The most important decision-specific characteristics that make accounting information helpful are relevance and faithful depiction.
Accounting data is the information that is recorded in the books of accounts and is utilized by management to make decisions. Financial statements are created using this data.
The information provided should be pertinent to the financial statement users and aid in their decision-making. Users may rely on the reported information to develop their opinions and make decisions because dependability guarantees that correct information is reported. According to the feature of relevance, the information must be both confirmatory and predictive in order for users to make and assess economic decisions. The type and substance of information have an impact on its relevance. A depiction would need to have three qualities in order to be an exact replica. It would be whole, impartial, and error-free.
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Obtaining evidence to determine that all inventory, accounts payable, notes payable and expenses are included on the financial statements relates to the ______ assertion.
Obtaining evidence to determine that all inventory, accounts payable, notes payable and expenses are included on the financial statements relates to the completeness assertion.
What is Financial Statement ?
The income statement, balance sheet, and statement of cash flows are the three main sections of the financial statements. These statements are intended to be read collectively in order to provide a thorough view of a company's financial situation and performance. There is a case can be made for each financial statement being the most significant, but the answer ultimately comes down to the user's requirements.
The income statement, which shows a company's potential to make a profit, is likely to be the most crucial financial statement for the majority of users. Additionally, the data on the income statement is largely expressed in current dollars, indicating a respectable level of accuracy.
Since the balance statement does not provide the results of operations and some of the statistics listed there may be dependent on prior costs, the report is likely to be ranked third by many consumers.
The statement of cash flows may be a contender for most crucial financial statement because it only considers changes in cash inflows and outflows.
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Capital needed for company activities cannot be acquired through: ______
a) stocks and bonds
b) current debt profits
c) arbitrarily firing employees
Correct option is C. Capital needed for company activities cannot be acquired through arbitrarily firing employees.
What is meant by at-will employment?
At-will employment is defined by US labor law as the right of an employer to fire an employee without cause (i.e., without having to provide "just cause" for termination) and without prior notice, so long as the reason is legal (e.g., not firing an employee due to their race, religion, or sexual orientation).
Courts reject any claims for damages resulting from a dismissal where an employee is recognized as having been hired "at will." The practice is viewed as unjust by people who believe that the work relationship is marked by an imbalance of bargaining power because an employee may also be entitled to quit their job without cause or notice.
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When pizza company sells three $100 gift cards at the beginning of the month, it should record a $300 debit to ______ and a $300 credit to _____
Explanation:
one and three
is the answer
Cumulative preferred stock carries the right to be paid both current and all prior periods' unpaid dividends before any dividends are paid to common shareholders. True or false
Cumulative preferred stock carries the right to be paid both current and all prior periods' unpaid dividends before any dividends are paid to common shareholders. -----True
How do preferred stocks work?
Preferred are issued with a fixed value and pay dividends based on a percentage of that par, at a fixed rate. As same as bonds, which also make fixed payments, the market value of preferred shares is very common to changes in interest rates. If interest rates increases, the value of the preferred shares decreases.
What are the advantages of preferred stock?
The advantages of preferred stock normally has greater and more regular dividends, it is less volatile in compare to common stock and carries low risk. A preferred stock with a guaranteed dividend is considered a fixed-income investment same to a bond.
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The price at which stock is sold depends on a variety of factors such as the ______.
It depends on the following:
1. the company's financial standing, track record of earnings, and dividend payouts
2. Investor projections for the probable earnings of the company
3. The state of the economy and overall business circumstances
What are stocks?
A security that denotes ownership of a portion of the issuing company is referred to as stock, also known as equity. Shares, which are units of stock, entitle their owners to a percentage of the company's assets and income based on how many shares they possess.
The cornerstone of many individual investors' portfolios, stocks are mostly bought and sold on stock exchanges. Government rules aimed at shielding investors from dishonest tactics must be followed when trading stocks.
Corporations issue stock to obtain money to run their businesses, and a shareholder who owns stock may be entitled to a portion of the company's assets and earnings.
Depending on how many shares an investor owns in relation to the total number of shares outstanding, the investor is regarded as an owner of the issuing firm. One individual would hold and be entitled to 10% of the assets and profits of the company if there are 1,000 shares of stock outstanding and they each have 100 shares.
Thus, the Prices of stocks keep on fluctuating and depend upon a number of factors.
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In a competitive market, the market demand is qd = 400 - 5p and the market supply is qs = 10p - 80. the full economic price under a price ceiling of $25 is:_________
In a competitive market, the full economic price under a price ceiling of $25 is $170.
Given,
QS = Quantity supplied
QD = Quantity demanded
P = Price
At P = $25
Thus,
QD = 400 - 5P
QD = 400 - 5(25)
QD = 400 - 125
QD = $275
The market supply is QS = 10p - 80
QS = 10 (25) - 80
QS = 250 - 80
QS = $170
Hence, in a competitive market, the full economic price under a price ceiling of $25 is $170.
A price ceiling keeps a price from rising above a certain level. Price ceilings is used by government to protect consumers from conditions that could make commodities prohibitively expensive.
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Suppose that the gdp of california increases by 14ach year. how long will it take for the gdp of california to double? round your answer to one digit after the decimal.
5 years long will it take for the Gdp of California to double. round your answer to one digit after the decimal.
What is a simple definition of GDP?
GDP calculates the monetary value of the final goods and services—those purchased by the consumer—produced in a nation during a specific time period (say a quarter or a year). It accounts for all the output produced inside a nation's boundaries.How the GDP is calculated?
GDP is calculated as private consumption plus gross domestic product plus government investment plus (exports – imports). The country's national statistical office often uses the international standard to compute GDP.Number of years to double = 70/annual growth rate
Number of years to double = 70/14%
Number of years to double = 5 years
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Soft skills are ________; they are more or less relevant in every job, at every level, and throughout your career.
Soft skills are portable because they are somewhat applicable in every position, at every level, and over the course of your career.
What do soft talents entail?
People require soft skills, or interpersonal abilities, in order to succeed at work. This could entail the capacity to multitask, manage time effectively, and work well in teams. Soft skills are essential for success in any job, but they are crucial in social work in particular.
Numerous stakeholders, each of whom may have diverse interests, are involved in a significant amount of the work that is done in the social sector. In situations like this, having the proper interpersonal skills is essential to coming to a successful conclusion.
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Alana, the children's department manager at shoe mart, has eight employees in her department, and all of them report directly to her. the eight employees who report directly to alana are her _____.
Alana, the children's department manager at shoe mart, has eight employees in her department, and all of them report directly to her. the eight employees who report directly to Alana are her span of control.
What is the Span of control?Human resource management and commercial management both frequently employ the phrase "Span of Control." The total number of subordinates that a manager or supervisor can supervise is what this term refers to because it has to do with managing and supervising personnel. The collecting and management of operational data were one of several middle managers' jobs that was made easier by technology. As a result, a manager may now oversee more employees concurrently. The scope of a manager's authority is influenced by a number of variables, including the nature of the work, the manager's skills, the skills of the personnel under management, and the manager's duties. It comes in two flavors, such as a narrow and a wide control span. When a manager is in charge of between two and four employees, it is deemed to be narrow.
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The portion of a change in quantity demanded caused by a change in price that makes other products more or less costly.
The portion of a change in quantity demanded caused by a change in price that makes other products more or less costly is substitution effect.
A shift along a demand curve is used to illustrate a change in quantity demanded. The elasticity of demand, which is correlated with the slope of the demand curve, is the ratio of the change in quantity required to a change in price.
The substitution effect is the decline in sales of a product that results from customers switching to less expensive substitutes when the price of the product increases. Although there are numerous possible reasons why a product loses market share, the substitution impact is only a reflection of thriftiness. A brand’s price increase may cause some customers to choose a less expensive substitute.
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The incompatible interests, needs, and desires of diverse groups of people in society can lead to _______________.
The incompatible interests, needs, and desires of diverse groups of people in society can lead to Social conflict.
What is social conflict?The fight for control or authority in society is known as social conflict. Social conflict or group conflict arises when two or more actors oppose one another in social interaction, reciprocally using social power to pursue limited or incompatible goals while obstructing the opponent's progress toward achieving their own.
In this type of social interaction, the action is purposefully directed toward enforcing the actor's own desires in the face of opposition from one or more other parties.
Karl Marx is credited with creating conflict theory, which holds that competition for few resources causes society to be perpetually at war.
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True or false? friction can be used to describe challenges that hold back your internal teams as well as challenges that hold back your customers
'The Statement is True.
Friction can be used to describe challenges that can hold back your internal teams as well as challenges that hold back your important customers.
The concept of business friction is not come to be new since it is anything that can prevent and dissuades each and every customer from buying your desired products as well as services. On behalf of the customers, friction can be considered as very long wait times for the activity of holding and those particular products that are in a number of out of stock or having any kind of bad experience with a website of a specific company.
In order to remove friction internally, you need a clear evaluation of how teams gonna work together, processes their work, and how accessed data flows. It can remove all kinds of obstacles that can prevent us from getting any critical stuff to be done. We should have a look both at how a business runs well and the one who is running any business.
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Suppose your data contains n = 120 observations. according to the rule-of-thumb for choosing the number of bins, you should use?
Say you have 120 observations in your data. Use the general rule-of-thumb for selecting the number of bins: Aside from that
What is the primary guiding principle?
A rule of thumb is a heuristic recommendation that offers condensed guidance or a fundamental set of rules for a certain topic or course of action. It is a general idea that offers helpful guidelines for completing or tackling a particular task.
For instance, he mostly works by rule of thumb when working with the young group. This phrase makes reference to using one's thumb to make quick measurements.
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A spherical balloon is being inflated and the radius of the balloon is increasing at a rate of?
Volume of a sphere = V(r) = (4/3)πr3
Given: dr/dt = 2 cm/s
a) r(t) = 2 t
b) (V o r)(t) = V(r(t)) = (4/3)π[tex](2t)^3[/tex] = (32/3)π[tex]t^3[/tex]
This is the volume of the balloon as a function of time, V(t).
What is volume?Volume is the total amount of material that passes through a given area in one second. It can be measured in cubic meters, liters, or gallons depending on the application.
Volume is important for various purposes including manufacturing, engineering, and medicine.
Volume is simply the number of items that have been sold or ordered in a particular period of time.
It can be used as an indicator of business performance and can help to determine whether or not you should increase your marketing efforts. Volume may also impact prices, so it is important to track and monitor it closely if you are involved in the retail industry.
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To understand how much improvement potential there is one must first measure what percentage of a machine's or a worker's?
To understand how much improvement potential there is one must first measure what percentage of a machine's or a worker's capacity is used productively.
More about machine's or worker's capacity:
It is possible to study patterns in salary growth, wage levels, and technical advancement by further segmenting labour productivity. Productivity increase is directly related to corporate earnings and shareholder returns.
Knowing and acknowledging areas for development is a sign of modesty and is a strength in and of itself. Utilizing strengths and using it productively is essential to the value we provide to our business, our team, and other employees. Yet, even with our strengths, we can be cognizant of how we may better even these gifts.
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During june, buttrey corporation incurred $79,000 of direct labor costs and $19,000 of indirect labor costs. the journal entry to record the accrual of these wages would include a:_________
Answer: debit to work in Process of $79,000.
What is journal entry?A journal entry is used to record a business transaction in the company's accounting records. The main ledger is where journal entries are frequently made, however they can alternatively be created in a subsidiary ledger and then rolled forward into the general ledger after being summarized. After that, financial statements for the company are generated using the general ledger.
According to the logic underlying a journal entry, every business transaction should be documented in at least two locations (known as double entry accounting). For instance, the income account and the cash account are both boosted when you make a cash sale. Alternately, raising the accounts payable and inventory accounts results from making purchases on credit.
Explanation:
Cost of direct labor: $79,00 and
$19,000 is indirect labor costs
Work in process is debited and factory payroll is credited when direct labor costs are allocated to it.
Manufacturing overhead is deducted and factory payroll is credited when direct labor costs are attributed to work that is already in progress.
In order to record the accrual of Direct labor expenses, a journal entry would need to debit work in process by $79,000 and credit factory payroll by the same amount.
In order to record accrual of indirect labor costs, a journal entry would debit manufacturing overhead by $19,000 and credit factory payroll by the same amount.
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Which insurance company department determines the probability of loss and sets the premium rates?
a. sales
b. claims
c. actuarial
d. underwri
Actuarial department of Life insurance determines the probability of loss and sets the premium rates.
What is the actuarial department in insurance?
An insurance actuary deducts financial risk. They use mathematical, statistical, and financial modeling to analyse the chances that something may occur. Their analysis helps insurance companies frame insurance policies and programmes.
Why do insurance companies use actuaries?
“The use of the Actuary role is to ensure that the board has access to expert and impartial actuarial advice and revise , to assist with the sound and adequate management of an insurer and that the insurer gives accurate consideration to the protection of policyholder interests.
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Patent infringement occurs in one of two ways: _______ or _______.
Patent infringement occurs in one of two ways Literal Infringement or Non- Literal Infringement.
The expression Literal Infringement implies that every component presented in a case has an indistinguishable correspondence in the supposedly encroaching gadget or cycle.
Non-Literal Infringement happens while the encroaching gadget or process might be comparable or identical to the asserted creation and carries out considerably a similar role, in significantly the same way and to accomplish significantly a similar outcome.
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Start-up companies rely on bank loans and investors who are willing to invest in them in return for an ownership stake in the firm. what do you call the equity investment in these young companies?
Start-up companies rely on bank loans and investors who are willing to invest in them in return for an ownership stake in the firm. The equity investment in these young companies are called venture capital.
Venture capital is defined as the type of financing company which provides finance to start up companies or small business for future growth. They are basically the famous investors, financial institutions, investment banks. They in return get the ownership stake in the firm.
People trust them for funding as they have experience in this field. Venture capital helps not only in the monetary value but in technical or management skills also.
It is very beneficial as the resources are utilized in a proper way which results in a growth potential.
It may be risky for the investors for investing in the new startups as if the company not succeed they will have to bear the loss of earning nothing and risk of getting return of principal amount.
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Starting at long run equilibrium, ceteris paribus, a decrease in the costs of widely used factors of production would most likely:_____.
Starting at long-run equilibrium, ceteris paribus, a decrease in the costs of widely used factors of production would most likely increase short-run aggregate supply.
What Is Equilibrium?Prices must be stable due to a balance between market supply and demand. This is the state of equilibrium. As opposed to a shortage or undersupply, which raises prices and lowers demand, a surplus of goods or services typically results in lower pricing, which increases demand.
The equilibrium price is the one where supply and demand are balanced. The forces of supply and demand are essentially equal, and the market is in equilibrium when a major index experiences a period of consolidation or sideways movement. According to economists, price changes are typically close to the equilibrium values. Market dynamics will encourage sellers to enter if the price increases excessively.
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Explain ONE possible non-financial aim an entrepreneur may have when starting a
small business
Answer:
Gaining experience
Explanation:
A marketplace offering that fairly and accurately sums up the value that the customer will realize if he or she purchases the product or service is known as a(n) ________.
A marketplace offering that fairly and accurately sums up the value that the customer will realize if he or she purchases the product or service is known as Value Proposition.
A value proposition alludes to the worth an organization vows to convey to clients if would it be a good idea for them if they decide to purchase their item. It is important for an organization's general showcasing technique.
The incentive gives an announcement of expectation or an explanation that acquaints an organization's image with purchasers by letting them know what the organization depends on, how it works, and why it merits its business.
It also can be introduced as a business or showcasing proclamation that an organization uses, to sum up why a shopper ought to purchase an item or utilize help.
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Has its assembly operations performed by finer inc, a firm that deals exclusively in assembling products for other companies. this scenario indicates that ban corp. engages in the practice of:_________
The scenario indicates that ban corp engages in the practice of outsourcing.
What is outsourcing?
Hiring a third party to do tasks, manage operations, or provide services on the company's behalf is referred to as outsourcing in business.
The building of websites, office and warehouse cleaning, and advertising are the best examples of outsourcing. Most business owners delegate authority to other experts for duties like hiring, maintenance, and bookkeeping. This makes it possible for businesses to focus the majority of their resources on their main business.
With outsourcing, you may do more as a small business without having to considerably increase your full-time personnel by handing off important tasks and processes to professionals.
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What is the advantage to a scientist in using a line drawing rather than a ball-and-stick?
The advantage to a scientist in using a line drawing rather than a ball-and-stick is that it reduces the time needed to design additional details for intricate structures.
What is ball-and-stick model?The ball-and-stick model is a molecular representation of a chemical compound used in chemistry to show both the atoms' three-dimensional positions and the bonds that connect them. Typically, spheres are used to represent the atoms, while rods are used to depict the bonds.Different colors are used to symbolize specific atoms; for instance, black is typically used to represent carbon and white to represent hydrogen.Accuracy of the ball and stick model depends on accurate bond angle representation. To comprehend the geometry of a molecule, a "open" model, as opposed to a space-filling model, allows the atoms and bonds to be seen clearly.Learn more about ball-and-stick model here:
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Current market prices reflect all relevant information, whether it is known publicly or privately. True or false?.
True. Current market prices reflect all relevant information, whether it is known publicly or privately.
What does strong-form efficiency mean?Strong form efficiency is the strictest interpretation of the efficient market hypothesis (EMH) investment theory, which claims that a stock's price takes into account all available information, whether it is public or private. Strong form efficiency advocates contend that even access to insider information cannot benefit an investment.
No matter how much study or information investors have access to, this level of market efficiency indicates that profits above typical returns cannot be realized. The majority of instances of strong form efficiency involve insider knowledge. This is due to the fact that the EMH's strong form efficiency is the sole component that incorporates confidential information.
Contrary to popular opinion, the idea contends, that possessing inside information won't help an investor achieve large market returns.
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George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits ______.
In a case whereby George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000.
What is journal entry?A journal entry can be described as an act of keeping which involves the making records of any transactions .
It should be noted that Transactions are listed in an accounting journal so that the company's debit as well as the credit balances of the company can be shown.
In the case, above , we will record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000, hence journal entry can encompass several recordings, in a debit or a credit.
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An institution that gives households and corporations access to direct finance is called ________.
An institution that gives households and corporations access to direct finance is called a brokerage
This is further explained below.
What is brokerage?Generally, A brokerage firm's primary function is to play the role of a middleman, connecting potential buyers and sellers in order to make a transaction possible.
The compensation received by full-service brokerage firms might take the form of a set yearly fee or fees per transaction.
Although they provide a certain amount of free stock trading, online brokers charge commissions and fees for additional services.
In conclusion, A brokerage is a kind of financial institution that provides access to direct financing for individuals, businesses, and other organizations.
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In a designed experiment, a(n) _____ measures the difference that a factor has on the response.
In a designed experiment, a(n) main effect measures the difference that a factor has on the response.
In the scientific method, an experiment is a series of actions and observations performed in the context of solving a particular problem or question in order to support or refute a hypothesis or study about a phenomenon. Experiments occupy an important place in the development of science. Because experiments are used to test a thought, an axiom, or the reality of a phenomenon on the basis of a rationale and turn it into a law or a theorem like Newton's Law.
The four basic elements that affect the validity of an experiment are controls, independent and dependent variables, and constants. These basic requirements must be in place and identified for an experiment to be considered valid.
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Consumers are said to be least responsive to price changes when the demand curve is:_________
Consumers are said to be least responsive to price changes when the demand curve is vertical.
The demand curve represents the level of demand for a product or service in relation to its price. For normal goods, the demand is curved and connects the vertical axis (representing price) and the horizontal axis (representing demand), showing that price and demand are inversely proportional to one another, such that if price rises, demand falls, and vice versa.
If the demand curve happens to be vertical also, it represents a situation of perfectly inelastic demand. This means that changes in price have no effect on the level of demand.
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The law requiring that toys and infant products be tested before sale is called the?
Consumer Product Safety Improvement Act is a law requiring that toys and infant products be tested before sale. President George W. Bush signed the Consumer Product Safety Improvement Act (CPSIA) of 2008 into law on August 14, 2008.
This law establishes new standards for testing and documentation as well as new thresholds for a number of drugs. It imposes new restrictions on producers of clothing, footwear, personal care items, jewelry, accessories, home decor, bedding, toys, electronics, video games, books, school supplies, and scientific kits. The Act also provides higher penalties and longer jail terms for some infractions. Because of how many different types of businesses were impacted by this act, it was viewed as controversial in part.
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