Bartholomew's luxury furniture produces handcrafted home goods with lifetime warranties. Bartholomew invests heavily in educating and training his team to help them avoid mistakes that could lead to defective products. according to the cost of poor quality, what category does this cost belong to Prevention.
What is handicraft?
Generally speaking, when a business, brand, or individual uses the terms handmade or handcrafted, they suggest that the item was manufactured by hand rather than by a machine.
However, these two expressions are not equivalent in a technical sense. The degree to which the maker or craftsman participates in the production process determines the distinction between "handmade" and "handcrafted" goods.
Both methods do require using your hands to create them. But when anything is described as being handmade, it usually means that although machine manufacture may have helped produce some of the raw materials or pieces, the assembly was done by hand.
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jaynet spends $30,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $110,000 per year, and the other was for $80,000. however, she turned both jobs down to continue a painting career. if jaynet sells 25 paintings per year at a price of $8,000 each:
Accounting profit is $170,000.
Economic profit is $60,000.
What is accounting and economic profit?
Accounting profit is total revenue less explicit cost. Economic profit is accounting profit less implicit cost.
Explicit cost includes the amount expended in running the business. They include rent , salary and cost of raw materials. Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Accounting profit = total revenue - explicit cost.
Total revenue =price x quantity sold
Accounting profit = ($8,000 x 25) - $30,000 = $170,000
Economic profit = accounting profit - implicit cost
Economic profit = $170,000 - $110,000 = $60,000
Here is the complete question:
jaynet spends $30,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $110,000 per year, and the other was for $80,000. however, she turned both jobs down to continue a painting career. if jaynet sells 25 paintings per year at a price of $8,000 each:
What are the accounting profit?
What are the economic profit?
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in its analysis, how should cleantech include the disposal of the environmentally harmful waste product?
After doing the required analysis, it has been found that cleantech or cleaner technologies should include the disposal of the environmentally harmful waste product so that waste production can be minimized.
What are cleaner technologies?The majority of source reduction and waste minimization initiatives rely on cleaner technologies, which are technologies that are technologically mediated.
These "cleaner" technologies are those that are both environmentally friendly and sufficiently effective to reduce waste creation. A basic phrase for goods, procedures, or services that minimize waste.
Thus, cleaner technologies are included so that environmentally harmful waste products can be minimized.
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the requirement that the economic activities of a business owner should be separated from the activities of the business is an example of which accounting assumption?
The economic activities of a business owner should be separated from the activities of the business is an example of Economic Entity accounting assumption.
What is Economic Entity?
One of the presumptions made by widely accepted accounting rules is that an economic entity exists. An enterprise can be almost any kind of social structure or unit. Hospitals, businesses, towns, and government organizations are some examples of monetary entities.One of the presumptions made by widely accepted accounting rules is that an economic entity exists.
Therefore,
The requirement that the economic activities of a business owner should be separated from the activities of the business is an example of Economic Entity accounting assumption.
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translation or specification gaps emerge when you focus too intently on industry standards or internal capabilities that are not aligned with customers’ real needs.
Translation or specification gaps emerge when you focus too intently on industry standards or internal capabilities that are not aligned with customers’ real needs is true.
Hard and fast standards inside an industry regarding the usual functioning and sporting out of operations in their respective fields of production. In other words, it is the usually widespread necessities accompanied by the aid of the participants of an enterprise.
Exceptional enterprise requirements approach the standards which fall inside the top quartile inside the relevant enterprise for the supply of similar services which might be notably similar to the services or the relevant part of them, having regard to factors that include the nature and length of the events.
The primary purpose of industry standards is to make exceptional products compatible with every other and to make certain customers that they can thoroughly mix and suit products from exclusive brands. They pressure enterprise innovation, and price discounts and permit an expansion of value-effective, simple-to-use, holistic solutions.
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quizlet what aspect of the control environment is affected by the company's decision to hire temporary workers?
Staffing agency employees are typically referred to as temporary or provided employees.
Whether or not the position is genuinely temporary, "temporary workers" are workers who are provided to a host employer and paid by a staffing agency. All employees have the right to a safe and healthy workplace, regardless of whether they are temporary or permanent.
Temporary Employee Protection: Employer Responsibilities
OSHA advises that the temporary staffing agency and the host employer outline their respective duties for compliance with applicable OSHA requirements in their contract to ensure that there is a clear understanding of each employer's duty in protecting employees.
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the four major types of transactions that affect equity in a business are , , owner's withdrawals, and owner's investments. note: enter one word for each blank.
The four major types of transactions that affect equity in a business are revenues, expenses, owner's withdrawals, and owner's investments.
What is an equity account?An equity account can be defined as a financial portrayal of ownership interests in a business firm, which may come from the business's earnings or payments made by stockholders and owners such as:
Preferred stockContributed surplusAdditional paid-in capitalRetained earningsTreasury stockCommon stockIn Business management, there are four (4) major types of transactions that affect equity in a business and these include the following:
RevenuesExpensesOwner's withdrawalsOwner's investments.In conclusion, all financial transactions such as revenue and owner's investment, that increase equity also increases the profits and capital.
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the value of toyota cars built in japan and the profits sent to japan for toyota cars assembled in germany are both components in japan's
The value of Toyota cars built in Japan and the profits sent to japan for Toyota cars assembled in Germany are both components in Japan's gross national income.
What do you suggest by using gross national income?
Gross national income (GNI) is defined as gross home product, plus internet receipts from overseas of reimbursement of personnel, belongings profits and net taxes less subsidies on production.
What is Gross national income and the way is it calculated?
Gross national income (GNI) is an alternative to gross home product (GDP) as a measure of wealth. It calculates earnings in preference to output. Gross national income can be calculated with the aid of adding profits from overseas sources to gross domestic product.
How is Gross national income one of a kind from GDP?
GDP is said to be the degree of a rustic's ordinary financial output. The Gross national income is the entire cost that is produced within a rustic, which accommodates of the Gross domestic Product together with the profits obtained from different international locations (dividends, interests).
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sue now has $280. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding?
In 8 years when Sue leaves $280 invested at 8.5% with annual compounding, she would have: $537.77
The formula for compound interest and procedure we will use to solve this exercise is:
C.I = P * [1+(R/100)]^T - P
Where:
P = principalR = rate of interest in % per annumT = timeInformation about the problem:
P = $280R = 8.5%T = 8 yearsTotal amount = ?Applying the compound interest formula, we get:
C.I = P * [1+(R/100)]^T - P
C.I = 280 * [1+(8.5/100)]^8 - 280
C.I = 280 * (1+0.085)^8 - 280
C.I = 280 * (1.085)^8 - 280
C.I = 280 * 1.921 - 280
C.I = 537.77 - 280
C.I = $257.77
Calculating the total amount that would be in my savings account, we get:
Total amount = P + C.I.
Total amount = $280 + $257.77
Total amount = $537.77
What is compound interest?It is the operation in which we calculate the profit produced by a capital loaned at a certain percentage and whose interest accrues to this capital every certain period of time.
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if both producers decided to trade with each other to stock their toy stores, the terms of trade that would benefit both geppetto and lewis (1 puppet
They would be willing to trade in the range of 2 puzzles per puppet to 5 puzzles per puppet.
Trade between two agents or countries allows the countries to enjoy the next total output and level of consumption than what would be possible domestically. Canada and Mexico can each specialize in the great they need a comparative advantage in and exchange with each other.
The terms of trade are dependent as long as they're between the 2 countries' opportunity costs. As an example, any amount of greater than 1/3 and fewer than 1 traded for 1 cotton shirt would represent interdependent terms of trade. The gains from trade are only supported by comparative advantage, not absolute advantage.
A person can have an absolute advantage in both goods or activities, and yet still gain from trade by specializing within the good or activity during which it's a comparative advantage. The theory of comparative advantage holds that whether or not one nation can produce all goods more cheaply than can another nation, both nations can still trade under conditions where each benefits.
Under this theory, what matters is relative efficiency. Even when one country has an absolute advantage altogether products, trade can still benefit either side. This can be because gains from trade come from specializing in one's comparative advantage.
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Complete question: If both producers decided to trade with each other to stock their toy stores, which of the following is a range of terms of trade that would benefit both Geppetto and Lewis (1 puppet = x puzzles)?
a company can only be concerned about its responsibilities once it has met its economic and legal responsibilities.
A company can only be concerned about its ethical responsibilities once it has met its economic and legal responsibilities. Option E
This is further explained below.
What are legal responsibilities?Generally, The term "legal responsibility" refers to the imposition of specific responsibilities onto a person, such as the duty to care for or provide for another person, in addition to the accountability for personal commitments that may be provided by a court order or a power of attorney.
In general, the term "legal responsibility" refers to the imposition of certain responsibilities onto a person.
One example of economically responsible behavior is when a corporation makes all of its financial decisions while maintaining its dedication to improving its performance in the aforementioned domains.
The ultimate goal is not just to maximize profits but also to have a positive impact on the people, society, and ecology of the whole planet. This is the ultimate aim.
In conclusion, After it has satisfied its financial and legal obligations, a firm may next turn its attention to the ethical duties that are its responsibility. Alternative E
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complete question
A company can only be concerned about its _____ responsibilities once it has met its economic and legal responsibilities.
A. stakeholder
B. societal
C. cultural
D. corporate
E. ethical
a home that was purchased for $440,000 with a $320,000 loan is now worth $530,000. the current loan balance is $280,000. what is the homeowner’s equity?
A home that was purchased for $440,000 with a $320,000 loan is now worth $530,000. The current loan balance is $280,000. The Homeowner's equity will be = $530,000 - $280,000 = $250,000.
In finance, equity is ownership of assets that may be associated with liabilities or other liabilities. Equity is determined for accounting purposes by subtracting liabilities from the value of assets.
What is the true meaning of equity?
Equity is defined as ,war "the state, quality, or ideal of being fair, impartial, or just." The concept of equity is synonymous with fairness and justice. It is helpful not to think of equity simply as a desirable state or a high value.
What is an example of equity?
Equity can be calculated by subtracting liabilities from assets and can refer to a single asset such as a company. B. Applies to real estate, or companies. For example, if someone owns a $400,000 house and has a mortgage of $300,000, the $100,000 difference is equity.
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the certification sponsored by the institute of management accountants that emphasizes economics, finance, management, financial accounting and reporting, management reporting, and decision analysis is the a.cma. b.cia. c.cpa. d.all of these choices are correct.
The certification sponsored by the institute of management accountants that emphasizes economics, finance, management, financial accounting and reporting, management reporting, and decision analysis is the CMA.
Four standards of ethical conduct in management accountants' professional financial accounting activities were developed by the Institute of Management Accountants. professional skills through continuous education.
As per the (IMA) institute of management accountants, there are mainly four standards which are competence, confidentiality, integrity, and credibility. Independence is not a standard for ethical conduct.
The CIMA code of ethics is made up of five fundamental principles: integrity, objectivity, confidentiality, professional financial accounting competence and due care and professional behavior: Integrity: being straightforward, honest and truthful in all professional and business relationships.
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when a store hires a new worker, which arena of exchange is involved—the factor market or the product market? explain.
Answer:
Factor Market
Explanation:
The factor market deals with all the resources that businesses use to purchase, rent, or hire what they need in order to produce goods or services. A new worker being hired falls under the factor market because they are being hired to produce goods or services for the store.
based on the recognition principle, revenue is recorded on the financial statements when the: payment is collected for the sale of a good or service. earnings process is virtually complete. value of a sale can be reliably determined. product is physically delivered to the buyer.
The recognition principle, revenue is recorded on the financial statements when the: (a)earnings process is virtually complete (b) value of a sale can be reliably determined.
What Are financial Statements?
Financial statements are written records that carry the enterprise activities and the financial performance of a enterprise. Financial statements are regularly audited via authorities companies, accountants, corporations, and many others. to make sure accuracy and for tax, financing, or making an investment functions.
What are the principle 3 financial statements?
The earnings declaration, stability sheet, and assertion of cash flows are required financial statements. These three statements are informative tools that investors can use to investigate a business enterprise's economic energy and offer a short photo of a enterprise's monetary fitness and underlying fee.
What are the four varieties of financial statements?
There are four fundamental financial statements. they're: (1) balance sheets; (2) earnings statements; (3) cash float statements; and (4) statements of shareholders' fairness. balance sheets display what a agency owns and what it owes at a fixed point in time.
What are the 6 basic financial statements?
The economic Accounting standards Board (FASB) has defined the following factors of financial statements of enterprise organizations: belongings, liabilities, equity, revenues, costs, gains, losses, funding with the aid of owners, distribution to proprietors, and complete earnings.
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organizations should scrutinize their appearance requirements to determine if they may result in religious discrimination.
This is a True and Firm Statement.
Organizations should carefully consider their dress codes to see if they might lead to religious prejudice.Rejecting a candidate for a job or promotion because they practice a certain faith. requiring an employee to perform more or different tasks because of their religious practices or beliefs. setting more stringent criteria for advancement for adherents of a certain faith
How does prejudice based on religion effect a person?The findings showed that melancholy and anxiety are impacted differently and specifically by perceived racial and religious prejudice. Racial discrimination, religious discrimination, and racial discrimination all predicted worse life satisfaction when measured concurrently. Racial discrimination also predicted despair and anxiety.To Learn more about Religious Discrimination in Organisation, Click the links.
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Correct Question - organizations should scrutinize their appearance requirements to determine if they may result in religious discrimination.
True or False?
serial activities are those that: flow from one to the next in sequence. should be performed simultaneously. have sequential numbers. have the same
The correct option is (a). Serial activities are those that flow from one to the next in sequence.
Tasks that must be finished in a particular order are referred to as Serial activities. In other words, the first task must be finished before starting the second. Serial activities take a lot of time to complete.
Simple effective integration of all processes and functions required during the execution of a project plan is concurrent project management. It frequently focuses on the goal of more quickly and predictably getting technology to market.
The usual stage of a project management plan is an activity. Each activity comprises of one or more steps that, when taken, advance the project stage to the next. The final deliverable will be produced by the actions when they are done in succession.
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any time patients state that they receive medicaid, they must present a valid medicaid identification card because eligibility, in many cases, will depend on the patient’s income.
Any time patients state that they receive Medicaid, they must present a valid Medicaid identification card because eligibility, in many cases, will rely upon the patient’s Monthly income.
What is Medicaid?Medicaid provides health coverage to many Americans, including eligible low-income adults, children, pregnant women, elderly adults, and people with disabilities. Medicaid is an assistance program. It provides helps to low-income people of every age. Patients generally pay no part of costs for covered medical expenditures . A small co-payment sometimes required. Medicaid is said to be federal-state program.
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according to the theory of money neutrality, money supply growth does not affect variables such as real output and employment in: a. the long run.
Although many modern economists continue to hold the view that neutrality is assumed in the long run once money has circulated throughout the economy, modern versions of the theory acknowledge that changes in the money supply might have an impact on output or unemployment levels in the short term.
What causes the money supply to increase?
People like to hold more money while interest rates are falling than when they are rising, and vice versa. Another method for bringing the money supply and demand into balance is through price changes. When people have more nominal money than they need, they spend it more quickly, driving up prices.
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identify specific asset, liability, revenue, and expense accounts that cookie creations will likely use to record its business transactions.
Asset: unique properties that Cookie Creations will use are debts receivables and current assets. money owed receivable will get up whilst human beings have not but paid for the organization sessions and man or woman training. Cookie Creations may even have a few fixed properties within the form of equipment like mixers, ovens, and so on. with a view to being used to make cookies.
Liability: The enterprise could have to shop for substances like cream, dough, chocolate, etc. suppliers usually increase credit and so the enterprise may have modern liabilities in the shape of bills payable. The commercial enterprise may take financial institution loans for financing the commercial enterprise and this can be lengthy-term debt.
Revenue: Revenue can be generated through fees and charges charged for institution periods and man or woman lesions.
Expences: There might be the value of maintaining the periods, trendy and administrative expenses, and interest expenses on a financial institution loan if any. Depreciation might be charged on constant properties like ovens, mixers, and many others.
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all of the following are forces in the marketing environment except and . (select two)
Political, Legal, Company Policy, and Employee are forces in the marketing environment, except history and genes.
The marketing environment of a company refers to the internal and external factors that affect an organization’s marketing activities. Knowledge of structural aspects and trends in the marketing environment is the key to devising and executing successful marketing strategies.
There are two broad types of marketing environments, namely internal and external marketing environments. The former includes factors within the control of a firm, such as employees, quality of product, and company policy. The latter are beyond its control, such as technological developments and regulatory shifts.
The external marketing environment further comprises a micromarketing and a macromarketing environment. Microenvironment are direct factors such as business partners and customers, while macroenvironment refers to political, social and other larger influences.
The question is incomplete. The complete question is:
All of the following are forces in the marketing environment except ___ and _____.
a) Political
b) Legal
c) History
d) Employee
e) Genes.
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heliot company operates its business in state h, which levies a 6 percent sales and use tax. this year, heliot purchased a $600,000 item of tangible property in state k and paid $18,000 sales tax to the state. it also purchased a $750,000 item of tangible property in state l and paid $48,750 sales tax to the state. firm h transported both items of property into state h for use in its business.
The total Use tax Heliot Owes State H for Property in K is $18,000
What is a business?A business can be defined as the part where the buying and the selling of the product is done in the organization.
Use of Tax Heliot owes to State H for Property Purchased
The value of the property in State H that Heliot Purchased = $600,000
Tax rate applicable in State H = 6%
Tax for Pre-credit use (0.06 x 600,000) = $36,000
Subtract The sales tax paid by Heliot to State K = loss $18,000
The total Use tax Heliot Owes State H is $18,000
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The question is incomplete, the complete question is:
Compute the use tax that Heliot owes to State H for the property purchased in State K.
a realistic and cost-effective starting point for emergency services in low-income countries could be: a. major expansion of emergency rooms in hospitals b. emergency transport c. training more trauma surgeons d. creating more level i hospitals
A realistic and cost-effective starting point for emergency services in low-income countries could be emergency transport.
Emergency transport is used to get a patient to a hospital quickly. Medical transport involves moving someone who needs or wants medical care during the journey. "Emergency care can make an important contribution to reducing avoidable death and disability in low- and middle-income countries."
The misconception that emergency transport cannot be cost effective in low-income settings is demonstrably inaccurate. "With better planning, the ongoing costs of emergency care can result in better outcomes and better cost-effectiveness. "
Hence the correct option is b) emergency transport.
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the nintendo wii console's focus on fun, simplicity, and interactivity exemplifies this type of value innovation:
The popular computer game Nintendo, which evolved into the Nintendo Wii thanks to the Blue Ocean method, serves as the best illustration of a value innovation strategy. Launched in 2006, the Nintendo Wii is a redesigned Nintendo console that is regarded as the pinnacle of the Value Innovation idea.
This is seen as a standout in the Blue Ocean strategy, which promotes combining low cost and customer value. Nintendo got rid of extraneous features seen in gaming consoles, like the hard drive, DVD functionality concerns, and other things. Lower costs were intended as a result of doing so.
Because of this, the business was able to include numerous novel features in the new Nintendo Wii that the gaming industry had never seen before.
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preparing tywin company's statement of cash flows for the most recent year, the following information is available: purchase of equipment $ 260,000 proceeds from the sale of equipment 87,000 purchase of land 91,000
-$264,000
Explanation:
Below is a summary of the net cash flows from investing operations for the year.
flow of money from investments
Equipment purchase: $260,000
$87,000 was earned from the sale of equipment.
Land purchase: $91,000
-$264,000 in net cash flow was utilised for investing activities.
Sales are a cash inflow, so they would be added, whereas the purchase is a cash outflow, so it would be reflected as a minus sign.
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Savings: $2,500 discretionary spending: $450 per month option a to buy has a total cost of 22,780 dollars, up-front cost of 2,500 dollars, monthly payment of 338 dollars for 60 months, and no mileage restriction. option b to lease has a total cost of 12,169 dollars, up-front cost of 3,925 dollars, monthly payment of 229 dollars for 36 months, and mileage restriction of 10,000 per year. compare the costs of buying and leasing a new vehicle. what are the advantages of buying the car? check all that apply. i have enough saved for the down payment. there are no mileage restrictions. the price of the car is less. the monthly payment is less. i will own the car in five years.
Answer: A,B,E
Explanation: EDGE
Answer: a,b,e
Explanation: edu
oct 8, 2022
what positions are now more likely to be in the role of project manager as the result of increased focus on customer service? multiple select question. administrative assistants account executives c-level managers sales representatives
The positions that are more likely to be project managers thanks to increased focus on customer service are:
Account executive sales representativesWhich roles focus on customer service?An account executive is in charge of managing the account of a certain customer while sales representatives work to persuade customers to buy goods and services.
Both these roles therefore have increased focus on customer service which is why they can be in the role of project manager.
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A company wishes to determine the eoq for an item that has an annual demand of 2,000 units, a cost per order of $75, and annual carrying cost of 7. 50 per unit. What is the eoq?.
The economic order quantity (EOQ) is found to be 200units.
Given here the Annual demand(D) = 2,000 Units, Cost per order(O) = $75 and Carrying cost(C) = $7.50.
Now, we calculate, Economic order quantity (EOC) by the formula,
EOC= [tex]\sqrt{}2DO/C[/tex]
= [tex]\sqrt{2 × 2000 Units × $75 / $7.50}[/tex]
= [tex]\sqrt{40000units\\}[/tex]
EOQ= 200 Units.
Thus, the economic order quantity (EOQ) is found to be 200units.
Companies determine their ideal order size by performing a calculation known as the economic order quantity (EOQ), which enables them to meet demand without going overboard. For the purpose of reducing holding costs and surplus inventory, inventory managers calculate EOQ.
EOQ can assist you in determining where to draw the line in situations when your vendors provide volume discounts and other inducements to make larger purchases.
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the ordinary business of life: a history of economics from the ancient world to the twenty-first century
Marshall established the basic economic activities taken out by a person to exist. Thus, by 'ordinary business of Life', he directed to the analysis of economic activities of man.
What does economics is an analysis of mankind in the ordinary business of life means?Political Economy or Economics is a breakdown of mankind in the ordinary business of life; it studies that part of individual and social action which is most near connected with the achievement and with the use of the material requisites of wellbeing. Economics impacts our daily lives in both prominent and subtle ways.
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dane, inc. purchased 10 shares of its own $5 par value common stock for $20 per share. the journal entry to record this transaction would include a (debit/credit)
dane, inc. purchased 10 shares of its own $5 par value common stock for $20 per share. the journal entry to record this transaction would include a (debit/credit) must be Cash $800
What is journal entry?
In order to document a business transaction in the accounting records of the company, a journal entry is employed. A journal entry is often made in the general ledger, but it can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. After then, the general ledger is utilized to produce the company's financial statements.
Every business transaction should be recorded in at least two places, according to the reasoning behind a journal entry (known as double entry accounting). For instance, when you make a cash sale, the revenue account and the cash account are both increased. Alternatively, if you purchase items on credit, this raises both the accounts payable and inventory accounts.
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growth of international business this activity examines the growth of international firms and international business, and addresses the key drivers that are leading firms to internationalize their operations. the size and number of international businesses have been increasing rapidly in recent years. it is useful to appreciate the extent to which businesses and markets have internationalized, as well as understand the driving forces underlying this internationalization.
The growth of international business table match up are:
Internet - TechnologyPolitical - PreferentialMarket - SaturatedCompetitiveness- privatizationCost - economy of scale What is International business?International business is known to be a term that connote the trade of goods, as well as services, technology, and others across a given national borders and this is said to be done on a global level.
Note that It involves cross-border transactions and as such, The growth of international business table match up are:
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