at the beginning of april, warren corporation's assets totaled $\$ 240,000$ and liabilities totaled $\$ 60,000$. during april the following summarized transactions occurred:additional shares of stock were sold for $\$ 20,000$ cash.a building costing $\$ 95,000$ was purchased using $\$ 10,000$ cash and by signing an $\$ 85,000$ long-term note payable. short-term investments costing $\$ 9,000$ were purchased using cash. $\$ 10,000$ was paid to an employee as a loan; the employee signed a six-month note in exchange for the loan. how much are warren's total assets at the end of april? (a) usd 335,000 (b) usd 249,000 (c) usd 345,000 (d) usd 250,000
Answers
Warren Corporation's assets at the end of April are $345,000, obtained by adding the starting assets, plus the increase in equity from additional stock, plus the purchase of a building and short-term investments. the correct option is C).
To determine Warren Corporation's total assets at the end of April, we need to account for the various transactions that occurred during the month.
Starting assets = $ 240,000
Starting liabilities = $ 60,000
Additional shares of stock were sold for $ 20,000 cash.
This transaction increases both assets and equity by $ 20,000.
Assets = $ 240,000 + $ 20,000 = $ 260,000
Liabilities = $ 60,000
Equity = $ 200,000
A building costing $ 95,000 was purchased using $ 10,000 cash and by signing an $ 85,000 long-term note payable.
This transaction increases assets and liabilities by $ 95,000 and $ 85,000, respectively.
Assets = $ 260,000 + $ 95,000 = $ 355,000
Liabilities = $ 60,000 + $ 85,000 = $ 145,000
Equity = $210,000
Short-term investments costing $9,000 were purchased using cash.
This transaction increases assets by $$ 9,000.
Assets = $355,000 + $ 9,000 = $ 364,000
Liabilities = $145,000
Equity = $219,000
$ 10,000 was paid to an employee as a loan; the employee signed a six-month note in exchange for the loan.
This transaction does not affect assets, liabilities, or equity. It is a loan receivable that will be recorded as an asset when the payment is received.
Therefore, the total assets at the end of April are $364,000.
The correct Answer is (c) $ 345,000.
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Related Questions
The building blocks for a sales database in this graphic consist of four tables of different information that is all related: salespeople, department, product, and product quantity. Each table’s non-key attributes are fully functionally dependent on that table’s primary key alone. Which normal form is this data in?
Unstructured
First
Second
Third
Answers
The building blocks for a sales database in this graphic consist of four tables of different information that are all related: salespeople, department, product, and product quantity. So, here, the correct option is the third normal form, which is the last option.
The Third Normal Form (3NF) states that all non-key attributes in a table must be functionally dependent on the primary key and nothing but the primary key. In other words, no transitive dependencies should exist. Transitive dependencies occur when an attribute depends on another attribute that is not part of the primary key. In this case, each table's non-key attributes are fully functionally dependent on that table's primary key alone.
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Which of the following has not been a model for schooling in the United States?
O A religious school, where students are taught based on religious values and materials.
O A public school, where students of all backgrounds and histories have access to a free education.
O A dame school, where children living near one another gather at a neighbor's home for learning.
O A walkabout," where students are sent into a wilderness area to develop survival skills.
Answers
Answer:
A. Religious school, where students are taught based on religious values and materials.
Explanation:
Which of the following statements regarding revenues and expenses is true?
A. Both revenues and expenses typically have credit balances.
B. Revenues and expenses are considered assets and liabilities, respectively.
C. Revenue is the same as cash.
D. Expenses decrease the amount of stockholders' equity.
Answers
C. Revenue is the same as cash. Choose all of the following statements about revenues and costs that are accurate. The quantity of goods or services given to a customer multiplied by the price equals revenue.
Expenses are the business-related costs required to generate revenues. On the income statement, expenses and revenues are detailed. The quantity of goods or services given to a customer multiplied by the price equals revenue. Expenses are the business-related costs required to generate revenues. On the income statement, expenses and revenues are detailed. - Even if payment is not received until a later accounting period, revenues are recorded as soon as the goods or services are rendered.
C) There are three parties involved in each receivable transaction. D) Receivables develop when a company makes loans. Which of the following is true?
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what‘s the first thing you need to have so you can develop power over purchase?
Answers
To develop power over purchase, you need to have a clear understanding of your personal finances and the concept of opportunity cost.
Once you have a clear picture of your financial situation, you can start to make informed decisions about your purchases.
One important concept to understand when it comes to purchasing power is the idea of opportunity cost. Opportunity cost is the value of the next best alternative that you give up when you make a purchase.
To calculate opportunity cost in mathematical terms, you can use the formula:
Opportunity cost = Value of the next best alternative - Value of chosen option
In this case, the opportunity cost of buying the video game is negative, which means that going to the movie is the better choice in terms of maximizing your overall satisfaction.
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Annoying isn't it. When people purposely answer your question when they know it's completely useless. Kinda like how I specifically told people NOT to answer the questions I asked because I was doing an experiment, and every time I did that, two people purposely answered my question when they were told not to.
People are d. i. c. k. s.
Answers
Answer:
wow
Explanation:
I'm gonna type a random answer
Managing negative feelings is__
a. A process
b. A hierarchy
c. An emotion
d. A deadline
Answers
Answer:
an emotion
Explanation:
process is the lead
hierarchy is increase
deadline is the date
Managing negative feelings is a process.The correct option is a.
It takes a variety of coping mechanisms and individualized approaches to effectively manage unpleasant emotions. It entails identifying and expressing negative emotions, comprehending their underlying causes, and implementing constructive coping strategies. This procedure might involve introspection, asking for help from others using relaxation techniques, exercising or getting professional assistance.
Individuals can improve their emotional resiliency, mental health and overall life satisfaction by actively addressing negative emotions. It is critical to understand that controlling unpleasant emotions is a continuous and dynamic process because feelings can change depending on the situation and one's experiences. Greater emotional intelligence and improved mental health can result from learning effective emotional management techniques.
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Examples of services delivered through the __________ include database on demand, e-mail on demand, and storage on demand.
Answers
Examples of services delivered through the private cloud include database on demand, e-mail on demand, and storage on demand.
What is services?
The term services refer to the intangible form. The services are the exchange of the money. The expert person are the provided the skills for the another person as the main motive to earn money.
The services are the delivered for the private cloud for the used to the application of the services, web application backends, big data, virtual desktop infrastructure, websites, database on demand, and storage on demand.
As a result, the private cloud are the provided the services are e-mail, storage, database on demand.
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Help please!!
Andrew is a software professional. He wants to join a group of software professionals on a networking site to remain updated on latest software trends. Which networking site should Andrew join?
Answers
Answer:
Explanation:
it specializes in that department
Which statements describe a Treble Clef correctly? Pick Two
Treble Clef is your right hand.
Treble Clef is your left hand.
Treble Clef sounds higher.
Treble Clef sounds lower.
Answers
Answer: c and a
Explanation:
What is the goal of networking? (5 points)
To conduct research that can help you pass certification tests
To discover business ideas you can claim as your own
To learn and expand one's business connections
To socialize and raise money for local charities
Answers
Answer:
The correct answer is option 3, To learn and expand one's business connections.
Explanation:
The primary goals of networking are to gain valuable business connections, learn of potential business or career opportunities, and share knowledge & ideas, among others. When executed correctly, this process is mutually beneficial.
Which of the following is NOT true about emergency funds?
a,They can keep you from borrowing money from friends and family.
b,They help remove the worry about expenses not in the budget.
c,They are used for anything listed on the budget.
d,They help you prepare for unexpected expenses.
Answers
Answer:
The answer is "They are used for anything listed on the budget."
The option that is NOT true about emergency funds is: c. They are used for anything listed on the budget.
What is emergency funds?Emergency funds are usually not used for things that are planned and included in the budget. Instead, emergency funds are money saved specifically for unexpected expenses that you didn't plan for in your usual budget.
The reason for having an emergency fund is to have money saved for unexpected things that might happen, like when someone gets hurt and needs to go to the hospital or when a car or home needs fixing. It can also help if someone loses their job or if something else happens that they didn't expect.
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a flexible budget performance report indicates a sales variance of $200 unfavorable. the variance was likely caused by: multiple choice question. selling units for less than the budgeted price selling more units than budgeted selling units for more than the budgeted price
Answers
The variance was likely caused by selling units for less than the budgeted price.
How do you calculate a flexible budget's variance?For instance, a flexible budget model is created with the expectation that the cost per unit will be $100. 800 units were sold in the most recent month, with a $102 average selling price per unit. By multiplying 800 units by $2 per unit, the favorable flexible budget variance for revenue equals $1,600.
What is the difference between the actual sales results and the flexible budget?A flexible budget variation is a calculated discrepancy between the budget that was anticipated and the outcomes. In the aforementioned illustration, the corporation has a goal production capacity of 85%. The estimated or anticipated 212,500 unit sales volume results in a $740,625 profit.
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The new boss gave workers better family leave, vacation, and sick leave policies. She is probably:
A. task-oriented.
B. narcissistic.
C. toxic.
D. relationship-oriented.
Answers
Answer:
Relation Oriented? its not A, B, or C...
Explanation:
Answer:
D. Relationship Oriented!
Explanation:
I just took the test!
Which job role involves designing user interfaces to carry out difficult tasks?
A.
technical support specialist
B.
network administrator
C.
network engineer
D.
software auditor
E.
software engineer
Answers
Answer:
E. software engineer
Explanation:
The job role that involves designing user interfaces to carry out difficult tasks would be software engineer.
A software engineer by definition refers to someone that applies engineering and computer science principle to develop workable software solutions for different problems.
User interfaces generally represents a medium through which users and computer interact via the use of input devices and software.
The correct option is E.
You are managing a project to build an urgent care clinic. Your company is expanding and has constructed 25 clinics so far. Which estimating technique makes the most sense to use in this situation?
Answers
Answer:
Delphi technique
Explanation:
The Delphi model is a technique of group communication in which a panel of experts reach consensus on a set of questions and discussions. This is used to predict or to forecast. First, choose an effective facilitator and experts with relevant expertise, and ensure that the issue is well established after that they reach with a decision
Therefore in the given case, the delphi technique is used
Jason is an ancient history lover. He wants to share his knowledge on social media, but he does not think that video platform will work well since he cannot afford to travel to many of the places that have the ruins he wants to share information about. What would be the best social media platform to provide information show pictures of these places?
Answers
The best social media platform where Jason can share his knowledge and provide information and show pictures of these places is where common people and his friends near and all over can connect with him and can be friends with him on that networking site.
What is social media?Social media refers to the means of interactions among people in which they create, share, and/or exchange information and ideas in virtual communities and networks. We offer an array of tools, including one-on-one consults with schools, departments and offices looking to form or maintain an existing social media presence to discuss social media goals and strategy, as well as offer insights and ideas.
Before creating any social media account, we must submit the Account Request Form.
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loaned $45,000 to cashiers of the company and received back one-year, 8 percent notes
Answers
When you loaned $45,000 to the cashiers of the company and received back one-year, 8 percent notes.
it means that the cashiers borrowed $45,000 from you and issued a promissory note to acknowledge their debt. The note has a maturity period of one year and carries an interest rate of 8 percent.
As the lender, you provided a loan of $45,000 to the cashiers, and in return, you received the promissory note, which serves as evidence of their obligation to repay the loan amount along with interest. The 8 percent interest rate indicates that the cashiers are required to pay interest on the loan at a rate of 8 percent per year.
Typically, when lending money through promissory notes, the borrower makes periodic interest payments throughout the loan term and repays the principal (loan amount) at the end of the term. In this case, since the note has a one-year maturity, the cashiers would make interest payments over the course of the year and repay the full $45,000 at the end of the year.
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1. Smart technologies may cause consumers to forfeit their privacy rights in legal proceedings. True False
2. As we incorporate more and more technology into myriad aspects of daily life , so too are we presented with a whole new set of legal questions that must be answered. True False
Answers
Smart technologies may cause consumers to forfeit their privacy rights in legal proceedings. True Smart technologies such as the Internet of Things (IoT), big data analytics, and artificial intelligence are increasingly penetrating almost every aspect of our lives.
With these advancements come legal concerns about consumer privacy rights as these technologies collect and process massive amounts of personal data. Indeed, these technologies, which are characterized by constant data collection, present new and complex legal challenges, particularly concerning privacy rights and personal data protection. As we incorporate more and more technology into myriad aspects of daily life, so too are we presented with a whole new set of legal questions that must be answered.
The incorporation of more technology into daily life has resulted in the need for answering new legal questions. Emerging legal issues are related to data privacy, cybersecurity, intellectual property, and online harassment, among others. Technological advancements have altered and, in some instances, broken traditional legal frameworks. Legal practitioners need to keep up with the changes in technology, learn how technology has influenced legal practices, and provide solutions that balance innovation with responsibility.
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Choose the term that best fits the situation being described. What conflict management norms encourage competition? A. Active conflict management norms B. Disagreeable conflict management norms C. Agreeable conflict management norms
Answers
Active conflict management norms conflict management norms encourage competition. The answer is OPTION A
In the competitive style, one dominant individual tries to advance their interests at the expense of all other parties. In a power-driven state, the opposing party pushes their viewpoint and typically makes a choice quickly and without much deliberation.
Conflicts involving competing styles tend to be more forceful and less cooperative. When you utilize the competitive conflict style at work, you are adamant about getting your point of view heard, really believe it to be true, and are unwilling to compromise. Competition is a conflict where no physical violence is used for the control of resources or advantages wanted by others. As a result, controlled competition is a form of amicable conflict. The answer is OPTION A
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Hockley Brewing has produced a new craft lager beer that will be branded Hockley Classic Lager. The market for craft beer is about $20 million retail per year and the average retail price across all craft beer producers is $2. 50. The following information applies to Hockley’s new craft lager beer.
Factory production costs $1. 05 / can (Variable Cost)
Beer ingredients $0. 35 / can (Variable Cost)
Packaging $0. 20 / can (Variable Cost)
Advertising and promotion $60,000 (Fixed Cost)
Channel listing fees $30,000 (Fixed Cost)
Hockley’s wholesale price to retailers $2. 40 / can (Variable Cost)
(Hockley’s) manufacturer’s suggested retail price $2. 55 / can (Variable Cost)
a. What is Hockley’s unit contribution (measured in $ per can) and contribution margin (measured in percentage)?
b. What is the break-even point in cans? in dollars?
c. What is the necessary sales volume in cans to achieve a $150,000 (target) profit?
d. What will Hockley’s net profit be if 100,000 cans of the new lager are sold?
e. What will Hockley’s market share of craft beer be if they sell 100,000 cans?
f. Their largest competitor is Mill Street Brewery whose Original Organic Lager has 2. 5% market share of the craft beer market. Given Hockley’s market share calculated in part (e), what will Hockley’s relative market share (RMS) be for their Classic Lager?
g. The craft beer market is growing at 10% annually, higher than any other type of beer. With the RMS for Hockley Classic Lager calculated in part
(f), at the end of their first year, where in Hockley’s portfolio will Classic Lager be positioned and what recommendation would follow?
h. Calculate the price elasticity of demand if they raise the MSRP from $2. 55 to $2. 75 and demand falls from 100,000 cans to 95,000 cans. Is demand for this product price elastic or inelastic?
Answers
Hockley's unit contribution is $0.50 per can with a contribution margin of 19.6%. The break-even point is 180,000 cans or $432,000, and a sales volume of 480,000 cans is needed to achieve a target profit of $150,000.
a. Hockley's unit contribution is $0.50 per can ($2.55 - $2.05), and the contribution margin is 19.6% (($0.50 / $2.55) x 100).
b. The break-even point in cans can be calculated by dividing the total fixed costs ($60,000 + $30,000) by the contribution per can ($0.50). The break-even point is 180,000 cans. In dollars, the break-even point is $432,000 (180,000 cans x $2.40).
c. To achieve a target profit of $150,000, we need to calculate the necessary sales volume in cans. The formula is (Total Fixed Costs + Target Profit) / Contribution per can. Using the given numbers, the necessary sales volume is 480,000 cans.
d. If 100,000 cans of the new lager are sold, the net profit can be calculated as (Unit contribution x Sales volume) - Total Fixed Costs. With the given numbers, the net profit would be $10,000.
e. If Hockley sells 100,000 cans, their market share of craft beer can be calculated as (Sales volume / Total market size) x 100%. With a $20 million market size, their market share would be 0.5%.
f. Hockley's relative market share (RMS) for their Classic Lager can be calculated by dividing their market share by Mill Street Brewery's market share and multiplying by 100. With Hockley's market share of 0.5% and Mill Street Brewery's market share of 2.5%, Hockley's RMS would be 20%.
g. With an RMS of 20% for their Classic Lager, Hockley would be positioned as a significant player in the craft beer market. The recommendation would be to continue investing in and promoting the Classic Lager to further increase its market share.
h. The price elasticity of demand can be calculated using the formula: Percentage change in quantity demanded / Percentage change in price. In this case, the percentage change in quantity demanded is ((100,000 - 95,000) / 100,000) x 100% = 5%, and the percentage change in price is (($2.75 - $2.55) / $2.55) x 100% = 7.8%. Therefore, the price elasticity of demand is 0.64 (5% / 7.8%). With a price elasticity of less than 1, demand for this product is price inelastic, meaning that a price increase led to a proportionally smaller decrease in quantity demanded.
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Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The following transactions were selected from among those completed by NGS in August.
Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $420 and the merchandise basket normally sells for $180. Together, the bundle was sold to Val Amy for cash at a selling price of $540 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost NGS $105.
Aug. 3 Sold 5 identical items of merchandise to Cosmetics R Us on account at a selling price of $550 (total); terms n/30. The goods cost NGS $450.
Aug. 6 Cosmetics R Us returned one of the five items purchased on August 3. The item could still be sold by NGS in the future and credit was given to the customer.
Aug. 10 Val Amy used one of the three spa treatments she had purchased as part of the bundle sold to her on August 2.
Aug. 20 Sold two at-home spa kits to Meghan Witzel for $350 cash. The goods cost NGS $121.
Aug. 22 Cosmetics R Us paid its remaining account balance in full.
Required:
a. Prepare all journal enteries.
b. Calculate Sales Revenue and Cost of Goods Sold.
c. Calculate Gross Profit Percentage.
Answers
In August, Nicole's Getaway Spa (NGS) had several transactions involving the sale of merchandise. We are required to prepare the journal entries, calculate the sales revenue and cost of goods sold, and determine the gross profit percentage.
(a) Journal Entries:
Aug. 2:
Cash 540
Sales Revenue (Spa service) 420
Sales Revenue (Merchandise) 120
Cost of Goods Sold 105
Inventory 105
Aug. 3:
Accounts Receivable (Cosmetics R Us) 550
Sales Revenue 550
Cost of Goods Sold 450
Inventory 450
Aug. 6:
Accounts Receivable (Cosmetics R Us) 110
Sales Returns and Allowances 110
Inventory 110
Cost of Goods Sold 110
Aug. 10:
No journal entry is required as Val Amy used one of the three spa treatments purchased.
Aug. 20:
Cash 350
Sales Revenue 350
Cost of Goods Sold 121
Inventory 121
Aug. 22:
Accounts Receivable (Cosmetics R Us) 440
Cash 440
(b) Sales Revenue and Cost of Goods Sold:
Sales Revenue: $420 + $120 + $550 + $350 = $1,440
Cost of Goods Sold: $105 + $450 + $110 + $121 = $786
(c) Gross Profit Percentage:
Gross Profit Percentage = (Sales Revenue - Cost of Goods Sold) / Sales Revenue * 100
= ($1,440 - $786) / $1,440 * 100
= 45.42%
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In a bad economical crisis what are ways to overcome
Answers
Answer:
figure out different ways to invest and save your money maybe buy cheaper but good quality products
Explanation:
cause i said so
Answer:
Maximize Your Liquid Savings. ...
Make a Budget. ...
Prepare to Minimize Your Monthly Bills. ...
Closely Manage Your Bills. ...
Take Stock of Your Non-Cash Assets and Maximize Their Value. ...
Pay Down Your Credit Card Debt.
Explanation:
Because costing decisions are often made before costs are incurred, managers rely on ______
Answers
Because costing decisions are often made before costs are incurred, managers rely on Estimated costs.
An estimated cost is an approximate calculation of what it will cost to produce goods or complete a project in the future. Both fixed and variable costs for labor, supplies and capital are included.
By making it easier to understand long-term costs, feasibility, returns, and risk, calculating the estimated cost supports project management and capital planning. It serves as a crucial evaluation tool for software and project-based organizations before offering price quotes to customers in the construction industry.
Cost estimating enables you to accomplish your goals within the budgetary restrictions set by executives and stakeholders. When establishing a project's parameters, precise project cost estimating must come first because it is one of the characteristics of successful progress
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How did Coca-Cola materialize into an American value? How did this help and hurt Coca-Cola? (and, in some ways, America itself?)
Answers
Answer: Brilliant marketing and commercials
Explanation:
One of the top advantage any firm or organization is the ability for it to be consistent with it's advertisement and marketing policy in a creative manner and to deliver when people purchase it's products. This is how Coca cola became famous within the American industry, it grew by virtue of it's brilliance in marketing, excellent and always creative commercials. These all helped pushed Coca cola into wider region of the American market and into the world.
A sales representative sells products from two competing companies without disclosing to either company. Which agent duty owed to a principal applies to this situation?.
Answers
A sales representative sells products from two competing companies without disclosing to either company. The correct answer is a conflict of interest.
A conflict of interest happens once somebody's or entity's unconditional interests raise a matter of whether or not their actions, judgment, and/or decision-making. A conflict of interest exists once 2 or additional contradictory interests relate to employee activity by a private or an establishment.
A conflict of interest arises once what's in a person's best interest isn't in another person's or organization's best interest.
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Johnny is a sophomore in college and has & 1.5 cumulative grade point average (OPA). Johnny's cumulative GPA will be better next semester if he performs better than he did last semester (iilperforms better than his cumulative GPA (lles an average performance. Select one: a. (i) onh b. (ai) only c. (i) and (i) d. (i) and ii)
Answers
Johnny is a sophomore in college and has a cumulative grade point average of 1.5. Johnny's cumulative grade point average will be better next semester if his grades are better than his cumulative grade point average.
Johnny's grades can only get worse if he's worse than his cumulative grade point average and lower than he's ever been. The last option, Johnny's performance being worse than last semester does not necessarily affect his grade point average.
Cumulative GPA is the overall GPA that Johnny has received since he started school.
A slightly lower score than his final semester doesn't necessarily mean his cumulative GPA will decrease, as his final semester may have been one of his best semesters and perhaps even better. So option B is correct.
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can anyone please help me please
Answers
Answer:
1. extracurricular
2. cocurricular
3. curricular
4. curricular
5. cocurricular
Explanation:
1. Daniel doing community service by cleaning up outdoor trails is an extracurricular activity because it doesn’t have nothing to do with his academics/school.
2. Debra participating in a hospital program for nursing students is cocurricular because she is practicing techniques she learned in her nursing class.
3. Rhett taking a foreign language class at his middle school is curricular because this is a class Rhett takes at school.
4. You are correct. Ernestina taking a photography class in school is curricular because this class takes place at her high school.
5. Brant joining a student organization for future teachers is cocurricular because he is studying to be a teacher.
Which of the following is NOT example of Capital used to produce goods?
Answers
Answer:
Some examples of capital used to produce goods are machinery, human workers, equipment, basically anything that is used by a factory in the production process. You didnt list any options so I can't tell you which one isn't, but I hope this helps!
Explanation:
The United States enjoys a free market economy in which _____. most economic decisions are made by the central government the states have all of the authority to make economic decisions regarding businesses that do not operate across state lines most economic decisions are allowed to occur naturally as a result of market changes made by government intervention none of the above all of the above
Answers
Answer:
none of the above
Explanation:
I think its none of the above because in free economy the businesses basically do whatever they want and government/state has little to no interference.