Journalize the entry for Hot Rod Service using the following data from the payroll register:

Regular earnings $16,370
Overtime earnings 903
Federal income tax withheld 2,268
Social Security tax withheld 827
Medicare tax withheld 194
Pension contribution from employees 711
Health insurance premiums 807

If an amount box does not require an entry, leave it blank.

Date Description Post Ref. Debit Credit

Answers

Answer 1

Answer: See explanation

Explanation:

Debit: Wages and Salaries Expense = $17,273

Credit: Employee Income tax payable = $2,268

Credit: Social Security tax payable = $827

Credit: Medicare tax payable = $194

Credit: Pension plan deduction payable = $711

Credit: Health Insurance premium payable = $807

Credit: Cash (Balancing Figure) = $12,466

Note that wages and salaries expense was calculated as:

= Regular earnings + Overtime earnings

= $16,370 + $903

= $17,273


Related Questions

Yolanda first breaks down

Answers

The programming design approach represented in this scenario is modular programming. The programming design approach represented in this scenario is object-oriented programming.

What is programming?

The process of creating a set of instructions that tells a computer how to perform a task is known as programming. Computer programming languages such as JavaScript, Python, and C++ can be used to create programs.

Modular programming is the programming design approach represented in this scenario. Yolanda divides the entire game into modules, which are then subdivided further into smaller modules until the individual parts are manageable for programming.

Thus, this method entails representing data and functions as objects and employing inheritance and polymorphism to generate flexible and reusable code.

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complete question.

Identify which type of programming design approach each represents

Yolanda first breaks down the whole game she needs to program into modules. She then breaks these modules into smaller modules until the individual parts are manageable for programming. She writes the smallest modules, and then recombines them into larger parts.

Assignment:
Write a bad-news message. Additionally, explain the steps in the inductive outline and explain how you used it in the bad-news message.
• Opens with a neutral idea that leads to refusal or bad news.
• Presents facts, analysis & reasons for refusal or bad news.
• States bad news using a positive tone & de-emphasis technique.
• Provides counterproposal or "silver lining" idea when possible or appropriate.
• States ideas in a closing that shift focus away from refusal or bad news & indicates continuing relationship with receiver.

Answers

Answer:

Dear Mr. Johnson,

Thank you for your interest in our company and for submitting your proposal for the new project. We appreciate the time and effort that you put into creating the proposal.

After careful consideration, we regret to inform you that we will not be able to move forward with your proposal at this time. Our team has reviewed the proposal thoroughly and we have determined that it does not align with our current business objectives.

We understand that this news may be disappointing, but please know that we value our relationship with you and appreciate the opportunity to review your proposal. We hope that you will continue to consider working with us in the future.

In the meantime, we would like to offer some feedback on your proposal. While it did not meet our current business objectives, we were impressed with your attention to detail and your innovative ideas. We encourage you to continue developing your proposals and we look forward to seeing more of your work in the future.

Thank you again for considering us for this project.

Best regards,

[Your Name]

Explanation of the inductive outline:

The inductive outline is a structured approach to delivering bad news in a way that is respectful and maintains a positive relationship with the recipient. The outline consists of five main steps:

Opens with a neutral idea that leads to refusal or bad news - In this bad-news message, the opening sentence thanks the recipient for their interest in the company and for submitting a proposal. This is a neutral statement that leads to the bad news that follows.

Presents facts, analysis & reasons for refusal or bad news - The second sentence presents the bad news that the proposal was not accepted. The following sentence explains that the company reviewed the proposal and determined that it does not align with their current business objectives.

States bad news using a positive tone & de-emphasis technique - The third sentence uses a positive tone and de-emphasis technique to soften the impact of the bad news. The sentence acknowledges that the news may be disappointing but emphasizes the value the company places on their relationship with the recipient.

Provides counterproposal or "silver lining" idea when possible or appropriate - In this message, a counterproposal is not provided but feedback is given on the proposal. This feedback highlights the positive aspects of the proposal and encourages the recipient to continue developing their ideas.

States ideas in a closing that shift focus away from refusal or bad news & indicates continuing relationship with receiver - The closing sentence thanks the recipient again and reinforces the company's interest in working with them in the future. This sentence shifts the focus away from the bad news and maintains a positive relationship with the recipient.

Your coworker Ginny is really concerned about a project that she has just been assigned. She is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report.

If Ginny's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions supplied you would advise your coworker to construct _____ using the data provided.

a. a supply curve
b. the law of supply
c. a supply curve

However, if Ginny's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that a _____ would be more appropriate.

a. supply schedule
b. supply curve
c. law of supply

Answers

If Ginny's boss wants to get the graphical representation of the relationship between the price and quantity of televisions supplied, then he would use th:

a. a supply curve

However, if he is interested in the visual representation, then he would have to use the:

a. supply schedule

What is a Supply Curve?

This refers to the representation of the relationship which exists between the price and supply of a particular good.

With this in mind, we can see that the best way to display the set of data in a graphic format is with the use of the supply curve while the representation of data in a visual format would be the use of a supply schedule.


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which brand more consistently produces tablets as advertised? a consumer interest group is interested in comparing two brands of vitamin c. one brand of vitamin c advertises that its tablets contain 400mg of vitamin c. the other brand advertises that its tablets contain 150mg of vitamin c. tablets for each brand are randomly selected and the milligrams of vitamin c for each tablet are measured with the following results.

Answers

The brand that  more consistently produces tablets as advertised is  Brand B. The coefficient of variation is calculated to determine this.

What is coefficient of variation?

The coefficient of variation, also known as relative standard deviation in probability theory and statistics, is a standardized measure of the dispersion of a probability distribution or frequency distribution.

We must compare data from two consumer groups of vitamin C tablets. The tablets for each group were chosen at random.

Given data from  table,

For brand A :

Tablets contains the quantity of vitamin C = 500 mg

Sample mean = 250

Standard deviation = 7

For brand B :

Tablets contains the quantity of vitamin C = 250 mg

Sample mean = 500

Standard deviations = 10

Coefficient of Variation (CV) = (Standard Deviation/Mean) × 100.

a) To calculate the coefficient of variation (CV) for Brand A

= (7/250 )×100 = 2.8%

b) To calculate the coefficient of variation (CV) for Brand B

= (10/500 )×100 = 2.0%

c) As we see, Coefficient of variation of advertising for brand B is less than brand A.  So, Brand B more consistently produces tablets as advertised.

Therefore, required brand is brand B.

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Your question is incomplete, but most probably the full question was,

consumer interest group is comparing two brands of vitamin C. One group advertises that its tablets contain 500 mg of vitamin C. The other advertises that its tablets contain 250 mg of vitamin C. Tablets for each group were selected randomly. The table above shows the results.

Vitamin C Content (mg) Brand A (500 mg) x = 250s = 500Brand B (250 mg) x = 500s = 10

a) Calculate the coefficient of variation (CV) for Brand A (1point)

b) Calculate the coefficient of variation (CV) for Brand B (1 point)

c) Which brand more consistently produces tablets as advertised? (2 points)

d) Explain your answer to c) above. (1 point)

which brand more consistently produces tablets as advertised? a consumer interest group is interested

The type of rice that holds its shape best after cooking is

Answers

Answer:

parboiled

Explanation:

Parboiled rice (also called converted rice and easy-cook rice) is rice that has been partially boiled in the husk. The three basic steps of parboiling are soaking, steaming and drying.

Ethics Student Activity Packet
In this lesson, you will learn to:
- Define what ethics is
- Explore some of the ethical dilemmas our society faces, such as those posed by self-driving cars
- Analyze a number of ethical dilemmas and recommend how the people in these situations should proceed
NOTE: Vocabulary for this unit can be found in the NGPF Personal Finance Dictionary

RESOURCES
Discussion Prompts
Write your responses to the questions. Then, share what you wrote with your classmates or a partner.
QUESTIONS
1. How do you know if a behavior or action is right or wrong?

Ethics Student Activity PacketIn this lesson, you will learn to:- Define what ethics is- Explore some

Answers

A behavior or action is right or wrong due to the fact that it is a specific kind of action, that tends to fits in with some principles or rules, and can also say the behavior is right or wrong due to the fact that it brings about good or negative consequences.

How do we know good and bad behavior?

We must first comprehend what we mean when we speak about right and wrong in order to taken in how to acquire moral understanding.

Therefore, one can make use of Conscience-Based Action: Ethical Knowledge. It is seen as a more prevalent viewpoint that exists that is not too dissimilar from that. It is the notion that by paying attention to our conscience, we can determine what is morally right and wrong. What determines whether anything is right or wrong is that still, small voice within of us.

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Assume that one year ago, you bought 340 shares of a mutual fund for $36 a share, you received a capital gain distribution of $0.55 per share during the past 12 months, and the market value of the fund is now $40 a share.



a. Calculate the total return for your $12,240 investment.

Answers

The total return on this mutual fund investment is $12,427.

Total return on investment refers to the total profit or loss on an investment, including any capital appreciation and dividends or distributions received.

Here's how to calculate the total return on a mutual fund investment:

Step 1: Calculate the total initial investment by multiplying the number of shares by the purchase price per share. For this investment, the total initial investment is: 340 shares x $36/share = $12,240.

Step 2: Add any capital gain distributions received during the investment period. In this case, the capital gain distribution per share is $0.55, so the total capital gain distribution received is: 340 shares x $0.55/share = $187.

Step 3: Calculate the current market value of the investment by multiplying the number of shares by the current market price per share.

In this case, the current market value is: 340 shares x $40/share = $13,600.

Step 4: Add any dividends or interest payments received during the investment period, if applicable.

If no dividends or interest payments were received, skip this step.

Step 5: Calculate the total return by adding the initial investment, capital gain distributions, and dividends or interest payments (if applicable), and then subtracting any fees or commissions paid during the investment period.

In this case, the total return is: $12,240 + $187 = $12,427.

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Ramniwas, a book-keeper, taking out a trial balance as on 31st March 2005, found that its debit and credit columns did not agree. He proceeded to check the entries and discovered the following errors:



A credit sale of Rs. 1,000 to Ajay had been correctly entered in the Sales Book but Ajay’s Account had been debited with Rs. 100 only.



The total of the Bills Payable Book Rs. 5,000 had been posted to the credit of Bills Receivable Account.



Rs. 2,500 paid to Ram had been wrongly posted to Shyam.



Rs. 100 owing by a customer had been omitted from the list of debtors.



The discount column of the Cash Book representing discount allowed to customer has been over-added by Rs. 10.



Goods worth Rs. 100 taken by the proprietor omitted to be recorded in the books.



Depreciation on furniture Rs. 100, had not been posted to Depreciation Account.



The total of Sales Book had been added Rs. 1,000 short.





Which of the above errors caused the totals of the Trial Balance to disagree and by how much did the totals differ?

Answers

Answer:

Ramniwas Bookkeeper

A. The errors that caused the totals of the Trial Balance to disagree are:

1. A credit sale of Rs. 1,000 to Ajay had been correctly entered in the Sales Book but Ajay’s Account had been debited with Rs. 100 only.

2. The discount column of the Cash Book representing discount allowed to customer has been over-added by Rs. 10.

3. The total of Sales Book had been added Rs. 1,000 short.

B. The totals disagreed by:

Understated debit    Rs. 900

Overstated debit              (10)

Understated credit     (1,000)

Totals disagreed by   Rs. 110

Explanation:

a) Correction of Errors on the Trial Balance, March 31:

Account Title                             Debit       Credit

Account receivable (Ajayi's)   Rs. 900

Accounts Payable                                    Rs. 5,000

Accounts Receivable                5,000

Shyam                                       2,500

Ram                                                               2,500

Cash Discount Allowed                                     10

Drawings                                      100

Inventory                                                          100

Depreciation Expense                100

Accumulated Depreciation                             100

Sales Revenue                                             1,000

Totals                                Rs. 8,600     Rs.  8,710

b) Credit side of the Trial Balance was greater by Rs. 110 (Rs. 8,710 - Rs. 8,600).

Which of the following should be considered last when searching for financing? Question 6 options: Family members Banks Commercial finance companies Credit cards

Answers

Answer:

Credit cards

Explanation:


I need help please

I need help please

Answers

First and foremost, we must understand that marketing campaigns are essential for businesses in a highly competitive market to differentiate themselves; they are also very common when a new product, piece of technology, or innovation is released.

What are importance of marketing campaign?

Marketing campaigns that are very effective can be game changers for a firm. A good marketing campaign can break through the clutter and distinguish your business from your competitors, whether you are a small business owner trying to build brand awareness or an existing company launching a new product in the market.

Marketing campaigns can help you raise brand awareness and reach new customers. They also inform your target market about new products and services, help to build your reputation, and engage customers. In other words, they are very critical and essential for any business.

An example of a successful marketing brand using a social media platform is Nike on Ins/ta/gra/m. Nike has been able to effectively use Inst/agra/m to connect with its target audience and promote its products.

The brand has a strong visual identity on the platform, regularly posting high-quality images and videos of its products, as well as athletes and influencers wearing them. The brand has also been able to build a large following on the platform, with over 45 million fol/lowers.

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On January 1, Year 1, Canseco Plumbing Fixtures purchased equipment for $52,000. Residual value at the end of an estimated four-year service life is expected to be $4,000. The company uses the straight-line method. For how much would each item below be reported at the end of Year 2?

Answers

Answer:

Reported for Year 2 will be :

Depreciation Expense = $12,000

Accumulated Depreciation = $24,000

Book Value = $28,000

Explanation:

Straight line method charges a fixed amount of depreciation for the period that the asset is in use in the business.

Depreciation Charge = (Cost - Salvage Value) ÷ Estimated Useful Life

therefore,

Depreciation Charge = ($52,000 - $4,000) ÷ 4

                                     = $12,000

we know that,

Accumulated depreciation = Sum of all depreciation to date

and

Book Value is the Costs less Accumulated depreciation

thus,

Balances for the Next 2 years will be as follows

Year 1

Depreciation Expense = $12,000

Accumulated Depreciation = $12,000

Book Value = $40,000

Year 2

Depreciation Expense = $12,000

Accumulated Depreciation = $24,000

Book Value = $28,000

on a construction drawing which of the following best describes a b-b elevation

A. Top elevation
B. Front elevation
C. End elevation
D. Bottom elevation

Answers

Answer:

What best describes a b-b elevation on a construction drawing is:

B. Front elevation.

Explanation:

Construction elevations are depictions of how the finished construction work will look when viewed from different angles.  Specific angles have different types of elevation.  There are front elevations, side elevations, rear elevations, and split elevations.  A front or entry elevation shows the side of the house from the entrance door, windows, or front porch. This side of the house usually faces the street road with a front yard.

Ethiopia's incomes and expenditures are as follows (in billion bire) in 2009
Wages
100

Social security contributions
7
Interest income
5
Personal taxes
20
Consumption expenditure by households
60
Government purchases of goods and services
150
50
Transfer payments
100
Corporate profit
30
Investment expenditures by business
20
Corporate Income taxes
50
Indirect business taxes
Undistributed corporate profit
90
Consumption of fixed capital( depreciation)
40
Non income charges
65
Expenditures by foreigners
25
Net foreign factor income earned domestically
25


a. Using expenditure approach, what is GDP?
b. Using income approach, what is GDP?
c. Using the figure from expenditure approach in question 1, what is net domes product (NDP)?
d. Using the figure from question 3 and the table above, what the national incon
(ND)?
e. Using the figure from question 4 and the table above, what is personal income (PI)?
f. Using the figure from question 5 and the table above, what is disposable income (DI)?

Answers

At the woreda level, four percent of GDP is spent, mostly on labor and salaries in the education sector, accounting for 25 percent of all expenditures.

By expenses, what do you mean?

A payment made in cash or on credit to buy goods or services is referred to as an expenditure. It is recorded once, at the moment of purchase, as opposed to an expense, which is reported after it has been used up or expired. Housing, food, transportation, child care, health care, and other needs are included in the basic cost of living, according to the Economic Policy Institute. Because of variables like lifestyle and family size, cost of living expenses might differ from person to person. The most typical approach to determining a nation's GDP is through expenditures. Consumer spending, investment, government spending, and net exports are all added up using this method.  

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can u solve this plsss​

can u solve this plsss

Answers

The main reason why the Japanese liberalized the bank mergers in Japan was to protect the economy and prevent an economic crash.

What is Financial Liberalization?

This refers to the removal of regulatory control in the financial sector to promote economic growth.

The government of Japan faced an economic crash that threatened to cripple the economy due to stock market crash, failing banks, etc and there was the use of risk-based capital to try and prevent this, amongst other solutions.

Hence, we can see that the key aspects of the liberalization program were:

MergersAcquisitions.

The key criticism of the program is that it failed to address the scale of the problem and the solution was only short-term.

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what is international employment

Answers

Answer:

International Employee means any regular full-time or regular part-time employee of an Employer who is not on a United States payroll and is working regularly in a location outside of the United States.

Explanation:

This section is based on the case study titled: Maximising Media Relations for Effective Program Execution: UNICEF in Nigeria. This case study is found under the lesson 3 folder, and copies are under the additional resources folder. Please answer all these questions and ensure that you use the correct numbering as given in the question itself.
1. According to the case study, what is the role of public relations? [4]
2. Who are the stakeholders in this case study and their interests [5]
3. What were the strategic tactics and techniques used in the campaign [6]
4. What research methodology was used to develop this plan and discuss whether the programme was successful or not successful in your perspective. Provide evidence from the case study to support your argument. [10]
5. “For effective media relations, the public relations practitioner must understand how the media function and how reporters work” – (Baskin et al, pp:179). As a public relations practitioner what is your assessment of the use of mass media
in this programme and was the use of mass media the best option vs social media in
the programme? (We want to see the student present their own argument here) [5]
6. What did you learn in this case study? [5]

Answers

UNICEF in Nigeria uses strategic strategies and approaches for stakeholder engagement to maximize media relations for effective program execution. Here are the responses to the prompts.

What about the case study?

This case study highlights how essential public relations is when it comes to creating a positive image for an organization while building meaningful relationships with important stakeholders.

In this instance UNICEF was determined to raise awareness regarding their programs in Nigeria by engaging local community leaders while effectively communicating their message to citizens via media outlets. Conversely Nigerias government prioritized developing strategies which addressed citizens' needs coupled with enhancing its reputation. The stakeholders involved included: UNICEF representatives; Nigerian government officials; members of various influential media organizations; respected community leaders; as well as concerned members of society at large.

 To implement effective strategies required tactical thinking alongside techniques such as holding press conferences/ interviews with key players in local/the national press corps; partnering with appropriate organizations/media personalities across identified relevant industries: e.g governance/community activism or where its most needed. Various research methods were employed inclusive of conducting situational analyses regarding media trends in Nigeria.

Also stakeholder analysis was crucial to identify key targets that helped achieve desired outcomes. The UNICEF program gained excellent traction among its target audience through effective outreach and significant coverage.

As a practitioner involved in public relations work I believe that incorporating mass communication was instrumental in broadening the scope for the advocacy messages and amplifying visibility around necessary programs run by UNICEF globally. Moreover using social media channels served as a valuable medium through which younger demographics could be successfully engaged while receiving personalized insights.

The case study has several vital implications regarding understanding regional media landscapes and establishing relationships with important players operating within the regions.

 Collaborative partnerships between local communities alongside other organizations pursuing common goals can result in expanded outreach capacity leading towards new opportunities for positive change. Finally this multifaceted approach utilizing various channels became pivotal not only for generating better visibility but also raising awareness on issues championed by UNICEF globally.

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mini case study reflect on a time when you experienced a different culture or interacted with some one from a different culture. how did the cultural differences influence your interaction

Answers

When traveling from one location to another, there is interaction with unknown strangers with different cultural backgrounds and communication took place between them.

What is culture?

A culture is referred to as a set of beliefs, tradions, values, customs, and rituals, followed by an individual in a community in order to preserve their ancestor's belongings.

When interacting with poeple from different cultural backgrounds, knowledge, and ideas are shared with each other. Different cultures have different languages that exchange with one another and some of them also adopt in own culture.

Sometimes these cultural differences cause conflicts leading to miscommunication due to having differences in viewpoints of individuals and different goals.

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SCI just paid a dividend ( D0 ) of $3.12 per share, and its annual dividend is expected to grow at a constant rate (g) of 6.50% per year. If the required return ( rs ) on SCI’s stock is 16.25%, then the intrinsic value of SCI’s shares is per share. Which of the following statements is true about the constant growth model?
The constant growth model can be used if a stock’s expected constant growth rate is less than its required return.
The constant growth model can be used if a stock’s expected constant growth rate is more than its required return. Use the constant growth model to calculate the appropriate values to complete the following statements about Super Carpeting Inc.:
• If SCI’s stock is in equilibrium, the current expected dividend yield on the stock will be per share.
• SCI’s expected stock price one year from today will be per share.
• If SCI’s stock is in equilibrium, the current expected capital gains yield on SCI’s stock will be .

Answers

Answer:

a.  

Last Dividend, D0 = $3.12

Growth Rate, g = 6.50%

Required Return, rs = 16.25%  

\(D1 = D0 \times(1 + g)\\D1 = $3.12\times1.065\\\)

D1 =$ 3.3228  

Intrinsic Value, P0 = D1 / (rs - g)

Intrinsic Value, P0 = $3.3228 / (0.1625 - 0.0650)

Intrinsic Value, P0 = $34.08

b.  

The constant growth model can be used if a stock’s expected constant growth rate is less than its required return.

c.  

Dividend Yield = D1 / P0

Dividend Yield = $3.3228 / $34.08

Dividend Yield = 0.0975 or 9.75%

d.  

Price in 1 year, P1 = P0 * (1 + g)

Price in 1 year, P1 = $34.08 * 1.065

Price in 1 year, P1 = $36.30

e.  

Capital Gain Yield = (P1 - P0) / P0

Capital Gain Yield = ($36.30 - $34.08) / $34.08

Capital Gain Yield = 0.0650 or 6.50%

Has the death of the watch been greatly exaggerated? Apple gets into the game
CS 5.1
Discuss the possible reasons to buy a watch today. Connect each motivation you identify with an appropriate motivational theory from the chapter.

CS 5.2
What does Apple really believe will motivate consumers to purchase the Apple Watch? Are there different motivations at the low versus high (luxury version) price point?

CS 5.3
How do marketers of watches use marketing and advertising to motivate consumers to buy them? Give specific examples.

Answers

Although we do not have access to the chapter, we can provide a generalized answer in that people can still be motivated to buy watches today as an accessory from a fashion standpoint.

What are some motivations today for purchasing a watch?

In this digital age, watches are no longer purchased mainly for their functional aspects given that smartphones can more than suffice. However, as all marketing for watches will prove, the principal motivation for watches today is fashion. Watches now serve as an accessory to complete any outfit, and as is the case with diamonds, a more expensive watch will occupy the role of a lucrative accessory, drawing the desired attention.

Therefore, we can confirm that people can still be motivated to buy watches today as an accessory from a fashion standpoint.

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Choose the account(s) below, that would have a normal credit balance. Multiple select question. revenues accounts payable expenses common stock unearned revenues dividends

Answers

Answer:unearned revenues

Common stock

Revenues

Accounts payable

Explanation:

The account that contains the normal credit balance is revenue, account payable, common stock, and unearned revenue.

The following information should be considered:

The revenues, liabilities & stockholder equity contains the normal credit balance.Dividend, expenses, and the asset contain the normal debit balance.

Therefore we can conclude that the account that contains the normal credit balance is revenue, account payable, common stock, and unearned revenue.

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3 factors that caused human trafficking​

Answers

Answer:

Mass eviction, war, extreme poverty, a lack of access to education and work prospects, violence, and destructive societal norms such as child marriage are all elements that drive people into trafficking situations.

Explanation:

Gregory visited a prospect for the first time this morning, chatted a while with
him, engaging in friendly conversation before making a detailed and lively
presentation of the products he has to offer. He then sought to close the sale,
addressed some doubts that the client had, and still the client wouldn't
commit. What important step has Gregory missed during his time with the
client?
A. Filling out customer information forms
B. Making the presentation
C. Assessing the client's needs
D. The approach

Answers

Answer: C assessing the clients needs

The important step which Gregory has missed during his time with the  client is:

C. Assessing the client's needs

According to the given question, we can see that Gregory is a prospector who went to meet with a client, gave a presentation of what he had to offer, but the client would not commit

As a result of this, the important step which Gregory has missed during the time which he spent with his client is the fact that he did not assess the needs of his client which was improper and caused him not to commit.

Therefore, the correct answer is option C

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how could competition policy undo the wrongs of the past and make south africa a better place​

Answers

The answer is (you’re welcome)
how could competition policy undo the wrongs of the past and make south africa a better place

Cherokee Inc. is a merchandiser that provided the following information

Answers

1. The traditional income statement shows a gross profit of $440,000 and a net income of $250,000.

2. The contribution format income statement reveals a contribution margin of $480,000 and a higher net income of $410,000.

1. Traditional Income Statement:

Revenue:

Number of units sold: 20,000

Selling price per unit: $30

Total Revenue: 20,000 * $30 = $600,000

Cost of Goods Sold:

Beginning merchandise inventory: $24,000

Merchandise purchases: $180,000

Ending merchandise inventory: $44,000

Cost of Goods Sold: (Beginning inventory + Purchases - Ending inventory) = ($24,000 + $180,000 - $44,000) = $160,000

Gross Profit: Total Revenue - Cost of Goods Sold = $600,000 - $160,000 = $440,000

Operating Expenses:

Variable Selling Expense per unit: $4

Total Fixed Selling Expense: $40,000

Total Variable Selling Expense: 20,000 * $4 = $80,000

Total Selling Expense: Total Fixed Selling Expense + Total Variable Selling Expense = $40,000 + $80,000 = $120,000

Variable Administrative Expense per unit: $2

Total Fixed Administrative Expense: $30,000

Total Variable Administrative Expense: 20,000 * $2 = $40,000

Total Administrative Expense: Total Fixed Administrative Expense + Total Variable Administrative Expense = $30,000 + $40,000 = $70,000

Net Income: Gross Profit - Operating Expenses = $440,000 - ($120,000 + $70,000) = $440,000 - $190,000 = $250,000

2. Contribution Format Income Statement:

Revenue: $600,000

Variable Expenses:

Variable Selling Expense: 20,000 * $4 = $80,000

Variable Administrative Expense: 20,000 * $2 = $40,000

Total Variable Expenses: $80,000 + $40,000 = $120,000

Contribution Margin: Revenue - Variable Expenses = $600,000 - $120,000 = $480,000

Fixed Expenses:

Total Fixed Selling Expense: $40,000

Total Fixed Administrative Expense: $30,000

Total Fixed Expenses: $40,000 + $30,000 = $70,000

Net Income: Contribution Margin - Fixed Expenses = $480,000 - $70,000 = $410,000

The traditional income statement follows the format of categorizing expenses as either cost of goods sold or operating expenses. It deducts these expenses from the total revenue to calculate the gross profit and then subtracts operating expenses to determine net income.

On the other hand, the contribution format income statement separates costs into fixed and variable expenses. It calculates the contribution margin by subtracting variable expenses from revenue and then deducts fixed expenses from the contribution margin to determine net income.

The contribution format provides valuable insights into the relationship between revenue, variable costs, and fixed costs. It allows managers to analyze the impact of changes in sales volume on the contribution margin and, consequently, the net income. This format helps in making decisions related to pricing, cost control, and determining the breakeven point.

In the given scenario, the traditional income statement shows a gross profit of $440,000 and a net income of $250,000. However, the contribution format income statement reveals a contribution margin of $480,000 and a higher net income of $410,000. This difference arises because the contribution format highlights the amount available to cover fixed expenses after variable expenses are deducted.

Both income statements provide valuable information for analyzing the company's financial performance and profitability, but the contribution format offers a more detailed view of the cost structure and helps in decision-making based on contribution margin analysis.

The question was incomplete, Find the full content below:

Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 20,000 Selling price per unit $ 30 Variable selling expense per unit $ 4 Variable administrative expense per unit $ 2 Total fixed selling expense $ 40,000 Total fixed administrative expense $ 30,000 Beginning merchandise inventory $ 24,000 Ending merchandise inventory $ 44,000 Merchandise purchases $ 180,000 Required

1) Prepare a traditional income statement.

2 )Prepare a contribution format income statement.

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As an HR manager, what tool would you most likely use to determine the compensation of employees found in competitor firms

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Answer:

The correct approach will be "Compensation surveys ".

Explanation:

Compensation surveys help people to make carefully considered commercial management by providing you with accurate metrics predicated on your market, size of the organization, and the relatively close expertise competitors. Individuals allow us to better understand as well as analyze the talent economy, instead of being mandated either by market.

is income tax an excise tax

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Excise taxes are impartial to income taxes. often, the retailer, producer, or importer ought to pay the excise tax to the IRS and report the shape 720. they'll bypass the fee of the excise tax directly to the client. some excise taxes are accrued through a 3rd birthday celebration.

Income taxes, levies imposed on individuals (or circle of relatives units) and companies. man or woman earnings tax is computed on the idea of earnings acquired. it also includes labeled as an immediate tax due to the fact the burden is probably on the people who pay it.

The fees apply to taxable income—adjusted gross earnings minus both the usual deduction and allowable itemized deductions. income as much as the same old deduction (or itemized deductions) is as a result taxed at a 0 price. Federal earnings tax charges are progressive: As taxable income increases, it's far taxed at higher fees.

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Which factors do the courts concider when they determine whether a work environment is hostile or abusive?

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In determining whether an atmosphere is "hostile" or "abusive," courts must analyze all the relevant facts and should take the following non-exhaustive list of considerations into account:

The frequency of the discriminatory behavior; The severity of the behavior;  Whether the offensive behavior constitutes a physical threat or humiliation or merely an offensive utterance; andWhether the offensive behavior unreasonably hinders an employee's ability to perform their job duties.How an hostile environment works

When an employer behaves in a way that unreasonably interferes with a worker's ability to fulfill their job duties or results in a hostile, offensive, or intimidating workplace, it is said to be generating a hostile environment.

While every case is different, in general you must demonstrate that your membership in a protected class resulted in a persistent and offensive work environment

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The factors that the courts consider when they determine whether a work environment is hostile or abusive are:

The frequency of the discriminatory behavior;The severity of the behavior; Whether the offensive behavior constitutes a physical threat or humiliation or merely an offensive utterance.

How an hostile environment works?

When an employer behaves in a way that unreasonably interferes with a worker's ability to fulfill their job duties or results in a hostile, offensive, or intimidating workplace, it is said to be generating a hostile environment.

Therefore, While every case is different, in general you must demonstrate that your membership in a protected class resulted in a persistent and offensive work environment

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All of the following are examples of primary market research EXCEPT

A.
Direct-mail surveys

B.
Free product samples
C. Focus groups

D.
Promotional e-mail campaigns

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is A i hope it’s right

The study of economics is nothing but the study of a tree and a forest. Discourse with respect to branches of economics

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The study of economics involves the examination of individual components represented by branches and the analysis of the broader system represented by the forest.

How does the study of economics relate to a tree and a forest?

Just as a tree consists of various branches that connect and support each other, the study of economics comprises different branches that explore specific aspects of the economy. These branches including microeconomics, macroeconomics and international economics focus on understanding and analyzing elements of economic behavior and systems.

The interplay between the various branches of economics contributes to comprehensive understanding of how individual economic decisions and activities collectively shape the broader economic system. By studying both the branches and the forest, economists can gain insights into the intricate relationships.

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Jesse has a good job and pays off his one credit card every month. He was surprised that when he applied for a loan to buy a car, he was rejected. Explain the steps the he should take to check his credit report for errors. How can he resolve any errors that he discovers?

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It should be remembered that a credit report is just a record of a borrower's payments. When Jesse discovers the problem in his credit report, he needs to notify the credit reporting agency in writing.

A credit report is a document that contains details on your credit history, credit use, and other aspects of your credit behavior and circumstances. You should be able to check your credit score by going into your account online or looking over your monthly statement if your bank or credit card provider gives free credit ratings.

You may view your credit score or report for free using other services as well. Creditors such as lenders, credit card issuers, and other financial institutions send financial information about you to credit reporting firms, commonly referred to as credit bureaus or consumer reporting agencies, who then collect and store it.

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