Net Income flows from the income statement to the statement of retained earnings.
The balance sheet is balanced when net income from the income statement, less any dividends paid, is transferred to the retained earnings column. Additional connections- Long-term debt on the balance sheet is used to determine interest expenditure on the income statement.
Net income: In commerce, Net Income is the amount of cash left over on balance costs, like salaries and wages, the value of commodities or raw materials, and taxes, are paid. Net Profit is the amount that an individual keeps after paying taxes, insurance premiums, and retirement contributions.
Net Income flows from the income statement to the statement of retained earnings.
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Excellent inc. Manufactured 6,000 units during the month of may. It incurred direct materials cost of $120,000 and manufacturing overhead costs of $48,000. If its per-unit prime cost was $31. 20 per unit, how much direct labor cost did it incur during may?.
Excellent inc. Manufactured 6,000 units during the month of may. It incurred direct materials cost of $120,000 and manufacturing overhead costs of $48,000. If its per-unit prime cost was $31. 20 per unit, direct labor cost did it incur during may be $67,200.
What is direct labor cost?
Wages paid to employees directly related to producing goods or rendering customer services are referred to as direct labour costs. The overall direct labour cost exceeds wages paid by a significant amount. The direct labour cost is equal to the pay rate times the amount of time spent working on the project, or Direct Labor Cost = Pay Rate * Project Time. So, if a job required 2 hours of work at a rate of $20 per hour, the direct labour cost would be $40.
Therefore,
Excellent inc. Manufactured 6,000 units during the month of may. It incurred direct materials cost of $120,000 and manufacturing overhead costs of $48,000. If its per-unit prime cost was $31. 20 per unit, direct labor cost did it incur during may be $67,200.
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The types of quasi-contractual terms with which employees view what they owe their employer and what their employer owes them are referred to as:_____.
The types of quasi-contractual terms with which employees view what they owe their employer and what their employer owes them are referred to as Contractual agreement.
What is Quasi-contract terms?
When there is a dispute between the parties and there was no initial agreement between them, the court may construct an out-of-order contract. This contract has the obligation to prevent one party from unfairly benefiting at the expense of the other parties. This circumstance is known as a quasi-contract.A retroactive agreement between two parties with no prior contractual responsibilities is known as a quasi contract.A court enacts it to address a situation where one party gains something at the expense of the other.A retroactive agreement between two parties with no prior contractual responsibilities is known as a quasi contract. A court enacts it to address a situation where one party gains something at the expense of the other.To know more about Quasi-contract visit:
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The following product that is found only at walmart is an example of? counterfeit brand manufacturer brand national brand private-label brand premium brand
It is an instance of producer brand. The identify of a producer on a product, used to advertise and promote the product: It is estimated that 85% of all sporting goods are offered underneath a manufacturer's brand.
What is a Manufacturer Brand?
The first aspect that probable comes to thinking when questioning of manufacturing manufacturers are the giants that have constantly been. We're speakme Ford, Nestle, Coca-Cola, Apple and the lot.
Is manufacture the equal as brand?ADVERTISEMENTS: Difference between Manufacturers Brands and Own-Label Brand are as follows: Traditionally, producers branded their products and bought them to clients via the use of the distribution channel. Wholesalers, distributors and outlets offered only the manufacturers' brands.
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activities necessary to manage current ___?____
economic resources while working toward long-term
financial security.
refers to the daily financial
Money management activities necessary to manage current personal economic resources while working toward long-term financial security.
option c is the correct answer
What is money management?The term Money management refers to the methods of saving, planning spending, investing, and all other activities that deals with the use of money for personal use or organizational use.
Money management helps in growing wealth and regulating the use of money. This is an important scheme in business and should be done with care. Money management helps to make a clear goal of the intended use of money and clears certain areas that is not worth spending on.
The information gathered so far has helped us see that money management is necessary to manage current personal economic resources while working toward long-term financial security. Hence the other options which are required and inflated are not relevant to the topic being discussed.
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How much would you have to invest today at 4.5ompounded annually to have $32,425 available for the purchase of a car at the end of five years from now?
You have to invest today $26,019.48 at 4.5ompounded annually to have $32,425 available for the purchase of a car at the end of five years from now.
It is calculated as follows:
The formula for calculating present value is:
PV = FV(1 + r)^-n
where:
FV = Future value = 32425
P = Present value
R = interest rate = 4.5
N = number of years = 5 years
$32,425(1.045)^-5 = $26,019.48
Present value or PV is the current value of a future sum of money or any stream of cash flows giving a specified rate of return.
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How can a country achieve higher levels of competition and a variety of products in an industry with only one or two domestic firms producing a good?
Through promoting intra-industry trade, a country can increase levels of competition and the range of products produced in an industry with only one or two local enterprises producing a good. International trade for goods produced by the same business is known as intra-industry trade.
According to the idea of economies of scale, production costs often decrease as output scale increases. When it makes it possible for one or two large producers to supply the entire country, it becomes particularly important to international trade. A way to maintain consumer choice and competition while combining economies of scale-driven lower average manufacturing costs is through international trade.
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Savings by _____ in small dollar amounts is the origin of much of the money that funds business loans in an economy
Savings by Household in small dollar amounts is the origin of much of the money that funds business loans in an economy.
What is loan budget a business?Business financing is a funding opportunity for business owners to access company loans to be able to pay for things like temporary cash flow interruptions, development schemes, inventory and equipment, and seasonal points in activity.
What is a good excuse for a business loan?
Probably the most obvious reason to think a small business loan is to invest in an increase opportunity for your business. When business is booming, continuing to grow your company can help ensure that your profits don't table or shrink.
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Which level of structural organization is considered to be the highest (most complex) level?
Organism is level of structural organization is considered to be the highest (most complex) level.
What is organismal level?The Organismal level can be described as the most complex level of organization which can be explained as the organismal level, an in this level all the eleven organ systems function in the human organism.
It can be considered as a complex level with full developed structure in the whole living person, hence Organism is level of structural organization is considered to be the highest (most complex) level.
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Because common shareholders are entitled to the profits that remain after all of a corporation's other obligations have been met, common shareholders are known as:________
Because common shareholders are entitled to the profits that remain after all of a corporation's other obligations have been met, common shareholders are known as Residual owners.
What does Shareholders means?A shareholder (in the US frequently alluded to as investor) of a company is an individual or legitimate substance.
A body politic, a trust or organization) that is enlisted by the partnership as the lawful proprietor of portions of the offer capital of a public or confidential partnership. The impact of a shareholder on the not entirely set in stone by the shareholding rate claimed. Shareholders of a company are legitimately isolated from the actual enterprise.
They are for the most part not at risk for the organization's obligations, and the shareholders' responsibility for organization obligations is supposed to be restricted to the neglected offer cost except if a shareholder has offered ensures. The company isn't expected to record the helpful responsibility for shareholding, just the proprietor as recorded on the register.
Therefore Shareholders might have procured their portions in the essential market by buying into the Initial public offerings.
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Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is:_____.
Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is Credit Revenue. The ordinary equilibrium for your value is known as a credit balance, and in that capacity, revenues must be recorded as a credit and not a charge.
What does Credit Revenue means?In Accounting, revenues are credits since revenues make proprietor's value or investors' value increment.
Revenue Credit implies the revenue from the Arrangement's Speculation Assets if any, that are held in the Revenue Credit Record inside the Arrangement and that stay after the installment of Plan costs.
At your bookkeeping year's end, all revenue account credit adjusts must be shut and afterward moved to your capital record, accordingly expanding your value.
Therefore Credit Revenue is correct.
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The net amount of property, plant, and equipment reported in the balance sheet generally is equal to:_________
The net quantity of property, plant, and equipment suggested in the balance sheet normally is equal to capital expenditures.
A capital expenditure is cash invested via a agency to gather or upgrade fixed, physical, non-consumable assets, such as a building, a computer or a new business.
What are capital expenditures examples?Also acknowledged as capital expenses, capital bills include the buy of objects such as new equipment, machinery, land, plant, buildings or warehouses, furnishings and fixtures, business vehicles, software, or intangible belongings such as a patent or license.
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https://brainly.com/question/21976414#SPJ4The equation used to determine the approximate real interest rate is?
The equation that is used for the purpose of determining the approximate real interest rate is calculated by the difference between the actual interest rate less the rate of inflation in an economy.
What is the significance of real interest rate?The real interest rate can be referred to or considered as an adjusted rate of interest, which is computed by comparing the difference of nominal interest against the inflation status in an economy during a given period of time. It is written in the form of equation as,
Real Interest Rate ≅ Actual Rate of Interest – Rate of Inflation
Therefore, the significance regarding real interest rate has been aforementioned.
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Management disclosure of the likely impact of implementing recently issued accounting standards is least likely to:_____.
Management disclosure of the likely impact of implementing recently issued accounting standards is least likely to state that the impact of the standard is impossible to determine.
What is management disclosure?Everything needed for internal organization and maintenance of the financial disclosure process inside your organization is included in disclosure management.
For instance, the Securities and Exchange Commission (SEC) filings are a standard obligation for public companies in the US. A lot of attention is paid to those reports. It's imperative to get everything perfect because any mistakes could have serious repercussions.
Financial statement production is only one aspect of disclosure management. Regulatory filings also need to include narrative justification. The story behind the data must be revealed by management.
As a result, disclosures are a little more complex than internal financial reports. Further complicating matters are other regulatory requirements, such as the need that filings be made in XBRL format.
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The ____ area of project management knowledge refers to the application to which project management is applied.
The application area of project management knowledge refers to the application to which project management is applied.
What is management?Management is the process of organizing a company's resources and actions in order to accomplish certain goals as effectively and efficiently as feasible. The successful fulfillment of duties with the least amount of expense is referred to as efficiency in management. The accomplishment of tasks within predetermined deadlines to produce quantifiable results is a key component of managerial effectiveness.
All parties who have a stake in the company, such as the government, consumers, and employees, should be taken into account by management. Setting and achieving goals for the organization is the responsibility of managers. Utilizing its human, material, and financial resources, an organization's main goal is typically to grow.
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If a 4 percent increase in the price of a good leads to a 1 percent decrease in the quantity demanded, the price elasticity of demand for the good equals ________.
The price elasticity of demand for the good is found to be 0.25.
Given here the price of goods changes by 4% and change in quantity demand by 1%
Price elasticity of demand can be calculated by the formula,
Price elasticity of demand = change in quantity demand / change in price of goods.
Price elasticity = ¼
=0.25
Thus the price elasticity of demand for the goods is found to be 0.25.
The price elasticity of demand measures how responsive a quantity’s demand is to a given price. For practically any good, quantity desired decreases as the price rises, however it decreases more for some goods than for others. Since the change in demand is essentially the same whether prices rise or fall, price inelasticity gives businesses more pricing flexibility.
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The difference between the price the firm sells a good for and the price the firm paid other firms for intermediate goods is called?
The difference between the price the firm sells a good for and the price the firm pays other firms for intermediate goods is called value added.
What are intermediate goods?Products used as inputs in the creation of other goods, including final goods, are referred to as intermediate goods, producer goods, or semi-finished products. A company can produce intermediate items, sell them, or purchase them to utilize later. Intermediate items are used in the production process and either ends up in the finished product or undergo significant transformation. This means that between industries, intermediary commodities are resold. Since only the final product should be counted and the value of the intermediary good is included in the value of the final good, intermediate goods are not included in a country's GDP calculation.
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Which city is located on the arno river and had major industries of clothing and banking? it was the home of the wealthy medici family. question 12 options: venice florence rome augsburg
One of the cities in Italy is Florence. The city is situated on the Arno River, which frequently floated through the city in the past.
Around the first century BCE, the Romans established Florence as a military colony. Throughout Florence's lengthy history, it has served as a republic, the seat of the duchy of Tuscany, and the capital of Italy (1865–1870). Florence rose to prominence in study, the arts, trade, and banking between the 14th and 16th centuries. Florence's current splendor is largely a result of her past. In fact, UNESCO added its historic center on the World Heritage List in 1982. The city of Florence still bears witness to the geniuses' enthusiasm for art, power, or religion because they were supported by individuals of astounding fortune.
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If a central bank wants to counter the change in the price level caused by an adverse supply shock, it could change the money supply to shift?
Aggregate demand left.
What Is a Supply Shock?A supply shock is an unanticipated occurrence that abruptly alters the supply of a good or commodity, causing an unanticipated shift in price. Supply shocks can be positive, resulting in an increased supply, or negative, resulting in a lower supply; however, they are frequently negative. A negative (or adverse) supply shock drives up the price of a product, whereas a positive supply shock drives it down, assuming that overall demand remains constant.
A shift in the supply curve to the right caused by an increase in output and a positive supply shock lowers prices, whereas a reduction in production and a negative supply shock raises prices. Any unforeseen event that reduces output or upsets the supply chain has the potential to cause supply shocks.
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Suppose you have $12,000 in the bank and plan to spend $10,000 to buy a car. one opportunity cost of buying the car would be:_________
Consider that you have $12,000 in savings and intend to spend $10,000 on an automobile. The interest you cannot earn on your $10,000 would be the one opportunity cost of purchasing the car.
Define opportunity cost.The benefit that was lost because a particular alternative wasn't selected is known as the opportunity cost.It is critical to weigh the advantages and disadvantages of each choice in order to determine opportunity costs effectively.Opportunity cost is an entirely internal expenditure that is only taken into account for strategic purposes; it is not accounted for in accounting profit and is not disclosed to outside parties.Examples of opportunity costs include deciding not to modernize equipment, choosing the most expensive product packaging over less expensive options, or deciding to develop a new manufacturing facility in Los Angeles rather than Mexico City.To know more about opportunity cost visit:
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A strong brand can be an exceptionally powerful resource for competitive advantage by lowering ________, proxying _____ and inspiring _____.
A strong brand can be an exceptionally powerful resource for competitive advantage by lowering search costs, proxying quality and inspiring trust.
What is mean by Brand?A brand is any attribute that identifies one seller's product or service from that of other sellers, such a name, word, design, symbol, or other feature.Brand acceptance is the degree to which a brand is extensively used by the general public can be referred to as its popularity.Operationally, it is frequently described as a product's market share. The process of giving your company a unique identity in the eyes of your target market and customers is known as branding. A company's logo, visual design, objective, and tone of voice make up its branding at its most basic level.Learn more about brand here:
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Explain ONE reason why it’s important to include financial information in a business plan
Answer:
It is important to include financial information to assist with decision making.
This federal agency presided over all elements of war production from the distribution of raw materials to the prices of manufactured goods.
This federal agency oversaw all aspects of military manufacturing, including the supply of raw materials and the costs of finished items are known as War Industries Board
Federal agencies are specialized government entities created for a particular function, such as resource management, industry financial regulation, or matters of national security.
Between July 1917 and December 1918, the War Industries Board (WIB) was in place to organize and direct American manufacturing by establishing priorities, determining prices, and standardizing goods to aid the country's and its allies' military endeavors. US government organization called the War Industries Board (WIB) was basically established to oversee the procurement of military goods.
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Officers who are responsible for supervising prison inmates in housing areas are called _____.
Correctional Officers (COs) are in charge of keeping an eye on those who have been found guilty of a crime and ordered to serve time in a penal institution.
A prison officer, also known as a corrections officer, is a uniformed member of law enforcement who is in charge of maintaining the safety, custody, and discipline of prisoners. They are in charge of the care, custody, and supervision of those who have been found guilty of a crime and given prison sentences. Along with other law enforcement duties, they are in charge of the facility's and its property's protection. Although some are employed by private organizations that provide jail services to the government, the majority of prison officers or corrections officers are employed by the government of the jurisdiction in which they work.
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In 1903, for the first time in u.s. history, congress passed a law declaring that a person holding a specific political viewpoint could be banned from entering the nation. these were the:____
In 1903, the congress passed a law declaring that a person holding a specific political viewpoint could be banned from entering the nation, these were the anarchists.
Who are the anarchists?These are group of people that holds the theory that is skeptical of the justification of authority and power, they pursues that cluster of doctrines and attitudes centered on the belief that government is both harmful and unnecessary.
The first person to be call an anarchist was the French writer called Pierre-Joseph Proudhon. In his study, he argued that the real laws of society have nothing to do with authority but rather stem from the nature of society itself and he foresaw the eventual dissolution of authority and the emergence of a natural social order.
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When a company's business strategy and technology strategy are intertwined, this situation is known as _______.
When a company's business strategy and technology strategy are intertwined, this situation is known as convergence .
What is Convergence ?
Convergence is the inverse of divergence. It is used to explain the phenomena of the underlying commodity's futures and cash prices growing closer together over time. Most traders use the term convergence to describe the price motion of a futures contract.
In theory, convergence occurs because an efficient market will not permit something to trade for two prices at the same time. Because traders must consider the security's time value, the actual market value of a futures contract is lower than the contract price at issue. As the contract's expiration date approaches, the premium on the time value decreases, and the two values converge.
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While developing a quality business idea, what should potential business founders ideally do after evaluating their personal skill sets?
The potential business founders should ideally do after generally and actually evaluating their personal skill sets Carefully analyze the market and look for a gap.
What is an Business Idea?A business idea is an idea that can be utilized for monetary profit that is generally fixated on an item or administration that can be presented for cash.
An idea is the main achievement during the time spent building an effective business. A business idea is frequently connected to maker necessities to distinguish the business' offer to send off to showcase and lay out upper hand. A business idea is the primary flash of Business.
For businesses, this could mean: making novel ideas, new item advancement through innovative work, or working on existing administrations. Development can be the focal point of a business and this can assist them with developing and become a market chief in the event that they execute their ideas appropriately. Businesses that are centered around advancement are normally more proficient, financially savvy, and useful.
Therefore Effective development ought to be incorporated into the business system, where you can make a culture of development and drive forward innovative critical thinking.
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To serve both buyers and sellers, marketing fundamentally seeks to do which two things?
The main objective of marketing is to meet consumer expectations and desires in a way that benefits both buyers and sellers.
The required details for Marketing in given paragraph
Marketing is the process of discovering, developing, and delivering value to satisfy a target market's needs for goods and services; this may involve choosing a target audience, deciding which qualities or themes to emphasize in advertising, running advertising campaigns, attending trade shows and public events, designing products and packaging that appeal to consumers, and defining the terms of sale.
The seller, who is usually a manufacturer or merchant, is responsible for marketing. A specialized marketing company or advertising agency may be hired on occasion to complete responsibilities.
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The increasingly interconnected nature of the world economy is referred to as _______. multiple choice question.
The term "globalization" refers to the expanding interconnectedness and dependence of global economies and cultures.
Describe globalization.
Connections between people in other nations facilitated by trade, commerce, technology, and transportation are an example of globalization.
The world is now more interconnected than ever because to centuries of technological development and improvements in international cooperation. However, to what extent have American businesses, workers, and consumers benefited or suffered as a result of the expansion of trade and the modern global economy? Based on recent studies, the following is a general overview of the economic aspect of this vast and hotly discussed subject.
Globalization is the term used to characterize the increasing interdependence of the world's economies, cultures, and inhabitants as a result of cross-border commerce in commodities and services, technology, and investment flows
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The management function of specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals is called _______.
The management function of specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals is called planning.
What are SMART Goals?Every sector of business and life uses goals because they give us a sense of direction, drive, clarity, and importance. You give yourself an objective to shoot for by making goals. Setting goals is made easier by using a SMART goal. The letters SMART stand for specific, measurable, attainable, realistic, and timely. In order to help you focus your efforts and improve your chances of success, a SMART goal contains all of these elements.
Smart objectives include:Specific: Clearly defined, unambiguous, and well-articulated.
Measurable: With clear criteria that track your progress toward achieving the goal.
Achievable: Obtainable and not insurmountable.
Realistic: Within your reach, practical, and pertinent to your life's work.
Timely: Having a timeline with a start date and an end date that is clearly specified. Urgency is intended to be created.
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Identify the accounting assumption, principle, or constraint that describes each situation. do not use an answer more than once.
These are the accounting assumption:
Expense recognition principle: Charges are allocated to revenues at the appropriate time.Measurement principle: Changes in fair value that occur after purchase are not reported in the accounting.Full disclosure principle: Requires the reporting of all important financial information.Going concern assumption: Justification for not reporting plant assets at their liquidation value.Economic entity assumption: Recommends that personal and professional records be kept separate.Periodicity assumption: Divides financial data into time periods for reporting reasons.Monetary unit assumption: reported using the dollar as the "measuring stick," according to the monetary unit assumption.Accounting assumptions are a set of guidelines that guarantee an organization's business operations are carried out effectively and in accordance with the standards established by the FASB (Financial Accounting Standards Board), laying the foundation for reliable, consistent, and valuable financial reporting.
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