Answer:
are records of increases and decreases in individual financial statement items
Explanation:
The accounts are the day to day records that the individual, company and the business organization handles. It can be classified into various accounts like - cash accounts, purchase accounts, sales accounts, etc
The cash account is the account which records the payment and receipt of the cash
And, the purchase and sales accounts tracks the purchase of the fixed asset, inventory, and sales of the fixed asset, inventory, etc
There is an end number of transactions that can be either increase or decrease
You are the founder of Shadow Skateboards, and you are considering methods of gaining and sustaining a competitive advantage. Which of the following changes has the best chance of quickly creating a sustainable advantage? A. devoting significant resources to researching and developing new products that will bemore durable than competitors'
B. automating the manufacturing process to reduce production costs
C. allowing customers to upload their own image designs and help assemble the finishedproduct at retail locations
D. switching to a just-in-time inventory system to reduce inventory costs
Answer:
The correct option is A,devoting resources to researching and developing new products that will be more durable than competitors'
Explanation:
Creating sustainable advantage means that the company is able to do something very difficult for competitors to copy.
Sustainable advantage is not about cost reductions,is about a perceived value added to products or services not seen anywhere else.
If customers upload their designs for the company to produce, it does not necessarily mean the product is fit for purpose, as the company does not have full control over it.
A stock is expected to return 13 percent in an economic boom, 10 percent in a normal economy, and 3 percent in a recessionary economy. Which one of the following will lower the overall expected rate of return on this stock? -An increase in the probability of an economic boom
-A decrease in the probability of a recession occurring
-An increase in the rate of return for a normal economy
-An increase in the rate of return in a recessionary economy
-A decrease in the probability of an economic boom
Answer:-A decrease in the probability of an economic boom
Explanation:When the probability of an economic boom is decreased it will cause investors to loss interest investing in an economy because the rate of return will be expected by the investing public to be low.
The higher the probability of an economic boom occuring the higher the rate of return expected on the stocks, this is a normal economic situation where investors follow the trends available to take economic decisions.
Zoe runs a flower shop. She recently made some changes so that one employee answers phones and completes the order and payment process, while another creates arrangements, and a third packages and delivers floral arrangements. Previously, each employee was responsible for the order from the phone call through the delivery. Zoe has made changes to:_______.a. feedback. b. autonomy.
c. task significance.
d. skill variety.
e. task identity.
Answer:E. Task Identity
Explanation: Task identity is a term used to describe the distribution of the various stages of a task to separate individuals in order for each person to have a clear focus on his or her own task.
Task Identity is one of the five parts of job characteristics which includes,skill variety, task identity, task significance, autonomy and feedback. Task identity ensures that each person is identified According to the task he or she is involved in.
Assume that the nominal spot exchange rate (USD/EUR) increases by 7.5%, the eurozone price level decreases by 4%, and the US price level increases by 2.5%. The change in the real exchange rate (%) is closest to:a.0.7%.b.−6.3%.c.14.8%.
Answer:
a. 0.7%
Explanation:
The computation in the change in the real exchange rate is shown below:
Change in the real exchange rate = {(1 + change in nominal spot exchange rate) × (1 + change in the price level of euro-zone or foreign country)} ÷ (1 + change in the price level of US or domestic country) - 1
= {(1 + 7.5%) × (1 + -4%)} ÷ (1 + 2.5%) - 1
= {(1.075) × (0.96)} ÷ (1.025) - 1
= (1.032) ÷ (1.025) - 1
= 0.7%
Cultural influences are also quite apparent in food preparation and consumption patterns and habits. Domino's Pizza, the world's largest pizza-delivery company, pulled out of Italy because:
Options:A) tomato sauce was too bold and competed with Italian products.
B) people did not like to eat at home.
C) Italians perceived its products to be "too American."
D) Italians wanted more toppings on thick crust.
E) Italians did not like anyone else to use the name pizza.
Answer:
C. Italians perceived its products to be "too American."
Explanation:
Cultural influence is a term used to describe the response of a set of persons to a product or group of products. Cultural influence has great impact in the success of certain products or brands in the world.
It is known that the perception of Domino pizza by Italians caused its pull out of the Italian market,Italians believe that the pizza produced by the American company Domino pizza is "too American".
At Tony and Cleo’s bakery, one kind of birthday cake is offered. It takes 15 minutes to decorate this particular cake, and the job is performed by one particular baker. In fact, it is all this baker does. What mean time between arrivals (exponentially distributed) can be accepted if the mean length of the queue for decorating is not to exceed five cakes?
Answer:
Explanation:
Average length of queue, Lq = λ^2/μ/(μ-λ)
μ is service rate, λ is arrival rate
Mean time to service = 15 minutes (decoration)
Service rate, μ = 60 / 15 = 4 per hour
It is given that the mean length of the queue for decorating is not to exceed five cakes, Lq = λ^2/μ/(μ-λ) = 5
λ^2/4/(4-λ) = 5
λ = 3.4164 per hour
Mean time between arrivals = 60 / 3.4164 = 17.56 minutes
The minimum acceptable mean time between arrivals = 17.56 minutes
Kansas Enterprises purchased equipment for $77,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,050 at the end of ten years. Using the double-declining balance method, depreciation expense for 2021 would be __________.
Answer:
The depreciation expense would amount to $15,500
Explanation:
Under the double declining method, the formula is as:
Annual depreciation expense = Net Book Value × 2 / Number of years
where
Net book value amounts to $77,500
Number of years is 10 years
Putting the value above:
Annual depreciation expense = $ 77,500 × 2 / 10
= $77,500 × 0.2
= $15,500
NOTE: Under the method of double declining, the residual or the salvage value is not considered or ignored.
When using the double-declining method, residual value is ignored.
At December 31, balances in Manufacturing Overhead are Shimeca Company—debit $2,150, Garcia Company—credit $997. Prepare the adjusting entry for each company at December 31, assuming the adjustment is made to cost of goods sold.
Answer:
The adjusting entries should be:
December 31, adjusting entry Shimeca Company
Dr Cost of goods sold 2,150
Cr Manufacturing overhead costs 2,150
December 31, adjusting entry Garcia Company
Dr Manufacturing overhead costs 997
Cr Cost of goods sold 997
Both accounts (manufacturing overhead and cogs) are expense accounts that have debit balances, but manufacturing overhead is included under cogs and has to be closed against it at the end of the year.
Answer:
COGS 1,153 debit
MO 1,153 credit
Explanation:
The manufacturing overhead debit represent the actual overhead
while the credit represent the applied overhead for the firm and charged into their product already.
At the end of the period, we adjust to match the applied against the actual overhead.
As we apply 997 while the actual cost was 2,150 we underapplied we must charge more cost to our product.
We credit the manufacturing overhead and post that cost against cost of good sold.
2,150 - 997 = 1,153
Novartis created the Novartis Research Institute for Tropical Diseases in Singapore. The institute is unique because it is a not-for-profit organization that focuses on the discovery of new drugs for the treatment of neglected diseases, such as dengue fever and tuberculosis. Not only is this good business, it is also: A. mandated by Supreme Court rulings
B. socially responsible
C. not ethically motivated
D. demonstrating a lack of concern for diversity
E. using environmental marketing
Answer:
B. Socially responsible.
Explanation:
Tuberculosis and Dengue fever are endemic to the tropical regions of West Africa and the south Americas. Tuberculosis is of public health importance and affects millions of people in these regions yearly. It is caused by a bacteria called mycobacterium tuberculosis and is highly contagious. It mostly attacks the airways and lungs but can also affect other organs like the liver in people with weak or absent immunity such as in conditions like HIV and cancer. It is spread through air droplets when people with the infection cough, sneeze or spit. Tuberculosis can be cured and prevented and this is possible through the various researches done by companies like Novartis.
Dengue fever is a viral infection caused by mosquitoes in the tropical regions. It's symptoms include high fever, joint pains, bleeding and shock. There's no known cure for it.
Other neglected diseases include; hookworm infection, ascariasis, schistosomiasis, leprosy and trypanosomiasis also known as African sleeping sickness and caused by trypanosoma brucei.
Novartis research centers for tropical diseases offer social responsibility in looking into these neglected but fatal diseases and trying to find ways in which we can better manage and prevent them. Manufacturing affordable and readily available medications and providing them in these impoverished regions says a lot about the social responsibility and ethical standards of this company and therefore putting their name out there as one of today's global heavyweights in pharmaceuticals as well as charitable organizations.
At the close of a federal civil trial, the court held in favor of the student loan provider for the full amount plus post-verdict interest at 8%. When the court clerk typed up the final order to send to all parties, she accidentally typed in 9% as the post-verdict interest rate. The law student did not notice the error until 14 months after the judgment was entered. She immediately filed a motion for relief from judgment based on a clerical mistake to correct the order to reflect the accurate interest rate.
Answer:
D) Yes, because motions for relief from judgment to correct clerical mistakes can be made at any time.
Explanation:
Since there is no time limit to file a motion fro relief from judgment to correct clerical mistakes, the court will likely grant the motion. The court order should correct the error dates back to the time when the judgment was entered.
This is called a clerical mistake because court clerk incorrectly recorded the interest rate at 9% while the court ordered that it should be 8%.
Dominic’s boss at the Chuck Wagon restaurant expects that he will stay late to clean up the bar areas on Friday and Saturday nights. However, Dominic needs to be home to take over babysitting from his wife, who works a night shift. This is a work-family conflict. True or false?
Answer:
True
Explanation:
Work-family conflict is a form of conflict that occurs when an individual is torn between performing expected roles at work and family roles, in such a way that carrying out both roles becomes impossible without creating an imbalance. Devoting more attention and energy to one would mean, reducing devotion to the other. Dominic's family role interferes with his expected role at work.
Information related to Kerber Co. is presented below.1. On April 5, purchased merchandise from Wilkes Company for $23,000, terms 2/10, net/30, FOB shipping point.2. On April 6, paid freight costs of $900 on merchandise purchased from Wilkes.3. On April 7, purchased equipment on account for $26,000.4. On April 8, returned damaged merchandise to Wilkes Company and was granted a $3,000 credit for returned merchandise.5. On April 15, paid the amount due to Wilkes Company in full.Prepare the journal entries to record these transactions on the books of Kerber Co. under a perpetual inventory system.
Answer: please refer to the explanation section for journals and notes
Explanation:
1 April
DR Inventory 23000
CR Trade Payable 23000
inventory is purchased on Free on Board Shipping terms, risks and Ownership of inventory transfers to Kerber Co the moment Wilkes company ships the inventory. inventory must be recognised
6 April
DR Freight costs 900
CR Bank 900
DR Inventory 900
CR Freight costs 900
Kerber Co Paid Freight costs of $900. There are two events happening in this transaction being the payment of freight costs and the capitalisation of freight costs. Freight costs are capitalised (included in the value of inventory) as they are costs necessary to get the inventory in to the premises of the customer (Kerber Co).
7 April
DR Equipment 26000
CR Creditor/Liability 26000
Kerber Co purchase inventory on credit. equipment is debited because Equipment is an asset and liability is credited.
8 April
DR Trade Payable 3000
CR inventory 3000
Damaged inventory returned will decrease inventory balance and also decrease the amount owed to the creditor (Wilkes Company) . Trade Payable account is Debited and inventory account is credited to record the decrease in inventory and amount payable
15 April
DR Trade Payable 20000
CR Bank 20000
23000 - 3000 = 20 000
recording payment made to the Creditor for inventory purchased or settlement of the trade payable account
If a company pays dividends of $8000, total stockholders:______.a. equity will be reduced by $8000. b. retained earnings will be reduced by $8000. c. both retained earnings and total stockholders equity will be reduced by $8000. d. net income will be reduced by $8000.
Answer:
b. retained earnings will be reduced by $8000
Explanation:
The journal entries are as follows:
Retained earning A/c Dr $8,000
To Dividend payable A/c $8,000
(Being the dividend is declared)
Dividend payable A/c Dr $8,000
To Cash A/c $8,000
(Being the dividend is paid in cash)
So at the time of dividend paid, the retained earnings got reduced by $8,000
The County Commission of Canyon County adopted its General Fund budget for the year ending June 30, comprising estimated revenues of $13,200,000 and appropriations of $12,900,000. The budgeted excess of estimated revenues over appropriations will be recorded as:_______.A. A credit to Surplus Revenues, $300,000. B. A debit to Estimated Excess Revenues, $300,000.
C. A credit to Budgetary Fund Balance, $300,000.
D. A memorandum entry only.
Answer:
The correct answer is "C".A credit to Budgetary Fund Balance. $300,000
Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs are made by hand. Miller Company uses a companywide overhead rate that is based on direct labor hours to assign overhead costs to the two products. If Miller automates the production of straight-back chairs and continues to use direct labor hours as a companywide allocation basis:
Answer:
C. straight back chairs will be overcosted
Explanation:
Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs are made by hand. Miller Company uses a company-wide overhead rate that is based on direct labor hours to assign overhead costs to the two products. If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis:
A. rocking chairs will be undercosted
B. There should be no impact on unit cost
C. straight back chairs will be overcosted
D. rocking chairs will be overcosted.
EXPLANATION
If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis then the straight back chairs will be overcosted because the automation process directly implies that it no longer drives labor hours since it is no longer made by hand.
Automated processes should use machine hours rather than labor hours, for the allocation of its overhead.
Answer:
The question is incomplete, the options include:
a). rocking chairs will be undercosted
b). there should be no impact on unit cost
c). straight back chairs will be overcosted
d). rocking chairs will be overcosted. is Correct
Explanation:
The immediate working hours of straight back chairs will be shortened following the automation of straight back chairs, and that of rocking chairs will remain unchanged.
Suggesting the overall overhead remains unregulated, Gross Direct working hours would minimize the ratio of Direct rocking chair working hours in total direct working hours.
And the overhead distribution on the basis of Direct Labor hours for Rocking chair would also increase as before. And it would overcost the rocking chairs.
Elise recently quit her job at a well-known insurance company and started a home-based business preparing medical transcriptions for doctors. Based on recent statistics, she can expectA. a negative reaction from friends and family who wonder when she will get a real job.B. the government will discourage her attempts to create a home-based business in the hopes that she will opt for locating in an enterprise zone.C. the emergence of affordable technology will make it less challenging for her to compete with larger firms offering the same service.D. to find security, routine, and a paycheck from her new enterprise.
Answer:C. The emergence of affordable technology will make it less challenging for her to compete with larger firms offering the same service.
Explanation: Medical transcription is an health based field which involves transcribing that is putting voice recorded messages or oral lectures into written form. Most medical transcriptions work with physicians, hospitals as most of the voice recordings are made by physicians and other health workers. There are also third party companies who are involved in medical transcription.
The emergence of affordable technology will make it less challenging for Elsie to compete with larger firms offering the same service, as there are many word processing softwares which can be used at very affordable cost or rate coupled with knowledge of medical terminologies and grammar.
Amber, a district manager for a large restaurant chain, is comparing the goals of her restaurants with recent sales. She knows that two restaurants are underperforming, so she plans on meeting with those managers to discuss corrective action; this process is the controlling managerial function. True or false?
Answer:
True
Explanation:
Amber who is the district manager is charged with the responsibilities to ensure the overall progress of the restaurant company. and every organization has their policy, set goals and objectives and methods of operation. so if it is observed that any of the restaurants are underperforming or not meting up to the required standard then it is the responsibility of the Manager in this scenario Amber to call for meeting to review the goals and policy and carry out a SWOT (Strengths, Weaknesses, Opportunities, and Threats, analysis.
Dita takes out a student loan from Everloan Bank. When she fails to make the scheduled payments for six months, Everloan advises her of further action that it will take. This violates
Answer:This violates no federal law
Explanation:
Federal laws are bills that have passed both houses of Congress, been signed by the president, passed over the president's veto, or allowed to become law without the president's signature. Individual laws, also called acts, are arranged by subject in the United States Code.
Direct strategies of power are used when: A. one is an expert or has more knowledge. B. one is a novice or has less knowledge. C. indirect styles have not worked; D. it's the strategy of last resort. one is female.
Answer:
(A) one is an expert or has more knowledge.
Explanation:
Power is an individual's ability to influence others and do what the individuals wants as well as persons ability to resit the influence attempts of others.
Answer: what he said was right^^^
Explanation:
The Lory Company had net earnings of $127,000 this past year. Dividends of $38,100 were paid. The company's equity was $1,587,500. If Lory has 100,000 shares outstanding with a current market price of $11.625 per share, and a dividend growth rate is 5.6%, what is the firm’s discount rate?
Answer:
Rate = 9.05%
Explanation:
To calculate the Dividend per share we'll have to
= Total Dividends Paid / Total Shares
= 38,100/100,000
= 0.38 Dividend per share
So, if we are to be using the constant Growth Model,
P = Price of Stock
= Estimated Dividends for next period
r = Required rate of return
g = Growth Rate
11.625 = 0.38(1.056)/(r - 0.056)
r = 9.05%