In ancient Greece, a group of people living together with the common purpose of taking care of each other through economic activity was called a
Pods changed from a sole proprietorship to a corporation. what would be a major reason for making this ownership change?
The ownership change from a sole proprietorship to a corporation is often motivated by limited liability and efficient fund-raising. Shareholders have limited personal financial risk and corporations can easily raise capital through issuing stocks or bonds. This allows for greater financial security and potential growth.
Explanation:PODs changing from a sole proprietorship to a corporation may be primarily driven by the benefit of limited liability. In a sole proprietorship, the owner is personally responsible for all the company's debts, while in a corporation, the owners or shareholders have limited liability for the company's debts. Essentially, the financial responsibility of the shareholders is restricted to the amount they have invested in the company. This limits their personal financial risk.
Another reason could be the ability to raise funds more efficiently. Corporations can raise capital for business expansion or investments by issuing stocks or bonds, which is a simpler method of raising funds compared to sole proprietorships. Owners of a corporation can also benefit from shared profits in the form of dividends. Thus, the shift to a corporation can offer financial protection and opportunities for growth.
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Which type of account has a normal credit balance?
a. withdrawals
b. assets
c. expenses
d. revenues?
In accounting, the type of account with a normal credit balance is revenues. This means that when the company earns income, it's recorded as a credit in the revenue account. Other accounts with normal credit balances are liabilities and equity.
Explanation:In accounting, different types of accounts have different normal balances. A normal balance refers to the side (debit or credit) of an account where you usually increase the balance. The type of account that typically has a normal credit balance is revenues (option d). Whenever a company earns income, it is recorded as a credit in the revenues account. The idea behind this is that credit balances in revenue accounts indicate earnings, while debit balances represent expenses or losses. Other types of accounts that also have a normal credit balance include liabilities and equity.
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When companies use the logic of ethical relativism to behave any way they please, this is known as
a. proscriptive ethical management.
b. prescriptive ethical management.
c. convenient relativism.
d. universal ethics applications?
In calculating the bank discount when discounting an interest bearing note, which one of the following is not used in calculation? A. Bank discount rate
B. Maturity value
C. Principal proceeds
D. Discount period
The correct choice is "C. Principal Proceeds". This answer is 100% correct
Charger company's most recent balance sheet reports total assets of $28,892,000, total liabilities of $16,492,000 and total equity of $12,400,000. the debt to equity ratio for the period is (rounded to two decimals):
a private club registration permit authorizes alcoholic beverages belonging to members of the club to be
The net income of edwards corporation amounted to $74,000 for this year. the beginning balance ofâ stockholders' equity was $31,000 and the ending balance was $72,000. the company issued no common stock during the year. what was the amount of dividends distributed during theâ year?
Problem statements in business reports are most effective when their matter-of-fact tone downplays the urgency of the problems.
In a deposits-only monetary system (people hold no currency) with a 5% required reserve ratio, a bank deposit of $1,000 will increase the total value of the money supply by:
An employee is seriously injured in a job-related accident. the employee has only been on the job 15 months before the accident occurred. based on this information:
When auditing an entity's financial statements in accordance with government auditing standards (the yellow book), an auditor is required to report on:?
On Michigan state waters, which power-driven vessels are required to carry a whistle on board?
All power-driven vessels are required to carry a whistle on board when operating on Michigan state waters.
According to the Michigan state boating laws and regulations, all power-driven vessels, regardless of their size or type of propulsion, must be equipped with an efficient sound-producing device, such as a whistle or horn. This requirement is in place to ensure that vessels can signal their presence or intentions to other boaters, especially in situations where visibility is limited. The sound-producing device must be capable of a continuous sound for at least 4-6 seconds and must be audible for at least one-half mile. This is in compliance with the U.S. Coast Guard's Inland Navigation Rules and is essential for maintaining safety and order on the waterways.
A company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. the balance of accounts receivable can be obtained from the? _
Would it ever be rational for a firm to borrow money in order to pay dividends
Which agency is responsible for regulating the state boating laws in new york?
The New York State Office of Parks, Recreation and Historic Preservation is the agency that controls boating laws in New York. They enforce regulations, issue boat registrations, award safety certificates, set construction and maintenance standards, establish navigation rules, and do safety inspections.
Explanation:In New York, the agency responsible for regulating the state boating laws is the New York State Office of Parks, Recreation and Historic Preservation. This agency enforces boating rules and regulations to ensure safety on water bodies. They issue boat registrations and provide boater safety certificates. They also set standards for boat construction and maintenance, establish navigation rules, and conduct safety inspections.
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In New York, the agency entrusted with regulating state boating laws is the Division of Boating and Waterways, a part of the New York State Office of Parks, Recreation, and Historic Preservation (OPRHP).
This division oversees boating safety measures, enforces regulations, issues licenses, and manages waterway resources across the state.
It plays a pivotal role in ensuring safe and responsible boating practices, promoting environmental conservation, and safeguarding the well-being of both boaters and the aquatic ecosystem.
Hence, the final answer is the Division of Boating and Waterways, under the jurisdiction of the New York State Office of Parks, Recreation, and Historic Preservation (OPRHP).
Smythe industrials has been in business 50 using the same manufacturing model. the company management is considering changing to a lean production and just-in-time (jit) manufacturing process. what would be the advantage of changing its manufacturing systems
Cory knows how to use spreadsheet software to create reports that his managers find useful. this ability indicates cory's
You buy a stock for which you expect to receive an annual dividend of $2.10 for the fifteen years that you plan on holding it. after 15 years, you expect to sell the stock for $32.25. what is the present value of a share for this company if you want a 10% return
Zingz is a soft drink that is widely distributed across cities. it is available at gas stations, department stores, and vending machines. consumers buy the soft drink without much thought or effort. zingz is an example of a _____.â
If we do not pay our student loans, then our credit score will be ruined. we will not pay our loans. therefore, our credit score is going to be ruined.
Dc construction has two divisions: remodeling and new home construction. each division has an on-site supervisor who is paid a salary of $69,000 annually and one salaried estimator who is paid $49,500 annually. the corporate office has two office administrative assistants who are paid salaries of $56,250 and $36,000 annually. the president's salary is $184,500. how much of these salaries are common fixed expenses?
Grapes are an input in the production of wine, and wine and red meat are complements. a decrease in the price of grapes will _________ the total surplus in the market for red meat.
A decrease in the price of grapes, which are used in wine production, can decrease the price of wine and increase the demand for its complements— like red meat. Consequently, this will increase the total surplus in the market for red meat.
Explanation:In economic theory, the term total surplus refers to the sum of consumer and producer surplus in a market. When the price of grapes, a key input in the production of wine, drops, this typically means that the cost of producing wine also decreases. This cost reduction can lead to a decrease in the price of wine, increasing the demand for its complements— in this case, red meat. Therefore, a decrease in the price of grapes will increase the total surplus in the market for red meat.
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(bounds of the firm) ashland oil, inc., buys its crude oil in the market. larger oil refiners, such as texaco, drill for their own crude oil. why do some oil companies drill for their own crude oil and others buy crude oil in the market?
Some oil companies drill for their own crude oil to control their supply and potentially lower long-term costs, while others purchase it on the market for flexibility and short-term cost advantages. Factors influencing this decision include logistics, strategic preferences, risk tolerance, economic considerations, and historical industry consolidation examples like John D. Rockefeller's Standard Oil.
Explanation:The question explores why some oil companies choose to drill for their own crude oil while others purchase it on the market. This decision largely depends on corporate strategies and competitive advantages. Companies like Texaco drill their own oil to have greater control over their supply chain and potentially lower costs in the long run, as they can avoid market price fluctuations. However, drilling is also a significant investment with its own risks and costs. Companies like Ashland Oil, Inc. may instead purchase oil on the market to avoid those investments and risks, leveraging flexibility in sourcing and capitalizing on potential cost advantages in the short-term market.
An important historical example is John D. Rockefeller's Standard Oil, which consolidated much of the oil industry, gaining a competitive advantage through economies of scale and vertical integration. However, the oil drilling market today is competitive, with many suppliers and relatively free entry and exit, suggesting that companies have a range of strategic options available to them.
Moreover, oil companies must consider logistical factors, like the proximity of wells to refineries, as well as economic and operational constraints, like optimizing refinery throughput and the mix of crude oil with manufactured products to maximize profits. The oil industry is also subject to external factors, such as political stability in oil-producing regions, which can affect the availability and price of crude oil, further influencing a company's decision to drill or buy.
You just established an audit policy that enables account logon, logon, object access, and account management. however, when you look at the logs, you see a large number of audit filtering platform connection and audit filtering platform packet drop events that consume most of the security logs. what can you do to alleviate this problem?
Bell inc. took a physical inventory at the end of the year and determined that $780,000 of goods were on hand. in addition, bell, inc. determined that $60,000 of goods that were in transit that were shipped f.o.b. shipping point were actually received two days after the inventory count and that the company had $90,000 of goods out on consignment. what amount should bell report as inventory at the end of the year?
"The amount that Bell Inc. should report as inventory at the end of the year is $870,000.
To determine the correct amount to report as inventory, we need to consider the goods on hand, the goods in transit, and the goods out on consignment.
1. Goods on hand: This is the value of the inventory physically counted at the company's premises at the end of the year. According to the information provided, this amount is $780,000.
2. Goods in transit: These are goods that have been shipped but not yet received at the company's premises. The treatment of goods in transit depends on the shipping terms. In this case, the goods were shipped F.O.B. (Free On Board) shipping point, which means the ownership of the goods transfers to the buyer at the point of shipment, and the buyer (Bell Inc.) bears the risk of loss during transit. Since the goods were received two days after the inventory count, they should be included in the inventory as they were owned by Bell Inc. at the year-end. The value of these goods is $60,000.
3. Goods out on consignment: These are goods that are in the possession of another party (the consignee) but are still owned by the company (the consignor). Since Bell Inc. retains ownership of these goods, they should be included in the company's inventory. The value of the goods out on consignment is $90,000.
Adding these amounts together, we get:
Inventory at the end of the year = Goods on hand + Goods in transit + Goods out on consignment
Inventory at the end of the year = $780,000 + $60,000 + $90,000
Inventory at the end of the year = $870,000 + $60,000
Inventory at the end of the year = $930,000
However, upon reviewing the calculation, it appears there was an error. The correct calculation should not add the $60,000 of goods in transit twice. The correct inventory amount is obtained by adding the goods on hand, the goods in transit, and the goods out on consignment only once:
Inventory at the end of the year = Goods on hand + Goods in transit + Goods out on consignment
Inventory at the end of the year = $780,000 + $60,000 + $90,000
Inventory at the end of the year = $870,000
Therefore, Bell Inc. should report $870,000 as the inventory at the end of the year."
Which gramm-leach-bliley act rule requires federal bank regulatory agencies, the sec, and the ftc to issue security standards for the institutions that they regulate?
Which of the following would be a helpful tool to help nations, communities, and families compensate for scarcity while trying to get what they wanted and needed
What percentage of paul santiago’s gross income goes toward his dental coverage? santiago’s gross income is $1,423.00 and his dental is $55.85 which makes the gross income that goes towards his dental is?
Rick is in his early sixties. a few years ago he had planned to retire by the time he was sixty, but when the time came, he decided to continue working. in fact, not only is rick still working, he has no intention of retiring or setting a time when retirement might occur. rick's decision to keep working into his late sixties is unusual in today's labor market.