Amy can study for an hour or spend that hour sleeping or going out for dinner. if she decides to study for the hour, the opportunity cost of the hour spent studying is sleeping or going out for dinner, whichever she would have preferred the most.
The law of supply and demand combines two fundamental economic principles that explain how changes in the price of a resource, commodity, or product affect its supply and demand.
When prices rise, supply increases while demand decreases. Conversely, when prices fall, supply narrows while demand increases.
The supply and demand levels for various prices can be plotted on a graph as a curve. The intersection of these curves marks the equilibrium, or market clearing price where demand equals supply, and represents the process of finding prices in the market.
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What accounting concept justifies the usage of depreciation and amortization policies?
Depreciation and amortization policies are appropriate when using the going concern assumption accounting concept.
What Is the Issue?
A corporation is referred to as a "going concern" in accounting when it has the financial capacity to carry on doing so until it can show otherwise. This phrase also describes a business's capacity to generate enough revenue to stay in business or avoid going out of business. A company that is not a going concern has filed for bankruptcy and had its assets sold. For instance, following the tech bust in the late 1990s, many dot-coms are no longer operating as going concerns.
What the going concern principle means
Business operations for accumulated or prepaid expenses would be impossible without it. The going concern principle enables a business to postpone the recognition of some of its prepaid expenses to later accounting periods rather than all of them at once.
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The principle that trade can make everyone better off applies to interactions and trade between.
The principle "that trade can make everyone better off" applies to interactions and trade between families, states within the United States, and nations.
What is trade?A trade is defined as an exchange of goods or services between two parties. The mechanism that enables trade is a market. When a nation exchanges its surplus for a resource that another nation can give, it is trading. This is when a nation takes advantage of its wealth of resources.The tea trade, wherein tea is imported from China and bought in the US, is an illustration of trade. The elimination of world poverty depends on trade. International trade-friendly nations tend to develop more quickly, innovate, boost productivity, and give their citizens greater opportunities and higher incomes. By making goods and services more accessible to customers, open trade also benefits people with lower incomes.Learn more about trade here:
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Managers are often assigned to supervise several concurrent audit engagements.
true or false
True, Managers are often assigned to supervise several concurrent audit engagements. Below you can read more about managers and Managerial responsibilities.
Who is a Manager
A manager refers to a person whose role is to control or administer a group of staff in an organization. Managers are often top ranking personnel in an organization and their major function is to supervise other employees and direct them towards achieving the goals and mission of the organization.
Managerial Responsibilitythe major responsibilities of manages include the following
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The feature that distinguishes loss contingencies from other liabilities is the:_____.
The feature that distinguishes loss contingencies from other liabilities is the uncertain Outcome.
Fixed assets are property and buildings that a firm expects to use for more than?
Fixed assets are land and buildings that a business anticipates using for more than a year.
Describe fixed assets.A business seeks to create income over the long term by using fixed assets.The most widely used phrase to describe fixed assets is "property, plant, and equipment."Any asset that is anticipated to be sold for cash or used within a year is considered a current asset.Along with fixed assets, noncurrent assets also include long-term investments and intangibles.Intangibles are amortized, whereas fixed assets are subject to depreciation to account for the decrease in value as the assets are utilized.To know more about Fixed assets visit:
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Roi is most appropriately used to evaluate the performance of:_______
a. revenue center managers.
b. both profit center managers and investment
c. center manager
Roi is most appropriately used to evaluate the performance of both profit center managers and investment Option(b) is correct. ROI is a well known metric as a result of its flexibility and effortlessness.
What is Rate of Investment?Return on investment (return for money invested) is a presentation measure used to assess the productivity or benefit of an investment or look at the effectiveness of various investments.
Basically, ROI can be utilized as a simple measure of an investment's productivity. This could be the ROI on a corporate security, the ROI an organization anticipates on extending a plant, or the ROI created in a land transaction.
The actual calculation is straightforward, and it is generally simple to decipher for its great many applications. On the off chance that an investment's ROI is net positive, it is likely beneficial. Yet, assuming different open doors with higher ROIs are accessible, these signs can help financial backers dispose of or select the most ideal options.
Therefore Option(b) is correct.
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The discount rate that makes the net present value of an investment exactly equal to zero is called the?
The discount rate that makes the net present value of an investment exactly equal to zero is called the internal rate of return (IRR).
The discount rate that reduces a project's net present value (NPV) to zero is known as the internal rate of return (IRR). In other words, it is the anticipated annual compound rate of return on an investment or project.
A profitable investment opportunity is indicated by an IRR greater than the discount rate.
It makes it easier to compare various investment opportunities and projects. The most practical and profitable choices are selected based on the IRR.
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Initially, a bankers' acceptance is essentially? a covered call. a repurchase agreement. an embedded call option. a postdated check.
Initially, a bankers' acceptance is essentially a postdated check.
What is postdated check?A post-dated check is one that has been written by the drawer for a future date and is used in banking. Depending on the nation, a post-dated cheque may be cashed or deposited prior to the date printed on it.A check can be postdated by writing one for a later date rather than the one it was written on. Usually, the goal is for the check recipient to hold off on cashing or depositing the check until the date that has been mentioned in the future. In addition to postdating checks, there are additional options to give yourself extra time to obtain the required amounts to deposit checks in your account.Learn more about post-dated check here:
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Xyz corporation has $10m to invest. there are three investment opportunities they are considering. each opportunity requires $10m investment. which investment should xyz pursue?
Xyz corporation has $10m to invest. there are three investment opportunities they are considering. each opportunity requires $10m investment. Probability / Outcome.45 / 20% .45 / 5%.10 / -10%
What is investment?The dedication of a resource to a long-term increase in value is known as investment. A present resource, such time, money, or effort, must be lost in order to invest. The goal of investing in the financial world is to make money off the asset that is being used.
An investment is a purchase undertaken with the hope of earning money or increasing capital. Appreciation is the term for an asset's value rising over time. When someone invests in a product, they do so with the intention of using it to make money in the future rather than for immediate consumption.
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Duck corporation retained earnings increased $41,000 during the current year. what was duck's current year net income or loss given that duck declared $51,000 of dividends during this year?
The answer is $92, 000.
Duck corporation retained earnings increased $41,000 during the current year. Then the net income of duck's corporation in current year given that duck declared $51,000 of dividends during this year, is $92, 000.
What is the formula used in this question?The formula to calculate net income/ net loss is:
Net income/ net loss = Retained Earnings + Dividend
Now as the retained earnings have increased, the value will be in positive. Also as the value of retained earnings is positive, the final answer will be the net income of the Duck's Corporation.
Putting the values,
Net income = $41,000 + $51,000
Which gives us the answer to be net income of Duck's Corporation as $92,000.
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Budget for long-term goals involving non-recurring items is called a(n):_________
Budget for long-term goals involving non-recurring items is called a capital budget.
What is capital budget?A business uses capital budgeting as a tool to assess potential big projects or investments. Examples of projects that might require capital budgeting before they are approved or denied include the construction of a new factory or a significant investment in an outside enterprise.Making decisions about a company's long-term capital investment in operations is done through capital budgeting. Capital budgeting is the process of forecasting future returns on investments in things like machinery, real estate, and new technologies.Because it fosters accountability and measurability, capital budgeting is crucial.A company's owners or shareholders would consider it irresponsible for it to invest resources in a project without first fully evaluating the risks and potential rewards.Learn more about capital budget here:
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brandon owes his brother $120. he has a stamp collection worth $1,250 and he has $300 in a bank account. he also has a skateboard worth $95.which are brandon’s assets?
Brandon’s assets are of $1550
According to the question Brandon owes his brother $ 120 which means that he has to repay $120 to his brother.
Now he has a stamp collection of $ 1,250, bank account of $ 300 and also a skate board worth $ 95.
The assets of Brandon are:
Stamp collection = $ 1,250
Bank account = $ 300
Therefore Total assets are of:
=1250+300
=1550 $
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Mark each of the following statements, regarding the wto, as true or false. if false, correct the statement. ______ the wto was formed by countries that conduct the majority of international trade.
The statement that the WTO was formed by countries that conduct the majority of international trade is TRUE.
Who formed the World Trade Organization?The World Trade Organization (WTO) was established by 123 nations around the world in 1994 with the signing of the Marrakesh Agreement.
The World Trade Organization was able to become so influential in regulating trade because these 123 nations were the major players in international trade.
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The phase of the business cycle at which real domestic output is at minimum during a cycle is called:_______
The phase of the business cycle at which real domestic output is at a minimum during a cycle is called the trough
This is further explained below.
What is the business cycle?Generally, The term "business cycle" refers to the persistent upswings and downswings in broad indices of economic activity, such as production, employment, income, and sales.
Business cycles may last for a number of years. The expansionary and contractive stages of the business cycle are the phases that alternate with the other.
In conclusion, The trough is the point in the economic cycle that marks the point at which real domestic production has fallen to its lowest point during that particular cycle.
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complete question
The phase of the business cycle where real domestic output is at a minimum is called:
A. the peak.
B. a recession.
C. the trough.
D. the pits.
On december 31, mueller inc., makes an adjusting entry to accrue salaries expense. as a result of this entry, mueller's:______
Mueller Inc. records an adjustment entry on December 31 to accumulate the cost of compensation. This entry will result in a drop in Mueller's equity and an increase in liabilities.
The value that can be attributed to a company's shareholders is known as equity in finance and accounting. The market value of equity is determined by a number of factors, including the current share price (if the company is publicly traded) or a value established by investors or valuation experts. The book value of equity is determined as the difference between assets and liabilities on the company's balance sheet. The balance is also known as the shareholders', owners', or stockholders' equity or net worth.
In accounting, equity is consistently recorded at book value. Accountants create financial accounts and use the balance sheet equation, assets = liabilities + equity, to calculate this amount. Equity = Assets - Liabilities is another way to write the equation.
A company's assets are represented on its balance sheet as the total of all of its current and non-current assets. The primary asset accounts consist of equity cash, receivables, inventories, prepaid costs, fixed assets, property, plant.
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The failure to properly record an adjusting entry to accrue a revenue item will result in an.
The failure to properly record an adjusting entry to accrue a revenue item will result in an understatement of revenues and an understatement of assets.
Revenues is the overall amount of profits generated with the aid of the use of manner of the sale of goods and services associated with the number one operations of the monetary corporation. Business profits can also be known as earnings or as turnover. A few companies receive sales from interest, royalties, or excellent charges.
The crucial income definition is the general amount of cash delivered in with the useful aid of a commercial enterprise agency's operations, measured over a fixed quantity of time.
An organization's revenue is its gross profits earlier than subtracting any expenses. Earnings and normal earnings outline earnings—it's far the monetary gain through profits and/or offerings rendered.
Revenue, in economics, the earnings that a company receives from the sale of an amazing or service to its clients.
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The value of information is directly linked to how it helps decision makers achieve their organization’s _____.
The value of information is directly connected to how it helps decision makers achieve their organization’s goals.
How to achieve organization’s goal?Organizational goals are strategic objectives that the management of a company sets in order to describe anticipated results and direct employees' efforts. Organizational goals can be divided into three categories: individual, team, and corporate. These objectives all have set deadlines for completion. These objectives frequently have longer time horizons than others.
Goals aid in the definition of a company's mission, promote corporate expansion, and help it meet its financial objectives. A corporation can monitor its progress and identify the tasks that need to be addressed to achieve those business goals by setting specific organisational goals. Organizational goals are quantifiable targets that are established to assist a company in achieving objectives like increased revenue, improved client satisfaction, a greater market share, staff retention, or innovation in the products and services it offers.
Hence, The value of information is directly connected to how it helps decision makers achieve their organization’s goals.
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Experts predict that mergers in the first part of the twenty-first century will be the
result of cash-rich companies looking to acquire businesses that will enhance
their position in the marketplace.
a.true
b.false
The prediction that "mergers in the first part of the twenty-first century will be the result of cash-rich companies looking to acquire businesses that will enhance their position in the marketplace" is true.
What is merger?
Merger means the fusion of two or more firms, it is mostly likely that a bigger company, such a bigger pharma company sees the need to acquire another smaller firm which has potentials in areas other than that of the bigger firm which would enhance the market value of the bigger firm in the market when the smaller one is acquired.
In most case, cash-rich companies see the need to use a portion of their large cash reserve to build a diversified portfolio of products by seeking to buy over smaller but lucrative businesses.
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Assume that a 4 percent increase in income across the economy produces an 8 percent increase in the quantity demanded of good x. the coefficient of income elasticity of demand is:________
Assume that a 4 percent increase in income across the economy produces an 8 percent increase in the quantity demanded of good x. the coefficient of income elasticity of demand is 2 , hence positive.
It is calculated as follows:
Percentage increase in quantity demanded = 8
Percentage increase in income = 4
Income elasticity of demand= Percentage change in quantity demanded/Percentage change in income .
= 8/4
= 2
When coefficient is positive it means it is a normal good.
Income elasticity of demand refers to the percentage change in quantity demanded due to percentage change in income.
It helps in predict the impact of business cycle on sale.
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True or false: cash basis accounting is the method used by most profit-oriented companies
We can actually deduce here that it is false that cash basis accounting is the method used by most profit-oriented companies.
What is cash basis accounting?Cash basis accounting is actually known to be the method of accounting that actually records revenue only when cash has been received and also when expenses has been paid in cash.
This method of accounting is also known as cash receipts and disbursements method of accounting. In other words, the records are updated at the time the cash for revenues or expenses are received or paid out.
Thus, the answer is false.
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Which element of knowledge management faces the common problem of employee turnover?
Employee turnover is a common issue that knowledge retention encounters.
Knowledge retention is the process of storing knowledge within an organization for future use. Walsh and Ungson (1991) outlined five knowledge reservoirs, including people, culture, transformations (such as codified systems and procedures), structures (such as formal and informal networks), and external activities, in a previous section on organizational memory. This is the area of an organization where knowledge may reside or be held onto. Knowledge retention should be a component of every aspect of how the company runs and begin well before a key person is due to leave. Few businesses have explicit knowledge retention plans, despite the fact that it is thought to be essential for long-term organizational performance.
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Major appliances, furniture, and clothing are typical examples of ________ products.
Major appliances, furniture, and clothing are typical examples of Shopping products.
Consumers purchase goods from stores less frequently. Consumers frequently evaluate the qualities, costs, and styles of various things when buying. Shopping products are therefore more carefully contrasted with, and customers spend a lot more time considering alternatives than convenience products. Compared to convenience products, shopping products are supplied carefully, have fewer locations, and require human selling and advertising.
Consumer goods, often known as final goods, are items that are purchased by people or families for their own consumption. In other words, consumer products are those that the typical consumer purchases for personal enjoyment. There are four major categories of consumer items, each requiring a particular marketing strategy.
Examples of consumer product classification
Consumer goods are divided into four groups that are related to one another, namely:
Conspicuity goodspurchasing goodsSpecialty itemsUnwanted goodsConspicuity items include
magazines and newspapersmost food and grocery productsSnacks, candy bars, and soft drinkstissues and painkillersmorning cereals, milk, and breadShampoo, soap, and toothpasteDetergents, dishwashing liquid, and cleaning suppliesPurchasing goods
ComputersMobile devicesEntertainment technology, such as a PlayStationHome furnishingsDishwashers and washing machinesClothingsporting goodskitchenware, including dishes, pots, and pansVarious restaurant optionslodging and air travelLuggageacquiring a petgoing to the gymSpecialty items
Architect built the home.a high-end vehicleunique jewelryOrganizing a marriagewedding gownUnwanted goods
Lottery tickets Fundraising activitiesWhen necessary, counseling and personal assistanceTo lean more about purchase goods from the given link.
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The after closing balance in a revenue account will always be zero. this statement is:________
The after-closing balance in a revenue account will always be zero. this statement is True
This is further explained below.
What is a revenue account?Generally, The amount in a revenue account is moved during the closing process from the income statement into the retained earnings account, leaving a balance at the end of the revenue account of zero.
This leaves an opening balance in the retained earnings account. Because the ending balance of one period becomes the starting balance of the following period,
In conclusion, The beginning balance of a revenue account will likewise be zero at the beginning of the period.
An after balance in an income statement will always be zero. This assertion is indeed correct.
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When people define high quality customer service, three components are identified frequently. what are these three components?
The correct options are (a) Personal attention, (d) Employee competence, and (e) promptness.
Three elements are usually mentioned when discussing what constitutes high-quality customer service. These three components are Personal attention, Employee competence, and Promptness.
What is high-quality customer service?Meeting customer expectations is the secret to providing excellent customer service. When a customer contacts you, you should respond by doing that.
Consistently exceeding clients' expectations is what constitutes good customer service. Excellent customer service is prompt, simple, individualized, and sympathetic. Businesses that provide outstanding customer service invest the time necessary to comprehend the needs of their specific clientele.
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The complete question is:
"When people define high-quality customer service, three components are identified frequently. These three components are:
a. Attractive employees
b. Personal attention
c. Good Web site
d. Employee competence
e. Promptness"
A(n) ____ project implements changes to an existing system to enable operation in a different technology environment. question 5 options:
a. maintenance
b. enhancement
c. innovation
d. mandatory
Maintenance project implements changes to an existing system to enable operation in a different technology environment.
What is Technology Environment?
Environmental technology (envirotech), also referred to as green technology (greentech), or clean technology (cleantech), is the application of one or more of environmental science, green chemistry, environmental monitoring, and electronic devices in order to monitor, model, and conserve the natural environment and resources, as well as to lessen the adverse effects of human involvement. The phrase is also used to refer to renewable energy generation methods like photovoltaics and wind turbines. The foundation of environmental technology is sustainable development. Another use of the phrase "environmental technology" is to refer to a group of technological gadgets that can support resource management that is sustainable.
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Trinh quits his $80,000-a-year job to become a full-time volunteer at a museum. what is the opportunity cost of his decision?
Trinh quits his $80,000-a-year job to become a full-time volunteer at a museum. The opportunity cost of his decision is at least $80,000.
Now he is not getting the 80k dollar because he is volunteering for an unpaid museum job. Therefore, he had an opportunity to not do the museum job and instead do a $80,000 job which he didn't do and his opportunity to make 80k has been lost.
What is opportunity cost?The price you pay when you choose between two or more possibilities is known as the opportunity cost. Regardless of what you stand to lose by making the decision, you believe it will benefit you more in the long run. Due to opportunity cost, any investment you make will either result in immediate losses or returns in the future.
Think about the decision of whether to sell stock shares right away or to hold onto them for a future sale. While it is true that an investor may secure any immediate advantages they may have by selling right away, they would forfeit any future gains the investment might have provided.
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__ are products that have low immediate appeal but may benefit consumers in the long run.
Salutary products are products that have low immediate appeal but may benefit consumers in the long run.
What is Long Run?There is a time frame known as the long run during which all cost and production elements are erratic. In the long run, businesses modify every expense, but in the short term, they can only affect prices by changing their production levels. A company may also anticipate competition in the long run, even though it may currently have a monopoly in the near term.
A long run is a span of time during which a manufacturer or producer can make production-related decisions with some latitude. Depending on the predicted profits, businesses can either increase or decrease their production capacity, or enter or leave a certain industry.
In order to achieve an equilibrium between supply and demand, firms that look at the long term understand that they cannot change output levels.
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Oligopolies are comprised of ______. multiple choice question.
a. hundreds of large producers
b. a few large producers
c. thousands of large producers
d. one large producer
(b). A few large producers.
Oligopolies are comprised of a few large producers.
An oligopoly is a market structure with not many firms, none of which can keep the others away from having an enormous effect. The center extent appraises the slice of the pie of the greatest firms.
A monopoly market with a single maker, a duopoly has two firms, and an oligopoly comprises at least two or more firms. There is no exact furthest cutoff to the number of firms in an oligopoly, however, the number should be low and adequate that the activities of one firm essentially impact the others.
This market comprise four main characteristics are:-
Not many Firms with an Enormous Piece of the pie.
High Obstructions to Passage.
Interdependence
More Effective.
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A custom-home builder would likely utilize:____.
a. job-order costing.
b. mass customization.
c. process costing.
d. joint costing.
e. process budgeting.
A custom-home builder would likely utilize job-order costing.
What is job-order costing?
Accounting that tracks costs and receipts by "job" and facilitates uniform reporting of profitability by work is known as "job costing." An accounting system must enable the assignment of job numbers to specific expenditures and revenue items in order to support job costing.
Therefore,
A custom-home builder would likely utilize job-order costing.
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America purchases over fifty percent of its crude oil and petroleum products from other countries. this is an example of?
This is an example of Importing.
What is meant by Import?An export from the sending country is an import into the receiving nation. The two financial operations that best describe international trade are import and export. Import quotas and orders from the customs authority set limits on how much merchandise can be imported and exported in international trade.
Exporting is the process of selling goods and services that are produced or sourced domestically in other nations. Purchasing products and services abroad and bringing them back home is referred to as importation.
Importing things entails bringing anything into the country from another, where it must first clear customs. Authorities in charge of customs control import trade. They manage the movement of products and are in charge of tax and duty collection.
Even though transportation costs are higher, importing vegetables and other items from nations that can produce them more effectively can be better for the environment than "shopping local." In other words, free trade must be advantageous to both parties or it would not take place at all. This implies that imports are GREAT and that they are also.
Hence, This is an example of Importing.
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