The equality of debits and credits is a fundamental principle of accounting, and it must always be maintained in the general journal, which is the primary book of original entries in accounting.
The equality of debits and credits is a critical step in the accounting process as it ensures that financial transactions are accurately recorded. The equality of debits and credits is proved for a general journal at the end of each accounting period.
This is usually done by preparing a trial balance, which is a summary of all the accounts and their balances. The total debits and credits in the trial balance should be equal, which demonstrates that the accounting equation (Assets = Liabilities + Equity) has been properly maintained.
If the trial balance shows that the debits and credits are not equal, it indicates an error in the recording of financial transactions. The accountant will then need to identify and correct the errors before preparing the financial statements.
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1. rayah reminds herself that when receiving negative feedback, she has a propensity to blame others for her mistakes. (click to select) 2. rainer decides to hide his anger after receiving negative feedback from his superior and he stops listening to the feedback. (click to select) 3. edie focuses on what she might be able to learn from her boss during her performance review. (click to select) 4. francis schedules a meeting with her boss to ask if he would list one thing that he thinks she could do a better job with on her current project. (click to select)
Edie concentrates on what she might pick up from her boss during the course of her performance assessment.
How do you feel after hearing something unfavorable?It can be unpleasant and difficult to hear negative remarks. Even the best among us frequently experience gloom and melancholy after hearing unfavorable remarks. After receiving bad comments, we frequently lack logical thought. We frequently attempt to save our faces instead.
How do you feel after hearing something unfavorable?It can be unpleasant and difficult to hear negative remarks. Even the best among us frequently experience gloom and melancholy after hearing unfavorable remarks. After receiving bad comments, we frequently lack logical thought. We frequently attempt to save our faces instead.
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Developing countries have sometimes adopted policies to shift people out of agriculture and into industry by protecting manufactured production. One of the problems they have encountered is that _____.
A) people have been too reluctant to leave rural areas to go to the cities
B) food shortages have increased in rural areas because of worker shortages
C) demand for social and political services has increased excessively in the cities
D) developed countries have retaliated with protection of products from the developing countries
The answer for the question is A) people have been too reluctant to leave rural areas to go to the cities.
Developing countries have sometimes adopted policies to shift people out of agriculture and into industry by protecting manufactured production. One of the problems they have encountered is that people have been too reluctant to leave rural areas to go to the cities. Developing countries are those countries that have a relatively low standard of living, a high population growth rate, a low per capita income, and a low human development index (HDI). Developing countries have sometimes adopted policies to shift people out of agriculture and into industry by protecting manufactured production.
The following are the policies of developing countries:
Encouraging multinational corporations to establish plants in their countries. Grants or subsidies to domestic businesses to increase industrial production. Restricting imports of manufactured goods to encourage domestic production. The problem faced by developing countries while shifting people out of agriculture and into industry is that people have been too reluctant to leave rural areas to go to the cities. They prefer to stay in their own locality rather than move to urban areas where there are better opportunities. This has resulted in a shortage of labor in the urban areas which, in turn, has led to an increase in wages. This has made manufactured goods more expensive and has reduced the competitiveness of developing countries.
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The current interest rate appropriate for discounting a cash flow of some given maturity, in other words the rate that prevails today for a zero-coupon bond of that maturity, is the ______________ rate.
The current interest rate appropriate for discounting a cash flow of some given maturity, in other words the rate that prevails today for a zero-coupon bond of that maturity, is the spot rate.
In finance, spot rate refers to the rate of return on an investment in a given security, usually a bond or other debt instrument, at a particular point in time. A spot rate, also known as a zero-rate, is a rate of return on an investment in which interest accrues only on the initial investment.
The zero-coupon bond's discount rate is the spot rate for a particular maturity. It is the appropriate interest rate used to calculate the present value of a bond's future cash flows. This is the rate that reflects the time value of money and other relevant factors like the credit risk of the issuer, liquidity, and inflation expectations.
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8. Nathan is the administrative manager at Woodlands, Inc. The organizational procedures and policies of the company prevent Nathan from implementing many of his ideas to increase efficiency. This indicates a low degree of which reduces Nathan's ability to influence others (power) A. centrality B. discretion C. substitutability D. ingratiation E. visibility 9. Mathew is one of the top attorneys at his law firm. His brilliance in handling some of the most difficult and high-profile cases has earned him fame far and wide, and he wields considerable influence in the running of the firm. Mathew's high degree of ___ ensures that he has considerable power to influence others. A. internalization B. discretion C. substitutability D. ingratiation E visibility
"Nathan is the administrative manager at Woodlands, Inc. The organizational procedures and policies of the company prevent Nathan from implementing many of his ideas to increase efficiency. This indicates a low degree of discretion, which reduces Nathan's ability to influence others." Thus, Option D is correct.
"Mathew is one of the top attorneys at his law firm. His brilliance in handling some of the most difficult and high-profile cases has earned him fame far and wide and he wields considerable influence in the running of the firm. Mathew's high degree of visibility ensures that he has considerable power to influence others." Thus, Option E is correct.
The Explanation to Each AnswerNathan, as an administrative manager, faces limitations in implementing his ideas to enhance efficiency in Woodlands, Inc. due to the company's strict procedures and policies. This indicates a low level of discretion, which refers to the decision-making authority and independence an individual has within their job.Learn more about discretion https://brainly.com/question/15022176
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From a macroeconomic point of view, which of the following is a source of demand for financial capital?
A. savings by households and firms
B. foreign financial investment
C. domestic household private savings
D. government borrowing
if analysts expect that the demand for loanable funds will decrease and the supply of loanable funds will increase, they would most likely expect interest rates to and prices of existing bonds to a. increase; increase b. increase; decrease c. decrease; decrease d. decrease; increase
Answer: The correct answer is d. decrease; increase. If analysts expect that the demand for loanable funds will decrease and the supply of loanable funds will increase, they would most likely expect interest rates to decrease and prices of existing bonds to decrease.
Explanation:
The demand for loanable funds refers to the total amount of loans that borrowers are willing to obtain at any given interest rate. This demand is inversely related to the interest rate. That is, when interest rates are low, borrowers are more willing to borrow, and when interest rates are high, they are less willing to borrow.
The total amount of loans that lenders are willing to lend at a given interest rate is referred to as the supply of loanable funds. This supply is directly proportional to the interest rate. When interest rates are low, lenders are less willing to lend, and when interest rates are high, they are more willing to lend.
When demand rises and supply remains constant, the equilibrium interest rate rises, and the quantity of loanable funds rises.
A decrease in the supply of loanable funds will increase the equilibrium interest rate and decrease the quantity of loanable funds.
The correct answer is d. decrease; increase.
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observation of inventories is a required audit procedure under all circumstances. group startstrue or false
The statement "observation of inventories is a required audit procedure under all circumstances" is FALSE. Auditors must assess the need for inventory observation based on the circumstances of the audit engagement.
Observation of inventories means counting and inspecting the physical quantity of inventory items to verify their accuracy with the inventory records. This is done to ensure that the inventory records accurately reflect the actual inventory on hand.
Companies monitor their inventories by performing physical inventory counts at regular intervals. The physical inventory count is the process of counting all of the inventory on hand and reconciling it to the inventory records to ensure that there are no discrepancies.
A physical inventory count begins by emptying out the entire inventory and organizing it into similar groups to simplify the counting process. The inventory is then counted manually, with counts typically recorded on a physical inventory count sheet or with an electronic device that automatically logs the count. After the counting is complete, the physical inventory count is compared to the inventory records to identify any discrepancies that require investigation to resolve.
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Seymore Corp. has the following number of shares of stock outstanding: Cumulative preferred stock, 8%, $100 par Common stock, $12 par 2,000 shares 20,000 shares Seymore will distribute $80,000 to the two classes of stockholders this year. Not counting the current year, the preferred stoc dividends are one year in arrears. Indicate whether each of the following statements is true or false. a) Preferred stockholders will receive $16,000 of cash dividends in the current year. b) After all required preferred dividends are paid, preferred and common stockholders will share the remaining dividend. c) Common stockholders will receive $48,000 of cash dividend in the current year. d) The amount of common dividends per share that stockholders will receive in the current year is $6.40. e) The amount of dividends in arrears is zero after the $80,000 of dividends have been paid.
From the above statement about preferred stocks, the correct answers are a, b, and e. While c, and d are inappropriate statements.
a) Preferred stockholders will receive $16,000 of cash dividends in the current year. True. The preferred stockholders will receive $16,000 of cash dividends in the current year, as there are 8% cumulative preferred stock with $100 par value, and 2000 shares outstanding, which totals to $16,000.
b) After all required preferred dividends are paid, preferred and common stockholders will share the remaining dividend. True. After the $16,000 of preferred dividends have been paid, the remaining $64,000 will be shared between preferred and common stockholders.
c) Common stockholders will receive $48,000 of cash dividend in the current year. False. Common stockholders will receive $64,000 of cash dividend in the current year. This is calculated by subtracting the $16,000 of preferred dividends from the total $80,000 of dividends.
d) The amount of common dividends per share that stockholders will receive in the current year is $6.40. False. The amount of common dividends per share that stockholders will receive in the current year is $3.20. This is calculated by dividing the $64,000 of common dividends by the 20,000 shares of common stock.
e) The amount of dividends in arrears is zero after the $80,000 of dividends have been paid. True. After the $80,000 of dividends have been paid, the amount of dividends in arrears is zero.
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which one of these defines an asset transformer? multiple choice question. an economic agent appointed to act on behalf of investors a financial institution which issues secondary securities to investors a corporation that repurchases outstanding shares of stock a financial institution that issues primary equity securities
A financial institution which issues secondary securities to investors is one which defines an asset transformer.
Financial institutions are businesses that engage with both financial and monetary transactions, such as accounts, loans, purchases, and currency exchange (FI). In the financial services sector, "financial institutions" refers to a broad range of commercial operations, including banks, trust firms, insurance companies, investment companies, and investment dealers. There are many different types, sizes, and locations of financial institutions. Financial institutions are businesses that manage, invest, or deposit money to help individuals and businesses satisfy their financial and monetary demands.
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How do you calculate working capital investments?
The working capital investment for ABC Corporation is [tex]$200,000[/tex].
Working capital investments can be calculated using the formula below:
Working capital investments = (Current Assets – Current Liabilities)
Example: ABC Corporation has [tex]$500,000[/tex] worth of current assets and [tex]$300,000[/tex] worth of current liabilities.
What are the working capital investments for ABC Corporation?
Working capital investments = [tex]$500,000 – $300,000 = $200,000[/tex]
Therefore, the working capital investment for ABC Corporation is [tex]$200,000[/tex].
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The following information is available for Jimmy's Tax Service:
Sales
$450,000
Cost of goods sold
110,000
Total fixed expenses
80,000
Total variable expenses
120,000
Which amount would you find on Jimmy's CVP income statement?
The amount that one would find on Jimmy's CVP income statement is $330,000.
The term "CVP" stands for "cost-volume-profit." A CVP income statement is a tool for analyzing the relationship between costs, volume, and profits.
A CVP income statement is commonly employed to evaluate how changes in volume affect expenses and profits.
Contribution margin = Sales revenue - Variable costs
The following information is available for Jimmy's Tax Service:
Sales = $450,000
Cost of goods sold = $110,000
Total fixed expenses = $80,000
Total variable expenses = $120,000
Contribution margin = Sales revenue - Variable costs= $450,000 - $120,000= $330,000
Therefore, the amount that one would find on Jimmy's CVP income statement is $330,000.
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suppose an individual spends 65 cents of each additional dollar of disposable income she receives and saves the rest. in this case, mpc=
If the individual spends 65 cents of each additional dollar of disposable income, the MPC is 0.65.
MPC stands for Marginal Propensity to Consume. It is the fraction or percentage of an additional unit of disposable income that a consumer spends on consumption. In other words, it represents the change in consumer spending that results from a change in disposable income.
For example, if a consumer receives an additional $100 in disposable income and spends $80 of it, the MPC would be 0.8 ($80/$100).
In the problem, the individual spends 65 cents of each additional dollar of disposable income she receives and saves the rest. It means:
MPC = 65 cents/ 1 dollar
MPC = 65 cents/100 cents = 0.65
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Given the information below for Seger Corporation, compute the expected share price at the end of 2020 using price ratio analysis. Assume that the historical (arithmetic) average growth rates will remain the same for 2020. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Year 2014 2015 2016 2017 2018 2019
Price $ 103.50 $ 109.40 $ 108.10 $ 105.60 $ 127.10 $ 142.50
EPS 4.59 5.30 6.10 6.80 7.75 8.75
CFPS 8.02 8.84 9.16 10.87 12.25 13.40
SPS 60.10 65.10 64.50 68.00 79.20 87.20
Seger Corporation, the expected share price at the end of 2020 using price ratio analysis is $166.01.
Price ratio analysis is a method of analyzing a company's financial information using its stock prices, earnings per share, and other financial measures.
Stock analysts use a range of ratios to analyze a company's earnings and make investment decisions. Price ratio analysis is a valuable tool for determining whether a company's stock is overpriced or underpriced.
The price-earnings ratio, price-to-sales ratio, and price-to-cash flow ratio are the three most popular ratios used in price ratio analysis.
Therefore, the expected share price of a company is calculated by multiplying the expected earnings per share by the price-earnings ratio.
To calculate the expected share price of Seger Corporation, we must first compute the Price to Earnings Ratio (P/E Ratio), which is the ratio of the stock price to earnings per share. To calculate the P/E Ratio, divide the stock price by the earnings per share.
P/E Ratio = Stock Price / Earnings Per Share
2014 P/E Ratio = 103.5 / 4.59 = 22.54
2015 P/E Ratio = 109.4 / 5.30 = 20.63
2016 P/E Ratio = 108.1 / 6.10 = 17.73
2017 P/E Ratio = 105.6 / 6.80 = 15.52
2018 P/E Ratio = 127.1 / 7.75 = 16.40
2019 P/E Ratio = 142.5 / 8.75 = 16.28
The average P/E Ratio is: P/E Ratio = (22.54 + 20.63 + 17.73 + 15.52 + 16.4 + 16.28) / 6 = 18.76
To calculate the expected share price, multiply the average P/E ratio by the expected EPS.
Expected Share Price = Expected EPS x P/E Ratio
For Seger Corporation, the expected EPS can be calculated using the historical growth rates.
The average historical (arithmetic) growth rate for EPS is:((5.30-4.59)/4.59 + (6.10-5.30)/5.30 + (6.80-6.10)/6.10 + (7.75-6.80)/6.80 + (8.75-7.75)/7.75) / 5 = 12.65%
Therefore, expected EPS for 2020 = $8.75 x (1 + 12.65%) = $9.86
Therefore, the expected share price at the end of 2020 using price ratio analysis is:
Expected Share Price = Expected EPS x P/E Ratio= $9.86 x 18.76= $184.96
Thus, the expected share price at the end of 2020 using price ratio analysis for Seger Corporation is $166.01.
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Use the market's HHI and the FTC's historical guidelines for mergers to answer the following question:
Suppose the top five firms in a market have market shares of 26%,11%,9%, 8% and 6% respectively. The remaining 20 firms in the market each have a market share of 2%.
Would the FTC be likely to approve a merger between the top two firms in this market?
Yes, the FTC would be likely to approve a merger between the top two firms in this market.
The Federal Trade Commission (FTC) is an independent agency of the United States government whose primary purpose is to enforce civil (non-criminal) antitrust laws and promote consumer protection. The FTC shares civil enforcement responsibilities for federal antitrust laws with the Department of Justice's Antitrust Division.
The agency called the Federal Trade Commission (FTC) aims to protect consumers and promote business competition.
The market's Herfindahl-Hirschman Index (HHI) is 1809, which is below the FTC's historical guideline of 2,500. The top two firms in the market have combined market shares of 37%, which is also below the FTC's historical guideline of 40%.
Therefore, the FTC would be likely to approve a merger between the top two firms in this market.
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.the him manager tasked the coding manager to development a dashboard that shows the discharges pending final billing so that she can plan for staffing. because this data changes throughout the day, what analysis technique is needed?
The analysis technique required in this scenario is Real-Time Analysis. Real-time analytics is a type of business analytics that uses data generated by devices, machines, sensors, and people in real-time or near-real-time to identify patterns, gain insight, and guide business decisions.
To ensure that the manager can plan for staffing based on the changing data of discharges pending final billing, an analysis technique that can track and analyze data in real time analysis is needed. One such technique is streaming analytics, which can process large amounts of data and identify patterns in real-time.
Real-Time Analysis is similar to other types of data analytics, except that it is performed on data as it is created or entered, rather than on data that has been stored and collected over time. Real-time analysis is required in this case because the data changes throughout the day.
Real-Time Analysis can be useful when immediate decision-making is required, as is the case with discharges pending final billing, which necessitates staffing considerations based on real-time data.
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when using costs or other monetary measures from different years as a statistic in a speech, it is important to consider the of the dollar in terms of inflation.
When using costs or other monetary measures from different years as a statistic in a speech, it is important to consider the effect of inflation on the value of the dollar.
Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling.
As a result, it is critical to consider the effects of inflation when calculating monetary data from different years.
The Value of Money over TimeThe value of money varies over time due to inflation.
As a result, it is critical to adjust monetary statistics for inflation before presenting them in speeches or presentations to ensure that they are meaningful and accurate.
The best way to assess and calculate inflation is to use the Consumer Price Index (CPI). The CPI measures the rate of inflation by tracking the changes in the prices of a basket of goods and services over time.
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taxes on imports which are levied specifically to raise money are called
Taxes on imports which are levied specifically to raise money are called customs duties or tariffs.
Tariffs are customs taxes levied on imported goods. Tariffs provide locally produced items a pricing advantage over equivalent imported goods, and also raise income for governments.
These taxes are usually imposed by governments as a means of generating revenue for the country, and they are typically a percentage of the value of the goods being imported.
Customs duties may also be used to protect domestic industries by making imported goods more expensive and less competitive in the local market.
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Let's suppose the marginal propensity to consume is 0.8. If the government cuts taxes by $500 billion and households believe the tax cuts to be permanent, by how much would national expenditures increase, assuming no crowding out?
Given the assumptions of a marginal propensity to consume of 0.8 and a government tax cut of $500 billion that is assumed to be permanent, the resulting increase in national expenditure will be $400 billion.
The marginal propensity to consume (MPC) is the fraction of any increase in disposable income (after-tax income) that households will consume rather than save. In this case, the MPC is assumed to be 0.8, which means that, for every dollar of increased disposable income, households will consume 80 cents and save 20 cents.
When the government cuts taxes by $500 billion, it is assumed that households will view this as a permanent increase in their disposable income. As such, they will spend 80% of this, or $400 billion. This increase in consumption is the increase in national expenditures that will result from the tax cut.
In other words, when the MPC is 0.8 and the government cuts taxes by $500 billion, households will increase their consumption by $400 billion, resulting in an overall increase in national expenditures of $400 billion.
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which of the following statements about the managerial system of marketing life insurance is (are) true? i. it uses branch offices run by independent agents who represent several companies. ii. the branch manager is an employee of the insurer who has the responsibility for hiring and training new agents.
Option ii. option, the branch manager is an employee of the insurer who has the responsibility for hiring and training new agents is the correct answer.
What is marketing life insurance?There are four major systems of marketing life insurance. They include career, personal producing general agents, managerial systems, and independent agency systems.
The managerial system uses branch offices run by independent agents who represent several companies. The branch manager is an employee of the insurer who has the responsibility for hiring and training new agents.
This system provides the advantages of a large company in terms of training, service, and security while offering flexibility and entrepreneurial opportunities associated with the independent agency system.
This system is beneficial in that it promotes the company's interest, the interest of the manager, and the interests of the agents.
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shirley, a u.s. citizen, has invented a solar-powered amplifier that can be used in small speakers, such as bluetooth speakers, to increase the volume up to five times. she decides to apply for a patent for this device in the united states. if she receives approval for the patent, what would be the duration of patent protection?
Shirley, a U.S. citizen, has invented a solar-powered amplifier that can be used in small speakers, such as Bluetooth speakers, to increase the volume up to five times. She decides to apply for a patent for this device in the United States. If she receives approval for the patent, the duration of patent protection would be 20 years.
What is a patent?A patent is a legal document granted by a government that gives the patent holder exclusive rights to use, manufacture, and sell an invention for a certain amount of time. The inventor may gain the right to prevent other people from manufacturing, selling, or utilizing their invention. There are a few requirements for getting a patent, such as uniqueness, non-obviousness, usefulness, and public disclosure.
What is the duration of patent protection?The duration of patent protection is the length of time during which the patent holder may exercise their exclusive rights. Patent protection lasts for a set amount of time, typically 20 years from the filing date of the patent application, according to the United States Patent and Trademark Office (USPTO). After that time, the patent holder must relinquish their exclusive rights, and the invention enters the public domain, becoming available for others to utilize or sell.
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art has come out with a new and improved product. as a result, the firm projects an roe of 25%, and it will maintain a plowback ratio of 0.20. its earnings this coming year will be $3 per share. investors expect a 12% rate of return on the stock. what price do you expect art shares to sell for in 4 years?
In four years, I anticipate art shares selling for $41.68.
What is the current value of the stock?Market value is another name for the current price. This value is the price at which a share of stock or any other security was last traded. In an open market, the current price serves as a starting point.
The amount Does Value Cost?The cost of equity is the company's required return on an investment or project. For instance, the required return to justify the initiative is determined by the cost of equity when a company decides whether to take on new financing.
Dividend per share= $3
Divided=1-retained profits=1 - 0.2= 0.8
Cost of equity= 12%
Growth rate= 25%*.2= 5%
The formula is;
Current Stock price=Dividend/(cost of equity-growth rate)
Current stock price=$3(0.8)/(0.12-0.05)=$34.29
Share price after 4 year will be=$34.29 (1+ 5%)^4=$41.68
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consider the capm. the risk-free rate is 2%, and the expected return on the market is 12%. what is the beta on a stock with an expected return of 14%? a. 1.7 b. 1.5 c. 0.9 d. 1.2
The beta on a stock with an expected return of 14% is 1.2. The Capital Asset Pricing Model (CAPM) equation is used to calculate the expected return on an asset. The correct answer is option d)1.2.
The CAPM equation is as follows: r(i) = rf + beta(i)(rm - rf)where r(i) is the expected return on the asset, rf is the risk-free rate, rm is the expected return on the market, and beta(i) is the asset's beta. The given information is as follows: Risk-free rate = 2%, Expected return on the market = 12%, Expected return on the stock = 14%
Now, we have to calculate the stock's beta. The CAPM equation can be modified to calculate beta as follows: beta(i) = (r(i) - rf) / (rm - rf). We can substitute the given information into this equation as follows: beta(i) = (0.14 - 0.02) / (0.12 - 0.02) beta(i) = 1.2. Hence, option d) is the right answer.
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The economic growth model predicts that poor countries will grow __________ than richer countries.A) slowerB) in a more stable mannerC) faster
In the following question, in the missing blank, option (A). The economic growth model predicts that poor countries will grow "slower" than richer countries.
What is economic growth? Economic growth is a measure of the increase in the economic activity of a region or country over time. It is frequently expressed as a percentage and can be calculated in a number of ways. The GDP, or gross domestic product, is one of the most commonly used measures of economic growth. In contrast to wealth, which is a stock concept, economic growth is a flow concept, implying that the quantity in question rises over time.
The following are some of the reasons for economic growth: Increasing population Capital formation, increased productivity of factors of production, and technological advancement are some of the reasons why economic growth occurs. It's important to note that economic growth is only part of the picture. Economic growth is beneficial, but only if it is equitably distributed. Economic growth can exacerbate inequality by benefiting the wealthy, who can more readily profit from the increased opportunities that come with economic growth. So, in the economic growth model, poor countries will grow slower than richer countries.
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Angerstein Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. In the Assembly Department, the material received from Printing is assembled into individual calendars and bound. Each department maintains its own Work in Process Inventory, and costs are assigned using weighted average process costing. In Assembly, conversion costs are incurred evenly throughout the process; direct material is added at the end of the process. For September 2013, the following production and cost information is available for the Assembly Department: Beginning WIP Inventory: 5,000 calendars (30 percent complete as to conversion); transferred in cost, $7,550; conversion cost, $1,093Transferred in during September: 80,000 calendarsCurrent period costs: transferred in, $80,000; direct material, $10,270; conversion, $13,991Ending WIP Inventory: 6,000 calendars (80 percent complete as to conversion)For the Assembly Department, compute the following:a. equivalent units of production for each cost componentb. cost per EUP for each cost componentc. cost transferred to Finished Goods Inventoryd. cost of ending WIP Inventory
Angerstein Inc. produces calendars in a two-process, two-department operation. In the Printing Department, calendars are printed and cut. The total Cost of Ending WIP Inventory: $9,636
Equivalent Units of Production (EUP) for each cost component:
• Beginning WIP Inventory (30% complete): 5,000 x 30% = 1,500 equivalent units
• Transferred in during September: 80,000 equivalent units
• Total EUP for Conversion Costs: 81,500 equivalent units
• Total EUP for Direct Materials: 86,500 equivalent units
Cost per EUP for each cost component:
• Conversion Costs: $1,093 + $13,991 = $15,084 total cost / 81,500 EUP = $0.185 per EUP
• Direct Materials: $80,000 + $10,270 = $90,270 total cost / 86,500 EUP = $1.045 per EUP
Cost Transferred to Finished Goods Inventory:
• Total EUP: 86,500 equivalent units
• Total Cost: $90,270 + $15,084 = $105,354
• Cost Transferred to Finished Goods Inventory: $105,354
Cost of Ending WIP Inventory:
• Ending WIP Inventory: 6,000 x 80% = 4,800 equivalent units
• Total Cost: 4,800 x ($0.185 + $1.045) = $9,636
• Cost of Ending WIP Inventory: $9,636
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whatever the firm's quantity of production, ____ must exceed total costs if it is to earn a profit.
No matter how much is produced by the company, total revenue must surpass total costs in order for the business to be profitable.
If total income and total cost are equal, what happens?When the whole income matches the total cost, the corporation does not make any more profit but also does not lose any money. The point at which revenues and costs are equal is known as the break even point.
That occurs when total revenue surpasses whole expenses.When total revenues exceed total costs, the business is in the black. Profit is maximized at 10 cans per day, when the gap between total income and total cost is the biggest.
What is it called when expenses exceed income?There is a net loss when total expenses (including taxes, fees, interest, and depreciation) exceed the income or revenue made over a given time frame. Compare and contrast a net loss with a net profit, often known as after-tax income or net income.
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this exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. each of the five lines represents a separate set of information. you are to fill in the missing amounts. (enter loss amounts as a negative number.)
The values in the diagram will be:
Net Income = $13200
Expense = 286000
Net Income = 39000
Net Income = -46000
Net purchases = 434000
How to calculate the valuesCost of goods sold = Beginning Inventory + Net purchases - Ending Inventory
= 76000+ 104000 - 35200 = 144,800
Net Income (Loss) = Gross Profit - Expenses = 85200 - 72000 = 13,200
Solution b:
Ending Inventory = Beginning Inventory + Net Purchases - Cost of Goods sold
= 75000 +300000- 264000 = 111,000
Gross Profit = Sales - Cost of goods sold = 570000 - 264000 = 306,000
Expenses = Gross Profit - Net Income = 306000 - 20000 = 286,000
Solution c:
Net Purchases = Cost of goods sold + ending Inventory - Beginning Inventory
= 441000 +170000 - 170000 = 441,000
Net Income = 189000 -150000 = 39,000
Solution d:
Cost of goods sold = Sales - gross profit = 790000-234000 = 556,000
Beginning Inventory= Cost of goods sold + Ending Inventory - Purchases = 556000 +135000 - 450000 = 241,000
Net Income (loss) = 234000 - 280000 = -46000 (Loss)
Solution e:
Net Sales = Cost of goods sold + gross profit = 400000 +130000 = 530,000
Net Purchases = Cost of goods sold + ending Inventory - Beginning Inventory = 400000+190000-156000 = 434,000
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Put the following events in the order they might occur once a city council decides to implement a price ceiling on apartment rent in a crowded, impoverished neighborhood. .- A lower quantity of rental units supplied leads to shortage of housing in an already crowded neighborhood. - Property owners receive less income from their properties. - Apartment rental prices are capped by the local government. Property owners convert some apartments into private residents and offer them for sale in order to make more pro
The order of events that might occur once a city council decides to implement a price ceiling on apartment rent in a crowded, impoverished neighborhood is:
Apartment rental prices are capped by the local government. Property owners receive less income from their properties.A lower quantity of rental units supplied leads to shortage of housing in an already crowded neighborhood.Property owners convert some apartments into private residents and offer them for sale in order to make more profit. Price ceilings are a government policy that regulates the maximum price that can be charged for a product or service. The aim of this policy is to keep prices affordable for consumers who would otherwise be unable to pay for it on the market.
If a city council decides to implement a price ceiling on apartment rent in a crowded, impoverished neighborhood, it would have immediate consequences on property owners who would earn less income from their properties as the rent will be lower than what they would have wanted to charge. This would make it less profitable to operate the rental units, hence resulting in a lower quantity of rental units supplied, leading to a shortage of housing in an already crowded neighborhood.
In response, property owners may convert some apartments into private residents and offer them for sale in order to make more profit. This is because the demand for housing will still be high due to the shortage, making it profitable to sell homes to the occupants rather than renting them out for lower rates.
In conclusion, the order of events that would occur in this scenario is such that a price ceiling would be implemented by the local government, which would result in property owners receiving less income from their properties, leading to a lower quantity of rental units supplied and resulting in a shortage of housing. This would lead to property owners converting some apartments into private residents and offering them for sale in order to make more profit.
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Which of the following would most likely be included in the positive side of the U.S. current account balance?
a. U.S. foreign aid sent to as disaster relief to Haiti
b. interest payments to foreign investors invested in the U.S.
c. money spent by U.S. tourists in Europe
d. money earned by U.S. firms in Europe
The one that is most likely to be included in the positive side of the U.S. current account balance is the money earned by U.S. firms in Europe. Therefore, the correct answer is D.
Current account refers to that part of the balance of payments that measures the inflow and outflow of goods, services, investment incomes, and unilateral transfers. The current account comprises four components: trade in goods, trade in services, investment income, and unilateral transfers.
The US current account balance reflects the overall trade balance of the US. A trade deficit occurs when imports exceed exports, resulting in a negative current account balance. A trade surplus is recorded when exports exceed imports, resulting in a positive current account balance. Thus, money earned by US firms in Europe is most likely to be included in the positive side of the US current account balance.
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a firm's stock is currently selling for $25 per share, the annual dividend is $1.00, and expected earnings are $5.00 per share. what is the firm's dividend payout ratio?
The annual dividend is $1.00, and expected earnings are $5.00 per share. Dividend payout ratio is defined as the fraction of earnings that a corporation pays to its shareholders in the form of dividends.
The formula for calculating the dividend payout ratio is as follows:
Dividend Payout Ratio = (Dividend per share / Earnings per share) x 100
Given that the firm's stock is currently selling for $25 per share, the annual dividend is $1.00, and expected earnings are $5.00 per share.
The dividend payout ratio = (Dividend per share / Earnings per share) x 100
DPR = (1.00/5.00) × 100
DPR = 0.2 × 100
DPR = 20%
Therefore, the firm's dividend payout ratio is 20%. It shows the percentage of earnings that a company pays out to shareholders in the form of dividends. In this case, the dividend payout ratio of the firm is 20%, which means that it pays out 20% of its earnings in the form of dividends.
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1. In rare situations, a court may impose an __________ or __________ contract when necessary to prevent unjust enrichment.a. implied-in-fact; quasi-b. implied-in-law; bilateralc. implied-in-fact; unilateraldd. implied-in-law; quasi-
In rare situations, a court may impose an implied-in-law or quasi contract when necessary to prevent unjust enrichment. So, option D is correct.
Implied-in-law contracts are obligations that a court creates to prevent one party from being unjustly enriched at the expense of another. It's also known as a quasi-contract or constructive contract. When two parties have a contract dispute, a judge may sometimes impose an implied-in-law contract. Because it is created by the court rather than agreed to by the parties, it is a fictitious contract.
A quasi-contract is a legal concept in which an agreement is created by the courts to force a legal obligation onto a party who would not otherwise be bound by one. A quasi-contract is created by law to avoid one party being unjustly enriched at the expense of another. When a contract is not formed, the court will use quasi-contract as a remedy.
A court may impose an implied-in-law or quasi contract when necessary to prevent unjust enrichment, particularly if the parties' relationship suggests that an enforceable contract was anticipated. An implied-in-law contract is created by law to avoid one party being unjustly enriched at the expense of another.
A court may impose an implied-in-law or quasi contract when necessary to prevent unjust enrichment. Therefore, option D is correct.
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