Choose the statement below that explains what "closing" means. Multiple choice question. Closing means to bring an account balance to zero. Closing means to transfer an expense account's balance to the income statement. Closing means to transfer the balance in an account to an asset account. Closing means to adjust an account's balance to its correct amount.

Answers

Answer 1

The statement that explains what "closing" means is to bring an account balance to zero.

What is an account closing?

It involves resetting the balances of the temporary & permanent accounts in which the balance of temporary accounts is zero and the balance of the permanent accounts increase. In account, the income summary is important in a closing entry as this is the summary used in the aggregation of all income account.

The closing entry sequences are transfer of all revenue accounts into the income summary, closing of all expenses by crediting the expense accounts and debiting income summary closing of the income account and transfer of all income statement balances to retained earnings.

In conclusion, the statement that explains what "closing" means is to bring an account balance to zero. Therefore, the Option A is correct.

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Related Questions

According to south carolina law, buyers and sellers are defined as customers if they ______.

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According to South Carolina Law, if buyers or sellers opt not to have an agency connection with a broker, they are deemed to be consumers.

A fiduciary relationship known as an agency arises when a "principal" authorizes a "agent" to act on his or her behalf. The principle has power over the agent, and the agent must agree to her directives. Employer-employee, attorney-client, and corporate-officer interactions are all well-known instances of agency relationships. An agency relationship can be established with just one side's expression of consent. Oral or written communication can be this manifestation. Attorney retainer agreements are an example of a written agency agreement. Agency ties can also develop naturally without a formal agreement.

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1.Based on the call center agent conversation with the caller, what characteristics,attributes,lifestyle,skills,or traits does she possess? explain your answer.
2.what do you think about the way she handled the situation? explain your answer.
3.do you think there could be any better way than the way she did it?why Yes? why no?​

Plssssss Godd blesssss youuu

Answers

Qualities that make for a successful call center agent are Knowledge retention, Attention to detail, Organization, Flexibility, Friendly, Calm under pressure, Effective communication skills, and Speed.

As a call center representative, you will deal with a wide range of clients, grievances, and circumstances. Some of them are hilarious, while others aren't at all. Call center problems might range from straightforward issues that can be resolved quickly to complex circumstances that may take more time and effort to resolve. As we've already discussed, you'll also encounter a diverse range of clients, personalities, and attitudes.

The capacity for empathy is thus among the most crucial traits of a call center agent. Good brand loyalty can be attained by sales representatives who can establish a strong rapport with customers and give them the impression that someone is paying attention to and understanding their problems.

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two challenges ubuntu has experience​

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Raring Ringtail, the most recent release of Ubuntu, is marketed as user- and business-friendly.

Even if there are still considerable barriers in the way of its general acceptance in the workplace, Ubuntu 13 might be a viable solution if your employees simply use the browser to access programs and your business-friendly doesn't require complicated spreadsheet macros or document formats.

Both the initial installation and the upgrade from an earlier Ubuntu version went smoothly. Wi-Fi worked right out of the box, installation took around 20 minutes overall, and there were no driver problems. MP3 support is not pre-installed, however it is available during installation.

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The inputs of managing customer heterogeneity are the 3cs of situation analysis: customers, competitors, and consolidation. True or false

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The inputs of managing customer heterogeneity are the 3cs of situation analysis: customers, competitors, and consolidation. The statement is False.

Customer centricity is crucial since it enables businesses to forge stronger bonds with their clientele, which can lead to higher income and sales. As the business concentrates on enhancing customer pleasure, it also aids in reducing operational costs.

In order to generate customer pleasure, loyalty, and advocacy, customer centricity mandates that the customer be at the centre of all choices relating to the delivery of products, services, and experiences. Become more customer-focused to build loyalty.

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In an accounting cycle, an analysis of transactions is performed at the end of each accounting period. true /false

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It is a False statement, In any accounting cycle, an analysis of transactions is not performed at the end of each accounting period.

What is accounting cycle?

The accounting cycle is a comprehensive procedure that documents a company's transactions from beginning to end, assisting organizations in maintaining efficiency. All of the business's accounts, including T-accounts, credits, debits, journal entries, financial statements, and book closing, are included in the cycle.

Identification of transactions, journal entry recording, posting of transactions, preparation of the unadjusted trial balance, worksheet analysis, correction of worksheet inconsistencies, preparation of the financial statement, and closing the books are the steps in the accounting cycle.

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The type of computer-based access control that involves a process that uses secret or hidden information in order to retrieve particular data items is:________

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The type of computer-based access control that involves a process that uses secret or hidden information in order to retrieve particular data items is Steganography.

What is Steganography?

Steganography is a method for obfuscating the presence of secret information by enclosing it in a regular, non-secret file or communication; the information is then extracted from the covert material once it reaches its intended recipient. For an additional layer of data protection or data concealment, steganography can be used in conjunction with encryption.

A hidden message can be concealed via steganography by placing it inside (or even on top of) an otherwise public object. It doesn't matter what it is; it simply needs to be something. These days, putting a hidden text message inside of an image is a common steganographic technique.

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A timeshare developer in pennsylvania is offering prospective buyers $5,000 off their purchase price if the buyer waives the right to cancel upon signing a purchase agreement. is this legal?

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No, per Pennsylvania law, the buyer's right to cancel can't be waived.

A sales and purchase agreement (SPA) is a legal binding agreement between two parties that compels a transfer of funds to occur between a buyer and seller. SPAs are frequently used in real estate transactions, but they are also employed in other commercial transactions. The agreement, which is the result of discussions between the buyer and seller, completes the terms and conditions of the sale. A purchase and sales agreement (SPA) is a binding legal agreement that compels a buyer to buy and a vendor to sell a product or service. SPAs are frequently used in real estate transactions and other situations in which two parties are transacting a sizeable amount of goods.

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In the infrequent foreign marketing stage of international marketing involvement, firms?

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International marketing This involves the business operating in multiple markets, where not only do the uncontrollable factors vary widely from one market to the next, but it is also likely that the controllable factors—such as cost and price structures, advertising opportunities, and distribution infrastructure—will also vary widely.

Global marketing With the aim of gaining a worldwide competitive edge, the entire organization focuses on the selection. The company's main goal is to develop operational synergy so that, by utilizing various exchange rates, tax rates, labor rates, skill levels, and market opportunities, the organization as a whole will be larger than the sum of its parts.

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The best values management programs also provide either a(n) _______ or a(n) ________ to report any violations.

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The best values management programs also provide either a direct contact person or an anonymous hotline to report any violations. It is better to have those two options because reporting something requires that we remain anonymous. We would probably also create a new conflict on top of it.

A violation report is used to describe every allegation of a violation or alleged violation of this Manual, as well as the investigation and subsequent actions. An instance of a violation might be being bullied at work or school. Another illustration is breaking the law by driving your car faster than the posted limit.

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In terms of cost principles and cost allowability contract terms may only be _______ restrictive than required by law.

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The answer is :- more

In terms of cost principles and cost allowability contract terms may only be more restrictive than required by law.

What are Allowable Costs?

What prices are acceptable and what costs are not are subject to extremely specific regulations set forth by the federal government. For instance, some of the costs that a contractor might typically report in terms of home office overhead in accordance with generally accepted accounting principles may not be allowed by the federal government when using the straightforward Eichleay Formula to calculate unabsorbed home office overhead.

According to the terms of the relevant contract in question, Cost Accounting Standards, and the FAR, allowable costs are defined as expenses that are reasonable and assignable to the contract.

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What would be the occupancy rate for a hotel that has 200 rooms on a day in january in which it sold 100 rooms and received total rooms revenue of $17,000?

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The occupancy rate for the hotel that has 200 rooms on a day in January is 50%.

What is revenue?

In the context of accounting, revenue refers to the total income from sales of products and services that are directly related to the company's core operations. Sales or turnover are two other terms for commercial revenue. Interest, royalties, and other fees are sources of income for some businesses.

Revenue is the entire amount of money made through the sale of products or services related to a business's core operations. Because it appears at the top of the income statement, revenue, also known as gross sales, is frequently called the "top line."

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If a new security issue is marketed to a definite and select group of investors (such as current stockholders, employees or customers) the issue is called:____.

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If a new security issue is marketed to a definite and select group of investors (such as current stockholders, employees or customers) the issue is called a privileged subscription.

What is privileged subscription?

An existing shareholder's right to subscribe to fresh stock issuances at or below market pricing allows them to maintain an equal percentage ownership in the company. Employees and investors can purchase shares of business stock over a lengthy period of time through stock subscriptions, typically at a price that excludes broker commissions. The price at which shares are bought signifies a good deal for buyers because there is no commission.

Therefore,

If a new security issue is marketed to a definite and select group of investors (such as current stockholders, employees or customers) the issue is called a privileged subscription.

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Corporation and limited liability (limited partnership) company taxed twice.
a. true
b. false

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Option[A] is the correct answer.

Corporation and limited liability (limited partnership) company taxed twice.

Before any earnings may be distributed to shareholders, the corporation must pay income tax at the corporate rate. Any gains that are then dispersed as dividends to shareholders are again taxed at the recipient's individual rate. The company profits are thus subject to two separate income tax rates.

What is Double Taxation?

When business profits are taxed both at the corporate and personal levels, C corporations are subject to double taxation. Before any earnings may be distributed to shareholders, the corporation must pay income tax at the corporate rate. Any gains that are then dispersed as dividends to shareholders are again taxed at the recipient's individual rate. The company profits are thus subject to two separate income tax rates.

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The cost of an intangible asset includes all of the following except? purchase price. legal fees. other incidental expenses. all of these choices are included.

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Similar to how fixed assets are acquired, intangible assets must have their costs capitalized. When purchasing a building, all costs, including real estate commissions and fit-out fees, are capitalizable.

D is the correct option.

What is Intangible Assets?
Different procedures can be used to develop intangible assets. The most typical method is via purchasing another company. When this happens, any research and development, goodwill, etc. are recognized by the purchasing business. At the time of purchase, each of these products must be valued.

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Which one of the following is not a current liability? select one:
a. taxes payable
b. accounts payable
c. wages payable
d. wage expense
e. none of the above

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Wage Expense is not an current liability, therefore the correct option is D

What is Wage Expense?
The cost that businesses incur to pay hourly employees is known as a wage expense. In addition to payroll taxes and employee perks, this line item may also include them. In the income statement's expenditure section, a wage expense could be listed as a line item. This kind of expense is changeable. Wage costs are occasionally broken down by department, and the production department is most likely to receive a separate report. This division frequently has the highest percentage of hourly workers. On the other hand, the cost of goods sold (COGS) line item on the income statement may include pay costs for production personnel.

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if decking cost $3.25 per square feet, how much would it cost to build a deck that is 25 feet by 20 feet?

Answers

Answer:

1625

Explanation:

25*20=500

3.25*500=1625

According to the law of supply, price and quantity supplied have a(n) ______ relationship.

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According to the law of supply, price and quantity supplied have a positive relationship. In order to increase profits, producers are willing to provide more of a product for sale on the market at higher prices by increasing output. This is because quantities respond in the same direction as price changes.

A key tenet of economic theory is the rule of supply, which asserts that an increase in price will result in an increase in the quantity supplied, all other things being equal. The amount of an item or service that producers are willing and able to offer at a specific price, at a specific time, is known as the supply. Microeconomic law is the law of supply.

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The tax cuts and jobs act of 2017 set the corporate tax rate to be ______ regardless of the level of taxable income.

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The tax cuts and jobs act of 2017 set the corporate tax rate to be 21% regardless of the level of taxable income.

Tax Cuts and Jobs Act of 2017

The Tax Cuts and Jobs Act, which altered the Internal Revenue Code of 1986, was reintroduced in Congress as the Act to provide for reconciliation according to sections II and V of the concurrent resolution on the budget for fiscal year 2018, Pub.L. 115-97.What did the Tax Cuts and Jobs Act of 2017 achieve?Deductions, depreciation, expensing, tax credits, and other business-related tax items have altered as a result of the Tax Cuts and Jobs Act ("TCJA"). Business owners may use this side-by-side comparison to comprehend the changes and make appropriate plans.

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In a court of equity, the doctrine that will bar a lawsuit if it is not filed within a proper time is known as:_________

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Equitable remedy is the doctrine used in equity courts that prevents lawsuits from being filed if the appropriate deadline has passed.

In order to respond more adaptably to shifting social conditions than was possible under precedent-based common law, courts of equity devised equitable remedies beginning around the reign of Henry VIII.

The Court of Chancery in England granted equitable remedies, and they are still readily available in the majority of common law countries today. Legal and equitable remedies have been combined in many countries, and a single court may now impose either or both remedies. Despite substantial judicial consolidation, there are still some notable situations where the gap between equitable and legal remedies is still important. Notably, the Seventh Amendment of the United States Constitution keeps "at common law" civil actions with a value of over $20 from losing their right to a jury trial.

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The amount of debt, time and method of payment, interest rate and other loan terms are part of the?

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The amount of debt, time and method of payment, interest rate and other loan terms are part of the principal. The principal is the sum of money you initially promised to repay. The cost of borrowing the principal is interest. In general, any payment made on a vehicle loan will be used to cover any outstanding fees first (for example, late fees)

Recognizing Principal

Principal is the initial sum of a loan in the context of borrowing; it can also refer to the balance still owed on a loan. The principal of a $50,000 mortgage, for instance, is $50,000. If you pay down $30,000, the remaining $20,000 is the primary balance.

The principal of a loan determines how much interest you pay. The amount of your monthly loan installments is applied to the accrued interest first and only then to the principle when you make a payment.

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. What do you think that Professor Porter means when he says, "I think many have seen business
as the problem, or at least one of the problems, in many of the social challenges we face"? Do you
agree with this statement? Explain your thoughts.

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Professor Michael Porter of the Harvard Business School is here to argue that business can contribute to solving social issues. The TED attendees in the room clearly concur with his opening statement that we are all acutely aware of the problems that exist with regards to climate change, healthcare, and access to clean water.

They all unambiguously concur with his thesis that business is frequently seen as the issue rather than the solution, and a lot of them.

The issue with the issue is as follows. The mechanisms we've created to address social ills, such as NGOs and philanthropies, are well-intentioned and driven, but they aren't built to scale. We're not moving forward quickly enough, which is an uncomfortable reality. Porter declares, "We're not winning. These issues seem extremely difficult and insurmountable. Any answers we do manage to find are modest ones that represent minor steps forward.

The problem is that the existing paradigm doesn't have nearly enough funding to make the required transformation. We have to face this problem squarely. Porter wonders, "How can we generate resources?" His response: through business, which generates wealth by satisfying its own needs and turning a profit.

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a. The future value of $420 eight years from now at 10 percent. (Round your FV factor to 3 decimal places and final answer to 2 decimal places.)

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The following equation can be used to determine future value with compound interest: future value = present value x (1 + interest rate)n. Use this formula to determine future value using simple interest: Future value equals current value multiplied by [1 + (interest rate over time)].

According to the formula for future value, FV = PV*(1+i)n, future value is equal to the present value multiplied by the sum of the annual percentage rate of interest multiplied by the number of time periods

Finance professionals use the Future Value (FV) calculation to determine the value of a cash flow at a time after it was initially received.

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The proper sequential order of payments for the use of land, labor, capital, and entrepreneurship are called?

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In economic parlance, the proper sequential order of payments for the use of land, labor, capital, and entrepreneurship are:

Land - RentLabor - WagesCapital - InterestEntrepreneurship - Profit.

See further explanation below.

What are factors of production?

According to traditional economics, the four main factors of production are given below:

land, or physical space and natural resources, labor, or workers, capital, or money and equipment, and entrepreneurship, or ideas and drive, which are used together to achieve a successful attempt at selling a product or service.

Some contemporary economists and neo-classical economists have included information or business intelligence as a fifth factor of production.

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An employee may experience role ______ when attempting to balance a heavy workload.

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Trying to manage a large workload might cause occupational stress in an employee.

the required detais about workplace stress is mentioned below

What is workplace stress?

Occupational stress is a word that is frequently used in the professional business sector to describe the on-going or escalating stress that an employee goes through as a result of their duties, conditions, surroundings, or other pressures at work.

One documented health risk factor for a variety of psychological, behavioral, and physiological problems and diseases is occupational stress. Through better wellness and proactive stress management, both organizations and individuals can lessen the impact of these conditions. This article discusses three topics: the health risks associated with occupational stress that are known to exist; the use of preventative stress management as a framework for intervention in businesses; and the developing field of boosting wellbeing, which supports the individual.

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____________ is the part of the self-concept that involves evaluations of self-worth.
a. facework
b. reflected appraisal
c. self-esteem
d. impression management

Answers

Answer:

i think self-esteem. Am I right?

The adjusting journal entry required to record depreciation includes a(n) _____________ entry to accumulated depreciation.

Answers

The adjusting journal entry required to record depreciation includes a(n) "Debit entry" to accumulated depreciation.

What is Journal Entry?

A business transaction is documented in the accounting records of the company using a journal entry. Journal entries are often made in the main ledger, but they may also be produced in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarised. After then, the general ledger is used to compile the company's financial statements. The logic of a journal entry requires that every business transaction be recorded in at least two places (known as double entry accounting). For instance, when you make a cash sale, both the revenue account and the cash account are increased. Alternately, making purchases on credit leads to an increase in the accounts payable and inventory accounts.

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Descriptive analytics helps detect hidden patterns in large quantities of data to group data into sets to predict behavior. True or false?.

Answers

False, Descriptive analytics do not help detect hidden patterns in large quantities of data to group data into sets to predict behavior

How does descriptive analysis work?

Undoubtedly, descriptive analytics is the most user-friendly data analysis method. It involves dissecting (or parsing) data and summarizing its key components. This is how descriptive analytics summarises past occurrences without focusing on their methods or causes. Because it is essentially explanatory, descriptive analytics uses basic descriptive statistics. This includes measures of central tendency (mean, mode, and median), distributional metrics (frequency or count), and measures of variability (such as variance and standard deviation). Additionally, it assesses the location of other data points, such as the percentile range or interquartile range, as necessary. Descriptive analytics commonly use reports, pivot tables, and visualizations like histograms, line graphs, pie charts, and box-and-whisker plots to present their findings.

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An engineer would like to set the cost of an ospf interface directly into her route. which interface subcommand allows the engineer to set the cost directly?

Answers

An engineer would like to set the cost of an OSPF interface directly into her route. In order to set the cost of an OSPF interface directly, use the interface subcommand IP OSPF cost.

Sonalysts Combat Simulations created the computer game Subcommand, also known as Akula Seawolf 688(I), which was released in 2001 by Electronic Arts for Windows platforms. The player controls one of the following submarines: a 688, an American Seawolf, or a Russian Akula. Three training missions, 23 single missions, and one 14 mission campaign are all part of Subcommand. There are actually two campaigns because they may be played from either the US or Russian perspective. The single missions include general search-and-destroy operations, battle group escorts, pursuing enemy boomers, and search-and-rescue operations.

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The primary source of federal power to regulate business is the:_______
a. commerce clause.
b. privilege and immunities clause.
c. contract clause.
d. supremacy clause.

Answers

The primary source of federal power to regulate business is the: commerce clause

What is commerce clause?

The U.S. Constitution's Article 1, Section 8, Clause 3 is referred to as the Commerce Clause. the authority to "regulate commerce with foreign countries, among the various states, and with India," according to the U.S. Constitution.

Significant and ongoing debate about the distribution of power between the federal government and the states has resulted from Congress's repeated use of the Commerce Clause as justification for exercising legislative authority over state and citizen actions. In the past, the Commerce Clause was seen as both a grant of power to Congress and a limitation on the power of the States to regulate themselves.

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Gertrude company receives $15,200 relating to its installment note receivable; of this amount $9,000 represents interest. in its statement of cash flows, this inflow should be reported as a(n):________

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Gertrude company receives $15,200 relating to its installment note receivable; of this amount $9,000 represents interest. in its statement of cash flows, this inflow should be reported as a(n) operating activity inflow of $9,000.

A company , abbreviated as co., is a prison entity representing an affiliation of people, whether herbal, legal or a combination of each, with a specific goal. employer contributors share a not unusual reason and unite to obtain unique, declared desires.

An organization is a criminal entity shaped by a group of people to interaction in and function a business company in a business or business capability. An enterprise's commercial enterprise line depends on its structure, which could variety from a partnership to a proprietorship, or maybe an organization.

it is a complicated enterprise shape, with higher set-up and administrative fees due to more reporting requirements and higher-degree felony obligations.

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List 3 qualities that identify an object as a work of art.1? One angle in a triangle has a measure that is three times as large as the smallest angle. The measure of thethird angle is 45 degrees more than that of the smallest angle. Find the measure of the LARGEST angle.Answer: The LARGEST angle has a measure of Read the sentence.You can take the girl out of the country, but you cant take the country out of the girl.Which rhetorical device is used in this sentence?A. chiasmusB. asyndetonC. antithesisNOT D. zeugma I bought 2 books. One cost twice as much as the other. Together they cost 3.45.How much did the dearer book cost? Read the following passage, then answer the question that follows.As Krista watched the path of the incoming hurricane, she wondered how much it would affect her daily surfing schedule. The winds were picking up and the waves were high, but Krista thought, "I'm an expert surfer and the storm is still days away. Those waves are no match for me!" As she stood at the shore, twenty-foot waves began to swell. Krista went for it, surfing those majestic waves successfully until the sky grew dark and the rain began.What type of conflict is the above passage? Character vs. character Character vs. nature Character vs. self Character vs. society Keisha cuts a triangle from a rectangular strip of cloth. What type of triangle did Keisha cut? A. Scalene,RightB. Scalene, AcuteC. Isosceles, RightC. Isosceles, Acute Which variable differs systematically for the two distances that requires us to consider the rate of diffusion for these two layers separately? pls help. stuck on problem Can somebody help me if you know what this is A client is hospitalized for heart failure and is scheduled to receive oral digoxin at 8 am. the nurse will withhold the medication and notify the prescriber if the client's:________ Exercise 1 Underline each pronoun. Their burrito is a meal in itself! What cultural factors in Europe at the time were the early scientists challenging? Whywere these factors specific to Europe? People should not be able to get past You should always measure your following distance in __________ a. seconds. b. car lengths. c. feet. The term that means spread of disease from one part of the body to another is:_______ a. contagion. b. carcinoma. c. metastasis. d. benign. e. pathology. This diagramshows a hydrogen atom. Explain why it lookslike it does.4 When you toss a projectile sideways, it curves as it falls. it will be an earth satellite if the curve it makes _______. According to Aristotle, the smallest human association is combine the TAG information with the claim to write a claim statementTitle: "Little Red Riding Hood"Author: Charles Perrault Genre: Short storyClaim: Little red riding hood should not have trusted the wolf because she led him straight to her grandmother and then ate her. From what you reviewed in "Layered Earth" compare and contrast the different types of volcanoes and the different types of lava?