Answer:
The statement is TRUE
IE 4-3....Suppose that a Demand shift (an increase in optimism) moves this economy to Point E with an Employment of 122 million people. Households in the Circular Flow will be earning a Nominal Income of _________ billion and there will be an equilibrium at Point S in the PPF. This is a(n) _____________ situation..
Answer:
$6240
Demand Inflation
Explanation:
Demand inflation also known as Demand-pull Inflation is an economic condition whereby there is an increase in price due to aggregate demand exceeding the aggregate supply of goods and services. This is when there is excess amount of money in the system and there are fewer goods and services. This leads to inflation.
Lupe, a cash basis taxpayer, owns 55% of the stock of Jasper Corporation, a calendar year accrual basis C corporation. On December 31, 2019, Jasper accrues a performance bonus of $100,000 to Lupe that it pays to him on January 15, 2020.In which year can Jasper deduct the bonus? In which year must Lupe include the bonus in gross income?
Answer:
Explained below.
Explanation:
An organization that utilizes an accrual system can't challenge a reduction in the investment of a relevant group. For example, a more than 50% shareholder, continuously the recipient notifies that value as profit. Lupe a cash base taxpayer that needs to report the $100,000 reward in the year 2016 that year in which he accepts the payment. The Jasper Corporation may subtract the $100,000 bonus in the year 2016 the concerned year Lupe is needed to report it as similar to income.
On January 1, 2013, Deuce Inc. acquired 15% of Wiz Co.'s outstanding common stock for $62,400 and categorized the investment as an available-for-sale security. Wiz earned net income of $96,000 in 2011 and paid dividends of $36,000. On January 1, 2014, Deuce bought an additional 10% of Wiz for $54,000. This second purchase gave Deuce the ability to significantly influence the decision making of Wiz. During 2014, Wiz earned $120,000 and paid $48,000 in dividends. As of December 31, 2014, Wiz reported a net book value of $468,000. For both purchases, Deuce concluded that Wiz Co.'s book values approximated fair values and attributed any excess cost to goodwill.
on deuce's december 31,2014 balance sheet, what balances was reported for the investment in Wiz coporation account?
Answer:
Investment Cost
January 1, 2013 = $62,400
January 1, 2014 = $54,000
$116,400
Fair Values
25% of $468,000 $117,000
On Deuce's December 31,2014 balance sheet, $116,400.00 will be reported for the investment in Wiz corporation account. This is because the investment cost of $116,400 is lower when compare with fair value of $117,000.
Explanation:
The carrying amount for investments is the lower of cost and fair value.
On the December 31, 2014 balance sheet, Deuce would report a balance of $123,600 for the investment in Wiz Corporation account. The computation incorporates both cost and equity method, considering different levels of influence over the investments.
Explanation:The balance reported for Deuce's investment in Wiz Corporation on Deuce's December 31, 2014 balance sheet would be calculated differently for the two separate purchases due to their different levels of influence on Wiz's decision making.
For the initial 15% purchase, Deuce would simply record the investment at cost because they didn't have significant influence over Wiz at this time. So, the investment account for this transaction would be $62,400.
The second purchase, however, gave Deuce the ability to significantly influence Wiz's decision making, and therefore it should apply the equity method for this investment. Initially, it would record the 10% purchase at cost, which is $54,000.
Further, under the equity method, Deuce adjusts this balance by its proportionate share of Wiz's earnings and subtracts any dividends received. Wiz earned $120,000 in 2014 and paid dividends of $48,000. So, Deuce would add to the investment account (10% of $120,000 = $12,000) and subtract the dividends received (10% of $48,000 = $4,800), so the increase due to the equity method would be $7,200.
By adding the two balances together we have $62,400 (initial investment) + $54,000 (second purchase) + $7,200 (equity method adjustment) = $123,600. So, Deuce would report a balance of $123,600 for the investment in Wiz Corporation account on its December 31, 2014 balance sheet.
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Luke is shocked by the price that Obi-Wan agrees on for passage to Alderon. The transaction between Obi-Wan and Hans Solo is an example of:
Answer:
A Bad Deal
Explanation:
Luke is shocked as he believe the price paid by Obi-Wan to Hans Solo is very high or overpriced. That is why the transaction between Obi-Wan and Hans Solo is an example of a bad deal.
Answer:
Luke is shocked by the price that Obi-Wan agrees on for passage to Alderon. The transaction between Obi-Wan and Hans Solo is an example of Mutually Beneficial Exchange.
The opportunity cost of being a full-time student at a university instead of working full-time at a job includes all of the following EXCEPT:
a. Payment for meals
b. Payment for tuition
c. Payments for books
d. Income from the full-time job
Answer:
a.Payment for meals
Explanation:
Opportunity cost is referred to as the next best alternative.
Opportunity cost means the benefits foregone of the non chosen alternative when an alternative is chosen from the available set of options which includes the non chosen option.
For e.g storage of money at home has an opportunity cost in the form of loss of interest had the same money been invested elsewhere apart from assuming the risk of loss of theft.
In the given case, the opportunity cost of being a full time student at a university instead of working full time at a job includes the opportunity cost in the form of income from that full time job in addition to specific expenses incurred for being a full time student such as Payment for tuition, Payment for books.
Thus, payment for meals represents a common cost which would've been incurred anyway irrespective of whether one attends full time college or does a full time job.
The opportunity cost of being a full-time student includes tuition, books, and meal payments, but not the income from the foregone job, which is the essence of what opportunity cost represents.
Explanation:The question asks about the opportunity cost of being a full-time student at a university instead of working full-time at a job, which includes all but one of the listed options. The correct answer to this is d. Income from the full-time job. This is because opportunity cost refers to the benefits or income one gives up by choosing one option over another. In this context, the opportunity costs of attending college as a full-time student include the tuition fees, payments for books, and even the cost for meals related to being in college, but not directly the income from a job you didn't take. That income represents the actual foregone benefit, making it the essence of the opportunity cost calculation in this scenario.
Opportunity cost is a fundamental concept in economics that encompasses the value of the best alternative you give up when you make a decision. For a college student, while the out-of-pocket expenses like tuition fees, book payments, and even meal payments are direct costs, the true opportunity cost also includes the income they could have earned if they were not in school. This is because, by choosing to study, they are sacrificing the chance to earn an income during this period, hopeful in gaining greater earnings in the future due to higher education.
Indicate whether each of the following changes will increase or decrease the equilibrium price and quantity, or whether the effect cannot be predicted.
(a) Demand increases; supply remains constant
(b) Supply increases; demand remains constant
(c) Demand decreases; supply remains constant
(d) Supply decreases; demand remains constant
(e) Demand increases; supply increases
(f) Demand decreases; supply decreases
(g) Demand increases; supply decreases
(h) Demand decreases; supply increases
Answer:
(a) This will shift the demand curve rightwards and supply curve remains the same. Hence,
Equilibrium price: Increases
Equilibrium Quantity: Increases
(b) This will shift the supply curve rightwards and demand curve remains the same. Hence,
Equilibrium price: Decrease
Equilibrium Quantity: Increases
(c) This will shift the demand curve leftwards and supply curve remains the same. Hence,
Equilibrium price: Decrease
Equilibrium Quantity: Decrease
(d) This will shift the supply curve leftwards and demand curve remains the same. Hence,
Equilibrium price: Increase
Equilibrium Quantity: Decrease
(e) This will shift the supply curve and demand curve rightwards. Hence,
Equilibrium price: Indeterminate because of the magnitude of the shift in demand and supply curve.
Equilibrium Quantity: Increase
(f) This will shift the supply curve and demand curve leftwards. Hence,
Equilibrium price: Indeterminate because of the magnitude of the shift in demand and supply curve.
Equilibrium Quantity: Decrease
(g) This will shift the supply curve leftwards and demand curve rightwards. Hence,
Equilibrium price: Increase
Equilibrium Quantity: Indeterminate because of the magnitude of the shift in demand and supply curve.
(h) This will shift the supply curve rightwards and demand curve leftwards. Hence,
Equilibrium price: Decrease
Equilibrium Quantity: Indeterminate because of the magnitude of the shift in demand and supply curve.
The market is in equilibrium when at the market equilibrium price the quantity demanded is equal to the quantity supplied.
What is the equilibrium price?The equilibrium price is the only price at which consumers' plans and producers' plans agree — that is, when the price consumers want to buy the product, the desired price, is equal to the amount the producers want to sell, the price offered.
This common value is called equilibrium quantity.
(a) This will shift the demand curve to the right and the supply curve will remain the same. So,
Equilibrium price: IncreasesEquilibrium Quantity: Increases(b) This will shift the supply curve to the right and the quest curve remains the same. So,
Equilibrium price: ReduceEquilibrium Quantity: Increases(c) This will shift the search curve to the left and the supply curve will remain the same. So,
Equilibrium price: ReduceEquilibrium Amount: Reduce(d) This will shift the supply curve to the left and the quest curve remains the same. So,
Equilibrium price: IncreaseEquilibrium Quantity: Reduce(e) This will shift the supply curve and the demand curve to the right. So,
Equilibrium price: Can not be determined due to the magnitude of the change in seeking and providing the curve.Equilibrium quantity: Increase(f) This will shift the supply curve and the search curve to the left. So,
Equilibrium price: Can not be determined due to the magnitude of the change in seeking and providing the curve.Equilibrium Quantity: Reduce(g) This will shift the delivery curve to the left and then turn the curve to the right. So,
Equilibrium price: IncreaseEquilibrium Quantity: Not limited due to demand change size and supply curve.(h) This will shift the supply curve to the right and then turn the demand curve to the left. So,
Equilibrium price: ReduceEquilibrium Quantity: Not limited due to demand size change and supply curveHence, these are effects of the increase and decrease of the demand curve and supply curve on the equilibrium price and quantity.
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The purpose of this assignment is to provide the experience of obtaining a company's annual report.
Required:
Obtain the most recently issued annual report of a publicly owned manufacturing or merchandising corporation of your choice. Do not select a bank, insurance company, financial institution, or public utility. It would be appropriate to select a firm that you know something about or have an interest in. Type firm name or use a search engine to locate your chosen company's website and then scan your firm's home page for information about annual report ordering. If you don't see a direct link to Investor Relations or Investors on the home page, look for links such as Our Company, About Us, or Site Map that may lead you to SEC Filings, Financial Information, or Annual Reports. Most companies allow you to save or print an Adobe Acrobat version of their annual reports.
Answer:
Download Apple Inc's 2019 Annual Report
Explanation:
Follow the following steps to download and save the 2019 annual report of Apple Inc:
1. Type www.apple.com in the url address box on your web browser. This will take you to Apple Inc home page.
2. Scroll down to the bottom of the home page and look for "About People" which is at the bottom right of the page and then click on "Investors" under "About People". This will take to the Investor Relation page.
3. On the Investor Relation page, scroll down and look for "Annual Reports on Form 10-K".
4. Right under the "Annual Reports on Form 10-K", you will see "2019 10-K" which is the most recently issued annual report by Apple Inc. Just click on the "2019 10-K" to download and save a pdf format of the Apple Inc's 2019 Annual Report which is their most recent annual report.
Best of luck.
Which value gap refers to a company’s failure to accurately assess what customers really want?
Answer:
The correct answer is: Service Quality Gap.
Explanation:
The Service Quality Gap refers to the difference between what a company understands a customer's desires and what must be really done to satisfy that consumer. Firms should make all the efforts in their hands to close that breach and provide the customer with the good or service they need to keep their businesses going. When the gap is not closed, the customer's loyalty fails, pushing them to look for different options in other organizations.
Final answer:
A value gap related to misjudging customer preferences and market demand can lead to a loss of customer goodwill and misaligned company offerings.
Explanation:
The value gap that refers to a company's failure to accurately assess what customers really want is rooted in imperfect information, leading to misjudgment in areas like customer preferences, tastes, and the elasticity of demand.
Companies such as Netflix have suffered from these missteps by not fully understanding the market demand, lacking clarity on the impact of substitutes, and inadequately gauging customer expectations. The result can be a mismatch between the company's offerings and what the market actually desires, leading to loss of customer goodwill and potentially, market share.
Josh, Inc. is faced with the choice of either producing a newly designed product, XX-30, to stock in anticipation of demand or to customer order. The demand for the product is expected to be 5,000 units per week. Josh decided to produce XX-30 in lots of 500 units. The cost of holding the average unit in inventory per year is $50 times the average inventory level. If Josh, Inc. produces to order, it must discount its unit price on all sales $5 for each week that the first customer to order has to wait before the product is delivered. Should Josh, Inc. produce to stock or to order?
Answer:
Explanation:
1. Make to stock
Average inventory = Order quantity/2 = 500/2 = 250
Inventory holding cost = average inventory multiplied by unit holding rate = 250 *5 = 1250
2. Make to order
Discount = 5000*5 = 25000
It is better to stock and produce because costs are low
The measurement of how efficiently and effectively a manager uses resources to satisfy customers and achieve organizational goals is known as organizational ________. a. management b. efficiency c. performance d. effectiveness
Answer:
Effectiveness
Explanation:
Organizational effectiveness shows the extent to which resources have been efficiently managed to produce intended results.
Efficiency has to do with maximal uses of resources available (i.e input versus output) while effectiveness show whether desirable outcomes have been achieved i.e whether organizational objectives are being achieved.
The measurement of how efficiently and effectively a manager uses resources to satisfy customers and achieve organizational goals is known as organizational efficiency (option b).
Explanation:The measurement of how efficiently and effectively a manager uses resources to satisfy customers and achieve organizational goals is known as organizational efficiency.
Efficiency is a key concept in business management. It refers to the ability of a manager to optimize the use of resources, such as time, money, and manpower, to achieve desired outcomes.
For example, a manager who carefully plans and coordinates tasks, eliminates waste, and maximizes productivity is considered efficient. This can lead to cost savings, increased customer satisfaction, and overall success for the organization.
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As long as all sales requests are being met, a ______ inventory turnover ratio is better.
Answer:
Higher
Explanation:
The formula to compute the inventory turnover ratio is show below:
= Cost of goods sold ÷ average inventory
where,
Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2
It shows a relation between the cost of goods sold and the average inventory which is shown above.
The more long sales request will higher the inventory turnover ratio and therefore inventory turnover ratio is performing better
Sammy’s Pizza opened on January 1, 2018. Sammy’s reported the following for cash revenues and cash expenses for the years 2018 to 2020: 2018 2019 2020 Cash Revenues $19,000 $29,000 $39,000 Cash Expenses $10,500 $13,500 $21,500 What would Sammy's Pizza report for net income and retained earnings for the years 2018, 2019, and 2020?
Answer:
Net income for 2018 is $8,500
Net income for 2019 is $15,500
Net income for 2020 is $17,500
Retained earnings from 2018 to 2020 is $41,500
Explanation:
Net income = cash revenue - cash expense
Net income for 2018 = $19,000 - $10,500 = $8,500
Net income for 2019 = $29,000 - $13,500 = $15,500
Net income for 2020 = $39,000 - $21,500 = $17,500
Retained earnings from 2018 to 2020 = net income for 2018 + net income for 2019 + net income for 2020 = $8,500 + $15,500 + $17,500 = $41,500
According to the provisions of the _____, publically listed companies now must allow shareholders to vote on executive compensation.
Answer:
According to the provisions of the Dodd-Frank Act, publically listed companies now must allow shareholders to vote on executive compensation.
Explanation:
In the aftermath of the financial crises of 2008, shareholders of public companies were given the right to vote or in short have their say on executive compensation matters or rules framed by the directors.
The said rule conferred a right on the shareholders to vote once in three years on executive compensation so as to keep excessive compensation to executives in check.
The companies in such a scenario ain't bound by such votes but such a right to shareholders represents their outlook on the decisions made by the Board.
Jan. 1Purchased a small company and recorded goodwill of $177,000. Its useful life is indefinite. May 1Purchased for $144,000 a patent with an estimated useful life of 6 years and a legal life of 19 years. Prepare necessary adjusting entries at December 31 to record amortization required by the events above.
Answer:
The Journal entries are as follows:
(i) On December 31,
No entry
(ii) On December 31,
Amortization expense A/c Dr. $16,000
To Patents A/c $16,000
(To record the amortization expenses)
Workings:
Amortization expense:
= (Purchasing cost of patent ÷ Estimated useful life) × Time period
= ($144,000 ÷ 6) × (8/12)
= $24,000 × (8/12)
= $16,000
To record amortization at December 31, no entry is needed for goodwill due to its indefinite life. For the patent, an adjusting entry debits Amortization Expense and credits Patent Accumulated Amortization for $16,000, reflecting 8 months of amortization.
The question deals with recording amortization for both goodwill and a patent according to the events described. Goodwill, with an indefinite life, is not amortized but may be subject to impairment tests. The patent, however, has a definite useful life over which it should be amortized.
Adjusting Entries at December 31
No amortization entry is required for goodwill since its life is indefinite. It should be reviewed annually for impairment.
For the patent purchased on May 1 for $144,000 with a 6-year useful life, the annual amortization expense would be $24,000 ($144,000 / 6 years). However, since the patent was purchased partway through the year, only 8 months (May through December) of amortization should be recorded for the first year. This amounts to $16,000 ($24,000 × 8/12 months).
The necessary adjusting entry for the patent on December 31 is to debit Amortization Expense for $16,000 and credit Patent Accumulated Amortization for $16,000.
At the beginning of theâ year, Swift,â Inc.'s Work-in-Process Inventory account had a balance of $ 122 comma 000. During theâ year, $ 250 comma 000 of direct materials were used inâ production, and $ 70 comma 000 of direct labor costs were incurred. Manufacturing overhead amounted to $ 826 comma 000. The cost of goods manufactured was $ 673 comma 000. What is the balance in theâ Work-in-Process Inventory account on Decemberâ 31?
Answer:
$595,000
Explanation:
We know that
Cost of goods manufactured = Work in process opening balance + Manufacturing cost - Work in process closing balance
where manufacturing cost equal to
= Direct material used + Direct labor cost + Manufacturing Overhead cost
= $250,000 + $70,000 + $826,000
= $1,146,000
So, the Work in process closing balance would be
$673,000 = $122,000 + $1,146,000 - Work in process closing balance
So, the Work in process closing balance would be $595,000
To follow is selected information about the Little Dipper Company for the current year and prior year Account Net sales revenue Cost of goods sold Gross profit Selling/general expenses Net income before tax Income tax Net income Current $648,000 $414,720 $233,280 $149,040 $84,240 $25,120 $59,120 Prior $595,000 $425,000 $170,000 $93,500 $76,500 $22,800 $53,700 What is the current years net income percentage (as would be found on a vertical analysis of the income statement for the current year)? A. 70.18% B. 235.35% С. 9.12% D, 10.09%
Answer: D- 9.12%
Explanation:The current net income percentage is calculated thus:
Current year net income = $59,120
Prior year net income = $53,700
diff in btw the two period = $59, 120-$53,700 = $5,420
current year net income percentage = $5,420/$59,120 = 0.0912779 *100
= 9.12%
Hawkins company has owned 10 percent of Larker Inc., for the past several years. This ownership did not allow Hawkins to have significant influence over Larker. Recently, Hawkins acquired an additional 30 percent of Larker and now will use the equity method. How will the investor report change?
a. a cumulative effect of an accounting change is shown in the current income statement
b. a retrospective adjustment is made to restate all prior years presented using the equity method
c. no change is recorded; the equity method is used from the date of the new acquisition
d. Hawkins will report the change as a component of accumulated other comprehensive income
Answer:
An equity security can be defined as the stocks owned by someone of another company. This will give the stockholder opportunity a power to influence the operational and management decision of the company. Based on the number of shares, the accounting method is decided for the same.
In equity method, the profits earned by the investments of stockholders in other companies are determined by the company. Companies use the equity method to record the investments as soon as they make the investments.
Option A:
Since they had to show the investment in the income statement before as well, option A is not correct.
Option B:
No adjustment entry would be made for the prior years as for the past years, only 10% was owned. So option B is also incorrect.
Option C:
This option is correct because the equity method starts from the time the investment is made.
Option D:
No change will be made at the end of Hawkins. So option D is also incorrect.
So the answer to the question is option C.
Classify each cost as being either variable or fixed with respect to the number of units produced and sold. Also classify each cost as either a period or a product cost.1. Hamburger buns in a Wendy's outlet. 2. Advertising by a dental office. 3. Apples processed and canned by Del Monte. 4. Shipping canned apples from a Del Monte plant to customers. 5. Insurance on a Bausch & Lomb factory producing contact lenses. 6. Insurance on IBM's corporate headquarters. 7. Salary of a supervisor overseeing the production of printers at Hewlett-Packard. 8. Commissions paid to automobile salespersons. 9. Depreciation of factory lunchroom facilities at a General Electric plant. 10. Steering wheels installed in BMWs.
Answer:
1. Hamburger buns in a Wendy's outlet. (Variable) (Product)
2. Advertising by a dental office. (Fixed) (Period)
3. Apples processed and canned by Del Monte. (Variable) (Product)
4. Shipping canned apples from a Del Monte plant to customers. (Variable) (Period)
5. Insurance on a Bausch & Lomb factory producing contact lenses. (Fixed) (Product)
6. Insurance on IBM's corporate headquarters. (Fixed) (Period)
7. Salary of a supervisor overseeing the production of printers at Hewlett-Packard. (Fixed) (Product)
8. Commissions paid to automobile salespersons. (Variable) (Period)
9. Depreciation of factory lunchroom facilities at a General Electric plant. (Fixed) (Product)
10. Steering wheels installed in BMWs. (Variable) (Product)
Explanation:
Fixed Cost: Fixed, and does not depend on production.
Variable Cost: Not fixed and varies according to production
Product Cost: Directly attributable to Product e.g. Direct Material, Direct Labour,etc.
Period Cost: Revenue expenditure, spread through time.
Derek has recently been promoted to the position of Manager of Customer Relations. He is tasked with improving service provided by his department. Derek is aware that he has to rely on both his managerial skills and his leadership skills in his new role. Below are a set of tasks that Derek will perform as the branch manager. Classify them as either managerial tasks or leadership tasks by matching them to the category in which they belong.
Ensuring that workers adhere to work timings
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Managerial Task
Introducing new processes to streamline training
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transparent-blueR.gif
Leadership Task
Assessing the performance of his team members
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Identifying innovative methods for service delivery
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Planning the training schedules of the department
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Motivating workers to reach their individual goals
Answer:
Ensuring that workers adhere to work timings---------- Managerial Task.
Introducing new processes to streamline training-------- Leadership Task.
Assessing the performance of his team members--------- Leadership Task.
Identifying innovative methods for service delivery-------- Managerial Task.
Planning the training schedules of the department------- Managerial Task.
Motivating workers to reach their individual goals-------- Leadership task.
Explanation:
Final answer:
Derek's tasks as Manager of Customer Relations involve managerial tasks like ensuring work timings adherence, assessing performance, and planning training schedules, alongside leadership tasks such as introducing new processes, identifying service delivery innovations, and motivating workers.
Explanation:
In fulfilling his role as Manager of Customer Relations, Derek will need to distinguish between managerial tasks and leadership tasks. Managerial tasks typically involve routine, organizational, and administrative duties while leadership tasks focus on vision, innovation, and motivating employees. Below is the classification of Derek's tasks:
Ensuring that workers adhere to work timings - Managerial TaskIntroducing new processes to streamline training - Leadership TaskAssessing the performance of his team members - Managerial TaskIdentifying innovative methods for service delivery - Leadership TaskPlanning the training schedules of the department - Managerial TaskMotivating workers to reach their individual goals - Leadership TaskManagerial tasks like assessing performance and planning training schedules are essential for maintaining order and consistency. Meanwhile, leadership tasks such as motivating workers and introducing new processes are critical for growth, innovation, and adaptability in service delivery.
On December 31, 2022, before any year-end adjustments, Canterbury Shoe Repair's Prepaid Insurance account had a balance of $3,500. It was determined that $2,200 of the Prepaid Insurance had expired. The adjusted balance for Prepaid Insurance at December 31, 20122, will be________________.
Final answer:
To calculate the adjusted balance for Prepaid Insurance, we subtract the expired portion of $2,200 from the initial balance of $3,500, resulting in an adjusted balance of $1,300 at December 31, 2022.
Explanation:
The subject of the question is determining the adjusted balance for the Prepaid Insurance account at the end of the accounting period after recognizing the expired portion of the insurance coverage. The beginning balance in the Prepaid Insurance account was $3,500. Since it was determined that $2,200 of the Prepaid Insurance had expired, we need to subtract this amount from the initial balance to find the adjusted balance. The calculation is as follows:
Adjusted Prepaid Insurance balance = Beginning Prepaid Insurance balance - Expired Prepaid Insurance
Adjusted Prepaid Insurance balance = $3,500 - $2,200
Adjusted Prepaid Insurance balance = $1,300
So, the adjusted balance for Prepaid Insurance at December 31, 2022, will be $1,300.
Adam entered into a contract with Ben for the purchase of ten tons of coal for $200. Ben refused to supply the coal and Adam had to buy ten tons of coal for $300 from Chris.
(A) Adam could have forced Ben to specifically perform the contract.
(B) The measure of consequential damages is $100.
(C) Adam is entitled to puniti ve damages.
(D) The measure of damages is $300.
Answer: B the measure of consequential damages is $100. Because Adam would have a profit of $100 is Ben had not refused to supply the coal.
The Japan-based multinational Sony engaged in __________ when it partnered with Shanghai Oriental Pearl Group. Together, the two companies would make and market PlayStation consoles and games in China.
Answer:
The correct word for the blank space is: a joint venture.
Explanation:
In a joint venture, two or more businesses agree to contribute to capital and resources for a common project. Usually, developers, manufacturing companies, and service providers agree to produce a good. If successful, those parties split the profits based on the value of their respective contribution to the joint venture.
On December 31, 2016, the end of Larry's Used Cars' first year of operations, the accounts receivable was $53,800. The company estimates that $1,700 of the year-end receivables will not be collected. Accounts receivable in the 2016 balance sheet will be valued at:
A. $55,500.
B. $1,700.
C. $52,100.
D. $53,800.
Answer:
accounts Receivable = $52,100
correct option is C. $52,100
Explanation:
given data
accounts receivable = $53,800
company estimates = $1,700
solution
we get here accounts Receivable that is express as
accounts Receivable = accounts receivable - company estimates ................1
accounts Receivable = $53,800 - $1,700
accounts Receivable = $53,800 - $1,700
accounts Receivable = $52,100
correct option is C. $52,100
A union has negotiated a contract that states the following: work up to 40 hours per week will be paid at a base rate of $10 per hour. All work in excess of 40 hours, but less than 48 hours will be paid at a rate equal to 1½ times the base rate. Any work in excess of 48 hours will be paid at double time. This pay scale agrees with:________a. the law of supply. b. the law of demand. c. the law of supply and demand. d. ceteris paribus. e. can't tell with the information provided.
Answer:
a. the law of supply.
Explanation:
This pay scale agrees with the law of supply, which states that the higher the price, the higher the supply. We will observe that the higher the pay scale the higher the number of hours worked per week.
Answer:
A
Explanation:
The law of supply
The law of supply is basic and fundanental microeconomic law which, butresses the fact that, other factors being equal and constant, any increase in the price of a good or service increases automatically makes the quantity of goods or services that suppliers offer will increase, and it is the same vice versa. The law of supply says that as the price of an item increases, suppliers will attempt to maximize their profits by increasing the quantity offered for sale.
You meet a friend of yours for lunch. He is a supplier of coffee machines. While talking business, you mention to him that you've decided to use the principles of supply and demand to determine the market price for the coffee you plan to sell at your kiosk on campus. He suggests that you're making a lot of work for yourself, and you should just set your price based on the prices charged by your competitors.
However, you're apprehensive about using that approach.
Which would be the best argument in favor of your decision to use the principles of supply and demand
Final answer:
Choosing supply and demand principles to set prices for coffee at a campus kiosk takes into account variances in market conditions, such as changes in consumer preferences and supply issues, ensuring that prices can adapt to reach equilibrium without relying solely on competitors' pricing.
Explanation:
Using the principles of supply and demand to determine the market price for coffee you plan to sell at your kiosk on campus can be very beneficial. Competition indeed affects the market, but it doesn't always account for all the variances in the economy.
When you adhere to supply and demand principles, you can accurately adjust your prices based on real-time market conditions, like changes in consumer preferences or supply shortages. For instance, if the price of coffee were lowered to $2, according to the law of demand, the quantity demanded would increase, potentially creating a disequilibrium where demand exceeds supply, leading to a shortage. Conversely, when there's an excess supply due to a decrease in demand, prices would naturally fall to reach a new equilibrium.
Additionally, these adjustments of equilibrium price and quantity typically occur organically within a market-oriented economy, without much need for government intervention. An unforeseen event, such as a frost affecting the coffee crop in Brazil, might shift the supply curve of coffee to the left, causing a rise in price. Through the market's self-regulation, supply and demand will dictate the allocation and pricing, not just the singular aspect of competitor pricing. Hence, relying solely on competition and setting prices similar to your competitors may not optimally reflect the continuously changing market dynamics that supply and demand principles consider.
Some lenders let you prove you can borrow money responsibly even if you don't have a credit history.
True/False
Answer:
pretty sure true if they are very generous
Explanation:
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To ensure that as many individuals as possible use helmets, the government recently decided to subsidize the production of helmets.
Which of the following will happen as a result of this subsidy? Choose one or more:
A. The demand curve for helmets will increase.
B. The demand curve for helmets will remain the same.
C. The demand curve for helmets will shift to the left.
D. The supply curve for helmets will shift to the left.
E. The supply curve for helmets will shift to the right.
Answer: B & E
Explanation:
If a subsidy is provided for the production of helmets, the demand curve is unaffected, but the supply curve shifts to the right. A production subsidy encourages production because it reduces costs for the producer. However, it will not affect market demand.
A government subsidy on the production of helmets will cause the supply curve to shift to the right, indicating an increase in supply at every price level. The demand curve remains the same initially, but the subsidy can indirectly affect the quantity demanded by making helmets more affordable.
To determine the effect of the government subsidy on the production of helmets, we need to consider how it affects the supply curve and the demand curve. Subsidies are financial contributions from the government to producers, which effectively reduce the cost of production. A subsidy does not directly affect the demand curve; instead, it leads to an increase in supply because it lowers production costs, making it cheaper for producers to supply more at every price level.
The correct answer to the given question would be E. The supply curve for helmets will shift to the right. This is because the subsidy makes it less expensive for producers to make helmets, encouraging them to make more. The increased supply can lower the market price of helmets, making them more affordable to consumers without directly altering the demand curve. Therefore, the demand curve for helmets will remain the same initially (answer B), but the effect of a lower price may eventually increase the quantity demanded.
Many partnerships provide for the admission of new partners or withdrawals of present partners in the partnership agreement so that the firm may continue to operate without executing a new agreement.
True/False
Answer:
The statement is: False.
Explanation:
A partnership is an organization where two or more owners operate a business. They share the profits in proportion to their percentage partnership interest. There are two types of partnerships: general partnerships (unlimited liability) and limited partnerships (the liability is proportional to the amount of the money the partners contribute to the partnership).
If one of the partners retires, wants to exit the partnership, passes away or if a new partner will be added, the partnership is dissolved and a new partnership is formed.
It is true that partnerships often include provisions for adding or removing partners in their agreements, which allows the business to continue without creating a new agreement. This flexibility makes partnerships manageable and capable of adapting to changes in ownership.
True, many partnerships provide for the admission of new partners or withdrawals of present partners in the partnership agreement so that the firm may continue to operate without executing a new agreement. This is often stipulated in the partnership paperwork, allowing for a more efficient business operation and the ability to easily attract investors or address the withdrawal of existing partners. Partnerships are a flexible form of business, which can be an advantage, as they allow existing partners to manage transitions without dissolving the business entity.
There are several positive aspects of a partnership: it is straightforward to start up a business with a partnership agreement, partnerships are easy to manage, and there are no special taxes on partnerships. Additionally, partnerships can hire additional employees to support the growth of the business.
However, the main disadvantage of partnerships is the joint responsibility for each partner's actions. If one partner defaults on their responsibilities or makes poor decisions, other partners may be held accountable, potentially affecting the firm's continuity and finances. This risk emphasizes the importance of clearly outlined terms in the partnership agreement regarding the addition or withdrawal of partners.
Mary Catherine is a recent employee who initially requires 17 minutes to complete a job task. If she experiences a learning rate of 77%, how much time will it take her to complete the sixth task?
Answer:
for sixth tasks, she will spend 77% of 5.98 minutes =`4.60 minutes
Explanation:
Mary Catherine is a recent employee
initial time requires 17 minutes to complete a task
as she get use to the task, her experiences a learning rate is found to be 77% for each task,
how much time will it take her to complete the sixth task?
Now, we need to calculate per task
the first task, she spend 17 minutes
for second tasks, she will spend 77% of 17 minutes =
= 0.77 * 17 = 13.09 minutes
for third tasks, she will spend 77% of 13.09 minutes =
= 0.77 * 13.09 minutes = 10.08 minutes
for fourth tasks, she will spend 77% of 10.08 minutes =
== 0.77 * 10.08 minutes = 7.76 minutes
for fifth tasks, she will spend 77% of 7.76 minutes =
== 0.77 * 7.76 minutes = 5.98 minutes
for sixth tasks, she will spend 77% of 5.98 minutes =
== 0.77 * 5.98 minutes = 4.60 minutes
Many of the common items that you use everyday are manufactured in Asia. If the H-O model applies, what would account for this?
Group of answer choices:
O Asian countries are abundant in low-skilled labor, and so items can be manufactured at lower opportunity cost.
O Asian countries do not enjoy a comparative advantage in any economic activity, so they end up being exploited by wealthy countries.
O The US has used its military power to oppress the Asians and force them to work for low wages.
O Global corporations have located their manufacturing operations in Asia in their attempt to impoverish the people of Asia.
Answer:
O Asian countries are abundant in low-skilled labor, and so items can be manufactured at lower opportunity cost
Explanation:
The H-O model states that countries such produce goods and services that it can efficiently and effectively manufacture or produce at a lower cost of production.
Asian countries are abundant in low-skilled labor, and so items can be manufactured at lower opportunity cost.