The corporation will lose the case because a breach of contract is a civil wrong and legal cause of action in which one or more parties to a contract violates the terms of the agreement by breaking their obligations under the agreement or interfering with the performance of the other party.
The four terms of a contract are what?The key elements required for the agreement to be a proper offer and acceptance, adequate consideration, capacity, and legality are mutual assent expressed by them, adequate consideration, adequate consideration, and capacity.
The term "agreement" refers to a written agreement between a party and a third party. A breach could be anything from a missed payment to a more serious transgression, such as failing to deliver an asset that was promised. A contract is valid and enforceable in court.
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before signing a franchise contract, a potential franchisee should obtain the services of which of the following a. an accountant, another franchisee, and a banker b. a union representative, an attorney, and a technical writer c. an attorney, an accountant, and a banker d. a banker, an accountant, and a contract law consultant.
Before signing a franchise contract, a potential franchisee should obtain the services of c. an attorney, an accountant, and a banker. An attorney can help evaluate the franchise contract, explain the details of the agreement, and offer advice on any legal issues. An accountant can help to ensure that all financial aspects of the agreement are fair and equitable. A banker can provide valuable insight into the amount of capital needed to fund the franchise and help secure any necessary financing.
What is a Franchise Contract?
A franchise contract is a legal agreement between a franchisor and a franchisee that outlines the terms and conditions of the franchise relationship. This document describes the obligations and rights of both parties, as well as the terms of the franchise agreement, such as the term of the franchise agreement, royalty and advertising fees, and other details.
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in 2020, jensen trucking reported a net income of $1,060,000, earnings per share on common stock of $5, and dividends on preferred stock of $200,000. if their income tax rate for 2020 was 30% and their payout ratio on common stock was 25%, how much did they pay in cash dividends for common stock in 2020?
The payout ratio is the percentage of earnings that a corporation pays out as dividends to its shareholders. This ratio is determined by dividing dividends paid by net income.
Calculation of Cash DividendWe can now figure out how much Jensen Trucking paid in total for all of their cash dividends for the year by using this result and the amount they paid in dividends on preferred stock.
[tex]Cash dividend to common stock=($1,060,000-$200,000)*25%\\ =$215,000[/tex]
Therefore, the total amount that Jensen Trucking paid in cash dividends in 2020 was $215,500.
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a growth strategy involves expansion of one or more aspects of a business. (true or false)
It is highly appropriate and completely accurate to be mentioning that expansion of one or more aspects of the businesses are involved under a growth strategy. Therefore, the said statement holds true.
A growth strategy can be taken into general sense of understanding as the strategy that has a primary aim of reaching to a goal-oriented position by expanding the scope of operations of the businesses. A growth strategy can aim primarily towards more than one expansion at the same time during the process.
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True or False, suppose that $600 is deposited at the end of every year into an account paying interest of 7% per year. at the end of twelve years the account will be worth approximately $8,944
The statement 'suppose that $600 is deposited at the end of every year into an account paying interest of 7% per year, at the end of twelve years the account will be worth approximately $8,944' is true.
It is a fact that if $600 is deposited at the end of every year into an account paying interest of 7% per year, the account will be worth approximately $8,944 at the end of twelve years. The formula for finding the account balance is given by:
A = P(1 + r)^n + (PMT × ((1 + r)^(n – 1)) / r))
Where A = Account balance, P = Principal amount (initial investment), PMT = Payment made each period, n = Number of compounding periods, and r = Interest rate / number of compounding periods
Substituting the given values, we get:
A = 0(1 + 0.07)^12 + (600 x ((1 + 0.07)^(12 – 1)) / 0.07))
= 0 + (600 x (1.07^(12 – 1)) / 0.07))
= $8944.27
Thus, the account balance will be worth approximately $8,944 at the end of twelve years. Hence, the given statement is True.
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jeremy is writing the employee handbook for his organization. what visual cues could he incorporate to make the document visually complete?
Jeremy can incorporate visual cues into his employee handbook in order to make it visually complete. Visual cues could include diagrams, photos, graphs, illustrations, icons, or tables.
Visual CluesJeremy can incorporate the following visual cues in the employee handbook to make it visually complete:
Bullet points, Headings and subheadings, Bold and italicized text, Graphics and images, Spacing and alignment, Different fonts and sizes these visual cues are designed to capture the reader's attention and guide them through the document. Bullet points are used to break up long paragraphs and make important information stand out. Headings and subheadings make the document easy to navigate and find specific information. Bold and italicized text is used to emphasize key points and make them stand out. Graphics and images help illustrate the information and make it easier to understand.
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Along with experience, a(n) Blank______ approach is particularly important when selecting the right promotional tools because a large number of possible combinations can achieve the same objective.Multiple choice question.a.wait-and-seeb. singularc. analyticald. subjective
The correct answer is c) analytical. An analytical approach is particularly important when selecting the right promotional tools because it allows for careful consideration of all available options.
This approach involves gathering data, analyzing it, and then making a reasoned decision about the best choice for achieving a desired objective.
An analytical approach can help to ensure that all possible combinations of promotional tools are considered and that the best one is selected.
Data can be collected from market research, surveys, and customer feedback to help determine the most effective promotional tools. This data can then be analyzed to identify the most suitable promotional tools.
Additionally, the cost-benefit of each promotional tool can be assessed to determine which combination of tools will offer the most effective results.
Analytical decision making also involves taking into account the wider context in which the promotional tools will be used. This includes understanding the company's budget, target audience, market conditions, and the objectives of the promotion.
By carefully considering all of these elements, an analytical approach allows for an informed decision to be made.
In summary, an analytical approach is particularly important when selecting the right promotional tools as it allows for careful consideration of all available options and ensures that the most suitable combination of promotional tools is chosen.
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which of the following regulate(s) the securities act of 1933? the secretaries of state of all fifty (50) states the new york stock exchange (nyse) and the national association of securities dealers automated quotations system (nasdaq) the securities and exchange commission (sec) the federal trade commission (ftc)
The Securities Act of 1933 is regulated by the Securities and Exchange Commission (SEC).
The Securities Act of 1933 is the federal securities law in the United States. The act was proposed after the stock market crash in 1929 to protect investors from being sold worthless stock certificates by unscrupulous brokers and intermediaries.
The Securities and Exchange Commission (SEC) is a US government agency that is responsible for regulating the securities industry in the United States. The SEC is tasked with ensuring that companies issuing securities to the public comply with federal securities laws. The SEC is also responsible for enforcing securities laws and prosecuting violators of securities laws.
The SEC conducts investigations into allegations of securities fraud, insider trading, and other violations of securities laws. The SEC also regulates the stock exchanges in the United States, including the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotations System (NASDAQ).
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you have $5,200 to deposit. regency bank offers 9 percent per year compounded monthly (.75 percent per month), while king bank offers 9 percent but will only compound annually. how much will your investment be worth in 17 years at each bank?
After 17 years, your investment at Regency Bank will be worth $23,877.81, whereas at King Bank, it will be worth $22,503.69.
Using the formula for compound interest:
For Regency Bank:
Number of periods = 17 years x 12 months/year = 204 months
Interest rate per period = 0.75%
Present value = $5,200
Future value = Present value x (1 + interest rate per period)^number of periods
Future value = $5,200 x (1 + 0.0075)²⁰⁴
Future value = $23,877.81
So the investment will be worth $23,877.81 after 17 years at Regency Bank.
For King Bank:
Number of periods = 17 years x 1 year/year = 17 years
Interest rate per period = 9%
Present value = $5,200
Future value = Present value x (1 + interest rate per period)^number of periods
Future value = $5,200 x (1 + 0.09)¹⁷
Future value = $22,503.69
So the investment will be worth $22,503.69 after 17 years at King Bank.
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Most global firms find it is better to have expatriates rather than local staff at the management positions of their foreign operations because expatriates require less training and development than do the locals.
a. True b. False
Most global firms find it is better to have expatriates rather than local staff at the management positions of their foreign operations is False.
Most global firms find it better to have locals rather than expatriates in the management positions of their foreign operations. According to them, local staff is more acquainted with the culture and norms of the nation and would have a better understanding of local consumers. Since they are already familiar with the place, they may provide the company with a unique perspective and an edge over the competition.
Expatriates, on the other hand, will require considerable training and development to understand the local context and culture. They may not be aware of the cultural and societal implications of their actions and may make poor judgments as a result.
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you are scheduled to receive $13,500 in three years. when you receive it, you will invest it for seven more years at 9.25 percent per year. how much will you have in ten years?
So, after investing the $13,500 for seven years at interest rate of 9.25% per year, you will have a total of $38,577.48 in ten years.
To determine how much you will have in ten years when you receive $13,500 in three years, we need to calculate the future value of the $13,500 when invested for seven years at 9.25% per year, and then add that future value to the $13,500.
We can use the future value formula for a single lump-sum investment:
FV = PV x (1 + r)ⁿ
Where FV is the future value, PV is the present value, r is the interest rate per period, and n is the number of periods.
Using this formula, the future value of $13,500 after seven years at 9.25% per year is:
FV = $13,500 x (1 + 0.0925)⁷
= $25,077.48
Therefore, in ten years, you will have:
Total amount = $13,500 + $25,077.47
= $38,577.48
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matching: 1 . share a place where financial securities are bought and sold 2 . industrial revolution the largest of all american stock exchanges, created in 1792 3 . new york stock exchange started in the mid-19th century; financial emphasis moved from farming to the factory 4 . american stock exchange the formal name of the curb traders; it began in 1908 5 . stock exchange a unit of the equal parts of the capital stock divided by a corporation
Matching:
1. Stock exchange: A place where financial securities are bought and sold.
2. New York Stock Exchange: The largest of all American stock exchanges, created in 1792.
3. Industrial Revolution: Started in the mid-19th century; financial emphasis moved from farming to the factory.
4. American Stock Exchange: The formal name of the curb traders; it began in 1908.5.
Share: A unit of the equal parts of the capital stock divided by a corporation.
What is the meaning of financial securities?Financial securities are evidence of ownership in financial assets or contractual rights to future earnings or asset appreciation. Examples of financial securities include stocks, bonds, futures, options, and swaps.
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what is the outcome of cavallo's reform? group of answer choices domestic life expectancy increases trade protectionism increased inward foreign direct investment joining wto
The outcome of Cavallo's reform was increasing trade protectionism.
Cavallo's reform was a comprehensive economic reformation strategy implemented in Argentina in the late 1980s and early 1990s, with the purpose of stabilizing the country's economy and making it more competitive. The outcome of Cavallo's reform is trade protectionism increased.
Trade protectionism is a term used to describe the policies, laws, regulations, and measures that governments use to protect their domestic industries and economies from foreign competition. Cavallo's reform had a significant impact on Argentina's economy, including the reduction of inflation, an increase in foreign investment, and a rise in GDP. However, it was also controversial, with some criticizing the austerity measures that it imposed on the population. Nonetheless, the overall outcome of Cavallo's reform was a more stable, competitive, and prosperous economy for Argentina.
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Which of the following is one of the 10 strategic operations management decisions?A. process and capacity designB. advertisingC. pricingD. debt/equity ratioE. depreciation policy for tax returns
"Process and capacity design" is one of the 10 strategic operations management decisions. Option A is the correct answer.
Process and capacity design is the decision-making process in operations management that involves creating an efficient workflow and determining the resources necessary to produce goods or services. It is about designing the processes and systems that transform inputs into outputs in a way that maximizes efficiency, quality, and flexibility while minimizing costs. Capacity design is about ensuring that the organization has the appropriate level of resources, such as labor, equipment, and facilities, to meet current and future demand while balancing the costs and risks of over- or under-capacity.
Thus, option A is the correct answer.
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he l.l. bean ad that was shown first in the video was in a newspaper and it included copy, headlines, and other visual components that made the ad stand out. in newspaper advertising, what type of advertising would this be called?
The type of advertising that the LL Bean ad in the newspaper would be called is display advertising.
Display advertising is a form of advertising that includes images, headlines, copy, and other visual components to create an eye-catching and attention-grabbing ad. Display ads can be found in various forms of media such as newspapers, magazines, websites, and social media platforms.
Unlike classified ads, which are typically text-only and categorized by product or service type, display ads are meant to be more visually appealing and are placed strategically throughout the publication to capture the reader's attention. The LL Bean ad is a great example of display advertising because it uses striking images, headlines, and copy.
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natural groceries has a policy of not buying paper products, such as paper towels, from certain companies if they are made with rainforest wood. natural groceries is sending an economic message that it protests deforestation because of severe damage to the environment. this is an example of a .
This is an example of a boycotting policy. As natural groceries is sending a strong message against deforestation and damage which is caused to the environment
What are natural groceries?Natural groceries are food items that are sold in stores that specialize in natural and organic foods. These foods are not manufactured with harmful chemicals or preservatives, but rather they are grown and harvested using sustainable methods. The company's policy of not buying paper products from certain companies if they are made with rainforest wood is an example of a boycotting policy. This policy protests deforestation because of the severe damage it can cause to the environment.
What is the boycotting policy?By not buying paper products from companies that use rainforest wood, Natural Groceries is sending a strong economic message that it protests deforestation and the severe damage it does to the environment.
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if a job listing says we will start reviewing applications on this day, is it okay if i submit late?
While you can still submit your application after the date listed in the job listing, it is best to submit your application as soon as possible to increase your chances of being considered.
It is not advisable to submit your application late if the job listing says the review of applications will start on a particular day. This is because there is a high likelihood that the employer will have received many applications by that time, and they may have already started shortlisting candidates.
Submitting late may, therefore, reduce your chances of getting shortlisted. It is always better to submit your application early enough to give yourself the best chance of getting considered. If you are not able to submit your application on time, it is advisable to contact the employer and explain your situation.
You can explain why you were not able to submit your application on time and request an extension. Employers may grant extensions in some cases, especially if they are not receiving many applications, and they feel that they may miss out on some potentially excellent candidates.
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ford wanted to break into the electric vehicle (ev) marketplace. at that time, economic value was more highly prized than form and function. therefore, ford chose not to compete with the other brands and targeted the high-end market for electric vehicles. which base did ford use to position itself in the market?
Ford used the high-end market base to position itself in the market. Ford wanted to break into the electric vehicle (EV) marketplace. At that time, economic value was more highly prized than form and function. Therefore, Ford chose not to compete with other brands and targeted the high-end market for electric vehicles.
Why high-end market is used?It used the high-end market base to position itself in the market. As per the given question, economic value was more highly prized than form and function. So, instead of competing with other brands, Ford targeted the high-end market for electric vehicles to position itself in the market. By doing so, it aimed to compete with the premium brands and create a premium brand image for itself. In conclusion, Ford used the high-end market base to position itself in the market.
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Companies with high operating leverages generally have lower fixed costs than variable costs. True False.
This given statement is FALSE. Operating leverage refers to the degree to which a company's fixed expenses make up its overall expense structure.
This ratio demonstrates the cost structure of a business and can help investors and analysts understand how changes in sales volume can affect profits. Companies that have a high degree of operating leverage, for example, will see a larger increase in earnings when sales volumes rise than companies with low operating leverage. The higher the operating leverage, the more dependent a company's earnings are on sales volume. Companies with high operating leverage have a higher fixed cost component of total costs.
Variable expenses are smaller in percentage of total expenses than fixed expenses in companies with high operating leverage. This is because as sales rise, fixed expenses stay constant, while variable expenses grow in proportion to sales. The opposite is true for businesses with low operating leverage, which have a lower fixed cost component of total expenses. Variable expenses, on the other hand, are more significant in percentage of total expenses than fixed expenses.
This is due to the fact that when sales increase, variable expenses grow in proportion to sales, while fixed expenses remain constant.
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true or false. your emergency fund should go in your checking account, not a money market account.
your emergency fund should go in your checking account, not a money market account. The statement is false.
It is generally not advisable to keep your emergency fund in your checking account, as checking accounts typically offer very low interest rates and may tempt you to spend the money on non-emergencies. A better option is to keep your emergency fund in a separate account, such as a high-yield savings account or a money market account, that offers higher interest rates and is less accessible for day-to-day spending. This can help ensure that your emergency fund remains available when you need it most. A money market account is a type of deposit account that typically offers higher interest rates than traditional savings accounts, while still allowing limited check-writing privileges.
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Provide the term for the following statement business do not maximise output from the given inputs
Decreasing revenue is the term for the following statement business do not maximize output from the given inputs.
If firms cannot maximize output from given inputs, they are unable to maximize returns from given inputs and thus returns decrease.
Therefore, the term decreasing revenue is the term used when a firm fails to maximize its output from given inputs.
Firms that do not maximize output from given inputs are likely to be inefficient and have economies of scale, which occur when output increases proportionally more than the input invested. Economies of scale are the opposite.
This situation arises from an economic law called the law of diminishing returns. According to this law of economics, there is a point in the production process at which additional units of input do not yield a proportional return. d Output increases proportionally to input.
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Sidise Co. produces computers, which sell for $400 each. A foreign distribution wants to order 1,000 computers at $300 each. Production costs per unit at capacity of 30,000 units are: Direct materials $90 Direct labor 120 Variable overhead 50 Fixed overhead 60 Required A. How much is the relevant cost of producing one more computer? B. What is the effect on profit of accepting the special order?
The relevant variable cost per unit is $260
The relevant cost of producing 1,000 units is $260,000
How to solveA. The relevant cost of producing one more computer can be calculated by adding up the relevant variable costs, which are the costs that will change with the decision to produce one more computer. In this case, the relevant variable costs are the direct materials, direct labor, and variable overhead.
Relevant variable cost per unit = Direct materials + Direct labor + Variable overhead
= $90 + $120 + $50
= $260
Therefore, the relevant cost of producing one more computer is $260.
B. To determine the effect on profit of accepting the special order, we need to calculate the incremental profit, which is the difference between the revenue from the special order and the relevant cost of producing the additional units.
Revenue from special order = 1,000 x $300 = $300,000
Relevant cost of producing 1,000 units = 1,000 x $260 = $260,000
Incremental profit = Revenue - Relevant cost = $300,000 - $260,000 = $40,000
Therefore, accepting the special order would increase the profit of the company by $40,000.
However, it's important to note that accepting the special order may have other implications, such as the potential impact on the company's reputation, long-term profitability, and relationships with other customers.
These factors should also be considered before making a decision.
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A property's real estate taxes are $250 per month, paid at the end of the year. The property is sold and the closing date is May 15. Which of the following options is closest to what the seller's share of the taxes would be?
The option that is closest to what the seller's share of the taxes would be is $1109. (A)
This is because the seller will owe taxes for the portion of the year that they owned the property, which is from January 1 to May 15. To calculate this, first find the total amount of taxes owed for the year: $250 per month x 12 months = $3,000. Then, divide this by 365 days to find the daily rate: $3,000 / 365 = $8.22 per day.
Finally, multiply this by the number of days the seller owned the property: 135 days (January 1 to May 15) x $8.22 per day = $1,108.70. Rounded to the nearest option, this is $1,250.The seller's share of the taxes would be prorated based on the number of days they owned the property.
Since the property was sold on May 15, the seller would owe taxes for the period from January 1 to May 15. To calculate this, first find the total amount of taxes owed for the year, which is $250 per month x 12 months = $3,000 per year. Then, divide this by 365 days to find the daily rate, which is $8.22 per day. (A)
Finally, multiply this by the number of days the seller owned the property, which is 135 days (January 1 to May 15), to get the seller's share of the taxes: $8.22 per day x 135 days = $1,108.70.
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Complete question:
A property's real estate taxes are $250 per month, paid at the end of the year. The property is sold and the closing date is May 15. Which of the following options is closest to what the seller's share of the taxes would be?
A) $1109
B) $1205
C) $1010
D) $1500
Leo Technologies, a software firm, has appointed a team of five members to work on an important project. The project involves the development of a high security program for a client. For the project to be successful, the members need to collaborate. Which of the following steps should the members take to ensure collaboration in the team? The members should be very polite and not say anything critical. The members should provide and receive critical feedback. The members should resist putting forward unpopular ideas. The members should avoid entering into difficult conversations.
"The members should provide and receive critical feedback" to ensure collaboration in the team. Thus, B is correct.
As it helps in identifying weaknesses and strengths, improving communication and making better decisions together.
In a team project, providing and receiving critical feedback is an essential component of effective collaboration. It encourages open communication and helps team members to identify potential areas of improvement.
By giving constructive criticism, team members can share their perspectives and highlight problems that need to be addressed. In turn, receiving feedback can help individuals to identify their strengths and weaknesses and improve their performance.
Moreover, the process of critical feedback helps to build trust, increase motivation, and foster a positive team culture. Thus, by prioritizing constructive criticism, the team can work together more efficiently and effectively to achieve the project goals.
Based on this explanation, B is correct.
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A human resource __________ of an organization reveals the demographic of the firms labor force and whether it is technically up to date an thoroughly trained
Answer:
A human resource inventory of an organization reveals the demographic of the firms labor force and whether it is technically up to date an thoroughly trained
who is the company's auditor? (see the report of independent registered public accounting firm.) what does the report indicate about the amounts reported in the company's financial statements?
The report of the independent registered public accounting firm indicates the auditor of the company. The report also indicates that the auditor has conducted an audit of the company’s financial statements for the period specified in the report.
The report provides an opinion on whether the company’s financial statements are presented fairly in all material respects in accordance with generally accepted accounting principles. It also indicates that the auditor has determined that the amounts reported in the company's financial statements are reasonable and appropriate.
This means that the auditor has assessed the accuracy and integrity of the amounts reported in the company's financial statements and believes them to be a fair representation of the company's financial position.
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If you employer gives you a raise that is equal to the inflation rate, then your real salary will have increased True or False
False. If your employer gives you a raise that is equal to the inflation rate, then your nominal salary will have increased, but your real salary (purchasing power) will remain the same as before.
A measure of inflation is the rise in an economy's total level of prices for goods and services over time. The buying power of money declines when the inflation rate is positive, indicating that the same amount of money can buy fewer products and services. The nominal wage of an employee will grow, or their take-home pay will go up, if their employer provides them a raise that is equivalent to the inflation rate. Yet, their real wage, which measures the income's buying power, will stay the same as it was prior to the boost.
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what is the total revenue if the economic profit is $24,000 and the economic costs are $96,000?
The total revenue in this case would be $120,000, which is the sum of the economic profit ($24,000) and the economic costs ($96,000). This is because economic profit is calculated as total revenue minus total economic costs, so total revenue can be found by adding the economic profit and economic costs together.
Total revenue is the overall income generated by a business from its sales of goods or services. Economic profit, on the other hand, is the profit remaining after subtracting both explicit and implicit costs from total revenue. In this case, the economic profit is given as $24,000, and the economic costs are given as $96,000. To find the total revenue, we can use the formula for economic profit, which is:
Total revenue = Economic profit + Economic costs
Substituting the values given, we get:
Total revenue = $24,000 + $96,000
Total revenue = $120,000
Therefore, the total revenue for this business is $120,000.
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Total revenue is calculated by adding economic costs and economic profit. In this case, the sum of economic profit ($24,000) and economic costs ($96,000) gives us the total revenue which is $120,000.
Explanation:In the context of economic profit, total revenue is calculated by adding the economic profit to the economic costs. If your economic profit is $24,000 and the economic costs are $96,000, you can sum up these two figures to determine the total revenue.
Therefore, Total Revenue = Economic Profit + Economic Costs.
By substituting the given values into the equation, we get Total Revenue = $24,000 (Economic profit) + $96,000 (Economic costs). Hence, the total revenue would be $120,000.
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summarize the internal control procedure of maintaining adequate records by selecting the correct answers below. (check all that apply.) multiple select question. a. keeping detailed records makes it unlikely that assets are lost or stolen without detection. b. reliable records are a source of information that managers use to monitor activities. c. bonding employees reduces the risk of loss. d. dividing responsibility for related transactions reduces the occurrence of recordkeeping errors.
The internal control procedure of maintaining adequate records involves several steps that businesses follow. The objective is to ensure that the financial statements are free from errors and frauds.
Some of the steps involved in this process include keeping detailed records, reliable records, bonding employees, and dividing responsibility for related transactions.
Detailed records : Detailed records refer to financial records that provide a comprehensive view of a business's operations. Keeping detailed records makes it unlikely that assets are lost or stolen without detection. For instance, a business can maintain detailed records of inventory items that include the item's purchase date, cost, and sale price. Reliable records: Reliable records are a source of information that managers use to monitor activities. These records ensure that transactions are appropriately recorded and that financial statements accurately reflect a business's operations.
Bonding employees: Bonding employees reduces the risk of loss. Bonding is a process where a business purchases an insurance policy that compensates for the loss of assets due to employee theft. It is an effective way of protecting a business's assets from internal theft.
Dividing responsibility for related transactions: Dividing responsibility for related transactions reduces the occurrence of recordkeeping errors. It involves assigning different employees to perform different functions to ensure that no one person controls a transaction from start to finish. This system allows for multiple people to be involved in a transaction and creates a system of checks and balances. Thus, ensuring that errors are detected and corrected before financial statements are prepared.
In conclusion, the internal control procedure of maintaining adequate records involves keeping detailed records, reliable records, bonding employees, and dividing responsibility for related transactions. These measures are crucial in ensuring that financial statements are free from errors and frauds.
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In free-market economies, ____ must decide how rivals can collaborate with their competitors without violating established regulations. the government.
In free-market economies, the government must decide how rivals can collaborate with their competitors without violating established regulations.
A free-market economy is an economic system in which the prices of goods and services are regulated by supply and demand, without any government intervention. It's also known as capitalism or laissez-faire economics. The government's role in a free-market economy is minimal. The government's primary responsibilities include ensuring that all parties in the marketplace adhere to a set of fundamental rules, such as intellectual property rights and prohibitions against fraud and theft.
Additionally, the government ensures that consumers are protected from dangerous or defective goods, and the country's infrastructure is kept in good working order. The government must also decide how rivals can collaborate with their competitors without violating established regulations.
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An electronic exchange is an electronic forum where manufacturers, suppliers, and competitors buy and sell goods, trade market information, and run back-office operations.True False
The given statement, "An electronic exchange is an electronic forum where manufacturers, suppliers, and competitors buy and sell goods, trade market information, and run back-office operations," is true (T) because it is a digital platforms that enable all that was mentioned.
Electronic exchange enable buying and selling of goods, sharing of market information, and facilitating back-office operations. Electronic exchanges have revolutionized the way businesses buy and sell goods by providing a more efficient and transparent way to conduct transactions. These exchanges allow manufacturers, suppliers, and competitors to interact and trade goods in a centralized platform.
Moreover, electronic exchanges provide real-time market information and analytics, allowing traders to make informed decisions. They also offer various tools and functionalities, such as electronic order matching, risk management, and settlement services, which streamline back-office operations.
Overall, electronic exchanges have transformed the way businesses trade goods and services, leading to increased efficiency and cost savings.
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