The adjusting journal entry required to record depreciation includes a(n) "Debit entry" to accumulated depreciation.
What is Journal Entry?
A business transaction is documented in the accounting records of the company using a journal entry. Journal entries are often made in the main ledger, but they may also be produced in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarised. After then, the general ledger is used to compile the company's financial statements. The logic of a journal entry requires that every business transaction be recorded in at least two places (known as double entry accounting). For instance, when you make a cash sale, both the revenue account and the cash account are increased. Alternately, making purchases on credit leads to an increase in the accounts payable and inventory accounts.
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The tax cuts and jobs act of 2017 set the corporate tax rate to be ______ regardless of the level of taxable income.
The tax cuts and jobs act of 2017 set the corporate tax rate to be 21% regardless of the level of taxable income.
Tax Cuts and Jobs Act of 2017
The Tax Cuts and Jobs Act, which altered the Internal Revenue Code of 1986, was reintroduced in Congress as the Act to provide for reconciliation according to sections II and V of the concurrent resolution on the budget for fiscal year 2018, Pub.L. 115-97.What did the Tax Cuts and Jobs Act of 2017 achieve?Deductions, depreciation, expensing, tax credits, and other business-related tax items have altered as a result of the Tax Cuts and Jobs Act ("TCJA"). Business owners may use this side-by-side comparison to comprehend the changes and make appropriate plans.To learn more about the Tax Cuts Act, Click the links.
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What would be the occupancy rate for a hotel that has 200 rooms on a day in january in which it sold 100 rooms and received total rooms revenue of $17,000?
The occupancy rate for the hotel that has 200 rooms on a day in January is 50%.
What is revenue?
In the context of accounting, revenue refers to the total income from sales of products and services that are directly related to the company's core operations. Sales or turnover are two other terms for commercial revenue. Interest, royalties, and other fees are sources of income for some businesses.
Revenue is the entire amount of money made through the sale of products or services related to a business's core operations. Because it appears at the top of the income statement, revenue, also known as gross sales, is frequently called the "top line."
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In a court of equity, the doctrine that will bar a lawsuit if it is not filed within a proper time is known as:_________
Equitable remedy is the doctrine used in equity courts that prevents lawsuits from being filed if the appropriate deadline has passed.
In order to respond more adaptably to shifting social conditions than was possible under precedent-based common law, courts of equity devised equitable remedies beginning around the reign of Henry VIII.
The Court of Chancery in England granted equitable remedies, and they are still readily available in the majority of common law countries today. Legal and equitable remedies have been combined in many countries, and a single court may now impose either or both remedies. Despite substantial judicial consolidation, there are still some notable situations where the gap between equitable and legal remedies is still important. Notably, the Seventh Amendment of the United States Constitution keeps "at common law" civil actions with a value of over $20 from losing their right to a jury trial.
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Descriptive analytics helps detect hidden patterns in large quantities of data to group data into sets to predict behavior. True or false?.
False, Descriptive analytics do not help detect hidden patterns in large quantities of data to group data into sets to predict behavior
How does descriptive analysis work?Undoubtedly, descriptive analytics is the most user-friendly data analysis method. It involves dissecting (or parsing) data and summarizing its key components. This is how descriptive analytics summarises past occurrences without focusing on their methods or causes. Because it is essentially explanatory, descriptive analytics uses basic descriptive statistics. This includes measures of central tendency (mean, mode, and median), distributional metrics (frequency or count), and measures of variability (such as variance and standard deviation). Additionally, it assesses the location of other data points, such as the percentile range or interquartile range, as necessary. Descriptive analytics commonly use reports, pivot tables, and visualizations like histograms, line graphs, pie charts, and box-and-whisker plots to present their findings.
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____________ is the part of the self-concept that involves evaluations of self-worth.
a. facework
b. reflected appraisal
c. self-esteem
d. impression management
Answer:
i think self-esteem. Am I right?
Gertrude company receives $15,200 relating to its installment note receivable; of this amount $9,000 represents interest. in its statement of cash flows, this inflow should be reported as a(n):________
Gertrude company receives $15,200 relating to its installment note receivable; of this amount $9,000 represents interest. in its statement of cash flows, this inflow should be reported as a(n) operating activity inflow of $9,000.
A company , abbreviated as co., is a prison entity representing an affiliation of people, whether herbal, legal or a combination of each, with a specific goal. employer contributors share a not unusual reason and unite to obtain unique, declared desires.
An organization is a criminal entity shaped by a group of people to interaction in and function a business company in a business or business capability. An enterprise's commercial enterprise line depends on its structure, which could variety from a partnership to a proprietorship, or maybe an organization.
it is a complicated enterprise shape, with higher set-up and administrative fees due to more reporting requirements and higher-degree felony obligations.
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All of the following accounts have normal debit balances except for? cash. expenses. capital. accounts receivable.
All of the following accounts have normal debit balances except for: capital
How do we classify transactions?
Ordinarily, expenses and assets would have a debit balance because an increase in assets or expense is to be debited, hence, expenses, cash , which is an asset as well as accounts receivable, would have a normal debit balance.
In other words, capital would have a normal credit balance because an increase in capital, liabilities as well as income are credited based on the double entry principle.
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According to south carolina law, buyers and sellers are defined as customers if they ______.
According to South Carolina Law, if buyers or sellers opt not to have an agency connection with a broker, they are deemed to be consumers.
A fiduciary relationship known as an agency arises when a "principal" authorizes a "agent" to act on his or her behalf. The principle has power over the agent, and the agent must agree to her directives. Employer-employee, attorney-client, and corporate-officer interactions are all well-known instances of agency relationships. An agency relationship can be established with just one side's expression of consent. Oral or written communication can be this manifestation. Attorney retainer agreements are an example of a written agency agreement. Agency ties can also develop naturally without a formal agreement.
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What+is+the+present+value+of+a+5-year+annuity+due,+with+a+$100+annual+cash+flow,+paid+semi-annually,+and+a+discount+rate+of+20%?
The present value of a 5-year annuity due, with a $100 annual cash flow, paid semi-annually, and a discount rate of 20%.
This question requires the application of PV of an annuity due, which can mathematically be represented as:
1- (1 + i)- PV of an Annuity Due =R*- i *(1 + i)
i = 20%/2 = 10% (semi-annually)
n = 5 * 2 = 10 semi-annual periods
R = $100/2 = $50 (semi-annually)
PV = 50* a 1-(1 + 0.10) -10 0.10 *(1 + 0.10)
PV = 50 * 6.1446 * 1.1
PV = $337.95
An annuity is a long-term investment issued by an insurance company that protects you against the risk of loss of income. Annuities turn purchase payments (contributions) into recurring payments that last a lifetime.
The main drawbacks are long contracts, loss of control over investments, little or no interest income, and high fees. Annuities also offer fewer liquidity opportunities and you must withdraw money from your annuity without penalty until you reach age 59.5. An annuity is a good investment for those who want a stable income after retirement. Annuities are insurance products, not investments in high-growth stocks. This makes pensions a more balanced addition to the financial portfolio for those approaching or in retirement.
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Which one of the following is not a current liability? select one:
a. taxes payable
b. accounts payable
c. wages payable
d. wage expense
e. none of the above
Wage Expense is not an current liability, therefore the correct option is D
What is Wage Expense?
The cost that businesses incur to pay hourly employees is known as a wage expense. In addition to payroll taxes and employee perks, this line item may also include them. In the income statement's expenditure section, a wage expense could be listed as a line item. This kind of expense is changeable. Wage costs are occasionally broken down by department, and the production department is most likely to receive a separate report. This division frequently has the highest percentage of hourly workers. On the other hand, the cost of goods sold (COGS) line item on the income statement may include pay costs for production personnel.
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a. The future value of $420 eight years from now at 10 percent. (Round your FV factor to 3 decimal places and final answer to 2 decimal places.)
The following equation can be used to determine future value with compound interest: future value = present value x (1 + interest rate)n. Use this formula to determine future value using simple interest: Future value equals current value multiplied by [1 + (interest rate over time)].
According to the formula for future value, FV = PV*(1+i)n, future value is equal to the present value multiplied by the sum of the annual percentage rate of interest multiplied by the number of time periods
Finance professionals use the Future Value (FV) calculation to determine the value of a cash flow at a time after it was initially received.
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Which type of information system would you use to forecast the return on investment if your firm planned to switch to a new supplier that offered products at a lower cost?
The type of information system would you use to forecast the return on investment if your firm planned to switch to a new supplier that offered products at a lower cost is DSS i.e. Decision Support System.
Decision Support System: A computerized system known as a decision support system (DSS) collects, evaluates, and then synthesizes data to create detailed information reports. The purpose of an ordinary operations application, which is only to collect data, is different from a decision support system.
The type of information system would you use to forecast the return on investment if your firm planned to switch to a new supplier that offered products at a lower cost is DSS i.e. Decision Support System.
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The cost of an intangible asset includes all of the following except? purchase price. legal fees. other incidental expenses. all of these choices are included.
Similar to how fixed assets are acquired, intangible assets must have their costs capitalized. When purchasing a building, all costs, including real estate commissions and fit-out fees, are capitalizable.
D is the correct option.
What is Intangible Assets?
Different procedures can be used to develop intangible assets. The most typical method is via purchasing another company. When this happens, any research and development, goodwill, etc. are recognized by the purchasing business. At the time of purchase, each of these products must be valued.
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The critical difference in tort liability between the average person and skilled professionals is known as:_____.
The critical difference in tort liability between the average person and skilled professionals is known as the Standard Of Care.
Standard of Care: In establishing whether someone was negligent and potentially liable for a tort, the standard of care is a key notion. A person is accountable for negligence if they violate the standard that applies to them and their actions hurt another person.
TORT: A tort is a civil wrong for which a person is legally responsible. A tort is an act or omission that causes harm to another person.
The critical difference in tort liability between the average person and skilled professionals is known as the Standard Of Care.
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Because economic resources are used to produce goods and services, they are called:______
Economic resources are referred to as factors of production because they are employed in the production of products and services.
The resources that make up the economy's foundation and that people employ to produce commodities and services are known as the factors of production. Land, labor, capital, and entrepreneurship are the four groups into which economists divide the components of production.
What makes production elements so crucial?
The overall productivity potential of a given economy is comprised of the factors of production as a whole. Economists and decision-makers can assess an economy's potential, make predictions, and develop policies to increase productivity by being aware of their relative accessibility and availability.
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Under perfect competition, any profit-maximizing producer faces a market price equal to its?
Under perfect competition, any profit-maximizing producer faces a market price equal to its Marginal cost.
A perfect competition, often referred to as an atomistic market, is defined by various idealizing criteria, which are together referred to as perfect competition, or atomistic competition, in economics, specifically general equilibrium theory.
Any business that seeks to maximize its profits must contend with a market price (P = MC) that is equal to its marginal cost. This suggests that the price of a factor is equal to its marginal revenue product. It enables the supply curve, on which the neoclassical approach is based, to be derived. A monopoly does not have a supply curve for the same reason. Except in very limited circumstances like monopolistic competition, the abandoning of price taking makes it extremely difficult to demonstrate an universal equilibrium.
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If a new security issue is marketed to a definite and select group of investors (such as current stockholders, employees or customers) the issue is called:____.
If a new security issue is marketed to a definite and select group of investors (such as current stockholders, employees or customers) the issue is called a privileged subscription.
What is privileged subscription?
An existing shareholder's right to subscribe to fresh stock issuances at or below market pricing allows them to maintain an equal percentage ownership in the company. Employees and investors can purchase shares of business stock over a lengthy period of time through stock subscriptions, typically at a price that excludes broker commissions. The price at which shares are bought signifies a good deal for buyers because there is no commission.
Therefore,
If a new security issue is marketed to a definite and select group of investors (such as current stockholders, employees or customers) the issue is called a privileged subscription.
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The amount of debt, time and method of payment, interest rate and other loan terms are part of the?
The amount of debt, time and method of payment, interest rate and other loan terms are part of the principal. The principal is the sum of money you initially promised to repay. The cost of borrowing the principal is interest. In general, any payment made on a vehicle loan will be used to cover any outstanding fees first (for example, late fees)
Recognizing PrincipalPrincipal is the initial sum of a loan in the context of borrowing; it can also refer to the balance still owed on a loan. The principal of a $50,000 mortgage, for instance, is $50,000. If you pay down $30,000, the remaining $20,000 is the primary balance.
The principal of a loan determines how much interest you pay. The amount of your monthly loan installments is applied to the accrued interest first and only then to the principle when you make a payment.
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An employee may experience role ______ when attempting to balance a heavy workload.
Trying to manage a large workload might cause occupational stress in an employee.
the required detais about workplace stress is mentioned below
What is workplace stress?
Occupational stress is a word that is frequently used in the professional business sector to describe the on-going or escalating stress that an employee goes through as a result of their duties, conditions, surroundings, or other pressures at work.
One documented health risk factor for a variety of psychological, behavioral, and physiological problems and diseases is occupational stress. Through better wellness and proactive stress management, both organizations and individuals can lessen the impact of these conditions. This article discusses three topics: the health risks associated with occupational stress that are known to exist; the use of preventative stress management as a framework for intervention in businesses; and the developing field of boosting wellbeing, which supports the individual.
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The best values management programs also provide either a(n) _______ or a(n) ________ to report any violations.
The best values management programs also provide either a direct contact person or an anonymous hotline to report any violations. It is better to have those two options because reporting something requires that we remain anonymous. We would probably also create a new conflict on top of it.
A violation report is used to describe every allegation of a violation or alleged violation of this Manual, as well as the investigation and subsequent actions. An instance of a violation might be being bullied at work or school. Another illustration is breaking the law by driving your car faster than the posted limit.
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. What do you think that Professor Porter means when he says, "I think many have seen business
as the problem, or at least one of the problems, in many of the social challenges we face"? Do you
agree with this statement? Explain your thoughts.
Professor Michael Porter of the Harvard Business School is here to argue that business can contribute to solving social issues. The TED attendees in the room clearly concur with his opening statement that we are all acutely aware of the problems that exist with regards to climate change, healthcare, and access to clean water.
They all unambiguously concur with his thesis that business is frequently seen as the issue rather than the solution, and a lot of them.
The issue with the issue is as follows. The mechanisms we've created to address social ills, such as NGOs and philanthropies, are well-intentioned and driven, but they aren't built to scale. We're not moving forward quickly enough, which is an uncomfortable reality. Porter declares, "We're not winning. These issues seem extremely difficult and insurmountable. Any answers we do manage to find are modest ones that represent minor steps forward.
The problem is that the existing paradigm doesn't have nearly enough funding to make the required transformation. We have to face this problem squarely. Porter wonders, "How can we generate resources?" His response: through business, which generates wealth by satisfying its own needs and turning a profit.
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In terms of cost principles and cost allowability contract terms may only be _______ restrictive than required by law.
The answer is :- more
In terms of cost principles and cost allowability contract terms may only be more restrictive than required by law.
What are Allowable Costs?What prices are acceptable and what costs are not are subject to extremely specific regulations set forth by the federal government. For instance, some of the costs that a contractor might typically report in terms of home office overhead in accordance with generally accepted accounting principles may not be allowed by the federal government when using the straightforward Eichleay Formula to calculate unabsorbed home office overhead.
According to the terms of the relevant contract in question, Cost Accounting Standards, and the FAR, allowable costs are defined as expenses that are reasonable and assignable to the contract.
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The inputs of managing customer heterogeneity are the 3cs of situation analysis: customers, competitors, and consolidation. True or false
The inputs of managing customer heterogeneity are the 3cs of situation analysis: customers, competitors, and consolidation. The statement is False.
Customer centricity is crucial since it enables businesses to forge stronger bonds with their clientele, which can lead to higher income and sales. As the business concentrates on enhancing customer pleasure, it also aids in reducing operational costs.
In order to generate customer pleasure, loyalty, and advocacy, customer centricity mandates that the customer be at the centre of all choices relating to the delivery of products, services, and experiences. Become more customer-focused to build loyalty.
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1.Based on the call center agent conversation with the caller, what characteristics,attributes,lifestyle,skills,or traits does she possess? explain your answer.
2.what do you think about the way she handled the situation? explain your answer.
3.do you think there could be any better way than the way she did it?why Yes? why no?
Plssssss Godd blesssss youuu
Qualities that make for a successful call center agent are Knowledge retention, Attention to detail, Organization, Flexibility, Friendly, Calm under pressure, Effective communication skills, and Speed.
As a call center representative, you will deal with a wide range of clients, grievances, and circumstances. Some of them are hilarious, while others aren't at all. Call center problems might range from straightforward issues that can be resolved quickly to complex circumstances that may take more time and effort to resolve. As we've already discussed, you'll also encounter a diverse range of clients, personalities, and attitudes.
The capacity for empathy is thus among the most crucial traits of a call center agent. Good brand loyalty can be attained by sales representatives who can establish a strong rapport with customers and give them the impression that someone is paying attention to and understanding their problems.
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The type of computer-based access control that involves a process that uses secret or hidden information in order to retrieve particular data items is:________
The type of computer-based access control that involves a process that uses secret or hidden information in order to retrieve particular data items is Steganography.
What is Steganography?Steganography is a method for obfuscating the presence of secret information by enclosing it in a regular, non-secret file or communication; the information is then extracted from the covert material once it reaches its intended recipient. For an additional layer of data protection or data concealment, steganography can be used in conjunction with encryption.
A hidden message can be concealed via steganography by placing it inside (or even on top of) an otherwise public object. It doesn't matter what it is; it simply needs to be something. These days, putting a hidden text message inside of an image is a common steganographic technique.
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The primary source of federal power to regulate business is the:_______
a. commerce clause.
b. privilege and immunities clause.
c. contract clause.
d. supremacy clause.
The primary source of federal power to regulate business is the: commerce clause
What is commerce clause?
The U.S. Constitution's Article 1, Section 8, Clause 3 is referred to as the Commerce Clause. the authority to "regulate commerce with foreign countries, among the various states, and with India," according to the U.S. Constitution.
Significant and ongoing debate about the distribution of power between the federal government and the states has resulted from Congress's repeated use of the Commerce Clause as justification for exercising legislative authority over state and citizen actions. In the past, the Commerce Clause was seen as both a grant of power to Congress and a limitation on the power of the States to regulate themselves.
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The difficulty with using a panel consensus is that lower-level employees may be intimidated by higher levels of management. true false
The problem with using a panel consensus is that senior management may frighten lower-level employees. This statement is true.
Panel consensus is a qualitative forecasting method that gathers all of an organization's internal specialists for a free-wheeling discussion on a good or service. The meeting will end when a consensus is reached, and anyone may participate. Ex post facto validation of the forecast's accuracy using actual sales data.
Other names for it include expert aggregation, ensemble averaging, model averaging, forecasting averaging, and forecasting averaging. Because only professionals from within the company are involved, this strategy varies from Delphi or market research. A panel consensus procedure can be used on a regular basis for a group of precisely defined variables. The forecast serves as a risk gauge or predictor of "less likely" events.
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Which component of medicare's value based purchasing plan monitors the action of reporting data in the proper format within the given timeframe?
The value-based purchasing strategy for Medicare keeps track of whether data are submitted in the right format and on schedule. Pay for reporting exists
Your company's purchasing plan outlines your purchasing practices. By eliminating inefficiencies, creating approval workflows, and creating a tactical purchase plan to achieve desired goals, it aims to optimize cost reductions while also reducing the bottom line.
What is the strategic purpose of buying?
In the supply chain management process, the purchasing function is strategically essential. It addresses how the delivery end of the suppliers interacts with the sourcing end of supply chain management.
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In an accounting cycle, an analysis of transactions is performed at the end of each accounting period. true /false
It is a False statement, In any accounting cycle, an analysis of transactions is not performed at the end of each accounting period.
What is accounting cycle?
The accounting cycle is a comprehensive procedure that documents a company's transactions from beginning to end, assisting organizations in maintaining efficiency. All of the business's accounts, including T-accounts, credits, debits, journal entries, financial statements, and book closing, are included in the cycle.
Identification of transactions, journal entry recording, posting of transactions, preparation of the unadjusted trial balance, worksheet analysis, correction of worksheet inconsistencies, preparation of the financial statement, and closing the books are the steps in the accounting cycle.
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Corporation and limited liability (limited partnership) company taxed twice.
a. true
b. false
Option[A] is the correct answer.
Corporation and limited liability (limited partnership) company taxed twice.
Before any earnings may be distributed to shareholders, the corporation must pay income tax at the corporate rate. Any gains that are then dispersed as dividends to shareholders are again taxed at the recipient's individual rate. The company profits are thus subject to two separate income tax rates.
What is Double Taxation?When business profits are taxed both at the corporate and personal levels, C corporations are subject to double taxation. Before any earnings may be distributed to shareholders, the corporation must pay income tax at the corporate rate. Any gains that are then dispersed as dividends to shareholders are again taxed at the recipient's individual rate. The company profits are thus subject to two separate income tax rates.
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