The amount would sanders record as revenue on august 4 is $5,000.
Under Gross method - It will record as 5000
Under Net method - It will record as 4850 (after deducting discount)
When documenting purchase discounts, the gross method records the purchase and the payment at the gross amount prior to any discount. The amount of the discount will be credited to an account called Purchase Discounts if the company accepts it. A adjusting entry is made to determine the cost of goods sold before this account is ultimately closed into Cost of Goods Sold. As a result, the cost of the items sold is decreased by the amount of the discount received.Inventory purchases made with a cash discount might be recorded using the net method. The net technique presupposes that the store consistently benefits from the cash price reduction and records the inventory purchases at the reduced price.Learn more about Gross method, here
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As a last step before mario hits send on a company press release, what should he do to ensure it is accurate? question 4 options: produce an outline to organize the content in the document double-check all spellings and numbers in the document evaluate the logic and persuasiveness of the document change the font that is used in the document
Answer:produce an outline
Explanation:
As a last step before Mario hits send on a company press release, ensure it is accurate he should produce an outline to organize the content in the document. Option A is an appropriate response.
What is an outline in a document?The structure of a document is generated by the headings, form titles, table titles, and any other appropriate landmarks to map out the document.
An outline is a tool used to logically organize written ideas about a topic or thesis. Outlines group major topics, subtopics, and supporting details together. When writing papers, writers use outlines to determine which topics to cover and in what order.
Outline can provide feedback on the topics you're discussing, ensuring that you haven't overlooked anything or undervalued the significance of certain points. When you finally start writing, your documents will have a better structure thanks to this type of feedback.
Hence, Option A is an appropriate response.
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Green company has net credit sales of $100,000, an asset turnover ratio of 4, and a receivables turnover ratio of 9. What is the average collection period?.
Net credit sales = $100,000
Asset turnover ratio = 4
Receivables turnover ratio = 9
Average collection period= 365 days / Receivable turnover (9) = 40.6 days
What is Average collection period?
The amount of time it takes a business to collect accounts receivable payments due from customers is known as the average collection period (AR). Businesses use the average collection period to make sure they have enough cash on hand to satisfy their financial obligations. The average collection period is a crucial indicator of how well a business handles its accounts receivable for companies whose cash flows are heavily dependent on receivables. Businesses decide the average collection period to ensure they have enough cash on hand to satisfy their financial obligations.
Average Collection Period = 365 Days * (Average Accounts Receivables / Net Credit Sales)
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Three years ago, kenesha purchased $2,000 worth of stock in a major u. S. Corporation. Today, kenesha decides to sell all her shares for $15,000. Kenesha will be subject to.
If three years ago, Kenesha invested $2,000 in stock in a significant U.S. corporation, she will be liable for Long-Term Capital Gains of $13,000.
Long-term capital gains are those from stock sales made after holding the stock for longer than 24 months.
Long-term capital gain is calculated as Sale Price – Purchase Price, which is 15,000 – 2,000, or $13,000.
The long-term capital gain or loss is determined by comparing the value of the purchase and sale prices. This sum reflects the investor's net gain or loss on the sale of the asset. Short-term capital gains or losses are the net profit or loss an investor experienced upon the sale of an asset held for less than a year. Internal Revenue Service (IRS) taxes long-term capital gains at a lower rate than it does short-term capital gains.
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Parts for an automobile repair cost $175. The mechanic charges $35 per hour. If you receive an estimate for at least $245 and at most $315 for fixing the car, what is the time interval that the mechanic will be working on the job?.
The time interval for the mechanic for this job is at least 2 hours or at most 4 hours.
According to the given question parts for an automobile repair cost 175 dollars and the mechanic charges 35 dollars per hour.
Given the person receives a cost of at least 245 dollars.
The mechanic's total rate is (245 - 175) dollars which is = 70 dollars.
Also given the mechanic charges 35 dollars per hour so the time mechanic work for is at least (70/35) hours which is = 2 hours
In the later case when the owner receives a bill of 315 dollars the total rate of mechanic is
= (315 - 175) dollars.
= 140 dollars.
So, the mechanic has worked for (140/35) hours which is 4 hours.
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you and your spouse are in good health and have "reasonably secure" careers. you each make about $50,000 annually. you own a home with a $125,000 mortgage, and you owe $10,000 on car loans, $20,000 in personal debts, and $6,000 on credit card loans. you have no other debts. you don’t have any plans to increase the size of your family in the near future. the estimated cost of a funeral is $5,000 estimate your total insurance needs using the dink method.
Using the dink technique, a total of $90,500 in insurance would be required.
How Does Dual Income, No Kids (DINK) Work?A home with two earners and no kids are referred to as "dual income, no kids" (DINK) in slang. Due to the absence of the additional costs associated with having children, couples who live in DINK households usually have more money to spend.
As a result of the capacity to share living spaces like kitchens, baths, and bedrooms, they frequently spend less per person on housing than singles do. Contrast a living situation where both partners work and have children, called a DINK, with a DEWK to gain related understanding.
Calculation:
It is given that,
One-half of the mortgage = $62,500
One-half of a car loan = $5,000
One-half of personal debts = $10,000
One-half of credit card loans = 3,000
Funeral expenses = $5,000
Need for Insurance (DINK) = Half of Debts + Funeral Costs
= $62,500 + $5,000 + $10,000 + $3,000 + $5,000 + $5,000
= $90,500.
Therefore, Total Insurance Needs = $90,500.
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1. The science of economics is needed because
a. today people have everything they need
b. governments must make all economic decisions
c. people have unlimited wants and needs and limited resources
d. people can't be trusted to make good decisions
The science of economics is needed because people have unlimited wants and needs and limited resources.
Economics is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behavior and interactions of economic agents and how economies work.
Economics is the study of scarcity and its consequences for the use of resources, the production of goods and services, the growth of production and well-being over time, and a host of other complex problems vital to society.
Economics is essentially the study of people. It seeks to explain what drives human behavior, decisions, and responses when faced with adversity or success. Economics is a discipline that combines politics, sociology, psychology, and history.
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In reconciling the balance of cash in the bank account with the balance of cash per the company’s records, differences in the two balances are due to either timing differences or errors. True or false?.
The statement "In reconciling the balance of cash in the bank account with the balance of cash per the company’s records, differences in the two balances are due to either timing differences or errors." is True
This is further explained below.
What is a balance of cash?Generally, The quantity of money that is now available is known as the cash balance.
You may calculate it by taking the cash amount from the previous month and adding the cash flow from this month to it.
In conclusion, If the cash flow is negative, you will need to remove it from the prior cash balance. It's not a huge deal if you have a negative cash flow once in a while, even if it lasts for a whole month.
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The total demand rate for a resource is the sum of the individual demand rates that need to be processed by the resource. True or false?.
The total demand rate for a resource is the sum of the individual demand rates that need to be processed by the resource.
The given statement is True.
What is total demand rate?
Demand is an economic concept that refers to a consumer's desire to buy goods and services and willingness to pay a certain price for them. An increase in the price of a good or service tends to decrease the quantity demanded. Likewise, a decrease in the price of a good or service will increase the quantity demanded.Demand is a concept that consumers and businesses are familiar with because it makes sense and occurs naturally in the course of virtually every day. For example, customers who are interested in the products they want will buy more when the prices of the products are low. When something happens to increase prices, such as a change in season, shoppers buy less or maybe not at all.To learn more about total demand rate, refer to:
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Disney and other global firms have successfully bridged the cultural gap by producing advertising that appeals to the same target market across.
Disney and other global firms have successfully bridged the cultural gap by producing advertising that appeals to the same target market across countries.
What is advertisement?Advertisement can be defined as the process of creating brand or product awareness so as to increase sales or to generate sales.
Bridging the cultural gap has makes it possible for them to produce advert that tend to attract the same target market across countries.
Therefore Disney and other global firms have successfully bridged the cultural gap by producing advertising that appeals to the same target market across countries.
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True or false: when calculating the present value of an annuity using the financial calculator, you enter the cash flows of the annuity in the pmt key.
When calculating the present value of an annuity using the financial calculator, you enter the cash flows of the annuity in the pmt key.
This statement is true.
A present value or PV calculation tells us about how much money would be required now to produce a single series of payments in the future by again assuming a particular set of interest rate.
The formula for calculating the present value of an annuity due will take into account the fact that payments are made at the beginning rather than the end of each period.
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If a company purchases equipment costing $5,500 on credit, the effect on the accounting equation would be:_________
In a condition where the company purchases equipment costing $5,500 on credit, the effect on the accounting equation would be a decrease in the liabilities for $5,500, and an increase in the assets for $5,500. Therefore, the option D holds true.
What is the significance of an accounting equation?An accounting equation can be referred to or considered as the equation that takes place in case of an accounting transaction, which has a debit and an equal credit effect.
Therefore, the option D holds true and states regarding the significance of accounting equation.
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The complete question has been added below for better reference.
If a company purchases equipment costing $5,500 on credit, the effect on the accounting equation would be:
A. Assets increase $5,500 and liabilities decrease $5,500.
B. Equity decreases $5,500 and liabilities increase $5,500.
C. Liabilities decrease $5,500 and assets increase $5,500.
D. Assets increase $5,500 and liabilities increase $5,500.
tack, inc. reported a retained earnings balance of $150,000 at december 31, year 1. in june, year 2, tack discovered that merchandise costing $40,000 had not been included in inventory in its year 1 financial statements. tack has a 30% tax rate. what amount should tack report as adjusted beginning retained earnings in its statement of retained earnings at december 31, year 2?
Correct answers is $178,000
Notes
A correction of an error is treated as a prior period adjustment, recorded in the year the error is discovered, and is reported in the financial statements as an adjustment to the beginning balance of retained earnings. The adjustment is reported net of the related tax effect. In this case the net-of-tax effect is $28,000 [$40,000 - ($30% × $40,000)]. This should increase beginning retained earnings because the understatement of 12/31/Y1 inventory would have resulted in an overstatement of cost of goods sold and therefore an understatement of retained earnings. Thus, the adjustment 1/1/Y2 retained earnings is $178,000 ($150,000 + $28,000). Tack's journal entry to record the adjustment is:
DR Inventory 40,000
CR Retained Earnings 28,000
CR Taxes Payable 12,000
What are retained earnings?
Retained earnings is the amount of profit remaining after a company has paid all direct costs, indirect costs, income taxes and dividends to shareholders. This represents a portion of the company's equity that can be used to invest in new equipment, research and development, and marketing, for example.
What are retained earnings?
Retained earnings is the cumulative net profit and loss of a company over all the years the company has been in operation. Retained earnings form part of shareholders' equity on the balance sheet.
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an account is described as: multiple choice question. the relationship between assets and liabilities and owner's equity written records of the assets, liabilities, and owner's equity of a business an entry on the left side a statement to test the accuracy of total debits and credits after transactions have been recorded
Option A is correct. An account is a record in an accounting gadget that tracks the monetary things to do of a precise asset, liability, equity, revenue, or expense. These records enlarge and limit as the commercial enterprise events appear in the course of the accounting period.
What is the use of an account?In accounting, an account is used for recording a dollar balance and a history of adjustments to that balance.
The dollar stability may be associated with an proper financial institution account, or it may additionally characterize the money owed you by way of a client. It may also characterize income, expenses, or the price of assets that you own.
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https://brainly.com/question/25746199#SPJ4What are the purposes of the accounting system? 2. what is the difference between cost reporting and cost control? 3. what are the key components of an accounting system that facilitate cost control?
A company can keep track of all kinds of financial activities with the use of an accounting system, including purchases (expenses), sales (invoices and income), obligations (funding, accounts payable), etc.
Other purposes of the Accounting System: transactions are recorded: the basic function of accounting is to keep a systematic, accurate, and comprehensive record of all financial transactions of an organization.
BUDGETING AND PLANNING.
DECISION MAKING.
BUSINESS PERFORMANCE.
FINANCIAL POSITION.
LIQUIDITY.
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assume that kubin company produced 17,000 units and expects to sell 16,740 of them. if a new customer unexpectedly emerges and expresses interest in buying the 260 extra units that have been produced by the company and that would otherwise remain unsold, what incremental selling and administrative cost per unit is incurred to sell these units to the customer?
The incremental and administrative cost per unit to sell the extra 260 units is 0.
Costs that are added or incurred as a result of producing or offering more units of a product or service are known as incremental costs.
To sell more units to clients, there is no increase in manufacturing costs per unit. This is due to the fact that 260 extra units were already manufactured and were intended to go unsold because, out of 17000 units, only 16740 were anticipated to be sold. However, the customer arrived unannounced and wanted 260 items that would have otherwise gone unsold. This eventually lead to a benefit for the company and saved them a lot of costs that would have been incurred in selling those extra 260 units.
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Privatization is often seen as a cure for bureaucratic inefficiency and waste; some economists estimate that privatization improves efficiency and reduces operating costs by as much as?
Many people believe that privatization is the solution to bureaucratic waste and inefficiency; some economists believe that privatization increases efficiency and lowers operating expenses by 20%.
How would you define privatization?
Privatization is the process of transferring a company or industry from the public to the private sector. The area of the economy that is controlled by the government is known as the public sector.
Can privatization increase effectiveness?
Companies like BT and British Airways have demonstrated varying degrees of increased efficiency and profitability since privatization. Governments are frequently observed to be ineffective economic managers. Instead of being driven by strong economic and commercial judgment, they are driven by political forces.
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Full Question :- Privatization is often seen as a cure for bureaucratic inefficiency and waste; some economists estimate that privatization improves efficiency and reduces operating costs by as much as
a) 5 percent.
b) 10 percent.
c) 15 percent.
d) 20 percent.
on august 1, harvey company offered to pay $10,000 for equipment that was advertised as being sold for $20,000 by carrone company. the equipment had a retail value of $23,000 on that day. on august 10, carrone company offered to sell the equipment for $11,900, and harvey company agreed to buy it at that price. at what value will harvey company record the equipment on its books? a.$23,000 b.$10,000 c.$11,900 d.$20,000
On August 1, Harvey's company offered to pay $10,000 for equipment that was advertised as being sold for $20,000 by the current company $14,700.
Equipment is a tangible long-term asset that benefits a business over several years of use. Computers, trucks, and manufacturing machinery are all examples of equipment. They are tangible because they have a physical form unlike intangible assets (such as patents, trademarks or copyrights) that do not.
Cash paid to buy equipment = $14,700
Retail value of equipment = $23,000
Price offered by Harvey Company on August 1 = $13,000
Price advertised on August 1 by the seller = $19,000
Harvey company will record the equipment in its books at the price paid i.e $14,700.
The price offered by Harvey company or the price advertised by the seller is not the consideration price at which the transaction took place.
The correct option is a.
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Explain the difference between the elements of the communication process and the Communication process.
please gimme brainliest!
Answer:
seven
Explanation:
Seven major elements of communication process are: (1) sender (2) ideas (3) encoding (4) communication channel (5) receiver (6) decoding and (7) feedback.
Communication may be defined as a process concerning exchange of facts or ideas between persons holding different positions in an organisation to achieve mutual harmony. The communication process is dynamic in nature rather than a static phenomenon.
develop a research instrument that can be used to assess customers buying behavior of any product of your choice
Develop market research, a research tool that can be used to evaluate the buying behavior of selected products. A customer is a natural or legal person who purchases goods or services from another company.
Customers are important because they generate income. Without them, the business cannot continue to exist. A customer's demand is a demand that motivates the customer to purchase a product or service. A requirement can be known (ie, uttered by the customer) or unknown and is the final factor in determining which solution the customer will purchase.
The definition of a customer is a person who purchases goods or services in a store, restaurant, or another retail outlet. An example of a customer is someone who goes to an electronics store and buys a TV. (informal) A person, especially a person, begins some kind of interaction with another. A consumer is an individual or group of end users of a product or service. Here are some examples: A person who pays a barber to cut and style their hair. A company that buys printers for businesses.
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What term describes a steady flow of income that funds the services for a
community?
4
(1 point)
O revenue stream
O cost of living
O tax return
O deficit
A revenue stream means the steady flow of income that funds the services for a community.
What is a revenue stream?Basically, this refers to the source or category of sources of some revenue of a company, organization, regional, national economy etc. In the context of business, the revenue stream are generally made up of either recurring revenue, transaction-based revenue, project revenue, or service revenue.
As these revenue streams means those various sources from which a business earns money from the sale of goods or the provision of services, hence, it means the steady flow of income that funds the services for a community.
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to what extent are we all being duped by product placement and false realities presented to us by commercial advertising and news media? what are the essential differences between the truman predicament and our own?
To some extent, we are deceived by product placements and false realities presented by commercial advertising and news media. The show is airing live 24/7, so product placement is an obvious option for advertising, as there is no way to interrupt the commercials.
Commercial advertising is defined as being delivered through cinematographic film or video media to attract consumer attention or convey consumer sentiment about the impact of a particular product, service, event, or thing. Means the intended advertising message.
Commercial Advertising means advertising for commercial gain that promotes or identifies goods and/or services as a result of the promotion of a company name, rather than advocating a social or political purpose. Commercial advertising means the promotion of products, services, and other advertising opportunities.
Commercial advertising includes radio, internet, and television advertising. Radio programs often benefit from the fact that companies can broadcast short commercials. Internet advertising, such as banners, online video ads, and text ads, is also common and a popular way to reach potential customers.
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Many business experts contend that __________ will likely be the growth market of the future.
Many business experts contend that Asia will likely be the growth market of the future. Thus, option A is correct.
What is the market?Markets are places where individuals, businesses, and industries exchange, whether it be for the purpose of purchasing, renting or delivering services. They use in order to earn a living.
According to the Global market conditions and development and the changes, it is likely said that the market of the future market of Asia will likely grow in the near future and will be converted into a developed country. Therefore, option A is the correct option.
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The question is incomplete, the complete question will be:
A) Asia
B) South America
C) the Middle East
D) Africa
pugh co. reported the following in its statement of stockholders' equity on january 1, year 2: common stock, $5 par value, authorized 200,000 shares, issued 100,000 shares $500,000 additional paid-in capital 1,500,000 retained earnings 516,000 $2,516,000 less treasury stock, at cost, 5,000 shares (40,000) total stockholders' equity $2,476,000 the following events occurred in year 2: may 1 - 1,000 shares of treasury stock were sold for $10,000. july 9 - 10,000 shares of previously unissued common stock were sold for $12 per share. october 1 - the distribution of a 2-for-1 stock split resulted in the common stock's per share par value being halved. pugh accounts for treasury stock under the cost method. laws in the state of pugh's incorporation protect shares held in treasury from dilution when stock dividends or stock splits are declared. in pugh's december 31, year 2, statement of stockholders' equity, the par value of the issued common stock should be
the per value of the issued common stock should be $212,000
On January 1, there were 95,000 shares outstanding (100,000 issued – 5,000 treasury shares). That number was raised to 106,000 shares (95,000 + 1,000 + 10,000) by the sale of treasury stock and the issuing of previously unissued shares. The number of outstanding shares increased to 212,000 (106,000 shares multiplied by 2).
Equity held by shareholders refers to the sum that a company's founders have contributed to the enterprise. This covers the funds they have personally invested as well as the total amount of profits the business has generated and reinvested since its establishment. Additionally, the assets of the business are not the same as shareholders' equity. On a balance sheet, assets always equal liabilities plus shareholders' equity. Assets are what the company owns.
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a consultant studying turnover at apple computer by reviewing the orientation procedures and initial training for new hires illustrates the aspect of organizational behavior.
The individual-organizational interface part of organisational behaviour is shown by a consultant who looked at the orientation process and first training for new recruits while researching attrition at Apple Computer.
Interventions at the Individual-Organizational Interface (IOI) frequently entail educator capacity building and cooperative problem-solving exercises that assist staff in adapting to or meeting workplace expectations. the value of investigating organisational behaviour. Fundamentally, organisational behaviour investigates how social and environmental elements affect how people behave either individually or in groups. An organization's effectiveness is greatly influenced by how its members cooperate, engage, and communicate. According to organisational behaviour, incentives are crucial components of employee motivation for displaying good performance. The way that organisations behave affects how people make decisions. Businesses that can make it a part of their company culture to encourage taking risks when making decisions may boost innovation and creativity.Know more about organisational behaviour:
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An increase in prices of inputs will cause a _change in prices with an elastic demand as opposed to an inelastic demand. The change in input prices will cause a ___change in quantity if demand is elastic as opposed to an inelastic demand.
An increase in prices of inputs will cause a relatively small increase change in prices with elastic demand as opposed to inelastic demand. The change in input prices will cause a relatively small drop change in quantity if demand is elastic as opposed to inelastic demand.
The lowest price at which a company can sell a product while still making a profit is determined by the input prices. The cost of making the good is reflected in this pricing. To create an output while producing a good or service that is in demand, a process must be applied to the inputs. The prices of the things that a company pays for in order to make its goods are referred to as input prices. All costs involved in producing the in-demand product are added together to get the total input cost. The input price is calculated by dividing the output quantity by the unit price.
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you showhat message does the following mission statement communicate? our customers are the most important stakeholder in our business. therefore, we go to extraordinary lengths to satisfy and delight our customers. we want to meet or exceed their expectations on every shopping trip. we know that by doing so we turn customers into advocates.uld treat all customers equally. this is simply fair practice and good business.
Answer: referred rgregregerhimy hsd
Explanation:
If the ncua charges 3.3 cents per 100 dollars insured and credit union m pays $5,995 in ncua insurance premiums, approximately how much is in credit union m’s insured deposits? a. $15.5 million b. $1.9 million c. $19.8 million d. $18.2 million
Option (d) is the correct answer. If the NCUA charges 3.3 cents per 100 dollars insured and Credit Union M pays $5,995 in NCUA insurance premiums, then approximately in Credit Union M's insured deposits, there will be $18.2 million.
Your payment for insurance coverage is known as the insurance premiums. To put it simply, premiums are the amounts you pay to insurance companies in return for coverage. So, consider "insurance deposit" instead of "insurance premium" when you hear that term. Typically, depending on the insurance, premiums are paid monthly, semiannually, or annually. The average amount that an insurer anticipates paying for treatments covered by the plan, plus a loading factor that accounts for the insurer's deposit, and operational costs, make up the premium charged for private health insurance policies.
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Answer: $18.2 million (D)
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Consider a good produced in a competitive market, but one with external benefits. The market price will result in too ______________ of the good for economic efficiency. The market price will be ______________ than the price that would convince producers to produce the efficient amount.
The market price will result in too little of the good for economic efficiency. The market price will be lower than the price that would convince producers to produce the efficient amount.
What is economic efficiency?
The definition of economic efficiency is the distribution or allocation of all goods and factors of production in an economy to their most valued uses while minimising or eliminating waste. Economic efficiency refers to the usage and allocation of each limited resource in an economy among producers and consumers in a way that maximises economic production and benefits for consumers.
Effective distribution of consumer and producer commodities among different consumers and companies, as well as effective production decisions made inside firms and industries, can all contribute to economic efficiency.
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To ensure personnel assigned to engagements are independent in both fact and appearance, firms should ______.
To ensure personnel assigned to engagements are independent in both fact and appearance, firms should:
(1) identify threats to independence and take preventive actions to eliminate or reduce them to an acceptable level
(2) communicate proper independence requirements to personnel.
What is firm means in a business?
A firm is a for-profit business, usually formed as a partnership that provides professional services, like legal or accounting services. The theory of the firm possess that firms exist to maximize profits.
What are the functions of firm?
Firms employs different factors of production. This involves employing workers (labour) to produce goods and services. By employing labour, firms pay wages creating a continuous flow of income to households, which subsequently can be spent by households on goods produced by different firms.
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When researchers are examining how a culture industry can turn ideas into commodities in order to profit from them, they are doing research on ______.
When researchers are examining how a culture industry can turn ideas into commodities in order to profit from them, they are doing research on commodification.
What is commodification ?Commodification is the process by which something that previously lacked economic worth acquires a value capable of displacing other societal values. Relationships that were previously unaffected by commerce are transformed through the process into ones that are fundamentally commercial in everyday use. The idea itself is fairly wide and aids in comprehending key facets of teenage growth.
Hence, Turning ideas into commodities in order to profit from them, is Commodification.
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