What is the effect of an accrued expense (such as salaries expense) adjustment on the income statement and the balance sheet? (check all that apply.)

The resources are the source of a firm's capabilities, which are the source of the firm's core competencies RCC.

In the corporate world, resources are converted into useful goods or services. The infrastructure, labor force, armed forces, and natural wealth of a nation is employed for the development of its economy and political system as well as for the benefit of its citizens. Numerous fields, including economics, business, the environment, and human society, have used the concept of resources.

Utility: Resources are employed to meet customer needs.

Limited accessibility: The supply of resources is insufficient compared to the demand.

Potential for depletion: As resources are used up, their availability decreases progressively.

Depending on their source, resources can be classed in a variety of ways, such as biotic or abiotic, renewable or non-renewable, and potential or actual.

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A joint venture is usually formed for a single transaction or project

The term "joint venture" (abbreviated "JV") refers to a corporate company formed by two or more partners that are typically distinguished by shared ownership, rewards and risks, and governance. Companies frequently enter into joint ventures for one of four reasons: to obtain access to a new market, especially an emerging market; to achieve scale efficiencies by integrating assets and operations; to share risk for significant investments or projects; or to gain access to talents and capabilities. The argument that joint ventures lessen downside risk was refuted in research by Reuer and Leiblein. 

However, certain joint ventures, including those in the oil and gas sector, are "unincorporated" joint ventures that mimic a corporate organization. When two or more people work together temporarily to create a partnership for the purpose of carrying out a specific project, that partnership may also be referred to as a joint venture, with the parties involved being referred to as "co-venturers."

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Indirect labor cost include administrative assistant salary. (second option)

Indirect labor cost is the cost of labor employed t that is not directly involved in the production of goods or the delivery of services.

Indirect labor cost is the wages or salary that is paid to employees whose duties enable other employees to produce goods and render services. An example of such employees are the administrative staff. Thus, the wages paid to administrative staff would constitute indirect labor cost.

In contrast, direct labor cost is the wages paid to labor that is directly involved in the production of goods or providing of services. e.g. factory security guard wages.

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Rise in the rate of inflation would lead to higher bond yields.

So, option iv) higher bond yields is the correct answer. Price increases, or inflation, can be thought of as the gradual loss of purchasing power. The average price increase of a selection of products and services over time can serve as a proxy for the rate at which buying power declines. A unit of currency effectively buys less as a result of the increase in pricing, which is sometimes stated as a percentage. Deflation, which happens when prices fall and buying power rises, can be compared to inflation. The objective of measuring inflation is to determine the overall effect of changes in price for a variety of goods and services.

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Limited Liability is the benefit conferred by the corporate form of organizations in which an investor's personal responsibility for the debt of the business is limited to the amount the investor has invested in the firm.

Limited liability enables people to escape personal responsibility for a corporate entity's losses, enabling risk-averse people to take on risks that they otherwise would not have. This means that in order to satisfy their debts, the creditors of an incorporated corporation cannot go after the owner's personal assets. Owners of a business that operates as a corporation are responsible for all debts and business losses up to the amount they invested in the corporation.

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A decision to consume more of one good necessarily involves a decision to consume less of another good. the benefits of the highest-valued good foregone represent Opportunity Cost.

Opportunity cost is the benefit lost when one option is chosen over another. The idea is helpful just as a suggestion to look at all sensible options prior to going with a choice.

The term is generally applied to the choice to exhaust supports now, as opposed to money management the assets until a later date. Models are: Take some time off now, or set aside the cash and put it in a house.

Set off for college currently, in order to create an enormous return from the professional education quite a long while later on. Pay down obligation now, or utilize the cash to purchase new resources that could be utilized to create extra benefits.

Therefore It is not difficult to erroneously incorporate or prohibit costs in an opportunity cost examination.

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Analysis of variance is a methodology for drawing conclusions about the equality of means of multiple populations.

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The Transaction would be recorded as follows

Rules of Recording a Transaction.

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The  three parts of the external environment affect amazon's competitive actions and responses are:

A competitive action can be described as the strategic or tactical action  which is been used by a firm  to build or defend its competitive advantages  so as to be able to improve its market position.

It should be noted that in doing this the external environment must be taken into consideration, and this external components are been listed above.

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Choosing to work an extra hour of overtime is considered an example of thinking at the margin.

Thinking at the margin refers to thinking about the next step forward. Here margin implies additional. So this is derived when something extra is consumed or produced. Thinking at the margin is also key in deciding the optimal amount of something to buy or an activity to engage in.

Suppose when a person chooses to work an extra hour of overtime this becomes an example of thinking at the margin. So when a person starts thinking on the margin, they notice that, for many decisions the margin is more important than the average.

Hence, option A is correct.

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If 400,000 people each receive an average refund of $2,300, based on an interest rate of 4 %. An interest rate is a fee that a lender charges to a borrower; it is expressed as a percentage of the principal, or the loaned amount.

Interest is essentially a charge made to the borrower for using a resource. Money, goods, vehicles, and real estate are all examples of lent assets. There are possibilities to  consider higher interest rates as the "cost of money" because they make borrowing the same amount of money even more expensive.

Therefore, interest rates are a component of the majority of loan and borrowing agreements. People take out loans to pay for college tuition, start businesses, finance initiatives, and buy homes.

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Average 60 is an expression that is true if and only if the value of the given double average variable is less than 60.0.

The variable cost per unit is referred to as the average variable cost in economics. By dividing the overall variable cost by the output, one may calculate the average variable cost. The enterprises use the average variable cost to decide when to halt short-term manufacturing.

What's the average variable cost calculation formula?

To find the average variable cost, divide the total variable cost (VC) by the output (Q). In light of this, we can now define the short-run average variable cost in another way. AVC is equivalent to ATC less AFC.

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Top; First-line; Middle Managers

Airbus’ decision to compete head-to-head with Boeing by developing the a330 and a340 was made by TOP managers.  FIRST-LINE managers then executed these plans by producing the aircraft on the factory floor. These production managers were supervised by MIDDLE managers.

TOP MANAGERS: The entire organization must be under the authority and supervision of top-level management.

MIDDLE MANAGERS: Middle-level managers are in charge of carrying out organizational plans that adhere to corporate policies. They serve as a link between top-level and lower-level management.

FIRST-LINE MANAGERS: A manager who works closely with people at the lowest level of an organization.

Top; First-line; Middle Managers

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Answer:

Gaining experience

Explanation:

The preparation of the financial statements of Stark Company is as follows:

1) Stark Company

For the year ended December 31

Services revenue                     $20,000

Interest expense              500

Wages expense            7,500

Depreciation expense 2,000

Insurance expense       1,800

Utilities expense           1,300

Supplies expense          200   $13,300

Net income                                $6,700

2) Stark Company

For the year ended December 31

Stark, Capital         $24,800

Stark, Withdrawals   (3,000)

Net Income               6,700

Stark, Capital       $28,500

3) Stark Company

At December 31

Assets

Cash                                                     $10,000

Accounts receivable                              4,000

Supplies                                                     800

Prepaid insurance                                 2,500

Buildings                             40,000

Accumulated depreciation 15,000 $25,000

Total assets                                      $42,300

Liabilities and Equity:

Accounts payable                              $1,500

Wages payable                                       400

Unearned revenue                                 800

Interest payable                                      100

Total current liabilities                     $2,800

Notes payable                               $ 11,000

Total liabilities                                $13,800

Stark, Capital                               $28,500

Total liabilities and Capital        $42,300

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Accounts payable 1,500

Wages payable 400

Unearned revenue 800

Interest payable  100

Notes payable $ 11,000

Stark, Capital 24,800

Stark, Withdrawals  3,000

Cash 10,000

Accounts receivable  4,000

Supplies 800

Prepaid insurance 2,500

Buildings  40,000

Accumulated depreciation-Buildings $ 15,000

Services revenue  20,000

Interest expense 500

Wages expense  7,500

Depreciation expense-Buildings 2,000

Insurance expense 1,800

Utilities expense  1,300

Supplies expense 200

The challenges that warehouse managers face when the unemployment rate is low is to reduce the supply of labor available to fill the job openings.

When there is an increase in the unemployment rate, there can be significant impacts on the business, such as a reduction in the purchasing power of consumers and, consequently, a lower turnover of stock.

It is essential that there is an active management of talent in the organization, that is, managers must seek to reduce employee turnover by improving working conditions and benefits, positively altering the employee's perception, which increases the sense of appreciation of the your job.

Therefore, there are necessary strategies that must be developed to reduce the risks associated with high or low unemployment rates, so that these situations do not significantly impact the business and put an organization's operations at risk.

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Cash and other assets that are expected to be converted to cash or sold or used up within one year or less through the normal operations of the business are called current assets.

Current assets refers to the cash and other assets that are expected to be converted to cash within a year.

Current assets are any assets that can reasonably be expected to  be converted into cash within one year. It may include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities etc.

Basically, current assets have short-term nature and can be transformed into cash form within a span of a year or less.

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Answer:

F

Explanation:

Part A: Maci had 2 appointments

Part B: Logan had 3 appointments

Part A:

Total income = $170

Charge per appointment  = $60

Tips earned  = $50

Let the number of appointments be x:

Equation: -

170 = 60x + 50

170-50=60x

x=2

So, she Maci made 2 appointments

Part B:

Profit earned = $235

Charge per appointment = $75

Tips earned = $40

Rent paid per appointment = $10

Let the number of appointments be x

Equation:

235 = (75-10)x + 40

235-40 = 65x

195 = 65x

x = 3

So, Logan had 3 appointments

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Lower middle-income economies are those that had a GNI per capita between $1,086 and $4,255; upper middle-income economies are those that had a GNI per capita between $4,256 and $13,205; and high-income economies are those that had a GNI per capita of $13,205 or more.

What is Gross National Income?

The definition of gross national income (GNI) is gross domestic product + net foreign receipts from employee remuneration, property income, and net taxes less production subsidies. Employee salaries that are payable from abroad are those that are earned by locals who essentially reside within the economic territory but work abroad (this frequently occurs in border regions) or by people who temporarily live and work abroad (seasonal workers), but whose primary economic interest is still in their home country. Interest, dividends, and all (or a portion of) the retained earnings of foreign companies that are wholly (or partially) owned by resident companies are all included in property income that is due from or payable to foreign parties (and vice versa).

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Insurance value  replace the cost of improvement but does not include the land value because insurance is done only for the building not for the land as it is considered that land is not destructible within the realm of real estate appraisal. Therefore land value is not insured.

Insurance is defined as risk management against the uncertain loss. It hedges the risk against the uncertain loss, damage, illness.

It protects from the financial loss as it is the arrangement in which company provides protection against specified loss but in return they charges the premium installment to be paid.

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When two duopolists successfully enforce a cartel agreement to raise their rates, both make more money than they would have otherwise.

A cartel is a collection of producers who cooperate to safeguard their interests. When a few significant producers choose to work together on some elements of their market, cartels are formed. Once established, cartels can set prices for its members to prevent price competition.

Oligopolistic businesses join cartels to gain more market sway, and the group's members collaborate to decide on the volume of output and/or price each member will produce. The cartel members might act like monopolists because of their cooperation.

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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

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 effects are:

1) There will be a $24 million boost in GDP and consumption.

2) Net exports will decrease by $29 000 while consumption rises by $29 000. GDP stays the same.

3) The GDP and investment will both rise by $12.43 million.

2) Net exports will fall by $23.12 million, while investment rises by that same amount. GDP stays the same.

Complete Question: National income and product data are generally revised. What effects would the following revisions have on consumption, investment, government purchases, net exports, and GDP?

1.) It is discovered that consumers bought $24 million more laptops than previously thought. The computers were manufactured in California.

2.) It is discovered that consumers bought $29 thousand more laptops than previously thought. The computers were manufactured in China.

3.) It is discovered that businesses bought $12.43 million more laptops than previously thought. The computers were manufactured in California.

4.) It is discovered that businesses bought $23.12 million in more laptops than previously thought. The computers were manufactured in China.

National Income: The whole of a country's current production income, comprising interest, rental income, business after-tax profits, and employee remuneration, is known as National Income.

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An organization looking for general agreement on ethical practices might: establish an ethical code of conduct.

Ethical code of conduct can be defined as a set of guidelines, policy, rules and regulation that a person is expected to follow and abide by in an organization.

This code of conduct enables us to know the organization norms and values as well  what is right and what is wrong which in turn means that it enables us to know the right things to do and thing to to avoid.

The code of conduct encourage ethical act which is to be honest and to have integrity among others and as well discourage unethical behavior in an organization which is why most organization has ethical code of conduct that enables their employee or workers to known the ethical ways they should behave.

Therefore an organization looking for general agreement on ethical practices might: establish an ethical code of conduct.

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Based on the total surplus with no government intervention in the market and consumer surplus, the producer surplus is $300.

The producer surplus can be found by using the total surplus formula:
Total surplus = Consumer surplus + Producer surplus

We can then solve for producer surplus as:

500 = 200 + Producer Surplus

Producer Surplus = 500 - 200

Producer Surplus = $300

In conclusion, the Producer Surplus is $300.

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mutual fire insurance is a not-for-profit system in which all policyholders are members of the company; when premiums exceed losses, surplus funds are distributed among the members.

What exactly do you mean by "surplus funds"?

Surplus funds are funds that belong to or are controlled by the local unit and are available for investment because they are not required by law or by an agreement with bondholders to be segregated and invested in a specific manner. Surplus funds are the excess of cash and other recognised assets expected to be resolved into cash or its equivalent in the normal course of events and with reasonable certainty at any given day over liabilities and necessary reserves at the same date.

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Accruing a receivable increases accounts receivable on the balance sheet and increases revenues on the income statement.

In monetary accounting, a balance sheet is a summary of the financial balances of a person or business enterprise, whether or not or not it's a sole proprietorship, a commercial enterprise partnership, a business enterprise, a non-public restrained employer, or a different enterprise inclusive of a central authority or now not-for-income entity. belongings, liabilities, and possession fairness are indexed as of a specific date, consisting of the end of its monetary 12 months.

A balance sheet is frequently described as a "photo of an employer's monetary situation". Of the four basic economic statements, the stability sheet is the most effective declaration that applies to an unmarried factor in the time of a commercial enterprise calendar of 12 months.

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The return on assets for your small business was 11.2% last year and 12.6% this year. your return on assets: improved.

Return on assets can be defined as a percentage or  ratio that help to show how well a company is doing as to whether they are making profit or making loss from their assets.

Return on assets calculated using this formula

Return on assets =Net income/Total assets

Since the return on assets for the business was  previously 11.2% in which this year it was 12.6% this means that the business is profitable and has improved due to the increase in percentage which is 1.4% (12.6%-11.2%).

Therefore the return on assets for your small business was 11.2% last year and 12.6% this year. your return on assets: improved.

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In post-trade equilibrium with Pc = Pw = $20, the wage of workers in relative to the wage of workers in will be equal to 2.5 .

What is post-trade equilibrium ?

When the production and consumption sectors of a closed economy are both in balance, the general equilibrium is determined. In the consumer sector, equilibrium occurs when the marginal rate of substitution of one item, say X, for another commodity, say Y, equals the price ratio of those two commodities (MRSxy = Px/Py). When the marginal rate of transformation between these two commodities equals their price ratio (MRTxy = Px/Py), the production sector can reach equilibrium.

MRSXy = MRTXy = PXPy

The consumption and production equilibrium conditions are not accidental in an open economic system, but international trade causes changes between production and demand in each trading nation. The value of exports becomes exactly equal to the value of imports in the final equilibrium problem.

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Complete Question :

In post-trade equilibrium with Pc = Pw = $20, the wage of workers in relative to the wage of workers in will be equal to?