Which statement most accurately describes a conflict of commitment? It involves a monetary gain by one party over another party. It occurs when outside activities interfere with one’s responsibilities to an employer. It occurs when an institution does not follow the financial rules from a funding source. It can only occur between an institution and an outside organization.
Answer:
It occurs when outside activities interfere with one's responsibilities to an employer
Explanation:
Conflict of commitment occurs when the commitment of an employer to a defined terms of employment is shared with other engagements, either personal or with other parties which could lead to a decline in efficiency due to loss of maximum concentration.
This may not necessarily involve monetary gain but has a whole lot of ways through which it can affect productivity as concentration is shared.
It is always good to define activities that constitute conflict of commitment right from the time of forming an employment contract so that an employee can be guided with it.
According to the dividend growth model, an increase in which of the following will increase the current value of a stock all other things equal? I. dividend amount II. discount rate III. dividend growth rate
Answer: (1.) Dividend amount (111.) Dividend growth rate
Explanation:
The divided growth model is defined by the relation:
Po = D1 / (r - g)
Where Po = current price of stock
r = discount rate and g = growth rate of the stock
D1 = Next year's Dividend
From the Gordon model; The price of stock is directly proportional to the Dividend amount, therefore, an increase in Dividend amount will result in current value of stock and vice versa.
Since the current value of stock increases as Dividend amount increases, therefore an increase in the growth rate of the Dividend will also favor increase in the current value of stock.
Based on the dividend growth model, when the following are increased, the value of the stock would increase:
I. dividend amount III. dividend growth rateThe dividend growth model is calculated as:
Value of stock = Dividend / ( Discount rate - Growth rate)
For the value of stock to be high, the numerator will have to increase or the denominator will have to decrease.
Increasing the dividend would increase the numerator and increasing the growth rate would decrease the denominator, both of which would increase stock value.
In conclusion, increasing dividend amount and growth rate will increase the value of stock.
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Some argue that the Federal Reserve lowering interest rates from mid-2000 to the end of 2002 greatly increased the money supply; however, opportunities to invest yielded paltry returns leading bankers to offer _____ in order to earn a higher return.
Answer: Subprime mortgage loans
Explanation: In other earn higher return, subprime mortgage loans provides bankers the opportunity to charge borrowers higher rates on loans offered. This is because subprime mortgage loans are usually offered to credit defaulters. That is, customers with low credit score due to inconsistencies in their credit repayment due to late payment and poor credit history. Due to poor credit score and low tendency to repay borrowed amount, hence posing a high risk of recouping their fund, such borrowers would find it difficult to qualify for conventional mortgage plans. Subprime mortgages offers a lifeline though but at higher rates.
A coupon bond that pays semiannual interest is reported in the Wall Street Journal as having an ask price of 116% of its $1,000 par value. If the last interest payment was made 3 months ago and the coupon rate is 5.90%, the invoice price of the bond will be _________.
Answer:
1,172.50
Explanation:
Calculation for the invoice price
Since Semiannual is 6 month and the last interest payment was made 3 months ago that means we would have 3 months left.
Using this formula
Invoice price = Flat rate + Accrued interest
let plug in the formula
Invoice price = 1.16(1,000) + 25.00(3/6)
Invoice price=1,160+12.5
Invoice price=1,172.50
Therefore the invoice price will be 1,172.50
59. A poultry rancher discovered that when she increased the price of organic eggs from $0.75 to $1.00 per dozen, the sales of her eggs fell from 300 dozen per week to 200 dozen per week. Her price elasticity of demand (using the midpoint method) would be:
Answer:
PED = -1.4 or |1.4| in absolute values, price elastic
Explanation:
the price elasticity of demand (PED) using the midpoint method:
PED = % change in quantity / % change in price
% change in quantity = {(Q 2 − Q1 ) / [(Q2 + Q1)/2]} x 100 = {(200 − 300 ) / [(200 + 300)/2]} x 100 = -100 / 250 = -0.4% change in price = {(P2 − P1 ) / [(P2 + P1)/2]} x 100 = {(1 − 0.75 ) / [(1 + 0.75)/2]} x 100 = 0.286PED = -0.4 / 0.286 = -1.4 or |1.4| in absolute values
Equilibrium price is $8 in a perfectly competitive market. For a perfectly competitive firm, MR = MC at 150 units of output. At 150 units, ATC is $11, and AVC is $10. The best policy for this firm is to __________ in the short run. Also, total fixed cost equals __________ and total variable cost equals __________ for this firm.
Answer:
Shut down
$1650
$1500
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
in the shut run, a perfect competition should shut down if average variable cost is greater than price. this is the case for this firm $10 is greater than $8.
total fixed cost = average fixed cost x quantity produced = $11 x 150 = $1650
Total variable cost = average variable cost x quantity produced = $10 x 150 = $1500
An internal control system consists of all policies and procedures used to protect assets, ensure reliable accounting, promote efficient operations, and urge adherence to company policies. Evaluate each of the following statements and indicate which are true and which are false regarding the objectives of an internal control system.
1. Separation of recordkeeping for assets from the custody over assets is intended to reduce theft and fraud.
2. The primary objective of internal control procedures is to safeguard the business against theft from government agencies.
3. The main objective of internal control procedures is best accomplished by designing an operational system with managerial policies that protect the assets from waste, fraud, and theft.
4. Separating the responsibility for a transaction between two or more individuals or departments will not help prevent someone from creating a fictitious invoice and paying the money to herself or himself.
Answer:
Explanation:
1. True
Separation of record keeping for assets from custody over assets in custody over assets reduces theft and fraud . except in a case of collusion.
Fraud and theft of assets can be easily perpetrated and covered up when an individual combines the role.
2. False
Internal control focuses more on the internal operation of an organization rather than the external. Even though it can still be of impact in checking the excesses of external parties like the government agencies , but that is not its primary objective
3.True
Internal control's main objectives can be best accomplished when there is an operational system with managerial policies that protect waste , fraud and theft , being the major factors targeted to control
4.False
Separating the responsibility for a transaction between two or more individuals or departments is a major way of preventing creation of fictitious invoices and payment as it could have easily be detected if different individuals are involved in approval and payment of invoices.
A financial statement is a(n): Group of answer choices A. estimate of a firm's future income and expenses B. hybrid statement of cash flows C. itemized forecast of a company's income, expenses, and capital needs D. written report that quantitatively describes a firm's financial health
Answer:
D. written report that quantitatively describes a firm's financial health
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health.
Generally, the financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.
Modern products lines typically ensure that the quality of durable goods remains at stable levels, but because services depend on the people who provide them, quality may vary from person to person or day to day, in what is known as the ________ of services.
Answer:
inconsistency of services
Explanation:
Inconsistency of services is one of the characteristics of services. The Inconsistency of a service refers to the fact that a service cannot be perfectly standardized so that eachservice retains exactly the same quality even if provided by same service provider. A service provider may spend and invest heavily in training staff to control quality and reduce inconsistency in quality of services but never be able to perfectly get rid of it
Philip's Inc. reports stockholders' equity on its financial statements. The two items reported in the stockholders' equity section of Philip's balance sheet are ________ Capital and Retained Earnings.
Answer:
Paid-in capital.
Explanation:
Philip's Inc. reports stockholders' equity on its financial statements. The two items reported in the stockholders' equity section of Philip's balance sheet are paid-in Capital and Retained Earnings.
In Financial accounting, Paid-in capital is one of the most essential components of the equity of a business and can be defined as the payments received in full (cash or assets) from shareholders (creditors or investors) in exchange for a company's stock. It comprises of common stock and preferred stock.
Use commercial bank and Federal Reserve Bank balance sheets to demonstrate the immediate effect of each of the following transactions on commercial bank reserves. Assume that the initial reserve ratio is 20 percent. Fill in the new balances in the column in the balance sheets that correspond with each of the following transactions. Consider each transaction separately, not cumulatively.
a. Federal Reserve Banks purchase $2 billion worth of securities from banks.
b. Commercial banks borrow $1 billion from Federal Reserve Banks at the discount rate.
c. The Fed reduces the reserve ratio from 20 percent to 19 percent.
Instructions: Enter your answers as whole numbers in the gray-shaded cells of both tables below.
Answer:
Following are the explanation of the given points:
Explanation:
In choice (a):
The Fed was expected to purchase securities worth $2 billion, in will consist of up to two billion dollars, which adds the vales $ 40 and $2s equal to $42 billion and it minimizes securities by two billion Dollars (60-2$=58 billion dollars). The reserves required for a demand of 200 billion dollars are $40 billion (= 20% of 200 billion dollars).
The excess assets are two billion dollars (= 42 billion dollars-40 billion dollars) as well as the financial system will add 10 billion dollars more (= 2 billion dollars x 5) to the supply of money (by lending money).
In choice (b):
The Financial banks are expected to borrow from the Fed $1 billion. In the financial institutions, it can now raise (by loaning money) its supply of cash by 5 billion dollars (= $1 billion * 5).
In choice (c):
The adjustment throughout the reserve ratio doesn't change the balance sheets itself. If either the reserve ratio is assumed reported having reduced from 20% to 19%, then assets required currently stand at $38 billion (= 19% of $200 billion (= 0.19 x 200 = $38 billion), with financial institutions still able to increase their capital (by loans) by $10.53 billion (= $2 billion (1/0.19)). Proof: $210.53 billion 19% is $40 billion.
Following are the attachment of the table:
A homeowner receives a tax bill that includes an amount for the library district, taxed at $1.00 per $1,000, and the fire protection district, taxed at $2.00 per $1,000. How much does the taxpayer have to pay for these two items if the property's taxable value is $470,000?
Answer:
$1,410
Explanation:
Given the following :
Library district tax:
$1.00 per $1000
Fire protection district tax:
$2.00 per $1000
TAXABLE value of property = $470,000
Library district tax on property :
($470,000 ÷ $1000) * $1.00
470 * $1.00 = $470
Fire protection district tax on property :
($470,000 ÷ $1000) * $2.00
$470 * $2.00 = $940
Toral tax value :
$940 + $470 = $1,410
Q 8.21: On May 12, 2017, Hudson Merchandise sold merchandise on account to Guzman Housewares for $6,897, terms 3/10, n/30. If Guzman returns merchandise with a sale price of $318 on May 15, 2017, what amount will Hudson record in their Cash account if Guzman pays in full on May 20, 2017
Answer:
Cash received on account =$ 6381.63
Explanation:
The payment terms 3/10, n/30 implies that if Guzman Housewares pays within the next 10 days of purchase, it will receive a discount of 3% of the net invoice amount and that the latest date for the settlement of bill is within the next 30 days of purchase.
The latest payment date to qualify for discount is May 27th i.e ( May 12 + 10) but the payment was made by May 20th , so this qualifies Guzman Housewares for the discount.
The net amount of cash received by Blue Company is computed as follows:
Net sales = Gross sales - Returns inwards ( Sales returns)
= 6,897 - 318 =$6,579
Cash received on account = Net sales - discount
= =$6,579 - (3%×6,579) = $6,381.63
Cash received on account =$ 6381.63
Rapid-Built Homes specializes in low-cost prefabricated, modular homes that can be erected in a mat-ter of days anywhere in the country. Rapid-Built focuses on entire subdivisions of homes developed by real estate speculators. ModernModular Homes (ModMod) specializes in modular homes designed by architects which can be built anywhere in the country. The buyers usually build the home themselves from kits on their own lots. ModMod sells fewer than 100 house kits per year. ModMod is run by two professors of architecture as a sideline business. According to the "Framework of Competitive Analys-is," we can say that Rapid-Built and ModMod:________.
a. are direct mutually-acknowledged competitors.
b. have high resource similarity.
c. have high market commonality.
d. are probably not engaged in intense competitive rivalry.
Answer:
D, are probably not engaged in intense competitive rivalry
Explanation:
A competitive analysis framework or framework of competitive analysis can be said to be an analysis model that is used to examine a competitor market structure. This in turn helps you to properly prepare or structure your market analysis.
There are about 5 competitive analysis frameworks. They include SWOT(strength Weakness Opportunity Threats), Porter's five forces, Strategic group analysis, growth share matrix, perceptual mapping.
In the case of Rapid-Built Homes and ModMod, they are not exactly involved in intense competitive rivalry because while Rapid-Built homes is a developed by real estate speculators, ModMod is a side business for two architecture professors. This means that selling of housing units by Rapid-Builts is the source of main income for the company while for ModMod, is it not the main source of income for the professors.
Cheers
During the fiscal year ended December 31, 2020, the City of Johnstown issued 5% general obligation serial bonds in the amount of $2,000,000 at 102 ($2,040,000) and used $1,990,000 of the proceeds to construct a fire station. The $40,000 premium was transferred to a debt service fund. The $10,000 left in the capital projects fund at the end of the project was later transferred to the debt service fund. The bonds were dated April 1, 2020 and paid interest on October 1 and April 1. The first of 10 equal annual principal payments was due on April 1, 2021. What would be the amount of expenditures recorded by the debt service fund for the fiscal year ended December 31, 2020?
a) $100,000
b) $50,000
c) $95,000
d) $150,000
Answer:
Option B.. $50,000
Explanation:
DATA
Coupon rate = 5%
issue value = 2000,000
Time period = 6months ( April 1 to October 1)
Expenditure = ?
Solution
Expenditure recorded by the debt service fund can be calculated as
Expenditure = Issue value x Coupon rate x time period
Expenditure = 2,000,000 x 5% x6/12
Expenditure = 50,000
Option B.. $50,000 would be the correct answer
At the intersection of the short-run aggregate supply curve, the aggregate demand curve, and the long-run aggregate supply curve, the economy is in: Multiple Choice a long-run equilibrium but not a short-run equilibrium. both a short-run and long-run equilibrium. a short-run equilibrium but not a long-run equilibrium. neither a short-run nor long-run equilibrium.
Answer:
a short-run equilibrium but not a long-run equilibrium.
Explanation:
The long run aggregate supply and aggregate demand when intersect they determine the economy level of equilibrium. This will determine real level of GDP and prices in the long run. The short run supply curve is upward sloping. It determines the quantity of the output that will be produced at each level of price in the short run.
Mr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case the iron spike would be known as:
Answer:
Benchmark.
Explanation:
In this scenario, Mr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case, the iron spike would be known as benchmark.
In real estate, benchmark can be defined as an indicator which is used by individuals or group of developers to measure and define properties such as a land. Iron spikes and wood stakes could be used as a benchmark for indicating ownership or measurement of a property.
Sales associate A and sales associate B work for the same firm. They agree to divide their region into an eastern half and a western half; sales associate A will handle listings in the east, and sales associate B will handle listings in the west. Which statement is TRUE
Answer: C) The agreement does not violate antitrust laws.
Explanation:
Anti-trust laws in the United States are laws enacted at both federal and state level with the aim of protecting consumers by ensuring fair competition amongst firms. As such, these laws target things such as monopolies, price fixing and market allocation.
The sales associates are currently engaging in market allocation. However, this does not violate anti-trust laws because they work for the same firm and will be offering the same services and prices to people in either area and it is still the same firm covering both areas.
Boards of directors have responded to financial crises, corporate scandals, regulator obligations, and investor requests for structural changes. In looking at the 2011 Harvard Business Review study of the changes in configuration of boards since 1987, which change has been brought about by government legislation?
Answer: Percentage of the directors that are independent has increased.
Explanation: The response from board of directors, regarding financial crises, corporate scandals and regular obligations. brought about an increase in the percentage of board of directors who are independent. This has been due to government laid down legislations. This independent board of directors are not executive directors, but directors who hold shares of the organization.
Richard Inc. has been receiving complaints from its customers about the inefficiency of its customer service professionals. The company has now decided to change the recruitment criteria for this role. The new criteria place more emphasis on technical expertise. Richard Inc. is attempting to make a change in the area of
Answer:
Organization structure and design
Explanation:
Organization structure is when a company's mode of operations and strategies are clearly defined and translated into various functions to be carried out by units in the organization and how those units work together to achieve common objectives, while organization design which is quite broader than organization structure tells us about a company's whole process, how teams are set up and led to achieve an organization goals.
Both structure and design are often used to give directions to an organization where the desired results are not met. As in the above scenario, both the structure and the design will now be restructured and redefined such that the new employees that will be recruited must meet the criteria as set out therein hence result in operational efficiency.
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics.
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
Unemployment Type
Structural
Frictional
Cyclical
Lucia just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal.
Kenji recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.
Sharon is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
Unemployment Type Rate
(Percent)
Frictional 1.0
Cyclical 0.0
Structural 3.1
Total unemployment 4.1
This economy is not currently at full employment.
a. True
b. False
Answer:
Lucia just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. - Frictional
Frictional unemployment includes those people who are in between jobs, like Lucia. These are people who are recently unemployed and are expected to find employment soon, because their skills are wanted.
Kenji recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training. - Structural
Kenji does not have enough skills, or is not productive enough, to be hired at any wage set above or equal to the minimum wage. Kenji will have to increase his skills in order to get hired, thus, he is in structural unemployment.
Sharon is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job. - Cyclical
Cyclical unemployment corresponds to unemployment that is directly related to economic cycles, hence the name. When the economy is in a downturn, this type of unemployment rises, and when the economy is expanding, this type of unemployment falls.
Sharon is unemployed because the real estate market in her area is in recession.
This economy is not currently at full employment. b. False
Full employment occurs when the unemployment rate is at the natural rate, which is the sum of frictional and structural unemployment. This means that for an economy to at full employment, cyclical unemployment must be zero, as it is the case in this question.
The CEO of peripheral company QuickDrive uses a leadership style that encourages employees to discuss management issues with the CEO and to work together to resolve those issues in a democratic manner. Which of the following statements would the CEO of QuickDrive most likely make?
A) The key to QuickDrive staying on top in a high-tech industry is not wasting time checking out what other firms do, but to act immediately on my directives.
B) In a high-tech business, it is more important to invest in technology than to invest in people.
C) The key to keeping talented employees loyal to QuickDrive is to use a participative management style and treat them with respect, value their ideas, give them the resources they need, and expect great things from them.
D) Spending a lot of money to buy out competitors for their technology is likely to backfire, because QuickDrive is a leader in technology development.
Answer:
C) The key to keeping talented employees loyal to QuickDrive is to use a participative management style and treat them with respect, value their ideas, give them the resources they need, and expect great things from them.
Explanation:
As for the statement in the question, we can see that the CEO of QuickDrive believes that the ky to success is to engange employees in an active manner.
Employees, instead of being people who only go to work and perform certain tasks, become collaborative with management, taking up the role of management often.
This lack of rigidity and free flow of ideas from top of the company to botton will likely result in a business enviroment that promotes sense of belonging, and rapid adaptation to change.
g) Recovery schedule is a: i. A schedule prepared by the contractor to recover lost costs. ii. A schedule prepared by the owner and given to the contractor to make adjustments in the work plan. iii. A schedule prepared by the contractor after the project had fallen behind with adjustments that expedite the remainder of the project to ensure a timely finish. iv. None of the above.
Answer: iii. A schedule prepared by the contractor after the project had fallen behind with adjustments that expedite the remainder of the project to ensure a timely finish
Explanation:
The recovery schedule is a method of recovering time by the contractor. Just like the progress schedule, it should be noted that the recovery schedule is the responsibility of a contactor.
Therefore, it is a schedule prepared by the contractor after the project had fallen behind with adjustments that expedite the remainder of the project to ensure a timely finish.
When a user fills out an online form, but makes an error and the data is not immediately accepted (until the input error is corrected), if the system clears all the fields and requires the user to start over, this is an example of violating the principle of ______.
Answer:
protecting the user's work
Explanation:
this is an example of violating the principle of protecting the user's work. By clearing and requiring user to start all over a violation to the user occurs. users should be helped to protect themselves online, because their personal data can be easily tracked and breached while users are trapped trying to start over with inputting details.
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,100 account of a customer, C. Green. On March 9, it receives a $1,600 payment from Green.
Prepare the journal entry or entries for January 31.
Prepare the journal entry or entries for March 9; assume no additional money is expected from Green.
Answer: Please see answer in explanation column
Explanation:
a) Journal entry to write off an uncollectible amount.
Date Account Debit Credit
Jan 31st Allowance for doubtful accounts $2,100
Accounts receivable—C. Green $2,100
b) Journal to record recovery of the bad debt.
Date Account Debit Credit
Mar 9 Accounts receivable—C. Green $1,600
Allowance for doubtful accounts $1,600
c) Journal to record payment on account.
Date Account Debit Credit
Mar 9 Cash $1,600
Accounts receivable—C. Green $1,600
Cindy's Ceramics engaged in a like-kind exchange that resulted in a $3,000 gain. In addition to the like-kind property received in the transaction, Cindy also received $5,000 cash. Cindy will have to recognize $
Answer:
$3,000
Explanation:
Data provided in the question
Gain received while exchanged = $3,000
Received cash = $5,000
Based on the above information, the Cindy recognize the gain i.e $3,000 which is received while exchanged it
Therefore in the given case, the Cindy have to recognize the gain for $3,000
The cash amount received should be ignored
Sandra Stone, Vice President of International Operations for Global Apparel Corporation, was working with her subordinate, Pete Thompson, to plan for his upcoming 18-month overseas assignment to the firm's new office in Rome. Based upon her experience with previous failed overseas assignments, she was taking steps to avoid another failure. Therefore, one of the key features of Sandra's plan for Pete was to
Answer: develop a reentry plan for Pete prior to the completion of the overseas assignment.
Explanation:
The options to the question are:
A. develop a reentry plan for Pete prior to the completion of the overseas assignment.
B. limit communication to every-other-month status phone calls so as to not micromanage Pete.
C. save costs by avoiding a "look-see" trip for Pete and his family, given Pete's enthusiasm.
D. develop performance measures after Pete had completed his first year.
E. develop the assignment "on the fly" given the uncertainties involved.
From the question, we are informed that Sandra Stone, Vice President of International Operations for Global Apparel Corporation, was working with her subordinate, Pete Thompson, to plan for his upcoming 18-month overseas assignment to the firm's new office in Rome.
We are further told that based upon her experience with previous failed overseas assignments, she was taking steps to avoid another failure. Therefore, one of the key features of Sandra's plan for Pete was to develop a reentry plan for Pete prior to the completion of the overseas assignment. This will help to prevent another failed overseas assignment.
A country has been in existence for only two years.
In the first year, receipts were $1.0 million and outlays were $1.5 million.
In the second year, receipts were $1.5 million and outlays were $2.0 million.
At the end of the second year, the government had issued debt worth______
Answer:
-1.0 million
Explanation:
the debt issued in the second year is equal to the sum of the excess of revenues over outlays
in year 1, debt = $1.0 million - $1.5 million = $-0.5 million
In year 2, debt = $1.5 million - $2.0 million = $-0.5 million
$-0.5 million + $-0.5 million = -1.0 million
Q 5.36: Badger Enterprises purchased aluminum from JG Metals. When Badger Enterprises recorded this transaction, they made entries into three accounts: Purchases, Freight Costs, and Purchase Discounts. Based on this, what type of inventory system does Badger Enterprises use
Answer: periodic inventory system
Explanation:
The type of inventory system used by Badger Enterprises is the periodic inventory system. The periodic inventory system is an inventory whereby updates are usually done on periodic basis.
In the periodic inventory system, physical count of inventory is done at specific intervals. This is the method used by the company in the question.
According to Michael Porter, businesses can compete successfully by doing which of the following? A. being the cheapest producer B. making unique products valued by consumers C. applying their expertise in a narrow market segment to meet that segment’s particular product or service needs D. any of these
Answer:
D. any of these
Explanation:
Competitive strategy means intentionally selecting a distinct set of tasks to produce a compelling value proposition. Michael Porter focused on the topic of international competition. He consulted international governments on their economic strategies and led the U.S. Presidential Commission. Porter's strategies explain how a business upholds competitive advantages across the whole concerned market context.