The cost of goods sold for LC1 is $-5000 and LC2 is $15000.
a. The prime costs for LC1
The prime costs for LC1 consist of raw materials and direct labor, so:
Prime Costs for LC1 = Raw Materials + Direct Labor
Prime Costs for LC1 = $30,000 + $130,000
Prime Costs for LC1 = $160,000
b. The cost of goods sold for LC1
The cost of goods sold for LC1 is the difference between the beginning balance in finished goods and the ending balance in finished goods, so:
Cost of Goods Sold for LC1 = Beginning Balance in Finished Goods - Ending Balance in Finished Goods
Cost of Goods Sold for LC1 = $45,000 - $50,000
Cost of Goods Sold for LC1 = $-5,000
c. The conversion costs for LC2
The conversion costs for LC2 consist of direct labor and manufacturing overhead, so:
Conversion Costs for LC2 = Direct Labor + Manufacturing Overhead
Conversion Costs for LC2 = $120,000 + $125,000
Conversion Costs for LC2 = $245,000
d. The cost of materials purchased for LC2
The cost of materials purchased for LC2 is the difference between the beginning balance in raw materials inventory and the ending balance in raw materials inventory, so:
Cost of Materials Purchased for LC2 = Beginning Balance in Raw Materials Inventory - Ending Balance in Raw Materials Inventory
Cost of Materials Purchased for LC2 = $45,000 - $30,000
Cost of Materials Purchased for LC2 = $15,000
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The American Labor movement was considered radical compared to what was happening in Europe. true or false
Answer:
true took the test brainliest please
What is the primary purpose of a bank reconciliation?.
Bank reconciliations is important internal control tool for preventing and detecting fraud.
What is bank reconciliation?Bank reconciliation seems to be a process that explains why there are differences between a company's bank statement and its Cash Book. The process is used not only to identify differences, but also to make changes to relevant accounting records in order to keep the records up to date.The three methods of a bank reconciliation are as follows: Statement comparison. Balancing the books. The reconciliation is being recorded.Account Reconciliation Types Account reconciliations come in a variety of forms and can be used for either personal or professional purposes. Account reconciliation is classified into five types: bank reconciliation, vendor reconciliation, business-specific reconciliation, intercompany reconciliation, and customer reconciliation.To learn more about bank reconciliation refer to:
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g 1. how much would the company's profits increase (decrease) if it implemented the advertising campaign in the medical market? 2. how much would the company's profits increase (decrease) if it implemented the advertising campaign in the dental market? 3. in which of the markets would you recommend that the company focus its advertising campaign?
The company's profits would increase in both the medical and dental markets if it implemented the advertising campaign. However, the increase in profits would vary based on several factors.
1. In the medical market, the company's profits would increase by a certain amount depending on the effectiveness of the advertising campaign in reaching the target audience and generating new sales. The increase in profits could also be impacted by the level of competition in the market and the pricing strategy of the company. Additionally, there could be potential risks associated with advertising in the medical market, such as regulatory hurdles or negative feedback from customers.
In the dental market, the company's profits could potentially increase more than in the medical market due to the higher demand for dental products and services. However, the success of the advertising campaign would still depend on factors such as competition, pricing strategy, and customer feedback.
3. Based on the potential for profit increases and potential risks, it is recommended that the company focus its advertising campaign on the dental market. This market has a higher potential for profit growth and lower regulatory hurdles compared to the medical market. However, the company should still carefully consider all factors and conduct market research before implementing the campaign.
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me
Alan is young, but he decides to plan for his retirement early. He decides to formulate some estimates of his lifetime income. Which answer best describes Alan’s lifetime income?
Alan’s lifetime income is his employee benefits, like health insurance.
Alan’s lifetime income includes his salary and retirement benefits.
Alan’s lifetime income includes both his career outlook and his career environment.
Alan’s lifetime income is both his college classes and his vocational training.
Answer:
Alan is young, but he decides to plan for his retirement early. He decides to formulate some estimates of his lifetime income. Which answer best describes Alan's lifetime income? Alan's lifetime income is his employee benefits, like health insurance.
Answer:
Alan’s lifetime income includes his salary and retirement benefits.
Explanation:
Under the LIFO retail method, we determine that:__________.
a) a new layer of inventory has been added during the period if the ending inventory at retail is greater than the beginning inventory at cost.
b) the ending inventory at retail is greater than the beginning inventory at retail.
c) the ending inventory at retail is less than the beginning inventory at retail.
Answer: the ending inventory at retail is greater than the beginning inventory at retail
Explanation:
In the Last-In-First-Out(LIFO) method, it is assumed that the units that are sold are the ones that were recently bought.
Under the LIFO retail method, to determine a new layer at retail, the beginning inventory at the retail will have to be deducted from the ending inventory at retail.
This means that a new layer of inventory will be added when the ending inventory at retail is greater than the beginning inventory at retail.
how might democratic reforms and improved trade agreements contribute to a stronger economy in mexico
Democratic reforms and improved trade agreements can contribute to a stronger economy in Mexico in several ways:
Political Stability: Democratic reforms promote political stability and create a favorable environment for economic growth. They establish transparent and accountable institutions, reduce corruption, and ensure the rule of law. Political stability attracts domestic and foreign investments, as it provides a secure and predictable business environment.
Investor Confidence: Democratic reforms and transparent governance practices enhance investor confidence. When investors have trust in the political system and institutions, they are more likely to invest in Mexico's economy. This leads to increased capital inflows, job creation, and economic expansion.
Market Access: Improved trade agreements provide Mexico with greater market access to international markets. By reducing trade barriers, such as tariffs and quotas, Mexican businesses can export their products more easily and compete on a global scale. Access to larger markets increases export opportunities, generates foreign exchange earnings, and stimulates economic growth.
Diversification of Trade: Trade agreements encourage diversification of Mexico's export markets and industries. By expanding trade relationships with multiple countries, Mexico reduces its dependency on a single market and mitigates risks associated with economic fluctuations in specific regions. Diversification allows for a more resilient and stable economy.
Technology and Knowledge Transfer: Trade agreements often include provisions for technology and knowledge transfer. This enables Mexican companies to learn from and adopt best practices from more advanced economies. Access to new technologies, management techniques, and research and development opportunities enhances productivity, innovation, and competitiveness.
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write the structural formula and name of the organic product!
The structural formula of an organic compound represents the arrangement of atoms and bonds in the molecule. The name of an organic product is determined by the functional groups present in the compound and the IUPAC nomenclature rules.
In organic chemistry, the structural formula represents the arrangement of atoms in a molecule and the bonds between them. It provides a visual representation of the connectivity and arrangement of atoms in a compound. The structural formula is written using symbols for the elements and lines to represent the bonds between them.
For example, let's consider the organic compound ethane (C2H6). The structural formula of ethane is written as:
H - C - C - H
The lines between the carbon atoms represent the covalent bonds, and the symbols for hydrogen and carbon are used to indicate the atoms present in the compound.
The name of an organic product is determined by the functional groups present in the compound and the IUPAC nomenclature rules. The IUPAC system is used to systematically name organic compounds based on their structure and functional groups.
Without any specific organic compound mentioned in the question, it is not possible to provide a specific structural formula and name. However, if you have a specific organic compound in mind, please provide the details, and I will be happy to help you with the structural formula and name.
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suppose that several small colleges in indiana, have over time, learned to charge very similar tuition rates to their students. this is an example of .
Suppose that several small colleges in Indiana, have over time, learned to charge very similar tuition rates to their students. this is an example of convergence
Tuition is the fee charged by colleges and universities for educational services provided to students. It is an essential part of the cost of attending college and covers expenses such as faculty salaries, building maintenance, and academic resources.
The practice of charging similar tuition rates by multiple colleges in a particular area is known as tuition convergence. It occurs when colleges in a specific geographic region or market have similar cost structures, and there is limited differentiation in the educational services they provide.
In Indiana, several small colleges may have learned to charge similar tuition rates because they face similar economic conditions and competition from each other.
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Which of the following made the building of the first skyscrapers possible
A.Elevator
B.Light timber frame forms
C.Internal combustion engine
D. Rapid steel production
Answer:
choose all three
elevator
internal combustion engine
rapid steel production
Explanation:
Elevator, Internal combustion engine and Rapid steel production made the building of the first skyscrapers possible. Hence, option A, C and D are correct.
What is Elevator?An elevator, often called a lift, is a vehicle that goes in a vertical shaft to carry passengers or goods between floors of a multistory building. With the aid of a counterweight, the majority of modern elevators are propelled by electric motors through a system of cables and sheaves.
The four fundamental types of elevators are hydraulic, traction, machine-room-free, and vacuum. The fundamental distinction between these two words can be seen in the accents in which they are used; for instance, "lift" is used with a British accent whereas "elevator" is used in an American one.
Elevators or lifts carry people and cargo up and down, while escalators act as moving staircases from one story of a structure to another. Moving walkways transport people horizontally or at a slight slope.
Thus, option A, C and D are correct.
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1. The theory of behavioural or communication-style bias is based upon a number of underlying principles; list three of these principles. (Minimum 25 words)
Answer:
2. Which communication style is "more favourable" for a successful career in selling? (Minimum 40 words)
Answer:
3. What are some of the clues that reveal someone's predominant communication style? (Minimum 5 examples)
Answer:
4. How does understanding the customer's communication style improve the salesperson's relationship-management skill? (Minimum 45 words)
Answer:
5. Is adaptive selling the same as communication style-flexing? (Minimum 45 words)
Answer:
6. Characterize the emotive style. (Minimum 45 words)
Answer:
7. Characterize the directive style. (Minimum 45 words)
Answer:
8. How can you identify Directive behaviour in customers?(Minimum 90 words)
Answer:
9. Characterize the reflective style. (Minimum 55 words)
Answer:
1. The theory of behavioural or communication-style bias is based on three underlying principles as follows: Individual differences, Communication style is a fundamental aspect of our personality and Communication styles are developed during childhood and young adulthood.
1. The theory of behavioural or communication-style bias is based on three underlying principles as follows:
i) Individual differences: This principle recognizes that each individual possesses a unique communication style.
ii) Communication style is a fundamental aspect of our personality: This principle suggests that communication styles are permanent and stable traits.
iii) Communication styles are developed during childhood and young adulthood: This principle indicates that communication styles are developed in the early years of life and remain relatively stable throughout life.
2. The flexible communication style is the most favourable for a successful career in selling. As it helps salespeople to recognize the client's communication style and adapt their selling style to fit the needs of the client.
3. Some of the clues that reveal someone's predominant communication style include; Eye contact, Speed and tone of voice, Body language, choice of words and listening styles.
4. Understanding the customer's communication style improves the salesperson's relationship-management skill by enabling the salesperson to communicate more effectively with the customer, which increases the customer's satisfaction. It also helps the salesperson to build a good relationship with the customer and strengthen the loyalty of the customer.
5. No, adaptive selling is not the same as communication style-flexing. Communication style-flexing involves the ability to alter the delivery of a message to fit the preferred communication style of the recipient. Adaptive selling involves altering the sales style to match the communication style of the customer.
6. The emotive style is characterized by the use of emotions, feelings, and intuition to make decisions. People with an emotive style tend to use personal anecdotes, metaphors, and analogies to explain things.
7. The directive style is characterized by a focus on facts, logic, and efficiency. People with this style are straightforward and value results and action.
8. To identify Directive behavior in customers, you can look for signs of impatience and urgency. They may ask direct questions, prefer brevity, and be comfortable with silence.
9. The reflective style is characterized by a focus on facts and data. People with this style tend to be analytical and process-oriented. They are often careful and deliberate in making decisions.
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which of the following is a major concern regarding legal and ethical behavior with respect to marketing communications?
Concerns about legal and moral conduct regarding marketing communications center on the information's accuracy.Option B is correct.
The messages and media that marketers use to communicate with their target markets are referred to as marketing communications (also spelled marcom). Traditional advertising, direct marketing, social marketing, presentations, and sponsorship are all examples of marketing communications.
A number of important goals fall under the purview of marketing communications: promoting brand recognition It is the responsibility of marketing communications to ensure that people are aware of the organization or business's existence and offerings. retaining the loyalty of customers.
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Complete question as follows:
Which of the following is a major concern regarding the legal and ethical behavior with respect to marketing communications?
A) the tastefulness of the ad
B) the accuracy of the information provided
C) the media used to deliver the ad
D) the creativity of the ad
E) the effectiveness of the ad
6. You are either only a natural saver or a natural spender. You cannot have a balance of
both.
True
False
How can buisness decision affect the local community??
Answer:
Small businesses will also participate and volunteer their time at fairs and festivals, working to connect with members of the community while sharing their services to a large audience.Local businesses pay local taxes, bolstering the city revenue available for improvements to roads, schools, and area green spaces. When shoppers spend their money locally, the taxes they pay benefit their community and better their own lives. Shopping online, for example, may not keep tax revenue local.
Economists know it is best to track inflation because a. It distorts prices b. It distorts statistics about overall economic performance c. it makes prices rise d. it worries people
Answer:
c. it makes prices rise
Explanation:
Inflation describes a situation where there is a general increase in prices in the country. Inflation is directly linked to economic growth. A high growth rate results in high inflation.
Inflation causes prices to rise, reducing the purchasing power of money. A reduction in purchasing power means a unit of money will buy fewer items than it did previously. The government puts in measures to counter inflation to stabilize prices and prevent erosion of purchasing power.
Low inflation indicates slow economic growth, low employment, and a reduction in prices.
A company introduces a new product at low pricing to help capture a large market share early this is called
A company introduces a new product at low pricing to help capture a large market share early this is called price skimming.
When a new type of product enters the market, price skimming is often used then. The goal here is to gather as much revenue as possible while the consumer demand is high and competition has not entered the market.
So once these goals are met, the original product creator will mostly lower prices in order to attract more cost-conscious buyers while remaining competitive toward any lower-cost similar items entering the market.
Hence, firms often use price skimming in order to recover the cost of development.
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Which of the following external forces is a part of a firm’s task environment? Multiple Choice the composition of the strategic group to which the firm belongs the interest rates prevalent in the economy in which the firm operates the inflation level in the economy in which the firm operates the recent innovations in process technology, including lean manufacturing
The external force that is a part of a firm's environment is the the composition of the strategic group to which the firm belongs.
What is a firm?A firm can be referred to as a business organization that was put in place or developed solely for the sake of making profits.
The firm has to have a good strategic group as a part of its environment. It is one of the factors that would help it to succeed.
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Jim Smith's dealership sells Fords, Hondas, and Toyotas. The dealership keeps information about each car manufacturer with whom employees deal so that they can get in touch with manufacturers easily. Information kept about manufacturer include Name, Contact name, and Phone. The dealership also keeps basic information about the models of cars that it carries from each manufacturer. The dealership keeps such information as list price, the price the dealership paid to obtain the model, and the model name, dealer cost, and series (e.g., Honda Civic LX). The dealer also keeps information about he sold vehicle such as VIN #, Model, Series, Buyer name, and Purchase price. It also keeps information about the buyer's name, address, and phone number. Several operations can be added to the system such as Add new manufacturer contact, Add new series, Find all models within certain price range, Add sold vehicle, Find all sold vehicles for certain models, and List buyers of models
The dealership keeps information about car manufacturers, including their names, contact names, and phone numbers. It also maintains basic information about the car models it has in stock, such as list prices, model names, dealer costs, prices paid by the dealership, and series.
Jim Smith's dealership specializes in selling Fords, Hondas, and Toyotas. To facilitate communication with the manufacturers, the dealership keeps information about each car manufacturer, including their names, contact names, and phone numbers. This allows employees to easily get in touch with the manufacturers when needed.
In addition to the manufacturer information, the dealership also maintains essential details about the car models it carries from each manufacturer. This information includes the list prices of the models, the dealer costs associated with obtaining the models, the prices paid by the dealership to acquire the models, the model names, and the series of the cars (such as Honda Civic LX). By keeping track of this information, the dealership can effectively manage its inventory and provide accurate details to customers.
Furthermore, the dealership keeps records of the vehicles it has sold. These records contain vital information such as the VIN numbers of the sold vehicles, the models and series of the cars, the names of the buyers, and the purchase prices. This allows the dealership to maintain a comprehensive sales history and track the performance of different models.
To improve the efficiency of the system, several operations can be added. The dealership can add new manufacturer contacts, enabling them to update and expand their network of manufacturers easily. Adding new series is also essential as it helps the dealership keep track of the different series of cars available, providing accurate information to customers.
Moreover, the system can enable the dealership to find all models within a certain price range. This feature is particularly valuable for customers who have a specific budget and are looking for cars within that price range. It allows the dealership to quickly identify suitable options for customers and streamline the buying process.
Additionally, the dealership can add sold vehicles to the system, ensuring that all relevant information about the sale is recorded. This includes details about the buyer, such as their name, address, and phone number, as well as information about the specific vehicle sold.
Furthermore, the system can facilitate finding all the sold vehicles for certain models. This feature is helpful when customers are interested in purchasing used cars of a particular model. It allows the dealership to provide accurate information about the availability of such vehicles and assist customers in their buying decisions.
Lastly, the system can include a feature to list buyers of models. This functionality helps the dealership maintain contact with its customers and engage in personalized communication, fostering customer relationships and providing opportunities for future business.
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what is business and what is occupation
Answer:
Business:
A person's regular occupation, profession, or trade.
Occupation:
A job or profession.
Explanation:
I looked them up in a dictionary.
Please mark me brainliest! I need it! Please!
What is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan?.
Capacity is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan.
What is loan?A loan is an amount of money given to an individual in advance of when the individual will have the money.
Some loans are given with collateral while others may not collateral. Most loan comes with interest which is certain amount of money that is determined by the borrower.
The capacity of the individual who wants to borrow money should be known to a certain repayment plan.
Therefore, Capacity is the primary measure that creditors use determine whether to give you credit, decide the terms you are offered, and the interest rate you will pay for a loan
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Capacity is the main factor that creditors consider when deciding whether to provide you credit, what conditions they will offer you, and how much interest you will pay on a loan.
Describe a loan.?A loan is a sum of money that is provided to a person before they really get it. While some loans may not need collateral, others may.
The majority of loans include interest, which is a predetermined sum of money set by the borrower.
The ability of the person seeking a loan should be known to a certain repayment strategy.
As a result, your capacity is the main factor that creditors consider when deciding whether to provide you credit, what conditions they will offer you, and what interest rate you will pay for a loan.
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if an increase of oil prices leads to the overall price of goods to rise, what type of inflation is a likely cause?
Answer:
cost-push inflation
Explanation:
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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If the economy is at a point on the short-run Phillips Curve such as point c3, firms and workers will ____, allowing the economy to move toward the long-run Phillips Curve
The firms and workers will adjust their inflation expectations upward at at a point on the short-run Phillips Curve and thus. allowing the economy to move toward the long-run Phillips Curve.
What is the short-run Phillips Curve?As the Phillips curve is a graphic representation that depict the relationship between the rate of unemployment and rate of change of money wages, the short-run graph will show that in the short-term, there is a tradeoff between inflation and unemployment.
However, when the economy is a point on the short-run Phillips Curve, decision may be made by firms and workers to adjust their inflation expectations upward and this will allow the economy to move toward the long-run Phillips Curve.
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what famous type of cryptocurrency was recently valued at more than $64,000 per unit, though its value has fluctuated wildly in the past?
The famous cryptocurrency that was recently valued at the staggering amount of $64,000 is Bitcoin.
Bitcoin:
Is the most popular cryptocurrency there is Has had its value fluctuate wildly in the past Was recently valued at $64,000.Bitcoin was the first cryptocurrency and has seen its value change wildly in the past due solely to the forces of supply and demand. It is however going strong at the moment.
In conclusion, the crypto described is Bitcoin.
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Teams have better communication than other workers because they get to
a. Know each other better
b. Attend commurication seminars
C. Earn extra benetits packages
d. Use better telephones
Interest is defined as
Answer:
in·ter·est
/ˈint(ə)rəst/
Learn to pronounce
See definitions in:
All
Commerce
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noun
1.
the state of wanting to know or learn about something or someone.
"she looked about her with interest"
Similar:
attentiveness
undivided attention
absorption
engrossment
heed
regard
notice
scrutiny
curiosity
inquisitiveness
enjoyment
delight
Opposite:
boredom
2.
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
"the monthly rate of interest"
Similar:
dividends
profits
returns
a percentage
Explanation:
Answer:
the feeling of wanting to know or learn about something or someone
1.
In 2016, a market had sales of £350.000. In 2017, the market grew by 5%.
Calculate the new market size in sales value.
Answer:
The new market size in sales value is 367,500
Explanation:
Answer:
£367,500
Explanation:
the market was £350,000 in 2016.
in 2017, the market grew by 5%.
the new market size will 5% more than 2016.
if 2016 was 100%, 2017 will be 105%
2017 = 105% x £350,000
=105/100 x £350,000
=1.05 x £350,000
=£367,500
Duval company issues four-year bonds with a $100,000 par value on january 1, 2021, at a price of $95,952. The annual contract rate is 7%, and interest is paid semiannually on june 30 and december 31.
The bond coupon rate for the bond is $7,000 per year.
A bond coupon rate is the interest rate that a bond issuer promises to pay to bondholders on a regular basis, typically semi-annually. The coupon rate is expressed as a percentage of the bond's face value or par value
The coupon rate for the bonds would be calculated by taking the annual contract rate of 7% and multiplying it by the par value of the bonds, which is $100,000.
coupon rate = annual contract rate × par value of the bond
coupon rate = 0.07 × 100,000
coupon rate = $7,000
So, the coupon rate would be $7,000 per year. Since interest is paid semiannually, the semi-annual coupon rate would be half of the annual coupon rate, or $3,500 per semi-annual payment.
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Your question seems to be missing, but I assume the question was:
"Duval company issues four-year bonds with a $100,000 par value on January 1, 2021, at a price of $95,952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31. What is the coupon rate payment for the bond?"
Meagan invested $1,200 each year in an ira for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years.
PMT = 1200, t = 12, r = 5%, n = 1 = annual compounding
FV = Future value of the ordinary annuity
FV = A = PMT*((1+r/n)^nt - 1) / (r/n)
FV = A = 1200*((1+0.05/1)^(1*12) - 1) / (0.05/1)
FV = A = 1200*((1+0.05)^12 - 1) / 0.05
FV = A = 1200*15.9171265
FV = A = 19100.55
Answer : a : 19100.55
Value after next 11 years
P = 19100.55, t = 11, r = 5%, n = 1 = annual compounding
A = P*(1+r/n)^nt
A = 19100.55*(1+0.05/1)^(1*11)
A = 19100.55*(1+0.05)^11
A = 19100.55*1.71033936
A = 32668.42
Answer : b : 32668.42
Interest earned = Value at the end of 23 years - Initial investment
Interest earned = 32668.42 - (1200 x 12) = 18268.42
Answer : c : 18268.42
investment is the dedication of cash to buy of an asset to obtain an boom in cost over a period of time. investment calls for a sacrifice of some present asset, which includes time, cash, or effort. In finance, the motive of investing is to generate a go back from the invested asset. The go back can also consist of a advantage (profit) or a loss found out from the sale of a belongings or an investment, unrealized capital appreciation (or depreciation), or funding earnings together with dividends, hobby, or condominium earnings, or a mixture of capital gain and earnings. The go back may encompass forex profits or losses due to adjustments within the foreign forex rates.
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Which of the following items are included in The Code of Professional Ethics of the American Institute of Certified Public Accountants: weigh all sides of decisions.
a. weigh all sides of decisions.
b. attending annual meetings.
c. generate innovative approaches to accounting.
d. integrity and objectivity.
Integrity and objectivity are the items are included in The Code of Professional Ethics of the American Institute of Certified Public Accountants.
What is meant by professional code of ethics?This is the term that is used to refer to the code that is used to apply to all of the people that would work in a particular organization that are meant to guide the behavior of the people in the organization and also check the ways that people would act.
Hence we can say that Integrity and objectivity are the items are included in The Code of Professional Ethics of the American Institute of Certified Public Accountants..
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Your mutual fund was valued at $237,500. It has lost 6% per year for the last 3 years. What is its value today?
Answer:
$197,263.7
Explanation:
The current value can be found by use of the compound interest formula. Since the asset has been losing value at 6 % per year,
the interest rate will be -6%
The formula for compound interest is FV = PV × (1+r)^n
in this case
FV= current value
PV= $237,500
r= -6% or -0.06%
n= 3 years
Fv= $237, 500 x ( 1 + (-0.06)^3
Fv=$237,500 x (0.94)^3
Fv= $237,500 x 0.830584
Fv= $197,263.7
The current value =$197,263.7