Could you give an example of depletion? How are
the estimates conducted? What if they make a mistake in the useful
life?
Thanks.
Answers
Accurate estimation of the useful life is crucial as it affects the matching principle in accounting, ensuring that expenses are recognized in the same period as the related revenue. It is important for companies to exercise diligence and regularly reassess their estimates to reflect new information or changes in circumstances.
Certainly! Let's consider an example of depletion in the context of natural resource extraction, such as mining.
Example of Depletion:
ABC Mining Company operates a copper mine. They estimate that the mine contains 1,000,000 tons of copper ore. In the first year of operations, they extract and sell 100,000 tons of copper ore.
Estimating Depletion:
To estimate depletion, ABC Mining Company needs to determine the depletion rate per ton of copper ore. They divide the cost of acquiring and developing the mine (including exploration and development expenses) by the estimated total amount of copper ore in the mine.
Let's say the cost of acquiring and developing the mine is $10,000,000. The depletion rate per ton of copper ore would be calculated as follows:
Depletion Rate = Cost of Acquisition and Development / Estimated Total Tons of Copper Ore
Depletion Rate = $10,000,000 / 1,000,000 tons
Depletion Rate = $10 per ton
Based on this calculation, ABC Mining Company would recognize a depletion expense of $10 for each ton of copper ore extracted and sold.
Mistake in Useful Life:
If ABC Mining Company makes a mistake in estimating the useful life of the mine, it can have significant implications for the depletion expense. The useful life represents the expected period over which the company anticipates extracting and selling the natural resource.
If the company underestimates the useful life, they may allocate a higher depletion expense per ton of ore, leading to higher expenses and potentially understating future profitability. On the other hand, if they overestimate the useful life, they may allocate a lower depletion expense per ton, resulting in lower expenses and potentially overstating future profitability.
To rectify such a mistake, ABC Mining Company would need to revise their estimates and adjust the depletion expense accordingly in future periods. They would also need to disclose the change in estimates and the reasons for the revision in their financial statements.
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Related Questions
Which critical thinking skill is used to gain new insight into your thinking?
Open-mindedness
Reflection
Curiosity
Evaluation
Information-gathering
Answers
Answer: Reflection
Explanation:
You can gain insight by asking a person to reflect and evaluate an experience and explain their thought processes during that time. This can help you develop your critical thinking by providing you real-world examples.
Billie eilish?Or purge for halloween please help me decide?
Answers
Answer:
Explanation:
i feel like dressing as billie would be more comfortable you know what i mean just big hoodie/t-shirt and sweat pants
to create the most ________ for someone like gabby’s dad, coffee houses need to minimize their expenses and keep their prices down. fancy furniture and free wifi are simply not of interest to consumers who want a quick, inexpensive cup of coffee.
Answers
To create the most customer value for someone like gabby’s dad, coffee houses need to minimize their expenses and keep their prices down. fancy furniture and free wifi are simply not of interest to consumers who want a quick, inexpensive cup of coffee.
Which kind of market segmentation do most luxury product marketers who sell to the wealthy use?Luxury brands concentrate on psychographic segmentation by looking at the lives of their customers. Since their purchasing decisions are mostly affected by these categories, the majority of luxury businesses have over the years targeted consumers whose lifestyles are primarily models, singers, film stars, etc.
Which sort of market segmentation takes into account consumers' spending and buying patterns and interactions with brands?The technique of categorizing clients based on typical behaviors they display when interacting with your business is known as behavioral segmentation. You can divide your audience into groups for this form of segmentation based on: finance practices. Purchase practices.
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what activities does marketing involve besides selling?
Answers
Answer:The activities involved in marketing are
Product and Service Selection. A manufacturer or service provider ideally listens to its customers and prospects before making product and service decisions.
Product or Service Pricing
Product Placement Activities
Incentives and Promotional Activities.
Explanation:
provide a product example for the 3 elements of manufacturing
Answers
Overhead cost
Incidental overhead cost
Organizational success relies considerably on effective purchasing and
A) supply management
B) employee benefits
C) geographical location of suppliers
D) the size of the organization
Answers
Organizational success relies considerably on effective purchasing and Supply management option (a)
Supply chain management (SCM) is a system in commerce that deals with procurement (purchasing raw materials/components), operations management (ensuring the production of high-quality products at high speed with good flexibility and low production cost), logistics, and marketing channels so that raw materials can be converted into a finished product and delivered to the end customer).
This can include raw material movement and storage, work-in-process inventory, finished goods, and end-to-end order fulfilment from point of origin to point of consumption. In a supply chain, interconnected, interrelated, or interlinked networks, channels, and node businesses collaborate to provide the products and services required by end customers.
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Ben Thomas is earning an annual salary of $15,090 at Custom Stereos. He has been offered a job at the local Ford dealer for $16,660 annually. How much more would Ben earn per week if he accepts the position at the Ford dealer?
Answers
Answer:
$30.2
Explanation:
The current annual salary for Ben Thomas is $15,090. the weekly salary will be $15,090 divide by 52
=$15,090 / 52
=$290. 2
The new annual salary at the Ford dealer is $16,660
Weekly salary is the annual salary divided by 52
= $16,660 / 52
=$320.4
Ben Thomas will earn much more by:
=$320.4 - $290. 2
=$30.2
After you have all of the information, decide which financial institution is best for you. Write your answer in the text box below and provide details about why you selected the financial institution.
Answers
Answer: Security of your funds. ...
Fees.
Ease of deposit.
ATM fees.
Interest rates.
Online banking features.
Minimum balance requirements.
Branch availability.
Explanation:
Could someone help me please?
Answers
Answer: Yes Definitely. But i need the question
Explanation:
you can get the solution on Brainly straightly.
Find an article dealing with an opinion poll on a local, state ,or national issue. Write a paragraph summary of when and how the poll was conducted, and what the results indicated.
Answers
According to a CNN poll conducted in early February 2021, 69% of Americans approve of President Joe Biden's handling of the COVID-19 pandemic. The poll was conducted by SSRS, a research firm that specializes in survey research. The poll surveyed 1,004 adults across the United States and had a margin of error of plus or minus 3.7 percentage points. The poll also found that 60% of Americans believe that the worst of the pandemic is yet to come, despite the country's recent progress in vaccine distribution. Additionally, 93% of respondents said they have worn a mask in public in the past week, a sharp increase from similar polls conducted last year. The poll's results indicate that the majority of Americans are supportive of the current administration's efforts to combat the ongoing pandemic
Write 3-5 sentences that explain what Demand is.
Why do you think it is important?
Answers
common lit capataliasmn-Which phrase best describes the relarionship between workers and bussiness owners in capatalists cociety
Answers
Answer:
In order for the government to be able to help with a problem, the problem must be brought to the proper of government and the proper.In order for the government to be able to help with a problem, the problem must be brought to the proper of government and the proper.
Explanation:
anyone know PNC banks atm fees?
Answers
Answer:
$500 i think is the answer
Explanation:
hope it helps
how do the fed's monetary policy actions influence the exchange rate?
Answers
The Federal Reserve's monetary policy actions can influence the exchange rate through several channels. One of the primary ways is by adjusting interest rates. When the Federal Reserve increases interest rates, it makes domestic investments more attractive, leading to an inflow of foreign capital. This increased demand for the domestic currency strengthens its value relative to other currencies, causing an appreciation in the exchange rate.
Conversely, when the Federal Reserve lowers interest rates, it can decrease the attractiveness of domestic investments, leading to a decrease in foreign capital inflows. This reduced demand for the domestic currency can weaken its value relative to other currencies, causing a depreciation in the exchange rate.
Additionally, the Federal Reserve's monetary policy actions can influence inflation expectations, which in turn affect the exchange rate. If the Federal Reserve implements policies that are perceived as inflationary, it can lead to expectations of currency depreciation, resulting in a lower exchange rate.
Overall, the Federal Reserve's monetary policy actions, particularly those related to interest rates and inflation expectations, can have a significant impact on the exchange rate.
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whoever friends get all these points! (desperate)
Answers
Answer: hello :)
Explanation:
If anyone can please help asap
Answers
Answer:
1. Negative externality: Jeff declined to buy his favorite chocolate bar because the price has increased.
2. Dollar vote: increased neighborhood crime is caused by a pawn shop.
3. Public goods: a freeway is available for all to use.
4. Positive externality: public education in the United States results in benefits for others around the world.
Explanation:
1. Negative externality: Jeff declined to buy his favorite chocolate bar because the price has increased. A negative externality arises when the production or consumption of a finished product or service has negative impact (cost) on a third party.
2. Dollar vote: increased neighborhood crime is caused by a pawn shop. A dollar vote describes how the consumer's purchasing power influences the type (quantity) of goods to be produced and supplied to the market.
3. Public goods: a freeway is available for all to use. It refers to any goods that is accessible and available to the general public at all times without an additional fee, charges or cost.
4. Positive externality: public education in the United States results in benefits for others around the world. A positive externality arises when the production or consumption of a finished product or service has a significant impact or benefits to a third party that isn't directly involved in the transaction.
If total sale revenue is $15,000,000 and the net profit (before
interest and tax) is 5,000,000, the overall profitability of sale
is
Answers
If total sale revenue is $15,000,000 and the net profit (before interest and tax) is 5,000,000 then , the overall profitability of the sales is 33.33%.
The overall profitability of sales can be determined by calculating the net profit margin.
To calculate the net profit margin, we divide the net profit by the total sales revenue and then multiply by 100 to express it as a percentage.
In this case, the net profit is $5,000,000 and the total sales revenue is $15,000,000.
Net Profit Margin = (Net Profit / Total Sales Revenue) * 100
Net Profit Margin = (5,000,000 / 15,000,000) * 100
Net Profit Margin = 0.333333333 * 100
Net Profit Margin = 33.33%
Therefore, the overall profitability of the sales is 33.33%.
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Prompt
What are company values?
Read More >>
Answers
Answer:
As a definition, company core values are the clearly stated principles about the organization’s vision, mission, and principles. That way, everyone is aligned around a guiding philosophy to serve employees, customers, and the broader community.
That can also double as the definition of company culture. In many ways, values and culture are synonymous. They’re both about the higher aspirations of a company. The result is the DNA fundamental to a company’s identity
An enabling statute and which legislation are key elements in the formation of an agency?
Answers
Answer:
"Administrative Procedure Act" seems to be the right response.
Explanation:
A national government statute that always regulates the policies and measures of statutory interpretation or law. § 3 including its APA, 5 USC § 552, identifies the procedural required documents something which organizations should therefore implement because once making important decisions. There seems to be a related Standardized State Administrative Process Act, established again for the regulation of state governments by either the Leadership Conference and unity.With the help of online research, write a short report on “glocalization.”
Answers
The phenomena of Glocalization, which is best described as Thinking Globally, Acting Locally, is created when the two terms of globalisation and localization are combined.
To put it more properly, we may say that although if a single brand is produced, sold, and distributed globally, it is nevertheless personalised and customised to suit the tastes and preferences of customers in the many global marketplaces.
It is carried out since each region of the world has its own unique culture, linguistic preferences, demands, and desires.
By adjusting their offerings and products to meet the needs of that specific market, businesses may effectively position and place their items, resulting in high revenues and devoted customers.
The following are all global brands, although they cater to the demands of their customers in various parts of the world while selling items.
Chips by Lays (They sell different flavours in different parts of the world, according to the taste preference and eating habits of that country).
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What is the economic importance of fish farming in Nepal?
Answers
Compare the highest nation to the United States. How much does it save?
Answers
The keywords in your question "how much" and "save" suggests that you are looking for an economic comparison. The primary indices for comparing nations in the world is the Gross Domestic product (GDP).
Hence, the highest nation in the world (as of 2021) according to GDP ranking is said to be the United States of America. This is based on World Bank Statistics. The US is followed by China. Currently, China has about $3 trillion in total foreign exchange reserves (savings).
What is Gross Domestic Product?Gross domestic product (GDP) is a monetary measure of the market value of all final products and services produced and sold by countries in a given time period. Because of its complexity and subjectivity, this metric is frequently changed before being regarded a credible indication.
It is to be noted that Consumption, investment, government spending, exports, and imports are the components of GDP calculated using the expenditures approach.
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Because susans standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal
government if she follows through on filing her 1040 form
Answers
Note that if Susan's standard deduction is greater than the amount she made, it means her taxable income is zero. If she had any taxes withheld from her paychecks throughout the year, she would be eligible for a full refund of those taxes.
What is the rationale for the above response?Assuming Susan is a single taxpayer under the age of 65 and not claimed as a dependent on anyone else's tax return, her standard deduction for tax year 2022 (filing in 2023) would be $12,950.
If Susan's total income for the year is less than or equal to $12,950, she would owe no federal income tax and would be eligible for a full refund of any federal income tax withheld from her paychecks or estimated tax payments she made throughout the year.
The exact amount of her refund would depend on how much federal income tax was withheld from her paychecks or paid in estimated tax payments throughout the year. Susan can determine the amount of her refund by completing her tax return using Form 1040 and any other applicable forms and schedules.
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Question 1 (1 point)
Loan 1:
Loan Amount: $ 10,000.00
Loan Term: 12 months
Interest Rate: 12%
Upfront Fees: $ 125.00
Payment: $ 888.49
What is the total amount of payments for Loan 1? $10,786.88
Blank 1:
$10,786.88
Question 2 (1 point)
Using the information from question one, what is the total cost of Loan 1? $
Blank 1:
$
this one too
Loan 2:
Loan Amount: $ 10,000.00
Loan Term: 24 months
Interest Rate: 12%
Upfront Fees: $ 125.00
Payment: $ 470.43
What is the total amount of payments for Loan 2? $5,770.16
Blank 1:
$5,770.16
Using the information from question 3, what is the total cost of Loan 2?
only answer the question that ask the total cost
Answers
In a loan, a certain quantity of money is given to another person in exchange for the value or main amount being repaid at a later date.
What is Loan ?In many circumstances, the lender increases the principal value by adding interest or finance charges, which the borrower must pay in addition to the principal sum.
A loan is a type of debt that a person or other entity incurs. The lender advances the borrower a certain amount of money, typically on behalf of a business, financial institution, or government.
The borrower accepts a specific set of terms in return, which may include any finance charges, interest, a repayment schedule, and other requirements.
Computation of Cost of loan
Loan Amount: $ 10,000.00
Loan Term: 24 months
Interest Rate: 12%
Upfront Fees: $ 125.00
Payment: $ 470.43
Cost of Loan
\(Cost of loan = Monthly Payment * months + fees \\ = 470.43 *24 months + 125\\ = 11,290.32 +125\\\\ = 11,415.32\\ Cost of loan = 11,415.32 - 10000\\ = 1,415.32\\\)
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01-002 - Definition of Analytics
Answers
Analytics is the discovery, interpretation, and communication of meaningful patterns in data. It is a form of data analysis that uses statistical, algorithmic, or computational techniques to reveal insights from data.
What is data analysis?Data analysis is the process of inspecting, cleaning, transforming, and modeling data with the aim of discovering useful information, informing conclusions, and supporting decision-making. In the context of business intelligence, data analysis is the process of collecting, integrating, and analyzing data from various sources to better understand the underlying relationships and patterns.
Analytics primarily involve the use of data to discover patterns and trends, and can be used to make predictions about future events. Examples of analytics include predictive analytics, descriptive analytics, prescriptive analytics, and other forms of advanced analytics. Analytics are often used to help businesses make better decisions, uncover new opportunities, and optimize processes.
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A firm is experiencing an increase in variable costs. what can the firm do to maintain its profitability
Answers
When a firm experiences an increase in variable costs, there are several actions it can take to maintain its profitability such as Increase prices, Improve operational efficiency, Explore alternative suppliers, Implement cost-saving measures, focus on product mix and profitability analysis, Evaluate pricing strategies, and Seek economies of scale.
When a firm experiences an increase in variable costs, there are several actions it can take to maintain its profitability. Here are some strategies the firm can consider:
Increase prices: The firm can adjust its prices to reflect the increased variable costs. By raising prices, the firm aims to pass on the cost increase to customers and maintain its profit margins. However, this strategy should be carefully evaluated to ensure it aligns with market dynamics and customer sensitivity to price changes.Improve operational efficiency: The firm can focus on enhancing its operational processes to reduce waste, improve productivity, and lower variable costs. This can involve streamlining production processes, optimizing supply chain management, implementing cost-saving technologies, or renegotiating supplier contracts to secure better pricing.Explore alternative suppliers: If the increase in variable costs is driven by specific suppliers, the firm can evaluate other potential suppliers who offer competitive prices. By diversifying its supplier base, the firm may find more cost-effective options and mitigate the impact of cost increases from a single supplier.Implement cost-saving measures: The firm can implement cost-saving measures across various areas of its operations. This can include reducing energy consumption, optimizing inventory management to minimize carrying costs, eliminating non-essential expenses, or renegotiating contracts with service providers to secure better terms.Focus on product mix and profitability analysis: The firm can analyze its product mix and profitability to identify products or services that have higher profit margins. By focusing on promoting and selling these high-margin products, the firm can offset the impact of increased variable costs on overall profitability.Evaluate pricing strategies: The firm can assess its pricing strategies to ensure they are aligned with market conditions and customer preferences. This may involve segmenting the customer base and implementing differential pricing based on factors such as value proposition, customer loyalty, or volume of purchases.Seek economies of scale: The firm can explore opportunities to achieve economies of scale by increasing production volumes or expanding its market reach. By spreading fixed costs over a larger production base or customer base, the firm may be able to mitigate the impact of increased variable costs.It's important for the firm to carefully evaluate the potential impact and feasibility of each strategy while considering market dynamics, customer behavior, and the competitive landscape. Implementing a combination of these strategies can help the firm adapt to increased variable costs and maintain its profitability.
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Noel was assigned a group project in class. What benefit will Noel get from working with a team?
A Independence
B Increased creativity
D Easy class credit
C Easy decision making
Answers
Answer:
B Increased creativity
Explanation: got test
What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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The process by which new products and technologies drive out existing products and techniques is known as: Destructive creation. Creative destruction. Consumer sovereignty. Capital accumulation.
Answers
Answer:
The correct answer is B. Creative destruction
Explanation:
The process by which new products and technologies drive out existing products and techniques is known as: Creative destruction.
you are an administrative assistant in the purchasing department. Another administrative assistant is getting married in three weeks. Rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. you have not seen an official announcement, however, the assistant did tell you that she plans not to come back. What should you say to your two coworkers?
Answers
In this situation, You should tell your coworkers that you are unsure and that it is not yet official announced.
Co - workers.
Co workers refers a person with whom one works, typically someone in a similar role or at a similar level within an organization.
Given,
Here we have given that, you are an administrative assistant in the purchasing department. And another administrative assistant is getting married in three weeks. There is a rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. Now, you have not seen an official announcement, however, the assistant did tell you that she plans not to come back.
Here we need to find how you should handle this situation.
While we looking into the given question, we have identified the following,
There are 2 administrative assistant in your company.
One is you and another one is a girl and she get married in three weeks. And she also planned to resign after her marriage but this resignation is not officially confirmed.
So, in this situation, two of your peer interested for the position and asking you about the recruitment process.
Here you have to reply the co workers that the resignation is not conformed and if it is officially announced they you have the option to apply for that position.
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