To complete the measurement process, companies need to update balances of assets, liabilities, revenues and expenses for changes created by entries.

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Answer 1

To complete the measurement process, companies need to update balances of assets, liabilities, revenues and expenses for changes created by adjusting entries.

What is adjusting entry?

An adjusting entry is the entry that is posted after the posting of all the journal entries for a period, all the transactions are posted and then at the end of the period the adjusting entry is recorded.

The adjusting entry balances and effects the balance of the assets, liabilities, revenue and expenditure at the end of the period.

Adjusting entry is also posted when the reversing effect of the journal entry is to be posted and this results in the change of the account balances of assets and liabilities of the company.

The balance sheet and income statement is prepared after the posting of journal and adjusting entries.

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Related Questions

Frank recently lost his job as a photo lab technician. while he searches for a new occupation, his spaghetti purchases increases. for frank, spaghetti is:_________

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Frank recently lost his job as a photo lab technician. While he searches for a new occupation, his spaghetti purchases increase. for frank, spaghetti is inferior good.

What are inferior goods?

An inferior good, in contrast to normal goods, is one whose demand declines when consumer income improves (or increases when consumer income reduces) or whose demand increases when consumer income decreases. When consumer income rises, demand for normal items also rises.

In this view, inferiority is not a claim regarding the caliber of the commodity, but rather an observable fact relating to affordability. These items often cost less than $100 and serve the intended purpose well, but as more expensive alternatives that provide greater pleasure (or at least variety) become available, the use of the subpar items declines. It follows that poorer goods and socioeconomic status have direct relationships.

Due to the aforementioned observable inferiority, people with limited incomes tend to favor poorer things.

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Why would the threat of a takeover motivate a manager to act in stockholders' interest?

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Running the firm well and acting in the stockholders' interest makes the firm a less attractive takeover target, to begin with.

Who are Stockholders?A shareholder of a corporation is an individual or legal entity that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation.As noted above, a shareholder is an entity that owns one or more shares in a company's stock or mutual fund. Being a shareholder (or a stockholder as they're also often called) comes with certain rights and responsibilities.Which of the following mechanisms is used to motivate managers to act in the interests of shareholders? The threat of a takeover

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Open-market operations are the fed's most important method of__control.

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The Fed's primary tool for adjusting the money supply is open market operations.

Public Market Transactions

The Federal Reserve uses open market operations (OMOs), which are central banks' purchases and sales of assets on the open market, as a key tool for carrying out monetary policy. The Federal Open Market Committee establishes the short-term goal for open market operations (FOMC). In order to keep the federal funds rate, which is the interest rate at which depository institutions lend reserve balances to other depository institutions overnight, close to the target set by the FOMC before the global financial crisis, the Federal Reserve used OMOs to modify the supply of reserve balance.

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What is meant by reconciliation, and how can it be useful as an input to staff ing planning? wuizlet

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They can be helpful in identifying areas to concentrate on and in responding to projected results for the organisational unit.

What is Staffing Planning?
A staff planning is a strategic planning procedure created to evaluate the organization's present and future manpower needs across all departments. This procedure, sometimes referred to as a staffing planning, examines the quantity and kinds of workers you require to meet demands and accomplish organisational objectives. It involves far more than merely anticipating how many personnel you'll require over the coming months or years. It outlines the tactics you'll employ to not just strengthen but also extend your personnel. The entire process of filling a position, from sourcing and screening candidates to interviewing, choosing, and onboarding new hires, is referred to as staffing your business. Because every business has different requirements, no two staffing planning examples are the same.

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The two classifications used for assets and liabilities on the balance sheet are ______ and ______.

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The two classifications used for assets and liabilities on the balance sheet are current and non-current.

What are assets and liabilities?

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a point in time.

Assets are resources owned by a business that is used to generate positive economic value to the business. Current assets are assets that can be converted into revenue within an accounting period which can be a year. Examples of current assets are inventory, account receivable, cash. Noncurrent assets are long term investments whose value would not be fully realised within one accounting period. An example of noncurrent asset is machinery.

Liabilities are future benefits that would have to be sacrificed in the future by an entity to other entities as a result of past transactions. Current liabilities are liabilities that would be paid within an accounting period. An example of account payable. Noncurrent liability are liabilities that would not be settled within an accounting period. An example is bond payable.

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According to the cost conundrum the primary casue of mcallen's extreme costs was?

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According to the cost conundrum the primary cause of McAllen's extreme costs was the across the-board overuse of medicine.

Medical repercussions of an overdose

Here are some illustrations of severe effects of prescription drug abuse:

Opioids have the potential to result in low blood pressure, delayed breathing with the possibility of respiration ceasing, or a coma. A fatal overdose carries a sizable mortality risk.Sedatives and anti-anxiety drugs can impair memory, lower blood pressure, and slow breathing. Coma or death may result from overdosing. The drug's abrupt discontinuation may result in withdrawal symptoms such nervous system hyperactivity and seizures.A dangerously high body temperature, heart issues, high blood pressure, seizures or tremors, hallucinations, aggression, and paranoia are all potential side effects of stimulants.

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Randolph waters operates a watch repair business in mesa, arizona. He orders most of the watch parts from out-of-state suppliers. he orders watch faces from a supplier in escondido, california. The supplier does not have a sales force but relies on catalogs shipped to watch dealers throughout the country as his means of marketing. Randolph installed several of the supplier's watch faces on his customers' watches. A strange chemical reaction between perspiration and the faces of the watches caused randolph's customers to develop rashes and nausea, with some requiring hospitalization. Randolph wishes to bring suit to recover damages ($100,000) from the escondido supplier. Which of the following statements is true of this scenario? a. randolph must bring suit in california to gain jurisdiction over the supplier. b. randolph has a diversity action that can be brought in federal court. c. randolph will not be able to bring suit in arizona because there are no contacts in the state. d. randolph must bring suit in arizona state court.

Answers

The option Randolph has a diversity action that can be brought in federal court is a true statement

Option C is correct .

Federal Court :

Federal courts are courts of special jurisdiction, meaning they can only hear cases sanctioned by the United States Constitution or federal statutes. The federal district court is the commencement for any case arising under federal statutes, the Constitution, or treaties

What is the jurisdiction of a state?

Jurisdiction refers to the strength of a state to work on persons, property, and circumstances within its territory. It may be utilized through legislative, executive, or judicial actions.

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How does the environment of both the new england and middle colonies affect their economies?.

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New England had a suitable environment for industrial development. Its geography can be explained by hills and forest areas. Economies mainly focused on Industrial professions like making equipment for ships, boats, fishing, etc as the area was not suitable for farming because it had cold weather, hard rocky lands, etc. People here used to be mostly craftsmen, merchants, workers for boats, and lumberjacks. Many mills were created because of water availability. Industries affected New England's economy.The Middle Colonies had very fertile land than New England. Its geographical representation: Warmer climate with fertile soil, flat land, swift rivers flowing across, and wide valleys making it perfect for farming and growing crops. Because of the land suitable for farming, the Middle colonies also provided Trading opportunities. The economies were focused on professions like Farming, Traders.

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The case in which the u.s. supreme court first addressed the issue of related services and the idea was:_________

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The case in which the U.S supreme court first addressed the issue of related services and the idea was Irving ISD V. Tatro.

The United States' federal judiciary's highest court is the Supreme Court of the United States (SCOTUS). It has final appellate authority over all matters heard in U.S. federal courts as well as state court proceedings involving issues of federal law. In addition, it has exclusive jurisdiction over a select number of matters, including "all Cases involving Ambassadors, other public Ministers, and Consuls, and those in which a State shall be Party." The court has the authority to nullify a legislation for disobeying a constitutional provision thanks to its judicial review power. The Supreme Court was first founded by the First Congress through the Judiciary Act of 1789, and it is now established under Article Three of the U.S Constitution.

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Workplace health and safety education programs should be directed toward which employees?

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Occupational health and safety education programs should be directed to all employees including supervisors, managers and senior staff.

Occupational safety and health aim as guidelines, programs and practices that maintain the safety, welfare and health of workers. The ultimate goal of any safety and health program can be defined as a way to provide the safest working environment and minimize the possibility of injury, accident and death in the workplace.

Health and safety are important in the workplace because it includes the health and safety of everyone who works for you as well as your customers, visitors and suppliers. It may cost money and time at the start to implement safe practices and install safety equipment, but it is critical to the success of your business.

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The accuracy of a digital recording is determined by the device's ________ rate.

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The sampling rate is determined by the accuracy of the digital recording.

What is the Sampling rate in digital recording?

According to Nyquist’s Theorem, for an accurate digital representation of a sound wave, the sample rate must be at least two times bigger than the highest frequency record.

As the highest sound a human can hear has a frequency of 20 kHz, the minimum sample rate must be 40 kHz to be possible to digitalize this frequency.

As a component of the Nyquist-Shannon theorem, sample rates were first discussed in the 1940s. According to this, a sampling rate must have a frequency that is twice as high as the original recording for the sound to be accurately reproduced. Between 20 hertz (20Hz) and 20 kilohertz, the human ear is capable of hearing (20kHz). According to the theory, because 44.1 kHz is more than twice the upper limit of human hearing, it will produce a very accurate reproduction. However, some people continue to record at higher sample rates in order to capture all sounds. While these are not audible in the original recordings, if a 192 kHz audio sample were pitched down, some frequencies that were previously undetectable would become audible. Some of the highs might have been pitched down after being recorded at a lower sample rate.

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The ________ concept is specifically focused on the future welfare of consumers.

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The correct option is (A) Social marketing.

The social marketing concept specifically focuses on the future welfare of customers, but not on future company needs.

What is social marketing?

Social marketing is a technique that makes use of marketing resources to encourage social change. Economic, environmental, and social reasons are promoted by social marketers. They raise topics including global warming, sustainability, public health, and poverty, among others.

How is social marketing used?

In order to encourage the adoption and maintenance of healthy behaviours, social marketing now employs commercial marketing techniques. These techniques include target audience analysis, identification of targeted behaviour change objectives, message customization, and adaptation of branding strategies.

What characteristics define social marketing?

Social marketing aims to alter people's behaviour for the betterment of society as a whole by utilising social science and commercial marketing ideas.

• Behaviour

• Focus on customers

• Theory

• Insight

• Exchange

• Competition

• Segmentation

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The complete question is :

“The ________ concept specifically focuses on the future welfare of customers, but not on future company needs.

A) societal marketing

B) strategic planning

C) sustainable marketing

D) marketing

E) selling”

_______________ liberties place restraints on how government is supposed to act, while ____________ liberties limits what the government has the power to do.

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Procedural liberties place restraints on how government is supposed to act, while substantive liberties limits what the government has the power to do.

Procedural liberties are regarded as the restraints on how the government is supposed to act. For instance, the citizens of a country are guaranteed the due process of law suppose when they are to be charged with a certain crime.

Whereas, the substantive liberties are restraints which are known to be limiting what the government shall have the power to do. This can thus include the restricting freedom of speech, freedom of the press, or freedom of religion.

Hence, procedural liberties and substantive liberties both differ in their approach.

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Atlantic+bank+is+required+to+hold+10%+of+deposits+as+reserves.+if+the+central+bank+increases+the+discount+rate,+how+would+atlantic+bank+respond?

Answers

In this case the Atlantic bank will respond by increasing its bank reserves.

Bank reserves is the minimal amount of cash that financial institutions must keep on hand in order to comply with central bank standards . The purpose of the cash reserve regulations is to make sure that every bank has enough cash on hand to handle any significant and unforeseen demand for withdrawals.

The federal discount rate is the interest rate that the Federal Reserve  bank charges banks to borrow money from it.

A higher discount rate makes it more expensive for banks to borrow, which reduces the amount of money available and reduces investment activity.  In contrast, a decline in the discount rate lowers the cost of borrowing for commercial banks, which increases the amount of credit that is accessible and lending activity across the economy.

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Paying an amount on account reduces:_______
a. an expense.
b. stockholders' equity.
c. net income.
d. the amount owed on a liability.

Answers

Option (d) the amount owed on a liability is correct.

Paying an amount on account reduces the amount owed on a liability.

What is liability?A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.There are various ways to define a liability's duration. The average duration (or mean term) of the liability is what is typically meant by the term "duration of liability" in actuarial valuation. In other terms, it refers to the typical rate of a liability's repayment.Liabilities can be used by businesses to increase liquidity if they are having cash flow issues. Most small and medium-sized enterprises lack the financial resources necessary to grow.

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If an organization has an obligation to pay $25,000 to a supplier two years from now, the present value of the obligation:__________

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If an organization has an obligation to pay $25,000 to a supplier two years from now, the present value of the obligation is less than $25,000.

What is the present value?

A future sum of money or stream of cash flows' present value, or PV, is its current value at a particular rate of return. The higher the discount rate, the smaller the present value of the future cash flows are, as future cash flows are discounted at the discount rate. The key to accurately valuing future cash flows, whether they be earnings or debt obligations, is determining the right discount rate.

The temporal value of money's fundamental tenet is straightforward: A dollar spent today is worth more than one you will get later. This is so that the money you have now can be invested and increase over time at a rate of return or interest. The money you receive "tomorrow" can't be invested today, so its potential for appreciation is diminished.

Here's a simple method for examining present value. $1,000 multiplied by 1.02 equals $1,020 if you deposit $1,000 today in a savings account earning 2% interest each year. With a 2% interest rate, $1000 represents the present value of $1,020 in a year.

Thus, the Present value is the actual current value of any asset.

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Synergy will ______ the sales of existing products.
a. increase
b. reduce
c. not affect

Answers

Synergy will increase the sales of existing products.

Synergy is the concept that the value and performance of two companies combined will be greater than the sum of the separate individual parts.

If two companies can merge to create greater efficiency, the result is what is referred to as a synergy merge.

Therefore, synergy increases the sales of existing products.

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A free market is a market with​ ________ government restrictions on how a good or service can be produced or sold and with​ ________ government restrictions on how a factor of production can be employed.

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'A free market is a market with​ few government restrictions on how a good or service can be produced or sold and with​ few government restrictions on how a factor of production can be employed.

In economics, the free market is an idealized cognitive model of an economic system in which the prices of goods and services are determined by the supply and demand of sellers and buyers. Such market as modeled works without intervention of government or other external agencies.

Economists define a free market as a market in which products are exchanged between willing buyers and sellers. Purchasing food at prices set by farmers is a good example of economic interaction. Paying an employee a monthly salary is another case where economic exchange takes place.

The opposite of a free market economy is a planned, controlled, or command economy. Governments control the means of production and the distribution of wealth, determine the prices of goods and services, and determine the wages received by workers.

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Managers are often assigned to supervise several concurrent audit engagements.
true or false

Answers

True, Managers are often assigned to supervise several concurrent audit engagements. Below you can read more about managers and Managerial responsibilities.

Who is a Manager

A manager refers to a person whose role is to control or administer a group of staff in an organization. Managers are often top ranking personnel in an organization and their major function is to supervise other employees and direct them towards achieving the goals and mission of the organization.

Managerial Responsibility

the major responsibilities of manages include the following

figureheadleaderliaisonmonitordisseminatorspokespersonentrepreneurdisturbance handlerresource allocatornegotiator

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After conducting market research, the next step in developing a marketing plan is to:______.

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After conducting marketing research , the subsequent step in developing a marketing plan is to selecting a target market .

What is Target Market ?

A target market may be a particular group of people with common traits to whom a company offers its goods or services. Target markets assist businesses fully comprehend their potential clients in order that they may develop marketing strategies that support their commercial and marketing goals.

The four primary categories of market segmentation are thought to be geographic, psycho-graphic, behavioral, and demographic; however, there are many other tactics you'll employ, also as countless variants on the four primary types. Here are another strategies you might want to consider.

Who is target consumer ?

A target consumer is someone who will presumably purchase your product. Additionally, it's a segment of the larger target market. as an example , if female athletes between the ages of 13 and 25 structure your target market, female athletes between the ages of 13 and 16 could be your ideal target consumer.

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The difference between the price the firm sells a good for and the price the firm paid other firms for intermediate goods is called?

Answers

The difference between the price the firm sells a good for and the price the firm pays other firms for intermediate goods is called value added.

What are intermediate goods?

Products used as inputs in the creation of other goods, including final goods, are referred to as intermediate goods, producer goods, or semi-finished products. A company can produce intermediate items, sell them, or purchase them to utilize later. Intermediate items are used in the production process and either ends up in the finished product or undergo significant transformation. This means that between industries, intermediary commodities are resold. Since only the final product should be counted and the value of the intermediary good is included in the value of the final good, intermediate goods are not included in a country's GDP calculation.

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All of the following except ________ pertain to the scope of a business message.

Answers

All of the following except​ the sequence in which the information is presented means the scope of a business message.

Which of the following are steps in the business message planning procedure?

The three-step writing procedure includes planning, writing, and completing the business message. Planning concerns analyzing the situation, gathering information, choosing the right medium for your message, and organizing the data.

The content of a business message is the range of data you present, the overall length, and the status of detail—all of which should resemble your main idea.

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a broker acts as an agent in all of the following functions except: select one: a. leasing property b. selling property c. appraising property d. exchanging property

Answers

A broker acts as an agent in all of the following functions except: exchanging property.

Broker is a term which is used for an individual who charges a commission for executing buy and sell orders. They play an important role for guiding the buyer through all the related paperwork.

The one of the most important function of a broker is only to solve a client's problem for some fee. Secondary functions are such as  lending to clients for margin transactions, and it also involves providing information support regarding the situation on trading platforms.

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What are the units for multifactor productivity of a fish market serving a number of customers with hours of labor, square feet of facility space, and equipment cost?

Answers

Multifactor productivity of a fish market serving a number of customers with hours of labor, square feet of facility space, and equipment cost, is 0.167 unit per dollar.

Multifactor Productivity

A measure of economic performance known as multifactor productivity (MFP) contrasts the quantity of output with the quantity of all the inputs utilised to achieve that output. Combinations of inputs may include acquired labour, money, energy, supplies, and services.

What is the formula for multifactor productivity?

The MFP equation is:
Cost per unit is calculated as follows: output units / (inputs of labour, capital, and materials).
A marketing company employs Amanda as their team manager.
Productivity equals 25 units divided by $400, or 0.06 units per dollar.

Multifactor productivity calculation:
Output = 300 units
Input:
Labor cost: 3 workers $20 8 hours = $480
Material cost: 600 pounds * $1 = $600
Overhead cost: $480 * 1.5 = $720
=300 / (480+600+720)
= 0.167 units per dollar

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Complete Question

When an employee complains to his or her employer about racial harassment, the employer should:________

Answers

When an worker complains to his or her organisation about racial harassment, the company ought to take action on that and make sure that no racial harassment occur within the employees.

What is racial harassment in workplace?

Racial harassment includes unwelcome and racially offensive behavior in the workplace. The harasser can be your supervisor, a supervisor in another area, a co-worker, or any one who does not work for your employer, such as a consumer or customer.

What qualifies as harassment?

Harassment can consist of things like verbal abuse, bullying, jokes, making faces and posting comments about you on social media. It also includes sexual harassment.

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What is the yield on a 5-year zero-coupon bond with a par value of $1,000 if it is purchased for $750?

Answers

The yield on a 5-year zero-coupon bond with a par value of $1,000 if it is purchased for $750 is 6%

Explanation

Zero Coupon Bond Yield = [tex]\frac{F}{PV} ^\frac{1}{n} - 1[/tex]

where, F = Face value = 1000

            PV = present value = 750        

            n = number of periods = 5

Now applying the given data on the formula we get,

Yield = [[tex](\frac{1000}{750} )^\frac{1}{5} - 1[/tex]        

         = [tex](\frac{4}{3} )^\frac{1}{5} - 1[/tex]      

         = [tex]\sqrt[5]{\frac{4}{3}} - 1[/tex]      

         = 0.05922          

         = 5.922% ≈ 6%

What is a zero-coupon bond?

A zero-coupon bond, also known as an accrual bond, is a debt product that doesn't pay interest but trades at a considerable discount, producing income when the bond expires and is redeemed for its full face value.

Some bonds are initially issued as zero-coupon instruments, whereas other bonds are first detached from their coupons and then repackaged as zero-coupon bonds. Due to the fact that they offer the whole payment at maturity, zero-coupon bonds' prices vary far more than coupon bonds' do.

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The basis of strategic position through serving few needs of many customers is known as:_____.

Answers

Strategy is the basis of a strategic position by serving only a few needs of many customers.

When there is a creation of a unique & valuable position it is called strategy. This strategic position can be developed through three sources. The first one is many customers and few needs. The second one is by having few customers and broad needs. The third one is by having many customers and broad needs.

A type of competing for the strategic position in strategy is known as Trade-Offs competing. The trade-Off competition requires the company to focus only on a few compatible strategies. Under this method, the company will not follow more strategies that are general but focus its attention only on a strategy that is specific. So the company will try to implement a system that is independent and different and reinforces each of its activities.

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Suppose market demand and supply are given by qd = 100 - 2p and qs = 5 3p. the equilibrium price is:_________

Answers

Suppose market demand and supply are given by QD = 100 - 2p and qs = 5 3p. the equilibrium price is $19.

Demand Equation for equilibrium

The demand Equation for equilibrium says that

Quantity Required = Quantity Delivered. Thus,

100- 2P=5 + 3P

95 = 5P

P= 19

How is the equilibrium price determined?

The equilibrium price is the cost at which the quantity ordered equals the quantity provided. It is defined by the intersection of the order and supply curves. A surplus lives if the quantity of a good or service supplied surpasses the quantity required at the current price; it causes a downward force on price.

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Purchasing power parity is a means of adjusting the exchange rates for two currencies so that they have blank______ purchasing power.

Answers

Purchasing power parity is a well-liked macroeconomic study metric to contrast economic productivity and living standards between nations (PPP). PPP, which is not to be confused with the Paycheck Protection Program established by the CARES Act, is an economic theory that contrasts the currencies of various nations using a "basket of goods" approach.

When a basket of items is priced the same in both nations while accounting for exchange rates, two currencies are said to be in equilibrium, or to be at par. Economists can compare economic production and living standards across nations thanks to purchasing power parity (PPP). In order to account for PPP, some nations modify their GDP estimates.

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A form of business ownership that provides limited liability, as in a corporation, but is taxed like a partnership is a(n)?

Answers

A form of business ownership that provides limited liability, as in a corporation, but is taxed like a partnership is a(n) limited liability company (LLC).

What Is a Limited Liability Company (LLC)?

In the United States, a limited liability company (LLC) is a type of corporate structure that shields its owners from being held personally liable for the obligations of the firm. Limited liability companies are hybrid legal entities with traits shared by corporations, partnerships, and sole proprietorships.

The provision of flow-through taxes to the members of an LLC is a feature of a partnership rather than an LLC, despite the fact that the limited liability aspect is similar to that of a corporation.

A corporate form known as a limited liability company (LLC) shields its owners from being held personally liable for the obligations of the company.

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William has $25 to buy strings for his guitar. Each set of strings costs $9.How many sets of strings can he buy? Do not include units in your answer. How do answer this question? The marriage of pocahontas to __________ ____________ ended the first anglo-powhatan war. I need help with my French homework He favored stronger state government givingeach state freedom to govern according totheir needs.HamiltonJefferson A 40-inch board is to be cut into three pieces so that the second piece is twice as long as the first piece, and thethird piece is 5 times as long as the first piece. If x represents the length of the first piece, find the lengths of allthree pieces. A universitys freshman class has 7600 studends. 73% of those students are najoring in computer science. How many students in freshman clsss are computer science majors? The _____ is a large, round body within the cell that contains the cellular genetic components (genes). Which body determines the rules that are used in the united states for reporting accounting information and producing financial statements? How did the evidence from bullet clusters prove that the universe had dark matter? Do 5.8 and 5.08 have the same value? In a complete sentence, explain why or why not?please help I can't figure it out Consider the following information for a machine: cost = $15,000 residual value = $3,000 useful live = 5 years using straight line depreciation, what would the monthly amount of depreciation be? Which environmental risk does the environmental protection agency view as high, even though the general public perceives it as low?. how does sustainable development raise the sense of responsibility? Exercise 1 Write s if the sentence is simple or c if it is compound.We helped the neighbors rake leaves, and they helped us wash windows. Exercise 2 Circle each prepositional phrase in the sentences below and draw an arrow to the word or words it modifies.We found sticky paw prints on the kitchen floor. Juan complet sus ejercicios de ortografa est maana one isotope of tellurium, tellurium-123, has seventy one neutrons. what must tellurium's atomic number be? A product includes anything that would enhance it in the eyes of consumers, such as the:_______. If the price of music lessons falls to $20$20dollar sign, 20, which of the following best describes the income and substitution effects?