two examples of non tax income​

Answers

Answer 1

Non-tax income refers to any income that is not subject to taxation. Here are two examples:

1   Interest earned on tax-exempt bonds: Interest earned on certain bonds, such as municipal bonds, is exempt from federal income tax. This means that the income generated from these bonds is not subject to taxation, making it a form of non-tax income.

2  Gifts and inheritance: Money received as a gift or inheritance is not considered taxable income by the recipient. However, the giver or estate may be subject to gift or estate taxes, respectively, if the gift or inheritance exceeds a certain threshold.


Related Questions

Fill in the blank: a _______ is a document that defines project goals and outlines what is needed to accomplish them.
a. project charter
b. risk analysis
c. cost-benefit analysis
d. project schedule

Answers

A project charter is a document that defines project goals and outlines what is needed to accomplish them.

What exactly is a project charter document?

While organizing a project, a project charter is a brief statement that outlines the main goals and advantages of the endeavor. It serves as a quick reference for the purposes of a project.

                           It serves as both a marketing tool and a reference point to keep the project on schedule. It is also helpful in gaining support from stakeholders.

How do project and team charters differ?

A team charter concentrates on a single team, its members, and how they will work together — frequently on numerous projects. A project charter outlines the specifications for a single undertaking that may include participants and materials from various organizations.

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Which of the following are characteristics of negotiable certificates of deposit (NCD)? Check all that apply. Common direct investors in these securities are households, firms, and financial institutions. Their denominations are typically in multiples of $100,000. Their maturities are normally between 2 weeks and 1 year. Activity in their secondary market is moderate.

Answers

Their maturities are normally between 2 weeks and 1 year and activity in their secondary market is moderate are characteristics of negotiable certificates of deposit (NCD).

What are certificates of deposit?

In the US, banks, thrift institutions, and credit unions regularly provide time deposits, also referred to as certificates of deposit. Savings accounts and certificates of deposit (CDs) are not the same because a CD has a set lifespan and frequently offers a fixed interest rate. The bank expects the CD to be held on to until it matures, at which point it can be withdrawn and interest is paid. Because they are less risky than stocks and bonds, certificates of deposits have the disadvantage of yielding a lower return over time.

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For each of the following, list the class intervals that would be best for a grouped frequency distribution. a. Lowest X = 3, highest X = 84 b. Lowest X = 17, highest X = 32 c. Lowest X = 52, highest X = 97

Answers

Class interval =15 is best for the grouped frequency distribution data. To make the information easier to understand, measures of variability are visual displays that organise and show frequency counts.

What is frequency distribution?

Frequency tables or charts are used to represent frequency patterns. The percentage of observations or the exact number of observations that fall within each range can both be seen in frequency distributions.

Class interval =Height value -Lowest value

The breadth of each class is represented by a class interval.

(a) Given: Lowest value =3, Heighest value=84

Class interval =Height value -Lowest value =84-3=81

(b) Given: Lowest value =17, Heighest value=32

Class interval =Height value -Lowest value =32-17=15

(c) Given: Lowest value =52, Heighest value=97

Class interval =Height value -Lowest value =97-52=45

(b) Class interval =15 is best for the grouped frequency distribution data

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teresa is a self-employed civil engineer who uses her automobile for business. teresa drove her automobile a total of 12,000 miles during 2022, of which 5,600 were business miles before july 1 and 4,000 were business miles after june 30. the actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $6,400. teresa is eligible to use the actual or standard method. If required, round your answers to the nearest dollar.
a. How much is Teresa's transportation deduction based on the standard mileage method?

Answers

Teresa's transportation deduction based on the standard mileage method is  $ 0.56 per business mile.

What is the standard mileage method?

In the standard mileage method, keep note of the miles you travel for work throughout the tax year and multiply that total by the standard mileage rate. The normal mileage rate is 58.5 cents per mile for the first half of 2022 and increases to 62.5 cents per mile for the second half.

12,000 miles x 82% = 9,840 miles

9,840 miles x $0.56 = $5,510.4

Teresa's transportation deduction based on the standard mileage method: $5,510.4

Therefore, Teresa's transportation deduction based on the standard mileage method is  $0.56 per business mile.

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100 POINTS HELP Which of the following line items might be on a financial statement of shareholder's equity?
A. Operating cash flow
B. Expenses
C. Withdrawals
D. Liabilities

Answers

Answer:

C. WITHDRAWALS

Explanation:

Try to read this and to give you some understanding and answers

Shareholder's equity represents the residual value of a company's assets after all liabilities have been paid off. It includes the initial investment made by the shareholders, as well as any additional contributions, retained earnings, and dividends paid out to shareholders.

Withdrawals, also known as dividends, represent a reduction in the retained earnings of the company and therefore affect the total shareholder's equity. Operating cash flow, expenses, and liabilities are not typically included in the financial statement of shareholder's equity.

Answer and Explanation:

I believe the answer is D. Liabilities but it may be C. Withdrawals

please let me know if me wrong

(Table: Market for Mexican Take-Out) Use Figure: Market for Mexican Take-Out. If income changes from $1,000 to $1,400 per month, the income elasticity of demand, computed using the midpoint method at a price of $18 per Mexican take out meal, is: Table: Market for Mexican Take-OutPrice (per meal) Quantity of Meals Demanded (income = Quantity of Meals Demanded (income =$1,000 per month) $1,400 per month) 20 3 7 18 4 8 16 5 9 14 6 10 12 7 11 10 8 12 8 9 13 6 10 14 O 0.50. O 0.95. O 0.33 O 2

Answers

The elasticity based on the information will be d. 2.

How to calculate the elasticity

Income Elasticity = % change in quantity / % change in Income

% change in quantity = [(8-4)÷ (8+4)/2]*100

= 4/6*100= 66.67%

% change in Income =

[(1400-1000)÷( 1400+1000)/2] *100

= 400/ 1200*100 = 33.33%

Elasticity = 66.67/33.33= 2.00 = 2

So, this commodity is a luxury goods as income Elasticity is higher and Elastic Demand.

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In the market for gadgets, the supply curve is the typical upward-sloping straight line, and the demand curve is the typical downward-sloping straight line. The equilibrium quantity in the market for gadgets is 320 per month when there is no tax. Then a tax of $6 per gadget is imposed. As a result, the government is able to raise $1,500 per month in tax revenue. We can conclude that the equilibrium quantity of widgets has fallen by a. 70 per month b. 250 per month c. 320 per month d.76 per month

Answers

The new equilibrium price is greater than it was before due to the tax, coming in at $18 per item.

How can it be calculated in detail?

Using the tax revenue formula, we can get the new equilibrium quantity: Tax revenue is calculated as tax per unit times the quantity sold. We may calculate the new quantity by using the knowledge that the tax per unit is $6 and the monthly tax revenue is $1,500:

$250 x $6 multiplied by $1,500

The new equilibrium quantity is 250 items per month as a result. From the initial equilibrium quantity of 320 devices each month, this represents a reduction of 70 devices per month.

Hence, a. 70 per month is the right response.

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Identify a true statement about the relationship between social responsibility and economic performance of companies.
a. Socially responsible companies always succeed in maximizing profits.
b. There is no guarantee that socially responsible companies will be profitable.
c. Businesses predominantly become less profitable when they become socially responsible.
d. A huge trade-off exists between being socially responsible and economic performance

Answers

A  true statement about the relationship between social responsibility and the economic performance of companies there is no guarantee that socially responsible companies will be profitable. Thus the correct option is B.

What is Corporate social responsibility?

Corporate social responsibility intends that the organization's operations should not affect the environment and the organization should be accountable for its activities.

Companies are more tend toward CSR in order to protect the environment and adopt an eco-friendly approach. This approach is linked to the social well-being of society but doe not guarantee the success of the organization in terms of revenue and sales.

Therefore, option B is appropriate.

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Consider the parental cross rY x Rr, where r is the trait/disease allele, and R is the wild-type allele. The mode of inheritance is sex-linked recessive. Unlike other exercises, this cross is not true-breeding, as the female is heterozygous. The same rules of Punnett squares apply.
Compute the ratios (Disease phenotype):(Wild-type phenotype) for the F1 and F2 generations. To compute proportions in the F2 generation, select males in the F1 generation who are affected and females who are unaffected.
Finally, show your work in part by providing the Punnett squares for the F1 and F2 generations.

Answers

A heterozygous genotype may include one normal allele and one mutated allele or two different mutated alleles.

What is the meaning of heterozygous?

A gene region where there are two distinct alleles present. One normal allele and one mutated allele, or two distinct mutated alleles, can make up a heterozygous genotype.

You have a heterozygous genotype for such a gene if the two versions differ from one another. For instance, having one gene for red hair and one allele for brown hair could indicate that you are heterozygous for hair color. Which qualities are expressed depends on how the two alleles are related.

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suppose a 20th unit of the good were sold by a seller to a buyer. which of the following statements is correct? group of answer choices for the 20th unit, the difference between the buyer's value and the seller's cost is less than the tax per unit. for the 20th unit, the difference between the buyer's value and the seller's cost is greater than the tax per unit. for the 20th unit, the difference between the buyer's value and the seller's cost is equal to the tax per unit. it makes sense for the buyer to buy and for the seller to sell the 20th unit, with or without the tax in place.

Answers

A buyer is defined as someone who buys or has contracted to buy goods in Section 2(1) of the Act.  Hence option A is corrrect .

What is Sold goods ?

A buyer is one of the parties to the contract because a sale is a contract between two parties. The Act's section 2 defines "seller" (13). A seller is someone who has made a deal to sell something.

The way the tax burden is distributed between purchasers and sellers is known as the tax incidence. The relative price elasticity of supply and demand determines the tax incidence. The majority of the tax burden falls on consumers when supply is more elastic than demand.

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Given the following information, calculate target volume (in sales dollars):Sales price per unit$30Variable cost per unit$18Target profit$8,000Fixed costs$2,000multiple choice question. A. $20,000 B. $25,000 C. $16,667 D. $15,000

Answers

To calculate the target volume in sales dollars, we can use the following formula:

Target volume = (Target profit + Fixed costs) ÷ (Sales price per unit - Variable cost per unit)

Plugging in the given values, we get:

Target volume = ($8,000 + $2,000) ÷ ($30 - $18)

Target volume = $10,000 ÷ $12

Target volume = 833.33 units

To find the target volume in sales dollars, we multiply the target volume in units by the sales price per unit:

Target volume in sales dollars = 833.33 units × $30 per unitTarget volume in sales dollars = $25,000Therefore, the correct answer is B. $25,000.

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countries with strong balance sheets and declining budget deficits tend to have lower interest rates. when the economy is weakening, the fed is likely to increase short-term interest rates. long-term interest rates are not as sensitive to booms and recessions as are short-term interest rates. when the economy is weakening, the fed is likely to decrease short-term interest rates.

Answers

The statement that countries with strong balance sheets and declining budget deficits tend to have lower interest rates is true.

The statement that when the economy is weakening, the fed is likely to increase short-term interest rates is false.

The statement that long-term interest rates are not as sensitive to booms and recessions as are short-term interest rates is true.

The statement that when the economy is weakening, the fed is likely to decrease short-term interest rates is true.

What is an economy?

An economy is a region where products and services are produced, distributed, traded, and consumed. It is generally understood to be a social domain that places an emphasis on the behaviors, discourses, and tangible manifestations connected to the creation, utilization, and management of finite resources.

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In which of the following scenarios would an executive benefit from the insights provided by operations management systems software?
Multiple Choice
An executive wants to know which employees have been trained on their new manufacturing process.
An executive wants to know why there are delays in their customers receiving their product.
An executive wants to know what marketing message is having the biggest impact with customers.
An executive wants to know why it is taking longer to manufacture their product.

Answers

An executive would benefit from the insights provided by operations management systems software in the scenario where: d.  they want to know why it is taking longer to manufacture their product.

In which  would an executive benefit from the insights provided by operations management systems software?

Operations management systems software is designed to help organizations manage their production and manufacturing processes, optimize resources, and improve efficiency. It provides real-time data and insights into various aspects of the production process, including inventory management, supply chain management, and production scheduling.

Therefore, in the scenario where an executive wants to know why it is taking longer to manufacture their product, operations management systems software can help identify bottlenecks and inefficiencies in the production process, allowing the executive to make data-driven decisions to improve productivity and reduce costs.

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Scandinavian cultures do not rely heavily on social or nonverbal cues to convey meaning.
Individualism
Power distance
Context
Time orientation
In Japanese culture, employees show deference to their managers.
Time orientation
Communication style
Context
Power distance
In general, the Japanese do not like to be rushed into decisions.
Time orientation
Communication style
Individualism
Context

Answers

Answer:

1. Context

2. Power Distance

3. Time Orientation

Explanation:

Scandinavian cultures do not rely heavily on social or nonverbal cues to convey meaning - Context

In Japanese culture, employees show deference to their managers - Power distance

In general, the Japanese do not like to be rushed into decisions - Time orientation.

What is the cultural context?

The external setting in which individuals develop and the ways in which culture shapes behavior are referred to as cultural context. In a group of people, culture refers to common meanings, concepts, and worldviews.

A structure for arranging life experiences is provided by short-term orientation,  which is related to past and future events. A country's institutions and organization's power separation is measured by how much its less important leaders anticipate and accept the unequal power distribution.

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Lee Willis loaned Audrey Chin $16,000 to open Snip its hair salon. After 6 years, Audrey will repay Lee with 8% interest compounded quarterly. How much will Lee receive at the end of 6 years?

Answers

Interest : After solving the problem the Lee will receive $23,454.25. at the end of 6 years.

What is Interest?

Interest is the cost of borrowing money, or the income earned from lending money. It is expressed as a percentage rate, which represents the amount of money (called interest) paid relative to the amount of money borrowed (called the principal). Interest is a necessary part of any loan or credit agreement. It is the price paid for the use of money over time.

At the end of 6 years, Lee will receive $23,454.25. This is calculated by using the formula A = P(1 + r/n)^nt,
where A is the future value,
P is the principal amount,
r is the annual interest rate,
n is the number of times the interest is compounded, and
t is the number of years.
In this case, P = $16,000, r = 0.08 (8%), n = 4 (quarterly), and t = 6. Plugging those values into the equation, we get A = $16,000(1 + 0.08/4)^4*6 = $23,454.25.

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during the current year, green bay company earned a gross profit of $350000, where as new england company earned a gross profit of only $280000. both companies had net sales of $900000. does this mean that green bay is more profitable than new england?

Answers

It does not necessarily mean that Green Bay is more profitable.

Why is it not necessarily so?

While the gross profit of a company is a measure of profitability, it is not the only measure of profitability. Other factors, such as expenses, taxes, and other costs, can affect a company's overall profitability.

For example, Green Bay Company may have had higher expenses than New England Company, which would reduce its overall profitability even though it had a higher gross profit. Similarly, New England Company may have had lower expenses or a more favorable tax rate, which could increase its overall profitability despite its lower gross profit.

Therefore, without considering other factors that impact profitability, it would be incorrect to conclude that Green Bay is more profitable than New England solely based on their gross profits.

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list the four steps involving analysis when accounting for a department's activity, with the first step listed on top. instructions choice 1 of 4. assignment and reconciliation toggle button assignment and reconciliation choice 2 of 4. equivalent units toggle button equivalent units choice 3 of 4. cost per equivalent unit toggle button cost per equivalent unit choice 4 of 4. physical flow toggle button physical flow

Answers

The  four steps involving analysis when accounting for a department's activity, with the first step listed on top, is

1. Determine the physical flow of units.

2. Compute the equivalent units of production.

3. Compute the cost per equivalent unit of production.

4. Assign and reconcile costs.

What is the department's activity?

The department's activities defined the functioning of departments based on the priority of tasks in an organization. This department segregated each task.

When accounting first determines the flow of goods physically in the bsuiness, then based on this flow, a unit of production is calculated, and then cost assignment and reconciliation are done.

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Poole Company made a $100,000 cash expenditure this year. Which of the following statements is false?Group of answer choicesNone of the choices are false.Poole must capitalize the expenditure if it extends the estimated useful life of an existing asset by three years.Poole must capitalize the expenditure if it results in a long-term economic benefit to the company.Poole must capitalize the expenditure if it creates a new asset that the company can use for the next four years.

Answers

No assertion in the scenario given, in which Poole Corporation spent $100,000 in cash, is FALSE; thus, the appropriate response is (D).

What is expenditure?

In order to pay for a good, service, or another sort of cost, an expense necessitates the movement of money or wealth in general from one person or organization to another.

For a tenant, rent is an expense.

Parents and students must pay for tuition.

Buying anything, whether it be furniture, a car, food, clothing, or anything else, is commonly referred to as a cost.

An expense is a cost that is "paid" or "remitted," typically in exchange for something of worth.

Something that appears to be exceedingly expensive is "expensive."

Something that appears to be inexpensive is referred to as "inexpensive."

"Expenses of the table" include prices related to consuming food, and beverages, hosting a feast, etc.

Therefore, no assertion in the scenario given, in which Poole Corporation spent $100,000 in cash, is FALSE; thus, the appropriate response is (D).

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Correct question:

Poole Company made a $100,000 cash expenditure this year. Which of the following

statements is false?

A. Poole must capitalize the expenditure if it creates a new asset that the company can use for

the next four years.

B. Poole must capitalize the expenditure if it extends the estimated useful life of an existing

asset by three years.

C. Poole must capitalize the expenditure if it results a long-term economic benefit to the

company.

D. None of the above is false.

which of the following is the most controversial form of alternative energy after nuclear power? question
a. ethanol b. solar power c. wind power d.geothermal power

Answers

Ethanol is the most controversial form of alternative energy after nuclear power.

What is energy?

Energy is the capacity for doing work, which can take a range of forms, such as kinetic energy, potential energy, thermal energy, electrical energy, chemical energy, nuclear energy, and other forms. It is an essential component of the universe, as it is found in all forms of matter and can be converted from one form to another.

This is because the production of ethanol involves converting food sources, such as corn, into fuel, which can lead to higher food prices and a decrease in food availability. Additionally, while ethanol is considered a renewable energy source, it is less efficient than many other forms of alternative energy, such as solar or wind power, and can produce more carbon dioxide than traditional fossil fuels.

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bank three currently has $700 million in transaction deposits on its balance sheet. the federal reserve has currently set the reserve requirement at 6 percent of transaction deposits. a. if the federal reserve decreases the reserve requirement to 4 percent, show the balance sheet of bank three and the federal reserve system just before and after the full effect of the reserve requirement change. assume bank three withdraws all excess reserves and gives out loans and that borrowers eventually return all of these funds to bank three in the form of transaction deposits. b. redo part (a) using a 8 percent reserve requirement. (Do not round intermediate calculations. Enter your answers in millions rounded to the nearest dollar amount.)

Answers

The statement of a company's assets and liabilities that is prepared for the balance sheet. Two perspectives exist: an asset, while the other is the equity share capital and liabilities, resulting in an equal balance.

A Balance Sheet: What Is It?

A financial statement that details a company's assets, liabilities, and shareholder equity at a given time is referred to as a balance sheet. The basis for calculating investor returns and assessing a company's capital structure can be found in balance sheets.

In short, the balance sheet is a financial statement that shows what a company owns and owes and how much shareholders have invested. When performing fundamental analysis or calculating financial ratios, balance sheets can be combined with other significant financial statements.

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calculate the yield to maturity on the following bonds: a 8 percent coupon (paid semiannually) bond, with a $1,000 face value and 20 years remaining to maturity. the bond is selling at $885. an 5.1 percent coupon (paid quarterly) bond, with a $1,000 face value and 10 years remaining to maturity. the bond is selling at $917. an 7.1 percent coupon (paid annually) bond, with a $1,000 face value and 8 years remaining to maturity. the bond is selling at $1,067. (For all requirements, do not round intermediate calculations. Round your percentage answers to 3 decimal places.

Answers

In order to determine the yield to maturity (YTM) for each bond, we must first determine the interest rate (yield) that corresponds to the present value of the bond's anticipated future cash flows multiplied by its current market price.

How can it be calculated in detail?

About the first bond:

N = 20 x 2 = 40 (number of semiannual periods remaining to maturity) (number of semiannual periods remaining to maturity)

I/Y = ? (yield to maturity) (yield to maturity)

PMT = 8% x $1,000 / 2 = $40 (semiannual coupon payment) (semiannual coupon payment)

FV = $1,000 (face value) (face value)

PV = -$885 (current market price, negative because it reflects an outflow) (current market price, negative because it represents an outflow)

Hence, the first bond's yield to maturity is 4.738%. (rounded to 3 decimal places).

About the second bond:

N = 10 x 4 = 40 (number of quarterly periods remaining before maturity) (number of quarterly periods remaining to maturity)

I/Y = ? (yield to maturity) (yield to maturity)

PMT = 5.1% x $1,000 / 4 = $12.75 (quarterly coupon payment) (quarterly coupon payment)

FV = $1,000 (face value) (face value)

PV = -$917 (current market price, negative because it reflects an outflow) (current market price, negative because it represents an outflow)

Thus, the second bond's yield to maturity is 2.345%. (rounded to 3 decimal places).

About the third bond:

N = 8 (number of yearly periods remaining to maturity) (number of annual periods remaining to maturity)

I/Y = ? (yield to maturity) (yield to maturity)

PMT = 7.1% x $1,000 = $71 (annual coupon payment) (annual coupon payment)

FV = $1,000 (face value) (face value)

PV = -$1,067 (current market price, negative because it reflects an outflow) (current market price, negative because it represents an outflow)

Thus, the third bond's yield to maturity is 5.863%. (rounded to 3 decimal places).

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Suppose policymakers are considering a particular action in the market for heroin that would reduce consumer surplus. They may choose not to care about consumer surplus because
A. willingness to pay does not ever reflect economic well-being.
B. they do not respect consumers' preferences in any market.
C. they do not respect the preferences that drive buyer behavior for that good.
D. consumers are not the best judges of how much benefit they receive from the goods they buy.

Answers

They may choose not to care about consumer surplus because they don't pay attention to the preferences of buyers who are influenced by that product.

Option C is correct .

What would pique the interest of policymakers in consumer surplus?

Managers can use consumer surplus to determine whether a product they are selling will be purchased. The goods will not be purchased by those whose willingness to pay is less than the price.

Consumer surplus :

When consumers pay a price that is lower than what they are willing to pay for a product or service, this is known as a consumer surplus. It is a measure of the additional benefit consumers receive when they pay less than they were willing to pay for something.

What exactly are producer surplus and consumer surplus?

The difference between what a consumer is willing to pay for a product and what they paid for it is referred to as the consumer surplus. The difference between the market price and the lowest price a producer is willing to pay to produce a good is called the producer surplus.

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One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization buying
advertising is often technical in nature.
promotions of all kinds are avoided.
price is firmly quoted and attempts at negotiation are considered bad form.
distribution is of negligible importance.
product quality is assumed among sellers and is rarely a buying criteria.

Answers

One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization buying, advertising is often technical in nature is advertising is often technical in nature. Option (A) is correct.

What is a Marketing mix?

The marketing mix classifies the set of actions, or tactics, which is used by a  company to promote its brand or product in the market. The 7Ps of the marketing mix are product, pricing, place, promotion, physical evidence, people, and processes.

Consumers purchase many commodities to use to satisfy their needs. Organizational buyers buy limited goods to use to conduct business. Unlike the consumer buying process, organizational buying involves decision-making by a group of people and enforcing rules for making decisions.

Therefore, Option (A) is correct.

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An office machine with a market value of $43,450 used by Josie in her accounting business was completely destroyed by fire. The adjusted basis of the machine was $41,450 (original basis of $62,175 less accumulated depreciation of $20,725). The machine was not insured. Calculate the amount and nature of Josie's gain or loss as a result of this casualty. (Assume this is the taxpayer's only casualty gain or loss.)

Answers

Since this is the only casualty gain or loss, $8,000 is the typical loss. In the income statement of a business, casualty losses are typically shown as an extraordinary item net of taxes.

Is casualty loss taken into account?

The year you sustain the loss, which is typically the year the casualty occurred, is when you can deduct the loss. If you have a reasonable chance of recovering through a claim for reimbursement, you have not suffered a loss.

Because the machine is not covered by insurance, there is no way to recover.

The machine's adjusted basis was $8,000, or $14,000 less $5,000 of accumulated depreciation; however, accumulated depreciation must be $6,000 ($14,000-$6,000=$8,000). I assumed that the machine's adjusted value would be $9,000 if the accumulated depreciation was $5,000. $14,000-$5,000=$9,000).

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What is the role of the securities and exchange commission? it adjusts the interest rates for loans. It ensures all financial institutions follow banking laws. It protects up to $250,000 of customer deposits. It regulates the business practices of stockbrokers.

Answers

According to the claim, it controls stockbrokers' commercial activities.

What does commission cost in dollars?

A commission fee is a payment made to an employee after they successfully complete a job, typically selling a predetermined volume of products or services. Sales commissions are a common reward used by employers to boost employee efficiency. A commission can be given instead of or in add to a wage.

What does a commission in company mean?

Employees receive commission, also referred to as sales incentive, based on the revenue they generate. SumUp Invoices offers complimentary statement creation. A commission is frequently determined as a proportion of the sale's worth.

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Answer: D

Explanation: It regulates the business practices of stockbrokers.

Got it right on flvs

The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost.
Inventories Beginning of period End of Period
Raw materials $ 39,000 $ 44,000
Work in process 10,000 19,100
Finished goods 53,000 34,800
Cost incurred for the period
Raw materials purchases $ 195,000
Factory payroll 250,000
Factory overhead (actual) Indirect materials used 11,000
Indirect labor used 57,500
Other overhead costs 95,000
1. Direct labor used (recorded as factory wages payable).
2. Indirect labor used (recorded as factory wages payable).
Prepare journal entries for the above transactions for the period.

Answers

Calculation of Direct Labor Used:

Direct labor cost = Factory payroll - Indirect labor used

Direct labor cost = $250,000 - $57,500

Direct labor cost = $192,500

What will be Journal Entries ?

Journal Entry:

Work in Process Inventory $192,500

Factory Wages Payable $192,500

Recording of Indirect Labor Used:

Journal Entry:

Factory Overhead $68,500

Factory Wages Payable $68,500

Calculation of Factory Overhead:

Direct Labor Cost = $192,500

Predetermined Overhead Rate = 55% of Direct Labor Cost

Factory Overhead Applied = Direct Labor Cost x Predetermined Overhead Rate

Factory Overhead Applied = $192,500 x 55%

Factory Overhead Applied = $105,875

Underapplied Overhead = Actual Overhead - Factory Overhead Applied

Underapplied Overhead = $95,000 - $105,875

Underapplied Overhead = ($10,875)

Note: Since there is underapplied overhead, it will be closed to Cost of Goods Sold at the end of the period.

Recording of Raw Materials Purchases:

Journal Entry:

Raw Materials Inventory $195,000

Accounts Payable $195,000

Recording of Other Overhead Costs:

Journal Entry:

Factory Overhead $95,000

Accounts Payable $95,000

Transfer of Costs from Raw Materials to Work in Process:

Journal Entry:

Work in Process Inventory $44,000

Raw Materials Inventory $39,000

Raw Materials Inventory $44,000 - $39,000 = $5,000

Transfer of Costs from Work in Process to Finished Goods:

Journal Entry:

Finished Goods Inventory $19,100

Work in Process Inventory $19,100

Transfer of Costs from Finished Goods to Cost of Goods Sold:

Journal Entry:

Cost of Goods Sold $53,000

Finished Goods Inventory $53,000

Closing of Underapplied Overhead to Cost of Goods Sold:

Journal Entry:

Cost of Goods Sold $10,875

Factory Overhead $10,875

Note: Underapplied overhead is closed to Cost of Goods Sold at the end of the period

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What is the difference between your assets and your liabilities known as?

Answers

Your profit or loss is defined as the disparity between your assets and liabilities.

What are assets?

Assets refer to any resources that have a significant economic value and are owned or controlled by an individual, company or organization. Assets can be physical or intangible and can be used for generating income or achieving financial goals. Examples of physical assets include property, inventory, equipment, and machinery, while intangible assets include patents, copyrights, trademarks, and goodwill. Assets are typically classified as current or non-current based on their expected lifespan, liquidity, and usage. Current assets include cash, accounts receivable, inventory, and short-term investments, while non-current assets include long-term investments, real estate, and fixed assets such as buildings and equipment. Assets play a crucial role in determining the financial health of an individual or organization and are an essential component of any financial statement.

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if your purchases of toothpaste remain constant at 9 units per year when the price of shampoo increases from $8 to $12, all other things equal, for you, shoes and shirts are goods. group of answer choices a. inferior b. unrelated c. substitute d. complementary

Answers

If your purchases of toothpaste remain constant at 9 units per year when the price of shampoo increases from $8 to $12, then, shoes and shirts are Unrelated goods.

b. Unrelated

What are Unrelated goods?

Unrelated goods can be described as goods that have no corresponding effect on each other. This often means that the price of one of such goods does not affect the other in any way.

This is seen in the description above, where the shirts and shoes are paired. These two goods are unrelated because the increase in the price of one has no direct bearing on the price and sales volume of the other.

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The owner, Mae Roth, would like Appliance Warehouse to create a service department as one of our product offerings. Management needs to determine whether we are well suited to expand into this new specialty. Currently, we have two customer-facing departments: Appliance Sales and Replacement Parts. If we choose to create a service department, this will add a third customer-facing department to Appliance Warehouse. No longer will we need to refer customers to outside repair service companies. We will be able to sell new appliances, sell replacement parts, and service appliances. Truly, we will be a one-stop shop for all home appliance needs!
As our new systems analyst, we need your help with some organizational and industry research. First, you need to familiarize yourself with our organization. You should create an organizational chart so you can visualize how we will layout AW's organization with the additional proposed department. Next, you will need to perform an analysis, such as a SWOT diagram, to assess whether this new service specialty will be an appropriate strategy for us long term.
The service department will have technicians to go out and fix the customer's broken appliances. This will require people to set up the home service appointments, technicians to assess, estimate, and fix the appliances, and coordination with parts department to get the necessary parts for repair. The parts department may need to change their inventory and ordering process to accommodate the larger volume of parts needed with the new service department.
As the analyst, we are looking to you to for recommendations. Make sure to create an opportunity statement for this new department. And make sure that the mission statement on our website is still appropriate. If it is no longer appropriate,

Answers

The service department's business is growing, so it needs to offer more services.

What exactly does a service department do?

A cost center that provides services to the rest of a company is called a service department. Keeping costs low or meeting budgeted costs are the responsibilities of a service department manager.

Appointment for home maintenance. As the service department expands, they will need to offer HOME SERVICE, which will enable more employees to schedule appointments with customers to service their appliances at home.

Service technicians: Given the department's current spending, professional technicians would be in high demand. To handle the workload, more workers would be required.

INTERVIEW: Costs would rise as a result of department expansion because more money would be needed to advance the business. The opinion is very important. The budget will benefit from the forecast. In order to keep up with the service department, the department of parts needs to make changes to their business. The cost of the service department is high because it would require more parts to fix the broken appliances. For the department of parts to be able to fulfill the order on time and at a fair price, efficient suppliers are necessary.

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for the purchase of an airline ticket, a consumer may use _____ like time of day, percentage of on-time departure, brand, and price to choose between offerings.a. a consideration setb. value attributesc. selective featuresd. evaluative criteria

Answers

For the purchase of an airline ticket, a consumer may use consideration set like time of day, percentage of on-time departure, brand, and price to choose between offerings. Hence, option A is correct.

What is consideration set?

Alternatives that customers actively weigh before deciding on a purchase; also known as the evoked set.

For instance, a consumer might limit their selection of smartphones by first deciding on Apple as their preferred brand, then only evaluating Apple smartphones that were introduced within the past year, and then only considering Apple smartphones that had 128GB of memory.

Thus, option A is correct.

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