Answer:
a) true
Explanation:
Cash basis of accounting is the recognition of transactions when the cash is paid or received not when they occur or incur. When an entity does not have substantial credit transactions or inventories it is convenient for them to use the cash basis since these credit transactions do not happen frequently.
Calculate price of a 25-year annuity making a $60 annual payment, discounted at 5%.
Answer:
the price of a 25-year annuity is $845.64
Explanation:
The computation of the price is as follows:
The price of a 25-year annuity is
= Annual payment × ((1 - (1 + discounted rate)^(number of years)) ÷ discounted rate)
= $60 × ((1 - (1 + 5%)^(-25)) ÷ 5%)
= $845.64
hence, the price of a 25-year annuity is $845.64
Therefore it could be determined by applying the above formula so that the price could come
Under absorption costing, fixed manufacturing overhead costs are a ________ cost.
a. carried in a liability account.
b. carried in an asset account.
c. ignored.
d. immediately expensed as a period cost.
Answer:
b. carried in an asset account.
Explanation:
Under the variable costing method, manufacturing overheads are expensed in the period they are incurred, hence, the last option is wrong.
Also,there is no costing method wherein manufacturing overheads expenses are ignored, as a result, option c is also obviously incorrect.
The treatment of manufacturing overheads using absoprtion costing is they are added to the cost of products which are also shown in the balance sheet as an asset .
Trade restrictions Group of answer choices Reduce the gains from trade for the country as a whole. Increase the gains from trade for poor countries. Reduce the number of hours employees must work. Increase the standard of living for the country as a whole.
Answer:
reduce the gains from trade for the country as a whole.
Explanation:
The theories of the international trade recommended that the trade restrictions do not permit the country to distribute its resources in the case when there is a competitive advantge. Due to this, the consumer lost because of the higher prices and also the producer would continue to exhibit the productivity that would be poor. In addition to this, there is a loss to loss situation.
Therefore as per the given situation, the first option is correct
Drag each credit plan to its description.
revolving credit
installment account
charge card
Borrowers have a fixed credit line that is replenished as the outstanding balance is paid off.

Borrowers have to make regular payments under fixed terms.

Consumers can shop using credit at specific locations.

Answer: (1)revolving credit, (2)installment account,& (3)charge card
Explanation:
(1)Borrowers have a fixed credit line that is replenished as the outstanding balance is paid off.

(2)Borrowers have to make regular payments under fixed terms.

(3)Consumers can shop using credit at specific locations.
Answer:
Borrowers have a fixed credit line that is replenished as the outstanding balance is paid off. -Revolting Credit
Consumers can shop using credit at specific locations. -Charge Card
Borrowers have to make regular payments under fixed terms. -Installment Account
I took the test on plato and got it right
Two investment centers at Marshman Corporation have the following current year income and asset data
Investment Center A 440,000 2,900,000
Investment Center B 550,000 2,200,000
Investment center income
Investment center average invested assets $ $ $
The return on investment (ROI) for Investment Center A is:___________
Answer: 15.17%
Explanation:
Based on the information provided in the question, the Return on investment would be calculated as:
= Net income / Average assets
Therefore, The return on investment (ROI) for Investment Center A would be:
= 440000 / 2900000 × 100
= 15.17241%
= 15.17%
Which of the following is an example of a general partnership?
a. Yvonne opens her first business selling sporting goods. She hires a marketing manager, an accountant, and several sales staff to help her manage the demand for her goods. When she files her annual taxes, she claims 100% of the profits of the business on her individual tax return.
b. Stefanie's photography business has grown so quickly that she needs to invest in more equipment. She brings in a partner who provides the capital to purchase the new equipment, but who has no control over the day-to-day operations of the business.
c. Jonathan and Craig's catering business is going through a rough patch wherein the debts exceed the income. Jonathan is worried because he is personally liable for the whole of the company's debts, but Craig is only liable for the initial $50,000 that he invested.
d. Ken and Paul start a graphic design business together. When Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages.
Answer:
d. Ken and Paul start a graphic design business together. When Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages.
Explanation:
A general partnership is one where more than two people are involved in the running of a business and each bears an unlimited liability in the obligations of the business.
The partners share profit and losses from the business activities.
The scenario where Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages. Is a perfect example of a general partnership.
Both partners share in the loss that results from business activity.
If Compu-Globo established a merit pay program, which of the following would be true?
a) All of these choices are correct.b) It guarantees that employees are only rewarded on the basis of ability and motivation.c) It would be inexpensive to implement and maintain.d) It could become expensive quickly.e) Teamwork would likely increase among Compu-Globo employees.
Answer:
If Compu-Globo established a merit pay program, the following would be true:
b) It guarantees that employees are only rewarded on the basis of ability and motivation.
Explanation:
With a merit pay program, each worker is rewarded based on their performance. One big advantage of the merit-based pay is that each individual is paid for his or her worth. However, its major pitfalls are that it is very subjective, and it increases unhealthy competition among individuals. This increased competitiveness may not be beneficial to the organization's objectives.
Select the true statement about the relationship between law, ethics, and business.
a. People generally have similar opinions on what actions or conduct are called moral, and the marketplace rewards businesses that conduct themselves in such a manner.
b. Each person has a different definition of what is moral or ethical, so it is not possible for businesses to know what qualifies as ethical conduct.
c. The marketplace is generally unconcerned with whether or not businesses conduct themselves morally, since morality is difficult to define.
d. Since morals and ethics are not objective and cannot be specifically measured, the relationship between the value of a business and its ethical conduct is murky at best.
Answer:
A
Explanation:
Marigold Corp. has fixed costs of $2200000 and variable costs are 20% of sales. What are the required sales if Marigold desires net income of $200000
Answer:
$10,000
Explanation:
The required sales is calculated as;
= Fixed costs + Desired profit / Contribution margin ratio
Given that;
Fixed costs = $2,200,000
Desired profit = $200,000
Variable cost = 20% of sales
Sales = X
Contribution margin ratio =
X = $2,200,000 + $200,000 /
The value of the consumer price index (CPI) is best described as the:__________
Answer:
current year prices to base year prices, holding the market basket content constant.
Explanation:
The CPI as a form of measurement, gives an examination of the weighted average of what is the cost or prices of a basket of consumer goods and services, transport, food, and medical services. We can calculate this when we take the changes in price of every singular item in the basket of goods and finding the average.
It's value can best be described as current year prices to base year prices, while holding the market basket fixed.
Suppose Yummy Treats Bakery issues common stock in exchange for a building. Yummy Treats Bakery should record the building at A. its market value. B. its book value. C. a value assigned by the board of directors. D. the par value of the stock given.
Answer:
A) Its market value
Explanation:
From the question, we are informed about Yummy Treats Bakery which issues common stock in exchange for a building. In this case Yummy Treats Bakery should record the building at its market value. Market value can as well be regarded as "open market valuation" it can be explained as the price an asset would bring as value in a market or in a auction setting i.e a compititive setting. It is the worth of an asset or company in financial market which is base on the participants in the market.
Top Sound International designs and sells high-end stereo equipment for auto and home use. Engineers notified management in December 2021 of a circuit flaw in an amplifier that poses a potential fire hazard. Further investigation indicates that a product recall is probable, estimated to cost the company $4 million. The fiscal year ends on December 31.
Required:1. Should this contingent liability be reported, disclosed in a note only, or neither? Explain.2. What loss, if any, should Top Sound report in its 2021 income statement?3. What liability, if any, should Top Sound report in its 2021 balance sheet?4. What entry, if any, should be recorded?
Answer:
Top Sound International
1. The contingent liability should be reported in the financial statements. According to generally accepted accounting principles, a contingent liability must be recognized in the financial statements, if at the end of the accounting period, it is established that the liability is likely to occur and the amount of the contingent liability can be reasonably estimated.
2. The amount of the loss that should be reported by Top Sound in its 2021 income statement is $4 million.
3. The liability that Top Sound should report in its 2021 balance sheet is a contingent liability of $4 million.
4. The entry is a debit to the Contingent Loss Account and a credit to the Contingent Liability in the sum of $4 million.
Explanation:
a) Data:
Cost of product recall = $4 million
b) This product recall will give rise to contingent liability and loss in the financial statements of Top Sound. To establish this liability, Top Sound first recognizes it in the income statement as a loss before recording it in the balance sheet as a contingent liability. A contingent liability should be recognized when the event is likely, and the amount of the liability can be reasonably estimated.
Which of the following is a provision of the CARD Act? Group of answer choices Lenders cannot bribe an appraiser to misstate a home's value. Manufacturers must report all potentially hazardous product defects within 24 hours of discovery. Credit card bills must be mailed at least 21 days ahead of their due dates. All of these are correct.
Answer:
Credit card bills must be mailed at least 21 days ahead of their due dates.
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
CARD is an acronym for Card Accountability Responsibility and Disclosure and it is an act (federal statute) signed by President Barack Obama on the 22nd of May, 2009 after it was passed by the Congress of the United States of America.
A provision of the CARD Act is that, Credit card bills must be mailed at least 21 days ahead of their due dates so as to avail the card holders (users) an ample amount time to pay from the time it was mailed.
An attempt to gain control of the firm by buying sufficient shares of the target firm in the marketplace is known as a ________ and is typically accomplished through a ________.
a. friendly takeover; tender offer
b. hostile takeover; merger
c. friendly takeover; merger
d. hostile takeover; tender offer
Answer:
d. hostile takeover; tender offer
Explanation:
The hostile takeover is the transaction of the merger in which the management of the firm i.e. targeted would not support and acquirer could attempt to gain the control for purchasing the enough shares. And this could be achieved via a tender offer
Therefore as per the given situation, the option d is correct
hence, the same is to be considered
What is the effect of an increase in the price of fuel on the transportation services market where fuel is an input
Answer:
The supply will decrease.
Explanation:
Here are the options to this question :
A. The supply will increase.
B. The demand will decrease.
C. The supply will decrease.
D. The demand will increase.
Due to the increase in price of fuel, the cost of purchasing fuel would increase and this would make it more expensive to run transportation services. As a result, the supply of transportation services would fall. this would shift the supply curve for transportation services leftward. This would lead to a rise in price of transport services and a decrease in quantity suoplied.
Please check the attached image for a graph explaining this concept
Helen,a manager for Marshall Manufacturing,spends much of her time reviewing the global,technological,socio-cultural,competitive,and economic factors that can influence the success of her firm's marketing efforts.Helen's efforts indicate that she is involved with environmental scanning. Environmental scanning is the process of identifying the factors than can affect marketing success.
a. True
b. False
Answer:
a. True
Explanation:
The environment scanning means the scanning of the environment. In this, the information is collected with respect to the events and their relationship of an organization that could be internal and external. The main motive of this is to be measure the direction of the organization in near future
Also it identified the factor that impacts the success of the marketing
Therefore the given statement is true
At a nominal interest rate of i convertible semi-annually, an investment of 1000 immediately and 1500 at the end of the first year will accumulate to 2000 at the end of the second year. Under the same interest rate, what is the present value of 1000 paid at the end of the fifth year?
Answer:
The answer is "869.76"
Explanation:
Given value:
[tex]CF_0=-1000\\\\CF_1=-1500\\\\CF_2=2000\\\\CPT \ IRR =2.8342\%\\\\[/tex]
[tex]\to Nominal\ Rate =2\times ((1+2.8342 \%)^{((\frac{1}{2})-1)}[/tex]
[tex]=2\times ((1.28342)^{(\frac{1}{2})-1}) \\ \\=2\times ((1.28342)^{(\frac{1}{2})-1}) \\\\ = 2.81\%[/tex]
[tex]\to 1000 = P (1+ \frac{2.83}{100})^5 \\\\\to 1000 = P (1+ 0.0283)^5\\\\\to P = \frac{1000}{(1+ 0.0283)^5}\\\\[/tex]
[tex]= \frac{1000}{1.14973878}\\\\= 869.76[/tex]
Assuming that the direct materials used are $1520000, compute the total manufacturing costs using the following information. Raw materials inventory, January 1$ 20000 Raw materials inventory, December 3140000 Work in process, January 118000 Work in process, December 3112000 Finished goods, January 140000 Finished goods, December 3132000 Raw materials purchases1540000 Direct labor760000 Factory utilities150000 Indirect labor50000 Factory depreciation400000 Operating expenses420000
Answer: $2,880,000
Explanation:
= Direct costs + Indirect costs
= Direct labor + Direct materials + Indirect labor + factory utilities + factory depreciation
= 760,000 + 1,520,000 + 50,000 + 150,000 + 400,000
= $2,880,000
Picture yourself as a member of the administration team of a 253-bed healthcare facility. The community where the facility is located has a large corporation moving to town that is going to bring in 7,500 new jobs. Building has started to accommodate the higher population in the community. The administration team has decided to expand the healthcare facility by 150 beds, including expansion of the emergency department and two new intensive care units in preparation for the increased population in the community. The healthcare organization needs to obtain funding for the expansion. What type of financing would you be looking for (equity or debt) and why?
Answer: Debt Financing
Explanation:
Reasons to get Debt financing in this scenario:
It will be easier to obtain than equity as this is a healthcare facility and operations are about to pick up. The increased population and standard of living from the new jobs will ensure that the centre can afford interest repayment. Debt financing ensures that the ownership of the facility will not become diluted or taken over by entities that may not have best interests at heart.Calculate the current yield of this bond: (Round your answer to the nearest tenth percent.)
Bond Current Yield Vol Close Net Change
Action 11 22 10 102 1.25
Current yield __________%
Answer:
11%
Explanation:
Note: Kindly observe the organized question is attached as picture below
FV = 1000
Coupon amount = 1000*11.22% = 112.2
Close price = 102%
Price of bond in amount = Face value * quoted%
Price of bond in amount = 1000 * 102%
Price of bond in amount = 1020
Current yield formula = Coupon amount/price of bond
Current yield formula = 112.2/1020
Current yield formula = 0.11
Current yield formula = 11%
During January, its first month of operations, Dieker Company accumulated the following manufacturing costs: raw materials $5,800 on account, factory labor $7,300 of which $5,500 relates to factory wages payable and $1,800 relates to payroll taxes payable, and factory utilities payable $2,100. Prepare separate journal entries for each type of manufacturing cost.
Answer:
(a) Dr Raw Materials Inventory 5,800
Cr Accounts Payable 5,800
(b)Dr Factory Labor 7,300
Cr Employer Payroll Taxes 1,800
Cr Factory Wages Payable 5,500
(c) Dr Manufacturing Overhead 2,100
Cr Utilities Payable 2,100
Explanation:
Preparation for separate journal entries for each type of manufacturing cost
(a) Dr Raw Materials Inventory 5,800
Cr Accounts Payable 5,800
(Being the Purchases of raw materials on account)
(b)Dr Factory Labor 7,300
Cr Employer Payroll Taxes 1,800
Cr Factory Wages Payable 5,500
(Being To record factory labor costs)
(c) Dr Manufacturing Overhead 2,100
Cr Utilities Payable 2,100
(Being To record entry for utilities payable)
Which scenario below is an example of complementary products, based on their cross-price elasticity?A. Bananas and lettuce, with an elasticity of 0. B. Shampoo and conditioner, with an elasticity of 3.5. C. Coffee and tea, with an elasticity of 2.25. D. Green salsa and red salsa, with an elasticity of 2.75.
Answer: B. Shampoo and conditioner, with an elasticity of -3.5.
Explanation:
Complimentary products are those which see their quantity demanded move together because the goods usually compliment each other like tea and sugar.
Their Cross-price elasticity shows this by being a negative figure. This is because when the price of one commodity goes up, the quantity demanded of the other goes down because higher prices lead to lower quantity demanded.
The actual question showed that Conditioner and Shampoo had a cross-price elasticity of -3.5 so this is the correct answer.
Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $105,000. The equipment will have an initial cost of $473,000 and have a 10 year life. If the salvage value of the equipment is estimated to be $84,000, what is the payback period?A. 10.00 yearsB. 5.25 yearsC. 4.50 yearsD. 3.29 years
Answer:
D. 3.29 years
Explanation:
Payback period = Initial cost / (An annual increase in net income after tax + Depreciation per year )
Payback period = $473,000 / [$105,000 + ($473,000-$84,000)/10]
Payback period = $473,000 / [$105,000+$38,900
Payback period = $473,000 / $143,900
Payback period = 3.28700
Payback period = 3.29 years
Which of the following stocks is LEAST sensitive to the movement of the overall stock market?
a. Starbucks
b. Home Depot
c. Amazon
d. Intel
Answer:
a. Starbucks
Explanation:
Stock markets maybe defined as the collection of exchanges and the markets where the activities of buying, selling and the issuance of the shares of various publicly-held companies takes place.
In the context, Starbucks is the least sensitive to the movement of overall stock market as the stocks with the least beta will be the least sensitive to the movement.
The Starbucks stock is LEAST sensitive to the movement of the overall stock market.
The following information should be considered:
The stock market refers to the collection of the exchanges & the marketing in which the purchasing & selling of shares are to be done. Also, Starbucks should be the least sensitive as it contains the least beta.Therefore we can conclude that The Starbucks stock is LEAST sensitive to the movement of the overall stock market.
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Arthur, an Air Force major, received a permanent change of station transfer from Alabama to Spain. His spouse did not accompany him and, instead, moved from Alabama to her parents' home in California. If she received a $7,500 relocation allowance and was later reimbursed an additional $2,500, how much of the $10,000 moving allowance she received, if any, must she include in her income
As a spouse of an Air Force major, Mrs. Arthur is not expected to include any amount of the $10,000 given to her as relocation allowance in view of her husband's permanent change of status transfer.
If she was granted an amount that was more than her relocation expenses, then she must include the excess amount in her income. This question did not indicate that there was an excess. Instead, there was a shortage for which she was reimbursed an additional $2,500.
Thus, the amount that she would include in her income from the relocation allowance is $0.
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The amount that she would include in her income from the relocation allowance is $0.
A relocation allowance is an allowance given to an officer for relocating to another location away from home.
Here, the spouse of an Air Force major (Mrs. Arthur) is not expected to include any amount of the $10,000 given to her as relocation allowance in view of her husband's permanent change of status transfer.
Since she was granted an amount that was more than her relocation expenses, then, she must not include any amount in her income.
In conclusion, the amount that she would include in her income from the relocation allowance is $0.
Learn more about Relocation allowance
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describe the features of an oligopolistic market?
Answer:
see below
Explanation:
An Oligopoly market structure is one that has few firms dominating an industry with many buyers. The few firms may be selling an identity or differentiated product.
The features of an oligopoly market include
1. Heavy Advertising
Each of the firms will advertise to win customers. Because the firms offer similar or differentiated products, there is heavy advertising to try to get a bigger market share.
2. Interdependence
There are few firms competing for many buyers. What one of the firms does elicits reactions from the others. If one of the firms reduces its prices, there are higher chances that the others will also follow suit. To avoid unhealthy competition, these firms engage in collaborations.
3. Barriers to Entry
It requires heavy capital expenditure to participate in an oligopoly market. The amount of capital required acts as a barrier to entry. The domination by a few firms and intense advertisement scares away new entrants.
4. Price-setters
Each firm is able to set its price. All the firms do not sell uniform products; hence they are able to set their pri
The annual report for a hospital shows that external environment factors are affecting the amount of new staff hired. What is a likely factor contributing to this outcome?
a. The recent implementation of becoming a not-for-profit institution
b. The implementation of a hospital electronic medical record system
c. A national recession that has been occurring for 3 years
d. The closure of a hospital-based school of nursing due to lack of funding
Answer:
c. A national recession that has been occurring for 3 years
Explanation:
In the case when the annual report of the hospital represent that the factors of the external environment impacting the new staff i.e. hired amount so the result that contribute is that there is a national recession that could be arise for the three years
hence, the same is to be considered
Therefore the correct option is c.
what possible happen if anti trust law would be removed
Answer:
Antitrust laws are laws that aim to promote competition between traders, among other things, avoiding market failures such as cartels and monopolies. Antitrust laws are important in a modern market economy and are defended in all the economic systems that guarantee the presence of the state as a market regulator. If there were no such laws, there would inevitably be the generation of different monopolies that would control the market for a certain good or service, which would limit the ability of consumers to choose and their access to better prices as a result of competition between companies. Business.
Joe Donney operates a roller skating center. He has just received the monthly bank statement at August 31 from Citizens National Bank, and the statement shows an ending balance of $638. Listed on the statement are an EFT rent collection of $375, a service charge of $9, two NSF checks totaling $137, and a $20 charge for printed checks. In reviewing his cash records, Donney identifies outstanding checks totaling $756 and an August 31 deposit in transit of $1,695. During August, he recorded a $280 check for the salary of a part-time employee as $28. Donney’s Cash account shows an August 31 cash balance of $1,620. How much cash does Donney actually have at August 31, 2014?
Answer:
Donney actually have $1,577 at August 31, 2014
Explanation:
Prepare a Bank reconciliation to determine the accuracy of the Cash Balance using the following steps
Step 1
Update the Cash Book (Bank Column) Balance
Cash Book (Bank Column)
Debit :
Balance as at August 31 $1,620
Rent collection $375
Total $1,995
Credit :
Service charge $9
Dishonored Checks $137
Printing Charge $20
Error : Understatement $252
Balance as per updated CB $1,577
Total $1,995
Step 2
Prepare a Bank Reconciliation Statement
Bank Reconciliation Statement as at August 31
Balance at Bank as per updated Cash Book $1,577
Add Unpresented Checks $756
Less Lodgements not yet credited ($1,695)
Balance as per Bank Statement $638
Conclusion :
Now that we have reconciled the Updated Cash Balance of $1,577 to the Bank Statement we can safely say Donney actually has $1,577 cash at August 31, 2014.
WaterwayCompany has the following equivalent units of production for July: materials 15460 and conversion 11540. Production cost data are: Materials Conversion Work in process, July 1 $ 7300 $ 3700 Costs added in July 70000 54000 The unit production costs for July are: ________
a. $4.53
b. $4.68
c. $5.00
c. $5.00
d. $5.00
e. $4.68
f. $4.53
g. $5.00
Answer:
c. $5.00 & $5.00
Explanation:
Materials Conversion
Work in process July 1 $7300 $3700
Cost added in July $70000 $54000
Total Cost (A) $77,300 $57,700
Equivalent unit for July (B) 15460 11540
Production Cost (A/B) $5 $5