Payroll costs for the office employees, commissions from sales, and building rent
What is meant by period cost?direct materials for product manufacture totaling $11,350. Rent for the corporate office in the factory was $4,280. Production workers receive incomes of $65,500. Manufacturing facility electric expense of $300. Period costs fall under the organization's sales and administrative functions, whereas product costs only apply when a team or organization develops a product. Rent and expenses are considered period costs, whereas labor and other production-related costs are included in product costs. Any expense that is not a product cost is a period cost. Period costs are instead expensed on the income statement in the period in which they are incurred, not included in the price of made or acquired goods.To learn more about, refer to:
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Five characteristics distinguish bond funds. These include maturity range, credit quality, type of bond, country, and _________.
Five characteristics distinguish bond funds, which include maturity range, credit quality, type of bond, country, and yield.
The maturity range refers to the length of time until the bond reaches its full value, with some bond funds focused on short-term investments and others on long-term investments.
Credit quality refers to the likelihood of the borrower repaying their debts, with higher credit quality bonds being considered safer investments. The type of bond refers to the type of debt instrument, such as corporate bonds, municipal bonds, or Treasury bonds.
The country refers to the location of the borrower, with some bond funds investing in a specific country, while others may be more diversified. Yield refers to the return on investment, with higher-yielding bonds generally being considered riskier.
Understanding these five characteristics can help investors make informed decisions when choosing bond funds as part of their investment portfolio.
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During Year 1, Chung Corporation earned $6,500 of cash revenue and accrued $2,600 of salaries expense.
Required
Based on this information alone:
Prepare the December 31, Year 1, balance sheet.
Determine the amount of net income that Chung would report on the Year 1 income statement.
Determine the amount of net cash flow from operating activities that Chung would report on the Year 1 statement of cash flows.
Necessary salary expenditure Balance Sheet, Net Income, Cash Flow, Accounting Equation
The accounting equation states that a company's total assets are equal to the total of its liabilities and shareholders' equity. One crucial component of the double entry accounting system is the distinct connection between equity, liabilities, and assets. The accounting equation ensures the financial accounts' balance. To put it another way, on the other side of the ledger, every debit item is covered by a credit entry. The accounting equation encapsulates the core traits of the double-entry method of accounting. The assets are always equal to the sum of the liabilities and equity, and the debit and credit are always equal.
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_________ is a chain of companies or individuals who help a product move through the various stages of production from producers to final users or consumers
Supply Chain is a chain of companies or individuals who help a product move through the various stages of production from producers to final users or consumers
A supply chain is an organization of people and organizations who are engaged with making an item and conveying it to the buyer. Joins on the chain start with the makers of the unrefined components and end when the van conveys the completed item to the end client.
Supply chain management is an essential interaction in light of the fact that an upgraded store network brings about lower costs and a more effective creation cycle. Organizations try to further develop their stockpile chains so they can decrease their expenses and stay cutthroat. A store network incorporates each step that is engaged with getting a completed item or administration to the client. The means might incorporate obtaining natural substances, moving them to creation, then shipping the completed items to a dissemination community or retail location where they might be conveyed to the customer.
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which of the following maximizes utility or satisfaction from consuming various amounts of goods and services given limited income and the prices of goods and services considered in a given period?
The principle of maximizing utility or satisfaction from consuming various amounts of goods and services given limited income and the prices of goods and services considered in a given period is called the law of diminishing marginal utility.
What do you mean by maximizing utility?
Maximizing utility is a concept in economics which states that individuals will make decisions that will provide them with the most satisfaction. This satisfaction is referred to as utility, and it is seen as a measure of well-being. In other words, maximizing utility means that individuals will take actions that will provide them with the most value or benefit. This concept is based on the idea that individuals are rational and that they will make decisions that will benefit them the most. Maximizing utility is the basis of many economic theories, and it is used to help explain consumer behavior and to determine the best course of action for businesses.
This law states that as more of a good is consumed, the marginal utility or satisfaction obtained from consuming an additional unit of the good will decrease.
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some advantages of delivering bad news in person include the ability to do which three of the following?
The advantages of delivering bad news in person include the ability are : Obtain immediate response from the audience, rapid response to receivers' unease and nonverbal signs to convey your concern.
What 3 aspects of bad news impact your delivery?
Researchers have found three features of the terrible news—severity, controllability, and likelihood—that influence how you approach delivering it in studies from the literature in medicine and social psychology. The terrible news's severity reflects how important or harmful it is. When the terrible news is presented in person, it can be clarified and explained more clearly. When receiving bad news verbally, recipients are given instructions they can use later.
When the moment comes to communicate, make an effort to be sincere and empathetic, and treat the other person with decency. Avoid trying to "sugarcoat" the facts; instead, be open and truthful about what occurred and your plans to make it right.
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Complete question
Some advantages of delivering bad news in person include the ability to do which three of the following?
Beedles Inc. needed to raise $14 million in an IPO and chose Security Brokers Inc. to underwrite the offering. The agreement stated that Security Brokers would sell 3 million shares to the public and provide $14 million in net proceeds to Beedles. The out-of-pocket expenses incurred by Security Brokers in the design and distribution of the issue were $200,000. What profit or loss would Security Brokers incur if the issue were sold to the public at the following average price? Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answers to the nearest dollar. Loss should be indicated by a minus sign.
$5.25 per share?
$
$6.25 per share?
$
$4 per share?
The profit or loss Security Brokers would incur, if the issue were sold to the public at the following average price is:
If the issue were sold to the public at an average price of $5.25 per share, Security Brokers would make a profit of $9,750,000 ($14 million in net proceeds - $200,000 in out-of-pocket expenses). If the issue were sold to the public at an average price of $6.25 per share, Security Brokers would make a profit of $15,650,000. If the issue were sold to the public at an average price of $4 per share, Security Brokers would incur a loss of $200,000.Learn more about Security Brokers:
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T/F in a knowledge management system, a knowledge base consists of logical rules that identify data patterns and relationships.
The given statement that "in a knowledge management system, a 'knowledge base' comprises logical rules that identify data patterns and relationships" is false because a knowledge base typically consists of information that has been accumulated and organized, such as documents, reports, articles, best practices, and case studies.
A knowledge base can be stored in a variety of formats, including databases, document management systems, and intranet portals. It is used to support decision-making, improve organizational efficiency, and enhance learning and innovation.
Logical rules that identify data patterns and relationships are typically part of a different component of a knowledge management system, such as an expert system or a data mining system. These systems use artificial intelligence techniques, such as rule-based systems, decision trees, and neural networks, to identify patterns and relationships in data and make predictions or recommendations based on that information.
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when you assign tasks to employees based on comparative advantage, task assignments go to those with the
Activities are given to employees with the lowest opportunity costs when tasks are distributed based on comparative advantage.
How are team members assigned tasks?Consider team members' talents, knowledge, and experience when assigning tasks, as well as their workloads and chances for advancement. Inform team members of the task they have been assigned and the required standard of performance after you have arranged the distribution of work packages.
What advantages can task assignments offer?You can view team over- and under-allocations thanks to them. You can determine who is overworked and modify their task. That can entail delegating work to someone else or delaying them for a longer length of time.
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classify each of the following as a violation of confidentiality, of integrity, of availability, or of some combination thereof.
Confidentiality refers to protecting sensitive information from unauthorized access, Integrity refers to ensuring data accuracy and completeness, Availability refers to ensuring data and systems are accessible and functional when needed.
Confidentiality refers to the protection of sensitive information from unauthorized access or disclosure. Confidential information may include personal data, trade secrets, financial information, and other sensitive information that must be kept secure. Ensuring confidentiality helps to maintain privacy and prevent data breaches.
Integrity refers to the accuracy and completeness of data and systems. It ensures that data is not tampered with or altered without proper authorization. Ensuring data integrity helps to prevent errors and maintain trust in the accuracy of information.
Availability refers to the ability of data and systems to be accessible and functional when needed. High availability systems are designed to provide reliable and uninterrupted access to data and services. Ensuring availability helps to prevent downtime and ensures that systems are always available when needed.
John copies Mary's homework - Violation of confidentiality.Paul crashes Linda's system - Violation of availability.Carol changes Angelo's check - Violation of integrity.Gina forges Roger's signature - Violation of integrity.Rhonda registers the domain name - Violation of availability and integrity.Jonah obtains Peter's credit card number - Violation of confidentiality, integrity, availability.Henry spoofs Julie's IP address - Violation of confidentiality, integrity.To learn more about confidentiality visit: https://brainly.com/question/18461356
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Your question seems to be missing, but i suppose the full question was:
"Classify each of the following as a violation of confidentiality, of integrity, of availability, or of some combination thereof.
John copies Mary's homework.Paul crashes Linda's system.Carol changes the amount of Angelo’s check from $100 to $1,000.Gina forges Roger's signature on a deed.Rhonda registers the domain name “AddisonWesley.com” and refuses to let the publishing house buy or use that domain name.Jonah obtains Peter’s credit card number and has the credit card company cancel the card and replace it with another card bearing a different account number.Henry spoofs Julie’s IP address to gain access to her computer."An economy produces three goods: houses, guns, and apples. The price of each is $1. For the purposes of this problem, assume that all exchange involving houses involves newly constructed houses.
(a) Households buy 10 houses and 90 apples, eating them. The government buys 10 guns. There is no other economic activity. What are the values of the different components of GDP (consumption, investment, government spending, exports/imports)?
(b) The next year, households buy 10 houses and 90 apples. The government buys 10 guns. Farmers take the seeds from 10 more apples and plant 3 them. Households then sell 10 apples to France for $1 each and buy 10 bananas from Canada for $2 each, eating them too. What are the values of the components of GDP?
(c) Return to the economy in part 1a. The government notices that the two richest households consume 40 apples each, while the ten poorest consume one each. It levies a tax of 30 apples on each of the rich households, and gives 6 apples each to the 10 poorest households. All other purchases by households and the government are the same as in (a). Calculate the components of GDP.
Personal consumption, corporate investment, government expenditure, and net exports are the four main components of the gross domestic product.
What are the GDP's four primary components?Consumption, investment, government spending, exports, and imports make up the components of the GDP when it is calculated using the expenditures method.The sum of all value added produced inside an economy is measured as GDP. The value added is the difference between the price of the produced products and services and the price of the commodities and services required to make them, or what is known as intermediate consumption.As a result, the following formula is used to determine GDP: GDP = Consumption + Investment + Government Spending + Net Exports, or GDP = C + I + G + NX. Investment (I) refers to spending on goods and services for personal consumption by families and nonprofit organisations.
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without using a calculator, approximately what rate would you need to earn to turn $500 into $2000 in 10 years
To turn $500 into $2000 in 10 years without using a calculator, you would need to earn a rate of about 7.2% per year. Today, calculators are widely available for use in many different contexts.
What do you know about a calculator?
A calculator is a small electronic device used to perform basic mathematical operations such as addition, subtraction, multiplication, and division. Modern calculators come in a range of shapes and sizes and offer a variety of features including graphing capabilities, scientific functions, and memory storage. Calculators are commonly used in schools and universities, as well as in the home and workplace. Some calculators are capable of solving complex equations, while others are designed to be used in specific areas such as engineering and finance. Calculators are also used in many other fields including medicine and science. The use of calculators has been around for centuries, with the earliest version being the abacus.
So, The required answer is 7.2% per year.
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anyone who would suffer a(n)________loss from the destruction of personal property has an insurable interest in that property.a
Anyone who would suffer an financial loss from the destruction of personal property has an insurable interest in that property.
Who are the persons who have insurable interest?a person's stake in anything, such as a piece of property or another individual, which makes them liable for any losses if the object or person is damaged. According to insurance law, you can only purchase insurance for a person or item that you have an insurable interest in.
What makes a loss insurable?Loss must originate from an unintended action or an accident in order to be covered by insurance. In essence, it must be out of the business's hands or influence. Losses also have to be random, eliminating the possibility of unfavourable selection.
What is an example for insurable interest?A policyholder purchasing property insurance for their own home but not for that of their neighbour is an example of an insurable interest. A person does not have an insurable interest in any monetary losses brought on by harm to a neighbor's home.
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identify tips that would help jim listen more effectively to what his international colleague has to say about the production process. check all that apply.
Tips that would help him listen more effectively to what his international colleague has to say about the production process are :
-Judge ideas, not appearances
-Keep an open mind
-Focus on nonverbal signals
Who is deemed to be a colleague?
Someone with whom you share an office setting is referred to as a colleague. They may be a direct or indirect coworker of yours; for instance, they may be your manager or a member of a separate department.
The following advice would enable him to pay closer attention to what his foreign colleague has to say about the production process Judge ideas, not outward appearances, and be open-minded and pay attention to nonverbal cues.
Therefore, Colleagues can also be business associates who are employed in your sector or line of work.
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NYSE is an example of:
a. an organized exchange
b. a commodities exchange
c. all of these
d. an over-the-counter market exchange
NYSE is the example of a. an organized exchange. New York Stock Exchange is generally can be defined as an American stock exchange.
In the term of financial economic and business, The New York Stock Exchange or also known as NYSE generally can be defined as an American stock exchange. The New York Stock Exchange or also known as NYSE is located in the Financial District of Lower Manhattan in New York City. New York Stock Exchange has a function to provides a central marketplace for investors to buy and sell stock. New York Stock Exchange is a part of Intercontinental Exchange or known as ICE.
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TRUE/FALSE. the interest rate paid on eurodollar deposits depends on the particular bank's lending rate and on rates available on u.s. money market instruments.
Above statement is correct about Eurodollars.
What Is the Eurodollar?Deposits made in U.S. dollars at foreign institutions or at American banks' international branches are referred to as "eurodollars." Eurodollars are exempt from Federal Reserve Board regulation, including reserve requirements, because they are stored outside of the United States. Initially, practically all of the dollar-denominated deposits that were not subject to American banking laws were held in Europe (hence, the name eurodollar). They are currently extensively held at branches that are situated in the Bahamas and the Cayman Islands.
What is the basic reason for the existence of the Eurodollar market?Exchange regulations in 1957 are seen to have been an early catalyst for the market's creation. Foreign deposits became more appealing thanks to the controls because non-residents may utilise them as credit instruments.
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TRUE/FALSE. A company's value proposition helps establish customer expectations, which the company must consistently fulfill.
The value proposition of a business aids in establishing client expectations, which the business must continually meet. Therefore, the given statement is true.
What is the value proposition?
A company's value proposition, or the whole mix of benefits or economic worth it promises to provide to present and potential customers (i.e., a market segment) who will purchase its goods and/or services, is known in marketing as the "value promise." It is a component of a company's entire marketing plan that distinguishes its brand and gives it a strong market position. A value proposition could be applicable to the whole company, certain divisions within it, client accounts, products, or services.
A value proposition can be expressed in writing as a business or marketing statement (sometimes known as a "positioning statement") that enumerates the benefits of using a certain good or service.
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examine the budgeted expenses. list and discuss circumstances or events that could make it difficult to stick to the budget limits.
It can be difficult to stick to budget limits if there are unexpected expenses, such as an emergency repair or an unexpected medical bill.
Inflation can also make it difficult to stick to budget limits, as prices for goods and services may rise faster than expected. If income decreases, it can also be difficult to stick to budget limits. Additionally, if the budget is unrealistic or does not reflect actual spending habits, it can be difficult to stick to it. Finally, if the budget does not account for changes in lifestyle or other factors, it can be difficult to stay within the budget limits.
A medical bill is a bill sent by a hospital or other health care provider to a patient or other responsible party for services rendered. Medical bills typically include the cost of services, such as tests and procedures, as well as charges for any medications or supplies used.
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When Melanie and her co-workers refused to accept pay cuts, her employer outsourced their programming tasks to workers in another country. This phenomenon is occurring throughout the programming industry. What type of unemployment is this?
Structural Type of unemployment. When Melanie and her co-workers refused to accept pay cuts, her employer outsourced their programming tasks to workers in another country.
Unemployment, according to the OECD (corporation for economic Co-operation and development), is humans above a distinct age (generally 15) no longer being in paid employment or self-employment but currently to be had for work in the course of the reference duration.
Unemployment is measured via the unemployment fee, that is the variety of individuals who are unemployed as a percentage of the labor pressure (the entire variety of people employed delivered to the ones unemployed).
Unemployment and the popularity of the economic system can be encouraged by way of a rustic through, for instance, financial policy. moreover, the economic authority of a rustic, such as an important bank, can impact the supply and fee for cash thru its monetary coverage.
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use the range names in formulas to find the total for each month. fill in the total for each month below.
The total expenses for each month can be found by summing the values in the corresponding row for each column. The totals are:
The total expenses calculated using range sum function in excel based on the given data. The sum function add all the values given in the specific range. Therefore, the expense for each month is given below that are calculated using sum function.
April: 41100
May: 41500
June: 42040
July: 45440
August: 46160
September: 44980
October: 40850
November: 40250
December: 39000
You can find the complete solution in the attached excel file. The question data is also provided in that excel file.
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assume the initial equilibrium is at point w. if the number of manufacturers producing electric cars increases and the number of buyers of electric cars increases, the equilibrium point will move from w to:
The equilibrium point will shift from W to Y if both the number of companies making electric cars and the number of consumers buying them both rise.
What is the equilibrium point?
An equilibrium point is a constant solution to a differential equation in mathematics, more precisely in differential equations.
By examining the signs of the eigenvalues of the linearization of the equilibria's equations, equilibria can be categorised. In other words, the equilibria may be classified by evaluating the Jacobian matrix at each of the system's equilibrium points and then determining the resulting eigenvalues. Then, by locating the eigenvector(s) associated with each eigenvalue, the behaviour of the system in the vicinity of each equilibrium point can be qualitatively (or even statistically, in some cases) identified.
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which of the following limits on the federal government's power to tax is implied but not stated in the constitution?
States are exempt from paying taxes for their administrative costs is the limit on the federal government's power to tax is implied but not stated in the constitution
What is the federal government?
A federal system of government is one in which a bigger central authority and smaller local and regional administrations are subordinate to it. The Constitution of the United States established the federal government's authority. Federal governments that work best in vast nations with a wide diversity of their population, but where a common culture still persists and binds everyone together, are perfect examples.
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for example, imagine that you have been invited to present a marketing plan to your company's new client, a pet food manufacturer. you have a descriptive slide presentation ready and a thorough outline prepared. however, if you cannot express yourself clearly, you might not win the new client. in addition to your writing skills, your
You should practice speaking in order to increase your self-assurance and prepare ready for a presentation that is a success.
What are speaking abilities?Students will gain valuable communication skills during their time in school that will serve them well throughout their life. Speaking ability is a necessary skill for effective communication. They make it possible for us to communicate verbally and in a way that the listener can understand.
The four pillars of effective speaking are vocabulary, grammar, pronunciation, and fluency. Throughout our lives, we use both formal and informal speaking skills in a number of contexts. Speaking abilities can be separated into formal and informal categories.
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FILL THE BLANK when managers look at social issues in general terms of the extent to which they are problematic they are following the ___ approach to strategic corporate social responsibility.
When managers look at social issues in general terms of the extent to which they are problematic they are following the outside-out approach to strategic corporate social responsibility.
What is the outside-out approach to Corporate Social Responsibility?A manager uses various approaches to manage the Corporate Social Responsibility (CSR) of the company. They include outside-in, inside-out, inside-in, and outside-out.
The outside-out approach refers to a situation whereby the manager tries to find a way to curtail or eradicate any problematic area outside the company, and considers it a part of the organization's social responsibility.
Here, the manager thinks the company could fulfill its responsibility to society by balancing the outside problem.
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The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows:1 Dec. 31, 20Y8 Dec. 31, 20Y72 Assets3 Cash $95,000.00 $110,000.004. Accounts receivable (net) 260,000.00 280,000.005 Inventories 520,000.00 450,000.006 Prepaid expenses 15,000.00 5,000.007 Equipment 1,130,000.00 800,000.008 Accumulated depreciation-equipment(235,000.00) (190,000.00)9 Total assets $1,785,000.00 $1,455,000.0010 Liabilities and Stockholders’ Equity11Accounts payable (merchandise creditors)$100,000.00 $75,000.0012Mortgage note payable 0.00 500,000.0013Common stock, $10 par 500,000.00 200,000.0014Paid-in capital in excess of par—common stock400,000.00 100,000.0015Retained earnings 785,000.00 580,000.0016Total liabilities and stockholders’ equity$1,785,000.00 $1,455,000.00
Yellow Dog Enterprises Inc.'s liabilities and stockholders' equity also increased from $1,455,000.00 to $1,785,000.00, while the company's assets increased from $1,455,000.00 to $1,785,000.00.
Analyses of Comparative Balance Sheets Total Funds: The fact that the total assets of Yellow Dog Enterprises Inc. increased from $1,455,000 in 20Y7 to $1,785,000 in 20Y8 indicates that the business has increased its investments in assets in order to generate more revenue.
2. Cash: The cash flow of Yellow Dog Enterprises Inc. decreased from $110,000 in 20Y7 to $95,000 in 20Y8, which could have been caused by higher investments in other assets or higher operational costs.
3. Net accounts receivable: The fact that Yellow Dog Enterprises Inc.'s accounts receivable decreased from $280,000 in 20Y7 to $260,000 in 20Y8 suggests that the business is getting paid by customers more quickly.
4. Inventories: The fact that Yellow Dog Enterprises Inc.'s inventories increased from $450,000 in 20Y7 to $520,000 in 20Y8 indicates that the business is accumulating goods in preparation for increased sales.
5. Prepaid Costs: The rise in Yellow Dog Enterprises Inc.'s prepaid expenses from $5,000 in the previous year to $15,000 in the current year suggests that the business is making advance payments.
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FILL IN THE BLANK Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of _________.
Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of Diversification.
What are the top two CPU producers for personal computers?
One of the most popular manufacturers is Intel, while AMD also produces a variety of CPU series. Generally speaking, the more capacity you have for processing tasks, the higher the number in the series.
A personal computer and printer firm called Elmo Corp. just started selling office furniture. This is a good illustration of diversification.
Therefore, Investing across many financial instruments, industries, and other categories is a risk management strategy known as diversification.
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You are given the following long-run annual rates of return for alternative investment instruments:
U.S. Government T-bills 3.50% Large-cap common stock 11.75
Long-term corporate bonds 5.50
Long-term government bonds 4.90
Small-capitalization common stock 13.10
The annual rate of inflation during this period was 3 percent. Compute the real rate of return on these investment alternatives.
Real rate of return on the U.S. Government T-bill is 0.4854%.
According to Fisher equation:
1+ Rnominal = (1+r real) + (1+ inflation rate)
Real return on the stock market= {(1+3.5%)/(1+3%)} -1
Real rate of return on the U.S. Government T-bill is 0.4854%
What is stock?
All of the shares through which ownership of a corporation or company is split are known as stock (sometimes known as capital stock).Once all senior claims, such as secured and unsecured debt, have been satisfied, this typically entitles the shareholder (stockholder) to that portion of the company's earnings, proceeds from the liquidation of assets, or voting power, frequently allocating these in proportion to the amount of money each stockholder has invested.To know more about stocks, click the link given below:
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software solutions was hired by jones company on december 1 to install and updated software. the total entire amount of $1,800 in revenues is to be paid to software solutions by jones company when the job is completed the following january 31. as of december 31, one half of the software installation and updates has been completed. on december 31, software solutions makes the following entry to adjust for the revenues earned during december:
900 in receivables and 900 in service revenue. Even though we have only received half of the expected revenue, we are not paid in cash until the project is finished on January 31.
What adjusted entry, using five days as a full work week, would Abbott make on Wednesday, December 31?If December 31 falls on a Wednesday, three days' worth of wages are accounted for as a cost as of that day but haven't yet been paid.
What will happen if a journal entry is made to use the prepaid rent account for one month's rent?The income statement and balance sheet will be affected if an unintentional journal entry and posting for the usage of one month's rent from the prepaid rent account during the year is missed.
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An employee's net (or take-home) pay is determined by gross earnings minus amounts for income tax withholdings and the employee'sa. portion of FICA taxes and unemployment taxes.b. portion of FICA taxes, unemployment taxes, and any union dues.c. and employer's portion of FICA taxes, and unemployment taxes.d. portion of FICA taxes and any union dues.
(a) portion of FICA taxes and unemployment taxes. Gross pay is subtracted with amounts for employee's insurance and income tax withholdings to get the employee's net (or take-home) pay.
The amount that an employee receives after all required deductions have been made is known as their net pay. This includes their share of FICA taxes as well as unemployment insurance. The sum of an employee's gross earnings is the amount earned before any deductions are made. The most typical deductions are for federal and state income taxes, FICA taxes (Social Security and Medicare), unemployment insurance, and any union dues. A portion of these taxes must be paid by the employee, and the employer is responsible for the remaining sum. The employee's net pay is computed by deducting these sums from the employee's gross income.
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during an authorized penetration test, michael discovered his client's financial records. which of the following should he do?
When Michael found his client's financial documents during a legitimate penetration test, he should see a lawyer for assistance.
What is a penetration test?A penetration test sometimes referred to as a pentest or ethical hacking, is a legitimate simulated cyberattack on a computer system that is carried out to examine the system's security.
This is distinct from a vulnerability assessment.
The test is run to find both strengths and weaknesses, allowing a thorough risk assessment to be completed.
Weaknesses (also known as vulnerabilities) include the possibility for unauthorized parties to access the system's features and data.
The process often starts by identifying the target systems and a specific goal, then reviewing the information already available and employing various strategies to achieve that goal.
So, Michael should seek legal advice after discovering his client's financial records during an honest penetration exam.
Therefore, when Michael found his client's financial documents during a legitimate penetration test, he should see a lawyer for assistance.
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During an authorized penetration test, Michael discovered his client's financial records. What should he do?
Errors versus Fraud Read the overview below and complete the activities that follow. Misstatements can be of two types. The first--an error-is deemed to be unintentional. The second type--fraud-is deemed to be an intentional act. CONCEPT REVIEW: Auditors have the responsibility to plan and perform an audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Misstatements are classified as either unintentional (error) or intentional (fraud). error) or intentional (fraud)- 1. Omissions of amounts or disclosures is considered a(n) 2. In 3.is another term for misappropriation of assets. 4. Mistakes in data processing can easily result in 5 Financial statements can be misstated due to errors,, or noncompliance the financial statements are intentionally misleading. with laws or regulations.
The correct answer for these misstatements are- 1) Error 2)Fraud 3)Fraud 4)Error 5)Fraud. Planning and carrying out an audit to gain a reasonable level of assurance that the financial statements are accurate.
How Do Financial Statements Work?Financial statements are documents that describe a company's operations and financial performance. Government organizations, accounting companies, etc. frequently audit financial statements to guarantee accuracy and for tax, financing, or investing purposes.
What are financial statements mostly used for?A company's financial health may be seen at a single glance thanks to the financial statements that reveal information about its operations, performance, and cash flow. Since they reveal details about a company's earnings, costs, profitability, and debt, financial statements are crucial.
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