In both the IS-LM model and the liquidity preference model, an increase in the velocity of money would have implications for the equilibrium levels of income/output and interest rates. Let's examine the effects in each model individually, accompanied by graphical explanations.
IS-LM Model:
The IS-LM model represents the relationship between the goods market (IS curve) and the money market (LM curve). An increase in the velocity of money affects the LM curve.
The LM curve represents combinations of income/output (Y-axis) and interest rates (X-axis) that maintain equilibrium in the money market. It is derived from the liquidity preference model.
The liquidity preference model asserts that the demand for money is a function of income and interest rates. An increase in the velocity of money implies that the same level of transactions can occur with fewer money balances held by individuals and firms.
Graphical representation:
When the velocity of money increases, it results in a rightward shift of the LM curve in the IS-LM model. This shift occurs because a higher velocity of money allows the same amount of transactions to be conducted with a smaller money supply, reducing the demand for money at any given level of income/output and interest rates.
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Propose a suitable measurement code for:
i. Measuring a warehouse for rental purposes (3marks).
ii. Measuring a residential unit for market value purposes
(3marks).
For measuring a warehouse for rental purposes, the suitable measurement code is the gross internal area (GIA). The GIA measures the total floor area inside the warehouse's walls. It includes all enclosed spaces, including lobbies, stairways, and storage areas.
The advantage of using the GIA is that it provides a comprehensive measurement that accounts for the entire space, which can be used to calculate rental costs.For measuring a residential unit for market value purposes, the suitable measurement code is the gross external area (GEA). The GEA is the measurement of the total floor area of the residential unit's external walls, including balconies and other external spaces. The GEA measurement is useful because it includes the full living space of the unit, including all internal rooms and external areas.
Additionally, the GEA is used as a standard measurement to compare market values of similar properties to determine a fair market price. This measurement is often used in real estate valuations. Therefore, the gross external area is the suitable measurement code for measuring a residential unit for market value purposes.
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What do you think would need to happen to change america’s view of credit cards?.
The rise in personal debt in US, which was once associated with having a poor moral character, got accepted as a regular part of daily life as the use of credit cards increased.
Despite the fact that credit cards were originally offered in the US in the 1950s, it wasn't until the 1980s that they were widely accepted as a form of payment. Credit cards had a significant impact on the expansion of the US economy by generating enormous profits for the financial sector and a positive rise in the retail sector. While they contributed to a long-lasting boom, they were also a contributing factor in the financial sector's problems during the 2008 credit crisis.
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Anheuser-Busch launched its "Responsibility Matters" campaign Multiple Choice to promote the health aspects of moderate beer consumption. as part of its ongoing awareness and education efforts to curb misuse of alcohol. to encourage recycling of both aluminum cans and glass bottles by ultimate consumers and suppliers. to educate employees about the importance of serving as role models by drinking responsibly themselves. to promote Anheuser-Busch as more socially responsible than Its competitors.
The correct answer is (b) to promote the health aspects of moderate beer consumption as part of its ongoing awareness and education efforts to curb the misuse of alcohol.
Anheuser-Busch's "Responsibility Matters" campaign was launched to promote the health benefits of moderate beer consumption, as well as to raise awareness about responsible drinking and to help prevent alcohol misuse.
The campaign included a range of initiatives, including public service announcements, educational materials, and partnerships with other organizations to promote responsible drinking.
Anheuser-Busch recognizes that while alcohol can be enjoyed in moderation, misuse can lead to serious health and social problems. As such, the company is committed to promoting responsible drinking and reducing alcohol-related harm.
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1 Protectionism can be defined by all except _______.
Increased subsidies for foreign firms
Increased tariffs for foreign exporters
Increased subsidies for domestic firms
2 Tariffs assessed according to a physical unit of measurement are known as _______.
Specific duties
Ad valorem duties
3 OPEC is an example of a(n) ______ of oil-producing nations.
cartel
cluster
compound
consolidation
4 Examples of non-tariff barriers to merchandise trade are all except _________.
Required percentages of foreign content material
Rigorous customs and product entry procedures
Detailed safety inspections
5 Securitization can involve all of the following except _______.
Covered bonds
Residential Mortgages
Student Loans
Taxi Medallions
1. Protectionism can be defined by all except _______.
Increased subsidies for foreign firms
The correct answer is "Increased subsidies for foreign firms." Protectionism refers to the economic policy of imposing restrictions on foreign trade to protect domestic industries. Increased subsidies for foreign firms would be contradictory to protectionism because it involves providing financial support to foreign firms, which promotes international trade rather than protecting domestic industries.
2. Tariffs assessed according to a physical unit of measurement are known as _______.
Specific duties
The correct answer is "Specific duties." Specific duties are tariffs that are assessed based on a fixed amount per physical unit of the imported goods. For example, a specific duty of $5 per kilogram of imported meat.
3. OPEC is an example of a(n) ______ of oil-producing nations.
Cartel
The correct answer is "Cartel." OPEC (Organization of the Petroleum Exporting Countries) is an example of a cartel. It is an intergovernmental organization consisting of oil-producing nations that aims to coordinate and stabilize oil prices and ensure a steady supply of petroleum to the global market.
4. Examples of non-tariff barriers to merchandise trade are all except _________.
Required percentages of foreign content material
The correct answer is "Required percentages of foreign content material." Required percentages of foreign content material would be considered a non-tariff barrier as it imposes restrictions on the composition of goods being imported. However, non-tariff barriers typically refer to measures other than tariffs that restrict trade, such as import quotas, licensing requirements, technical standards, and sanitary regulations.
5. Securitization can involve all of the following except _______.
Taxi Medallions
The correct answer is "Taxi Medallions." Securitization is the process of pooling and repackaging financial assets into tradable securities. It commonly involves assets such as residential mortgages, student loans, credit card receivables, and other types of loans. Taxi medallions, which are licenses required to operate taxis in some cities, are not typically involved in securitization.
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During the financial crisis it was proposed that firms be provided with a tax credit for investment projects. Such a tax credit would shift Group of answer choices both the demand for loanable funds and the supply of dollars in the market for foreign-currency exchange right. the demand for loanable funds right and shift the supply of dollars in the market for foreign-currency exchange left. the demand for loanable funds left and shift the supply of dollars in the market for foreign-currency exchange right. both the demand for loanable funds and the supply of dollars in the market for foreign-currency exchange left.
Answer:
I think it would be that the crisis is all about money.
Explanation: Because you need money to buy everything you need.
Which describes a situation of scarcity?
Answer:
Scarce natural resources make it more difficult for producers to keep up with demand.
Explanation:
pa brainlest na din po
Answer:
"Scarce natural resources make it more difficult for producers to keep up with demand"
ABSOLUTE SCARCITY EXAMPLES INCLUDE: ... Coal is used to create energy; the limited amount of this resource that can be mined is an example of scarcity. A day has an absolute scarcity of time, as you cannot add more than 24 hours to its supply. Those without access to clean water experience a scarcity of water
You are a recent college graduate who has just landed your first job. The company that hired you has
agreed to pay you $50,000 a year. It has been recommended that the value of your car(s) do not exceed 50% of your income. With this rule in mind what is the maximum value that your car(s) can be worth?
Answer:
$25,000
Explanation:
In the given case, the annual income that the new graduate is expecting to get is $50,000 and he or she has been told that the maximum they can spend for a car in terms of value of their 50% of the income. Hence the maximum value that the car that we purchase is the worth of $25,000. Hence, the correct answer is $25,000.
Over the past few years, three new factories have been built near Jasper City. A four-acre area of land lies between these three factories and since no one "owns" this land, all three factories are using it as a landfill to dump waste products. The once-beautiful land is now encased in garbage. What phenomenon does this portray?
The scenario described portrays the tragedy of the commons, where the shared and unregulated use of a resource leads to its degradation. The phenomenon depicted in the scenario is known as the tragedy of the commons.
It occurs when a commonly owned resource, such as the land between the three factories in this case, is accessible to multiple individuals or entities without clear ownership or regulation. In the absence of effective governance or property rights, each factory has an incentive to use the land as a landfill to dispose of waste products, leading to its deterioration.
The tragedy of the commons arises from the collective behavior of self-interested individuals who prioritize their own short-term gains over the long-term well-being of the shared resource. Without any constraints or regulations in place, each factory sees the land as a free and unlimited dumping ground, resulting in the accumulation of garbage and the degradation of the once-beautiful land. This phenomenon highlights the importance of proper resource management, regulation, and cooperation to prevent the overuse and destruction of commonly owned resources.
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Write 9.58 times 10^(2) in standard notation. pls help!
its math btw
Period of time when unemployment rises and businesses begin to produce less and less
Answer:
Cyclical unemployment
Explanation:
The process of this happening is known as Cyclical unemployment. This is something that is common in every country around the world and tends to happen due to many reasons. Each countries economic cycle is different and follows different ranges. The United States Economic Cycle tends to happen roughly every 8 years, although this is not 100% guaranteed. When it does happen Stock Markets tend to crash which is what causes a chain reaction that leads to unemployment rises and businesses producing less and less as there is less consumer spending.
Drag the tiles to the correct boxes to complete the pairs.
Match the method of exchanging information with its description.
IM
blog
message board
wiki
facilitates discussion and polls
arrowRight
enables only the author to exclusively post and edit articles
arrowRight
enables any number of users to publish and edit content
arrowRight
provides a platform for real-time communication
arrowRight
IM (Instant Messaging): provides a platform for real-time communication, allowing users to exchange messages and have conversations in real-time.
Blog: provides enables only the author to exclusively communication post and edit articles, typically on a specific topic or theme. Blog posts are usually displayed in reverse chronological order.
Message Board: facilitates discussion and polls among a group of users who share a common interest. Provides users can post messages, communication ask questions, and respond to each other's posts.
Wiki: enables any number of users to publish and edit content collaboratively, often provides on a specific topic or theme. Wikis are designed to promote collaboration and knowledge-sharing among a group of users.
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Your job is to cold call people and sell
them life insurance. You do some
research and find out that the life
insurance policy could be purchased
cheaper online. Your boss forbids you
to tell the customer this and expects
you to sign up at least 5 new
customers per day.
What will you do?
I believe I would be cheating customers if I don't do right by them. I would prefer to look for a new job than do something that is ethically wrong and against my morals.
As an employee, I would first try to figure out a way to do right by the customers and reduce the insurance fee. I would try to explain to my boss how we could benefit and increase our customer base if we reduce the fees.
If I fail at getting the price change. I would try looking for a new job that fits well with my morals. Till the time I get a new job, I would try working the same job and explaining to the boss.
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Joe was getting ready for his first performance evaluation at his new company. He had made a list of all the things that he felt he needed to improve upon as was the custom at his previous organization. He was surprised when he walked into his evaluation meeting to find his supervisor ready to discuss how he can develop himself for promotional opportunities. What element of the importance of human communication in business and professional contexts does this example illustrate
Explanation:
This example illustrates that the communication process can often be impacted by past experiences. In this case it is clear that Joe was preparing for his first performance appraisal as he did in his previous organization, but he was surprised because in the new company the performance appraisal process was focused on development for new promotional opportunities, not development staff as was previously done.
Therefore, communication is a process impacted by experiences, it is in the organizational environment it is a dynamic process that varies according to the objectives, structure and organizational culture.
Net Income ($105) Charges in Working Capital $50 FCFO ($55) Disposal of PPE $40 Purchase of PPE ($67) FCFI ($27) Issuance of Stock $240 Dividend Payment ($75) Issuance of Debt $70 Debt Repayment ($33) Interest Expense ($45) FCFF $157 Total FCF $[?] Fill in the blanks on this financial statement.
The statement adds up the FCFF and FCFI to arrive at total FCF of $100.
How to fill in the blank Total FCF?The statement presents a summary of cash flows for a company. The first section starts with net income of $105 and adds back non-cash expenses such as the $50 charge in working capital to arrive at FCFO of negative $55.
The second section presents investing activities, including the $40 disposal of PPE and the $67 purchase of PPE, resulting in FCFI of negative $27. The third section covers financing activities, including the $240 issuance of stock, $75 dividend payment, $70 issuance of debt, $33 debt repayment, and $45 interest expense, arriving at FCFF of $157.
Finally, the statement adds up the FCFF and FCFI to arrive at total FCF of $100.
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A party who confers a benefit on someone else unnecessarily can invoke the principle of quasi contract to recover the cost. True or False?
This statement is True. A quasi-contract is a legal principle that states that a contract may be implied in certain circumstances even though there is no written or spoken agreement has been made.
In such cases, the law obliges the recipient of the benefit to reimburse the cost of the benefit. This duty is based on the idea that it is unfair for someone to benefit from something at the expense of another. For example, if a person pays for goods on behalf of someone else, they may be able to use the quasi-contract principle to recover costs through a court action.
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Only certain types of contracts fall within the statue of frauds. what is required to be evidenced by a writing?
Under the Statute of Frauds, certain types of contracts must be evidenced by a writing in order to be enforceable. These contracts typically include: real estate transactions, agreements that cannot be performed within one year, contracts for the sale of goods over a certain value, promises to pay someone else's debts, and agreements made in consideration of marriage. To be valid, the written evidence must include the essential terms of the contract, such as parties involved, subject matter, and price, and be signed by the party against whom enforcement is sought.
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in recent years, today's marketers are also reexamining their ________ responsibilities.
In recent years, today's marketers are also reexamining their social responsibilities.
The role of marketers has evolved over the years, and they are no longer solely focused on promoting products and services. Marketers now recognize the impact their actions have on society and are taking a more proactive approach toward corporate social responsibility. They are increasingly integrating sustainability, ethics, and social values into their marketing strategies. This includes ensuring their products and services are environmentally friendly, promoting diversity and inclusivity, supporting social causes, and being transparent about their business practices. By taking a more responsible approach, marketers are not only contributing to the betterment of society but are also enhancing their brand reputation and earning the trust of consumers.
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Why is it called Chick-Fil-A when a Fil-A (filet) is normally cooked with beef???
Target profit is $100,000; fixed overhead costs are $120,000 and fixed selling and administrative costs are $50,000. If total variable cost is $675,000, the markup percentage to the variable cost using the variable cost method is:_______________
Answer: the markup percentage= 40 %
Explanation:
Markup, usually expressed as a percentage is the price one gets after selling a product from the difference of the purchase cost and selling price. The greater the markup, the more profit after sale of products.
To compute the markup percentage to variable cost using the variable cost method, we use the formulae
Markup=Target profit + fixed overhead cost + fixed selling and administrative costs) / total variable cost
$100,000 + $120,000 +$50,000 /$675,000
=0.4 x 100 = 40%
Markup percentage =40
which statement best describes the sec rules relating to bookkeeping services? a. bookkeeping services are permitted if the individuals performing these services do not also perform the audit
The statement best describes the SEC rules relating to bookkeeping services is an accountant generally cannot provide bookkeeping services to an SEC audit client.
The practice of regularly documenting your company's financial activities into arranged accounts is known as bookkeeping. It may also be used to describe the many recording methods that companies may employ.
A bookkeeper will make sure that all of a company's accounts are correct and current. Additionally, they will periodically report on those accounts so the owners and management are aware of their financial situation. Additionally, tidy accounts make it simple for accountants to intervene and handle their duties at the conclusion of the financial year.
To track income and spending as effectively as possible, a corporation must employ three different forms of accounting. Cost, management, and financial accounting are some of them.
The given question is incomplete, the complete question is:
Which statement best describes the SEC rules relating to bookkeeping services?
a. Bookkeeping services are permitted, as long as the individuals performing these services are not the same individuals performing the audit.
b. Bookkeeping services are permitted if the fees from these services are insignificant relative to the audit fees.
c. Bookkeeping services are permitted if the client agrees in writing to accept responsibility for the adequacy of these services.
d. An accountant generally cannot provide bookkeeping services to an SEC audit client.
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A perceived or real incompatibility of goals, values, expectations, or processes between two or more interdependent parties is known as
The incompatibility of goals, values, and expectations between two individuals or groups which are interdependent on each other is known as conflict.
What is interdependence?Interdependence is the characteristic of an individual or group where one is dependent on the other. This could be seen in one's family where children are interdependent on their parents.
Conflict arises between two parties when one party is against the other party or when the aims, values, and expectations of one person don't match or clashed with the other person. It could generally be observed in those parties which are interdependent on one another.
Therefore, conflict happens between interdependent parties when the goals, values, and expectations are different.
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Which of the following is an example of nonverbal communication?
shaking hands to greet a supervisor
writing an email to a coworker
talking on the telephone to a customer
listening to a presentation at a meeting
ILL GIVE BRAINLEST IF UR ANWSER IT RIGHT .....
Answer:
Option: writing an email to a coworker
Explanation:
Writing an email to a coworker is an example of nonverbal communication because there is no communication between people by speaking or listening. Writing an email to a coworker is a way of communicating with a person without listening to others converse or engage in one to one talk in person.
Answer:
B
Explanation:
Risk Management: All organizations activities involve risk. Risks are events caused by uncertainties, which can have a positive or negative effect on the project objectives. All projects are unique and thus the associated risk varies between projects.
An American multinational conglomerate incorporated in New York State and headquartered in Boston operates in the following segments: aviation, healthcare, power, renewable energy, digital industry, additive manufacturing, locomotives, and venture capital and finance. The VP of Risk Management and the Director of Project Management are jointly working on a risk assessment for a new class of business ventures. Market research shows that the probability of understaffing causing costly delays is 0.5613 and the probability of natural disaster causing delays is 0.5752. The probability of both understaffing and a natural disaster is 0.3229.
Let UN = The event of understaffing causes a delay, ND = The event of a natural disaster causes a delay.
(a) What is the probability that at least one of these events causes a delay? (Round your answer to four decimal places)
Identify the correct notation AND terminology for the probability you calculated immediately above. (Select all terms that are applicable to any part of this calculation) (Select all that apply.)
P((UN∩ND)∩(UN∪ND))
P((UN∪ND)∩(UN∩ND)C)
Complement
P(ND)
Union
P(UN∪ND)
P((UN∪ND)C)
P(UN)
Disjoint
Intersection
(b) What is the probability that that neither event causes a delay? (Round your answer to four decimal places)
Identify the correct notation AND terminology for the probability you calculated immediately above. (Select all terms that are applicable to any part of this calculation) (Select all that apply.)
P((UN∩ND)∩(UN∪ND))
Intersection
Union
Complement
Disjoint
P(UN∪ND)
P(UN)
P((UN∪ND)∩(UN∩ND)C)
P(ND)
P((UN∪ND)C)
(c) What is the probability that exactly one of these events causes a delay? (Round your answer to four decimal places)
Identify the correct notation AND terminology for the probability you calculated immediately above. (Select all terms that are applicable to any part of this calculation) (Select all that apply.)
P((UN∪ND)∩(UN∩ND)C)
P(ND)
Intersection
Disjoint
P((UN∪ND)C)
Complement
P((UN∩ND)∩(UN∪ND))
P(UN)
Union
P(UN∪ND)
Are the events UN and ND independent? Why or why not? (Select all that apply.)
Yes
The probability of both events occurring is equal to the product of their unconditional probabilities.
Because P(UN∩ND) = P(UN) × P(ND), these events must be independent.
Because P(UN∩ND) ≠ P(UN) × P(ND), these events must NOT be independent.
No The probability of both events occurring is equal to the product of their conditional probabilities.
a. The probability that at least one of the events causes a delay is 0.8136, and the correct notation is P(UN∪ND).
b. The probability that neither event causes a delay is 0.1864, and the correct notation is P((UN∪ND)C).
c. The probability that exactly one of the events causes a delay is 0.6284, and the correct notation is P((UN∩ND)∩(UN∪ND)C)
a. The probability that at least one of the events (understaffing or natural disaster) causes a delay is 0.8136.
The correct notation and terminology for the probability calculated above is P(UN∪ND), which represents the probability of the union of events UN (understaffing causes a delay) and ND (natural disaster causes a delay).
b. The probability that neither event causes a delay is 0.1864.
The correct notation and terminology for the probability calculated above is P((UN∪ND)C), which represents the complement of the union of events UN and ND.
c. The probability that exactly one of the events causes a delay is 0.6284.
The correct notation and terminology for the probability calculated above is P((UN∩ND)∩(UN∪ND)C), which represents the intersection of event UN and the complement of the union of events UN and ND.
The events UN (understaffing causes a delay) and ND (natural disaster causes a delay) are not independent. This is because the probability of both events occurring, P(UN∩ND), is not equal to the product of their unconditional probabilities, P(UN) × P(ND). Therefore, the events UN and ND are dependent.
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Terophone charge is debit or credit
Answer:
credit
Explanation:
suppose that in the market for computer memory chips, the equilibrium price is $50 per chip. if the current price is $55 per chip, then there will be (click to select) of memory chips.
Surplus (or excess supply) of memory chips.
In the given scenario, the equilibrium price for computer memory chips is $50 per chip. If the current price is higher than the equilibrium price, specifically $55 per chip, there will be a surplus of memory chips in the market.
A surplus occurs when the quantity supplied exceeds the quantity demanded at a given price. In this case, the higher price of $55 per chip indicates that sellers are willing to supply more memory chips than buyers are willing to purchase.
To illustrate this concept, let's consider the market conditions. At the equilibrium price of $50 per chip, the quantity demanded and the quantity supplied are in balance. However, when the price increases to $55 per chip, some potential buyers may find the price too high, resulting in a decrease in demand. Meanwhile, suppliers are motivated to increase their production due to the higher price, resulting in a greater quantity supplied.
The excess supply of memory chips due to the price of $55 per chip indicates a surplus situation in the market. This surplus may lead to downward pressure on prices as sellers attempt to sell their excess inventory.
In conclusion, if the current price of computer memory chips is $55 per chip, higher than the equilibrium price of $50 per chip, there will be a surplus of memory chips in the market. The surplus arises when the quantity supplied exceeds the quantity demanded at the given price, indicating an imbalance between buyers and sellers. This situation may lead to downward pressure on prices as sellers strive to sell their excess supply and restore equilibrium in the market.
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how is the boom in demand for mis services driving career opportunities?
The boom in demand for IT and mis services is driving career opportunities by creating a high demand for professionals with relevant skills and experience.
Boom is creating opportunities for young professionals who are skilled. Companies are investing in technology and digital transformation initiatives, which has increased the need for IT and mis professionals who can help implement, manage and maintain these systems. This has led to an increase in job openings and salaries for these roles.
Additionally, as businesses continue to adopt new technologies and expand their digital operations, the demand for IT and mis professionals is expected to remain strong in the future.
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JOURS CH6-11 Question 46 of 47 View Policies Current Attempt in Progress Sheridan Corporation produces snowboards. The following cost information per unit is available direct materials $16: direct labour $6: variable manufacturing overhead $3fixed manufacturing overhead $19: variable setting and administrative experises $3, and fixed selling and administrative expenses $16. Using a 20% markup bercentage on the total cost per unit, calculate the target selling price
The target selling price for Sheridan Corporation's snowboards is $75.60 per unit.
To calculate the target selling price, follow these steps:
1. Determine the total cost per unit by adding all given costs:
Direct Materials: $16
Direct Labor: $6
Variable Manufacturing Overhead: $3
Fixed Manufacturing Overhead: $19
Variable Selling & Administrative Expenses: $3
Fixed Selling & Administrative Expenses: $16
Total Cost per Unit = $16 + $6 + $3 + $19 + $3 + $16 = $63
2. Calculate the markup amount by multiplying the total cost per unit by the given markup percentage (20%):
Markup Amount = Total Cost per Unit × Markup Percentage
Markup Amount = $63 × 0.20 = $12.60
3. Determine the target selling price by adding the total cost per unit and the markup amount:
Target Selling Price = Total Cost per Unit + Markup Amount
Target Selling Price = $63 + $12.60 = $75.60
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Harris tree owns and operates a gaming center and completed the following transactions during April 2021, its first month of operations. Journalize the transactions
Recording the date, the accounts you're debiting or crediting from, and a short description of the transaction itself are all parts of keeping track of all your commercial transactions, or journalizing them.
How do you Journalize and post transactions?A business transaction is journalized when it is recorded in accounting records. Maintaining records calls for commitment and knowledge, especially for accountants. Every business process is documented chronologically in a journal, commonly referred to as a Book of Original Entry.
Identifying the account as well as the type of account is the first step. Choosing whether each account increases or decreases is the second stage. The third step is to journalize the transaction. Accumulated depreciation is the entire amount of depreciation and amortisation that has been applied to an asset since it was first used.
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For which of the following matters should an auditor obtain written management representations?
(a) Management's cost-benefit justifications for correcting internal control weaknesses.
(b) Management's knowledge of future plans that may affect the price of the entity's stock.
(c) Management's knowledge of allegations of fraud or suspected fraud affecting the entity.
(d) Management's acknowledgment of its responsibilities for employee's violations of laws.
An auditor is responsible for the evaluation of an entity's financial statements for the purpose of expressing an opinion on the financial statements.
While conducting an audit, an auditor needs to obtain a written management representation on several matters that may be important for the audit to ensure that the auditor has a proper understanding of the business and financial affairs of the entity.
Below mentioned are some of the matters for which the auditor needs to obtain written management representation-
(a) Management's cost-benefit justifications for correcting internal control weaknesses: It is the responsibility of management to assess the risks and benefits of establishing and maintaining effective internal control over financial reporting and ensuring that these controls are maintained. The auditor needs to obtain written management representations about management's cost-benefit justifications for correcting internal control weaknesses to understand the significance of control weaknesses and its effect on the audit.
(b) Management's knowledge of future plans that may affect the price of the entity's stock: The auditor needs to obtain written management representation to confirm that management has provided the auditor with the information required to determine the impact of future plans on the financial statements.
(c) Management's knowledge of allegations of fraud or suspected fraud affecting the entity: It is essential for the auditor to obtain written management representation to confirm that the management has disclosed all information about fraud or suspected fraud affecting the entity.
(d) Management's acknowledgment of its responsibilities for employee's violations of laws: The auditor needs to obtain written management representation about the acknowledgment of the management regarding its responsibilities for employee's violations of laws to understand the legal implications that may arise due to non-compliance with the laws.
In conclusion, an auditor needs to obtain written management representations for various matters to gain a better understanding of the entity's financial affairs and to provide a reasonable opinion on the financial statements.
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In addition to major academic indicators, highly selective schools review:
Answer:
A. Student health backgrounds
B. Criminal records
C. Students age
D. Anything that makes the student unique
D.) Anything that makes the student unique
EX: School programs you were enrolled in, sports, classes, and even language classes
hope this helps:)