the historical cost principle requires that when assets are acquired, they be recorded at
The historical cost principle requires that when assets are acquired, they be recorded at cost.
The historical cost principle is an accounting principle under the US GAAP. It entails recording the cost of an asset on the balance sheet at the cost with which the asset was purchased regardless of the changes in the value of the asset.
For example, if a machine was purchased at a cost of £2000. If the historical cost principle is used, the machine would be recorded at £2000 on the balance sheet.
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the diffusion of innovation refers to the rate at which consumers ______ a given product or service.
Answer:
adopt
Explanation:
which term denotes the response of a cost to the change in business activity
Explanation:
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The terms is used to denote the response of a cost to the change in business activity is Cost behavior.
Cost behavior is used as a tool to show or indicate how a cost will alter or chang in total when there is a change in some activity.
There are three types of cost behavior. Cost Behavior Analysis is simply known as the study of how specific cost respond to changes in the level of business activity.
Conclusively, its knowledge will helps management plan operations and decide between alternative courses of action.
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which of the following is not one of the six functional areas of business that sits on a foundation of business law?
Answer:
state and federal taxation
Explanation:
The following events took place at a manufacturing company for the current year: (1) Purchased $95,000 in direct materials. (2) Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600. (3) Other manufacturing overhead was $107,000, excluding indirect labor. (4) Transferred 80% of the materials to the manufacturing assembly line. (5) Completed 65% of the Work-in-Process during the year. (6) Sold 85% of the completed goods. (7) There were no beginning inventories. What is the journal entry to record the direct labor costs for the period
The journal entry to record the direct labor costs includes a Debit to Work-In-Process Inventory and Credit to Wages Payable.
Basically, in manufacturing account, the Direct labor cost refers to the wages/salaries that are incurred in order to produce/provide goods or services to customers
In order to record the direct labor costs for a period, the journal entry will includes a Debit to Work-In-Process Inventory and Credit to Wages Payable.
in this question from Number 2, the incurred direct labor costs is $56,000. Therefore, there will be a Debit of 56,000 to Work-In-Process Inventory and Credit of $56,000 to Wages Payable.
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a loss that is judged to be probable and for which the amount is reasonably estimable should be
Answer:recorded
Explanation:
The loss that its amount is reasonably estimable and judged to be probable should be recorded.
In accounting, the outcome of the preparation of the Income statement is to determine the profit or loss generated by the company in an accounting year.
Because an account is prepared annually, then, an loss that is more probable and can be estimated is expected to be recorded.
Therefore, the loss that its amount is reasonably estimable and judged to be probable should be recorded.
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Head Time is a local salon that requires all its stylists to graduate from a recognized hairstyling institute and pass the state licensing examination prior to joining work. Due to strict customer service requirements and potential lawsuits resulting from inadequate knowledge regarding the use and care of certain chemicals and solutions, this business can clearly justify its hiring criteria ________.
Answer:
educational
Explanation:
if firms can set appropriate service criteria, train employees to meet and exceed those criteria, and measure service performance, they generally can close the ________ gap.
If firms can set appropriate service criteria, train employees to meet and exceed those criteria, and measure service performance, they generally can close the Performance Gap.
This is because the Performance Gap is a type of gap that arises when there is a difference in the performance of the employees against the employer's expectation.
It is often described as the difference between the current service situation and the intended service situation.
Many things or factors can cause a performance gap; some of the major factors that lead to the performance gap include the following:
Inadequacy of job knowledge. Amending job requirements. Inadequacy of understanding of the role due to improper hiring.Hence, in this case, it is concluded that closing the performance gap can make employees meet and exceed the appropriate service criteria of the firm.
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Why is it important for a company to have structure?:
Answer: Organizational structure provides guidance to all employees by laying out the official reporting relationships that govern the workflow of the company. A formal outline of a company's structure makes it easier to add new positions in the company, as well, providing a flexible and ready means for growth.
Explanation:
All of the following are true of Section II of the Businessowners Coverage Form, except: A Bodily injury coverage does not apply to rendering or failure to render professional services B Includes the cost of defending the insured C A personal injury loss must be committed in the coverage territory during the policy period D Business liability coverage applies to damage to an insured's property or work
All of the following are true of Section II of the Businessowners Coverage Form, except Business liability coverage applies to damage to an insured's property or work. The correct option is D. coverage that safeguards an organization against claims for bodily injury, property damage, or personal injury resulting from the insured's actions or inactions, up to the policy limits.
What does a business owner's policy cover?A business owner's policy, also known as a BOP, offers financial protection to small business owners in the event that their operations are abruptly halted due to a covered loss. This policy safeguards your inventory, buildings, and equipment.
Buildings are commonly included in the properties covered by a BOP. Additionally, the BOP will cover any property owned by the business or by a third party temporarily kept in the company or business owner's care, custody, or control.
Thus, the ideal selection is option D.
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What are the effects of unanticipated deflation? Multiple select question. The real incomes of people with fixed nominal incomes will increase. The purchasing power of savings will increase. The real value of fixed-monetary assets will decline. Creditors will benefit at the expense of debtors.
Unanticipated deflation involves the sudden decrease in the prices of goods and services .The effects of unanticipated deflation include
The purchasing power of savings will increaseCreditors will benefit at the expense of debtors.The real value of fixed-monetary assets will declineThe purchasing power of savings will increase as the prices of goods and services has reduced thereby giving rise to buying more with the same amount of money.
Other effects include creditors benefiting at the expense of debtors and the real value of fixed-monetary assets being on the decline.
However, the real value of real incomes of people with fixed nominal incomes will not increase as no change occurs when dealing with deflation as there is usually no adjustments.
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Do you believe that employees communication helps on a business?
Answer:
Yea I do cus the more people understand each other the more things go by smoothly, you know there's a saying, ✨communication✨ is the answer
what do you mean by Producer's Equilibrium ?????
Answer:
it is refered to as profit maximization condition
Answer:
it is refered to as profit maximization condition
It's ne Lilly unnie
the emergence of ride sharing apps like lyft and uber have created gains from trade by
The emergence of ride sharing apps like Lyft and Uber have created gains from trade by introducing new sellers into the market for taxi services and decreasing the price of rides.
Gains from trade can be described as the increase in consumer surplus and producer surplus as a result of lower tariffs when consumers and producers are allowed to trade with less restrictions. Gains from trade occurs as a result of lower trade prices.
Ride sharing apps are apps that allow people to order for rides from their phones using an app. Examples are uber and lyft.
Ride sharing apps has increased the amount of ride options available to users. This has lead to lower prices as ride sharing apps have lowered prices to attract customers.
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the erie canal connected industry and consumers in the east with what group?
The Erie canal was able to connect industries and consumers in the east with c. Midwestern farmers.
The Erie Canal:
Was completed in 1825Connected New York City and the Great Lakes Allowed for goods to be shipped to and from the New York to the Great LakesThe Great Lakes were accessible to farmers in the midwestern region and after the Erie Canal was built, farmers were able to send their produce via the Great Lakes and through the Erie Canal to New York City where it could be purchased by industries and people or shipped internationally.
In conclusion, the Erie canal was very important to midwestern farmers as it increased their reach.
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Options for this question include:
a. Southern planters
b. Canadian fur traders
c. Midwestern farmers
d. New England fishers
Please help, <3
Analyze two pricing strategies for their advantages and disadvantages and give reasons for a business to use each of those pricing strategies.
hope it helps
__________________ innovations are new and useful products that change everything, but particularly customer behavior. __________________ innovations are new and useful products that change everything, but particularly customer behavior. Dynamically continuous Discontinuous Continuous Dynamically discontinuous
Answer: Discontinuous
Explanation: I hope this helps
Which of the following is a characteristic of a service?
A. Can be stored
B. Can be repeated in exactly the same way
C. Mass produced
D. Intangible
Answer:
D.Intangible
Explanation:
Because three characteristics of service are: intangibility, inseparability, variability
The correct answer is D. Intangible. is a characteristic of a service
What are servicesServices are intangible in nature. This means that they do not have a physical presence and cannot be touched or held like physical goods. This is one of the key characteristics that differentiates a service from a product.
Options A, B, and C are typically characteristics of goods, not services:
A. Services cannot be stored for later use like physical goods.
B. Due to the human aspect involved in delivering services, they may not be repeated in exactly the same way each time.
C. Services are generally customized to the individual customer and are not mass-produced in the same sense as physical goods.
Option D is therefore a service characteristic.
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Fill in the blank. . Roughly ___ million trademarks are registered with the U.S. government.
A. 10
B. 12
C. 2
D. 5
Roughly 2 million trademarks are registered with the U.S. government.
What is a Registered Trademark?This refers to the intellectual property of an individual or business that is duly registered and bears a mark, sign or symbol.
Hence, we can see that according to the official count, there are about 1.9 million trademarks that are registered with the American government, and thus, when roughly stated, one can say that they are 2 million and option C is correct.
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A corporation has issued $100 par, 8% cumulative convertible preferred stock, callable at par. The preferred is convertible into 1.4 shares of common stock. Currently, the preferred stock is trading at $102 while the common stock is trading at $75.50. The corporation calls the preferred stock at par plus accrued dividends of $2 per share. If a customer buys 100 preferred shares, converts, and then sells the common stock in the market, the profit is (ignoring commissions):_________
a. tender offer
b. forced conversion
c. advance refunding
d. simultaneous transaction
a. The profit the investor made when he sold the common stock shares in the market is $370.
b. The investor sold the 140 common stock shares through a. tender offer.
A tender offer is made when the investor is approached by another investor in the open market to buy the 140 common stock shares. In this instance, the shares are sold at the prevailing market price.
Data and Calculations:
Par value of cumulative convertible preferred stock = $100
Dividend rate per year = 8%
Current price of preferred stock = $102
Number of shares of preferred stock bought = 100
Total cost of purchase = $10,200 (100 x $102)
Sales price of common stock = $75.50
Number of common stock shares converted = 140 (100 x 1.4)
Sales proceeds from sale of common stock = $10,570 ($75.50 x 140)
Profit made by investor = $370 ($10,570 - $10,200)
Thus, the sale of the common stock shares was not by forced conversion, advance refunding, simultaneous transaction, but by a tender offer.
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In May 2020, Whitney filed for divorce from her husband, Michael. Although they lived apart for the last six months of the year, their divorce is not yet finalized; they are still legally married. Whitney does not wish to file a joint 2020 return, and she has no qualifying child or qualifying relative. What filing status should Whitney use?
The filing status to be used by Whitney in 2020 is Married Filing Separately.
The filing status of an individual determines the tax return form an individual will use and includes 5 categories such as:
Single. Married filing jointly. Married filing separately. Head of household. Qualifying widow(er) with dependent child.
Married filing separately is used by married partners that choose to record their incomes and deductions on separate tax returns.
The Married Filing Separately helps one of the partner to own his/her tax liability separate from the spouse's tax liability.
Therefore, in conclusion, the filing status to be used by Whitney in 2020 is Married Filing Separately because the divorce is not yet finalized, thus, still legally married.
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If the incorporator makes a serious mistake in the process of incorporation the business, such as not filing the articles of incorporation with the secretary of state, the courts may still recognize the corporation as a(n) _______ corporation. Multiple Choice de facto executory implied de jure
A De facto corporation is a term used by courts to show the events in which a business organization that has failed in its effort to be a de jure corporation which is a corporation by law. but it will still be treated as a corporation. The courts may still recognize the corporation as a De facto corporation.
A De facto corporation is simply known as a type of corporation which is organized with beautiful compliance with the requirements of incorporation and allowed to stand and exercise the powers of a corporation until its existence is backed up by the State.It shows that there is an extent of legal recognition of a corporation, even if its articles of incorporation may not have been filed correctly.
Conclusively, A De facto corporation is one where parties who tried to establish it must act in hope and must be running their business as a corporation.
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You have opened a for-profit adult technical school and you want to advertise it to potential students throughout your state.
Which marketing method would be most appropriate?
Question 2 options:
Local Television Ad
Social Media
Email
Distribute Flyers
Answer: Local Television Ad
Explanation: I took the test
The correct option is B. Local Television Ad marketing method would be most appropriate for advertising it to potential students throughout your state.
Why is television the most effective media?Thanks to several mechanisms ensuring the quality of the commercials shown on TV, as opposed to those shown on the Internet or apps, which are not always reviewed, the contents, the messages, and the sponsors that appear there are "safe." TV is the safest media since it reaches a large and varied audience.
As a result of the TV. It continues to be the most successful medium for brand recognition. TV advertising helps establish, develop, and expand brands. Unlike a sponsored post or search result, TV advertising helps firms become well-known and keeps them fresh in your mind for a much longer period of time.
Thus, The best choice is B. The best marketing strategy would be to use local television ads to reach prospective students all around your state.
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the total cost of an asset less its accumulated depreciation is called
Answer:
Depreciation is called its net cost or carrying amount.
basheer operates a business that smooths and finishes poured concrete floors, sidewalks, driveways, and pool decks. basheer has been observing and timing each task undertaken by his workers because he would like to increase their efficiency. basheer is engaging in ________ management.
Basheer is engaging in performance management.
As the manager, Basheer is monitoring and evaluating his employee's work to increase their efficiency. He must create the environment for his employees to bring out their best abilities in performing tasks that satisfy customers with the highest quality.
Performance management is a management tool that enables monitoring and evaluation of the tasks carried out by workers so that efficiency can be increased and management's goals achieved.
Thus, Basheer is engaged in performance management when he observes and times each task by his workers to improve performance efficiency.
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what is the relation between Average Revenue and Marginal revenue??
Answer:
hi Kavya di how are you fine or not what are you doing
Explanation:
And in advance Happy Morning and happy chhath Puja
Infomercial are _than commercials.
a. longer
b. funnier
C. more entertaining
d. shorter
Answer:
A
because infomercials have information in them so they can't be funnier or more entertaining and shorter wouldn't really make sense so the best choice is longer.
to derive a competitive advantage, firms can properly configure hr practices to drive ________ which leads to ________.
When firms configure it HR practices to drive employees which leads to improved Firm performance, then the firm will derive competitive advantage.
In a firm, the Human personnel is saddled with the responsibility of effectively managing and motivating the employee for purpose of achieving productivity.
Competitive advantage of a firm entails an attribute which enables a company to outperform its competitors such as Increasing customer-base over other firms.
Therefore, when the firm HR drives the employees, productivity will be achieved which will then create an advantage of competition over other firms.
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Explain the relationship between households and firms in economics
Explanation:
Households supply labor to firms and are paid wages in return. Firms use that labor to produce pizzas and sell those pizzas to households. There is a flow of goods (pizzas) from firms to households and a flow of labor services (worker hours) from households to firms.
Commenced business with cash of Rs 20,000 and Goods worth Rs 25,000
Answer:
Whats the question
Explanation:
