Answer:
a. Historical Cost Principle = All the assets are recorded at their historical cost except the short term investments.
b. Full Disclosure Principle = All the details of the financial conditions of the company shall be stated properly.
c. Expense recognition principle = All expenses shall be recorded properly, and the cost of intangible assets shall be charged as expense during its useful life as amortisation expense.
d. Industry practice and fair value principle = As stated in (a) also, all short term investments shall be valued at fair value, as crops are their stock it is an industry practice in agricultural sector to record crops at fair value.
e. Economic Entity assumption = The owner of a business and that his business are two different legal persons, as income of business is computed and assessed separately and that the income of the owner is assessed separately.
f. Full Disclosure Principle = As there is a time gap in closing the actual financial year on 31 December and preparing the balance sheet, several transactions which are considered to be of important aspect for the people concerned are disclosed in the balance sheet as events after the balance sheet but before the reporting date.
g. Revenue Recognition principle = Revenue shall only be recorded when the entire risk is transferred to the buyer, and that only the payments are left to be received.
h. Full Disclosure Principle = Again all the financial statements shall disclose all the material facts as for investors interests the full disclosure principle is followed.
A restaurant prepares 200.00 pizza slices and sells them at a rate of $13.00/slice. Expenses for the restaurant include raw material for pizza at $5.00 per slice, $107.00 as monthly rental and $43.00 monthly as insurance. Restaurant is open only for 25 days in a month. Today there was a party at nearby office so the demand for pizza went up to 211.00 slices. Due to lack of availability vendor could not fulfill the demand and analyzed a lost sale as $4.00 per item. How much profit could the restaurant earn today?
Answer:
It earns $1,550
Explanation:
Sales Price $ 13
Variable Cost $ 5
Contribution $ 8
200 slices x $8 = $1,600
Monthly expenses:
$107 rent + $43 insurance = $150
Divided by 25 days per month: $ 6 daily
Then, 11 extra slices incurs in $4 loss
11 x 4 = 44 loss
Total earnings for the day:
$1,600 - $6 fixed cost - $44 loss = $1,550
Mr. Morgan earns $38,000 a year as a salesperson and a 5% commission on all his sales. He has a mortgage of $910 a
month and pays $175 a month for utilities. Mr. Morgan owns a rental property for which he receives $680 per month.
Which is a liability?
the yearly salary
the commission
the mortgage
the rental property
Answer:
C: the mortgage
Explanation:
The monthly mortgage of $910 would be considered a liability for Mr. Morgan as it is a kind of loan taken by Mr. Morgan and the rest of the given amounts are considered as revenues.
What is the balance sheet?The balance sheet is an accounting statement that records the assets and liabilities & equity at the closing of an accounting year. The liabilities and equity is recorded as the first head whereas the second head are the assets.
According to the data provided, the mortgage of $910 is treated as a liability for Mr. Morgan. He records the mortgage as a non-current liability because it is a type of long-term loan taken by him which has to be paid back after a period of one year. The yearly salary of $38,000, sales commission of 5%, and the rental income of $680 are considered to be the revenues for Mr. Morgan.
Therefore, the mortgage of $910 would be the only liability for Mr. Morgan.
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a loan secured in order to buy a property
Answer:
Explanation:
With a secured loan, you give lenders an ownership interest in some of your property. The property guaranteeing the loan is the collateral, and lenders can take it if you don't pay as promised. ... You can also get a secured personal loan that can be used for almost any purpose
List the six areas of interest.
Answer:
Six areas of interest are: building,thinking,creating,holding, persuading and organizing.
Explanation:
Question in picture
A registered representative of a FINRA member firm is going to present a seminar on retirement planning. It will be a slide show, and no specific advice will be given. The expected attendance is approximately 50 people. Under the FINRA rule on communications with the public,
A) this is a public appearance and no approvals are necessary.
B) this seminar can take place only if the recommendations are tailored to the specific needs of the audience.
C) a registered principal is required to attend to ensure that the standards of ethical conduct are maintained.
D) the slides are considered a retail communication and need principal approval before first use.
Answer:
A) this is a public appearance and no approvals are necessary.
Explanation:
In this scenario, a registered representative of a FINRA member firm is going to present a seminar on retirement planning with an expected attendance of approximately 50 people. It will be a slide show, and no specific advice will be given.
Under the FINRA rule on communications with the public, this is a public appearance and no approvals are necessary.
According to FINRA, a public appearance can be defined as an unscripted, spontaneous live presentation to a group of people comprising of potential investors. A public appearance do not require a principal approval and are not bonded by the FINRA rules and regulations.
Additionally, FINRA is an acronym for Financial Industry Regulatory Authority. It is a non-profit agency in the United States of America, which is saddled with the responsibility of handling the licensing and regulation of broker-dealers in securities.
According to FINRA a registered principal is required to attend to ensure that the standards of ethical conduct are maintained.
According to the rule 2210 of FINRA it is required that every communication has to be done fairly and also in good faith.
FINRA is a regulatory organization that ensures that all investors and firms are able to participate well in the market and also have confidence in their dealings by protecting integrity.
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In the communications model, a(n) _________________ will try to capture the customer's attention. A. executive team
Answer:
sender will be the answer not that much to say but I am astonished they they give you a question like this my school was harder and i finished business too
A partnership in which partners share in gains or losses, and carry unlimited liability for all partnership debts, is called a
Answer:
General partnership
Explanation:
A general partnership is a business that is formed and/or owned by 2 or more individuals and who agree to share in profits, assets, liabilities, etc.
As seen from the question also, the general partnership entails sharing in losses and gain as well as carrying unlimited liability.
Cheers.
Businesses are motivated to organize as corporations because stockholders in a corporation have _______ liability for corporate debts
Answer:
D) limited
Explanation:
Theses are options for the question;
A) personal
B) no
C) unlimited
D) limited
Businesses are been allowed to develop as corporations because stockholders in a corporation have limited liability for corporate debts.
Limited liability in finance is one of the important aspect of business between the owner of the business and shareholders, and can be described as legal situation whereby the shareholders as well as the owner of the business protects themselves so that any debts in the business will not be associated to them personally.
Click or tap Quizmo, the InQuizitive alien, in the upper left-hand corner. See what happens, and complete the following sentence. Clicking or tapping Quizmo takes you to the "Take a ________" screen.
Answer:
test
Explanation:
The given quiz has displayed the picture of a African tiger. The test requires to identify the animal with the given picture. The African tiger are slightly different from the other tigers. They have unique facial cuts and their constant anger is known for their nature.
A new per unit subsidy for hybrid car production increases the supply of hybrid cars. If hybrid cars are elastically demanded, what will happen to total revenues from hybrid car production?
Answer:
A) They will rise.
Explanation:
In case when the demand for hybrid cars are in elastic so here the total revenue should be rises as due to the subsidy, the price would decline and the supply rises this results there is a rise in demand that shows elastic so the demand rise at high percentage as compared to decline percentage with respect to the level of price
Due to this, the revenue would increase
Hence, the correct option is A.
An evaluation technique for technology that requires analyzing benefits and risks, understanding the trade-offs, and then determining the best action to take in order to ensure that the desired positive outcomes outweigh the negative consequences.
Techniques used to analyze accomplishments against specific goals and criteria. Examples of assessments include tests, surveys, observations, and self-assessment.
Answer:
assessments
Explanation:
Assessment refers to the technique that is used to make the interference for the students so that they can learned and developed. It includes various things like designing, collecting, analyzing, interpreting, etc
Now for the technology, the evaluation technique is required so that the benefits and risk can be analyzed also the best action to be carried out for coming up with the positive results
So the given situation represents the assessments
Pizza Hut has Bread Sticks 6 for $2.50 and 1-topping pizzas at $12.99. How much is 24 breadsticks and 2-one topping pizzas with tax of 7%?
Answer:
Bread sticks: 6 × $2.50 = $15
Pizza: $12.99
$15 + $12.99 = $27.99
Tax: 7% = 0.07
$27.99 × 0.07 = $1.96 (approximate)
$27.99 - $1.96 = $26.03
hope this helped you!
If you were to purchase an October option with an exercise price of 50 for $8 and simultaneously sell an October option with an exercise price of 60 for $2, you would be
Answer: bullish and conservative
Explanation:
If you were to purchase an October option with an exercise price of 50 for $8 and simultaneously sell an October option with an exercise price of 60 for $2, you would be bullish and conservative.
It should be noted that the exercise price is simply referred to as the price per share that a traded option owner is entitled to either purchase or sell an underlying security. Since the owner of the option decided simultaneously sell an October option with an exercise price of 60 for $2, he or she is bullish and conservative.
Kirby purchased a condominium. He has all rights of ownership, including the right to sell and to convey his property to heirs when he dies. What type of estate is this?
Answer:
Fee Simple Absolute
Explanation:
Fee Simple Absolute this is a form of freehold estate in which the owner has the exclusive right to do as he or she wish on the estate property. This includes all the right such as ownership, to sell, damage, and even pass to heirs when he or she dies. It is considered the greatest type of estate any man can hold.
Hence, in this case, the right answer is Fee Simple Absolute
YES Bank has developed unique product proposition extending the entire benefit of the advancement in the payments landscape to the customer's desktop by pioneering the introduction of the payments on the web. The platform provides online confirmation along with instant settlement for payments making cash flow forecasting easier and precise to the last minute. State the type of e- banking services highlighted in aforesaid case.
Answer:
Net banking
Explanation:
Net banking is also called internet banking or online banking. It is targeted at customers who prefer to do their transactions from the comfort of their home. Rather than coming to the bank to perform transactions.
Various types of transactions are available on the net banking platform such as bank statement, bill payments, money transfers, and even booking of fixed deposit.
YES Bank platform provides online confirmation along with instant settlement for payments making cash flow forecasting easier and precise to the last minute.
They are providing net banking services to their clients.
As of December 31, Year 2, Moss Company had total cash of $195,000, notes payable of $90,500, and common stock of $84,500. During Year 3, Moss earned $42,000 of cash revenue, paid $24,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders.
Determine the amount of retained earnings as of December 31, Year 2.
Answer:
$20,000
Explanation:
Calculation for the amount of retained earnings as of December 31, Year 2.
Using this formula
Retained earnings=Total cash -Notes payable-common stock
Where,
Total cash= $195,000
Notes payable= $90,500
Common stock= $84,500
Let plug in the formula
Retained earnings = $195,000 − $90,500 − $84,500
Retained earnings= $20,000
Therefore the amount of retained earnings as of December 31, Year 2 will be $20,000
Inflation and unemployment
Suppose that the government believes the economy is producing goods and services beyond its optimal level. The government therefore decides to decrease the quantity of money in the economy. This monetary policy______the economy's demand for goods and services, leading to______product prices. In the short run, the change in prices induces firms to produce______goods and services. This, in turn, leads to a_____level of unemployment. In other words, the economy faces a trade-off between inflation and unemployment: Lower inflation leads to______unemployment.
Answer:
Decreases; lower; fewer; higher; higher
Explanation:
Suppose that the government believes the economy is producing goods and services beyond its optimal level. The government therefore decides to decrease the quantity of money in the economy. This monetary policy decreases the economy's demand for goods and services, leading to lower product prices. In the short run, the change in prices induces firms to produce fewer goods and services. This, in turn, leads to a higher level of unemployment. In other words, the economy faces a trade-off between inflation and unemployment: Lower inflation leads to higher unemployment.
Inflation can be defined as the persistent rise in the price of goods and services in an economy. This inflation usually results in an increase in the cost living, prices of an average-weighted basket of goods and services, and high unemployment rates among the people living in the country.
Precision Aviation had a profit margin of 7.00%, a total assets turnover of 1.4, and an equity multiplier of 1.8. What was the firm's ROE?
Answer:
17.64%
Explanation:
Precision aviation has a profit margin of 7%
The total assets turnover is 1.4
The equity multiplier is 1.8
Therefore the ROE can be calculated as follows
= Total assets turnover × equity multiplier × profit margin
= 1.4 × 1.8 × 7
= 17.64%
Hence the ROE is 17.64%
A firm has a current price of $40 a share, an expected growth rate of 11 percent and expected dividend per share (D1) of $2. Given its risk, you have a required rate of return for it of 12%. Your expected rate of return and investment decision is as follows:a. 10% - do not buy.b. 12% - do not buy.c. 14% - buy.d. 16% - buy.e. 18% - buy.
Answer:
d. 16% - buy
Explanation:
R = (D1 / P0) + g
Where, R=Expected Return, P0 = Current Market Price = $40, D1=Expected Dividend=$, g = Expected Growth Rate = 11% = 0.11
Expected Return = R = ($2/$40) + 11%
R = 0.05 + 0.11
R = 0.16
R = 16%
Expected Return is higher than the required return of 12%. Hence, it should be bought (it is expected to give higher return than required)
Gems Corp. is a leading jewelry brand that finds it hard to make as much profit as its competitors. In order to overcome this, the employees of Gems Corp. decide to work harder to provide unique value to customers and increase the sales of the company. After a year, it is able to make more profits than its competitors. This scenario best illustrates ________.
Answer:
competitive advantage
Explanation:
The competitive advantage of a company is what differentiates a company from other companies and attracts customers to the firm.
The competitive advantage of Gems Corp. is to provide unique value to customers
Jason is the new manager of a local retail store. He is in charge of all the activities that take place at the store. During the first two weeks after joining, Jason carefully monitors each employee's tasks and the time spent on performing each of those tasks. He then organizes the tasks and activities into work groups, standardizes the procedures involved, and allocates a time limit for each work group and procedure. Jason informs his employees that their wage incentives will directly reflect their adherence to the new standards. In this case, Jason's actions are consistent with the ideologies of _____.
Answer:
scientific management
Explanation:
Scientific management is a method that aims to increase economic efficiency of workflows particularly labour productivity.
It breaks job to be done into parts and makes sure each one is executed as systematically as possible thereby increasing standardisation and producing better results.
In this scenario Jason carefully monitors each employee's tasks and the time spent on performing each of those tasks. He then organizes the tasks and activities into work groups, standardizes the procedures involved, and allocates a time limit for each work group and procedure.
This is employing scientific management to improve on performance of labour
Children with asthma can have severe asthma attacks if they catch common
respiratory infections. To prevent the spread of germs, you can __
O Make sure children take antibiotics every time they get sick
O Wash your hands and children's hands often with soap and water
O Cover your face with a re-usable handkerchief when you cough or sneeze
O
Both A & B
All of the above can prevent the spread of infections
Answer:
All of the above can prevent the spread of infections
Explanation:
Germs are commonly known to be everywhere and can be spread in various ways, such as through the air in sneezes, coughs, or even breaths.
Hence, in this situation, in order to prevent the spread of germs, it is always advisable to carry out the following:
1. Make sure children take antibiotics every time they get sick
2. Wash your hands and children's hands often with soap and water
3. Cover your face with a re-usable handkerchief when you cough or sneeze
Therefore, the correct answer is "All of the above can prevent the spread of infections."
A company can raise money by doing all but which of the following?
A. Conducting an initial public offering
O B. Taking a loan
C. Providing stock options to executives
D. Issuing bonds
Answer:
B
Explanation:
What is a market economy regulated by?
Answer:
Producers and consumers :)
Explanation:
Market economies are run by buyers and sellers, there is no government involved.
In a team, constructive criticism should focus on what particular team members are doing wrong and how those mistakes hurt the team as a whole .True or false
Answer:
False
Explanation:
Constructive criticism should not only focus on what people are doing wrong, that is just to criticize someone, there is nothing constructive about that. Constructive criticism is about letting other team members know what they are doing well, and what they are doing not so well (or simply wrong), but it should also include how they can use their abilities and capabilities to correct their mistakes.
According to Gerzema Where are some of the changes that consumers or making when it comes to spending money or buying an item what has caused these changes to take place
Answer: The answer is given below
Explanation:
According to Gerzema, some of the changes that consumers are making when it comes to spending money or buying an item include the idea of using debit cards at the expense of credit cards. This implies that individuals are now paying for goods and services with the money that is already with them.
He also said individuals now go after the “liquid life”, where he said that individuals define success on liquidity and not on having things. He also said individuals look at organization's values and that they're always looking for ways to have value for things they buy. The cause of these are the fact that consumers are being empowered and also wants to improve their economy.
Losses due to accidents at an amusement park are exponentially distributed. an insurance company offers the park owner two different policies, with different premiums, to insure against losses due to accidents at the park. policy a has a deductible of 1.44. for a random loss, the probability is 0.640 that under this policy, the insurer will pay some money to the park owner. policy b has a deductible of
d. for a random loss, the probability is 0.512 that under this policy, the insurer will pay some money to the park owner. calculate
d.
XYZ Escrow has gone out of business. They committed one of THE violations of all violations of escrow holder regulations. What is the violation?
Answer:
B. XYZ Escrow did not maintain the records and files of its clients. Due to poor record keeping, several accounts at XYZ were overdrawn.
Explanation:
An Escrow business is one in which an individual enters into a contract with another person whereby he is expected to hold a valuable material such as money, the documents of a real estate property, jewelry, etc., until an agreed event occurs. In running this business, it is very important that a written contract is signed by both parties, and that accurate records of materials that are deposited and their owners are maintained.
Failure to do that would result in the closure of the business as in the case of XYZ Escrow. This is because the organization would be unable to account for the valuables and money deposited, and so, Escrow accounts can be overdrawn.
Forms of business organizations
Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP)
Different forms of businesses have different characteristics. Which of the following characteristics would apply to a limited liability company and a limited liability partnership?
A. LLPs are not suitable for professional firms such as accounting, law, and architecture.
B. Owned by single individual.
C. Owners have limited liability and right to vote.
D. Have corporate ownership structure.
E. Taxed as a partnership.
F. Limited financial liability
You come across different kinds of businesses every day. The following table describes some businesses. Using the description of each business, classify it as a sole proprietorship, a partnership, a corporation, or a limited liability company/limited liability partnership.
Business Scenario Type of Business
Selena and Mario run a law firm in Chicago. LLC/LLP
The firm has debt of $100,000, but Selena
and Mario will not be held personally liable for
the law firm's debt.
Chris, the CEo of a beverage company, is Sole Proprietorship
required to certity the accuracy of information Corporation Partnership
provided in the company's quarterly reports LLC/LLP
Brandon started a business, based in a different
state, with his uncle. Due to the business's under-
performance, they had to close the business.
Brandon, however, ended up losing his house due
to a litigation claim.
Richard founded and operated a wedding planning
agency, which specialized in celebrity weddings.
When he died, his business was dissolved because
there was no plan for control after his death.
Answer:
Forms of business organizations
1. Characteristics that would apply to a limited liability company and a limited liability partnership:
F. Limited financial liability
2. Business Scenario and Type of Business
a. Selena and Mario run a law firm in Chicago. LLC/LLP . The firm has debt of $100,000, but Selena and Mario will not be held personally liable for the law firm's debt. Limited Liability Partnership
b. Chris, the CEo of a beverage company, is Sole Proprietorship
required to certify the accuracy of information Corporation Partnership
provided in the company's quarterly reports LLC/LLP
c. Brandon started a business, based in a different state, with his uncle. Due to the business's under- performance, they had to close the business. Brandon, however, ended up losing his house due to a litigation claim. Partnership
d. Richard founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death. Sole Proprietorship
Explanation:
A sole proprietorship is owned by one person without the advantage of being registered as a company (LLC). A partnership is a business organization owned by more than one person without the advantage of limited liability of the partners or being registered as a company (LLC). A corporation is an incorporated business organization with limited liability for the shareholders. Limited liability company (LLC) is a corporation that is owned by individuals with the advantage of limited liability. A limited liability partnership (LLP) is a partnership or business organization owned by more than one person which enjoys limited liability.