Answer:
D. written report that quantitatively describes a firm's financial health
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health.
Generally, the financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.
Cathy, age 16, buys a 1973 Chevy Camaro from Mark, age 23, for $400. Cathy's indulgent parents, who give her everything she wants, loaned her the money for the car. The reason for Cathy's purchase is that all her friends have cars and she feels left out without one. One week after buying the car, however, Cathy changes her mind and tells Mark that she wants to disaffirm the contract. When Mark comes to pick up the car and give Cathy her money, Cathy changes her mind again, telling Mark, "I'll stick by the deal." However, when Cathy's parents gave her a new car for her 17th birthday, she finally decides to disaffirm once again. Which of the following is correct?
A. Cathy can still disaffirm.
B. Cathy cannot disaffirm because she ratified the contract by saying "I'll stick by the deal."
C. Cathy cannot disaffirm because we have a sale of goods and Article 2 of the Uniform Commercial Code says that 16 is the age of contractual capacity.
D. Cathy cannot disaffirm because the car is a necessary.
Answer:
A. Cathy can still disaffirm.
Explanation:
Since Cathy is a minor, she shouldn't engage in contracts unless they involve basic necessities, e.g. food or shelter, and she can disaffirm a contract anytime before she reaches her 18th birthday. This is the reason why generally sellers require the parents to sign or give their consent to the contracts signed by minors.
Which one of the following statements is INCORRECT?A) The higher the GDP of a country, the more equal its income distribution.B) The primary sector accounts for a larger share of GDP for LDCs than MDCs.
Answer:
A) The higher the GDP of a country, the more equal its income distribution.
This statement is incorrect. There is no clear correlation between GDP and income distribution.
There are countries with very large GDPs and very unequal income distribution like Brazil, while there are others with large GDPs and very equal income distribution, like Japan.
Others, like the United States, fall somewhere in the middle.
Assuming that the physical output (i.e., the actual quantity of all final goods and services) of all final goods and services remains constant, if the general price level in the economy triples, so does nominal output.
a) true
b) false
Answer:
a) true
Explanation:
A rise in the general price level is called inflation and it affects the nominal value of the company's output. E.g. you sell pants and last year they sold at $10 and now since inflation rate is 10%, they sell at $11. But inflation only affects nominal values, it doesn't affect real values which are calculated using a base price of a certain year X, times the quantity sold. Following the example, your real output would not be $11 per pair of pants, instead it would still remain at $10 since the inflation is discounted.
Assume that an appliance manufacturer is employing variable resources X and Y in such amounts that the MRPs of the last units of X and Y employed are $100 and $60 respectively. Resource X can be hired at $50 per unit and resource Y at $20 per unit. The firm: Group of answer choices
Answer:
Should hire both more of X and Y
Explanation:
Material requirement planning(MRP) is a production planning system employed in resource management for manufacturing processes. From the above the company requires x and y resources which amount to $100 and $60 respectively. Since x and y resources each cost $50 and $20 respectively, the company can employ 2 units of X and 3 units of y capacity respectively.
Motonous Corporation has completed its fiscal year and reported the following information. The company had current assets of $153,413, net fixed assets of $ 412,331, and other assets of $7,822. The firm also has current liabilities worth $65,314, long-term debt of $178,334, and common stock of $162,000. How much retained earnings does the firm have?
Answer:
The retained earning is $167918.
Explanation:
The current assets of the company = $153413
The net fixed assets = $412331
Other assets of the company = $7822
Current liabilities of the company = $65314
Long term debt = $178334
Common stock = $162000
Retained earnings = total assets - (total liabilities + common stock)
Retained earnings = 153413 + 412331 + 7822 - ( 65314+ 178334+162000)
Retained earnings = $167 ,918
role of a veterinary doctor in rearing livestock effectively
Answer:
As the world population grows and middleclass incomes rise, demand for livestock products increases—a consumption boom shaped by two decade of rapid economic growth and globalization. But there are certain high impact diseases that do not allow animal husbandry to flourish. Less dramatic diseases also impact the performance of farm animals, leading to lower production efficiencies and associated financial losses due to mortality and morbidity. Also, poor animal health in turn negatively influences animal welfare. In fact, studies have demonstrated that there is a direct correlation between the quality of livestock production and the provision of veterinary services.2 Given that food animals support the livelihoods and nourishment of almost a billion people, efforts should be directed at upholding food security.
In this regard, farm-oriented veterinary professionals should advise farmers and owners of livestock or managers of animal production systems on the most appropriate herd health management practices according to local and regional agro-ecological contexts. This extends beyond the treatment of animal illnesses or the implementation of preventive measures, such as strengthened biosecurity, programmed de-worming or vaccination, but also addresses housing, nutrition, cleaning, and environmental sanitation. The correct undertaking of latter practices will likely reduce the usage of veterinary medications and care, thereby reducing input and labor costs, which in turn positively influences farm productivity and profit margins.
The role of a veterinary doctor includes:
To diagnose animalsTo treat the diseases of animalsTo offer consultancy services to the owners of the animals, etc.A veterinary doctor is a professional who specialises in the care and treatment of animals.
A vet is in charge of the various aspects of an animal by ensuring that they live, eat healthy and also administer treatment when the animals are sick.
They can also perform surgery on an animal in severe situations that require medical emergency. They are important in the life of animals and their owners.
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When the government pursued a "tight money" policy during the Great Depression, it caused aggregate demand to decrease because it: Choose one: A. reduced consumer spending and investment spending. B. caused tax rates to decrease. C. led to very high rates of inflation, which eroded household spending. D. caused a rapid decline in exports to other countries. E. led to an increase in
Answer:
A). Reduced consumer spending and investment spending.
Explanation:
'Tight money' policy is elucidated as the contractionary monetary policy adopted by central banks to decrease the money supply in the market which helps in reducing consumer spending and curb inflation in the economy.
As per the question, when the government adopted this 'tight money' policy during the Great Depression, it led to 'a reduction in consumer spending as well as a reduction in spending on investment.' It led to the worsening downturn of the economy as this steep fall in consumer spending decreased the demand significantly, caused major unemployment, and led millions of investors to take their money back, and eventually, it led to the longest-running recession in the modern history. Thus, option A is the correct answer.
One of your business clients has owned and operated his own business as a sole proprietor for over 30 years. He now wants to do some retirement/succession planning. On the issue of the legal structure/ownership of his business, the best advice for him would be to:
Answer:
Incorporating the business and selling the shares to investors to take over as successors
Explanation:
Business incorporation is the legal process through which a business is formed.This allows an incorporated business to sell shares or stocks to interested investors , giving them the power of ownership in proportion to the volume of shares held , and the liability limited to the investment in the business.
It has the advantage over other methods of succession planning in active involvement in the business , limited liability and easier procedures.
Suppose that the demand for picture frames is highly inelastic, and the supply of picture frames is highly elastic. A tax of $1 per frame levied on picture frames will decrease the effective price received by sellers of picture frames by
Answer:
The decrease in the effective price received by sellers is between $0.51 and $1.
Explanation:
Given the demand for picture = Inelastic
The supply of picture frames = highly elastic
Levied tax on picutre frames = $1
It is given that the demand for the frames is highly inelastic therefore the response of the buyer will be less. That means the proportionate change in demand will be lower than the proportionate change in the price of a commodity. Thus, the answer will be between $0.50 and $1.
NorthStar Inc. and The Royal Group have together established The Royal Star Group of hotels. NorthStar owns 49 percent and The Royal Group has a 51 percent share in The Royal Star Group of hotels. However, the management of The Royal Star Group of hotels is separate from its parent companies. What alliance type does this scenario best illustrate?
Answer: Joint venture
Explanation:
From the question, we are informed that the NorthStar Inc. and The Royal Group have together established The Royal Star Group of hotels and that the NorthStar owns 49 percent and The Royal Group has a 51 percent share in The Royal Star Group of hotels.
This is a joint venture. A joint venture is a form of business arrangement whereby the resources of two or more parties are used together in order to accomplish q particular goal.
Q 11.40: Woolley Cloth Distributors issued 25,000 shares of $10 stated value no par stock in exchange for land with an advertised price of $318,000. The stock is currently trading for $12 per share. Journalize the entry to recognize the exchange.
Answer:
The entry to recognize the exchange :
Land $318,000 (debit)
Common Stock $300,000 (credit)
Accounts Payable $300,000 (credit)
Explanation:
The Price of stock is equivalent to the issue price at the date of the transaction of $12.
Note that the Common Stocks do not have par value, this means there is no share premium reserve on the stocks that needs to be recognized.
Since the Price of land is above the price of common stocks, the remainder is the amount owing, a liability.
A broker has established the following office policy: "All listings taken by any sales associate of this real estate brokerage must include compensation based on a 7% commission. No lower commission rate is acceptable." If the broker attempts to impose this uniform commission requirement, which statement is TRUE
Answer: The broker may, as a matter of office policy, legally set the minimum commission rate acceptable for the firm.
Explanation:
a. The options to the question are:
homeowner may sue the broker for violating the antitrust law's prohibition against price-fixing.
b. The sales associates of the brokerage will not be
bound by the requirement and may negotiate any commission rate they choose.
c. The broker must present the uniform commission policy to the local professional association for approval.
d. The broker may, as a matter of office policy, legally set the minimum commission rate acceptable for the firm.
It should be noted that among the rights that are accorded to a broker is for him or her to to set the commissions as long as it is within their own firm.
This is not antitrust violation and any sales associates will be required to comply with the commission as long as the sales associate wish to continue with the broker.
In two to three sentences, explain how you will address
each area of competition to help make your business
successful against this competitor.
To begin your plan, you will need to know about your
competition and decide how you will attempt to compete.
Your competitor is called Create Your Own Yogurt, and it
uses artificial flavors that customers use to create their
own yogurt
In the lesson, you learned about three techniques
businesses can use to compete with one another.
Explanation:
1. Since my competitor– 'Create your own yogurt' uses artificial flavors, I need to determine what those flavors are, and why they may be better than mine.
2. After noting the recipe used by my competitors, I will improve my own recipe using natural flavors which are medically advisable, while improving on branding and marketing efforts.
3. Price is usually going to be my greatest advantage over my competitor, followed by quality, and so I will consider a reduction in my yogurt prices, while striving at maintaining superior quality.
Answer:
sample response: First, I will focus on lowering prices. I will do this by making sure my costs to run the business are low, and I will start by running the shop myself. I will create a better product by using healthier, better ingredients to attract more customers. Finally, I will be innovative by offering ingredients that aren't sold anywhere else.
Explanation:
After getting a raise at work, Jennie now regularly buys steak instead of hamburger. Based on this behavior, we can assume: Multiple Choice steak is a normal good, and hamburger is an inferior good for Jennie. steak is an inferior good, and hamburger is a normal good for Jennie. steak and hamburger are complementary goods for Jennie. steak and hamburger are normal goods for Jennie.
Answer:
Steak is a normal good, and hamburger is an inferior good for Jennie
Explanation:
Based on this behavior, we can assume steak is a normal good, and hamburger is an inferior good for Jennie. That is because a normal good is any good who's demand increases when there is a rise in the consumers' income, while an inferior good sees decreased demand due to a rise in income. Therefore, since Jenna buys more (increased demand) steak and less (decreased demand) hamburger due to her increased income this means that steak is a normal good, and hamburger is an inferior good for Jennie
Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Note Principal Interest Rate (%) Terms (a) June 10 $78,110 7% 60 days (b) July 14 $46,200 8% 90 days (c) April 27 $11,700 9% 75 days
Answer: Interest Maturity Date
(a) 78110×7%×(60/360) = $911 August 9
(b) 46200×8%×(90/360)= $924 October 12
(c) 11700×9%×(75/360) = $219 July 11
Explanation:
To compute the interest we apply the following formula:
Interest= (Principal) × (Interest Rate) ×(Terms ÷360)
For the Maturity date, we add Terms to the Date of note .
By using the above formula for the given table, we get the following values
Interest Maturity Date
(a) 78110×7%×(60/360) = $911 August 9
(b) 46200×8%×(90/360)= $924 October 12
(c) 11700×9%×(75/360) = $219 July 11
Since the seller often has utilized the property for a portion of the year in which the transaction is being made, certain costs associated with the property will be prorated at the closing. All of the following items are subject to being prorated EXCEPT:_________.
A) Broker commission
B) Prepaid rent
C) Property tax
D) Mortgage interest
Answer:
A) Broker commission
Explanation:
-Broker commission is the amount of money that the broker charges for selling a property.
-Prepaid rent is an amount of money paid in advance when you move into a new house.
-Property tax are the taxes you have to pay when you have a real state.
-Mortgage interest in the interest you have to pay on a loan used to buy a property.
According to this, the answer is that all the items are subject to being prorated except broker comission because this is amount you have to pay to the broker for the job done and it is not a cost associated to the property and because of that it can't be prorated.
The other options are not right because those are costs that are associated to the property and because of that, they are prorated at the closing as the ownership is passed to someone else and that person would be responsible for the costs from that point.
During strategy implementation, managers primarily focus on deciding the:________
a) type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.
b) relationship between competitive advantage and firm performance.
c) industries and markets the firm should compete in to be able to gain and sustain a competitive advantage.
d) role strategic leaders should play in gaining and sustaining a competitive advantage.
Answer:
A) Type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.
Explanation:
Strategy implementation is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is seen to the forth class of management when it falls into strategy management. It can also be defined as the manner at which a said organization probably should develop, amalgamate and also utilize the organization by controlling its system structures and also its culture which is primarily led by strategies which is been used in its running. This makes manager primary focus on deciding always on the type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.
During strategy implementation, managers primarily focus on deciding the type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice. Thus, option A is correct.
Implementing a chosen strategy into organizational action in order to accomplish strategic goals and objectives is known as strategy implementation. When it comes to strategy management, strategy implementation is viewed as belonging to the fourth class of management.
It may also be described as the process by which a particular organization should grow, unite, and utilize itself by managing the system structures and culture, which are essentially governed by the strategies that have been employed in operating the organization. Because of this, the manager's top priority becomes determining the best form of corporate governance and how to implement the defined plan.
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Under Section 401 of the Uniform Securities act, the term "agent" does not include an individual who represents an issuer in effecting transactions in a security A) issued by and representing an interest in or a debt of, or guaranteed by, any federal savings and loan association, or any building and loan or similar association organized under the laws of any state and authorized to do business in this state B) issued by and representing an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United States, or any bank, savings institution, or trust company organized and supervised under the laws of any state C) issued by any person organized and operated not for private profit but exclusively for religious, educational, benevolent, charitable, fraternal, social, athletic, or reformatory purposes, or as a chamber of commerce or trade or professional association D) issued or guaranteed by any federal credit union or any credit union, industrial loan association, or similar association organized and supervised under the laws of this state
Answer:
B) issued by and representing an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United States, or any bank, savings institution, or trust company organized and supervised under the laws of any state.
Explanation:
The Uniform Securities Act ( USA ) is a model statute or legal framework designed to guide each state of the United States of America in drafting and balancing both state and federal regulatory securities law. It is used in the United States of America to prosecute all fraud relating to buying and selling of securities.
Under Section 401 of the Uniform Securities act, the term "agent" does not include an individual who represents an issuer in effecting transactions in a security issued by and representing an interest in or a debt of, or guaranteed by, any bank organized under the laws of the United States, or any bank, savings institution, or trust company organized and supervised under the laws of any state.
However, under Section 401 of the Uniform Securities act, the term "agent" means any individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities.
The degree to which firms should segment their markets depends on the balance the firm wants to achieve between the added perceived customer value that segmentation can offer and its ___________.
Answer:
Cost
Explanation:
SEGMENTATION can be defined as the process or ways of dividing or segmenting business market into groups or parts based on the types of features or characteristics they shared which is why MARKET SEGMENTATION is important and vital to company or organisation because it enable them to easily target the people or individual that are likely to be satisfied with their product.
Hence, For a firm, company or organisation to segment their markets it will depends on the balance that the company or organisation wants or desire to achieve between the customer value that the market segmentation can offer and its COST.
A customer opens a long margin account with only 1 position, consisting of 100 shares of ABC stock valued at $20 per share. There is no debit balance in the account. If the customer buys 100 shares of XYZ at $60 per share, the margin call will be
Answer:
The margin call will be $6,000.
Explanation:
Since there is no debit balance in the customer's margin account, it implies that the customer is not owing the broker on margin. The additional purchase of the 100 shares of XYZ necessitates the margin call by the broker for the customer to fund his margin account by paying additional funds worth $6,000 to cover the purchase of XYZ shares by the broker on his behalf.
A margin account is an account maintained by a broker on behalf of his customer through which the customer is able to buy and sell securities using his own funds and the broker's. The implication is that the customer's equity in the account is equal to the market value of the securities minus the borrowed funds from the broker.
NEED HELP ASAP! Which of the following graphs represents the housing market with rent control in place?
Answer:
The first graph represents the housing market with rent control fully in place. In such a housing market, rent does not get out of hand before government intervention.
Explanation:
With the first graph, t the market could not reach the equilibrium point without the rent control stopping the market forces of supply and demand from exceeding a controlled price (rent). It shows the effect of price control on the market dynamics. With a control on the price (house rent by government), a certain price is imposed on the suppliers and consumers so that they do not go above the prescribed limit. This is what obtains in a controlled economy. On the other hand, in a free market, government does not intervene with control mechanisms, instead it allows the market forces to interact, enabling aggregate production and consumption of goods and services.
When the dollar strengthens, the reported consolidated earnings of U.S.-based MNCs are ____ affected by translation exposure. When the dollar weakens, the reported consolidated earnings are ____ affected.
Answer:
c. unfavorably, favorably affected
Explanation:
Since when the dollar is powerful the current of foreign purchased few of U. S dollar and in the case when the dollar is weak the condition is opposite
Therefore at the time of powerful dollar, the consolidated earning MNC are unfavorably affected and at the time of weakens, it is favorably affected
Hence, the correct option is c.
An insured's disability income policy includes an additional monthly benefit rider. For how many years can the insured expect to receive payment from the insurer before Social Security benefits begin?
Answer:
1 Year
Explanation:
This is because, the additional monthly benefit rider stipulates that the insurer will only pay benefits comparable to what Social Security would pay. Therefore, after a year, the insurer ends the benefit and assumes that Social Security will begin benefit payment.
Hence, the insured expect to receive payment from the insurer for ONE YEAR before Social Security benefits begin.
After nearly 20 years with his company, Mike's job was outsourced. He wants his new job to offer not only a good wage but also job satisfaction and a sense of accomplishment. He is focused on the:
Answer:
intrinsic rewards
Explanation:
In this scenario, it seems that Mike is focused on the intrinsic rewards of his job. These are rewards that come from within the employee themselves. For example, an employee who is motivated is working for his/her own satisfaction and finds meaning in their challenging work, which in term is the intrinsic reward. In this case, the job satisfaction and sense of accomplishment are the intrinsic rewards that Mike wants from his job.
Refined Grains, Inc., agrees to sell to Sunny Cereal Company a certain quantity of refined oats each week but no mention is made of where the goods are to be delivered. In general, the UCC requires that the delivery take place at
Answer:
Refined's place of business
Explanation:
Based on the information given about the business transaction that want to occur between Refined Grains inc and Sunny Cereal Company, UCC which is fully known as UNIFORM COMMERCIAL CODE requires that the delivery of the refined oat that Refined Grains inc agreed to sell to Sunny Cereal Company should take place at Refined place of business, which means a company that want to sell their product to another company must tend to carryout the delivery of the Refined product at the Refined place of the business
Susan is a new sales rep who does not yet possess a great deal of product knowledge. She is often asked questions to which she does not know the answer. By being up-front with her customers about not knowing the answers, Susan builds trust because she is perceived as:
Answer:
candid
Explanation:
By being up-front with her customers about not knowing the answers, Susan builds trust because she is perceived as candid. An individual that is candid, is known to be truthful and straightforward. These individuals are seen by others to be trustworthy since they seem to always tell the truth even if it is hard for the other individual to hear and/or even if it gets themselves into trouble, such as is the case with Susan, since by saying that she does not know much about the product she may potentially lose clients or even get fired.
Met World Series ticket prices spike after NLCS win Now that the New York Mets are in baseball's World Series for the first time in 15 years, fans who don't have a ticket will pay a hefty $1,667.82 to get one. That's the average asking price for a resold ticket, which is the highest since World Series price-tracking started in 2010. Source: CNBC, October 22, 2015 Why is a $1,667.82 ticket price similar to "price gouging"? Is the high price an example of the market price method of allocating scarce resources? Is the market for tickets efficient? Is it fair?
Answer:
The answer is " It is exceptionally high and the product of an extraordinary event".
Explanation:
The Market value or the price is bouging to its result of many an unusual occurrence of certain request or supply shock or the price values the commodity is unexpectedly inaccessible. Its price increases to is the highly inefficient and sometimes unethical amount by its supplier, that's why its price will be increased.
Economics is BEST defined as the study of how: A) to classify resources used to produce final goods and services. B) resources are apportioned to satisfy human wants. C) people make rational decisions. D) technology can be used to change scarce resources into free resources
Resolve (7x+19)/(x+1)(x+5) into partial fraction
Answer:
[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{3}{x+1}+\dfrac{4}{x+5}[/tex]
Explanation:
The given expression is
[tex]\dfrac{7x+19}{(x+1)(x+5)}[/tex]
We need to resolve this into partial fraction.
The form of the partial fraction decomposition is
[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{A}{x+1}+\dfrac{B}{x+5}[/tex] ...(1)
[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{A(x+5)+B(x+1)}{(x+1)(x+5)}[/tex]
[tex]7x+19=Ax+5A+Bx+B[/tex]
[tex]7x+19=(A+B)x+(5A+B)[/tex]
On comparing both sides, we get
[tex]A+B=7[/tex] ...(2)
[tex]5A+B=19[/tex] ...(3)
Subtract (2) from (3), we get
[tex]4A=12[/tex]
[tex]A=3[/tex]
Put A=3 in (1).
[tex]3+B=7[/tex]
[tex]B=4[/tex]
Put A=3 and B=4 in (1).
[tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{3}{x+1}+\dfrac{4}{x+5}[/tex]
Therefore, [tex]\dfrac{7x+19}{(x+1)(x+5)}=\dfrac{3}{x+1}+\dfrac{4}{x+5}[/tex] .
"You deposit $12,000 today into an account that pays you 12% annual interest, compounded daily. How much MORE will you have in 40 years, than if the compounding was only computed annually (as opposed to daily)
Answer:
$340,363.55
Explanation:
you need to calculate the future value of your deposit:
future value = present value x (1 + interest rate)ⁿ
present value = $12,000interest rate = 12% / 365 = 0.032877%n = 40 x 365 = 14,600future value = $12,000 x (1 + 0.032877%)¹⁴⁶⁰⁰ = $1,456,975.20
if the interest is compounded annually, the future value = $12,000 x 1.12⁴⁰ = $1,116,611.65
the difference = $1,456,975.20 - $1,116,611.65 = $340,363.55