A sum of $46875 was lent out at simple interest and at the end of 1 year 8 months, the total amount was $50000. Find the rate of interest per year
Answers
Answer:
4%
Explanation:
Simple interest is calculated using the formula
I = p x r x t
in this case, the interest I is the total amount-principal amount
I = $50,000- $46,875
=$3,125
$3,125 = 46,875 x r x 1 year 8 months
$3,125 =46,875 x r/100 x 1.67
3125=78,281.25 x r/100
$3125 x 100 = 78,281.25 x r
$312500= 78,281.25
r=312500/78,281.25
r=3.992
r=4%
Related Questions
A bank customer receives an e-mail from a sender claiming to be a bank employee. The e-mail asks the customer to provide personal information and to call a phone number if he or she has any questions. The customer suspects the e-mail might be a phishing attempt. Which of the following responses is most likely to be a privacy risk for the bank customer?a) Calling the bank at its official phone number to ask whether the request for personal information islegitimateb) Calling the phone number given in the e-mail and providing the personal information over the phonec) Checking that the domain name of the sender’s e-mail address is associated with the bankd) Conducting aWeb search to see if other people have received similar requests for personal information
Answers
The most likely response by the customer that will be a privacy risk is b) Calling the phone number given in the e-mail and providing the personal information over the phone.
How can you avoid Phishing?Phishing refers to attempts by criminals to steal your personal information and use it to drain you financially.
In order to avoid them, never give your personal bank details over the phone because your bank will never ask for that, and don't communicate with anyone who asks for these details.
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In terms of making a pizza, which of the following would be part of Material Requirements Planning (MRP)? Choose all that apply.
a. Cheese
b. Personal Protective Equipment (PPE)
c. Flour
d. Oven
e. Pizza boxes
Answers
The materials that would be part of Material Requirements Planning (MRP) for making a pizza are:
a. Cheese
c. Flour
e. Pizza boxes
Material Requirements Planning (MRP) is a system used for managing and planning the materials needed for production or manufacturing processes. It involves determining the required quantities of various materials to meet production demands. In the context of making a pizza, the following materials would be part of MRP:
a. Cheese: Cheese is an essential ingredient in pizza-making. It is a material that needs to be accounted for in terms of quantity and availability. MRP would consider factors such as the amount of cheese required for each pizza, inventory levels, and replenishment needs.
c. Flour: Flour is another key ingredient in pizza dough. It is necessary to plan the quantity of flour needed based on production requirements. MRP would consider factors such as dough recipes, dough yield, and the availability of flour in inventory.
e. Pizza boxes: Pizza boxes are necessary for packaging and delivering the finished pizzas. MRP would include the planning and procurement of pizza boxes based on the expected production volume and customer demand.
b. Personal Protective Equipment (PPE) and d. Oven are not typically considered part of MRP in the context of making a pizza. PPE, such as gloves or aprons, is related to safety measures for the personnel involved in pizza production, but it is not directly linked to material planning. The oven, while essential for baking the pizza, is considered a fixed asset and not part of the materials that require planning and management through MRP.
In conclusion, MRP for making a pizza would involve planning and managing the quantities of cheese, flour, and pizza boxes needed for production. These materials are directly related to the pizza-making process and are crucial for meeting production demands and customer requirements. Personal Protective Equipment (PPE) and the oven, although important in the pizza-making operation, are not part of the materials specifically managed through MRP.
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please type what belongs in the highlighted squares
ill give brainliest
Answers
To get the total revenue for the fourth quarter add the revenue for the month that apply
October revenue + $500 000
November revenue + $425 000
December revenue + \(\\)860 000
the sum total is = 1,011,000
therefore the fourth quarter revenue is $1,011,000
To calculate EBITDA subtract the expenses from the revenue
Revenue $6500 000
Expenses - $5375 000
EBITDA = 1, 125, 000
therefore the EBITDA is $1, 125, 000
To calculate Total Market Capitalization, multiply the number of share by the price per share we divide the
Number of shares \(\\)2500 000
price per share x \(\\) 23 77
= $5,942500, 000
therefore the Total Market Capitalization is $5,942500, 000
To calculate the earning per share divide the earning by the number of shares
Earning $5000 000 / Number of shares $2500 000 = 2
therefore the earning per share is 2
What is EBITDA?The abbreviation. EBITDA for stands for earnings before interest, taxes, depreciation, and amortization in business. EBITDA is very vital in understanding a business's ability to generate cash flow for its owners and use for judging a company's operating performance.
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Skip Ownby earns $80,000 per year. The deductions from his weekly
paycheck are:FIT of $247.48, SIT of $68.22, medical insurance of $98.00,
Social Security, and Medicare. What is Skip's net pay for a week? Write
answer as $#.###.##*
Answers
Answer:
$1,007.07
Explanation:
Skip's annual income is $80,000.00
Weekly earning will be $80,000 divide by 52
=$80,000/52
=$1,538.46
Weekly deductions
Social security = 6.2% x $1,538.46= $95.38
Medicare= 1.45% x 1,538.46 =$22.31
FIT =$247.48,
SIT =$68.22,
Medical insurance =$98.00
Total deductions =($95 .38 + $22.31 + $247.48+$68.22+98.00)
=$531.39
Net pay will be $1,538.46 - $531.39
= $1007.07
The column headed by a check mark in a checkbook register is provided so you can make a note of your checks that have bounced.
T or F
Answers
coffee to
growing more
16)
16]
2 TGH are a public limited company which makes sports shoes (trainers). It makes
a variety of designs for the mass market. The mass market is for young people
who want fashionable sports shoes as well as those who play sport. The Directors
segment of customers who have a medical problem with their feet and need
recently decided to target a niche market which is for a particular market
b) Identify two examples of the different markets for TGH products.
c) Identify and explain two reasons why TGH sell to a niche market.
d) Identify and explain two advantages to TGH of segmenting the market
e) Do you think the Directors of TGH were right to target a niche market
or should they have stayed with just a mass market? Justify your answer.
specially designed shoes,
a) What is meant by a 'niche market'?
for sports shoes.
Revision checklist
In this chapter you have learned:
the role of marketing-identifying and satisfying customer needs as well as
Answers
Answer:
Is this reading then answering questions or....
Explanation:
I dont get the question sry but I'll try to help
Steve believes that his wife's cell phone battery does not last as long as his cell phone battery, On seven different occasions, he measured the length of time his cell phone battery lasted and calculated that the mean was 16.4 hours with a standard deviation of 8.2 hours. He measured the length of time his wife's cell phone battery lasted on twelve different occasions and calculated a mean of 22.4 hours with a standard deviation of 7.6 hours. Assume that the population variances are the same. Let Population 1 be the battery life of Steve's cell phone and Population 2 be the battery life of his wife's cell phone Step 1 of 2: Construct a 95% confidence interval for the true difference in mean battery life between 5 teve's celf phone and his wife's. Round the endpoints of the interval to one decimal place, if necessary. Lower Endpoint = ____
Upper Endpoint = ____
Step 2 of 2: Interpret the confidence interval obtained in Step 1. a. Since the confidence interval does not contain zero, the data do not provide evidence that the population means are unequal at a 95 of confidence level. b. Since the confidence interval contains zero, the data do not provide evidence that the population means are unequal at a 95% confidence level. c. We are 95% confident that the mean battery ife of Steve's cell phone is between 1.8 hours and 13.8 hours shorter than the mean battery life of his wife's cell phone. d. We are 95% confldent that the mean battery life of Steve's cell phone is between 1.8 hours and 13.8 hours longer than the mean battery Nfe of his wite's cell phore.
Answers
By constructing a 95% confidence interval for the true difference in mean battery life between Steve's cell phone and his wife's, we can assess the evidence regarding the equality of the population means. The lower and upper endpoints of the interval need to be calculated to interpret the results correctly.
Step 1: To construct a 95% confidence interval, we can use the formula: Mean difference ± (Critical value * Standard error). The critical value for a 95% confidence level is typically obtained from a t-distribution table or statistical software. The standard error can be calculated as the square root of [(Standard deviation1^2/n1) + (Standard deviation2^2/n2)], where n1 and n2 are the sample sizes for Steve's cell phone and his wife's cell phone, respectively.
Step 2: By calculating the lower and upper endpoints of the confidence interval and rounding them to one decimal place, we can interpret the interval. It is crucial to understand that the confidence interval estimates the range within which the true difference in mean battery life between the two cell phones is likely to fall.
In this case, the correct interpretation would be:
c. We are 95% confident that the mean battery life of Steve's cell phone is between 1.8 hours and 13.8 hours shorter than the mean battery life of his wife's cell phone.
This interpretation is based on the calculated confidence interval, which provides a plausible range for the true difference in mean battery life. Since the interval does not contain zero, it indicates that there is evidence of a significant difference between the mean battery life of Steve's cell phone and his wife's at a 95% confidence level. The range of 1.8 to 13.8 hours suggests that Steve's cell phone battery tends to last significantly less than his wife's.
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1. list the names of all customers who have placed orders? 2. list the names of the customers who have placed an order that contains a product whose standard price is over 500.
Answers
You can retrieve the list of customers who have placed orders by querying your database's order table and selecting the distinct customer names.
You can retrieve the list of customers who have placed orders containing products with a standard price over 500 by joining the order and product tables on the product ID, filtering the results where the product price is over 500, and selecting the distinct customer names from the orders table.
This query selects the distinct customer names from the customers table by performing multiple INNER JOINs with the orders, order details, and products tables on their respective key fields.
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Marginal cost is equal to average total cost when a. average variable cost is falling. b. marginal cost is at its minimum. c. average total cost is at its minimum. d. average fixed cost is rising.
Answers
Answer: C
Explanation: average total cost is at its minimum
What is the main purpose of the operation bank?
Answers
Answer:
what even is a operation bank
Explanation:
hehe
When individual entrepreneurs elect to start their own business, they face a variety of decisions about location, product offerings, and financing, to name but a few elements. An extremely important decision, and one that will affect the future success or failure of the business, is that of their organizational structure and their operating structure. In this chapter, you will learn about the most common types of organizational and operating structures used in the hospitality industry. Nicholas Kostanty formed a limited partnership with his father-in-law, Ray Sweeney, to open an upscale French restaurant in a Midwestern town. Mr. Kostanty was the general partner and owned 75 percent of the business. Mr. Sweeney, with 25 percent ownership, was the limited partner and invested $100,000. After one year, difficulties in the restaurant’s operation caused business to drop off, and Mr. Kostanty called Mr. Sweeney for advice. After hearing of the difficulties, and being concerned with the security of his investment, Mr. Sweeney traveled from Arizona to Indiana to visit the operation. Upon observing the operation for two days, the two partners decided to launch a large and expensive television ad campaign to increase flagging sales. Mr. Sweeney designed the campaign with the help of Seelhoff Advertising and Video, a local advertising agency specializing in television commercials. Despite an immediate increase in sales, over time, volume continued to decline, and finally, three months after the ad campaign was launched, the restaurant closed its doors. Total debts at the time the restaurant closed equaled $400,000, with assets of the partnership totaling only $200,000. Included in the debt was $150,000 owed to the advertising agency. The agency sought payment directly from Mr. Sweeney. Mr. Sweeney, claiming that his liability was limited to the $100,000 he had previously invested in the business, refused to pay any additional money. The Seelhoff Advertising Agency sued the limited partnership, as well as Nicholas Kostanty and Ray Sweeney individually.
Discuss whether Mr. Sweeney is liable for the outstanding debts of the limited partnership.
Answers
A limited partner is one who is responsible only for his investment in a business and who does not share responsibility for the management of the business. He is responsible only for the debts and liabilities of the company to the extent of his contribution.
The individual can not be held liable for the debts of the business above their share capital if they have acted in the role of a limited partner and have not participated in the management of the business. In the given case, Mr. Sweeney is a limited partner and invested $100,000. He was not involved in the management of the restaurant and his liability is limited to the amount of investment he made, as he was not a general partner.
Therefore, Seelhoff Advertising and Video, who is seeking payment of $150,000 from Mr. Sweeney, will not be able to get any additional money from him as he has already paid more than his share of liabilities.
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A Bank with the following capital levels: common equity of 47,000, Tier 1 of 38,000, Tier 2 of 17,000. If total assets are 850,000 and risk adjusted assets are 650,000, the capital classification of the bank is
Answers
The capital classification of the bank would be "Adequately Capitalized" as its Tier 1 capital ratio.
To determine the capital classification of the bank, we need to compare its capital levels to the risk-adjusted assets. The capital classification is typically based on regulatory requirements and ratios set by the relevant financial authorities.
One common capital adequacy ratio used for classification is the Tier 1 capital ratio.
The Tier 1 capital ratio is calculated by dividing Tier 1 capital (including common equity) by risk-adjusted assets. Let's calculate the Tier 1 capital ratio:
Tier 1 capital ratio = (Tier 1 capital / Risk-adjusted assets) * 100
In this case:
Tier 1 capital = 38,000
Risk-adjusted assets = 650,000
Tier 1 capital ratio = (38,000 / 650,000) * 100
= 5.846%
Now, let's determine the capital classification based on the Tier 1 capital ratio:
Well-Capitalized: Tier 1 capital ratio ≥ 6%
Since the calculated Tier 1 capital ratio is 5.846%, it does not meet the well-capitalized threshold.
Adequately Capitalized: Tier 1 capital ratio ≥ 4%
The calculated Tier 1 capital ratio is above the adequately capitalized threshold, which is 4%.
Undercapitalized: Tier 1 capital ratio < 4%
Since the calculated Tier 1 capital ratio is above 4%, the bank is not classified as undercapitalized.
Therefore, based on the given information, the capital classification of the bank would be "Adequately Capitalized" as its Tier 1 capital ratio exceeds the minimum regulatory requirement of 4%.
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Review each of the investment opportunities provided by Earll Investments and Pima Financial Trading. In a three paragraph essay (a minimum of 4-5 sentences), write an analysis of these opportunities that answers the following questions.
Based on the evidence available to you, which investment opportunity is more likely to be fraudulent? What are the true risks of investment with this company, and does the company accurately describe these risks? What are the potential returns on an investment, and does the company accurately describe these returns?
Answers
Every investment has associated risks and hazards. There is always some element of risk involved with undertaking any venture, whether it be with regard to real estate, stocks, goods, joint assets, or anything else.
CDs, high-yield savings accounts, money market accounts, government bonds, and Treasury bills are typical examples of short-term investments. Although returns on short-term investments are frequently lower, they are relatively liquid and give investors the flexibility to quickly withdraw money if necessary.
Additionally, they do indicate the risk element while marking the agreement of speculation, which is frequently ignored by the financial specialist at the time of marking the agreement.
Company risk, market risk, liquidity risk, volatility risk, and opportunity cost are the main risks associated with investing.
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which of the following is also known as profit and loss statement?
net worth ledger
liability statement
income statements
transaction ledger
Answers
A financial statement that outline the revenues and costs during a period of time.
Another name for the profit and loss statement is the income statement.
The income statement is a financial statement that is used to record a firm's income and expenses in a given year. It contains information on the total profit or loss of a firm.
A balance sheet is a financial statement that contains information on a reports company's assets, liabilities and shareholders' equity at a point in time.
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question modemultiple choice questionwhich component of the marketing plan allows a company to understand information about its current business and then make strategic decisions about how to best move forward?multiple choice question.executive summaryfinancialsfeedbackmission statementsituation analysis
Answers
Product, pricing, promotion, and site are the four primary themes included in the marketing section of a company strategy.
The four Ps are a "marketing mix" that includes four crucial elements for selling a good or service: product, pricing, place, and promotion. When businesses create marketing plans and strategies to reach their target audience, they frequently consider the four Ps.
The marketing plan outlines the approach a company will take to advertise its items to customers. The strategy identifies the target market, the value proposition of the brand or product, the campaigns to be launched, and the metrics to be used to assess the performance of marketing initiatives.
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Scholarships are only awarded to students with limited financial resources.
A. True
B. False
Answers
In what three ways does the government affect production of goods and services in the US economy?
Answers
If the market for soccer balls is saturated and the market for soccer nets is open, which combination makes the most sense for Sabrina’s Soccer?
Answers
If the market for soccer balls is saturated and the market for soccer nets is open, a combination which makes the most sense for Sabrina’s Soccer is: F.
What is a production possibilities curve?A production possibilities curve (PPC) is also referred to as the production possibilities diagram or the production possibilities frontier (PPF) and it can be defined as a type of chart that is typically used for illustrating the maximum and best combinations of two products that can be produced by a producer (manufacturer) in an economy, if they both depend on these two (2) factors;
Technology is fixed.Resources are fixed.Based on the production possibilities curve (see attachment), we can reasonably infer and logically deduce that the maximum and best combinations that would offer the most sense for Sabrina’s Soccer is option F with 0 for soccer balls and 5 for soccer nets.
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How do credit card companies make money?
O (A) Fees and interest paid by cardholders
O (B) Investing your credit card debt
O (C) Fees paid by merchants
O All of them
O A and B
O A and C
OB and C
Answers
Answer:
A and C
Explanation:
Credit card companies get their income form the following three main sources
Interest paid by cardholdersFees charged to cardholders' credit cards.transaction charges paid by merchants who accept credit cardsInterests form the bulk of income to the card companies. Typically charge interest arises when customers carry a balance from a month to the next. Fees charged include annual fees, late fees, cash advance fees, balance transaction fees, among others. Merchants usually pay a percentage for every transaction conducted via a credit card. The percentage ranges between 1% to 3 %.
Land and buildings are classified as _____ property, while items such as machinery, equipment, and furnishings are classified as tangible, personal property.
Answers
Land and buildings are classified as real property, while items such as machinery, equipment, and furnishings are classified as tangible personal property.
Real property refers to physical assets that are permanently attached to the land, such as buildings, land, and fixtures. Real property can also include natural resources such as minerals, crops, and water rights. Real property is typically bought and sold through real estate transactions and is subject to a range of laws and regulations governing land use and development. Tangible personal property, on the other hand, refers to movable assets that are not attached to the land, such as machinery, equipment, and furnishings. These items can be bought and sold through a range of transactions, such as auctions, private sales, and online marketplaces. Tangible personal property is typically subject to a different set of laws and regulations than real property, and its value can fluctuate based on a range of factors, such as market demand and depreciation.
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Find two cases of life insurance fraud. Write a paragraph for each one explaining the details given. (how was the fraud committed, what was the purpose, how the person was caught, what happened as a result, etc.) Next, find one case of health insurance fraud and look up the same information.
Answers
Answer:
Health identity theft is when criminals steal victims names.
Explanation:
health insurance numbers and other personal data and then defraud insurers by making false claims. To combat the problem, some medical ...
Trisha is working on putting together pictures of all of the best wedding cakes that
she has decorated and designed throughout her culinary career. She is hoping this compilation will help her get a job at the catering company that she has been wanting to work at for years. What is Trisha putting together to show her potential employer?
A. portfolio
B. resume
C. work visa
D. letter of intent
Answers
Answer:
A. Portfolio Is the Anwser to the Question
The managers of Tanika Enterprises are considering how well alternative plans may meet its high-priority goals, as well as identifying the cost of each initiative and its likely investment return. Tanika Enterprises is in the __________ stage of the planning process. Multiple Choice evaluating goals and plans analyzing the situation implementing goals and plans selecting goals and plans monitoring and controlling performance
Answers
Based on the planning process, the stage where Tanika Enterprises is currently at is: A. evaluating goals and plans.
Planning can be defined as a strategic process which involves the development of organizational goals and objectives, as well as translating them into action plans or courses of action.
Hence, planning is a strategic technique which is used by business enterprises to achieve the following:
Make an aggregate plan for its high-priority goals.Identifying the cost of each initiative.Predict investment return.In Business management, there are five (5) essential stages in the planning process and these include:
1. Establishing your goals and objectives.
2. Determining your style of investment.
3. Evaluating your goals and plans.
4. Choosing the cost-effective and appropriate investment plan.
5. Executing and examining the investment plan periodically.
In this scenario, Tanika Enterprises is in the evaluating goals and plans stage of the planning process.
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Under this economic model a country strives to create a favorable balance of trade, in which the value of its exports is greater than the value of its imports.
Answers
Under this economic model, a country strives to create a favorable balance of trade, in mercantilism the value of its exports is greater than the value of its imports.
Trade refers back to the voluntary alternative of goods or services among unique financial actors. for the reason that parties are under no duty to trade, a transaction will handiest arise if both parties take into account it is useful to their pastimes.
Trade is described as the overall marketplace of purchasing and selling items, the manner you make a living or the act of exchanging or shopping for and promoting something. An example of change is the tea trade where tea is imported from China and acquired in the US. An instance of alternate is while you work in income.
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a market research firm calls a simple random sample of customers to determine whether they are satisfied with their current internet service provider. out of 500 people surveyed, 389 say they are satisfied. if we are going to create a confidence interval for the percent of customers in the population who are satisfied, we will need a box model. The number of tickets in the box labeled 1 is a quantity that is:___________
Answers
In order to create a confidence interval for the percent of customers in the population who are satisfied, based on a market research firm calling a simple random sample of customers, we will need a box model. The number of tickets in the box labeled 1, which represents the satisfied customers, is a quantity that is 389.
The mean of your estimate minus the variation in that estimate is called a confidence interval. This is the scope of values you anticipate that your gauge should fall between on the off chance that you re-try your test, inside a specific degree of certainty. In statistics, confidence is another way to talk about probability.
This is because 389 out of 500 people surveyed said they are satisfied with their current internet service provider.
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Pursuant to a complete liquidation, Carrot Corporation distributes to its shareholders real estate held as an investment (basis of $1,325,200, fair market value of $1,722,760).
a. Determine the gain or loss recognized by Carrot on the distribution if no liability is involved. If no liability is involved, Carrot has a (gain/ loss) of $????? on the distribution.
b. Determine the gain or loss recognized by Carrot on the distribution if the real estate is subject to a liability of $1,457,720. If the real estate is subject to a liability of $1,457,720, Carrot has a (gain/ loss) of $????? .
c. Determine the gain or loss recognized by Carrot on the distribution if the real estate is subject to a liability of $1,855,280. If the liability were $1,855,280, Carrot’s(gain/ loss) on the distribution would be $ ?????.
Answers
Carrot Corporation recognizes a gain of $397,560 without liability, a gain of $129,840 with a liability of $1,457,720, and a loss of $267,720 with a liability of $1,855,280.
a. To determine the gain or loss without liability, subtract the basis from the fair market value: $1,722,760 - $1,325,200 = $397,560 (gain).
b. If the real estate is subject to a liability of $1,457,720, subtract the basis from the net fair market value ($1,722,760 - $1,457,720): $265,040 - $1,325,200 = $129,840 (gain).
c. If the liability is $1,855,280, subtract the basis from the net fair market value ($1,722,760 - $1,855,280): -$132,520 - $1,325,200 = -$267,720 (loss).
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The price of circuit boards used in the manufacturing of LCD televisions has fallen. This will lead to ................ LCD televisions.
Select one:
a. None of the answers
b. an increase in the quantity supplied of
c. an increase in the supply of
d. a decrease in the supply of
e. a decrease in the quantity supplied of
Answers
The price of circuit boards used in the manufacturing of LCD televisions has fallen, which will lead to an increase in the supply of LCD televisions. The correct option is C.
The reason for this is that when the price of a key input, such as circuit boards, decreases, it reduces the production cost for manufacturers of LCD televisions. With lower production costs, manufacturers can produce more units at the same price level or maintain their current production levels at a lower price.
This increase in production or decrease in price ultimately leads to an increase in the supply of LCD televisions in the market. This change in supply is not related to the quantity supplied, which depends on the current market price of LCD televisions.
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Complete question:
The price of circuit boards used in the manufacturing of LCD televisions has fallen. This will lead to ................ LCD televisions.
Select one:
a. None of the answers
b. an increase in the quantity supplied of
c. an increase in the supply of
d. a decrease in the supply of
e. a decrease in the quantity supplied of
Richie and Saul are conducting a urvey on the mot popular board game played by tudent at their high chool. Richie interview 25 boy from grade 9 through 12 and conclude that card game are the mot popular among high chool tudent. Saul peak with 20 tudent, including girl and boy, from grade 9 through 12 and conclude that word game are the mot popular among high chool tudent. Whoe generalization i valid? Why?
The generalization made by
i valid becaue he included
Answers
Given that Saul spoke with both boys and females, his generalization is accurate.
What is meant by generalizing in psychology?A generalization is a kind of abstraction where the general traits of specific cases are articulated as overarching concepts or claims. Generalizations presuppose a domain or collection of elements, as well as one or more shared characteristics.
Why is being general useful?Generalization is the capacity to do an action, engage in an activity, or display a behavior in a variety of situations, with a variety of people, and at a variety of times. Our ability to complete routine tasks in a variety of contexts and settings is due to the fact that we have "generalized" the necessary skills.
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Finley Co. Is looking for a new office location and sees a building with a fair value of $400,000. Finley also notices that much of the equipment in the existing building would be useful to its own operations. Finley estimates the fair value of the equipment to $80,000. Finley offers to buy both the building and the equipment for $450,000, and the offer is accepted. Determine the amounts Finley should record in the separate accounts for building and equipment
Answers
The amounts Finley should record in the separate accounts for building and equipment will be $ 375,000 and $ 75,000 respectively.
Elaborating :Building $375,000
Equipment $75,000
Total $450,000
Building: $450,000 / $480,000 × $400,000 = $375,000
Equipment: $450,000 / $480,000 × $80,000 = $75,000
Separate accounts:An insurance company holds a separate accounting and reporting account that is not part of its general account but rather "separate." An investor can select an investment category based on his or her individual risk tolerance and desire for performance with a separate account.
What is the difference between a separate and a general account?The primary distinction between the two types of accounts can be summarized as follows: a general account is subject to the insurance company's creditors, whereas a separate account is not.
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A new bill from a group of house conservatives would abolish the current tax system and charge americans which single tax?
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A new bill from a group of House conservatives could propose the implementation of a single tax, such as a flat tax or a national sales tax, to replace the current tax system.
A flat tax is a system where all taxpayers pay the same tax rate, regardless of their income level. This type of system is often marketed as a simpler, more straightforward alternative to the current tax system, as it eliminates many of the deductions, credits, and exemptions that are a part of the current tax code.
A national sales tax, also known as a value-added tax (VAT), would replace income and payroll taxes with a tax on the sale of goods and services. This type of tax would be applied at each stage of production, from the raw materials to the final sale to the consumer.
While the idea of a single tax system may seem appealing for its simplicity, it's important to consider the potential consequences of such a system. For example, a flat tax could result in a significant reduction in tax revenue, as the government would collect less money from higher-income taxpayers.
To learn more about the tax system
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