For a Profit Organization:
1. Select the best business structure which favors you in taxes and protect. Such as corporation, limited liability company, sole proprietorship, general partnership, limited partnerships or a professional incorporation.
2. Decide the name you want to use to advertise your business.
3. Register company name with the state, county and the federal if applicable.
4. Check licensing requirements with the city county, city, state and federal.
5. Open a bank account
6. Advertising and Marketing
For a Non Profit Organization:
1. There are two types of non profit organizations religious and good cause.
2. It has to be registered wither with the state or county, depending upon the structure and the state you want to incorporate.
3. Apply with the federal to obtain a tax exempt status, so that your donors can claim donations on their tax returns.
4. Open a bank account
5. Delegate duties what you have mentioned in the article you submitted to the Internal Revenue Service.
Suppose that smoking creates a negative externality. If the government does not interfere in the cigarette market, then a. the equilibrium quantity of cigarettes smoked will equal the socially optimal quantity of cigarettes smoked. b. the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked. c. the equilibrium quantity of cigarettes smoked will be less than the socially optimal quantity of cigarettes smoked. d. There is not enough information to answer the question.
Answer:
b. the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked.
Explanation:
A negative externality occurs when the costs of economic activities to third parties not involved in economic activities are greater than the benefits.
Negative externality are usually overproduced in the economy. so, the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked.
When Nokia used a global campaign to promote their new product (Nokia 900 Communicator) that combined phone, fax, e-mail, and Internet functions with the slogan "Everything. Everywhere," they were appealing to a(n) ______________________ segment.
Answer:
Universal segment
Explanation:
Universal segment is a method used in marketing to target a broad range of customers. The aim is to attract a larger number of people to purchase the product.
segmentation is the way a product is tailored to meet the needs of target customers.
in the given scenario Nokia used a global campaign to promote their new product (Nokia 900 Communicator) that combined phone, fax, e-mail, and Internet functions. This has a broad range of users for these features.
The slogan of this product was also "Everything. Everywhere".
Select all that apply GAAP and IFRS rules ______. require that the same method be used for both internal and external segment reporting create incentives for companies to use the contribution margin format in segment reporting require segmented financial data be included in annual reports create problems in reconciling internal and external reports
Answer:
The correct options are "A, C, and D".
Explanation:
GAAP becomes regarded as a relatively 'rules-based' management framework, seems to be the accounting technique used throughout the United StatesIFRS becomes quite 'principles-based', although this would be the accounting framework used in more than 110 countries throughout the globe.These allow the same approach being used for international and domestic section reporting, which generate reconciliation issues.
Galena is a new agent for a financial services company. She decides to join the local chamber of commerce, the local association of businesswomen, and the local chapter of the United Way organization. Galena is attempting to use
Sunland Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2017, the company’s Cash account per its general ledger showed a balance of $6,823.90. The bank statement from Emporia State Bank on that date showed the following balance.
EMPORIA STATE BANK
Checks and Debits Deposits and Credits Daily Balance
5-317,053.00
A comparison of the details on the bank statement with the details in the Cash account revealed the following facts
1. The statement included a debit memo of $57.00 for the printing of additional company checks
2. Cash sales of $900.15 on May 12 were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $950.15. The bank credited Sunland Company for the correct amount
3. Outstanding checks at May 31 totaled $285 25, and deposits in transit were $1.897.15.
4. On May 18, the company issued check No. 1181 for $684.00 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Sunland Company for $648.00
5. A 52.792.00 note receivable was collected by the bank for Sunland Company on May 31 through electronic funds transfer
6. Included with the canceled checks was a check issued by Tomins Company to C. Pernod for $343.00 that was incorrectly charged to Sunland Company by the bank
7. On May 31, the bank statement showed an NSF charge of $465.00 for a check issued by Sara Ballard, a customer to Sunland Company on account
Prepare the bank reconciliation at May 31, 2017. (List items that increase balance as per bank & books first. Round answers to 2 decimal places, eg. 52.75)
Answer:
Bank account reconciliation:
Bank account balance $7,053
+ Deposits in transit $1,897.15
+ Check charged by error $343
- Outstanding checks ($285.25)
Reconciled bank account $9,007.90
Cash account reconciliation:
Cash account balance $6,823.90
+ Note receivable collected by bank $2,792
- Bank fees for printing checks ($57)
- Error on deposit slip ($50)
- Error on recording check ($36)
- NSF check ($465)
Reconciled cash account $9,007.90
Marcus is a self-employed marketing consultant. He is good at helping his clients with their marketing challenges; however, he is not keeping up with billing his clients regularly or keeping track of his hours. He feels like the time he spends on these functions is taking him away from activities where he has more talent and ability. His small business needs to bill clients quickly to keep the business running. What would you recommend Marcus do?
Answer:
To outsource the accounting function to another firm.
Explanation:
Outsourcing: Outsourcing refers to a process in which the business is able to perform its work with the help of an outside firm that means they provide the work to the other firm so that the company could able to save the cost and time
Since in the question it is given that Marcus spending much time and away him from that work where he has more talent and ability. So to fulfill the business needs the outsourcing option is the best recommended.
Tesco was forced to restate its earnings for the first half of 2014 to 431 million USD because senior managers in the UK food business had booked income early and delayed the booking of costs in order to improve appearances of financial performance. This scandal results from ____________ and __________.
Answer:
Poor governance and Control
Explanation: The overstatement of profit made by TESCO, a renowned grocery chain in the U. K could largely be traced to the poor internal structure governing the setup which demonstrated high level of ineptitude in the control and anchoring the of the firm's activities. In a bid to increase profit and market standing, TESCO embarked on an aggressive financial strategy whereby income was doctored and suppliers tricked into making payment in other to up the company's earning figure. This act explains how disjointed the upholding structure within the company was at the time.
When the government pursued a "tight money" policy during the Great Depression, it caused aggregate demand to decrease because it: Choose one: A. reduced consumer spending and investment spending. B. caused tax rates to decrease. C. led to very high rates of inflation, which eroded household spending. D. caused a rapid decline in exports to other countries. E. led to an increase in
Answer:
A). Reduced consumer spending and investment spending.
Explanation:
'Tight money' policy is elucidated as the contractionary monetary policy adopted by central banks to decrease the money supply in the market which helps in reducing consumer spending and curb inflation in the economy.
As per the question, when the government adopted this 'tight money' policy during the Great Depression, it led to 'a reduction in consumer spending as well as a reduction in spending on investment.' It led to the worsening downturn of the economy as this steep fall in consumer spending decreased the demand significantly, caused major unemployment, and led millions of investors to take their money back, and eventually, it led to the longest-running recession in the modern history. Thus, option A is the correct answer.
Trina's property is listed with Avalon Homes. The market is a little slow, and Trina's listing is a high-end home, where sales are even slower. She's had several showings, but no offers. The term of the listing agreement is nearly over. What happens when the termination date is reached?
Answer: Listing expires and terminated
Explanation: In the scenario above, Avalon homes only serves to aid the sale of Trina's property and as such will not be held liable for any offense if the property isn't sold within the listing period. Avalon homes isnt responsible for either the slow nature of market at the time or the fact that Trina's property belongs to the high end category which often takes even more time to get a buyer for. Therefore, once the contract period of Trina's listing is reached, the listing expires and it's terminated unless another listing contract is struck between both parties.
Shelley has been hired as a marketing specialist at a large, international firm. On Shelley's first day of work, she attends an orientation session. Which of the following is LEAST likely to be addressed during Shelley's orientation program?
A) organizational structure
B) company policies and rules
C) compensation and reward system
D) daily and weekly task requirements
Answer:
D) daily and weekly task requirements.
Explanation:
In this scenario, Shelley has been hired as a marketing specialist at a large, international firm. On Shelley's first day of work, she attends an orientation session.
In the orientation session, what new employees are most likely to be briefed or talked to about is the organizational structure, company policies and rules and compensation and reward system. In human resources management, it is important to get new employees acquainted with the essential informations, rules, regulations, and guidelines that exist in an organization.
Hence, daily and weekly task is least likely to be addressed during Shelley's orientation program because she's not likely to commence her duties on the first day and her responsibilities or roles would be introduced to her by her functional or line manager.
A master budget ________. A. is only prepared for manufacturers as they are the only type of company with material purchases and work−in−process accounts. B. improves companies' market capitalization and evolves from both the investing and financing decisions C. is another name given to the financial budget D. is the initial plan of what the company intends to accomplish in the period and evolves from both the operating and financing decisions
Answer:
D. is the initial plan of what the company intends to accomplish in the period and evolves from both the operating and financing decisions.
Explanation:
High and unexpected inflation has a greater cost Group of answer choices for savers in low income tax brackets than for savers in high income tax brackets. for those who hold a little money than for those who hold a lot of money. for those whose wages increase by as much as inflation than those who are paid a fixed nominal wage. for those who save than for those who borrow.
Answer:
for those who save than for those who borrow.
Explanation:
Inflation is a persistent rise in general price levels
inflation is unexpected if it is unanticipated and not factored in to factors such as interest rate.
savers are at a disadvantage when there is high and unexpected inflation because the value of savings would fall fast.
while borrowers are at an advantage because they repay less in value than what what they borrowed
Mountain Gear has been using the same machines to make its name brand clothing for the last five years. A cost efficiency consultant has suggested that production costs may be reduced by purchasing more technologically advanced machinery. The old machines cost the company $360,000. The old machines presently have a book value of $136,000 and a market value of $28,000. They are expected to have a five-year remaining life and zero salvage value. The new machines would cost the company $260,000 and have operating expenses of $19,000 a year. The new machines are expected to have a five-year useful life and no salvage value. The operating expenses associated with the old machines are $46,000 a year. The new machines are expected to increase quality, justifying a price increase, and thereby increasing sales revenue by $26,000 a year. Select the true statement.
A. The company will be $44,000 better off over the 5-year period if it replaces the old equipment.
B. The company will be $72,000 better off over the 5-year period if it keeps the old equipment.
C. The company will be $33,000 better off over the 5-year period if it replaces the old equipment.
D. The company will be $28,000 better off over the 5-year period if it replaces the old equipment.
Answer:
C. The company will be $33,000 better off over the 5-year period if it replaces the old equipment.
Explanation:
keep old machine:
operating expenses = $46,000 x 5 = $230,000
new machine:
purchase cost $260,000 - $28,000 = $232,000
operating expenses = $19,000 x 5 = $95,000
increase in revenue $26,000 x 5 = $130,000
if new machine is purchased, operating costs decrease by $135,000, revenues increase by $130,000, but investment outflows increase by $232,000 ⇒ $135,000 + $130,000 - $232,000 = $33,000
A 70-year-old male pays $79.79 per month for his term life policy while an 80-year-old pays $349.30 per month. What is the percent of increase in premium costs from age 70 to age 80?
Answer:
337%
Explanation:
The percent of increase in premium costs from age 70 to age 80 is 337.77%.
Percentage based problem:What information do we have?
Amount paid in 70's age = $79.79
Amount paid in 80's age = $349.30
Extra amount paid in 80's age = $349.30 - $79.79
Extra amount paid in 80's age = $269.51
Percentage increase = [269.51 / 79.79]100
Percentage increase = [3.377]100
Percentage increase = 337.77% (Approx.)
Find out more information about 'Percentage'.
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King Construction Company receives weekly shipments of lumber, vinyl siding, and stone slabs from one of its materials suppliers. Since King Construction Company is a regular customer, the supplier has made an agreement to give the company discounts if it pays its bill early. This is an example of
Answer:
Trade credit
Explanation:
The trade-credit refers to the increase in credit by the suppliers. There is an option to purchase now and pay later. The company could take order with respect to material delivery, equipment on credit instead of paying in cash on an immediate basis. This can be done by using the trade credit
Therefore according to the question, since it is mentioned that there is an agreement that if pay the bill on early so the company provides the discount
So, this is an example of Trade credit
This is a Trade Credit illustration.
A trade credit agreement is a contract that allows you to buy products and services without having to pay for them right away. The buyer and the vendor come to an agreement, and the seller delivers the goods and services purchased. It is more beneficial to the expansion of a firm.
According to this knowledge, King Construction Firm is a regular customer, and there is an understanding that if the bill is paid early, the company will give a discount.
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Which subjects does the Aspire test assess?
Answer:
five subject areas: English, mathematics, reading, science, and writing
List the advantages and disadvantages of a Small Business:
Answer:
Kindly check explanation
Explanation:
Small businesses may be defined based on various criteria ranginging from the size of running capital, number of employees and even customer base. What is obvious is that most small business require very little capital, limited number of employees and small market size. Small businesses offers the following advantages :
Financial liberty which affords it's doers the ability to cater for themselves or buttress on their initial EARNING.
INCREASED RESPONSIBILITY : Business owners take absolute charge of business decisions thereby broadening their scope and offering more independence and greater control.
Another advantages of having a small business is the fact that efforts and commitment put into the sustenance and growth of the business will be duly reaped by the owner. Rather than having to work for someone else to earn a greater portion of the return.
However, it also has its disadvantages which ranges from :
Exposure to financial risk arising from business collapse such that one has to deal with the burden alone.
The effort put in to keep business aloft may become overwhelming due to lack of adequate employees which may result in health impairment.
Herb has $20,000 in an interest-bearing time deposit with the Applebottom Bank and Trust Company. While earning a relatively attractive rate of interest, Herb had to agree to not withdraw any of the funds until the end of a three-year period. Herb's investment represents a(n):
Answer: Certificate of deposit
Explanation: Herbs investment with Applebottom Bank and Trust Company represents a certificate of deposit which differs from the usual savings deposit due to the the high interest it pays and the fact that it is time bound. The depositor enters into an agreement with the financial institution issuing the certificate of deposit and a fixed term of deposit is agreed with a better interest than usually attached to other deposit accounts. This restricts the depositor from being able to withdraw any amount from his / her account before the stipulated date.
The You Design, We Build Company makes custom furniture of all kinds. The firm has evolved into a big business due to quality and innovative work. Recently, top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and to list negative occurrences that supervisors observed. Top management is essentially conducting a(n)
Answer:
and thats how manfi works123
Explanation:
:hand emoji:
12313
what is a good online website for a highschool student to do 40 hours volunteering?
there are many websites to volunteer
I've found some websites from the given list
1. United Nation Volunteers
2. Catchafire
3. Smithsonian Digital Volunteers
4. Amnesty Decoders
5. Translators Without Borders
6. Crisis Text line
7. Zooniverse
8. Project Gutenberg
9. Dosomething.org
Suppose the MPC is 0.60. Assume there are no crowding out or investment accelerator effects. If the government increases expenditures by $200 billion, then by how much does aggregate demand shift to the right
Answer:
$500 billion
Explanation:
we must first calculate the economy's multiplier = 1 / MPS
marginal propensity to save (MPS) = 1 - MPC = 1 - 0.6 = 0.4
economy's multiplier = 1 / 0.4 = 2.5
this means that if the government increases expenditures by $200 billion, the the economy will grow (rightward shift) by $200 x 2.5 = $500 billion
Measuring employment, unemployment, and labor force participation
Consider a small economy composed of six people: Dmitri, Frances, Jake, Latasha, Rosa, and Nick. Each person's employment status is described in the following table.
Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population.
Person
Dmitri is a 70-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda.__________
Frances is a 26-year-old recent college graduate. She did not work for pay last week, but she had two job interviews.________
Jake is a 43-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago.__________
Rosa is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor.__________
Nick is a 20-year-old American Studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama._________
Latasha is a 12-year-old student at West Valley Middle School. She babysits her younger sister and does other chores, so her parents give her an allowance of $30 per week._______
Answer and Explanation:
The classification is as follows
a. The Dmirti is considered to be employed as she is working part-time
b.France is considered to be unemployed as currently he hasn't had a job he is still looking for a job
c. Jake is not in the labor force as he is so discouraged and due to which he gave up for job search
d. Rosa is considered to be unemployed as currently she has not have any job and currently she is looking for a job
e. Nick is to be considered as an employed as he is currently working
f. Latasha is to be considered in not in the adult population as she is just 12 year old student
Darwin Inc. sells a particular textbook for $20. Variable expenses are $14 per book. At the current volume of 50,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:
Answer:
Fixed costs= $300,000
Explanation:
Giving the following information:
Selling price per unit= $20
Variable expenses= $14
Break-even point in units= 50,000
To calculate the fixed costs, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
50,000= fixed costs / (20 - 14)
50,000*6= fixed costs
Fixed costs= $300,000
Which is true? Group of answer choices If data is not available, management cannot measure analysts’ performance. The best companies typically place an emphasis on one extremely important goal. Team performance is only as good as the performance of the analysts on the team. All of the above.
Answer: If data is not available, management cannot measure analysts’ performance.
Explanation: Analysts render help to businesses by gatheriby external and internal data and communicating this data clearly to all stakeholders, facilitators and partners Invokv in the organizatio. An analyst main role is to principally interprete data, formulate reports and make recommendations based upon the research findings. Without this data the management can’t judge the performance of an analyst.
Assume a fixed cost for a process of $120,000. The variable cost to produce each unit of product is $35, and the selling price for the finished product is $50. Which of the following is the number of units that has to be produced and sold to break even?
a. 790 units
b. 1,000 units
c. 500 units
d. 900 units
e. 667 units
Answer:
8000 units
Explanation:
Given the following :
Fixed cost = $120,000
Variable cost per unit of product = $35
Selling price per unit of product = $50
Number of units that has to be sold to break even:
Break even point (unit) is the ratio of the fixed cost and the unit contribution margin of a product.
Unit contribution margin = selling price - variable cost
Unit contribution margin = $50 - $35 = $15
Break-even point (unit) = $120,000 / $15
Break-even point (unit) = 8000 units
A multiple-channel queuing system with a Poisson arrival rate and exponential service time has an average arrival rate of four customers per hour and an average service time of 18 minutes per customer. The minimum number of servers required to avoid an overloaded system is
Answer:
1.2
Explanation:
The computation of the minimum number of servers required to avoid an overloaded system is shown below:-
Average service time = Average service time ÷ number of minutes in a hour
18 min = 18 ÷ 60 per hr
= 0.3 hr per customer
Now for four customers, it would be
min servers = 4 × 0.3
= 1.2
So, the correct answer is min servers = 2 as servers cant be in fractions
Therefore we have applied the above formula.
Consider the following payoff matrix facing two criminals. A: Confess A: Not Confess B: Confess A: 20yrs, B: 20yrs A: 50yrs, B: 2yrs B: Not Confess A: 2yrs, B: 50yrs A: 10yrs, B: 10yrs Their options are to confess or not to confess. Given this information:
Answer:
Both A and B have dominant strategies
Explanation:
Consider 2 players "A" and "B" in the specified game. Here, row player is "B" and column player is "A." If "B" chooses "Confess" then "Not Confess" is the optimal choice for "A," because 50 > 20, likewise if "B" chooses "Not Confess," then "Not Confess" is the optimal choice for "A," as 10 > 2. Therefore, we can see that the "Not Confess" is the dominant "A" strategy Similarly we can prove that the prevailing technique for "B" is "Not Confess" too.
Hence, we can see that both player 's approach is successful and from the above explanation, the 2nd option is correct.
An American company is in a joint venture with an overseas Middle East company. The U.S. managers are particular about time management and appointments for conference calls and meetings. However, their overseas Middle Eastern counterparts are not conditioned the same way and don’t necessarily adhere to schedules. This variation in time management is an aspect of their _____ environment.
Answer:
This variation in time management is an aspect of their _cultural____ environment.
Explanation:
The working environment of countries differ. This environment also dictates approaches to issues. For example, this Middle Eastern company operates in a cultural environment that does not take issues with time management serious unlike the American counterpart. The prevalent cultural environment may not be easy to overcome. For this reason, companies engaging in international relationships should factor in this consideration of differences in culture whenever they venture outside.
This variation in time management is an aspect of their cultural environment.
The following information should be considered:
The cultural environment is the important reason for the Saudi Arabia delegation to not adhere to the schedule. This is due to the USA and Saudi Arabia contains different time zones and the Saudi delegates have different cultures and also have working environment unlike USA.
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Calculate the latest start for Task B if its predecessor, Task A, finishes on day 3, its succeeding activity, Task E, has a latest start of day 7, and the duration of Task B is 2 days. Select one: a. day 7 b. day 5 c. Cannot be calculated based upon information given. d. day 3
Answer:
Day 5
Explanation:
Calculation of the latest start
Using this formula
Latest start = Activity's latest finish time-Activity's estimated duration
Where,
Latest Finish time= Day 7
Estimated Duration= 2 days
Let plug in the formula
Latest start= Day 7- 2 days
Latest start = Day 5
Therefore the latest start for Task B will be Day 5
Claudia and Dayson are upper-level managers working for the same company, but they are located in different countries and come from different cultures. The company is implementing a new accounting process, so Jorge, the company CEO, invites Claudia, Dayson, and a few other managers to join him on a video conference. During the video conference, Claudia asks Jorge if the company will be creating a temporary help desk to ease the transition. Jorge replies, "I'll think about it and get back to you later." To Claudia, this means he will honestly consider the possibility and will send an email with his decision. To Dayson, Jorge's expression during this statement indicates that he is simply maintaining social harmony and that a help desk will not be created. Which of the following is most likely true about Claudia's and Dayson's cultures?
A) Claudia is from a high-context culture, and Dayson is from a low-context culture.
B) Dayson is from a high-context culture, and Claudia is from a low-context culture.
C) Both Claudia and Dayson are from high-context cultures.
D) Both Claudia and Dayson are from low-context cultures.
The correct answer is B) ) Dayson is from a high-context culture, and Claudia is from a low-context culture.
Explanation:
The term "high-context culture" is used to refer to cultures in which implicit communication, nonverbal elements, and context are important factors of communication. This implies many words and expressions in these cultures do not have a literal meaning. According to this, it is likely Dayson is from a high-context culture, considering he focused on the implicit message in Jorge's words rather than considering the message was literal.
On the other hand, in "low-context culture" elements such as implicit meaning or context are not frequently used, this means, most communication is literal and explicit. This shows Claudia is from a low-context culture because rather than thinking Jorge's answer was just a formalism or irony, she interpreted the message literally.