Answer:
A flexible expense is a type of business expense that can vary in amount from one period to the next.on the other hand Periodic expenses, on the other hand, are expenses that occur on a regular basis
Explanation:
A flexible expense is a type of business expense that can vary in amount from one period to the next. These expenses are typically not fixed and can be adjusted based on the needs of the business.
Periodic expenses, on the other hand, are expenses that occur on a regular basis, but not necessarily at the same intervals. These expenses may be fixed or variable in amount, and they may be related to the operation of the business or to the personal needs of the owner.
While both flexible expenses and periodic expenses can vary in amount, they are not necessarily the same thing. Flexible expenses are typically discretionary expenses that can be adjusted based on the needs of the business, while periodic expenses are more predictable and may be necessary for the operation of the business.
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Communication which occurs via small
group discussion would fall under which
category?
A. synchronous
C. horizontal
B. a synchronous
D. vertical
Answer: A. synchronous
Explanation: Communication that occurs via small group discussion would fall under the category of synchronous communication. Synchronous communication refers to a type of communication that occurs in real-time, such as a conversation or a meeting. It involves people interacting with each other at the same time, rather than asynchronously, where people communicate at different times.
Which do you think is the best interest when you save money? Explain your answer.
When saving money, the best interest would be A. Based on financial goals and risk tolerance.
What determines the best interest when saving money ?The best interest when saving money will depend on the individual's financial goals and risk tolerance. Generally speaking, the best interest rate on savings accounts is the one that offers the highest return on investment while also being safe and accessible.
It's important to keep in mind that the best option will depend on the individual's financial goals, risk tolerance, and the amount of money they have to save. For short-term goals, a high-yield savings account or a CD may be the best option. For longer-term goals, an investment in bonds or money market funds may be more appropriate. Consult with a financial advisor or a professional before making any decision.
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Options for this question include:
Based on financial goals and risk tolerance. Based on the amount of money to be madeBased on the location of the investment2. Elastic goods are based on what consumers want, rather than something that they need to survive. Which of the following is an elastic good?
Osoda pop
water
O an apartment
medicine
Elastic goods or services are those for which demand fluctuates in response to price fluctuations. Consumers who are able and ready to easily shift their purchasing patterns in reaction to price fluctuations are said to be elastic consumers.
Examples of elastic goods:Examples of elastic products include:Soft drinks, like soda pop, are easy for consumers to adapt their consumption based on changes in price or availability because they are not essential for living. Apartments are not necessities for survival, and people can choose where to live depending on a variety of reasons, including price, location, and other considerations.Items like the ones listed below are not elastic goods:Water is a commodity that people will continue to buy even if the price goes up because it is necessary for survival. Because medicine is necessary for preserving health, people will continue to use it even if the cost rises.To know more about elastic goods, refer:
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mention the different types of industries
Answer: There are basically three types of industries present in the different businesses I the nation for it's economic development. They are as follows :
1. Primary Industries
2. Secondary Industries
3. Tertiary Industries
Explanation: Now, let’s have a look at the three different types of industries in detail.
Primary Industries
Primary industry includes the economy that uses natural resources from the environment such as forestry, agriculture, fisheries and mining.Usually, this particular sector is considered the most crucial in developing countries and is relatively smaller in developed countries.
For developing countries, primary industry is typically the largest sector, such as livestock in Africa.Similarly, Wales as a whole is mainly dependent on mining and is the major source of the economy. It is the only sector where all of Wales can survive.
Secondary Industries
The secondary industry consists primarily of the construction and manufacturing industries. This industry generally uses products from the primary industry to create many other utilitarian products and also for their sales and exports.Many of these industries produce a great deal of waste that can lead to significant environmental problems and pollution.
Tertiary Industries
The tertiary industry mainly consists of the service sector. It typically involves multiple activities in which employees contribute their expertise and knowledge to improve productivity, potential, performance and sustainability.The most prominent feature of the tertiary sector is the production of multiple natural services including advice, mentoring, experience, access and discussion.Services also include the distribution, transportation and sale of goods through various channels from manufacturers to consumers.
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What is usually the best way to display date if you have more than 10 results? a. bar graph, b. pie chart, c. line graph, d. none of the above
The best way to display data if you have more than 10 results is usually a bar graph (a).
A bar graph is a chart that uses horizontal or vertical bars to show comparisons among categories. It is a useful tool for visualizing data and comparing values across different categories.
For example, if you have data on the number of people who prefer different types of music, you could use a bar graph to show the relative popularity of each type of music. The bars in the graph would represent the number of people who prefer each type of music, and the height of the bars would correspond to the number of people.
Bar graphs are effective for displaying data when you have more than 10 results because they allow you to easily compare the values of different categories at a glance. They are also easy to read and understand, making them a popular choice for presenting data.
Option b, pie chart, is not usually the best way to display data if you have more than 10 results because pie charts can become cluttered and difficult to read when there are too many slices.
Option c, line graph, is not usually the best choice for displaying data with more than 10 results because line graphs are better suited for showing trends over time rather than comparing values across different categories.
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A 10-K financial report includes which
of the following financial statements?
A. Record Sheet
B. Balance Sheet
C. Employee Sheet
10-K financial report includes which of the following financial statements: Balance Sheet, Income Statement (also known as Profit and Loss or P&L statement), Cash Flow Statement, Footnotes to the financial statements.
What does a 10-K financial report include?The balance sheet, sometimes referred to as the statement of financial position, gives an overview of the assets, liabilities, and equity of a corporation at a certain point in time.
The income statement, commonly referred to as the profit and loss statement, details the revenues and expenses incurred by a business during a specific time period and displays the business's net income or loss.
The cash flow statement gives details on a company's cash inflows and outflows and gives a general picture of how a company generates and uses cash over a given time period.
The part called Footnotes to the Financial Statements contains extra information on the Financial Statements that the reader might find useful.
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explain the two types of tertiary production
In economics, the types of tertiary production is categorized into:
Personal servicesBusiness services.What does tertiary production entails in the field?Tertiary production refers to the service sector of an economy, and it can be divided into two types:
Personal services: This type of tertiary production includes services that are directed at individuals and families, such as healthcare, education, and personal care services.Business services: This type of tertiary production includes services that are directed at businesses and organizations, such as financial services, consulting, and legal services.As well, personal services tend to be more labor-intensive and face-to-face, while business services tend to be more technology-intensive and impersonal. Both types of tertiary production are important for the functioning of an economy and the well-being of its citizens.
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In 1999, the population of a country was 273,401,000. Of these, 16 million suffered from diabetes (and hence could not consume regular ice cream) and 30 million were lactose intolerant (and hence could not eat ice-cream). On average, consumption per person is 46.6 pints per year. The average price per pint in 1999 was $3.19. What is the market potential in (a) units and (b) dollars? ($ is used as a general unit of currency)
The market potential in units was approx 10.59 billion. The market potential in dollars was approx 33.8 billion.
What is the market potential?The assessment of a market's sales revenue across all of its supply channels is known as its market potential. The population that is engaged in the good or service that a company produces or makes available is known as the market potential. In other terms, a company's market potential is its potential to make money if all of its advantages are capitalized and everything goes according to plan. Typically, it is expressed in terms of sales volume, sales units, or potential income. It is a portion of the whole population, with market potential being the entire number of people who could potentially use the good or service.
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Entities such as offer certifications and qualifications in accounting that will help increase your future earning potential, deepen your knowledge, and enhance your credibility in the field.
There are numerous other professional associations, such as the institute of management, accountants, and American association of finance and accounting .
What is certifications and qualifications in accounting ?So joining one of these organisations can help you improve your knowledge, raise your standing in the accounting community, and increase your earnings in the future.
In the United States, the CPA licence is the most widely used accounting credential for positions in accounting and finance. Your proficiency in tax, compliance, risk management, forensic accounting, and other fields is recognised by this accreditation.
A well-known accounting certification can help you get work, boost your marketability, and give you and your company professional credibility in a cutthroat industry.
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Anastasia is a principal who is responsible for telling one of her teachers that the school will be cutting her Spanish program in the fall. She has been friends with this teacher for years and knows that the teacher will be very upset. What is the most appropriate communication channel for Anastasia to choose to share this news with the teacher in this scenario?
Question 2 options:
She should send the teacher a formal, typed letter.
She should talk to the teacher face-to-face.
She should send the teacher a text message.
She should post the news on the school website.
Answer she should talk to her face to face
Explanation:
if she respects this woman that is the best way to keep it
If $3,000 is invested at 7% for 6 months, how much simple interest is earned? a. $105.00, b. &150.50, c. $180.00, d. $210.00
The answer is d. $210 is wrong
Answer: A = $3,105.00 I = A - P = $105.00, hence the simple interest is $105.00.
Simple interest calculationGiven DataPrincipal = $3,000
Rate = 7%
Time = 6 months
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year.
Putting time into years for simplicity,
6 months / 12 months/year = 0.5 years.
Solving our equation:
A = 3000(1 + (0.07 × 0.5)) = 3105
A = $3,105.00
The total amount accrued, principal plus interest, from simple interest on a principal of $3,000.00 at a rate of 7% per year for 0.5 years (6 months) is $3,105.00.
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Comprehensive Problem- Chapter 4 Bas Baladi for the marketing of cooperative agricultural products is a company based in Ramallah. It operates two separate major divisions: Organic Food division, and Beverage division. On December 31, 2021, Bas Baladi had $327,000 operating Income. Required: a) Based on the below information (A-G). Use the following format to prepare the statement of comprehensive income. (Assume the tax rate is 20%) Note: Some of the items provided will not affect the statement of comprehensive income. A During 2021, the entity discovered that there's an error in the calculation of pension expense for 2020. The error overstated income before tax by $17,000. B Flood in Ramallah's farmland caused the company a loss of $11,000. They received insurance coverage of $6,500. Assume floods are common in Ramallah. C Bas Baladi decided to dispose of the Beverage division at the beginning of 2021. The Beverage division recognized a loss from operations of $150,000 before tax for the year ended 31 December 2021. The division was sold for $1,000,000, while the carrying value of the division's assets was $900,000. D In 2020 Bas Baladi purchased 10,000 shares of Padico stock at $1.2 per share. The stocks were categorized as a trading security. During 2021, the company received cash dividends of $0.05 per share. E Until 2021, the company has used weighted average, and on January 1, 2021. It has decided to switch to FIFO. The cumulative effect of this change is $60,000 before tax. F. The company suffered a $10,000 loss before tax from foreign currency translation of its subsidiary's financial statements. G Minority interest in net income amounted to $22,480.
Answer:
Explanation:
Statement of Comprehensive Income
For the year ended December 31, 2021
Net income:
Operating income $327,000
Adjustment for error in pension expense (17,000)
Loss from flood (4,500)
Loss from disposal of Beverage division (150,000)
Gain from sale of Beverage division 100,000
Cumulative effect of change in accounting principle (60,000)
Loss from foreign currency translation (10,000)
Total comprehensive income $131,000
Tax Expense (20%* $131,000) $26,200
Net income after tax $104,800
Minority interest in net income $22,480
Net income attributable to owners $82,320
Note:
-A: Error in pension expense, overstated income before tax by $17,000
-B: Flood in Ramallah caused a loss of $11,000, Insurance coverage received $6,500
-C: Beverage division recognized a loss from operations of $150,000 before tax, The division was sold for $1,000,000, Carrying value of the division's assets was $900,000
-D: Purchased 10,000 shares of Padico stock at $1.2 per share, classified as trading security, received cash dividends of $0.05 per share
-E: Change in accounting principle from weighted average to FIFO, cumulative effect $60,000 before tax
-F: Loss from foreign currency translation of subsidiary's financial statements $10,000
-G: Minority interest in net income $22,480
It's worth noting that the above statement is showing the comprehensive income, which is an important way of presenting the financial results of a company, as it includes all the transactions and events, whether or not they are included in the company's net income, or whether or not they are reported in the company's statement of financial position.
How do strong information literacy skills impact academic or professional career
take a look at the figure. The basic shape of the body of the lamp shown is a A. cylinder. B. pyramid. C. cone. D. sphere.
The basic shape of the body of the lamp shown is the cone. A cone is formed by a set of line segments, half-lines, or lines connecting a common point.
What is a cone?The cone in the shape of the figure is a three-dimensional geometric shape. That smoothly forms a flat base to a point called the apex or vertex. A cone is formed by a set of line segments, half-lines, or lines connecting a common point, the apex. the points on a base that is in a plane that does not contain the apex.
A cone refers that a shape consisting of a circular base and the once continuous curved base tapering to a point (the apex) above the center of the circular base.
Therefore, The lamp shown is the cone. A cone is formed by a set of line segments
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Which of the following social media options is best for a company wishing to present more of a "story" of the business, one that is less factual but more emotional?
Microblogging
Photo sharing
Text or email
Video sharing
Video sharing, of the following social media options is best for a company wishing to present more of a "story" of the business, one that is less factual but more emotional. Thus, option (d) is correct.
What is business?The most of the business are the used this extemporaneous style of speaking is chance to the employer and employee to the participation of the answering the question about the current project and business policies.
According to the social media is a term used to describe online communication. Social media systems enable users to have discussions, exchange information, and create content for the internet. The business was the improved as the emotional story to the share as the best choice was the video sharing.
As a result, the video sharing is the best option. Therefore, option (d) is correct.
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1. If the consumption function is C = 100 + 0.75Y, I = 300, Tax (T)= 400 and government spending (G) is 600, what will be the equilibrium level of output? Demonstrate your answer with a Keynesian cross diagram. What happens to aggregate output if government spending (G) and Tax (T) rises by 200?
Answer:
Explanation:
The consumption function C = 100 + 0.75Y represents the relationship between consumption and disposable income, where C is consumption and Y is disposable income. The equation tells us that for every dollar of disposable income, consumers will spend 75 cents on consumption.
The equilibrium level of output is determined by the intersection of the aggregate demand (AD) and aggregate supply (AS) curves. The AD curve can be derived by adding together the planned consumption, planned investment, planned government spending and planned net exports. In this case, we have:
AD = C + I + G + NX = C + 300 + 600
The aggregate demand equation becomes AD = 100 + 0.75Y + 300 + 600
The aggregate supply equation represents the relationship between the quantity of goods and services produced and the price level, assuming a fixed level of technology and input prices. For this problem, we are assuming that aggregate supply is perfectly inelastic, meaning it does not change with price level.
Given that G = 600 and T = 400, disposable income will be Y = T + Tr(Y-T) = 400 + 0.8(Y-400)
Therefore, we have the equations:
AD = 100 + 0.75Y + 300 + 600
Y = 400 + 0.8(Y-400)
We can now solve for Y by substituting the second equation into the first:
100 + 0.75(400 + 0.8(Y-400)) + 300 + 600 = Y
Solving for Y, we find that the equilibrium level of output is Y = 2200.
In a Keynesian cross diagram, this point would be represented by the intersection of the AD and AS curve.
If government spending (G) and Tax (T) rises by 200, the AD curve shifts to the right. This means that the aggregate demand for goods and services is increasing, which causes an increase in the equilibrium output. The new equilibrium output (Y) will be greater than 2200 and can be found by solving for the new AD function. With the new AD function, the new output Y can be found by using the same steps that you have done above.
It's worth noting that in the above scenario, We are assuming that the aggregate supply is perfectly inelastic, this means that the price level is constant, if the aggregate supply is elastic, then an increase in AD will also lead to an increase in price level, this is known as inflation, which will affect the value of Y.
Using the following information about the family’s assets and liabilities, calculate the debt ratio: Checking account: $3,000 Savings account: $13,000 Credit card balance: $5,500 Utility bill: $500 Home: $320,000 Mortgage (30 years): $210,000 Car: $25,000 Car loan (60 months): $18,000 Student loan (7 years): $25,000 Household items: $15,000 Retirement account: $64,000 Other assets: $39,000
Based on the various assets and liabilities that the family has, the debt ratio can be calculated to be 54.1%.
How is the debt ratio calculated?The debt ratio can be calculated as:
= Total debt / Total assets
Total debts
= Credit card balance + Utility bill(Car loan (60 months) + Student loan (7 years)
Total assets
= Checking account + Savings account + Home + Car + Household items + Retirement account + Other assets
= (5,500 + 210,000 + 180,000+ 25,000) / (3,000 + 13,000 + 320,000 + 25,000 + 15,000 + 64,000 + 39,000)
= 258,500 / 479,000
= 54.1%
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Using complete sentences, explain how a business can improve productivity,
and why productivity is so important to businesses?
There are many ways that a business can improve productivity. Some common strategies include:
Streamlining processes and eliminating unnecessary steps.Investing in technology and automation to reduce the time and effort required for certain tasks.Providing training and development opportunities to employees to improve their skills and efficiency.Setting clear goals and expectations for employees, and providing feedback on their performance.Productivity is important to businesses because it directly affects the bottom line. When a business is able to produce more goods or services in the same amount of time, it can reduce costs and increase profits. Productivity is also important for staying competitive in the market, as businesses that are able to produce more efficiently are able to offer lower prices to customers. In addition, improving productivity can help businesses to grow and expand, by allowing them to take on more work and increase output.
Thomas’ family also runs a gourmet food store that sells two main products: Premium Caviar and Goose Foie Gras. They import the Premium Caviar from Russia, and purchase Goose Foie Gras from Upstate New York. The two products are sold in boxes. Thomas gathers the following information:
When Thomas took accounting courses at college, he knows how to do cost-volume-profit analysis pretty well. However, he just remembers how to do the analysis for those companies with only one product. Therefore, he needs your help to calculate the following:
a. What is the business’ weighted-average contribution margin per unit? (show your computation)
b. Calculate the business’ break-even point in units assuming the current sales mix. (show your computation)
c. What will be the number of Premium Caviar and Goose Foie Gras boxes at the break-even level of sales? (show your computation)
d. What is the business’ weighted average contribution margin ratio? (show your computation)
I have it completed... just need to check my work. I would appreciate a response as soon as possible.
a.
Premium Caviar:
Selling price per unit: $50
Variable cost per unit: $25
Contribution margin per unit: $50 - $25 = $25
Goose Foie Gras:
Selling price per unit: $30
Variable cost per unit: $15
Contribution margin per unit: $30 - $15 = $15
How to determine the weighted-average contribution?To determine the weighted-average contribution margin per unit, we need to know the sales mix (the proportion of total sales for each product). Let's assume that the sales mix for Premium Caviar and Goose Foie Gras is 50:50, so half of total sales are for Premium Caviar and the other half for Goose Foie Gras.
The weighted-average contribution margin per unit is calculated by multiplying the contribution margin per unit for each product by the proportion of sales for that product, and then summing those values.
Weighted-average contribution margin per unit = (Contribution margin per unit for Premium Caviar x Proportion of sales for Premium Caviar) + (Contribution margin per unit for Goose Foie Gras x Proportion of sales for Goose Foie Gras)
= ($25 x 0.50) + ($15 x 0.50) = $20
To calculate the break-even point in units, we need to know the total fixed costs of the business. Let's assume that the total fixed costs are $100,000.
The break-even point in units is calculated using the following formula:
Break-even point in units = Total fixed costs / Contribution margin per unit
= $100,000 / $20 = 5000 units
c. To calculate the number of Premium Caviar and Goose Foie Gras boxes at the break-even level of sales, we need to know the sales mix. We can use the sales mix we assumed earlier (50:50) and multiply it by the break-even point in units:
Premium Caviar boxes = (Break-even point in units x Proportion of sales for Premium Caviar) = (5000 x 0.50) = 2500 boxes
Goose Foie Gras boxes = (Break-even point in units x Proportion of sales for Goose Foie Gras) = (5000 x 0.50) = 2500 boxes
To calculate the weighted average contribution margin ratio, we need to divide the weighted-average contribution margin per unit by the weighted-average selling price per unit.
Weighted-average selling price per unit = (Selling price per unit for Premium Caviar x Proportion of sales for Premium Caviar) + (Selling price per unit for Goose Foie Gras x Proportion of sales for Goose Foie Gras)
= ($50 x 0.50) + ($30 x 0.50) = $40
Weighted-average contribution margin ratio = Weighted-average contribution margin per unit / Weighted-average selling price per unit
= $20 / $40 = 0.50 or 50%.
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Who collects income tax that is payable to the federal government?
Income tax that is payable to the federal government is collected by the
.
Answer:
Explanation:
Internal Revenue Service (IRS). The IRS is a federal agency within the U.S. Department of Treasury that is responsible for enforcing the federal tax laws and collecting taxes from individuals and businesses. The IRS also provides taxpayers with guidance on their tax obligations and assists them with filing their taxes.
It is responsible for ensuring compliance with the tax laws and enforcing penalties if individuals or organizations fail to pay the taxes they owe. Additionally, the IRS provides taxpayer services to assist individuals and businesses with understanding and meeting their tax obligations.
Note that common skills are listed toward the top and less common skills are listed toward the bottom. According to O*NET, what are some common skills needed by Registered Nurses? Check all that apply.
coordination
social perceptiveness
active listening
equipment selection
equipment maintenance
installation
there is a complementarity between passenger and freight transport system. with some exceptions, such as busses and pipelines, most transport modes have developed to handle both freight and passenger traffic. in some cases both are carried in the same vehicle and in some cases the different modes join to deliver a complete service. what are the advantages of joint operations?
Some of the advantages of the joint operations are:
access to new markets and distribution networks.increased capacity.sharing of risks with a partner.access to new knowledge and expertiseaccess to greater resources etc.What does joint operations means in transportation?In transportation, joint operations typically refers to the coordination and cooperation between multiple transportation providers or agencies in order to provide more efficient and comprehensive service to customers.
This can include sharing resources, coordinating scheduling and routing, and cooperating on marketing and fare structures. This operations can take many forms, such as partnerships between bus and rail companies, or between public and private transportation providers.
The main goal of this operation is often to provide more seamless and convenient transportation options for customers, and to make more efficient use of resources.
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The difference between a business's revenues and its expenses is known as its _______.
Answer:
Net income,
also known as the bottom line, is revenues minus expenses. There is a profit when revenues exceed expenses.
Which type of agreement does Ronald plan to sign?
Ronald is a first-time entrepreneur. He wants to raise finance for his new business. He does not have any past record of paying off a debt. He has decides to sign a ______
agreement with a bank to get a loan.
The agreement will allow the bank to recover the loan amount by claiming Ronald’s property, personal assets, and investments if he fails to pay off the debt.
Ronald is a first-time entrepreneur. He wants to raise finance for his new business. He does not have any past record of paying off a debt. He has decides to sign a written agreement with a bank to get a loan.
What is a business?A business can be referred to as an organization or enterprising entity that engages in professional, commercial or industrial activities. There are different types of businesses like sole proprietorships, partnerships, corporations, and more.
The businesses are basically work for profit motive. Businesses can be small-scale or large-scale. Some of the biggest businesses in the world are Amazon and Walmart.
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5. When are government intervention or government regulations beneficial to consumers?
O when they impose regulations on businesses that limit profits
O when they limit consumer choices by regulating goods sold by private firms
O when they limit the number of businesses permitted to open and sell goods to consumers
O when they impose safety regulations that determine how bicycle helmets are manufactured
They impose regulations on businesses that limit profits as the government intervention or government regulations beneficial to consumers. Thus, option (a) is correct.
What is government?The term “government” refers to the legal authority of the country. The government manages to control, command, and handle the country. The government's first priority is to ensure citizens are safe in the country.
According to the rule of the government was the based on the share the profit to the government as per the taxes. The business was the developed to pay the tax to the government to the set as limit of the profit.
As a result, the regulation as the limit of the profit as the set. Therefore, option (a) is correct.
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Communication which occurs via staff meeting would fall under which
category?
A. horizontal
C. vertical
B. a synchronous
D. Synchronous
Synchronous communication is the category that would best describe communication which occurs via staff meeting.
What is Synchronous?Synchronous communication is a type of communication that occurs in real-time. It is a two-way process in which both parties involved must be present and actively participating in order for information to be exchanged. The exchange of information is immediate and occurs at the same time; there is no lag time or waiting period.
Synchronous communication is when two or more people are communicating at the same time, such as in a meeting or face-to-face. Horizontal communication is when communication occurs between people at the same level in an organization, while vertical communication is communication between people at different levels in an organization.
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Question Content Area Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issued $21,000,000 of five-year, 9% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 11%, resulting in Chin receiving cash of $19,417,090.
The bonds were issued at a market (effective) interest rate of 11%, resulting in Chin receiving cash of $19,417,090.The journalize entries to record the issuance of the bonds.
What is market?In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange
Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced.
Market participants consist of all the buyers and sellers of a good who influence its price, which is determined by the market forces of supply and demand.
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the graph at right shows the situation after the u.s. removes a tariff on imports of canned tuna.
A. C.
B. A+B+C+D.
C. A.
D. B+C+D.
Which area shows the loss in producer surplus?
A. B+C+D.
B. A+B.
C. A.
D. A+B+C+D.
Which area shows the loss in government tariff revenue?
A. A.
B. C.
C. A+B+C+D.
D. B+C+D.
Which areas show the reduction in deadweight loss?
A. B+C+D.
The graph that shows the situation when the U.S. removes a tariff on imports of canned tuna shows that the gain in consumer surplus is B. A+B+C+D.
The area which shows the loss of producer surplus is C. A.
The area which shows the loss in government tariff revenue is B. C.
The area showing a reduction in deadweight loss is B+D.
What happens when a tariffs are lifted ?When a tariff is lifted, the price of the good or service usually decreases, which increases consumer surplus. Consumers are able to purchase the same goods and services for a lower price, which results in a larger consumer surplus.
The price of the good or service usually decreases, which decreases producer surplus. Producers receive a lower price for the same goods and services, which results in a smaller producer surplus.
The government no longer receives revenue from that tax. Therefore, government revenue decreases when a tariff is lifted. The market becomes more efficient as the price of the good or service decreases, this leads to a decrease in deadweight loss.
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analyze transaction using t-account:
She invested cash of P500,000 and Furniture
and Fixtures of P175,000.
Effects of transactions:
Dr. Pajanustan invested cash and furniture and fixtures to start the consultancy firm.
The firm purchased a computer, office supplies, accounting software, and equipment, incurring both cash payments and credit.
The firm provided tax services and seminars, earning cash.
The firm paid for staff salaries, rent, utilities, and personal withdrawals by the owner.
The firm made payments on credit purchases and received payments from clients on credit.
The firm incurred expenses for supplies and returned defective furniture.
Copy clear format:
The transaction details are provided in a clear and organized manner.
T-Account:
T-accounts are a visual representation of individual account balances, showing debit and credit entries.
For example, the account for Cash would have debit entries for payments made and credit entries for cash received, resulting in a final cash balance.
Similarly, accounts for accounts payable, accounts receivable, and owner's equity would reflect the changes in their balances due to the transactions.
Journal Entries:
Journal entries are the recording of the transactions in a company's books of accounts, typically in a general journal.
Each transaction would be recorded as a debit to one account and a credit to one or more accounts, depending on the nature of the transaction.
Posting to the Ledger:
Posting to the ledger is the process of transferring the journal entries to the individual accounts in the ledger.
The ledger is where all the account balances are recorded and updated.
The ledger account would be updated with the debit and credit entries from the journal entry, resulting in an updated account balance.
Trial Balance:
A trial balance is a listing of all the accounts and their balances, used to ensure that the total debits equal the total credits.
A trial balance provides assurance that the entries made in the general ledger are mathematically accurate, and can be used to identify errors.
Income Statement:
An income statement, also known as a profit and loss statement, presents the revenues and expenses of a company over a certain period of time, typically one month or one year.
The difference between the revenues and the expenses gives the profit or loss of the company for that period of time.
It is important to note that this information provided is based on the given transactions, and may not reflect the actual process of journal entries, posting to ledger, trial balance, and income statement. Also, to generate a specific financial statement, further classification and adjustments entries would be need it to be done.
3. Discuss clearly each authors/contributors theories/principles/assumptions.
Authors are writers of a book or piece or writing.
Contributors give money or some form of wealth to a cause they are contributing to.
Theories are not considered facts but are based off of thoughts.
Principals are like guidelines to doing something in a better or good way. Assumptions are thinking that something is a certain way even though you may not have any evidence to support that.
What is functionalism social stability?Functionalism social stability has been known as the key to have a strong society, and adequate socialization and social integration are necessary to achieve social stability. Conflict theory society is full of pervasive inequality based on social class, gender, and other factors.
The theory, functional theory for instance, can be used to understand it by knowing that Society’s social institutions perform important functions to help ensure social stability. The essence of such show is to bring about social stability
Conflict theory can help understand that far-reaching social change is needed to reduce or eliminate social inequality and to create an egalitarian society while functional theory is used to understand the show for social stability, the other theory, conflict theory, us used to bring about social equality.
Therefore, Authors are writers of a book or piece or writing.
Contributors give money or some form of wealth to a cause they are contributing to.
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