Answer: Employment-related practices liability insurance
Explanation:
Employment practices liability is a law that deals with wrongful termination, discrimination, sexual harrassment issues, invasion of privacy, breach of contracg, work time violations.
This rule was introduced to help employees to be able to have a say when being abused by their employers and also to help employees not to ride on employees but respect their choice of working for them, failure to do so on the side of each party would draw this law into action.
The legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond ______. This document describes the number of bonds authorized, their par value, and the contract interest rate. agreement document indenture article
Answer: indenture
Explanation:
The bond indenture is a legal contract that or covers a purchase obligation or a debt.
Therefore, the legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond indenture. This document describes the number of bonds authorized, their par value, and the contract interest rate.
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $19.2 million in iTunes gift cards in November, and customers redeem $12.2 million of the gift cards in December.
Required:
1. Record the receipt of cash for gift cards.
2. Record the revenue earned from redemption of gift cards.
3. What is the ending balance in Deferred revenue?
Answer and Explanation:
The Journal entries are shown below:-
1. Cash Dr, $19,200,000
To Deferred revenue $19,800,000
(Being receipt of cash for gift cards is recorded)
2. Deferred revenue Dr, $12,200,000
To Sales revenue $12,800,000
(Being revenue recognized from the redemption of gift cards is recorded)
3. The computation of ending balance in Deferred revenue is shown below:-
Ending balance in Deferred revenue = Sold apples - Redeem amount of the gifts
= $19,200,000 - $12,200,000
= $7,000,000
GeoMines Corp. has the following costs related to a mine it acquired this year. Cost of land and natural resource rights $100,000 Development cost before production begins 20,000 Future cost to restore land after mining 15,000 Equipment used for mining 80,000 Exploration and drilling costs 30,000 What amount should be included as an asset for natural resources
Answer:
$165,000
Explanation:
The cost of an asset is derived by considering every cost related to the purchase of an item and putting the asset to use, These costs include the original purchase price , site preparation ,transportation ,installation and testing , warranties and the future cost of restoring dismantling and restoring the land at the completion of its useful life time.
Looking at the given scenario , the related cost of the natural resources as an asset are the cost of the land and the natural resources , development cost ,future cost of land restoration and the cost of exploration and drilling.
The depreciation value of the equipment used for mining will be charged as an expense for the operation year.
Cost of natural resources = 100,000+20,000+15,000+30,000=165,000
Margot's team uses an online calendar that links everyone's schedule and helps the team efficiently plan meetings, track RSVPs, and share follow-up information with all attendees. This demonstrates the use of _______ to enhance communication. groupware information richness all-channel networking groupthink social networking
Answer:
groupware
Explanation:
Groupware refers to the application software that helps people to collaborate on common work and to achieve the targets. These applications help people working from distant places who join together to fulfill a common goal. Sharing calendars, emails, and electronic meetings are some of the services included in groupware.
In the above excerpt, the team of Margot is using the groupware to enhance communication among the team members by making the use of online calendar.
Mauve Inc. purchased a global data collection and management system that provides detailed information about each of its customers. Using this information, Mauve is able to identify the individual needs of all its customers and provide tailored products and services. This scenario illustrates the concept of:
Answer:
Mass customization
Explanation:
Mass customization can be defined as the way in which a company or an individual produce large or mass amount of product that meet their customers wants and needs and this is happen when the company or the organisation identify the individual needs of all their customers and provide tailored products and services thereby offering the customers a range of features they can either add or subtract.
Therefore In MASS CUSTOMIZATION it is important for the company or organisation to focus on developing variety of unique mass products that will satisfy their customers needs and by doing this it will lead to higher or greater retention of their customers reason been that the products have options which are tailored to personal tastes of the customers .
You're in the lunchroom at work one day, 3 weeks into the execution of a project you are managing, and your project sponsor approaches you to see if you can squeeze in another feature on his project. This is an example of...
Answer:
scope creep
Explanation:
Scope creep refers to the managing of the project with respect to the changes made in the scope of the project after starting of a project. it can arise when the scope of the project is not defined clearly that result in harmful
Therefore as per the situation, the project sponsor reached you with a motive whether you compressed another attribute in the project
So this example represent the scope creep
Lower inventory levels Group of answer choices make processes less dependent on each other while revealing bottlenecks more quickly make processes more dependent on each other while keeping bottlenecks hidden make process less dependent on each other while keeping bottlenecks hidden make processes more dependent on each other while revealing bottlenecks more quickly
Answer:
The correct answer will be "more dependent on each other while revealing bottlenecks more quickly".
Explanation:
Maintaining low inventory rates seems to be a common goal for businesses around logistics as well as inventory. Inventory needs supervision and is responsible for the costs.A traditional inventory manager could use the level of inventory including the sale of products and services to assess the best period whether to produce more, whether they control the manufacturing of a supplier, as well as to acquire more when the commodity is kept as stock in something like a department store.When supplies ordered for use in an activity accounted for in the General Fund of a government are received at an actual price which is less than the estimated price on the purchase order, the Encumbrance Control account is:
Answer: Credited for the original estimated price for the supplies.
Explanation:
The encumbrance account is a budgetary account and encumbrance refers to the funds that are restricted in an account and are typically reserved for a specific purpose.
When the supplies that are ordered for use in an activity accounted for in the General Fund of a government are received at an actual price which is less than the estimated price on the purchase order, the encumbrance control account will have to be credited using the original price that was estimated for the supplies.
Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. Overhead Total Direct Labor Hours DLH per Product A B Painting Dept. $241,200 11,300 2 11 Finishing Dept. 60,900 11,800 3 3 Totals $302,100 23,100 5 14 The single plantwide factory overhead rate for Adirondack Marketing Inc. is
Answer:
Predetermined manufacturing overhead rate= $17,115.80
Explanation:
Giving the following information:
Overhead Total Direct Labor Hours DLH per Product A B
Painting Dept. $241,200 11,300 2 11
Finishing Dept. 60,900 11,800 3 3
Totals $302,100 23,100 5 14
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Total direct labor hours= 5 + 14= 19
Total overhead= 302,100 + 23,100= $325,200
Predetermined manufacturing overhead rate= 325,200/19
Predetermined manufacturing overhead rate= $17,115.80
Jen is investing in a partnership with Lisa. Jen contributes equipment that originally cost $65,000, has accumulated depreciation of $20,000, thus giving it a book value of $45,000, and has a fair value of $52,000. The entry to record Jen’s initial contribution to the partnership includes a
Answer:
Debit to equipment for $52000
Explanation:
Based on the information given we were told that Jen had a fair value of the amount of $52,000. This means that the Journal entry to record the initial contribution to the partnership will tend to include a DEBIT TO EQUIPMENT FOR THE AMOUNT OF $52,000 which is the fair value amount.
Debit to equipment for $52,000
Assume that Fred and Paul sign a contract in which Fred agrees to paint Paul's house in exchange for $500. If Fred and Paul agree one week later that Paul will pay Fred's daughter, Emma, the $500 directly as a birthday gift and they notify Emma of this fact, then Emma is a. intended beneficiary. b. assignee. c. incidental beneficiary. d. a delegatee. e. a beneficiary.
Answer:
option c
Explanation:
In simple words, An incidental recipient refers to the third party benefiting from a deal with two certain parties, however it is never meant to support a third party. Accordingly, that third party has no legal protection underneath the deal in the agreement. Thus, from the above we can conclude that the correct option is C.
2. Demand for Riana's product in the U.S. is inconsistent. When orders are slow, she sometimes needs to shut down production to help control inventory levels. One way Riana could improve her firm's situation is to
Answer:
One very feasible solution to Rianas business challenge is to explore and take advantage of other markets outside of the United States of America.
Explanation:
In other words, she needs to come up with a business strategy that includes exportation of her products.
The target market(s) must be carefully analyzed for ease of entry, competition, etc. She must be able to accurately distinguish her products in those markets.
When entering new terrains as an exporter, it is usually better to look for markets with higher:
Ease of entryEase of doing businessEase of communication etc.Desk research alone will not suffice. Riana must try to visit the country she is planning to expand into. Next, her pricing, product positioning etc must be flawless. It will help Riana to also seek help from a business growth consultant who knows the new terrain very well.
Cheers!
ABO purchased a truck at the beginning of 2018 for $140,000. They sold the truck at the end of 2019 for $95,000. If the expected useful life of the truck was six years with a residual value of $20,000 and ABO uses straight-line depreciation, which of the following is true regarding the entry to record the sale of the truck?
A. Credit Gain $5,000
B. Debit Loss $5,000.
C. Credit Accumulated Depreciation $40,000.
D. Credit Equipment $100.000.
Answer:
Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.
Explanation:
First determine the Accumulated depreciation on the Truck
Depreciation Expense = Cost - Residual Value / Estimated Useful years
= ($140,000 - $20,000) / 6
= $20,000
Accumulated Depreciation :
2018 : $20,000
2019 : $20,000
Total : $40,000
Then Process the Sales journal to determine the profit or loss on sale of Truck as follows :
Accumulated Depreciation $40,000 (debit)
Cash $95,000 (debit)
Profit and Loss $5,000(debit)
Cost : Truck $140,000 (credit)
Conclusion :
Therefore, the entry to record the sale of the truck involves B. Debit Loss $5,000.
On January 1, Song Corp. receives a $100,000, two-year, note receivable from a customer in exchange for payment of goods. The note has a 12% effective interest rate. On January 1, when Song receives the note from the customer, Song will record (Select all that apply.) Note: you must use present value computations to answer this questions.
Textbook Answer
Note Receivable (debit) 100,000
Discount on Note Receivable (credit) 20,281
Sales Revenue (credit) 79,719
I know that Sales Revenue is the difference between the Note Receivable and the Discount on Note Receivable.
HOW DO YOU FIND THE DISCOUNT ON NOTE RECEIVABLE FOR THIS QUESTION USING THE TVM BUTTONS ON A FINANCIAL CALCULATOR? Please provide the exact input and then the reason why.
N = _______
I/Y = _________
PV = _________
PMT = _________
FV = _________
Answer:
Song Corp
1. Correct Journal Entries for the transaction:
Debit Note Receivable $100,000
Credit Interest on Note Receivable $20,281
Credit Sales Revenue $79,719
To record the sale of goods with a 12% note receivable.
2. Explanation of how the discount (Interest) on the Note Receivable was found:
The first button to select on the Calculator is the "Starting Principal," because this is the variable of interest.
The inputs on the TVM buttons were the $100,000 on the FV, $0 on the PMT, 2 on the N, and 12 on the I/Y buttons. These inputs then calculated the value of PV as $79,719 and Interest as $20,281 approximately when I pressed the "Calculate" button.
N = Number of Periods = 2 years
I/Y = Interest Rate = Effective Interest Rate of 12%
PV = Calculated Value (Present Value of the sales transaction = $79,719)
PMT = Periodic Monthly Payments made to settle the debt = $0.
FV = Future value of the note = $100,000
Total Interest = $20,281
Explanation:
The present value of the sales transaction, which Song Corp. contracted with a customer is $79,719. This is the amount that would have the future value of $100,000.00 for the note receivable from the customer, with an effective interest rate of 12% per annum after 2 years.
The difference between the future value of $100,000 and the present value of $79,719 represents the interest cost, which the customer bears for the note receivable.
However, it is important to stress that this difference is not described as a "Discount on Note Receivable" as depicted in this question, but as an "Interest on Note Receivable." A discount on note receivable would have had a debit balance.
2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $30. Product R accounts for 60 percent of the firm's sales, while S accounts for 40 percent. The firm's fixed costs are $4 million annually. Calculate the firm's break-even point in dollars.
Answer:
$6896551.7
Explanation:
Given the following :
Product R:
Selling price = $20
Variable cost = $6
Product S:
Selling price = $50
Variable cost = $30
Firm's fixed cost = $4, 000,000
Break-even point dollars = (Fixed cost /Contribution margin ratio)
Contribution margin : selling price - variable cost
Product R: $(20 - 6) = $14
Contribution margin ratio = ($14/$20) * 60% = 0.42
Product S: $(50 - 30) = $20
Contribution margin ratio = ($20/$50) * 40% = 0.16
Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58
Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)
= $4,000,000/0.58
= $6896551.7
On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the order to Designer Parts Company. Under the UETA, Carmela’s typed name qualifies as Group of answer choices
Answer:
A signature.
Explanation:
On behalf of Bobble Head Manufacturing Company, Carmela types her name at the bottom of an e-mail purchase order and submits the order to Designer Parts Company. Under the UETA, Carmela’s typed name qualifies as signature.
Answer the question on the basis of the following information. A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. Refer to the given information. The marginal revenue product of the second worker is:
Answer: $24
Explanation:
Given the following :
Total product for first worker hired = 24
Total product when two workers are hired = 32
Product price = $3 per unit
The marginal revenue product of a worker is equal to the product of the marginal product of labor (MPL) and the marginal revenue (MR) of output.
Marginal revenue product of second worker:
The marginal product of labor :
Change in output when additional labor is added
Therefore, change in product when worker increases from one to two workers ;
32 - 24 = 8 products
Marginal product of labor * product price
8 * $3 = $24
If the predetermined overhead allocation rate is 250% of direct labor cost and the Finishing Department's direct labor cost for the reporting period is $20,000, the following entry would record the allocation of overhead to the products processed in this department:
Work in Process Inventory, Finishing Dept 50,000 Factory Overhead 50,000
a) True
b) False
Answer:
a) True
Explanation:
The following entry would be recorded to allocate the overhead to the products processed
Date Account&Explanation Debit Credit
Work in progress, Finishing department $50,000
($20,000 * 250%)
Factory Overhead $50,000
(To allocate the overhead)
Explanation: Work in process account would be debited to accumulate the manufacturing overhead to the cost of the product
And, factory overhead would be credited to charge such expenses to the product
Conclusion: The given journal entry is correct.
Hung and Suzanne’s company has instituted a new volunteering program where more experienced employees mentor the youngest employees, many of whom are fresh from college or internships. Hung signs up, but Suzanne does not. A few months later, how does Hung likely feel about having become a volunteer?
Answer: E) She feels more engaged in the company and in her primary role.
had to complete the question.
A) She enjoys it, but her colleagues think she is kissing up to the management.
B) She feels resentful, since she is essentially working for free.
C) She likes it but feels her mentees take advantage of her time, becoming a distraction.
D) She likes it but finds the extra time commitment a major problem.
E) She feels more engaged in the company and in her primary role.
Explanation: since she has taken up the companys new volunteering scheme/ programme after a few months Hung would feel more engaged in the company and in her primary role. This is so becau Hung has succed to pass down her knowledge and experience through the program to young interns who are new to the job world and lack the technical know how to perform such task and duties.
Jonathan is a blind widower whose home is valued at $110,000. He is homesteaded and under 65. His School taxes are 10.23 mils, his county taxes 6.789 mils, and his city taxes are 8.78 mils. What are his annual taxes?
Answer:
Jonathan's taxes depend on which state he lives in. Generally, widowers (male spouses who lost their wife while still married) are eligible for a homestead exemption, but the amount varies depending on the state.
For example, if Jonathan lives in Florida, the homestead exemption is up to the first $50,000, but in Texas it only includes the first $25,000.
Assuming that Jonathan lives in Florida, he can use his homestead exemption to reduce both his city and county taxes by $50,000:
city taxes = [($110,000 - $50,000) / $1,000] x 8.78 = $526.80county taxes = [($110,000 - $50,000) / $1,000] x 6.789 = $407.34the homestead exemption is reduced by half for school taxes:
school taxes = [($110,000 - $25,000) / $1,000] x 10.23 = $869.55total real estate taxes = $1,803.69
Pat is a rich boy whose parents supply him with every conceivable necessity of life. While still a minor, Pat buys a coat on credit from a men's store for $5,000. After wearing the coat for a while, Pat decides that it bores him and that he would like to disaffirm. Which of the following is most likely to be true? Assume that Pat is still a minor.
A. Pat can disaffirm the contract, but the store will sue him for deceit.
B. Pat cannot disaffirm the contract, and he is liable for the full price of the coat ($5,000).
C. Pat cannot disaffirm the contract, but he is liable only for the reasonable value of the coat.
D. Pat can disaffirm the contract, and he must return the coat.
Answer:
A
Explanation:
Generally speaking, a minor may disaffirm a contract at any time during minority or for a reasonable time after the minor comes of age. When a minor disaffirms a contract, all property that he or she has transferred as consideration can be recovered -- even if it was subsequently transferred to a third party. But to say something is disaffirm is to say it never exsited so therefore the store would be able to sue.
Which identification number is the most important component of your personal identity?
A.
debit card PIN
B.
credit card PIN
C. employee ID of the company
D.
social security number
E.
bank account number
Answer:
D.
social security number
Explanation:
This is because that number allows the government to keep track of your lifetime earnings and years you have worked
Suppose the government is concerned about firms in the United States importing illegal caviar. As a result, the government increases border patrols to catch illegal shipments. U.S. Customs agents perform DNA testing on the caviar to determine if it comes from endangered species of fish. If so, the government destroys the caviar.
What would we expect to observe in the caviar market?
Answer:
C
Explanation:
here are the options to this question
a. equilibrium prices and quantities will increase.
b. equilibrium prices will increase by more if the demand for caviar is elastic than if demand is inelastic.
c. total revenues to caviar firms will increase if the demand for caviar is inelastic.
d. all of the above are correct
As a result of the increased government scrutiny of caviar, the supply of caviar would fall and a result of this, prices would rise.
if prices rise and demand is inelastic, the total revenue of caviar firms would rise.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
As a result of the rise in price of caviar, there would be little or no change in quantity demanded and total revenue of these firms would rise
Home Appliance Corporation contracts with Instate Trucking Company to take a selection of appliance repair parts to Journey Airlines, Inc., with Journey to transport the goods to a KeepSafe Company warehouse. Instate Trucking, Journey Airlines, and KeepSafe each acknowledge possession of the goods by a document of title. Instate Trucking, Journey Airlines, and KeepSafe are
Answer: bailees.
Explanation:
Given: Home Appliance Corporation contracts with Instate Trucking Company to take a selection of appliance repair parts to Journey Airlines, Inc., with Journey to transport the goods to a KeepSafe Company warehouse which in terms known as Bailment which is a legal contract in law, where the owner(known as bailor) transfers physical possession of his property for a time to another party (known as bailees).
Here, Home Appliance Corporation is the bailor (Transfers possession of the goods to other party called bailee)
whereas Instate Trucking, Journey Airlines, and KeepSafe are bailees.
CompuTop Company sells toy laptop computers for $30 each. If the variable cost for each laptop is $20 and fixed costs total $25,000, how many laptops must CompuTop sell to generate a target income of $66,667?
Answer:
$9,166.70
Explanation:
The computation of the number of laptop need to sell is shown below:
= (Fixed expenses + target profit) ÷ (Contribution margin per unit)
where,
Contribution margin per unit = Selling price per unit - Variable expense per unit
= $30 - $20
= $10
And, the fixed cost is $25,000 + profit is $66,667
Now putting these values to the above formula
So, the number of laptops sells is
= ($25,000 + $66,667) ÷ ($10 per unit)
= $9,166.70
Consider the example of an individual in a grocery store examining two cans of peaches, Alpha Peaches and Beta Peaches. If Alpha is thought to provide 10 units of pleasure per dollar and Beta is thought to provide 8 units per dollar, then Alpha should be chosen.
a) true
b) false
Answer:
True.
Explanation:
True, The given situation is true because the pleasure (utility) provided by Alpha is greater than the pleasure (utility) provided by the Beta. Therefore, a rational person will buy only that commodity which has a higher utility. Here, we can see the Alpha provides 10 units of utility or pleasure per dollar while Beta provides 8 units of utility or pleasure per dollars. So, only Alpha will be chosen.
Employers generally restrict or monitor the Internet activity of their employees because the increased use raises the company's ISP rates significantly. True False 4 Although unethical, there are currently no laws in the U.S. for actions such as hacking and sharing copyrighted material. True False 5 Employees who engage in telecommuting may find themselves working more hours, especially if their supervisor feels as if they are always "on the clock." True False 6 Most experts recommend that companies monitor their employees secretly in order to prevent workers from circumventing the technologies used to track them. True False 7 Copyright protection lasts 20 years after the date of publication or release. True False 8 A web developer creates and maintains websites for organizations. True False 9 A _________ excels when it comes to installing, configuring, and supporting computer systems. network administrator software engineer database administrator computer support specialist 10 Creative works such as books, songs, and photographs are protected by copyright law. True False
Answer:
1. False.
2. False.
3. True.
4. False.
5. False.
6. True.
7. Computer support specialist.
8. True.
Explanation:
1. Employers generally restrict or monitor the Internet activity of their employees because the increased use raises the company's ISP rates significantly: False because it is considered unethical under certain employee rights.
2. Although unethical, there are currently no laws in the U.S. for actions such as hacking and sharing copyrighted material: False because there is a computer fraud and abuse act in existence.
3. Employees who engage in telecommuting may find themselves working more hours, especially if their supervisor feels as if they are always "on the clock.": True
4. Most experts recommend that companies monitor their employees secretly in order to prevent workers from circumventing the technologies used to track them: False because it is not ethical and violates the fundamental rights of the employees.
5. Copyright protection lasts 20 years after the date of publication or release: False because a copyright protection is 95 years from date of publication or release and 120 years from creation.
6. A web developer creates and maintains websites for organizations: True
7. A computer support specialist excels when it comes to installing, configuring, and supporting computer systems.
8. Creative works such as books, songs, and photographs are protected by copyright law: True
This table shows Lucas’s budget from last month. He also included his actual expenses after the month ended. Which of these changes should Lucas consider in next month’s budget? Check all that apply. less for income less for food more for discretionary spending more for income less for discretionary spending
Answer:
Less for income
Less for food
less for discretionary spending
Explanation:
Luca has prepared the budget for the month. He has included actual expenses in the budget to compare the budget with actual expenses. He has used flexed budgeting technique to incorporate his savings and expenses. He should keep less income, less for food and less for discretionary expenses in the new budget.
Answer:
A: less for income
B: less for food
E: less for discretionary spending
Explanation:
In his new budget he needs to do less for income, less for food, and less for discretionary spending. He needs less for income because in his budget it assumes he makes 400$ a month, however this month he made 375$. He needs to cut down on food an discretionary spending because he is spending too much for the amount he makes.
In the manufacture of 10,000 units of a product, direct materials cost incurred was $165,000, direct labor cost incurred was $105,000, and applied factory overhead was $53,000. The total conversion cost is
Answer:
$158,000
Explanation:
During the manufacture of 10,000 units of a products, the direct costs incurred was $165,000
The direct labour costs incurred was $105,000
The applied factory overhead was $53,000
Therefore, the total conversion cost can be calculated as follows
Total conversion costs= Direct labour+ Factory overhead
= $105,000+$53,000
= $158,000
Hence the total conversion cost is $158,000
If a 10% decrease in the price of one product that you buy causes an 8% increase in quantity demanded of that product, will another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded?
Answer:
No
Explanation:
to determine if another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded, we have to determine the price elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
8% / 10% = 0.8
demand in inelastic so a 10% reduction in price would lead to a less than 8% change in quantity demanded
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one