There is no industry which can not relay on estimation, all industries needs estimation.
The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.
Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.
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Securities of which of the following issuers are federal covered? Bonds of an issuer whose common stock is listed on the NYSE Bonds of an issuer whose common stock is listed on the NYSE American LLC (formerly known as the American Stock Exchange) Stock listed on the Nasdaq Stock Market Registered investment company securities
All securities of an issuer whose common stock is listed on any national exchange, such as the NYSE (New York Stock Exchange) or the NYSE American LLC (formerly known as the American Stock Exchange), or the Nasdaq Stock Market are exempt from state registration, including any securities of the same issuer senior to such securities.
What are Stocks?A stock, usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle its owners to a share of the company's assets and income in proportion to the number of shares they possess. Most individual investors' portfolios are built on stocks, which are mostly bought and sold on stock exchanges. Government standards designed to shield investors from dishonest tactics must be followed during stock trades. In order to raise money to run their operations, corporations issue stock, and the holder of that shares, known as a shareholder, may be entitled to some of the company's assets and earnings.Based on the total market capitalization of its listed securities, the New York Stock Exchange (NYSE), a stock exchange in New York City, is the largest equity-based exchange in the world. All registered investment company securities are exempt from state registration.
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ndirect materials are part of: a. prime costs b. factory overhead costs c. traceable costs d. both (a) and (b) e. both (b) and (c)
Indirect materials are part of: factory overhead costs.
What is Factory overheads?
Factory overheads are the aggregate of indirect materials, labor, and other costs that cannot be identified conveniently with the articles produced or services rendered.
The benefits arising from these costs cannot be associated with a specific cost unit. Instead, they are apportioned across the cost units on an equitable basis.
Overheads are an element of cost but they are a supplementary cost and cannot be directly added to a particular job.
Examples of Factory Overheads
Examples of items included in factory overheads include:
Factory expenses (e.g., rent, rates, insurance, water, heat, and electricity)Factory maintenance (e.g., cleaning, servicing, repairs, oiling, and greasing)Depreciation of factory plant and machinery and buildingsWages and salaries (other than direct labor) of persons engaged in the factory (e.g., foremen, supervisors, maintenance staff, factory administrative or clerical staff, testers, and examiners)Consumable stores and all forms of indirect material (i.e., material that cannot be traced as part of the finished product, such as oils and greases, small tools, cleaning materials, and minor spare parts for repairs)Therefore, we can conclude that the correct option is B.
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Unearned fees appear on the
Unearned fees are a current liability that is presented on the balance sheet.
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A customer persona or archetype is a generalization or caricature intended to represent:.
A customer persona or archetype is a generalization or caricature intended to represent : -
The one we would like to help , The right response is option D
What is a Customer persona and how its significant?A buyer persona is a fictionalized portrayal of the ideal client. It is based on market analysis, real customer data, and a few (informed) assumptions. It assists you in comprehending and connecting with the audience you wish to promote your goods and services to.Not only do personas allow you to design your offerings with a specific target in mind, but they also give you information to help market your services. This will ultimately translate into new customers, more sales, and higher revenuePersonas are essential to a product's success because they influence design choices by bringing common user demands to the fore of planning before design has even begun. Personas provide the team a common knowledge of the skills and goals of users.
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Correct Question - A customer persona or archetype is a generalization or caricature intended to represent
a) the one who is most likely to switch from a competitor's offering.
b) the one who represents the largest market segment.
c) the one with the greatest ability to pay for a solution.
d) the one you would like to help
Easy points and will give brainliest. Would you rather have a lower premium and higher deductible OR a higher premium and lower deductible? Explain.
Answer:
higher premium and lower deductible
Explanation:
Some countries let the foreign exchange market determine the relative value of its currency. this is called a:________
Some countries let the foreign exchange market determine the relative value of its currency this is called a Floating Exchange.
What is the role of Floating exchange?
A floating (or flexible) exchange rate is one that is established by the unrestricted interaction of foreign exchange supply and demand.
The demand curve for foreign currency is dipping downward. The price of imported items in local currency rises in direct proportion to the exchange rate. Lower demand for the foreign commodity and consequently less foreign money result from the higher price.The foreign exchange supply curve is trending higher,
The overseas price of exported commodities decreases when the exchange rate rises, increasing both the demand for them and the supply of foreign exchange being offered in exchange for them.Hence, the correct answer is "Floating Exchange"
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Assume that the government places a $4 tax on each slice of cheesecake and that the new equilibrium price is $9. What is Regina's consumer surplus from cheesecake
Regina's consumer surplus from cheesecake is $1.
How to calculate Consumer Surplus?Consumer surplus = 1/2 x Demand at equilibrium x (Maximum price the buyer is willing to pay)
Without tax:
Regina is willing to pay = $8 - $5 equilibrium price = $3
With taxes:
Regina is willing to pay $8 - $7 equilibrium price = $1
What is consumer surplus?Consumers' surplus is a measure of consumer welfare and is defined as the excess of social valuation of product over the price actually paid. It is measured by the area of a triangle below a demand curve and above the observed price.
t is positive when what the consumer is willing to pay for the commodity is greater than the actual price. Consumer surplus is infinite when the demand curve is inelastic and zero in case of a perfectly elastic demand curve.
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Suppose that when the price of peanut butter falls from $5 to $4 per jar, the quantity of jelly purchased rises from 10 million jars to 15 million jars.
The cross-price elasticity of demand is -1.82
Calculate the cross-price elasticity of demand:
The formula to calculate the cross-price elasticity of demand is:
(92 -91)/[(02 + 91)/2]
Cross price elasticity
(P2- A)/[(P +P)/ 2]
(15-10)/ [(15+10)/2]
(4-5)/ (4+5)/2]
5/12.5
-1/4.5
0.4
-0.22
=-1.82
Therefore, the cross-price elasticity of demand is -1.82. Since the demand is negative
The goods are said to be Complements.
Your question is incomplete. Please read below to find the missing content.
Suppose that when the price of peanut butter falls from $5 to $4 per jar, the quantity of jelly purchased rises from 10 million jars to 15 million jars. Instructions: Round your answer to two decimal places and include a negative sign if appropriate. The cross-price elasticity of demand between peanut butter and jelly using the midpoint method is The goods are?
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Like other corporations, market sales corporation can extend its operations through:_______
a. a winding up.
b. a termination.
c. a dissolution.
d. a merger.
Like other corporations, market sales corporation can extend its operations through D. a merger.
What is a corporation?It should be noted that a corporation is an organization usually a group of people or a company that is authorized by the state to act as a single entity and recognized as such in law for certain purposes.
The advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital and the disadvantages of a corporation include it being time-consuming and subject to double taxation.
Here, like other corporations, market sales corporation can extend its operations through a merger. This will lead to more sales and revenue.
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A project manager is teaching one of her team members how to give and receive criticism. According to d. Quinn mills' eight good people management techniques, what is she doing?
According to D Quinn mills' eight good people management techniques, the team manager is trying to teach communication skills. The abilities you utilize when offering and receiving various types of information are known as communication skills. Examples include expressing fresh thoughts, emotions, or even an update on your project.
The four Cs of communication are listening, speaking, observing, and empathizing. Understanding the contrasts between face-to-face contacts, phone calls, and digital communications like email and social media is also beneficial. You can understand others and be understood by them if you have good communication abilities.
These may include, but are not limited to, offering and receiving constructive criticism, public speaking, and attentively listening during conversations.
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Firms that are able to effectively exploit their core competencies usually more easily achieve:
Firms that are able to effectively exploit their core competencies usually more easily achieve one of the main reasons why supply chain relationships are so important is the cost advantage or disadvantage that can be gained or lost within the supply chain, directly affecting a company's bottom line. i.e. their profit or loss.
A corporation is a community for short, a legal entity that is a collection of people with a specific purpose, natural, legal, or a mixture of both. Company members have common goals and work together to achieve specific goals.
A company is a legal entity formed by a group of individuals to conduct and operate a commercial or industrial business. A company may be organized in various ways for tax and financial liability purposes, depending on the corporate law of its jurisdiction.
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Question Content Area The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be
The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be (D)
Jan. 1 Inventory 1,500
Cash 1,500
What are journal entries?A journal entry is an act of keeping or producing records of any economic or non-economic transaction.An accounting journal, which shows a company's debit and credit balances, records transactions. The journal entry can be made up of multiple records, each of which is either a debit or a credit. Otherwise, the journal entry is termed unbalanced if the sum of the debits does not equal the total of the credits.Inventory purchase journal entry:
Say you purchase $1,000 worth of inventory on credit. Debit your Inventory account $1,000 to increase it. Then, credit your Accounts Payable account to show that you owe $1,000. Because your Cash account is also an asset, the credit decreases the account.Therefore, the journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be (D)
Jan. 1 Inventory 1,500
Cash 1,500
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The question you are looking for is here:
The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be
(A) Jan. 1 cash 1,500
Account receivables 1,500
(B) Jan. 1 Purchases 1,500
Account payable 1,500
(C) Jan. 1 Inventory 1,500
Office Supplies 1,500
(D) Jan. 1 Inventory 1,500
Cash 1,500
Outside of Hollywood, under-developed film industries found that low-budget, avant grade films were the most productive way to impact on international film culture. Group of answer choices True False
Outside of Hollywood, under-developed film industries found that low-budget, avant grade films were the most productive way to impact on international film culture. The statement is true .
The above statement is true because the audience can challenge and examine their perceptions of what they see by watching avant-garde movies.
The movies usually don't have a clear purpose. The movies investigate temporal, spatial, dream, fantastical, and perceptual themes. The majority of the movies are creative, odd, distinctive, and even a little terrifying. Many of the movies are upsetting, startling, and in poor taste.
The experience of viewing a movie entails more than just passively taking everything in. The films' significant departure from tradition presents a challenge to the viewer.
What are the characteristics of avant-garde movies?These qualities can be found in almost all of these movies:
A low-budget experimental movie, usually made with their own moneyNon-traditional, usually non-linear narratives that are told from the point of view of the director without any overt messages.Usually an experimental film that makes deliberate use of the medium to produce bizarre, dream-like scenes.respects politics, culture, and art. Lyrical or poeticaccentuate studies of surrealism, abstraction, and impressionismKnow more about avant-garde https://brainly.com/question/4534902
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You have connected your laptop to the network using a cat 5e cable but received an ip address of 169.254.13.52 and cannot connect to www.perscholas.org. what is most likely the cause of this issue?
Assuming you have connected your laptop to the network using a cat 5e cable but received an ip address of 169.254.13.52 and cannot connect to www.perscholas.org. The most likely the cause of this issue is: dhcp failure.
What is DHCP?DHCP which full meaning is Dynamic Host Configuration Protocol can be defined as a type of network protocol that makes it possible for internet user to have connection when accessing a website.
When Dynamic Host Configuration Protocol failed this means that DHCP failed to assign an internet protocol (IP) address to your computer leading to lack of connection or inability to access the internet.
Therefore assuming you have connected your laptop to the network using a cat 5e cable but received an ip address of 169.254.13.52 and cannot connect to www.perscholas.org. The most likely the cause of this issue is: dhcp failure.
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A fixed cost is: A. associated with any productive resource whose price is fixed. B. any cost which increases proportionately with output. C. any cost which a firm would incur even if output was zero. D. associated with all inputs whose short-run supply is perfectly inelastic.
A fixed cost is option(c) i.e, any cost that a firm would incur even if the output was zero.
What is a fixed cost?Fixed costs typically refer to expenses that are calculated based on time rather than the volume of goods or services that your company produces or sells. Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs. There are some taxes that are fixed costs as well, such as company licenses.
The fact that fixed costs are simple to budget is their biggest advantage. These prices are predictable throughout the course of each month, so you won't need to adjust your spending plan in the event that production surges.
The whole fixed cost will be provided by Adding up your variable costs and dividing by the number of units you generated to get your total cost of production.
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The auditors include an emphasis-of-matter paragraph in an otherwise unmodified report on the entity's financial statements to emphasize that the entity being reported on had significant transactions with related parties. The inclusifis considered a qualification of the opinion.on of this separate paragraph
The auditors include an emphasis-of-matter paragraph in an otherwise unmodified report on the entity's financial statements to emphasize that the entity being reported on had significant transactions with related parties. The inclusive considered a qualification of the opinion. One of these separate paragraphs is appropriate and would not otherwise affect the unmodified opinion.
Accounting Statements: What Are They?The business operations and financial performance of an organization are described in financial statements, which are written records. To ensure accuracy and for tax, financing, or investing purposes, financial statements are frequently audited by government entities, accountants, corporations, etc. Financial statements include the
balance sheetearnings statementCash flow reportWhat Are the Three Financial Statements That Are Most Important?
The balance sheet, income statement, and cash flow statement are the three most crucial financial statements. These three statements collectively display a company's assets, liabilities, revenues, expenses, and cash flows from financing, investing, and operating operations.
What Constitutes the Major Items in Financial Statements?
The line items in a financial statement might vary depending on the organization, but the most typical ones include cash, marketable securities, inventories, short-term debt, long-term debt, accounts receivable, accounts payable, and cash flows from investing, operating, and financing operations.
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Which of the following is true regarding an emergency exit plan? It visually identifies the locations of all AED machines It is located in all closets in a building It clearly labels all exit and entry doors, stairwells, and elevators It clearly identifies the location of the manager's office
Option C. The truth about the emergency exit is that It clearly labels all exit and entry doors, stairwells, and elevators.
What is the emergency exit?This is the door or gate that leads outside of a building. The emergency exit is very useful in buildings.
The reason for this is due to cases of serious emergencies such as fire outbreak or other issues.
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When skilled labor is plentiful, plenty of land is available, and there is an abundance of building materials. What usually happens
When skilled labor is plentiful, plenty of land is available, and there is an abundance of building materials. What usually happens is an increase in the construction of buildings.
What is skilled labor?This is one of the factors of production. It is the manpower and the physical strength that is needed in the production of goods and services.
When it is in abundance as well as other factors, people would build more house and other forms of construction.
When skilled labor is plentiful and the amount that is paid for labor is fair, more people would be willing to build houses and engage in other forms of construction
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English language learners (ells), who are typically immigrant children, are at a greater risk for lower socioemotional and academic outcomes. Which factor least influences these outcomes?
A study of the growth of English language learners (ELLs) in first-time kindergarten students (N = 19,890) from kindergarten through eighth grade was conducted.
Growth curve analyses showed that, when other factors were held constant, ELLs continued to improve at a steeper rate on these social/behavioral outcomes than their native English-speaking peers.
In kindergarten, teachers rated ELLs more favorably on approaches to learning, self control, and externalizing behaviors than native English speakers did.
Depending on the grade at which English competence is reached, ELLs and native English speakers achieve reading and math skills differently.
To be more precise, ELLs who were proficient by the time they entered kindergarten kept up with native English speakers in both reading and math initially and over time.
ELLs who were proficient by the time they entered first grade had modest gaps in reading and math achievement compared to native English speakers that either narrowed or persisted over time.
Learning English before entering kindergarten is associated with superior cognitive and behavioral results through the eighth grade for students whose first language is not English.
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Flexible Budgeting At the beginning of the period, the Fabricating Department budgeted direct labor of $72,000 and equipment depreciation of $18,500 for 2,400 hours of production. The department actually completed 2,350 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.
The budget for the department is $89,000.
A flexible budget is a finance that adjusts to the interest or quantity levels of a company. Unlike a static price range, which does not exchange from the amounts installed whilst the budget turned into created, a flexible budget continuously "flexes" with an enterprise's variations in expenses.
Flexible finances will include strains for one-of-a-kind quantities. As instance, if your manufacturing of widgets is a hundred steps per month, your variable admin prices can be $2 hundred per month. however, if your production of widgets is 2 hundred in line with the month, your variable admin expenses would boom to $400.
A flexible price range is one based on distinctive volumes of sales. A bendy price range flexes the static budget for every predicted level of manufacturing. This adaptability lets in control to estimate what the budgeted numbers might seem like at diverse levels of income.
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Threadless allows customers to submit their own designs and to vote on which designs they would like to see printed on a T-shirt. This business uses
In the given case where Threadless allows customers to submit their own designs and to vote on which designs they would like to see printed on a T-shirt. This business uses a crowdsourcing technique.
Crowdsourcing is the process of gathering data, viewpoints, or creative output from a large number of individuals, typically online.
Through the use of crowdsourcing, businesses may access individuals with a variety of skills and viewpoints from around the world while also saving time and money.
Crowdfunding, in contrast to crowdsourcing, is used to raise money to help individuals, nonprofit organizations, or start-up businesses.
Cost reductions, speed, and the opportunity to collaborate with people who possess abilities that an internal team might lack are all benefits of crowdsourcing.
Hence, This business uses a crowdsourcing technique.
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In the early 2000s, easy credit made real estate the investment of choice in the United States. By the end of the decade, however, a recession had set in, impacting almost all businesses in the country. This example shows that _____.
This example shows that economic boom periods can overheat and lead to speculative bubbles.
A Speculative Bubble: What Is It?
A speculative bubble is characterized by a rapid, dramatic price increase that is driven more by market momentum and mood than by underlying fundamentals.
Fundamentals like significant profit growth or hopes of future market dominance at first fuel the speculation, but these fundamentals are eventually overtaken by other factors that don't reflect the real value of the company or industry.
Prices rise when investors rush to buy, thinking that prices will rise further and that if they don't buy, an opportunity will pass them by.
Fundamentals eventually overtake momentum, the bubble bursts, the stock tanks, and prices fall back to their pre-bubble levels.
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Revenues, gains, and investments by owners are all increases in net assets. what are the distinctions among them?
Investments by owners differ from revenues and gains, as in that they represent transfers by owners to the entity, and they do not arise from activities intended to produce income.
Revenues are increases in assets resulting from a business. Gains are increases in assets from out of the ordinary activities. Thus, investments by owners differ from revenues and gains.
Both revenues and gains can be considered as income or part of the income. Revenues differ from gains, as in that they arise from the entity's ongoing major or central operations. Gains arise from incidental transactions.
Hence, revenues, gains, and investments by owners are all increases in net assets.
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On december 5, z-mart purchased $1,800 worth of merchandise. on december 7, z-mart returned $800 worth of merchandise. on december 8, it paid the balance in full after taking a 2% discount. the amount of the payment was multiple choice $1,000 $1,600
If it paid the balance in full after taking a 2% discount. The amount of the payment is $980.
Amount of paymentUsing this formula
Cash payment= (Purchased value - returned goods) × (1 - discount rate)
Let plug in the formula
Cash payment= ($1,800 - $800) × (1 - 0.02)
Cash payment= $1,000 × 0.98
Cash payment= $980
Therefore The amount of the payment is $980.
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The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 20Y1 July 1 Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 20Y1, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Dec. 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 20Y2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Dec. 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 20Y3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) Required: 1. Journalize the entries to record the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles. 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 20Y2. 3. Determine the carrying amount of the bonds as of December 31, 20Y2.
Based on the bond price, the interest payments, and the periods, the journal entries by Winklevoss Inc. will be:
Date Account details Debit Credit
Jul 1, 20Y1 Cash $63,532,267
Discount on bond payable $10,467,733
Bonds payable $74,000,000
________________________________________________________
Dec, 31 Interest expense $4,331,693
Discount on bond payable $261,693
Cash $4,070,000
________________________________________________________
Dec, 31 Income summary $4,331,693
Interest expense $4,331,693
Date Account details Debit Credit
June, 30 interest expense $4,331,693
20Y2 Discount on bonds payable $261,693
Cash $4,070,000
________________________________________________________
Dec, 31 interest expense $4,331,693
20Y2 Discount on bonds payable $261,693
Cash $4,070,000
________________________________________________________
Dec, 31 Income summary $8,663,386
Interest expense $8,663,386
________________________________________________________
Date Account details Debit Credit
June, 30 Bonds payable $74,000,000
20Y3 Loss on redemption $ 7,940,961
Discount on bonds payable $9,420,961
Cash $72,520,000
What are the journal entries for callable bonds?Discount on bonds payable:
= 74,000,000 - 63,532,267
= $10,467,733
Cash 31 Dec:
= 74,000,000 x 11% x 0.5
= $4,070,000
Cash 30 June 20Y2
= 74,000,000 x 11% x 0.5
= $4,070,000
Cash 31 Dec 20Y2:
= 74,000,000 x 11% x 0.5
= $4,070,000
in 20y3, the bonds were redeemed which is why the Bonds payable account was debited because as a liability account, it is debited to show a decrease.
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What is the effect on the money supply when you sell your shares of microsoft stock? increase m1 no effect on m1 decrease m1 increase m2 decrease m2
The correct option is (b) No effect on M1. When you sell Microsoft Stock, you will receive cash or transfer of cash from the opposing party.
The total amount of money and other liquid assets in an economy on the measurement date is known as the money supply. Both cash and deposits that can be accessed virtually as easily as cash are roughly included in the money supply.
Through a mix of their central banks and treasuries, governments issue coin and paper money. By imposing reserve holding requirements on banks, dictating how to grant credit, and handling other monetary issues, bank regulators have an impact on the amount of money that is available to the general people.
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Answer:
No effect on M1
Explanation:
A cantilever beam has a length L and is loaded by a triangularly distributed load of maximum intensity q0 at B. (Solve this problem by integrating the differential equations of the deflection curve. The beam has constant flexural rigidity E I.)
The Deflection due to Triangular load is 11q₀L⁴/120EI.
What is Deflection in a beam?The amount of displacement that a specific structural member can experience with the aid of a sizable amount of load is known as deflection. It may also be known as the angle or the separation. The slope of the deflected shape of the body under a load directly affects the distance that a member will deflect under that force. By integrating the function that is used to characterize the slope of the member under that load, it can be calculated.A beam is a long segment of a body that can support a load while defying bending. Beam deflection is the term for the movement of a beam when a force is applied to it in a specific direction.Deflection due to reaction (R)(σ₂) =
RL³/3EI
σ₁ = σ₂⇒ 11q₀L⁴/120EI
= RL/3EI= R
= 11q₀L/40
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Fetneh is a salesperson with abc brokerage. she writes purchase offers on two different properties for her investor buyer client. both offers call for an earnest money deposit of $2,000. her client writes one check for $2,000 to abc brokerage. fetneh makes two copies of the same check for the offers to be presented to the respective sellers. is this appropriate
If fetneh makes two copies of the same check for the offers to be presented to the respective sellers. No, it is not appropriate.
Who is a salesperson?A salesperson can be defined as someone whose responsibility is to market product to buyer so as to boost sales.
Hence, it is not appropriate based on the fact each offer have to be accompanied by each earnest money funds.
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A customer purchases on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays within the discount window, how much will they remit in cash to the seller
They will remit in $1200 to the seller.
Credit SalesCredit sales are transactions in which the debt will be paid in full at a later time. In other words, credit sales are transactions when the consumer does not pay in whole, in cash, at the time of the transaction.
Cash sales, credit sales, and advance payment sales are the three basic types of sales transactions. The timing of when cash is received is the only distinction between these sales transactions.
1. Sales made in cash: When a transaction is made and the customer receives their goods or services, cash is collected.
2. Credit sales: After the sale is made, the customer has a certain amount of time to pay the vendor.
3. Sales involving advance payments: Buyers pay the vendor in full before closing the deal.
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A charge for the use of money, usually figured as a percentage of the principal is called?
A charge for the use of money, usually figured as a percentage of the principal is called interest.
Simple interest is a very easy and quick method for calculating the interest charge on a loan.
Simple interest is calculated by multiplying the daily interest rate with the principal by the number of days that elapse between payments.
This type of interest is generally applied to automobile loans or short-term loans where the loans are for less than 12 months time period, whereas some mortgages also use this calculation method.
Simple interest benefits all the consumers who pay their loans on time or early each month because with this no additional amount gets added.
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