the fact that money can take on a remarkable variety of forms: money that does not have an intrinsic value and money that has one. Money that isn't used as currency is called commodity money. Commodity money can be seen in federal prisons in the form of mackerel.
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Which of the following stakeholder groups does not engage in regular transactions with a company?
a. Customers b. Local communities c. Special interest groups d. Governments
The stakeholder group that do not engage in regular transactions with a company is option D. Government
What is Government?Government refers to the organization and administration of the affairs of a community, society, or state. It typically involves the creation and enforcement of laws, the provision of public services, and the protection of citizens' rights and interests. Governments can take many forms, including democracies, dictatorships, monarchies, and federations, and can vary in their scope and level of power.
Therefore, the correct answer is as given above
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Which of the following determines the size and rate of growth of the money supply?
O Open markets
O Monetary policy
Grievance procedure
O Unionization
Any open-market operation is when the central banking authority buys and sells securities, occasionally also commercial paper, with the goal of continuously controlling the money supply and credit conditions.
Does the open market generate more money?The Federal Reserve engages in open market activities, which involve purchasing and selling of government bonds. When the Federal Reserve purchases a bond from a bank, that bank gains access to funds that it can use to make loans. There will be more money available. A purchase made on the free market contributes to the economy.
How do open market operations reduce the amount of money available?To purchase or sell securities to banks, the Fed uses open market operations. The Fed gives banks additional money to hold as collateral when it purchases securities, which
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Business ethics is a part of decision making Question 3 options: made primarily by top management. at all levels of work and management. that is less important than other decision making processes. that stems from individual moral philosophies.
In business, ethical decision-making is a strategy that prioritizes moral principles as a set of criteria rather than economic considerations in making business decisions.
Laws often guide business ethics, but business ethics can also provide basic guidelines that businesses can follow to gain public recognition.
Business ethics refers to the implementation of good business policies and practices, perhaps in relation to controversial issues.
Issues that arise in ethics discussions include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary duty. Laws typically set the course for business ethics and provide basic guidelines that businesses can follow in order to gain public recognition.
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what did dwight eisenhower explain as the opportunity cost of the nuclear buildup due to scarcity?
The opportunity cost of the nuclear buildup due to scarcity, as explained by Dwight Eisenhower, was that resources, both financial and human, that would have been used to fund other projects or initiatives were instead diverted to the nuclear buildup.
This, in turn, limited the ability of the government to fund other programs and initiatives that may have been of economic and social benefit.
The value of the next-highest-valued alternative use of a resource is what economists mean when they talk about its "opportunity cost."
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Method of moving average i epecially ueful in the cae of the time erie with ________. Select one:
a. Regular eaonal fluctuation
b. Regular cyclical movement
c. Regular irregular variation
d. All of thee
Method of moving average is epecially useful in the case of the time series with the regular seaonal fluctuation.
The moving average model is considered to be a time series model which tends to account for the very short-run autocorrelation. So, it tends to basically state that the next observation is the mean of every past observation.
However, the moving averages tend to have the property in order to reduce the amount of the variation which is said to br present in the data. Thus, in the case of the time series, this property is used to eliminate fluctuations, and so such process is called as the smoothing of time series.
Hence, option A is correct.
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Which of the following is not listed as a way to encourage ethical behavior at the organizational level?
A. Social responsibility audits
B. Shareholder analysis
C. Analysis of mission and goal statements
D. Ethics training
B). Shareholder analysis is not listed as a way to encourage ethical behavior at the organizational level.
Shareholder analysis refers to the financial analysis of a company's stock performance. This analysis is typically done to evaluate the company's financial health and does not have anything to do with encouraging ethical behavior.
Social responsibility audits, analyzing mission and goal statements, and ethics training are all viable ways to encourage ethical behavior in an organization. Therefore the correct answer is option b which is Shareholder analysis.
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George has been selling 5,000 T-shirts per month for $8. 50. When he increased the price to $9. 50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial actual markup? Was rasing the price profitable?
George has been selling 5,000 T-shirts per month for $8. 50. When he increased the price to $9. 50 he sold only 4,000 T-shirts. The demand elasticity is -0.2
What is Demand Elasticity?Demand Elasticity is inelastic if the elasticity is less than 1, which means that the quantity demanded does not change significantly as a result of changes in price. A markup is a distinction between cost and price
The following formula can be used to determine the demand elasticity:
Demand Elasticity = (% Change in Quantity Demanded) / (% Change in Price).
Demand dropped from 5,000 to 4,000 units as the price rose from $8.50 to $9.50, so:
Demand Elasticity = (-1,000/5,000) / (1/8.50) = -0.2.
Knowing the marginal cost, which is $4 per shirt, can help us determine the needed markup. Given that markup is a distinction between cost and price, the following formula can be used to determine the appropriate markup:
The desired markup = Price - Marginal Cost
Suppose the cost is $9.50 and the price is $9.50.
Markup = 9.50- 4
Markup = 5.50
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lbert uses FedEx in a scheme to defraud Global Sales Company by obtaining merchandise to which he is not entitled. -Found guilty of mail fraud, Elbert can be punished by jumprisonment for up to fifty years. b. imprisonment for up to twenty years and/or fines. Pages c. fines up to $5 million, d. none of the choices.
Elbert uses FedEx in a scheme to defraud Global Sales Company by obtaining merchandise to which he is not entitled. -Found guilty of mail fraud, Elbert can be punished by none of the choices.
According to the given statement Elbert is found guilty of mail fraud. He cannot be punished by imprisonment up to fifty years or imprisonment for up to twenty years or a fine upto $5 million.
When someone intends to commit postal fraud by delivering something that involves fraud through the mail, they are breaking the law. The use of a physical or electronic mail system to defraud another is referred to as "mail fraud" or "wire fraud" in the United States, where it is a federal crime. The federal government asserts jurisdiction if the illicit behavior spans national or international boundaries.
According to the question, Elbert utilizes FedEx to cheat Global Sales Company by receiving goods to which he is not legally entitled. In this situation, mail fraud will result in a maximum 20-year jail sentence and/or financial penalties.
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Explain how conflict management depends on a study of interpersonal communication. Why should we study conflict
"An stated conflict involving at least two interdependent parties that see competing objectives, scarcity of resources, and outside interference with their objectives".
The goal of effective conflict resolution techniques is to prevent arguments from getting worse . You'll be better able to teach and learn from people in both the professional and personal resources if you have dispute interdependent abilities. It will be highly beneficial for every employee to get to know one another and to avoid conflicts that could result in labour disputes through effective interpersonal communication. Openness and empathy are the two aspects of interpersonal communication that are most important in reducing labour conflict.
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Do you think organizations differ from each other when placing importance on areas of the SWOT analysis
Every organization or company will have a different basic SWOT analysis. This is because each organization has different goals, challenges, visions and missions.
In economy and business, SWOT (strengths, weaknesses, opportunities, and threats) analysis generally can be described as a strategic management technique and also strategic planning used to help a company or organization identify Opportunities, Strengths, Weaknesses, and Threats related to project planning and also business competition. SWOT (strengths, weaknesses, opportunities, and threats) analysis sometimes called situational assessment or situational analysis. Each organization or company have their own SWOT analysis through their vision.
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Why economics say all resources are scarce?
Because no one can have an unending supply of anything, all resources are limited. There will eventually be a limit. Hence economics say all resources are scarce.
Economic resources are rare for more reasons than just their scarcity. It is not independent. It must be compared to other ideas, such as needs and wants. Because there aren't enough resources to meet all of our needs and wants, there is scarcity. Alternative economic options arise because of scarcity. Then, economists develop numerous hypotheses about how to make these decisions in order to achieve the best results. Finally, they attempt to understand and study the nature of the choices that economic agents, such as consumers and producers, confront using a variety of theories and methodologies.
Our wants and needs are endless. We do not have enough resources to fulfill them, though. Then scarcity emerges. Therefore, the explanation for scarcity is that there isn't enough of it to satisfy an endless need. Scarcity, as well as economics, would not exist if our needs and wants were unending.
Money and time are only two examples of the many forms that resources may take. In contrast, it simply refers to the resources utilized to create commodities and services in economics. In addition, economics connects wants and needs to available resources. Economic decisions regarding how to distribute resources to their best use are influenced by scarcity.
Economists create theories of consumer choice and production possibility curves in microeconomics. Consumer choice theory, for instance, describes how customers optimize their happiness by taking their budget into account.
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2)Tamara is a real estate agent and makes 5% commission on her total sales. She sells a home that worth $350,000. What is her commission
$17,500 is her commission. Tamara receives 5/100 of the entire sale if the commission is 5%. She receives 5/100 of the total amount if she sells a house for $350,000.
How much commission on average do real estate brokers receive?It should be noted that although if the national average for commission rates is between 5% and 6%, not all agents will definitely earn that amount. Different businesses could have different prices. a few independent brokerage firms, such Simple Showing.
Which commission rate is ideal?These incentives frequently take the shape of commissions in the sales industry; a commission is an additional payment made on top of a normal salary that is determined by the volume of sales that a person contributes.
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Question:
Tamara is a real estate agent and makes 5% commission on her total sales. She sells a home that worth $350,000. What is her commission? A) $17 B) $175 C) $1,750 D) $17,500
The first step in the delegation process is
Choose matching definition
1 a hierarchy
2 defining the goal
3 analyzing the organizational chart
4 performing a sensational analysis
Defining the goal is the first stage in the delegation process.This is the matching definition.
What is delegation process?
Delegation is the process of assigning authority and responsibility to a subordinate in order to accomplish a task. The delegation process involves transferring some of the decision-making power and authority from the superior to the subordinate. It is an important tool for managing workload, improving efficiency, and driving results. The delegation process involves clearly defining the scope of authority and responsibility that the subordinate has been delegated and the expectations of the delegate. The superior must also provide the resources, information, and support necessary for the delegate to accomplish the task successfully.
So, The correct option is 2) defining the goal.
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the ____ help desk position is normally staffed by an entry-level employee.
Answer:
hotel
Explanation:
I put this as a guess if what the answer could be
Compared with other types of retailers, department stores compete mainly on the basis of a) customer services. b) low prices.
When compared to other types of retailers, department stores compete primarily on price. a) customer services.
Instead of low costs, department shops often compete primarily on the strength of their client services. They provide a vast array of goods and services, including apparel, electronics, home items, and more. They also have elements that set them apart from other kinds of merchants, such personal shopping, style, and financial services. Along with a variety of items, stores also offer a wide range of services, such as personal shopping, styling, and finance services. Along with their extensive selection of goods and services, they also provide a distinctive shopping environment. Although some department shops may also have affordable pricing, it's important to note that they don't primarily compete on the basis of price.
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Suppose a market basket consists of the following goods: 50 pens, 25 notepads, and 25 paperclips. Also assume that the unit prices of these goods are as follows for the years noted and that 2018 is the base year. What is the value of the price index in 2019
The value of the price index in 2019 is 111.
What is cost record and how is it calculated?
The Customer Cost Record (CPI) measures the month to month alter in costs paid by U.S. customers. The Bureau of Labor Insights (BLS) calculates the CPI as a weighted normal of costs for a wicker container of products and administrations agent of total U.S. customer investing.
CPI = Expenditure ins Current Years / Expenditure in Base year
= 50X 0.30 + 25 x 0.25 + 25x0.15 x100 / 50 x 0.25 + 25 x 0.30 + 25 x0.10
=25X 100/22. 5
=111.11%
Hence, rate of inflation = (111.11-100)%
=11.11%
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Inflation that occurs when total spending is greater than the economy's ability to produce output at the existing price levels is
However, "demand-pull" inflation occurs when this increase in demand exceeds an economy's production capacity and puts a strain on resources.
Which four kinds of inflation are there?There are four distinct types of inflation based on speed: hyperinflation, galloping, walking, and creeping.
What exactly is cost-push inflation, exactly?Cost push inflation is when prices for inputs like labor, raw materials, and so on rise. The supply of these goods decreases as a result of the increased cost of the production factors.
When does inflation happen?When the cost of goods and services rises steadily over a long period of time, you lose your ability to buy them. There are many things that can cause high inflation. However, economists frequently classify the underlying causes into two groups: Cost-push inflation and demand-driven inflation.
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Audit firms are increasingly considering operational data such as manufacturing logs, customer relationship management data and supply chain data primarily to
Audit firms are increasingly considering the operational data such as production logs, customer relationship management data, and supply chain data to provide a more comprehensive view of an organization's financial health.
By incorporating this data into an audit, companies are now able to detect the anomalies that could indicate fraud or errors. In addition, supply chain data can provide information about the sources of supplies and the costs of those supplies, helping to identify potential errors in the cost reporting. Ultimately, by incorporating operational data into the audit process, companies are able to uncover potential problems that might otherwise go undetected.
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Suppose Ruston Company has the following revenue and expenses for 2020: Revenues of $7,800,000 Cost of Goods Sold of $1,560,000 Depreciation Expenses of $700,000 Income Taxes of $1,676,000 Interest Expenses of $70,000 Other Expenses of $500,000 Sales, General, & Administrative Expenses of $780,000 Create an income statement with amounts in thousands What is the value of Net Income? Note: Revenue and expense amounts are provided in dollars but the income statement units are thousands of dollars. Please specify your answer in the same units as the income statement (i.e., enter the number from your completed income statement).
Net Income on the income statement is $4,190,000 in thousands of dollars.
Explain about the revenue and expenses?Earnings from the sale of a company's primary goods or services are referred to as revenue. A cost incurred when producing or offering a crucial business service is referred to as an expense.
The phrase "revenue expenditure" refers to charges made by an organization in the course of routine business activities, the benefit of which will be realized in the same time frame. Examples include the cost of living, utilities, salaries, insurance, commissions, and manufacturing.
Expenses are what a company pays to run its operations. Expenses include things like pay, benefits, rent, upkeep, and depreciation. Revenue is deducted from expenses to arrive at profits.
Calculating total expenses is as follows:
$1,560,000 + $700,000 + $1,676,000 + $70,000 + $500,000 + $780,000 = $5,286,000
Pre-tax income is calculated using the following formula:
Income - Expenses (excluding income tax expense)
$7,800,000 - $3,610,000 = $4,190,000
To determine net income, use the following formula:
Income - Expenses
$7,800,000 - $5,286,000 = $2,514,000
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Which of the following strategies is not an effective strategy to reduce monopoly inefficiency? a. antitrust laws b. price discrimination c. doing nothing d. breaking up a natural monopoly into more than one firm
The inefficiency of monopolies cannot be reduced through price discrimination.
Monopoly is a cooperative board game with an economics theme. Players travel around the game board by rolling two dice in order to purchase, trade, and develop real estate, including homes and hotels. Players try to bankrupt their competitors by collecting rent from them. Tax squares, Chance cards, and Community Chest cards are additional methods to win or lose money. Each time a player passes a "Go" signal, they are rewarded. They can also be detained and prevented from being released unless one of three requirements is satisfied. There are house rules, numerous spin-offs, countless editions, and connected media. With local licenses in more than 103 nations and printing in more than 37 languages, Monopoly has been ingrained in global popular culture.
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A time-ordered plot of representative sample statistics is called a:
A. Gantt chart
B. SIMO-chart
C. Control Chart
D. Up-Down Matrix
E. Standard deviation table
A Chart control is a time-ordered plot of representative sample statistics. Pairs of control charts are used for variable data.
What is the purpose of a control chart?A graph called a control chart is used to examine how a process changes over time. The data are plotted chronologically. A control chart always has an upper line for the upper control limit, a lower line for the lower control limit, and a central line for the average. The data from the past are used to determine these lines. You can determine whether the process variation is consistent (under control) or unpredictable (out of control, influenced by specific causes of variation) by comparing the current data to these lines. This adaptable instrument for data collection and analysis is regarded as one of the seven fundamental quality tools and can be utilized by a variety of industries.
The process's average, or the centering of the data distribution, is tracked in the top chart. The range, or the width of the distribution, is tracked by the chart at the bottom. If your data were shots taken during target practice, the average indicates where the shots cluster, and the range indicates how tightly they cluster. Single control charts are utilized for attribute data.
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