Answer: Planning is a thinking process while controlling is an executive function.
While planning involves creative thinking, imagination and sound judgement, controlling ensures that such decisions are converted into desired actions. Thus, planning is prescriptive, whereas, controlling is evaluative.
Explanation:
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Suppose that the current 1-year rate (1-year spot rate) and expected 1-year T-bill rates over the following three years (i.e., years 2, 3, and 4, respectively) are as follows:
1R1 = 3.26%, E(2r1) = 4.70%, E(3r1) = 5.20%, E(4r1) = 6.70%
Using the unbiased expectations theory, calculate the current (long-term) rates for 1-, 2-, 3-, and 4-year-maturity Treasury securities. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
The price offered for immediate settlement on an interest rate, commodity, security, or currency is known as the spot rate.
What is Spot rate?The price or return for the same product or asset at a particular future date is referred to as the forward rate, whereas on the other hand. A spot rate is typically used to describe the current price or bond return. The price of a product that is being exchanged immediately, or "on the spot," in the marketplaces for commodities futures is known as a spot rate.
1R1 3.26%
E(2r1) 4.70%
E(3r1) 5.20%
E(4r1) 6.70%
1R1 = 3.26%
1R2 = ((1+1R1)*(1+E(2r1)))^1/2-1
1R3 = ((1+1R1)*(1+E(2r1))*(1+E(3r1)))^1/3-1
1R4 = ((1+1R1)*(1+E(2r1))*(1+E(3r1))*(1+E(4r1)))^1/4-1
Spot rate
1R1 = 3.26% = 3.26%
1R2 = ((1+0.0326)*(1+0.0470))^(1/2)-1 = 3.98%
1R2 = ((1+0.0326)*(1+0.0470)*(1+0.0520))^(1/3)-1 = 4.38%
1R4 = ((1+0.0326)*(1+0.0470)*(1+0.0520)*(1+0.0670))^(1/4)-1 = 4.96%
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What do borrowers use to secure a mortgage loan? check all that apply. A credit carda down paymenta houselanda vehicle.
A mortgage is a contract between you and a lender that grants the lender the right to seize your property in the event that you're unfit to pay back the quantum you espoused plus interest.
Mortgage loans can be used to buy a property or to adopt plutocrat against the value of bone you presently enjoy. When used meetly, it can help you in earning plutocrat and raising your overall net worth. A mortgage is also among the least precious types of debt. Interest rates are low, and after using the mortgage deduction, you can pay indeed less because to civil and state duty impulses. You can precisely invest your plutocrat in long- term, diversified means rather than using it all to buy a house;
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Briefly explain whether production of each of the following goods is likely to fluctuate more or less than real GDP does during the business cycle:
a. Ford F-150 trucks
b. McDonald’s Big Macs
c. Whirlpool washing machines
d. Huggies diapers
e. Boeing passenger aircraft
Ford F-150 trucks are likely to fluctuate more than real GDP during the business cycle because of technology shocks. The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment.
What are the other goods that fluctuate the real GDP?A McDonald's Big Mac is likely to fluctuate less than real GDP because the production process does not require as much technology so it brings down the technology shock. Whirlpool washing machines are likely to fluctuate more than real GDP during the business cycle because of technology shocks.
The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment. Huggies diapers are likely to fluctuate less than real GDP because the production process does not require as much technology so it brings down the technology shock. Boeing passenger aircraft are likely to fluctuate more than real GDP during the business cycle because of technology shocks.
The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment.
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one of the differences between product layouts and process layouts is that unlike product layouts, process layouts:
One of the differences between product layouts and process layouts is that unlike product layouts, process layouts provide more flexibility.
What does "product layout process" mean?
A product layout, used in manufacturing engineering, describes a production system where the workstations and equipment are positioned along the line of production, much like with assembly lines. '
The majority of the time, a conveyor is used to transfer work units along a line—not necessarily a geometric line, but rather a group of connected work stations.
What distinguishes the product layout from the process layout?
The resources required to manufacture a product are organized in one line, according to the order of operations, in a layout style called a "product layout." When referring to a layout design, the term "process layout" means combining resources with similar processes or functions.
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In Canine Ville, the price elasticity of demand for dry dog food is 0.8 the income elasticity of demand for dry dog food is 0.2 and the cross elasticity of demand for dry dog food with respect to canned dog food is 0.6.
In Canine Ville, a package of dry dog food is _ good. In Canine Ville, dry dog food and canned dog food are
a. a normal; complements
b. an inferior; substitutes
c. a normal; substitues
d. an inferior; complements
From the price elasticity, the dry dog food is likely a necessary or normal goods, it also shows the consumer's incomes increase as their demand for dry food also increase.
What are dry dog food and canned dog food in Canine VilleIn Canine Ville, the package of dry dog food is a normal good. Dry dog food and canned dog food are substitutes.
This can be inferred from the given information:
The price elasticity of demand for dry dog food is 0.8, which is less than 1, indicating that dry dog food is a relatively inelastic product, meaning that consumers are not very responsive to changes in price. This suggests that dry dog food is likely a necessary or normal good.The income elasticity of demand for dry dog food is 0.2, which is positive, indicating that dry dog food is a normal good. This means that as consumers' incomes increase, their demand for dry dog food will also increase.The cross elasticity of demand for dry dog food with respect to canned dog food is 0.6, which is positive, indicating that dry dog food and canned dog food are substitutes. This means that if the price of canned dog food were to increase, consumers would likely switch to dry dog food as a substitute, leading to an increase in demand for dry dog food.Learn more on price elasticity here;
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which of the following activities is the best example of a project? group of answer choices A. writing a new book on project management B. processing insurance claims C. producing automobiles continually D .monitoring product quality
The activity is the best example of a project is writing a new book on project management. Option (a) is correct.
What is Project Management?Project management is the process of overseeing a team's activity to complete all project objectives within the established parameters.
Project documentation that is prepared at the start of the development process typically includes descriptions of this information. The three main restraints are budget, time, and scope. Optimizing the distribution of necessary inputs and using them to achieve pre-established goals is the secondary problem.
The goal of project management is to provide a finished product that meets the goals of the client. The goal of project management is frequently to modify the client's brief in order to effectively achieve the client's goals.
Therefore, Option (a) is correct.
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A creative, distinctive strategy that sets a company apart from rivals and that gives it a sustainable competitive advantage:
A. is the best indicator that the company's strategy and business model are well matched and properly synchronized.
B. is a company's most reliable ticket to above-average profitability.
C. signals that the company has a bold, ambitious strategic intent that places the achievement of strategic objectives ahead of the achievement of financial objectives.
D. is a reliable indicator that the company has a profitable business model.
a unique, innovative plan that distinguishes a business from rivals and gives it a long-term competitive edge: The most dependable employee in a corporation is B.
What is mean by being innovative?
Something innovative is new and original. If you love to experiment and find new ways to do things, you are an innovative person. Innovative, like nova, novel, and novice, comes from the Latin novus, which means new. Something innovative renews or alters the way something has been done.
Because innovation is arguably THE most important skill you can have, especially if you need to cross-market your skills or get a promotion. Every industry requires creativity, so if you want to be a hot commodity, in demand, and happily employed, you need to be innovative!
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A firm has fixed costs of $60 and variable costs as indicated in the table below. Complete the table
(Round your answers so that you enter no more than 2 decimal places)
Total Product Total Fixed Cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost
0 $60 0 1 45 2 85 3 120 4 150 5 185 6 225 7 270 8 325 9 390 10 465 Cost of Production:
Production typically involves both fixed costs and variable costs. Fixed costs do not vary with quantity of production, while variable costs typically increase with the quantity of production. A firm that maximizes profit is also minimizing the total cost of producing a given quantity of output.
Total ProductTotal Fixed CostTotal Variable CostTotal CostAverage Fixed CostAverage Variable CostAverage Total CostMarginal Cost0$600$60$600$6001$6045$105$6045$105452$6085$145$3042.5$72.5403$60120$180$2040$60354$60150$210$1537.5$52.5305$60185$245$1237$49356$60225$285$1037.5$47.5407$60270$330$8.5738.57$46.14458$60325$385$7.540.63$48.13559$60390$450$6.6743.33$506510$60465$525$646.5$52.575
Production typically involves both fixed costs and variable costs. Fixed costs do not vary with quantity of production, while variable costs typically increase with the quantity of production. A firm that maximizes profit is also minimizing the total cost of producing a given quantity of output.
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Suppose an economy produces only two goods, consumer goods and capital goods. Its current combination of production involves a higher level of capital goods than consumer goods. Which of the following can be inferred from this current choice on its production possibilities curve? That its ____ choice in production may result in ____ future prospects for economic growth.
Present
Higher
That its Present choice in production may result in Higher future prospects for economic growth.
What impact does a country generating more capital goods have?Consumables are produced by capital goods. When an economy produces more capital goods, it improves its technology and productivity. This implies that it will be able to produce more consumer items in the future at a cheaper cost.
What connection is there between capital and consumer goods?Capital goods are manufactured items that are utilized by a company to create consumer or other capital goods. Consumer goods are things that people buy and utilize. Buildings, equipment, and tools are examples of capital goods.
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Which of the following is a short hand, method of displaying journal entries and balances, general ledger, T accounts, natural balance, general journal
The short hand, method of displaying journal entries and balances is T accounts.
What is T accounts?A collection of financial records that employ double-entry accounting are referred to informally as T-accounts. Because of the way the bookkeeping entries are organized, the account is known as a T-account. Just above the T, the account title may be seen.
Ledger account is another term for a T account. In asset accounts, the debit (left) side is always a sign of an increase and the credit (right) is always a sign of a decline. Cash, inventories, and accounts receivable are a few examples of asset accounts.
Therefore, option B is correct.
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consider the following scenario: the director of product requests the project manager to add a new product feature. however, they also state that the team cannot push back the project delivery date.
using the triple constraint model, what trade-off could the project manager use to meet the director of products request?
a. change the budget
b. change the team
c. change the timeline
d. change the project goal
Using the triple constraint model, the trade-off which the project manager could use to meet the director of products request include the following: A. change the budget.
What is the triple constraint model?In Project management, the triple constraint model states that every and all project must include three (3) major constraints and these include the following:
Budget or cost.Time.Scope. What is a budget?In Economics, a budget can be defined as a financial plan that is typically used for the estimation of revenue and expenditures (expenses) of an individual, business organization or government in the form of money, especially for a specified period of time, often one year.
In this context, we can reasonably infer and logically deduce that this project manager could use a change in the budget in order to meet the director of products request.
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a gap analysis indicates the distance between where an organization is with its employee capabilities and where it needs to be.
a gap analysis indicates the distance between where an organization is with its employee capabilities and where it needs to be training objective.
By "organisation," what do you mean?An organisation is made up of a group of individuals who work together, like in a union, business, nonprofit, or neighbourhood association. A person, a group, a business, or the act of generating something can all be described as a "organisation." An organisation or organisation is a group of one or more people that has a particular objective and can be a company, institution, or association. The word comes from the Greek word organon, which also denotes a variety of tools, instruments, and organs.
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Is saving $2,000 by the end of the semester a short term goal or milestone
Answer:short term goal
Explanation:
Answer:
Short term goal
Suppose that the local government of Santa Fe decides to institute a tax on seltzer producers. Before the tax, 30,000 packs of seltzer were sold every week at a price of $10 per pack. After the tax, 23,000 packs of seltzer are sold every week; consumers pay $12 per pack, and producers receive $7 per pack (after paying the tax).
The amount of the tax on a pack of seltzer is $ ____ per pack. Of this amount, the burden that falls on consumers is $_____ per pack, and the burden that falls on producers is $____ per pack.
True or False: The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers.
a. The amount of the tax on a pack of seltzer is $5 per pack. Of this amount, the burden that falls on consumers is $2 per pack, and the burden that falls on producers is $3 per pack.
b. False.
What is the amount of the tax on a pack of seltzer?The amount of the tax per pack of seltzer can be calculated as the difference between the price paid by consumers after the tax ($12) and the price received by producers after paying the tax ($7), which is $12 - $7 = $5.
The burden that falls on consumers is the increase in price that they have to pay due to the tax, which is $12 - $10 = $2 per pack.
The burden that falls on producers is the decrease in the price they receive after paying the tax, which is $10 - $7 = $3 per pack.
False. The effect of the tax on the quantity sold would not have been larger if the tax had been levied on consumers instead of producers. This is because the tax incidence, or the actual division of the tax burden between consumers and producers, is determined by the relative elasticities of demand and supply.
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An adjusting entry was made on year-end December 31 to accrue salary expense of $3,200. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $7,000 payment of salaries in January of the following year? Multiple Choice 0 salaries Expens 7,000 Salaries Expense Cash 7,000 7,000 Salaries Payable Cash 7,000 3,200 Salaries Payable Cash 3,200 3,200 Salaries Expense Salaries Payable 3,200 7,000 Salaries Expense Cash 7,000 7,000 Salaries Payable Cash 7,000 Salaries Payable Cash 3,200 3,200 3,200 Salaries Expense Salaries Payable 3,200 Salaries Payable Salaries Expense Cash 3,200 3,800 7,000
The correct entry to record the $7,000 payment of salaries in January of the following year, assuming no reversing entries were made, is:
Salaries Expense 3,200
Salaries Payable 3,200
Cash 7,000
Salaries Payable 7,000
What does it mean for a company to prepare to reverse entries?Preparing reversing entries is an optional accounting procedure in which an adjusting entry made at the end of a period is automatically reversed at the beginning of the next period. Reversing entries helps simplify the accounting process and ensure that financial statements accurately reflect the economic activity of the period. By automatically reversing the previous period's adjusting entry, the accountant does not need to remember to manually reverse it. This is useful for certain types of adjusting entries that can be difficult to reverse or remember, such as accruals for expenses or revenues.
from the question:
Salaries Expense 3,200
Salaries Payable 3,200
Cash 7,000
Salaries Payable 7,000
Explanation: The adjusting entry made at the end of the year recognized the accrued salaries expense of $3,200. When the actual payment is made in January of the following year, the Salaries Payable account is reduced by $3,200 and Cash is reduced by $7,000, the total payment made to employees. The Salaries Expense account is not affected by the payment as it has already been recognized through the adjusting entry.
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9. Sample size for an interval estimate of a population proportion
Suppose the Council of Economic Advisers is conducting a study to estimate the proportion of U.S. households that are eligible for the earned income tax credit. The project manager desires a 0.05 margin of error at 99% confidence. The planning value for p is p* = 0.13.
Use the following Distributions tool to help you answer the question that follows.
To satisfy the desired margin of error, a sample size no smaller than ______ is needed.
A sample size no smaller than 1454 is needed to satisfy the desired margin of error.
What is margin of error?Margin of error is a measure of the uncertainty associated with an estimate of a population parameter, such as a mean, proportion, or percentage. It is typically expressed as a percentage of the estimate and is derived from the standard error of the statistic, the sample size, and the confidence level. Margin of error provides an indication of the range of values that a statistic might have if the same sample were to be repeated multiple times.
The required sample size can be calculated using the formula n = (zα/2/E)2p*(1-p*), where zα/2 is the critical value for a 99% confidence level (2.576), E is the desired margin of error (0.05), and p* is the planning value for the population proportion (0.13). Plugging in the given values, we get:
n = (2.576/0.05)2*0.13*(1-0.13)
n = 1453.9
Therefore, a sample size no smaller than 1454 is needed to satisfy the desired margin of error.
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FILL IN THE BLANK g. jone's consulting company's adjusted trial balance shows the drawing account has a debit balance of $3,000. the journal entry to close this account will include a debit to the _____ account, in the amount of $3,000.
The journal entry to close the drawing account will include a debit to the owner's capital account, in the amount of $3,000.
What is an adjusted trial balance, and why is it important for financial reporting?An adjusted trial balance is a financial statement that lists all the account balances after adjusting entries have been made. Adjusting entries are made at the end of an accounting period to ensure that financial statements accurately reflect a company's financial position and performance. The adjusted trial balance is important for financial reporting because it is used to create other financial statements, such as the balance sheet and income statement. These statements are used by stakeholders to assess a company's financial health and make decisions about investments, lending, and other business activities. The accuracy of these statements depends on the accuracy of the adjusted trial balance.
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Provide one example of what can happen if you neglect critical thinking?
Neglect is the ongoing failure to meet a child's basic needs and the most common form of child abuse.
What is the meaning of Neglect?The most frequent type of child abuse is neglect, which is the ongoing failure to provide for a kid's basic requirements. A youngster might go without sufficient food, clean clothes, shelter, supervision, or medical attention.
When someone purposefully fails to give another adult the proper and sufficient care and assistance they require, this is known as neglect. They may have chosen to do nothing when they knew the adult in their care needed help, for a variety of reasons, including ignorance or a lack of awareness.
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Amy Martin is a student who plans to attend approximately four professional events a year at her college. Each event necessitates a financial outlay of $100 to $200 for a new suit and accessories. After incurring a major hit to her savings for the first event, Amy developed a different approach. She buys a suit on credit the week before the event, wears it to the event, and returns it to the store the next week for a full refund on her charge card. Address the following in your response:
- Comment on the ethics exhibited by Amy and the possible consequences of her actions.
- How does the merchandising company account for the suits that Amy returns?
The ethics exhibited by Army and the consequences of her actions is:
She is essentially committing fraud by returning a suit she has worn and obtained full use of, without paying for it. Her actions go against the principles of honesty and integrity and can be seen as a form of theft. The merchandising company usually accounts for the suits that Amy returns as part of their merchandise inventory. What is the ethics exhibited by Amy ?The approach taken by Amy raises serious ethical concerns. She is essentially committing fraud by returning a suit she has worn and obtained full use of, without paying for it. Her actions go against the principles of honesty and integrity and can be seen as a form of theft. Furthermore, her actions may lead to consequences such as legal action and loss of reputation, especially if the store or the credit card company discovers her actions.
The merchandising company usually accounts for the suits that Amy returns as part of their merchandise inventory. They would consider the suits that are returned as "returned goods" and would treat them as unsold inventory that can be resold to another customer. However, if the company finds out that Amy has worn the suit and returned it, they may take action to stop her from returning suits in the future or even ban her from purchasing from their stores altogether.
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based on the data in the graph, which of the following fishing practice solutions would best promote the sustainability of the orange roughy population? responses a decrease in the minimum size limit of fish that can be caught
Based on the data in the graph, the establishment of quotas on the number of orange roughly caught would best promote the sustainability of the orange roughly population.
Explain the sustainability of orange roughy.The Marine Stewardship Council has acknowledged the New Zealand orange roughy fishery as sustainable, despite international opposition to its recognition. Deep-sea bottom trawlers over seamounts are used to catch orange roughy.
The orange roughy, also known as the red roughy, slimehead, and deep sea perch, is a sizable deep-sea fish that is a member of the slimehead family. "Vulnerable to exploitation" is how the UK Marine Conservation Society has classified orange roughy. Deepwater species known as orange rough live along oceanic ridges and slopes that are extremely rocky.
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Suppose Casey Title Company normally charges $700 for services related to selling a house. As part of a summer special, Casey offers customers a trade discount of 30%. On July 9, Linda Holmes uses the services of Casey and pays cash equal to the discounted price. Record the revenue earned by Casey on July 9
Cash account was debited $490 and service revenue account was credited $280.
When the revenue from services is credited, what is debited?The Cash asset account must be debited and another account must be credited whenever money is received. Due to the fact that the service was provided simultaneously with the cash reception, the revenue account Service Revenues is credited, increasing its account balance.
What does a journal entry for service revenue look like?When a customer pays in cash up front for services, a debit is issued to Cash and a credit is made to Service Revenue. The journal entry for services rendered on account contains a debit to the asset Accounts Receivable and a credit to Service Revenue.
Trade discount = $700 × 30% = $210.
Sale price = $700 − $210 = $490.
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Garcia Company recognized revenue on account. The recognition will affect which of the following financial statements?
Balance sheet
Statement of cash flows
Income statement and the balance sheet<<
Income statement
Yang Company recognized accrued salary expense. The recognition will affect which of the following financial statements?
Income statement
Balance sheet
Income statement and the balance sheet<<
Statement of cash flows
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
increases the amount of salary expense recognized in Year 2.
decreases the amount of salary expense recognized in Year 2.<<
increases the amount of liabilities shown on the Year 2 balance sheet.
decreases the amount of liabilities shown on the Year 2 balance sheet.
Garcia Company recognizing revenue on account will affect both the income statement and the balance sheet. The income statement will show an increase in revenue, and the balance sheet will show an increase in accounts receivable (an asset account) since the company has not yet received cash for the revenue earned.
What will Yang Company recognize?Yang Company recognizing accrued salary expense will affect both the income statement and the balance sheet. The income statement will show an increase in expenses, specifically the salary expense recognized, and the balance sheet will show an increase in accrued expenses (a liability account) since the company owes employees for the accrued salary.
If Adam Company recognizes $3,000 of accrued salary expense in Year 1 and then pays the expense in Year 2, this will not affect the amount of salary expense recognized in Year 2. It will, however, decrease the amount of liabilities shown on the Year 2 balance sheet since the accrued salary expense liability has been paid.
Therefore, the correct answer is "decreases the amount of liabilities shown on the Year 2 balance sheet."
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Jordan's Furniture aims to attract people to the store for entertainment and fun rather than just to buy furniture. Which of the following is true in this case?
a. Jordan's Furniture is aiming to stimulate a hedonic motivation rather than a utilitarian motivation to enter the store.
b. The key motivation Jordan's Furniture is attempting to stimulate in consumers in maintenance of homeostasis.
c. Jordan's advertising strategy aims at triggering a self-improvement motivation in customers.
d. Jordan's marketing efforts triggers a prevention focus in consumers to encourage them to buy furniture
Jordan's Furniture is aiming to stimulate a hedonic motivation rather than a utilitarian motivation to enter the store. Option (A) is correct.
What is hedonic motivation?Hedonistic motivation describes how a person's propensity to move away from a threat or towards a goal is influenced by their pleasure and pain receptors. This is related to the fundamental motivational tenet that humans seek out pleasure and avoid suffering and is attained by engaging in certain activities that are a direct outcome of aesthetic and affective responses like love, hate, fear, joy, etc.
Jordan's Furniture is enjoyable, distinctive, and exceptional. We work hard, and we have a fantastic time doing it. Every employee performs at their best when they are surrounded by individuals who are passionate about what they do.
Therefore, Option (A) is correct.
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Accrued revenues and expenses will cause differences between the statement of cash flows and the income statement. This statement is.
Accrued revenues and expenses will cause differences between the statement of cash flows and the income statement. This statement is true.
What is Accrued revenues?
The result of accrual accounting, revenue recognition, and matching rules is accrued revenue. According to the revenue recognition principle, revenue transactions must be recognised in the same accounting period in which they are generated rather than when the product or service is actually paid for in cash. A concept in accounting known as the "matching principle" aims to connect the income made during a given accounting period with the costs paid to make that revenue. According to generally accepted accounting principles (GAAP), accumulated revenue is recorded when a performance obligation is met by the party performing. For instance, regardless of whether the buyer made a cash payment or used credit, revenue is recognized when a sales transaction is completed and the customer receives the purchased item.
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which statements are true about these sql statements? (choose two) commit is a data definition statement. create table is a data definition statement. rollback is a transaction control statement. merge and update are both data definition statements. drop and delete are both data manipulation statements.
Regarding these SQL statements, the following assertions hold true:
A statement defining data is Create table.A transaction control statement is rollback.The following statements are false:
Commit is not a data definition statement but rather a statement controlling a transaction.Update and merge are statements that manipulate data, not statements that define data.Drop and delete are both statements that manipulate data, not statements that define data.What is SQL Statement?SQL (Structured Query Language) statements are used to interact with relational databases. SQL is a standard language used for managing and manipulating data stored in a database, and it allows users to retrieve, insert, update, and delete data in a database. SQL statements can be used to create, modify, and delete tables and other database objects, as well as to retrieve and modify data stored in tables. Some common SQL statements include SELECT, INSERT, UPDATE, DELETE, CREATE, ALTER, and DROP.
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Jethro Company, an accrual basis taxpayer, had a $10,000 overdue account payable to a major supplier. The supplier agreed to settle the account for $9,000 cash from Jethro. Which of the following statements is true?
a. Jethro recognizes no income because of the settlement.
b. Jethro can deduct the $9,000 payment.
c. Jethro recognizes $1,000 income because of the settlement.
d. Jethro can deduct a $1,000 bad debt expense.
The correct answer is (c) Jethro recognizes $1,000 income because of the settlement. Sales Tax is a form of tax paid to a governing body for the sale of goods and services.
What is sales tax?A sales tax is a charge made to a governing body when specific goods and services are sold.
Generally speaking, laws permit sellers to charge customers taxes at the moment of purchase.
It is typically referred to as an usage tax when a tax on goods or services is paid by consumers directly to the governing body.
Laws often provide excise and use tax exemptions for certain goods or services, such as: For example, food, education, pharmaceuticals, etc.
Sales tax is connected to the Value Added Tax (VAT) levied on products and services.
For the main differences, see Comparison with consumption tax. Retail sales tax is levied on the sale of goods to the final consumer and is levied each time the goods are sold at retail outlets.
Sales to companies who later resell the goods are not taxed.
Buyers who are not final consumers typically receive a "resale certificate" from the tax authority and must present that certificate (or its ID number) and a statement to the seller that the item is for resale at the time of purchase.
Otherwise, tax will be charged on items sold to purchasers without such authorization who are subject to the jurisdiction of the tax authorities.
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in order to open a discretionary cash account, all of the following are required except: a signature of manager on new account form b signed trading authorization c signed customer's agreement d completed customer new account form
In order to open a discretionary cash account, all of the following are typically required, including-
A signed customer's agreement
A completed customer new account form
A signed trading authorization
However, depending on the policies and procedures of the financial institution or brokerage firm where the account is being opened, the first item listed—"a signature of manager on new account form"—may or may not be necessary. Some institutions might require a manager's signature on all new account forms, whereas others might only do so under specific conditions (such as for high-risk or high-value accounts).
There is no exception, so that is the right response to this question. The manager's signature on the new account form may or may not be necessary depending on institutional policies, but all of the items on the list are typically necessary.
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which of the following are common controls over cash receipts? (select all that apply.) multiple select question. a. opening mail daily and making a detailed list of checks received b. reducing c. the amount of total sales to customers
The answer is only option (a) and (c).
a. opening mail daily and making a detailed list of checks received and
c. the amount of total sales to customers
Why are they the answers?The common controls over cash receipts are:
a. Opening mail daily and making a detailed list of checks received
b. Depositing all cash and checks intact and promptly
c. Using pre-numbered receipts
Therefore, the answer is only option (a) and (c). Option (b) is not a common control over cash receipts; it is actually the opposite of a control since reducing the amount of total sales to customers would result in understating the amount of cash received.
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Which of the following rights under copyright law refers to the right to sell, rent, lease, lend, or give away copies of the work:O Distribution rightsO It replaces the prior art.O Rome's ius civile
Right of distribution is rights under copyright law refers to the right to sell, rent, lease, lend, or give away copies of the work .
What privileges are provided by copyright law?
There are two categories of rights that copyright safeguards. Owners of intellectual property who have economic rights can profit financially from other people using their creations.
Authors and other creators have the right to take specific acts to safeguard their relationship to their work and to retain their moral standing.
Which of the following is an owner's right to copyright?
The copyright holder is allowed to: reproduce the work in whole or in part; (eg print or download the work) the work for publication (supply copies to the public) enlighten the public about the work (eg by email or upload to school DTE).
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Gulf Uniform Supply's bank charges a fee for handling the collection of credit card sales deposited during the month. The credit card fee is deducted from its bank account. The amount is then shown on the bank statement. The credit card fee is recorded in the cash payments journal as a reduction in cash. Recorded credit card fee expense, $442.00. M60. (Debit Credit Card Fee Expense; credit Cash.)
Answer:
Cash or Check?
If a business is ever "questioned" about the payment of an invoice it is a rather simple process to produce the cancelled check as proof positive. The "money trail" is easy to follow with checks.
cash doesn't often leave a trail and thus the Government, Tax auditors and such frown on businesses paying for things by cash and from taking in bundles of cash. If you are in a business that generates a great deal of cash from sales, be very careful and meticulous as to how you record the receipt of cash and how you spread the cash around
Gulf Uniform Supply records the credit card fee expense in its cash payments journal as a reduction in cash, with a corresponding debit to the Credit Card Fee Expense account and a credit to the Cash account.
What was the Gulf Uniform Supply?Gulf Uniform Supply was a company that provided high-quality uniforms and workwear to businesses and organizations in the Gulf region of the United States. Based in Houston, Texas, Gulf Uniform Supply offered a wide range of products, including uniforms for industries such as oil and gas, healthcare, hospitality, and public safety.
The company prided itself on its commitment to customer service and attention to detail. Gulf Uniform Supply worked closely with its clients to develop custom uniforms that met their specific needs and branding requirements. In addition to uniforms, the company also provided a variety of promotional products and branded merchandise.
Unfortunately, Gulf Uniform Supply is no longer in business, and its website is no longer active. It is unclear when the company ceased operations or what led to its closure.
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