2,902,900 seconds or 806.3611111111 hours or 33.5983796296 days
The company neglected to record depreciation in the previous year. how should this be treated in the financial statements?
Option B is the correct answer.
Depreciation expense is left out of the financial accounts, and this has two consequences. Assets are inflated when a corporation fails to report depreciation on fixed assets because depreciation is not subtracted. Additionally, because depreciation is not included in the income statement, net income rises, which causes the shareholder's equity to be overstated. The asset that is depreciated and the depreciation expenditure are two expenses that are subtracted from the income statement. It is a lien against the asset. Depreciation expense resulted in a decline in both net income as well as the related asset.
The question is incomplete, complete question is:
Z Company's accountant forgot to make an adjustment at the end of the year to record depreciation expense on the equipment. What effect did this omission have on the company's financial statements?
a. understated assets and liabilities
b. overstated assets and shareholders' equity
c. understated liabilities and overstated shareholders' equity
d. overstated assets and understated shareholders' equity
e. none of the above
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Javier owns 300 shares of stock in one company. on tuesday, the stock price dropped $12 per share. what was the total effect on javier's portfolio?
The total effect on Javier's portfolio is a decline in value by $3600.
What is the effect of the stock decline?A stock grants the holder of the stock ownership rights in a public company. Stockholders are usually entitled to dividends when paid. The dividends received is proportional to the amount of stocks held.
Increase in value of stocks and dividend payment increase in the value of the stock portfolio. Decline in stock value reduces the value of the stock portfolio.
Decline in value of the portfolio = number of shares in the portfolio x price decline
$12 x 300 = $3,600
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Suppose a plague changes the production capacity in a country. how would you represent this situation with a production possibilities frontier?
A plague would lead the production possibilities frontier to shift inward.
What is the production possibilities frontier?The production possibilities frontier is a curve that shows the various combinations of two goods that a country can produce when its resources are fully utilized.
Production that takes place on the production possibilities frontier is said to be efficient. The plague would reduce the production capacity of the country, thus production would not take place on the production possibilities frontier. As a result, this would lead to a shift inward of the production possibilities frontier.
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The smaller the current ratio, the higher the firm's ability to repay its current debts.
a. true
b. false
Answer:
false
Explanation:
the smaller the current ratio the lesser the amount of assets are compared to liabilities
Suppose that the extra cost to tim of a third glass of soda is zero because he's at a restaurant that gives free refills. according to the cost-benefit principle tim should?
Drink a third glass of soda if the extra benefit of doing so is positive.
What is Cost benefit Principle?According to the cost-benefit principle or cost-benefit relationship, the expense of including financial information in financial statements must not outweigh the value of that information to users. Financial information is not free, in other terms. Companies invest millions of dollars annually in collecting and organizing financial data to put together financial statements.
Investors and creditors would prefer to have as much information as they can about a company. Unfortunately, the cost of this degree of openness would be prohibitive for the business. Some financial data, such as the amount of money Apple spends allowing visitors to tour its headquarters, is not particularly useful to external consumers.
The cost-benefit principle is a common sense guideline, essentially. Does gathering this financial data to include it in financial statements make sense, the management may inquire. Is the benefit to the users greater than the cost of acquiring this information? In essence, are users' needs strong enough to justify the cost of obtaining this information? If the answer is affirmative, the business may decide not to include the information in the financial statements.
Thus, Option A) Drinking a third glass of soda if the extra benefit of doing so is positive, is the correct answer.
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Complete question:
Suppose that the extra cost to Tim of the third glass of soda is zero because he's at a restaurant that gives free refills. According to the Cost-Benefit Principle Tim should:
A. drink a third glass of soda if the extra benefit of doing so is positive.
B. drink a third glass of soda.
C. drink a third glass of soda if his total benefit from drinking soda is positive.
D. not drink a third glass of soda.
Which are 3 common misconceptions users of an income statement may have?
The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.
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Regardless of quantity in long-run equilibrium, the industry price cannot exceed the?
An extremely large number of vendors, each of whom makes a comparable or same product, make up a competitive market.
The total of all these unique outputs, which each provider produces as a small portion of the market as a whole, represents the production of that industry.
A market that has just one supplier is considered a monopolist at the other extreme. Examples include the fact that the National Hockey League is the only provider of top-notch professional hockey matches in North America, Hydro Quebec is the province of Quebec's sole electricity supplier, and Via Rail is the only provider of passenger rail services between Windsor, Ontario, and the city of Quebec.
Equilibrium: What Is It?
When market supply and demand are in balance, prices become steady. This is known as equilibrium. In general, a surplus of goods or services leads to lower prices, which increases demand, whereas a shortfall or under supply raises prices, which decreases demand.
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Mack and amy are making regular contributions of $200 a month from their salaries to a money market savings account. these transactions will:________
Mack and amy are making regular contributions of $200 a month from their salaries to a money market savings account. these transactions will be income and expense.
From their monthly salary, Mack and Amy consistently deposit $200 into a money market savings account. Both the net worth on their balance sheet and the surplus on their income and expense statement will fall as a result of these transactions.
It spans a certain amount of time, typically a month or a year. There are three sections in the statement: income, costs, and surplus (or deficit). It spans a certain amount of time, typically a month or a year. The cash inflows and outflows for a specific time period are displayed in the statement of cashflows. The cash used for or provided by the operating, investing, and financing operations is shown on the statement of cashflows.
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Each year there is a ceiling for the amount that is subject to all of the following except:_____.
a. federal income tax
b. social security tax
c. federal unemployment tax
d. state unemployment tax
Except for federal income tax, there is an annual cap on the amount that is subject to social security tax, federal unemployment tax, and state unemployment tax. Thus, the correct answer to the question is letter A. Federal Income Tax.
The amount of federal income taxes withheld from an employee's gross pay must be recorded as a liability even though they are required to be withheld from employee wages.
Actually, a worker's take-home pay is unaffected by unemployment taxes, whether they are federal or state. On the other hand, the amount of social security tax is capped annually.
The number of exemptions, filing status, and gross income are all taken into account when determining how much federal income tax will be withheld from a person's pay.
Additionally, to figure out how much federal income tax should be taken from an employee's salary, the usual wage bracket and the standard withholding table must be used.
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To appoint an insurance producer as its agent, an appointing insurer must file a notice of appointment with the commissioner within?
To appoint an insurance producer as its agent, an appointing insurer must file a notice of appointment with the commissioner within fifteen (15) days after the signing of the agency agreement or the date the initial insurance application is made.
Who is an Insurance producer?A person who is licensed to sell insurance in a specific state or province is known as an insurance producer, and they are in charge of marketing insurance goods on behalf of insurance providers. They must therefore be quite knowledgeable in the specific insurance subfield in which they work.An agent might be an expert in commercial farm insurance or personal auto insurance, for instance.Frequently, insurance producers work for insurance companies as independent contractors (with the exception of captive agents). Instead, they sell insurance for many insurers and are paid on commission. The producer's contract with the insurance company determines the commission arrangement, which also could be influenced by the kind of insurance they are selling.Learn more about insurance producer here:
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Financial analysts like to use the standard deviation as a measure of risk for a stock. the greater the deviation in a stock price over time, the more risky it is to invest in the stock. however, the average prices of some stocks are considerably higher than the average price of others, allowing for the potential of a greater standard deviation of price. for example, a standard deviation of $5.00 on a $10.00 stock is considerably different from a $5.00 standard deviation on a $40.00 stock. in this situation, a coefficient of variation might provide insight into risk. suppose stock x costs an average of $32.00 per share and showed a standard deviation of $3.15 for the past 60 days. suppose stock y costs an average of $83.00 per share and showed a standard deviation of $5.60 for the past 60 days. use the coefficient of variation to determine the variability for each stock.
The coefficient of variation of stock x is 9.84
The coefficient of variation of stock y is 6.22
What is coefficient of variation?
The coefficient of variation is a term used in statistics to show the spread of data points. The coefficient of variation shows the relationship between data points in terms of the dispersion or spread of the data. This relationship is of good help to investors while making decisions,
How to determine the variability of each stockcoefficient of variation of stock x is gotten by
( standard deviation of x / average of x ) * 100 / 1
= 3.15 / 32 * 100 / 1
= 0.0984 * 100
= 9.84
coefficient of variation of stock y is gotten by
( standard deviation of y / average of y ) * 100 / 1
= 5.16 / 83 * 100 / 1
= 0.0622 * 100
= 6.22
The coefficient of stock x is more than the coefficient of stock y. Therefore stock x has more variability than stock y
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Project management systems need to balance the organizational structure and that of the project group with respect to ___.
Systems for project management must maintain a balance between the organizational structure and the project group's in terms of authority.
What is authority?
In sociology and political science, authority is the rightful control that one individual or group has over others. In a civil state, power is exercised through the judicial or executive branches of government, for example. The terms "authority" and "power" are misused when referring to government
The legal ability to issue a command, order, or instruction and compel a subordinate to perform an action is known as authority. The result of authority, on the other hand, is responsibility. It entails the duty of the subordinate, who was given the responsibility by his higher.
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What benefits do children experience in projects that are not necessarily available in other approaches?
The first step toward lifelong learning is for children to become more independent and take on more responsibility for their education through project-based learning. They develop a passion of learning by being enticed to be enthusiastic about learning more, which keeps them engaged in looking for new knowledge and abilities.
What are children experience in projects?It's interesting to observe how project-based learning, long exclusive to middle and secondary school curriculum, is now evolving into a favored mode of instruction for young children. Early education places a high priority on learning by doing, and projects, especially those that require collaboration, offer countless opportunities for kids to grow and acquire a variety of abilities.
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People who experience FOMO (Fear of Missing Out) may...
A) Go into debt to keep up with everyone else
B) Donate money to a cause they care about
C) Create and stick to a monthly budget
D)Save a percentage of their paycheck each month
Scientific knowledge and techniques mainly borrowed from the industrialized west are primarily associated with the modernization subprocess of?
Scientific knowledge and techniques mainly borrowed from the industrialized west are primarily associated with the modernization subprocess, big man.
A generalized collection of laws and hypotheses developed using the scientific method and intended to explain a phenomenon or behavior of interest is referred to as scientific knowledge. Theories are methodical explanations of the underlying phenomenon or behavior, whereas laws are recognized patterns of occurrences or behaviors.
The simple element is that scientific knowledge is just "what you know." For example, you might comprehend how and why the water cycle functions, how a soundwave's height determines how loud it is, and how plants use sunlight to produce their food.
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If lucinda has only $60 to spend and the price of kewpie dolls and the price of beanie babies are both $12, how many of each will lucinda buy if she is rational?
If she is rational, Lucinda will buy 5 of each artefacts which costs $12 each. See explanation below.
Who is a rational consumer?A rational consumer is an economic parlance that assumes that while making a decision, customers would always prioritize maximizing their own advantages.
When making a selection, rational consumers choose the alternative that will provide them with the maximum utility and satisfaction.
Hence, as a rational consumer, Lucinda will spend $60 to purchase 5 of each product.
Given that both dolls are $12, to max out or achieve maximum satisfaction, the entire $60 must be expended to the full.
Hence,
$60/ 12
Maximum Utility Spend = 5 of each product.
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True or false: the nominal interest rate can be defined as an interest rate quoted today by a financial institution on a loan or investment, such as an apr or a periodic rate.
The statement that the nominal interest rate can be defined as an interest rate quoted today by a financial institution on a loan or investment is TRUE.
What is the nominal rate?The nominal interest rate refers to the interest rate that a financial institution quotes in the current period. It is this rate that is tied to a loan or investment.
Nominal interest rates are not adjusted for inflation which is why they are considered "nominal." When they are adjusted for inflation, they become "real" interest rates.
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Which department is most likely to conflict with public relations over responding immediately to media requests for information during crises?
Marketing department is most likely to conflict with public relations over responding immediately to media requests for information during crises.
It acts as the public face of your firm by organising and creating the materials that reflect it. Reaching out to potential clients, consumers, investors, and/or the general public is the responsibility of the marketing department, which must also develop a unified brand image that favourably portrays your business.
Understanding your market and rivals, establishing your company's market positioning, pricing, and services, promoting the company to your target audience, and outlining how they might profit from collaborating with you are all steps in the marketing process.
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The practice of selling a product in foreign countries for a lower price than the good is sold for in the producing country is called?
The practice of selling a product in foreign countries for a lower price than the good is sold for in the producing country is called dumping
This is further explained below.
What is the product?Generally, The thing that is being put up for sale is referred to as the product.
A product could refer to either an item or a service. It may take the shape of anything tangible, virtual, or cyber.
Every item has a price tag attached to it since it must be paid for during production.
The price that may be asked for anything is contingent on a number of factors, including the market, the quality, the marketing, and the demographic that is being targeted.
In conclusion, The act of selling a product in other nations at a price that is lower than the price at which the item is offered in the country that produces the good is referred to as dumping.
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When preparing a journal entry for a transaction that affects retained earnings, the retained earnings account should be debited or credited directly rather than debiting or crediting the account which will ultimately cause retained earnings to change. True or false?.
The given statement of journal entry is False.
What is Journal Entry?
Journal entries in an accounting book serve as a record of financial activities for an organisation. A correctly documented journal entry includes a specific date, the sums to be charged and credited, a description of the transaction, and a unique reference number. A company's financial transactions are listed in a journal together with the accounts they have an impact on. Because most organisations employ a double-entry accounting system, every financial transaction has an impact on at least two accounts; one account is debited, while the other is credited. This shows that a journal entry has an equal number of debit and credit entries.
To Prepare a Journal Entry First, carefully read and understand the transaction. Before making a journal entry, determine which accounts need to be credited and debited. After recording the transaction in the journal, write down the narrative (summary description) for both the debit and credit transactions. The purchase of equipment by a country, where the cash account will be credited and the equipment account debited, is an example of a journal entry.
Hence, the given statement is false.
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How many chargers must be produced and sold if you wish to make a profit of $45389? round up to the nearest whole number?
According to the Question,
Cost function equals 50500+2.48x
(fixed cost + variable cost).
Income function = 14.65xRevenue function minus cost function equals profit.
Profit function equals (50500 + 2.48x) / 14.65.Profit function equals
14.65 x 50500 - 2.48 x, or 12.17 x 50500.If x is now 5500,
Profit thus equals
12.17 x 5000 – 5000 = 16435.Given that profit is 45389, this means that
45389 = 12.17 x 50500 (45389 + 50500) / 12.17 equals 7879.In order to make a profit of $45389, 7879 charges must be sold.
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Correct Question - Your Company Sells Phone Chargers. The Fixed Costs For Your Company Are $50,500. It Costs $2.48 To Produce Each Phone Charger And Each Sells For $14.65. What Are The Cost, Revenue And Profit Functions? Compute The Profit (Loss) Corresponding To Production Levels Of 5,500 Chargers. How Many Chargers Must Be Produced And Sold If You Wish To Make A Profit
What are the cost, revenue and profit functions?
Compute the profit (loss) corresponding to production levels of 5,500 chargers.
How many chargers must be produced and sold if you wish to make a profit of $45,389? Round to the nearest whole number.
Which process supports the design and development of products from the initial product idea stage through the discontinuation of the product?
The lifecycle data management (design) method aids in the conception and creation of products from the time of their inception till their discontinuation.
Data lifecycle management: What is it?Data lifecycle management (DLM) is a method for managing data from the point of data entry to the point of data deletion. Data is divided into phases depending on various criteria, and as it completes various tasks or satisfies particular needs, it advances through these stages. A successful DLM process gives a business's data structure and organization, enabling important process goals including data security and availability.
These objectives are essential to corporate success and become more significant over time. Businesses can plan for the dire repercussions in the event of data breaches, data loss, or system failure thanks to DLM policies and procedures.
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Explain how banks have transformed their commercial lending business from asset transformation to brokerage services
Asset transformation by financial intermediaries is the purchase of a primary asset or securities and their transformation into other assets in terms of risk and maturity.
A type of transformation where banks use deposits (mobilized funds) to generate income by pooling deposits to provide loans. More precisely, asset transformation is the process of converting bank liabilities (deposits) into bank assets (loans). Deposits are inherently subject to withdrawal by customers (depositors) at any time or as set out in the deposit contract/agreement. Loans are bank assets because they represent money that the bank lends and expects to receive back in the form of repayment of principal and interest. As such, banks perform asset transformation by providing long-term and short-term loans, with the interest differential being their transformation returns. Banks and other financial institutions usually perform asset transformation by offering their customers various financial products on both sides of the balance sheet, such as deposits, investment and loan products, etc.
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A _________ license allows companies to install the software on multiple (or all) the machines that they own.
A "Volume" license allows companies to install the software on multiple (or all) the machines that they own.
What is Volume license?Volume licensing is a type of software licensing arrangement in which a single license key is used to authorize software on multiple computers.
Some key features regarding the Volume license are-
For example, a company may buy a software license that enables up to 50 of its employees to utilize the software concurrently. A single VLK (volume license key) can be used to authenticate this same software for all installations in this case.Product licenses would not expire: they are valid for the life of the product. Benefits from Software Assurance (SA) expire after two years, but they may be renewed for a fee up to 90 before the expiration date. There isn't a grace period just after license period has expired to renew your benefits.To know more about the Volume license, here
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Most standard portfolio analysis methods evaluate strategic business units (sbus) on their performance in two important dimensions. what are these two dimensions?
The majority of conventional portfolio-analysis methodologies evaluate SBUs based on two crucial factors: the market or industry an SBU operates in is appealing, and an SBU's position within that market or industry is strong.
What is Strategic Business Unit?
A strategic business unit, or SBU for short, is a fully operational part of an organization with its own mission and goals. An key section of the organization, a strategic business unit typically functions independently. It provides updates on its operational status to the headquarters. Although a strategic business unit, or SBU, is an independent company, it is required to report directly to the organization's headquarters on the status of its operations. It is independent and centered on a particular market. It is large enough to have independent support divisions for things like human resources and training. Having an SBU has a number of advantages. For businesses with a variety of product structures, this strategy is most effective. Proctor and Gamble, LG, and other businesses are the best examples of SBU. Under one roof, these businesses house numerous product categories. For instance, the company LG produces consumer durables.
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When an organization focuses on the obligations it has to consumers, employees, suppliers, and distributors it is accepting its ________ responsibility
When an organization focuses on the obligations it has to consumers, employees, suppliers, and distributors it is accepting its stakeholder responsibility.
What is the stakeholder responsibility?A company's stakeholder responsibilities refers to those obligations that it has to its internal and external stakeholders.
Internal stakeholders include employees and the external stakeholders include consumers, suppliers, and distributors.
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Employing case managers to do home-visits for patients whose asthma is not well-controlled despite health education and medication is an example of:_________
Employing case managers to do home-visits for patients whose asthma is not well-controlled despite health education and medication is an example of Innovative clinical prevention.
What is Innovative clinical prevention?These refer to any methods that are used to ensure that people's health conditions do not get worse.
They are especially useful in cases where health education and medication are not working as is the case with these asthma patients. The case managers can ensure that the patients get the best care by doing home-visits.
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Assuming you have a tcf free student checking account, which fee would end up costing you extra money?
a. out-of-network atm fee
b. monthly maintenance fee
c. paper statements fee
d. account closing fee
You have a tcf free student checking account, which fee would end up costing you extra money Out-of-network ATM Fee
therefore the correct option is A
TCF Student free checking
The Federal Deposit Insurance Corporation insures this account up to $250,000 per person (FDIC). You are protected by the FDIC, an independent agency of the US government, in the event that a bank or savings organisation that has deposits insured by the FDIC fails. The entire confidence and credit of the US government supports FDIC insurance.
No monthly charge.
There is no monthly service fee associated with this account.
Zero ATM fees.
For ATM transactions made inside the TCF Free Student Checking network, there are no fees, however outside the network, there may be a price of up to $3.
Pay bills.
Use TCF Bank to pay your bills to just about anyone in the US.
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Edison consulting received a $470 utilities bill and immediately paid it. edisons general journal entry to record this transaction will include a?
The fact that Edison Consulting received a $470 utilities bill means that the general journal entry will include Debit to Utilities Expense for $470.
How are expenses recorded?When a company incurs expenses, these are to be debited to the relevant expense account. This is because expenses reduce the value of revenue which is credited.
The utilities expense account will therefore be debited by Edison Consulting for the amount of $470.
Options for this question are:
Debit to Utilities Expense for $470. Credit to Accounts Payable for $470. Debit to Cash for $470. Credit to Utilities Expense for $470Debit to Accounts Payable for $470.Find out more on recording expenses at https://brainly.com/question/26478125
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If two duopolists can stick to a cartel agreement ot boost their prices, then both?
When two duopolists successfully enforce a cartel agreement to raise their rates, both make more money than they would have otherwise.
A cartel is a collection of producers who cooperate to safeguard their interests. When a few significant producers choose to work together on some elements of their market, cartels are formed. Once established, cartels can set prices for its members to prevent price competition.
Oligopolistic businesses join cartels to gain more market sway, and the group's members collaborate to decide on the volume of output and/or price each member will produce. The cartel members might act like monopolists because of their cooperation.
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