Answer:
A. Normative Economics
B. Positive Economics
C. Positive Economics
D. Normative Economics
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, an increase in input would lead to a decreases in supply of the good is based on economic theory and facts. An increase in input would increase the cost of production and this would discourage sellers from producing.
Normative economics s based value judgements, opinions and perspectives. For example, the statement - social welfare spending in Sweden occupies too large a portion of the national budget - is based on opinion. To some the expenditure might be even too small. There is no economic theory that can be used to determine if this expenditure is too large or small
Identify the uses of generally accepted accounting principles (GAAP). A. Independent accountants use GAAP to determine the amount of bonuses to be paid to executives. B. Companies use GAAP when preparing financial statements. C. Government uses GAAP to appoint board members for public companies. D. Auditors need to be sure the financial statements are prepared in accordance with GAAP.
Answer:
The correct option is;
B. Companies use GAAP when preparing financial statements
Explanation:
Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.
GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.
A consumer values a car at $20000 and it costs a producer $15000 to make the same car. If the transaction is completed at $18000, the transaction will generate:
Answer:
The transaction will generate a buyer surplus of $2,000 and a sellers surplus of $3,000
Explanation:
A consumer values a car at $20,000
It costs a producer $15,000 to generate that same car
The transaction is complete at $18,000
The first step is to calculate the buyer's surplus
= $20,000-$18,000
= $3,000
The seller's surplus can be calculated as follows
= $18,000-$15,000
= $3,000
Hence the transaction will generate a buyer surplus of $2,000 and a sellers surplus of $3,000
Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities.How much money will they save monthly by the move to Oakland? $1315 $1560 $1665 $1765
Answer:
$1315
Explanation:
by comparison of living standards in both Los Angeles and Oakland, a move to Oakland will mean that Benito's family saves $1315 more than they were able to save in Los Angeles. This because the standard of living in Oakland is not as expensive as Los Angeles.
Cheers.
Answer: First option, (A) $1315
A recently issued FASB standard requires that companies recognize revenue when goods or services are_____to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.
Answer:
Transferred.
Explanation:
FASB is an acronym for Financial Accounting Standards Board. The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors. It was founded in 1972 but began operations fully on the 1st of July, 1973 by replacing the Accounting Principles Board (APB) and American Institute of Certified Public Accountants (AICPA).
A recently issued FASB standard known as the core revenue recognition principle, requires that companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.
An emphasis is placed on proper income statement item recognition under what approach under US GAAP?
Answer:
Revenue /expense approach
Explanation:
As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss
So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered
Under what approach do organizations exhibit little environmental sensitivity, and simply obey laws, rules and regulations?
Answer:
Legal approach
Explanation:
The legal approach refers to an approach which brings every individual as a unique. All persons have to follow the laws enacted by the government if not followed than penalty should be levied. It derives the equivalent protection and the law safety with respect to the society
Therefore according to the given situation, it is a legal approach and the same is to be considered
In 2010, us nominal gdp was estimated to be $14.657 trillion dollars while the real gdp was estimated to be $13.245 trillion. why the difference? what is the significance of the difference between these two measures of gdp? do you expect nominal gdp to be higher than real gdp for most years? explain.
Answer:
Nominal gross domestic product (GDP) measures the market value of all the new and legal goods and services produced in a country within a year. While real GDP adjusts nominal GDP to inflation. Since inflation is generally positive, real GDP decreases as inflation increases. The higher the inflation rate, the larger the difference between nominal and real GDP. Depending on which year is used as base year (year 0), the difference that existed in 2010 can be either significant or not.
The difference = ($14,657 / $13,245) - 1 = 10.66%, which means that nominal GDP was 10.66% higher than real GDP. If the base year is 2000 or even 2005/6, the difference is very small since the accumulated inflation would only be 10.66% for all these years. But if the base year was 2008 or even 2009, then the inflation rate is high.
Pablo bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $300 less than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 6% per year, and for the laptop it was 7% per year. The total finance charges for one year were $252. How much did each computer cost before finance charges?
Answer:
Desktop Cost = $2,100
Laptop Cost = $1,800
Explanation:
Let A = Cost of desktop
Let B = Cost of Laptop
The total finance charge for 1 years is given by
(0.06)A + (0.07)B = 252
(0.06)A + (0.07)(A-300) = 252
(0.06)A + (0.07)A-300 = 252
(0.06)A + 0.07A - 21 = 252
(0.06)A + 0.07A = 252 + 21
0.06A + 0.07A = 273
0.13A = 273
A = 2100
Hence, Desktop Cost = $2,100
Therefore, the Laptop Cost = $2,100 - $300 = $1,800
A client's respiratory status may be affected after abdominal surgery. The nurse documents the behavioral objective for this client. What statement is a behavioral objective?
Answer: Demonstrates the technique of coughing and deep breathing
Explanation:
The behavioral objective the nurse documents or would document would relate to how he acts or live with these Illness, an example is in his coughing and breathing, how well he breath, she does a round of counting, monitoring how heavy he breaths too. When she monitors all these, she is then able to compute an analysis for the objective on how the sick patient is.
what is the importance of small businesses
Explanation:
Business majors learn how to research information using quantitative skills, and then develop ideas based on that information to solve problems.
It helps us cater for our family hence reducing financial stress.
A body in the solar system has a period of 10,759.22 days and a perihelion speed of 10.18 km/s. a. Calculate the aphelion radius in nautical miles (14 points). b. Calculate the eccentricity (2 points). c. Extra credit: Name the object. (6 points).
Answer:
Explanation:
From the information given, by applying Kepler's 3rd law,
[tex]T^2 \alpha a^3[/tex]
where;
T = period
a = semi major axis
T = 356 days (for earth)
a = 1 AU = 1.496 [tex]\times 10^8 \ km[/tex]
Therefore, [tex]T^2 = ca^3[/tex]
[tex]c= \dfrac{365^2}{(1.496 \times 10^8)^3}[/tex]
c = 3.9791 [tex]\times 10^{20} \ day^2/km^3[/tex]
However, if the body in the solar system has a period of 10.759.22 days, then, a =?
∴
[tex]T^2 = ca^3[/tex]
[tex]a3 = \dfrac{10759.22^2}{3.9791 \times 10^{-20}}[/tex]
[tex]a^3 = 2.9092 \times 10^{27}[/tex]
[tex]a= \sqrt[3]{2.9092 \times 10^{27}}[/tex]
a = 1.4275 [tex]\times 10^9 \ km[/tex]
However, the velocity for a perihelion = 10.18 km/s
Using the formula
[tex]v = \sqrt{GM ( \dfrac{2}{r}-\dfrac{1}{a})}[/tex] to calculate the radius, we have:
G = [tex]6.674 \times 10^{-11}[/tex]
M = [tex]1.989\times 10^{30} \ kg[/tex]
r = perihelion
[tex]v ^2= GM ( \dfrac{2}{r}-\dfrac{1}{a})[/tex]
[tex](10.18 \times 10^3) ^2= 6.674 \times 10^{-11} \times 1.989 \times 10^{30} ( \dfrac{2}{r}-\dfrac{1}{1.425 \times 10^{12}})[/tex]
[tex]7.8068 \times 10^{-13}= \dfrac{2}{r}-\dfrac{1}{1.425 \times 10^{12}}[/tex]
[tex]\dfrac{2}{r} = 1.4824 \times 10^{-12}[/tex]
[tex]r = \dfrac{2}{1.4824 \times 10^{-12}}[/tex]
[tex]r = 1.349 \times 10^{12}[/tex]
Similarly, the perihelion is expressed by the equation,
r = a(1 - e)
where ;
e= eccentricity
∴
[tex]1.349 \times 10^{12} = 1.425 \times 10^{12} ( 1 - e)[/tex]
[tex]1.349 \times 10^{12} - 1.425 \times 10^{12}= - 1.425 \times 10^{12} (e)[/tex]
[tex]-7.6\times 10^{10}= - 1.425 \times 10^{12} (e)[/tex]
[tex]\dfrac{-7.6\times 10^{10}}{- 1.425 \times 10^{12}}= (e)[/tex]
e ( eccentricity) = 0.0533
Aphelion radius in natural miles, r = a( 1+ e)
[tex]r = 1.425 \times 10^{12} ( 1 + 0.0533)[/tex]
[tex]r = 1.50 \times 10^{12} \ m[/tex]
to nautical miles, we have:
[tex]r = 1.50 \times 10^{12} \times 0.00054 \ nautical \ mile[/tex]
radius of aphelion [tex]\mathbf{r = 8.10 \times 10^8}[/tex] nautical miles
In respect to the value of a( i.e [tex]1.4275 \times 10^9 \ km)[/tex]
the body of the solar system is Saturn
Liabilities and stockholders' equity of a company are $50,000 and $150,000, respectively. Determine assets using the accounting equation.
Explanation:
*Stationary items*
*1) gel pen 3*
*2) Clutch pencil*
*3) eraser/sharpner*
*4) beads pencils*
Founders should be wary of crowdfunding sites like Kickstarter, because these efforts require founders to give up large ownership stakes to a large number of contributors before they can raise funds to bring products to market.A. TrueB. False
Answer:
B. False
Explanation:
As the name suggests that crowdfunding refers to the funding for a project by having a small amount from the public at large in an internet
Since in the question it is mentioned that the founders should put efforts for giving the high stake of ownership with respect to high contributors before raising the funds to launch a product in the market
But this above requirement should not be necessary
Therefore the given statement is false
In a small company's accounting department, the accounts receivable
coordinator often takes the role of the
A. accounting manager
B. credit and collection manager
c. payroll administrator
D. bookkeeper
Answer:
B
Explanation:
His job is to collect and record credit
In a small company's accounting department, the accounts receivable
coordinator often takes the role of the B) credit and collection manager.
What's the accounts receivable job description?Prepares, posts verifies and records purchaser payments and transactions associated with bills receivable. Creates invoices in step with company practices; submits invoices to customers. keeps and updates customer files, inclusive of name or address adjustments, mergers, or mailing attentions.
The Accounting Coordinator reviews at once to the Accounting supervisor and could on the whole be chargeable for getting ready, recording and administering Payroll and advantages, bills Payable, preferred Ledger, and helping with different monetary reporting approaches.
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Fear of a lawsuit prevents many employers from giving totally honest recommendations to former employees. this reflects a change in the ____ component of the general environment.
Answer:
political/legal
Explanation:
The components of the general environment helps individuals to identify opportunities and threats that exists in an environment and take adequate measures to avoid or exploit them.
In the political/legal component of environment consideration is given to anti trust laws, taxation laws, deregulation, labour laws, and educational policies.
It looks at the legal implications of an action.
In this scenario where fear of a lawsuit prevents many employers from giving totally honest recommendations to former employees, they are considering the political/legal environment.
When the holder (owner) of an index option exercises the contract, the account of the holder will be A) debited the out-of-the money amount. B) debited the in-the-money amount. C) credited the out-of-the-money amount. D) credited the in-the-money amount.
Answer:
credited the in-the-money amount.
Explanation:
When an option is excersised the owner of the option decides to initiate a financial transaction that is carried out by both parties. At the end of the transaction the option contract is terminated.
In this kind of transaction settlement is in cash and not stock. So the option writer takes money to the option buyer and the amount is equal to the value of the option in-the-money.
This will result in a credit to the in-the-money amount.
Several market participants interact in developed markets to organize the exchange of funds from buyers to sellers. Such institutions as investment banks, commercial banks, financial services corporations, credit unions, pension funds, life insurance companies, mutual funds, exchange traded funds, hedge funds, and private equity companies play a key role in facilitating these transfers.
Identify the financial institution based on each description given in the following table:_________.
Description
They underwrite, distribute, and design investment securities for corporations to help them raise capital.
They are established by an employer to facilitate and organize employee retirement funds. They are asset pools that invest in securities that have a potential to give stable returns.
With the use of advanced investment techniques, these largely unregulated portfolios are invested in securities. The investment objective is to offset potential losses by investing in counterbalancing securities. They are open to only a select class of investors.
Financial Institution
Finacial Services Corporations,Commercial Banks, Investment Banks
Life Insurance, Credit Unions, Pension Funds
Exchange Traded Funds, Hedge Funds, Private Equity Companies
Answer:
Description:
They underwrite, distribute, and design investment securities for corporations to help them raise capital.
Financial Institution: Investment banks
Description:
They are established by an employer to facilitate and organize employee retirement funds. They are asset pools that invest in securities that have a potential to give stable returns.
Financial Institution: Pension Funds
Description:
With the use of advanced investment techniques, these largely unregulated portfolios are invested in securities. The investment objective is to offset potential losses by investing in counterbalancing securities. They are open to only a select class of investors.
Financial Institution: Hedge Funds
Charles Clinton Spaulding, one of the pioneering theorists of administrative management, proposed eight _____ of management based in part on his childhood experiences working at his father's fields.
A. foundations
B. necessities
C. considerations
D. fundamentals
Answer:
B, Necessities
Explanation:
Administrative management can be defined as the process of managing information between people in an organization.
One of the pioneering theorists of administrative management was Charles Clinton Spaulding. He was an African-American business leader as well as the head of an insurance company, Mutual life insurance company, the largest black business in the USA at the time.
He postulated 8 necessities of administrative management and they are
1. Cooperation and teamwork
2. Authority and responsibility
3. Division of labor
4. Adequate manpower
5. Adequate capital
6. Feasibility studies/analysis
7. Advertising budget
8. Conflict resolution
Cheers.
A municipality wants to build a water treatment facility, and requires some privately owned land to do so. What procedure enables the municipality to buy the property, even against the owner's wishes?
Answer:
Eminent Domain
Explanation:
The procedure that allows for this is known as Eminent Domain. This allows for the municipality (government) to take private property and convert it into public use if and only if they provide just compensation to the property owners. This procedure is protected/provided by the Fifth Amendment and allows the government to do so even if the property owner does not want to relinquish ownership.
An existing comment can be edited in the _____.
Answer:
Reviewing pane
Explanation:
John Doeber borrowed $150,000 to buy a house. His loan cost was 6% and he promised to repay the loan in 10 equal annual payments. What are John's annual payment amounts?
Answer:
$20,380.16
Explanation:
in order to find the annual payment, we can use the present value of an annuity formula:
present value = annual payment x PV annuity factor
present value = $150,000PV annuity factor (6%, 10 periods) = 7.3601annual payment = present value / annuity factor = $150,000 / 7.3601 = $20,380.16
The UCC requires that HDCs take instruments in good faith. This means that: a.the holders must have performed a special oath before taking the instrument. b.the holders must be assured that the instrument has no defects. c.the holders must be aware that the instrument is defective. d.the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.
Answer: d.the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.
Explanation:
For an instrument to be negotiable, it should be noted that the UCC requires that such instrument have to be signed by the maker or the drawer.
The UCC requires that HDCs take instruments in good faith. This means that the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.
From the perspective of a cashier in a supermarket, the appropriate level for the process scope is __________.
Answer: A. the customer checkout process.
Explanation:
A Process scope refers to the activities performed in one's job level that are necessary to transform inputs into output.
In the case of a Cashier at a supermarket, their job level requires them to take inputs ( good purchased by customers) and transform them to output (process customer payment) which represents the process of a customer checking out.
Their process scope therefore would be just that, the customer checkout process.
Larry is part of the Board of Governors that manages U.S. Monetary policy. He has been elected by the President to serve a single 14-year term. In addition to setting the monetary policy, he is responsible for extending banking services to commercial banks. I
Answer:
Federal Reserve
Explanation:
Federal Reserve System is the financial institution and the central bank of the U.S. The institution provides financial aid to the country. It helps in regulating and maintaining the financial and banking service of the country. All the requirements and responsibilities of the Federal Reserve are laid on the Board of Governors. They help in setting the rate of the discount and rate of interest on the loans.
In the given excerpt, Larry is the part of the Board of Governors in the Federal Reserve System.
Which of the following items is a wardrobe essential for both men and women?
O Khaki pants
O Button-up shirt
O Jeans
O Sneakers
Answer:
Jeans
Explanation:
If you look around you are most likely to see more men than women wearing Khakis and most women don't wear button-up shirts
Sneakers are more worn by men.
In Benny v. City Car Dealership, a state supreme court held that a minor could cancel a con-tract for the sale of a car. Now a trial court in the same state is deciding Daphne v. Even Steven Auto Deals, Inc., a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
a. allow the minor to cancel the contract.
b. disregard the Benny case.
c. order the minor to cancel the contract.
d. require the minor to fulfill the contract.
Yuri wants to pay for his new chair using a check. What must he consider before using that method of payment? Yuri must check his credit history. Yuri must know the interest rate on a furniture loan. Yuri must be sure he has enough left in his checking account for any expenses and automatic payments. Yuri must check his credit card balance.
Answer:
C. Yuri must be sure he has enough left in his checking account for any expenses and automatic payments.
Explanation:
There are different ways to make payment. What he must consider is that Yuri must be sure he has enough left in his checking account for any expenses and automatic payments.
What is checking account?A checking account is known to be a type of bank account that allows a person to make deposit and withdrawal of their money for daily transactions very easy.
This also include when one deposit a check that one receive, taking out cash from the account with your debit card and others. He must make sure he has enough left in his checking account before ordering.
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Claude is an investment adviser representative. One of his clients has recently bought and sold into and out of several investments. None of the investments were held for more than 6 months, and the investor is now asking Claude how to best compare the returns. Claude tells the client to annualize the returns. Why is annualizing the returns a good idea
Answer:
[A] Annualizing the returns would give the client the best representation of each individual investment and allow a better comparison of the performance of all of the investments side-by-side.
Explanation:
At the time when the holding period is varied so it provide the accurate and correct picture of returns, Also in the short periods without considering the annualizing it does not generate the best picture
With short terms returns it does not present the returns that is realized for a longer period of time but here the annualizing would not be same as if is comparing a holding period return with respect to the benchmark
Therefore in the given case, the option A is correct
Correctly match each scenario relating to probable future losses that exist at the balance sheet date with the correct accounting treatment._____Amount of future loss cannot be reasonably estimated_____Amount of future loss can be reasonably estimateda. Accrueb. Disclose only
Answer and Explanation:
In case when the company expected that there is any losses that arise in the future and the same is to be presented in the balance sheet by considering the accurate accounting treatment so the terms that should be used is as follows
For the future loss that does not reasonably predicted should be disclosed only
And, the future loss that can be reasonably predicted should accrue
The same is to be considered
Pompeii, Inc., has sales of $53,000, costs of $24,200, depreciation expense of $2,550, and interest expense of $2,300. If the tax rate is 24 percent, what is the operating cash flow, or OCF
Answer:
$23,052
Explanation:
The computation of operating cash flow is shown below:-
Before that we have to determine the net income which is
Income statement
Sales $53,000
Cost ($24,200)
Depreciation ($2,550)
EBIT $26,250
Interest expense ($2,300)
Earnings before tax $23,950
Tax (5,748)
(24% × $23,950)
Net income $18,202
Now,
Operating cash flow = EBIT + Depreciation - Tax
= $26,250 + 2,550 - $5,748
= $23,052