'If a company fails to make an adjusting entry to record accrued expenses, the liabilities and net income will be overstated.
This statement is True.
In financial accounting, a liability is defined as a future waiver of economic benefits that a firm needs to provide to another firm as a result of past transactions or other past events.
Responsibilities can be defined in several ways. However, in actuarial calculations, liability term generally refers to the average (or mean) useful life of the liability. In other words, it refers to the average number of years it takes to pay off the debt.
Companies with liquidity problems can use debt to improve their liquidity. Most small businesses don't have enough cash to grow their business.
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An income statement reflects activity that occurs _____ while a balance sheet reflects values ____.
An income statement reflects activity that occurs over a period of time while a balance sheet reflects values at a point of time.
The income statement of a company is the financial statement that shows its income and expenditures. This gives a picture of the profit or loss the company is making. This is calculated for a given period of time.
The balance sheet of a company, on the other hand, is calculated at a specific point in time. It shows the assets, liabilities, and shareholder equity of the company at that point.
Income statement and balance sheet both constitute the financial statement of a company.
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In a large business, the _____ department makes sure that all the computer operations, mobile devices, and networks run smoothly.
In a large business, the information technology department makes sure that all the computer operations, mobile devices, and networks run smoothly.
This is further explained below.
What is business?Generally, A person may earn a livelihood or make money via the practice of running a business, which entails the production of goods as well as their purchase and sale.
Additionally, it refers to "any activity or company that is engaged in for the sake of profit."
An organization or enterprising entity that engages in advertising, industrial, or professional life is referred to as a business.
Businesses can be profit community organizations or non-profit organizations.
There are many different types of businesses, including limited liability companies sole proprietors, corporations, and partnering.
In conclusion, When it comes to ensuring that all of the computer systems, mobile devices, and networks in a major company are operating efficiently, it is the responsibility of the information technology department.
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How well a speech is organized likely will influence?
It will be more fun, simpler to grasp, and lend credibility to both you and the speech if your speech is well-organized. The typical speech should have two to four primary ideas. There is a time pattern that speeches in chronological sequence follow. Speeches that are grouped spatially follow a timeline.
It's crucial to keep in mind that speeches have three distinct parts: an introduction, a body, and a conclusion when writing one. The topic is introduced, and your audience is oriented, in the introduction, and everything is summarized in the conclusion at the end of your speech.
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Company characteristics, strategic objectives, and organizational culture are all examples of _____ that vary across organizations.
All these terms that vary across organizations are the examples of internal environment .
The term "internal environment" refers to the values, people, activities, and situations that exist within a company and have the potential to affect decisions made by the company.The internal environment vary across organizations depending on several factors.
A business's internal environment is affected by Internal factors which include a variety of variables. These factors encompass organisational structure, corporate culture, human resources, physical resources, and technological capabilities. They also include values, systems, vision, mission, and objectives.
An organisation is directly impacted by internal environmental conditions. Additionally, these elements can be changed in accordance with circumstances and needs to adapt to the changing business environment.
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High-performance work systems result in:______
a) centralized decision making.
b) high production costs.
c) high employee turnover.
d) simple, repetitive jobs.
e) high product quality.
The correct answer is d
High-performance work systems result in simple, repetitive jobs
Numerous empirical investigations have also discovered a connection between HPWS and a variety of beneficial outcomes, including improved job performance, creativity, and innovation.
A system that fosters a work environment in which employees have more involvement and responsibility is known as a high-performance work system. Employees are regarded as important business partners, and due of their dedication to making the company successful, it is possible to establish and retain a competitive edge.
A high-performance work system's ability to boost corporate productivity and efficiency is one of its main advantages.
Employee attitudes and actions are impacted by HPWS, and these employees retaliate with "extra-role activities."
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Suggest two actions that the company could take to overcome the shortage of labour.
Methods for overcoming the labor shortage and attracting candidates are:
Enhance the recruitment process.Improve the training procedure.What do we mean by a shortage of labor?When there is a labor shortage, it means that employers are having difficulty finding qualified candidates for available job openings. There aren't enough candidates to fill the positions they're looking for, and the few that are available are difficult to find. Staffing shortages could slow GDP growth, cause a recession, and stymie the growth of industries dominated by blue-collar workers and manual laborers in the long run.Methods for overcoming the labor shortage and attracting candidates are:
Enhance the recruitment process.Improve the training procedure.Examine your management style again.Encourage and provide opportunities for growth and development.Enhance the working environment and provide superior benefits.Therefore, methods for overcoming the labor shortage and attracting candidates are:
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If the accounts receivable ending balance is greater than its beginning balance, then its debits were ______ than its credits during the period.
If the accounts receivable ending balance is greater than its beginning balance, then its debits were greater than its credits during the period.
What is accounts receivable?Accounts receivable is a balance sheet account that is used to record services rendered or goods sold for which payment have not be made for them.
Accounts receivable is an asset for the company due to the fact that it is a legal obligation for payment to be made for services rendered. Accounts receivable is also considered to be a liquid asset.
When payments are received for services rendered or goods sold. the amount is subtracted from the accounts receivable account. When ending balance of the accounts receivable is greater than the beginning balance, it means that there is an increase in the amount of outstanding payments.
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In the united states, equal opportunity laws guarantee equal pay for men and women, whites and minorities. True or false
The given statement " In the united states, equal opportunity laws guarantee equal pay for men and women, whites and minorities" is false.
What is Equal Employment Opportunity Act?Federal laws against employment discrimination are enforced by the Equal Employment Opportunity Commission (EEOC) of the United States. The Civil Rights Act of 1964 led to the establishment of the EEOC. The EEOC currently enforces federal anti-discrimination laws and provides oversight and coordination of all federal equal opportunity regulations, policies, and practices. Title VII of the Civil Rights Act of 1964 prohibits discrimination based on race, color, national origin, sex, and religion. It also forbids employers from retaliating against any employee who exercises his or her rights under Title VII.The laws governing employment are designed to end discrimination in all of its manifestations and guarantee that everyone receives equal pay for equally hard labor. That does not imply that everyone makes the same amount of money, though. Personal experience, expertise, and capabilities must also be taken into account. Due to this, college professors make more money than high school dropouts but less than professional athletes and actors.To know more about Equal Employment Opportunity Commission (EEOC) visit:
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The company has return on equity of 30 nd stockholders' equity of $4,000,000. what is the company's net income?
The company has return on equity of 30 nd stockholders' equity of $4,000,000. what is the company's net income is 840000 (1200,000 - 4000000*.30).
By calculating a company's return on equity (ROE), one can determine how well its owners' equity investments are producing income.
If any total debt was utilized to finance the company's purchase or operations, you can calculate the net equity value by deducting that amount from the enterprise value.
Take the gross income, which is the whole amount of money earned, and deduct costs like taxes and interest payments to get at net income.
Net income for an individual is the amount that they really receive from their paycheck each month as opposed to the gross amount they are paid before payroll deductions.
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A description of an organization's values, definition of its responsibilities to stakeholders, and identification of its major strategies is called its:_____.
A description of an organization's values, definition of its responsibilities to stakeholders, and identification of its major strategies are called its Business-level strategy.
What is business-level strategy?
Simply said, a business-level strategy is a structure, plan, or roadmap that enables a company to offer value to consumers and acquire a competitive edge by making the most of its core skills. Your market position will be largely determined by the business-level strategy you pick. Your ultimate organizational goals are actually built upon it. A business-level strategy may take many various forms, but it must always take into account three key components; customer contentment or pleasure (providing value to the customers)gaining and keeping a competitive edge. staying competitively advantaged. A good ROI results in profits.
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Smokey company purchases a one-year insurance policy on july 1 for $13,308. the adjusting entry on december 31 is?
On July 1, Smokey Company pays $13,308 for a one-year insurance contract. Debit Rent Expense, $8,000; credit Prepaid Rent, $8,000; this is the adjusting entry for December 31.
What is insurance policy?An insurance contract, represented by a policy, provides financial protection or reimbursement from an insurance company in the event of a loss to the policyholder. In order to lower costs for the insured, the company pooled the money from its customers.
Plans for insurance are designed to guard against the possibility of both significant and minor financial losses brought on by damage to the insured's property or person, or by liability for injuries or damages to a third party.
An insurance policy is a contract that an insurer enters into to reimburse another party for losses brought on by particular risks or occurrences.
There are several varieties of insurance. The four most common types of insurance are life, health, home, and auto.
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A company's beginning accounts payable is $1,000. it had a $10,000 of purchases on account and paid $7,000 of the amounts owed. the accounts payable ending balance equals a _____ balance.
The accounts payable ending balance equals a $4,000 balance
What is accounts payable?
Accounts payable is the account that represent the company's suppliers, in effect, its balance indicates the amounts owed to them, in essence, the closing balance is determined by adding new purchases to the beginning accounts while deducting amount paid to suppliers in the period under review.
accounts payable ending balance=beginning accounts payable+purchases-amount paid
beginning accounts payable=$1,000
purchases=$10,000
amount paid=$7,000
accounts payable ending balance=$1,000+$10,000-$7,000
accounts payable ending balance=$4,000
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You own a mobile Taco Truck. You have a short list of competitors. Which TWO would be considered your Indirect Competition? Question 3 options: Walk-up Mexican Food stand A local Burger King franchise A local Taco Bell franchise Mobile Fish and Chips Truck
You own a mobile Taco Truck. You have a short list of competitors. The TWO that would be considered your Indirect Competition are options A. Walk-up Mexican Food stand and B. Burger King franchise. Hence, options A and B are the answers.
What is an indirect competition?Indirect competition is the contrats between sellers whose goods or services are not the same but that could satisfy the same consumer need. Indirect competition opposes with direct competition, in which businesses are selling products or services that are essentially the same.
Therefore, the correct answer is as given above
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Answer:
Walk-up Mexican food stand & A local Taco Bell franchise
Explanation:
because it is places that serve the same items, which are direct competitors
burger king and mobile fish and chips truck is indirect cus they dont serve the same thing but still satisfy customers
The additional benefits that arise by using an additional unit of the managerial control variable is defined as the:________
The term "Total benefit" refers to the additional advantages brought about by applying an additional unit of the managerial control variable.
The benefit paid under the Salaried Pension Plan and the Executive Plan to a Participant (or surviving spouse in the event of a Participant's death) is referred to as the Total Benefit. The annual pension amount equal to 65% of the participant's Final Average Pay multiplied by the Accrual Fraction as of the Date of Determination, payable to the participant in the Normal Form of Benefit and beginning as of the Date of Determination, is referred to as the Total Benefit. The Total Benefit, however, must always exceed the Minimum Benefit as of the Date of Determination.
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In today's business environment, would using a theory x approach help or hinder retailers faced with real estate and debt concerns? explain your reasoning.
Theory X would obstruct the company's employees' ability to advance and be productive.
Managers who anticipate and micromanage daily tasks do not help in their development since they are more focused on making sure their work is done right than on training their personnel and discovering potential new prospects.
They are limiting potential sources of income in the near future by doing this, and even if these new alternatives could cause merchants more issues, if they carry on as they have, they will fail nonetheless, so it is worthwhile to explore new options. If they encounter these kinds of difficulties, they will also be unable to be innovative with future endeavors since, as the adage goes, it takes money to create money.
Retailers must, however, offer shoppers something novel if they want to overcome these worries.
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Accounting and finance is a primary activity in the value chain. group starts
a. true
b. false
Which limited use farm structure does not qualify for a permanent property tax exemption?
Milking barn farm structure does not qualify for a permanent property tax exemption.
What is tax exemption?Tax exemption is the reduction or elimination of a requirement to make a required payment that would otherwise be imposed on individuals, properties, income, or transactions by a ruling power. Tax-exempt status might offer full tax exemption, reduced rates, or tax on only some things.
A tax exemption is the right to have some or all of one's income exempt from federal or state taxation. The majority of taxpayers are eligible for a number of exemptions that can be used to lower their taxable income, while some people and organizations are fully free from paying taxes.
As most taxpayers understand it, a tax exemption is the ability to deduct a certain amount or percentage of gross income. The taxes owed are decreased because that income is disregarded.
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Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called.
Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called commodity markets.
What is a Market?The trade of products and services can take place in a market, which is a gathering place for interested parties. Buyers and sellers are typically the parties engaged.
The market might be actual, like a physical store where people interact in person, or it could be virtual, like an online market, where there is no face-to-face interaction between buyers and sellers.
A market's essential elements include the presence of buyers and sellers, as well as a good or service that may be bought and sold. A market determines the costs of commodities and other services regardless of the situation.
Supply and demand dictate these rates. One of the fundamental principles of economics is the concept of supply and demand. Demand is produced by buyers, but supply is produced by sellers.
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In a pure command economy, the prices at which goods and services are sold are planned by the.
In a pure command economy, goods and services prices are planned by the central government.
In a pure command economy, the centeral government is responsible to set the prices for goods and services sold in the market. The central government is also responsible to set the production of the goods and services being sold in the market. Because the main goal of the central government is to create equality in society.
In a pure command economy, government fully controls the distribution and production of goods and services to control the monopoly, and prices and dictates the external entrance into the market. While the free market system decides the prices of goods and services based on the relationship between demand and supply.
In a free market system, producers or private companies set production and produce goods and services based on the demand for these goods and services in the market.
Therefore, in a pure command economy, the prices of goods and services are set or planned by the central government.
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Although humans made stone tools for 200,000 years the most sophisticated form and last complete stone tool kit is the ________, represented by: the awl, atlatl and bow & arrow.
Although humans made stone tools for 200,000 years the most sophisticated form and last complete stone tool kit is the crude stone tools represented by: the awl, atlatl and bow & arrow.
What were crude stone tool?Any tool that is partially or totally fashioned out of stone is considered a stone tool in the broadest definition. Even if there are still societies and cultures that rely on stone tools, most of them are related to extinct prehistoric (especially Stone Age) cultures.
Archaeologists frequently research these prehistoric societies, and the examination of stone tools is known as lithic analysis. To deepen our understanding of the cultural ramifications of stone tool use and production, ethnoarchaeology has been a useful research field.
Arrowheads, spearheads, hand axes, and querns are just a few examples of the numerous tools made from stone throughout history. Stone can be ground into tools or it can be shaped by a flintknapper into knapped implements.
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Imagine that a population of meerkats exhibits exponential growth. what does this tell you about the per-capita growth rate (r) of the meerkat population?
It tells you that the rate is going to change based on the curve of the per-capita growth rate of the meerkat population.
What is the per-capita growth rate?An algebraic standard can be used to depict population growth over a period of time. They are referred to as population models. Using a model, it is frequently simple to comprehend complex population components and interactions. Population models provide a pattern that makes it possible to forecast and comprehend how an organism will expand. The age and size of the population of the organism affect the ecological model. When developing a model, the interaction with the environment is another important consideration. Ecologists employ models to predict if a species will go extinct or become endangered, helping to rescue those species. Two models—the exponential and logistic population growth models—can predict the per capita growth.
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Purchasing power parity is a means of adjusting the exchange rates for two currencies so that they have blank______ purchasing power.
Purchasing power parity is a well-liked macroeconomic study metric to contrast economic productivity and living standards between nations (PPP). PPP, which is not to be confused with the Paycheck Protection Program established by the CARES Act, is an economic theory that contrasts the currencies of various nations using a "basket of goods" approach.
When a basket of items is priced the same in both nations while accounting for exchange rates, two currencies are said to be in equilibrium, or to be at par. Economists can compare economic production and living standards across nations thanks to purchasing power parity (PPP). In order to account for PPP, some nations modify their GDP estimates.
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Who is responsible for the design, implementation, repair, and security of a company's database?
Database administrator is responsible for the design, implementation, repair, and security of a company's database.
What is database?A database is a structured information collection which is often stored electronically in a computer system. Generally, a database management system is in charge of managing a database (DBMS). A database system, frequently abbreviated to just database, is the collective term for the data, the DBMS, and the applications that are connected to it.
The most popular forms of databases in use today typically describe their data in rows and columns in a collection of tables to facilitate processing and data querying. The information can then be accessed, managed, changed, updated, regulated, and organized with ease. SQL is a structured query language that is used by the majority of databases to write and query data.
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Loren+already+knows+that+he+will+have+$500,000+when+he+retires.+if+he+sets+up+a+payout+annuity+for+30+years+in+an+account+paying+10%+interest,+how+much+could+the+annuity+provide+each+month?
The annuity provide each month to Loren is $221.19.
What is meant by annuity?An annuity is a set of payments that are made at regular intervals.
Regular savings account deposits, monthly mortgage loan payments, monthly insurance payments, and pension payments are all examples of annuities.
The frequency of payout dates distinguishes annuities.
Now, as per the question;
The formula for calculating the annuity is;
[tex]P_t=\frac{d\left[\left(1+\frac{s}{n}\right)^{n t}-1\right]}{\frac{s}{n}}[/tex]
where,
[tex]P_t[/tex] = is the account balance after t yearsd = regular deposit (the amount users deposit each year or month) r = annual interest rate in decimal form.n= number of compounding periods in a year.t = number of yearsLoren is confident that he'll have $500,000 when he retires.
= $500,000
He establishes a 30-year payout annuity in a 10%-paying account interest.
30 years = t
r = (10/100) = 0.1
Each month, the annuity could provide
n = 12
In the formula, replace the above values.
500,000 = d[( 1 + 0.1/12)³⁶⁰ - 1]/(10.1/12)
500,000 = d[(1.00833333)³⁶⁰ - 1]/0.00833333
500,000 = d [2260.487925]
Divide both sides by 2260.487925
d = $221.19
Therefore, the value of annuity provided each month is $221.19.
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The correct question is -
Loren already knows that he will have $500,000 when he retires. If he sets up a payout annuity for 30 years in an account paying 10% interest, how much could the annuity provide each month?
What is the maximum amount you would pay for an asset that generates an income of $150,000 at the end of each of five years, if the opportunity cost of using funds is 6 percent?
The opportunity cost of using funds is 6 percent will be $ 14305
What is meant by opportunity cost?When an amount of money is allocated to another type of investment or expense, an opportunity cost is said to have been foregone.
Given,
income = 150000
percentage = 6
number of years = 5
Present value = Future value [tex](\frac{1}{1 + r})^{n}[/tex]
r = rate of return
n = number of years
Present value = [tex]150000(\frac{1}{1 + 0.6})^{5}[/tex]
= 150000 × (1/1.6)⁵
= $ 14305
So, Opportunity cost = $ 14305
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Oriole company has beginning and ending raw materials inventories of $106000 and $130000, respectively. if direct materials used were $290000, what was the cost of raw materials purchased?
If direct materials used were $290000, the cost of raw materials purchased
$130000-$106000= $24
$290000+$24=$314000
Beginning and ending raw materials inventoriesYou can find the importance of a company's beginning raw materials inventory by bringing all the direct and indirect materials from the start of a specified duration and adding up their costs to discover their total worth. This is the ending raw materials inventory from the prior accounting period. The second inventory type is work-in-process, which is raw materials that are in the cycle of being transformed into finished interests.
If direct materials used were $290000 the cost of raw materials bought was $314000.
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Empowered consumers increase the pressure on supply chain due to increased demands at the retail level in terms of?
Empowered consumers increase the pressure on supply chain due to increased demands at the retail level in terms of Competitive Prices
Describe the supply chain.
A supply chain is a network of individuals and organisations in charge of creating a product and distributing it to customers. The initial link in the chain are the suppliers of raw materials, and the last is the vehicle that transports the finished good to the client. The lower costs and increased productivity that result from an efficient supply network can be used to illustrate the significance of supply chain management. Businesses enhance their supply networks to decrease costs and stay competitive.
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What is the primary reason for u.s. government bond yields to ripple through the bond market?
The primary reason for U.S government bond yields to ripple through the bond market is because the government bonds form a large proportion of investor holdings and corporate bonds are often priced relative to corporate bonds.
What is the government bond?It refers to the debt security issued by a government to support the government spending and obligations. It can pay a periodic interest payments called coupon payments, issued by the national governments and considered low-risk investments since the issuing government backs them.
In the exchange market, the primary reason for U.S government bond yields to ripple through the bond market is because the government bonds form a large proportion of investor holdings and corporate bonds are often priced relative to corporate bonds.
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Manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. which type of market does abc directly target?
a company that makes microprocessors and only sells to private companies who make expensive computers. ABC specifically targets the corporate world.
The economic and industrial worlds that will hire students after they have finished high school or college.
What do you mean by business world?
It refers to the area of the world dominated by companies. It signifies a separation between the "corporate world" and the "ordinary world." It speaks of CEOs, businesses, their deeds, and everyone who works for them. The entire corporate world is involved.
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A firm that enhances a commercial package by adding custom features and configuring it for a particular industry is called a(n) ____.
A firm that enhances a commercial package by adding custom features and configuring it for a particular industry is called a VAR.
How Do You Define Configuration?The configuration of a computer system refers to how its parts are arranged. Both hardware and software components are included in configuration. Sometimes, individuals expressly mention software components and hardware arrangement when referring to hardware configuration. Since some hardware or software programs require a minimum configuration, it is crucial to understand computer configuration.
The operating system can be used to learn more about setups. For instance, information about the operating system version, processor specifications, and RAM information are presented by choosing the "Properties" option on "My Computer" for Windows-based operating systems. The command "msinfo32" on an MS-DOS prompt can be used to get the same details about the settings of the computer.
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