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Related Questions
Hyundai Motors is considering three sites—A, B, and C—at which to locate a factory to build its new-model automobile, the Hyundai Sport C150. The goal is to locate at a minimumcost site, where cost is measured by the annual fixed plus variable costs of production. Hyundai Motors has gathered the following data: ••• 8.18 SITE A B C ANNUALIZED FIXED COST $10,000,000 $20,000,000 $25,000,000 VARIABLE COST PER AUTO PRODUCED $2,500 $2,000 $1,000 The firm knows it will produce between 0 and 60,000 Sport C150s at the new plant each year, but, thus far, that is the extent of its knowledge about production plans. a) For what values of volume, V, of production, if any, is site C a recommended site? b) What volume indicates site A is optimal? c) Over what range of volume is site B optimal? Why?
Answers
The volume of production that illustrates that site C is a recommended site is 10000 automobiles.
How to calculate the production?The total cost of A will be:
= 2500x + 10000000
The total cost for B will be:
= 2000x + 20000000
The total cost for C will be:
= 1000x + 250000
The volume, V, of production, if site C is a recommended site. The value will be:
2500x + 10000000 = 1000x + 25000000
2500x - 1000x = 25000000 - 10000000
1500x = 15000000
x = 15000000/1500
x = 10000 automobiles
The volume indicates site A is optimal is also 10000 automobiles.
In conclusion, sure B would not be attractive at any volume of production as the costs will be higher than the cost of site A.
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Bob Martino has a home mortgage on a vacation home with ABC Co., a local credit union. Which condition would allow him to work on the firm's audit of ABC?
1) No condition would allow him to work on the audit.
2) He will charge less than 20 hours to the credit union's audit.
3) His loan is not material to his net worth.
4) He is not the lead engagement partner or manager on the account.
Answers
Based on the information, the condition that would allow him to work on the firm's audit of ABC is His loan is not material to his net worth. Thus the correct option is D.
Bob Martino would need permission from ABC management in order to participate in the corporate audit of ABC Co., a financial institution.
Bob Martino would need permission to refrain from using any private information gained from the credit union audit for his or her own benefit in order to qualify for the exemption.
The auditing company would need to determine whether his loan is material to his net worth in order to make sure he is not swayed by his own financial interests.
Therefore, option D is appropriate.
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Vintage Manufacturing Inc makes a product which goes through three processesShaping, Baing and Packaging On May 1, 2023, Vintage Manufacturing Inc. had 120,000 units in its work in processInventory, 100% complete with respect to materials and 20% complete with respect to Conversion costs The beginning inventory. materials was valued at $130,000 and conversion:$33.600. During May, 160,000 units were startedin the Shaping Department with 170,000 units transferred to the Baking department during the month. The total cost of material is S570,000 and the total Conversion cost is S1,036.400 Materials are added at the beginning of the process. On May 31, 2023 the company's ending work in procesS was 40% complete as to conversion cost and 100% complete as to materials Required: Using the above information complete the Production Cost Report for the Shaping department
Answers
The Production Cost Report for the Shaping department is as follows:
Vintage Manufacturing Inc. - Production Cost Report (Shaping Department)
------------------------------------------------------------
Units:
- Beginning Inventory: 120,000 units
- Units started: 160,000 units
- Units transferred out: 170,000 units
- Ending Inventory: 110,000 units
Costs:
- Beginning Inventory:
- Materials: $130,000
- Conversion: $33,600
- Current Costs:
- Total Materials Cost: $570,000
- Total Conversion Cost: $1,036,400
Cost per Equivalent Unit:
- Materials: $570,000 / (160,000 + 120,000) = $1.71 per unit
- Conversion: $1,036,400 / (160,000 + 120,000) = $3.13 per unit
Cost Assignment:
- Transferred out:
- Materials Cost: 170,000 units x $1.71 per unit = $290,700
- Conversion Cost: 170,000 units x $3.13 per unit = $531,100
Ending Inventory:
Materials Cost: 110,000 units x $1.71 per unit = $188,100
Conversion Cost: 110,000 units x $3.13 per unit x 40% complete = $137,720
The Production Cost Report for the Shaping department provides information on the units and costs involved in the manufacturing process.
It shows the quantity of units in different stages, including the beginning and ending inventories, units started, and units transferred out. The report also breaks down the costs into materials and conversion costs.
To calculate the cost per equivalent unit, the total materials and conversion costs for the period are divided by the equivalent units of production (units started plus beginning inventory).
This helps in determining the cost per unit for both materials and conversion.
The cost assignment section calculates the cost of the units transferred out and the ending inventory.
For the units transferred out, the cost per unit is multiplied by the number of units transferred. For the ending inventory, the cost per unit is multiplied by the remaining units in inventory and the percentage of completion for conversion costs.
In this case, the Shaping department had a beginning inventory of 120,000 units. During May, 160,000 units were started, and 170,000 units were transferred out.
The ending inventory was 110,000 units. The costs were allocated accordingly, taking into account the cost per unit and the percentage of completion.
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Alfred E. Old and Beulah A. Crane, each age 42, married on September 7,2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorce from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2019 is $150,000. He is an executive working for Cherry.Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society.Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They received $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Compute the Old's net tax payable (or refund due) for 2019. Suggested software: ProConnect Tax Online
Answers
To compute the Olds' net tax payable (or refund due) for 2019, we need to gather all the relevant information and calculate their taxable income, apply the appropriate tax rates, deductions, and credits. Since the tax calculation involves various factors and tax laws, it would be best to use tax software such as ProConnect Tax Online or consult with a tax professional. The software will streamline the process and ensure accurate calculations based on the specific tax laws and regulations applicable to the Olds' situation.
What action should a project manager take to ensure effective project governance?
Answers
Answer:
Prioritize clear, reachable, and sustainable goals during the closing phase
Leo is working on setting up a new network for his company. Every time he tries to connect the computers together, he finds another error. Leo is frustrated and walks outside to clear his head. What could Leo do next to show that he can display perseverance?
Question 8 options:
Leo should quit because he obviously cannot do the job.
Leo should take the rest of the day off to relieve some stress.
Leo should go back in and try again once he has gathered his thoughts.
Leo should tell another engineer to fix the problem.
Answers
Taking a break to clear his head and relieve some stress is a good idea, but it should not be the end of his efforts. After taking a break, Leo should go back in and try again, using the time away to gather his thoughts and approach the problem with renewed energy. Option 3
Leo's frustration with the constant errors in setting up the new network is understandable. However, displaying perseverance in this situation would require him to keep trying and not give up until the network is successfully established.
Giving up and quitting is not an option if Leo wants to display perseverance and prove his capability. It may also be helpful for Leo to seek assistance from his colleagues or superiors who may have more experience in setting up networks.
By continuing to work towards establishing the new network despite the setbacks, Leo can show that he has perseverance and is willing to put in the effort required to get the job done. It may take some time and patience, but eventually, Leo's persistence and dedication will pay off, and the network will be successfully set up, providing a significant benefit to his company.Leo should go back in and try again once he has gathered his thoughts.Option 3
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Q1: Torville Company's contribution margin income statement is presented below.
Sales for the current period consisted of 5,000 units. Determine the company's
break-even point in dollars.
Torville Company
Contribution Margin Income Statement
Sales
Variable costs
Contribution margin
Fixed costs
Sales : $125000
Variable cost : $90000
Contribution margin : $35000
Fixed cost : $28000
Net income: $7000
Net income
S125,000
20.000
35,000
28.000
$7.000
Answers
Based on the sales and the contribution margin, the breakeven point in dollars is $28,000
The breakeven point can be found as:
= Fixed cost / Contribution margin per unit
Breakeven point is therefore:
= 28,000 / (35,000 / 5,000 units)
= 4,000 units
This amount in dollars is:
= (4,000 x (Sales revenue - Variable cost / Number of sales))
= 4,000 x (125,000 - 90,000/ 5,000)
= $28,000
In conclusion, the breakeven point is $28,000
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What is installment debt?
Answers
no se inglés mano / I don't know English, I'm from Mexico
Answer:an installment is a loan that is repaid in regular installments.
Explanation:meaning of installment a sum of money due as one of several equal payments of something
What is the difference between final goods and intermediate goods?
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A) Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use.
B) Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods.
Final goods and intermediate goods are terms used in economics to distinguish between different types of goods in the production process. Here's a breakdown of the difference between the two:
1. Final Goods:
Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use. These goods are ready for consumption and do not undergo further processing or transformation before reaching the final consumer. Examples of final goods include food products, clothing, electronics, furniture, and vehicles. Final goods are the end result of the production process and are intended for final consumption or use.
2. Intermediate Goods:
Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods. They are not intended for final consumption but are instead used as raw materials, components, or capital goods in the production process. Intermediate goods undergo further processing or transformation before being included in the final goods. Examples of intermediate goods include raw materials like steel or wood, components like circuit boards or engines, and machinery or equipment used in production.
The key distinction between final goods and intermediate goods lies in their purpose and stage in the production process. Final goods are produced for the ultimate satisfaction of consumers' needs and are ready for consumption, while intermediate goods are used in the production of other goods and undergo further processing.
It's important to note that when calculating a country's Gross Domestic Product (GDP), only the value of final goods is considered. Intermediate goods are excluded to avoid double-counting, as their value is already included in the final goods they contribute to. By focusing on final goods, GDP provides a measure of the value of goods and services produced for final consumption in an economy.
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Which sector would make the most sense for someone who intends to create their own line of apparel and handmade jewelry?
1.) Tech Product
2.) Education
3.) Physical Product
4.)Service
Answers
Answer:
3
Explanation:
Physical Product
Managers need to build ____ by working on strong, constructive, and mutually beneficial relationships. a. groupthink b. social capital c. organizational politics d. informal groups e. nonconforming roles
Answers
b. Social capital
Q: In about 200 words, write an essay analyzing the STEEPLE Module .
Students are required to define each key concept (STEEPLE) and to illustrate all concepts with examples. (40%)
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The STEEPLE model is a very complete model that can be used to analyze the factors that affect a specific situation.
What is the STEEPLE model?This is an analysis model in which each letter represents a factor to be analyzed:
SocialTechnologyEconomicEnvironmentalPoliticalLegalEthicalWhat is an example of this model?Let's analyze a war between two countries:
Social: The families are negatively affected by the war.Technology: Weapons and other technologies are used as part of the war.Economic: The economy of the countries involved and other nearby countries can be negatively or positively affected.Environmental: There is pollution due to waste derived from weapons.Political: Most wars are the result of political conflicts.Legal: There are specific international rules that regulate wars.Ethical: The use of weapons against a population rises ethical concerns and dilemmas.Learn more about analysis in: https://brainly.com/question/5040600
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James works as a distribution manager at a very large port. He oversees the storage of shipping containers that have been offloaded from large carriers and directs which trucking company will take the containers further along their path to the consumer. The pathway in the Transportation and Logistics cluster that James’s job falls into is _____.
Facility & Mobile Equipment Maintenance
Logistics, Planning and Management Services
Transportation and Operations
Warehousing & Distribution Center Operations
Answers
Distribution management refers to the process of overseeing the movement of goods from supplier or manufacturer to point of sale. It is an overarching term that refers to numerous activities and processes such as packaging, inventory, warehousing, supply chain, and logistics.
A customer reward program can be useful because it
Answers
Rewards programs are important for brands because they encourage customer loyalty, help track spending patterns, and provide valuable feedback. By offering rewards, brands can foster a sense of community and connection with their customers that goes beyond the simple exchange of goods or services for money
If Amelia would like to double her money in twelve years, how much interest does she need to earn O 12 percent O 16.6 percent O 6 percent 10 percent
Answers
Out of the given answer choices, the interest rate that Amelia needs to earn to double her money in twelve years is 16.6 percent.
To find out how much interest Amelia needs to earn to double her money in twelve years, we need to use the compound interest formula.
This formula is used to determine the future value of an investment based on the principal, the interest rate, the number of compounding periods, and the time involved.
The formula is as follows: FV = PV x (1 + r/n)^(n*t)where FV = future value, PV = present value (the amount of money Amelia currently has), r = annual interest rate, n = number of times the interest is compounded per year, and t = time in years.
To double her money, Amelia needs to have a future value that is twice her present value. Therefore, we can set FV = 2PV and solve for r.
2PV = PV x (1 + r/n)^(n*t)Dividing both sides by PV, we get:2 = (1 + r/n)^(n*t)
Taking the natural logarithm of both sides, we get: ln(2) = ln[(1 + r/n)^(n*t)]
Using the power rule of logarithms, we can simplify the right side of the equation to ln(2) = (n*t) ln(1 + r/n)
Dividing both sides by (n*t), we get:ln(2) / (n*t) = ln(1 + r/n)
Finally, we can solve for r by raising both sides as the power of e: e^(ln(2) / (n*t)) = 1 + r/n
Subtracting 1 from both sides and multiplying by n, we get:r = n x (e^(ln(2) / (n*t)) - 1)
Plugging in the values given, we get:r = n x (e^(ln(2) / (n*12)) - 1)
We don't know the value of n, so we can try each of the answer choices to see which one gives us a value of r that works.
Using a financial calculator or a spreadsheet program like Excel, we can calculate the values of r for each interest rate.
Using 12 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0956 or 9.56 percent
Using 16.6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.1407 or 14.07 percent
Using 6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0488 or 4.88 percent
Using 10 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0794 or 7.94 percent
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Which TWO are benefits of using Angel investors to help start a business?
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The benefits of using angel investors to start a business are:
Angel investors can provide their wisdom and experience to the business owner.Using angel investors is less expensive when compared to taking loan.Who are angel investors?Angel investors are high worth individuals who give out their funds to business owners usually for exchange for a stake in the business.
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Personal Impact Improvement Plan. Think about the tips for how to live an environmentally friendly life and set goals for your own improvement. Be specific and realistic for your life.
Answers
A Personal Impact Improvement Plan is a means of making small lifestyle changes to reduce one's impact on the environment. It is a series of simple lifestyle changes that can make a huge difference. An environmentally friendly lifestyle is beneficial for the environment, our health, and the economy.
Following are some tips for living an environmentally friendly life: Reducing water usage: Water is an essential natural resource. Conserving water saves money and energy while protecting the environment. This can be achieved by reducing shower times, using a low-flow showerhead, and fixing leaky taps. Reducing energy usage: The use of energy affects the environment, both locally and globally.
By conserving energy, we can save on our energy bills and reduce pollution. This can be achieved by using energy-efficient lighting, unplugging electronics when not in use, and reducing heating and cooling requirements.
Reducing plastic usage: Plastic waste is a significant problem for the environment. It takes a long time to decompose, and it is not biodegradable. This can be achieved by using reusable bags, bottles, and straws.
Reducing carbon emissions: Carbon dioxide is a greenhouse gas that contributes to climate change. This can be achieved by walking, cycling, or taking public transport instead of driving and reducing air travel.
Setting goals for your own improvement is essential. Specific, realistic, and achievable goals can be set to make lifestyle changes more manageable.
The goals should be tailored to the individual and their circumstances. For example, a person can aim to reduce their energy consumption by 10% by using energy-efficient lighting and unplugging electronics when not in use.
Another person can aim to reduce their water usage by fixing leaky taps and reducing shower times. It is important to remember that small changes can make a big difference, and everyone can do their part to help the environment.
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The Consumer Product Safety Commission (CPSC) does not
O have seven commissioners
O appoint its commissioners for seven-year terms
O ensure that products have adequate warnings and instructions
O represent an independent regulatory commission
Answers
No independent regulatory body is represented by the Consumer Product Safety Commission (CPSC).
What is the product?The object being sold is referred to as a product. A service or an object both qualify as products. It could take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that can be charged.
A safe product is one that, while taking into account the regular or reasonably anticipated usage of the product and the requirement to maintain a high degree of protection for consumers, offers either no risk or a minimum tolerable level of risk.
The Consumer Product Safety Commission (CPSC) protects the public from unreasonable risks of serious injury or death from thousands of types of consumer products under its jurisdiction, including products that pose a fire, electrical, chemical, or mechanical hazard or can injure .
Therefore, Thus option (D) is correct.
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The market value of the Blackwell Corporation just declined by 5 percent. Analysts believe this decrease in value was caused by recent legislation passed by Congress. Which type of risk does this illustrate?
a. Diversifiable risk
b. Purchasing power risk
c. International risk
d. Poltical risk
e. Exchange rate risk
Answers
Answer:
Option d: Political risk
Explanation:
Political Risk is simply defined as likelihood of disruption of the operations of MNEs by political forces or events. It is termed as action of a government that limits firm value.
Governments intervene in subtler but just as costly ways today leading to:
- Tax and royalty increases
- Partial/Full nationalizations
- Breach of contract and others
When an employee leaves a position, how should the human resources department respond?
A. Post a job description to fill the position as quickly as possible.
B. Review the position to determine whether and when the position
should be filled again.
C.Train another employee to fill the position as quickly as possible.
D. Meet with college career advisors to advertise the position.
Answers
When an employee leaves a position, the right response of the human resources department will be to review the position to determine whether and when the position should be filled again.
What is the role of human resources department?In management, a Human resources refers to the division of a business that is charged with finding, screening, recruiting as well as training the job applicants. The HR managers also administers employee-benefit programs.
The department of human resources HR is an essential component of any business regardless of an organization's size. The department is mainly tasked with maximizing employee productivity and protecting the company from any issues that may arise within the workforce.
In conclusion, these HR managers plays an important role in helping companies deal with a fast-changing business environment and a greater demand for quality employees in the 21st century.
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Answer:
B. - Review the position to determine whether and when the position should be filled again.
Explanation:
The table below shows the total expenditure on a basket of goods and services; use this information to calculate the index number for the cost of a basket of goods and services in period 2, assuming Period 1 is the base year. (Round to 1 decimal place.)
Answers
Since Period 2 is the base year, so, index number for Period 2 will be 100 for the given information in Expenditure table.
for period 1 ,
Total Expenditure = $3,100
Index Number = 3100/3350×100
=92.537
for period 2,
Total Expenditure = $3,350
Index Number = 3350/3350×100
= 100
for period 3,
Total Expenditure = $3,400
Index Number = 3400/3350×100
= 101.492
for period 4,
Total Expenditure = $3,500
Index Number = 3500/3350×100
= 104.47
Index numbers are statistical measures that express changes in the value of a variable or a group of variables over time. They are used to compare the value of a particular variable at different points in time or across different regions or groups. Index numbers are useful in economics and other fields where there is a need to track changes in the value of a variable over time or across different units of observation. Common examples of index numbers include price indices, inflation indices, and stock market indices.
the complete question is:
The table below shows the total expenditure on a basket of goods and services; use this information to calculate the index number for the cost of a basket of goods and services in period 2, assuming Period 1 is the base year. (Round to 1 decimal place.)
Total Expenditure Index Number
Period 1 $3,100
Period 2 $3,350
Period 3 $3,400
Period 4 $3,500
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Why would a winning scratch off ticket come back.as.invalid after you won?
Answers
There could be several reasons why a winning scratch-off ticket might be declared invalid. Some possible reasons include:
altered or damaged ticketillegal purchasea counterfeiterror in distributionHow could these reasons bring about an invalid ticket?The following demonstrate how a ticket could be invalid after winning:
1. The ticket was damaged or altered in some way, making it difficult for the lottery machine to read it correctly.
2. The ticket was purchased illegally, and therefore is not valid for redemption.
3. The ticket was a counterfeit, and therefore is not a legitimate winning ticket.
4. There was an error in the printing or distribution of the ticket, which resulted in it being declared invalid.
If you believe that you have a winning ticket that has been declared invalid, you should contact the lottery office for more information. They may be able to provide you with more information about why your ticket was declared invalid, and what steps you can take to resolve the issue.
Therefore, the correct answers are as given above
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For each set of opportunities and threats business organizations should consider Select one or more: a. introducing innovations b. repositioning products and services c. not changing organizational structures d. changing organizational structures e. reduce innovation initiatives f. extending or contracting global operations
Answers
Answer:
a. introducing innovations
b. repositioning products and services
c. not changing organizational structures
d. changing organizational structures
f. extending or contracting global operations
Explanation:
Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.
The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.
Generally, the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.
For each set of opportunities and threats business organizations should consider the following;
I. Introducing innovations
II. Repositioning products and services
III. Not changing organizational structures
IV. Changing organizational structures
V. Extending or contracting global operations.
A Student Aid Report (SAR)What is Anna’s DRN? What is the purpose of this number?
Answers
Your individual 4-digit code on the FAFSA confirmation page and your Student Aid Report are referred to as your "DRN" or "Data Release Number" (SAR). Your identification is ensured by the 4-digit code.
What does the DRN number serve?Your application will be granted a four-digit Data Release Number (DRN) by Federal Student Aid. If you want to make adjustments to your FAFSA information, you can do so by giving your DRN to a customer service representative.
My FAFSA data Release number is where can I find it?Federal Student Aid issues applications with a four-digit identifier called a Data Release Number (DRN). Only the student can see the DRN, which is printed on the student's confirmation page and the top right corner of the Student Aid Report (SAR).
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Which of the following skills are important for job interviews?
Answers
When a manager uses positive and negative reinforcements to change an employee’s performance, the manager is using ____________________.
A. job design
B. behavior modification
C. goal setting
Answers
The manager uses behavior modification if he uses positive and negative reinforcements to change an employee’s performance.
Behavior modification refers to the process of changing the patterns of human behavior over long term through the use of various techniques.
Usually, the consequences are is used for negative reinforcement while the rewards are used for positive reinforcement.
Therefore, the answer is B. because the manager uses behavior modification if he uses positive and negative reinforcements to change an employee’s performance.
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By matching revenue earned during the accounting period to related incurred expenses
a.net income or loss will always be overestimated
b.net income or loss will be properly reported on the income statement
c.net income or loss will always be underestimated
d.net income or loss will not be determined
Answers
2. Fees received but not yet earned.Unearned revenue
3. Fees earned but not yet received.Accrued revenue
4. Premium paid on a one-year insurance policy.Prepaid expense
5. Rent received in advance for rental of office space.Unearned revenue
6. Supplies on hand.Prepaid expense
7. Rent paid in advance.Prepaid expense
8. Wages owed but payable in the following period
Net income or loss will be properly reported on the income statement by matching revenue earned during the accounting period to related incurred expenses.
According to Matching concept in Accounting, Expenses and related revenue must be recorded in the same accounting period.
The purpose of this concept is to avoid possible mis-statement of earnings for a period.Adhering to this concept ensures proper entry into the income statement.In short, revenues and expenses must recognized in the same period.In conclusion, the net income or loss will be properly reported on the income statement if the concept are used.
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Explain why many countries choose to create trade agreements?
Answers
Answer:
Explanation:
many countries choose to create trade agreements because this allows unlimited
Imports and exports of goods . And the cost of trade is usually low hence it gives countries the opportunity to engage in the act with other countries.but while that may sound like a good thing note that everything hv their advantages and disadvantages
- trade is a really important factor towards development. when countries trade, it lets them get the resources they don't have and build a good relationship with other countries.
warfaa is setting up anew business. before selling anything he bought avan for $4500,a shop for $2000 and stock of good for $1500, he did not pay in full for the stock and still ownest $1000 from respect of them . he borrowed $5000 from farah . after the events just described and before trading start he has 400 cash in hand and 1100 cash at bank , calculate warfaa's capital.
Answers
Answer:
$3,500
Explanation:
Calculation for warfaa's capital
ASSETS
Cash $1,500
($400+$1,100)
Inventory $1,500
Fixed Assets $6,500
($4,500 + $2,000)
Total Assets $9,500
($1,500+$1,500+$6,500)
LIABILITIES
Notes Payable $5,000
Accounts Payable $1,000
Total Liabilities $6,000
($5,000+$1,000)
CAPITAL $3,500
($9,500-$6,000)
Therefore warfaa's capital is $3,500
There are three different types of business ownerships: Sole Proprietorship, Partnerships and Corporations. Explain why different types of businesses exist, and why a business might choose one type of ownership over the other
Answers
Different types of businesses exist to accommodate varying needs, goals, and circumstances of entrepreneurs and business owners. The choice of business ownership is influenced by several factors, including liability, taxation, management structure, and long-term business objectives.
Sole Proprietorship:
A sole proprietorship is the simplest form of business ownership, where a single individual owns and operates the business. This type of ownership may be preferred for the following reasons:
Ease of formation: Sole proprietorships are easy and inexpensive to set up compared to other types of ownership structures.
Complete control: The owner has full control over decision-making and business operations.
Tax advantages: Sole proprietors can benefit from certain tax advantages, such as reporting business income on their personal tax return and potentially offsetting losses against other income.
Partnerships:
Partnerships involve two or more individuals who come together to carry out a business venture. Partnerships offer the following advantages:
Shared responsibility and expertise: Partners can contribute different skills, resources, and expertise to the business.
Shared risk and liability: Partnerships distribute the business's risks and liabilities among the partners, which can provide a level of protection for individual partners.
Flexibility: Partnerships can be relatively easy to establish and dissolve, providing flexibility for collaboration on specific projects or ventures.
Corporations:
Corporations are separate legal entities distinct from their owners/shareholders. They are often chosen for the following reasons:
Limited liability: Shareholders' personal assets are generally protected from the corporation's debts and liabilities, limiting personal risk.
Access to capital: Corporations can issue shares of stock to raise funds and attract investors. This makes it easier to access capital for growth and expansion.
Perpetual existence: Corporations can continue to exist even if the ownership or management changes, providing stability and continuity.
It's important to note that each business structure has its own advantages and disadvantages, and the choice depends on the specific circumstances, goals, and preferences of the business owners. Consulting with legal and financial professionals can help entrepreneurs make informed decisions about the most suitable business ownership structure for their particular situation.
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