Answer:
The previous standard-setting organization had not provided a structured set of accounting principles (B)
Explanation:
Given wide criticism that the Committee on Accounting Procedure (CAP) did not reduce alternative accounting principles, the AICPA appointed a special committee to recommend “definite steps to lead in the thinking on unsettled and controversial issues.
The committee’s report in September 1958 led to the establishment of the Accounting Principles Board (APB), replacing the CAP one year later.
____ involves completely disclosing to participants the goals and procedures involved in the study and obtaining their agreement to participate.
Answer: The correct answer is OBTAINING INFORMED CONSENT.
Explanation: TIPS: In obtaining informed consent, participants are fully informed of the subject about his or her rights, the aim of the study, the procedures to be undertaken, the pros and cons of their participation, length of time of the study.
This is to ensure that the participation of subjects in the study is entirely voluntary and decision is not influenced.
Max Weber believed that a company that is a bureaucracy never achieves a competitive advantage because it is inefficient and is plagued with management problems.True or False
Answer:
False
Explanation:
Max Weber's theory on bureaucracy was in favor of efficiency and rationality in the way of operations either of a governing system or a business organisation.
Bureaucracy is the structure of administration governing any particular large organisation either a public/government organisation (ministry) or a private organisation (companies and firms). Bureaucracy as far as a company is concerned is the hierarchy structure that oversees the affairs of the business.
Hence, Max Weber speaks in favour of the fact that bureaucracy brings efficiency and rationality in how organisational activities are conducted and that the introduction of hierarchical structures reinforces this rationality as well as the maximization of efficiency as well as order in an organisation.
Andrea, the COO of a wine country luxury tourist train business, has been asked to present her company with an evaluation of strong prospects for attractive profits. What would she normally not include in her analysis?
Answer:
The factors affecting the tourism negatively.
Explanation:
There are a lot of factors which influence the tourism in any country, obviously there can be pros and cons.
Some factors that Andrea wouldn't like to include in her analysis can be the weather conditions(weather plays a huge role in attracting tourism), safety(Safety is the top most priority of every tourist), road conditions(If the conditions are not good for travelling via car, tourists may think twice before going to that particular place.
Hence, these are some factors that Andrea will try to not include in her analysis in order to show attractive profit prospects.
Hope this clears your thought. ThankYou.
Andrea, the COO of a wine country luxury tourist train business, would normally not include personal opinions or anecdotal evidence in her evaluation of strong prospects for attractive profits.
In a business analysis concerning the prospects for attractive profits, it is critical to base the evaluation on data-driven insights and objective measures rather than subjective views. Andrea should focus on several key elements:
Market Analysis: Evaluating the target market's size, growth potential, and competitive landscape to understand demand for luxury tourist trains.Financial Projections: Detailed profit and loss statements, cash flow analysis, break-even analysis, and return on investment projections to assess profitability.Operational Efficiency: Ensuring effective cost management, resource allocation, and process optimization to maximize profits.Customer Insights: Using customer feedback, preferences, and satisfaction surveys to tailor services that meet market needs and drive revenue.
Including subjective opinions or anecdotal evidence in such an analysis can undermine the credibility of the evaluation. Data-driven decision-making is paramount for accurately forecasting profitability and identifying strategic opportunities for growth.
An entrepreneur is a person who assumes the risks of organizing and managing a business for the sake of reducing stress from the "rat race."
A) True
B) False
Answer:
false
Explanation:
For that reason, an entrepreneur relates to the individual who arranges and runs a company or enterprise, carrying on larger than average financial risks. Entrepreneurs simply think in a different manner and perform certain activities in different ways.
Being entrepreneurial can imply inside understanding of your business and being willing to use that skills to make new possibilities. Being creative may involve openly sharing ideas, and embracing so-called mistakes as learning and interactions developing.
Thus, from the above we can conclude that the given statement is false.
Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation%u2014 Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expense, and Accounts Payable. The unadjusted trial balance for Sierra Corp. is shown in Illustration 4-4 (page 168). Instead of the adjusting entries shown in the text at October 31, assume the following adjustment data. 1. Supplies on hand at October 31 total $500. 2. Expired insurance for the month is $100. 3. Depreciation for the month is $75. 4. As of October 31, services worth $800 related to the previously recorded unearned revenue had been performed. 5. Services performed but unbilled (and no receivable has been recorded) at October 31 are $280. 6. Interest expense accrued at October 31 is $70. 7. Accrued salaries at October 31 are $1,400.
Adjusting entries for Sierra Corp. on January 31 include adjustments for supplies used, expired insurance, depreciation, performed services (both billed and unbilled), accrued interest, and accrued salaries.
Explanation:Based on the given adjustment data, the adjusting entries for Sierra Corp. will be as follows:
Supplies Expense: Debit $500 and credit Supplies $500, representing the supplies used up.Insurance Expense: Debit $100 and credit Prepaid Insurance $100, indicating expired insurance.Depreciation Expense—Equipment: Debit $75 and Accumulated Depreciation—Equipment: Credit $75, accounting for the depreciation.Service Revenue: Debit Unearned Revenue $800 and credit Service Revenue $800, reflecting services that have been performed.Accounts Receivable: Debit $280 and credit Service Revenue $280, addressing services performed but not yet billed.Interest Expense: Debit $70 and Interest Payable: Credit $70, relating to accrued interest.Salaries Expense: Debit $1,400 and Salaries Payable: Credit $1,400, covering accrued salaries.Learn more about Adjusting Entries here:https://brainly.com/question/33175618
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Faculty members at University of Colorado-Colorado Springs participated in strategic planning sessions to decide whether to emphasize undergraduate research programs as an area of special focus at the university. Part of this process included _____, during which the HR staff and faculty members identified potential opportunities (for instance, possible collaborations with local businesses that would result in mutual benefits to students and the businesses) and threats (dependency on tax funding for support).
Answer:
A part of this process included environmental scanning, during which the HR staff and faculty members identified potential opportunities.
Explanation:
The term 'environment' used in 'environmental scanning' refers to the endpoints and the span of the discipline of knowledge that the faculty members and the University is associated with. Through environmental scanning, it is possible to devise the new and improved opportunities that are available in ones own field of work and knowledge.Part of the strategic planning process at the University of Colorado-Colorado Springs involved a SWOT analysis to identify opportunities and threats related to emphasizing undergraduate research programs. This analysis helps in strategic decision-making by evaluating strengths, weaknesses, opportunities, and threats.
Faculty members at the University of Colorado-Colorado Springs participated in strategic planning sessions to decide whether to emphasize undergraduate research programs as an area of special focus at the university. Part of this process included SWOT analysis, during which the HR staff and faculty members identified potential opportunities (for instance, possible collaborations with local businesses that would result in mutual benefits to students and the businesses) and threats (dependency on tax funding for support).
A SWOT analysis helps organizations identify their Strengths, Weaknesses, Opportunities, and Threats to enable strategic decision-making. In this context, the exercise aimed to help the university determine the feasibility and potential impacts of emphasizing undergraduate research programs.
1. Supports the incident action planning process by tracking resources, collecting/analyzing information, and maintaining documentation.
2. Sets the incident objectives, strategies, and priorities, and has overall responsibility for the incident.
Answer:
1- planning
2- command
Explanation:
1- Planning deals with thoughts and organising the tasks required to attain a target goal.... Planning is also a management process which deals with defining goals for the long term viability of a company and deciding the tasks and resources to achieve those goals
2- Command directs the company with plans well thought out to work effectively. Command incorporates the organisation's framework to make it more effective.
The three goals of sustainable development that include economic, environmental, and ethical sustainability are referred to as the:
Answer:
The three main pillar of sustainability
Explanation:
Sustainability is fulfilling the present needs without compromising the needs of the future generation.
The three main pillars of sustainability include economic, environmental and social.
Economic pillar of sustainability - it is referred to that strategy that focuses is to use economic resources in a sustainable.
Environmental pillar of sustainable - it is focused on the use of such thing that lower the impact of facilities on the environment
Social Pillar of sustainable - is work on training programs to fulfill the needs of individuals according to the group.
Answer:
Explanation:
Sustainability is the practice of using natural resources responsibly, so they can support both present and future generations. There are three pillars of sustainability: economic, environmental, and social. A good example of Economic sustainability is to renovate your home or pay back debt. An example of environmental sustainability is to ban diesel cars or get rid of certain large polluting factories. Finally, an example of social sustainability is to volunteer for your community or protest for human rights.
When a grant-application package lists eligible applicants, it is just a suggestion. This is America: all organizations are eligible to apply for all grants.
Answer:
false
Explanation:
The United States government do make some monies available to individuals or organisation in the form of grants, for the achievement of set purposes or goals. Not everyone or organisation can be eligible for all the available grants at any time. People are expected to look through various application processes to know if they are legally eligible to apply for any grant in order to avoid wasting their time and money during application.
The attainable production points on a production possibility curve are
Answer:
Points along and inside the PPF (Production Possibilities Frontier)
Explanation:
PPC stands for Production Possibility Curve, which measures or evaluates the maximum output of the two goods and that is using the fixed amount of input.
The point on the curve states how much or amount of each good is to produced when the resources are shifted or moved from making more of one good or less of the other one.
Therefore, the attainable production points on the PPC are the points that are inside and along the production possibilities Frontier (PPF).
Bramble owes $2.9 million that is due on February 28. The company borrows $2,340,000 on February 25 (5-year note) and uses the proceeds to pay down the $2.9 million note and uses other cash to pay the balance. How much of the $2.9 million note is classified as long-term in the December 31 financial statements?
Answer:
It is $2,340,000
Explanation:
Since the old debt of $2.9 million has been discharged using new debt issued of $2,340,000 and some cash, the value of the new debt issued will be recognized as a new liability.
However, the balance that will be recognized as long-term will be the liability that is payable after one year while the element that is payable within a year will be recognized under current liability in the financial statement at the end of the year.
Equipment that cost $411000 and on which $194000 of accumulated depreciation has been recorded was disposed of for $173000 cash. The entry to record this event would include a ________.
Answer:
Given that,
Cost of equipment = $411,000
Accumulated depreciation = $194,000
Dispose accumulated depreciation for cash = $173,000
The Journal entry is as follows:
Cash A/c Dr. $173,000
Accumulated depreciation A/c Dr. $194,000
Loss in Disposal A/c Dr. $44,000
To Equipment a/c $411,000
(To record the accumulated depreciation and dispose off.)
Loss in Disposal:
= Cost of equipment - Accumulated depreciation - Dispose accumulated depreciation
= $411,000 - $173,000 - $194,000
= $44,000
The price elasticity of demand is:
a) the ratio of the percentage change in quantity demanded to the percentage change in price.
b) the responsiveness of revenue to a change in quantity.
c) the ratio of the change in quantity demanded divided by the change in price.
d) the response of revenue to a change in price.
Answer:
a) the ratio of the percentage change in quantity demanded to the percentage change in price.
Explanation:
The formula of the price elasticity of demand is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)
Change in quantity demanded would be
= Q2 - Q1
And, average of quantity demanded would be
= (Q1 + Q2) ÷ 2
Change in price would be
= P2 - P1
And, average of price would be
= ($P1 + P2) ÷ 2
The price elasticity of demand is the ratio of the percentage change in quantity demanded to the percentage change in price, making option a) the correct answer. It's a fundamental concept in economics that describes how sensitive the demand for a product is to changes in its price.
The price elasticity of demand is understood as the ratio of the percentage change in quantity demanded to the percentage change in price. This concept is critical in understanding how sensitive the demand for a product is in relation to its price changes. The correct answer to the given question is a) the ratio of the percentage change in quantity demanded to the percentage change in price.
Price elasticity of demand illustrates how demand for a product can significantly vary with a slight change in its price, enabling businesses and economists to predict potential revenue changes. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. Understanding this concept is crucial not only in setting prices but also in anticipating market dynamics and consumer behavior.
"A(n) ________ is a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service."
Answer:
Brand
Explanation:
Brand is the marketing strategy that makes the distinct product of the company from the other company dealing in the same type of products.
It could be name, term, sign, symbol, design, etc so that an individual can make a difference and interpret that this product is of which company.
Most people are brandholic they purchase the product from their particular brands.
The motive of the brand is to know the company products either by worth of mouth or by their distinctive features.
Eliza is a kindergarten teacher for Alexander Hamilton Elementary School. Eliza decorates her classroom with new artwork, posters, bulletin boards, etc. In 2018, she spends $470 on materials and supplies for her classroom. The school reimburses her $100 (the annual reimbursement limit). Eliza can deduct _________ for AGI and _________ from AGI.
Answer:
Eliza can deduct $250 for AGI and $0 from AGI.
Explanation:
Due to the Tax Cuts and Jobs Act, a teacher can only deduct classroom expenses up to $250.
The $250 are above the line deductions that lower your adjusted gross income (AGI), while the $0 represents below the line deductions made once your total AGI has been calculated.
First Principles — End of Chapter Problem Describe some of the opportunity costs when you decide to do the following.
a. Attend college instead of taking a job Being able to find a better, more highly paid job after graduation
b. Developing a deeper understanding of concepts that will benefit you when you do eventually take a job
c. The income you would have earned on the job and the valuable on-the-job experience you would have acquired Foregoing the joy of learning
Answer:
First of all, opportunity costs are the costs of choosing one alternative activity or investment over another.
A) When you decide to attend college, you are going to pay a lot money instead of working and being able to earn money right away. The opportunity costs of going to college are the lost wages and experience that you could have acquired at a job. Most people who attend college are willing to sacrifice lost wages (at least 4 years of lost wages) and working experience in order to have the possibility of obtaining a better paying job once they graduate.
Questions B and C are directly related to question A, there are no alternative actions presented.
Individual Retirement Accounts (LO 5.3) Mary has a Roth IRA held more than 5 years to which she has contributed $30,000. The IRA has a current value of $62,000. Mary is 55 years old and she takes a distribution of $38,000. How much of the distribution will be taxable to Mary?
Answer:
$8,000
Explanation:
Since Mary is not 59 1/2 years old yet, the distributions she gets from her Roth IRA will be taxed (she only met the 5 year rule). She will have to pay a 10% penalty and income taxes on the earnings that she withdraws.
Mary will have to pay only for the earnings that she withdraws, and luckily for her the contributions are withdrawn first. Mary's earnings = $38,000 - contributions = $38,000 - $30,000 = $8,000
Final answer:
Mary will owe no tax on the $38,000 distribution from her Roth IRA because she is over 55, has held the account for more than 5 years, and Roth IRA distributions are tax-free under these conditions.
Explanation:
Concerning the question about how much of Mary's Roth IRA distribution will be taxable, we need to consider the characteristics of a Roth IRA. Since Mary has held the Roth IRA for more than 5 years and is older than 59 and a half, her distributions are generally tax-free, comprising both her contributions and any earnings on the investments.
As she contributed $30,000 and is withdrawing $38,000, it implies that she is taking out her contributions ($30,000) and a portion of the earnings ($8,000). However, because Roth IRA distributions are tax-free for individuals over 59 and a half and the account has been open for more than 5 years, Mary will owe no tax on the $38,000 distribution.
Variable universal life insurance policies:
A. have fixed premiums and a fixed benefit payout.
B. have fixed premiums but allow the benefit payout to vary with investment returns.
C. have a fixed benefit payout but allow the premium to vary with investment returns.
D. allow both the premium and benefit payout to vary with investment returns
Answer:
D. allow both the premium and benefit payout to vary with investment returns
Explanation:
Variable universal life insurance policies allow both the premium and benefit payout to vary with investment returns. In the variable universal life insurance policy it is flexible and gives insured with the option to invest as well as alter the insurance coverage with ease. Policyholder has the option to decide the amount and the frequency of premium payment in a specific limits.
As many organizations have cut costs and streamlined their organizational design to respond better to customer needs, they have pushed decision-making authority to ________.
Answer:
the lowest levels in the organization.
Explanation:
Organizations have flattened, that means that they have reduced the number of levels and instead of operating like a tall pyramid, they are operating like very flat pyramids with a lot more subordinates per supervisor and/or manager. As a result of this, employees at the operating levels are now able to make certain decisions regarding customers' needs that before needed to be approved by a manager or supervisor.
For example, under certain conditions, retail clerks can offer discounts to customers without asking permission from their supervisor.
Given the law of demand, you would expect the rise in the price of gasoline to ______ the quantity of gasoline demanded and ______ the demand for gasoline.A. decrease; decreaseB. not change; decreaseC. decrease; not changeD. increase; decrease
Answer:
C. decrease; not change
Explanation:
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
The rise in price of gasoline only affects the quantity demanded. Other factors affect the demand for gasoline.
I hope my answer helps you
The Do It Yourself Hardware Store is a monopolistically competitive firm. Its marginal revenue curve
A. lies below its demand curve intersecting the quantity axis at the same point at which the demand curve intersects it.
B. is below its demand curve if demand is elastic and above the demand curve if demand is inelastic.
C. is identical to its demand curve.
D. lies below its demand curve intersecting the quantity axis midway between the origin and the point at which the demand curve intersects it.
Answer: The marginal curve lies below its demand curve intersecting the quantity axis midway between the origin and the point at which the demand curve intersects it.
Explanation:The marginal curve is negatively sloped because a monopolistic competitive firm is a price taker. Firms in a monopolistic competitive market are similar and are only differentiated by the physical appearance of the product and marketing strategy of the firm, this mean the competition is stiff and in order to sell an extra unit of a product the firm must reduce its selling price just a little below the prevailing market price or price of competitors. Hence, Marginal revenue is lower than Average revenue
According to the principle of _____, a country that decides to specialize in the production of a particular product must sacrifice the production of another product.
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Wanderberg Machines went on a whirlwind tour that consisted of meetings in 12 key cities where the firm presented its business plan to groups of investors. This tour was a ______.
Answer:
Road show
Explanation:
In business, a roadshow usually refers to carrying on a series of presentations (shows) on different locations (the road part) where potential investors are invited. Usually roadshows take place before an initial public offering (IPO) or prior to a large issue of stocks. This events bring together potential investors and executive management.
Generally, the top management of a company would most benefit from information such as summary reports of transactions, detailed reports of problems, and operating plans and policies. True or false?
Answer:
False
Explanation:
Different levels of management have their information need, this can be classified as operational, tactical and strategic.
Operational information - are information relating to day to day routine of the entity, such information is needed by the lower level management.
Tactical information- are information which deals with decisions relating to the deployment of the various assets of an entity, this information is needed by middle level management.
Strategic information - This is information that relates to the strategic focus of an entity such information is for top level management..
Suppose the U.S. Drug Enforcement Agency steps up its efforts to control the illegal importation of cocaine into the United States. What is the likely effect on the market for illegal drugs in the United States?
Answer:
The Price of Cocaine would rise drastically
Explanation:
If U.S Drugs Enforcement Agency impose higher restrictions in an effort to control illegal import of cocaine into the United States, this would directly impact the market for illegal drugs in the following ways:
Since more restrictions get imposed, the procurement cost of cocaine alongside the risk associated with it in the form of higher penalties and prosecution, both will rise.The supply of cocaine would shrink in the market.The above two outcomes would result into the procurers and peddlers demanding much greater price for the same quantity of cocaine so as to compensate for the higher risk assumed and higher procurement costs associated.Thus, price of cocaine will rise drastically as an outcome of such a move.
A customer, age 51, has a 20 year investment time horizon, a moderate risk tolerance, and is looking for investments that provide both income and growth. The best recommendation would be:
Answer:
large capitalization growth stocks
Explanation:
Out of the four possible options, large capitalization growth stocks are the only option that provides potential growth and receives income from dividends.
Money market instruments are extremely safe investments, but they yield a very low return. This type of investment is suitable for investors that wish to preserve their capital.
Mutual funds is not a very specific answer, since it can apply to several types of investments.
Bonds only provide income, but they do not provide growth (fixed coupon rate).
If a 20 percent increase in the price of Red Bull energy drinks results in a decrease in the quantity demanded of 25 percent, demand for Red Bull is _______ in this range.a. inelasticb. elasticc. verticald. unit elastic
Answer:
Elastic
Explanation:
Elasticity = 25% / 20% = 1.25
The demand is elastic .
Demand is elastic if the coefficient of elasticity is greater than 1.
If demand is elastic, it means a change in price leads to a greater change in the quantity demanded.
I hope my answer helps you
In marketing and consumer research, the conative component of the tricomponent attitude model is frequently treated as an expression of the consumer's ________.
A) attitudeB) level of familiarityC) intention to buyD) attitude toward the objectE) ego-defensive function
Answer:
C. Intention to buy
Explanation:
Attitude simply represents behaviour which is learned that makes an individual respond either in a favourable or unfavourable way to a particular object. It could be a good, service, product among others. Attitude is important in determining consumer behaviour and it greatly affects marketing
The Tricomponent Attitude Model is one of four categories of attitude models usually considered in marketing. The model consists of 3 parts or components as follows
a. The cognitive component- deals with the perceptions and knowledge of consumers about services, products or brands
b. Affective component- this general measures or assesses the disposition of a consumer to a product and it measures as favourable or unfavourable
c. Conative component- This component of the tricomponent attitude mode is basically concerned with the consumer's intention to buy a particular product, patronise a brand or request a service.
Answer:
C) intention to buy
Explanation:
Conative component is a component of the tricomponent attitude model, it is concerned with the tendency that a person will act in a particular way with regard to the attitude object.
Intention to buy in marketing can be used to access the possibility of a consumer to purchase a product or behave in a particular way.
When preparing a journal entry for a transaction that affects retained earnings, the "Retained Earnings" account should not be debited or credited. Instead, the account which ultimately affects retained earnings should be debited or credited. True or false?
Answer:
True
Explanation:
As we know that the ending balance of retained earnings is computed by considering the following equation
= Starting balance of retained earnings + net income - dividend paid
Since the net income which is come by subtracting the expenses from the revenue and the dividend paid is debited or credited at the time of passing the journal entries instead of retained earning account because these above accounts are got affected.
Like expenses account are always debited while the income account are always credited
Manistee Corporation reported taxable income of $1,200,000 this year and paid federal income taxes of $408,000. Not included in the computation was disallowed entertainment expenses of $25,000, tax-exempt interest of $20,000, and a net capital loss of $50,000 incurred this year. Manistee is an accrual basis taxpayer. The corporation’s current earnings and profits this year would be:
A. $1,200,000
B. $1,145,000
C. $787,000
D. $737,000
Answer:
corporation current earning and profits = $737000
Explanation:
given data
taxable income = $1,200,000
paid federal income taxes = $408,000
entertainment expenses = $25,000
tax-exempt interest = $20,000
net capital loss = $50,000
solution
we get here corporation current earning and profits that will be as
corporation current earnings and profits = taxable income - paid federal income taxes - entertainment expenses + tax-exempt interest - net capital loss ................1
put here value we get
corporation current earning and profits = $1,200,000 - $408,000 -$25,000
+ $20,000 - $50,000
corporation current earning and profits = $737000