Lorna makes an advance rent payment of $36,000 on January 1. These are the outcomes of this transaction. decreasing cash and increasing rent.
Cash in economics refers to currency in its actual, physical form, such as coins and banknotes.
Cash is defined in bookkeeping and financial accounting as current assets made up of money or money equivalents that may be obtained instantly or almost immediately (as in the case of money market accounts). Cash is viewed as a tool to either prevent a decline in the financial markets or as a reserve for payments, in the event of a structural or accidental negative cash flow.
To know more about cash
https://brainly.com/question/24373500
#SPJ4
The existence of cash is always relevant, and valuation ______ a relevant assertion for the cash account
The existence of cash is always relevant, and valuation may not be a relevant assertion for the cash account with an instant cash payment basis.
What is a cash account?Any kind of business-to-business or some business-to-consumer account that is accredited on an instant payment basis, with no credit or valuation being granted, is referred to as a cash account.
In a cash account, the investor must pay the entire price for any securities they wish to purchase.
Any transaction on a cash account must be paid in full of sufficient funds on the settlement date. Cash accounts are a form of brokerage account.
What is existence assertion?The existence assertion ensures that the information presented exists with proof and is free from fraudulent activity. This assertion is a test to the fact that this is a complete cash existence assessment and has all the items included in the statement for a given accounting period.
To know more about Cash accounts visit:
https://brainly.com/question/18644775
#SPJ4
Members of the dc real estate commission are limited to how many consecutive terms?
Participants of the dc real property fee: time period limit. A member can't serve for extra than 2 consecutive, full three-12 months phrases until the courtroom makes a special exception.
Consecutive refers to matters that are arranged or show up in sequential order. A criminal who serves a consecutive sentence does time for one conviction after any other.
Consecutive periods of time or events take place one after the other without interruption. The Cup was won for the third consecutive yr via the Toronto Maple Leafs. Synonyms: successive, strolling, following, succeeding extra Synonyms of consecutive.
Consecutive comes from the Latin consecutus, which means "following closely" without a gap. similar to the snowstorms — one typhoon came about each day, lower back to back, for 5 days in a row. Consecutive numbers also observe every difference or boost inside the proper order. as an example, 5, 6, 7, eight, 9, and 10 are consecutive numbers.
Learn more about consecutive here: https://brainly.com/question/21466038
#SPJ4
Government regulations require publicly traded firms to provide information, reducing
a. the need for diversification.
b. the adverse selection problem.
c. economies of scale.
d. transactions costs.
Government regulations require publicly traded firms to provide information, reducing the adverse selection problem. (option b)
What is adverse selection?Adverse selection is one of the effect of information asymmetry. Information asymmetry is when one of the parties to a transaction has more information than the other party.
Adverse selection is when either the buyer or the seller has more information about a product and uses this information to their advantage.
For example, a publicly traded firms is undergoing is unprofitable. If they were not required to provide information, there is the possibility that they would be able to deceive potential investors into thinking they are profitable. When investors invest, they would earn losses on their investment.
To learn more about adverse selection, please check: https://brainly.com/question/28482601
#SPJ1
If actual production totals 8,200 units, the flexible budget would show net income of?
A flexible budget is one that adapts to a company's activity or volume levels. A flexible budget continuously "flexes" with a business's variations in costs, as opposed to a static budget, which remains fixed at the numbers decided upon when the budget was produced.
Budget flexibility = Fixed Cost plus (actual unit of activity x variable cost per unit of activity)
A flexible budget is simple to adjust in response to changes in the volume of production and sales. Performance measurement and evaluation are made easier with a flexible budget. It takes into consideration changes in activity volume. For control, a flexible budget is preferable to a static one.
To learn more on flexible budget
https://brainly.com/question/16017304
#SPJ4
Revenue is recognized when the seller ______. (check all that apply.) multiple choice question.
Revenue is recognized when the seller :
collects cash from customers , if using cash basis accounting.
Services are provided even if cash has not yet been collected, if using accrual basis accounting
What is cash and accrual accounting?Accrual accounting is an accounting method in which an expense or income is recorded at the time when the transaction occurs. The purpose of accrual accounting is to match income and expenses with the period in which they occur.
If the accrual accounting method is used, the expense would be recorded when the order is made.
The cash basis of accounting is an accounting method that records revenue only when cash is received and records expenses only when cash is paid.
Cash accounting does not include account receivable or account payable. An advantage of the cash basis of accounting is it easy to use. A disadvantage of cash accounting is it is a less accurate representation of financial position of a company.
IFRS or US GAAP does not allow cash accounting but allows accrual accounting.
Here are the options:
Cash is collected from customers, if using cash basis accounting
2) Borrowing money from a bank, if using cash basis accounting
3) Borrowing money from a bank, if using accrual basis accounting
4) Services are provided even if cash has not yet been collected, if using accrual basis accounting
To learn more about cash basis of accounting, please check: https://brainly.com/question/14947252
#SPJ1
A database admin uses a show statement to retrieve information about objects in a database. this information is contained in a _____.
A show statement is used by a database administrator to get details about the items in a database. A data dictionary has this information.
facts factors applied or recorded in a database, facts device, or as a thing of a studies examine are given names, definitions, and houses in a data dictionary. A imperative store for metadata is known as a facts dictionary. records about facts is called metadata. Examples of information that might be found in a company's data dictionary include the names of all the databases that make up the organisation.The shape and content material of records are categorised and communicated the use of a information dictionary, which also offers insightful descriptions for mainly distinct data objects.
The database control machine where the information dictionary is stored is accountable for this. therefore, on every occasion a database change is finished, the database control device without delay updates the facts dictionary. due to its self-updating nature, that is referred to as an energetic statistics dictionary.
Learn more about data dictionary:
https://brainly.com/question/8897251
#SPJ4
The degree of a relationship is the number of attributes that are associated with it.
a. true
b. false
The statement that the degree of a relationship is the number of attributes that are associated with it is FALSE.
What is the degree of a relationship?The degree of a relationship is a measure of how many occurrences in one entity that are considered linked to the amount of occurrences in another entity.
The degree of a relation is the number of attributes that are associated with the entity and not the degree of a relationship.
In conclusion, this statement is false.
Find out more on the degree of a relationship at https://brainly.com/question/10949387
#SPJ1
Which type of writing would you most likely observe in an email between an employee and his or her supervisor?
A formal writing is the type of writing you would most likely observe in an email between an employee and his or her supervisor.
What is a formal writing?It refers to the type of writing that is is written for an audience you do not know on a personal level, that is, it is often the main style in academic writing and is more complex than informal writing.
The characteristics of a formal writing includes a more complex structure, an objective approach, use of full words rather than contractions and writing in the third person. Hence, as the relationship between an employee and supervisor is formal, then, the formal writing is the type of writing you would most likely observe in an email between an employee and his or her supervisor.
Therefore, the Option C is correct.
Missing option "Colloquial,Casual,Formal, Informal"
Read more about formal writing
brainly.com/question/12723104
#SPJ1
Suppose+you+deposit+$2,555.00+into+an+account+today.+in+15.00+years+the+account+is+worth+$3,954.00.+the+account+earned+____%+per+year.
The account earned+ 6.6 % per year.
What does one mean by deposit?You make a deposit when you add money to your bank account. to create savings and generate interest, you ought to put money in a bank. For money you'll withdraw at any time, a requirement deposit is made.
A certificate of deposit is an investment for the long term. once you take out a loan, you'll also pay a deposit as collateral.When you deposit money, you place it during a checking or savings account.
The minimum monthly deposit required from the customer is $100. an individual or item is put or left somewhere when they are deposited there.
What is deposit and withdrawal?
If you're wondering what's the difference between a deposit and a withdrawal, the reality is that they are exact opposites: A deposit is money put into a bank account for safekeeping until you need it. A withdrawal is money that's taken out of your account.
Learn more about from deposit :
brainly.com/question/1752098
#SPJ4
________ is an organizational practice that allows employees to make decisions that result in the employee having a sense of control and greater opportunities for learning.
Providing decision-making discretion is an organizational practice that allows employees to make decisions that result in the employee having a sense of control and greater opportunities for learning. (Option D). See further explanation below.
What is decision making?The process of choosing choices by recognizing a decision, acquiring information, and evaluating possible alternatives is known as decision-making.
By collecting important information and identifying options, a step-by-step decision-making process may help you make more careful, meaningful judgments.
The four decision-making types are given as follows:
Learn more organizational practices:
https://brainly.com/question/16049983
#SPJ1
Full Question:
________ is an organizational practice that allows employees to make decisions that result in the employee having a sense of control and greater opportunities for learning.
Positive deviance
Sharing information
Minimizing incivility
Providing decision-making discretion
Providing feedback
A firm has sales of $1,420, net income of $236, net fixed assets of $544, and current assets of $500. the firm has $96 in inventory. what is the common-size statement value of inventory?
The answer is 09.19%.
To find the common-size statement value of inventory.
Firstly, we need to calculate the Total Assets.
Total Assets = Current Assets + Net Fixed Assets
= $(500+544)
= $1044.
Now,
Find the Common size Value of Inventory.
Common-size value of inventory = Inventory/Total Stocks.
= $96/$1044
= 0.0919
= 09.19%
#SPJ4
Franchisers are permitted to recognize the revenue from the sale of a franchise whenever they wish under accrual-basis accounting. true /false
The statement is false. Revenues are typically recorded when earnings and expenses are compared to the periods in which they contribute to revenue under accrual-basis accounting method. Not when franchisers are permitted to recognize the revenue from the sale of the franchise.
Additionally, in accrual-basis accounting, activities that impact a company's financial statements are recorded in the periods in which they take place, and revenue is recognized in the period in which the performance obligation is met.
A brand can reach many more consumers by or through franchising since the brand already has a loyal following of consumers. In accounting of a franchise, according to the revenue recognition principle, revenue must be reported in the time frame that funds are received.
Learn more about why most franchise experts recommend that the FDD be examined carefully: https://brainly.com/question/1443002
#SPJ4
The portion of net income that the company has kept over a period of years and not used for dividends is called?
Retained profits is the term used to describe the portion of net income that a corporation keeps over time without paying dividends.
Retained profit is the portion of a company's net income that is held internally rather than distributed to shareholders. A company's long-term financial stability can be strongly predicted by its retained earnings.
As a measure of a company's financial soundness, retained profit is crucial for investors to comprehend. Numerous purposes can be served by operational gains. Although paying corporation taxes is required, there are some choices to be taken regarding what to do with the remaining profit.
To know more about Retained profits
https://brainly.com/question/23549885
#SPJ4
Tom's drug store buys toothpaste for $1.00 and decides to mark it up to $1.50. this strategy decision falls into the?
Tom's Drug Store chooses to increase the price of the toothpaste it purchases from $1 to $1.50. The marketing mix is where this strategic choice belongs.
Product, pricing, place, and promotion have historically been the four main components of the "marketing mix," which is a foundational business strategy (also known as the "4 Ps").
The early twenty-first century saw the emergence of marketing theory. First published in 1984, the modern marketing mix has now evolved into the preeminent framework for marketing management decisions. An extended marketing mix is employed in the services industry, often consisting of 7 Ps (product, pricing, promotion, place, packaging, positioning, and people), which are the basic 4 Ps plus process, people, and tangible evidence.
To know more about marketing mix
https://brainly.com/question/859394
#SPJ4
It is cheaper to produce corn in kansas than in death valley, california because corn needs a lot of water and moderate temperatures. this statement best represents this economic concept:______.
Answer:
Resources should be used as efficiently as possible to achieve society's goals.
Explanation:
Resources should be used as efficiently as possible to achieve society's goals.
The law of demand illustrates a(n) ____ relationship between price and ____.
a. direct; quantity demanded
b. inverse; quantity demanded
c. inverse; demand
d. direct; demand
The law of demand illustrates an Inverse relationship between price and Quantity demanded.
It has downward sloping and negative relation.
Increase in price will decrease the quantity demanded and vice versa
Option (a) is incorrect as there is inverse relationship not direct.
Option (c) is incorrect as there is relationship of price and quantity demanded not demand.
Option (d) is incorrect because there is no direct relation with the price and demand.
The law of demand illustrates an inverse relationship between price and the quantity demand.
Quantity demanded is defined as quantity demanded at particular price whereas demand refers to the different quantities at different prices that consumer is willing to buy
To know more about law of demand:
https://brainly.com/question/10782448
#SPJ4
Answer:
The correct answer is B
Explanation:
Place the appropriate label to classify each scenario as either microeconomic or macroeconomic.
The following scenarios are microeconomic:
A team of three partners starts a new ad agency
A laid-off worker enrols in job re-training
The following scenarios are macroeconomic:
the inflation rate rises, Nationwide,
new housing construction declines for the third month in a row.
What is macroeconomics and microeconomics?Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic variables that affect the whole economy. These economic variables include as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources
Here is the complete question:
Place the appropriate label to classify each scenario as either microeconomic or macroeconomic.
A team of three partners starts a new ad agency,
A laid-off worker enrolls in job re-training
the inflation rate rises, Nationwide,
new housing construction declines for the third month in a row.
To learn more about macroeconomics, please check: https://brainly.com/question/13244131
#SPJ1
Workers formed unions and eventually these were recognized as a legal entity having the right of _________________ .
Workers formed unions and eventually these were recognized as a legal entity having the right of collective bargaining.
Why is it called collective bargaining?
Beatrice Webb, a pioneer in the field of industrial relations in Britain, coined the term "collective bargaining" in 1891. It alludes to the kinds of collective bargaining and agreements that have been in place since since the development of trade unions in the 18th century.What is an example of collective bargaining?
Employees can bargain collectively with their unions for more favorable terms. An illustration would be when factory workers use their union to bargain for higher wages.
What are the 4 types of collective bargaining?
Collective bargaining comes in a variety of forms, such as composite concessionary, distributive, integrative, and productivity bargaining.
Learn more about collective bargaining
brainly.com/question/16213834
#SPJ4
What item flows from the income statement to the statement of retained earnings?.
Net Income flows from the income statement to the statement of retained earnings.
The balance sheet is balanced when net income from the income statement, less any dividends paid, is transferred to the retained earnings column. Additional connections- Long-term debt on the balance sheet is used to determine interest expenditure on the income statement.
Net income: In commerce, Net Income is the amount of cash left over on balance costs, like salaries and wages, the value of commodities or raw materials, and taxes, are paid. Net Profit is the amount that an individual keeps after paying taxes, insurance premiums, and retirement contributions.
Net Income flows from the income statement to the statement of retained earnings.
To learn more about Net Income, please visit the following link:
https://brainly.com/question/14531265
#SPJ4
Before posting a payment of $5,000, the accounts payable of senator company has a normal balance of $16,000. the balance after posting this transaction was:______.
Before posting a payment of $5,000, the accounts payable of senator company has a normal balance of $16,000. The balance after posting this transaction was $11,000.
A company's debt to its suppliers for delivered products and services for which the provider has given an invoice is referred to as accounts payable. It may also be the title of the group in charge of collecting any unpaid debts owed by a company to its suppliers.What kind of accounts payable are there?Accounts payable are the expenses that a business must cover. Office supplies, cleaning services, and staff uniforms are a few instances of accounts payable. Purchasing the order, receiving the order, and mailing the vendor invoice are the three phases in accounts payable.to learn more about Accounts payable, Click the links
https://brainly.com/question/24317224
https://brainly.com/question/14438810
#SPJ4
Employment is an example of which type of need?
a. self-esteem
b. physiological
c. love and belonging
d. safety and security
Employment is an example of safety and security type of need.
Employment is a partnership between two people that governs the delivery of compensated labor services. One party, the employer, who may be a company, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in accordance with the terms of a contract in exchange for doing the job that has been allocated to them. Employees perform work in exchange for pay, which may be made up of an hourly rate, piecework payments, or an annual salary, depending on the nature of the work performed, the industry conditions in effect, and the bargaining power of the parties. In some industries, employees could get stock options, bonuses, or gratuities. Employees may also receive benefits in some jobs in addition to compensation.
To learn more about Employment here
https://brainly.com/question/27961155
#SPJ1
In order for managers to determine the resources needed to achieve their objectives, a(n)?
A manager and employee agree on precise performance goals, and then a strategy is created to help them be achieved. This approach is known as management by objectives (MBO).
Having an effective control system aids in achieving goals. Planning, organizing, leading, and controlling are the four primary management activities that have replaced and replaced Fayol's functions over time.
In contrast, managers work to apply procedures like organizational structuring and budgeting in order to attain organizational goals. Managers must make judgments to employ resources economically and effectively in order to meet market goals and objectives.
To learn more on objectives on management
https://brainly.com/question/22364480
#SPJ4
The amount a firm earns from selling products to customers is its _______. multiple choice question.
The amount a firm earns from selling products to customers is its revenue
What is distinction between revenue and profit?
The difference between revenue and profit is that the latter is the total earnings from customers by selling products to them, whereas refers to the net earnings from selling products to customers after having considered the cost of those products, in other words, profit is the excess of sales revenue over the cost of goods sold.
In this instance, there was no mention of cost of those goods sold customers, in effect, we are not expected to consider cost of sales, which means that only revenue is received from customers when we sell to them, the profit can only be ascertained if we factor in cost of products sold, the amount required here is the revenue.
Find out more about revenue on:brainly.com/question/13476001
#SPJ1
Structures on the premises separated by clear space from the dwelling are covered under which part of the homeowners policy?
Structures on the premises separated by clear space from the dwelling are covered under coverage D of the homeowners policy?
What is coverage?The amount of risk or responsibility that an individual or entity has covered by using insurance services is known as insurance coverage. In the event of unforeseeable events, an insurer will issue insurance coverage, such as vehicle insurance, life insurance, or more unusual kinds, such as hole-in-one insurance.
When unforeseen occurrences like vehicle accidents or the death of an adult family supporter occur, insurance coverage aids customers in recovering financially. The insured person pays a premium to the same insurance company in exchange for this coverage. Numerous factors frequently affect both insurance coverage and price.
Learn more about insurance coverage
https://brainly.com/question/2501031
#SPJ4
A _____ is used by a business to determine where the potential customers are located.
Psychographics are data that help businesses determine how often potential customers use a particular product or service.
Why Conduct Market Research?Market research, commonly referred to as "marketing research," is the procedure used to assess the viability of a new service or product by conducting research with prospective customers. Market research enables a business to identify the target market and gather input from customers regarding their interest in the good or service as well as opinions.
This kind of research might be carried out internally, by the business itself, or by a different business that specializes in market research. Surveys, product testing, and focus groups are among methods that can be used. A small stipend or product samples are typically given as payment to test subjects in exchange for their time. A new product or service's research and development (R&D) process must include market research as a key step.
To know more about ' Market research ', visit :https://brainly.com/question/24906199
#SPJ4
The field of economics that deals primarily with the factors that determine wage rates, employment, and unemployment is called?
Business Economics is the field of economics that deals primarily with the factors that determine wage rates, employment, and unemployment
It is a field of both business and economics that deals with both the micro and macro aspect of the economics with the mix of the management involved in it.
It involves both the wage rates and employment and unemployment issues with the business activities and the management at all levels to consider the policies and procedures to be implied in the organisation. It also decides the income and wage expansion accordingly.
To learn more about business economics here,
https://brainly.com/question/13859230
#SPJ4
If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sales revenue, how will this error affect net income for the current period?.
There will be inadequate liabilities.
the required details about sales revenue is mentioned below
What Does Sales Revenue Mean?
Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. One part of sales revenue may be paid in cash, and the other part may be paid on credit using methods like accounts receivable.
Either the gross revenue total or the net revenue amount can be used to represent sales revenue on the income statement. All deductions for product returns, the potential for undelivered items, and the cost of bad debt are all included in net revenue.
to know more about sales revenue from the given link
https://brainly.com/question/16232387
#SPJ4
The carter corporation purchased $2,000 of direct materials on account from its largest vendor. carter also paid $230 in shipping costs. how would carter record this transaction?
raw materials inventory $2230
To credit carter corporation $2230
raw materials inventory will shown as debit and carter corporation as credit.
The $2,230 transaction is recorded by carter as a debit to raw materials inventory.
A vendor, usually referred to as a supplier, is a person or a company who sells goods. A vendor often finds a place to sell their products and services. The seller markets and sells their goods using whichever strategy suits them best after procuring the appropriate items. For instance, if it's a food truck, the vendor makes sure there are enough ingredients to prepare the menu items and serve the anticipated amount of people before driving to a specific location and starting to sell meals. To prepare for, obtain, and deliver the items and services they are contracted to offer, a vendor that supplies one of these major businesses would require a significantly larger operation.
To learn more about Vendor here
https://brainly.com/question/20505604
#SPJ4
suppose the advancement of computers has decreased the productivity of a paper mill. this will likely cause the supply curve for paper.
The supply curve for paper will experience a leftward shift because of the decreased productivity of a paper mill due to the advancement of computers. That means the supply of paper will decrease.
The supply curve is a curve that provides a graphical representation of the law of supply. It presents the relationship between the price of the commodity and the quantity of the same a seller is willing and able to supply. The quantity supplied is measured on the horizontal axis and the price on the vertical axis respectively. This demonstrates that as the price increases, the quantity supplied increases and vice versa given the ceteris paribus conditions.
The supply curve shifts with the minute change in the factors that are assumed to remain constant. These factors include labor productivity, input costs, technology, producer expectations, government actions, and so on. The leftward shift in the supply curve indicates a decrease in the quantity supplied and a rightward shift indicates an increase in the same and so on.
Learn more about the supply curve:
brainly.com/question/11717727
#SPJ4
If nominal gdp in 2006 for the united states was $13,377.2 billion and real gdp in 2006 (using 2005 as the base year) was $12,958.5 billion, how much inflation was there between 2005 and 2006?
$13,377.2 billion ÷ $12,958.5 billion) × 100 = 103.2 the importance of the GDP deflator between 2005 and 2006.
How do you find real GDP from nominal GDP and inflation?In general, calculating real GDP is accomplished by separating nominal GDP from the GDP deflator (R). For example, if an economy's prices have risen by 1% since the base year, the deflating digit is 1.01. If nominal GDP was $1 million, then actual GDP is estimated as $1,000,000 / 1.01, or $990,099.
Nominal GDP is derived by bearing the current year's quantity output by the current market cost.
To learn more about Nominal GDP visit the link
https://brainly.com/question/15171681
#SPJ4