karr company borrowed $100,000 by signing a 5-year note payable at 8% interest. at the end of year 5, karr will repay the bank $146,933. at the time the note is signed, the $100,000 is referred to as the of the note payable.
Answers
The $100,000 is referred to as the of the note payable $8000
Accounts payable refers to the liability on the balance sheet that represents money owed by a company to its suppliers (AP). Liabilities for notes payable, on the other hand, are obligations established by formal legal instrument documents. Processing and analyzing supplier transactions, as well as ensuring that any outstanding invoices from suppliers are authorized, processed, and paid, are the main responsibilities of an accounts payable department. Key details must be taken note of and recorded into the company's bookkeeping or financial system while processing an invoice. Following this, the invoices must go through the company's unique business processes in order to be paid.
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Related Questions
give 4 examples to explain whether FinTech can mitigate
manipulation of the financial records.
Answers
The four examples are, Blockchain technology, AI algorithms, Digital identity verification, Real-time auditing.
Blockchain technology is a decentralized and transparent system where transactions are recorded in blocks and linked together in a chain. Once recorded, the information is difficult to alter, providing a robust solution against manipulation of financial records.
AI algorithms can analyze vast amounts of financial data, identifying patterns and abnormalities that could indicate manipulation attempts. By continuously monitoring and analyzing data, FinTech platforms can quickly detect and prevent fraudulent activities.
Digital identity verification methods, such as biometrics or multi-factor authentication, add an extra layer of security to financial transactions. By ensuring the authenticity of individuals involved, FinTech can reduce the risk of unauthorized access and manipulation of financial records.
Real-time auditing capabilities allow for immediate detection of discrepancies or manipulation attempts in financial records. By continuously monitoring transactions and records, FinTech platforms can intervene promptly, minimizing the impact and preventing further manipulation. This proactive approach enhances the integrity and accuracy of financial records.
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According to the law of demand, as prices increase, the quantity demanded by people .
Answers
Answer:
Quantity supplied will increase
Answer: decreases
Explanation: right on edmentum
Describe two ways in which the organisation supports the community?
Answers
Explanation:
This often includes inclusive networking, interpersonal organizing, listening, reflexivity, non-violent communication, cooperation, mutual aid and social care, prefiguration, popular education, and direct democracy.
Hey
here's ur answer ⤵️
Explanation:
This often includes inclusive networking,interpersonal organizing, listening,reflexivity, non violent communication, cooperation,mutual aid and and social care, prefiguration, popular education and direct democracy
hope it helps ✌
Which person would most likely want to invest all of his or her savings in a
hedge fund?
A. A retiree who is most interested in keeping her deposits safe
B. A student who wants his money to grow as quickly as possible
C. A teacher who would like to have a diversified set of investments
D. A doctor who wants to avoid paying taxes on retirement income
SUBMIT
Answers
Answer:
C. A teacher who would like to have a diversified set of investments
Which type of chart or graph shows data with distinct x and y values?
O a bar graph
O a scatter plot
O a line chart
O a pie chart
Answers
Answer:
A. a bar graph is the answer
the nation of turboland produces only two goods, x and y. the prices and final quantities produced of the two goods in 1993 and the base year of 1992 are shown in the table below. price of good x ($) quantity of good x (units) price of good y ($) quantity of good y (units) 1992 (base year) 5 4 10 5 1993 6 6 10 6 what are the nominal gdp and real gdp in 1993?
Answers
Nominal GDP is $96, Real GDP is $90.
The required details for Nominal GDP in given paragraph
Nominal gross home product (GDP) is GDP given in modern prices, with out adjustment for inflation. Current rate estimates of GDP are received via way of means of expressing values of all items and offerings produced within side the modern reporting period. Nominal GDP displays the uncooked numbers in modern bucks unadjusted for inflation. Real GDP adjusts the numbers via way of means of solving the forex value, therefore putting off any distortion resulting from inflation or deflation. Gross home product (GDP) is the marketplace value of all very last items and offerings from a country in a given year. Countries are taken care of via way of means of nominal GDP estimates from monetary and statistical institutions, that are calculated at marketplace or authorities official change costs.
Nominal GDP does now no longer consider variations within side the fee of living in distinctive countries, and the effects can range substantially from twelve months to every other primarily based totally on fluctuations within side the change costs of the country's forex.
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in a company that wants to prevent a union from organizing its workers, the human resource department should encourage supervisors to promise employees that they will receive an extra day off if they don't support the unionization effort.
True or False?
Answers
The human resource department should not engage in any activities that would prevent workers from exercising their legal right to form or join a union.
This includes any actions that could be perceived as coercive or intimidating. Promising employees extra benefits for not supporting the unionization effort would be considered an unfair labor practice and could result in legal consequences for the company. Instead, the company should focus on creating a positive work environment that values its employees and their right to organize, as well as addressing any concerns that workers may have that led them to consider unionization in the first place. The National Labor Relations Act (NLRA) grants workers the right to form or join unions, and it prohibits employers from interfering with that right. This includes prohibiting employers from making any threats, promises, or other coercive tactics that would prevent workers from exercising their right to unionize. The NLRA also establishes penalties for employers who engage in unfair labor practices, including interference with union activities. Therefore, it is important for companies to understand their obligations under the NLRA and to take steps to ensure compliance with its provisions.
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knowledge check 01 a company has beginning inventory of $10,500, purchases of $5,500, and ending inventory of $2,500. the cost of goods sold is .
Answers
The cost of goods sold is $13,500. This represents the total cost incurred to produce the goods that were sold during the given period.
To calculate the cost of goods sold, we need to use the formula:
Cost of Goods Sold = Beginning Inventory + Purchases - Ending Inventory
Beginning Inventory = $10,500
Purchases = $5,500
Ending Inventory = $2,500
Substituting these values into the formula:
Cost of Goods Sold = $10,500 + $5,500 - $2,500
Cost of Goods Sold = $16,500 - $2,500
Cost of Goods Sold = $13500
The COGS amount is important for determining the company's gross profit, as it reflects the direct costs associated with producing the goods sold, such as materials, labor, and direct overhead expenses.
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A company manufactures a product with the following cost data. The company’s production process requires that it produce its products in 1,000 unit increments.
Units Total Cost
10,000 $58,000
11,000 $62,300
12,000 $66,600
13,000 $70,900
What is the average cost per unit when the company manufactures 12,000 units? Round your answer to two decimal places and enter your amount with no dollar sign.
Answers
The average cost per unit when the company manufactures 12,000 units is $5.58.
To calculate the average cost per unit when the company manufactures 12,000 units, we need to determine the total cost for producing 12,000 units and then divide it by the number of units produced.
From the given cost data, we can see that the cost increases by $4,300 for each additional 1,000 units produced. So to produce 12,000 units, the total cost would be:
Total cost for producing 12,000 units = $58,000 + ($4,300 x 2) + ($4,300 x 3) = $66,900
Now we can calculate the average cost per unit:
Average cost per unit = Total cost for producing 12,000 units / Number of units produced = $66,900 / 12,000 = $5.58
Therefore, the average cost per unit when the company manufactures 12,000 units is $5.58.
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WILL GIVE BRAINLIEST!!!!!!!!!!!!!!!!
Answers
Answer:
The photographer uses lines in both the landscape and the people. The field and the people are put in a diagnonal line followed by a horizontal line that ends in a diagonal line. The diagonal lines are effective in creating a focal area because they swiftly carry the viewer's eye into the painting. The lines indicates a feeling of movement or direction. Because the objects are placed diagonally, the picture seems like it is in motion. It cause the viewer's eye to move quickly from one end to another, which creates an illusion of width/ depth.
Explanation:
I hope this is good enough, but you should at more and make it sound better. I had art last semester in high school so I hope I still got these right. Good Luck
Research that's designed to provide information on future guests is called
A: questionnaire
B: Prospect research
C: trend research
D: survey
Answers
Answer:
Prospect Research
Explanation:
just took the test!
When did free trade start with China?
Answers
The United States and China inked a bilateral trade deal and restored diplomatic ties in 1979. As a result, trade between the two countries grew quickly, from $4 billion in that year to nearly $600 billion in 2017.
In a free trade economy, import and export restrictions do not exist. It can also be viewed as the application of the free market theory to international trade. Economic nationalist and left-wing parties, which frequently favor protectionism, the antithesis of free trade, are less likely to support free trade than political parties with economic liberal attitudes. Through the World Trade Organization, the majority of nations today take part in multilateral trade agreements. The best illustration of free trade was provided by Great Britain, which unilaterally reduced import and export regulations and tariffs from the middle of the 19th century until the 1920s. Establishing free trade zones through accords, such as the European Economic Area and the North American Free Trade Agreement, is a different approach.
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When labor productivity increases over time, generally A) it is due to increases in the number of workers B) So do average wages C) It results in higher For prices for goods and services .
Answers
Answer:
The answer is B.
Explanation:
Labour productivity is given as output per unit of labour input.
When output increases in an industry, ceteris paribus, the industry may have to lower prices in order to sell that increase. When output increases(labor productivity increases), workers will demand for higher wages. This is so because the efficiency of the workers has improved and there is need for compensation.
Lilly, Briah, Chloe, and Terry are the directors and equal shareholders of Fantastic Holidayz Pty Ltd, a company that runs an exclusive airline company and operates in several high-rise office buildings in Melbourne. Briah is the Managing Director and Terry is the Chief Financial Officer. Lilly and Chloe are non-executive directors. The Company has adopted a written constitution which contains the following clauses: (36) A directors' meeting may be called by a director giving reasonable notice individually to every other director (37) Quorum for directors' meetings is four directors and the quorum must be always present during the meeting (42) A resolution of the majority of directors may resolve to remove another director of the company. Business is booming, and Fantastic Holidayz has made a great deal of money over the last few years. However, the Board of Directors have rejected Lilly's proposal to declare a dividend for the last 7 years in a row - and she is getting fed up. The other directors always outvote her, arguing that it is better to keep the profits in reserve and continue to expand the business. Terry is currently investigating the possibility of opening further destinations to their itinerary In October 2017 Lilly was overseas for a family funeral and on her return to Melbourne, she discovers that the other directors have met and passed resolutions to remove her as a director of the company. Lilly did not receive any notice of the director's meeting. In another resolution, the remaining directors voted to pay themselves $500,000 in bonuses - equating to the entire year's profit. Lilly is angry that she has been removed and not paid a bonus and comes to you for your professional advice and opinion. Further, Fantastic Holidayz has a longstanding agreement with several travel agencies, and in January 2018, Fantastic's financial accounts showed that one agency owed the company $85,000, and there was no applicable security Recently, Lilly discovered that by June 2018 the debt owing to Fantastic Holidayz had blown out to $200,000. Terry had approved additional credit without the knowledge of the other directors. He did this, even though the agency had been taking a long time to pay its overdue account. Additionally, there are now rumours that are insolvent, but this cannot be proven. REQUIRED: 1. Discuss whether Lilly can bring any action to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses? (5 marks) 2. Advise Lilly about the process and potential outcomes if the travel agency is placed into voluntary administration - and any implications of this on Fantastic Holidayz. (5 marks) 3. Advise Lilly about whether Terry has breached any of his statutory duties as a director of Fantastic Holidayz. Include in your answer the consequences of a breach of duty, whether Lilly could bring an action for compensation on behalf of the company against Terry, and whether there are any defences available.
Answers
It is important for Lilly to consult with a legal professional to assess the specific circumstances and determine the most appropriate course of action. Legal advice tailored to the jurisdiction and applicable laws should be sought.
1. Lilly's Challenge to Dividend Denial and Bonus Payment:
Lilly may have grounds to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses. The key considerations are as follows:
a) Breach of Fiduciary Duty: Directors owe a fiduciary duty to act in the best interests of the company. By consistently rejecting dividends despite profitable operations, the directors may be breaching this duty if their decision is not justifiable and reasonable. The decision to pay themselves bonuses without Lilly's approval further strengthens her case.
b) Unfair Prejudice: Lilly may argue that the denial of dividends and payment of bonuses unfairly prejudice her interests as an equal shareholder and director. This argument can be supported by the fact that dividends have been consistently denied for several years, and the bonuses were paid without her knowledge or consent.
c) Oppression of Minority Shareholder: If the other directors' actions substantially interfere with Lilly's rights as a shareholder and director, it could constitute oppression of a minority shareholder. Denying dividends and paying bonuses in a manner that excludes Lilly's interests may be viewed as oppressive.
Lilly can potentially bring legal action seeking remedies such as an injunction to stop the bonuses, an order for dividends to be paid, or a buyout of her shares at a fair value.
2. Travel Agency in Voluntary Administration:
If the travel agency owing $200,000 to Fantastic Holidayz is placed into voluntary administration, the process and potential outcomes can be summarized as follows:
a) Voluntary Administration: Voluntary administration is a process where an external administrator (usually a registered liquidator) takes control of the insolvent company to maximize returns for creditors. The administrator assesses the company's financial position and explores options, such as restructuring or selling the business.
b) Outcomes and Implications: During voluntary administration, the administrator may propose a Deed of Company Arrangement (DOCA) to the creditors. If approved, it could allow the travel agency to continue operating and repay the debt over an agreed period. Alternatively, if the company's financial situation is deemed irreparable, the administrator may recommend liquidation.
For Fantastic Holidayz, the outcome depends on the recovery of the debt. If the travel agency is unable to repay the owed amount, Fantastic Holidayz may have to write off the debt as a loss, potentially impacting their financial position. The impact could be significant if the debt is material to the company's operations.
3. Terry's Breach of Director's Duties:
Terry, as the Chief Financial Officer and a director of Fantastic Holidayz, may have breached his statutory duties. The key considerations are as follows:
a) Duty of Care and Diligence: Directors must exercise reasonable care, skill, and diligence in fulfilling their roles. Terry's approval of additional credit without the knowledge of other directors could be seen as a failure to exercise due care and diligence. The consequences of a breach may include personal liability for any loss suffered by the company.
b) Duty to Act in Good Faith and for Proper Purpose: Directors must act in good faith and in the best interests of the company. By approving additional credit for a customer with an outstanding overdue account, despite potential insolvency concerns, Terry may have breached this duty.
c) Consequences and Action for Compensation: If Terry is found to have breached his statutory duties, consequences may include personal liability for any loss suffered by the company due to his actions. Lilly, as a shareholder, may have standing to bring a derivative action on behalf of the company to seek compensation from Terry for any losses incurred.
d) Defenses: Terry may raise defenses such as relying on professional advice, acting in good faith, or having the belief that his actions were in the company's best interests. However, these defenses may not absolve him entirely from liability if his actions are found to be unreasonable or against the company's interests.
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What part of the business letter contains the return address
a) Inside address
b) Body
c) Heading
d) Complimentary close
Answers
Answer:
its Heading beacuse you are putting your name and the date
Tammy’s home cost her $184,000. she lives in an area with a lively real estate market, and her home increases in value by 3.5% every year. if tammy sells her home after thirteen years, how much profit will she have made, to the nearest hundred dollars?
a. $8,500
b. $87,800
c. $83,700
d. $103,800 please select the best answer from the choices provided a b c d
Answers
If Tammy sell her house at the future value 13 years later, she will gain profit of $103,800 (D).
Future value is the value of acurrent asset based on an assume rate of growth in the future. Future value is crucial in deciding how much an investment made today will be worthy in the future.
Future value can help an investor to estimate his future profit from an investment he made in the current time. An investor will gain profit if the future value of his investment is higher than its present value.
Future value can be calculated based on the present value of an asset. Future value can be fomulated as:
FV = PV (1+r)ⁿ
where:
PV = present value of an asset
r = the estimated gworth rate
n = number of years
From the case, we know that the present value of Tammy's is $184,000 and the expected growht rate is 3.5%. Hence, we could summarized that:
PV = $184.000
r = 3.5%
n = 13 years
Hence, the future value of Tammy's house is:
FV = PV (1+r)ⁿ
FV = $184,000 (1+3.5%)¹³
FV = $287,767
The profit Tammy could make if she sell her house after 13 years is:
π = FV - PV
π = $287,767 - $183,000
π = $103,767
π ≈$103,800
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Cody invests $3,500 per year from his summer wages at a 4% annual interest rate. He plans to take a European vacation at the end of 4 years when he graduates from college. How much will he have available to spend on his vacation? $15,142.40
$14,560.00
$13,440.00
$14,000.00
$14,862.75
Answers
Cody will have $14,862.75 available to spend on his European vacation at the end of 4 years.
To calculate the total amount Cody will have available, we need to calculate the future value of his annual investments at a 4% interest rate. Cody invests $3,500 per year for 4 years, so his total investment amount is $3,500 * 4 = $14,000.
To calculate the future value, we can use the formula for compound interest:
Future Value = Principal * (1 + Interest Rate)^Number of Years
In this case, the principal is $14,000, the interest rate is 4% (or 0.04 as a decimal), and the number of years is 4. Plugging these values into the formula, we get:
Future Value = $14,000 * \((1 + 0.04)^4\) = $14,862.75
Therefore, Cody will have $14,862.75 available to spend on his European vacation at the end of 4 years.
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polling agency is investigating the voter support for_ regions have equal number of voters ballot measure in an upcoming city election The City is divided in two in them: The agency will select _ random regions Region A and region B. Both population proportion of voters who would sample of 500 voters from one region, Region A of the city Assume that support the ballot measure in Region A is 0.47 . the What is the probability that the proportion of voters in the sample of Region who support the ballot measure greater than 0.50 ? The polling agency will take another sample from different region, Region B, of the city: The the population proportion of voters who would agency plans to select random sample of 400 voters. Assume that support the ballot measure in Region B is 0.51 What is the probability that , measure might pass?
Answers
The polling agency is investigating voter support for a ballot measure in an upcoming city election in regions A and B, which have an equal number of voters.
They plan to select random regions to conduct polls and determine the proportion of voters who support the ballot measure.The polling agency will randomly select two regions, Region A and Region B. A sample of 500 voters will be taken from Region A. Assuming that the proportion of voters who support the ballot measure in Region A is 0.47, the probability that the proportion of voters in the sample of Region A who support the ballot measure is greater than 0.50 is required. This will help to understand if the support for the ballot measure in Region A is significant or not.Using the central limit theorem, we can assume that the sampling distribution is normal because the sample size n = 500 is greater than or equal to 30 and the population proportion of voters who support the ballot measure is greater than or equal to 10
Therefore, we can conclude that there is only a small probability that the support for the ballot measure in Region A is significant, and further analysis is required.
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Although Zappos has around 900,000 unique products in its warehouse, company executives think there is room for more. Zappos is utilizing ______ for this promotion.
Answers
Answer: email marketing
Explanation:
Email marketing is the act of promoting a business, a product or anything worth promoting or an exchange of mail. This emails are sent to existing and prospective customers either telling them of this new product or promoting existing goods and services. Zappos utilizes email marketing for this promotion.
Which of the following are aspects covered by hr management
Answers
hope it helps you plz mark me brilliantest
Answer:
Human resource management (HRM) entails the planning and organization related to the efforts of achieving the full potential of the human resource within any organization. The human resource in an organization includes all the skills and abilities possessed by individual employees within an organization. There is a need to plan and enhance synergy in an organization so that the potential of the human resource can be fully attained.
The personnel aspect deals with recruitment, manpower planning, promotion, selection, training, development, transfer, placement, retrenchment, incentives, remuneration, productivity and layoff.
-Maintains the work structure by updating job requirements and job descriptions for all positions
-Supports organization staff by establishing a recruiting, testing, and interviewing program; counseling managers on candidate selection; conducting and analyzing exit interviews; and recommending changes
-helps employees improve their performance at any given task by establishing and conducting orientation and training programs
-Manages a pay plan by conducting periodic pay surveys; scheduling and conducting job evaluations; preparing pay budgets; monitoring and scheduling individual pay actions; and recommending, planning, and implementing pay structure revisions
-Ensures legal compliance by monitoring and implementing applicable human resource federal and state requirements, conducting investigations, maintaining records, and representing the organization at hearings
What do disability insurance and life insurance have in common?
A.
Both are provided by your employer at the employer’s expense.
B.
Both charge the same amount for the policy premium.
C.
Both cover an unexpected loss of income.
D.
Both cover beneficiaries in the event of your death.
Answers
Answer:
C. Both cover an unexpected loss of income.
Explanation:
Disability Insurance protects against loss of income due to the inability to ask, resulting from injuries. This insurance policy compensates the insured for lost income due to incapacitation.
Life insurance offers protection against loss of income should the insured die. Life insurance pays the insured beneficiaries a specified sum of money as stipulated in the insurance contract. It is an assurance the insured's family will be compensated for the loss of income occasioned by their death.
How did Ray conduct marketing-information management?
Answers
* I ONLY HAVE AN HOUR LEFT*
The relationship between the level of spending and the income earned is :
A)Positive
B)Negative
Answers
Answer:
Positive.
Explanation:
The relationship between the level of spending and the income earned is positive. This implies that there is a relationship in which both indicators run in parallel, so that if income rises, the level of expenses will also tend to rise; While if income falls, the same will necessarily happen with the level of spending.
This occurs for a logical question: the greater the amount of money earned by a person, the greater the amount of money available to him to spend on different goods and services; and vice versa.
What do you understand by the term "Movement along the Aggregate demand
curve"
Answers
When prices rise, there is a decrease in spending and a shift to the left along the curve, whereas when prices fall, there is an increase in spending and a shift to the right along the curve. Understanding these movements is crucial in analyzing the impact of price changes on the overall demand in an economy.
Movement along the aggregate demand curve refers to a change in the quantity demanded of goods and services in an economy in response to a change in the price level, while other factors affecting aggregate demand remain constant. This movement is represented by a change in a specific point along the aggregate demand curve.
In simpler terms, movement along the aggregate demand curve occurs when there is a change in the overall spending habits of consumers and businesses due to a change in prices. When prices rise, consumers and businesses tend to reduce their spending, leading to a decrease in the quantity demanded. Conversely, when prices fall, consumers and businesses are more willing to spend, resulting in an increase in the quantity demanded.
To understand this concept better, let's consider an example. Suppose there is an increase in the price level, which can be caused by factors such as inflation or higher production costs. As a result, the prices of goods and services rise. In response to this increase in prices, consumers and businesses may reduce their spending, leading to a decrease in the quantity demanded. This movement along the aggregate demand curve is shown as a shift to the left.
On the other hand, if there is a decrease in the price level, consumers and businesses may be more willing to spend, as goods and services become more affordable. This increase in spending leads to an increase in the quantity demanded and is represented by a movement along the aggregate demand curve to the right.
In conclusion, movement along the aggregate demand curve refers to changes in the quantity demanded caused by fluctuations in the price level. When prices rise, there is a decrease in spending and a shift to the left along the curve, whereas when prices fall, there is an increase in spending and a shift to the right along the curve. Understanding these movements is crucial in analyzing the impact of price changes on the overall demand in an economy.
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To examine
the weekly payroll of all employees, one would look at the:
Answers
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
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When would it be a good idea to invest your money instead of putting it in a savings
account?
A. When you won't need the money for a long time.
B. When you want to put your money somewhere safe.
C. When you're looking to maintain the value of your money
with a little bit of growth.
D. None of the above
Answers
Productivity, dependability, and responsibility are examples of skills that managers look for when determining who to promote within a company. Evaluate these three skills and another one or two that you come up with and explain how each skill could be helpful for an employee looking to get a promotion.
Answers
A dependable employee is an incredible asset to a company, as they make great coworkers, can be trusted to do their jobs. Productivity and responsibility are important aspects for the promotion.
What is a dependable employee?A dependable employee is a fantastic addition to a company because they make excellent teammates, can be trusted to execute their tasks without micromanagement, and empower others to accomplish their jobs effectively. As a result, being recognized as a dependable employee can help you stand out as an attractive prospect.
Every organization wants a productive employee who is responsible for the success of the organization as well as for his personal gains.
Being reliable implies doing what you say you'll do, when you say you'll do it. A reliable individual fosters trust by keeping himself/herself accountable and, if they lead others, their team members accountable as well.
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Which assumption would a lender most likely make about a person with a credit score around 800?
O that the person has invested a great deal of money in the stock market
O that the person has had very few delinquent payments in the past
O that the person has lived in the same city for a long time
O that the person has avoided using credit cards
Answers
What is the definition of hangry my friend keeps saying it but i dont understand
Answers
Answer:
hangry is when you feel hungry and angry at the same time
Explanation:
basically, your angry because of the fact that your hungry
Icy Mocha Company estimates its factory overhead costs to be $35,000 and machine hours to be 5,000 for the year. If the actual hours worked on Jobs 333 and Jobs 334 total 4,980 and actual factory overhead costs are $34,700, what is the amount of either over- or underapplied factory overhead
Answers
Answer:
$160 overapplied
Explanation:
Icy Mocha company estimates it's factory overhead costs to be $35,000 and machine hours to be 5,000 for a period of one year.
The actual number of hours worked on job 333 and 334 equals a total of 4,980
The actual factory overhead costs are $34,700
The first step is to calculate the predetermined overhead rate
= Overhead costs/machine hours
= $35,000/5,000
= $7
The amount of either over or underapplied factory costs can be calculated as follows
= predetermined overhead rate×actual number of hours worked
= $7×4,980
= $34,860
The amount is then subtracted from the actual overhead costs
= $34,700-$34860
= -$160
= $160 overapplied
Hence the amount of overapplied factory overhead is $160