Obtaining evidence to determine that all inventory, accounts payable, notes payable and expenses are included on the financial statements related to the completeness assertion.
There are five different financial statement statements approved by corporate financial statement preparers. These include claims of accuracy and valuation, existence, completeness, rights and obligations, and representations and disclosures.
Statement of Completeness - All transactions to be recorded are recorded in the financial statements. Commitment to Accuracy - Transactions are accurately recorded for the right amount. Cutoff Assertion - The transaction was recorded in the correct accounting period. Check with management about the existence of related parties.
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l. lyons started a business and invested $4,000 in exchange for common stock. illustrate how to record the transaction in the t-accounts by completing the following sentence. the cash account would be (debited/credited) on the (left/right) side of the t-account and the common stock account would be (debited/credited) on the (left/right) side of the t-account.
Dr Cash Account on the Left side.
Cr Common stock on the Credit side.
Based on the information which is given how to record the transaction in Lyons Share's T-accounts will be :
The Cash account would be debited on the left side of the T-account because debit side is often on the left hand side and moreover the amount of 4,000 is the cash which is Invested for stock, that is why cash account will be debited.
Common stock account would be credited on the right side of the T-account because the amount of 4,000 was invested for stock . That is why common stock account will be credited.
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after adjusting revenue for accounts receivable and deferred revenue, how much cash did acme generate from revenue for the nine months ending september 30, 2017?
Acme generate $892.1 million from revenue for the nine months ending September 30, 2017.
Description of revenueRevenue is the money made from regular business operations and is calculated by multiplying the average sales price by the quantity of units sold. In order to calculate net income, costs must be deducted from the top line (or gross income) figure. On the income statement, revenue is also called sales.
A company's revenue is the money generated by its operations. Depending on the chosen accounting approach, there are several ways to compute revenue. Sales made using a credit card will be counted as revenue for products or services that were delivered to the customer. In accordance with some regulations, revenue is recorded even if payment has not yet been made.
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the most appropriate certifications for accountants working outside of public accounting include .
The most appropriate certifications for accountants working outside of public accounting include certified management accountants.
Why is management accounting important?The information required by management to control the firm effectively and efficiently is provided by management accounting. To combine various bits of information, management accounting was created, ensuring that decision-making is quick, easy, and efficient.
Public companies, commercial companies, and governmental organizations use management accountants. They are responsible for keeping track of financial data, processing it, selecting and managing investments for the company, managing risks, budgeting, planning, strategizing, and making decisions.
Thus, A bachelor's degree or equivalent professional certification, along with two years of work experience in management accounting or financial management, are requirements for CMA certification. Candidates for CMA must also pass a two-part test.
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from a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of people, organization, and technology elements.
The organization dimension of information systems consists of The organization's hierarchy, functional specialties, business processes, culture, and political interest groups
How does Modern Business influence Information Systems?
Businesses that can develop new approaches and cutting-edge techniques can survive the market and continue to operate in line with client requests, given the ongoing change and development of customer preferences and requirements. Businesses may gain a lot from the adoption of information systems, which also aid in regulating both internal and external activities.
The advantages of an information system are as follows:
Fresh Goods and ServicesAny company that wants to grow and have a solid handle on the future must have a Business Information System.
Information RetentionAll businesses should keep a record of their actions in order to identify issues and, ultimately, find solutions.
Complete question -
From a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of people, organization, and technology elements.
The organization dimension of information systems consists of __________.
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Although you have to get ready for a date, you are considering playing one more video game. You will choose to play the game if?
Although you have to get ready for a date, you are considering playing one more video game. You will choose to play one more game if your date says they will be a little late.
When meeting someone for a date, there are some things one needs to be sure of like always being on time, the personal gestures, volunteering to pay the bill if not then asking to split the bill in half. Being a good listener than a good talker and also being aware of your table etiquette, treating the waiter or waitress with respect, complementing your date.
All of these are the key factors that decide whether you are meeting with them again or not because it not the food that they are going to remember, it's your behavior that is going to move ahead.
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what is the present value of the following cash-flow stream if the interest rate is 6%? note: do not round intermediate calculations. round your answer to 2 decimal places. year cash flow 1 $ 120 2 320 3 220
The present value of the cash-flow stream if the interest rate is 6% is $323.03.
What is the interest rate?The interest rate can be defined as the amount or the percentage that is being fixed or fluctuating depending upon the condition of the agreement. The interest is calculated on the amount that is being loaned or given to the individual or a company.
According to the given question, the interest rate is 6%
1st year $120
2nd year $320
3rd year $220
Now, by applying the formula for the present value:
[tex]\rmPV = \dfrac{fv}{(1 + r)^t}[/tex]
[tex]\dfrac{120}{1.06} + \dfrac{320}{(1.06)^2} + \dfrac{220}{(1.06)^3}[/tex]
= 113.20 + 284.96 + 184.87
= 323.03
The present value of the cash flow stream is $323.03
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on august 1, paid $72,000 cash to purchase houtte's 9%, six-month debt securities ($72,000 principal), dated august 1.
Here short term investment is debited as it increased the asset and credited the cash as decreased the asset.
here cash is debited as it increased the asset and credited the interest revenue as it also increased the revenue.
What Are Short-Term Investments?
Marketable securities, commonly referred to as temporary investments or short-term investments, are financial investments that can be quickly converted to cash, usually within five years. After only three to twelve months, many short-term investments are sold or turned into cash. CDs, money market accounts, high-yield savings accounts, government bonds, and Treasury bills are a few typical examples of short-term investments. Short-term investments, also known as marketable securities or temporary investments, are financial investments that can be easily converted to cash, typically within 5 years. Typically, these investments are high-quality and highly liquid assets or investment vehicles. Short-term investments may also specifically refer to financial assets of a similar kind, but with a few additional requirements, that are owned by a company.
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amancio is going into his fourth year of school when he is offered a prestigious position at a software company. instead of applying the opportunity cost principle to see if he should quit school and take the job, he decides to stay in school, because he has already spent so much time and money on furthering his education. amancio's hasty decision has been negatively affected by:
Amancio is going into his fourth year of school when he is offered a prestigious position at a software company. instead of applying the opportunity cost principle to see if he should quit school and take the job, he decides to stay in school, because he has already spent so much time and money on furthering his education. Amancio's hasty decision has been negatively affected by: sunk costs.
The relevant costs are the chance cost of taking the work (forgone earnings from your current job) and other stuff you could have finished with the money you wish to obtain in graduate school. Scarcity refers to the condition of insufficiency where masses are incapable of fulfilling their wants during a sufficient manner. In other words, it's a situation of fewer resources compared to unlimited human wants.
Gathering information is the most vital because information is crucial to the shaping of a consensus on a choice. Without gathering more information once software company the alternatives are made, the choice making process will grind to a halt. The "invisible hand" is the price mechanism that guides our actions within the market.
This statement matches the definition of the invisible hand within the text. Social and political forces affect the way software company within which the invisible hand works. Consumers have greater access to information. Container ships can transport a variety of goods directly. Societies can house scarcity by increasing supply.
The more goods and services available to any or all, the less scarcity there'll be. Of course, increasing supply comes with limitations, like production capacity, land available to be used, time, and so on. in a different way to handle scarcity is by reducing wants.
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interest in sustainability initiatives has increased in recent years. group of answer choices true false
Interest in sustainability initiatives has increased in recent years, is a true statement.
What is sustainability?Sustainability can be defined as using resources in a way that is available for the current generation as well as the future generations.This also means that the resources will not be depleted in the future.
The people are making sure that they use the resources in a more careful and efficient manner and do not waste any resources or pollute the environment.
There are various organizations like WTO that help spread awareness of this initiative.
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key indicators of the growing importance of sustainability in managing an organization include .
Key indicators of the growing importance of sustainability in managing an organization include:
Shareholder pressure on corporationsworldwide safety issuesclimate changeThe definition of employer refers to the act of placing matters right into a logical order or the act of taking a green and orderly approach to obligations, or a group of humans who've officially come collectively. When you ease up your desk and document all of your papers into logical spots, this is an instance of organization.
Three styles of groups describe the organizational systems which can be used by maximum organizations today: useful, departmental, and matrix. every of those forms has benefits and drawbacks that owners need to consider before finding out which one to enforce for his or her commercial enterprise.
You may grow your productiveness. By preserving prepared, you may keep time seeking out things and could have more time to paintings on critical tasks. As corporation can improve the glide of conversation between you and your crew, you can additionally make your group greater effective.
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what is the total monthly rent roll of a building with the following rents: (10) 2 bedrooms at $4,200/month (5) 1 bedroom at $3,200/month (4) studios at $2,100/month
The monthly rent roll of a building will be:
(10 * $4,200) + (5 * $3,200) + (4 * $2,100)
= $42,000 + $16,000 + $8,400
= $66,400
Why are they called buildings?
It is now called building because the English ``ing'' is added to certain verbs to make them nouns. Add "ing" to the verb "built" to make thing a noun (a building). Em: Is building a noun and a verb when built?
Definition of building is the process of building a structure or structure. An example of a building is a school. An act, process, technique, or profession of architecture. Something built with walls and a roof, like a house or a factory. structure.
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you are bearish on telecom and decide to sell short 100 shares at the current market price of $35 per share.
The correct answer is $57.69 or more.
The sum of money borrowed from the broker for stock market trading is referred to as margin. Investors can trade with leverage thanks to margin. The two forms of margin are initial margin and maintenance margin.
Selling stocks that are borrowed from a broker rather than ones that an investor owns is known as a short sale. Later, it is bought to pay off the loan.
Initial margin is $2,500, or 50% of $5,000.
There are $7,500 in total assets ($5,000 from the sale of the shares and $2,500 from margin). Obligations are 100P. Net worth is therefore ($7,500 - 100P).
The answer to the equation "$7,500-100P" /"100P" = 0.30 is P = $57.69.
The stock price will trigger a margin call when it reaches $57.69 or more.
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trec rules require a license holder to disclose his dual role if he is representing himself in a transaction. trec also requires a license holder to disclose if his client is his:
trec rules require a license holder to disclose his dual role if he is representing himself in a transaction. Trec also requires a license holder to disclose if his client is his spouse or children or parent. Thus, option C is correct
What is the license?A license can be defined as a part where the person needs to get authority or permission to perform a certain action, for that he may need a registered document from the government which is called a license.
According to the trec rule, a real estate holder needs to present himself and license if they have a dual role, that is if he is also the service provider but also with some kind of relationship with the client. Therefore option C is the correct option
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The question is incomplete, the correct question will be
(a) Brother, sister, or parent
(b) Brother, sister or child
(c) Spouse, child or parent
(d) Relative of any kind
ira deductions and payments to self-employed sep, simple, keogh, and other qualified plans from irs form 1040 schedule 1-total of lines 15 19.
IRA deductions and payments to self-employed SEP, SIMPLE, Keogh, and other eligible plans from IRS Form 1040 Schedule 1 - total of lines 15 + 19.
Student's 2020 Untaxed IncomePayments to tax-deferred pension and retirement savings programs (paid directly or withheld from revenues), including, but not limited to, amounts noted on the W-2 forms in Boxes 12a via 12d, codes D, F, G E,, H, and S. Child support is obtained for any of your offspring. Don't include foster care or adoption expenses.Tax-exempt interest payment from IRS Form 1040–line 2.Untaxed amounts of IRA distributions from IRS Document 1040–lines (lines 4a + 5a) minus (lines 4b + 5b).To learn more about IRA deductions visit the link
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a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user is the definition of.
a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user is the definition of a supply chain.
A supply chain includes all the steps necessary to deliver a finished product or service to a customer. This step may include sourcing raw materials, transportation to production, and transportation to distribution centers or retail outlets where the finished product can be shipped to consumers.
The supply chain is the network of all the people, organizations, resources, activities, and technologies involved in making and selling products. The supply chain includes everything from the delivery of raw materials from suppliers to manufacturers to final delivery to the end user.
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One of the biggest concerns for farmers is which of the following?
A. The weather
B. Physical labor
C. Hiring labor
Answer:
A
Explanation:
Phiyscal labor can be a concern but not that big cause you can always have more workers and C hiring labor isn't as hard as people seem if you find some one willing it easy esspecialy if its a smalll farm and i belive its A becuase the weather is unpredictable and climat change one day it can be snowiing the next its pouring rain and the upcoming climate change we're facing will i have drastic effects on farms
when a sweatshirt manufacturer states, "we sell it only in gray because that way we can buy plenty of gray fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?
The statement "we sell it only in gray because that way we can buy plenty of gray fabric and run our plant efficiently," reflects the views that were popular in which era of the production-oriented evolution of marketing
What was the era of the production-oriented?This era was when the production orientation business dominated the market from the beginning of Capitalism to the mid 1950's. The prior idea was that a good quality product would simply sell itself.
But, this production-oriented approach worked for many organizations during this Era because of strong demand and limited supply of product.
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it is more effective and efficient to find your employees doing something wrong than to find them doing something right in the workplace.
The first-class way to offer surroundings conducive to effective motivation is to set up an agreement with and respect together with your employees. it is extra effective and green to discover your employees doing something wrong than to discover them doing something proper in the workplace.
An employee is a person who receives paid for paintings for someone or an employer. people do not want paint full time to be taken into consideration by employees—they absolutely want to be paid to work by an employer (the person or enterprise that pays them).
An instance of an employee is an individual who's employed via McDonald's and is paid a positive amount of money for every hour worked. a person who works in the carrier of another (the company) difficulty to a contract for lease, where the agency controls the situations of labor performance. You furthermore may want to price your employees the way you price your clients due to the fact they have the maximum powerful power to carry into your organization. if you trust and fee your personnel, they'll be more committed to serving customers properly and serve the company in the long run in a splendid manner.
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Which feature starts with a desired result, then calculates the input value that will give that result?.
Goal seek starts with a desired result, then calculates the input value that will give that result.
When you create a formula or function in Excel, you combine several parts to calculate a result. Goal Seek works in the opposite direction: it allows you to begin with the desired result and then calculates the input value that will produce that result. We'll demonstrate how to use Goal Seek with a few examples.
Other types of what-if analysis to consider for more advanced projects include scenarios and data tables. Other options, unlike Goal Seek, allow you to test multiple values and see how the results change rather than starting from the desired result and working backward.
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which area in exhibit 9-17 represents deadweight loss under monopoly with perfect price discrimination? there is no deadweight loss
The place is famous 9-17 represents deadweight loss under monopoly with perfect price discrimination: there's no customer surplus.
Price discrimination is a microeconomic pricing approach in which identical or largely similar goods or offerings are bought at unique expenses via the same provider in distinct markets. charge discrimination is outstanding from product differentiation by using the greater substantial distinction in production price for the in another way priced merchandise concerned inside the latter method.[3] charge differentiation basically is based on the variation within the customers' willingness to pay and the elasticity of their call.
Price discrimination is a promoting method that fees clients different fees for an identical product or service based totally on what the seller thinks they could get the consumer to conform to. In pure price discrimination, the vendor costs each client the maximum rate they'll pay.
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what are value propositions, why are they important, and what makes a great one? how should lyft take into account the feedback from potential customers?
A value proposition enables a business to guarantee that customers will switch from the product of a rival to that of the business by promising, providing, and delivering a value. In the instance of Lyft, the company's core value proposition was that it would offer passengers secure transportation services with the fewest possible steps and reasonable pricing. This made it possible for their customers to book rides through their smartphone application with only one swipe, making it simpler than looking for and hailing a traditional taxi. Additionally, it typically costs less than a standard cab rate.
What is a value proposition?A value proposition is a brief explanation of why a client might select your good or service. It conveys the most obvious advantage that clients get from doing business with you. Every value proposition should address a customer's dilemma and present your business as the solution provider.
A strong value proposition may emphasize how you distinguish yourself from rivals, but it should always center on how clients perceive your worth. Similarly, discussions on brand strategy and taglines should be based on a value proposition, but they are distinct from one another.
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discuss the importance of interoperability between ehrs and other disparate systems and the impact on improving quality and access to care. how can workflow analysis be used to identify issues related to interoperability?
Importance of interoperability
Better workflows, less uncertainty, and data sharing between EHR systems and healthcare stakeholders are all made possible by EHR interoperability.
In the end, an interoperable environment enhances the provision of healthcare by ensuring that the appropriate data are made available to the appropriate people at the appropriate time.
Workflow Analysis :The process of reviewing a company's workflows is called a "workflow analysis," which is typically done to increase operational effectiveness. It reveals potential opportunities for process optimization, such as unnecessary jobs or procedures, ineffective office design, and workflow bottlenecks.
What are three typical levels of interoperability that are important considerations in interoperability testingPhysical compatibility, data exchange interoperability, and data interpretation interoperability are the three standard levels of interoperability that should be taken into account while conducting interoperability testing.
The ability of software, hardware, products, and systems from diverse companies to quickly share information and perform data processing without the involvement of end users is known as interoperability.
Interoperability basically allows different information systems to communicate and comprehend the data that is delivered to them.The three basic kinds are syntactic, structural, and semantic interoperability.
Interoperability results in significant time savings.When a patient is unable to express themselves effectively, health or care professionals might fill in the gaps without contacting GP offices or other organizations.
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for a fee, isabella can open a pizza hut restaurant in her hometown of sicily. the parent company has agreed that she can use the company name and it will also provide her with marketing and operational support. isabella is in the process of .
Pizza Hut has developed a reputation for excellence over the past 40 years that has gained the respect of both customers and industry insiders.
It has taken constant innovation, dedication to quality, commitment to value, and commitment to customer service to become a premier pizza company. Through more than four decades of success, Pizza Hut's business has been distinguished by entrepreneurship, expansion, and leadership.
Pizza Hut anticipates further success in the future thanks to the strength of its legacy, culture, employees, and franchisees. Each organization has its own set of goals. Different targets are defined in order to reach these goals. Depending on the type of business, targets move down the hierarchy. management chooses a variety of techniques to accomplish the goals.
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heidi talbott has a margin account with a balance of $50,000. the initial margin deposit is 50%, and rc industries is currently selling at $50 per share. how many shares of rc can heidi buy? group of answer choices 2,500 250 2,000 1,000 500
Heidi Talbott has a margin account with a balance of $50,000. the initial margin deposit is 50%, and RC industries are currently selling at $50 per share. There are 2000 shares of RC heldi buy.
A few professionals say that someplace between 20 and 30 shares are the sweet spot for manageability and diversification for most portfolios of individual stocks. however, if you look past that, different research has pegged the magic variety at 60 stocks. whilst there is no real limit to the number of stocks you should purchase in a business enterprise.
It is possible that there will be guidelines or regulations that Shares could interfere with your ability to shop for as many shares as you want. If you may maintain your fees down, some professionals propose shopping for a portfolio of 12 to 18 shares to correctly diversify the danger of owning personal stocks. Your diversification has to be based totally on total proportion value, now not share matter. even as purchasing a single share isn't always beneficial, if an investor would love to buy one proportion.
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eric patterson earns $80,000 a year. his monthly expenses total $4,500. what is the minimum amount of money that he should set aside in an emergency fund?
Eric Patterson should set aside minimum amount of money in an emergency fund will be $4,500 * 3 i.e., $13,500.
What's in an emergency fund?
An emergency fund is a coins reserve it is mainly set aside for unplanned expenses or economic emergencies. Some commonplace examples encompass vehicle repairs, domestic repairs, clinical bills, or a lack of earnings.
What's an emergency fund for?
As easy as the answer seems, it's far essential to ensure that you could distinguish among what is an emergency and what is not. An emergency fund is an unexpected invoice that you can not pay—no longer cash to visit a movie or for some different nonessential expense.
How tons money need to be stored in an emergency fund?
Whilst the size of your emergency fund will range relying to your way of life, month-to-month fees, income, and dependents, the rule of thumb is to position away at the least three to 6 months' well worth of fees.
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to track how the industry is changing, you'll have to monitor each segment's expectations for positioning. every year the ideal position for a product's performance and size drifts at a steady rate. find the ideal position for the low tech last round.
Despite appearing to be in the center, the Ideal Spot is actually located throughout the segments, depending on which one is more focused on the needs of the consumer. For instance, the High End segment's Ideal Spot is at the forefront of the market since these buyers demand the greatest products.
The perfect location is where customers in that market sector would desire their products to be, in terms of size and performance. Customers just prefer products that are closer to the ideal location, all other things being equal. This doesn't mean that they won't purchase your product if it is not in the perfect location. The exercise below demonstrates how to calculate the "Offset," which is the distance from the segment's center to the Ideal Spot.
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with relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the product, hoping to close the sale. true false
The given statement is false. With relationship selling, the salesperson spends most of his or her time attempting to build a problem-solving environment with the customer.
In sales, trade, and economics, a customer is the person who receives an item, service, product, or idea from a seller, vendor, or supplier in exchange for money or another useful consideration. A customer is also referred to as a client, buyer, or purchaser.
A customer is a person or business who receives, uses, or purchases a good or service and has the option of selecting from a variety of products and suppliers. All businesses want to draw clients or customers and convince them to buy the goods they are selling.
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According to management scholar gary hamel, companies like apple have succeeded because their spirit of _____ has allowed them to reinvent the basis of competition within an existing industry.
According to management scholar Gary Hamel, companies like apple have succeeded because their spirit of strategy innovation has allowed them to reinvent the basis of competition within an existing industry.
Every company in running its business has a different strategy when facing various situations, conditions and markets. This is based on the fact that each company has different capabilities from one another. This company strategy is the main key going forward so that the company can survive and develop. Corporate strategy is a step taken by the company to support its production activities so as to generate profits.
Five reasons why companies need a business strategy:
Planning StageIdentify Strengths & WeaknessesEfficiency & effectivenessCompetitive advantageControlExamples of corporate strategies that are often used today.
GrowthCreating new marketsBusiness acquisitionProduct differentiationPrice gameYou can learn more about strategy innovation here
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the justification for reporting assets at historical cost on the balance sheet is that historical cost is: verifiable and objective. considered more useful to most decision makers than current cost. more relevant than fair value.
The problem is a true statement. As Assets should be valued at their historical cost to avoid overstating their value when they may appreciate due to erratic market conditions.
What is historical cost?
The initial nominal monetary worth of an economic item is its historical cost in accounting terms. Using historical cost accounting, assets and liabilities are reported at their original costs without being adjusted for inflation.
Therefore,
the justification for reporting assets at historical cost on the balance sheet is that historical cost is: verifiable and objective. considered more useful to most decision makers than current cost. more relevant than fair value.
The problem is a true statement. As Assets should be valued at their historical cost to avoid overstating their value when they may appreciate due to erratic market conditions.
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when pietro, a new restaurant owner, is determining which products to offer on his menu, he is involved in the management function of planning. group of answer choices true false
When pietro, a new restaurant owner, is determining which products to offer on his menu, he is involved in the management function of planning.
This statement is true.
Planning means looking ahead and chalking out the future courses of action to be followed. It is a preparatory step of every management . It is a systematic activity which determines the process of when, how and who is going to perform a specific job.
Planning is a detailed programme which is related to future courses of action.
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