Answer:
A. accounting profit; excluding opportunity cost
Explanation:
here are the options to this question :
A. accounting profit; excluding opportunity cost
B. accounting profit; including opportunity cost
C. economic profit; excluding opportunity cost
D. opportunity cost; including economic profit
Accounting profit is total revenue less total explicit cost.
Revenue = price x quantity sold
explicit cost is the cost actually incurred in carrying out a particular activity e.g. wages, rent
Economic profit is accounting profit less opportunity cost.
Opportunity cost or implicit is the cost of the option forgone when one alternative is chosen over other alternatives.
If the world's population increased exponentially from 5.937 billion in 1998 to 6.771 billion in 2008 and continued to increase at the same percentage rate between 2008 and 2012, calculate what the world's population would have been in 2012. how does this compare to the population reference bureau estimate of 7.07 billion in july 2012?
Answer:
The world's population would have been 7.1137 billion in 2012, and this is 0.0437 billion (i.e. 7.1137 - 7.07 = 0.0437) higher compared to the population reference bureau estimate of 7.07 billion in July 2012.
Explanation:
This can be computed using the following exponential formula:
P(t) = P(0)a^t ............................ (1)
Where;
P(t) = World population in year t.
P(0) = World population in year 0 which is 1998 = 5.937 billion
a = base = ?
t = number of years
Substituting the value into equation (1), we have:
P(t) = 5.937 * a^t .......................................... (2)
Since we have 10 years from 1998 to 2008 (i.e. 2008 - 1998 = 10), we have:
P(t) = P(10) = World population in 2008 = 6.771 billion
t = 10
Substituting the value into equation (2) and solve for a, we have:
6.771 = 5.937 * a^10
a^10 = 6.771 / 5.937
a^10 = 1.1405
a = [tex]\sqrt[10]{1.405}[/tex]
a = 1.013
Since we have 14 years from 1998 to 2012 (i.e. 2012 - 1998 = 14), we now have:
P(t) = P(14) = World population in 2012 = ?
P(0) = World population in year 0 which is 1998 = 5.937 billion
a = 1.013 as already calculated above
t = 14
Substituting the value into equation (1), we have:
P(14) = 5.937 * 1.013^14
P(14) = 5.937 * 1.192
P(14) = 7.1137 billion
Therefore, the world's population would have been 7.1137 billion in 2012, and this is 0.0437 billion (i.e. 7.1137 - 7.07 = 0.0437) higher compared to the population reference bureau estimate of 7.07 billion in july 2012.
The management of Won League Lotteries was planning to shut down one of its offices. This shutdown was going to result in layoffs, and the employees were not happy. The employees stopped picking up client calls and started leaving work before completing their eight-hour shifts. In the context of scientific management, this behavior of the employees is known as _____.
Answer:
Soldiering
Explanation:
Since in the question it is mentioned that the Won League Lotteries plans to close down one of its offices due to which the employers are sad that results in not picking up the customer calls, not spend full-time hours as prescribed
So this is a case of soldiering in the viewpoint of scientific management and these employees behavior represents the soldiering case and the same is to be considered
On September 1, 20X1, Four Brothers Company pays $48,000 cash for six months of rent in advance. The balance of the prepaid rent account on December 31, after all adjusting entries, is:
Answer:
$12,000
Explanation:
the journal entry to record the payment of prepaid rent is:
September 1, 20x1, prepaid rent
Dr Prepaid rent 48,000
Cr Cash 48,000
The adjusting entry to record rent expense on December 31, 20x1 should be:
December 31, 20x1, rent expense
Dr Rent expense 32,000
Cr Prepaid rent 32,000
Rent expense = ($48,000 / 6) x 4 months = $32,000
the ending balance of the prepaid rent account is $12,000
A consumer's willingness to trade one good for another can be expressed by the consumer's A) marginal rate of substitution. B) indifference curve. C) Both A and B above. D) None of the above
Answer:
Marginal rate of substitution
Indifference curve
Explanation:
Marginal rate of substitution is the act in which a customer substitutes some quantities of good for another and is still able to derive the same level of satisfaction . The substitution has to be marginal for the derived satisfaction to be maintained.
Indifference curve is a graphical representation of the combination of the quantities of goods that a customer perceives to be of the same value to him.
While the quantity of a good increases , the quantity of the other good decreases .
The two definitions above best describe the situation in the scenario.
A form of business organization in which two or more individuals come together for a business purpose and share in the profits or losses of the venture is called
Answer:
Joint venture
Explanation:
A joint venture is a form of business entity that involves two or more people coming together to create the entity for the purpose of business. In a joint venture, the parties share ownership of the business, they also share the profits (returns) and losses of the venture. In addition, the parties share the leadership and governing of the venture. Most joint ventures are established for the purpose of accessing emerging markets, by combining resources and assets to achieve this.
Which act prohibits an employer from paying an employee of one gender less money than an employee of the opposite gender where the jobs require equal skills, effort, and responsibility and are performed under similar working conditions
Answer:
Equal pay act
Explanation:
The equal pay act refers to that act in which the men and women are treated equally and therefore they give equal pay for doing the work. Also, in the united states, it prohibits gender-based discrimination.
Therefore in the given case since the requirement of the job is equivalent to the skills, effort, duties, responsibilities and contains the similar working conditions but it would prohibited the case of not following the equal pay due to the difference in gender
so this is a case fo equal pay act
The ______________________________ is an award competition for students attending Nuts and Bolts member schools that recognizes outstanding business skills and academic excellence.
Answer:
Nuts and Bolts International Business Student of the Year Competition (IBSY)
Explanation:
This competition seeks to award students attending Nuts and Bolts member schools for their outstanding business skills and academic excellence. Interestingly, this award has been in existence for 15 years now.
Using the equation of exchange, if the Federal Reserve Bank expands the money supply and but there is no real growth in the economy and the general price level does not rise, what conclusion must we draw
Answer:
The conclusion we can draw is that businesses invest heavily on capital expenditures for future growth.
Explanation:
The equation of exchange is: M × V = P × Q, where:
M: the money supply
V: the velocity of money
P: the general price level
Q: the expenditures
Because V increase while P (no real growth in the economy mean the velocity of money is stable) and P are unchanged, Q must increase too. The increase is usually on capital expenditures.
On its December 31, 2020, balance sheet, Trafton Company reported its investment in equity securities, which had cost $600,000, at fair value of $560,000. At December 31, 2021, the fair value of the securities was $585,000. What should Trafton report on its 2021 income statement as a result of the increase in fair value of the investments in 2021?
Answer:
Unrealized gain of $25,000
Explanation:
Calculation for what Trafton will report on its 2021 income statement
Since we were told that the company had fair value of the amount of $560,000 At the end of the year in which we were still told that the fair value of the securities was the amount of $585,000 which means that Trafton will report an UNREALIZED GAIN of the amount of $25, on its 2021 income statement calculated as:
Using this formula
Income statement = 31 December Fair value of securities - Fair value investment in equity securities
Let plug in the formula
Income statement =$585,000 - $560,000
Income statement= $25,000 Unrealized gain
Therefore Trafton will report Unrealized gain of the amount of $25,000 on its 2021 income statement
Which statement is correct regarding the percentage of qualified medical and dental expenses taxpayers will be allowed to deduct on their 2019 tax return?
Answer:
7.5%
Explanation:
In 2019, the Internal Revenue Service(IRS) United States allows taxpayers deduct qualified medical and dental expenses that exceed 7.5% of adjusted gross income(AGI). Example if your adjusted income for relevant year is $60000 and your medical expenses amount to $6000, your deductions will amount to $60000*0.075= $4500=$6000-$4500=$1500. Therefore you are eligible to deduct $1500 from AGI
When does the elasticity of supply of commodity called equal to unity?
Answer:
When a percentage change in price leads to the same percentage change in the quantity supplied. This means that supply is unit elastic
Explanation:
Price elasticity of supply measures the responsiveness of quantity supplied to changes in price of the good.
Price elasticity of supply = percentage change in quantity supplied / percentage change in price
Supply is unit elastic if a small change in price has an equal and proportionate effect on quantity supplied.
For example, a 20% increase in price leads to 20% increase in the quantity supplied
Elasticity of supply = 20% / 20% = 1
In the _________ phase of BPI, the BPI team identifies relevant process metrics and collects data to understand how the metrics evolve over time.
Answer:
Measure.
Explanation:
In the measure phase of Business Process Improvement (BPI), the Business Process Improvement (BPI) team identifies relevant process metrics and collects data to understand how the metrics evolve over time.
Business Process Improvement (BPI) can be defined as an incremental approach, in which an organization focuses on limiting variation in the process outputs by searching for the main causes of the variation among process inputs or in the process itself.
The main steps of the Business Process Improvement (BPI) includes; mapping, analysis, redesign, implementation, reflection and benchmarking.
Additionally, some of the methodologies used for the Business Process Improvement (BPI) are Six Sigma, Total Quality Management (TQM), Lean etc.
Answer:
Explanation:
In the measure phase of Business Process Improvement (BPI), the Business Process Improvement (BPI) team identifies relevant process metrics and collects data to understand how the metrics evolve over time.
Which of the following is not true of a corporation? a. It may buy, own, and sell property. b. It may sue and be sued. c. The acts of its owners bind the corporation. d. It may enter into binding legal contracts in its own name.
Answer:
C. The acts of its owners bind the corporation.
Explanation:
Corporation in management can described as a group of an organization, this could be a company that carry out some specific role and are legally formed. Corporation may be formed because they want to be making gains or otherwise however, they posses their shareholders. It should be noted that a corporation may buy, own, and sell property, It may sue and be sued.
Therefore, from the question all the given options are true about corporation expect ""The acts of its owners bind the corporation. d. It may enter into binding legal contracts in its own name"".
When senior managers at Gap, Inc. decided to become the number one service-quality clothing company in the world, they were engaging in the management function of _____.
Answer:
Planning
Explanation:
Planning is crucial aspect of management, it can be explained as the process carried out by an organization to make rooms for their activities in the future for the success of the organization, it helps the organization to know the goals and how to achieve this goals. It should be noted that Planning could be strategic or operational in nature
Therefore, from the question, the statement can be written as " when senior managers at Gap, Inc. decided to become the number one service-quality clothing company in the world, they were engaging in the management function of planning"
The accounts receivable turnover ratio for a merchandiser is 9.9 times. Calculate the days' sales in receivables for the merchandiser. (Round your answer to the nearest day.)
Answer:
36.86 days
Explanation:
As we know that
Accounts Receivable Days = 365 / Accounts receivable Turnover ratio
Here
Accounts receivable Turnover ratio is 9.9
By putting values, we have:
Accounts Receivable Day = 365 / 9.9 = 36.86 days
The act that reduced the tax on British tea in order to give it an unfair advantage over tea imported from other countries was the
Answer:
Tea Act.
Explanation:
The act that reduced the tax on British tea in order to give it an unfair advantage over tea imported from other countries was the Tea Act.
The Tea Act was passed by the British parliament on the 10th of May, 1773. The act granted the British tea company a monopoly on the importation of tea to the American colonies, as well as eliminated the customs duty on British tea and permitted its direct export to America.
Heather is American and works for a U.S.-based company in Brazil. It appears the company has made a(n) ______ staffing choice.
Answer:
ethnocentric
Explanation:
A choice of ethnocentric staff can be defined as an approach in which an organization chooses to hire a team of staff of the same nationality as the host company, which guarantees several advantages and also some disadvantages.
A significant advantage is that having employees of the same nationality as the headquarters company, ensures that there is greater cohesion between culture and language, which guarantees an advantage in reducing barriers that may negatively affect the flow of organizational operations.
Devin is a landscaper who needs to prepare different types of grass seed for his customers' yards. Bluegrass seed costs \$2.00$2.00dollar sign, 2, point, 00 per pound while drought-resistant seed costs \$3.00$3.00dollar sign, 3, point, 00 per pound. If for a particular day the two types of grass seed totaled \$68.00$68.00dollar sign, 68, point, 00 and together weighed 252525 pounds, how many pounds of bluegrass seed did Devin prepare
Answer:
7 pounds
Explanation:
Let us assume the x for the 1 pound of bluegrass seed and y for the pound of drought resistant seed
Now the first equation would be
x + y = 25 ............................ (i)
we can write
y = 25 - x
Now the second equation would be
2x + 3y = 68 .............................. (ii)
Now put y value in the equation 2
So
2x + 3(25 - x) = 68
2x + 75 - 3x = 68
x= 7
Therefore the bluegrass seed is 7
Now for drought-resistant it would be
7 + y = 25
y = 18
To increase the accumulated depreciation account, you would ______ the account, and to increase depreciation expense, you would _____ the account.
Answer:
Credit, debit
Explanation:
An individual who lacks self-esteem and questions his or her self-worth is more likely to absorb a leader's direction rather than establish and individual way of leading or thinking.
a. True
b. False
Answer: True
Explanation:
Self-esteem describes th self worth of an individual. Someone who has a self esteem believes in himself or herself and likes himself or herself.
It should be noted that an individual who lacks self-esteem and questions his or her self-worth is more likely to absorb a leader's direction rather than establish and individual way of leading or thinking. This I because the person doesn't believe in himself or herself and is afraid to do things on his own.
On January 1, 2019, Billips Corporation purchased equipment having a fair value of $72,054.94 by issuing a $90,000 note, payable in three $30,000 annual installments beginning December 31, 2019.
Required:
Prepare:
a. the journal entry to record the purchase of the equipment.
b. a schedule to compute the annual interest expense.
c. the journal entries to record yearly interest expense and note repayments over the life of the note.
Answer:
a. the journal entry to record the purchase of the equipment.
January 1, 2019, equipment is purchased
Dr Equipment 72,054.94
Dr Discount on notes payable 17,945.06
Cr Notes payable 90,000
b. a schedule to compute the annual interest expense.
Since we are not given any type of interest rate to compute the amortization of the discount of notes payable using the effective interest method, I will use straight line amortization. Amortization of interest expense per year = $17,945.06 / 3 = $5,981.68
interest expense for year 1 = $5,981.68, carrying value of discount on notes payable = $11,963.38interest expense for year 2 = $5,981.68, carrying value of discount on notes payable = $5,981.70interest expense for year 3 = $5,981.70.c. the journal entries to record yearly interest expense and note repayments over the life of the note.
December 31, 2019, accrued interest expense
Dr Interest expense 5,981.68
Cr Discount on notes payable 5,981.68
December 31, 2020, accrued interest expense
Dr Interest expense 5,981.68
Cr Discount on notes payable 5,981.68
December 31, 2021, notes payable is paid off
Dr Notes payable 90,000
Dr Interest expense 5,981.70
Cr Cash 90,000
Cr Discount on notes payable 5,981.68
Under GASB standards, financial information useful for assessing operational accountability is primarily reported in which financial statements? Government-wide Financial Statements Fund Financial Statements a. No Yes b. Yes No c. Yes Yes d. No No
Answer: b. Yes; No
Explanation:
The Government Accounting Standards Board (GASB) is simply a non-governmental organization which is private that helps in the creation of accounting reporting standards, for both states in the United States and the local governments.
Under GASB standards, financial information useful for assessing operational accountability is primarily reported in the Government wide financial statements and not the Fund Financial statements.
"Under FINRA rules, maximum underwriter's compensation for selling direct participation programs is generally limited to:"
Answer:
10%
Explanation:
According to Financial Industry Regulatory Authority, FINRA, a private corporation that operates as a self-regulatory organization, have suggested that, in order to have modest and reasonable offerings for underwriters, typically the maximum spread that can be taken by underwriters in limited partnership offerings is 10% of the purchase price.
Hence, the correct answer in this situation is 10%
Efficient processes in manufacturing that resulted in quality products and reduced unit costs was the focus of which era in the evolution of marketing?
Answer:
Product orientation.
Explanation:
Efficient processes in manufacturing that resulted in quality products and reduced unit costs was the focus of product orientation in the evolution of marketing.
Product orientation refers to a management philosophy or concept which suggests that the quality of the goods produced by a company are much more important than the needs and wants of the potential customers in the target market. This ultimately implies that, the end users or consumers would be more attracted to goods that are of quality standards.
Sending special offers to customers who have opted in to receive discounts via SMS text message or advertising a brand on a popular mobile game app like Angry Birds is an example of mobile __________.
Answer: Marketing
Explanation:
Mobile Marketing is probably the fastest growing method of marketing in the world today as the world sees more people using smartphones every year than the year before.
Mobile Marketing involves methods that target the mobile phone of a user so that they may have extended exposure to the advert. They can include sending special offers to customers who have opted in to receive discounts via SMS text message.
They can also involve advertising on apps like Angry Birds and media apps. This is why some apps are free because the developers earn revenue from mobile advertising.
Complaints of fair housing discrimination must be filed with the Human Rights Commission within 180 days of the alleged discriminatory act. Complaints must be filed with HUD within:_______
Answer:
one year
Explanation:
In such a scenario you must file any discriminatory complaint within one year of the last date of the alleged discrimination under the Fair Housing Act. Most civil rights authorities have been known to allow complaints to be filed after one year for good cause, but for the Fair Housing Act complaints, the Office of Fair Housing and Equal Opportunity recommend filling as soon as possible in order for certain action to be able to take place.
A person has fee simple ownership of a unit in a multi-story building. She is also required to pay property taxes on that unit. Which type of common interest ownership could the owner have?
Answer: 3. condo ownership
Explanation:
A condominium is similar to an apartment/ flat meaning that it is an individual unit in a multi-story building that has other apartments in it as well. A condo unlike an apartment however, can be sold to individual owners.
The buyers of these condos will have a fee simple ownership interest in the condo meaning that they have full ownership and so will pay taxes on it.
Many private sector organizations require a formal statement, called a(n) ____, which provides search authorization and furnishes much of the same information usually found in a public sector search warrant.
Answer: affidavit
Explanation:
An affidavit is a written statement that implies that one is saying nothing but the truth. It is used to price that an issue is true in the court.
Many private sector organizations require a formal statement, called an affidavit which provides search authorization and furnishes much of the same information usually found in a public sector search warrant.
Steve wants to use Google Display Ads to reach new customers who are looking to purchase products similar to his. Which audience type should Steve try to reach to meet his marketing goal?
Answer: In-Market audiences
Explanation:
In-market audiences are internet users who through their browsing history and tendencies have spurred Google to term them as users with high commercial intent.
Because of the analysis done by Google, they know what the users are looking for and so one can target specific ads at them. Steve can therefore use Google Display Ads to target those customers who are looking to buy similar products to his through In-market audiences.
Brian's desired audience isn't covered by the segments In-Market audiences offers. What's another suitable option Brian could choose to help him influence potential customer consideration?
Answer:
Custom Intent audiences
Explanation:
Custom-minded audiences help you define and reach the ideal audience for your business. With a focus on performance advertisers, positive-minded audiences allow you to reach out to people. When they decide to buy beyond pre-defined audience segments. If you want to create an audience that is not included in the audience segments of our market, positive intent is for you. So Brian can choose a positive-minded audience to impress potential customers, even if they are not within the reach of the audience in the market.