The amount due each month is $1,218.86. The time frame from the first point of credit to the transaction's eventual maturity is referred to as the "repayment term."
The accomplishment of the exporter's obligation under the export contract is often the starting point of credit (e.g., shipment or project completion). Repaying a loan involves paying back the money you borrowed from a lender plus any relevant interest. The repayment plan often consists of a set process (referred to as a loan payback schedule) in the form of equivalent monthly installments, or EMIs.
The monthly payment computation is displayed below;
Here RATE = 9% divided by 12 equals 0.75%.
PV = -$90,000 FV = $0 NPER = 9 x 12 = 108
the following formula;
=PMT(RATE,NPER,PV,FV,TYPE)
When the aforementioned calculation is used, the monthly payment is $1,218.86
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Which of the following sets of events must cause an increase in the price of a new house?
a. higher wages for carpenters, higher wood prices, increases in consumer incomes, higher apartment rents, increases in population, and expectations of higher house prices in the future
b. lower wages for carpenters, lower wood prices, increases in consumer incomes, higher apartment rents, increases in population and expectations of higher house prices in the future
c. lower wages for carpenters, higher wood prices, decreases in consumer incomes, higher apartment rents, decreases in populations and expectations of higher house prices in the future
d. higher wages for carpenters, lower wood prices, decreases in consumer incomes, lower apartment rents, decreases in population and expectations of lower house prices in the future
population growth, rents, and anticipated future rises in home prices.
In a market quizlet, what factors cause a product's price to rise?More purchases are made as the number of customers for a particular product rises. As a result, regardless of price, the volume of the product demanded rises. (AKA AN INCREASE IN DEMAND.) a rise in the quantity of a product at all prices that is desired.
Which of the following conditions would result in an increase in the equilibrium price?growing demand
The equilibrium price will rise due to an increase in demand while remaining constant in all other respects, increasing supply. The equilibrium price will drop with a drop in demand, and supply will increase less than demand.
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Which of the following statements about cultural differences in the workplace is most accurate? Select one:
A. Managers must be very aware of cultural differences and recognize that different employees may respond best to different management and motivational styles.
B. The best way to deal with cultural differences in the workplace is to treat everyone the same way.
C. Cultural differences were once a major problem, but television, telecommunications, e-mail, and the Internet have brought people closer together and greatly reduced cultural differences.
D. Only firms that hire a lot of foreign-born workers are likely to have problems dealing with cultural differences. Workers born in Canada tend to have a common set of values and attitudes, regardless of age or social background.
cultural differences in the workplace is most accurate A. Managers must be very aware of cultural differences and recognize that different employees may respond best to different management and motivational styles.
The process of mixing various inputs, both real and intangible (such plans or knowledge), is known as production (such as metal, wood, glass, or polymers). In a perfect world,workplace this output would be a high-quality or worthwhile good or service. [1] Production theory is the branch of economics that focuses on production; it is closely related to consumption theory, sometimes known as consumer theory. The manufacturing process and product are the results of the efficient use of the original inputs (or factors of production). Primary producers of products and services are the three fundamental production factors—land, labor, and capital.
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Zelda was approved for a $3,000, two-year, 11 percent loan with the finance charges figured using the discount method. How much cash will Zelda receive from this loan
According to the question, elda will receive $2,730 in cash from this loan.
What is loan?Loan is a type of financial assistance given to an individual or entity in exchange for a promise of future repayment of the principal amount along with interest. Loan is a type of credit and can be used for a variety of purposes such as purchase of goods and services, investment in businesses, debt restructuring, and more. Loan can be taken from a financial institution like banks, credit unions, and other lenders.
This is because finance charges are figured using the discount method, meaning that the lender charges a fee (the discount) to provide the loan. In this case, the discount is $270, which is deducted from the loan amount of $3,000. Therefore, Zelda will receive $2,730 in cash from the loan.
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The following are national income account data for an economy in billions of dollars: personal consumption expenditures $2,460, gross private domestic investment $320, government purchases $470, exports $22, and imports $35. What is GDP for this economy
The GDP for this economy will be $3,237billions at personal consumption expenditures $2,460 and gross private domestic investment $320.
given data;
personal consumption expenditures = $2,460
gross private domestic investment = $320
government purchases = $470
government exports = $22
government imports = $35
the formula for gdp will be:
GDP = G + I + C + (X-M)
= $470 + $320 + $2,460 + ($22-$35)
= $3,250 - $13
=$3,237billions.
Gross domestic product (GDP) is the total monetary worth, or market value, of all completed products and services produced inside a nation's boundaries over a certain time period. It serves as a thorough assessment of a particular country's economic health as a broad indicator of entire domestic production. Despite being computed on an annual basis in the majority of cases, GDP is also occasionally estimated on a quarterly basis. The government of the United States, for instance, produces an annualised GDP estimate for both the calendar year and each fiscal quarter. Since each piece of data in this report is presented in actual terms, price changes are taken into account while calculating the data, which results in data that is net of inflation.
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Glen has taken his team through the marketing research process for their company and crunched the data to find the correlations of customer and product relationships. He is now ready to present his findings to management? After his analysis, what next step will the management team take?
After the analysis, the next step to be taken by Glen would be to work on the discovered research and take actions for enhance growth.
A research wing in any organization plays a crucial role as it helps to rediscover new ideas and correlations and also the analysis of data on several fronts can help in engaging greater results as output. The data can be presented in the form of presentations with real time analysis. This quantitative research can help in identification of bigger roles which the marketing team can play in increasing their profits. Market research is a systematic process of collecting, analyzing and interpreting information on the real time scale.
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Peter is the owner of a fast-food franchise. When his payroll accountant quit, he hired his wife, Karen, to take over the payroll responsibilities. Peter prefers to review the payroll records prior to disbursement and often asks Karen to add or subtract amount from employee pay. Which ethical principle most closely describes Peter and Karen's unethical actions
Peter is the owner of a fast-food franchise. A) Objectivity and Independence most closely describes Peter and Karen's unethical actions.
Since we are independent and objective auditors, we do not go to a location with a certain goal in mind. It denotes that judgments will be reasonable and unbiased, supported by facts, and not unduly affected by management or interpersonal ties.
It implies that suggestions will be made with the client's best interests in mind. There are several ways that independence and/or objectivity might be compromised, whether it's at the corporate or personal level.
Senior management may try to restrict the scope of a review, restrict the auditor's access to records, or refuse to assist the auditor in understanding transactions or procedures at the organizational level.
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Generally, the most important category on the statement of cash flows is cash flows from:
a. non-cash activities.
b. operating activities.
c. financing activities.
d. investing activities.
The most important category of the cash flow statement is usually cash flow from operating activities. This is to give you an idea of the cash generated by your company's core activities.
Option B is correct .
The most important stream category on the cash flow statement is operational cash flow. This category is the main focus of anyone running a business.
Why is the cash flow statement important to shareholders and investors?The cash flow statement (CFS) provides important information about a company. It shows the movement of money inside and outside the company. This helps investors and shareholders understand the company's revenues and expenses.
What is cash flow?Cash flow refers to the net balance of cash entering or leaving a company at any given time. Cash flows in and out of business all the time. For example, when a retailer purchases inventory, money flows from the store to the supplier.
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ounty A received equipment that was of a lesser capacity than requested from County B (their mutual aid partner). What best practice is desired to prevent this from occurring
County B provided County A with equipment, however it was of a lower capacity than was asked (their mutual aid partner) To avoid this, standard practices for resource typing are desired.
Resource deployment and use in incidents are defined and categorized by capability, or resource typology. Resource type definitions create a common language and specify a resource's basic capabilities (for tools, teams, and units). Preparedness, Communications and Information Management, Resource Management, Command and Management, and Ongoing Management and Maintenance are the five NIMS Components as described by NIMS 2008. Three NIMS guiding principles are followed by incident management employees while using NIMS components to achieve these priorities: Flexibility. Standardization. Oneness of Purpose. Resources—people, teams, facilities, equipment, and supplies—can be managed systematically by numerous organizational aspects thanks to the National Incident Management System (NIMS) resource management guidelines.
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The subject property does not have a pool or a screen porch. A comparable that sold for $205,000 has a $1,000 screen porch, one more $2,500 half-bathroom, and a $6,000 pool. Assuming all else is equal, what is the adjusted value of the comparable
Assuming all else is equal, the adjusted value of the comparable is $195,500.
Comparable sold for $205,000
But it has:
$1,000 screen pouch
$2,500 half bathroom
$6,000 pool.
If we add the extra options we have
$1,000 + $2,500 + $6,000 = $9,500
To calculate the adjusted price of the comparable property, subtract the cost of the optional extras from the selling price.
So $205,000 - $9,500 = $195,500.
Comparative value means the loss of value of the insured vehicle or parts immediately prior to an accident. In addition, any reasonable fees payable for any of the following that apply to your claim: Homes that are comparable (similar) to each other should have similar market values and therefore similar valuations.
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When does the finance charge begin to accrue on the credit card from the local department store
The finance charge on a credit card from a local department store will typically begin to accrue on the day that the balance is incurred. This means that if you make a purchase on your credit card, the finance charge will begin accruing on that day, regardless of when the bill is due.
Please note that some credit card companies may have different policies regarding when loan fees start. For example, some credit card companies may offer a grace period, which is a period of no loan fees, usually beginning on the billing date, as long as the balance is paid in full by the due date. Therefore, it is important to check your credit card's terms and conditions or contact customer service for the exact conditions under which a particular credit card will accrue financing fees.
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On the diagram to the right, a movement from A to B represents a A. decreases in demand. B. change in demand. C. movement up the demand curve. D. change in quantity demanded.
On the diagram to the right, a movement from A to B represents a change in the quantity demanded.
What is demand?Demand is just a consumer's desire to buy products and services immediately and to pay the price associated with them. Demand can be defined as the number of things that consumers are prepared and willing to purchase at various prices within a specific time frame.
The term change in the quality demands refers to that specific. The quantity of products buyers is demanded to buy. These changes in quantity demanded are caused by a change in the price.
Therefore, Thus option (D) is correct. The quality demands refer to the quality of the product.
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The relative ease of transferring ownership, the limited liability for business debts, and the unlimited life of the business are why the corporate form is superior to sole proprietorships or partnerships for _____.
The relative ease of transferring ownership, the limited liability for business debts, and the unlimited life of the business are why the corporate form is superior to sole proprietorships or partnerships for raising cash
For businesses to expand and engage in new endeavours, they need to raise finance. Firm can raise cash in three different ways: through retained earnings, borrowed capital, and equity capital. Firms that use retained earnings have no debt to their stockholders but can anticipate higher profits. By taking out loans from creditors and releasing corporate loans in the form of bonds, businesses raise debt capital. External investors provide equity finance, that is free of costs but no tax advantages.
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Coronado Industries, a manufacturer of household paints, is preparing annual financial statements at December 31, 2020. Because of a recently proven health hazard in one of its paints, the government has clearly indicated its intention of having Coronado recall all cans of this paint sold in the last six months. The management of Coronado estimates that this recall would cost $796000. What accounting recognition, if any, should be accorded this situation
The correct option is Option 1. Accounting recognition should be accorded to this situation Operating expenses of $811,000 and liability of $811,000.
As in the question it was given that the government has indicated Sunland recalled all cans of this paint sold in the last six months. The management of Sunland estimates that this recall would cost $811000. Then the recall cost of $811,000 would be treated as operating Expenses and liabilities for Sunland Company.
In economic accounting, a liability is defined because the future sacrifices of monetary benefits that the entity is obliged to make to other entities as a result of past transactions or other beyond occasions, the agreement of which may also bring about the transfer or use of property, provision of offerings or other yielding of monetary blessings in the future.
Liabilities in monetary accounting want now not legally enforceable; however, they may be based totally on equitable duties or positive obligations. An equitable assignment is an obligation based totally on ethical or moral concerns. A positive responsibility is an obligation that is implied by way of a set of instances in a selected situation, in place of a contractually primarily based responsibility.
A debit either increases an asset or decreases a liability; a credit both decreases an asset or increases a liability. in line with the precept of double-entry, every monetary transaction corresponds to each a debit and a credit. while coins are deposited in a bank, the financial institution is said to "debit" its cash account, on the asset facet, and "credit score" its deposits account, on the liabilities side. In this example, the bank is debiting an asset and crediting a liability, which means each boom.
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Complete Question:
Sunland Company, a manufacturer of household paints, is preparing annual financial statements at December 31, 2020. Because of a recently proven health hazard in one of its paints, the government has clearly indicated its intention of having Sunland recall all cans of this paint sold in the last six months. The management of Sunland estimates that this recall would cost $811000. What accounting recognition, if any, should be accorded this situation?
A). Operating expense of $811000 and liability of $811000
B). Note disclosure only
C). Appropriation of retained earnings of $811000
D). No recognition
Show Your Work gerry spends $1.25 each day on lunch at school. every friday, she buys an extra snack for $0.55. how much money will she spends in two weeks
In two weeks, Gerry will spend $13.6. We do not need to line up the decimal point when multiplying.
What is an illustration of a typical algorithm?Standard Algorithm Division Let's take an example of each of these steps: Example: Multiply 245 by 5. Step 1: In this case, write the number to divide and the divisor as: Step 2: Start with the digit in the hundreds place in our case and proceed one digit at a time.
Gerry spends $1.25 per day on lunch on Fridays, adding $0.55.
How much will Gerry spend in the next two weeks?There are five school days in a week, and Gerry spends $1.25 per day four days (Monday through Thursday).
On Fridays, Gerry spends $1.25 plus $0.55, which equals $1.80.
As a result, Gerry will spend $1.80 per week.
(1.25*4) + 1.80
= 5+ 1.80
= 6.8
Gerry will spend in two weeks:
2*6.8 = 13.6
The procedure for multiplying decimal numbers is identical to that of multiplying whole numbers, with the exception of where the decimal point appears in the final result.
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Suppose that an economy experienced a natural disaster that declined its nominal GDP by 5%. Meanwhile, inflation was 5%. What is the real GDP growth rate for this period
Let's say a natural calamity caused a 5% reduction in a country's nominal GDP. In the interim, inflation was 5%. For this time period, the real GDP growth rate was -10%.
How do you calculate the nominal GDP growth rate?By multiplying the quantity output for the current year by the market price, nominal GDP is calculated. The nominal GDP in the preceding example is $1000 in Year 1 (100 x $10), and it is $2250 in Year 5 (150 x $15).
How do you determine the pace of economic growth?The difference between the most recent year's real GDP and the year before can be used to compute real GDP. Next, multiply this difference by the real GDP of the previous year.
Quantity Change = Nominal Change + Price Change = %. Real GDP growth rate (% change in quantity) hence equals nominal GDP growth rate (% change in quantity) = -5% -5% =-10%.
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What are the most important workplace trends affecting HR today?
The most important workplace trends affecting HR today are flexible working, diversity and Inclusion, artificial Intelligence, wellness programs, employee engagement.
What is HR?
HR stands for Human Resources, and is an essential part of any organization. It's responsible for ensuring that a company has the right people in the right roles and that they are treated fairly. HR tasks include recruiting and onboarding new staff, managing employee performance and development, monitoring work health and safety, and resolving any disputes that arise. HR also provides advice and guidance to managers, helping them to make decisions that promote a healthy, productive and collaborative work environment. HR also plays a critical role in developing and implementing policies and procedures that protect the rights, safety and wellbeing of the organization's employees.
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Annual returns on small stocks have a population mean of 12% and a population standard deviation of 20%. If the returns are normally distributed, a 90% confidence interval on mean returns over a 5-year period is:
Small-stock annual returns have a total population of 12% or a population variance of 20%. Returns have a normal distribution, and a 5-year mean return's 90% confidence range is from 5.40% to 18.60%.
How is the annual return determined?The annual return rate is computed by dividing the amount gained or forfeited at the close of the calendar year by the original cost made at the start of the year. This approach is also known as the average return or nominal annual rate.
What is a favorable annual return?Most investors would consider an average yearly rate of returns of 10% or above to be a respectable ROI for long-term stock market investments.
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What are the three goals for every market based economy?
The three goals for every market-based economy are efficiency, equity, and economic growth.
B. Efficiency: This refers to the ability of an economy to produce the goods and services it needs in the most cost-effective way. This can be achieved through the proper allocation of resources and the efficient use of technology.
Equity: This refers to the fairness of the distribution of resources, services, and opportunities in the economy. This means that everyone should have access to the same resources, even if they come from different backgrounds.
Economic Growth: This refers to an increase in the size of the economy. This can be achieved by increasing the number of businesses and jobs, as well as improving the quality of goods and services produced. This can lead to an increase in the standard of living, as more money is.
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If the cash flow of a building cannot cover the cost of upkeep, the owner must have what, to maintain the building.
The owner must have additional financial resources, such as savings, investments, or other income sources, to maintain the building.
This may include income from tenants, sale of assets, proceeds from loans, or other financial sources. It is important for the owner to have a plan in place to cover the costs of maintenance and upkeep, such as regular inspections and repairs, so that the property remains safe and in good condition.
Cash flow refers to the quantity of money that a business gets or transfers to its debtors in the form of cash or cash equivalent. The liquidity condition of the business is frequently studied using cash flow analysis.
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Which of the following would appear as a credit memorandum on the bank statement:
A) service charge
B) NSF check
C) EFT deposit
D) bank correction of an error from recording a $300 check paid as $30
Interest would increase an account and thus would be a credit memorandum.
For which of the following would a bank issue a credit memorandum?Credit memos from a bank are usually in regard that a bank if reversing some sort of transaction in which the bank made a payment it should not have, or the bank may have made a collection upon a note receivable or a certificate of deposit.
Which of the following statements reflects a weak internal control system?The correct answer is option d. A single employee is responsible for the collecting and recording of cash. Sound internal control will not let a single employee handles the responsibility of collecting and recording cash.
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Number of days a taxpayer is allowed to extend the time to petition the tax court?
As per Section 249( 2), the appeal should be presented within 30 days of the following date( a) Where the appeal relates to any assessment or penalty, the date of service of Notice of Deficiency relating to the assessment or penalty.
The Notice of Deficiency IRS Letters 3219 and 531( also appertained to as 90- Day Letters) is a taxpayer's legal notice that the IRS is proposing an insufficiency( balance due). This notice or letter may include fresh motifs that haven't yet been covered.
A Notice of Deficiency is also known as a 90- Day Letter. occasionally it's called a" ticket to the Tax Court." It's the last letter that the IRS must shoot to all taxpayers in income and estate duty cases before the IRS can begin collecting the duty.
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A bank can get additional excess reserves by doing any of the following, except: Borrowing from other banks Buying Treasury securities from the Fed Receiving additional deposits Borrowing from the Fed
The Fed's reserves decrease as banks buy Treasury securities from it because they must cover the cost of the acquisitions. A bank is a type of financial organisation that is authorised to offer loans and receive deposits.
An institution that is permitted to provide loans and accept deposits for checking and savings accounts is a bank. Other services provided by banks include safe deposit boxes, currency exchange, and individual retirement accounts (IRAs). Among the many different types of banks are retail banks, commercial or corporate banks, and investment banks. In the USA, banks are governed by both federal and state laws. At least since the thirteenth century, banks have been around. Customers and company owners may deposit their cash in a secure area with them, and a business can obtain loans for both personal and professional purposes.
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Which of the following, if true, provides the LEAST support for the author's argument about commerce and political parties during Jackson's presidency?
(A) Many supporters of Jackson resisted the commercialization that could result from participation in a national economy.
(B) Protest against the corrupt and partisan nature of political parties in the United States subsided during Jackson's presidency.
(C) During Jackson's presidency the use of money became more common than bartering of goods and services.
(D) More northerners than southerners supported Jackson because southerners were opposed to the development of a commercial economy.
(E) Andrew Jackson did not feel as strongly committed to the classical ideals of leadership as George Washington had felt.
E). Andrew Jackson did not feel as strongly committed to the classical ideals of leadership as George Washington had felt.
Option E does not provide support for the author's argument about commerce and political parties during Jackson's presidency. The author's argument is about how commerce and political parties developed during Jackson's presidency.
Option E does not mention commerce, political parties, or Jackson's presidency, but rather talks about the difference between Jackson's and Washington's leadership. Therefore, Option E does not provide any support for the author's argument.
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Marketing is _____________, important, and profitable. Businesses, individual consumers, and the economy _______benefit from effective marketing. This chapter introduces marketing in a way you may not recognize. Marketing influences all business operations and includes a number of different activities. Marketing is now seen as _________ to the success not only of manufacturers, retailers, and other businesses but also of government agencies, hospitals, law offices, schools, and churches. Where Does Marketing Take Place
Marketing is organized, important, and profitable. Businesses, individual consumers, and the economy socially benefit from effective marketing.
Marketing is now seen as a step to the success not only of manufacturers, retailers, and other businesses but also of government agencies, hospitals, law offices, schools, and churches. Place describes the store or location where customers find or purchase your product.
Consumers of today can research products and purchase them online, via a smartphone app, in-store, or from a salesperson. Everyday locations, areas where clients are present, and all different types of businesses can all use marketing.
When you come up with an idea for a good or service, marketing begins. You must choose what you are offering, how many choices are available, and the way it will be packed and displayed to customers before introducing a product or a service.
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Can you have a 910 credit score?
Yes , you can have a credit score of 910 . A credit score between 881 - 960 is considered good.
Fair credit scores range from 721 to 880. Good is a score between 881 and 960. A score between 961 and 999 is regarded as excellent.
Credit score:A credit score is a numerical representation of a person's creditworthiness derived from a level analysis of their credit files. A credit report, which typically contains data gathered from credit bureaus, serves as the primary foundation for a credit score. Your credit score is one of the factors the lender will consider when deciding whether to accept or deny your application for credit, such as a loan, mortgage, or credit card. It will also have an impact on the offer or interest rate that the lender makes to you.
Why is a good credit score so important?Most of the time, a credit score is a three-digit number that lenders use to figure out whether you should get a mortgage, a credit card, or another type of line of credit, as well as the interest rate on that credit. At the time of your application, the score depicts you as a credit risk to the lender.
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Which of the following is true of government interventions in a country's trade practices? a. Lower restrictions should be placed on products coming from countries where a government has a large sphere of political influence. b. Governments intervene to protect only imports, as the protection of exports is handled by private agencies. c. A major political motive behind government intervention in trade is the protection of infant industries. d. Government interventions help companies take advantage of economies of scale and be the first movers in their industries.
A major political motive behind government intervention in trade is the protection of infant industries.
What is the primary cultural justification for government intervention and trade?Protecting domestic jobs is one of the primary cultural justifications for government trade involvement. A country's government may decide to obstruct imports that it deems undesirable due to unwanted cultural influence.
What political factors mostly drive government trade intervention?Protecting local jobs, maintaining national security, retaliating against "unfair" trade by another country, and gaining influence over other countries are all examples of political motivations. Protecting nascent businesses from rivalry and pursuing a strategic trade policy are two examples of economic motivations.
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Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance $45,700 Merchandise inventory, ending balance $42,100 Sales $263,500 Purchases of merchandise inventory $142,300 Selling expense $15,300 Administrative expense $60,800 The cost of goods sold for March was: $218,400 $145,900 $142,300 $138,700
Nieman Inc., a local retailer, has provided the following data for the month of March so The cost of goods sold for March was: $145,900
What does Cost of good means?
Cost of goods (COGs) refers to the direct costs associated with the production of a product or service. These costs include the cost of materials, labor, and other expenses directly related to the production of the goods or services. COGs are important to businesses because they provide a measure of the profitability of producing a particular product or service. This information helps the business decide if it is worth continuing to produce the product or service, or if it would be better to look for other options. Additionally, the cost of goods can help a business determine its pricing structure.
What does Service mean?
A service is an act done for the benefit of others. It can include things like teaching, selling a product, or offering physical or emotional support. Volunteer or paid service, direct or indirect, can be provided to individuals, families, or entire communities. Giving time, money, or other resources to those in need is an act of service, as is helping people in other ways, such as providing emotional support or volunteering. Service can be a powerful force for positive change because it can improve the lives of those who receive it.
Explaination:
Cost of goods sold = Beginning Inventory + Purchases - Ending Inventory
Cost of goods sold = $45,700 + $142,300 - $42,100
Cost of goods sold = $145,900
Therefore the correct option is B. $145,900.
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Which of the following is a reason why government is a participant in a market-oriented economy?
a. To enforce contracts and protect private property
b. To promote collusion
c. To promote the growth of natural monopolies
d. To provide more inequality in the distribution of income
e. To promote externalities
The government engages in a market-oriented economy to uphold agreements and defend private property.
What do you mean by a market-oriented economy ?
A market-oriented economy is an economic system in which the production, distribution, and pricing of goods and services are determined by the forces of the marketplace. This type of economy is driven by competition, which encourages firms to be innovative and efficient in order to remain competitive and profitable. This type of economy allows individuals to have greater control over their economic decisions as they are able to choose from a variety of goods and services. Furthermore, a market-oriented economy promotes economic growth through competition, leading to increased investment, higher wages, and more jobs.
So, The correct option is a. To enforce contracts and protect private property.
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Machinery costing $23,500 with an estimated salvage value of $1,180 and an estimated life of 6 years was purchased on October 31, 20X1. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 20X1
$620 is the amount of depreciation expense to be recorded at December 31, 20X1.
given data:
Purchase cost = $23,500
residual value = $1,180
estimated life = 6 years
the amount of depreciation expense is calculated as:
= (Purchase cost - residual value) ÷ (estimated life)
= ($23,500 - $1,180) ÷ ( 6 years)
= $22,320 - 6 years
= $3,720
Now the 2 months depreciation is i.e. from October to December
= $3,720 × 2 months ÷ 12 months
= $7,440 ÷ 12 months
= $620
A fixed asset's component that is regarded to have been used up in the current period gets depreciated. After that, the money is put on the expense list. By gradually lowering the carrying amount of fixed assets as their value depreciates over time, this charge aims to achieve its goal. Given that it results in a cost of conducting business, depreciation is seen as an expense for accounting reasons. Machines, for example, depreciate in value throughout the course of their useful life as they are utilised, undergoing wear and tear. The income statement treats depreciation as a cost.
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The reimbursement system whereby providers reported actual charges for care to payers after each encounter was called:
The reimbursement system whereby providers reported actual charges for care to payers after each encounter was called retrospective reimbursement methodology.
The payment schedule of financial instruments establishes the dates on which payments are made from one party to another on products like bonds or derivatives. It can be tweaked or parameterized. The monthly payment is the sum that must be paid each month to cover the loan's whole balance.
They can use this document to project their earnings during the project's length. Contractors must also fulfill their responsibilities to their suppliers, subcontractors, and others; money isn't just magically appearing. They can use a payment schedule to keep track of when they need to pay their vendors.
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