Answer:
Consumerism is a way of life in which the regular purchase of secondary goods, in which the social value of the product and its influence on social status and identity plays a huge role in society and everyday life.
The term originated with the rise of the consumer society in the twentieth century. Where previously the market was supposed to regulate itself, this did not always work sufficiently, so that consumers began to unite in consumer movements and consumer organizations. Consuming is then seen as a right, a right that is defended to the extreme. In addition, consumerism is also seen as good for the economy and therefore worth pursuing, as it keeps economy working.
In this sense, the fact of operating within the framework of the consumer society in a responsible, wise and meticulous way matters that individuals do not relapse into behaviors that put their financial situation in trouble.
XYZ Co. purchased merchandise on June 10 at a $5,000 invoice price with terms of 2/10, n/30 and paid for the merchandise on June 25. Illustrate the required entries to record and pay for this purchase under both the gross method and the net method by matching the action on the left with the method on the right. (Assume a perpetual inventory system is used.)
Answer:
Credit Cash for $5,000 on June 25.: Both methods
Credit Cash for $4,900 on June 25.: Neither method
Debit Discounts lost for $100 on June 25.: Net method
Debit Merchandise inventory for $5,000 for June 10.:Gross method
Explanation:
Based on the information given the required entries to record and pay for this purchase under both the GROSS METHOD and the NET METHOD by matching the action on the left with the method on the right will be :
Credit Cash for $5,000 on June 25.: BOTH METHODS
Credit Cash for $4,900 on June 25.: NEITHER METHOD
(100%-2%*$5,000)
Debit Discounts lost for $100 on June 25.: NET METHOD
(2%*$5,000)
Debit Merchandise inventory for $5,000 for June 10.:GROSS METHOD
Mention any 4 criteria that a human resource manager should consider about job applicants.
The correct answer to this open question is the following.
Although there are no options attached, we can comment on the following.
The criteria that a human resource manager should consider about job applicants are the following.
1.- Technical expertise in their fields.
Candidates must show they have the experience for the position they are applying for.
2.- Accountability.
Managers should prove that candidates are responsible people and own the consequences of their decisions and actions.
3.- Commitment.
Managers have to realize that candidates are willing and able to show appreciation and commitment to the company. Their work must be a priority and should be dedicated to it.
4.- Communication.
Employees should show their communications abilities and capacity to accept criticism.
Suppose the government launches a successful advertising campaign that convinces workers with high school degrees to quit their jobs and become full time college students. This would cause Group of answer choices the unemployment rate to decrease. the labor force participation rate to decrease. no change in the unemployment rate. the number of discouraged workers to increase.
Answer:
The answer is B.
Explanation:
The labor force participation rate to decrease. Labor force is the total number of people in paid employment (employed people) and unemployed people but who are actively searching for job.
Since the workers that quit job would be enrolled as full time college student, labor force rate will decrease since they are not employed and will not be actively searching for job.
Harriet Kirby, a fund raising manager at a women's rights organization, experienced a bad incident last year with the public relations manager of a banking company who had committed to sponsor a charity event. The bank backed out at the last minute. This year, when a renowned international bank executive showed interest in sponsoring the organization's upcoming annual event, Kirby rejected their participation. She felt that banks have a casual approach toward charity events and it is risky to involve them in the event. Which of the following best characterizes Kirby's decision?
A) selective perception
B) cognitive dissonance
C) self-serving bias
D) bandwagon effect
E) self-fulfilling prophecy
Answer:
A
Explanation:
selective perception is a form of bias when new information is interpreted in a way that conforms to existing values and beliefs.
If the firm finances investment spending out of retained earnings, then the interest rate is: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices the equivalent of income plus transfers minus taxes. the ratio of the total change in real gross domestic product (GDP) caused by an autonomous change in aggregate spending to the size of that autonomous change. the opportunity cost of using those funds for a particular investment project. irrelevant.
Answer: the opportunity cost of using those funds for a particular investment project.
Explanation:
Financing investment from the retained earnings of a company might seem like a costless method of sourcing funds but there is a cost that needs to be accounted for. This is the opportunity cost of not using those retained earnings for something else.
For instance, if Parrain Inc. decided to expand using retained earnings when they could have invested in a project that gave a return of 12% per year, the interest rate for the expansion is that 12% they could have earned from the other project.
Contrast how a depositor's account is classified by a bank compared to how it is classified by the account owner by completing the following sentence. A depositor's account is a(n) (liability/asset/expense) on the bank's records, but it is a(n) (liability/asset/expense) on the books of the account owner. Because of this, every time the account owner makes a deposit, the bank (debits/credits) the account owner's account.
Answer:
A depositor's account is a liability on the bank's records, but it is an asset on the books of the account owner. Because of this, every time the account owner makes a deposit, the bank credits the owner's account.
Explanation:
A liability is a debt that a person or company owes to another party, usually in the form of money. Therefore, a depositor's account shows the amount the banking is owing the depositor. This makes it a liability.
An asset is any resource that a business or economic entity owns or controls, such as money. Therefore, a depositor's account shows the amount a depositor has in the bank or the amount the bank is owing him. This therefore makes it an asset.
According to accounting principle, all assets must be debited while liabilities must credited. Since a deposit a liability to the bank, the bank credits the owner's account every time the account owner makes a deposit.
Therefore, a depositor's account is a liability on the bank's records, but it is an asset on the books of the account owner. Because of this, every time the account owner makes a deposit, the bank credits the owner's account.
Organizations can use common core security principles recommended as industry best practices when developing policies, standards, baselines, procedures, and guidelines. Which principle states that policy and standards library documents should be written to consider everyone affected, including technical, administrative, organizational, operational, commercial, educational, and legal personnel
Answer:
Multidisciplinary principle
Explanation:
In simple words, multidisciplinary approach refers to the framework for business management under which the administration makes rules and procedures to operate in such a way that every individual at stake will be equally impacted from them.
This is a modern technique for management and avoids every kind of bias like gender, race etc.
Explain the difference between uninsured and underinsured.
Which of the statements below is FALSE?
A. Shareholders with super voting right shares have multiple votes per share a fact that increases their influence and control over the company.
B. Some firms issue several classes of common stock, and these classes may have unequal voting rights.
C. The standard of one vote for each share cannot be altered.
D. Common stock usually carries the right to participate in the management of the firm through the right to vote for the members of the Board of Directors and for changes to the charter and bylaws of the company.
Answer:
C. The standard of one vote for each share cannot be altered.
Explanation:
Shares are sold to individuals that now obtain ownership rights of a company.
Common share holders are entitled to voting in of new board members and also have the ability to vote for changes in bylaws of the company.
Also common shareholders are shares have different classes with different voting rights.
However it is not true that the standard of one vote for each share cannot be altered.
When more shares are issued by a company it can result in dilution of shares. That means for example if a person has 10,000 shares in a company with 1 million shares, and the company now issues an extra 1 million shares making 2 million in total now.
The shareholder's standard of vote for each share is now halved
MycroFiber is a producer of microfiber material for the auto detailing industry. Jamal, the owner of MycroFiber is highly skilled in the technical and manufacturing areas, but does not understand pricing. Jamal knows he wants to cover the cost of production when selling his material and needs revenue to cover his overhead costs and to make a profit. To be sure he meets these goals, Jamal decides to take a cost-based pricing approach. If MycroFiber's cost of production is $4 a square yard, Jamal and Jamal prices his material at $10 a square yard, what is MycroFiber's margin percentage?
a. 40%.
b. 150%.
c. 60%.
d. 250%.
Answer:
40%
Explanation:
The MycroFiber's cost of production is $4 a square yard.
The Price of the material is $10 a square yard
The margin percentage is calculated as shown below:
Profit Margin = Profit/Revenue
Profit Margin = ($4/$10)* 100%
Profit Margin 40%
MycroFiber's margin percentage is 40%
The correct option will be "a. 40%."
Prepare a vertical analysis of the balance sheet data for Nike for 2020. (Round percentages to 1 decimal place, e.g. 12.3%.) NIKE, INC. Condensed Balance Sheet choose the accounting period $ (in millions) Percent Assets Current assets $8,961 enter your answer in percentages rounded to 1 decimal place % Property, plant, and equipment (net) 1,957 enter your answer in percentages rounded to 1 decimal place % Other assets 1,584enter your answer in percentages rounded to 1 decimal place % Total Assets $12,502enter your answer in percentages rounded to 1 decimal place % Liabilities and Stockholders' Equity Current liabilities $2,970 enter your answer in percentages rounded to 1 decimal place % Long-term liabilities 1,302 enter your answer in percentages rounded to 1 decimal place % Stockholders' equity 8,230enter your answer in percentages rounded to 1 decimal place % Total liabilities and Stockholders' Equity $12,502enter your answer in percentages rounded to 1 decimal place %
Answer:
NIKE, INC.
NIKE, INC.
Condensed Balance Sheet
As of December 31, 2020 $ (in millions) Percent
Assets
Current assets $8,961 71.7%
Property, plant, and equipment (net) 1,957 15.6%
Other assets 1,584 12.7%
Total Assets $12,502 100%
Liabilities and Stockholders' Equity
Current liabilities $2,970 23.8%
Long-term liabilities 1,302 10.4%
Stockholders' equity 8,230 65.8%
Total liabilities and Stockholders' Equity $12,502 100%
Explanation:
a) Data and Calculations:
NIKE, INC.
Condensed Balance Sheet
As of December 31, 2020 $ (in millions) Percent
Assets
Current assets $8,961
Property, plant, and equipment (net) 1,957
Other assets 1,584
Total Assets $12,502
Liabilities and Stockholders' Equity
Current liabilities $2,970
Long-term liabilities 1,302
Stockholders' equity 8,230
Total liabilities and Stockholders' Equity $12,502
Each balance sheet item is expressed as a percentage of the total assets under the vertical analysis. This means that the item is divided by the total assets value of $12,502 multiplied by 100.
Identify and explain two disadvantages to PShirts of being a private limited company.
Answer:
Cannot quote stock on Stock Exchange
A private limited company by definition will not be allowed to trade on stock exchanges like a public limited company would. This means that they will not be able to go into the stock market to seek additional funding if needed thereby reducing their chances of getting investment funds.
Number of shareholders limited.
Private limited companies face a limit on the number of people that can hold shares in the company. Some countries have different limits but generally the number of shareholders should be somewhere between 2 and 200.
This again restricts the amount that can be raised from issuing stock.
What is the definition of leadership
Answer:
Leadership is having the ability to lead others or influence them. They are able to guide others to achieve certain things.
Inkamva Lethu was established to offer counseling service for drug addicts and raise substance abuse awareness at no cost, identify form of ownership for this statement
Answer: Nonprofit Corporation
Explanation:
A Nonprofit corporation is one where the organization works to promote the good of the public in general either through charity, education, science, health and the like. These organizations provide their services at no cost and therefore rely on donations from benefactors to keep them going.
Inkamva Lethu is a Nonprofit corporation as it works for the public good by counseling drug addicts and raising awareness of substance abuse. They do this at no cost as well so they are a nonprofit corporation.
If you purchase health insurance from a federal- or state-facilitated health insurance marketplace, then you are eligible for a premium tax
.
Answer:
credit.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
A tax incentive can be defined as benefits such as deductions, exclusions or exemptions given by the government to individuals or businesses so as to motivate them to save or spend money by reducing their tax rates i.e the amount of money to be paid as tax.
In the United States of America, if an individual or a patient purchase health insurance from a federal- or state-facilitated (sponsored) health insurance marketplace, then he or she is eligible for a premium tax credit payable by the internal revenue service (IRS).
This ultimately implies that, a premium tax credit is a refundable tax credit and it reduces the amount of money an individual or household would pay for his or her monthly health insurance payments when purchased through the health insurance marketplace.
An example is the Affordable Care Act (ACA) which was formally known as the Patient Protection and Affordable Care Act (Obamacare). It is a federal statute of the United States of America which was enacted by the 111th US Congress and signed into law by President Barack Obama. The Affordable Care Act (ACA) became effective on the 23rd of March, 2010 and it focused on making affordable health insurance available to qualified people or households through cost-sharing reductions and premium tax credits (subsidies).
Due to a mild winter, Florida experienced a bumper crop of oranges. This would best be represented by a(n) movement down the U.S. production possibility frontier. movement off the U.S. production possibility frontier to some point inside the frontier. movement up the U.S. production possibility frontier. outward shift of the U.S. production possibility frontier away from the origin.
Answer:
movement up the U.S. production possibility frontier.
Explanation:
The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
The PPF is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
Point outside the curve or to the right of the curve means that the production level is not attainable given the level of resources
Points inside the production possibilities curve means that the nations resources are not being fully utilised
Factors that cause the PPF to shift
1. changes in technology.
2. changes in available resources.
3. changes in the labour force.
Due to the winter, there would be a movement up along the PPF
help me now please and thank you
Answer:
3000
Explanation:
Bill and Cathy built a new home in 1985 at a cost of $90,000. They paid 20% of the cost to build the home themselves and financed the rest. They paid off the mortgage in 15 years. They used $35,000 from Bill's inheritance to upgrade the home in 2004. When they sold the home for $335,000 in 2006, what was the value of their equity?
A. $35,000
B. $90,000
C. $210,000
D. $245,000
E. $335,000
F. It depends on the rate of interest on the mortgage they had
Answer:
E. $335,000
Explanation:
The computation of the value of the equity is as follows;
Given that
The cost of the home is $90,000
The payment made is of 20%
The usage of the inheritance is $35,000
And, the sale value of the home is $335,000
Now based on the above information
SInce the liability of the loan was repaid so here the equity i.e. left should be considered i.e. $335,000
Therefore the option e is correct
When a supplier makes a downward adjustment in the amount owed by a creditor, the creditor will:
A. reduce the amount of the account payable to the supplier, and decrease an asset such as inventory.
B. increase the amount of the account payable to the supplier, and decrease an asset such as inventory.
C. reduce the amount of the account payable to the supplier, and increase cash.
D. reduce the amount of the account payable to the supplier, and decrease cash.
Answer:
d
Explanation:
When a supplier makes a downward adjustment in the amount owed , it means that the supplier reduces the total amount owed. thus the creditor would r less cash and the debtor would pay less cash
The Pita Pit borrowed $198,000 on November 1, 2021, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2022. In connection with this note, The Pita Pit should report interest expense at December 31, 2021, in the amount of: (Do not round your intermediate calculations.)
A. $0.
B. $3,960.
C. $11,880.
D. $23,760.
Answer:
$3,960
Explanation:
The Borrowed amount is $198,000 on November 1, 2021.
The interest expense at December 31, 2021 is calculated as shown below:
I=PRT
R=12%=0.12
P=$198,000
T=2 Months=(2/12) year
I=198,000*0.12*(2/12)
I=$3960
The correct option will be "B. $3,960."
In April of the current year, Freeman Steel Company transferred Herb Porter from its factory in Nebraska to its plant in Michigan. The company's SUTA tax rates based on its experience ratings are 3.2% in Nebraska and 3.8% in Michigan. Both states base the tax on the first S9,000 of each employee's earnings. This year, Freeman Steel Company paid Herb Porter wages of $20,900: $2,800 were paid in Nebraska and the remainder in Michigan. Compute the following:
Round your answers to the nearest cent
a. Amount of SUTA tax the company must pay to Nebraska on Porter's wages _______
b. Amount of sUTA tax the company must pay to Michiganion Porter's wages _______
c. Amount of the net FUTA tax on Porters wages ___________.
Answer:
A. $96
B. $228
C. $42
Explanation:
A. Calculation to determine the Amount of SUTA tax the company must pay to Nebraska on Porter's wages
SUTA tax =$3,000 x 3.2%
SUTA tax = $96
Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $96
B. Calculation to determine the Amount of sUTA tax the company must pay to Michiganion Porter's wages
SUTA tax =($9,000 - $3,000 )x3.8%
SUTA tax =$6,000 x 3.8%
SUTA tax = $228
Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $228
C. Calculation to determine the Amount of the net FUTA tax on Porters wages
Net FUTA tax=$7,000 limit) x 0.6%
Net FUTA tax = $42
Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $42
what is fiscal policy
Fiscal policy is the use of government revenue collection and expenditure to influence a country's economy.
Farm Co. leased equipment to Union Co. on July 1, Year 4, and properly recorded the sales-type lease at $135,000, the present value of the lease payments discounted at 10%. The first of eight annual lease payments of $20,000 due at the beginning of each year of the lease term was received and recorded on July 3, Year 4. Farm had purchased the equipment for $110,000. What amount of interest revenue from the lease should Farm report in its Year 4 income statement
Answer:
the amount of the interest revenue is $5,750
Explanation:
The computation of the amount of the interest revenue is shown below:
The first payment will decrease the principal as the interest has not begins to accrue
= $135,000 - $20,000
= $115,000
Now the interest should be
= $115,000 × 10% × 6 months ÷ 12 months
= $5,750
Hence, the amount of the interest revenue is $5,750
Epsilon currently pays $94 per unit to buy a part for a product it sells. Epsilon has excess capacity, and estimates that making the part would incur variable costs of $8 for direct materials and $58 for direct labor. Epsilon's normal predetermined overhead rate is 150% of direct labor cost, but management computes an incremental overhead rate of $23.20 per unit to make this part. Epsilon should choose to:
Answer:
Make as the relevant cost to make is $89.20 per unit.
Explanation:
Calculation to determine what Epsilon should choose to:
Using this formula
Relevant cost to make= Direct material + Direct labor+Incremental overhead.
Let plug in the formula
Total Relevant cost to make=$8.00 +$58.00+$ 23.20
Total relevant cost to make$89.20
Therefore Epsilon should choose to:Make as the relevant cost to make is $89.20 per unit.
What caused china's phenomenal economic growth rate over the last 30 years, and why is it likely unsustainable in the long run?
Answer:
What caused china's phenomenal economic growth rate over the last 30 years
There are many causes for China's economic miracle in recent decades.
The first cause is that China decided to open the country to foreign investment in some parts of the country, the famous Special Economic Zones, the first one having been located in the city of Shenzhen, north of Hong Kong. This flow of capital boosted inustrial growth.
The second cause is that China became a manufacturing powerhouse due to lower labor costs, reason why most developed countries outsourced a large precentage of their manufacturing sector to China.
A third cause is that the Chinese government worked closely with both domestic firms and foreign firms in specific sectors, promoting a mixed economy in between economic planning and a market economy.
why is it likely unsustainable in the long run?
China's growth is likely unsustainable in the long run because as a country develops and catches up with the advanced world, its rate of growth tends to fall due to a myriad of reason, from capital exhaustion to lower demographic growth, to a less dynamic consumer market in several sectors.
The Xu Corporation uses a periodic inventory system. The company has a beginning inventory of 2,150 units at $24 each on January 1. Xu purchases 2,400 units at $23 each in February and 1,150 units at $25 each in March. There were no additional purchases or sales during the remainder of the year. Xu sells 1,100 units during the quarter. If Xu uses the weighted average method, what is its cost of goods sold for the quarter
Answer:
$26,159
Explanation:
Cost of goods available for sale = (2,150 units * $24) + (2,400 units * $23) + (1,150 units * $25)
Cost of goods available for sale = $51,600 + $55,200 + $28,750
Cost of goods available for sale = $135,550
Number of units available for sale = 2,150 units + 2,400 units + 1,150 units
Number of units available for sale = 5,700 units
Weighted average cost per unit = Cost of units available for sale / Number of units available for sale
Weighted average cost per unit = $135,550 / 5,700
Weighted average cost per unit = $23.7807
Xu sells 1,100 units during the quarter.
Cost of goods sold = 1,100 units * $23.7807 per unit
Cost of goods sold = $26,159
Use the Internet to research different outside financing sources available to entrepreneurs. You will need to have at least three sources and their URL link locations.
Now that you have completed the research, record your findings in the table below.
Fill in three sources of financing and include their links.
Explain how an entrepreneur can acquire a loan from the financing source.
Answer:
Three sources of financing to a business includes;
1) Angels (National Angel Capital Organization, NACO)
Wealthy and experienced retired industry leaders, that invest in startups, require transparency, and take charge of the supervision of the business management practices
2) Business Accelerator or Incubators (MaRS; MaRS Discovery District)
An incubator provide enabling environment and resources for startups to develop ideas before going into production
3) Bank Loans (Business Development Bank of Canada, BDC)
Bank provide loans to startup with a good idea and an accompanying excellent business plan, and personal guarantee
Explanation:
Daisy McMillan works as the office manager for Timball and Lewis, a medium-sized law firm. One afternoon, she went to the hardware store to purchase a few maintenance items for the office. While there, she also bought her husband a hammer as a birthday present. At the register, the items, including the hammer, totaled $63. She paid for all the items together and received both a carbon copy receipt and a separate credit card receipt. Back at the office, she carefully scratched additional numbers on to the carbon copy receipt to increase the total price to $168 and turned in the altered receipt for reimbursement. Several weeks later, she turned in the credit card receipt along with another reimbursement request for the $63. What type of expense reimbursement fraud did she commit
Answer:
all of the above
Explanation:
found it on quizlet
When Pat was talking with his customer about the new accounting system, his customer mentioned that she thought the new system was not going to fit into their budget. Pat explained that once her people were trained on it, it would require less time to process orders, and therefore save her money in payroll. Which part of the sales presentation is demonstrated in this example
Answer:
overcoming reservations
Explanation:
From the question we are informed about Pat who was talking with his customer about the new accounting system, his customer mentioned that she thought the new system was not going to fit into their budget. Pat explained that once her people were trained on it, it would require less time to process orders, and therefore save her money in payroll. The part of the sales presentation demonstrated in this case is an example of overcoming reservations.
Sales presentation can be regarded as sales pitch and it's a selling technique which can be explained as line of talk which is an attempts of persuading someone or something, using a planned sales presentation strategy of particular product/service which is been designed to initiate as well as close a sale of that particular product or service, example of this is overcoming reservations which is a method of persuading customers.
Give one word for the following.
A. Involuntary separation from an organization.
__________________
B. Voluntary separation from an organization.
__________________
Answer:
a fired
b quit
Explanation:
involuntary is not by choice
voluntary is by choice