Socialist school of economics warns that human economic systems could exceed the capacity of the environment to handle the pollutants and wastes we produce.
What are the features of socialist economics?In socialist , all means of production are owned by the community, i.e., Government, and individual can not hold private property beyond certain limit. Therefore, it is government who utilises these resources for the interest of social welfare.
What is the main aim of socialist economy?Socialists actually aim to gain greater equality in decision-making and economic affairs, grant workers more control of the means of production and their workplace and to remove exploitation by directing the surplus value to employees.
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a company has beginning inventory for the year of $10,500. during the year, the company purchases inventory for $190,000 and ends the year with $27,000 of inventory. the company will report cost of goods sold equal to:
The business will disclose the cost of goods sold of $1,73,500.
What is inventory?Inventory refers to all the products, services, and supplies that a business keeps on hand with the intention of reselling them for a profit. Raw materials, work-in-progress (WIP), finished goods, maintenance, repair, and overhaul (MRO), and are the four forms of inventory that are most frequently employed (MRO). Understanding the various sorts of inventory you have will help you manage and handle it more efficiently.
Beginning inventory = $10,500
Purchase inventory = $190,000
Ending inventory = $27,000
So, the cost of products sold is given by Beginning inventory + Purchase inventory - Ending Inventory
By putting the value, we get,
$10,500 + $190,000 - $27,000
= $173,500
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if a check correctly written and paid by the bank for $442 is incorrectly recorded in the company's books for $380, how should this error be treated on the bank reconciliation?
If a check correctly written and paid by the bank for $442 is incorrectly recorded in the company's books for $380, this error should be treated on the bank reconciliation as Subtract $64 from the book balance.
An entity's bank account and its financial records are compared in a bank reconciliation statement, which is a summary of banking and business activity. In the statement, the deposits, withdrawals, and other transactions affecting a particular time period are listed. A financial internal control instrument that can be used to prevent fraud is a bank reconciliation statement.
Statements of bank reconciliation confirm the processing of payments and the deposit of cash receipts into the bank. In order to make the necessary adjustments or corrections, the reconciliation statement aids in locating discrepancies between the bank balance and the book balance. Reconciliation statements are normally processed once a month by an accountant.
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when there is a breach of a contract and damages, the difference between the value of the contract as it had been promised and the value of the performance which was actually given is a measurement of:
The difference between the value of the contract as it had been promised and the value of the performance which was actually given is a measurement of: loss of value
What is the meaning of breach of contract?
A breach of contract happens when one party in a binding agreement fails to deliver according to the terms and condition of the agreement. A breach of contract may happen in either a written or an oral contract. The parties entered in a breach of contract may resolve the issue among themselves, or in a court of law.
What is consequences and remedies of breach of contract?There are many types of damages to discuss under the breach of contract. Remedies for breach of contract consist of suit for damages, suit for specific performance, eliminate the contract, stop the other party from doing something.
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George has $625 in monthly debt obligations, and his anticipated mortgage payment is $1,828. His gross income is $9,869, and his net income is $7,895. What’s his housing ratio?
18.52% is the housing ratio.
A ratio can be described as the relationship or assessment among numbers of the equal unit to check how large is one range than the opportunity one. for instance, if the huge variety of marks scored in a test is 7 out of 10, then the ratio of marks received to the whole amount of marks is written as 7:10.
Ratios allow us to degree and precise quantities by way of creating them less difficult to understand. Examples of ratios in life: the auto has become touring 60 miles regular with an hour or 60 miles in 1 hour. you've got were given a 1 in 28,000,000 threat of winning the lottery.
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a company had beginning inventory of 12 units at a cost of $24 each on march 1. on march 2, it purchased 12 units at $42 each. on march 6 it purchased 7 units at $29 each. on march 8, it sold 28 units for $72 each. using the fifo perpetual inventory method, what was the cost of the 28 units sold?
The calculation of cost by using Perpetual FIFO inventory method is $908.
Perpetual FIFO inventory method can be defined as a cost flow tracking system under which the first unit of inventory acquired is presumed to be the first unit consumed or sold. Perpetual FIFO inventory method can be determine by using the cost of your oldest inventory and multiply that cost by the amount of inventory sold. In the other side, to calculate LIFO (Last-in, First-Out) determine the cost of your most recent inventory and multiply it by the amount of inventory sold.
The calculation of cost by using Perpetual FIFO inventory method is:
The cost = (12.$24) + (12.$42) + (4*$29) = $908
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jj industries will pay a regular dividend of $1.60 per share for each of the next four years. at the end of the four years, the company will also pay out a liquidating dividend of $50 per share, and the company will cease operations. if the discount rate is 11 percent, what is the current value of the company’s stock? (do not round intermediate calculations. round your answer to 2 decimal places.)
From the given information, If the discount rate is 11 percent, then the current value of the company’s stock is $ 37.90.
According to the theory of current value accounting, assets and obligations should be valued at the price at which they may be sold or settled as of the current value. This is different from the conventional practise of documenting assets and liabilities solely at the quantities at which they were initially acquired or incurred (which represents a more conservative viewpoint). The International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) have both been evolving in the direction of requiring greater current value accounting, so that fewer assets and liabilities are still reported on the balance sheet at their original costs.
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Saving money for a purchase and letting the interest work for you rather than against you.
Saving money for a purchase and letting the interest work for you rather than against you sinking fund.
What is interest?
In the fields of finance and economics, interest is the payment of a sum over and above the principal amount to a lender or depositor by a borrower as well as deposit-taking financial institution at a set rate. It is not the same as a fee that the borrower might pay to the lender or another party. It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit as well as reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a share of the reward received by risk-taking businesspeople when revenue is earned that exceeds all costs.
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what are the three commonly used strategies or approaches for implementing changes in an organization? give an advantage and/or disadvantage for each type of approach, and discuss their impacts on the organization.
The three commonly used strategies or approaches for implementing changes in an organization are force change strategy, educative change strategy, and a rational or self-interest change strategy.
Giving commands and carrying them out are both parts of a force transformation approach. It is quick, yet it suffers from poor commitment and strong resistance. 3. A self-interest or rational change approach tries to persuade people that the change will be to their own benefit.In order for people to completely accept the changes being made and advance toward the formation of a common set of organizational values that people are willing and able to embrace, educational change approach entails altering people's values and beliefs, or "winning hearts and minds."An attempt to persuade people that the change is in their best interests is known as a rational or self-interest change approach. Employees who participate in wellness programs receive counseling and are encouraged to make healthy lifestyle choices.Learn more about Educational change approach, here
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if a company has adopted the make-to-stock strategy, what is the trigger for the production of goods? need to increase inventory customer order request for quotation customer inquiry billing document
If a company has adopted the make-to-stock strategy, Need to increase inventory is the trigger for the production of goods.
A better strategy, experts say, is to make new investments at regular intervals, a process known as bone - cost averaging. Successful investing is lower about timing the request than giving a broad portfolio of investments the time it needs to grow.
Inventory stock :stock is the force of finished goods available for trade, and force includes both finished goods and factors that produce a finished product. In other words, all stock is force, but not all force is stock. Inventory refers to all the particulars, goods, wares, and materials held by a business for dealing in the request to earn a profit. Example If a review seller uses a vehicle to deliver journals to the guests, only the review will be considered inventory. The vehicle will be treated as an asset.
What's the significance of inventory?Anyhow of the size of your company, having a proper inventory operation system is veritably important for any business. It can help you keep track of all your inventories and determine the exact prices. It can also help you manage unforeseen changes in demand without immolating client experience or product quality.
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a new specialty spice shop opened up in town. in order to lure customers into the store, the owners sent a packet of its most popular spice mix to 3,000 potential customers. this is an example of
A new specialty spice shop opened up in town. In order to lure customers into the store, the owners sent a packet of its most popular spice mix to 3,000 potential customers. This is an example of Product sampling.
When customers may test out tiny samples of your product without having to pay for it, this is known as product sampling. For a retail shop, product sampling can provide a number of advantages. Marketers may gather influencer endorsements, provide statistics to support a product, and demonstrate other customers utilizing the product. However, there are situations when customers won't buy from you until they sample it first. They can do that for no cost thanks to product samples.
Cutting through this noise and influencing a customers to make a good purchase choice is offering a product sample. They may use it themselves, gaining firsthand knowledge that makes it easier to assess and comprehend a solution.
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normally, an athletic clothing company uses an imported fabric blend in its clothing line. however, a price increase from its existing supplier is forcing the company to look elsewhere and find a different company to source these fabric blends. in the b2b buying process, this is an example of
In the B2B buying technique, this action of FlexFit Athletic organization to supply its material blends from an exceptional agency due to the charge increase from their existing dealer is an instance of want recognition.
Want recognition is the perception of an opening between cutting-edge instances and preferred conditions.
Need reputation is always precipitated by means of either inner or outside stimuli.
For example, the charge growth through the existing provider is an external stimulus that caused FlexFit to recognize its want to have a couple of dealers of its fabric blends.
Thus, this motion of FlexFit Athletic organization to source its material blends from a unique organization due to the price increase from their current provider is an instance of want recognition.
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company z has a cross purchase buy-sell agreement in place among its three founding partners. if the agreement is funded with individual life insurance, what would it require?
Since, Company Z has a cross purchase buy-sell agreement, and it is funded with individual life insurance then Each partner must own a policy on the other partners.
Using a cross-purchase agreement, a company's stakeholders or other owners can procure the preferences or securities of a partner who eventually died, has become disabled, or resigned. In order to ease that transfer of value, the method frequently varies depending on a policy of life insurance in the occasion of a death.
A cross-purchase agreement is generally used during business continuity plans to clarify how share capital can be dispersed or obtained by the remaining survivor's partners, such as a fractional distribution based on each partner's shareholding portion of the company.
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which of the following is a primary authority on which to base research conclusions? multiple choice textbook used in this class a treatise written by a tax attorney and published in a legal journal an editorial explanation in a commercial tax service a treasury regulation
A Treasury regulation is primary authority on which to base research conclusions.
The Internal Revenue Service (IRS), a branch of the Treasury Department of the United States, issues the tax regulations known as the Treasury Regulations. These regulations serve as the Treasury Department's official interpretation of the Internal Revenue Code and are one source of U.S. federal income tax law.
Under this authority, the Secretary of the Treasury may publish final regulations. As it works to enact final regulations, the Treasury publishes draught or interim regulations. The proposed regulations go into effect when testimony and objections are gathered ("notice and comment") and a final standard is published.
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question mode multiple choice question a company is currently selling 10,000 units of product for $40 per unit. the unit contribution margin is $27. the company believes that spending $50,000 on advertising will increase sales by 750 units per month and enable them to increase the selling price to $45 per unit. if this change is implemented, profits will blank . multiple choice question. increase by $3,750 decrease by $29,750 increase by $74,000 increase by $24,000
9,500 units will have to be sold to earn $100,000 per year.
Step by step:
($174,000 + $30,000 + $100,000)/($27 + $5 increase in sales price) = 9,500
The answer is 9500 units.
The contribution margin is calculated as sales - Variable costs. The contribution margin ratio is calculated as (revenue - Variable charges) / sales.
The contribution margin ratio is the difference between a company's sales and variable fees, expressed as a percentage.
The full margin generated through an entity represents the total income to be had to pay for constant costs and generate an income.
When a company sells one unit above the wide variety required to break even, the company's net running profits will: exchange from 0 to net operating earnings.
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given that starbucks sells 1.33 percent of its total u.s. coffee bean sales in denver and the population there is 1.57 percent of the total u.s. population, calculate the bdi for starbucks coffee beans sales in denver.
The brand development Index (BDI) of Starbucks coffee beans sales in Denver, will be 84.71% given that sales and market population.
Given,
Market brand sale = 1.33%
Market population = 1.57%
BDI = Market brand sales/ market population *100
= 1.33 /1.57*100
= 84.71%
A brand development index (BDI) is a ratio that measures a brand's performance in a particular consumer group. It signifies the connection between a firm's total sales and the demography of a specific market, aiding brands in enhancing their marketing and promotional methodologies.
The index assists marketers in recognizing positive and negative sections for particular brand (usually segment of the population or demographical).
The BDI is especially beneficial when used with the categorization development indicators (CDI). It has the potential to ascertain the media allocations to which a specific brand is publicized. It can also be employed to ascertain how much advertising or publicity must be put into a given market.
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What determines whether your debt is positive or negative?
a flip of a coin
a determination by your banker
the age of the debt
the amount of your gross income dedicated to paying it down
managers will frequently look for new information that contradicts their instincts or original point of view just to balance things out. a. true b. false
This is false that managers will frequently look for new information that contradicts their instincts or original point of view just to balance things out.
A manager is a professional who leads an organization and is in charge of a group of workers. Managing a certain department within a corporation is a common responsibility for managers. There are many different kinds of managers, but they typically have responsibilities including making decisions and conducting performance reviews.
Managers exhibit increasing commitment when they conceal or falsify negative information in order to avoid taking responsibility for a poor choice. Electronic brainstorming frequently results in greater diversity in solutions because it can bring together participants from around the world.
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for several years in a row, the east coast cities of the nation suffered extremely cold winters. demand for home heating oil was very inelastic. how did the elasticity of supply impact the changes in price that resulted from the increased demand?
Supply is inelastic, therefore, the price increased more than it otherwise would have.
Elasticity of supply is a term in the world of economics to define the effect on the level of sensitivity to changes in the number of goods offered related to changes in the price of these goods. The elasticity of supply is then seen from the so-called coefficient of elasticity of supply, which is the number or percentage comparison between changes in the price of goods and changes in the number of goods offered.
The occurrence of this elasticity of supply is highly dependent on a number of factors, namely:
Availability of goods (source availability).The number of producers who produce these goods (producer amount).Technological innovation (innovation of technology).You can learn more about Elasticity of supply here brainly.com/question/28192591
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the table shows the cost and revenue information for a perfectly (or purely) competitive firm that produces external hard drives. use whole numbers to answer the six questions. quantity (units) fixed cost ($) variable cost ($) total revenue ($) 10 100 36 1,000 11 100 74 1,100 12 100 145 1,200 13 100 202 1,300 14 100 300 1,400 15 100 435 1,500 16 100 588 1,600 17 100 774 1,700 what is the marginal revenue received from the 11th unit? $ what is the marginal cost of producing the 11th unit? $ what price does this firm charge for each hard drive? $ per unit how many units should this firm produce to maximize profits? units when profit maximizing, what is this firm's profit?
a) The marginal revenue received from the 11th unit is $100.
b) The marginal cost of producing the 11th unit is $38 ($74 - $36).
c) The price the firm charges for each hard derive is $100 per unit.
d) The number of units this firm should produce to maximize profits is 14.
e) The firm's profits at the profit-maximizing level are $1,000.
What are the marginal revenue and marginal cost?The marginal revenue is the additional revenue generated by the firm in producing the 11th, 12th, or 13th units, etc.
The marginal cost is the additional cost the firm incurs when it produces an additional unit.
Quantity (units) Fixed cost ($) Variable cost ($) Total revenue ($) Profit
10 100 36 1,000 $864
11 100 74 1,100 $926
12 100 145 1,200 $955
13 100 202 1,300 $998
14 100 300 1,400 $1,000
15 100 435 1,500 $965
16 100 588 1,600 $912
17 100 774 1,700 $826
a) The marginal revenue from the 11th unit = $100 ($1,100 - $1,000).
b) Marginal cost for the 11th unit = $38 ($74 - $36).
c) Price per hard derive = $100 ($1,700/17).
In situations (d) and (e), the profit-maximizing units (14) ensure the highest profit as indicated in the table. After this level, as the firm increases production, its profits continue to decline.
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