Answer:
A. Households act as consumers for goods made by businesses.
Explanation:
The statement that best summarizes the role of households in the flow of goods is Households act as consumers of goods made by businesses. The correct option is A.
In the circular flow model of economics, households are a key component in the flow of goods and services. Households provide labor and other resources to businesses in exchange for wages and other forms of income. They then use that income to purchase goods and services produced by businesses, which helps to sustain economic activity.
In this model, businesses are the primary producers of goods and services, and households act as consumers of those goods and services.
Therefore, option A, "Households act as consumers for goods made by businesses," best summarizes the role of households in the flow of goods.
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Correctly match each scenario relating to probable future losses that exist at the balance sheet date with the correct accounting treatment._____Amount of future loss cannot be reasonably estimated_____Amount of future loss can be reasonably estimateda. Accrueb. Disclose only
Answer and Explanation:
In case when the company expected that there is any losses that arise in the future and the same is to be presented in the balance sheet by considering the accurate accounting treatment so the terms that should be used is as follows
For the future loss that does not reasonably predicted should be disclosed only
And, the future loss that can be reasonably predicted should accrue
The same is to be considered
which will typically decrease with large number of units produced, fixed costs, total variable costs, fixed cost per unit, varable cost per unit
Answer:
fixed cost per unit,
Explanation:
Fixed cost is cost that does not vary with output. It remains constant regardless of the units of output produced. An example of fixed cost is rent.
fixed cost per unit = fixed cost / output
Let us assume that rent (fixed cost) is $500. When output is 1 unit, fixed cost per unit = $500 / 1 = $500
when output is 2 units, fixed cost per unit = $500 / 2 = $250
when output is 10 units , fixed cost per unit = $500 / 10 = $50
During which phase must project teams address important considerations for managing information (and often end up updating business processes through improved communications)?
Answer:
execution
Explanation:
The phase in which project teams address important considerations for managing information (and often end up updating business processes through improved communications) is execution phase.
Execution phase has a very long process in project management, in this phase information has to be managed,it is in this phase of management that the product and services that the organization render is been delivered to the customers. And most importantly, communication has to been improved between the company and their clients.
From the perspective of a cashier in a supermarket, the appropriate level for the process scope is __________.
Answer: A. the customer checkout process.
Explanation:
A Process scope refers to the activities performed in one's job level that are necessary to transform inputs into output.
In the case of a Cashier at a supermarket, their job level requires them to take inputs ( good purchased by customers) and transform them to output (process customer payment) which represents the process of a customer checking out.
Their process scope therefore would be just that, the customer checkout process.
The sales representatives at AdVance have been told by the CEO that they need to start using social media every day to help them close sales. Most of these reps are already using social media personally, but have not been using it in a business setting. Describe what is the best strategy for them to use to follow the CEO's request?
Answer: D) Interact more actively with clients and potential clients on social media, but without pushing business.
Explanation:
The options given are:
A) Post statistics and benefits of AdVance fertilizers on their personal accounts.
B) Begin work accounts that are separate from their personal accounts, and focus on posting images sent from the marketing department.
C) Send private messages to all their personal friends on social media asking them to purchase AdVance fertilizer.
D) Interact more actively with clients and potential clients on social media, but without pushing business.
E) Post photos of their vacations and purchases to show that they are successful at AdVance.
Based on the scenario portrayed in the question, the best strategy for them to use to follow the CEO's request is for the sales representatives to interact more actively with clients and potential clients on social media, but without pushing business.
Social media is a platform for people to interact, discuss issues and pass messages across to each other. Hence,
through the interaction with clients, the sales representatives can discuss new products and ask about the well being of their customers and clients which will help in enhancing customer relationships.
Interaction with customers can also help in building loyal customers and having a long lasting relationship with them. Customers are vital for businesses and it's vital for companies to always protect and keep them.
An emphasis is placed on proper income statement item recognition under what approach under US GAAP?
Answer:
Revenue /expense approach
Explanation:
As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss
So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered
"A floor broker enters the crowd around the Specialist's (DMM's) post to buy 20,000 shares of ABC at the market for a public customer. The Specialist (DMM) tells the trader "20,000 shares of ABC have been stopped at 25." This means that:"
Answer: the Specialist/DMM has therefore guaranteed $25 to the trader.
Explanation:
A floor broker is simply referred to as an exchange independent member who acts as a broker for members who are being overloaded with orders
A floor broker enters the crowd around the Specialist's (DMM's) post to buy 20,000 shares of ABC at the market for a public customer. The Specialist (DMM) tells the trader "20,000 shares of ABC have been stopped at 25." This means that the Specialist/DMM has therefore guaranteed $25 to the trader
accounting Which organization has the authority over the accounting and financial disclosures for companies whose shares of ownership (stock) are traded and sold to the public?
Answer:
Securities Exchange Commission (SEC)
Explanation:
Securities Exchange Commission (SEC) have a mission of protecting investors, ensuring a fair and efficient market, and encourage capital formation.
They monitor participants in the securities markets by ensuring there is disclosure of important information regarding the market, maintain fair dealing, and protect participants against fraud.
Therefore SEC has the authority over the accounting and financial disclosures for companies whose shares of ownership (stock) are traded and sold to the public.
These measures are in place to protect investors.
Yuri wants to pay for his new chair using a check. What must he consider before using that method of payment? Yuri must check his credit history. Yuri must know the interest rate on a furniture loan. Yuri must be sure he has enough left in his checking account for any expenses and automatic payments. Yuri must check his credit card balance.
Answer:
C. Yuri must be sure he has enough left in his checking account for any expenses and automatic payments.
Explanation:
There are different ways to make payment. What he must consider is that Yuri must be sure he has enough left in his checking account for any expenses and automatic payments.
What is checking account?A checking account is known to be a type of bank account that allows a person to make deposit and withdrawal of their money for daily transactions very easy.
This also include when one deposit a check that one receive, taking out cash from the account with your debit card and others. He must make sure he has enough left in his checking account before ordering.
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In a small company's accounting department, the accounts receivable
coordinator often takes the role of the
A. accounting manager
B. credit and collection manager
c. payroll administrator
D. bookkeeper
Answer:
B
Explanation:
His job is to collect and record credit
In a small company's accounting department, the accounts receivable
coordinator often takes the role of the B) credit and collection manager.
What's the accounts receivable job description?Prepares, posts verifies and records purchaser payments and transactions associated with bills receivable. Creates invoices in step with company practices; submits invoices to customers. keeps and updates customer files, inclusive of name or address adjustments, mergers, or mailing attentions.
The Accounting Coordinator reviews at once to the Accounting supervisor and could on the whole be chargeable for getting ready, recording and administering Payroll and advantages, bills Payable, preferred Ledger, and helping with different monetary reporting approaches.
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Which is the lean principle where managers and employees seek to uncover waste in business activities including accounting activities such as payroll and disbursements?
Answer:
Total Quality Management
Explanation:
Total Quality Management is a business technique or system that focuses on best quality of operations in the workplace in its entirety. As the entire business operations are covered it not only focuses on the quality of products manufactured or services provided but also on all the internal business operations as well.
This provides for the better performance at workplace in accounting activities as well, as all the systems are closely monitored to perform at their best capacities.
Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities.How much money will they save monthly by the move to Oakland? $1315 $1560 $1665 $1765
Answer:
$1315
Explanation:
by comparison of living standards in both Los Angeles and Oakland, a move to Oakland will mean that Benito's family saves $1315 more than they were able to save in Los Angeles. This because the standard of living in Oakland is not as expensive as Los Angeles.
Cheers.
Answer: First option, (A) $1315
In Benny v. City Car Dealership, a state supreme court held that a minor could cancel a con-tract for the sale of a car. Now a trial court in the same state is deciding Daphne v. Even Steven Auto Deals, Inc., a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
a. allow the minor to cancel the contract.
b. disregard the Benny case.
c. order the minor to cancel the contract.
d. require the minor to fulfill the contract.
Fear of a lawsuit prevents many employers from giving totally honest recommendations to former employees. this reflects a change in the ____ component of the general environment.
Answer:
political/legal
Explanation:
The components of the general environment helps individuals to identify opportunities and threats that exists in an environment and take adequate measures to avoid or exploit them.
In the political/legal component of environment consideration is given to anti trust laws, taxation laws, deregulation, labour laws, and educational policies.
It looks at the legal implications of an action.
In this scenario where fear of a lawsuit prevents many employers from giving totally honest recommendations to former employees, they are considering the political/legal environment.
3. What are some of the principles of the Future Farmers of America (FFA) creed?
Answer:
The FFA works at the local, state, and national levels, and its agricultural awareness campaign offers a comprehensive, realistic approach to foster development in farming.
Explanation:
FFA helps students improve their leadership skills and motivates young people to contribute positively to their schools, families, neighborhoods, and eventually their country.It increases understanding of agriculture's technological significance and its contribution to fellow human-being. It offers a career in agriculture and therefore laid a path for students who have an interest in the field.The ________ simplifies the interaction of two groups, firms and households, and allows us to make predictions about economic behavior.
Answer:
Circular flow diagram.
Explanation:
The circular flow diagram simplifies the interaction of two groups, firms and households, and allows us to make predictions about economic behavior.
The firm sells their goods and services in the market while the household buys these goods and services.
Hence, the circular flow diagram represents the interaction between the household and firms with respect to the market.
In 2010, us nominal gdp was estimated to be $14.657 trillion dollars while the real gdp was estimated to be $13.245 trillion. why the difference? what is the significance of the difference between these two measures of gdp? do you expect nominal gdp to be higher than real gdp for most years? explain.
Answer:
Nominal gross domestic product (GDP) measures the market value of all the new and legal goods and services produced in a country within a year. While real GDP adjusts nominal GDP to inflation. Since inflation is generally positive, real GDP decreases as inflation increases. The higher the inflation rate, the larger the difference between nominal and real GDP. Depending on which year is used as base year (year 0), the difference that existed in 2010 can be either significant or not.
The difference = ($14,657 / $13,245) - 1 = 10.66%, which means that nominal GDP was 10.66% higher than real GDP. If the base year is 2000 or even 2005/6, the difference is very small since the accumulated inflation would only be 10.66% for all these years. But if the base year was 2008 or even 2009, then the inflation rate is high.
"During this period, employees had more input into management decisions and how they performed their jobs. The use of groups and teams also became popular." To which of the following periods are these statements referring?
A. The 1960s
B. The 1990s
C. The 1970s
D. The 1980s
Answer: The 1990s
Explanation:
The aim of human relations is to enable the creation of a win-win scenario such that employee needs can be satisfied and organizational objectives can also be achievable.
In the 1990s, employees had more input into management decisions and how they performed their jobs. Also, the use of groups and teams also became popular.
Under what approach do organizations exhibit little environmental sensitivity, and simply obey laws, rules and regulations?
Answer:
Legal approach
Explanation:
The legal approach refers to an approach which brings every individual as a unique. All persons have to follow the laws enacted by the government if not followed than penalty should be levied. It derives the equivalent protection and the law safety with respect to the society
Therefore according to the given situation, it is a legal approach and the same is to be considered
Charles Clinton Spaulding, one of the pioneering theorists of administrative management, proposed eight _____ of management based in part on his childhood experiences working at his father's fields.
A. foundations
B. necessities
C. considerations
D. fundamentals
Answer:
B, Necessities
Explanation:
Administrative management can be defined as the process of managing information between people in an organization.
One of the pioneering theorists of administrative management was Charles Clinton Spaulding. He was an African-American business leader as well as the head of an insurance company, Mutual life insurance company, the largest black business in the USA at the time.
He postulated 8 necessities of administrative management and they are
1. Cooperation and teamwork
2. Authority and responsibility
3. Division of labor
4. Adequate manpower
5. Adequate capital
6. Feasibility studies/analysis
7. Advertising budget
8. Conflict resolution
Cheers.
How can you keep yourself updated on the health and safety skills required for your job? A. by reading daily news B. by awaiting employer’s training intervention C. by discussing with colleagues D. by downloading relevant apps available on the Internet
Answer:
D internet
Explanation:
You should proactively keep yourself updated on the health and safety skills relevant to your profession. You can also use various apps available on the Internet. You can download these apps on your computers to upgrade your knowledge.
I just took the test and got it right.
You can keep yourself updated on the health and safety skills required for your job by downloading relevant apps available on the Internet. Option (d) is correct.
What do you mean by Safety?Safety refers to the state of not experiencing or causing harm, injury, or loss.
Your workplace will be more productive and effective if you take steps to protect your employees. According to research, employees who work in environments that prioritize health and safety are more productive. Your organization will experience less disruption and spend less money if illness and accident-related downtime are reduced.
Therefore, Option (d) is correct. By downloading relevant apps available on the Internet.
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Some information found on a municipal bond confirmation is only relevant to new issues. One example of this type of information is
Answer:
The following can be found on a Municipal Bond (MB) confirmation is:
the conditions of payment of interest and principal of the bond.
Explanation:
MBs are a type of debt security sold by government and or organizations trying to raise capital. People who purchase the bonds are called bondholders. The bonds are usually given out at a predetermined interest rate.
The terms of payment define how and when the payment will be made. For instance, some bonds start to yield biannually until the principal is paid back. If it is a 3-year bond, then the principal is returned after three years.
Following from the explanation above, a typical term of payment of interest and principal would look like this:
Bond to Mature after three years with a biannual interest of 3%
Cheers!
A publisher for a new novel figures fixed costs (overhead, advances, promotion, copyediting, typesetting) at $55,000. Variables costs (printing, binding, shipping, and paper) are $1.60 per book. The publisher plans to sell the book to distributors for $11 each. How many books must be produced and sold for the publisher to break even
Answer:
Break-even point in units= 5,851 units
Explanation:
Giving the following information:
Fixed costs= $55,000
Unitary variable cost= $1.6
Selling price per unit= $11
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 55,000 / (11 - 1.6)
Break-even point in units= 5,851 units
A recently issued FASB standard requires that companies recognize revenue when goods or services are_____to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.
Answer:
Transferred.
Explanation:
FASB is an acronym for Financial Accounting Standards Board. The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors. It was founded in 1972 but began operations fully on the 1st of July, 1973 by replacing the Accounting Principles Board (APB) and American Institute of Certified Public Accountants (AICPA).
A recently issued FASB standard known as the core revenue recognition principle, requires that companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.
A consumer values a car at $20000 and it costs a producer $15000 to make the same car. If the transaction is completed at $18000, the transaction will generate:
Answer:
The transaction will generate a buyer surplus of $2,000 and a sellers surplus of $3,000
Explanation:
A consumer values a car at $20,000
It costs a producer $15,000 to generate that same car
The transaction is complete at $18,000
The first step is to calculate the buyer's surplus
= $20,000-$18,000
= $3,000
The seller's surplus can be calculated as follows
= $18,000-$15,000
= $3,000
Hence the transaction will generate a buyer surplus of $2,000 and a sellers surplus of $3,000
You have $100,000 to donate to your college. You want to endow a perpetual scholarship that makes its first payment in 1 year. If the college's discount rate is 5%, how large will the annual scholarship payment be?
Answer:
$5,000
Explanation:
Calculation for how large will the annual scholarship payment be
Using this formula
Cash Flow= Present Value x Rate
Where,
Present Value =$100,000
Rate=5%
Let plug in the formula
Cash Flow=$100,000*5%
Cash Flow=$5,000
Therefore how large will the annual scholarship payment be is $5,000.
Larry is part of the Board of Governors that manages U.S. Monetary policy. He has been elected by the President to serve a single 14-year term. In addition to setting the monetary policy, he is responsible for extending banking services to commercial banks. I
Answer:
Federal Reserve
Explanation:
Federal Reserve System is the financial institution and the central bank of the U.S. The institution provides financial aid to the country. It helps in regulating and maintaining the financial and banking service of the country. All the requirements and responsibilities of the Federal Reserve are laid on the Board of Governors. They help in setting the rate of the discount and rate of interest on the loans.
In the given excerpt, Larry is the part of the Board of Governors in the Federal Reserve System.
4. What data privacy or legal issues could result from employees' use of the Internet on their company's server? (2 points)
Explanation:
Data privacy issues:
risk of network compromiseallows easy monitoring of employees' internet activities.Legal issues:
bad employees could criminalize the organizationA risk of network compromise exists when employees use the Internet on their company's server because if an employee's credential is stollen, a bad actor could gain entry into the organization's system. Also, the company could intrude into the private information of employees using its network.
A bad employee could cause legal issues for the company by using the company's network to carry out illegal activities online which may be traced to the company.
Answer:
hi
Explanation:
Shiro enrolled in Composition 101, a three-credit course. If this class meets twice a week, how long should Shiro expect each class to last
Answer:
About 90 minutes
Explanation:
Three-credit course shall mean a three hour class each week. Three hours = [tex]\times[/tex] 60 minutes = 180 minutes.
Since it is provided that there will be two classes each week, the duration of each class shall be = [tex]\frac{180}{2} = 90[/tex] minutes.
With this the three-credit course condition shall be fulfilled.
Identify the uses of generally accepted accounting principles (GAAP). A. Independent accountants use GAAP to determine the amount of bonuses to be paid to executives. B. Companies use GAAP when preparing financial statements. C. Government uses GAAP to appoint board members for public companies. D. Auditors need to be sure the financial statements are prepared in accordance with GAAP.
Answer:
The correct option is;
B. Companies use GAAP when preparing financial statements
Explanation:
Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.
GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.