Bill spent $65,000 for a car that will be utilised 80% for business. In the first year, he could deduct $52000 in depreciation. Because of the luxury constraints, he will only be able to deduct $14400.
Business is the activity of earning a livelihood or generating money by manufacturing, purchasing, and selling items (such as goods and services). It is also "any activity or enterprise embarked into for profit. Having a business name does not remove the business entity from the owner, which means that the owner is accountable and liable for the firm's debts. If the company incurs debts, creditors may seize the owner's personal belongings. Corporate tax rates are not permitted in a firm structure. The proprietor is directly taxed on all business income. In addition, the phrase is sometimes used informally to refer to a business, such as a corporation or cooperative.
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TRUE/FALSE. a business plan is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and multiple choice must be submitted to the city for licensure. the resources and qualifications of the owner(s). the partial amount of the money needed up front. the names of the prospective lending companies.
A business plan is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition.
The above statement is True.
A business plan is a written document that describes in great depth the goals and objectives of a company. A business plan outlines a documented strategy for the company's operations, finances, and marketing. Business plans are used by both new and established businesses.Good plans typically cover all part of the firm, including the market, marketing, finances, employees, and other operating procedures. They are typically very extensive. They demand dedication from everyone, are clear, and are communicated to all corporate personnel.To know more about Business here
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explicit leadership theory is the idea that people have beliefs about how leaders should behave and what they should do for their followers.T/F
According to explicit leadership theory, people have preconceived notions about how leaders ought to act and what they ought to do for their followers, hence this claim is untrue.
What is leadership theory?A leadership theory describes how and why specific individuals take on leadership roles. The focus is on the abilities and behaviors that people can develop to enhance their leadership abilities. Leaders claim that a good leader must possess strong ethics and high moral standards. The outcome will be better the closer they are to their supporters. Additionally, because of their strong bonds, the team members continue to share the leader's inspiration and motivation.
Why is leadership theory important?Theories of leadership explain how and why specific individuals become leaders. They emphasize the personality qualities and actions that individuals could do to develop overall leadership skills. One of the top qualities leaders consider as essential for effective leadership is having strong moral convictions and ethics.
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Although individual labor supply curves, such as the one shown, can be backward bending, the market labor supply curve will tend to be upward sloping across all wage rates. This is because ___-economies of scale dominate the substitution effect at market level. -higher wage rates will draw more people into a given market. -the substitution effect tends to dominate at the market level. -diseconomies of scale dominate the income effect at market level.
Although individual labor supply curves, can be backward bending, market labor supply curve will tend to be upward sloping across all wage rates because higher wage rates will draw more people into a given market.
Give a brief account on labor supply and demand curves.In economics, the labor supply and demand curves are regarded as fundamental ideas. When it comes to labor, supply refers to the quantity of workers on the market, while demand refers to the number of people that a specific business, sector of the economy, or all of it wants to hire. Employers are the demand, whilst employees are the supply. Graphs of the labor market's supply and demand at various salary levels are shown by the labor supply and demand curves. To understand the labor market, or the supply and demand for labor, it is crucial to comprehend these two curves and how they interact.
The curves on the graph change as a result of several factors that will be covered in more detail later in this article that result in increases or decreases in labor supply and demand. Both the consumer and the employee sides of the labor market may be affected by preferences. For instance, if consumers have less preferences for the company's goods, there will be less of a need for those goods overall and less demand for the labor needed to manufacture them. Employees will be willing to work fewer hours for the same pay if they start to value leisure time over work, which will reduce the labor supply and cause the leftward swiveling of the labor supply curve.
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used to identify usage and occupancy of buildings and property, shows how a pooled space is assigned to different occupants. rental space usable space pooled space occupied space
Rental space is used to identify usage and occupancy of buildings and property, shows how a pooled space is assigned to different occupants.
What is difference between Rental space and usable space?When negotiating a lease, it is crucial to grasp the minor differences between usable, rentable, and gross square feet. All three clauses may be present in your lease, but only one is taken into account for determining your actual annual rent expense.
The whole area that belongs exclusively to the tenant is referred to as the space's usable square feet. Consider it as the area designated solely for the usage of your business. The space within your unit is regarded as usable square feet once you enter.
Usable square footage plus a portion of the common area of the building are combined to form rentable square footage.
Hallways and lobby's are examples of common spaces that can be used by all residents of the property.
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What basic economic question is addressed in the press release?
Answer:
for whom to produce
Explanation:
for whom to produce
A listing to find a buyer for each of the following types of properties will usually be for a period of time ranging from six months to one year EXCEPT a. farms.b. commercial properties. c. residential properties. d. industrial properties.
A listing to find buyer for each of types of properties will usually be for period of time ranging from six months to one year except the residential properties.
What is a listing?An organization's shares appearing on the list of securities that are officially traded on a stock market is referred to as being listed in corporate finance. Under certain restrictions, certain stock exchanges permit the listing of shares of foreign corporations as well as dual listing. In most cases, the issuing firm is the one to apply for a listing, however in some nations an exchange can do so, for instance if the company's stock is already being traded informally. Every stock market has its own listing standards or guidelines. Initial listing requirements often include providing a history of financial records going back a few years as well as a sufficient amount of stock, both in terms of absolute value and as a proportion of the total outstanding stock, being offered to the public.
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1. Study the social networks market in the US over the last 10 years. Discuss its competition characteristics using recent data (i.e., market share, customers, profits...)
Which type of competition is achieved in this market? What are the changes in the industry which could lead to a change in market structure?
Oligopolies dominate the US social media market.
The big companies have dominated this sector for a decade.
Data privacy and social media misrepresentation may lead to legislative changes that affect the sector.
What is the social network market?Generally, The social media market in the United States has been highly competitive over the last 10 years, with a number of major players vying for market share.
According to recent data, the top players in the market include Face/book, which has a market share of around 70%, followed by You/Tube (owned by Go/ogle) with a market share of around 20%. Other major players in the market include Twi.t/er, Instag/ram (also owned by Fac/ebook), and Pint/erest.
In terms of customer base, Face/book has the largest number of users in the US, followed by You/Tube and Twitt/er. In terms of profits, Face/book has consistently been the most profitable company in the market, followed by YouT/ube and Tw/itter.
The social media market in the US can be characterized as an oligopoly, where a small number of firms dominate the market. This market structure has been relatively stable over the last decade, with the top players maintaining their dominant positions.
However, there have been some changes in the industry that could lead to a shift in the market structure. For example, the rise of new social media platforms such as Tik/Tok and Clu/bhouse has the potential to disrupt the market and increase competition.
Additionally, increasing concerns about data privacy and the use of social media for misinformation and disinformation could lead to regulatory changes that could impact the industry.
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rewards will only provide short-term motivation. the key is for managers to tap into motivators to ensure long-term motivation
It is true that rewards will only provide short-term motivation, key is for the managers to tap into motivators to ensure the long-term motivation.
What is motivation?The reason why people and other animals start, continue, or stop an activity at a specific time is called motivation. A disposition to participate in goal-directed action is created by forces acting within the agent and are typically defined as motivational states. Different mental states are said to compete with one another, with the strongest state ultimately dictating behavior. The implication of this is that we can be inspired to act even when we don't. Desire is the archetypal mental condition that motivates. However, a number of other conditions, such as goals or views about what one ought to do, can also act as motivation. The word "motive"—which refers to a person's needs, wants, or urges—is the source of the concept of motivation.
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Which 3 of these can you do when you select the Pencil icon on the
bank account tile in the Banking center in Quickbooks online?
In Quickbooks Online, the Pencil icon in the Banking center allows you to perform the following actions on a bank account tile:
Edit the account details: You can use this option to change the name or description of the account, or to update the account balance or other account information.
Reconcile the account: You can use this option to start the process of reconciling the account, which involves comparing the transactions in the bank account to your bank statement to ensure that they match and are up to date.
Deactivate the account: You can use this option to deactivate the account if you no longer want to track transactions for it in Quickbooks. This will remove the account from your list of accounts in the Banking center, but it will not delete the account or any of its transactions from your Quickbooks file.
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The Securities and Exchange Commission (SEC) primarily functions as a(n) ________ body, which oversees the issue and sale of investment securities.
Group of answer choices:
a. adjudicating
b. rule-making
c. supervising
d. investigating
e. emergency
The Securities and Exchange Commission (SEC) primarily functions as supervising body, which oversees issues and sale of the investment securities.
What is a security?An asset that can be traded is a security. However, depending on jurisdiction, term's legal definition can refer to any type of financial instrument. The term "financial instruments" in some jurisdictions expressly excludes the financial products other than stocks and fixed-income securities. Certain products that are similar to the equities and fixed income, such as equity warrants, are included in some countries. Certificates can be registered or bearer, with registered certificates entitling the holder to rights only if they appear on a security register kept by the issuer or an intermediary. Bearer certificates grant rights to the holder simply by holding the security. They consist of limited partnership units, stock options, other options, shares of corporate stock or mutual funds, bonds issued by businesses or governmental bodies, and shares of stocks or other securities.
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economies are economic systems where some allocation of resources is made by the market and some by the government. multiple choice free-market command mixed socialist
Mixed economies are the economic systems where some allocation of the resources is made by market and some by government.
What is a mixed economy?According to several definitions, a mixed economy is an economic system that combines aspects of a market economy with aspects of a planned economy, markets and state interventionism, or private industry with public enterprise. There is no single definition of a mixed economy; however, one definition focuses on a mix of markets and state interventionism, referring specifically to a capitalist market economy with strict regulatory monitoring and substantial market interventions. The idea behind a mixed economy, as promoted by John Maynard Keynes and others, was not to give up the capitalist mode of production but rather to keep a disproportionate amount of private ownership and control over the means of production, to profit-seeking enterprise as well as the accumulation of capital as its primary driving forces.
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tarbell offers many reasons for how the standard oil company was able to grow in power. which of the following does she include? check all that apply.
Utilizing the advantages offered at the time to expanding enterprises, Standard Oil profited.
Enticements and examples are what?Incentives are prizes or bonuses offered to promote wholesome workplace behavior. Increased vacation time, tuition reimbursement, and flexibility in work arrangements are just a few of the many various ways they can be found.
The importance of rewardsEmployee incentives and rewards benefit both employees and companies when it comes to retention. Praising employees for their performance and productivity can boost their morale, satisfaction at work, and motivation to help organizations reach their goals.
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A change from an inappropriate use or application of accounting principle in prior years to an acceptable accounting principle in the current year ______.
A change from an inappropriate use or application of accounting principle in prior years to an acceptable accounting principle in the current year requires the prior-period financial statements to be restated retroactively, requires an explanatory paragraph to highlight a lack of comparability.
What Are Accounting Principles?
The rules and regulations that businesses and other organizations must abide by when reporting financial data are known as accounting principles. The language and procedures that accountants must employ are standardized by these guidelines, making it simpler to analyze financial data.
Five key concepts underlie accounting procedures and the creation of financial statements, despite the fact that there are many rules for accountants. The accrual principle, matching principle, historic cost principle, conservative principle, and the concept of content over form are those.
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A broker or sales associate who owns interest in a title company that they recommend to a buyer is required to:
Answer:
A salesman or saleswoman is a person whose job it is to sell goods or services within a specific territory, in a physical location, or over the phone.
Who typically foots the bill for a salesperson who works independently?
Independent contractors are in charge of covering their own income taxes as well as Social Security and Medicare. The hiring broker is not permitted to withhold any money from the earnings. A licensed real estate salesperson and broker agreed in writing that the salesperson is not an employee of the broker.
The broker for the listed salesperson earned the following sum:
$329,985 5% 60% = $9,899.55
The listing broker kept the following sum:
$9,899.55 30% = $2969.87 (rounded to the nearest cent).
Earnings of the salesperson:
$9,899.55 - $2,969.87 = $6,929.68.
Explanation:
A real estate investor thinks the real estate market has bottomed out. One of the variables he examined to arrive at this conclusion was the proportion of houses sold at or above the asking price. In 2010, the proportion of houses sold at or above the asking price was 14%. The real estate investor takes a random sample of 40 recently sold houses and finds that nine of them are selling at or above the asking price.
a. Specify the population parameter to be tested.
b. Specify the null and alternative hypotheses to determine whether the proportion of houses sold at or above the asking price has increased.
c. Calculate the value of the test statistic and the p-value.
d. At the 10% significance level, can you conclude that the proportion of houses sold at or above the asking price has increased?
We would set up the hypothesis test. This is a test of a single population mean since we are dealing with mean
How do you recognize a null hypothesis?An example of a null hypothesis is one that asserts that no statistical significance can be found in a collection of provided observations. A hypothesis is tested using sample data to see how plausible it is. It is represented as H0 and is occasionally referred to as simply the "null." The words "no effect," "no difference," or "no relationship" is frequently used in null hypotheses. We would set up the hypothesis test. As this is the test of a single population mean since we are dealing with mean.
a) For the null hypothesis,
p = 0.14
For the alternative hypothesis,
p > 0.14
It is a right tailed test
Considering the population proportion, probability of success, p = 0.14
q = probability of failure = 1 - p
q = 1 - 0.14 = 0.86
Considering the sample,
Sample proportion, p = x/n
Given:
x = number of success = 9
n = number of samples = 40
P = 9/40 = 0.225
We would determine the test statistic which is the z score
z = (P - p)/√pq/n
z = (0.225 - 0.14)/√(0.14 × 0.86)/40 = 1.55
Since it is a right tailed test, we would determine the p value for the area above z = 1.55 from the normal distribution table.
P value = 1 - 0.9394 = 0.0606
Since the significance level, 0.1 > the p value, 0.0606, then we would reject the null hypothesis.
Therefore, at the 10% significance level, you can conclude that the proportion of houses sold at or above the asking price has increased.
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real estate is property, which can be either a tangible or an intangible asset. which of the following would be considered an intangible asset?
The "real property," real estate is technically land plus any other tangible improvement that might rest upon it or be installed in it.
What Is Real Estate?The term "real estate" refers to the land as well as any permanent structures, such as a house, or improvements attached to the land, whether natural or man-made.
Real estate is a type of property. Personal property, such as vehicles, boats, jewellery, furniture, and farm equipment, is not permanently attached to the land. Real estate is defined as land and anything permanently attached to it or built on it, whether natural or man-made.
Residential, commercial, industrial, raw land, and special use are the five main types of real estate. Buying a home, a rental property, or land is all part of investing in real estate. Indirect real estate investment can be made through REITs or pooled real estate investment.
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in litigation where the contract included both a good and a service - such as a surgical procedure inserting a plastic port into a blood vessel
legality and enforceability. ( The basic elements necessary for a contract to be a legally enforceable contract are: mutual consent expressed by valid offer and acceptance; due consideration; capacity; and legality.)
What exactly is a lawsuit contract?
In the case of a contract dispute, imagine the outcome. Legal contracts, particularly business contracts, can be extremely complex, with litigation involving issues such as proving the meaning and intent of a contract’s terms, reviewing the terms’ legality and enforceability, determining which elements, if any, have been breached and, if so, determining what damages are owed.
The insertion of a port catheter is a simple procedure that needs a one-inch skin incision. This port incision is done beneath the collarbone using local anesthesia. The catheter is attached to the port, which is then put beneath the skin and into the neck vein, and the port is also implanted behind the skin.
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Consider a town in which only two residents, Hubert and Kate, own wells that produce water safe for drinking. Hubert and Kate can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water.
(a.) Suppose Hubert and Kate form a cartel and behave as a monopolist. What is the profit-maximizing price per gallon and total output in gallons? As part of their cartel agreement, Hubert and Kate agree to split production equally. What is Hubert's profit and Kate's profit?
(b.) Suppose that Hubert and Kate have been successfully operating as a cartel. They each charge the monopoly price and sell half of the monopoly quantity. Then one night before going to sleep Hubert says to himself, "Kate and I aren't the best of friends anyway. If I increase my production to 35 gallons more than the cartel amount, I can increase my profit even though her profit goes down. I will do that starting tomorrow. After Hubert implements his new plan, what is the price of water per gallon? Given Kate's and Hubert's production levels, what are their profits now?
(c.) Because Hubert has deviated from the cartel agreement and increased his output of water to 35 gallons more than the cartel amount, Kate decides that she will also increase her production to 35 gallons more than the cartel amount. After Kate increases her production, what are Hubert?s, Kate?s and total profits now?
(a.) Marginal revenue equals zero when total revenue stops increasing as output expands and starts to decrease. From the table, total revenue reaches a maximum of $378.00 at 210 gallons. The price per gallon at that output is $1.80. Hubert's and Kate's profits are both $189 (i.e., $378/2).
(b.) After Hubert expands his output by 35, total output becomes 245 (i.e., 210+35). From the table, the price per gallon then falls to $1.50 per gallon. Total profit falls to $367.50. Assuming Kate must still be given her previous level of profits, she continues to get $189, leaving only $178.50 for Hubert. Of course, if they share the reduced profits equally, each will get $183.75.
(c.) If Kate follows Hubert and expands her output by 35 gallons, total output will now be 280. From the table, price will fall to $1.20 per gallon and total profit will be $336. Sharing profits equally now gives each $168.
In accounting, sales is the overall quantity of income generated by way of the sale of products and offerings related to the primary operations of the commercial enterprise. Industrial sales will also be known as income or as turnover. a few organizations receive revenue from interest, royalties, or different prices. "Sales" may additionally seek advice from profits in preferred, or it could check with the quantity, in a monetary unit.
Earnings or internet income commonly imply overall sales minus total expenses in a given length. In accounting, within the stability statement, revenue is a subsection of the fairness segment and revenue will increase equity, it's miles frequently referred to as the "top line" due to its position on the income declaration on the very pinnacle. This is to be contrasted with the "backside line" which denotes internet earnings (gross revenues minus overall costs).
In general usage, sales is the full amount of profits with the aid of the sale of products or offerings related to the enterprise's operations. income sales is profits acquired from selling goods or offerings over a time frame. Tax sales is profits that a central authority gets from taxpayers. Fundraising sales is profits received by way of a charity from donors and so forth. to in addition its social functions.
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in preparing a company's statement of cash flows using the indirect method, the following information is available: net income $ 69,000 accounts payable increased by 35,000 accounts receivable decreased by 59,000 inventories decreased by 22,000 cash dividends paid 31,000 depreciation expense 54,000
Net cash provided by operating activities = Net income + Depreciation expense - Changes in working capital
= $69,000 + $54,000 - ($35,000 + $59,000 + $22,000)
= $69,000 + $54,000 - $116,000
= $7,000
Therefore, the net cash provided by operating activities was $7,000.
How to use Indirect Method?
To calculate net cash provided by operating activities using the indirect method, you will need to start with the net income of $69,000 and make adjustments for non-cash items and changes in working capital. Non-cash items include depreciation expense, which in this case is $54,000.
How to calculate working capital?To calculate the changes in working capital, you will need to consider the changes in accounts payable, accounts receivable, and inventory. In this case, accounts payable increased by $35,000, accounts receivable decreased by $59,000, and inventory decreased by $22,000.
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The party who has taken commercial paper in good faith and for value, before maturity, and without actual or constructive notice of any defects in the instrument is a(n): ____.
An individual who purchases commercial paper in good faith, for value, before to maturity, but without actual or creative knowledge of any flaws in the instrument is referred to as a "holder in due course."
A holder in due time has what significance and what does it represent to commercial paper?An individual who receive income by check is referred to as a Holder in Due Course. The person accepting the check must not be aware of any fraud that may have occurred in connection with the check in the past, and the check itself must not contain any evidence of fraud.
"Holder in due course" refers to a person who takes or retains a negotiable instrument, such as a check or promissory note, in good faith and in return for anything of value without knowing or having reason to believe that the instrument is past due or a dishonoured instrument.
Who is a holder in good standing according to the requirements? What privileges does a holder have?A "holder in due process" is a person who lawfully obtains a negotiable instrument in exchange for an unpaid obligation (HDC). Holder is not permitted to take legal action against any prior parties. A holder may in good faith bring suit against any earlier parties. A honest attempt to obtain the instrument varies in possibility.
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TRUE/FALSE. a group of police officers takes an annual examination which will qualify them for additional trainings and possible promotion. the pool of test takers includes 40% minorities. when the test results are returned, half of the non- minority applicants passed and none of the minority applicants passed. the county invalidated all test results.
A group of police officers takes an annual examination which will qualify them for additional trainings and possible promotion is true.
Does "exam" really imply "exam"?Exam is shortened for examination and comes from student slang from the 19th century. Questions that assess a student's knowledge make up an exam, which often happens in class. Sometimes the term refers to a particular type of medical examination, such as an eye exam, dental examination, or physical examination.
Why is testing important?Exams are a great way to determine how much knowledge students have in a given subject. Exams will highlight which topics in the course each student seems to have retained and demonstrated the most interest in. Because every student is different, exams are a terrific way for teachers to get to know their students better.
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Refer to Exhibit 3-8. A price of $1 will result in a ___________________ in this market which will cause the price of the product to gravitate ________________.
O surplus; downward O shortage; upward O shortage; downward O surplus; upward
Refer to Exhibit 3-8. A price of $1 will result in a shortage in this market which will cause the price of the product to gravitate upward.
In the sphere of economics, a marketplace is a set of mechanisms that permit for the alternate of products and offerings among events. The majority of markets depend on dealers supplying their items or offerings to clients in alternate for money, but events can also additionally alternate items and offerings with the aid of using barter.
It is viable to outline a marketplace because the mechanism with the aid of using which the expenses of products and offerings are decided. Markets offer for the distribution and allocation of assets in a network in addition to the facilitation of trade. Any tradable suitable may be assessed and valued in a marketplace.
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One way trade helps Us Businesses and workers?
Answer:
1: A
2:C
3:B
4:D
5:B
7:C
8:C
9:A
10:D
Explanation:
I guessed for most of these I'm p sure they're correct tho
Anil sells television advertising time for one of the major radio stations in San Francisco. While talking to a local retailer, Anil was told, "All of your station's advertising time costs three times as much as my favorite radio station." Anil responded, "If you look carefully at our rate card, you will see that the costs you refer to are only for drive time. The rest of our rates are competitive with that other station, and we have twice as many listeners." Anil was using the _____ method to respond to a buyer's objections.
Anil sells television advertising time for one of the major radio stations in San Francisco. While talking to a local retailer, Anil was told, "All of your station's advertising time costs three times as much as my favorite radio station." Anil responded, "If you look carefully at our rate card, you will see that the costs you refer to are only for drive time. The rest of our rates are competitive with that other station, and we have twice as many listeners." Anil used the direct denial method to respond to a buyer's objections.
Radio publicizes provide real-time facts, and some that broadcast 24 hours a day, can give the maximum latest updates to listeners. Radio has the potential to reach across borders and can end up with a precious supply of facts wherein reliable news is scarce. The “radio station” or “station” method is a station geared up to interact in radio communication or radio transmission of strength.
Radio gives brief lead instances and comparatively low-cost production, making it ideal for selling tactical advertising and marketing messages at quick awareness. it's miles a highly cost-green medium – you purchase more target audience impressions to your money than with some other medium (see chart underneath). according to the most lately available information, in 2022 simply 12.2 percent of surveyed radio stations pronounced that they had been showing a profit, much less than half of the determine said for the year 2000.
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one argument against businesses championing social responsibility issues is that businesses already have too much power T/F
This assertion is accurate. The idea that firms currently wield too much influence is one argument against them supporting social responsibility problems.
What are corporate social responsibility's defenses?Due to the funds set aside by the company for social assistance, the cost of the company's goods and services are increased. Lack of social skills: Businessmen are supposedly unable to adequately address social concerns because they lack a thorough understanding of them.
Do you believe that companies have an obligation to the community?Advocates for corporate social responsibility point out that as companies are "fictitious persons," created by law, and supported by public funds with limited accountability for shareholders, they have responsibilities to society that go beyond that of the sole proprietorships or partnerships.
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a bailment for the sole benefit of a bailee usually results in a: gifting transaction. spring transaction. declarative transaction. borrowing/lending transaction.
A bailment for the sole benefit of a bailee usually results in a borrowing/lending transaction.
In a common law bailment, the owner temporarily transfers physical possession of personal property while retaining ownership. The person who accepts ownership of a property is known as a "bailee," while the owner who relinquishes control is known as the "bailor."There are three different kinds of bailments: those that are advantageous to both parties, those that are solely advantageous to the bailor, and those that are only advantageous to the bailee. Regardless of the manner of bailment, the bailee is always required to treat the bailor's property with reasonable care.
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Northern Corporation sold goods to Eastern Enterprises for $1,000 on account. Cost of goods sold was $745. Northern uses a perpetual inventory system and special journals. The cost of goods sold is recorded in the ________ column of the sales journal.
A. Sales Revenue DR, Accounts Receivable CR B. Cost of Goods Sold CR, Merchandise Inventory DR C. Accounts Receivable DR, Sales Revenue CR D. Cost of Goods Sold DR, Merchandise Inventory CR
The cost of goods sold is recorded in the Cost of Goods Sold DR Merchandise Inventory CR column of the sales journal.
Under the perpetual inventory technique, the cost of goods sold account is debited and the merchandise account is credited to reflect the cost of goods sold. As a result, the journal entry will be Cost of goods sold account debit, To Merchandise inventory account credit.
The cost of goods sold is the price ascribed to the items or services that correspond to customer sales. In the case of products, this often refers to items that have been physically dispatched to consumers, but it can also refer to items that are still on the company's premises under bill and hold arrangements with customers. In either situation, the accountant must deduct the quantity of products dispatched to customers or identified as customer-owned under a bill and hold agreement from closing inventory.
Merchandise inventory (also known as Inventory) is a current asset with a typical debit balance, which means that a debit will rise and a credit will fall. Management need inventory information to calculate the cost of products sold in any accounting period.
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Ten years ago, Mr. Pott paid $8 per share for 1,800 shares of Drago stock. Mr. Pott learned that Drago is in bankruptcy and can pay only 30 percent of its debt. What are the tax consequences to Mr. Pott of Drago’s bankruptcy?
The cost of shares acquired= 1800*8= 14,400. After that amount payable after we minus 30% would be 10,080$.
By shares, what do you mean?Units of equity ownership in a firm are called shares. For some businesses, shares are a form of financial property that guarantee an equitable dividend distribution of any declared residual earnings. A company that does not pay dividends does not distribute its income to its shareholders.
Why do individuals invest in stocks?In order to obtain exposure to the health and growth of the global economy as well as a specific firm, people acquire and trade shares. Depending on whether your interest is long- or short-term, you will decide whether to buy in stocks or trade on their price.
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which of the following is the best example of a scarce factor of production? responses money money food food air air, airplanes airplanes established knowledge
The land is a scant component of creation. Other scant elements incorporate work, capital, and business.
The elements of creation are the data sources used to deliver a decent or administration to deliver pay. Market analysts characterize four variables of creation: land, work, capital, and business venture. These can be viewed as the structure blocks of an economy
Characterize the three elements of creation — work, capital, and normal assets. Make sense of the job of innovation and business visionaries in the use of the economy's elements of creation.
The elements of creation are the data sources used to deliver a decent or administration to deliver pay. Market analysts characterize four variables of creation: land, work, capital, and business venture. These can be viewed as the structural blocks of an economy.
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Answer: Airplanes are an example of a scarce factor of production.
Explanation: Factors of production are the inputs utilized in producing goods and services. For something to be considered a scarce factor of production, it must have a limited supply and play a direct role in the production process.
1. Money: Money is a medium of exchange and a store of value, but it is not a direct factor of production. It acts as a facilitator for procuring factors of production but doesn't contribute directly to the creation of goods or services.
2. Food: While essential for life, food is generally a final product or consumable. As a whole, it is not a primary factor of production, though individual components or ingredients might be.
3. Flour: Flour is an ingredient and a raw material in the food industry. It contributes directly to the production of various food items. However, in a broader economic context, it is not typically categorized as a factor of production like capital goods or land.
4. Airplanes: In the context of transportation, trade, and communication, airplanes are indeed capital goods, which are a recognized factor of production. Their production requires significant resources, and there's a limited supply based on production capacity and demand. Thus, airplanes can be considered a scarce factor of production, especially in contexts like the airline industry.
5. Established knowledge: While knowledge is valuable, especially in the information and technology sectors, established knowledge becomes widely available once discovered or created. It's not "scarce" in the traditional sense since it can be shared almost infinitely.
unions are rare when senior management treats first-line supervisors and middle managers as secondary members of management.
It is true that unions are rare when the senior management treats first-line supervisors and the middle managers as secondary members of management.
What is senior management?Senior management typically refers to those individuals who are in charge of running a firm or corporation on a daily basis and are at the highest level of management within an organization. Executive managers exercise executive powers that have been granted to them by a board of directors and/or the shareholders. Higher levels of authority do exist, such as a board of directors and people who own the corporation, but they are typically more concerned with controlling senior or executive management than they are with the day-to-day operations of the company. The senior management of a company is often made up of the heads of its product and/or geographic groups as well as functional leaders like the chief financial officer, chief operating officer, and chief strategy officer. In project management, senior management approves project funds.
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