Yes, it is true that when account balances have been updated to reflect adjusting entries, the adjusted trial balance is utilised to confirm that total debits and total credits balance each other out.
To ensure that total debits and total credits balance out, utilise a trial balance. After account balances are modified to reflect adjusting entries, the adjusted trial balance is created.
What is adjusting trial balance ?Any modifications are reflected in an amended trial balance, which displays the general ledger account balances. Depreciation, prepaid expenses, accruing charges, and other non-cash costs are frequently covered by these adjustments. It is that simple.
The adjusted trial balance is not a financial statement, even though the modified account balances will be included in the financial statements. In both the adjusted trial balance and the unadjusted trial balance, the total amount of the debit balances must match the total amount of the credit balances.Learn more about Adjusting trial balance here:
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Suppose that the board of directors pays the ceo a bonus in any year that the share price goes up compared to the previous year, but no bonus if the share price either falls or stays the same. What would this particular type of compensation scheme be designed to control?.
Agency Cost is type of compensation scheme be designed to control
The programming language family of Lisp includes the dialect Scheme. Guy L. Steele and Gerald Jay Sussman, the program's creators, published Scheme in the 1970s at the MIT AI Lab through a collection of documents that have come to be referred to as the Lambda Papers. Stronger support for functional programming and related methods like recursive algorithms was provided by this dialect of Lisp since it was the first to pick lexical scope and to force implementations to do tail-call optimization.An advertising agency, sometimes known as a creative agency or just a "agency," is a company that specializes in developing, organizing, and managing advertising campaigns for its clients as well as occasionally other types of promotion and marketing. In general, an advertising agency is independent of the customer; it could be an internal division or agency that offers a fresh perspective on the client's efforts to market their goods or services, or it could be a third-party company. For its customers, an agency can also handle sales as well as overall marketing and branding strategy.
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Crops produced entirely for the market are known as:_____.
a. basic crops.
b. mixed crops.
c. hybrid crops.
d. cash crops.
Answer:
Cash Crops
Explanation:
Cash ---> economic stuf ----> l o g i k
At the end of march, paul’s painting hired five temporary employees to work on a project that began on april 5 and ended on april 28. Paul’s received 100% of the total payment for the project on may 3. In this situation, both ________ accounting and gaap require that paul’s recognize the employees’ total salary expense in ________.
Paul’s received 100% of the total payment for the project on May 3. then in the given situation, both accrual basis accounting and GAAP require that paul’s recognize total salary expense in April.
Recognizing revenue as it is received and expenditure, as it is incurred, is the idea behind accrual basis accounting. The application of this strategy also has an influence on the balance sheet, as receivables or payables may be reported even in the absence of an accompanying cash receipt or cash payment, respectively. Using estimations is necessary in several situations when using the accrual basis. For instance, a business has to account for expected bad debt costs that haven't yet materialized. This leads to an income statement that completely represents the outcomes of operations as all costs associated with a revenue transaction and payment are recorded at the same time as the revenue.
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If the financial statements cannot be relied upon because they contain one or more material departures from gaap, which type of audit opinion will be issued by the auditor?.
The type of audit opinion that will be issued by the auditor is an adverse opinion.
A company or a business will usually issue financial statements in a certain period. This financial report is useful for knowing the transactions carried out within the company.
Of course, financial statements do not only dwell on financial records. There are many things you should know about financial statements. Such as understanding, benefits, examples, functions, to the income statement. Moreover, if you have a business, having financial statements is mandatory. Broadly speaking, financial statements are records of a company's transactions, both in-business transactions such as sales, or outside business transactions such as stock purchases, investments, and taxes.
This financial report is also very important to be arranged neatly so that investors or stakeholders can see that the business finances you are living are stable, well planned, and growing. Not only does it have an important role to get investors, but financial reports can also have other benefits in the business you are in.
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manufacturing overhead applied to production is always recorded on the side of the manufacturing overhead account and the side is always used to record the actual manufacturing costs incurred.
The manufacturing overhead account's credit side represents manufacturing overhead applied to production, and the debit side represents manufacturing expenses paid.
The overall cost associated with running all production facilities for a manufacturing enterprise that cannot be linked directly to a product is known as factory overhead, also known as manufacturing overhead, work overhead, or factory burden in American English. Typically, indirect costs and indirect labor are impacted.
What exactly does manufacturing overhead include?You must total up all indirect costs associated with the manufacturing of a product to determine manufacturing overhead. Depreciation costs, manufacturing supplies, electricity, insurance, machine maintenance, indirect materials and labor, and other costs are included in this.
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Luce is single and making $763 biweekly. she claims no federal withholding allowances. if the state tax is 19% of the federal tax, how much in state tax does luce contribute? a. $12.92 b. $15.13 c. $15.77 d. $16.34 please select the best answer from the choices provided a b c d
Luce is single and making $763 biweekly. She claims no federal withholding allowances. If the state tax is 19% of the federal tax, state tax Luce contributes $16.34
What is federal withholding allowances?
A withholding allowance is an exemption that reduces the amount of income tax you have to withhold from an employee's paycheck. A larger number of withholding allowances means smaller income tax deductions and a smaller number of allowances means larger income tax deductions. Some employees, such as those whose tax return status is single, may claim zero rebates.
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When demonstrating 2023 maxima’s parking assistance, which available feature should you point out helps you see how well you are centered in a parking space?.
When demonstrating the 2022 Maxima's parking assistance, the available feature that you must point out to helps you see how well you are centered in a parking space is the Intelligent Around View® Monitor (I-AVM).
What is a parking assistance?This refers to the automated parking aid that helps the drivers park with greater precision, using guidance system technology that rivals ultrasonic, camera-based solutions with superior and advanced technology. The system is a customer-centric in many ways. Besides for getting the parkers to open spaces, it also elevates every phase of the parking experience with automated features that guide drivers with confidence.
The drivers that use the Park Assist systems discover greater performance, better efficiency, increased security and safety, and return on investment. The system reduces the frustration that comes with parallel parking and other instances that present tight spaces.
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A company uses accrual-basis accounting. On december 20, the company received $1,000 from a customer for services expected to be completed within 30 days. On december 20, the company recorded $1,000 of cash and unearned service revenue. The company does provide the services before the end of the current year, but it omits the year-end adjusting entry. This omission would cause the company’s current year.
The fact that the company omits the year-end adjusting entry of received amount from the customer for services to be completed in 30 days, means the omission would cause the current year c) liabilities to be overstated.
What will happen to the liabilities?When a service cannot be provided by a company in a period, the company is to record any cash received as unearned revenue which is a liability to the company.
If the company is able to provide the service after recording the cash as unearned revenue like the company above did, they are to move the cash from the unearned revenue to the revenue.
If the company omits this adjusting entry, then it would mean that liabilities are overstated because the unearned revenue of $1,000 should have been treated as revenue and not a liability.
Options for this question include:
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Suppose that the board of directors pays the ceo a bonus in any year that the share price goes up compared to the previous year, but no bonus if the share price either falls or stays the same. What would this particular type of compensation scheme be designed to control?.
The CEO receives a bonus from the board of directors whenever the share price increases over the prior year, but not when it remains constant. This style of compensation plan is intended to control Agency Costs.
A bonus could be given to a worker in addition to their regular pay. It is often used by corporations to express gratitude or acknowledgement to employees or a team that has successfully completed significant tasks. Bonus compensation is additionally offered to increase employee motivation, drive, and performance.
A form of internal business expense known as an agency cost results from an agent acting on behalf of a principal. Typical causes of agency costs include fundamental inefficiencies, complaints, and disruptions, such as conflicts of interest between shareholders and management. The acting agent is the recipient of the agency fee payment.
Shareholders suffer charges known as agency costs as a result of disputes between an organization's owners and management. One type of agency cost is incurred when managers put money into endeavors that are only for their own advantage and not the shareholders.
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Suppose oranges and clementines are considered to be substitutes. holding everything else constant, if the price of oranges increases, then the:__________
Suppose oranges and clementines are considered to be substitutes. holding everything else constant, if the price of oranges increases, then the demand for clementines would increase.
What are substitute goods?
Substitute goods are goods that can be used in place of another good due to their similar features or taste. Substitute goods are goods that can be used to serve the same purpose for consumers. An example of substitute goods is blue pen and black pen.
If the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.
When the price of oranges increases, the quantity demanded of oranges decreases. This is due to the negative relationship between the price of a good and the quantity demanded.
When the price of oranges increases, clementine become cheaper when compared to oranges. Thus, the demand for clementine would increase. This would lead to a shift to the right of the demand curve for clementine to the right.
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Marcia has always loved nike apparel for its style and comfort. She needs new workout pants, so she purchases a pair at the nike store. This is an example of which type of purchase decision?.
I think the answer may be: Limited Problem Solving
currency trading lacks profitability for large commercial and investment banks but is maintained as a service for corporate and institutional customers.
It is False currency trading lacks profitability for large commercial and investment banks but is maintained as a service for corporate and institutional customers.
What is Currency trading ?A global decentralised or over-the-counter market for trading currencies is known as the foreign exchange market. For every currency, exchange rates are set by this market. It covers all facets of acquiring, disposing of, and exchanging currencies at determined or actual prices.
The buying and selling of currencies on the foreign exchange market with the aim of making profits is known as currency trading, often known as foreign exchange or Forex. Trading in forex on a speculative basis is the term used.Learn more about Currency trading here:
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In the crowdsourcing and crowdfunding video case, what term related to crowdsourcing is used to describe connecting with an on-demand, scaleable workforce that can perform a broad range of tasks by companies such as the amazon mechanical turk marketplace?.
Amazon Mechanical Turk (MTurk) is a crowdsourcing is used to describe connecting with an on-demand, saleable workforce that can perform a broad range of tasks by companies such as the amazon mechanical turk marketplace.
People and businesses may more easily outsource their processes and occupations utilizing Amazon Mechanical Turk (MTurk), a crowdsourcing marketplace, with the aid of a distributed workforce that can do these tasks digitally. This might include anything from straightforward data verification and investigation to more sympathetic tasks like conducting surveys and content control, among others. Businesses may enhance operational processes, increase data collection and analysis, and accelerate the development of machine learning by utilizing the pooled brains, experience, and insights of a global workforce through MTurk.
Even though technology is always developing, there are still many activities that people can complete far more quickly and effectively than computers, like content moderation, data deduplication, and research.
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What business practice is most helped by free trade practices?
A. Increasing import revenues
B. Standardization
C. Competition
D. Preserving economic resources
SUB
Free trade practices and competition are most beneficial to company practices.
An illustration of free commerce?In a free trade area (FTA), goods from one country can enter another without being subject to import duties or quotas. Free trade areas include, for instance: Norway, Iceland, Switzerland, and Liechtenstein make up the EFTA (European Free Trade Association). NAFTA: North American Free Trade Agreement (being renegotiated).
What does free trade mean?A government policy known as free trade, often known as laissez-faire, forbids discrimination against imports and interferes with exporters by imposing duties on imports and providing exports with subsidies.
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Interest on a savings account is considered income. False False
Manufacturing overhead applied to production is always recorded on the side of the manufacturing overhead account and the side is always used to record the actual manufacturing costs incurred. True or false?.
True, Manufacturing overhead applied to production is always recorded on the side of the manufacturing overhead account and the side is always used to record the actual manufacturing costs incurred.
The actual manufacturing overhead costs incurred during a period are recorded as debits within the manufacturing overhead account. For instance, assume Custom company places $4,200 in indirect materials into production on May 10. The overhead account is debited for the particular overhead costs as incurred.
The overhead account is credited for the overhead costs applied to production within the work-in-process account. The Manufacturing Overhead account is credited when overhead cost is applied to figure in Process. Generally, the number of overhead applied won't be the same because the amount of actual cost incurred, since the predetermined overhead rate, which is employed in applying overhead, relies on estimates.
(However, the corporate may opt to allocate the manufacturing overhead for internal pricing decisions or to accommodate a government contract.) Manufacturing overhead is an element of a company's manufacturing operations, specifically, the prices incurred outside of these associated with the price of direct materials and labor. This can be why manufacturing overhead is additionally called an indirect cost.
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Linda bought a new computer online, but she soon realized that it didn’t have enough memory to run her programs. Which risk associated with purchase decisions occurred?.
Actual or perceived risk associated with purchase decisions occurred. The quantitative components of risk are referred to as actual risk.
What is the difference between perceived and actual?The actual value of a product is very different from its perceived value. The product's perceived value is how much a customer thinks it is worth. The benefits that the customer anticipates obtaining from his purchase and the opinions of the market both contribute to this perception.
It includes elements like the risk's impact, likelihood, and severity. Risk perception is a personal assessment of a person. It combines elements like sentiment, background information, and individual experiences.
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over the next several years the number of corn producers is expected to increase. as a result, the supply of corn will and the supply curve of corn will .
Over the next several years the number of corn producers is expected to increase. as a result, the supply of corn will increase
What is demand and supply ?Supply is the quantity of items producers are willing to offer, and demand is the number of goods and services consumers are willing to purchase at a given price. The price of products and services is determined by supply and demand. If there is a shortage and a great demand, the price will increase.
The amount of a commodity that the producers make accessible to the purchasers or consumers at a given price is known as the supply. Demand is the consumer's desire, willingness, and financial capacity to purchase the good or service.Learn more about Demand and supply here:
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Of the over $550 million dollars lent to low-income individuals or to those who do not have access to typical banking services, what was the approximate average size of a loan made by the kiva microfinance services organization?.
The approximate average size of a loan made by the kiva microfinance services company was $416.62 out of the more than $550 million dollars provided to low-income people or to those who lack access to conventional banking services.
The term "microfinance" refers to the variety of financial products that microfinance institutions (MFIs) provide to their customers, including microloans, microfinance, and microinsurance products. When social entrepreneurs started making large-scale loans of money to the working poor in the 1970s, microfinance was born.
Professor Muhammad Yunus, who shared the 2006 Nobel Peace Prize with Grameen Bank, is one person whose work in microfinance has garnered him prominence on a global scale. The ability of the impoverished to escape poverty has been proved by Yunas and Grameen Bank. Yunus also showed that, with the right structuring, loans offered to the working poor had very high repayment rates. Both social engineers and investors looking to make a profit were drawn to his work.
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In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.
Businesses are likely to reduce their choices of suppliers during the proposal analysis, vendor negotiation, and selection stages of the business-to-business purchasing process.
More about proposal analysis, vendor negotiation:
The proposal results are compared to what was anticipated in the proposal analysis report. The period of time a proposal has so far been open is also shown in this report.
The strategic process of coming to a deal that is advantageous to both the firm and its third parties is known as vendor negotiation. It might entail numerous dialogues, mutual concessions, and the application of soft skills.
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The stockholders of a business received a $1000 dividend. How would this affect the total equity of the business?.
The stockholders of a business received a $1000 dividend. This affects the total equity of the business as the Assets would be decreased and total equity would decrease as well.
When a stockholder pays cash dividends to shareholders, its capital is reduced by the sum of all dividends paid. However, the impact of dividends depends on the type of dividend paid by the company.
When a company generates income, working capital cash or accounts receivable increases, and the retained earnings portion of capital increases. Stock dividends have no impact on total capital or net worth. They only reduce retained earnings and increase paid-in capital by the same amount.
When a company's profit or capital increases, the overall result is an increase in the company's capital. Shareholders' equity can be increased through the sale of shares, increasing company earnings, and reducing operating costs.
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Members of which generational group are referred to as echo boomers?
Members of the Millennial group are referred to as echo boomers.
Who are Millennials?People who were born between the 1980s and the early 2000s are referred to as "millennials," also known as Gen Y or Generation Y. Millennials are also known as echo boomers since they are Generation Xers who were mostly raised by members of the baby boomer generation.
The generation known as millennials is thought to be the most wired. They were raised in an era where communication took place primarily online through email and social media. With just a few clicks on their laptops or smartphones, they are accustomed to performing many daily tasks. They are computer literate and stay current on new devices and technologies.
About 40% of the workforce in the US is made up of professionals who are baby boomers. Baby boomers are well-versed in the majority of businesses, but today's recruiters aggressively seek out millennials, if not all of them. They already possess the tools younger competitors would require to succeed in their chosen fields.
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When fire alarm sounds. Why should you evacuate children immediately even if you do not see flames?
Answer: because even if there is no fire there could be an explosion, fire and gasoline WILL make an explosion. So Basically it can start with fire but soon turn into an explosion. If it's a fire DRILL then it's for practice if that actually does happen.
When a policy is mailed to an agent by an insurer after being accepted as applied for and the initial premium paid, it is considered to be? a rated b issued c legally delivered d purchased
Knowing the terms of your insurance agreements might help to ensure this. Acceptance occurs when the insurance provider decides to cover you.
Insurance companies use the premiums that customers and policyholders pay to them to pay for obligations related to the policies that they insure.
the monthly premium you pay for health insurance. You typically have to pay a deductible, copayments, and coinsurance in addition to your premium for your health care.
Your insurer will pay for the coverages specified in the insurance policy, like as liability and collision coverage, once your premium has been paid. Although each insurance provider sets its prices in a unique way, your premium is often determined by information about you, such as the kind of automobile you drive.
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Blissful breeze manufactures and sells ceiling fans. Each fan has a unit product cost of $112 and a unit selling price of $190. If blissful breeze produces 900 fans and sells 842 fans this month, the total cost of goods sold will be $.
Ceiling fans are manufactured and sold by Blissful Breeze. Each fan costs $112 to produce every unit and sells for $190 per unit. If BB makes 900 fans this month and sells 842 of them, the cost of goods sold COGS will be product cost X quantity sold. $112 X 842 = $94,304
More about cost of goods sold COGS:
The only costs included in the metric are those that are directly related to the production of the goods, such as the cost of labour, materials, and manufacturing overhead. Cost of goods sold (COGS) is the cost of purchasing or making the things that a company sells during a period.
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Part of the economic problem is that resources are limited. that is, we have a(n) _________ amount of these available at any one time.
Part of the economic problem is that resources are limited. that is, we have a fixed amount of these available at any one time. The monthly amount will also remain constant, albeit the proportions of the payment going toward paying off the interest and the principle will change.
A fixed-rate payment is frequently referred to as a "vanilla wafer" payment, owing to its predictability and lack of surprises. The overall amount owed in a fixed-rate payment remains constant over the life of the loan, however the percentage that goes to interest and principle varies. Mortgage loans are the most common example of fixed-rate payments.
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Which item in a bring your own device (byod) policy helps resolve intellectual property issues that may arise as the result of business use of personal devices?
Onboarding/offboarding XXXX item in a bring your own device (BYOD) policy helps resolve intellectual property issues that may arise as the result of business use of personal devices
This is further explained below.
What is Onboarding/offboarding XXXX?Generally, Any computer equipment not owned by the District that can connect to the Internet, often wirelessly, and is carried to or used off-site to access District technology services is referred to as a "personal device." Examples include laptops, tablets, and smartphones.
In conclusion, Bring your own device (BYOD) policies include an onboarding/offboarding XXXX item that helps handle intellectual property concerns that may occur as a consequence of employees using their own devices for corporate purposes.
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The MIQ inventory measures how much you value status. Which two measures are measure of status?
-your social standing in the community
-how much money you have in your wallet
-the type of car that you drive
-how intelligent you have to be to perform your job
You can gauge your value status using the MIQ inventory.
These two indicators or measurements of status include:
1. Social standing in the neighbour-hood.
2. The amount of cash in your wallet.
Measurement is the quantifying of characteristics of an event or thing so that they can be compared to those of other events or objects. Or, to put it another way, measurement is the act of figuring out how big or little a physical quantity is in relation to a fundamental reference quantity of the same kind. The context and discipline have an impact on the range and use of measurement.
Measurements do not apply to nominal properties of things or events in the natural sciences and engineering, which is consistent with the rules of the International lexicon of metrology established by the International Bureau of Weights and Measurements.
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A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,000 per month for the next three years and then $2,000 per month for two years after that. If the bank is charging customers 7. 5 percent apr, how much would it be willing to lend the business owner?.
The answer is $72,800
Strategic ______ is a process that involves managers from all levels of the organization in the formulation and the implementation of strategies and strategic goals.
Strategic management is a process that engages managers at all organizational levels in the creation and execution of strategies and strategic objectives.
What Exactly Is an Investment Strategy?A set of guidelines created to aid an individual investor in achieving their financial and investing objectives is referred to as an investment strategy.This strategy directs an investor's choices in accordance with goals, risk tolerance, and anticipated capital requirements.They can range from cautious (following a low-risk approach with the goal of protecting money) to extremely aggressive (seeking rapid growth by focusing on capital appreciation).Investors can create their own portfolios using their techniques or work with a financial advisor to do so.Strategies must be frequently reassessed as conditions change since they are not static.To know more about Strategy, refer to the following link:
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