Revenue is recognized when the seller :
collects cash from customers , if using cash basis accounting.
Services are provided even if cash has not yet been collected, if using accrual basis accounting
What is cash and accrual accounting?Accrual accounting is an accounting method in which an expense or income is recorded at the time when the transaction occurs. The purpose of accrual accounting is to match income and expenses with the period in which they occur.
If the accrual accounting method is used, the expense would be recorded when the order is made.
The cash basis of accounting is an accounting method that records revenue only when cash is received and records expenses only when cash is paid.
Cash accounting does not include account receivable or account payable. An advantage of the cash basis of accounting is it easy to use. A disadvantage of cash accounting is it is a less accurate representation of financial position of a company.
IFRS or US GAAP does not allow cash accounting but allows accrual accounting.
Here are the options:
Cash is collected from customers, if using cash basis accounting
2) Borrowing money from a bank, if using cash basis accounting
3) Borrowing money from a bank, if using accrual basis accounting
4) Services are provided even if cash has not yet been collected, if using accrual basis accounting
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The model of technological choice presented in unit 2 of the economy suggests that the main reason the industrial revolution first occurred in britain was that:_____.
the main reason the industrial revolution first occurred in Britain was that in Britain the price of coal was low relative to labor. Thus, making everyone want to own and make products using the steam engine which ultimately created the first industrial revolution.
The Industrial Revolution, which took place between roughly 1760 and between 1820 and 1840, was the adoption of new manufacturing techniques in Great Britain, continental Europe, and the United States. This transition encompassed the switch from manual to mechanical production methods, the invention of new ways of producing chemicals and the iron, the expansion of steam and water power, the creation of machine tools, and the growth of the mechanized factory system.
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Implementing the strategy is often overlooked by senior managers especially in large organizations. What level of manager is often responsible for making sure the strategy gets implemented in alignment with the corporate goals?.
Functional managers are level of manager is often responsible for making sure the strategy gets implemented in alignment with the corporate goals.
What are the responsibility of functional manager ?In general, a functional manager oversees the technical work of team members from that functional area who are performing on the project. They manage and own the resources during a particular department, like IT, engineering, PR , or marketing. decisions regarding the long-term allocation of a company's financial resources to activities.
Capital budgeting is that the process a business employs to evaluate potential large projects or investments. Capital budgeting is required before a project is approved or rejected. Such initiatives can involve building a replacement facility or making a size able investment in a different company.
Capital assets are often long-term investments like new equipment, structures, and software updates, whether or not they represent a very small portion of a company's total assets.
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The managerial role of a ________ is best described as giving direct command and orders to subordinates
The managerial role of a leader is best described as giving direct command and orders to subordinates
What is the function of management ?The pursuit of organizational goals efficiently and actually by including the work of people through planning, organizing, leading, and controlling. This process of management involves monitoring performance, reaching it with goals, and making adjustments if needed.
What are the distinctions among the three levels of management?
The three levels of management in most communities are top-level management, mainly responsible for overseeing all functions, middle-level management, responsible for executing plans and procedures, and low-level control, responsible for direct task performance and deliverables.
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Suppose you borrow $10,000 right now to start a business. if the terms of the loan require you to pay back $12,000 in 5 years, what is the implied annual compound interest rate?
Assume you borrow $10,000 proper now to start a business. if the phrases of the mortgage require you to pay returned $12,000 in 5 years, the implied annual compound interest rate: is 3. seventy one%
Implied annual compound interest charge = (future value / initial fee)^1/periods - 1
implied annual compound hobby price = (12,000 / 10,000)^1/five - 1
implied annual compound interest rate = (1.2)^1/5 - 1
implied annual compound interest fee = 1.0371 - 1
implied annual compound interest rate = 0.0371 or 3.seventy one%
Compound interest is the addition of a hobby to the predominant sum of a mortgage or deposit, or in other words, hobby on primary plus interest.
Compound interest is when you earn interest on each of the money you've stored and the interest you earn. So let's say you invest $1,000 (you're foremost) and it earns 5 percent (hobby rate or earnings) once a year (the compounding frequency).
The month-to-month compound interest system is used to discover the compound interest per month. The system of the monthly compound hobby is CI = P(1 + (r/12) )12t - P where, P is the major amount, r is the hobby fee in decimal form, and t is the time.
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The interval measure is useful for start-up companies because it indicates how long a company can operate until _____.
Answer: It needs another round of financing
Explanation:
In most markets, _____ is determined by the interactions of numerous buyers and sellers
In most markets, the price of labor and the price of goods and services is determined by the interactions of numerous buyers and sellers.
What is the price?
The exchange of products or services for money is known as a price. In society, there would be no marketing without pricing. The main element that impacts sales operations is the lack of exchange value of a thing or service that has been agreed upon in a market transaction.
If there is no money, the exchange of goods can still take place, but without a price.
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The purpose behind a secondary sources of law is to increase the level of _______ and _______ across courts in all 50 states.
The purpose behind a secondary sources of law is to increase the level of uniformity across courts in all 50 states.
What are Secondary Sources of Law?In general, anything that discusses and analyzes primary sources is probably a secondary source if authorities like statutes and case law that establish the law are considered primary sources.
Given the broad scope of the concept, it is not surprising that secondary sources can have a wide range of characteristics and purposes, similar to the various approaches to analyzing laws and case law.
For instance, many secondary sources take the form of authoritative thematic treatises, while others take the form of live or recorded seminars. Other such authority may compile case law or statutes from various jurisdictions. And even that barely scratches the surface of all the secondary legal sources that are readily available.
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The correct question is “The purpose behind a secondary sources of law is to increase the level of ______ across courts in all 50 states.”
Can saas provide any combinations of functions depending on customer's exact needs?
Depending on a client's precise requirements, the might offer any mix of tasks, including, for instance, monitoring, storage, applications, and virtual desktops. services created online or on a company's own servers in its own data center for that company's personal usage.
What is SaaS?SaaS, usually referred to as cloud-based software, is now widely used. One of the top three emerging technology investment areas, according to nearly half (48%) of respondents to Gartner's 2021 Emerging Technology Product Leader Survey who are investing in data and analytics, is cloud-based software.
And with good cause. Web-based business apps are paid for on an hourly basis rather than all at once and don't require difficult installations or binding contracts. The systems are typically more adaptable and cost-effective due to this.
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How many chargers must be produced and sold if you wish to make a profit of $45389? round up to the nearest whole number.
In order to make a profit of $45389, 7879 charges must be sold.
What does profit means?Profit is the term used to describe the financial gain experienced when the revenue from a business activity exceeds the costs, costs, and taxes associated with maintaining that activity.
Any profits generated are returned to the company's owners, who can decide whether to keep the money for themselves, pay dividends to shareholders, or reinvest it in the company. The money a business keeps after deducting all costs is known as profit. The main objective of every business, whether it be a little lemonade stand or a publicly traded multinational corporation, is to make money. As a result, a business's success is measured by its profitability in all of its forms.
Explanation:
Cost function equals 50500+2.48x (fixed cost + variable cost).
Income function = 14.65x
Revenue function - cost function = profit.
Profit function equals (50500+2.48x)/14.65.
Profit function equals 14.65 x 50500 - 2.48 x, or 12.17 x 50500.
If x is now 5500,
Profit therefore equals 12.17 x 5000 – 5000 = 16435.
Given that profit is 45389, this means that 45389 = 12.17 x 50500 (45389 + 50500) / 12.17 equals 7879.
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Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is:______.
Management's plan for making money in a particular line of business and the revenue-cost-profit economics of the company's strategy is Strategic Management.
Strategic Management is the most widely recognized approach to spreading out goals, frameworks, and focuses to make an association or affiliation more serious. Consistently, the fundamental organization looks at effectively passing staff and resources on to achieve these targets.
In business, it is critical because it allows an association to look at districts for useful improvement. Generally speaking, they can understand either a consistent connection, which recognizes likely risks and opens entryways, or simply notice essential standards.
An association could choose to follow either a prescriptive or elucidating method for managing the executives. Under a prescriptive model, frameworks are delineated for development and execution. On the other hand, an elucidating model portrays how an association can cultivate these frameworks.
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A newborn child receives a $ gift toward a college education from her grandparents. how much will the $ be worth in years if it is invested at ompounded quarterly?
The value of $20,000 be worth in 17 years if it is invested at 7% and compounded quarterly is $65068.443.
What is compound interest?Compound interest means simply that the interest on a bank account, lending, or investment grows exponentially over time rather than linearly. Compound is the key word here.
Assume you invest $100 in a company that pays a 10% dividend each year.
Her grandparents give a $20,000 college education gift to a newborn child.
[tex]\mathrm{A}=\mathrm{P}\left(1+\frac{\mathrm{r}}{\mathrm{n}}\right)^{\mathrm{nt}}[/tex]
Where A is the final amount,
P = principal amount,
r = interest rate,
n = number of times interest is applied in given time period, and
t = number of periods elapsed.
In the above formula, replace the known terms with:
[tex]\begin{aligned}&A=20000\left(1+\frac{0.07}{4}\right)^{4 \times 17} \\&A=20000(1.0175)^{68}\end{aligned}[/tex]
A = $65068.443
So, if $20,000 is invested at 7% as well as compounded quarterly for 17 years, it will be worth $65068.443.
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The complete question is-
A newborn child receives a $20,000 gift toward college education from her grandparents. How much will the 20,000 be worth in 17 years if it is invested at 7% and compounded quarterly?
How many dollars an hour is the minimum a worker in the united states can be paid.
The bare minimum wage in the United States is $7.25 per hour.
What does minimum wage mean?
According to federal law, a minimum wage is the lowest salary an employee may be paid per hour. Nonexempt workers may not be offered a job or agree to work for less than the legally required minimum wage level for hourly compensation.
which state's minimum wage is the lowest?
The minimum wage in both Georgia and Wyoming is only $5.15. Employers in these states that are governed by the Fair Labor Standards Act, however, are required to pay their staff the $7.25 federal minimum wage. The same guidelines apply to Alabama, Louisiana, Mississippi, South Carolina, and Tennessee, the five states without a minimum wage.
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If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to?
If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to Triple taxation.
What is taxation?
A tax is a mandatory financial charge or other type of levy that is levied against a taxpayer by a government agency in order to pay for government expenses and other public expenditures. The main goal of taxation is to raise money for the services that the community needs and to support the community's needs.
Therefore,
If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to Triple taxation.
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Assume the materials cost to produce 1,000 units was $390,000. what would the materials cost be per unit and in total to produce 2,000 units?
The cost per unit is $390.
The total cost of producing 2,000 units is $780,000.
What is the total cost?The cost per unit is known as the average cost of production. In order to determine average cost, divide the total cost by the total unit produced.
Average cost = total cost / total unit
$390,000 /1000 = $390
The total cost of producing 2000 units = average cost x number of units
$390 x 2000 = $780,000
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Munster inc. debits deferred revenue and credits service revenue. as a result of this adjusting entry, munster's:______
Munster inc. debits deferred revenue and credits service revenue. as a result of this adjusting entry, Munster's equity will increase
liabilities will decrease
This is further explained below.
What is Revenue?Generally, Revenue is the entire amount of money earned through the sale of products and services connected to the principal activities of the firm. In accounting, revenue refers to the total amount of income generated.
The term "commercial income" is synonymous with "sales" and "turnover" in the business world. Interest, royalties, and many other fees may all be sources of income for certain businesses.
In conclusion, Deferred revenue is debited and service revenue is credited by Munster Inc. Munster's equity will rise as a consequence of this adjusting entry, while liabilities will fall.
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Market offerings include entities such as people, places, information, and ideas.
a. true
b. false
'Market offerings include entities such as people, places, information, and ideas.
This statement is True.
A marketing offer is a product or service that a business offers to its customers to meet their needs. Offers include more than individual products or services. This includes the added value companies add to their products, such as: B. Comfort, quality and support.
A combination of products, services, information, or experiences offered to the marketplace to satisfy a need or desire. For example, in the food industry, a "market offer" could be a sandwich. Market offerings generally also include other entities such as people, places, organizations, information, and ideas.
Intangible value propositions are embodied in offerings that are combinations of products, services, information and experiences. A brand is an offer from a known source.
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If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sales revenue, how will this error affect net income for the current period?.
There will be inadequate liabilities.
the required details about sales revenue is mentioned below
What Does Sales Revenue Mean?
Sales revenue is the money a business makes from selling products or offering services. Sales and revenue can, and frequently are, used interchangeably to refer to the same thing in accounting. It is significant to remember that revenue does not always equate to money received. One part of sales revenue may be paid in cash, and the other part may be paid on credit using methods like accounts receivable.
Either the gross revenue total or the net revenue amount can be used to represent sales revenue on the income statement. All deductions for product returns, the potential for undelivered items, and the cost of bad debt are all included in net revenue.
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When calculating free cash flows to common equity shareholders, financing activities do not include?
When calculating free cash flows to common equity shareholders financing activities do not include: Adjustments for capital expenditures
Why free cash flow is important?
Free cash flow is important to investors and business analysts as it tells how much cash your company has at its disposal. They often assess your free cash flow to assume whether your company has sufficient cash to repay debts, issue dividends and buy back shares.
What affects free cash flow?
The company's net income greatly impact on a company's free cash flow by influencing a company's ability to produce cash from operations.
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Which dimensions should a marketer consider when dealing with the human aspect of distribution channels?
Dimensions that a marketer should consider when dealing with human aspect of distribution channels are communication, conflict, roles, and power. Conflict arises when one marketing channel participant believes that the acts of another participant have prevented him or her from achieving his or her objectives. Power is the ability of one channel member to command or shape the actions of another channel member (s). A role is a set of guidelines that specify how a positioning member should behave. Members of the channel engage in communication activities that produce an information flow within the channel, which is required for an effective movement of goods or services throughout the channel.
The people, businesses, and initiatives that make products and services accessible to consumers are referred to as marketing channels. From the moment of production to the point of consumption, ownership of the commodities is transferred. Trade exhibitions, business gatherings, and targeted email is the example of marketing channels.
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Suppose+a+u.s.+treasury+bond+will+pay+$2,500+five+years+from+now.+if+the+going+interest+rate+on+5-year+treasury+bonds+is+4.25%,+how+much+is+the+bond+worth+today?
These are taken to be relatively risk-free as they are issued by the government. As such, they can be taken as benchmark rates for selecting the rate of return of corporate commercial documents and corporate binds.
Treasury bondThe purposeful worth of the given U.S. Treasury bond today is $2,030.31.
The present worth of the U.S. Treasury bond is given by:
= Future value / (1 + interest rate) ^ {number of years}
{eq}= \dfrac{\$2,500}{(1 + 4.25\%) ^ {5}} {/eq}
{eq}= \dfrac{\$2,500}{(1.0425) ^ {5}} {/eq}
= $2,030.31
Subtracting the purchase price from the par value yields a gain in dollars. Splitting that difference by the purchase price then shares the rate.
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Suppose the working age population (wap) is 300 million. if the unemployment rate (ur) is 5 nd there are 228 million employed (e), what is the labor-force participation rate (lfpr)?
Based on the working age population and the unemployment and employment numbers, the labor-force participation rate is 77.7%
What is the labor-force participation rate?The labor-force participation rate can be found by the formula:
= Labor force / Working age population
The labor force is:
= Unemployed people + Employed people
The labor-force participation rate is therefore:
= (5 + 228) / 300
= 233 / 300
= 0.7767
= 77.7%
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One reason for employers being biased against older workers is that older workers generally _____ than younger workers, and companies are always looking to reduce costs.
Earn Higher Salaries.
One reason for employers being biased against older workers is that older workers generally earn higher salaries than younger workers, and companies are always looking to reduce costs.
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In some cases, organizations will use a(n) __________ to solicit ideas for projects when the knowledge requirements for the project are not available in the organization.
In some cases, organizations will use a(n) request for proposal to solicit ideas for projects when the knowledge requirements for the project are not available in the organization.
What is a request for proposal?This is the term that is used to refer to the type of document that a person would have that is able to make the announcement for a project as well as providing the description for that project and the bids for the people that can be given the projects as contractors.
Hence we can say that business document that announces a project, describes it, and solicits bids from qualified contractors to complete it.
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The means by which individuals hold their claims on real assets in a well-developed economy are.
Answer:Financial assets
Explanation:
The tax cuts and jobs act of 2017 set the corporate tax rate to be ______ regardless of the level of taxable income.
The tax cuts and jobs act of 2017 set the corporate tax rate to be 21% regardless of the level of taxable income.
Tax Cuts and Jobs Act of 2017
The Tax Cuts and Jobs Act, which altered the Internal Revenue Code of 1986, was reintroduced in Congress as the Act to provide for reconciliation according to sections II and V of the concurrent resolution on the budget for fiscal year 2018, Pub.L. 115-97.What did the Tax Cuts and Jobs Act of 2017 achieve?Deductions, depreciation, expensing, tax credits, and other business-related tax items have altered as a result of the Tax Cuts and Jobs Act ("TCJA"). Business owners may use this side-by-side comparison to comprehend the changes and make appropriate plans.To learn more about the Tax Cuts Act, Click the links.
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The capability of corporations to influence government, the economy, and society, based on their organizational resources is called:__________
CSR aids in enhancing a number of societal facets as well as enhancing the reputation of businesses.
What Is Corporate Social Responsibility (CSR)?
Corporate responsibility programs are also a wonderful method to increase morale in the workplace. Environmental effects, moral duty, charitable work, and financial obligations are the four main subcategories of CSR.
Corporate social responsibility (CSR) is a self-policing corporate strategy that enables an organization to be socially accountable to its customers, employees, and stakeholders. Companies can be aware of their impact on the economic, social, and environmental aspects of society by engaging in corporate social responsibility, often known as corporate citizenship. When a firm practices corporate social responsibility (CSR), it means that it operates in a way that benefits society and the environment rather than detracting from it.
Corporate social responsibility is a business strategy that encourages businesses to work in ways that benefit society and the environment rather than harming them.
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____ sites are web sites that individuals and businesses use to conduct social interactions online.
Online social interactions between people and businesses take place on social networking websites.
A social networking site is an online community where users can connect with one another and build public profiles. Social networking sites typically let new users create a list of contacts they have a connection with, and those contacts can subsequently confirm or deny the link. Once connections have been made, a new user can look through existing connections to find new ones.
A social networking site is also referred to as a social website or a social networking website.
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Which annuity payout option usually results in the largest periodic payment?
a. unit refund annuity
b. joint and last survivor annuity
c. life annuity
d. life annuity-period certain
The correct option is (c) life annuity.
The payout increases as the predicted annuity term decreases. The life annuity is the shortest predicted term because it only lasts for the duration of that person's life.
What is life annuity ?A financial instrument known as a life annuity offers a predetermined periodic payout amount until the annuitant's death. Annuitants purchase a life annuity by paying premiums or a lump amount. In order to complement or provide for retirement income, life annuities are frequently employed.
A joint and last survivor annuity pays the surviving spouse when one person dies; a unit refund annuity gives a lump payment if a person dies early. A life annuity with period certain continues to pay for a set time period if the person dies early.
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What are the effects on the accounting equation when dividends are declared and paid?
Since a stock dividend does not result in the creation of a liability, the accounting equation is unaffected by its declaration. However, the composition of stockholders' equity does vary. The stockholders' equity will only be rearranged when the dividend is paid out, but the accounting equation will remain the same.
Retained earnings fall for a tiny stock dividend while common stock and paid-in capital in excess of par rise. Common stock rises and retained earnings fall for a sizable stock dividend. A stock dividend is a dividend payment that is delivered to shareholders in shares as opposed to cash. The benefit of the stock dividend is that it rewards shareholders without dipping into the company's cash reserves. The majority of these stock distributions are made as fractions paid per outstanding share.
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ron king is a single airline ticket agent who claims 1 allowance. his gross weekly salary is $320.00. each week he has deducted federal, social security, and medicare taxes; $26.20 for medical insurance; 1.5% state tax; and $25.00 for the credit union.
Deductions:-
Federal Tax => $24 (from given data)
Social Security => $19.84 (6.20% of $320)
Medicare => $4.44 (6.45% of $320)
State Tax => $4.80 ( 1.5% of $320)
Medical Insurance => $26.20 (from given data)
Credit Union => $25 (from given data)
Reductions = ∑(24+19.84+4.44+4.80+26.20+25)
=104.28.
Now,
Net Pay = 320-104.28
= $215.72
So, Ron's Net Pay should be $215.72.
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