If labor is the only variable input a firm owner uses and the wage rate is $200 per week, what is the firm owner’s variable cost per week if she hires 12 workers?.

Answers

Answer 1

the firm owner’s variable cost per week is $2400.

variable cost per week =  $200 x 12

                                        = $2400

Costs that vary according to how much of a good or service a company produces is known as variable costs. The total marginal costs across all units produced represent variable costs. They may also be regarded as typical expenses. The two elements of the total cost are fixed costs and variable costs.

A corporation must pay close attention to variable costs because they can significantly affect how they spend its money. Variable costs can range from relatively high (in the event of a business experiencing significant change) to fairly minimal (depending on the strategic aims of a business).

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Related Questions

18. a valid contract is an agreement that meets the required elements for legal recognition (offer, acceptance, consideration, capacity, and legality). group of answer choices true false

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The statement " a valid contract is an agreement that meets the required elements for legal recognition (offer, acceptance, consideration, capacity, and legality)" is true.

What is a contract?

Contracts are typically in writing and are signed by all parties involved. Contracts typically outline the terms of an agreement, including what each party will do, what they will not do, and any consequences for breaching the contract. Contracts are often used in business agreements, such as leases, employment agreements, and sales contracts. They can also be used in personal agreements.

A valid contract must contain all the vital elements of a contract and for a contract to be valid, it must contain certain elements. Such elements include legality, capacity, consideration, acceptance, and offer. Only when all these elements are fulfilled, a contract can be deemed to be valid.

It can be concluded that the statement " a valid contract is an agreement that meets the required elements for legal recognition (offer, acceptance, consideration, capacity, and legality)" is true.

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when the demand for a country's currency falls, the currency will . a.) have inflationary results at home b.) be more valuable to foreigners c.) appreciate d.) depreciate

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The currency will Depreciate, when the demand for a country's currency falls.

When the value of a country's currency falls, it depreciates, which means that one unit of that currency may buy fewer units of another currency.       A country's currency depreciation lowers the cost of its export goods for foreigners while increasing the cost of foreign imports for domestic residents.

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the director is responsible for shaping the structure of the production through movement, pace, and rhythm. with this in mind, the faults most often associated with poor direction are blank . multiple select question. if the auteur director's concept of the production is flawed failure to establish a clear rhythm that holds or maintains interest when the audience fails to understand what is going on when the audience repeatedly misses the words being spoken

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Based on the situation of the question and the available options, the faults most often associated with poor direction include "When the audience fails to understand what is going on."

What Is the Structure of the Production

The structure of production is a term that is used to describe various factors of production and the process involves in the production cycle.

The structure of the production is controlled by humans which is often the directors. These directors are accountable for molding the structure of the production through movement, pace, and rhythm.

Therefore when there is poor direction, it often comes from the following reasons:

When the audience repeatedly misses the words being spokenFailure to establish a clear rhythm that holds or maintains interest

Hence, in this case, it is concluded that the correct answer is options B, C, and D.

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gsp manufacturing uses machine hours to allocate overhead costs to products. budgeted information for the current year follows: budgeted overhead cost $ 217,600 budgeted machine hours 2,560 machine hours budgeted direct labor hours 13,600 direct labor hours the plantwide overhead rate based on machine hours is:

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If gsp manufacturing uses machine hours to allocate overhead costs to products.  the plantwide overhead rate based on machine hours is:$85 per machine hour.

How to find the plantwide overhead rate ?

Using this formula to determine the plantwide overhead rate

Plantwide overhead rate based on machine hours = Budgeted factory overhead costs / Budgeted machine hours

Let plug in the formula

Plantwide overhead rate based on machine hour=217,600  / 2,560 machine hours

Plantwide overhead rate based on machine hours= $85 per machine hour

Therefore plantwide overhead rate is $85 per machine hour

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people often use the rational decision making model when:

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People often use the rational decision-making model when:employed where relatively complex decisions must be made.

A decision-making model  describes the approach a team will use to make decisions. The maximum important element in successful choice-making is that every team member is clear about how a specific choice will be made.

It allows to make sure that the right selection-making fashion is used for every situation, which can cause better effects. regardless of what kind of corporation you are, or what type of trouble you are going through, there is a selection making model that assist you to find the first-rate solution.

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accounting information gained wide popularity due to: group of answer choices the increase in popularity of investing none of these answers the development of joint sock companies the rise in government control over business

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Accounting information gained wide popularity due to the increase in popularity of investing

What is investment?Making an investment entails using money now in the hopes that it will appreciate later.An investment is putting capital to use, such as time, money, effort, etc., with the hope of receiving a larger return than what was initially invested.Any method or tool used to produce future income is referred to as an investment, including bonds, equities, real estate, and alternative investments.Investments typically don't guarantee an increase in value; you can finish up with less money than you started with.Diversifying investments can lower risk, but doing so may also lower income potential.

The purpose of investing is to provide income and build wealth over time. Any method for producing potential future revenue might be referred to as an investment. Buying bonds, equities, or real estate property are a few examples of this. A property that can be utilised to create things can also be bought and regarded as an investment.

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security controls place limits on activities that might pose a risk to an organization. ricky, a security engineer for his company, is performing a review and measurement of all controls to capture changes to any environment component. what is this called?

Answers

Answer:

Auditing

Explanation:

The process by which Ricky, a security engineer for his firm, reviews and measures all controls in order to detect changes to any environment component is called as auditing.

What is auditing?

Auditing is described as the on-site verification activity of a process or quality system, such as inspection, to guarantee compliance with regulations. This process detect the errors and with the help of this process, the management take a correct decision.

An audit can apply to a complete organization or to a specific function, process, or manufacturing step. In accounting, an audit's goal is to offer a judgment on whether the financial statements are fairly presented in accordance with suitable accounting rules.

However, auditing is the process by which Ricky, a security engineer for his organization, does a review and measurement of all controls to capture changes to any environment component.

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estimated the machine-hours for the upcoming year at 46,000 machine-hours. the estimated variable manufacturing overhead was $4.54 per machine-hour and the estimated total fixed manufacturing overhead was $1,297,660. the predetermined overhead rate for the recently completed year was closest to:

Answers

The predetermined overhead rate for the recently completed year was closest to $32.75

According to the question,

Variable Manufacturing Overhead

= (46,000 x $4.54)

= $208,840

= Fixed Manufacturing Overhead = $1,297,660

= Total = $1,506,500

Predetermined overhead rate = Total budgeted manufacturing Overhead/ Total budgeted machine hours

=$1,506,500/46,000

= $32.75

Variable overhead is a term used to portray the fluctuating manufacturing costs related to working organizations. As production cost increments or diminishes, the variable above costs moves in kind. A predetermined overhead rate is determined toward the beginning of the accounting time frame by separating the assessed production above by the assessed action base. The predetermined overhead rate is then applied to creation to work with deciding a standard expense for an item.

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a hospital orders latex gloves in lots of 150 boxes. inventory is depleted at a constant rate and orders are placed so that the new gloves arrive when the inventory of gloves reaches zero boxes. what is average inventory level over time? a. 200 b. 150 c. 100 d. 175 e. 125 f. 75 g. 250

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f. 75 is average inventory level over time.

what is average inventory level over time?

Calculating average inventory involves averaging inventory items over two or more accounting periods. Add the inventory counts at the end of each month, then divide the total by the number of months to determine the average inventory throughout a year.

Given that 150 boxes were ordered, the amount of stock on hand was 0.

Below is the formula for Average Inventory Level:

Average inventory level is equal to (number of orders plus inventory on hand) / 2.

Inventory level on average = 150 + 0 / 2.

Inventory level on average = 150 / 2

75 is the average inventory level.

Consequently, 75 is the average inventory level across time.

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all of the following statements about variable annuities are true except a. it provides a lifetime income. b. premiums are invested in a portfolio of common stocks or other investments c. it provides little protection against inflation d. annuity payments vary depending on investment experience

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With the exception of option c, each of the following facts concerning variable annuities is accurate. It offers little inflation protection.

In a contract known as a variable annuity, you and an insurance company agree that the insurer will make regular payments to you, either starting now or at a later date. A variable annuity contract must be purchased with a single payment or a series of payments.

With a variable annuity, any account growth you experience is tax-deferred until you begin taking withdrawals later on (when you may be in a lower tax bracket). All of the money that would have been paid in taxes each year so stays in the account with the opportunity to increase until it is taken.

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environmental cost is rarely captured in analyses. question 10 options: explicit implicit operating capital

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The environmental cost is rarely captured in analyses explicit implicit operating capital.

These are the costs that a company incurs when it releases waste into the environment. Examples include the cost of cleaning up an oil spill or cleaning up a polluted river. Businesses with a bad environmental reputation can also be subject to fines and other penalties, and suffer loss of sales.

Operations can affect the environment in many ways, including air pollution, manufacturing emissions, wetland impacts, and waste disposal. Environmental costs include current and future environmental impacts for which the company is responsible, as well as personnel costs associated with environmental cost accounting.

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on september 1, 2024, daylight donuts signed a $100,000, 9%, six-month note payable with the amount borrowed plus accrued interest due six months later on march 1, 2025. daylight donuts accrued interest for the note on december 31, 2024. which of the following would be recorded on the payment of the note plus accrued interest at maturity on march 1, 2025? (do not round your intermediate calculations.)

Answers

At the note's maturity on March 1, 2025, $3000 plus accrued interest would be recorded.

What do you meant by interest?

The fee you pay to take funds or the fee you charge to lend money is called interest. Most common way to represent interest is as an annual percentage of the loan amount. The cost of borrowing on the loan is known as this percent.

What is the simple interest of meaning?

Simple interest is calculated based on a lender's principal or the initial deposit into a savings account. Simple interest doesn't accumulate, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.

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Gas stations can price the products that they sell in their convenience store a little bit higher because?

a these products are usually substitutes to the gas sales and the demand for gas is inelastic
b these products are usually substitutes to the gas sales and the demand for gas is elastic
c these products are usually complements to the gas sales and the demand for gas is elastic
d these products are usually complements to the gas sales and the demand for gas is inelastic

Answers

Gas stations can price the products that they sell in their convenience store a little bit higher because these products are usually complements to the gas sales and the demand for gas is inelastic.

The name of the convenience store comes from both its intended use and the typical stock of goods. A convenience store can be a standalone establishment, but it is frequently located inside of a gas station. This makes it simple for customers to make purchases while refueling their cars. The Illinois Department of Commerce recommends that small convenience stores stock 2,800 to 3,200 items in up to 400 different categories.

Basic dairy products like milk, butter, cottage cheese, sour cream, and other types of cheese are readily available in many convenience stores. Usually, there won't be many different brands available.

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consumers in a small economy spend $49,000 on goods and services annually. also annually, investment is $10,000, government spending is $4,000, exports are $600, and imports are $100. what is the value of gdp in this economy?

Answers

the value of GDP in this economy is 63500

Let  have C- 49.000 I= 10000 6 = = 4,000 X 600 M= 100 1 Y= C+I + G + X-M 49,000 tloioon +4,000 +00 100 [$63,500]

The production, trade, and consumption of products and services all fall under the umbrella of an economy. It is generally referred to as a social domain that emphasizes the actions, discourses, and material manifestations connected to the production, use, and management of limited resources. The culture, values, education, technical advancement, history, social organization, political structure, legal systems, and natural resources of a specific country all play a significant role in the processes that make up that country's economy. In addition to establishing the parameters and conditions under which an economy operates, these elements provide context and content values. In other words, the economic sphere is a social one that includes connected human behaviors and exchanges and does not exist in a vacuum.

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gulf shores inn is comparing two separate capital structures. the first structure consists of 280,000 shares of stock and no debt. the second structure consists of 228,000 shares of stock and $1.62 million of debt. what is the price per share of equity?

Answers

The price per share of the equity of golf shores is equal to $31.15.

A mixed or leveraged structure, which includes both stock and loan components, is the second type of structure. The amount of capital that must be raised does not change.

Gulf will forfeit 280,000 - 228000 = 52,000 shares and must raise $1.62 million in debt. We expected that Gulf would raise the same amount from both constructions. Consequently, 52,000 shares at price x equal to $1.62 million in debt.

$1,620,000=52,000x

x=$1,620,000/52,000

x=$31.15

x or price per share is equal to $31.15

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rue or false: businesspeople may behave unethically simply because they forget to ask themselves whether the decision or action they are making is ethical.

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True, Simply by failing to consider whether the choice or action they are taking is moral, business people may act unethically.

What is business?
Making a living or earning money through the production, acquisition, and sale of items is referred to as doing business (such as goods and services). Additionally, it includes "any activity or enterprise undertaken for profit." Since the business entity isn't really legally distinguishable from the owner by a business name, the owner of the business is accountable and liable for any commitments made by the business. If a business accumulates debt, creditors may seize a owner's personal belongings. Business structures are not allowed to use corporate tax rates. The proprietor is required to pay personal taxes on all business income.

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select all that apply on march 1, scents, inc. lent $1,000 to an employee at a rate of 6% for 3 months. scents' entry to record the loan of $1,000 to its employee includes a . (check all that apply.)

Answers

lent $1,000 to an employee at a rate of 6% for 3 months. scents' entry to record the loan of $1,000 to its employee includes a

credit to Cash of $1,000

debit to Notes Receivable of $1,000

A note receivable is an asset account tied to an underlying promissory note, which details in writing the fee phrases for a purchase between a “payee” (commonly an agency, and occasionally known as a creditor) and the “maker” of the notice (usually a consumer or employee, and every now and then referred to as a debtor).

Notes receivable are a balance sheet item that statistics the price of promissory notes that an enterprise is owed and have to get hold of fee for. A written promissory notice offers the holder or bearer, the proper to get hold of the amount mentioned within the felony agreement.

An observed receivable is likewise called a promissory notice. while the note is due within less than 12 months, it's far considered a modern-day asset on the balance sheet of the organization the note is owed to. If its due date is more than a yr. inside the future, it's far taken into consideration as a non-current asset.

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Complete Question:

On March 1, Cents, Inc. lent $1,000 to an employee at a rate of 6% for 3 months. The entry to record the loan of $1,000 to its employee includes a:

debit to Cash of $1,000.credit to Notes Receivable of $1,000.debit to Interest Revenue of $15.credit to Interest Revenue of $15.credit to Cash of $1,000.

the following information describes a company's usage of direct labor in a recent period. the direct labor rate variance is:

Answers

The direct labor cost variance is $26,000 favorable.

What is direct labor cost?

A direct labor cost is a component of the wage bill or payroll that can be specifically and consistently attributed to or related with the production of a good, the completion of a specific task, or the rendering of a service. We can also state that it represents the price of the labor performed by those employees who really create the product on the assembly line. The wage is the sum of money given to the employee per hour in exchange for the labor performed. The planning of the work to be done, characterizing the job content of the work, by specifying the ability, knowledge, etc., matching the jobs with the personnel, and calculating the direct labor cost are all included.

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Candidates for the management development program at genco enterprises must first complete a personality assessment to determine the distinctive characteristics that account for the effectiveness of leadership role. Based on this, it would appear that genco believes in the ___ approach to leadership.

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Based on this, it would appear that genco believes in the trait  approach to leadership.

The required details about trait is mentiponed in below paragraph.

According to trait management theory, powerful leaders have in not unusualplace a sample of private traits that assist their capacity to mobilize others closer to a shared vision. These developments include dimensions of character and motives, units of talents and capabilities, and conduct in social relationships.Using developments to give an explanation for powerful management considers each traits which are inherited and attributes which are learned. This method has been used to distinguish leaders from non-leaders. Understanding the significance of those developments can assist groups select, train, and expand leaders.Allport grouped those developments into 3 special categories: cardinal developments, relevant developments, and secondary developments.

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Given the following data: r = $1.00/ f = $1.00/ i u.s. = %

If the interest parity condition is expected to hold, interest rates in Japan (Japan) should equal _______

Answers

If the interest parity condition is expected to hold, interest rates in Japan (Japan) should equal 16%.

0.14 = interest of f +(100-102)/102 = 16%

In finance and economics, interest is the price from a borrower or deposit-taking economic institution to a lender or depositor of an amount above compensation of the major sum (that is, the amount borrowed), at a specific charge. it's miles distinct from a rate that the borrower may pay the lender or a few 0.33 celebrations. it is also awesome from a dividend that's paid via an agency to its shareholders (owners) from its profit or reserve, but not at a specific rate determined ahead, alternatively on a pro-rata basis as a percentage within the praise received by means of hazard-taking marketers whilst the revenue earned exceeds the full charges.

For instance, a patron could normally pay hobby to borrow from a bank, in order that they pay the financial institution a quantity this is extra than the quantity they borrowed, or a purchaser might also earn hobby on their savings, and so they will withdraw extra than they in the beginning deposited. in the case of financial savings, the purchaser is the lender, and the financial institution plays the function of the borrower.

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shares of stock are multiple choice legal promises to repay a debt. none of the other answers are correct. claims to partial ownership of a firm. regular payments made to owners of a firm. legal promises to make regular payments to the stockholder.

Answers

Shares of stock are claims to partial ownership of a firm.

What do you mean by shares?

The smallest unit of stock in a firm is called a share. Therefore, the appropriate word to employ when allocating stock and referring to certain attributes is shares. In a technical sense, shares correspond to stock units. The terms "common" and "preferred" describe several classes of a company's shares. On the other hand, a share alludes to a certain company's stock certificate. You become a shareholder if you possess shares of a specific corporation. The capital of a firm is split up into tiny, equal units of a finite number. Shares are the name given to each unit. A share, to put it simply, is a portion of ownership in a business or a financial asset. Shareholders are investors who possess stock in a corporation.

Hence, Shares of stock are claims to partial ownership of a firm.

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a property could be sold today for $2 million. it has a loan balance of $1 million and, if sold, the investor would incur a capital gains tax of $250,000. the investor has determined that if it were sold today, she would earn an irr of 15 percent on equity for the past five years. if not sold, the property is expected to produce after-tax cash flow of $50,000 over the next year. at the end of the year, the property value is expected to increase to $2.1 million, the loan balance will decrease to $900,000, and the amount of capital gains tax due is expected to increase to $255,000. the owner determines that if the property were renovated instead of sold, after-tax cash flow over the next year would increase to $60,000 and the property could be sold after one year for $2.4 million. renovation would cost $250,000. the investor would not borrow any additional funds to renovate the property. a. What is the marginal rate of return for keeping the property one additional year? b. What advice would you give the investor?

Answers

The marginal rate of return (MRR) will be 32.6% & Since MRR is higher than IRR, investors should keep properties in industrial areas. This means that at MRF's highest rate, at IRR he would have more than $750,000 in cash flow if the property were held and invested the following year.

What is the internal rate of return?Internal rate of return (IRR) is a metric used in financial analysis to estimate the potential profitability of an investment. IRR is the discount rate that drives the net present value (NPV) of all cash flows to zero in a discounted cash flow analysis.The higher the internal rate of return, the better the investment. Because IRR is consistent across different types of investments, it can be used to rank multiple potential investments or projects relatively evenly. In general, when comparing investment options with other similar characteristics, the investment with the highest IRR may be considered the best. The ultimate goal of IRR is to find a discount rate such that the total present value of annual nominal cash inflows equals the investment's initial net cash outflows.The IRR is ideal for analyzing capital budgeting projects to understand and compare potential future annual returns.IRR is not only used by companies to determine which capital projects to use, but it also helps investors determine the return on investment of various assets.

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According to certain theories of motivation, a bonus of $100 for completing a work assignment before a deadline is an example of.

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According to certain theories of motivation, a bonus of $100 for completing a work assignment before a deadline is an example of an incentive.

A concept is a rational sort of abstract thinking about a phenomenon, or the effects of such questioning. The technique of contemplative and rational thinking is frequently related to such methods as observational observe or research. Theories may be clinical, belong to a non-scientific subject, or no field in any respect. Relying on the context, a concept's assertions would possibly, for example, include generalized explanations of the way nature works. The phrase has its roots in ancient Greek, however in contemporary use it has taken on numerous associated meanings. In cutting-edge science, the time period "concept" refers to medical theories, a nicely-showed form of clarification of nature, made in a way consistent with the scientific technique, and fulfilling the standards required through modern technology.

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Consider a firm that increases its inputs by 15 percent. For each scenario, state whether the firm experiences economies of scale, diseconomies of scale, or constant returns to scale.

Answers

Returns to scale, diseconomies of scale, and economies of scale are constant challenges for the business.

Economies of scale: An economization occurs when a corporation raises its input by a specific proportion while increasing its output by a greater percentage.

A diseconomy of scale occurs when a company's input increases by a certain percentage but its output increases by a different percentage.

When an organization's output increases by the same percentage as its input, it is said to have constant returns to scale.

a. 15% increase in input causes a 15% rise in output, the company experiences constant returns to scale. a. 15% growth in outputs

b. A gain in output of less than 15% after a 15% increase in inputs: This indicates that the company is suffering diseconomies of scale.

c. Increases in output of more than 15%: The company gains from economies of scale since a 15% increase in input results in an increase in output of a larger percentage.

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The complete question is given below

Consider a firm that increases its inputs by 15 percent. For each scenario, state whether the firm experiences economies of scale, diseconomies of scale, or constant returns to scale.

a. Outputs increase 15 percent.

b. Outputs increase by less than 15 percent.

c. Outputs increase by greater than 15 percent.

during the current year, stern company had pretax accounting income of $39 million. stern's only temporary difference for the year was rent received for the following year in the amount of $28 million. stern's taxable income for the year would be:

Answers

For the entire year, Stern would have $67 million in taxable income.

Pretax accounting income=39 million

temporary difference for the year=28 million

Taxable income = Pretax accounting income+Temporary difference for the year

Taxable income=$39 million+$28 million

Taxable income=$67 million

In general, income is expressed in monetary terms and refers to an entity's ability to save and consume within a given time frame. Conceptually, it is challenging to define income, and different fields may have distinct definitions. One's income may differ from their income as defined by legislation, for instance, depending on how one defines it economically. commonly applied in economics

Haig-Simons income, which defines income as Consumption + Change in Net Worth and is commonly applied in economics, provides an incredibly significant definition of income.

Income is defined by tax law as a figure that includes all wages, salaries, profits, interest payments, rent, and other forms of earnings received throughout a calendar year for families and individuals in the United States.

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company abc is developing a marketing strategy for a new cell phone product and just discovered that abc's biggest competitor is launching a very similar product at almost exactly the same time. in a swot analysis, the competitor's product would be a(n) . strength weakness opportunity threat

Answers

In a swot analysis, the competitor's product would be a(n) .threat.

The required details about threat is mentioned in below paragraph.

A Threat is a communication of cause to inflict harm or loss on a few different person. Intimidation is extensively decided in animal behavior (particularly in a ritualized form) particularly as a way to avoid the unnecessary physical violence that could motive physical damage or the loss of life of every conflicting parties. A Threat  is considered an act of coercion. Some of the greater now no longer unusualplace patterns of threats forbidden with the useful resource of the use of law are those made with an cause to obtain a financial benefit or to compel a person to act in competition to their will. In maximum US states, it's miles an offense to violence  to  use a deadly weapon on a few different person; injure a few different's person or property; or  injure a few different's reputation.

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now that you've delivered the bad news to kenisha that the radio-drm prototype will not be going into production, it's time to give her information about the reasons why the prototype was rejected. you have identified three major issues with respect to the prototype: consumers in the focus groups perceived the product to be too complicated and not user-friendly. production costs of the product are too high versus the price consumers appear to be willing to pay. consumers in the focus group objected to the size of the unit. in which order do you believe you should address these issues with kenisha? (please note: no points are assigned to this question, and there is no incorrect answer. this will simply determine your perception of the priority these issues.)

Answers

The following will be the order in which I believe I will address the issues with Kenisha

Production costthe complexity of the productSize of the product

I have chosen this order because this order is starting from the most important issue to the least important issue. High production cost is a more serious issue than the consumers in the focus group objecting to the size of the product. I have kept the most serious and important issue at the beginning because usually, a listener has a listening attention capacity of not more than 10 to 15mins.

So, I assume Kenisha will listen to me attentively for just starting 10 to 15mins of our conversation. So, in these 10-15 mins I would like to focus and discuss more on the most important issue which is why I canceled the prototype and later followed by the two least important issues. As she needs to understand why I canceled her prototype and what is the major issues in her prototype so that she can improve them and don't repeat them in the future.

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akito has not yet paid the rent on his office for the month. how would this debt be labeled on a balance sheet?

Answers

Akito hasn't paid his office rent for a month. This debt will be labeled on the balance sheet as Rent Income.

Revenue is the result of the sale of goods or services in a company within a certain period. Actually, not only from sales, a company's income can also come from interest from company assets used by other parties, dividends, and royalties. Everything is summed and recorded in the company's books.

In addition, revenue can also be defined as the costs charged to customers or consumers for the price of goods or services. Revenue is an important factor in a company because it is a measure of the progress or decline of a company. The greater the income, the company is considered more advanced, and vice versa.

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Pablo runs a small car washing business in his neighborhood on the weekends. This
past weekend, Pablo earned $284. Prior to opening his car wash, he needed to stock
up on soap, sponges, and towels which cost him $46. He also had his son help him
with the car washing and paid him $25 for his help. What was Pablo's net income for
this past weekend?

Answers

Answer:
$213

Gross is the total amount earned before expenses, net is the amount earned after expenses.

We must subtract the amount of money earned by the amount of money spent. 71-284=213

(figure: aggregate supply) if the economy is at point e, which of the following describes the likely adjustment process?

Answers

If the economy is at point e, adjustment process is likely described as nominal wages increase, and the short-run aggregate supply curve shifts left until actual and potential output are equal. (Option A)

In economics, adjustment process refers to the process through which a market surplus results in a reduction in the quantity supplied or a market shortage leads to an increase in supplied quantity. Quantity adjustment is complementary to pricing. In the given figure, at the point E nominal wages increase, and the short-run aggregate supply curve shifts left until actual and potential output are equal. Short-run aggregate supply describes the relationship between planned national output and the general level of price. The short-run aggregate supply curve illustrated an upward-sloping curve that depicts the total output quantity that will be produced at each price level in the short run. The curve will shift left when the price of key inputs rises until the actual and potential output are equal.

Note: The question is missing options which are a) nominal wages increase, and the short-run aggregate supply curve shifts left until actual and potential output are equal. b) nominal wages decrease, and the short-run aggregate supply curve shifts right until actual and potential output are equal. c) nominal wages increase, and the short-run aggregate supply curve shifts right until potential output is greater than actual output. d) nominal wages decrease, and the short-run aggregate supply curve shifts right until potential output is less than actual output.

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