Looking at the table National Income Accounts, the value of net capital inflow is $0.5 trillion. Option B is the correct answer.
National Income Accounts is an accounting system used in macroeconomics to track a country's economic activities. National Income Accounts measure the overall economic output of a country in terms of its national income, national output, and national expenditure. It is frequently used to quantify the level of economic activity in a country. The given table shows the National Income Accounts. Net capital inflow in National Income Accounts is referred to as the difference between a country's total capital inflows and outflows from overseas investors or countries. It is an important economic measure that shows how much foreign investment is entering or leaving a country. We can observe that the net capital inflow value in the given table is $0.5 trillion, which is the answer.
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Drag the tiles to the correct boxes to complete the pairs.
Match the cost or benefit with the appropriate spending decision.
Answer:
can result in crushing interest expenses, obtaining a loan for a major purchase
can help in any emergency using your savings account money
does not require planning, making impulse purchases
establish good credit using credit card
Answer:
tile: Making impulse purchases = pairs: does not require planning
tile: Using credit cards = pairs: can result in crushing interest expenses
tile: Obtaining a loan for a major purchase = pairs: establishes good credit (if the payments are made on time every month until paid off)
tile: Using your savings account money = pairs: can help in an emergency
Explanation:
1st tile: by definition an impulse purchase is made quickly, without any planning.
2nd tile: if credit cards are used without paying off balances every month can lead someone to accruing large amounts of interest charges and can lead to financial ruin.
3rd tile: Typically when making large ticket purchases like homes or cars can build a great credit history because it gives you credit history and payment timeliness history.
4th tile: Typically when emergencies happen, there is no time for payments or financial planning. Savings funds can help during unplanned or emergency financial situations such as unplanned car repairs or car accidents.
What is viability factors researches the demand for products or services?
Answer:
Viability is a mass noun that refers to something's capacity or potential for success. It may be a demand, an idea, a project, or even a plan to change how a business runs. Establishing viability is the goal of a viability evaluation. Product viability is the capacity of a software product to maintain itself or reach its potential.
Explanation:
The term "market viability" describes the commercial potential of a certain market. You may decide whether starting a business in a specific market makes financial sense with the use of a market viability analysis.
Industry size: Is there adequate room on the market for new vendors? Exists room for improvement?
Target market: Do potential customers have more money to spend? Can they afford to purchase your offering?
Competition: Who are the major retailers in this industry, in terms of competition? What are their advantages and disadvantages? How are you going to rival them?
Your objective is to eliminate any markets that are too small, too competitive, or comprised of clients who are unable or unable to pay your prices.
Buying and selling products online is called ____________. A. Information systems B. Browsing the web C. E-commerce D. E-mailing
Answer:
The answer is C. E-commerce
Explanation:
E-commerce refers to the process of buying or selling products or services over the Internet. So i believe this is the answer to the question.
Buying and selling products online is called E-commerce. Hence, option C is appropriate.
What is the meaning of E-Commerce?Online purchasing and selling of products and services is known as e-commerce. Affiliate marketing strategies are also a possible part of the definition of an e-commerce firm. To increase online sales, you can leverage e-commerce platforms like your own website, a well-known retailer like Amazon, or social media.
E-commerce is the electronic purchase or sale of goods through online stores or the Internet. E-commerce, often known as electronic commerce, is the exchange of goods and services as well as the sending of money and data through an electronic network, most commonly the Internet. These business dealings can be either B2B (business-to-business), B2C (business-to-consumer), C2C (consumer-to-consumer), or C2B.
Online purchasing and selling of products and services is known as e-commerce. Tactics are another component of the concept of an e-commerce business.
Hence, option C is correct.
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Develope descriptions for the important Knowledge, Skills, Abilities, and Other Attributes (KSAO's)
To do so you will need to answer the following questions:
1) What knowledge does it take to perform these tasks?
2) What skills are required to perform these tasks?
3) What abilities and other characteristics are required to perform these tasks? A minimum of 8 and a maximum of 20 worker requirements should be appropriate.
Developing descriptions for KSAOs involves identifying the necessary knowledge, skills, abilities, and other characteristics. Encompassing 1) knowledge, 2) skills, and 3) abilities/characteristics.
1) What knowledge is required to perform the tasks?
- Knowledge of relevant theories, concepts, and principles related to the job
- Familiarity with industry trends and regulations
- Understanding of best practices and techniques
2) What skills are necessary to perform the tasks?
- Technical skills specific to the job, such as programming or data analysis
- Communication and interpersonal skills to interact effectively with others
- Problem-solving and critical thinking skills to analyze and address challenges
- Organizational and time management skills to prioritize tasks and meet deadlines
- Leadership and teamwork skills to collaborate with colleagues
3) What abilities and other characteristics are needed to perform the tasks?
- Adaptability and flexibility to handle changing demands and situations
- Attention to detail to ensure accuracy and quality of work
- Resilience and perseverance to overcome obstacles and setbacks
- Creativity and innovation to generate new ideas and solutions
- Emotional intelligence and empathy to understand and relate to others
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is the cost of borrowing or the price paid for the rental of funds expressed as a percentage per year.
Yes, the cost of borrowing or the price paid for the rental of funds is expressed as a percentage per year.
This percentage is known as the interest rate, which is the cost of borrowing or the price paid for the rental of funds.Lenders charge interest on the amount of money that they lend to borrowers because they are risking their money.
The interest rate can vary depending on a number of factors, such as the creditworthiness of the borrower, the length of the loan, and the amount of the loan. The interest rate is typically expressed as an annual percentage rate (APR), which is the amount of interest that the borrower will pay on an annual basis.
For example, if a borrower takes out a $10,000 loan with an interest rate of 5%, they will pay $500 in interest per year.
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Pay-mor convenience stores, inc. , is a franchisor. Randy operates a pay-mor franchise. Sam is one of randy's employees. As a franchisor, if pay-mor controls the day-to-day operations of the business to a significant degree, it may be liable for tortious acts by
Yes, if Pay-Mor controls the day-to-day operations of Randy's franchise to a significant degree, it may be liable for tortious acts committed by Sam, Randy's employee.
As a franchisor, Pay-Mor may have certain legal responsibilities and potential liabilities for the actions of its franchisees and their employees. Whether Pay-Mor can be held liable for tortious acts by Sam, Randy's employee, depends on the level of control and involvement Pay-Mor has in the day-to-day operations of the franchise.
If Pay-Mor exercises significant control over the operations, including policies, procedures, employee training, and quality control, it could be deemed to have a level of control that makes it responsible for the actions of franchisees and their employees. This concept is known as vicarious liability or agency liability.
Under the legal doctrine of respondeat superior, an employer or franchisor can be held responsible for the wrongful actions committed by its employees or franchisees in the course of their employment or franchise relationship. This doctrine applies when the employee or franchisee is acting within the scope of their employment or franchise duties.
However, the extent of control required to establish liability can vary depending on the specific circumstances and jurisdiction. Courts will examine factors such as the level of control exercised by the franchisor, the extent of control over day-to-day operations, the degree of supervision, and the overall relationship between the franchisor and franchisee.
If Pay-Mor exercises significant control over Randy's franchise and has the ability to direct and supervise the actions of Randy and his employees, there is a higher likelihood that Pay-Mor could be held liable for tortious acts committed by Sam. It is important for franchisors to establish clear guidelines, policies, and training programs to minimize the risk of such liability and ensure that franchisees and their employees act in accordance with applicable laws and regulations.
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Please read instructions all the way through, brainiest will be given and 50 pts. Explain the logistics of product delivery. Describe the ins-and-outs of importing and exporting your products. What are the most critical components of delivery and importing/exporting? (i know for a fact that you have to do research on latest distribution trends and i can give you a link to a possibly helpful website if you need, i mainly need pointers for starting off and maybe a little bit of guidance in creating a 2 page response)
Answer:
The logistics of product delivery could be described as all that's entailed in ensuring a goods or product gets to a customer's destination after it has been purchased from a particular destination.
Explanation:
The logistics of product delivery could be described as all that's entailed in ensuring a goods or product gets to a customer's destination after it has been purchased from a particular destination. It might include shipment or freight if the goods is coming from outside the desired clients location.
Ins-and-outs of importation;
- You'd have to decide the country you're buying from
- The next is to search for suppliers, those who sell the item in that particular country you've searched.
- You'll then need to search what their duty and taxes are, which you'd have to consider in the cost
- Finally, you'll need to find a reliable freight forwarder and customs broker who would handle the clearing of the goods when they get to your country.
Export has the same but there some changes as this time you'd have searched those who need your product and considered all that's needed to ship in your country and how it'll be cleared over your customers destination
am kandy but pls don't friends me...thank me or comment on this q anymore cz this is my school acc.
The demand and supply functions of rice is given as P = 200 – 0.5Q and P = 100 + 0.5Q, respectively. Solve for the equilibrium price and quantity in the rice market. If the government implements a price floor of $180 per unit of rice, appraise the efficiency of the rice market by computing the consumer surplus, the producer surplus and the deadweight loss (if any) in the rice market. Support your answers with a suitable rice market diagram and comment on the winner and loser under this policy
The equilibrium price and quantity in the rice market can be found by equating the demand and supply functions. Given the demand function P = 200 – 0.5Q and the supply function P = 100 + 0.5Q, we can solve for the equilibrium price and quantity.
To find the equilibrium price and quantity, we set the demand and supply functions equal to each other:
200 – 0.5Q = 100 + 0.5Q
Simplifying the equation, we get:
1Q = 100
Q = 100
Substituting the value of Q back into either the demand or supply function, we can find the equilibrium price:
P = 200 – 0.5Q
P = 200 – 0.5(100)
P = 200 – 50
P = 150
Therefore, the equilibrium price is $150 per unit and the equilibrium quantity is 100 units.
If a price floor of $180 is implemented, it is above the equilibrium price. This means that the government sets a minimum price at which rice can be sold. In this case, the new market equilibrium will be at the intersection of the supply curve and the price floor line, which occurs at a quantity of 80 units. The price will remain at $180. To assess the efficiency of the rice market, we can analyze the consumer surplus, producer surplus, and any deadweight loss. Consumer surplus is the area above the price and below the demand curve, and producer surplus is the area below the price and above the supply curve. Deadweight loss represents the loss of total surplus due to market inefficiency.
In the given situation, the consumer surplus decreases as some consumers are willing to pay less than the price floor but are forced to pay the higher price. Producer surplus increases as producers receive a higher price for their rice. However, there is a deadweight loss represented by the triangular area between the original demand curve, the supply curve, and the price floor. The winners under this policy are the producers, as they benefit from the higher price and increased producer surplus. The losers are the consumers who have to pay a higher price, leading to a decrease in consumer surplus.
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under the commercial property policy, building and personal property form coverage a, b, and c represent:
Under the commercial property policy, coverage A, B, and C represent different aspects of protection for buildings and personal property. Coverage A: This provides coverage for the building itself, including its structure and permanent fixtures.
For example, if a fire damages the building, coverage A would help pay for the repairs or rebuilding of the structure. Coverage B: This covers the personal property owned by the business that is used to conduct its operations. It includes items such as equipment, inventory, and furniture. If these items are damaged or destroyed due to a covered event like a theft or a flood, coverage B would help replace or repair them.
Coverage C: This represents coverage for personal property of others that is under the care, custody, or control of the insured business. This could include property belonging to customers or clients that is temporarily in the business's possession. For example, if a customer's laptop is damaged while in the care of the business, coverage C would help cover the cost of repair or replacement.
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Rachel deposited $4000 into an account with 5% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 5 years? Do not round any intermediate computations, and round your answer to the nearest cent SD
The future value of the investment is $5105.13
Principal Amount (P) = $4000
Time (t) = 5 years
Interest Rate (r) = 5% compounded semiannually
We can use the compound interest formula to find the future value of the investment after 5 years.
The compound interest formula is given by:
A = P(1 + r/n)^(n*t)
Where:
A is the future value of the investment.
P is the principal amount.
r is the annual interest rate (as a decimal).
t is the time the money is invested or borrowed for.
n is the number of times that interest is compounded per unit t.
We can substitute the given values in the formula:
A = 4000(1 + 0.05/2)^(2*5)
A = 4000(1.025)^(10)
A = 4000(1.276282051) ≈ 5105.13
Therefore, the future value of the investment is approximately $5105.13.
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A real estate agent would like to know how much she can expect a home to sell for depending upon the square footage of the home. Complete the statement based on the information. In this case, the explanatory variable is the and the response variable is the.
An explanatory variable that explains the results is the intended cause. The response variable, or anticipated outcome, responds to the explanatory variables.
According to your predictions, changes in one explanatory variable will occur before any modifications to the response variable. The variables are connected causally, either directly or indirectly. Through a mediator in a connection, an explanatory variable may indirectly affect a response variable. In the case of purely correlative relationships, there are no explanatory and response variables. A response variable may be the cause of both changes, even though changes in one variable are connected to changes in another. Explanatory and independent factors are very similar, but they also differ just somewhat. Research theory holds that independent variables are only subject to manipulation or modification at the hands of researchers and are not anticipated to be impacted by or dependent upon any other variables. If you do a controlled experiment in which you can exactly regulate how much caffeine each participant takes, the caffeine dose is an independent variable. However, the term "explanatory variable" is occasionally preferred over "independent variable" since independent variables can occasionally be influenced by other variables in real-world contexts. It appears from this that they are not truly independent.
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Answer:
-square footage
-selling price
Explanation:
edge 2023
Tell us about a time when you went above and beyond for a customer or a time someone went above and beyond for you.
As a customer service representative, I have always strived to exceed customer expectations. After helping the customer with the problem, we will get back to you the next week. I will double-check if there is anything wrong with the product you purchased and if there is anything else I can help you with. My simple approach helped these customers make a good impression on the company and improved customer satisfaction.
When preparing responses to behavioral interview questions such as the following, you can organize your ideas according to the STAR format.
S: Situation - Brief background to the story.
T: Task - Please describe what was expected of you and the minimum required.
A: Action - tells you what you did and how you did it.
R: Results - Finally, show that your efforts have led to better results.
Five Mistakes to Avoid
Don't talk too much.
Avoid non-work experience.
Avoid vague answers.
Avoid suspicious situations (such as unethical behavior).
It doesn't sound like you were forced to do what you did.
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Why is formal training of workers so important to most employers? Why don't employers simply let people learn about their jobs as they perform them?
Answer:
The formal training is so important because of the benefits that bring to the company and the problems it could avoid.
Explanation:
To begin with, the fact that most of the companies consider important to provide a training program for their workers in the cases necessary indicates that the companies understand the fact that the workers need to be at their top level if they can when starting to work for the company, so in that order they will make no mistakes or at least the less possible. So that is the main reason why the employers do not let the people start working inmediately and learn from regular experience, so that they can avoid making mistakes and therefore avoid to elevate costs of money and time, etc.
Corinth's labor supply grew by 1.4% and land stock grew by 1% from 425 BCE to 424 BCE. Landowners received 50% of income. If total factor productivity grew by 0.3% find the growth rate of aggregate output.
Answer:
1.51%
Explanation:
Recall that:
Total Output = \(A\times K^a \times ^{1-a}\)
here;
A = total productivity factor
K = capital input
L = labor input
SInce Landowners gets 50% of income; then a = 0.50
\(= A\times K^ {0.50} \times ^{1-0.50}\)
Output at 424BBC
\(= 1.003A \times (1.014K)^{0.5}(1.01L)^{0.5}\)
\(= 1.003 \times (1.007)(1.005)AK^{0.5}L^{0.5}\)
\(=1.0151AK^{0.5}L^{0.5}\)
Thus, the growth rate from 425 BCE to 424 BCE :
= 1.0151 - 1
= 0.0151
= 1.51%
Which level of government are Planning workers most likely to work for?
A) state
B) federal
C) local
D) international
The level of government is Planning workers most likely to work for local. Thus, the correct option is (C).
A single sovereign state's lowest levels of public administration are collectively referred to as "local government" in the United States.
When the word "government" is used in this context, it explicitly alludes to a level of bureaucracy that is geographically confined and has a set of responsibilities.
A variety of essential services for residents and companies in certain areas are handled by the local government.
Therefore, the correct option is "C".
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one method for choosing the value of the exponential smoothing parameter is to find the value that would have yielded the best forecast for a set of data. (enter only one word per blank.)
One method for choosing the value of the exponential smoothing parameter is to find the value that would have yielded the best forecast for a set of data optimization.
Optimization is a method for choosing the value of the exponential smoothing parameter by finding the value that would have yielded the best forecast for a given set of data. This process involves iteratively testing different parameter values to minimize the error between the actual data and the forecasted values.
The objective is to find the optimal parameter value that minimizes the error, resulting in the most accurate forecast. This can be achieved using various optimization techniques, such as gradient descent or genetic algorithms, to systematically search for the optimal value in a given range of potential parameter values.
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the principle of need establishes a link between conduct annd consequence
The principle of need is a fundamental concept in legal and ethical frameworks that seeks to ensure that resources are distributed fairly and equitably.
This principle establishes a link between conduct and consequence, as it dictates that resources should be allocated based on an individual's need, rather than their ability to pay or other arbitrary factors. This means that those who require assistance or support the most should be given priority in the distribution of resources.
By emphasizing the importance of need, this principle helps ensure that resources are allocated more fairly and that those who are most vulnerable are given the support they need to thrive.
Question is incomplete the complete question is
What is the principle of need establishes a link between conduct and consequence?
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Select the correct answer. Which of these is an essential element of a formal email? A. sender's website B. date line C. subject line D. sender's home address
Answer:
The answer is C.
Explanation:
Email is an electronic method of sending mail to a friend, family, colleague, business partners, suppliers etc.
According to this question, the essential element of a formal email is Subject line(option C). The subject line give us the clue of what will be in the body of the mail. The subject line is like the title or the headline.
Option A is not correct because it is not usually in the mail. And this is the reason for the other incorrect options too.
Answer:
The answer is C
Explanation:
Supply chain analysis of Coca-Cola in Vietnam. And draw lessons for other bottled water companies.
Answer:
Coca Cola follows very stringent supply chain. It is one of leading beverage brand around the world.
Explanation:
Supply chain analysis is a process of evaluating different stages of supply chain from procurement of raw material to final delivery of finished goods. There are three different strategies for supply chain management, Strategic, Tactical and Operational. Coca Cola follows strategic supply chain management. McDonald's is Coca cola's largest customer and these two global companies maintains symbiotic relationship.
under the statute of frauds, how many specific requirements for the form of a written contract exists?
Under the statute of frauds, six specific requirements for the form of a written contract exists.
In the legal sense, fraud is the deliberate deceit used to get an unfair or illegal advantage or to deny a victim of a legal right. Fraud can be a violation of civil or criminal law, or it may not result in a loss of money, property, or legal rights but yet be a component of another civil or criminal wrong.
Fraud may be committed for financial gain, other benefits, such as getting a passport, travel document, or driver's licence, or for other reasons such as mortgage fraud, where the offender may try to qualify for a mortgage by making false representations. Internal fraud, commonly referred to as "insider fraud," is fraud perpetrated or attempted by a person who works for the business.
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You are considering buying stock A. If the economy grows rapidly, you may earn 40 percent on the investment, while a declining economy could result in a 15 percent loss. Slow economic growth may generate a return of 3 percent. If the probability is 12 percent for rapid growth, 27 percent for a declining economy, and 61 percent for slow growth, what is the expected return on this investment? Round your answer to one decimal place.
Answer:
the expected return is 2.58%
Explanation:
The computation of the expected return is shown below:
= respective weights × respective returns
= 40% × 12% + -15% × 27% + 3% × 61%
= 0.048 - 0.0405 + 0.0183
= 0.0258
= 2.58%
hence, the expected return is 2.58%
APR is typically higher than the interest rate because
*
1 point
APR is only associated with smaller loans
the interest rate only factors in the principle
interest rate is a better picture of the coast as a whole
APR includes fees and other costs
Answer:mk
Explanation:km
why do you think amazon became successful?
Answer:
This why.
Explanation:
Amazon is the largest and most successful retailer in the western world because they built the best customer experience. Customers expect 3 core things when they buy products online: Large Selection: Consumers always want to find the product they are looking for and, of course, this product should be in stock.
Answer:
One of the major reasons why Amazon was so successful was due to its costumer focused approach.In every step of the buyer's journey,no time is wasted.Customers are given what they want right away.Amazon has always worked hard on making things more user friendly.Amazon largely stems from its innovative technologies and practises.
Explanation:
I hope this helps....
jessie has $4,000 in a bank account, $2,800 in a 401(k) plan at work, a car with a current value of $28,000, and a house that she purchased for $92,000 that has a current value of $118,000. the current balance of her home mortgage is $81,000, she has one credit card with a $3,000 balance, and a student loan with a balance of $6,000. what is jessie's current net worth?
Throughout the past 65 years, financial innovation has provided American households with a constantly expanding range of financial options from a growing number of companies, along with a sometimes overwhelming amount of information.
Consumer finance has also grown more and more into a "do it yourself" activity (Ryan, Trumbull, and Tufano, 2010). In addition to choosing from a variety of credit instruments to pay for everything from a home purchase to short-term cash needs, households are expected to take on a larger degree of responsibility for their financial well-being in general. The kind of insurance policy and the coverage it provides should be mentioned in a financial strategy for asset protection.
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all of the following are characteristics of an asset except: it embodies a probable future economic benefit. its value is known with certainty. the enterprise can obtain the benefit or can limit others access to it.
Its value is known with certainty and is not a characteristic of an asset.
What is an asset?A property having economic worth that somehow a person, business, or nation possesses or administers well with the hope that it might someday be useful is referred to as an asset.
The price of the set keeps on changing with time as there is the type of assets like long-term assets, current assets, or short-term assets.
Also on some assets, there is depreciation by reducing the price also it depends upon the market fluctuation. Its worth is undeniably understood, which is therefore not an attribute about an asset.
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in which knowledge area do the best or alpha project managers spend almost twice as much time as typical project managers? group of answer choices controlling analyzing planning executing
According to research, the best or alpha project managers spend almost twice as much time in the planning knowledge area as typical project managers.
Planning is a crucial knowledge area in project management, as it involves defining project objectives, determining project scope, developing a detailed project schedule and budget, identifying and assessing project risks, and developing a comprehensive project plan
Effective planning allows project managers to identify potential issues and challenges early on and develop strategies to mitigate these risks. It also helps project managers allocate resources efficiently and effectively, ensuring that project timelines and budgets are met.
Typical project managers may spend less time in the planning knowledge area, which can lead to challenges down the road. However, the best project managers recognize the importance of planning and invest the necessary time and resources to ensure that their projects are well-defined, well-organized, and successful.
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the foundation upon which financial accounting is built is referred as the fasb
The foundation upon which financial accounting is built is referred to as the Generally Accepted Accounting Principles (GAAP). The Generally Accepted Accounting Principles (GAAP) form the foundation of financial accounting practices. GAAP is a set of standard accounting principles, concepts, and procedures that provide a framework for preparing financial statements and reporting financial information in a consistent and meaningful manner.
GAAP serves as a guideline for accountants and organizations to ensure transparency, accuracy, and comparability in financial reporting. It includes principles and guidelines for recording, measuring, and disclosing financial transactions and events. These standards are established by accounting regulatory bodies, such as the Financial Accounting Standards Board (FASB) in the United States.
The adoption and application of GAAP are essential for financial accounting to ensure the reliability and credibility of financial information. It enables stakeholders, including investors, creditors, and regulatory authorities, to make informed decisions based on accurate and consistent financial statements. Compliance with GAAP also facilitates comparability between different organizations and promotes the integrity of the financial reporting process.
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Which industry is the second-largest employer of teens
and young people?
What percentage of employed teens are employed by
the government?
I got it
is retail trade
and 7%
Answer:
I. Retail industry
ii. 7%
Explanation:
Retail industry is the second largest employers of teen and young people next to health sector which is the largest employer.
Retailing involves buying goods either from the producers or wholesaler and selling them to the final consumers. Some services are also offered in these retailing such as call center representative, those who work in innovation lab. etc
In the United States, about 7% of teens and young people are in the employment of government , while retail industry is the largest employer of teen and young people because it provides flexibility and also do not involve much academic qualifications.
Example of these retail jobs are those who work in call center, sales representatives and those who works in stores.
Answer:
Retail Trade
7%
Explanation:
Edge 2020
what is a compounding period?
Answer:
Compounding periods are the time intervals between when interest is added to the account.
Explanation:
Interest can be compounded annually, semi-annually, quarterly, monthly, daily, continuously, or on any other basis.
Marie owns a factory and her total cost was $20,000 for production of 500 units. her total revenue was $ 40,000 and her explicit cost was $15,000. what was her average total cost last year?
Marie's average total cost last year was $40 per unit.
To find the average total cost, we divide the total cost by the number of units produced. In this case, Marie produced 500 units.
The total cost of production was $20,000, and the explicit cost was $15,000. Explicit costs are the actual expenses incurred in production, such as wages, rent, and materials.
To calculate the average total cost, we use the formula: Average Total Cost = Total Cost / Number of Units Produced.
So, Average Total Cost = $20,000 / 500 units = $40 per unit.
Therefore, Marie's average total cost last year was $40 per unit.
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