Adjusting entries for accrued expenses ensure that liabilities are reported for all amounts owed at the end of the accounting period.
What are adjusting entries?Adjusting entries are the end-of-the-year entries made to ensure that the income statement and balance sheet present the correct, up-to-date numbers.
Some of the adjusting entries include:
Accrued revenuesAccrued expensesDeferred revenuesPrepaid expensesDepreciation expenses.Thus, Adjusting entries for accrued expenses ensure that liabilities are reported for all amounts owed at the end of the accounting period.
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Spectrum uses its sales reports broken down by geographic regions as part of its marketing research to determine which markets are most rapidly adopting fiber-optic internet connections. In this example, Spectrum is using
The fact that Spectrum breaks its sales reports down into geographic regions is an example of internal secondary data.
What is internal secondary data?When data is said to be secondary, it means that it is derived from data that was compiled for other reasons.
When this secondary data is compiled from reports that only a company has access to, this is internal secondary data. The sales reports of Spectrum were compiled to report sales and are available to Spectrum alone.
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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in
thousands of gallons:
Forecast
Method 1
Actual
Demand
Actual
Demand
Week
Forecast
Method 2
0.82
Week
1
0.90
0.72
1
0.72
2
1.02
1.00
2
1.19
1.00
3
0.92
1.00
3
0.92
-1.00
4
1.17
1.00
4
1.17
1.00
The MAD for Method 1 = thousand gallons (round your response to three decimal places).
MAD = 0.51/4 = 0.1275 and MSE = 0.0721/4 = 0.018.
What is MAD and MSE?MAD( Mean Absolute Deviation) and MSE( Mean Squared Error) are the most commonly used forecast error measures. MAD is the average of the absolute errors and MSE is the average of the squared errors.
Solution:- Method 1 Week Method 1 Actual E E^2
1 0.9 0.7 0.2 0.04
2 1.05 1 0.05 0.0025
3 0.95 1 0.05 0.0025
4 1.2 1 0.2 0.04
0.5 0.085
MAD = sum of error/n
= 0.5/4
=0.125
MSE = sum of squared error/n
= 0.0.85/4
= 0.02125
Method 2 Week Method 2 Actual E E^2
1 0.8 0.7 0.1 0.01
2 1.2 1 0.2 0.04
3 0.9 1 0.1 0.01
4 1.11 1 0.11 0.0121
0.51 0.0721
Hence, MAD = 0.51/4 = 0.1275 and MSE = 0.0721/4 = 0.018.
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Which document needs to be submitted, along with reconciled cash, from each department to the main cashier’s office?
A.
deposit form
B.
deposit slip
C.
cash receipt
D.
cash invoice
E.
withdrawal form
What is an exampl of a price floor
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Perhaps the best-known example of a price floor is the minimum wage, which is based on the normative view that someone working full time ought to be able to afford a basic standard of living
Select the correct answer from each drop-down menu.
According to
,self-interest and competition act as
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gulding firms in a market-based economy.
Self-interest and competition, in accordance with Adam Smith, function as invisible hands that direct businesses in a market-based economy.
What is self-interest?
Self-interest is commonly defined as a focus on one's own needs or interests. Self-interested behaviors are typically carried out unknowingly most of the time. Numerous philosophical, psychological, and economic theories look at how self-interest influences how people behave.
Adam Smith authored one of the most well-known works on economics, which is still used today to explain how the American economy is structured. Smith writes in Wealth of Nations about the need for essentially zero government involvement in the economy. Instead, the best outcome for customers will come through business rivalry. Smith bases his assertion that businesses will act in their own best interests on this theory.Since the business owner depends on customers to succeed, acting in their best interest will inevitably lead to the best deals for the consumer.
Thus, the correct option is 3.
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Joe is a landlord of a small apartment building in the downtown district. He usually charges $3,000 per month for his apartments. The local government just passed a law stating that all rent in the downtown district must be at or below $2,600 per month. After this policy is implemented, what will be the effect on supply of apartments and demand of apartments in the downtown district?
Supply down, demand up
Supply down, demand down
Supply up, demand down
Supply up, demand up
When the new law is passed, the effect on the supply and demand of apartments is that Supply down, demand up.
What happens when a price ceiling is below the equilibrium?When the equilibrium price which is $3,000 in this case, is higher than the price ceiling of $2,600 in this case, more people will demand apartments because they will be more likely to afford it.
Supply on the other hand, will decrease because less people will want to make their places available at below equilibrium price.
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The effect on supply of apartments is that supply will be down and the demand of apartments in the downtown district will be up.
What affects demand for housing?The primary factor affecting the demand for housing is usually the price of housing.
Using the law of demand, as price decreases, the amount or the quantity of housing in terms of quantity demanded will go up or increases.
Note that because of a drop in price, more people may need more housing and as such the quantity supplied will not be able to meet up with the demand and another factor is that some homeowners may want to hold off in leasing apartment at that low price.
Therefore, option A is correct.
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Being a mason requires a five-year apprenticeship, a program that requires trainees to work for an experienced mason in order to learn the trade.
A. True
B. False
It is a false statement that to become a mason requires a five-year apprenticeship,
Who is a mason?These are people that have some skills to carry out some of their responsibilities.
The profession is known as one uses that uses bricks, concrete blocks etc build structures such as walls, walkways, etc
The apprenticeship years for mason varies from people to people, therefore, it is a false statement.
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1
What is the point of including a subject line on an email message?
A.
to indicate what time the sender created the message
B.
to provide information on the content of the email
C.
so the email seems entertaining and fun
D.
so the person receiving the email knows how important the sender is
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Answer:
A
Explanation:
so that you can know who sent the message at what time
A prospecting plan is best used by who
sales teams
Explanation:
They use them for outlining the prosses of identifying the prospects or decision-makers who are most likely to become potential customers.
If the federal reserve banks mailed everyone in the United States a new $1000.00 bill, what would happen to prices, output, and income? Illustrate your answer by using the equation of exchange.
If the Fed mailed everyone a $1,000, the effect would be a rise in prices, output, and income.
What happens when money is injected into the economy?The Equation of exchange is:
Money supply x Velocity of money = Price level x Quantity of goods and services produced
If the Money supply increases like it will when $1,000 is sent by the Fed to people, the velocity will also rise as people purchase more goods and services.
The Price level and the Quantity produced on the right side of the equation would also have to rise to match the left side. So prices would rise, and so would output.
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Which of the following activities are covered by OSHA's steel erection regulations?
A. Design, funding, and site planning
B. Hiring, planning, and construction
C. Construction, alteration, and repair
D. Compliance, regulation, and penalties
The activities are covered by OSHA's steel erection regulations include D. Compliance, regulation, and penalties.
What is OSHA?It should be noted that OSHA simply means occupational safety and health administration.
In this case, the activities are covered by OSHA's steel erection regulations include Compliance, regulation, and penalties.
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____ is an example of a high performance work practice
A. Increasing employee access to information
B. Selective decruitment
C. Skill-based compensation
D. Detailed job descriptions
Answer:
A
Explanation:
Increasing employee access to information
Suppose that Kyle can get an internship at an investment bank that pays him a stipend of $3,000.00. The internship also provides Kyle with tangible work experience that will help him get a job after graduation. What is Kyle’s economic profit if he continues to work as a painter? Should Kyle keep the painting job or take the internship? Explain your answer.
Kyle is advised to take up the internship and leave the painting job, as the painting job will not give him tangible experience, which will be beneficial for his career.
What is internship?A program where a person can get training or expertise of a specific area or field by working under a veteran or an expert in the field, whether paid or not, is known as internship.
In the above case, Kyle's internship will pay him a stipend of $3,000 along with tangible experience, which is beneficial for his future.
In the case of painting job he makes economic profit of $3,800 after getting a salary of $4,000 and spends on supplies for $200.
However, the rational profit of Kyle will be,
Painting Job Salary (4000) – Supplies (200) – Stipend from Internship (3000)= $800
Thus, it is beneficial for Kyle to take up internship and leave his painting job. The complete question has been attached as an image for better reference.
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The maximum amount you must pay before your homeowners insurance
begins to pay is your_
OA. deductible
OB. copayment
OC. credit limit
OD. premium
the answer is A. deductible
Answer: A. deductible
Explanation: It can not be premium, as that is what you pay monthly for insurance. Credit limit is the maximum amount of money your allowed to spend monthly on a credit card. A copayment is what is spent out of pocket on a service that is typically covered by insurance. Deductible is what you must pay before receiving insurance coverage.
How does Maslow hierarchy of need help marketers to create various marketing strategies. Explain your answer with examples.
The Maslow hierarchy of need helps marketers to create various marketing strategies because its already provides a way of evaluating the customers' motivations beyond what raw data will give.
What is the Maslow hierarchy of need?The psychological theory established the motivation theory that models the 5 categories of human needs that helps to dictate an individual's behaviour.
The needs of human according to the Maslow Hierarchy includes Self-actualization, Esteem need, love and belonging need, safety need and physiological needs.
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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?
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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What are the primary advantages to choosing a sole proprietorship?
The primary advantages to choosing a sole proprietorship is that there is no separate legal entity from the ownership.
What is sole proprietorship?Asole proprietorship serves as a type of business which is been owned and controlled by single entity, in this type of business, there is no partnership.
In this type of business, the ownership is the same with the legal identity.
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Which of these describes what can happen with an adjustable rate mortgage
Why do economists pay attention to the balance of trade?
Economists use the BOT to analyze and measure the relative power of a country's economy. Hence, Economists pay special attention to the Balance of Trade.
Why is a balance of trade vital to the economy?The Balance of trade plays a significant role in the calculation of the Gross Domestic Product of a country. As a part of GDP calculations, exports are brought and imports are subtracted from the total.
The more the change surplus, the more the GDP of a country.
Therefore, Economists use the BOT to analyze and measure the relative power of a country's economy. Hence, Economists pay special attention to the Balance of Trade.
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Here are the returns on two stocks.
Digital Cheese Executive Fruit
January +15 +8
February −4 +2
March +6 +7
April +8 +15
May −5 +3
June +4 +8
July −3 −4
August −9 −3
Required:
a-1. Calculate the variance and standard deviation of each stock.
a-2. Which stock is riskier if held on its own?
b. Now calculate the returns in each month of a portfolio that invests an equal amount each month in the two stocks.
c. Is the variance more or less than halfway between the variance of the two individual stocks?
Based on the returns on Digital Cheese and Executive Fruit, the variance and standard deviation of each stock is:
Variance:
Digital cheese = 56.8 Executive fruit = 34.8Standard deviation:
Digital cheese = 7.5Executive fruit = 5.9This means that Digital Cheese is riskier if held alone.
What are the variances and standard deviations of the stock?Using a spreadsheet, one can order the given returns and then find the variance using mathematical functions.
When this is done, the variances on Digital cheese and Executive fruit would be 56.8 and 34.8 respectively.
You can then take the square roots of these variances to find the standard deviations as 7.5 and 5.9 respectively.
Because Digital Fruit has a higher standard deviation, it is considered to be riskier in terms of returns.
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write the uses of apron
Answer:
Its simple .
Explanation:
We use apron to cover the body so that we can remain clean and any dust free while doing daily chores like cooking ,sweeping ,etc
Answer:
We use aprons to protect ourselves from greases, sauce, and other messy things while cooking or eating. They can also be used around the house to prevent similar things.
The most common term for marginal utility is
Answer:
The concept of marginal utility is used by economists to determine how satisfaction levels influence customer decisions. The law of diminishing marginal utility has also been found by economists. It describes how the first unit of an item or service consumed has more utility than subsequent units.
Explanation:
Answer:
law of diminishing marginal utility.
Explanation:
Economists use the idea of marginal utility to gauge how satisfaction levels affect consumer decisions. Economists have also identified a concept known as the law of diminishing marginal utility. It describes how the first unit of consumption of a good or service carries more utility than later units.
What is the relationship of accountability to responsibility?
Answer:
While responsibility refers to someone's duty to carry out a task to completion, accountability generally refers to what happens after something has happened. Accountability is therefore concerned with the consequences of someone's actions, rather than their initial duty to carry these actions out.
Most applications will ask you to provide all of the following information except.
A. the date you can start work.
B. days and hours that you are available to work.
C. your desired salary or wage.
D. how long you want to work for the establishment.
An effective marketing mix for the services industry is the _____.
A. neither
B. seven P's
C. both
D. four P's
An effective marketing mix, which is suitable for the services industry, is the seven P's.
What is a marketing mix?A strategy of different mixes of external and internal factors used by a firm for the purpose of achieving its organizational goals, intended to increase the sales, is known as a marketing mix.
Hence, option B holds true regarding a marketing mix.
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Which of the following consists of everything outside an organization's boundaries that might affect how the business operates?
A. Domestic business environment
B. Political-legal environment
C. External environment
D. Opportunities and enterprise
E. Corporate culture
The external factors that might affect how the business operates are:
A. Domestic business environmentB. Political-legal environmentC. External environmentWhat are the external factors that impact business operation?The external factors that impact business operations include:
SocialEconomicCompetitiveDemographicGlobal factorsTechnologicalPolitical and legal.The corporate culture of an organization is outside its boundaries.
Thus, the external factors that might affect how the business operates are Domestic, Political-legal, and External environments and not the corporate culture.
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Peace and prosperity will flourish if we can find the one best way to divide existing resources among nations.
True or False
Peace and prosperity may not flourish if we can find the one best way to divide existing resources among nations. Therefore, it is false.
What is prosperity?Prosperity is flourishing, thriving, good fortune, and successful social status.
In this case, peace and prosperity may not flourish if we can find the one best way to divide existing resources among nations. It is about the effective utilization of resources.
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which of thomas's generic action options for managing diversity is most illustrated in this case
Answer:
1)At the center of what makes us different from others is the fiber of our personalities. Although two people can have similar personality characteristics, it would be tough, if not impossible, to find two with the exact same personality.
2)internal dimensions of diversity that we are not able to change. These include our age, race, gender, and so forth.
3)external or secondary dimensions of diversity, includes personal characteristics that contain an element of control or choice, and they can be changed. EX: under the category of personal habits, an individual can be characterized as a night owl but
Whats is the purpose of strikerbreakers ?
Based on the Americans with Disabilities Act, organizations may be deemed discriminatory to those with disabilities if they
According to the Americans with Disabilities Act organizations may be deemed discriminatory to those with disabilities if they are biased with employment.
What are the Americans with Disabilities Act?ADA for short is an act that protects the rights of persons living with disability in America, especially in Transportation, communication, employment, and access to government services.
The purpose of this act is to make everyone inclusive in all areas of society.
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