It is generally false that people only care about the face value of money; real income is more important because it reflects the purchasing power of that money. Nominal value can be misleading, especially in times of inflation, therefore real value gives a more accurate representation of wealth.
Explanation:When considering what matters more to people between the face value of money (or nominal income) and the real value (or real income), the answer depends on context but is generally false. People should typically pay more attention to their real income rather than nominal income because real income accounts for the purchasing power of money, which is affected by factors like inflation. For example, if you have a hundred-dollar bill, its nominal value is $100, but its real value could change if the prices of goods and services rise. If the Consumer Price Index (CPI) rises by 10%, your $100 can buy less than it did previously, making the real value effectively $90.
In today's world, where inflation can fluctuate, focusing on nominal income can be misleading because it doesn't reflect the true purchasing power of your money. This was also true in the 1970s, which experienced significant inflation; therefore, real income would have been more relevant than nominal income at that time too. The value of money as a medium of exchange highlights its role in obtaining goods and services, which is only meaningful when you consider its real value.
Other things being equal, a nation with democratic political institutions, is clearly more attractive as a place in which to do business than a nation that lacks democratic institutions.
The term __________ include(s) property such as buildings, land, farms, houses, factories, and cars, as well as other assets such as bank accounts, corporate stocks, bonds, and insurance policies.
Answer: wealth
Explanation:
The many natural waterways provided cheap movement of goods to market.
a. True
b. False
The wage a person requires before accepting a job is referred to as the ______ wage.
A major legal issue is whether private corrections officers have less ________ than state employees.
Because there are dozens of brands of tablet computers to choose from, the elasticity of demand for the tablet market is:
The elasticity of demand for the tablet market is elastic. It is because if there are dozen of tablets to choose from, then the demand will likely be in respond to the prices in which it won’t be inelastic as the prices that change won’t put an effect on them as the prices will likely be an effect as they will likely chose the brand that doesn’t cost that much.
What are the four broad characteristics used to classify retail stores?
Smaller nations may seek safe haven trading arrangements with larger nations when future access to that market seems uncertain. this was reason for the formation of
This was the reason for the formation of NAFTA.
NAFTA stands for North American Free
Trade Agreement and this agreement was signed by Canada, Mexico, and the United States
by developing a trilateral trade bloc in North America. The North American Free Trade agreement came into force on January 1, 1994.
The most efficient way to overcome the principal-agent problem in a firm is to:
Which law provided billions of dollars to cities and states to build wastewater facilities?
The answer is Clean Water Act. It is a U.S. federal law that controls the discharge of pollutants into the nation's surface waters. This act was initially known as the Federal Water Pollution Control Act. Also, this act is managed by the U.S. Environmental Protection Agency (EPA), which arranges water quality standards, handles implementation, and helps state and local governments advance their own pollution control plans. The federal government delivered billions of dollars in grants to back the building of sewage treatment facilities around the country. This act also necessitate businesses to apply for federal documents to discharge pollutants into water courses, as well as to decrease the amount of their discharges over time.
Fedex gives its employees significant discretion in taking action to solve customer problems. this is referred to as
Governments shoulder the computer-related ethical responsibilities of entire countries and cultures. these responsibilities generally fall into two categories:
Final answer:
The responsibility for providing all citizens with access to the Internet is a topic of debate. Some argue that it is the role of the U.S. government to ensure universal access, while others believe that gaining Internet access is an individual responsibility.
Explanation:
In today's digital age, the responsibility for providing all citizens with access to the Internet is a topic of debate. Some argue that it is the role of the U.S. government to ensure universal access, while others believe that gaining Internet access is an individual responsibility.
On the one hand, proponents of government responsibility argue that access to the Internet is now essential for participation in society, education, and employment. They believe that the government should provide the infrastructure and resources needed for universal access, similar to other public utilities like electricity and water.
On the other hand, those who believe that gaining Internet access is an individual responsibility argue that it is not the role of the government to provide such services. They contend that Internet access is a personal choice and responsibility, and individuals should bear the costs and efforts associated with gaining access.
Smartphone applications are developed by _____.
Emily is considered to be an excellent production manager. however, she tends to give attention only to those aspects of the organization that affect her own production operation and to not notice the concerns of other departments. from a perceptual perspective, emily is guilty of which perceptual distortion?
Of all the ways of handling the waste we produce, _____ is the best method.
The adjusting entry for the loss of inventory due to shoplifting, employee theft, or errors should be made to:
The adjust entry should be made to the inventory of the merchandise in which they need to base it on the physical count that will be of good hands to prevent of experiencing the loss of inventory, the employee theft, shop lifting and other more errors.
If you suspect a friend is suicidal what should you do
Lewis company has $25,000 in retained earnings, $40,000 in assets, and $11,000 in liabilities. how much is in common stock?
Final answer:
The amount in common stock for Lewis Company is calculated using the accounting equation. By subtracting liabilities and retained earnings from total assets ($40,000 - ($11,000 + $25,000)) we find that the common stock value is $4,000.
Explanation:
To determine the amount in common stock for Lewis Company, we should use the basic accounting equation:
Assets = Liabilities + Owners' Equity.
In this case, the owners' equity includes both retained earnings and common stock. Given the following:
Retained Earnings: $25,000
Assets: $40,000
Liabilities: $11,000
We can calculate common stock by rearranging the equation:
Common Stock = Assets - (Liabilities + Retained Earnings)
Common Stock = $40,000 - ($11,000 + $25,000) = $4,000.
Thus, the amount in common stock is $4,000.
Which policy involves working closely with allies to come up with a unified plan of action?
Multilateralism is the policy which involves working closely with allies to come up with a unified plan of action
What is Multilateralism?Relationships between groupings of three or more governments are organized through multilateralism. Beyond that fundamental quantitative feature, multilateralism is typically seen to have a number of qualitative components or guiding principles that define the nature of the agreement or organization. These principles include a commitment to diffuse reciprocity, an indivisibility of interests among participants, and a method of conflict resolution designed to enforce a specific type of behavior.
Although multilateralism has a lengthy history, it is most often linked to the post-World War II era, when the number of multilateral accords grew significantly under the direction of the United States. The World Trade Organization (WTO) and security are the two sectors where multilateralism is most exemplified by organizations NATO (North Atlantic Treaty Organization).
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The account used to close the temporary accounts (revenues and expenses) before the finish of the accounting cycle is
The Income Summary account is used to close temporary accounts in the accounting cycle.
The account used to close the temporary accounts (revenues and expenses) before the finish of the accounting cycle is the Income Summary account. This account serves as a clearing account to transfer the balances of revenue and expense accounts before closing them.
Dangerousness had been conceptualized as a ________ variable, while risk assessment is a ________ variable.
States that do not require background checks for guns
Gun control laws and the requirement for background checks vary by state in the U.S. However, despite differences in state laws, there has been a general movement towards improved background checking processes, demonstrated by the passing of the Fix-NICS Act in 2018.
Explanation:The laws concerning background checks for gun purchases vary from state to state in the United States. Due to the complex nature of the issue, states attempt to balance the concerns of different groups with varying views on gun control.
However, it is important to note that while federal law does not require private gun dealers to conduct background checks before selling firearms, in some states, laws have been passed requiring this.
Federal control laws were introduced in the 1930s in response to organized crime, with stricter laws coming into force in the 1960s following street protests. After the attempted assassination of President Ronald Reagan in the early 1980s, laws requiring background checks for prospective gun buyers were passed.
Despite varying regulations at the state level, there has been a trend towards improving the checking process at a federal level. For example, the Fix-NICS Act, which aimed to improve the background check process, passed the House and Senate and was signed into law in March 2018.
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Which of the following is true of both paying with a check and paying with a debit card?
A
The morgan company, a small furniture manufacturer, divides its organization into marketing, human resources, accounting, and production departments. this is an example of departmentalization by
Q 4.13: salaries and wages expense should have been accrued on december 31st, but the entry was not made. the result of this oversight is that
Final answer:
The oversight of not accruing salaries and wages expense on December 31st results in an understatement of expenses and liabilities, and an overstatement of net income, which misrepresents the company's financial performance and position. It violates the accrual basis of accounting and the matching principle, necessitating an adjusting entry to correct the financial statements.
Explanation:
If salaries and wages expense were not accrued on December 31st, it means that the company fails to recognize expenses that it has incurred during the period but has not yet paid. This oversight leads to an understatement of expenses and liabilities on the income statement and balance sheet, respectively. As a result, the company's net income would be overstated, and its financial position would appear healthier than it actually is. Moreover, this can lead to a misrepresentation of the company's financial performance and condition to stakeholders.
Accruing the salaries and wages ensures that the financial statements are presented fairly, following the accrual basis of accounting, which requires that revenues and expenses be recognized when they are earned or incurred, regardless of when the cash transactions occur. Failure to make this accrual entry violates the matching principle, which stipulates that expenses should be recorded in the same accounting period as the revenues they help to generate.
The correct course of action would be to make an adjusting entry as soon as the oversight is discovered to record the expense and the corresponding liability. This adjustment would increase the salaries and wages expense on the income statement and increase the accrued wages liability on the balance sheet.
__________ refers to a reduction in the proficiency needed to perform a specific job that leads to a corresponding reduction in the wages for that job. it has resulted from the introduction of computers and other technology.
Tyson has decided he wants to be trained and certified in cosmetology. which type of institution of higher learning could provide him with this?
he would want to go to a technical school.
When economists say that equilibrium is efficient, they mean that…?
Project management is the task of getting a project's activities done on time, within budget, and _____.
According to specifications. Project management is the task of getting a project's activities done on time, within budget, and According to specifications.
What is Project Management?Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget.
What is Budget?A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for a person, a group of people, a business, a government, or just about anything else that makes and spends
money.
A budget is a microeconomic concept that shows the trade-off made when one good is exchanged for another. In terms of the bottom line—or the end result of this trade-off—a surplus budget means profits are anticipated, a balanced budget means revenues are expected to equal expenses, and a deficit budget means expenses will exceed revenues.
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It is not necessary to cool down after exercising question 2 options:
a. True
b. False
The answer is FALSE. You should cool down since it’s not healthy for you is you don’t take a break. Your body is tired and needs a break. Also many people will tell you to take a cool down. And if you watch any videos, they will tell you to take a cool down. So the answer is false for many reasons and facts on the subject :)