Machinery purchased for $66,000 by Metlock Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,400 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $4,950 at the end of that time. Assume straight-line depreciation.
Required:
a. Prepare the entry to correct the prior year's depreciation, if necessary.
b. Prepare the entry to record depreciation for 2021.
Answers
Answer:
a. Prepare the entry to correct the prior year's depreciation, if necessary.
When an asset's useful life is extended, the extension is done prospectively, not retrospectively. This means that past depreciation does not need to be adjusted.b. Prepare the entry to record depreciation for 2021.
Dr Depreciation expense 4,510 Cr Accumulated depreciation - machinery 4,510Explanation:
purchase cost of machinery $66,000
estimated useful life 8 years
estimated salvage value $4,400
depreciation has been recorded using the previous basis during the first 5 years, but now the estimated useful life was extended to 10 years and the salvage value = $4,950
depreciation expense per year (during first 5 years) = ($66,000 - $4,400) / 8 = $7,700 per year
accumulated depreciation up to year 5 = $7,700 x 5 = $38,500
the carrying value of the asset on January 1, 2021 = $66,000 - $38,500 = $27,500
the new depreciation expense per year = ($27,500 - $4,950) / 5 = $4,510
depreciation expense for 2021:
Dr Depreciation expense 4,510
Cr Accumulated depreciation - machinery 4,510
Related Questions
The sovereign rating for Vietnam is B2 (with a default spread of 5%), the standard deviation in the Vietnamese equity index is 30% and the standard deviation in the Vietnamese government bond is 24%. If the premium for a mature market (say, the US) is 5.5%, estimate the total equity risk premium for Vietnam.
Answers
Answer:
The total equity risk premium for Vietnam was 11.13 as of January 1st, 2023 according to Damodaran Online. The total equity risk premium starts with a mature market premium and adds a country risk premium based on the risk of the country in question. The country risk premium for Vietnam is estimated to be 5%.
Given that the premium for a mature market (say, the US) is 5.5%, we can estimate the total equity risk premium for Vietnam as follows:
Total Equity Risk Premium = Mature Market Premium + Country Risk Premium Total Equity Risk Premium = 5.5% + 5% Total Equity Risk Premium = 10.5%
Therefore, the estimated total equity risk premium for Vietnam is 10.5%.
I hope this helps!
Explanation:
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Match each situation with the conflict escalation stage that best describes it. Answer Key Terms Descriptions Hardening A. You and your opponent calmly discuss the objective issues involved in the conflict. Fragmentation of the enemy B. Your opponent tells your coworkers that you lied to her about how much money was left in the budget that you both have been discussing how to manage. Images and coalitions C. Rather than discussing the issues the goal becomes winning. You try to mobilize your colleagues to support your position. Loss of face D. Communication with your opponent is ended as winning is no longer possible. The goal becomes outlasting your opponent and destroying her power base.
Answers
Answer:
A. Hardening
B. Loss of face
C. Images and coalitions
D. Fragmentation of the enemy
Explanation:
A conflict can be defined as any form of disagreement that arises between two or more parties due to opposing views, opinions, or incompatibility.
Some examples of the conflict escalation stage includes;
A. Hardening: you and your opponent calmly discuss the objective issues involved in the conflict.
B. Loss of face: your opponent tells your coworkers that you lied to her about how much money was left in the budget that you both have been discussing how to manage. It typically occurs when an individual is accused of lying and would result in attacking the opponent's public personality.
C. Images and coalitions: rather than discussing the issues the goal becomes winning. You try to mobilize your colleagues to support your position.
D. Fragmentation of the enemy: communication with your opponent is ended as winning is no longer possible. The goal becomes outlasting your opponent and destroying her power base.
Dillon Company incurred the following costs while producing 480 units: direct materials, $9 per unit; direct labor, $22 per unit; variable manufacturing overhead, 12 per unit; total fixed manufacturing overhead costs, $7,680; variable selling and administrative costs, $4 per unit; total fixed selling and administrative costs, $4,320. There are no beginning inventories.
What is the unit product cost using variable costing?
A. $72 per unit
B. $59 per unit
C. $47 per unit
D. $43 per unit
Answers
Answer:
The unit cost is $43 per unit
Explanation:
Required
Determine the unit product cost?
Using variable costing, the unit product cost is:
\(Unit = DM+ DL + VMO\)
\(DM = Direct\ Materials =\$9\)
\(DL = Direct\ Labor =\$22\)
\(VMO = Variable\ Manufacturing\ Overhead = \$12\)
So, we have:
\(Unit = \$9 + \$22 + \$12\)
\(Unit = \$43\)
Hence, the unit cost is $43 per unit
How and why would the accounting profession use the results of behavioural research in accounting
Answers
Answer:
Behavioral accounting is a subset of accounting that, in addition to accounting expertise, is concerned with behavior. It is concerned with people's attitudes and behaviors when confronted with an accounting phenomenon, which defines the actions that they will exhibit in decisionmaking. This accounting specialization addresses issues such as human informationprocessing activity, judgement accuracy, accounting problems caused by accounting information users and suppliers, and accounting information users' and producers' decisionmaking skills.
Behavioral psychology seeks to understand how people make choices, communicate with others, and affect economies and societies. The impact of accounting knowledge on conduct, administrative management (budget engagement, nonfinancial interventions, leadership, and balanced scorecard), auditing (auditorclient negotiations, auditor's judgement, and decisionmaking), and ethics (ethical decisionmaking, ethical orientation, and rationalizations for unethical behavior) are all included under the Behavioral accounting definition.
The accounting profession use the results of behavioural research in accounting so that they can understand the behaviour of different entities like a consumer or a retailer and use that in the accounting so that it can help in making a better conclusion.
What is research ?Research is a defined as the whole process of making hypothesis, collection of data; and analysis and interpretation of that data/information, in accordance with suitable methodologies and drawing the conclusion.
Behavioral research tries to find out how individuals make decisions, interact and influence other individuals, organizations, markets, and society. Behavioral research about individuals like consumers is used in accounting to analyze and study about the outcome or result like profits.
So we can say that behavioural research plays an important role in analyzing the data and for drawing the conclusion in accounting.
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discuss five engagement-specific controls to be instituted by an audit firm to ensure quality control
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The five key engagement-specific controls that an audit firm can implement to guarantee quality control throughout an engagement include adequate planning, risk assessment, supervision, documentation, and review.
These measures are taken to ensure the review is completed as per evaluating guidelines and that the ends came to are enough upheld by the accessible information. A survey likewise assists with guaranteeing that the review was completed as per inspecting norms.
Planning aids in characterizing the review's extension, laying out client assumptions, and successfully distributing assets and time. The foundation of fitting strategies to address potential dangers connected with the client's fiscal summaries is supported by risk appraisal.
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Better managing a daily scheduler through effective time management can reduce stress on the job.
Answers
Answer:
Good time management is essential if you are to handle a heavy workload without excessive stress. Time management helps you to reduce long-term stress by giving you direction when you have too much work to do. It puts you in control of where you are going and helps you to increase your productivity
Answer:
it helps put your daily life at relief
Explanation:
I have one problem in solving this accounts question. Please help me to find this answer
Answers
Based on the information, the Account to be debited and Account to be credited so given below.
How to explain the information(a) Bought office machinery on credit from D Isaacs Ltd.
Account to be debited - Office Machinery
Account to be credited - Accounts Payable (D Isaacs Ltd)
(b) The proprietor paid a creditor, C Jones, from his private funds.
Account to be debited - Accounts Payable (C Jones)
Account to be credited - Owner's Equity (Private Funds)
(c) A debtor, N Fox, paid us in cash.
Account to be debited - Cash
Accounts Receivable (N Fox)
(d) Repaid part of loan from P Exeter by cheque.
Account to be debited - Loans Payable (P Exeter)
Cash
(e) Returned some office machinery to D Isaacs Ltd.
Account to be debited - Accounts Payable (D Isaacs Ltd)
Office Machinery
(f) A debtor, N Lyn, pays us by cheque.
Account to be debited - Cash
Accounts Receivable (N Lyn)
(g) Bought van by cash.
Account to be debited - Van
Cash
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If the amount of gasoline purchased per car at a large service station has a population of $15 and a population standard deviation of$4 then 99.73% of all cars will purchase between $3 and $27
Answers
The range between $3 and $27 is three standard deviations away from the mean.
Since we know that 99.73% of the data falls within three standard deviations of the mean, we can estimate that 99.73% of all cars will purchase gasoline between $3 and $27.
According to the given information, the population mean is $15, and the population standard deviation is $4.
This means that 99.73% of all cars will purchase gasoline within three standard deviations of the mean, using the empirical rule.
Therefore, we can use the empirical rule to estimate the percentage of cars that will purchase gasoline between $3 and $27.
The empirical rule is also known as the 68-95-99.7 rule, which states that:Approximately 68% of the data falls within one standard deviation of the meanApproximately 95% of the data falls within two standard deviations of the meanApproximately 99.7% of the data falls within three standard deviations of the mean.
To find the number of standard deviations that correspond to $3 and $27, we need to calculate the z-scores.
The z-score formula is given as:z = (x - μ) / σwhere z is the standard score, x is the value of the variable, μ is the population mean, and σ is the population standard deviation.
To find the z-score for $3, we plug in the values:z = (3 - 15) / 4z = -3To find the z-score for $27, we plug in the values:z = (27 - 15) / 4z = 3.
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Goodies (Pty) Ltd is a retailer of children's toys. The Management Accountant created the sales budgets for the last four months of the financial year ended December 2023. The budget is presented below: Month Cash Sales Credit Sales Total Sales September R 60 000 450 000 510 000 October R 50 000 500 000 550 000 November R 70 000 420 000 490 000 December R 30 000 510 000 540 000 Additional information: Collections regarding credit sales are as follows: . 50% in the month of the sale and is therefore subject to a 4% settlement discount. 25% one month after the month of sale. 20% two months after the month of the sale and the remainder (5%) is uncollectable. Goodies (Pty) Ltd's inventory requirements are 25% of the next month's total budgeted sales amount. Inventory is purchased in the month preceding its expected sale. All inventory purchases are made on credit. The suppliers' terms of payment require that 40% be paid in the month of purchase and the balance (60%) be paid in the month after the month of purchase. Direct wages amount to R15 000 per month. Wages are all paid in cash as they occur. January 2024 sales are expected to comprise of R550 000 credits sales and R30 000 cash sales. The bank is expected to be in an overdraft of R42 000 on 31 October 2023. Selling, distribution, and administrative costs are expected to be 50% of the monthly total sales and include depreciation of R25 000 per month.
prepare a cash budget for Goodies (Pty) Ltd for the months of November 2023 and December 2023.
show all workings
Answers
Based on the cash budget, Goodies (Pty) Ltd is expected to have a bank overdraft of R105 000 at the end of November, which will increase to R241 000 at the end of December.
To prepare the cash budget for Goodies (Pty) Ltd for the months of November and December 2023, we need to take into account the following information:
Sales (cash and credit) for each month
Collections from credit sales
Purchases of inventory
Payments for inventory purchases
Direct wages
Selling, distribution, and administrative costs
Depreciation
Bank overdraft
Using this information, we can prepare the cash budget as follows:
Goodies (Pty) Ltd
Cash Budget for November and December 2023
November December
Cash receipts:
Cash sales R 70 000 R 30 000
Collections from credit sales:
Month of sale R 225 000 R 255 000
1 month after sale R 105 000 R 84 000
Total cash receipts R 400 000 R 369 000
Cash disbursements:
Inventory purchases R 137 500 R 137 500
Direct wages R 15 000 R 15 000
Selling, distribution, and administrative costs R 245 000 R 270 000
Payments for inventory purchases:
Month of purchase R 55 000 R 82 500
1 month after purchase R 82 500 R -
Total cash disbursements R 535 000 R 505 000
Net cash flow (R 135 000) (R 136 000)
Opening bank balance R 30 000 R (105 000)
Closing bank balance R (105 000) R (241 000)
Bank overdraft R (105 000) R (241 000)
Workings:
Collections from credit sales:
Month of sale: 50% of credit sales = (50% x R450 000) + (50% x R420 000) = R435 000
4% settlement discount: 4% x R450 000 = R18 000
Total collections from credit sales in November: R435 000 - R18 000 = R417 000
Total collections from credit sales in December: R420 000 x 50% = R210 000
Purchases of inventory:
December inventory required: 25% x R550 000 = R137 500
Payments for inventory purchases:
November purchases: 40% x R137 500 = R55 000
December purchases: 60% x R137 500 = R82 500
Selling, distribution, and administrative costs:
November: 50% x R490 000 = R245 000
December: 50% x R540 000 = R270 000
Net cash flow:
November: Total cash receipts - Total cash disbursements = R400 000 - R535 000 = (R135 000)
December: Total cash receipts - Total cash disbursements = R369 000 - R505 000 = (R136 000)
Based on the cash budget, Goodies (Pty) Ltd is expected to have a bank overdraft of R105 000 at the end of November, which will increase to R241 000 at the end of December.
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Bonita Companyâs sales budget projects unit sales of part 198Z of 9,000 units in January, 10,600 units in February, and 11,900 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Bonita Company desires its ending raw materials inventory to equal 40% of the next monthâs production requirements, and its ending finished goods inventory to equal 20% of the next monthâs expected unit sales. These goals were met at December 31, 2021.
(a)
Prepare a production budget for January and February 2022.
BONITA COMPANY
Production Budget
choose the accounting period For the Month Ending January 31, 2022For the Two Months Ending February 28, 2022For the Quarter Ending February 28, 2022
January
February
select an opening production budget item Cost Per PoundDesired Pounds in Ending Materials InventoryBeginning Finished Goods InventoryDesired Ending Finished Goods InventoryBeginning Direct MaterialsDirect Materials PurchasesDirect Material Pounds Per UnitTotal Required UnitsTotal Pounds Needed for ProductionRequired Production UnitsTotal Materials RequiredTotal Cost of Direct Materials PurchasesExpected Unit SalesUnits To Be Produced
enter a number of units
enter a number of units
select between addition and deduction AddLess: select an item Total Required UnitsDesired Ending Finished Goods InventoryCost Per PoundTotal Cost of Direct Materials PurchasesDesired Pounds in Ending Materials InventoryBeginning Direct MaterialsTotal Pounds Needed for ProductionRequired Production UnitsDirect Materials PurchasesDirect Material Pounds Per UnitUnits To Be ProducedBeginning Finished Goods InventoryExpected Unit SalesTotal Materials Required
enter a number of units enter a number of units
select a summarizing line for the first part Total Cost of Direct Materials PurchasesRequired Production UnitsDesired Pounds in Ending Materials InventoryTotal Required UnitsTotal Materials RequiredTotal Pounds Needed for ProductionDirect Material Pounds Per UnitDirect Materials PurchasesDesired Ending Finished Goods InventoryUnits To Be ProducedBeginning Direct MaterialsExpected Unit SalesCost Per PoundBeginning Finished Goods Inventory
enter a total number of units for the first part
enter a total number of units for the first part
select between addition and deduction AddLess: select a production budget item Direct Material Pounds Per UnitDirect Materials PurchasesTotal Pounds Needed for ProductionBeginning Direct MaterialsCost Per PoundDesired Ending Finished Goods InventoryRequired Production UnitsTotal Materials RequiredUnits To Be ProducedTotal Required UnitsTotal Cost of Direct Materials PurchasesBeginning Finished Goods InventoryDesired Pounds in Ending Materials InventoryExpected Unit Sales
enter a number of units enter a number of units
select a closing production budget item Desired Ending Finished Goods InventoryTotal Pounds Needed for ProductionExpected Unit SalesTotal Materials RequiredBeginning Direct MaterialsTotal Required UnitsDirect Material Pounds Per UnitCost Per PoundDesired Pounds in Ending Materials InventoryBeginning Finished Goods InventoryTotal Cost of Direct Materials PurchasesUnits To Be ProducedDirect Materials PurchasesRequired Production Units
enter a total number of units enter a total number of units
Answers
The sales budget for Bonita Company forecasts 9,000 unit sales of component 198Z in January, 10,600 units in February. Required Production Units The date is January 9, 320. February 10,860.
A sales budget is a financial plan that forecasts a company's total revenue for a given time period. It forecasts the company's performance based on two factors: the quantity of items sold and the price at which they are sold. The company's management predicted sales of $ 5,000 in quarter one, $ 6,000 in quarter two, $ 7,000 in quarter three, and $ 8,000 in quarter four, with the selling price of $ 6 for the first two quarters and $ 7 for quarter three and quarter four. The sales budget is a planning technique that enables businesses to manage resources and earnings in accordance with predicted sales.
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Which of the following would you classify as a true emergency? A. Overdrawing your checking account B. Losing your job C. Wanting tickets to a sold-out concert D. Having a balance on a credit card with 19.5% interest
Answers
Answer: B
Explanation:
In a process used by Kane Company, conversion cost is incurred uniformly throughout the process. Material is added at the end of the process. Which of the following statements is true?
Answers
The True statement is that "Kane Company must calculate the unit cost of materials and the unit conversion cost separately." Option B
This is further explained below.
What is a conversion cost ?Generally, The manufacturing expenses that are incurred in the process of transforming raw materials into finished goods are referred to as conversion costs.
In cost accounting, the idea is used to determine the value of ending inventory, which is subsequently stated in the balance sheet. This value is then reflected in the financial statements.
The calculation of the unit cost of materials and the unit conversion cost separately will allow for the best overview of the manufacturing process
In conclusion, The assertion that "Kane Company must compute the unit cost of materials and the unit conversion cost separately" is one that is deserving of the label "true." Alternative B
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CQ
In a process used by Kane Company, conversion cost is incurred uniformly throughout the process.
Material is added at the end of the process. Which of the following statements is true?
a. Kane Company cannot use process costing and must use job-order costing.
b. Kane Company must calculate the unit cost of materials and the unit conversion cost
separately.�
c. Kane Company will report the cost of materials with the cost of the ending inventory.
d. Kane Company uses parallel processing.
In one paragraph explain how the US government protects the money you deposit in a bank
Answers
Bank savings accounts, bank CDs, and money market mutual funds administered by brokerage firms like Fidelity are the most popular venues to save cash.
How will my money be safeguarded?The Financial Services Compensation Scheme (FSCS) is the principal form of defence. In case a bank failed, it was designed to protect people's savings
How is the money in a bank secured?One of the many advantages of holding an account with an FDIC-insured bank is deposit insurance, which is how the FDIC safeguards your funds in the unusual case of a bank failure. Every category of account ownership is covered by the basic insurance policy, which provides $250,000 per depositor, each insured bank.
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Property rights protect businesses by:
A. setting a minimum price on all goods in an industry.
B. ensuring that the government cannot regulate their actions.
C. providing them with emergency loans from the government.
D. preventing competitors from copying their products.
Answers
explanation:property rights are similar to copyrights because they help prevent other companies other stealing a business’ ideas
Property rights protect businesses by preventing competitors from copying their products. Thus, option D is correct.
What is a Property right?Property rights are frequently defined as the ability to keep something, like land or a car, and get rid of it whenever one pleases. This, therefore, is but one component of private property than emphasizes the sole right to possession.
There are only three ways to safeguard intellectual property: through patents, registrations, or rights. A patent protects a given product design, a service mark a word, phrase, or pattern, and even a copyright protects a piece of writing.
This will give them an added benefit when it comes to the product. Also, this will help in earning more profit or revenue as they will be the only person who will be responsible for selling that kind of product.
Therefore, option D is the correct option.
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Lux Ladies, Inc., is a company that specializes in expensive and unusual gifts for all occasions. It keeps a large file of information on all of its regular customers, including names, addresses, and type of gifts they have ordered in the past, and the size and frequency of their orders. The electronic file which stores this information is a(n)
Select one:
a. spreadsheet.
b. MP3 file.
c. PERT file.
d. database.
Answers
Option D. The database is the The electronic file which stores this information for the company Lux Ladies, Inc.
What is a database?A database in computing is a structured collection of data that is electronically accessible and stored. Large databases are housed on computer clusters or cloud storage, whilst small databases can be stored on a file system.
A database is a collection of data that has been organized to make it simple to manage and update. Data records or files containing information, including as sales transactions, customer information, financial data, and product information, are often aggregated and stored in computer databases.
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Using a 21 percent rate:Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $31,000 temporary excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in an $18,400 permanent excess of book income over taxable income.Compute the deferred tax asset or deferred tax liability (if any) from a transaction resulting in a $55,000 temporary excess of taxable income over book income.
Answers
Answer:
A) 21% of $31,000 excess of book income over taxable income = $6,510 deferred tax liability.
B) There is no deferred tax asset or liability from permanent book/tax difference.
C) Deferred tax asset or deferred tax liability from a transaction resulting in a $55,000 temporary excess of taxable income over book income: 21% of $55,000 excess of taxable income over book income = $11,550 deferred tax asset.
Hi there !
Topic - Balance sheets
What is a capital expenditure versus a revenue expenditure?
Nonsense = Reported
Please answer A.S.A.P
Thank you
Answers
Answer:
Capital expenditures are typically one-time large purchases of fixed assets that will be used for revenue generation over a longer period while revenue expenditures are typically referred to as ongoing operating expenses, which are short-term expenses that are used in running the daily business operations.
A company pays it's workers 20$ a day .
Is it a fixed cost or variable cost ??
Answers
Answer:
Examples of variable costs are sales commissions, direct costs, cost of materials used in production, and utility costs. ૮(0w0)
Explanation:
Fixed costs remain the same, whether production increases or decreases. Wages paid to workers for their regular hours are a fixed cost. Any extra time they spend on the job is a variable cost. In a factory that makes dresses, the variable costs are the fabric and the used to make the dresses.
A woman who weighs approximately 180 pounds has two "double" mixed drinks in one hour. Which of the following is CORRECT?
Answers
The correct option is that she is likely intoxicated.
What happened due to the drinkingThe effect of alcohol consumption can vary depending on factors such as body weight, tolerance, metabolism, and the specific alcoholic beverages consumed.
Given that the woman in question has had two "double" mixed drinks in one hour, it is possible that she may be impaired or experiencing some level of intoxication.
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A woman who weighs approximately 180 pounds has two "double" mixed drinks in one hour. Which of the following is CORRECT?
•
She is impaired
•
She is not intoxicated.
•
She is likely intoxicated.
She is possibly impaired.
How you see your self can make a great different
in how
you Communicate
Answers
Answer: It is not what you say but how you say it.
Explanation: I have always been a person who communicates well but with my flaws. Sometimes the tone of voice can be betrayed, so it is important to use the right one so that people can feel the warmth of the words. The way things are said is more than what is said. It is not a matter of lying but of saying things in a way that is real but at the same time within a framework of respect.
Select a publicly traded, for-profit company that will be your client. Conduct research about the company by visiting the company website and obtaining a copy of the annual report. Locate three to five additional resources that provide additional data and information about the brand. You will use this research to tell the brand story; share the company vision, mission, and marketing objectives; and describe the strategies and tactics the company is currently using to meet the marketing objectives. You will also perform SWOT analysis based on your research.
Answers
Choose a for-profit, publicly traded company that you want to learn more about. To learn more about the company's brand, go to their website. Get a copy of the most current annual report for the company. Based on your study, conduct a SWOT analysis.
Which two main categories of marketing data are there?Unstructured data and structured data are the two basic types of data used in marketing. Data comes in two basic categories: organized and unstructured. Each offers useful information about your customers.
What types of data are there in digital marketing?Search engine optimization, pay-per-click, social media marketing, content marketing, email marketing, mobile marketing, marketing analytics, and affiliate marketing are the eight key categories that make up digital marketing.
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. What do you understand by term “advertising”. What would happen if ethical advertisement is not followed by businesses? Explain in detail
Answers
Answer:
Ethics means a set of moral principles which govern a person’s behavior or how the activity is conducted. And advertising means a mode of communication between a seller and a buyer.
Thus ethics in advertising means a set of well defined principles which govern the ways of communication taking place between the seller and the buyer. Ethics is the most important feature of the advertising industry. Though there are many benefits of advertising but then there are some points which don’t match the ethical norms of advertising.
An ethical ad is the one which doesn’t lie, doesn’t make fake or false claims and is in the limit of decency.
Nowadays, ads are more exaggerated and a lot of puffing is used. It seems like the advertisers lack knowledge of ethical norms and principles. They just don’t understand and are unable to decide what is correct and what is wrong.
The main area of interest for advertisers is to increase their sales, gain more and more customers, and increase the demand for the product by presenting a well decorated, puffed and colorful ad. They claim that their product is the best, having unique qualities than the competitors, more cost effective, and more beneficial. But most of these ads are found to be false, misleading customers and unethical. The best example of these types of ads is the one which shows evening snacks for the kids, they use coloring and gluing to make the product look glossy and attractive to the consumers who are watching the ads on television and convince them to buy the product without giving a second thought.
Ethics in Advertising is directly related to the purpose of advertising and the nature of advertising. Sometimes exaggerating the ad becomes necessary to prove the benefit of the product. For e.g. a sanitary napkin ad which shows that when the napkin was dropped in a river by some girls, the napkin soaked whole water of the river. Thus, the purpose of advertising was only to inform women about the product quality. Obviously, every woman knows that this cannot practically happen but the ad was accepted. This doesn’t show that the ad was unethical.
Ethics also depends on what we believe. If the advertisers make the ads on the belief that the customers will understand, persuade them to think, and then act on their ads, then this will lead to positive results and the ad may not be called unethical. But at the same time, if advertisers believe that they can fool their customers by showing any impractical things like just clicking fingers will make your home or office fully furnished or just buying a lottery ticket will make you a millionaire, then this is not going to work out for them and will be called as unethical.
Recently, the Vetican issued an article which says ads should follow three moral principles - Truthfulness, Social Responsibility and Upholding Human Dignity.
Generally, big companies never lie as they have to prove their points to various ad regulating bodies. Truth is always said but not completely. Sometimes its better not to reveal the whole truth in the ad but at times truth has to be shown for betterment.
Pharmaceutical Advertising - they help creating awareness, but one catchy point here is that the advertisers show what the medicine can cure but never talk about the side effects of that same thing or the risks involved in intake of it.
Children - children are the major sellers of the ads and the product. They have the power to convince the buyers. But when advertisers are using children in their ad, they should remember not to show them alone doing there work on their own like brushing teeth, playing with toys, or infants holding their own milk bottles as everyone knows that no one will leave their kids unattended while doing all these activities. So showing parents also involved in all activities or things being advertised will be more logical.
Alcohol - till today, there hasn’t come any liquor ad which shows anyone drinking the original liquor. They use mineral water and sodas in their advertisements with their brand name. These types of ads are called surrogate ads. These type of ads are totally unethical when liquor ads are totally banned. Even if there are no advertisements for alcohol, people will continue drinking.
Cigarettes and Tobacco - these products should be never advertised as consumption of these things is directly and badly responsible for cancer and other severe health issues. These as are already banned in countries like India, Norway, Thailand, Finland and Singapore.
Ads for social causes - these types of ads are ethical and are accepted by the people. But ads like condoms and contraceptive pills should be limited, as these are sometimes unethical, and are more likely to loose morality and decency at places where there is no educational knowledge about all these products.
(that is same question on my papers)
what is a good interest rate on a credit card
Answers
However, this may differ from one card to another as well as from one issuer to another. Always choose a credit card with a low interest rate. The best credit card APR is one that is around 10%.
But you might need to visit your neighbourhood bank or credit union to discover one. An APR that is lower than the average would also be regarded favourably by the Federal Reserve, which monitors credit card interest rates. The danger to the bank is the primary cause of the high interest rates on credit cards. If you don't pay your credit card bill, the responsibility falls on the credit card company.
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What impact is Walmart’s acquisition of nontraditional retailers likely to have on the shopping habits of Walmart’s customers?
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Which example best explains the concept of government failure?
A. a failure of governments to meet budgetary needs
B. when government decisions lead to inefficient outcomes
C. the situation in which rebels overtake an established government
D. cessation of government business due to lack of funding
Answers
Answer:
D
Explanation:
The best justify the statement was the concept of government failure is cessation of government business due to lack of funding. Thus, option (d) is correct.
What is government?
The term "government" refers to a legal responsibility or system that is managed and directed by an office, public sector, country, or state. the government imposed the law. The government is keeping a close eye on the public's actions. The government imposed the taxes and laws.
The government are the fail to the main reasons such as economic improper budgeting. The government are the sometimes not performing well in the period of the crises. On the another causes was the corruption. Due to the lack of improper money as the business not run as the reason was the funding.
As a result, the government failure in example cessation of government business due to lack of funding. Therefore, option (d) is correct.
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Aster Inc. uses the LIFO method for calculating its cost of goods sold and inventory. What was the total cost of goods sold on January 27th?
Answers
Answer:
The answer is 7,000
Explanation:I got it right on Plato/edmentum
Anna is separated from her boyfriend, John, while she studies economics and he goes to art school. Even though she wants to call John, Anna is very rational. She realizes that the more she spends on her phone bill, the less money she has left to purchase other goods and services. Anna's demand schedule for phone call to John is given in the table below.
Price (per month) Quantity (Calls per month)
$18 20
14 24
10 28
6 32
2 36
Required:
Using the multipoint curve drawing tool, draw Anna's demand curve for phone calls given the demand schedule above. Properly label your curve.
Answers
Answer:
Kindly check attached picture for drawing of Anna demand curve
Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.9 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.
A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.
Lq =
L =
Wq = hours
W = hours
Pw =
B. Service goals dictate that an arriving customer should not wait for service more than an average of 6 minutes. Is this goal being met? If not, what action do you recommend? Yes or No
C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? If required, round your answer to one decimal place.
------ customer per hour
Will the service goal be met? Yes or No
Answers
A. Operating characteristics:
Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833
B. Service goal: Not met. Action recommended.
C. Mean service rate: 7.5 customers/hour.
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).
A. To compute the operating characteristics of the customer waiting line:
Arrival rate (λ) = 2.9 customers/hour
Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour
Average number of customers in the queue (Lq):
Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017
Average number of customers in the system (L):
L = λ / (μ - λ) ≈ 0.9377
Average waiting time in the queue (Wq):
Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)
Average waiting time in the system (W):
W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)
Probability of a customer waiting in the queue (Pw):
Pw = λ / μ ≈ 0.4833
B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.
Action recommendation: To meet the service goal, I would recommend taking the following actions:
Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.
Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.
Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.
Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.
C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:
Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour
Will the service goal be met? Yes
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.
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in monopolistic competition, compared to a firm with higher marginal cost, a firm with lower marginal cost will set a____price, produce output, and earn _____profits.
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In monopolistic competition, compared to a firm with a higher marginal cost, a firm with a lower marginal cost will set a lower price, produce more output, and earn higher profits.
Why is profit so high in a monopolistic firm compared with a competitive firm?A monopolist's desire to maximize profits is one of its traits. A monopolist can regulate the price and the quantity required because there is no competition in a monopolistic market. By equating a monopoly's marginal cost and marginal revenue, the level of output that maximizes profit can be determined.
The markup is the distinction between the price and the marginal cost. A perfect competition structure has a price that is equal to the marginal cost, hence there is no markup. Although the price is always higher than the marginal cost, monopolistic competition does, however, result in a product markup.
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Bonds that have an option giving the issuer the right to retire them at a stated dollar amount before maturity are known as:A. Callable bonds.B. Serial bonds.C. Convertible bonds.D. Junk bonds.E. Sinking fund bonds.
Answers
Answer:
A. Callable bonds.
Explanation:
The bond that have an option to give the right to the issuer to retired the bond at the stated amount but it should be before the maturity so the same we known as callable bond
Hence, the correct option is A
Therefore all the other options would be incorrect
The same is to be considered and relevant