Management by Objective is a four-step process in which managers and employees collaborate to define goals, create action plans, evaluate and reward people.
Establishing a management information system in order to attain actual performance and accomplishments is known as management by objectives.
Planning, organizing, acting, and regulating actions are part of the management process, which is used to identify and achieve specified goals by utilizing people and other resources.
The process of management by objectives (MBO) entails the development of a strategy for achieving particular performance goals after the manager and employee have reached an agreement on them. It is intended to increase staff engagement and dedication while also coordinating goals across the board.
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Consider the market for coffee. For each of the following scenarios, what would happen to total revenue after the price increases? place each scenario in the correct category.
After the price increase, the total revenue will increase.
Scenario that increasing total revenue (i) Coffee drinkers say there is no substitute.
(ii) Brazil has a drought, and (v) Leaf rust damages one-third of the world's coffee crop. Which scenario that decreasing total revenue (iii) Coffee drinkers decide to save their money for alcohol on Friday nights and (iv) Coffee drinkers discover a flavor of tea that tastes like coffee.
Many novice entrepreneurs confuse pricing for a product or service with the importance of pricing. Because the price is the sacrifice that must be made to get something. So that price fixing is the determination or consideration of entrepreneurs in offering the final price for product or service transactions that will be traded in the business world.
Pricing plays an important role in generating selling prices, because setting prices will reduce risk and provide benefits. One of the important goals of entrepreneurs in setting prices is to achieve the company's desired target, the price offered is stable to attract buyers from business competition and be able to dominate market share.
Pricing is required when setting the selling price, so pricing will be taken into consideration. The considerations needed are considerations to prevent business competitors, maintain market price stability, increase sales volume, and generate maximum sales profit. So that pricing is needed and plays an important role in determining the selling price and carrying out the company's operational activities.
For each of the following scenarios, what would happen to total revenue after a price increase?
Give each scenario in the correct category: Increase total revenue or Decrease total revenue.
(i) Coffee drinkers say there is no substitute.
(ii) Brazil has a drought.
(iii) Coffee drinkers decide to save their money for alcohol on Friday nights.
(iv) Coffee drinkers discover a flavor of tea that tastes like coffee.
(v) Leaf rust damages one-third of the world's coffee crop.
Place each scenario in the correct category.
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The __________ strategy, such as mcdonald’s, includes creation of a product in the home country, but then relies on foreign personnel to assist with remote marketing and sales.
The franchiser strategy, such as mcdonald’s, includes creation of a product in the home country, but then relies on foreign personnel to assist with remote marketing and sales.
What is franchising?Franchising is an established business expansion strategy that has proven to deliver rapid growth – with arguably reduced risk. Some stellar examples include MacDonald’s, Singer and Coca Cola.More recent successful exponents of this model include:Typically, a franchising company (a ‘franchisor’) licenses its Trademarks, Copyright, know how and established business model to ‘franchisees’. These franchisees adopt that business model, including the brand and then operate in new markets. The franchisor’s business model changes subtly to a “support” rather than “operational “ model and market share, brand recognition, and revenues grow as a result.To learn more about franchise, refer: https://brainly.com/question/14034124?referrer=searchResults
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environmental scanning is the process of gathering information about events and their relationships within an organization's internal and external environments. the basic purpose of environmental scanning is to help management determine the future direction of the organization and to identify opportunities and threats.
True. An organization's internal and external environments are surveyed as part of the environmental scanning process. The main goal of environmental scanning is to assist management in deciding the organization's future course and in identifying opportunities and risks.
What is Environmental Scanning?Reviewing external sources to identify elements that affect a firm is known as environmental scanning. Finding and consulting outside sources is the key objective. Although from a business's point of view these sources cannot be controlled, it is crucial to take them into account when making decisions. SWOT analysis is a well-liked technique for environmental scanning.
The words Strengths, Weaknesses, Opportunities, and Threats each stand for a different area to be examined. While the company's internal resources are its strengths and prospects, external sources are its weaknesses and threats. Companies invest time and resources into environmental scans, and they want the results to be as thorough as they can make them.
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economists make economic predictions using:educated guesses based solely on their opinion.data about the economy from the past.information only about other nations.
Economists make economic predictions using data about the economy from the past.
Who are called Economists?A professional and practitioner in the social science field of economics is called an economist. The person may also research, create, and use economic theories and concepts, as well as write about economic policy.Economic forecasting is the method by which economists make forecasts. To do this, they employ a variety of techniques and mathematical models to create graphs and variations that anticipate the economy of a specific business or government for a specific period of time while keeping in mind the historical data. Economic history and the current situation make it simple for economists to forecast the future.Learn more about Economists here:
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larry is a tax accountant and sheila is a hairdresser. larry prepares sheila's tax return for free and sheila agrees to style larry's hair six times for free in return for the tax return. the value of the tax return is approximately $300 and the hair styling work is approximately $300. a. how much of the $300 is includable income to larry? is income to larry because there gross income exception in the tax law for "barter" income. b. how much, if any, of the $300 is includable income to sheila?
a) $300 is income to Larry because there is no gross income exception in the tax law for "barter" income
b) $300 is includable income to Sheila
(A) Larry will be liable for paying taxes on the whole $300. Gross income is defined under tax law as all profits from all sources. As a result, the amount of hair styling labor received in exchange for the service will be equivalent to Sheila's taxable income. There is no mention of an exception to the law's exclusion of barter revenue.
(b) Sheila will be liable for paying taxes on the whole $300. Gross income is defined under tax law as all profits from all sources. Since Sheila provided Larry with her hairstyling skills, the amount of the tax return will be seen as Sheila's equal income. The legislation does not provide any exceptions to the exclusion of barter revenue.
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baker co. sells consumer products that are packaged in boxes. as a promotion, baker offered an unbreakable glass in exchange for $1 and 2 box tops. the cost of the glass was $2.00. baker estimated at the end of the year that it would be probable that 50% of the box tops will be redeemed before the promotion ends. baker sold 100,000 boxes of the product during the current year and 40,000 box tops were redeemed during the year for the glasses. what amount should baker accrue as an estimated liability at the end of the current year, related to the redemption of box tops?
$5,000 is the sum Baker accrues as a projected liability for the redemption of box tops after the current year.
sold 100,000 boxes.
0.50 times the estimated redemption rate
50 000 anticipated redemptions
already redeemed 40,000 box toppers
10,000 box tops still need to be redeemed
2/box tops for each redemption
5,000 glasses are anticipated to be delivered.
Per glass price ($2 - $1) $1
Liability estimated at $5,000
What does financial redemption mean?The repayment of a fixed-income product, such as a Treasury note, certificate of deposit, or bond, on or before its maturity date is referred to as redemption in the world of finance. Investors in mutual funds can ask their fund manager to redeem all or a portion of their shares.
Calculating the redemption rate- The total number of customers who have ever used points may be found here. The total number of consumers who have ever accrued points may be found here. Total consumers who have ever used points is equal to the sum of all customers who have ever earned points.
The best leading indicator of how well-run your loyalty program is is its redemption rate. This is so that you can see how many points your members are actually using.
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Porter is visiting india and would like to purchase some local spices. he finds some spices that cost 452.95 rupees. if the current exchange rate is 1 dollar:73.6500 rupees, how much do the spices cost in u.s. dollars? $0.06 $16.26 $33,359.77 $6.15
The cost of the spices in U.S. dollars is $6.15
What is exchange rate?
The exchange rate of one currency in respect of another is the amount of the local currency that exchanges hands for 1 unit of the foreign currency, in other words, the exchange rate of the Rupees in this case, is 73.6500 rupees equal $1, we need to determine the cost of the spices whose rupee price 452.95 rupees in this dollars
73.6500 rupees=$1
452.95 rupees= 452.95/73.6500*$1
452.95 rupees=$6.15
The cost of the spices in dollars is $6.15, hence, the last option is the most appropriate cost of the spices when converted to the dollars.
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polska, incorporated, is obligated to pay its creditors $9,300 during the year. what is the value of the shareholders’ equity if assets equal $11,100? what is the value of the shareholders’ equity if assets equal $8,700?
Total assets=Total liabilities+ Total equity
=> Total equity= total asset - total liabilities
a. Share holders equity=(11100-9300)= $1800
b. Share holders equity=(8700-9300)= -600 ~ 0
Rounded -600 to nearest whole number, that is 0
What are shareholders?
A shareholder may be a individual or institution that has contributed cash in a enterprise in trade for a “share” of the possession. That proprietorship is spoken to by common or preferred offers issued by the company and held (i.e., claimed) by the shareholder. The shareholders are the proprietors of the company and give money related backing in return for potential profits over the lifetime of the company.
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What arguments would support unitech's focus on technical skills among first-line supervisors? what arguments could be made against that focus? what are the pros and cons of periodically sending top managernent out to work alongside non-management employees? what arguments would support unitech's focus on technical skills among first-line supervisors? what arguments could be made against that focus? what are the pros and cons of periodically sending top managernent out to work alongside non-management employees?
Make a list of the arguments that favor unitech's emphasis on technical proficiency among first-line supervisors, along with its advantages and disadvantages.
First off, we should note that an argumentative speech is an argument that draws on knowledge and facts concerning a certain subject. Therefore, you should include both the advantages and disadvantages of your argument in your speech. The correct response would therefore be to "create a list of pros and disadvantages about the claim."
An argumentative speech persuades the audience to support the speaker's position, and the speaker typically addresses a subject they are passionate about. The speaker presents a specific claim before addressing arguments in favor of the assertion. The audience should be aware of the action that should or should not be taken at the conclusion of the speech and why.
Argumentative speeches frequently address trending issues and challenge the audience's preconceived notions. The speaker presents a clear problem at the outset of the speech, then proceeds on to demonstrate evidence of that problem before presenting a remedy in the body of the speech.
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For a customer of Lush, how will their MVV translate to your experience?
For an employee of Lush, for example a shop worker – how might the companies MVV affect your working life, your daily experience and your perspective of the business?
give three examples of how an organization’s previous technology investments or experiences can affect decisions concerning the design of a new product, service, or other development efforts.
Technological change can bring benefits and opportunities to businesses. Clearly, new technologies create new products and services, creating entirely new markets for Investments. In addition, technological product and process improvements increase productivity and reduce costs.
1. Developers and other support personnel trained in specific technologies.
2. Investments in specific hardware or operating systems.
3. Organizations can invest in internally developed frameworks and reuse them in new developments.
This includes communicating, storing, and retrieving information. In general, technology can be used to improve teaching and learning, make administrative processes more efficient and effective, discover knowledge, and improve access to information.
Three specific aspects of the organizational environment are affected by technological change. The level of market competition and uncertainty will increase. The diversity and quality of the organization's products and services are required. and Foreign Policy and Legislative Reform
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on june 1, cline co. paid $1,069,000 cash for all of the issued and outstanding common stock of renn corp. the carrying amounts for renn’s assets and liabilities on june 1 follow:
Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
The answer is $208000.
Goodwill Calculation
Consideration paid 1069000
Less:
Cash 209000
Accounts Receivable 218000
Capitalized software cost 337000
Liabilities (143000)
In-process research and development 240000
Goodwill 208000
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Accountants refer to an economic event as a
a. Purchase.
b. Sale.
. Transaction
d. Change in ownership.
Accountants refer to the economic event as a transaction.
Accounting is referred to a broad area, as it is the process of summarizing, analyzing, and reporting transactions occurring in the normal operations of the company. Thus, an Accountant helps the businesses in order to make the critical financial decisions by tracking, collecting, and correcting the company's finances.
Whereas, the transactions are the deliberate acts performed by the business entities. So in accounting, all the transactions are recorded, as and when they take place. Here only those events are recorded in the books of accounts which are considered of financial in nature.
Hence, option C is correct.
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you have taken a job with a software user who has contracted your previous employer to develop a system for them. you discover that your company’s interpretation of the requirements is different from the interpretation taken by your previous employer. discuss what you should do in such a situation. you know that the costs to your current employer will increase if the ambiguities are not resolved. however, you have also a responsibility of confidentiality to your previous employer.
For TEH construction purpose Clearly defining both functional and nonfunctional requirements in software engineering projects is important from both a business perspective.
What information about an employer is private?Employer Confidential Information is any information that the Executive is aware to be trade secrets or proprietary information owned by the Employer, as well as any other confidential financial data, operating budgets, strategic plans, or research techniques, as well as personnel data, projects, or plans.
What information may a former employer reveal?Employers are legally permitted to disclose any honest information about your prior work performance in the majority of states. The good news is that most companies won't do it since there's a chance you'll file a defamation lawsuit, which would be expensive to defend.
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a business is concerned with many day-to-day activities. some of the most important of these activities are the planning and development of a product, its pricing policy, and the distribution strategy. these activities are all a part of: group of answer choices a control system marketing accounting production
Marketing deals with price, product, place, and promotion that are related to the activities mentioned.
Marketing refers to promoting a product or service or brand. It is the process that creates value and the needs, wants, and desires of customers are fulfilled. So, conception, pricing, promotion, and distribution of ideas, goods, and services are planned and executed in marketing so that it can satisfy the customers and help the organization achieve its objectives.Marketing is important because it makes the business create an impression in people's minds and build a long-lasting relationship with the customer. It helps in communicating the value proposition to the customers. It helps to sell the company's products or services and ensure that the business grows.Know more about marketing:
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A point outside the production possibilities curve represents a combination of goods that is:____.
a. inefficient.
b. efficient.
c. unattainable.
d. attainable.
A point outside the production possibilities curve represents a combination of goods that is to be unattainable.
What is meant by Production possibilities curve ?
In economics, the maximum output of two items with a fixed quantity of input is represented by a production possibilities curve. The four production factors—land, labor, capital goods, and entrepreneurship—in any combination make up the input.
The production possibility curve illustrates the cost of society's decision to choose between two different goods. An economy that is operating at the very edge of this curve, or the production possibility frontier, has the highest quality of living it is capable of having since it is using its resources to produce as much as possible. The curve indicates that not all of the resources are being used if the amount produced is inside it.
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Please answer dis properly in your own words!!!
For every hour you practice basketball, you gain in skill and increase your chances of making the team. However, each hour you practice is an hour you could have spent working at an after-school job in a UAE company to save for a car or college or something else you want. Which will you do basketball practice or after-school job? Construct a decision making grid that analyzes the potential choices of attending practice at an after-school job. Which option would you choose. (the middle column might be amount of money earned, for example, based on an hourly wage.)
Answer:
Basketball 50/50 and job 50/50
Explanation:
99.) here are all the sales in your area in the last 4 months. they sold for: $178,500, $166,000, $172,750, $182,000, $168,000, $174,000, $176,000, $184,000, $170,000, $175,000, $172,000, $181,500. what is the mean sale price?
The sales in your area in the last 4 months the mean sale price $174,979.
In mathematics, what is the sale price?the cost after a discount has been applied to the original cost. $8.00 is being sold here. If the discount is a %, we must first determine how much it will be: • Discount rate times discount amount equals the original price.
What is the cost and an illustration?As a result, a sale price of $70 will be achieved with a 30% discount on a $100 list price. Another way to understand the phrase is to say that it simply refers to the selling price of an item. For instance, a piece of art would be sold for that amount if bids reached a record high of $10 million.
Price and sale price definitions?The price you want to list your goods for normally on Amazon is known as "your price. The price you use while holding a sale on that item is known as the sale price, on the other hand.
How do price and sale price differ?Your desired list price for your goods on Amazon is referred to as "your price. On the other hand, the sale price is the cost you apply while holding a sale on that particular item.
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if a grocery store imposes slotting allowances from manufacturers, this interferes with customers' right to blank . multiple choice question. choose be heard safety be informed
If a grocery store imposes slotting allowances from manufacturers, this interferes with customers' choices, Option B.
Depending on your allowance, we can claim benefits 0-3 on your 2019 W4 IRS form.
In general, the more deductions you claim, the less tax you will be deducted from each paycheck. The fewer benefits you claim, the greater the withholding amount you may be refunded.
An allowance is a portion of something given to a person, usually related to money or goods in exchange for services. An example of pocket money is the money parents give their children each week to do household chores. Some, especially money. The
Withholding Deduction allowance the amount of income tax withheld from an employee's salary. The employee files her IRS Form W-4 to report benefits withheld. Once you know your employee's withholding tax, you can use the PayScale Act to calculate your federal income tax.
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Consider the market for chicken. assuming that chicken and beef are substitutes, an increase in the price of beef will:______.
Consider the market for chicken. assuming that chicken and beef are substitutes, an increase in the price of beef will increase the number of people who want chicken, which causes the price of chicken to rise as well as the number of chickens that are bought at the market.
This is further explained below.
What is the market?Generally, A market is a location where buyers and sellers may gather in order to make the process of exchanging or transacting products and services more efficient.
Markets may either be physically present, such as a retail establishment or virtually present, such as an online merchant. Illicit markets, auction markets, and financial markets are three other types of marketplaces.
A price is the amount of money or other kinds of remuneration that one party offers to another in exchange for the provision of products or services.
There are various contexts in which a different term is used to refer to the cost of manufacturing.
If the item is considered a "good" in the context of the business transaction, the term "price" will most often be used to refer to the amount of money paid for it.
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CQ
Consider the market for chicken. An increase in the price of beef will
a. decrease the demand for chicken, resulting in a lower price and a smaller amount of chicken purchased in the market.
b. decrease the supply of chicken, resulting in a higher price and a smaller amount of chicken purchased in the market.
c. increase the demand for chicken, resulting in a higher price and a greater amount of chicken purchased in the market.
d. increase the supply of chicken, resulting in a lower price and a greater amount of chicken purchased in the market.
the stock of flop industries is trading at $47. you feel the stock price will decline, so you short 900 shares at an initial margin of 80 percent. if the maintenance margin is 40 percent, at what share price will you receive a margin call?
You will receive a margin call at a share price of $60.43 if the maintenance margin is 40%.
Margin Call Price = (Sales Proceeds + Initial Deposit) / [Number of Shares × (1 + Maintenance Margin)]
Proceeds from short sale = 900 × $47 = $42,300
Initial deposit = $42,300 (.80) = $33,840
Account value = $42,300 + $33,840 = $76,140
Margin call price = $76,140 / [900 × (1+.40)] = $60.43
What Is the Maintenance Margin?Maintenance margin, or the minimum equity an investor must maintain in a margin account after a purchase has been made, is required to be established at 25% of the entire value of the assets in the account by the Financial Industry Regulatory Authority (FINRA).
What is a maintenance margin call, exactly?When a margin call is issued by a broker, the investor is asked to increase the amount of money or securities in their account to bring it up to the Maintenance margin, which is the minimum amount that must be maintained to prevent a loss.
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When bread is baked but put away for later sale, this is called? investment in inventory. waste. saving. fixed investment.
When bread is baked but put away for later sale, this is called investment in inventory.
What is meant by Investment in terms of Inventory ?
An economy's shift in inventory levels from one time period to the next is measured by inventory investment. Since they frequently correlate with the amount of the gross domestic product in an economy, economists keep a close eye on these numbers. Inventory investment is categorized as positive if inventory levels increase over time, and as negative if they decrease. Despite its limitations, this assessment is frequently a reliable predictor of an economy's future course.
An economy's overall performance can frequently be predicted by the quantity of inventory investment. For instance, during recessions, inventory levels frequently decrease as a result of businesses cutting costs and adapting to a drop in product demand.
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an account is governed by compound interest. the interest for three years on $402.00 is $55.00. find the amount of discount for two years on $1,000.00 .
Almost always used in the amount of discount phrase to anything or amount to something, which both mean the same thing. He got arrested so much as a teenager that I never thought he would amount to anything, but look at him now he's an accomplished musician.
Also, due values
522 = 470( Hr) > r= 222
= 1906383 +70
7 WY = Frit06383
2 47 = 16035597423
> v= 10386-4
> y= 00354
Tutoert hate, Y= 0-03S6X
Aus, wih: hg oe i hee oe
low
ToD
o) Discounted Presut value =
Lovo
(Grease)
U0356)*
1000
1-0424-6736
= G32.42931
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The equilibrium price and quantity in a market usually produce allocative efficiency because.
Equilibrium prices and quantities in the market usually guarantee distribution efficiency. Because the marginal benefit and marginal cost are the same at that point. Allocation efficiency refers to the production of the set of products most demanded by society.
Equilibrium is defined as a state of equilibrium or a stable situation in which opposing forces are in balance with each other and no change occurs. An example of equilibrium is an economy when supply and demand are equal. An example of balance is when you are calm and stable.
There are three types of equilibrium: stable, unstable, and neutral. The pictures in this module show various examples. Balance is key to creating both a balanced and efficient market. If the market is in equilibrium between price and quantity, then there is no reason for the market to move away from that point because quantity supplied and quantity demanded are in equilibrium.
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lorenzo company uses a job order costing system that charges overhead to jobs on the basis of direct materials cost. at year-end, the work in process inventory account shows the following.
Direct material is the bodily items constructed right into a product. as an example, the direct substances for a baker encompass flour, eggs, yeast, sugar, oil, and water. The direct substances concept is used in cost accounting, in which this price is one at a time categorised in numerous styles of financial analysis.
I Overhead rate
choose Numerator: 7 (select Denominator, |= [Overhead fee
(Overhead costs 1 Direct materials value = (Overhead rate
‘$612,000 ‘$1,800,000 34%
the entire fee of the job in the procedure is 90000
much less: Overhead applied 19180 (27000°zero.34)
‘less: materials fee activity in procedure 27000
Direct material hard work value 53820
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in the solow growth model, two economies are identical except for their initial stock of capital (????). in the long run the ratio of their per capita gdp is . in the romer model, two economies are identical expect for their initial stock of knowledge (????). in the long run the ratio of their per capita gdp is . a. infinite; one d. one; constant b. one; zero e. constant; infinite c. zero; one
The Solow Growth Model, an exogenous model of economic increase, examines changes in an economy's output level over time as a result of variations in the rates of population growth, savings growth, and technological advancement.
The Solow Growth Model is what, exactly?The Solow Growth Model is an exogenous economic growth model that examines changes in an economy's output level over time as a result of changes in the population growth rate, the savings rate, and the pace of technological advancement.
The Keynesian Harrod-Domar model served as the foundation for the first neoclassical growth model, the Solow Growth Model, which was created by Nobel Prize-winning economist Robert Solow. Modern theories of economic growth are built on the Solow model.
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select all that apply analyzing the accounting equation at the end of the month will reveal the following. select all that apply. multiple select question. assets
At the end of the month, when the income and costs should change in the equity account, the accounting equation should be examined.
What is an accounting equation?The core of the double-entry accounting system is said to be the accounting equation.The accounting equation demonstrates that a company's total assets are equal to the total of the company's liabilities and shareholders' equity on its balance sheet.The valuable resources that the corporation controls are represented by its assets. The liabilities are their commitments.The financing of a company's assets is shown by its obligations as well as its shareholders' equity.While funding obtained through the issuance of stock shares appears in shareholders' equity, financing obtained through debt displays as a liability.Assets and liabilities are the two main categories on the balance sheet that determine the financial status of every company, no matter how big or little.To know more about accounting equation, refer to the following link:
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Paying by check helps a business to control cash when the ______. (select all that apply.)
Paying by check helps a business control cash when the: manager studies the documents supporting the payment before signing the check and checks are pre-numbered and written sequentially. Options A and C
This is further explained below.
What is business?Generally, An organization or entrepreneurial body that engages in commercial, industrial, or professional activity is what we mean when we talk about "doing business."
Both for-profit and non-profit groups may operate under the business umbrella. There are many different kinds of businesses, such as sole proprietorships, partnerships, corporations, and limited liability companies (LLCs).
Payment is the voluntary tender of cash or its equal or of objects of value by one party to another in return for goods or services given by them or to meet a legal duty.
Payments may also be made in order to fulfill a legal requirement. It is standard practice to refer to the party that is making the payment as the payer, while the party that is receiving the money as the payee.
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CQ
Paying by check helps a business to control cash when the ______. (Check all that apply.)
a. manager studies the documents supporting the payment before signing the check
b. checks are deposited only at the company's bank
c. checks are pre-numbered and written sequentially
go to the st. louis federal reserve fred database and find data on currency (currsl), demand deposits (demdepsl), and other liquid deposits (mdlm). calculate the m1 money supply, and calculate the percentage change in m1 and in each of the three components of m1 from the most recent month of data available to the same time one year prior. which component has the highest growth rate? the lowest growth rate?
Wallis and Futuna Islands would have the lowest growth rate of -1.35%. Apart from Wallis and Futuna Islands, the Population of Lithuania, Puerto Rico, and Latvia would decline by above 1 %. Nagaland recorded the lowest growth rate of -0.5 percent.
000-500/100,000 = 500/100,000 = 0.005, or 0.5% net growth. Thus, this population would be growing by 0.5% this first year. That means that after one year, there will be 500 more. individuals than the previous year.
The growth rate of a value (GDP, turnover, wages, etc.) measures its change from one period to another (month, quarter, year). It is very generally expressed as a percentage.
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When demand is relatively price , the coefficient for the price elasticity of demand will be less than one.
When demand is relatively price inelastic, the coefficient for the price elasticity of demand will be less than one.
How are demand and price related to ach other?
The law of supply and demand is an economic theory that explains how supply and demand are related and how this relationship affects the price of goods and services.
A basic economic principle is that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise.If demand does not change, there is an inverse relationship between supply and prices of goods and services.If the supply of goods and services increases while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.If the supply of goods and services falls while the demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services.To learn more about law of supply, refer to:
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