According to the given question, Is the rate of inflation within the economy decreasing? is an example of a microeconomic issue.
What exactly is microeconomics?Microeconomics is the area of finance that examines how people make choices and allocate funds as individuals, businesses, and families. Both supply and demand are two examples of microeconomic variables.
Who is the basic economics father?Although academics were making financial findings long before Adam Johnson published The Wealth of Peoples in 1776 and the subject of economics began the with observations of the early economists, such as the Scottish philosophy often regarded as the founder of economics.
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what four essential functions of management do all managers perform, regardless of their level, organization size or type, or what country they work in? (check all that apply.)
The four essential functions of management do all managers perform, regardless of their level, organization size or type, or what country they work in are: Controlling, Planning, Organizing and Leading.
The management process by which we pursue goals includes planning, organizing, leading, and controlling. These are “the how” a manager pursues organizational goals, and are universally known as the four functions of management.
Leading consists of motivating employees and influencing their behavior to achieve organizational objectives. Leading focuses on managing people , such as individual employees, teams and groups rather than tasks.Proper planning without control is futile, this is because a blue print may have been put in place in the planning process but it becomes imperative for management to set up institutions or machineries to ensure that plans are executed as expected and there are remedial actions or plans in place in the event when unexpected events come up to distort achievement of the goal.
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question content area volume upclosed captiondescriptionsettingsfullscreen question content areaeconomists say that the allocation of resources is efficient if a.consumer surplus is maximized. b.total surplus is maximized. c.sellers' costs are minimized. d.producer surplus is maximized.
Economists say that the allocation of resources is efficient if the total surplus is maximized. So option b. is correct. Resource allocation is the method of assigning and managing assets in a manner that supports an organization's strategic planning goals.
Resource allocation incorporates managing substantial assets such as hardware to make the promising use of softer assets such as human capital. Resource allocation affects balancing contending needs and priorities, and determining the adequate course of action to maximize the benefit of limited resources and get the fairest return on investment. In practicing resource allocation, organizations must foremost select their desired goal, such as improved revenue, enhanced productivity, or better brand recognition.
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which pair of issues from the bulleted list above (the first four mainly for the business community, the second four mainly for the protestors) could the mayor suggest that the two sides negotiate as an area of common interest? (from the mayor's point of view, in this immediate crisis, this would be a stasis.) select an answer and submit. for keyboard navigation, use the up/down arrow keys to select an answer. a reduction of customer traffic to area businesses and first amendment (speech) rights of protesters b inconvenience to business owners and employees getting to work and police harassment c unsanitary condition of public property and lack of public bathroom facilities d unseemliness of large population of homeless tent dwellers and police harassment
Take, for example, the two funda- mental, conflicting dilemmas of a negotiation: the predicament of honesty and the dilemma of have confidence (Kelley, 1966).
The quandary of honesty concerns how trustworthy each birthday celebration must be with the other.
What are the 3 motives negotiations occur?Negotiations show up for countless reasons: (1) to agree on how to share or divide a constrained resource, such as land, or money, or time; (2) to create something new that neither birthday celebration may want to do on his or her own, or (3) to unravel a hassle or dispute between the parties.
What are the principal social factors in negotiation?A negotiator have to apprehend the social context of the negotiation. Negotiation occurs in a context of rules, such as customs, habits, situations, cultural norms, non secular doctrine, laws, and political pressures.
What are the four kinds of dilemma?In LDRS 111 you were added to four one-of-a-kind moral quandary paradigms: fact vs loyalty, short-term vs long-term, person vs community, and justice vs mercy.
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during the evaluation of alternatives stage, consumers rely on a set of formalized steps to arrive at a decision. this type of decision making is called:
This type of decision making is called as rational decision making.
In order to optimise the quality of their outcomes, decision-makers should take a number of steps that are described in the rational decision-making model. In other words, following the formal processes of the rational decision-making model may make sense if you want to ensure that you make the best decision. A decision-making process centred on selecting decisions that produce the greatest possible profit or utility is referred to as rational behaviour. An economic theory called rational choice theory makes the assumption that people behave rationally. Since the gratification could be solely emotional or non-monetary, rational activity may not include obtaining the greatest monetary or material advantage.
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which function refers to acquiring and retaining human resources? controlling planning staffing organizing decision making
Staffing is the component of the management process dealing with obtaining, developing, hiring, assessing, remunerating, and keeping people so that the correct sort of people.
are available in the company at the right roles and at the right time. Human resource management (HRM) staffing is the activity of personnel recruiting, screening, and selection undertaken inside a corporation to fill job positions. Because staffing is a leadership function, this relates to directing in management. Human resource planning ensures that personnel and occupations are a good fit while preventing manpower shortages or surpluses. The HRP process consists of four major phases. They include assessing current labor supply, anticipating labor demand, balancing predicted labor demand with supply, and assisting in the achievement of organizational goals.Because staffing is a leadership function, this relates to directing in management. Human resource planning ensures that personnel and occupations are a good fit while preventing manpower shortages or surpluses.
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Which one of these is a cash outflow from a corporation?
a) sale of common stock
b) issuance of debt
c) profit retained by the firm
d) sale of an asset
e) dividend payment
An example of cash outflow for a corporation is e) dividend payment
What is a cash outflow ?Due to the different liabilities that a firm incurs when conducting business, the process of moving money outside the company is known as a cash outflow.
Cash might leave a corporation in a number of ways, such as employee salaries, office rent, electricity costs, or dividend payments to shareholders. In theory, it operates in a completely different manner than cash inflows, which is the transfer of money into the company.
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sunk costs are costs that are incurred select one: a. regardless of which decision is made. b. only for some decisions. c. if a particular decision is made. d. if a particular decision is not made.
A) Costs that are incurred regardless of the choice are known as sunk costs.
What Is a Sunk Expense?A sunk expense is cash that has previously been spent and can't be recuperated. In business, the maxim that one needs to "burn through cash to bring in cash" is reflected in the peculiarity of the sunk expense. A sunk expense varies from future costs that a business might confront, for example, choices about stock buy expenses or item evaluating. Sunk costs are barred from future business choices since they will continue as before no matter what the result of a choice.
Is salary a wasted expense?Labor: Since there is typically no chance of cost recovery for these expenses, benefits costs, such as salaries and benefits, as well as contributions to retirement funds and health insurance, are considered sunk costs once they are paid out.
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Which is an example of a graduated repayment plan for student loans?
a. lower and increase every 1 years
b. lower and increase every 2 years
c. lower and increase every 3 years
d. lower and increase every 4 years
Option (A) is correct, lower and increase every 1 years an example of a graduated repayment plan for student loans.
What is a student loan and how will it work?A student loan gives you access to money with a modest monthly payback schedule, allowing you to pay for your education. These grants can assist you in paying for your tuition, registration fees, and other related expenses like lodging, books, or a computer you'll need it for your studies.
Student loans: Are They Beneficial?Students who otherwise wouldn't be able to go to college can now do so with the help of student loans. A credit history is not required to be eligible for a student loan. Compared to private loans, student loans frequently have cheaper interest rates.
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busy corp. prepared the following reconciliation between pretax accounting income and taxable income for the year ended december 31, year 2: pretax accounting income $250,000 taxable income (150,000) difference $100,000 analysis of difference: interest on municipal bonds $25,000 excess of tax over book depreciation 75,000 total $100,000 busy's current income tax rate for year 2 is 30%. the depreciation difference will reverse in equal amounts over the next three years at an enacted tax rate of 40%. in busy's year 2 income statement, what amount should be reported as the current income tax expense portion of its provision for income taxes?
The current income tax expense part of its provision for income taxes should be recorded at $45,000.
What exactly is income tax?An income tax is a tax levied on persons or companies (taxpayers) based on their earnings or profits. In most cases, income tax is calculated as the result of a tax rate multiplied by the taxable income. Taxation rates may differ depending on the taxpayer's attributes and the source of income. The tax rate may rise as taxable income rises (referred to as graduated or progressive tax rates). Corporate tax is a type of tax charged on businesses that are typically applied at a flat rate.
The current portion of the provision for income taxes includes both the current income tax cost and the year's income tax liabilities.
$150,000 x 30% =$45,000
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employer promises to pay retiree a $10,000 per year pension for the remainder of retiree's life in return for retiree's promise to pay employer $1 per year. retiree foreseeably relies on the promise by taking out a mortgage on a small vacation home. later employer, who never intended to pay the pension, unfairly reneges on his promise. employer's promise:
This situation describes a contract between the employer and retiree, in which the employer promises to pay the retiree a $10,000 per year pension for the remainder of the retiree's life in exchange for the retiree's promise to pay the employer $1 per year.
What is Breach of Pension Contract?When a company doesn't perform the obligations indicated in a retirement account or agreement they've formed with an employee, it is a breach of the pension contract. This may include failing to pay the appropriate pension plan contributions or failing to provide the employee with the promised pension benefits. In some circumstances, the employer may also modify the pension plan's conditions without the employee's approval or completely terminate the plan, which can also be viewed as a violation of contract.
Employees may be able to claim compensation for any damages sustained as a result of an employer's breach of a pension contract if they can demonstrate the breach. Included in this are any incremental charges incurred, such as lost pension benefits, and legal fees.
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Which one of the following careers is the most highly resistant to economic change?
1. Video Game Designers
2. Funeral Attendants
3. Fashion Designers
4. Airline Pilots
Answer:
2. Funeral Attendants
Explanation:
The demand for funeral attendants is relatively constant and not heavily impacted by economic change, as death is a natural occurrence that happens regardless of economic conditions. Funeral attendants provide a necessary service for families and communities. While other careers such as video game designers, fashion designers, and airline pilots can be affected by changes in technology, consumer preferences and travel restrictions, the services of funeral attendants are less likely to be impacted by economic fluctuations.
The following facts relate to Duncan Corporation.
1. Deferred tax liability, January 1, 2020, $30,000.
2. Deferred tax asset, January 1, 2020, $10,000.
3. Taxable income for 2020, $105,000.
4. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $230,000.
5. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $95,000.
6. Tax rate for all years, 20%. No permanent differences exist.
7. The company is expected to operate profitably in the future.
Instructions
(a) Compute the amount of pretax financial income for 2008.
(b) Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2008.
(c) Prepare the income tax expense section of the income statement for 2008, beginning with the line "Income before income taxes. "
(d) Compute the effective tax rate for 2008
The amount of pretax financial income for 2008 is $84,000. Income taxes payable for 2008 is $12,000. The effective tax rate for 2020 is 25%.
How do you compute the amount of pretax financial income?a) To compute the amount of pretax financial income for 2020, we need to calculate the income tax expense for 2020 and then subtract it from taxable income.
Income tax expense for 2020 = Taxable income * Tax rate
Income tax expense for 2020 = $105,000 * 20% = $21,000
Pretax financial income for 2020 = Taxable income - Income tax expense
Pretax financial income for 2020 = $105,000 - $21,000 = $84,000
b) To record income tax expense, deferred income taxes, and income taxes payable for 2020, the following journal entry would be made:
Debit: Income Tax Expense $21,000
Credit: Deferred Tax Liability $4,000
Credit: Deferred Tax Asset $3,000
Debit: Income Taxes Payable $18,000
The deferred tax liability and deferred tax asset are calculated as follows:
Deferred tax liability = Cumulative temporary difference giving rise to future taxable amounts * Tax rate
Deferred tax liability = $230,000 * 20% = $46,000
Deferred tax asset = Cumulative temporary difference giving rise to future deductible amounts * Tax rate
Deferred tax asset = $95,000 * 20% = $19,000
The deferred tax liability and deferred tax asset are then adjusted by the deferred tax liability and deferred tax asset at the start of the year:
Deferred tax liability = $46,000 - $30,000 = $16,000
Deferred tax asset = $19,000 - $10,000 = $9,000
So the deferred tax liability is $16,000 and the deferred tax asset is $9,000
The income taxes payable is the current income tax expense less the deferred tax asset:
Income taxes payable = $21,000 - $9,000 = $12,000
c) The income tax expense section of the income statement for 2020 would be as follows:
Income before income taxes $84,000
Income tax expense $21,000
Net income $63,000
d) To compute the effective tax rate for 2020, we need to divide the income tax expense by the pretax financial income:
Effective tax rate = Income tax expense / Pretax financial income
Effective tax rate = $21,000 / $84,000 = 0.25 or 25%.
So the effective tax rate for 2020 is 25%.
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What do we call a project whose cash flow stream begins with an inflow and is then followed only by cash outflows?
A project whose cash flow stream begins with an inflow and is then followed only by cash outflows is called an investment project or a capital investment project.
This type of project involves an initial outlay of cash, known as the investment or capital expenditure, which is used to purchase assets such as property, equipment, or inventory. The cash inflow generated by these assets is typically spread out over a period of time, in the form of revenue or other benefits. The cash outflows that follow the initial inflow, are the operating costs, the expenses to maintain the assets, and the depreciation.Examples of investment projects include building a new factory, purchasing new equipment, or investing in a new product line. The goal of these projects is to generate a positive net cash flow over the life of the investment, by generating revenue and creating value for the company.
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high roller incorporated is trying to decide whether to buy a private jet or to lease one. the finder's fee is incurred only if the private jet is bought. the finder's fee is what type of cost for this decision?
high roller incorporated is trying to decide whether to buy a private jet or to lease one. the finder's fee is incurred only if the private jet is bought . the finder's fee is relevant cost for this decision.
What is relevant cost?Any expense that is important to a choice is referred to as a relevant cost. If a decision results in a change in cash flow, the subject is relevant. Additional money that needs to be paid can alter cash flow. less money that needs to be paid. Relevant costs are those that a managerial choice will have an impact on. Costs that are irrelevant won't change whether you choose one course of action over another in the future. Overheads, sunk costs, and committed expenses are a few examples of irrelevant costs because they cannot be avoided.Only unavoidable expenses are significant. Whether or not decisions are made, fixed costs must be incurred. Sunk costs can't be recovered and are therefore useless.To learn more about relevant cost refer to:
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Waterway Corporation reported the following for 2020: net sales $1,227,300, cost of goods sold $734,700, selling and administrative expenses $332,700, and an unrealized holding gain on available-for-sale debt securities $16,800.
A) Prepare a statement of comprehensive income using one statement format. (Ignore income taxes and earnings per share. )
B) Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share. )
Total comprehensive income $176,700In the two statement format, the Income statement shows the income from operations and the Other comprehensive income statement shows the changes in equity that are not reported in the income statement. statement of A and B are:
A) Statement of comprehensive income (one statement format):
Net sales $1,227,300
Cost of goods sold $(734,700)
Gross profit $492,600
Selling and administrative expenses $(332,700)
Income from operations $159,900
Unrealized holding gain on debt securities available for sale: $16,800
Net income $176,700
B) Statement of comprehensive income (two statement format):Income statement:
Net sales $1,227,300
Cost of goods sold $(734,700)
Gross profit $492,600
Selling and administrative expenses $(332,700)
Income from operations $159,900
Other comprehensive income statement:
Unrealized holding gain on debt securities available for sale: $16,800
Total comprehensive income $176,700In the two statement format, the Income statement shows the income from operations and the Other comprehensive income statement shows the changes in equity that are not reported in the income statement, such as unrealized holding gain on available-for-sale debt securities. The Total comprehensive income is the sum of the income from operations and other comprehensive income.
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volunteers from state or private agencies who enforce fair housing by claiming to be home seekers, thereby finding out if brokers deal fairly with all clients/customers are referred to as who...?
These volunteers are known as undercover testers or fair housing testers.
Who are Undercover testers?Undercover testers are individuals who pose as potential home buyers or renters in order to investigate and uncover discrimination in housing. They work for state or private agencies that enforce fair housing laws and may be trained to recognize and document discriminatory behavior by landlords, real estate agents, or other housing providers. These testers often conduct their investigations by contacting landlords or real estate agents, inquiring about available properties, and providing information about their backgrounds, such as their race, national origin, religion, or other protected characteristics. Any discriminatory behavior that is observed or reported is then used as evidence to support a fair housing complaint or lawsuit.
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which statement describes a technique used to address the issue of ensuring the payment of adequate child support by a noncustodial parent when the parents of minor children are divorced? a) to prevent inflation from eroding the value of child support payments, the custodial parent must make periodic petitions to a court to increase such payments. b) to ensure that child support payments are continued if the noncustodial parent dies or becomes disabled before such payments are to cease, the parents must enter into a nuptial agreement. c) insurance on the life of the noncustodial parent must be owned by an irrevocable life insurance trust to prevent the noncustodial parent from changing the beneficiary. d) an irrevocable trust established and funded by the noncustodial parent to ensure payment of child support can be a valuable tool to protect such assets from the claims of future creditors of the noncustodial parent.
An irrevocable trust established and funded by the non-custodial parent to ensure payment of child support can be a valuable tool to protect such assets from the claims of future creditors of the non-custodial parent describes the technique.
What is an irrevocable trust?
An irrevocable trust is one that, once established, cannot be changed, amended, modified, or revoked. A property cannot be removed from an irrevocable trust after it has been put into one, not even the settlor.
What is an irrevocable trust's drawback?
A revocable trust cannot be used to avoid income or estate taxes when transferring assets. Lack of asset protection. Despite the fact that assets kept in an irrevocable trust are often protected from creditors, the same is not true of revocable trusts.
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which of the following should be considered when building a portfolio? check all that apply. a. market timing. b. credit card debt. c. ability and willingness to take risk. d. the length of time available for your assets to earn returns. e. a need for liquid assets (cash).
When building a portfolio - the length of time available for your assets to earn returns.
The correct option is d.
Understanding how various asset classes, funds, and weightings affect one another, their performance and risk, and how choices relate to an investor's goals is the process of portfolio design.
Any mix of financial assets, including stocks, bonds, and cash, is referred to as a "portfolio." Individual individuals may hold portfolios, or financial experts, hedge funds, banks, and other financial organisations may manage them.
A portfolio should be created taking the investor's risk appetite, time horizon, and investment goals into consideration. This is a widely acknowledged idea. The risk/reward ratio of the portfolio may be impacted by the monetary value of each item.
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form 8995 qualified business income deduction simplified calculation
The simplified calculation for form 8995 will be:
Profit - Qualified Business + Income on Form 8995 + 1/2 SE tax break+ payment guarantees + The amount you deduct for SE Health Insurance + Income under Section 199A + Contributions to a SEP.
What is Form 8995?The pass-through or Section 199A deduction, also known as the qualified business income (QBI) deduction, is claimed by owners of pass-through entities such as sole proprietorships, partnerships, LLCs, and S corporations using Form 8995 from the Internal Revenue Service.
To claim the pass-through deduction, using the simplified form can save a lot of paper. The business's qualified business income, potential deduction phaseouts, and the resulting deduction are all calculated using the expanded form 8995-A, which has four sections and four additional schedules.
Form 8995 is relatively simple. It only has 17 lines on one page. If your total taxable income before the qualified business income deduction is below the aforementioned threshold and you are not a patron of an agricultural or horticultural cooperative, you can use this simplified version.
It must use the more complicated form if your taxable income before the qualified business income deduction is above the threshold or if you patronize a cooperative.
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Pureform, Inc. , uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 77,000 $ 68,900 $ 31,500 $ 43,500 Units started in process 729,000 Units transferred out 750,000 Work in process inventory, ending 56,000 Cost added during the month $ 1,194,765 $ 288,660 $ 505,155 The beginning work in process inventory was 70% complete with respect to materials and 55% complete with respect to labor and overhead. The ending work in process inventory was 50% complete with respect to materials and 25% complete with respect to labor and overhead. Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Compute the first department's cost per equivalent unit for materials, labor, overhead, and in total for the month
Considering the indicated value Total 2.75 It creates a product that moves between two divisions.
How do you define a product?According to the definition, an item is the object that is being sold.Products can be either a company or an item. It can take the form of anything physical, digital, or cybernetic.Every commodity has a cost associated with it, as well as a price.The price that can be paid is influenced by the customer, their excellence, the promotion, and the target market.
Comparable units
Equivalent units
Materials Labor Overhead
Work in process inventory, 23,100.00 34,650.00 34,650.00
beginning
Units started and completed 6,73,000.00 6,73,000.00 6,73,000.00
Work in process inventory, 28,000.00 14,000.00 14,000.00
Equivalent units 7,24,100.00 7,21,650.00 7,21,650.00
First division initial department's cost per unit
Materials Labor Overhead Total
Current costs 11,94,765.00 2,88,660.00 5,05,155.00 19,88,580.00
Equivalent units 7,24,100.00 7,21,650.00 7,21,650.00
Price per Equal Unit 2.32 0.40 0.70 2.75
The equivalent units for materials, labor and overhead are as follows:
Equivalent units
Materials 724,000
Labor 721,650
Overhead 721,650
The price per unit in equivalent units is as follows as well:
Materials 1.65
Labor 0.40
Overhead 0.70
Total 2.75
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has the applicant held or does the applicant currently hold a visa to australia or any other country?
Yes, the aspirant may have held or presently hold a visa to Australia or any other country. A visa is a trip document issued by the government of a country that allows the holder to enter, stay and work within the country.
In order to gain a visa, the aspirant must meet certain conditions similar as furnishing evidence of identity, furnishing evidence of fiscal policy, and furnishing substantiation of their health status. Once the operation is approved, the visa will be valid for a certain period of time, generally over to 12 months, and can be extended if the aspirant meets fresh conditions.
The visa may also allow the holder to apply for endless occupancy and/ or citizenship. It's important to note that each country has their own unique visa conditions and processes, so it's important to probe and understand the visa conditions for the specific country they're applying.
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Categorize each scenario as describing a movement along a demand curve or a shift of the demand curve. Shift of the demand curve Movement along the demand curve Answer Bank 1. College students purchase many more energy drinks during finals week than during ther of the semester 2. College students reduce how much detergent they use for each load of laundry in response to higher detergent prices, 3. Students et out more often as the federal government increases how much grant money it provides students
Shift in the Demand Curve: College students buy a lot more caffeinated beverages during last week than they do the remainder of the semester; as the national govt grows, students dine out more frequently.
Demand? What do you mean?Desire is the user's decision to purchase a certain good or service. The desire for a specific good on the market is known as market demand. The entire demand for commodities and services inside the business is known as aggregate demand. The degree to which supply and demand are balanced determines how much a good or service will cost. recognising the idea of demand.
What is an example of full demand?For businesses, the ideal situation is full demand, where supply and demand are balanced. This indicates that consumers are spending money at the same rate as producers.
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1. who must take corrective action if an investigation confirms a harassment complaint has merit? the fire chief the company officer the eeo officer the authority having jurisdiction
The fire chief take corrective action if an investigation confirms a harassment complaint has merit.
Another way of showing that you are a good listener is to ask questions. Follow-up questions related to what the other person said can expand the conversation. Or you can ask them about something you didn't completely understand or are interested in learning more about. There are four psychomotor skill levels are initial, plateau, latency, and mastery. While we offer suggestions in this report for what EEOC can do to help prevent harassment, we caution that our agency is only one piece of the solution. Everyone in society must feel a stake in this effort. That is the only way we will achieve the goal of reducing the level of harassment in our workplace to the lowest level possible. This report, including the recommendations we set forth, could not have been prepared without the work of the Select Task Force on the Study of Harassment in the Workplace that was established by EEOC Chair Jenny Yang over a year ago.
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What are the four new rights the California Privacy Rights Act empowers California consumers with?
Californians have the right under the CCPA to equal services and rates, to be notified of data collection and rights, to have collected data released, destroyed, and to refuse to have their data sold to third parties.
What is personal information under the CCPA?According to the CCPA, personal information is anything that could directly or indirectly identify a person. Names, mailing addresses, social security numbers, IP addresses, cookies, search histories, and details about your location and health are all included in this.
Businesses that meet the CCPA's definition of a business are required to follow its regulations. The California Consumer Privacy Act (CCPA) defines a business as a company or for-profit organisation with annual gross revenues exceeding $25 million, 50% or more of annual revenues derived from the sale of consumers' private details, or purchasing, receiving, selling, or sharing the personal information of more than 50.000 California residents, household incomes, or devices each year.
Users must be able to exercise their CCPA rights through your website, for instance, by giving them information about your personal information collection practises, demonstrating how to request disclosure and deletion, and offering a clear "Do Not Sell My Personal Information" link that they can use to decide not to have their data sold to or shared with third parties.
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On December 31, Year 1 Adam Company incurred $3,000 of accrued salary expense. The Year 2 recognition of the cash payment for these expenses:
A. increases the amount of salary expense recognized in Year 2
B. decreases the amount of salary expense recognized in Year 2
C. increases the amount of liabilities shown on the Year 2 balance sheet
D. decreases the amount of liabilities shown on the Year 2 balance sheet
a Year 2 balance sheet's quantity of liabilities is decreased. Liabilities increased in Year 1 due to the recognition of accrued pay expense. Assets and liabilities drop in Year 2 as cash is paid to satisfy
Describe what you mean by liabilities.Both your duty for something and a debt you owe to someone else for products or services are referred to as liabilities. Two examples of the homeowner's tax liabilities are the sum of property taxes due to the city and the sum of income taxes due to the federal government.
What do equity and liabilities mean?In terms of finance, the main distinction between equity & liabilities is that, whereas liabilities are the debts or obligations a firm owes to third parties, equity reflects the ownership position that investors have in a corporation. Liabilities are taken out and assets are used to compute equity.
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caleb created a column chart that lists numbers from $50,000 to $0 on the left. what can he add to the chart to indicate that these are monthly revenue amounts?
Caleb can add the Vertical axis title to indicate monthly revenue amounts
The text labels that appear along a chart's horizontal and vertical axes are called axis labels. They can be used to provide descriptive information about the data or to specify the units of measurement for the data shown on the chart. In this instance, a nice method to show that the figures shown on the chart's left side correspond to monthly revenue amounts would be to add a vertical axis title.
In the case of Caleb, the terms Monthly Sales or Monthly Revenue must be straightforward and descriptive as the chart lists numbers from $50,000 to $0 on the left. This will make it easier for the viewer to comprehend the significance of the data and the size of the figures being displayed. If Caleb wanted to be more particular, he could also add a label to the horizontal axis that listed the months or the duration of the data.
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if the nominal interest rate is 18 percent and the real interest rate is 6 percent, the inflation rate is
The inflation rate must be 12% based on the nominal interest rate and real interest rate.
It can be found as:
= Nominal rate - Real interest rate
Solving gives:
= 18% - 6%
= 12%
Price increases, or inflation, may be thought of as the gradual loss of buying power. The average price rise of a selection of products and services over time can serve as a proxy for the pace at which buying power declines.
A unit of money now effectively has less purchasing power than it had in earlier periods due to the increase in prices, which is frequently stated as a percentage. Deflation, on the other hand, is characterized by a drop in prices and a rise in purchasing power.
Therefore, the inflation rate is 12%.
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when an accountant is not independent of an entity and is requested to perform a compilation of the entity's financial statements, the accountant:
C - May accept the engagement and should disclose both the lack of independence and the reason for the lack of independence is correct.
Because an accountant might accept the engagement, answer A is untrue.
Because the absence of independence needs to be disclosed, answer B is erroneous.
Because AR 100 says that an accountant may accept such an assignment and that the compilation report should reveal the loss of independence but not the cause of that lack of independence, answer C is the right one. If a CPA is asked to prepare an annual account but is not required to be independent of the client, the CPA is not permitted to accept the contract.
The complete question is:
When an accountant is not independent of a client and is requested to perform a compilation of its financial statements, the accountant
a) Is precluded from accepting the engagement.
b) May accept the engagement and need not disclose the lack of independence.
c) May accept the engagement and should disclose the lack of independence, but not the reason for the lack of independence.
d) May accept the engagement and should disclose both the lack of independence and the reason for the lack of independence.
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several public libraries in colorado were forced to close after inspectors found bathrooms had been contaminated by...
Tests conducted at several Colorado public libraries indicated hazardous levels of methamphetamine there, forcing the libraries to close.
What happen to the public library in Englewood?Following the shutdown in Boulder, the Edgewater Public Library shuttered last week after tests levels of meth were found there as well as many library sections that tested above permitted levels.
Why was the main Boulder library closed down?After staff saw drug use there in both November and December, the Colorado Main Library was closed for more than two weeks in late December after lavatory exhaust vents also revealed excessive amounts of methamphetamine. The facilities were among "the busiest in the city," according to the city.
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if a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is a. income inelastic. b. price inelastic. c. income elastic. d. price elastic.
If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is: Price elastic.
What is Price elastic?Price elasticity quantifies how responsively a good's supply and demand are to changes in price. It is calculated by dividing by the percentage change in price the percentage change in quantity demanded—or delivered. The quantity sought for a good is measured according to its price elasticity of demand. Almost all goods see a decrease in quantity demanded when prices rise, however certain goods experience this decrease more than others. Luxury products and particular foods and beverages are elastic goods because demand is influenced by price changes for them. Products like nicotine and prescription medications may be considered inelastic goods since demand for them frequently remains constant despite price fluctuations.
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