Reporting revenues when the goods or services are provided and expenses when they are incurred is called accrual accounting.
What is accrual accounting?
Accrual accounting is a method used to record revenues or expenses where revenue is recorded when a service is provided and an expense is recorded when incurred.
The purpose of accrual accounting is to match income and expenses with the period in which they occur. The accrual accounting method is the method approved by the IFRS and the US GAAP.
In contrast to accrual accounting, there is another accounting method known as cash accounting. In cash accounting, revenue is recorded only when cash is received and expenses are recorded only when cash is paid.
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Demand is said to be ___________ when the quantity demanded is very responsive to changes in price. group of answer choices
Demand is said to be Elastic when the quantity demanded is very responsive to changes in price.
What is Elasticity of Demand?Demand responsiveness to changes in other market variables is measured by demand elasticity. The price elasticity of demand, for instance, indicates how much demand will change in response to a change in a product's price.
Both elastic and inelastic demand exists. Demand that is elastic is more responsive to changes in the variables being measured against. Products that are inelastic are less sensitive to the changes being measured.
The slope of the demand curve and price elasticity of demand is directly correlated. The law of demand, which states that consumers will demand a greater quantity of goods at lower prices and a lesser quantity of goods at higher prices, was most likely covered in your very first economics course. The downward sloping of demand curves is explained by the law of demand.
Thus the Law of demand directs the elasticity of demand.
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Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is:_____.
Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is Credit Revenue. The ordinary equilibrium for your value is known as a credit balance, and in that capacity, revenues must be recorded as a credit and not a charge.
What does Credit Revenue means?In Accounting, revenues are credits since revenues make proprietor's value or investors' value increment.
Revenue Credit implies the revenue from the Arrangement's Speculation Assets if any, that are held in the Revenue Credit Record inside the Arrangement and that stay after the installment of Plan costs.
At your bookkeeping year's end, all revenue account credit adjusts must be shut and afterward moved to your capital record, accordingly expanding your value.
Therefore Credit Revenue is correct.
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When an individual transfers property to another taxpayer during their life, without receiving or expecting to receive value in return, the property transferred is a(n):_________
When an individual transfers property to another taxpayer during their life, without receiving or expecting to receive value in return, the property transferred is a GIFT.
What is a gift for tax purposes?For the purposes of taxation of property, a gift refers to a property that a taxpayer gives to another taxpayer while both are still alive.
Another requirement for the property to be a gift is that the person who gave it, should expect nothing in return. Gifts are not as taxed as other transactions.
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_______ help managers with the skills required to accomplish a specific kind of work.
Technical skills help managers with the skills required to accomplish a specific kind of work.
Who is a manager?A manager can be defined as an individual who has been trained to acquire and distribute resources, as well as provide guidance, support, administrative control, and supervision to the employees who are working in a business organization (company), especially by being morally upright, skillful, well behaved and promoting the business's vison, culture, and values at all times.
What are technical skills?Technical skills can be defined as a series of specialized knowledge, professionalism, and expertise that are required to perform or accomplish a specific kind of task and work, including the use specific tools and software applications in real world situations.
In this context, we can reasonably infer and logically deduce that technical skills help managers with the skills required to accomplish a specific kind of work.
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When choosing which bidder wins the award of a new competitive bid municipal issue, the deciding factor is the:_______
a. coupon rate
b. net interest cost
c. premium
d. reoffering scale
The correct answer is net interest cost.
Competitive bidding is a formal method for determining what the applicants need and formally requesting it so that possible service providers may assess it and make bids for it.
What is underwriting a competitive bid?Bidding wars or a sale reached through negotiations. In a competitive underwriting, a new bond issuance is sold at public auction to the underwriter or syndicate of underwriters who make the best offer based on predefined criteria, often the lowest net interest cost (NIC).
What kinds of competitive bids exist?The Request for Quotation (RFQ), Request for Proposal (RFP), and Request for Qualifications (RQFL) are the three formal competitive bidding procedures that have been shown to be the most successful.
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If an entrepreneur gives up her job to start a new business, the forgone earnings are:______.
If an entrepreneur gives up her job to start a new business, the forgone earnings are implicit costs.
What is implicit cost?
Implicit costs are a special kind of opportunity cost: they represent the cost of the company's existing resources that could have been used in another way. An entrepreneur who runs a firm, for instance, could use her labor to pay the bills at a job.
Therefore,
If an entrepreneur gives up her job to start a new business, the forgone earnings are implicit costs.
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The adjusted trial balance provides account balances reported in which financial statements?
The adjusted trial balance provides account balances reported in which financial statements:
Statement of stockholders' equity
Balance sheet
Income statement
What is Income statement?
One of the most often and important financial statements you're likely to see is an income statement. Income statements, sometimes referred to as profit and loss (P&L) statements, include the cumulative effect of revenue, gain, expense, and loss transactions and include a summary of all income and expenses for a specific period.
Therefore,
Statement of stockholders' equity
Balance sheet
Income statement
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Porter's competitive forces model identifies ________ major forces that can endanger or enhance a company's position in a given industry.
The correct answer is 5.
Managers and analysts may better understand the competitive environment a company operates in and how it is positioned within it by using Porter's Five Forces Model.
What are the five competitive forces identified by Porter?Porter identifies five factors as the main sources of competitive pressure within an industry. They are as follows:
a) rivalry in a healthy way.
b) supplier strength.
c) consumer power
d) threat of replacement
e) a potential new entry.
What is the operation of Porter's competitive force model?These factors affect a company's profitability by affecting the quantity and strength of its rivals in the market, possible new market entrants, suppliers, consumers, and replacement goods. Business strategy may be guided by a Five Forces analysis to boost competitive advantage.
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Which broad field of economics would most likely study how consumers respond to a hike in cigarette taxes? multiple choice microeconomics marginal economics macroeconomics monetary economics
Answer to the question is microeconomics.
Microeconomics is a branch of mainstream economics that studies the behavior of persons and corporations in making selections related to the allocation of scarce sources and the interactions amongst these people and firms.
What is the difference between macroeconomics vs microeconomics?Microeconomics has applications in trade, industrial organisation and market structure, labor economics, public finance, and welfare economics. Macroeconomics is the find out about of the selections of countries and governments. The term analyzes whole industries and economics instead than folks or specific companies.
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https://brainly.com/question/8648375#SPJ4Contribution margin equals ________. multiple choice sales minus fixed cost fixed cost minus variable cost sales minus variable cost minus fixed cost sales minus variable cost
Contribution margin equals sales minus variable cost
What is contribution margin?
Contribution margin means the extent by which the sales price exceeds the variable cost, in other words, it sales price per unit minus the variable cost per unit or total sales revenue minus the total variable costs on total volume basis.
Contribution margin means the level of contribution that each sold contributes towards the recovery of the company's total fixed costs, in short, the correct option in this case, is that contribution margin is the sales minus the variable cost.
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The formula to calculate the amount of manufacturing overhead to allocate to jobs is:______
Predetermined overhead rate multiplied by the actual amount of the allocation base used by the particular work is the formula used to determine how much manufacturing overhead should be allocated to jobs.
You must total up all indirect costs associated to the manufacturing of a product in order to determine manufacturing overhead. This covers the price of depreciation, factory supplies, electricity, insurance, maintenance to machines, indirect materials and labor, and more. Manufacturing support costs or factory overheads are other names for manufacturing overhead. Manufacturing overhead costs do not include overhead charges like general administrative costs and marketing expenses.
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Understanding how income is distributed within and across populations informs firms of different groups':_____.
a. social class.
b. disposable income.
c. purchasing power.
Understanding how income is distributed within and across populations informs firms of different groups purchasing power.
This is further explained below.
What is purchasing power.?Generally, The buying power of a certain currency is defined as the number of goods and services that can be acquired by spending a specific amount of that money.
For illustration purposes, in the 1950s, if one went to a store with one unit of cash, they would have been able to buy whatever was on the shelf.
Income: money that is earned, often on a regular basis, as a direct or indirect consequence of one's job or investing activities.
In conclusion, Firms need to have an understanding of the distribution of income both within populations and between populations in order to determine the buying power of various groups.
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Custodial accounts can be opened as? a a cash account only b margin account only c either a cash or margin account d either a joint cash or margin account
Custodial accounts can be opened as a cash account only.
Custodial accounts are savings account which are set up and administered by an adult for a minor. So the custodial accounts tend to have enormous flexibility with no income, withdrawal penalties or contribution limits.
A custodial account is a financial account which parents manage in their child's name. A custodial account is then irrevocably passed to the child when they become the adults. Custodial accounts have to be opened as a cash account only.
Thus, the custodian of the account controls that how money in the account is spent and invested.
Hence, option A is correct.
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What are the benefits of budgets in rapidly growing companies such as axonify? does axonify use its budget primarily for planning or for control purposes?
It will assist with duty and accountability. Investment making plans and manipulate your money. 1. offers a better photograph on the economic fame for the upcoming duration · 2. allows decide How a whole lot price range need every day be allocated.
A budget helps create monetary balance. By monitoring prices and following a plan, a budget makes it less difficult everyday pay bills on time, build an emergency fund, and shop for most important charges along with a car or domestic. Average, a finances places someone on stronger economic footing for each the and the long term. It allows you to oversee and higher understand whether your business has enough sales (incoming cash) everyday pay its fees. It permits you to supervise and higher understand whether your enterprise has sufficient sales (incoming money) daily pay its prices. using a finances daily make extra informed financial selections. In brief, budgeting is important because it facilitates you manage your spending, track your prices, and store more money. additionally, budgeting daily make better monetary decisions, daily for emergencies, get out of debt, and stay focused in your long-term financial goals.
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Assume an initial equilibrium at d1 and s1 with a price of $1.20 million per machine. if the government places a $100,000 excise tax on each new scanner sold, the new equilibrium price will be:_____.
The price of the new equilibrium will be less than $1.30 million.
What Exactly Is Equilibrium?
Prices stabilize when market supply and demand are equal. Equilibrium refers to this. In general, a surplus or excess lowers prices, which increases demand, whereas a shortfall or undersupply raises prices, which decreases demand.
When supply and demand balance one another, a state of equilibrium is created.
A market is considered to have attained equilibrium when the supply and demand for a good or service are equal.
Consistent agent conduct, a lack of motivation for agents to change their behavior, and the dynamic nature of equilibrium outcomes are three features of an equilibrium market.
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To reduce traffic, market town enacts an ordinance that allows only a few specific street vendors to operate in certain areas. a court would likely review this ordinance under the principles of:____________
To reduce traffic, market town enacts an ordinance that permits only a few specific street vendors to function in certain areas. a court would likely review this ordinance under the principles equal protection.
What is principle equal protection?The concept of equal protection states that no one should be denied the same level of protection from a government's laws. A person must be treated equally by the state's governing authority to others who are in comparable situations. Advocates have used the Equal Protection Clause, which mandates that states treat their residents equally, to challenge discriminatory laws, policies, and governmental acts.
Equal protection compels a state to govern impartially rather than making distinctions between people based purely on characteristics that are unrelated to a justifiable governmental goal. Therefore, the equal protection provision is essential for upholding civil rights. The goal of equal protection was to compel states to govern impartially and refrain from making disparities between people based on features that are immaterial to achieving governmental goals. In order to guarantee civil rights, the equal protection provision was essential.
Hence, To reduce traffic, market town enacts an ordinance that permits only a few specific street vendors to function in certain areas. a court would likely review this ordinance under the principles equal protection.
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from the consumer's perspective, which of the following is a postpurchase question? question content area bottom part 1 a. what are the best sources of information to learn more about alternative choices? b. how is the product eventually disposed of? c. what does this purchase say about the consumer? d. what determines whether a consumer will be satisfied with a product? e. is acquiring a product a stressful or pleasant experience?
From the consumer's perspective, an example of a postpurchase question is: b. how is the product eventually disposed of?
What is consumer behavior?Consumer behavior can be defined as the study of the processes that are involved when individuals or groups of people engage in the selection, purchase, use, or disposal of products (goods), ideas, services, or experiences to satisfy their unending needs, requirements and desires.
From the consumer's perspective, we can reasonably infer and logically deduce that an example of a postpurchase question is "how is the product eventually disposed of?" because at this point the product has reached the end of its life cycle.
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How to prepare a check to replenish the fund for the expenditrues made since may 1?
Answer:
No , silly American..
Explanation: Cuz I'm from Russia
When courts find accountants liable for constructive fraud, the implication is that:______.
Even if they were unaware of the fraud, accountants may be held accountable for it.
How does constructive fraud work?A legal fable known as "constructive fraud" describes a circumstance in which a person or organization obtained an unfair advantage over another using dishonest or unjust means. As opposed to true fraud, no proof of intent is required. The failure to inform clients of product flaws is one example of unfair practices.
The elements are:
1) a duty owed by the party to be charged to the complaining party due to their relationship;
2) violation of that duty by making deceptive material misrepresentations of past or current facts or remaining silent when a duty to speak exists; and
3) reliance on such statements by the complaining party.
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Suppose you find a production possibilities frontier (ppf) that is shaped like a straight line. what can you determine about the production of the two goods?
Anywhere along the PPF, the production of the two items is subject to continual opportunity cost.
What does Production Potentials Frontier mean?
The production possibility frontier (PPF) is a curve on a graph that depicts the potential output of two goods whose production is dependent on the same limited resource. Another name for the PPF is the production possibility curve. PPF also has a significant role in economics. For instance, it can indicate that a nation's economy has reached its peak efficiency.
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When evaluating eyewitness testimony, the investigator must discriminate between fact and?
When evaluating eyewitness testimony, the investigator must discriminate between fact and opinions.
What is testimony?
In the law, testimony is a sort of evidence that is gathered from a witness who makes a serious statement or declaration of fact. Written or spoken testimony is typically given under oath or affirmation under penalty of perjury. Written testimony is typically seen by one or more people who swear or acknowledge its authenticity, also under penalty of perjury, in order to be acceptable in court and for maximum trustworthiness and validity.
Evaluation of the any testimony follows the evidence given. The examiner attempts to piece together the events (facts) of the crime into a logical pattern following the witness examination. They then decide whether or not this pattern of events is supported by the evidence and the witness testimony.
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The substitution effect of a change in the price of bananas refers to the way in which a change in the:______.
The substitution effect of a change in the price of bananas refers to the way in which a change in the price of a substitute affects the demand for bananas.
What is change in the price?
The difference between an asset's original and final values is known as the price change. It might be detrimental or beneficial. Investor choices are influenced by price movements. Investor confidence will be high for a financial instrument that exhibits a steady price increase over time.
Therefore,
The substitution effect of a change in the price of bananas refers to the way in which a change in the price of a substitute affects the demand for bananas.
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The principle that trade can make everyone better off applies to interactions and trade between.
The principle "that trade can make everyone better off" applies to interactions and trade between families, states within the United States, and nations.
What is trade?A trade is defined as an exchange of goods or services between two parties. The mechanism that enables trade is a market. When a nation exchanges its surplus for a resource that another nation can give, it is trading. This is when a nation takes advantage of its wealth of resources.The tea trade, wherein tea is imported from China and bought in the US, is an illustration of trade. The elimination of world poverty depends on trade. International trade-friendly nations tend to develop more quickly, innovate, boost productivity, and give their citizens greater opportunities and higher incomes. By making goods and services more accessible to customers, open trade also benefits people with lower incomes.Learn more about trade here:
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A relatively small group of managers at the head of an organization that establishes overall strategy and long-range goals is called _____ management.
A relatively small group of managers at the head of an organization that establishes overall strategy and long-range goals is called top management.
This is further explained below.
What is top management.?Generally, compare upper management to middle management for a better understanding of the difference between the two. the most senior personnel of an organization or firm, such as the heads of several departments or divisions led by the chief executive.
In conclusion, Top management is the relatively small group of managers that sit at the very top of an organization and are responsible for determining the firm's overarching strategy as well as its long-term objectives.
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True or false: it is generally the case that indifference curves have the same shape across all consumers.
The statement " it is generally the case that indifference curves have the same shape across all consumers." is False
This is further explained below.
What is the shape?Generally, In a contrast to other attributes such as color, texture, or kind of material, a shape or figure is a graphical depiction of an object's exterior border, outline, or external surface.
Shapes and figures may also be used interchangeably. In contrast to solid 3D objects, plane figures and plane shapes are required to flatten out on a plane in order to exist.
In conclusion, False: "it is typically the case that indifference curves have the same form across all customers." This statement is not true.
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What must an agent do if a buyer or seller refuses to sign the required ny disclosure form?
Finish up a declaration form that depicts current realities of what occurred.
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List the activities in the value chain in the order they occur for a cookie retailer, with the first activity on top.
This is the correct order :- 1) Acquire raw materials 2) Baking 3) Sales 4) Service.
What Is a Retailer?Retail is the practice of purchasers purchasing products and selling them directly to consumers, as opposed to suppliers or wholesalers. The retailers act as a liaison between wholesalers and clients. They buy products from the wholesaler and sell them in tiny quantities to the final clients. Retailers have the opportunity to produce and create more sustainable products since they offer a wide range of products and are in constant contact with a significant network of suppliers.
A retailer is the final link in the supply chain and the one that connects and distributes the goods and services directly to the customers; however, they do not create any of the products they sell.
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If a resident can bear weight, but are not able to stand due to balance, the cna would use?
A wooden board, also known as a transfer board, is used to move patients who are unable to bear weight on their leg if they can carry weight but are unable to stand owing to balance issues.
What purpose does a transfer board serve?
Common names for a flat, rigid board composed of wood or plastic are transfer board and sliding board. Its function is to fill the space between two surfaces.
What is the best method for transferring a patient who is unable to walk?
Because their knees are blocked when standing, a sit-to-stand is also one of the safest methods for transferring a patient. If they do lose their equilibrium, they normally get back to where they were sitting in bed. Any patient who merely wants a little extra lift should choose it.
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financial accounting primarily deals with the methods accountants use to provide information to an organization’s internal users.
Financial Accounting primarily deals with the methods accountants use to provide information to an organization’s internal users is false.
The basic role of Financial Accounting is to allow outsider to assess the value of an association.
Financial Accounting is a specific piece of accounting including a course of recording, summarizing, and enumerating the bundle of trades coming about in view of business undertakings all through some unclear time span.
The structure directs the guidelines, cycles, and norms for monetary recordkeeping.
These exchanges are summed up in the readiness of fiscal summaries, including the balance sheet, pay proclamation, and income explanation, that record the organization's working exhibition over a predetermined period.
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Because negative messages may cause anxiety for employees, it is usually best to begin with negative messages first, and then end with neutral messages. group of answer choices
a. true
b. false
The statement is false.
The indirect strategy involves delivering terrible news first, followed by a supportive comment, and then the bad news itself. A remark meant to soften the blow of unpleasant news is known as a buffer statement. It can provide some encouraging news or a carefully worded warning. The message should include reasonable justifications for the bad news after a buffer statement. The bad news should then be relayed as diplomatically as possible. Try to finish by having a constructive conversation.
The second strategy is to use a direct method to convey unfavorable sentiments. When the communication's recipient is receptive to the news, this strategy performs well. It can also be applied if the person anticipates a poor outcome.
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