The cause-and-effect link between spending and income is the foundation of the matching principle, one of the Generally Accepted Accounting Principles (GAAP).
What is the matching principle in accounting?Any incurred business costs must be reported in the same period as corresponding revenues, according to this requirement.Any incurred business costs must be reported in the same period as corresponding revenues, according to this requirement. In other words, it explicitly accepts the fact that a corporation must incur costs in order to generate income.The matching principle, which establishes the procedures and timing for balance sheet adjustments, is the foundation of accrual accounting. The expenses can be recorded immediately without altering entries if there is no cause-and-effect connection leading to relevant future revenue.To Learn more About matching principle Refer To:
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which of the following statements is/are true regarding the effect of revenues on the equity of a business?
Option e is correct. Income increases wealth. Income reduces equity and results from the cost of doing business.
Equity is one of the three main sections of the balance sheet. His two remaining sections are Assets and Liabilities. Equity is calculated as the difference between the values of assets and liabilities. Equity (also known as net worth, equity, or net worth) is the amount of ownership in a business after assets are subtracted from liabilities. It shows the amount of capital a company has available for activities such as investments.
Accounts payable are liabilities owed by a business, such as: B. Loans, Liabilities, Mortgages. An asset is anything a company owns. B. Cash, cars, intellectual property.
Debt has priority over equity because it must be paid off first. Subtracting your liabilities from your assets tells you how much you would actually have if you paid off all your liabilities. Knowing an owner's equity is important because it helps you evaluate your finances. You can also compare an owner's assets from one period to another to see if they have increased or decreased in value. This will help you make decisions. Whether it should be extended. You must also present the owner's shares to investors and lenders when seeking financing.
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The complete question is:
which of the following statements is/are true regarding the effect of revenues on the equity of a business?
a) Revenues increase the equity of an organization.
b) Expenses decrease the equity of an organization.
c) Net income (less any dividend payments) increases the equity of an organization.
d) Net losses decrease the equity of an organization.
e) Statements a,b,c, and d are all correct.
FILL IN THE BLANK the term_______ refers to the large amount of ad messages to which domestic consumers are exposed on a daily basis.
The term Noise refers to the large amount of ad messages to which domestic consumers are exposed on a daily basis.
Any marketing initiatives or content that detracts from a brand's main message is referred to as noise marketing. "Noisy" can apply to an excessive number of marketing emails, social media adverts, or TV commercials that many find overwhelming and mildly annoying.
Noise is a barrier that hinders or lessens the effectiveness of communication in the workplace. The sender's ability to communicate the message to the recipient may be hampered by noise. Additionally, the receiver's end noise may interfere with how they perceive the message. Advertising, public relations, personal selling, and sales promotions are all tactics that are used to generate a "buzz" and make useful marketing noise.
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adjustments in the stance of monetary policy are communicated as a change in which of the following? a. ffr b. iorr c. ioer d. on rrp
Adjustments in the stance of monetary policy are communicated as a change in FFR.
Option A is correct.
How is monetary policy implemented and defined?Monetary policy's primary function is to either increase or decrease the economy's overall demand for goods and services. Unemployment is more likely to rise and inflation is less likely when overall demand decreases in relation to the economy's capacity to produce goods and services.
The central bank's macroeconomic policy is referred to as monetary policy. The government of a country uses demand-side economic policy to achieve macroeconomic goals like inflation, consumption, growth, and liquidity. It involves managing the money supply and interest rate.
What main characteristics does monetary policy have?A central bank uses monetary policy to maintain a level economy, reduce unemployment, safeguard the value of the currency, and maintain economic growth.
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the following information appears in the records of becker corporation at year-end: accounts receivable $32,000 retained earnings $ ? accounts payable 12,000 supplies 8,000 cash 7,000 equipment, net 145,000 common stock 115,000 a. calculate the balance in retained earnings at year-end. and show your calculations below. $ b. if the amount of the retained earnings at the beginning of the year was $38,000 and $13,000 in dividends is paid during the year, calculate net income for the year. and show your calculations below.
The balance in retained earnings at year-end is $25,000.
Net income for the year -$0
What is income?Income is money or other forms of payment earned by individuals or businesses. Income can come from multiple sources such as wages, salaries, investments, rent, pensions and government benefits. Income can be used to purchase goods and services, pay bills and taxes, and save or invest. It is important to note that not all income is money; income can also include goods or services that are exchanged for money.
A. Balance in retained earnings at year-end = Beginning Retained Earnings + Net Income - Dividends
= $38,000 + Net Income - $13,000
= $38,000 + Net Income - $13,000 = $25,000
B. Net Income = Retained Earnings at Year-End - Beginning Retained Earnings + Dividends = $25,000 - $38,000 + $13,000 = -$0
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A municipal syndicate manager wishes to bid on a $100,000,000 municipal offering, even though his syndicate normally bids on issues of up to $50,000,000. The manager may do all of the following EXCEPT:A. join with another syndicate to bid on the issue, with both syndicate managers acting as co-managers
B. allow additional participants into the syndicate account
C. ask the syndicate members to increase their participation
D. bid on 1/2 the issue
(D) bid on 1/2 the issue is the correct option for, A join with another syndicate to bid on the issue, with both syndicate managers acting as co-managers.
The manager may do all of the following EXCEPT bid on 1/2 the issue.
A. joining with another syndicate to bid on the issue, with both syndicate managers acting as co-managers is a possible solution, this will allow the manager to access more capital, and the expertise of another syndicate.
B. allowing additional participants into the syndicate account, this is a possible solution that will increase the amount of capital available to bid on the issue.
C. asking the syndicate members to increase their participation, this is also a possible solution, if the members are willing to increase their participation, the manager will have more capital available to bid on the issue.
D. bidding on 1/2 the issue is not a viable solution, as the manager may not have enough capital to bid on the full issue and it will not be enough to win the bid.
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Josephine is wanting to try out her new marketing campaign on a live audience before the campaign is launched nationally
As Josephine wants to try out her new marketing campaign on a live audience before the campaign is launched nationally, she could play clips of the marketing campaign to people in a mall and observe the reaction of the people in real-time.
What are importance of marketing campaign?Marketing campaigns that are effective can be game changers. A good marketing campaign can break through the clutter and distinguish your business from your competitors, whether you are a small business owner trying to build brand awareness or an existing company launching a new product in the market.
Marketing campaigns can help you raise brand awareness and reach new customers. They also inform your target market about new products and services, help to build your reputation, and engage customers. In other words, they are critical for any business.
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Carnegie Mellon's SEI model, ESI International's project framework, and the Center for Business Practices all call their highest level of maturity:
A) continuous improvement.
B) optimizing.
C) ganbei.
D) comprehensive.
Carnegie Mellon's SEI model, ESI International's project framework, and the Center for Business Practices all call their highest level of maturity continuous improvement.
Why do you use the word "business"?The actions and endeavors of a person engaged in the business of creating or providing goods or services with the intention of doing so for profit are likewise considered to be business. Definition in business. The term "business" designates an innovative person, group, or organization that engages in commercial activity. They might be business-related, industrial, or something else.
What type of business is the simplest to launch?The most basic type of company is a sole proprietorship. A sole proprietorship is a business structure where one individual is in charge of all revenue and debt.
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A recent study found a change in consumer taste and preference as it relates to breakfast choices. In the study, it found people are switching from cereal to yogurt. Draw the supply and demand graphs as it relates to cereal. Show changes in price and quantity demand (increase, decrease, or indeterminate) as it relates to cereal.
Instructions:
Graph the change in the supply and demand curves. Show changes in price and quantity demand (increase, decrease, or indeterminate). Assume similar elasticities-slope steepness of supply and demand curves.
The demand for cereal decreases and the price decreases, while the supply of cereal increases and the quantity supplied indeterminate.
What factors could have caused the shift from cereal to yogurt for breakfast choices?1. Health consciousness: People are becoming more aware of the importance of healthy eating, leading to a shift away from sugary cereals and towards lower-sugar, higher-protein options like yogurt.
2. Emerging trends: Yogurt is becoming increasingly popular as a breakfast choice, due to its convenience, health benefits, and variety of flavors and textures.
3. Availability: Yogurt has become more widely available in supermarkets, convenience stores, and fast-food restaurants, making it an easy and accessible option for busy people.
4. Cost: Cereals are often more expensive than yogurt, making it a more economical choice for those on a tight budget.
5. Taste: Yogurt has a milder taste that appeals to a wider range of palates, whereas some people may find cereal to be too sweet or too bland.
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Each property has unique features, whether it is its age, the building design of its structures, or its location. As such, real estate markets consist of assets that are considered: a. heterogeneous b. substitutes c. homogeneous d. complements
Correct answer is heterogeneous.
A heterogeneous mixture is a combination of two or more compounds. Examples are: combos of sand and water or sand and iron filings, a conglomerate rock, water and oil, a salad, trail mix, and concrete (not cement).
Which is a heterogeneous mixture?A heterogeneous combination is a mixture in which the composition is no longer uniform for the duration of the mixture. Vegetable soup is a heterogeneous mixture. Any given spoonful of soup will contain varying amounts of the distinctive vegetables and different factors of the soup.
Which is heterogeneous device *?An example of a heterogeneous device is ice, water and steam. This device has three homogeneous bodies, steam, water and ice. The chemical composition of the three phases is the same, however their bodily properties differ drastically.
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https://brainly.com/question/520185#SPJ4A ________ is a grouping of individual indirect cost items. A) cost allocation base B) cost assignment C) cost pool D) job-costing system
Individual indirect cost elements are gathered together in cost pools.
Why are cost pools used?Due to how simple it is to assign charges to specific goods and services, cost pools are mostly employed in the manufacturing industry.When compared to traditional costing techniques like the cost of products sold, adopting the cost pool method enables you to allocate costs at a highly-detailed level to understand exactly where your money is being spent and further pinpoint how much is spent to develop and sell each product.You will be able to grasp each activity's cost much more clearly if you use these strategies. Afterward, you can adjust as necessary.With the usage of cost pools, you may, for example, allocate expenses depending on labor, customer service, inspections, and order processing as well as machine hours, rather than only on labor costs.
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Prepaid insurance is a(n) ______.
A. liability in the balance sheet
B. expense in the income statement
C. expense in the balance sheet
D. asset in the balance sheet
Prepaid insurance is an expense in the balance sheet.
Prepaid insurance refers to payments made in advance by individuals and corporations to their insurers for insurance services or coverage. Premiums are typically paid a year in advance, although in rare situations, they may cover more than a year. These payments appear on an insurance company's balance sheet as a current asset when they are not used up or expired. A prepaid expense is one that a company or individual pays for before utilizing it. Prepaid insurance is a type of prepaid cost. When someone buys prepaid insurance, the contract usually covers a specific time period in the future. Prepaid insurance is typically considered a current asset since it is converted to cash or used in a very short period of time. However, if a prepaid cost is not utilized within a year of payment, it becomes a long-term asset, which is a rare event.
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which of the following are the major provisions provided by the post-katrina emergency management act of 2006?
As part of the preparation efforts for Emergency Support Functions (ESFs) response operations, requirements for the establishment of pre-scripted mission assignments are only a few of the key provisions that PKEMRA has supplied.
When was Gohsep produced?The GOHSEP was initially accredited in 2007, and its certification was later renewed in 2012 and 2018. EMAP recognizes the ability of State and local governments to coordinate people, resources, and communications across a range of agencies and organizations in order to prepare for and respond to an emergency and to quantify such capacities.
Bush approved the Post-Katrina Emergency Reform Act on October 4, 2006. As a result of the act, FEMA underwent significant reorganization and was granted the power to fix any holes in Hurricane Katrina response efforts.
What initiatives did the US government launch after Hurricane Katrina?The three main programs in which HUD was involved in the storm Katrina recovery were the CDBG-DR program, including Disaster Housing Assistance Program (DHAP), as well as the renovation of New Orleans Public Housing.
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blossom elects to use the far value option for these investments. assuming that blossom's net income is $99,000 in 2025 before reporting any securities gains or losses, determine blossom's net income for 2025. assume that the difference between the carrying value and fiar value is due to credit deterioration.
Blossom's net income for 2025 would be $99,000. The difference between the carrying value and fair value due to credit deterioration would not affect Blossom's net income for 2025.
The gains or losses from the securities investments would depend on the difference between the carrying value and fair value of the investments. If the fair value is higher than the carrying value, then Blossom would have a gain on the investments. Conversely, if the fair value is lower than the carrying value, then Blossom would have a loss on the investments. If the difference between the carrying value and fair value is due to credit deterioration, then Blossom would have a loss on the investments. Net income (NI), also called net earnings, is calculated as deals minus cost of goods vended, dealing, general and executive charges, operating charges, deprecation, interest, levies, and other charges. It's a useful number for investors to assess how important profit exceeds the charges of an association.
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When is mortgage interest a tax deduction expense if it’s available in the current regulations?
Based on contemporary regulation rates, the mortgage interest is a tax-deductible expense if it’s available for the loan below or equal to the amount of $750,000.
What is Mortgage Interest?Mortgage Interest is a term that is used to describe the interest charged on a loan used to purchase a piece of property.
Generally, the mortgage interest is the amount of interest owed and it is calculated as a percentage of the total amount of the mortgage issued by the lender.
From another perspective, Mortgage interest is typically a tax-deductible expense for homeowners who itemize their deductions. The deduction is available for mortgage interest paid on a loan secured by a primary residence or second home, up to a maximum loan amount of $750,000.
Hence, in this case, it is concluded that the correct answer is a mortgage loan below or equal to the amount of $750,000.
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in a closed economy with lump sum taxes, if the marginal propensity to consume increased from 0.5 to 0.75, the simple spending multiplier and the marginal propensity to save (mps) would change min which of the following ways?
The simple spending multiplier would decrease and the marginal propensity to save (MPS) would increase.
In a closed economy with lump-sum taxes, if the marginal propensity to consume (MPC) increases, the simple spending multiplier, which is calculated as 1 / (1 - MPC), will decrease. This is because an increase in the MPC means that a larger portion of any increase in income will be spent on consumption, leaving less to be saved. As a result, the multiplier effect of any injection of income will be smaller.
On the other hand, the marginal propensity to save (MPS), which is calculated as 1 - MPC, will increase. As the MPC increases, the proportion of income saved will decrease, leading to an increase in the MPS.
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Which of these is the best reason for Nina to maintain up-to-date and accurate records of her bank accounts? To know how much money she has for budgeting.
To know how much money, she has for budgeting is the best reason for Nina to maintain up-to-date and accurate records of her bank accounts.
What is budgeting?
The tactical execution of a company strategy is budgeting. A fully descriptive business plan with performance indicators and measurements is necessary to accomplish the objectives of a company's strategic strategy. So that we reach the intended goals, we may then make adjustments along the route.
Your aims, such as raising the average amount each consumer spends at your retail establishment, are essentially your objectives.
Then, you create one or more strategies to help you reach your objectives. The business may boost consumer spending by increasing its product options, finding new suppliers, promoting its services, etc.
You must monitor and assess the strategy' efficacy using pertinent metrics.
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Which of the following do asymmetric cryptosystems provide? Check all that apply. Non-repudiation. Confidentiality is provided by the encryption and decryption functionality, while authenticity and non-repudiation are ensured by the signing and verification processes.
Answer:
Increased data security is the primary benefit of asymmetric cryptography. It is the most secure encryption process because users are never required to reveal or share their private keys, thus decreasing the chances of a cybercriminal discovering a user's private key during transmission.
You are doing a print mail advertising campaign. The cost to print 1,000 postcards is $1,100. The cost to print 10,000 postcards is $1,900. What is the marginal (extra) cost per postcard for the last 9,000 postcards? (Round to the nearest penny)
The marginal (additional) cost per postcard for the final 9,000 postcards is $0.09.
In manufacturing, research, retail, and accounting, a cost is a monetary value that is no longer available because it was used to produce something or provide a service. In economics, an acquisition cost can be an acquisition cost. In this case, the amount spent on the acquisition is considered the acquisition cost. Money, in this case, is a bet to get the thing. This acquisition cost may be the sum of the production costs incurred by the original producer and the price paid to the producer plus additional transaction costs incurred by the acquirer. Prices usually also include a manufacturing cost markup.
A generalized cost in the field of economics is a measure that accumulates as a result of a process or as a difference in the outcome of a decision. Cost is therefore a metric used in standard modeling paradigms applied to economic processes.
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in a shareholder-manager relationship, who is the agent?which of the following can be used to encourage managers to act in the best interests of shareholders?
The finance manager in a major company is generally in charge of... Financial aspects of operations, like collecting accounts receivable. Financial choices. decisions about long-term investments.
The CEO, who is in charge of a company's management, receives authority from the BOD. Managers are concerned with their own financial security, reputation, pay, job security, and other perks. The conflict between shareholders and them may emerge from a potential loss of money for the shareholders.
Managers are concerned with their own financial security, reputation, pay, job security, and other perks. The conflict between shareholders and them may emerge from a potential loss of money for the shareholders. Managers may have a tendency to compromise between increasing shareholder value and their personal level of satisfaction.
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-Which of the following demonstrates a project manager keeping the project in scope? Select all that apply.
a. The key stakeholder has had to meet with the project manager several times to define the project scope. The project manager is delaying meetings and is unclear about project tasks.
b. The key stakeholder meets with the project manager to set the scope and deliverable agreements in writing. The project manager keeps the key stakeholder informed while communicating with project team members.
c. The key stakeholder and the project manager clearly define the project scope in the initial planning stage. The project manager documents all the details to be referred to throughout the project life cycle.
d. The key stakeholder clearly states the project needs to be completed in six months and must stay within scope. The project manager has not been able to keep the project on schedule and has yet to inform the key stakeholder of the delay.
As part of the planning process, project scope management is a method that aids in identifying and recording a list of all the project's objectives, deliverables, due dates, and budgets.
What is a project scope in project management ?In order to determine and record all of the project's objectives, deliverables, due dates, and budgets, project scope management is a method that is used throughout the planning stage. During the course of a large project, changes are frequently made; this is normal practice in project management.
Defining and capturing a list of detailed project objectives, deliverables, tasks, costs, and deadlines constitutes the project scope phase of project planning. Term of reference or a scope statement refers to the written description of a project's scope.
Project scope management includes the following steps: gathering requirements, defining scope, developing a WBS (work breakdown structure), validating scope, and controlling scope.
Therefore, the correct answers are:
b. The key stakeholder meets with the project manager to set the scope and deliverable agreements in writing. The project manager keeps the key stakeholder informed while communicating with project team members.
c. The key stakeholder and the project manager clearly define the project scope in the initial planning stage. The project manager documents all the details to be referred to throughout the project life cycle.
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when you make a measurement, you cause wavefunction collapse, and the particle falls into one of several possible states instantly, and this can only be predicted in terms of a probability.
In quantum mechanics, wavefunction collapse happens whilst a wave feature—first of all in a superposition of numerous eigenstates—reduces to a unmarried eigenstate because of interplay with the outside world.
This interplay is known as an observation, and is the essence of a dimension in quantum mechanics, which connects the wave feature with classical observables including function and momentum. Collapse is one of the techniques with the aid of using which quantum structures evolve in time; the opposite is the non-stop evolution ruled with the aid of using the Schrödinger equation. Wavefunction collapse is a black field for a thermodynamically irreversible interplay with a classical surroundings.
Calculations of quantum decoherence display that once a quantum device interacts with the surroundings, the superpositions seemingly lessen to combinations of classical alternatives. Significantly, the blended wave feature of the device and surroundings hold to obey the Schrödinger equation in the course of this obvious disintegrate. More importantly, this isn't sufficient to provide an explanation for real wave feature disintegrate, as decoherence does now no longer lessen it to a unmarried eigenstate.
Historically, Werner Heisenberg become the primary to apply the concept of wave feature discount to provide an explanation for quantum dimension.
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given the following information, determine the cost of goods sold for the period. date jan 1; beginning inventory; $950 jan 1-30; purchases; $1800 jan 31; ending inventory; $250 multiple choice question. $2,500 $1,100 $3,000 $250
The cost of goods sold for the period is $2,500. Therefore, the correct option is A.
Given the information: Beginning Inventory = $950, Purchases from January 1 to January 30 = $1800, and Ending Inventory on January 31 = $250
The formula for calculating cost of goods sold (COGS) is:
COGS = Beginning Inventory + Purchases - Ending Inventory
Putting values,
COGS = $950 + $1800 - $250
COGS = $950 + $1550
COGS = $2500
The cost is the amount of money or resources required to produce or get a given commodity or service. Raw materials, labor, administrative charges, transportation costs, and any other costs associated with the manufacturing or procurement process can all be categorized as cost.
Thus, the ideal selection is option A.
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The complete question might be:
given the following information, determine the cost of goods sold for the period. date jan 1; beginning inventory; $950 jan 1-30; purchases; $1800 jan 31; ending inventory; $250 multiple choice question.
A $2,500
B $1,100
C $3,000
D $250
To maintain good working relationships in negotiations, managers and other involved parties should strive for ____
Answer:
"Build a relationship in negotiation by asking questions, then listening carefully. Even if you have decided to make the first offer and are ready with a number of alternatives, you should always open by asking and listening to assess yur counterpart's interests."
A business owner decides to give all her employees a living wage and benefits, including any new employees. Which social responsibility stance is this? 1. Accommodating, 2. Proactive, 3. Defensive 4. Obstructionist
Social obligations are worried about the liability of businesses that is towards the general public that incorporates: well moral and ethical commitments and activities for better tasks. Ways to deal with social obligation are :
1. Obstructive: In this, an organization takes obstructive stands towards the social obligation and doesn't meet its social obligation, rather focusing on creating gain.
2. Protective: In this system, an organization might view itself as nonpartisan and create a gain significant rationale that drives their activity that might incorporate extreme wastage of assets.
3 Obliging: it means that the organization is having confidence in friendly obligation and attempting to create gain by fulfilling all the moral and lawful necessities.
4. Proactive: A proactive methodology implies an organization is more inclined towards its social obligation and making it need .this is finished by making the moral mission more significant than benefit makings.
The right response is: proactive
As these are deliberate practices adjusted by businesses to effectively and the board of social obligation to upgrade its development and improvement in the public eye and benefit. at the point when entrepreneurs choose to give wages to workers, this shows a more prominent need to society.
Hence option (2) is correct.
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When Barrett opened his auto body shop, his business plan included a(n) ________ that showed the relationships among employees in his organization and the lines of authority and responsibility.
O pareto chart
O organization structure
O line organization
O organization chart
When Barrett opened his auto body shop, his business plan included a(n) organization chart that showed the relationships among employees in his organization and the lines of authority and responsibility.
An organizational chart is an illustration that visually conveys a company's internal structure by detailing the places, liabilities, and connections between individualities within a reality. It's one way to fantasize about bureaucracy.
An association map of a company is a visual representation of its reporting structure. It defines the hand relationship scale of an association and the alignment matrix of brigades. Org maps illustrate hand designations, reporting directors and further.
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question 5 a company that makes a software product wants to grow their customer base. which of the following is a specific marketing goal for this company?
A customer base is essential for a brand. Provide consistent and regular support to your brand in the form of revenue. Whether they love your product, understand your message, or enjoy being part of your brand community, these people are loyal and will help you out for your competitors.
Customer base is the group of customers to whom a company sells and sells goods and services?Companies study their customer base to optimize their products and services and increase sales. Businesses can grow their customer base and increase sales.
Consumer-Based Strategy is an organizational strategy developed based on consumer insights. Such strategies are based on consumer wants and needs (e.g. Lam et al. 2013; Olson 2013), the costs consumers bear in purchasing and owning goods and services.
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listed below are several transactions that took place during the first two years of operations for the law firm of perez associates. year 1 year 2 amounts billed to clients for services rendered $ 176,000 $ 226,000 cash collected from clients 163,000 193,000 cash disbursements: salaries paid to employees for services rendered during the year 93,000 103,000 utilities 31,500 43,000 purchase of insurance policy 60,900 0 in addition, you learn that the firm incurred utility costs of $36,500 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period. required: 1 & 3. Calculate the net operation cash flow from year 1 and 2 and determine the amount of receivables from clients that the firm would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model. 2. Prepare an income statement for each year according to the accrual accounting model.
20300 is an income statement for each year according to the accrual accounting model.
What is Accrual accounting?
A transaction's income or expense is recorded when it happens, rather than when a payment is paid or received, under the accounting system known as accrual accounting.
Revenues and expenses should be recognized in the same period under the matching concept, which is followed by the technique.
Year 1 Year 2
Cash collected from Customers 163000 193000
Payments:
Salaries paid -93000 -103000
Utilities -31500 -43000
Insurance policy -60900
Net Operating cash flow -22400 47000
Account receivable 13000 46000
1st year is 176000 -163000=13000
2nd year (13000+226000-193000)=46000
Income Statement
Year 1 Year 2
Revenue 176000 226000
Expenses
Salaries 93000 103000
Utilities 36500 38000
Insurance 20300 20300
Net income 26200 64700
Note : 2nd Year Utilities , unpaid utilities (36500-31500) = 5000 then utilities is 43000 -5000= 38000
Insurance for 3 years 60900 , then each year 60900/3= 20300
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built-tite uses job order costing. the t-account below summarizes factory overhead activity for the current year.
Direct materials, direct labor, and overhead must be assigned to each manufacturing unit in order to use job order costing.
Give an example to define job order costing.Consider this: Consider a scenario where a consumer purchases shoes that are personalized with their name on the sides and cotton shoelaces as opposed to standard nylon. A company would use task order costing to develop a special pricing to charge the customer for their custom-made shoes because this order is unique.
What does the job cost Mcq?When a business performs tasks or jobs to fulfill specific customer requests, job costing is applied. When it comes to task costing, batch costing is comparable since each batch of related items is identified independently. over at MCQs.
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1. Are traditional bureaucracies set up to provide custom-made products to individual consumers? Could they be, or is it always better to have customer-oriented teams design such products?
Answer:
Traditional bureaucracies are not typically set up to provide custom-made products to individual consumers. It is usually more beneficial to have customer-oriented teams design such products, as they are better able to understand the needs and preferences of the customer and create something specifically tailored to them.
Explanation:
Based on the following data, would Beth and Roger Simmons receive a refund or owe additional taxes? (LO3.2) Adjusted gross income, $42,140 Credit for child and dependent care expenses, $400 Amount for personal exemptions, $11,850 Itemized deductions, $12,240 Federal income tax withheld, $6,686 Tax rate on taxable income, 10 percent
Based on the following data, Beth and Roger Simmons would receive a refund or owe additional taxes which amounts $ 2472.
Calculating the problem:Adjusted gross income= 42,120
tax payable 4,214
federal tax withheld 6,686
refundable amount (6686-4214) 2472
What constitutes gross income?Your wages, dividends, capital gains, business income, and retirement distributions are all included in your gross income. Educator expenses, interest on student loans, alimony payments, and contributions to a retirement account are examples of income adjustments.
How can I determine my gross income?Alternately, you can determine your gross income by multiplying the number of hours you'll work in a month by your hourly pay rate or by your monthly salary before taxes.
Learn more about gross income:
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