Answer:
d. Ken and Paul start a graphic design business together. When Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages.
Explanation:
A general partnership is one where more than two people are involved in the running of a business and each bears an unlimited liability in the obligations of the business.
The partners share profit and losses from the business activities.
The scenario where Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages. Is a perfect example of a general partnership.
Both partners share in the loss that results from business activity.
NEED ASAP PLEASE
Volunteer work, internships, freelancing, and part-time jobs are all good ways to gain.
A. experience
B. entrepreneurship
C. a large income
D. a degree
Volunteer work, internships, freelancing, and part-time jobs are all good ways to gain experience. Thus, option A is correct.
What are internships?
A professional learning opportunity known as an internship provides students with appropriate, hands-on work that also is connected to their education field or for any future career. A student can explore and enhance their career while acquiring new abilities through an internship.
With the help of internships relaxing and part-time jobs, people are easily able to gain experience. Which will be helpful for them in the near future. As these will provide them credibility as well as experience to further work. And more people will be interested in hiding them.
Therefore, option A is the correct option.
Learn more about internships, here:
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Peter Henning tool company's December 31 year-end financial statements contained the following errors. December 31, 2014 Ending Inventory $9,600 Understated Depreciation Expense $2,300 understated December 31, 2015 Ending INventory $8,100 overstated An insurance premium of $66,000 was prepaid in 2014 covering the years 2014, 2015, & 2016. The entire amount was charged to expense in 2014. In addition, on December 31, 2015, fully depreciated machinery was sold for $15,000 cash, but the entry was not recorded until 2016. There were no other errors during 2014 or 2015, and no corrections have been made for any of the errors. (Ignore income tax considerations) Instructions a. Compute the total effect of the errors on 2015 net income. b. Compute the total effect of the errors on the amount of Henning's working capital December 31, 2015. c. Compute the total effect of the errors on the balance of Henning's retained earnings at December 31, 2015.
Answer:
Peter Henning Tool Company
a. Effect of the errors on 2015 net income:
Net income overstated by $27,000.
b. Effect of the errors on the amount of Henning's working capital December 31, 2015:
Working capital is understated by $6,900
c. Effect of the errors on the balance of Henning's retained earnings at December 31, 2015:
Retained earnings balance overstated by $27,000
Explanation:
a) Data and Calculations:
December 31, 2014 Ending Inventory $9,600 Understated
Depreciation Expense $2,300 understated
December 31, 2015 Ending INventory $8,100 overstated
Insurance premium for 2015 = $22,000 ($66,000/3) understated
Salvage value realized = $15,000 not recorded
Effect of the errors on 2015 net income:
Beginning inventory was understated by $9,600 = net income overstated
Depreciation Expense $2,300 understated = net income overstated
December 31, 2015 Ending INventory $8,100 overstated = net income overstated
Insurance premium for 2015 = $22,000 ($66,000/3) understated = net income overstated
Salvage value realized = $15,000 not recorded = understated net income
Total overstatement (understatement) of net income = $27,000 ($42,000 - $15,000)
Effect of the errors on the amount of Henning's working capital (wc) December 31, 2015:
December 31, 2015 Ending INventory $8,100 overstated = overstated wc
Salvage value realized = $15,000 cash not recorded = understated wc
Working capital is understated by $6,900 ($15,000 - $8,100)
Effect of the errors on the balance of Henning's retained earnings at December 31, 2015:
Retained earnings overstated by $27,000
difference between monopoly and perfectly competitive market structure
Answer:
see below
Explanation:
1. In a monopoly, one firm dominates a large market. Only one seller is serving a large number of buyers. In a perfectly competitive market structure, many sellers are competing to sell to many buyers.
2. A monopoly has no competition for its products. There are no close substitutes, which leaves customers with no other option but to buy from the monopoly. In perfect competition, sellers sell identical products. There is stiff competition for the product being sold.
3. In a monopoly, there are strong barriers to entry and exit from the market. In a perfectly competitive market, restrictions on entry or exit are absent.
4. The price for a monopoly is always set above the average cost, while in perfect competition, the price set is equal to the marginal cost.
5. A monopoly has full control over its price and can offer different prices to different groups of customers. In a perfects competition, the firms cannot practice price discrimination because they have no control over prices.
Abbott, Inc., issued $50,000 of bonds, paid cash dividends of $8,000, sold long-term investments for $12,000, received $5,000 of dividend revenue, purchased treasury stock for $5,000, and purchased new equipment for $19,000. What is the net cash flow from financing activities?
a. $70,000 inflow.
b. $27,000 inflow.
c. $90,000 inflow.
d. $20,000 outflow.
Answer:
$27,000
Explanation:
Cash flow from financing activities
Particulars Amount
Bond issued $50,000
Less: Cash dividend payment $8,000
Less: Treasury stock purchase $15,000
Net cash-flow from financing $27,000
activities
Caribou Coffee Company, a company known for their coffee products, recently introduced new granola bars called Caribou Granola Bars. For Caribou Coffee Company, their granola bars are:
Answer: brand extension
Explanation:
Brand extension is also referred to as brand stretching. It is a marketing strategy whereby a particular firm uses the image and brand of a well known company or an existing company to market its product. The brand name is typically used for a product category that's different.
For example, from the question, Caribou Coffee Company is a company that is known for their coffee products, but recently it introduced new granola bars which is another product. This is done usually to increase sales.
The IBM Corporation invented the ________ benchmark to help with the design of its mainframe systems.
Answer:
Performance
Explanation:
IBM is widely known as the leader in the computer manufacturing business. Hence, they establish performance benchmarking to assess and analyze how the firm's product and services are operating in terms of sales revenue, profit generation, and customer happiness. This performance benchmarking is conducted to evaluate both internal and external performance.
Therefore, The IBM Corporation invented the PERFORMANCE benchmark to help with the design of its mainframe systems.
You have been asked by the president of your company to evaluate the proposed acquisition of a new special-purpose truck for $60,000. The truck falls into the MACRS 3-year class, and it will be sold after three years for $19,800. Use of the truck will require an increase in NWC (spare parts inventory) of $1,800. The truck will have no effect on revenues, but it is expected to save the firm $20,400 per year in before-tax operating costs, mainly labor. The firm’s marginal tax rate is 34 percent. What will the cash flows for this project be? (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.)
Year 0 1 2 3
FCF $ $ $ $
Answer:
NCF year 0 = -$61,800
NCF year 1 = $20,264
NCF year 2 = $22,613.40
NCF year 3 = $32,782.60
Explanation:
initial outlay = $60,000 + $1,800 = $61,800
depreciation expense per year:
year 1 = $60,000 x 33.33% = $20,000
year 2 = $60,000 x 44.85% = $26,910
year 3 = $60,000 x 14.81% = $8,886 residual value = $4,204
after tax salvage value = $19,800 - [($19,800 - $4,204) x 34%] = $14,497.36
cost savings per year = $20,400
net cash flow year 1 = [($20,400 - $20,000) x (1 - 34%)] + $20,000 = $20,264
net cash flow year 2 = [($20,400 - $26,910) x (1 - 34%)] + $26,910 = $22,613.40
net cash flow year 3 = [($20,400 - $8,886) x (1 - 34%)] + $8,886 + $14,497.36 + $1,800 = $32,782.60
After Mario completes his monthly report, his boss reviews it to see if the standards were met. If there are errors, Mario is told he has to work an extra hour each day for the next two weeks. This is an example of which type of management. Passive management by exception Active management by transaction Passive management by transaction Active management by exception
Answer: Active management by exception
Explanation:
Active management-by-exception is an active transactional leadership behavior whereby the leader looks out for what has been done wrong by his or her subordinates.
Such leaders monitors the work performance and look out for the mistakes and then corrects the situation by taking a particular action.
Since Mario'd boss reviews his monthly reports to see if the standards were met and that if there are errors, Mario is told he has to work an extra hour each day for the next two weeks. It is an example of Active management by exception
Direct exporting refers to Multiple Choice offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee. contracting with a foreign firm to manufacture products according to certain specifications. a foreign country and a local firm investing together to create a local business. using additional parties when a firm sells its domestically produced goods in another country. a firm selling its domestically produced goods in a foreign country without intermediaries.
Answer:
a firm selling its domestically produced goods in a foreign country without intermediaries.
Explanation:
Direct export is defined as the process where a manufacturer sells his products directly to a foreign market. The selling responsibility lies with the manufacturer and no intermediaries are brought in to the sales process.
The disadvantages of this method includes: high cost of distribution and reliance on distributors for success of the sales process.
On the other hand indirect exporting involves use of intermediaries who take responsibility for the sales process in the foreign market
An advantage of paid search marketing is that ________.
Answer:
it is the least expensive channel on a cost-per-exposure basis.
Explanation:
An advantage of paid search marketing is that it is the least expensive channel on a cost-per-exposure basis.
Despite Africa's young, urbanizing population, abundant natural resources, and growing middle class, obstacles that have confronted would-be investors in Africa for years - widespread corruption, a lack of infrastructure and ready talent, and an underdeveloped consumer market - continue to stunt economic growth there. In formulating international strategy for a multinational firm, we would regard these obstacles as
Answer:
Opportunities
Explanation:
In the case when the international strategy is to be formulated for a firm i.e. multinational so the obstacles like infrastructure lacking, ready talent, non-developed consumer market etc would be classified as an opportunities as due to this there is a stunt in a economic growth.
So the given situation represent the opportunities and hence the same is to be considered
Izzy just received a credit card offer in the mail. The credit card has an APR of 17.16%. What is the monthly interest rate that will apply to any unpaid balances on this credit card
Answer:
1.43%
Explanation:
Given that the monthly interest rate that will apply to any unpaid balances on the credit card will be in compound interest. And therefore, for an APR (Annual Percentage Rate) of 17.16% and assuming a 12 months
Then we have 17.16% divided by the 12 months available.
Hence, in this case, we have 1.43% as the correct answer.
Which inventory costing method generally results in the most recent costs being assigned to ending inventory?
a. LIFO.
b. FIFO.
c. Weighted average cost.
d. Simple average cost.
e. Specific identification.
Answer:
B. FIFO.
Explanation:
This is known in full as First in, First out which has a general ideology that purchases that are been made first are those to be sold also first too.bTherefore it is seen to be the discussed inventory when it comes to recent costing been assigned to ending inventories. They are been assumed to remain inventory consists of items purchased last. In other words, its alternate LIFO is an accounting method in which assets purchased or acquired last are disposed of first. Also it is seen in an inflationary market, lower, older costs are assigned to the cost of goods sold under the FIFO method.
Which of the following has made communication within teams more dificult in recent years?
O advancements in technology
O an increasingly global society
O a cuture of disrespect
O declining professionalism
Answer:
an increasingly global society
Explanation:
An increasingly global society or globalization has led to increased interactions between people from different countries. Improvements in transport networks have made it easy for goods, people, and technology to move across borders. Globalization has made economies depend on each other, which has necessitated relaxation on border restrictions.
Due to globalization, it is common to find people from different nationalities living and working in a country. Consequently, organizations have teams composed of people from different regions. Diversity in the workplace has meant the inclusion of different backgrounds in the workforce. As a result, communications have become more challenging due to language barriers and differences in cultural beliefs and practices.
An example of product placement is when a:
A. Verizon phone is featured in an advertisement,
B. TV show has a character who uses an iPhone,
c. movie's characters use lots of computers.
D. celebrity uses a product in an advertisement
Answer:
verizon phone is featured in an advertisement
You have set up a life annuity with a present value of $250,000. If your life expectancy at retirement is 25 years, what will your monthly income be if the APR is 8%, compounded monthly?
a. $1978.69
b. $2047.65
c. $1929.54
d. $1889.03
Answer:
The correct answer is C.
Explanation:
Giving the following information:
Present value= $250,000
Number of periods= 25*12= 300 months
Interest rate= 0.08/12 = 0.006667
To calculate the monthly income, we need to use the following formula:
Monthly withdraw= (PV*i) / [1 - (1+i)^(-n)]
Monthly withdraw= (250,000*0.006667) / [1 - [1.006667^-300)
Monthly withdraw= $1,929.6
The independent variable in the Situational school of leadership is: a. Maturity of the followers b. Clarity of the task c. Time horizon d. Organizational support for the leader e. b), c), and d) Only
Answer:
Maturity of the followers, clarity of the task, organizational support of the leader
Explanation:
Situational leadership takes into account the situational factors that are attached to the task of the leader. This type of leadership style does not take a one size fits all approach or a universal style of leadership, and therefore pays attention to factors such as relationship with members of the team, type of task etc. The above are factors that determine leadership style. Time horizon is not one of them. Another factor not included in the options is the relationship of the team or group members with the leader.
Which of the following is most likely to be the most challenging part of this first step of absolute valuation process?
a. Making the assumptions upon which to project future performance
b. Locating the required historic data within company releases and earnings Statements
c. Dividing the market cap by the number of shares
d. Conducting the necessary mathematics
Answer:
a) making the assumptions upon which to project future performance
Explanation:
Absolute value can be regarded as as a method that utilize discounted cash flow analysis in knowing the worth of a organization financially. It should be noted that making the assumptions upon which to project future performance is most likely to be the most challenging part of this first step of absolute valuation process.
According to modern growth theory, the key to economic growth is Group of answer choices a large pool of unskilled labor. skilled labor. institutions. paved roads. modern buildings.
Answer:
Skilled labor
Explanation:
As per the modern economic growth theory, the economic growth would be possible via expenditure done on research & development and have the knowledge regarding innovations so for this the skilled labor is required that helps in research & development and so for innovations
So as per the given statement, the skilled labor is the correct option
Hence, the same is to be considered
Time value of money is an important aspect of money management. Why is it important to know what interest rates, terms of an agreement, and present value are in relationship to future value when making financial decisions
Answer:
Future value and present value are monetary concepts that a business owner uses every day, whether he realizes it or not. The idea is simple: Money in your pocket today is worth more than the same amount received several years in the future. The difference is the effect of inflation and the risk that you may not actually receive the money you expect in the future.
Explanation:
You invest $7,000 in a stock that has a 25% chance of a 6% return, a 35% chance of a 9% return and a 40% chance of a 10% return. What is your expected return after one year? A. 7.85% B. 8.65% C. 8.25% D. 9.00%
Answer:Expected return=8.65%--- B
Explanation:
Expected return = (p1r1) + (p2r2) + ………… + (pn rn)
Where
p= Probability of each return in a scenario
r= Rate of return with different probability in a given scenario
n= scenario number
Expected return= (6 X 0.25 ) + 9 X 0.35) +10 X 0.40)
=1.5 + 3.15 + 4
=8.65%
Pauley Company needs to determine a markup for a new product. Pauley expects to sell 25,000 units and wants target profit of $20 per unit. Additional information is as follows:
Variable product cost per unit 17
Variable administrative cost per unit 12
Total fixed overhead 23,500
Total fixed administrative 42,000
Using the variable cost method, what markup percentage to variable cost should be used?
Answer:
69 %
Explanation:
Mark up is Gross Profit expressed as a percentage of Total Costs.
When using variable costing, only the variable costs are used to determine the Product Cost.
Product Cost = Variable product cost per unit + Variable administrative cost per unit
= $17.00 + $12.00
= $29.00
Therefore,
Mark up = Profit ÷ Total Variable Cost
= $20.00 ÷ $29.00
= 0.69 or 69 %
A company reports total assets of $920,000 and stockholders' equity of $540,000. Calculate the debt ratio. (Round your answer to two decimal places.)
Answer: 41.3%
Explanation:
From the question,
Total assets = $920,000
Stockholders' equity = $540,000
Debt will be the difference between the assets and the equity. This will be:
= $920,000 - $540,000
= $380,000
Debt ratio = Debt / Total assets
= $380,000 / $920,000
= 0.413
= 41.3%
Above each column is a statement about the Federal Reserve. Place each misconception about the Fed listed below in the column with the relevant refuting statement.
1. The Fed is an independent government agency
2. The Fed is overseen by the federal government
3. The Fed conducts monetary policy through open market operations
A. The Federal Reserve lacks nccountability because no one audits the Fed. There is no way to know what really goes on behind the scenes.
B. The Federal Reserve just prints more money when the economy needs it and gives it to link.
C. A government agency should not have so much control over the economy because politicians are always going to do anything to win the next election.
Answer:
1. The Fed is an independent government agency ⇒ C. A government agency should not have so much control over the economy because politicians are always going to do anything to win the next election.
The Fed is an independent government agency that pursues the best economic policy for the nation independent of what politicians want.
2. The Fed is overseen by the federal government ⇒ A. The Federal Reserve lacks accountability because no one audits the Fed. There is no way to know what really goes on behind the scenes.
The Federal government however, gets to oversee the Fed to ensure accountability and best practices.
3. The Fed conducts monetary policy through open market operations ⇒ B. The Federal Reserve just prints more money when the economy needs it and gives it to link.
The Fed does not only oversee the printing of money by the Treasury, they also conduct monetary policy through the use of OMO by buying securities when they want money supply to increase and selling when they want a decrease.
Desmond's 4-unit complex brings in an average of $1,250 per unit per month. The property is valued at $625,000. What is the gross rent multiplier (GRM) for this property
PLEASE HELP!
Agnes and Sons had ordered 11,500 machine parts. The cost of the parts was $48,000.00. Find the cost
of each part to the nearest whole cent?
Answer:
$4.2 per part
Explanation:
11,500 machine parts were ordered
Total cost of the parts was $48,000.00
the cost per part will be total cost divided by the number of parts
i.e., cost per part = total costs/ number of parts
Cost per part =$48,000 / 11,500
Cost per part =$4.17
=$4.2 per part
The accounting records of Tuel Electronics show the following data.Beginning inventory 3,880 units at $8Purchases 8,660 units at $10Sales 9,310 units at $13Determine cost of goods sold during the period under a periodic inventory system using the FIFO method, the LIFO method, and the average-cost method.(Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-costCost of goods sold $ $ $
Answer:
FIFO
FIFO means First in First Out. This method values cost of sales at the earliest prices
Cost of Goods Sold = (3,880 units × $8) + (5,430 units × $10)
= $85,340
LIFO
LIFO means Last in Fist Out. This method values cost of sales at the latest prices.
Cost of Goods Sold = (8,660 units × $10) + (650 units × $8)
= $91,800
Weighted Average Cost
The unit cost is re-calculated with every new purchase of units made. The cost of sale will be valued on the newly calculated average unit cost.
Unit Cost = Total Cost ÷ Total Units
= (3,880 units × $8) + (8,660 units × $10) / 12,540 units
= $9.381
Cost of Goods Sold = Units Sold × Unit Cost
= 9,310 units × $9.381
= $ 87,337.11
Drag each example to the corresponding step in the new-product development process.
1. Idea Generation
2. Concept Testing
3. Product Development
4. Market Testing
5. Product Launch
6. Evaluation of Results
A. Samples
B. Big box
C. Brainstorm
D. Prototypes
E. Strong sales
F. Presentation
Answer:
1. Idea Generation ⇒ C. Brainstorm
Brainstorming is a process used to generate a large number of ideas where participating members contribute with any ideas that they can come up with.
2. Concept Testing ⇒ B. Big box
3. Product Development ⇒ D. Prototypes
When a company is developing a product, the firs thing that they will come up with is a prototype of the product.
4. Market Testing ⇒ A. Samples
Free samples are important when you are testing a new product, e.g. handing out free samples
5. Product Launch ⇒ F. Presentation
The formal presentation of a product takes place when the product is launched into the market.
6. Evaluation of Results ⇒ E. Strong sales
The way that a company can evaluate if a product was accepted or not by the market is to see their sales records, if sales are strong, then the product was accepted.
Insourcing incurs an annual fixed cost of $500,000 and a variable cost of $60 per unit. Outsourcing incurs an annual fixed cost of $750,000 and a variable cost of $20 per unit. What is the indifference point between the two alternatives
Answer:
The indifference point is 6,250 units
Explanation:
First, we need to structure the total cost formulas:
Insourcing:
Total cost= 500,000 + 60*x
x= number of untis
Outsourcing:
Total cost= 750,000 + 20*x
x= number of units
Now, we equal both formulas and isolate x:
500,000 + 60x = 750,000 + 20x
40x = 250,000
x= 6,250
The indifference point is 6,250 units
Prove:
Total cost= 500,000 + 60*6,250= $875,000
Total cost= 750,000 + 20*6,250= $875,000
What can Lena do to avoid the risk of having short supplies in times of need?
Lena works in an artificial jewelry-manufacturing unit. It is a family run business, and they have been depending on a single supplier for years.
As Lena is a proactive person, she can avoid the risk of being in short supplies of raw material by keeping a _______ supplier for every one main supplier.
Answer:
Backup
Explanation:
Answer:
Backup
Explanation:
Correct on Plato