Answer:
The correct answer is A
Explanation:
Economic well being is described or states as having the future as well as the present financial security. It involves the ability to make the choices of the economic and have a sense of satisfaction, security and the personal fulfillment with the one's employment pursuit and the personal finances.
So, in order to assess or evaluate the economic well being, one should compare the situation of his or her economic well being with that of most of the people who are alive today.
To assess your economic well-being, it is best to compare yourself to your neighbors or people in similar situations. This approach, supported by social comparison theory, provides a more realistic measurement of your status. Option C is the most appropriate choice
When trying to assess your economic well-being, it is generally advised to compare yourself to people who are similar to you in terms of socioeconomic status, geography, or community. This concept is known as social comparison theory.
Comparing yourself to people who are in a vastly different situation, such as Donald Trump, can lead to unrealistic expectations and feelings of inadequacy. Therefore, among the options given, option A, comparing your situation to most people alive today, might seem reasonable, but it is more practical to make comparisons with those around you, as indicated in option C, comparing yourself to your neighbors. This method of social comparison helps you gauge your status more accurately within a context that closely relates to your own.A company purchased office supplies costing $3,000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $600 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be:
debit Office Supplies Expense, $3,600; credit Office Supplies, $3,600.
debit Office Supplies, $600; credit Office Supplies Expense, $600.
debit Office Supplies Expense, $2,400; credit Office Supplies, $2,400.
debit Office Supplies, $2,400; credit Office Supplies Expense, $2,400.
The balance in the prepaid rent account before adjustment at the end of the year is $12,000 and represents three months rent paid on December 1. The adjusting entry required on December 31 is:
debit Prepaid Rent, $4,000; credit Rent Expense $4,000.
debit Prepaid Rent, $8,000; credit Rent Expense, $8,000.
debit Rent Expense, $12,000; credit Prepaid Rent, $12,000.
debit Rent Expense, $4,000; credit Prepaid Rent, $4,000.
Answer:
1. Debit supplies expense $2,400
Credit office supplies $2,400
2. Debit Rent expense $4,000
Credit Prepaid rent $4,000
Explanation:
1. During the time of acquisition, the company recorded it as an asset entirely, that is why they debited the whole amount as office supplies. At the end of the year, the company must recognize the expense portion of the supplies they have recorded at the beginning. The supplies on hand is only $600, therefore the company have used the $2,400 portion ($3,000 - $600). To recognize the expense portion, we must debit it and credit the asset account. So, debit supplies expense and credit office supplies in the amount of $2,400.
2. During December 1, the company uses asset method of recording the transaction that is why they have recorded the entire amount to prepaid rent. At the year end, the company must recognize the expire portion of the prepaid rent they have recorded previously. $12,000 represents 3 months of prepaid rent therefore, a rent expense of $4,000 per month occurs. The adjusting entry to record the expire portion of the prepaid rent is to debit Rent expense and credit Prepaid rent in the amount of $4,000.
Accounting is an information and measurement system that: I.Communicates business activitiesII.Identifies business activitiesIII.Records business activitiesIV.Helps people make better decisions
Answer:
I.Communicates business activities
II.Identifies business activities
III.Records business activities
IV.Helps people make better decisions
Explanation:
Accounting is an information measurement system that identifies business activities, records the business transactions as they occur, in order in which they occur, communicate the result of operations to interested parties which helps all the stakeholders make informed decision.
The main goal of accounting information is to communicate the true and fair view position of the entity to people that may want to make informed judgment on the entity.
Accounting is an information and measurement system using money as a unit of account to record and communicate business activities. The aim is to assist businesses in their compliance with regulations while reaching their profit goals and contributing to national accounts such as GDP.
Explanation:Accounting is indeed an information and measurement system that identifies, records, and communicates business activities and aids in decision making. This involves the use of money as a unit of account, the common denominator used to measure and record values. This allows accountants to charge for a service, such as filing your tax return, in a quantifiable measure.
Businesses, operations aiming to sell goods or services for profit, are subject to laws and regulations. Accounting helps businesses comply with these laws while attaining their profit goal.
These business activities are also reflected in national accounts such as Gross Domestic Product. Knowing how to interact with these components contributes to the effective management of business activity and decision making.
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Many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in today. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel
a. cognitive bias.
b. postpurchase cognitive dissonance.
c. psychological risk.
d. need recognition.
Answer:
b. postpurchase cognitive dissonance.
Explanation:
Cognitive dissonance: The term cognitive dissonance is defined as a phenomenon in which an individual's beliefs, behaviors, and ideas contradict or did not match with each other and therefore it creates a state of unease.
Post-purchase cognitive dissonance: The term post-purchase cognitive dissonance is defined as the phrase or context we provide to a particular state of difficulty or unease that exists in an individuals' or customers' mind just after buying or purchasing a particular service or product.
Sloane, Inc., issues 25,000 shares of its own common stock in exchange for all of the outstand- ing shares of Benjamin Company. Benjamin will remain a separately incorporated operation. How does Sloane record the issuance of these sha
Answer:
Explanation:
Shares issued will be recorded at fair value as if the stock was sold and the money obtained spent to acquire the subsidiery.
The common stock account is recorded at the par value of these shares and additional amount in excess will be as additional paid-in capital
Which of the characteristics below does NOT describe a project? a. Time-bound b. Progressively elaborated c. Permanent d. Creates a unique product or service
Answer:
a
Explanation:
I just guessed I really dont know nothing about this
On October 1, the accounts receivable account balance was $115,020. During October, $449,350 was collected from customers on account. Assuming the October 31 balance was $130,050 determine the fees billed to customers on account during October.
Answer:
$464,380
Explanation:
The fees billed to customer during the month of the October can be determined using the following formula:
Fees billed to customer=Closing balance of accounts receivables+amount collected from customers-opening balance of accounts receivables
In this question:
closing balance of accounts receivables=$130,050
amount collected from customers=$449,350
opening balance of accounts receivables= $115,020
Fees billed to customers=$130,050+$449,350-$115,020=$464,380
At the recent school board meeting, five individuals spoke on both the merits and problems with full-day kindergarten as compared to half-day kindergarten. After the meeting, your friend Corrine tells you, "I don't think there is any way they can justify full-day kindergarten at this point. Did you hear all those statistics about the high costs versus low benefits?" You reply that there was good evidence on both sides of the issue. Corrine frowns and tells you that she doesn't remember it that way. By tuning out part of what was said at the meeting, Corrine appears to be exhibiting ________ listening.
Answer:
defensive listening
Explanation:
Defensive listening happens when an individual hears an apparently innocent commentary and takes it as a personal attack against himself/herself or their beliefs. Many times defense listening is caused because the individual constantly believes that other people are judging them or their ideas.
In this case, Corrine was offended by a commentary that was not intended to be a personal attack, but rather an opinion on a specific topic. Probably Corrine feels strongly against the idea of full-day kindergarten and that is why she felt attacked by a different opinion.
In which case may a commercial real estate licensee be allowed to substitute training in other state and federal discrimination laws for fair housing continuing education?
Answer: After submitting a notarized affidavit stating that he does not and will not practice residential real estate to the board
Explanation: A notarized affidavit is an affidavit that can be used in any Court of Law as an evidence of a financial activity,Transfer of real estate etc. This affidavit must be done under Oath so that any false claims can be purnishable under the relevant laws guiding the land.
For the an affidavit to be accepted by the Court or for other establishments like schools it must be signed by a NOTARY( a person given the power to execute certain acts in legal matters such as witnessing and signing of documents).
The cyclical deficit is $400 billion, potential output is $9 trillion and the tax rate is 16 percent. With this information, we can infer that the actual output of this economy is:__________________.
The cyclical deficit is $400 billion, potential output is $9 trillion and the tax rate is 16 percent. With this information, we can infer that the actual output of this economy is : $6.5 trillion.
Explanation:
The cyclical deficit occurs at the bottom of an economic cycle. A deficit occurs when the government spends more than they take in and the expenditure is more.
For calculating the cyclical deficit the tax rate must be multiplied by potential output subtracted from the actual output. So from this, we get to form that the actual output is $6.5 trillion.
In your computer repair business, it takes an employee 40 minutes to remove a virus. The employee is paid $14 per hour. What is the direct cost of this service.
Final answer:
The direct cost of the virus removal service is calculated by finding the fraction of an hour spent on the service and multiplying it by the hourly wage, resulting in a cost of $9.33.
Explanation:
To calculate the direct cost of the virus removal service provided by an employee paid $14 per hour, we need to consider how much of an hour is used to remove a virus. Given that it takes 40 minutes to remove a virus, which is ⅓ of an hour, we can proceed as follows:
First, we convert 40 minutes into hours by dividing by 60 (40 minutes ÷ 60 minutes/hour = ⅓0.6667 hours).Next, we calculate the cost for ⅓ of an hour by multiplying the hourly rate by 0.6667. The calculation would be $14 per hour × 0.6667 hours = $9.33.Therefore, the direct cost of the service is $9.33.
If a company states in its advertisements that 10 percent of all profits go to planting trees in various parts of the world, that company is engaging in _____ marketing. A. value proposition B. accountability C. green D. brandfest E. branded content
Answer:
C. GREEN MARKETING
Explanation:
Green Marketing is marketing of products proclaimed as environmentally safe. This marketing incorporates many important P's of Marketing : Product ('green' production process), Packaging (eg: biodegradable).
This type of marketing can also includes 'Corporate Social Responsibility' , investment in environmental upgradation as is the case in the question.
Value Proposition is statement to consumers' convincing their product distinctive worthiness. Brandfest is prospecting consumers collecting event , eg- exhibition. Branded Content is marketing through creation & dissemination of content . None of these three are related to it.
Madeline is recording revenues and expenses. When doing this, she is following the guidance set forth in which of the following Statements of Financial Accounting Concepts?
Answer:
It is called matching concept
Explanation:
Matching concept : It states that revenues generated for a particular period should be matched with expenses incurred in generating same revenue.
The rationale is that, it is impossible to generate revenue without incurring operational and other expenses required for running the business,hence, the two must be matched together to establish if there is profit or loss.
Determine whether the study depicts an observational study or a designed experiment. A researcher obtained a random sample of 100 smokers and a random sample of 100 nonsmokers. After interviewing all 200 participants in the study, the researcher compared the rate of depression among the smokers with the rate of depression among nonsmokers. A. Observational study. B. Designed experiment
Answer:
A. Observational study
Explanation:
An observational study measures the characteristics of a population by studying individuals in a sample, but does not attempt to manipulate or influence the variables of interest.
A designed experiment applies a treatment to individuals (referred to as experimental units or subjects) and attempts to isolate the effects of the treatment on a response variable.
Hence, we can see that proposed study is observational.
A market researcher randomly selects 1 00 drivers under 45 years of age and 2 00 drivers over 45 years of age. Identify the type of sampling used in this example. a) convenience systematic b) cluster simple c) random stratified
Answer:
(c). Random Stratified
Explanation:
Sampling refers to selection of a number of observations for analysis as a representative of the entire population of observations wherein the results would be interpreted the same as if the whole population was subject to analysis.
In a stratified random sampling, the observations are divided into small groups known as strata which relate to a sample interval, from which an item is chosen at random.
In stratified sampling, the selection of an item is taken from the observations belonging to a strata belonging to a particular sample interval.
In the given case, stratified random sampling has been used.
Final answer:
The market researcher is using stratified random sampling by dividing drivers into age groups and sampling from each. This method ensures that different categories of the population are represented in the sample.
Explanation:
The type of sampling used by a market researcher who selects 100 drivers under 45 years of age and 200 drivers over 45 years of age is stratified random sampling. This method involves dividing a sampling frame into relevant subgroups based on certain characteristics—in this case, age groups—and then drawing a sample from each of these subgroups. Such an approach allows the researcher to ensure that both age categories are well-represented in the sample, increasing the likelihood that the sample data is reflective of the entire population.
In the listed examples:
The soccer coach is using stratified sampling because he divides his players into age groups and selects a sample from each.The pollster conducting interviews with all human resource personnel in five different high tech companies is using cluster sampling.The high school researcher interviewing an equal number of male and female high school teachers is also employing stratified sampling, with gender being the basis for stratification.The department store manager is using a type of cluster sampling by selecting random departments and interviewing all employees within those departments.
All of the following are functions of the Federal Reserve System except:(A)Auditing member banks(B)Acting as an agent for the U.S. Treasury(C)Fixing the prime rate for commercial banks(D)Lending to commercial banks
Option (C) Fixing the prime rate for commercial banks is NOT a function of the Federal Reserve System; this rate is determined by individual banks themselves.
The question asks which of the following is NOT a function of the Federal Reserve System (Fed): (A) Auditing member banks, (B) Acting as an agent for the U.S. Treasury, (C) Fixing the prime rate for commercial banks, (D) Lending to commercial banks. The Federal Reserve, as the central bank of the United States, conducts monetary policy, regulates and supervises commercial banks, and serves as a banker and fiscal agent for the U.S. government.
However, the prime rate is set by individual banks, not the Fed. The primary functions of the Fed focus on managing the economy and financial institutions. Therefore, the correct answer is (C) Fixing the prime rate for commercial banks, as this is not a function that the Fed performs.
A firm has an operating profit (EBIT) of $600 on sales of $1,000. Interest expense is $250 and taxes are $120. What is the times interest earned ratio?
Answer:
2.4 times
Explanation:
The formula to compute the times interest earned ratio is shown below:
Times interest earned ratio = (Earnings before interest and taxes) ÷ (Interest expense)
= $600 ÷ $250
= 2.4 times
In order to find out the times interest earned ratio, we divide the operating profit or earnings before interest and taxes by the interest expense so that it could come
Some economists say that economic growth involves a trade-off between current generations and future generations. If a current generation raises its saving rate, what does it sacrifice? What will be gained for future generations?
Answer:
Current consumption .
More output & More capital.
Explanation:
Economic growth is the increase in the productive base of a country within a period of time. It can also be seen as the increase in the production of goods and services produced by a country within a period of time, it is simply increase in the gross domestic product (GDP)
Savings is that part of disposable income that is not consumed. That is, that part of income that is not spent on current consumption is what we called savings, the simple equation is:
S = Yd - C
Where: S = Savings, Yd = Disposable income and C = Consumption.
When the current generation raises its savings rate, it sacrifices current consumption which is alternative forgone or opportunity cost of savings.
The gain for future generation is the accumulation of capital that will be available to them to produce more goods and services.
In the majority of Fortune 500 companies, the head of the human resource department, usually a vice president, answers to the chief executive officer (CEO) of the company. In many companies, the head of the human resource department sits on the board of directors, the planning committee, or both. These trends are indicative of how human resource managers are:_____________
Answer:
increasingly involved in their organization's strategic and policy-making activities.
Explanation:
Human resources managers also consult or sit with top executives regarding the organization’s strategic planning. They identify ways to increase the value of the organization’s employees and make sure that they are as efficient as possible. They are able to assess workers productivity and make changes to the organization’s structure to help it meet financial goals. They are able to make policies that affect the workers in an organization.
Mary is managing a data migration project and the project is currently in the executing phase. The project's current total earned value (EV) is $25,000 and the current schedule variance (SV) is $5,000. What is the project's current schedule performance index (SPI)?
Answer:
Schedule performance index (SPI) = 1.25
Explanation:
Earned value (EV)- planned value (PV) = Schedule variance (SV)
25000 - PV = 5000
collecting like terms means taking PV to the right-hand side of the equation & 5000 to the left-hand side of the equation.
25000 - 5000 = PV
PV = 20000
Schedule performance index (SPI) = EV ÷ PV
SPI = 25000 ÷ 20000 = 1.25
Answer:The answer is 1.25
Explanation:
To calculate SPI, we use the formula SPI = EV ÷ PV
EV = $25,000, PV = unknown , SV = $5,000
SV = EV - PV
5,000 = 25,000 - PV
Making PV the subject of formula
PV = 25,000 - 5,000
PV = 20,000
SPI = 25,000 ÷ 20,000
SPI = 1.25
Since it is greater than 1, the project is on track and has a favourable conditions
Bruce has a credit card that uses the average daily balance method. For the first 9 days of one of his billing cycles, his balance was $2030, and for the last 22 days of the billing cycle, his balance was $1450. If his credit card's APR is 23%, which of these expressions could be used to calculate the amount Bruce was charged in interest for the billing cycle?
Answer:
$31.61
Explanation:
In order to determine the amount of interest charged you must first calculate the average daily balance:
average daily balance = [($2,030 x 9) + ($1,450 x 22)] / 31 = $1,618.39
Now we must calculate the daily interest rate:
daily interest rate = 23% / 365 = 0.063%
Finally we multiply the average daily balance times the daily interest rate times the number of days in the billing period:
interest charged = $1,618.39 x 0.063% x 31 days = $31.61
Answer:
The answer is (0.23/365x31)(9x$2030+22x$1450/31)
Explanation:
The idea that a company should attempt to satisfy its customers needs while at the same time try to achieve its own objectives is known as:_______.
Answer:
Marketing concept
Explanation:
Marketing concept is the concept or the strategy which the firms or business follow or implement or execute in order to satisfy or fulfil the needs of the customers or consumers, so that firm could increase their sales, maximize the profit and also beat the competition.
Therefore, the idea that the company need to attempt for satisfying the needs of the customers and at the same try to accomplish its own objectives as well, is called as the marketing concept.
When preparing journal entries, the account titles are selected using either the dropdown menu (if available) or by keying in the account titles.
A. True
B. False
Answer:
False
Explanation:
The preparation of journal entries is very important in transaction recording process, it is utilized in recording transactions either to the general ledger or via subsidiary ledger into the accounting system.
When preparing journal entries two fields are very important, the account title also called account name and the account number or account code. To prevent accounting or recording error, the account codes are selected using the drop-down menu which displays the account title or account name. This enables the account clerk to verify before posting.
True / False.Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.
Answer:
True
Explanation:
Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.
White Company has the following information at the end of the current year: Beginning Direct Materials Inventory $12,000 Ending Direct Materials Inventory 10,000 Purchases of Direct Materials 15,000 Beginning Work-in-Process 5,000 Ending Work-in-Process Inventory 3,000 What is the cost of direct materials used?
Answer:
$17,000
Explanation:
Step 1: Determine the formula for the direct material used
= Beginning Direct Material Inventory + Purchases of Direct Materials - Ending Direct Material Inventory
The Work in progress values should only find expression Manufacturing Account Statement preparation of production cost.
Step 2: Fit the figures into the formula
Beginning Direct Material = $12,000
Purchases of Direct Materials = $15,000
Closing/ Ending Direct Material = $10,000
Cost of Direct Material Used = $12,000 + $15,000- $10,000= $17,000.
Note: Direct material are those raw materials in production or manufacturing that are directly used, related or traceable to the goods or products manufactured.
A company typically engages in three sets of activities. These include the day-to-day activities which are classified as ________ activities and the raising of capital needed to run the company which is considered a(n).
Answer:
Operating activities
Explanation:
A company typically engages in three sets of activities. These include the day-to-day activities which are classified as operating activities and the raising of capital needed to run the company.
Operating activities are the daily activities of a business entity which involves functions such as sales and production of product(s), revenue generation, etc.
Another way to look at operating activities are in the light of routine activities of the organisation. Cashflows generated therefrom are referred to as operating cashlows in the cashflow statement whereas profit generated from these day-to-day activities are referred to as operating profit.
A planning approach in which an organization updates its sales and operations plan regularly, such as on a monthly or quarterly basis is the definition of a
Answer:
Flexible Plan
Explanation:
A planning approach in which an organization updates its sales and operations plan regularly, such as on a monthly or quarterly basis is the definition of a flexible plan.
A flexible plan as opposed to a rigid plan is a plan that can be updated within the year as reality unfolds and by so doing the plan becomes more achievable. Variances from such flexible plans are more explainable and are better basis for judging the performance of managers than rigid budget variances which has not been updated with realities in the business environment.
Answer:
Rolling Planning Horizon
Explanation:
Based on the information provided within the question it can be said that the term that is being defined in this scenario is called a Rolling Planning Horizon. This planning approach is used in a variety of situations by solving an overall larger problem by using several submodels which when put together solves the larger problem. In this scenario by updating its sales and operations plan on a monthly or quarterly basis (submodels) it makes it easier to have the overal organization's sales and operations always updated
A married couple is trying to conceive a child. The man works outside during the hot summer months and is also taking medications that cause involuntary muscle contractions. What affect will this have on his sperm production?
Answer:
Hi
The effect on sperm production will depend on the type of medication the person is taking, for example, in the case of antipsychotic medications, in addition to causing involuntary tremors, they block dopamine, a chemical of brain origin that helps with regular responses emotional and controls the brain centers responsible for gratification and pleasure. Similarly, the levels of the hormone prolactin increase, which can cause erectile dysfunction, decreased libido and difficulties reaching orgasm, as well as blocking the action of acetylcholine, which can cause problems in all areas of the body sexual function.
Another type of medications that cause involuntary tremors and that can affect sperm production are statins and fibrates, these medications are likely to interfere with the production of testosterone, estrogens and other sex hormones by affecting the availability of cholesterol, an essential component for certain hormones
Explanation:
Calcunick, a travel agency, organizes its labor force into departments based on the category of clients the respective department serves. These departments include individual travel, couple travel, family travel, and group travel. In this scenario, Calcunick most likely follows _____.
Answer:
Customer departmentalization
Explanation:
Customer departmentalization is where the organization's activities are ready to respond to and interact with specific customers or customer groups.
In this case, agency organized its labor into different departments based on the customer needs
Which of the following is not a step in the strategic planning process? Group of answer choices Defining the company mission. Planning marketing and other functional strategies. Setting company objectives and goals. The process by which management evaluates the products and businesses making the company. Designing the business portfolio.
Answer:
E) evaluating all members of the value chain
Explanation:
A value chain is used to describe all the business activities it takes to create a product from start to finish (design, production, distribution).
And a value chain analysis gives businesses a visual model of these activities.
The process referred to in the student's question, where management evaluates the products and businesses of the company, is not a step in the strategic planning process. It is more akin to a business review or portfolio analysis.
Explanation:The strategic planning process involves setting a company's objectives and goals, defining the company's mission, planning marketing, and other functional strategies. However, the option 'The process by which management evaluates the products and businesses making the company' doesn't seem to fit perfectly into the steps of a strategic planning process. This phrase sounds more like the process of portfolio analysis or a business review, which can be a part of strategic management but is technically not a defined step in the formulation of a strategic plan.
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Apple is an established firm that encourages and emphasizes entrepreneurial behavior throughout its various divisions. Apple practices ________ entrepreneurship.
Answer:
Corporate entrepreneurship
Explanation:
Corporate entrepreneurship -
It is the method , adapted to establish some fresh business services , products and processes in an already existing organization is referred to as a corporate entrepreneurship .
This method is adapted in order to generate revenue and incorporate new goods and services .
This method increases the innovation and growth of the existing organisation.
Hence , from the given scenario of the question,
The correct term is Corporate entrepreneurship .
Apple practices corporate entrepreneurship by fostering entrepreneurial behavior within the company and encouraging employees to think creatively and pursue innovative ideas.
Explanation:Apple practices corporate entrepreneurship.
Corporate entrepreneurship refers to the practice of fostering entrepreneurial behavior within an established firm. It involves encouraging employees to think creatively, take risks, and pursue innovative ideas to drive business growth and success. Apple is known for its emphasis on innovation and its ability to continually develop new products and services, which are key characteristics of corporate entrepreneurship.