On December 31, a company sold equipment for $55,000. The equipment had an initial cost of $635,000 and has accumulated depreciation of $510,000 Depreciation has already been taken up to the end of the year. What is the amount of the gain or loss on this transaction? loss of $30,000 gain of $25,000 gain of $55,000 gain of $30,000

Answers

Answer 1

As Depreciation has already been taken up to the end of the year. The amount of the loss on this transaction is $70,000. Since the result is negative, it indicates a loss on the transaction.

To calculate the gain or loss on the sale of equipment, we need to compare the selling price with the carrying amount of the equipment.

Carrying amount = Initial cost - Accumulated depreciation

Carrying amount = $635,000 - $510,000 = $125,000

The selling price of the equipment is $55,000.

To determine the gain or loss, we subtract the carrying amount from the selling price:

Gain/Loss = Selling price - Carrying amount

Gain/Loss = $55,000 - $125,000

Gain/Loss = -$70,000

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--The complete Question is, On December 31, a company sold equipment for $55,000. The equipment had an initial cost of $635,000 and has accumulated depreciation of $510,000 Depreciation has already been taken up to the end of the year. What is the amount of the gain or loss on this transaction? --


Related Questions

Employer withholding of income taxes from an employee's compensation is based on information provided by the employee to the employer on Form _________.

Answers

Employer withholding of income taxes from an employee's compensation is based on information provided by the employee to the employer on Form W-4.

This form, also known as the Employee's Withholding Certificate, is essential for employers to determine the correct amount of federal income tax to withhold from an employee's paycheck.

When an employee starts a new job, they must complete Form W-4 to provide their personal information, filing status, and any additional withholding amounts or exemptions they may have. The form includes sections for claiming dependents, which can impact the withholding amount as well. Employees can update their Form W-4 anytime they experience a significant life event, such as getting married or having a child, that may affect their tax situation.

The employer uses the information provided on Form W-4 in conjunction with the IRS withholding tables to calculate the proper amount of tax to withhold from each paycheck. This process ensures that employees' tax liabilities are adequately covered throughout the year, reducing the likelihood of owing a significant amount of tax or receiving a large refund when filing their annual tax return.

In summary, Form W-4 plays a crucial role in the employer's withholding of income taxes from an employee's compensation, as it provides essential information for accurate tax calculations.

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Question 2 of 10
Which of the following is an example of a value?
A. Sports
B. Public speaking
C. Coding skills
D. Responsibility
SUBMIT

Answers

Answer:

》resonsibility

............................

how do you wrrite the word pneumonoultramicroscopicsilicovolcanoconiosi aand what does it mean?

Answers

Answer:

Pneumonoultramicroscopicsilicovolcanoconiosis

Explanation:

Pneumonoultramicroscopicsilicovolcanoconiosis is a phrase used to describe a lung condition produced by inhaling silica dust, as in I had difficulty breathing and my doctor diagnosed me with pneumonoultramicroscopicsilicovolcanoconiosis.

What are some reasons that a bank statement might not match a cash balance of a business's records? Choose all answers that are correct.

Question 1 options:

posted payments on credit cards


bank errors


outstanding deposits


service charges


recorded checks


outstanding checks

Answers

Answer:

outstanding deposits, outstanding checks, posted payments on credit cards

Explanation:

Bank errors, Outstanding Deposits, Service Charges, and Outstanding checks are some reasons that a bank statement might not match the cash balance of a business's records. The correct options are B, C, D, and F.

What information does a bank statement provide?

Name, address, account number, and bank branch information are all listed on bank statements for account holders. Additionally, a summary table that displays the statement's time frame, opening and closing bank balances, deposits made to the account, refunds, and cash withdrawals is included. In addition, fines levied by your bank as well as declined or canceled payments will appear on your statements.

Differences between the two records could be the result of Deposits in transit: The firm may have received cash or cheques, but the bank may not have yet recorded them. Outstanding checks are ones that have been issued but have not yet been processed. Bank service fees: Banks frequently deduct service fees.

Thus, the ideal options are B, C, D, and F.

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The similarity between monolithic organizations and pluralistic organizations is that.

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The similarity between monolithic organizations and pluralistic organizations is that they both are a kind of organizational structure. Monolithic organization refers to an organization structure that is centralized, hierarchical, and rigid.

This structure has a highly formalized communication system where communication is mostly vertical. In such an organization, decision making comes from the top and then trickles down the lower levels of the hierarchy. The people working at the bottom levels of the hierarchy tend to follow a specific set of rules. The central authority has complete control over the organization.

Pluralistic organization refers to an organizational structure that is decentralized, and the authority is distributed across various departments and divisions. It is a structure where various interest groups and departments coexist and operate with independence. The flow of communication is multidirectional, and employees at all levels have more opportunities to contribute to the decision-making process. The power is distributed to different departments and units that operate independently.A similarity between monolithic organizations and pluralistic organizations is that they both are a kind of organizational structure.

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which part of our body is affected by plogue pose?​

Answers

Answer:

spine and shoulders are affected

The spine and the shoulders of our body part are mostly affectd by the plogue pose. It stretches our body muscles.

Plow Pose

It is a stretching exercise which keeps your body fit and flexible.

Doing stretching exercise regularly benefits the body mucles and tendons.

The plow pose is a stretching exercise where one positions his/her body upside down and keeps their feet bend over the head.

This pose affects our spine and also our shoulders.

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which part of our body is affected by plogue pose?

The rise or fall in the price of an item is an.example of which of the following?
O Inflation risk
O Personal risk
O Income risk
O Interest rate risk

Answers

Answer:

Inflation risk

Explanation:

I am taking a class this right now

Answer:

income risk

Explanation:

i do the test

ok, so actually im not here for my own answer. Im helping others who do need help right now so just reply if u need help<3

Answers

Answer:ok I need help

Explanation:

ok, so actually im not here for my own answer. Im helping others who do need help right now so just reply

in a perfectly competitive market, if the quantity demanded exceeds the quantity supplied, we expect prices to:

Answers

This excess supply puts downward pressure on price and we expect the price to fall in the market.

State one reason why a business would want to offer a high-quality service

Answers

Answer:

so as to make trust to his contomers and well managed

Happy customers build a better reputation.
Positive reputation leads to higher growth. Reputation goes a long way in a business. It attracts customers, investors, partnerships, and employees.

TRUE / FALSE. Question 2. PART B (10 points) (1) According to purchasing power parity, high inflation countries tend to experience nominal appreciations. True or False? Explain in no more than two or three sentence

Answers

True. According to purchasing power parity, high inflation countries tend to experience nominal appreciations.

According to the purchasing power parity (PPP), the nominal exchange rate between two currencies should be equal to the ratio of the general price level of the two countries. In other words, the exchange rate should adjust to reflect differences in inflation rates between countries. If a country has higher inflation, then its goods will become relatively more expensive compared to other countries. Therefore, the currency of that country should depreciate in order to compensate for the higher prices. Conversely, if a country has lower inflation, then its goods will become relatively cheaper compared to other countries. Therefore, the currency of that country should appreciate to reflect the cheaper prices.So, it is true that high inflation countries tend to experience nominal appreciations under PPP, as their currencies will need to appreciate to reflect the higher prices in order to maintain the same level of purchasing power. Conversely, low inflation countries tend to experience nominal depreciations under PPP, as their currencies will need to depreciate to reflect the lower prices in order to maintain the same level of purchasing power.

Therefore, it is true that high inflation countries tend to experience nominal appreciations according to purchasing power parity.

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holding all other forces constant, when the price of gasoline rises, the number of gallons of gasoline demanded would fall substantially over a ten-year period because:_____.

Answers

Holding all other forces constant, when the price of gasoline rises, the number of gallons of gasoline demanded would fall substantially over a ten-year period because buyers tend to be much less sensitive to a change in price when given more time to react.

Demand is an economic concept that connects with a customer's craving to buy labour and products and eagerness to follow through on a particular cost for them. An expansion in the cost of a decent or administration will in general diminish the amount requested. In like manner, a reduction in the cost of a decent or administration will expand the amount requested.

Demand is an idea that shoppers and organizations are exceptionally acquainted with in light of the fact that it seems OK and happens normally throughout basically quickly. For instance, customers with an eye on items that they need will purchase more when the items' costs are low. When something ends up raising the costs, for example, a difference in season, customers purchase less or maybe none by any stretch of the imagination.

By and large talking, there is market interest and total interest. The market request is the complete amount requested by all shoppers in a business opportunity for a given decent. Total interest is the absolute interest for all labour and products in an economy. Various stocking procedures are frequently expected to deal with requests.

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name 5 types of business farms​

Answers

Answer:

sole proprietorshiplimited liability companypartnershipcorporationcooperative.

Answer: sole proprietorship

limited liability company

partnership

corporation

cooperative.

non profit corparation

Explanation:

point) Andrea is a preschool teacher. She works with three- and four-year olds every day from 9am to 3pm. She does not work over the holidays. This is an example of a
traditional career
entrepreneurship
remote worker
non-traditional career​

Answers

Answer:

traditional career

Explanation:

Since in the given situation Andrea who is a preschool teacher and wants to work with 3-4 years old everyday having a shift of 9 am to 3 pm. Moreover, she does not work in the holidays, so this is an example of a traditional career as she is a preschool teacher so it defines the traditional career

Hence, the other options would be incorrect

digital technologies have caused a massive shift in how and where people buy, today's retailers must adopt what retailing strategy to address the new retailing model?

Answers

The digital transformation of retail can increase customer happiness and retention by giving customers the goods and services they want.

Digital technologies  what are they?

Digital technologies are any techniques, systems, equipment, or resources that produce, store, or process data electronically. Social media, online games, multimedia, and mobile phones are popular examples. Any sort of learning that employs technology is considered digital learning.

What alterations has technology made to the retail sector?

The purchasing experience is more effective, more individualized, and more practical thanks to mobile technologies. Any retailer must focus on providing satisfying customer experiences. Mobile apps can speed up checkout procedures, assist customers find products, and provide customer care. The bottom line of the retailer also gains from this.

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Which statement best summarizes the role of households in the flow of
goods?
A. Households act as consumers for goods made by businesses.
B. Households provide natural resources to businesses.
O C. Households trade goods between product and resource markets.
D. Households sell products created in product markets.

Answers

Answer:

A. Households act as consumers for goods made by businesses.

Explanation:

The statement that best summarizes the role of households in the flow of goods is Households act as consumers of goods made by businesses. The correct option is A.

In the circular flow model of economics, households are a key component in the flow of goods and services. Households provide labor and other resources to businesses in exchange for wages and other forms of income. They then use that income to purchase goods and services produced by businesses, which helps to sustain economic activity.

In this model, businesses are the primary producers of goods and services, and households act as consumers of those goods and services.

Therefore, option A, "Households act as consumers for goods made by businesses," best summarizes the role of households in the flow of goods.

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select all that apply which of the following is/are true about the impact of variability on managing processes? multiple select question. customers understand that process variability occurs and accept that delays are inevitable. variability in processes can make planning and managing the process more challenging. process variability can lead to product delays and shortages, which can lead to a damaged company reputation.

Answers

Option B is correct. Variability in processes can make planning and managing the process more challenging. Process variability can lead to product delays and shortages, which can lead to a damaged company reputation.

What is process variability?

Process variability highlights the underlying variations and oscillations in a process's outcome. A number of things, including variances in building ingredients, logistics planning, human mistake, or ecological factors, might contribute to it. Process variability can cause problems including delays, faults, and higher costs while also affecting a process's effectiveness, efficiency, and quality. To maintain quality and consistency of output, businesses must track and manage process variability. To recognize and minimize process variability, strategies like Statistical Process Control (SPC) and Six Sigma can be applied.

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1.All of the following activities would violate the Civil Rights Act of 1964 EXCEPT for which one?
A Major League Baseball team refuses to hire a pitcher because the pitcher has dark skin.
A Major League Baseball team refuses to hire a pitcher because the pitcher was born in France.
A Major League Baseball team refuses to hire a pitcher because the pitcher practices Buddhism.
A Major League Baseball team refuses to hire a pitcher because the pitcher is left-handed.

Answers

The activity that would not violate the Civil Rights Act of 1964 is: A Major League Baseball team refuses to hire a pitcher because the pitcher is left-handed.

The Civil Rights Act of 1964 prohibits discrimination based on race, color, religion, sex, or national origin. Refusing to hire someone based on their race (dark skin), national origin (born in France), or religion (practices Buddhism) would violate the Act. However, being left-handed is not a protected characteristic under the Civil Rights Act, so refusing to hire someone based on their left-handedness would not be a violation.

A pitcher is a player in the sport of baseball who throws the ball towards the batter from the pitcher's mound. The pitcher plays a crucial role in the game, as their primary objective is to prevent the opposing team from scoring runs by delivering accurate and strategic pitches. Pitchers are responsible for controlling the game's tempo, determining pitch selection, and using their skills and techniques to outsmart and deceive batters.

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Match the level of unemployment with the condition of the overall economy. Unemployment equals the natural rate. Cyclical unemployment equals zero. Unemployment is below the natural rate. Unemployment is above the natural rate. Actual GDP is below potential GDP. Actual GDP is equal to potential GDP. Actual GDP is above potential GDP.

Answers

Answer:

Note: The organized question is attached as picture

1. Actual GDP is below potential GDP

Level of unemployment: Unemployment is above the natural rate

2. Actual GDP is equal to potential GDP

Level of unemployment: Unemployment equals the natural rate

3. Actual GDP is above potential GDP

Level of unemployment: Unemployment is below the natural rate

Match the level of unemployment with the condition of the overall economy. Unemployment equals the natural

When an excise tax is imposed on sellers, this will cause the ________ curve to shift __________.

Answers

When an excise tax is imposed on sellers, this will cause the supply curve to shift left.

Specifically, the supply curve will shift to the left, meaning that the quantity supplied at each price level will decrease.

This occurs because the tax increases the costs for sellers, reducing their incentive to supply the good or service. To understand this, let's consider an example.

Imagine a market for cigarettes. If the government imposes an excise tax on cigarette sellers, they will now have to pay an additional cost per pack of cigarettes they sell. This increased cost will lead to a decrease in the quantity supplied at each price level. As a result, the supply curve will shift to the left.

This shift in the supply curve has several implications. First, it leads to a higher equilibrium price for the consumers. Second, the quantity demanded and quantity supplied will both decrease. Finally, the burden of the tax will be shared between the buyers and the sellers, depending on the relative elasticities of demand and supply.

In summary, when an excise tax is imposed on sellers, the supply curve shifts to the left, resulting in a decrease in quantity supplied and potentially higher prices for consumers. The burden of the tax is shared between buyers and sellers.

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Operational CRM applications include tools for all of the following except:
a) sales force automation.
b) call center support.
c) marketing automation.
d) customer service support.
e) calculating CLTV.

Answers

Answer:

e) calculating CLTV.

Explanation:

e) calculating CLTV.

Operational CRM applications are focused on streamlining the business processes that involve direct interaction with customers. They include tools for sales force automation, call center support, marketing automation, and customer service support. However, calculating customer lifetime value (CLTV) is a part of analytical CRM applications that provide insights and analysis on customer behavior and trends.

how long do you have to be on title to refinance fannie mae

Answers

In order to refinance with Fannie Mae, you typically need to have been on title for at least six months. This is known as the seasoning requirement, which is designed to prevent fraud and protect against inflated appraisals. During the six-month period, you are expected to make timely mortgage payments and maintain the property in good condition.

Once the seasoning requirement has been met, you may be eligible to refinance your mortgage with Fannie Mae. However, keep in mind that there are other eligibility criteria that must be met, such as credit score, debt-to-income ratio, and loan-to-value ratio. It's important to work with a qualified lender or mortgage broker to determine if you meet these requirements and if refinancing with Fannie Mae is the right option for you.

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Bill wants to prepare his own taxes but wants a bit more guidance. He wants to file taxes without having to spend much money. What is his BEST option for filing taxes?

A. Prepare his taxes on her own.

B. Prepare his taxes with using an electronic tax program.

C. Hire someone to prepare his taxes.

Answers

Answer: B. Prepare his taxes with using an electronic tax program.

Explanation: had this question and got it correct!

As Sonam Bakery increases its staff from 1 to 10 baker, it experiences increasing marginal returns. Explain the circumstance for the bakery's increasing marginal return. 2 3 4 4​

Answers

Answer:

Increasing marginal returns occur when the addition of one more unit of input (in this case, hiring an additional baker) leads to a more than proportional increase in output (in this case, the amount of baked goods produced).

In the case of Sonam Bakery, there are several possible reasons why increasing marginal returns are being experienced as the number of bakers increases:

1. Division of Labor: With more bakers, the work can be divided more efficiently, with each baker specializing in a particular task or type of baked good. This can lead to increased productivity and output.

2. Specialization: As each baker becomes more experienced and specialized in their role, they can work faster and produce higher quality baked goods, leading to an increase in overall output.

3. Economies of Scale: As the bakery grows and produces more baked goods, it may be able to purchase ingredients in larger quantities at a lower cost, reducing the overall cost per unit and increasing profitability.

4. Improved Equipment and Technology: With more staff and revenue, the bakery may be able to invest in better equipment and technology, leading to improved efficiency and output.

Overall, the combination of these factors and the efficient use of resources, such as labor and technology, can lead to increasing marginal returns as the bakery grows its staff from 1 to 10 bakers.

The circumstance for the bakery's increasing marginal return is

Division of LaborJob specializationAdvancement Technology

What is the significance of marginal return?

In hopes to identify the optimum combination in production within an organization, marginal return—the rate of return for a marginal increase in investment—is essential.

The bakery might be capable of purchasing better tools and technology with more workers and income, which would increase productivity. Bakers can work more quickly and make goods of higher quality as they gain expertise and specialize in their respective roles.

As the bakery expands its workforce from one to ten bakers, the combination of these characteristics and the efficient use of resources, such as labor and technology, can result in rising marginal returns.

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What is the nine business blocks

Answers

Answer:

The nine business blocks are; customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.

Explanation:

These business blocks are part of a business model, which is something that many new entrepreneurs use as part of a design detailing how a business can function and operate successfully, especially when depending on the environment their businesses are set in. Within business models, there are four central parts that relate to; customers, offering, infrastructure, and financial viability. With that comes nine key blocks that describe it, and those nine building blocks (which are stated in the answer section above) all relate to the four central parts of the business model.

Sources:

https://opentextbc.ca/organizationalbehavioropenstax/chapter/business-model-canvas/https://medium.com/the-second-act/the-9-building-blocks-of-your-business-model-e9cdfe996ff5

Which of the following real estate investments were involves purchasing real estate and charging a monthly fee for use of your space

Answers

Answer:

when you flip you buy at a low price, fix it up then sell at a higher price for profit. usually in less than 6 months.

Rick mendez bought stock for $5,000, using $2,500 of his own money and $2,500 borrowed from the broker. One month later, the stock is sold for $5,650. Interest owed to the broker is $30; brokerage commissions to buy and sell the stock totaled $300.

Answers

The rate of return earned by Rick Mendez from the stock investment is 12.8%.

What is the rate of return?

The rate of return is the gain (or loss) earned from an investment expressed as a ratio of the initial investment cost.

For instance, the rate of return is the difference between the total costs of an investment and its sales proceeds, multiplied by 100.

The investment cost of stock = $5,000

Proceeds from the sale of the stock = $5,650

Broker's finance = $2,500

Interest on borrowed funds = $30

Brokerage commissions = $300

Total brokerage finance costs = $2,830

Net proceeds after brokerage costs = $2,820 ($5,650 - $2,830)

Investment using own funds = $2,500

Gain from investments = $320 ($2,820 - $2,500)

Rate of return = 12.8% ($320/$2,500 x 100)

Thus, we can state that Rick Mendez's investment in the stock yielded a return of 12.8%.

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Question Completion:

What is the rate of return earned by Rick Mendez?

proponents against corporate social responsibility feel that public officials, not business people, should solve societal problems because: group of answer choices business people do not have the skill set to solve societal problems. the private sector is not mandated to solve these issues. both of these answers are correct. neither of these answers is correct.

Answers

The correct answer is: neither of these answers is correct. Proponents against corporate social responsibility do not necessarily arg-ue that business people la-ck the skill set to solve societal problems.

They may believe that businesses should focus solely on generating profits and that solving societal problems should be the responsibility of public officials or government entities.

Similarly, the argument against corporate social responsibility does not hi-nge on whether the private sector is mandated to solve these issues or not. Opponents of CSR may simply believe that businesses should prioritize their primary goal of maximizing profits and leave societal problem-solving to government or public sector organizations.

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What type of transactions should be recorded in the Payment, Fee, Withdrawal column
of your check register?

Answers

I don’t know Iam adult but I don’t know

excel provides _____ in categories such as financial management and budgets.

Answers

Excel provides Expenses in categories such as financial management and budgets.

Excel is a Microsoft Office application designed to carry out variation functions, including financial analysis.

Microsoft Excel can be used in many ways. When it comes to finances, it can be used for budgeting or costing before a product or project is made, where each expense is categorized under a different heading.

Microsoft Excel can also carry out a valuation of expenses made, with each expense listed under different categories.

Hence, in this case, it is concluded that Microsoft Excel is a vital tool in financial management.

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which sociological perspective would argue that access to white privilege affords power and more economic opportunity to white people, while racism negatively impacts the ability of people of color to achieve upward social mobility? round to the nearst tenth A square patio has an area of 116 ft. how long is each side of the patio nearest 10th box, a nongovernmental not-for-profit organization, had the following transactions during the year: proceeds from sale of investments $80,000 purchase of property, plant, and equipment $10,000 proceeds from long-term debt $100,000 loss on sale of investment $5,000 what amount should be reported as net cash provided by financing activities in box's statement of cash flows? The ages of three girls; Mandy, Dora and Ann are, 113 base 4 , 133 base 4 , and 131 base 4 respectively;find the difference between the sum of the ages of Dora and Ann and that of Mandy Describe two actions taken by colonial patriots to protest the British government's authority in the years leading up to the American Revolution? * Com((uge)(mCantiSOUPSOUR3805NISou?TRUMSOUPCOMLoerMOSourcaCamaleTanakaCanadaLOUPSOUPSou!TOPSOUP380toerSOUPCameliaegyiCandidCanalCOMLourSOUPSOPWOMANSOUPSOUSoursou?OUPa.Who is the artist of the image above?Richard Hamiltonb. Roy LichtensteinC. Andy Warhold. Wayne Thiebaud what happen if china wont be there in the earth ?? don has a garden that has a width that is 5 feet less than 4 times the length. the garden length is x feet. Write an expression that could be used to find the width, W, of the garden given the length. Your 300 mL cup of coffee is too hot to drink when served at 88.0 C. Part A What is the mass of an ice cube taken from a -19.0C freezer, that will cool your coffee to a pleasant 63.0? The old engine sprung to life happy to be running again Use the table to find the average rate of change over the interval [1,9]. Pre-Algebra- I need halp Solve for the node Voltages \( V_{A}-V_{\epsilon} \). Measures of Center and Variability worksheet page 2 Which of the following models represents an atom that is more reactive than theothers represented? why does the muscle not constantly shorten and lengthen as crossbridges bind and unbind during a muscle contraction? in other words, why is muscle contraction smooth? Scenario: Your company has been asked to provide advice to the Australian Government on anumber of proposals it has received from the (fictional) Australian Civil Engineers Union(ACEU)*. The ACEU is concerned that the number of civil engineers is declining in Australia.This is partly due to the fact that other types of engineers (such as mechanical and electrical) areearning higher wages despite undergoing similar training at university. To address the decline,the union is lobbying the government to adopt a number of policies, specifically: i) provide a taxrebate to individuals working in a civil engineering job; ii) invest in the quality of civilengineering training so that Australian civil engineers are the best in the world; and iii) lower thecost of the civil engineering major at universities.Task: Write a brief report (approximately 1,250 words) that critically analyses the labour marketoutcomes from the three policies suggested by the ACEU. Your report should discuss the impacton the supply and demand for engineers in Australia, both civil engineers and other types ofengineers. Use appropriate diagrams to support your discussion, and comment on the impact onwages and productivity in the different labour markets. You should also discuss any economiccosts that might arise from the policies (like deadweight losses). What are the muscles of the lower legs? Which best describes the action process?a. desire something; develop goal; feedback; execute planb. desire something; feedback; develop goal; generate planc. desire something; develop goal; execute plan; feedbackd. desire something; develop goal; feedback; generate plan