$24,640 is deducted from accounts receivable.
Accounts receivable: Are they assets?Accounts receivable is a term used to describe the amount of money that clients owe a company for goods or services they have received but have not yet paid for. For instance, when customers purchase goods on credit, the outstanding balance is added to the accounts receivable.
Accounts receivable are seen as assets in the accounting ledger of the company since they may be rapidly converted into cash. Instead, the business has extended credit to the client with the expectation of receiving payment for the transaction at a later time.
What exactly is interest payable?The amount of interest generated but not yet collected in cash is known as interest receivable. Many businesses won't record this sum because they believe it to be unimportant.
Thomas Slocombe is given a loan = $22,000 on 9 month 12% note
Interest Receivable (Interest up to Dec 31 2022) = $22,000 x 12% x 9/12 = $1,980
Interest Revenue (Interest from 1 Jan to 31 march 2023) = $22,000 x 12% x 3/12= $660
Account receivable = $22,000 + $1,980 + $660 = $24,640
Accounts receivable A/c- (dr) $24,640
Notes receivable A/c- (cr) $22,000
Interest revenue A/c- (cr) $1,980
Interest receivable A/c- (cr) $660
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Give an example to each of the three categories of influence on customers
Answ er:
Explanat ion:
Cual es la sociedad que se constituye con el mayor capital inicial?
Answer:
dont knowntype in eng
bye
Match the definition to the term.
1. commute
2. lifestyle
3. lifestyle budget
lists the costs of items you chooseto spend your money on
the way a person chooses to live
commute the distance you travel to
and from work
The correct matching of the term and its definitions are:
commute - the distance you travel to and from work
lifestyle - the way a person chooses to live
lifestyle budget - lists the costs of items you choose to spend your money on.
What is Lifestyle Budget?A lifestyle budget is a budgeting approach that concentrates on allocating money toward the choices, needs, and prioritizations of an individual or household.
This type of budget incorporates expenditures such as amusement, dining at restaurants, pastimes, holidays, clothing, as well as other optional acquisitions into the total monetary scheme. By creating a lifestyle budget, individuals can feasibly manage their money and attain their financial aspirations while still cherishing their preferred lifestyle.
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Based on the available terms and the definition in the option, the right matching includes lifestyle budget = lists the costs of items you choose to spend your money on.
What is the Definition?The definition is a term that is used to describe the statement of meaning of a term or word, or phrase.
Generally, the term Definitions can be classified into two large categories: intensional definitions which aim to give the sense of a term, and extensional definitions which list the objects that a term defines.
Hence, in this case, we have the following words and their meanings:lifestyle budget = lists the costs of items you choose to spend your money on.lifestyle = the way a person chooses to livecommute = commute the distance you travel toand from workTherefore, in this case, it is concluded that each word or phrase has a specific meaning.
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Steve Reese is a well-known interior designer in Fort Worth, Texas. He wants to start his own business and convinces Rob O’Donnell, a local merchant, to contribute the capital to form a partnership. On January 1, 2016, O’Donnell invests a building worth $130,000 and equipment valued at $140,000 as well as $60,000 in cash. Although Reese makes no tangible contribution to the partnership, he will operate the business and be an equal partner in the beginning capital balances.
To entice O'Donnell to join this partnership, Reese draws up the following profit and loss agreement:
- O'Donnell will be credited annually with interest equal to 10 percent of the beginning capital balance for the year
- O'Donnell will also have added to his capital account 15 percent of partnership income each year (without regard for the preceding interest figure) or $7,000, whichever is larger. All remaining income is credited to Reese.
- Neither partner is allowed to withdraw funds from the partnership during 2013. Thereafter, each can draw $5,000 annually or 20 percent of the beginning capital balance for the year, whichever is larger.
The partnership reported a net loss of $8,000 during the first year of its operation. On January 1, 2014, Terri Dunn becomes a third partner in this business by contributing $10,000 cash to the partnership. Dunn receives a 20 percent share of the business's capital. The profit and loss agreement is altered as follows:
- O'Donnell is still entitled to (1) interest on his beginning capital balance as well as (2) the share of partnership income just specified.
- Any remaining profit or loss will be split on a 5:5 basis between Reese and Dunn, respectively.
Partnership income for 2014 is reported as $64,000. Each partner withdraws the full amount that is allowed. On January 1, 2015, Dunn becomes ill and sells her interest in the partnership (with the consent of the other two partners) to Judy Postner. Postner pays $75,000 directly to Dunn. Net income for 2015 is $64,000 with the partners again taking their full drawing allowance On January 1, 2016, Postner withdraws from the business for personal reasons. The articles of partnership state that any partner may leave the partnership at any time and is entitled to receive cash in an amount equal to the recorded capital balance at that time plus 10 percent
a. Prepare journal entries to record the preceding transactions on the assumption that the bonus (or no revaluation) method is used. Drawings need not be recorded, although the balances should be included in the closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.)
b. Prepare journal entries to record the previous transactions on the assumption that the goodwill (or revaluation) method is used. Drawings need not be recorded, although the balances should be included in the closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.)
A good investment will do one or both of which two things?
(Select two answers.)
O Produce employees
O Grow in value
O Produce income
O Create a product
O Increase competition
O Prioritize your goals
Answer:
1.Grow in value
2. Produce income
Explanation:
Investing is engaging in any commercial activity expecting to make profits or generate wealth. An investment is, therefore, an activity that results in wealth or profits.
An investor is a person who undertakes investment activities. They risk their time and money, hoping to profit from the venture. There are active and passive investment tools. Buying stocks, bonds, and other marketable securities are examples of passive investments. Investors buy the investment tool and leave it to appreciate in value or earn dividends. Starting a business is an active investment. Businesses are started to generate income for the owner.
Name 4 main parts of a business plan.
Increased flexibility in scheduling has become an important benefit for employers to offer because of:
Increased flexibility in scheduling serves as important benefit for employers to offer because of:
1)the increase in single parent homes
2)the increase in two-income families
Scheduling serves as a process of arranging as well as controlling and optimizing work when carrying out a production process.It is important for employers to have Increased flexibility in scheduling because of the rise in single parent home.Learn more at:
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2.
Is marketing always appropriate for political candidates? Why or why not?
Answer:
Yes, marketing always appropriate for political candidates.
Explanation:
Yes, marketing always appropriates for political candidates.
Political marketing is the process by which ideas are shared with the voters to gain their support. In political campaigns, the candidate uses modern marketing techniques including marketing research and commercial advertising to maximize votes.
Marketing is vital for political candidates. Therefore, the statement is true.
The main aim behind marketing is simply to influence people and ensure that people agree to a particular thing. Political marketing is used to convince the people about one's program when one is elected into a certain position.Marketing is vital in politics as one can be able to share his views and aspirations with the public. It also ensures transparency.In conclusion, marketing is always appropriate for political candidates.
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Suppose labor's share of output is 70% and capital's share of output is 30%. The country finds that its output grew at a rate of 3.4% during the past year, its labor force grew by 2%, and its capital grew by 3%. In this case, labor contributed
The complete statement "Suppose labor's share of output is 70% and capital's share of output is 30%. The country finds that its output grew at a rate of 3.4% during the past year, its labor force grew by 2%, and its capital grew by 3%. In this case, labor contributed 1.4 percent to the growth of output, capital contributed 0.9 percent to the growth of output, and the implied rate of growth in technology was 1.1 percent."
What is labor's contribution?Generally, The term "labor contribution" refers to either the direct participation in the kinds of production, business, and service labor or the involvement in the management of the cooperative for which remuneration is paid in accordance with the contribution as specified by the Statute of the cooperative.
Both of these types of participation are remunerated in accordance with the contribution.
In the process of generating the commodities and services that make up an economy, labor stands in for the human element. locating a sufficient number of individuals with the appropriate abilities to satisfy the rising demand. This often leads to salary increases in a number of different businesses.
\(S R(t)=\frac{\frac{\partial y}{\partial t}}{y}-\left( \alpha \frac{\frac{\partial k}{\partial t}}{k(t)}+(1-\alpha) \frac{\partial L}{\frac{\partial}{\partial t}} * \frac{1}{L(t)})\)
Here, \(\alpha=0.3\)
So, labor's contribution =(1+3) 2 =1.4
Capital's contribution =0.3 *3
=0.9%
The implied rate of growth in technology is g given by S R,
S R &=(3.4)-(1.4+.9)
=3.4-2.3
=1.1%
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CQ
Suppose labor's share of output is 70% and capital's share of output is 30%. The country finds that its output grew at a rate of 3.4% during the past year, its labor force grew by 2%, and its capital grew by 3%. In this case, labor contributed ____ percent to the growth of output, capital contributed ____ percent to the growth of output, and the implied rate of growth in technology was ____ percent.
why do people form group is forming a group accidental or spontaneous?
According to the video, what must Police Patrol Officers be able to do in life-threatening situations? Select all that apply. Stay calm. Provide medical care. Rescue victims. Think clearly. Make good judgments. Identify criminals.
Answer:
ade
Explanation:
Police Patrol Officers must be able to do the following in life-threatening situations: Stay calm; Think clearly and Make good judgments. Thus option (a), (d) and (e) are correct.
Who are Police Patrol Officers?Police patrol officers are law enforcement officers who are responsible for maintaining public safety and order by patrolling designated areas, responding to emergency calls, and enforcing laws and ordinances.
Their duties may include conducting routine patrols, responding to emergencies, investigating accidents and crimes, making arrests, issuing citations, and testifying in court.
Stay calm; Think clearly and Make good judgments are the action which the Police Patrol Officers must must take in life-threatening situations. Therefore, option (a), (d) and (e) are correct.
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When the perpetual inventory system is used, the inventory sold is debited to
Explain the reason for conducting a sample survey rather than a
full-scale survey
Answer:
Samples are easier to collect data from because they are practical, cost-effective, convenient, and manageable. It also reduces the time needed to collect and process the data and produce results as it requires a smaller scale of operation.
Explanation:
The reason for conducting a sample survey rather than a full-scale survey is primarily based on cost and time considerations.
Sample surveys are often more feasible and cost-effective than conducting a full-scale survey, especially when the population size is very large.
For instance, in social studies or business research, sample surveys are often conducted to gather information on a particular demographic group or industry sector.
Sample surveys provide an accurate representation of the population under study and allow for the collection of data that can be analyzed to make informed judgments and decisions.
Furthermore, in the economy and accounting fields, sample surveys can provide insight into the demand for certain goods or services, helping businesses adapt to changing market conditions.
While full-scale surveys may be more comprehensive, they may not always be necessary or practical. By using a representative sample, researchers can gather data that is statistically significant and can provide insights into the overall population.
Overall, sample surveys are an essential tool for gathering data in a cost-effective and efficient way.
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Which best describes the career choices each should make based on the top three skills required of the profession?
A. Murial should be a Programmer, Carrie should be a Public Relations Specialist, and Phillipe should be an Accountant.
B. Murial should be a Programmer, Carrie should be an Accountant, and Phillipe should be a Public Relations Specialist.
C. Murial should be an Accountant, Carrie should be a Public Relations Specialist, and Phillipe should be a Programmer.
D. Murial should be an Accountant, Carrie should be a Programmer, and Phillipe should be a Public Relations Specialist.
The career choice based on three top skills required of the profession describes Murial should be a Programmer, Carrie should be a Public Relations Specialist, and Phillipe should be an Accountant.
Option A is correct .
According to the top three skills required for each job, Murial is best suited for a programmer, Carrie is best suited for a public relations specialist due to his speaking skills, active listening, and critical thinking, and Phillips is best suited for an accountant.
Programmer :A programmer is a person who writes computer software or programs. You can also be called a programmer if you create an app for mobile devices. The code (also known as instructions) that enables computers to carry out the tasks that users instruct them to do are written by programmers in a variety of computer languages.
Specialist in public relations:The media and public relations professional known as a Public Relations Specialist is in charge of devising, planning, and carrying out public relations strategies with the goal of maintaining and improving the client's image among a variety of internal and external audiences.
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Taylorism emphasises the formal structure, hierarchy of management, the technical requirements and the assumption of rational behaviour Question Attachment: Answer O True O False
Taylorism underlines the conventional construction, order of the executives, the specialized prerequisites and the supposition of judicial way of behaving is a genuine assertion.
judicial way , Arrangement of logical administration upheld by Fred W. Taylor. In Taylorism view, the assignment of processing plant the executives was to decide the most effective way for the laborer to finish the work, to give the appropriate apparatuses and preparing, and to give motivations to great execution.
He separated each occupation into its singular movements, examined these to figure out which were fundamental, and planned the specialists with a stopwatch.
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When did kylie jenner was born
In a castle !!!!!!!!!!!!
Answer:Kylie Jenner was born in August’s 10th 1997 making her 23 years old
Define a random variable that represents the time in minutes required to assemble the product
A random variable x is a numerical outcome of a probability experiment. There is a numerical value which is determined by chance for each outcome in the procedure or experiment. Therefore, a random variable is used for describing outcomes using numerical values.
x = time in minutes
In March 2022, Samsung was the market leader with 48.12% of the market share mobile device vendors in South Africa. Evaluate whether such a high market share for one company is in the consumers’ interest. Use appropriate diagrammatic analysis to support your answer.
A high market share for one company may not be in the consumers' interest.
To evaluate whether a high market share for one company is in the consumers' interest, we need to consider the potential effects on competition, consumer choice, and pricing. Let's analyze the situation using diagrammatic analysis.
Market Structure:
A high market share for one company suggests a dominant market position. This can be represented by a monopoly or oligopoly market structure. In a monopoly, there is a single dominant company, while an oligopoly consists of a few large firms.
Consumer Choice:
In a market dominated by one company, consumer choice may be limited. With fewer competitors, there may be less diversity in product offerings, features, and pricing options. This lack of variety can restrict consumers' ability to choose products that best suit their preferences and needs.
Pricing:
A dominant company may have the power to influence prices in the market. With limited competition, they can potentially set higher prices, reducing consumer welfare. Higher prices can lead to reduced affordability and may discourage innovation and improvements in products and services.
Innovation and Quality:
Intense competition typically drives companies to innovate and improve their products to attract customers. In a highly concentrated market, the dominant company may have less incentive to invest in research and development or improve product quality, as there is less competitive pressure to do so. This could result in slower innovation and lower overall product quality.
Based on these considerations, a high market share for one company may not be in the consumers' interest. Limited competition can result in reduced consumer choice, potentially higher prices, slower innovation, and lower product quality.
Diagrammatic analysis:
A diagrammatic representation can help illustrate the potential effects of a high market share. Consider a simple demand and supply diagram with the quantity of mobile devices on the x-axis and the price on the y-axis.
In a competitive market, the supply curve represents the combined output of multiple firms, leading to a lower equilibrium price (Pc) and a higher equilibrium quantity (Qc) due to competition. Consumers have more choices and potentially lower prices.
However, in a market with a dominant company, the supply curve may shift or become more inelastic. This can result in a higher equilibrium price (Pm) and a lower equilibrium quantity (Qm) compared to the competitive market. Consumers may have limited choices and potentially higher prices.
Overall, the diagrammatic analysis supports the notion that a high market share for one company may not be in the consumers' interest, as it can lead to reduced competition, limited consumer choice, potentially higher prices, and less incentive for innovation and quality improvements.
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On May 25, after the transactions had been posted, Adams discovered that the following entry contains an error. The cash received represents a collection on account, rather than new service fees.
20--
May 23 Cash 101 1,270
Service Fees 401 1,270
Received cash for services previously earned
Correct the error in the general journal using the correcting entry method. If an amount box does not require an entry, leave it blank.
Answer:
With the correcting entry method, the wrongly posted account will transfer the amount that was to be posted elsewhere to the place it was to be posted in. In this case the posting was to be to Accounts Receivable not Service fees so:
Date Account Title Debit Credit
May 23 Service Fees $1,270
Accounts Receivable $1,270
_____ is a key indicator to how profitable a business is currently or may be in the future.
A. Market penetration
B. Market share
C. Market research
D. Market positioning
Answer:
Market share
Explanation:
...
Daris Corporation is authorized to issue 1,000,000 shares of $5 par value common stock
During 2018. its first year of operation, the company has the following stock transactions
per share
Jan 1 Paid the state RM2,000 for incorporation fees
Jan 15 Issued 500.000 shares of stock at RM7
Jan
30 Attorneys for the company accepted 500 shares of common stock as payment for
legal services rendered in helping the company incorporate. The legal services are
estimated to have a value of RM8.000
July 2 Issued 100,000 shares of stock for land. The land had an asking price of
RM900.000. The stock is currently selling on a national exchange at RMS per
share
Sept 5 Purchased 15,000 shares of common stock for the treasury at RM10 per share
Dec 6 Sold 11,000 shares of the treasury stock at RM11 per share
Required:
Journalize the transactions for Daris Corporation
Answer:
Daris Corporation
General Journal:
Jan. 1:
Debit Incorporation fees RM2,000
Credit Cash Account RM2,000
To record the payment of incorporation fees to the state.
Jan. 15:
Debit Issue of Shares RM3,500,000
Credit Common Stock RM3,500,000
To record issue of 500,000 shares at RM7 per share.
Jan. 30
Debit Legal Fees RM8,000
Credit Issue of Shares RM3,500
Credit Additional Paid-in Capital RM4,500
To record the issue of 500 shares to settle legals fees of RM8,000
July 2:
Debit Land RM900,000
Credit Issue of Share RM700,000
Credit Additional Paid-in Capital RM200,000
To record the issue of 100,000 shares of stock for land.
Sept. 5:
Debit Treasury Stock RM105,000
Debit Additional Paid-in Capital RM45,000
Credit Cash Account RM150,000
To record the repurchase of 15,000 shares of common stock at RM10 per share.
Dec. 6:
Debit Cash Account RM121,000
Credit Treasury Stock RM77,000
Credit Additional Paid-in Capital RM44,000
To record the resale of 11,000 shares of the treasury stock at RM11 per share.
Explanation:
The Additional Paid-in Capital (APIC) or sometimes referred to as Excess Capital over Par Value is an equity account where the above and below par value of the sale and repurchase of stock is recorded. This makes the Stock account to maintain a stable figure. This implies that the changes caused by above and below par value is taken care in this account. It also takes care of treasury stock above and below par value sale.
Treasury stock is a common stock contra account. It means that the value of the treasury stock reduces the value of the common stock. There are two methods for treating the above and below par value in treasury stock. One method is the costing method which records the changes in the treasury stock account. The other method is the par value method. With this method, only the par value of treasury stock is recorded in the account. The above and below par value changes are recorded in the Additional Paid-in Capital account.
EASY ANSWER
You should plan to arrive _____ minutes early for an interview.
fifteen
ten
twenty
five
Answer:
10 or 15 bc of my mom
Explanation:
Answer:
Fifteen
Explanation:
Who will be the first Trillonare in this world ?
The person who is expected to become the first Trillionaire is Jeff Bezos, founder, and CEO of Amazon.
According to a study conducted by Comparison, Jeff Bezos could become the world’s first Trillionaire by the year 2026. This prediction was made on the basis of the average percentage of growth of Bezos’ net worth over the last five years. The study also highlighted that Bezos’ wealth has grown by an average of 34% over the last five years. At this rate of growth, his net worth could reach $1 trillion by the year 2026.
However, the current COVID-19 pandemic has had a negative impact on the economy, and Bezos’ net worth has already decreased by over $20 billion since the start of the pandemic. Despite this, it is still possible that Bezos may become the world’s first Trillionaire in the future, but there are also other contenders who could reach this milestone, such as Elon Musk, CEO of Tesla and SpaceX. However, as of now, there is no confirmed Trillionaire in the world.
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Indicate whether each of the following statements is true or false,
& Country Als labour share is 60%, Country B's lebour shere is 70%, and labour is growing at a rate of 3% in both counties kosning
capital and technology are not growing in either country, Country has a higher growth rate of output
6. Country Als labour shere is 40%, Country B's labour shere is 70%, and labour is growing at a rate of 10% in country and in
country B. Assuming capital and technology are not growing in either country, Country A has a higher growth rate of org
c Labour is growing at a negative rate in country A and a positive rate in country B.so country must have a higher grow of
output o
d. Labour and capital are both growing more quickly in Country Athen in Country 8,so Country A must have a higher growth rate d
outour dans
The labor force is expanding at the same rate in both nations, but country B has a higher labor share of total production.
TrueFalseFalseFalseWhat is labour share?The portion of economic output that goes to workers as remuneration is known as the labor share. It is determined by dividing the remuneration received over a given time period by the amount of economic output generated during that same time.
The portion of national income or the income of a specific economic sector that is devoted to wages is known as the wage share or labor share in economics.
In country A growth rate = labour share * growth rate in labour = 40% *10% = 400/100 = 4
In country B growth rate = 70% *6% = 420/100 = 4.2
So growth rate in country B is higher.
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A company's trial balance included the following account balances: Accounts Payable $ 19,347 Accounts Receivable 81,476 Cash 73,464 Income Tax Payable 3,652 Inventory 25,956 Notes Payable, due in two years 1,849 Equipment 55,528 Stockholders’ Equity 204,208 Supplies 5,652 Wages Payable 13,020 What is the amount of Total Assets on the Balance Sheet?
The amount of Total Assets on the Balance Sheet is $242,076
What is an asset?An asset is something that provides a current, future, or potential economic benefit for an individual or other entity.
Total Assets on the Balance Sheet
Fixed Asset:
Equipment 55,528 55,528
Current Asset:
Accounts Receivable 81,476
Cash 73,464
Inventory 25,956
Supplies 5,652 186,548
Total assets 242,076
Hence, the amount of Total Assets on the Balance Sheet is $242,076
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At 31 December 20X1, Tina owned equipment which had cost $168,500. At that date $66,500 had been charged in respect of depreciation. Tina's accounting policy is to charge depreciation on equipment at a rate of 25% on the reducing balance basis. What is the depreciation charge to be included in Tina's statement of profit or loss for the year ended 31 December 20X2?
The amount of depreciation charge to be included in Tina's statement of profit or loss for the year ended 31 December 20X2 is $25,500
We need to calculate the depreciation charge for the year using the accounting policy of charging depreciation at a rate of 25% on the reducing balance basis. The reducing balance method applies the depreciation rate to the carrying amount of the equipment at the beginning of the year, which means that the depreciation charge reduces each year as the carrying amount decreases.
Using this method, the depreciation charge for the year ended 31 December 20X2 can be calculated as follows:
Carrying amount at beginning of year: $102,000
Depreciation rate: 25%
Depreciation charge for the year: $25,500 ($102,000 x 25%)
Therefore, the depreciation charge to be included in Tina's statement of profit or loss for the year ended 31 December 20X2 is $25,500.
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Incorrect
Question 3
0/5 pts
(01.01 MC)
Tina just completed a science degree and wants to continue on to medical
school. What can she expect?
-Her earnings potential may decrease.
-Her potential expenses may decrease
-Her earnings potential may increase.
-Her potential wants may decrease.
Answer:
Her earning potential may INCREASE
Explanation:
Tina just completed a science degree and wants to continue to medical school. Her earnings potential may increase. Hence, option C is appropriate.
What is the earnings potential?Earning potential is the phrase used to describe the potential profits that shareholders may realize from holding a company, including dividend payments but also capital growth. In plenty of other words, it displays the most profit that a business may get. The manner of dividends is frequently distributed to investors.
The formula can also be thought of as predicted revenue with fewer expenses equaling profit potential. Gross margin %, also known as the ratio of profit to sales, is a metric that businesses use to assess the profitability of various products.
Let's start with the definition of earning potential (income potential): this is the sum of money you should be able to accumulate throughout a certain period. In other regards, this is a reference to your potential for financial gain.
Hence, option C is correct.
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What are the basics of consideration?
The basics of consideration include the following elements:
Legal SufficiencyBargained for exchange. What is consideration?Consideration is a promise to act, exchange, or do something which the law does not obligate but an agreement creates.
For something to be regarded as a consideration, it must have legal value and form part of the exchange contract.
Thus, a thing or action does not qualify as a consideration if it lacks legal value (legal sufficiency) or does not form part of the contract (bargained for exchange).
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The money lost by not working is called
it's called bankrupt
Mr. D is the manager of a local walgreens. His biggest concern is to make sure that his store is always making the most profit possible. He cuts costs by focusing on certain logistical decisions. Every other day walgreens receives shipments from pepsi, evian, hershey, and numerous other manufacturers. Walgreens insists on small shipments every two days, which helps to keep their inventory costs low. What system is mr. D using at walgreens to reduce his costs?.
The system is mr. D using at walgreens to reduce his costs is just in time inventory.
What is just in time inventory?JIT, or just-in-time inventory management, involves only ordering products from vendors when they are actually needed. This approach's primary goals are to lower the cost of keeping inventory and boost inventory turnover.With a just-in-time (JIT) inventory system, a business receives products as close as feasible to the moment they are actually required. As a result, if an auto assembly facility wants to install airbags, it doesn't maintain a supply on hand; instead, it gets them as the cars are put together.In conclusion. When used properly, JIT inventory can be a terrific method to reduce costs and boost productivity.
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