The principle of a note is the amount that the signer of a note agrees to pay back when it matures, not including interest.
A note's principle is defined as the sum, excluding interest, that the note's signer promises to repay when it matures. The payment made in repayment of a note often consists of both the principal amount and interest. A repayment of the initial sum would be the principle part. When using the money's purchasing power, the interest is similar to interest.
There is no legal requirement for the backing of paper money under banking note-issuing principles. The bank and trade should only issue notes when necessary and at their own discretion. To honour the notes in their own best interests, banks will maintain adequate reserves.
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The salary of a vice president of an organization is an example of a(n)________ cost while the salary of an electrician hired to work on a construction project is an example of a(n) ________ cost
The salary of a vice president of an organization is an example of an indirect cost while the salary of an electrician hired to work on a construction project is an example of a direct cost.
Direct costs are those business expenses which can be directly applied to producing a specific cost object, like a particular good or service. Cost objects are those items to which that expenses are assigned.
Different examples of direct costs include:
Direct labor
Manufacturing supplies
Direct materials
Indirect costs are those expenses which are applied to more than one business activity. Indirect cost are not like the direct cost, They cannot assign indirect expenses to specific cost objects rather they assign those expenses in total.
Examples of indirect costs include:
Rent
Other overhead costs
Utilities
Professional expenses
General office expenses
Employee salaries (e.g., administrative)
Direct costs are those expenses that directly go into producing goods or providing services, while indirect costs are those general business expenses that keep you operating.
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11. The Federal statute that was intended to reduce the number of repetitive NFIP claims while also reducing flood losses and costs associated with insurance claims is the:
he Flood Insurance Reform Act of 2004 is the statute that was intended to reduce the number of repetitive NFIP claims.
What was the Federal flood institute?This was the institute that was started in the United States due to the havoc that was caused by floods.
The goal of this was to check the claims that people were making based on the situation.
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________ is the public relations function which involves reacting to negative events.
The answer is damage control.
The public relations officer's job is not to enlighten the public about the employer, but to feed the public information that will positively impact the public in favor of the business. They twists and manipulates the material to give a favorable impression. When a public relations officer shows the public a half glass, the is task is to persuade them that the glass is half-full, not half-empty. When the general public loves, respects, and trusts an individual or corporation, it is simpler for them to acquire what they desire.
One of the responsibilities of a public relations department is damage control, which is reducing the negative impact of an incident or set of events.
Therefore, the answer is damage control.
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Which events listed below would terminate a brokerage relationship where a broker represented a seller
The events listed that would terminate a brokerage relationship where a broker represented a seller are:
The house sold and the transaction closedThe owner declares personal bankruptcyWho is a broker?Broker is a person or a company whose work is to sell a company's products hence charge a commission for each product sold. He is like an intermediator between the company and the client.
An agency relationship creates a fiduciary duty owed by the agent to the principal, hence must act in the best interest of his principal at all times.
However, a brokerage relationship may be dissolved where the owner of an item is declared bankruptcy and also were transaction have been completed or closed.
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The budget director of royal furniture company requests estimates of sales, production, and other operating data from the various administrative units every month. selected information concerning sales and production for february is summarized as follows:
The total revenue realized from the sales in Royal furniture company equals $1,875,500.
How do we prepare the sales budget?Royal Furniture Company
Sales Budget
For the Month Ending February 28
Product and Area Sales Volume Selling Price Total Sales
King:
Northern Domestic 610 780 475,800
Southern Domestic 340 780 265,200
International 360 850 306,000
Total 1,047,000
Prince:
Northern Domestic 750 550 412,500
Southern Domestic 440 550 242,000
International 290 600 174,000
Total 828,500
Total revenue from sales $1,875,500
2) Production Budget
Missing words ". Estimated sales of King and Prince chairs for February by sales territory:
Northern Domestic:
King 610 units at $780 per unit
Prince 750 units at $550 per unit
Southern Domestic:
King 340 units at $780 per unit
Prince 440 units at $550 per unit
International:
King 360 units at $850 per unit
Prince 290 units at $600 per unit"
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Francine moved out of the property she was renting, and she left it in pristine condition. How long after she moves out does the property manager have to return her security deposit
One month; property manager will have to return her security deposit in one month after she moves out of the property.
More about security deposit:
Source of funds to pay tenant obligations owed to the landlord in the event of a breach of the rental or lease agreement. When a tenant fails to uphold their financial obligations under the terms of a rental or lease agreement, the landlord may be able to recover some of their financial losses from the security deposit.
If a tenant's creditworthiness affects the security deposit, the landlord must set clear and specific criteria for the various creditworthiness levels they consider when choosing tenants (such as credit scoring).
Additionally, each potential tenant who falls within each level of creditworthiness must pay the security deposit amount that has been established for that level.
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For a business to grow, prosper, and create economic opportunity, many people have to be willing to invest money in it. An advantage of a corporation is its ability to raise money through the sale of
Corporates raise money through selling their shares. The correct answer is shares. By selling the shares, the corporates get an opportunity to grow, prosper and create economic opportunity.
Why do Corporates sell shares?All businesses require capital to function. Selling shares in a sale of ownership can be done for a variety of reasons, including debt consolidation, funding business expansion, or risk diversification. Selling shares in a company might bring in a sizable sum of money that can be put toward debt repayment, investments, or charitable contributions. The money may also be reinvested in the company to finance growth. Similar to how selling a portion of a company can lower risk and help owners diversify their own holdings.
Other factors may also motivate business owners to sell their shares. Selling shares gradually can help you plan for eventual succession and transfer ownership in a way that will cause the eventual new owners to experience the least amount of tax shock possible. Finally, selling shares in a company can be the result of burnout or a refusal to expand the company further.
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The journal entry to close the fees earned, $115, and rent revenue, $20, accounts during the year-end closing process would involve:_________.
The closing account for Fees earned and Rent revenue is Profit or loss account.
What is Rent?Rent is the cash compensation for occupying a property of an owner for a specific period of time, the rental expense is paid by the occupier to the owner of the property.
The rent is paid monthly, semi annually or annually as per the agreed duration of time in the contract also the amount of the rent is also agreed and mentioned in the contract, the contract is a legal document and can be challenged in court of law if any party breaches the clause(s).
The fees earned and rental income is reflected in the other income head of the Profit or loss account and that is why its closing entry contains this account. The fees earned and the rental income is not reported directly in the statement of Financial position.
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Fennick Company reports net income of $92,000 in 2022. However, ending inventory was understated by $7,000. What is the correct net income for 2022
The correct net income for 2022 is $99,000.
Given,
In 2022, the Fennick Company reported a net income of $92,000.
Nevertheless, ending inventory was $7000 underestimated.
Since it is given that the closing inventory was understated.
It would mean that the net income will also be understated by the same amount.
Therefore to calculate the amount of correct net income we will add $7,000 which is the amount by which inventory was understated to the incorrect net income,
Which means, correct net income = incorrect net income + understated amount of ending inventory
correct net income = $92,000 + $7,000
= $99,000
Hence, the correct net income for the year 2022 is $99,000.
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There are many account representatives who can help you with your order is an example of a cliche.
a. true
b. false
The statement"There are many account representatives who can help you with your order is an example of a cliche." is FALSE. This is further explained below.
What are account representatives?Generally, A professional who typically works on teams that are responsible for providing customer support and creating relationships is known as an Account Representative. They bring in revenue through establishing new customer connections and fostering those that are already in existence. They collaborate with clients on an as-needed basis throughout each step of the development process.
In conclusion, The convenience factor is one of the many benefits that listeners may get from podcasting as a form of advertising.
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According to Porter's model of business activities, interactions across value activities are called ________.
According to Porter's model of business activities, interactions across value activities are called linkages.
What was Porter's model of business activities?
A tool for analyzing a company's competitive environment is Porter's Five Forces Framework. It uses industrial organization economics to extract five forces that control the level of competition and, consequently, the profitability of an industry.
Five Forces in Porter the competition's model
The threat of brand-new competitors.The threat of using different goods or services.supplier bargaining strength.Buyer bargaining strength.The rivalry between contemporary rivals.The goal of Porter's Five Forces Model is to assess a market, or business sector potential's for profit. According to Michael Porter, there are five forces that have the ability to affect each business sector.
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The theory of rational expectations indicates that households and businesses’ expectations change ________ and therefore ________ the effectiveness of monetary or fiscal policy.
The theory of rational expectations indicates that households and businesses’ expectations change immediately and therefore preclude the effectiveness of monetary or fiscal policy.
What is the theory of rational expectations?This is the term that is used in Economics to refer to the fact that the individuals and the people are known to base their decisions on their experiences, available information and their ability to make rational decisions.
This theory tells us that people do not just act. They have to consider these factors first in order to make the best choice that they need. Hence the The theory of rational expectations indicates that households and businesses’ expectations change immediately and therefore preclude the effectiveness of monetary or fiscal policy.
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A manager pays $300 per month every month for landscape services for his restaurant grounds. Which type of monthly other expense is the amount paid for landscaping
Controllable and fixed are types of monthly other expenses are the amount paid for landscaping.
What do you suggest through carrier landscape?landscape services way offerings that result in a capital improvement to land other than systems of any kind in any respect, together with seeding, sodding, or grass plugging of new lawns; planting timber, shrubs, hedges, flowers; and clearing and filling the land.
A landscape includes the bodily elements of geophysically defined landforms including (ice-capped) mountains, hills, water our bodies inclusive of rivers, lakes, ponds, and the sea, dwelling elements of land cover which includes indigenous flora, human factors which include distinct types of land use, buildings, and structures,
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The three purposes for which individuals or groups can use products in order for it to be considered a business market are:_________
The three purposes for which individuals or groups can use products in order for it to be considered a business market are:
Resaleuse in daily operationsdirect use in producing other products.This is further explained below.
What is the market?Generally, A market is a location where individuals, often buyers and sellers, may congregate to assist the buying and selling of various commodities and services.
In conclusion, It is necessary for people or organizations to utilize items for at least one of the following three objectives for there to be a market for commercial goods and services:
On resale; for use in day-to-day activities; as a direct input into the production of other goods.
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Internal control procedures for cash disbursements (other than small disbursements from petty cash) should include that:_______.
Internal control procedures for cash disbursements (other than small disbursements from petty cash) should include that Segregate duties and Review authorized signors.
Internal control is a procedure implemented by a company's management, board of directors, and other staff members and is intended to give reasonable assurance that the information is accurate, timely, and reliable. of adherence to relevant laws, rules, agreements, policies, and procedures.
Internal control is a procedure for ensuring that an organization's objectives in operational effectiveness and efficiency, accurate financial reporting, and compliance with laws, rules, and policies are met, according to the definitions of accounting and auditing.
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The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies.
The statement "The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies." is false.
Sarbanes-Oxley Act placed the obligation of responsibility for a company's financial reporting squarely on the shoulders of its top executives in order to safeguard investors from corporate accounting fraud.
It required chief executive officers (CEOs) and chief financial officers (CFOs) to personally attest to the correctness of the information in financial reports and to affirm that controls and procedures were in place to evaluate and verify that accuracy.
In reality, CEOs and CFOs had to personally certify that financial reports complied with Securities and Exchange Commission(SEC) rules by signing them. Failure to comply with this might result in fines of up to $15 million and 20-year prison terms.
Hence, the given statement is false.
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Free samples, point-of-purchase displays, sweepstakes, and contests are examples of what imc strategy?
Free samples, point-of-purchase displays, sweepstakes, and contests are examples of IMC strategy of sales promotion.
This is further explained below.
What is sales promotion. ?Generally, Examples of IMC strategies for sales promotion include giving out free samples, putting up displays at points of sale, holding sweepstakes, and holding competitions.
In conclusion, Consumer and trade sales promotions are two different categories. While a trade campaign concentrates on organizational clients that may prompt rapid sales, a consumer sales promotion targets the consumer or end-user purchasing the goods.
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To avoid having ethical situations become problematic for a firm, the short-term goals of each employee must:______
To avoid having ethical situations become problematic for a firm, the short-term goals of each employee must be aligned with the long-term goals of the firm.
In order to avoid ethical situations which can later become problematic for a firm, an employee's short-term goals must be aligned with the long-term goals of the firm. As it helps to sustain employee motivation by helping employees measure the impact of their actions.
When personal goals are aligned with a firm's goal, an individual takes accountability of the tasks in hand. Thus, an individuals short-terms goals act as a milestone in their journey to reach the long-term goals of their life.
Hence, the short-term goals of an employee must be aligned with the long-term goals of the firm.
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Many companies use ________ to customize koozies for customers to use as inexpensive promotions
Many companies use 3D printing to customize koozies for customers to use as inexpensive promotions.
In marketing, advertising refers to any type of marketing communication used to educate the audience about the relative benefits of a product, service, brand, or problem, and is almost always compelling in nature.
Promotion refers to any activity that provides a product, brand, or service to a user. The idea is to attract people's attention to the product, attract it, and let them choose over other products. Description: There are different types of promotions.
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The definition of a(n) _________ is when our desired outcomes do not match the actual situation.
The definition of a problem is when our desired outcomes do not match the actual situation.
A problem is that situation which is unsatisfactory and causes difficulties for the people.
Problems are always uninvited and must be solved as earliest as possible. There must not be any gap between what is desired and what is got. This difference will give birth to problems of many types.
Because after solving the problems the desired results would be obtained.
It can be the problem of unemployment, poverty, low per capita income, heavy population pressure over the economy.
Problems could be solved by inspection at first or by using different problem solving techniques such as sample testing, taking different surveys to collect data about the problem so that is could be solved as early as possible.
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What is the core content included in each section of the report?
Title page, Table of contents, Executive summary, Introduction, Discussion, Conclusion, Recommendations and References are the core content included in each section of the report.
A report is a written document that organizes information for a particular audience and use. Complete reports are nearly always supplied in the form of written papers, despite the fact that summaries of reports may be given verbally.
Report writing is a formal way of writing in-depth about a subject. Reports always have an official tone. Always consider who the intended audience is before writing a section. Writing a report about a school event, a business case, etc. are a few examples.
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Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $1,600 per unit, of which $1090 is product cost and $510 is selling and administrative expenses. In addition, the total cost of $1,600 is made up of $910 variable cost and $690 fixed cost. The desired profit is $320 per unit. Determine the markup percentage on total cost. fill in the blank 1 %
Based on the cost of making the product to Jamison Company, and the desired profit, the markup percentage on total cost is 20%.
What is the markup percentage?The markup percentage on total cost can be found as:
= Desired profit / Total cost
Solving gives:
= 320 / 1,600 x 100%
= 0.2 x 100%
= 20%
In conclusion, the markup percentage is 20%.
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Household production, such as baking bread at home, is not included in gdp because it.
Household production, such as baking bread at home, is not included in GDP because it does not involve a market transaction.
What exactly is a market transaction?
The trading of commodities and services on a market. When calculating gross domestic product, the set of market transactions that take place in the economy is crucial (GDP). Market transactions offer the fundamental information that the Bureau of Economic Analysis' number crunchers use to start estimating GDP.
These number crunchers' objective is to assess economic production rather than merely market transactions. As a result, they boost economic production while removing those market transactions that do not entail it.
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A journal with a debit and credit column for recording transactions is known as a___________.
A journal with a debit and credit column for recording transactions is known as a General journal. All other financial reports are built on top of journal entries. They offer crucial data that auditors use to assess how financial transactions affect a corporation. A diary is an example of a journal because it allows you to record your thoughts and events.
Scholarly, popular, and trade periodicals are the three categories into which the majority of journals and magazines fall. General ledger, which is then used to produce financial statements of a business, is created using entries in an accounting journal.
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Arguing that globalization is ultimately driven by joint gains from mutually beneficial trade is an argument from which perspective
Arguing that globalization is ultimately driven by joint gains from mutually beneficial trade is an argument from the liberal perspective.
What does the liberal viewpoint entail?Liberal beliefs regarding the nature and purpose of law are centered on defending individual freedom. Liberals, following John Stuart Mill, argue against enforcing morality on the grounds that the use of coercion or control is not justified by society's conception of what is ethically appropriate. According to the liberal perspective, acts that damage or wrong people but to which they consent—often referred to as victimless crimes—are not properly criminalized. Thus, for a liberal, the border between the sex that ought to be criminalized and sex that shouldn't is the line between uninvited sex and sex that ought to be allowed.
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A British grocery chain uses previously obtained U.S. dollars to purchase apples from the United States. This transaction
A British grocery chain uses previously obtained U.S. dollars to purchase apples from the United States. This transaction increases British net capital outflow and increases U.S. net exports. This is further explained below.
What is a grocery chain?Generally, Fresh or packaged food is sold at grocery stores, which are sometimes known as "grocery shops" (AE), "grocery stores" (BE), or simply "grocery" (AE).
In conclusion, Apples from the U.S. are purchased by a British supermarket chain using U.S. money that was previously purchased. This deal raises net capital outflow from the United Kingdom and boosts net exports from the United States.
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During the summer of 2014, uber cut the price of its uberx service 20-25 percent. the success of such a pricing strategy depends on:_____.
a. an increase in the demand for rides.
b. the demand for rides being highly inelastic.
c. the demand for rides being highly elastic.
d. the demand for rides being unit elastic.
The correct answer the demand for rides being highly elastic.
When demand is very elastic, lowering the price leads to an increase in overall income. The elasticity of demand is the change in demand that occurs when another economic component, such as price or income, changes.
Inelastic demand occurs when the demand for a commodity or the service stays constant despite price changes. Elastic commodities include luxury items as well as some foods and beverages because price variations impact demand. An elastic demand curve is one in which the amount sought for a particular commodity is responsive to price fluctuations.
Therefore, the correct answer is c. the demand for rides being highly elastic.
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The Titan retires a $25.9 million bond issue when the carrying value of the bonds is $21.3 million, but the market value of the bonds is $27.3 million. The entry to record the retirement will include:
In year 1, Heron Corp. has depreciation expense for income statement purposes of $10,000. The depreciation deduction on the tax return was $14,000. The enacted tax rate is 30%. Heron's pretax income for the year was $80,000, and its taxable income was $76,000. If this is the only difference between pretax income and taxable income, the journal entry to record tax expense for the year would include which of the following entries? a) debit tax expense of $22,800
b) credit deferred tax liability of $4,000
c) debit tax expense of $24,000
d) credit taxes payable of $22,800
e) credit deferred tax liability of $1,200
________ is the most expensive form of marketing communication
Personal selling is the most expensive form of communication in marketing, costing more to reach each individual customer than other forms of advertising and promotions.
Personal selling is a face-to-face selling technique in which salespeople use their interpersonal skills to convince customers to buy a particular product. The seller tries to highlight the different features of the product to convince the customer that he will only add value. However, getting a customer to buy a product is not what drives an individual's sales all the time. Usually, companies try to follow this approach with customers to make them aware of a new product.
Personal selling is an essential sales tool for selling complex and technical services that require human touch, personalization, persuasion, and prompt communication.
It is common for high-priced items to use personal selling because it helps the company to inform and convince customers to use personalized selling methods to gain more trust.
It is also considered an important promotional tool in B2B sales because these sales involve fewer leads and high transaction costs.
Personal selling provides a detailed explanation or demonstration of a product. This capability is particularly desirable for complex or novel goods and services. Sales messages can vary depending on the motivations and preferences of each potential customer.
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