The given statement is true about the budget information or a time estimate in the content creation plan.
A budget is a calculating play, typically financial but not necessarily, for a specific time frame, typically one year or a month. A budget accounts for anticipated income and costs as well as future saving and spending. Individuals and businesses may both use budgeting to determine whether or not their predicted revenue and costs will allow them to continue operating. A budget that includes information on the projected value of sales and cost may be created for each fiscal year. This allows you to predict how the upcoming accounting period will probably conclude. The business's actual performance may be compared to the suggested strategy. Budgets are a quantitative way for businesses, governments, families, and other groups to articulate their strategic plans of action.
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Acme Company
Balance Sheet
As of January 5, 2021
(amounts in thousands)
Cash 14,700 Accounts Payable 2,400
Accounts Receivable 4,800 Debt 3,700
Inventory 3,800 Other Liabilities 5,000
Property Plant & Equipment 15,800 Total Liabilities 11,100
Other Assets 900 Paid-In Capital 6,000
Retained Earnings 22,900
Total Equity 28,900
Total Assets 40,000 Total Liabilities & Equity 40,000
Update the balance sheet above to reflect the transactions below, which occur on January 6, 2021
1. Receive payment of $12,000 owed by a customer
2. Buy $15,000 worth of manufacturing supplies on credit
3. Purchase equipment for $44,000 in cash
4. Issue $80,000 in stock
5. Pay $4,000 owed to a supplier
6. Borrow $58,000 from a bank
7. Buy $15,000 worth of manufacturing supplies on credit
What is the final amount in Accounts Payable?
According to the question, the final amount in accounts payable of balance sheet is $21,400.
What is balance sheet?
A balance sheet is a financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. It is used to gain insight into the financial strength of a company. Balance sheets show a company's total assets, liabilities, and equity. Assets are everything a company owns, such as cash, accounts receivable, inventory, and property. Liabilities are amounts owed to creditors, such as accounts payable, debt, and payroll liabilities.
This is because the Accounts Payable amount of $2,400 is increased by the second transaction of buying $15,000 worth of manufacturing supplies on credit and decreased by the fifth transaction of paying $4,000 owed to a supplier. Thus, the Accounts Payable balance is $2,400 + $15,000 - $4,000 = $21,400.
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The failure of communism in a large number of countries is at least partly explained by Group of answer choices the fact that those countries relied absolutely on the invisible hand. the fact that those countries did little or nothing to restrict trade with other countries. the lack of information, on the part of central planners in those countries, about tastes and preferences in their economies. the lack of information, on the part of central planners in those countries, about how much authority the government had in affecting economic outcomes.
Option 3 is Correct. The failure of communism in a significant number of nations is at least partially explained by the central planners in those nations' ignorance of the preferences and tastes that make up their economy.
The main distinction between communism and socialism is that under communism, the state (rather than private citizens) owns and controls the majority of property and economic resources, whereas under socialism, all citizens share equally in the economic resources distributed by a democratically elected government.
Government control is the main component of a command economy. The government establishes economic goals and regulates production and pricing rather than letting market forces determine the production of products and services.
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Correct Question:
The failure of communism in a large number of countries is at least partly explained by Group of answer choices
1. the fact that those countries relied absolutely on the invisible hand.
2. the fact that those countries did little or nothing to restrict trade with other countries.
3. the lack of information, on the part of central planners in those countries, about tastes and preferences in their economies.
4. the lack of information, on the part of central planners in those countries, about how much authority the government had in affecting economic outcomes.
Read the quotation above, an excerpt from a speech by a U.S. public official. The statement most directly reflects which of the following economic principles and contradicts which other?
The claim directly contradicts Adam Smith's theory of free enterprise and John Maynard Keynes' notion of government responsibility.
Reflects:
Given that "In the long run, we are all dead," as he put it, Keynes suggested that governments should address issues now rather than waiting for market forces to do so. This does not imply that Keynesians support periodic policy adjustments to maintain full employment.
Contradicts:
Adam Smith was one of the first thinkers of his era to assert that money is produced via labor that is productive and that individuals are driven by self-interest to make the most use of their resources. He believed that capital investments generated profits, and that capital is allocated to projects where the greatest profits can be realized.
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What is the cost of life insurance?
The cost of life insurance varies depending on factors such as age, health, and death benefit amount.
Life insurance premiums are based on a variety of factors that insurers use to determine risk. Age is one of the main factors, as those who are younger typically pay lower premiums. Other factors like the death benefit amount, medical history, lifestyle, and occupation can also affect the cost of life insurance.
Additionally, the type of life insurance policy chosen can also affect the cost. Term life insurance usually has lower premiums but no cash value, while whole life insurance has higher premiums but also provides a cash value component.
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If the total adult working population of Country X is 450 million, the number of unemployed people is 95 million, and the number of employed people is 245 million, what is the labor force participation rate
The market for coffee is initially in equilibrium. Coffee producers engage in a nationwide advertising campaign to encourage more coffee consumption. The campaign is successful so the demand for coffee increases. Therefore, it can be concluded that the equilibrium quantity of coffee will __________.
At first, the coffee market is in a state of balance. To increase coffee consumption, coffee companies run a national advertising campaign. As a result of the campaign's success, there is a rise in coffee demand. Therefore, it can be said that more coffee will be needed to reach equilibrium.
In the United States, the production of coffee includes growing and processing coffee beans into roasted, ground, or flavor-infused coffee products as well as coffee concentrates, extracts, flavorings, and syrups. Coffee is a common beverage and important good. Millions of small farmers in developing countries depend on the coffee they grow for a life. Worldwide, 2.5 cups of coffee are used per person per day, or more than 2.25 billion cups each day. While most coffee is consumed in developed economies, over 90% of the world's coffee is actually grown in developing countries, primarily in South America. 25 million small farmers rely on the selling of coffee to make a living worldwide. Producing produces almost a third of the world's coffee.
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What is any proprietary software licensed under exclusive legal right of the copyright holder? Multiple Choice closed source open source knowledge system open system
The correct option is A. Closed Source is Any proprietary software licensed under exclusive legal right of the copyright holder.
Proprietary software is software program that is deemed in the unfastened and open-source software to be non-unfastened because its writer, writer, or different rightsholder or rightsholder partner physical activities a criminal monopoly afforded through modern-day copyright and intellectual assets regulation to exclude the recipient from freely sharing the software program or editing it, and—in some instances.
The case with some patent-encumbered and EULA-bound software—from using the software on their personal, thereby limiting his or her freedoms. it is frequently contrasted with open-source or loose software. for this reason, it's also referred to as non-loose software program or closed-source software program.
A software dealer delineates the precise terms of use in a stop-consumer license agreement (EULA). The person may comply with this contract in writing, interactively on screen (clickwrap), or with the aid of establishing the box containing the software (cut-back wrap licensing). License agreements are typically not negotiable.
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Holiday company issued its 9%, 25-year mortgage bonds in the principal amount of $3,000,000 on january 2, 2003, at a discount of $150,000, which it proceeded to amortize by charges to expense over the life of the issue on a straight-line basis. The indenture securing the issue provided
18.12.2020 as of A
4,080,000 Dr. Cash
Cr 11% Bond Payable, 4,000,000 (Face Value).
80,000 in CR Premium on Bond Issue.
2. January 2021
Dr. 9% Bonds Payable, 3,000,000 (Face value).
Dr Loss on Redeeming 180,000 Bond
Bond Discount of Cr to be Paid at 60,000
Cash in Cr 3,120,000
B. The loss is listed as ordinary income.
How to find the calculation?A. Writing entries in a journal
18 December 2020
4,080,000 Dr. Cash
($4,000,000/100)*102
Cr 11% Bond Payable, 4,000,000 (Face Value).
80,000 in CR Premium on Bond Issue.
(4,080,000-4,000,000)
2. January 2021
Dr. 9% Bonds Payable, 3,000,000 (Face value).
Dr Loss on Redeeming 180,000 Bond
[3,00,0000-(3,120,000+60,000)]
Bond Discount of Cr to be Paid at 60,000
($150,000/25)*10
Cash in Cr 3,120,000
(3,000,000*104%)
B. A description of how the gain or loss from redemption is handled in the income statement.
The LOSS is listed as a regular income.
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A good that takes up a very large percentage of the consumer's budget will tend to have
A. An elastic demand
B. A perfectly elastic demand
C. an inelastic demand
D. an upward-sloping demand curve
E. Very many substitutes
Answer:
A. An elastic demand is the answer.
Explanation:
The number of products that a firm is willing to sell is also known as the number it is willing to _____.
The number of products that a firm is willing to sell is also known as the number it is willing to supply
The term "supply" refers to the overall quantity of a certain commodity that is made available to the market for consumption. Demand and supply have a strong relationship that influences market equilibrium, which determines the amount of items available on the market and their selling prices. The amount of goods or services that a company has available to its customers at any given time is referred to as supply. This refers to the goods a company has on its property and in warehouses that it can sell to clients in a physical, brick and mortar store.
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Which of the following is an advantage of leasing over buying a car? (1 point)
Leasing is nearly always less expensive than buying.
You are always driving a new car, which has the latest safety features.
You can sell the car whenever you want.
When the lease ends, you do not have a car.
The advantage off leasing a car over buying a car is A. leasing is nearly always less expensive than buying.
What is a Lease?Lease is an agreement where a person or Lessee gets the asset that is required for a minimal down payment and pays monthly or annually installments with interest charged, this practice is usually seem to be less expensive than buying a car as the cash flows are split on multiple years while if the person buy a car the cash flow has to be paid on the spot.
Therefore leasing a car is considered to be less expensive and is also widely accepted and used by many individuals. A lease has different terms and interest rate depending on the asset and its value. Also the terms also have duration of the lease which can be amended according to the requirement of the lessee.
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Who controls everything in a command economy?
In a command economy, all economic decisions are made at the discretion of the central authority. The land and the means of production are either owned by the state or a group.
The government develops a central economic plan in a contemporary, centrally planned command economy. The government might create a five-year plan, for instance, with objectives for the economy and society in each sector and area of the nation. Goals are transformed into actionable objectives in shorter-term strategies.
All resources are distributed by the government in accordance with the overall plan. It seeks to make the best use possible of the nation's financial resources, labor force, and natural resources.
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Which of the following costs generally can be traced directly to units of product?
a. Indirect materials and assembly labor
b. Assembly labor
c. Indirect materials
d. Overhead costs
(b) Assembly labor is generally a cost that can be traced directly to units of product.
This is because assembly labor is a direct cost, which means it is directly associated with the production of a specific product or group of products. The cost of assembly labor can be traced to specific units of product by calculating the amount of labor required to produce each unit. Indirect materials and overhead costs, such as indirect materials and overhead costs, are not directly associated with the production of specific products. They are indirect costs, which means they are incurred in the production process but cannot be traced directly to specific units of product. They are typically allocated to products based on a cost driver such as machine hours, direct labor hours, or production output.
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the efficiency-wage theory of worker turnover suggests that firms with higher turnover will have
The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have higher wages.
This theory posits that firms will pay higher wages to their workers in order to reduce turnover and increase productivity. The reasoning behind this is that higher wages will make it less attractive for workers to leave their current job for another one, thus reducing turnover. Additionally, the theory suggests that when workers are paid higher wages, they will be more motivated to work harder and be more productive, which can lead to increased efficiency and profitability for the firm. The efficiency-wage theory of worker turnover suggests that firms with higher turnover will have higher wages, and that this can lead to increased efficiency and profitability for the firm. By reducing turnover through higher wages, firms can reduce the costs and disruptions associated with recruiting and training new workers. Additionally, by motivating workers to work harder and be more productive, firms can increase efficiency and improve overall performance. This can in turn lead to increased profitability for the firm.
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If the consumer price index (CPI) were 131 at year-end 1999and 125 at year-end 1998, then inflation during 1999 was
From the base year to the current year, prices have risen by 30%. First, divide the result by the CPI for the starting date by the difference between the consumer starting date (A) and the ending date (B) (A).
Then divide the value by 100 to obtain the percentage inflation prices. Typically, to obtain a baseline for the consumer price index, multiply the sum by 100. The number that sets the comparability of your total is known as the baseline. For instance, if you divided $290 by $260, the result was 1.16. To get your baseline, multiply this value by 100.
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In a Boston Consulting Group (BCG) matrix, _____ are businesses that have only a small share of a quickly growing market.
In a Boston Consulting Group (BCG) matrix, problem child are businesses that have only a small share of a quickly growing market.
A planning tool developed by the Boston Consulting Group (BCG) uses graphical representations of a company's goods and services to assist it in deciding what to maintain, sell, or spend more in. The matrix displays a company's products as a four-square matrix, with the market share axis on the x-axis and the rate of market growth on the y-axis. The Boston Consulting Group first presented it in 1970. A company with a tiny market share in a sector that is expanding quickly is considered a problem kid. It is one of the four classifications in the BCG Growth-Share Matrix, a management tool created by Boston Consulting Group in 1968 to assist businesses in determining which business units to buy and which to sell.
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Credit default swaps are Multiple Choice an insurance product designed to protect financial institutions from customers who default on their loans. securities with a maturity of less than one year. the result of a leveling off or slowing down of stock price increases. market trades in previously issued securities.
Credit default swaps are a type of insurance created to shield financial organisations against clients who don't pay back their debts on time.
What is credit default?A default happens when a borrower is unable to make the necessary debt payments. Credit card debt, school loans, and loans secured by real estate, such a mortgage, are examples of secured and unsecured debt that can default on payments.
What are credit default swaps used for?With the use of a Credit Default Swap (Credit Default Swaps), a Credit Default Swaps (CDS), a Credit Default Swaps (CDS), a Credit Default Swap (CDS), The lender acquires a CDS from another investor who guarantees to reimburse them in the event that the borrower defaults in order to swap the default risk.
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If $1,120 is invested at an interest rate of 15% per year and is compounded continuously, how much will the investment be worth in 7 years
The worth of investment in 7 years will be $3,200.57.
we know that,
The equation to use to determine continuously compounded interest is
[tex]A= P(e)^{rt}[/tex]
where,
The final investment value is A.
P is the initial investment's principal.
The interest rate in decimal form is r.
There are t time periods.
The mathematical constant is called e.
we have,
[tex]t= 7 \:years\\r= 0.15\\P= $1,120\\[/tex]
Substitute in the formula above
[tex]A= $1,120(e)^{0.15*7}[/tex]
[tex]A= $3,200.57[/tex]
Therefore, The worth of investment in 7 years will be $3,200.57.
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Which of the following is not a difficulty in the regulation and supervision of banks?
A. Unintended conséquences may happen if details in the regulations are not precise
B. Financial institutions are not required to follow the rules
C. Financial institutions may have strong incentive to avoid existing regulations
D. There can be political pressure to ease the rules
Option B: Financial institutions are not required to follow the rules, which is the correct option.
The regulation and supervision of banks is a difficult process due to the complexity of the financial system. Banks must comply with various laws and regulations to ensure the safety and soundness of the banking system.
Banks are required to follow rules and regulations to protect the public from financial losses and ensure the stability of the financial system. Banks are also subject to supervision and monitoring by regulatory authorities to ensure they are following the rules and regulations.
Any failure to comply with the rules may result in fines or other penalties. Thus, it is not correct to say that financial institutions are not required to follow the rules, as this could lead to serious consequences.
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What were internment camps called?
Internment camps are also called as concentration camp.
A concentration camp for civilians, especially those with ties to an enemy during a conflict, as the camps built by the US government to jail Japanese Americans after the Pearl Harbor attacks. A prison camp for the incarceration of prisoners of war, enemy aliens, political prisoners, etc.
Hitler and Communism did not invent the phrase "concentration camp," but it did. More often and more properly, the Nazi concentration camps are referred to as death camps. Though the "crimes" and "trials" were frequently fictitious, Stalin's Gulags were prison camps, making them slightly distinct from other concentration camps. However, a concentration camp—like those run by the British during the Boer War—does not by itself imply atrocities.
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Why do many countries prefer to use the mixed economic system?
In a mixed economy, private businesses and public enterprises coexist alongside free markets and governmental intervention.
What do you mean by businesses?A for-profit firm or company is referred to as a "enterprise" in other contexts, but this usage most frequently refers to entrepreneurial endeavors. Successful entrepreneurs are frequently referred to as "enterprising." There are numerous types of legal businesses, with the most popular in the United States
What qualifies a business as an enterprise?In essence, any business that has a number of locations, levels, departments, or divisions that work together to accomplish corporate goals and objectives is referred to as a "enterprise." The term "enterprise business process" refers to a collaborative effort between staff members from all company departments.
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What are the 5 advertising methods?
6 Different Types of Paid Advertising Techniques Ads for searches. Advertising on social media. Advertising on display. Localized advertising. Print marketing. Public service announcements.
What are the 5 main advertising techniques?Propaganda's basic strategies are successfully transferred to advertising and are still utilised most frequently. Utilization of Repetition, Product Claims, Association and Connection with the Customer, Persuading Customers to Join the Bandwagon, Promotions and Rewards. Product listing advertising, display ads, affiliate ads, native ads, social media ads, video ads, and email ads are the eight primary categories of internet advertisements.
The four Ps are a "marketing mix" made up of four essential components that are used to promote a good or service: product, pricing, place, and promotion. The four Ps are typically taken into account by firms when developing marketing plans and strategies to reach their target audience. Every successful businessperson is aware that keeping existing clients pleased is more crucial than continuously attracting new ones.
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Homebuyers: A. Do not need a stable income B. Move generally every couple of years C. Must pay homeowner D. All of the above
Homebuyers C. Must pay homeowner. Despite the fact that they are purchasing the house, the previous owner is also receiving a profit from the sale.
It is extensively used in many different industries, such as accounting, programming, games, and medical diagnostics. By employing information from a skill set to resolve problems that would ordinarily require a human expert, an expert system preserves the knowledge of a human expert.
The five key members of the expert system development team are the consultant, the knowledge engineer, the programmer, the project manager, and the end user. The success of their expert system will depend on how well they can work together.
As a result, the website automatically displays real estate listings that fit the homebuyer's preferences utilizing an expert system.
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Which collaborative technologies have been most commonly used by virtual teams over the past 25 years
The correct answer is teleconferences collaborative technologies have been most commonly used by virtual teams over the past 25 years.
A teleconference is a two-person or more live audio- or video-based meeting. Remote teams within a business may cooperate and communicate even when they are geographically separated because to the capacity to teleconference. An audio conference call between two different places with many people speaking through speakerphones on either end might be an example of a teleconference in its most basic form. written conversation utilising keyboard inputs and a shared programme across two or more computers. Teleconferencing is a conference that takes place over a phone line. It is a general word for using technology to connect individuals between two or more sites.
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True or false: Each type of information system (TPS, MIS, DSS, EIS) generally serves (and is used by) employees/users at different levels of the organization (i.e., TPS for one group, MIS for another group, DSS for another, and EIS for another).
Certainly, any information system such as "TPS, MIS, DSS, EIS" is the same. It typically serves (and is used by) employees/users at various levels of an organization.
A typical organization is divided into operational, middle, and upper levels. Each level of user has different information requirements. For this purpose, there are many information systems supporting all levels within the organization.
This tutorial explores the different types of information systems, the organizational levels that use them, and the characteristics of each information system. In this tutorial, you'll learn about different classifications of information.
TPS is designed to accelerate and automate transaction processing, record keeping, and easy business reporting of transactions. DSS is intended to support decision-making.
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On January 1, 2017, Ellen Carter Company makes the two following acquisitions. 1. Purchases land having a fair value of $200,000 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $337,012. 2. Purchases equipment by issuing a 6%, 8-year promissory note having a maturity value of $250,000 (interest payable annually). The company has to pay 11% interest for funds from its bank
Journal entries are those that are made at the beginning of the bookkeeping process. Once the entries have been put in the journal, ledger accounts are created for the next step in the process.
What constitutes a journal entry?Each diary entry must have two accounts, one credit and one debit, in double-entry accounting. The number of additional accounts an accountant can include in a personal journal after the first two is unlimited.
What are the four most popular journals?The cash receipts journal, monthly bank journal, cash sales journal, and cash purchases journal are the four primary special journals. These unique journals were created because certain journal entries recur.
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If firms expect the future returns for an investment to be very low, all else equal, they will multiple choice 2 produce more. invest more. invest less. produce less.
Invest less. Firms will invest less if they expect the future returns for an investment to be very low, as it is not a good use of resources to invest money into something that is unlikely to yield a good return.
What is Invest?Investing is the process of placing your money into assets such as stocks, bonds, mutual funds, and other securities with the expectation that they will appreciate in value over time. By investing, you are taking a risk with your money and hoping that you will gain a return on your investment. Investing can be a great way to grow your wealth and save for the future. You can also invest in yourself through education and training. When investing, it’s important to do your research and understand the risks and rewards of each type of investment. Additionally, it’s important to diversify your investments, as this can help you manage your risk and maximize your potential for profits.
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Carlos took seven years to pay off his loan by making identical quarterly payments. the loan had a principal of $22,375 and 5.49% interest, compounded quarterly. carlos paid a total of $28,821.67. how much did carlos pay in service charges? round all dollar values to the nearest cent.
a. $1,721.31
b. $4,725.36
c. $1,670.98
d. $6,446.67
please select the best answer from the choices provided a b c d
The correct response is a. $1,721.31. Carlos pay in service charges $1,721.31.
A service charge is a cost incurred to cover extra services obtained in addition to the main good or service acquired. The fee is typically imposed after the transaction is finished. Restaurants, banking, travel, and tourism are just a few of the industries that charge service fees. Tenants pay service charges to cover the cost of community or shared services provided to a building and, if relevant, the surrounding estate. In your leasing agreement, it is specified how charges are computed and what they cover. If a payment is explicitly presented to the customer as a totally discretionary contribution, HMRC will accept that it is a voluntary service charge. The material that the customer sees should reflect this and be in line with the guidance provided to clients by staff members.
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A job order costing system would best fit the needs of a company that makes:
Multiple Choice
O Custom machinery.
O Cement.
O Shoes and apparel.
O Paint.
O Pencils and erasers.
A company that produces custom machinery would benefit most from a job order costing system.
What do you know about costing system?
A costing system is made to keep track of a company's expenses. The system is made up of a number of forms, procedures, checks, and reports that are intended to gather and provide financial data to management. Any aspect of a business, including its clients, divisions, locations, structures, operations, procedures, goods and services, study and development, and reseller, may be covered by the reporting categories. The expenses of materials, labour, and overhead are totaled for each unit or task. For distinctive products like specially made machines or consultancy assignments, this strategy works well. Cost accumulation is a labor- and labor-intensive activity.
So, The required answer is Custom machinery.
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in evaluating the best advertising medium to reach a specific target market the clear choice is_____
In evaluating the best advertising medium to reach a specific target market the clear choice is direct mail.
What is Mail?A system for moving postcards, letters, and packages physically is known as mail or post.Although many governments impose limitations on private systems, postal services can be either public or private.Since the middle of the 19th century, national postal services have typically been founded as a government monopoly, with a fee on the article prepaid.An adhesive postage stamp is typically used as proof of payment, although for mass shipping, a postage meter is also utilized.The term "snail mail" was invented with the introduction of email. Apart from carrying letters, postal authorities frequently perform other duties.In some nations, in addition to managing telephone and telegraph networks, a postal, telegraph, and telephone service also manages the postal system.To learn more about mail from the given link
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