Answer:
Ophelia Inc.
Assuming that the company utilizes the allowance method, Ophelia should record a(n):
decrease in Accounts Receivable
Explanation:
This means that the accounts receivable will be credited while the allowance for doubtful accounts is debited to record the decreased value. The Patton Inc. account may not be recovered fully. However, the amount of the decrease depends on the amount that can be recovered from Patton. Thereupon, the accounts receivable will first be credited with the cash recovered with the corresponding debit entry in the Cash account.
class 12 accounts chapter 1 npo additional questions
• Lack of financial security
• Difficulty in securing variety of financial services
• Increased financial costs
Who is being described?
A)
travelers
B)
immigrants
o
unbanked people
D
undocumented workers
Answer:
Unbanked people
Explanation:
What is the difference between a price floor and a price ceiling?
a. A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
b. A price floor is the maximum price allowed for a good. A price ceiling is the minimum price allowed for a good.
c. A price ceiling below the equilibrium price has no effect.
d. A price floor above the equilibrium price has no effect.
Hi there, mate!
Answer:
a. A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
Explanation:
As the name suggests, a price floor is the lowest amount of money the price of a good can be. For example, if you were selling a dress, there is a price floor. There is also a price ceiling. You can not go over the price ceiling if you want to get more customers. So, the answer to the question is option A.
Answer: The correct answer is A
While taking an application, an originator learns that his potential borrower receives income from a public assistance program. Without even running a full pre-qualification, the originator tells the would-be borrower that he cannot help someone who is receiving public assistance. This originator is in violation of the:
Answer:
Equal Credit Opportunity Act (ECOA).
Explanation:
The Equal Credit Opportunity Act (ECOA) is a federal law that was enacted on 28th of October, 1974 by the US Congress. It was created by the government of the United States of America so as to avail all individuals (borrowers) an equal opportunity to obtain loans and other types of credits from creditors (lenders) without any form of discrimination based on factors such as religion, colour, race, marital status, age (provided he or she is mature), sex, etc.
In this scenario, the originator is in violation of the Equal Credit Opportunity Act (ECOA) because an originator is prohibited from basing a decision to give or grant credit to an applicant (would-be borrower) due to the fact that he or she receives income from a public assistance program.
I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and we make $200,000 a year profit with me working my tail off. Our distributor, Road Runner Representatives, made over $800,000 in commissions. I don't understand why they are making all of that money when all they do is run around all day and say beep-beep to customers. I think we should lower the commission rate to bring their income down to a more reasonable level. This is an example of
Answer:
This is an example of vertical conflict.
Explanation:
A vertical conflict can be described as a conflict that occurs between two different types of members in a distribution channel - for example, a manufacturer, an agent, a wholesaler, or a retailer.
In the question the Acme enterprises which its president, Wiley Coyote, represents is the manufacturer; while their distributor is the agent. In this case, a vertical conflict is said to have occurred between the manufacturer and the agent who are both different types of members of the same distribution channel.
Therfore, this is an example of vertical conflict.
At the beginning of June, Circuit Country has a balance in inventory of $2,000. The following transactions occur during the month of June.
June 2 Purchase radios on account from Radio World for $1,700, terms 1/15, n/45.
June 4 Pay freight charges related to the June 2 purchase from Radio World, $200.
June 8 Return defective radios to Radio World and receive credit, $300.
June 10 Pay Radio World in full.
June 11 Sell radios to customers on account, $3,000, that had a cost of $2,200.
June 18 Receive payment on account from customers, $2,000.
June 20 Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30.
June 23 Sell radios to customers for cash, $4,300, that had a cost of $2,600.
June 26 Return damaged radios to Sound Unlimited and receive credit of $300.
June 28 Pay Sound Unlimited in full.
Required:
1.
Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2.
Prepare the top section of the multiple-step income statement through gross profit for the month of June
Answer:
Part 1
Recording of transactions
June 2
Debit : Merchandise Inventory $1,700
Credit : Accounts Payable $1,700
June 4
Debit : Freight expenses $200
Credit : Cash $200
June 8
Debit : Accounts Payable $300
Credit : Merchandise Inventory $300
June 10
Debit : Accounts Payable $1.400
Credit : Discount received $14
Credit : Cash $1,386
June 11
Debit : Accounts Receivables $3,000
Debit : Cost of sales $2,200
Credit : Sales Revenue $3,000
Credit : Merchandise Inventory $2,200
June 18
Debit : Cash $2,000
Credit : Accounts Receivables $2,000
June 20
Debit : Merchandise Inventory $2,800
Credit : Accounts Payable $2,800
June 23
Debit : Accounts Receivables $4,300
Debit : Cost of sales $2,600
Credit : Sales Revenue $4,300
Credit : Merchandise Inventory $2,600
June 26
Debit : Accounts Payable $300
Credit : Merchandise Inventory $300
June 28
Debit : Accounts Payable $2,500
Credit : Discount received $75
Credit : Cash $2,425
Part 2
Circuit Country
Multiple-step income statement for the month of June
Sales Revenue ($3,000 + $4,300) $7,300
Less Cost of Sales ($2,200 + $2,600) ($4,800)
Gross Profit $2,500
Explanation:
Part 1
Perpetual inventory system keeps accurate records of the cost of sales and inventory balance after each and every purchase and sale made.
Also remember, Payments are always made less of credit allowance and discount (if payment is done within the discount period).
Part 2
A multiple -step up to gross profit is required. The data concerning Sales and Cost of Sales can be easily extracted from the records.
In measuring changes in the standard of living of a country, economists rely heavily on comparisons over time of real GDP per capita because: ANSWER Unselected despite its well-known flaws, it is the best means we have of comparing the performance of an economy over time Unselected it includes the value of all production and satisfaction factors in the economy Unselected it is a very precise, almost perfect measure of well-being Unselected I DON'T KNOW YET
Answer:
despite its well-known flaws, it is the best means we have of comparing the performance of an economy over time
Explanation:
Standard of living = real GDP per capita = real GDP / population
the higher the real GDP per capita of a country, the higher the standard of living.
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
The GDP has some flaws and some of these flaws are that some items are omitted in the calculation of GDP :
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
According to the liquidity premium theory of the term structure, A. the interest rate on long-term bonds will equal an average of short-term interest rates that people expect to occur over the life of the long-term bonds plus a liquidity premium. B. buyers of bonds may prefer bonds of one maturity over another, yet interest rates on bonds of different maturities move together over time. C. even with a positive liquidity premium, if future short-term interest rates are expected to fall significantly, then the yield curve will be downward-sloping. D. all of the above. E. only A and B of the above.
Answer: D. all of the above.
Explanation:
The liquidity premium is the amount that is added to the interest rate in order to compensate investors for buying longer term and less liquid securities. This is why the interest rates on log-term bonds include a liquidity premium.
It is true that depending on preference, buyers of bonds prefer to buy one maturity over another but overall, the interest rates on different maturities move together in that an increase in the short term would see an increase in the long term.
Even if the liquidity premium is positive in order to compensate investors for longer maturities, it would not be enough to pull the interest rates up if they are falling significantly which would lead to a downward - sloping yield curve.
Mr. Branson is the CEO for a social media firm and works with his office door closed. At the same time every hour he opens the door to see what his employees are doing. The employees have learned to work especially hard during the five minutes before and while the door is open. Their work pattern is typical of responses that are reinforced on a ________ schedule
Answer:
fixed-interval
Explanation:
Fixed interval schedule of monitoring by Supervisors in a workplace is the used of a fixed time to evaluate the activities that are happening in an organisation.
For example in this case Branson is at the same time every hour he opens the door to see what his employees are doing.
However they only work hard when the door opens and relax afterwards.
The main disadvantage of fixed interval schedule is that responses are high at the point of monitoring and declines afterwards.
The best option will be to use a random schedule that way the respondents will always be doing their best in case they are being monitored
Select the form of diversity that is best described by the following example. After working with his team for a while, Patrick realizes that his team is more diverse than he initially thought. The members come from a variety of functional backgrounds and have a wide variety of work experiences. Variety diversity Separation diversity Disparity diversity Deep-level diversity
Answer:
Variety diversity
Explanation:
It is correct to state that the form of diversity found in the example above is the diversity of variety, which corresponds to the inclusion of people of different cultures, genders, races, ages, etc., in a workplace.
This diversity can be very positive and add a lot to the efficiency of the team, which with a greater variety of functional backgrounds and work experiences can contribute with their experiences and knowledge.
All of the following statements regarding liability losses are correct, except: A Property damage includes physical damage to tangible property, including loss of use of that property B Bodily injury includes personal injury, physical injury, sickness and disease C Personal injury includes libel, slander, and false arrest D Loss of consortium means the loss of companionship of a husband or wife
Answer: D. Loss of consortium means the loss of companionship of a husband or wife
Explanation:
For the purposes of liability losses, loss of consortium does not refer to the loss of companionship of a husband and wife but rather refers to when the spouse is injured or killed due to negligence on the part of the defendant.
There is therefore no loss of companionship. For the purposes of liability losses, property damage does indeed include physical damage to tangible property and bodily injury does include personal injury. Libel and slander are also considered personal injury.
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friendLauren owns a spa and is contemplating whether to eliminate facials from her menu of services. To decide, she asked a few customers their opinion. But these particular customers never had a facial before, so they told Lauren to eliminate this service. And she did. What general principle did Lauren fail to follow in trying to measure performance
The general principle Lauren failed to follow when measuring performance is not cutting corners.
What is performance measuring?This is an instrument to evaluate the performance or efficiency of a product or service in a company.
What is the not cutting corners principle about?This principle implies evaluations should be done completely, rather than making it in the easiest way possible because this will cause a negative impact.
What did Lauren do wrong?Lauren failed the not cutting corners principle because she did not ask most of her clients before making this important decision.
Learn more about performance in: https://brainly.com/question/17101546
Which federal regulatory agency would most likely bring a civil suit against a business that broke securities laws?
Which federal regulatory agency would most likely bring a civil suit against a business that broke securities laws?
answer:
THE SEC
Which role does a manager plays in handling problems and situations which will lead to organizational happiness and prosperity
Answer:
Managers play key role in handling problems in the organization.
Explanation:
Managers act as leaders in any organization. Employees follow their order if they inspire them. Rude and harsh managers cannot dictate employees. Managers play very important role in problem solving. There can be work related problems or some dispute among employees but it is duty of managers to calmly understand the problem and find a solution which is beneficial for the entire organization.
Which one of these values can you usually expect from persons of integrity?
Answer:"They take responsibility for their actions."
Explanation:
Among the following choices one of the values that you can usually expect from persons of integrity is that they take responsibility for their actions. They are really respected by other people.
Under an acceptable method of costing by-products, inventory costs of the by- product are based on the portion of the joint production cost allocated to the by-product Select one: a. minus any subsequent processing cost. b. plus any subsequent processing cost. c. but any subsequent processing cost is debited to the cost of the main product. d. but any subsequent processing cost is debited to revenue of the main product
Answer:
b. plus any subsequent processing cost.
Explanation:
In the case of the acceptable costing method for by-products the inventory cost that are depend upon the joint cost should be distribution to the by-product plus if there is any processing cost
that means
Inventory cost of the bu-product = joint cost + processing cost
Therefore the same should be considered
Steel Authority of India Ltd. (SAIL) is contributing regularly for education, agriculture, health care and clean drinking water supply for the people living nearby their steel plants.
Answer:
Corporate social responsibility
Explanation:
In simple words, the given statement signifies corporate social responsibility. Corporate social responsibility (CSR) can be understood as the sort of worldwide commercial corporation self-regulation which tries to participate to humanitarian, activism, or philanthropic communal objectives by contributing or sponsoring ethically-oriented actions. Businesses are progressively resorting to corporate social responsibility (CSR) to make a significant change and develop a positive image.
A company is considering the purchase of a new machine for $48,000. Management expects that the machine can produce sales of $16,000 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $8,000 per year plus depreciation of $4,000 per year. All revenues and expenses except depreciation are on a cash basis. The payback period for the machine is 12 years. True False
Answer:
False
Explanation:
Annual cash inflow = Sales revenue - Cash expenses
Annual cash inflow = $16,000 - $8,000
Annual cash inflow = $8,000
Cost of machine = $48,000
Payback period = Cost of machine/Annual cash inflows
Payback period = $48,000/$8,000
Payback period = 6 years
So, the payback period for the machine is 6 years.
Angelina hires Brad to drive a truck to a depot 200 mile away.She specifies the route that he is to take and tells him to be sure to arrive by 5:00 pm.On the way,Brad finds himself nodding off due to hunger.He checks the time and finds that he has plenty of time to make the 5:00 pm deadline so he decides to stop at a diner that he is familiar with.The diner is ¾ of a mile off of the route that Angelina had specified.Brad does not call Angelina to ask for permission.On the way to the diner,Brad runs a light and has a collision with Billy Bob.Billy Bob sues Angelina.
A) Angelina wins because Brad was on a detour, freeing her from liability
B) Angelina wins because Brad was on a frolic, freeing her from liability
C) Angelina loses because Brad was on a detour, so she is liable
D) Angelina loses because Brad was on a frolic, so she is liable
Answer: C) Angelina loses because Brad was on a detour, so she is liable.
Explanation:
Brad was acting under the employ of Angelina so Angelina will be liable for his actions while he is on duty so long as he is acting under the bounds of his employment commitments to her.
According to U.S. law, an employee is still within the bounds of employment commitment if they take a detour vs a frolic. As Brad only took a detour, he is still maintaining his commitments which means that Angelina is liable for his actions.
A fire in Sarah’s factory causes her to shut the factory doors for 50 days. To limit her loss of income and keep production going, Sarah spends $125,000 renting equipment and another building. Sarah's commercial property policy doesn't have Business Income Coverage, but it does include Extra Expense Coverage. The limit on her Extra Expense coverage is $100,000 and she has Limits of Loss Payment of 40%/80%/100% during her period of restoration. How much indemnification will Sarah receive for her extra expenses?
Answer:
$80,000
Explanation:
Calculation to determine How much indemnification will Sarah receive for her extra expenses
First step is to determine her Limits of Loss Payment
Limits of Loss Payment=$100,000/$125,000
Limits of Loss Payment=0.80*100
Limits of Loss Payment=80%
Now let calculate her Indemnification amount using this formula
Indemnification amount =Extra Expense coverage*Limits of Loss Payment
Let plug in the formula
Indemnification amount =$100,000*80%
Indemnification amount =$80,000
Therefore the amount of indemnification that Sarah will receive for her extra expenses is $80,000
A broker sells a house advertised "as-is." There are no obvious defects that would be evident to a prudent buyer upon inspection, but the seller and the broker know that the plumbing is very defective. The buyer moves in and discovers the defects. The buyer then sues the broker and the seller for misrepresentation. The suit will probably be
Answer: (B) Successful, because the "as is" clause does not override the sellers' and brokers' duty to fill out a Transfer Disclosure Statement revealing all known material facts whether the defects are evident or not.
Explanation:
Just because a house is sold "as -is" does not mean that the person buying should be responsible for any defects that they did not know about when they bough the property.
If the seller and the broker know of any defects, they are required to disclose them in a Transfer Disclosure Statement that would inform the buyer of the defect so that the buyer would decide if they would still buy the property with the defect.
The buyer will therefore be successful in such a lawsuit.
what is decomposition?Name two types of decomposers and describe their importance.....
Answer:
A decomposer is an organism that decomposes, or breaks down, organic material such as the remains of dead organisms. Decomposers include bacteria and fungi. Mushrooms, such as those in the image above, are a type of fungus and play a role in decomposition.
It has been said that no two people on an airplane pay the same price for a ticket. Prices tend to be lower if you are willing to book you trip well in advance and tend to be much higher if you have to book your trip on short notice. A non-refundable ticket costs less than a refundable ticket. Airlines use this ___________ in order to maximize the revenue they earn from each flight.
Answer:
Yield management pricing.
Explanation:
HELP! D:<
Which are advantages of a partnership? (Check all that apply)
O sharing of profits with hundreds of stockholders
O more flexibility with time than a sole proprietorship
O potential conflict with partners
O shared liability
Answer:
O sharing of profits with hundreds of stockholders
O more flexibility with time than a sole proprietorship
O shared liability
Explanation:
In a business association, you can divide the benefits any way you need, under one condition—all colleagues should be in arrangement about benefit sharing. You can decide to divide the benefits similarly, or each accomplice can get an alternate base compensation and afterward the accomplices will divide any leftover benefits.
In a sole proprietorship, you do not have a lot of business uncertainity. You can also divide your shares and let other people have some of them. Unlike the diadvantages of not having a partnership, the liability is divide among all the shareholders.
Jon enjoys fishing (which costs $20) and golf (which costs $30) and has $140 to spend each month on these activities. Last month, Jon fished four times and golfed twice. The last fishing outing provided Jon a marginal utility of 50, and the last round of golf provided a marginal utility of 120. What is Jon's marginal utility per dollar spent on the last time fishing
Answer:
Fishing - 2.5 and Golfing - 4
Explanation:
Calculation to determine What is Jon's marginal utility per dollar spent on the last time fishing and golf
Last fishing outing produced =50 / $20
Last fishing outing produced = 2.5 units of utility per dollar.
Last round of golf provided= 120 / $30
Last round of golf provided= 4 units of utility per dollar
Therefore Jon's marginal utility per dollar spent on the last time fishing and golf is Fishing - 2.5 and Golfing - 4
Zhang Industries sells a product for $600. Unit sales for May were 500 and each month's sales are expected to grow by 2%. Zhang pays a sales manager a monthly salary of $4,500 and a commission of 1% of sales in dollars. Assume 35% of Zhang's sales are for cash. The remaining 65% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.
Answer:
the budgeted cash receipts for June is $306,000
Explanation:
The computation of the budgeted cash receipts for June is given below:
Sales for June 510 units (500 × 1.02)
Receipts from cash sales $107,100 (510 × $600 × 35%)
Receipts from credit sales $198,900 (510 × $600 × 65%)
Budgeted cash receipts for June $306,000
Hence, the budgeted cash receipts for June is $306,000
FindFor Inc. is an e-commerce retailer that sells a variety of merchandise. Through differentiating services like cash on delivery, easy return, and online tracking, the company has created more value for customers than its competitors (traditional, non-e-commerce businesses). Based on the information provided, it can be said that FindFor has a clear _____________ that provides the company with a competitive advantage over its competitors.
Answer:
strategic position
Explanation:
Given that a Strategic position is a form of the technique used by business managers to ensure their firms are delivering their commodities or services at a method that creates additional value and quite different than their competitors. It is often in terms of lower cost, or premium features.
Hence, in this case, and based on the information provided, it can be said that FindFor has a clear STRATEGIC POSITION that provides the company with a competitive advantage over its competitors.
Match each component of a mortgage with its definition.
the amount a borrower needs to have
on hand to obtain a mortgage
taxes
the amount initially borrowed from a
lender
fees
the additional costs a lender charges
for processing a loan
principal
payments homeowners are required
to make each year to the government
down payment
Answer:
Fees-the additional costs a lender charged for processing a loan
Principal-The amount initially borrowed from a lender
Taxes-payments homeowners are required to make each year to the government
Down payment- the amount a borrower needs to have on hand to obtain a mortgage
Explanation:
The HR recruiting specialist and line managers at Clearwater Electronics work closely together when hiring new employees . The line managers are ultimately responsible for the final selection of a new employee , but the HR recruiting specialist serves an important role by providing information about potential employees and arranging for interviews . Why is this service helpful to the line managers ? The recruiting specialist can help the line managers from rushing the hire because there is an immediate need to fill positions The recruiting specialist can help the line managers from expecting too much too soon from new employees . The recruiting specialist can help the line managers from interviewing applicants who are not qualified for the positions . The recruiting specialist can help the line managers from relying too much on the interview , a common recruiting pitfall .
Answer: The recruiting specialist can help the line managers from interviewing applicants who are not qualified for the positions .
Explanation:
Since the line managers are responsible for the final selection of a new employee while the HR recruiting specialist gives information about potential employees and arranging for interviews, then the recruiting specialist can help the line managers from interviewing applicants who are not qualified for the positions.
By getting information from the potential employees, the recruiting specialist can know the people who are qualified for the job and possess the necessary requirements for the job and those who aren't qualified.