The three of the following for a car company could be examples of key results are:
b. Improve the customer satisfaction survey score by 15%.
c. Distribute 98% of the product on time to dealerships.
d. Meet production deadlines 95% of the time.
What is company?
A company is an entity that is legally recognized as a separate entity from its owners and shareholders. It is a business entity that is created to conduct business, earn profits and pay taxes. Companies have legal rights and liabilities separate from their owners, and they can be bought and sold. Companies can be limited or unlimited and can be structured in different forms such as a corporation, partnership, or sole proprietorship. Companies can be publicly traded or privately held. Companies are also responsible for filing legal documents, including articles of incorporation, to be registered and recognized as a legitimate business entity.
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the four primary financial statements published to provide information to external users include which of the following?
The income statements, balance sheets, cash flow statements, and stockholders' equity statements are the four main financial statements that are released to give information to outside consumers.
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.
The balance sheet, income statement, statement of cash flow, and statement of changes in equity are the four basic financial statements for profit entities. A similar but distinct set of financial statements is used by nonprofit organizations.
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The complete question is:
The four financial statements published to provide information to external users include which of the following?
1. Statement of Business Activities
2. Statement of Stockholders' Equity
3. Statement of Assets
4. Income Statement
5. Balance Sheet
6. Statement of Cash Flows
True/False. Physical characteristics of a product are of little importance in determining its potential for differentiation
The physical characteristics of a product are of little importance in determining its potential for differentiation. Thus, the given statement is true.
What are the physical characteristics of a product?An element that characterizes a certain product and influences a consumer's buying choice is known as a product attribute. Product characteristics might be physical (or tangible) or immaterial (or not physical in nature). Product features including size, color, weight, volume, smell, taste, touch, number, or material composition are examples of tangible properties.
For instance, you may take into account observable characteristics like a car's size, color, and material makeup while making a purchase decision. You are looking for a product based on its observable characteristics if you are seeking for a 2-door, red sports automobile with leather inside.
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Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $82,000. b. Direct materials used, $37,500. Indirect materials used, $17,200. c. Direct labor used, $30,000. Indirect labor used, $10,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7125. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $54,400. 9. Sales of jobs on credit was $77,000. h. Cost of jobs sold was $54,400. View transaction list View journal entry worksheet No Transaction Raw materials inventory Accounts payable General Journal Credit 1 a Debit 82,000 82,000 2 b(1) Work in process inventory Raw materials inventory 37,500 37,500 3 b(2) Factory overhead Raw materials inventory 17,200 17.200 4 (1) Work in process inventory Factory overhead Factory wages payable 30,000 10,000 40,000
The raw materials inventory account is debited by $82,000 and the accounts payable account is credited with $82,000.
What is written in a journal entry first?Put in the right date: The first step is to date each journal entry in your journal. This is to make sure that it is uploaded at the appropriate time. Put the account name and number in writing: Always include the G/L account number in addition to the account name when creating a journal entry.
Create the journal entries necessary to document transactions a through h.
Below are the journal entries:
a. Raw materials inventory A/c (Dr.) $82,000
To Accounts payable A/c (Cr.) $82,000
(because raw materials are bought on credit.)
b. Work in progress inventory A/c (Dr.) $37,500
To Raw materials inventory A/c (Cr.) $37,500
(being applied to recorded production)
Factory overhead A/c (Dr.) $17,200
To Raw materials inventory A/c (Cr.) $17,200
(The recorded material is indirect.)
c. Work in progress inventory A/c (Dr.) $30,000
Factory overhead A/c (Dr.) $10,000
To cash A/c (Cr.) $40,000
(Payroll at factories is paid in cash.)
d. Factory overhead A/c (Dr.) $7125
To Cash A/c (Cr.) $7125
(Actual overhead is paid for with cash as well.)
e. Work in progress inventory A/c (Dr.) $47,500
($38,000 × 125%)
To Factory overhead A/c (Cr.) $47,500
(As it is applied overhead, recording)
f. Finished goods inventory A/c (Dr.) $54,400
To Work in progress inventory A/c (Cr.) $54,400
(The transfer of items is noted.)
g. Accounts receivable A/c (Dr.) $77,000
To Sales A/c (Cr.) $77,000
(Jobs are sold with accounts)
h. Cost of goods sold A/c (Dr.) $54,400
To Finished goods inventory A/c (Cr.) $54,400
(As the job cost is documented)
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is a strategic branding premise, which sets the foundational brand essence, express the brand values, and makes the EMOTIONAL connection with the audience.
-has to be the POINT OF ENTRY and foundation for all other specific stories to keep the brand message relevant and engaging.
Core Brand Narrative is a strategic branding premise, which sets the foundational brand essence, express the brand values, and makes the EMOTIONAL connection with the audience.
A brand narrative is a compact, smoothed out story that goes about as the stage for an association's showcasing and interchanges.
A brand story is a not a content for you to rehash word for word, however an informing system for you to decipher and convey, depending on the situation, through your own remarkable focal point. There are two ideas here: The first is that Brandeis is a position of scholarly thoroughness. The second is that on the grounds that Brandeis is more modest than other comparably thorough examination colleges, its way of life includes a sort of connectedness you don't find somewhere else.
That connectedness isn't elusive. It exists in the cross-departmental examination that happens at Brandeis, particularly in technical studies. It exists in the strange blends of majors and courses that understudies regularly attempt here. Furthermore, it exists in the manner in which our understudies uninhibitedly join various clubs and move socially across various gatherings.
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true/false. an advantage of using systems flowcharts to document information about internal control instead of using internal control questionnaires is that systems flowcharts
False. An advantage of using systems flowcharts to document information about internal control instead of using internal control questionnaires is that systems flowcharts
What is the flow chart?One of the advantages of using internal control questionnaires instead of systems flowcharts to document information about internal control is that questionnaires provide a standardized and systematic method for evaluating and documenting internal controls, which makes it easier to identify any potential weaknesses or inefficiencies in the control system.
Additionally, questionnaires can often be completed by the individuals responsible for implementing the controls, providing a more in-depth understanding of the control system. Systems flowcharts, on the other hand, provide a visual representation of a process, but may not provide as much detail about the internal controls in place.
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a relevant cost___will not influence a decision is always an opportunity cost differs between alternatives pertains to the future
A relevant cost pertaining to the future will not influence a decision always an opportunity cost differs between alternatives pertaining to the future.
What is the relevant cost?
In managerial accounting, the term "relevant cost" refers to avoidable expenses that are only incurred in connection with particular business actions. The idea of relevant cost is utilised to cut out extraneous information that can make decisions more difficult. Consider the decision of whether to sell or keep a company unit using relevant costs as an example. A sunk cost is the antithesis of a relevant cost; it has already been paid for regardless of how the current choice turns out.
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fill in the blank. salaries already paid to employees for the month is a(n) ___account that appears on the ___.
A current liability is the sum that a company owes a creditor for goods or services obtained via an open account.
What will the financial statement for accounts payable look like?
Accounts payable obligations are recorded under "current liabilities" on a company's balance sheet since they are a liability.
A credit is due as a result of...
Accounts payable are first and foremost considered obligations. Because you frequently pay on credit when buying goods or services from suppliers and merchants, these accounts have earned their name. Your AP account will display any current liabilities as a credit balance because it's possible that you owe money to these creditors.
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a firm has an expected roe of 15%. if it pays out 30% of it earnings as dividends, its dividend growth rate will be . multiple choice question. .105 .15 .125 .45
15% ROE is anticipated for a company. Its dividend growth rate will be 10.5% if it distributes 30% of its earnings as dividends.
How quickly are dividends increasing?The dividend growth rate, or DGR, is the rate of dividend increase in percentage over a given period of time for a particular corporation. In many cases, the DGR is calculated once a year. The calculation can, however, also be done on a quarterly or monthly basis if necessary.
Where does ROE come from?In order to calculate ROE, analysts only divide the company's net income by the typical level of shareholders' equity. The difference between assets and liabilities, or shareholders' equity, can be viewed as a measurement of the return generated on the company's net assets.
b = 1 - 0.3 = .7
g = b × ROE = 0.7 × 15% = 10.5%
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business rules: define how bank account works and what data need 2. metadata: define what attributes (data) represent an object (i.e. account type) and data properties (data types, valid range of values, required vs. optional, etc.) 3. entities (objects): account owner, dependent (joint family), checking account, savings account, money market account, loan account, or other banking objects, online account, etc. (suggestion: define at least 10 entities) 4. relationships: customer deposit or withdraw money with account, and more. 5. identify the possible entity sets and their attributes, the relationships among the attributes. your eer model must include supertype and subtypes inheritance associations based on your initial er model. relationship constraints and completeness rules (discussed in the eer module) must be included. g
To create a bank account, you typically need to provide the following information:
Full nameDate of birthSocial Security NumberPhysical addressPhone number etc.How do our bank account work?A bank account is a financial tool that allows an individual to store and manage their money in a secure manner. To open a bank account, an individual typically needs to provide personal information such as their name, address, date of birth, and government-issued identification number.
Once the account is opened, the individual can deposit money, withdraw money, and make payments. The bank tracks the transactions made in the account and provides statements to the account holder, showing their current balance and recent transactions.
2. What are the properties of metadata for bank account?Metadata is information that describes the characteristics of an object. In the context of a bank account, the object is the account itself, and the metadata would include information such as:
Account type: checking, savings, or other types of accountsAccount number: a unique identifier assigned by the bank to the accountAccount holder's name: the name of the individual or entity that owns the accountAccount balance: the current amount of money in the accounData properties of account type: string data type, required fieldData properties of account number: numerical data type, unique identifier, required field etc.Read more about bank account
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for a manufacturing company, which of the following is an example of a period cost rather than a product cost? multiple choice wages of salespersons. salaries of machine operators. insurance on factory equipment. depreciation of factory equipment.
The correct choice is wages of salespersons.
Costs associated with producing a thing are referred to as product costs. Overhead, direct labour, and direct materials are a few examples of product expenses.
Expenses that are incurred over a period of time but have no bearing on the production of goods are referred to as period costs. Period expenditures include commissions from sales and administrative work.
While the wages of salespeople will be spent whether or not manufacturing occurs, all other costs can be allocated to the product to a particular percentage.
The total cost of all resources used to produce a product is known as the manufacturing cost. Direct costs for materials, direct labour, and manufacturing overhead are the three subcategories of manufacturing costs. It affects the overall cost of delivery.
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FILL THE BLANK One suggestion for helping poor countries enjoy the benefits of free trade is for richer nations to reduce barriers to importing products from those nations particularly for textiles and ________ products.
One suggestion for helping poor countries enjoy the benefits of free trade is for richer nations to reduce barriers to importing products from those nations particularly for textiles and agricultural products.
What is the principal advantage of free commerce between two nations?Non-tariff obstacles that might otherwise obstruct the flow of products and services can also be addressed by free trade agreements. They also promote investment and help to enhance the regulations governing things like intellectual property, e-commerce, and government procurement.
The two obstacles to free commerce are what?A tariff, or import tax, is the most frequent type of trade barrier. Imported items cost much more domestically finished goods due to tariffs (good produced at home). A government subsidizing to one domestic companies over another is a conventional trade barrier. Producing those things has become more affordable than selling them outside thanks to subsidies.
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TRUE/FALSE. people who combine natural resources, labor, and capital in a profitable venture are called entrepreneurs.
People who combine natural resources, labor, and capital in a profitable venture are called entrepreneurs. This statement is true.
What is an entrepreneur?
Someone who launches a business on their own is called an entrepreneur. Entrepreneurship The most crucial aspect of management, particularly for those eager individuals with a start-up idea, is management. Entrepreneurs are those who start new businesses, invent things, and take chances to succeed. They come from many communities, industries, and nations, but they have some things in common, including vision, passion, and tenacity. They motivate people to follow their interests, chase their aspirations, and alter the course of the world. The concept of small business entrepreneurship is to start a company without growing it into a massive conglomerate or launching numerous chains.
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which of the following is a task that data administration would be responsible for? more than one answer may apply.
The data administration would be responsible for deciding that once the organization's mobile app's new generation software is released, it would start gathering and storing users' whereabouts.
Also, data administration would be responsible for defining rules that prohibit sharing data with anyone who is not a fellow worker of the company.
Deciding that in order to access data that the organisation has deemed to be secret, two-factor identification is required.
What is data administration?
Data administration refers to the procedure used by a data administrator and/or an organisation to monitor, maintain, and manage data. An organisation can manage its data assets through data administration, including how they are processed and interact with other applications and business processes. The goal of the enterprise is met throughout the whole life cycle of data use and processing thanks to data management.
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a. From the trial balance and other information given, prepare annual
adjusting entries as of December 31, 2022.
b. Prepare the worksheet
c. Prepare an income statement for 2022, a statement of owner’s equity,
and a classified statement of financial position.
d. Maintain the necessary closing entry.
4) Mr. Arian opened Arian’s Carpet Cleaners on March 1, 2021. During March, the
following transactions were completed.
Mar. 1: Invested Br. 35,000 cash in a share of a business.
Mar. 1: Purchased used Truck (equipment) for Br. 6,000, paying Br. 2,000 cash
and the remaining balance on account.
Mar. 3: Purchased cleaning supplies for Br. 1,500 on account.
Mar. 5: Paid Br. 1,200 cash on one-year insurance policy effective March
Mar. 14: Billed customers Br. 4,800 for cleaning services.
Mar. 18: Paid Br. 1.500 cash on amount owed on Truck and Br. 500 on amount
owed on cleaning supplies.
Mar. 20: Paid Br. 7,000 cash for employee salaries.
Mar. 21: Collected Br. 3,800 cash from customers billed on
Mar. 28: Billed customers Br. 2,500 for cleaning services.
Mar. 31: Paid advertising expenses of Br. 2000.
Mar. 31: paid a dividend of Br. 3000.
Requirements:
1) Journalize the March transactions.
2) Prepare necessary Ledger Accounts.
3) Prepare a Trial Balance at March 31
4) Journalize the following adjustments and prepare an adjusted Trial
Balance:
i. Earned but unbilled revenue at March 31 was Br. 1000.
ii. Depreciation on equipment for the month was Br. 200.
iii. One-twelfth of the insurance expired.
iv. An inventory count shows Br. 400 of cleaning supplies on hand
v. Accrued but unpaid employee salaries were Br. 700.
5) Prepare the worksheet
6) Prepare an income statement, a statement of owner’s equity, and a
statement of financial position.
7) Maintain the necessary closing entry
Based on the given info, here is a guideline to help you create your worksheet.
Journalizing the March transactions:Debit Credit
Mar 1: Cash 35,000 Capital
Mar 1: Equipment 6,000 Cash 2,000
Accounts Payable 4,000
Mar 3: Accounts Payable 1,500 Cleaning Supplies
Mar 5: Cash 1,200 Insurance Expense
Mar 14: Accounts Receivable 4,800 Service Revenue
Mar 18: Accounts Payable 2,000 Cash 1,500
Cash 500
Mar 20: Cash 7,000 Salary Expense
Mar 21: Cash 3,800 Accounts Receivable
Mar 28: Accounts Receivable 2,500 Service Revenue
Mar 31: Cash 2,000 Advertising Expense
Mar 31: Capital 3,000 Dividends
Ledger Accounts:
Capital:
Mar 1: 35,000
Mar 31: 3,000
Cash:
Mar 1: 2,000
Mar 5: 1,200
Mar 18: 1,500
Mar 20: 7,000
Mar 21: 3,800
Mar 31: 2,000
Accounts Payable:
Mar 1: 4,000
Mar 3: 1,500
Mar 18: 2,000
Equipment:
Mar 1: 6,000
Cleaning Supplies:
Mar 3: 1,500
Accounts Receivable:
Mar 14: 4,800
Mar 21: 3,800
Mar 28: 2,500
Insurance Expense:
Mar 5: 1,200
Salary Expense:
Mar 20: 7,000
Service Revenue:
Mar 14: 4,800
Mar 28: 2,500
Advertising Expense:
Mar 31: 2,000
Dividends:
Mar 31: 3,000
Trial Balance at March 31:
Debit Credit
Cash 16,500 16,500
Accounts Payable 6,500 6,500
Equipment 6,000 6,000
Cleaning Supplies 1,500 1,500
Accounts Receivable 11,300 11,300
Capital 38,000 38,000
Insurance Expense 1,200 1,200
Salary Expense 7,000 7,000
Service Revenue 7,300 7,300
Advertising Expense 2,000 2,000
Dividends 3,000 3,000
Total 82,000 82,000
Journalizing the adjustments:
Debit Credit
Mar 31: Service Revenue 1,000 Unearned Service Revenue
Mar 31: Depreciation Expense 200 Accumulated Depreciation
Mar 31: Insurance
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the difference between the nominal rate quoted on a security and the rate quoted on a treasury security with similar characteristics is called the
The difference between the nominal rate quoted on a security and the rate quoted on a treasury security with similar characteristics is called the maturity premium.
What distinguishes the nominal rate from the effective rate?The term "nominal rate" describes the annual interest that would be earned if you took a monthly interest withdrawal from the account. If the interest is added to the account balance each month, the annual "effective" rate represents the total amount paid over the course of the year.
The nominal interest rate and the effective interest rate are the two variations of an interest rate. The compounding period is not taken into account by the nominal interest rate. The effective interest rate, which accounts for the compounding time, provides a more accurate representation of interest payments.
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Market Economy
What?
How?
For Whom?
Customers are free to decide what they want to buy. Businesses are allowed the flexibility to decide how best to operate.
What does "market economy" mean?
In a market economy, decisions about investment, production, and distribution to consumers are influenced by the price signals produced by the forces of supply and demand. All suppliers and consumers are not constrained by price controls or restrictions on the freedom of contracts in this type of economic system.
Commonly referred to as a "market economy," a "free market economy" is one in which prices are determined by the free market and goods are purchased and sold with the least degree of outside government intervention. Market economies are the cornerstone of the capitalist system.
The guiding concept of the market economy states that companies should produce and sell goods and services at the greatest price that consumers are willing to pay. A natural economic equilibrium occurs if supply and demand are equal.
As a result, consumers are free to decide what to buy. Businesses are allowed the flexibility to decide how best to operate.
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FILL IN THE BLANK in an eastern european country, most people eat dinner after 10:00 p.m. this would be identified in the _____blank section of a global market research report.
In East European Country, most people eat dinner after 10:00 p.m. this would be identified in the "Cultural, societal" section of a global market research report.
What is global market research?Global market research would be an umbrella phrase for the collecting and analysis of data that businesses conduct in countries outside than their home market.
Some key features regarding the global market research are-
This involves anything from consumer understanding to product design research, and includes creating the study, doing the fieldwork, analyzing the data, and reporting the results.It varies from domestic market research in that a knowledge of cultural variations is critical to its successful implementation.Global market research will serve several key functions. It assists businesses in understanding their current or prospective clients in international marketplaces.Such markets — as well as the people who inhabit them — are frequently markedly different from your home market in a variety of ways.Failure to appreciate the many subtle characteristics between different worldwide markets and have a great understanding of them prior to launching a product can be a costly mistake.To know more about the global market research, here
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- regression makes the sum of the squared prediction errors as small as possible. (enter your answer as two words with a space in between. do not use a comma or a dash in your answer.)
Least Squares regression makes the sum of the squared prediction errors as small as possible.
What does the square root of the regression mean?
The variance in the dependent variable that the regression equation "explains" is measured by the regression sum of squares. a way to gauge a regression analysis's capacity for an explanation. determines the percentage of the dependent variable's variation that can be described by the variance in the explanatory variables (s).
The total of the square prediction errors is reduced as much as possible with least squares regression. An equation with particular parameters describes this procedure.
Therefore, Finding a regression or the finest line for the given sequence requires the use of the least-squares statistical method, which is fundamental.
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imagine you are a consultant who has been asked to summarize the strengths and weaknesses of directavia, a nation with a pure command economy. which of the following would you include in your report as weaknesses of directavia's economy? check all that apply.
c) The economy experiences persistent shortages and surpluses and d) many goods are available only through a black market would be included in your report as weaknesses of Directavia's economy.
A command economy is one in which the means of production are controlled by a centralized government. When compared to a free-market economy, in which supply and demand determine output and pricing, this offers both advantages and downsides.
Command economies have historically been linked with socialist/communist countries, whereas free-market economies have typically been associated with capitalism and democratic countries.
In truth, no economy is completely free market or completely governed by the government. Instead, economies operate on a continuum, with certain characteristics favoring one type over another.
For example, in Europe, some important industries may be government-owned and run, whereas in China, the communist government has permitted the proliferation of special free-trade zones and cities.
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Correct question:
Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Directavia, a nation with a pure command economy. Which of the following would you include in your report as weaknesses of Directavia's economy? Check all that apply.
a) The economy cannot quickly change the type of goods being produced to meet new priorities.
b) The price-setting mechanism is particularly vulnerable to the mispricing of goods for which there are externalities.
c) the economy experiences persistent shortages and surpluses.
d) Many goods are available only through a black market.
The _____ of any country is measured by the output of goods and services people can buy with the money they have. all workers in business.
The standard of living of any country is measured by the output of goods and services people can buy with the money they have all workers in the business.
What is the standard of living?
The availability of both quantity and quality material goods and services to a certain community is referred to as the standard of living. Typically, gross domestic product (GDP) per capita is used to measure it. Both the standard of living and the quality of life draws on some of the same facts, although the former emphasises the more tangible aspects of life while the latter emphasises the more ethereal ones. The Human Development Index (HDI), which takes into account a variety of variables including life expectancy, education, gross national income (GNI), and homicide rates, is an alternative data set on the standard of living.
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given the accounts below, choose all of the ones that affect equity. (check all answers that apply.) multiple select question. revenues cash accounts payable notes payable dividends common stock expenses
Dividends, common stock, expenses, and income are the accounts that have an impact on equity.
The following details ought to apply to the equity:
An rise in revenue results in an increase in equity.
If the common stock rises, the equity will rise along with it.
If the expenditure rises, the equity will decline.
The equity will decline if the dividend is paid.
Revenue, Account Payable, Common Stock, and Unearned Revenue are the accounts that hold the typical credit balance.
Therefore, it follows that revenue, account payable, common stock, and unearned revenue are the accounts that hold the typical credit balance.
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quiz 2 - john pablo works in the accounting department of a multinational manufacturing company. his job includes updating accounts payable based on purchase orders and checks. his responsibilities are part of the company's
John Pablo works in the accounting division of a large industrial organisation. His duties include updating the accounts payable department using checks and purchase orders. His duties fall under the company's revenue cycle.
The process of offering goods and services and collecting money from clients as payment for the same sales is referred as the revenue cycle. Related information processing procedures are also part of this cycle. Other accounting cycles receive information regarding revenue cycle activities as well. Information generated by the revenue cycle is used by the general ledger and reporting operations to create financial statements and financial reports. The main goal of the revenue cycle is to deliver the appropriate product at the right time and location for the right price. The management needs to decide on a few things in order to achieve this goal. Four fundamental revenue cycle operations are as follows:
1. Entry of sales orders
2.Shipping
3. Payment
4. Collections of cash
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which of the following would provide coverage for the physical damage of a ship while it is being transported by truck over land?
(Option D) Inland Marine Insurance, would provide coverage for the physical damage to a ship while it is being transported by truck
Inland Marine Insurance is a type of insurance that provides coverage for the physical damage of a ship while it is being transported by truck over land. This type of insurance is designed to protect against the risk of loss, damage, or theft of items that are transported over inland waterways or on land. Examples of items that may be covered by Inland Marine Insurance include boats, heavy equipment, and other valuable items.
Inland Marine Insurance is different from Marine Hull Insurance, which typically covers losses that occur at sea. It is also different from Cargo Insurance, which covers losses that occur during shipping by air, sea or land.
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true/false. the financial meltdown of 2008 was in part due to , demonstrating the dangers of relying too heavily on the quantitative techniques of scientific management.
False. The financial crisis of 2008 was not primarily due to the reliance on quantitative techniques of scientific management.
What was the cause of the financial crisis of 2008?It was primarily caused by a combination of factors such as the widespread distribution of risky mortgage-backed securities, high levels of debt, lax regulations, and an overall housing market bubble.
The financial crisis of 2008 was caused by a combination of factors such as the widespread distribution of risky mortgage-backed securities, high levels of debt, lax regulations, and an overall housing market bubble. The crisis was exacerbated by the failure of financial institutions and the subsequent decline in confidence in the financial system, leading to a global economic recession.
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Managerial accounting is most concerned with meeting the needs of internal users.True or False
Above statement is correct. Since the intended aim of managerial accounting is to support internal users within the organization in making informed business choices, it varies from financial accounting.
What is managerial accounting concerned with?Identifying, measuring, analyzing, and interpreting accounting data so that managers can utilize it to make wise operational decisions is the focus of managerial accounting, which is often referred to as cost accounting or management accounting.
What is the use of management accounting?Helping managers make decisions is the goal of management accounting. Through the use of financial predictions, management accounting enables businesses to better manage costs and make long-term plans. In order to provide thorough managerial control, it also emphasises reporting.
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for each of the following (1) identify the account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) select debit or credit to identify the kind of entry that would increase the account balance.
Asset Accounts include items like land, cash, prepaid insurance, receivables, and equipment, and their typical balances are debits. Accordingly, a rise in the asset account would result in a debt, and vice versa.
The expenditure account for legal expenses is a debit one, therefore any growth in the account would result in a debit, and vice versa.
The revenues earned, which in this case comprise license fee revenue and fees earned, are credit-type revenues, meaning that an increase in them will be credited and vice versa.
The dividends are a drawing account, which implies that any rise would result in a debit, and vice versa.
The rise in common stock would be credited and vice versa since it is an equity account with a credit character.
Notes The liability account for payable and unearned income is one that is credit in nature, so that a rise in liability would result in a credit.
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logistics trucking company operates a fleet of fuel trucks when one of the trucks is positioned to receive a load of biofuel it accidentally strikes a storage tank owned by metro biofuel
Correct option is B, For the cost of repairing the damage to the tank, Metro is most likely to be awarded : Compensatory damages
What are restitution damages?Compensation for loss, injury, or other damages is referred to as compensating damage. Compensation for losses brought on by the negligence or illegal behavior of one party is awarded in civil court cases.
the amount of money that a court must provide one party in compensation for something lost or damaged: The plaintiff is asking for $20 million in compensatory damages.
Pain and suffering, medical expenses, and lost pay are the three categories for which plaintiffs commonly obtain compensation. Compensation for pain and suffering is frequently a significant component of any personal injury jury verdict.
Actual damages, commonly referred to as compensatory damages, are financial compensation granted by a court to make up for a party's loss. A court may alternatively award minimal damages if a party's right was formally violated but they did not experience any hurt or losses. During the case of Birdsall v.
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Completed question :
Logistics Trucking Company operates a fleet of fuel trucks. When one of the trucks is positioned to receive a load of biofuel, it strikes a storage tank owned by Metro Biofuel, Inc. For the cost of repairing the damage to the tank, Metro is most likely to be awarded
a. punitive damages.
b. compensatory damages.
c. contingency fees.
d. none of the choices.
which of the following is a monetary policy used to counter the effect on employment of a negative supply shock in the short run?
B: "Buying government bonds in the open market" is a monetary policy used to counter the effect on employment of a 'negative supply shock' in the short run.
Monetary policy refers to the actions taken by a central bank to influence the money supply and interest rates in an economy. When there is a negative supply shock, such as a sudden decrease in the availability of a key resource, it can lead to a contraction in economic activity and higher unemployment.
To counter this effect in the short run, a central bank can use monetary policy to inject more money into the economy. One way to do this is through open market operations, such as buying government bonds. This increases the money supply, which can lower interest rates and stimulate economic activity, helping to reduce the negative impact of the supply shock on employment.
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Complete question
which of the following is a monetary policy used to counter the effect on employment of a negative supply shock in the short run?
A: Increasing government spending
B: Buying government bonds in the open market
C: Increasing the required reserved ratio
D: Targeting a higher federal funds rate
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listed below are several statements that relate to financial accounting and reporting. identify the accounting concept that applies to each statement.
Periodicity assumption, Economic entity assumption, Revenue recognition, and Expense recognition are the accounting concepts that apply to each statement.
What are accounting concepts?
There are a number of laws in India that must be adhered to when walking or driving on the road in order to ensure a smooth flow of traffic. Similarly to this, an accountant must abide by certain accounting principles when documenting business transactions or keeping track of accounts. You may think of them as accounting ideas. As a result, it is possible to state that "accounting ideas" refers to fundamental guidelines, presumptions, and principles that serve as the foundational guideline for documenting business activities and keeping accurate books of accounts.
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(100 POINTS!!!) LuAnn is a very specific type of photographer. The images that she captures have several prominent characteristics such as representing culture as it is lived rather than mythologized, respectful portraits of members of the community to show their stature, and documenting tribal customs and ceremonies for future generations. What type of photography does LuAnn most likely practice?
A. fashion photography
B. nature photography
C. sports photography
D. indigenous photography
LuAnn most likely practices indigenous photography. Indigenous photography refers to photographs taken by and for indigenous communities that depict the culture, customs, and traditions of those communities. The characteristics of the images LuAnn captures, such as representing culture as it is lived, respectful portraits, and documenting tribal customs and ceremonies, are typical of indigenous photography. The goal of this type of photography is often to give voice and visibility to indigenous communities, as well as to preserve their cultural heritage for future generations.