An accounting information system like Oracle Netsuite offers numerous advantages to users when it comes to processing data. Information data, transactions, and data are some of the benefits that come with using the software. More than 100 words:Accounting information system such as Oracle Netsuite is critical in modern-day accounting. The system is designed to help users process data efficiently and provides several advantages. One of the primary benefits of the software is that it provides accurate and up-to-date information data to users.
An accounting information system like Oracle Netsuite offers numerous advantages to users when it comes to processing data. Information data, transactions, and data are some of the benefits that come with using the software. More than 100 words:Accounting information system such as Oracle Netsuite is critical in modern-day accounting. The system is designed to help users process data efficiently and provides several advantages. One of the primary benefits of the software is that it provides accurate and up-to-date information data to users.The software works by integrating various accounting processes such as accounts payable, accounts receivable, inventory management, and financial reporting. By automating these processes, Oracle Netsuite can quickly process large amounts of data, making it easier for users to manage their financial transactions.Oracle Netsuite provides an efficient data management system that helps users to make informed decisions. The software can generate various reports such as profit and loss statements, balance sheets, and cash flow statements, providing users with a comprehensive overview of their financial position.The software's data management system can also help users track inventory levels, orders, and customer orders, making it easier to manage the supply chain. Furthermore, Oracle Netsuite can also integrate with other business applications, such as customer relationship management systems, providing users with an even more comprehensive view of their business operations.Overall, Oracle Netsuite offers several benefits to users when it comes to processing data. Information data, transactions, and data are some of the benefits that come with using the software. By automating various accounting processes, Oracle Netsuite can efficiently process large amounts of data, making it easier for users to manage their financial transactions. The software's data management system provides users with accurate and up-to-date information data, making it easier for them to make informed decisions.
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the process used to develop a standard recipe for an item in current production basically the same as the procedure to develop a standard recipe for a new menu item.
A standard recipe is a tried-and-true method that regularly satisfies a restaurant's requirements in terms of yield and quality.
This basically offers the most effective recipe manual, a useful resource for teaching kitchen personnel, and a foundation for buying ingredients. The three steps of the recipe standardization process are amount modification, product evaluation, and recipe verification.
Verifying a recipe is carefully reading it, following it, assessing the yield, and noting any modifications and it also ensures the best possible outcomes from the particular recipe.
An exact, quantifiable amount of each component and the technique of preparation required to reliably generate a high-quality result are specified in a standardized recipe.
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Explain how someone can be employed and still live below the poverty line.
for some strictly increasing cdf. explain why a monotone transformation of x exists such that the logistic regression model holds
A monotone transformation of x exists such that the logistic regression model holds for some strictly increasing cdf because of a theorem known as the Invariance Property of the Maximum Likelihood Estimators.
Logistic regression is a type of regression analysis that is used to model a binary dependent variable as a function of one or more independent variables. Logistic regression models the relationship between a dependent binary variable and one or more independent variables using the logistic function, which is also known as the sigmoid function.
A monotone transformation of x exists such that the logistic regression model holds for some strictly increasing cdf because of the Invariance Property of Maximum Likelihood Estimators. This theorem states that, regardless of the probability distribution of the data, the Maximum Likelihood Estimate (MLE) of the model parameters will remain unchanged under a monotonic transformation of the data. That is, if f(x) is a strictly increasing function, then the Maximum Likelihood Estimate of the parameters in the model will be the same whether we use the original data or the transformed data.
The logistic regression model is sensitive to monotone transformations because it is a model for the conditional probability of a binary outcome given one or more predictors. A monotone transformation of the predictor variable(s) does not affect the binary outcome, but it does affect the conditional probability of the outcome given the predictor(s). This is why the logistic regression model holds for a monotone transformation of the predictor variable(s) when the underlying probability distribution is strictly increasing.
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9) How do we lose most of our mass when we exercise?
a) As heat
b) sweating
c) Exhaling CO2
d) Difestion
Answer:
To lose weight, you need to break down those triglycerides to access their carbon.
The results showed that in order to completely breakdown 22 pounds (10 kg) of human fat, we need to inhale 64 pounds (29 kg) of oxygen (and somewhere along the way, burn 94,000 calories). This reaction produces 62 pounds (28 kg) of CO2 and 24 pounds (11 kg) of water.
Explanation:
ExpIain what is meant by the term dominant allele
Answer:
A dominant allele is a variant of a gene overriding another variant on the same gene, usually expressed with a capital letter, like AA or Aa
Explanation:
Timothy bought a bond with a face value of $1,000. The bond term is 1 year. He bought the bond at a 5 percent discount from the face value. The bond pays 5 percent annual interest, and Timothy will receive two semiannual payments. When the bond is redeemed at maturity, the total return (profit) will be $ .00. The total return on investment will be %. (Round return on investment percentage to one decimal place.)
Answer:
100, 10.5
Explanation:
1000 x .95= 950
1000x1.05=1050
1050-950= 100
100/950= 10.5
1. When the bond is redeemed at maturity, the total return (profit) for Timothy will be $100.00.
2. The total return on investment will be 10.5%.
What is the return on bonds?The return on bonds is the profit gained from the purchase of the bonds.
The profit includes all the capital gains (discount received) and interest revenues received until maturity.
Data ad Calculations:Face value = $1,000
Purchase price = $950 ($1,000 x 1 - 5%)
Discount = $50 ($1,000 - $950)
Maturity period = 1 year
Coupon rate = 5%
Interest payment = semi-annual
Annual interest = $50 ($1,000 x 5%)
Total profit at maturity = $100 ($50 + $50)
Total return on investment = 10.5% ($100/$950 x 100)
Thus, when the bond is redeemed at maturity, the total return (profit) for Timothy will be $100.00 at 10.5%.
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Which two of the following are long-term sources, of finance?
A- Interest rates
B- Venture capital
C- Trade credit
D- Share capital
E- Start up costs
Answer:
the answer is B and D
3. You plan to retire 25 years later. What equal amount of money would you need to deposit in the same account at the end of every year for the next 25 years in order to accumulate $2 Million at the instant the 25th deposit is made? Assume the bank pays interest at the rate of 5% per year. 4. What equal sums of money should you invest in a bank at the end of every year for the next 10 years in order to accumulate $50,000 at the end of 10 years, that is, just when the 10 th deposit is made? Assume the bank pays interest at the rate of 12% per year compounded weekly.
To accumulate $50,000 at the end of 10 years, you would need to invest approximately $3,140.44 at the end of each year.
To calculate the equal amount of money needed to deposit in the bank for both scenarios, we can use the formula for the future value of an ordinary annuity:
Future Value = Payment × \(\left(1 + \text{{interest rate}}\right)^{\text{{number of periods}}} - 1\) ÷ interest rate
Let's calculate the amounts needed for each scenario:
Retirement Savings:
Future Value = $2,000,000
Interest Rate = 5% per year
Number of Periods = 25 years
Using the formula, we can calculate the equal amount needed to deposit each year:
$2,000,000 = Payment ×\([(1 + 0.05)^2^5 - 1]\) ÷ 0.05
Solving for Payment, we find:
Payment = $2,000,000 × 0.05 ÷ \([(1.05)^2^5 - 1]\)
Payment ≈ $40,678.91 (rounded to the nearest cent)
Therefore, to accumulate $2 million at the end of 25 years, you would need to deposit approximately $40,678.91 at the end of each year.
Investment for Accumulating $50,000:
Future Value = $50,000
Interest Rate = 12% per year (compounded weekly)
Number of Periods = 10 years
Using the formula, we can calculate the equal amount needed to invest each year:
$50,000 = Payment × \([(1 + 0.12/52)^(^5^2^*^1^0^) - 1]\) ÷ (0.12/52)
Solving for Payment, we find:
Payment = $50,000 × (0.12÷52) ÷ \([(1 + 0.12/52)^(^5^2^*^1^0^) - 1]\)
Payment ≈ $3,140.44 (rounded to the nearest cent)
Therefore, to accumulate $50,000 at the end of 10 years, you would need to invest approximately $3,140.44 at the end of each year.
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________ reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product.
Derived Demand reflects the link between consumers’ demand for a company’s product and the company’s purchase of necessary inputs to manufacture or assemble that particular product.
The call for every one of the elements of manufacturing is often referred to as a "derived" demand to emphasize the truth that the relationship between the element's price and the quantity of the element demanded by groups the use of it in manufacturing is directly dependent on the patron name for the very last product(s) the issue.
As a result, the call for exertions is derived name from the call for goods and offerings. For example, if the demand for a first-rate alongside wheat increases, then this results in a growth in the call for hard work, in addition to calls for different factors of production together with fertilizer.
Direct and derived demand. Direct call for is the call for for a completely last precise. food, garb, and cell phones are an instance of this. Also called a self-sustaining call, it's miles impartial of the call for one-of-a-kind merchandise. Derived call for is the call for a product that comes from the usage of others.
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Contribution margin is:
A) Revenues divided by fixed costs
B) Revenues minus variable cost
C) Revenues plus variable cost
D) Net Sales
E) None of these
The correct answer for the definition of contribution margin is B) Revenues minus variable costs.
Contribution margin is the amount of revenue that remains after deducting the variable costs associated with the production or sale of a product. It is a useful tool for determining the profitability of individual products or services, as it helps to assess the amount of revenue that contributes towards covering the fixed costs of a business.
By calculating the contribution margin, a business can determine the level of sales volume required to break even or generate a profit. This information is important for making strategic decisions regarding pricing, cost management, and product mix.
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can someone help pick 1, 2,or 3 ?
Answer:
2no I think you are confused so
The three vs of big data are volume, velocity, and veracity. true or false
The statement "The three Vs of big data are volume, velocity, and veracity" is true. The three Vs refer to key characteristics of big data that help define its nature.
Volume refers to the vast amount of data that is generated and collected from various sources. With the increasing use of digital technologies, data is being produced at an exponential rate. Velocity refers to the at which data is generated and needs to be processed in real-time. This is important because big data often requires quick analysis to extract meaningful insights and make informed decisions.
Veracity refers to the quality and reliability of data. Since big data can come from multiple sources, there may be inconsistencies, inaccuracies, or biases that need to be addressed to ensure data integrity.In summary, the three Vs of big data - volume, velocity, and veracity - highlight the significant characteristics of this field. It emphasizes the immense amount of data, the need for speedy processing, and the importance of data quality and reliability.
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Which of the following is not one of the reasons cited for the growth in incarcerated populations?
a. Federal prison growth
b. Increased probability of incarceration
c. Inmates serving more time for each crime
d. Private prisons
The correct answer is: d) Private prisons. In the United States of America, incarceration is a pressing issue as its incarcerated population is one of the largest in the world.
There are several reasons cited for the growth in incarcerated populations such as federal prison growth, increased probability of incarceration, and inmates serving more time for each crime. Private prisons, on the other hand, are not one of the reasons for the growth in incarcerated populations. Incidentally, private prisons are part of the reason for the growth of the American prison system.
Private prisons are a business enterprise where individuals who are found guilty of a crime are kept. These prisons are not funded by the government but by a corporation or company. Inmates are incarcerated to serve their sentences in private prisons.
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Question 1
If you read an article about a product you like, you shou
OA. Question the source of information.
B. Take the information at face value.
C. Look for ads by competitors and compare.
D. None of the above.
Answer:
Explanation:
I think it's A.
You should always question the source. You might be lucky and discover what they've not said about their product. Or you may discover it is simply not true.
A few years back (many in fact), there was a product on the market call Laetrile. It was produced from peach pits. It has an overwhelming popularity that Sloan Kettering (the Cancer Clinic in New York -- the oldest and largest one in the world), spent some of their needed grant money to test Laetrile. The results -- nothing. Imagine what happened to those who marketed this product. Word got around. People with Cancer are pretty desperate. They and their loved ones will try anything.
But the facts on the internet help to dispel this kind of thing.
g in a year in which corportate bonds offered an average retirn of 11%, treasury bonds offered average return of 11% treasury bonds offered an average return of 5% common stocks offered an average reurn of 20% and treasury bills offered 1%. the market risk premium is
G in a year in which corporate bonds offered an average return of 11%, treasury bonds offered an average return of 11% treasury bonds offered an average return of 5% common stocks offered an average return of 20%, and treasury bills offered 1%. The market risk premium is 11%.
Given, Corporate bonds offered an average return of 11%, Treasury bonds offered an average return of 5%, common stocks offered an average return of 20% and Treasury bills offered 1%.
To calculate the market risk premium, we use the following formula:
Market Risk Premium = Expected Market Return - Risk-Free RateExpected Market Return
= (11% + 5% + 20%) / 3 = 12%
Using the average of the returns of corporate bonds, Treasury bonds, and common stocks.)
Risk-Free Rate = 1% (Given)
Substituting the values of Expected Market Return and Risk-Free Rate in the above formula, we get:
Market Risk Premium = 12% - 1% = 11%
Hence, the market risk premium is 11%.
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what learning options can i take part in during high school?
How do I increase my home equity line of credit?
Request a modification to your current home equity loan from the lender or apply for a new home equity line of credit (HELOC).
Describe HELOC.A HELOC, also known as a home equity line of credit, is a sort of home equity loan that enables you to borrow money as needed and repay it at a variable interest rate. HELOCs are therefore typically the ideal option for those who require money for ongoing home improvement projects or who require additional time to pay off existing debt.
Until a specific period of time has gone since your most recent HELOC application, lenders typically won't allow you to raise your credit limit.
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In high tech firms, the group most likely to be responsible for the success of a product development process is:
A) scientists and engineers.
B) marketing.
C) consumers.
D) accounting/finance.
In high-tech firms, the group most likely to be responsible for the success of a product development process is scientists and engineers. So, correct option is a.
High-tech firms heavily rely on technological innovation and the development of new products to maintain a competitive edge in the market. Scientists and engineers play a crucial role in these firms as they possess the technical expertise and knowledge required to create and refine innovative products.
Scientists and engineers are responsible for conducting research, designing prototypes, and developing the technological aspects of the product. They are involved in tasks such as product design, testing, and optimization, ensuring that the product meets technical specifications, quality standards, and customer requirements.
While marketing, consumers, and accounting/finance are essential components of a successful product development process, the primary responsibility for technical innovation and product development lies with scientists and engineers.
Their expertise and ability to translate ideas into tangible products are critical in driving innovation, creating market differentiation, and ultimately ensuring the success of high-tech firms in the competitive landscape.
So, correct option is a.
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You want to have $50,000 in your savings account 6 years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.7 percent interest, what amount must yor deposit each year? Multiple Choice $10,364.62 $7,042.84 $3,350.02 Multiple Choice $10,364.62 $7,042,84 $3,350.02 $8,333.33 $3,349.97
The correct answer is $8,333.33
Explanation: To determine the annual deposit that you need to make in order to have $50,000 in your savings account 6 years from now, you can use the future value of an ordinary annuity formula:
FV = PMT x ((1 + i)n - 1) / i
Where:
FV = future value of the annuity
PMT = the annual deposit that you need to make
i = the interest rate per period
n = the number of periods
In this case, you want to have $50,000 in your savings account in 6 years, and the account pays 6.7% interest. Therefore, you have:
i = 6.7% = 0.067
n = 6 periods
PMT = ?
FV = $50,000
Substituting these values into the formula and solving for PMT, we get:
PMT = FV x i / ((1 + i)n - 1)
= $50,000 x 0.067 / ((1 + 0.067)6 - 1)
≈ $8,333.33
Therefore, the annual deposit that you need to make to have $50,000 in your savings account in 6 years is $8,333.33, rounded to the nearest cent.
Hence, the correct answer is $8,333.33.
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part 1 – identify a problem problem solving starts by being able to identify existing problems, gaps in service, inefficient systems/processes, flawed policies, or any other areas of our job/career where improvement is needed. identify a problem or gap at your workplace and explain why/how this problem exists. part 2 – solve the problem use your knowledge that you’ve learned in the program (or hope to learn in a future course) to implement a plan to solve the problem.
Part 1 – Identifying the Problem:
In order to effectively solve a problem, it is crucial to first identify the existing issue or gap. At my workplace, one problem that I have observed is the lack of a streamlined communication system between different departments. This problem exists due to a few reasons. Firstly, there is a lack of clarity regarding roles and responsibilities, leading to confusion and miscommunication. Additionally, the absence of a centralized platform for sharing information and updates further hinders effective communication. This problem negatively impacts the efficiency and productivity of the organization.
Part 2 – Solving the Problem:
To address this problem, a plan can be implemented by utilizing the knowledge gained from the program or future courses. Firstly, conducting a thorough analysis of the current communication practices and identifying the gaps will help in formulating an effective solution.
Next, implementing a centralized communication platform, such as an intranet or project management software, can enhance collaboration and streamline information flow. Additionally, clearly defining roles and responsibilities, along with establishing communication protocols, will help in reducing confusion and improving overall communication.
Furthermore, conducting regular training sessions or workshops on effective communication techniques can enhance the skills of employees. This will ensure that everyone understands the importance of clear and concise communication within the organization.
In conclusion, identifying the problem of inadequate communication and implementing a plan to solve it can significantly improve efficiency and productivity in the workplace. By utilizing the knowledge gained from the program or future courses, organizations can address such issues and create a more effective and collaborative work environment.
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A ________ rater error is one in which a rater gives middle or average ratings to all employees despite their performance.
When a rater assigns middle or average ratings to all employees regardless of their performance, this is referred to as a central tendency bias rater error.
Central tendency bias occurs when a rater consistently rates all employees as average or in the middle of the rating scale, regardless of their actual performance. This bias can arise for several reasons, including a lack of familiarity with the rating scale or uncertainty about how to differentiate between different levels of performance.
It can also be influenced by factors such as a desire to avoid conflict, a belief that all employees are fundamentally similar, or a tendency to rate employees based on their likability rather than their performance. Central tendency bias can have significant consequences in performance evaluations, as it can obscure important differences in performance between employees and make it difficult to identify top performers or those in need of improvement.
To mitigate this bias, organizations can provide training to raters on how to use the rating scale effectively, provide clear guidelines for differentiating between performance levels, and encourage raters to provide specific feedback to employees. Additionally, using multiple raters or a 360-degree feedback process can help to reduce the impact of central tendency bias.
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a corporation sold a building for $130,000 cash and purchased new machinery for $68,000 cash. how would this be reported in a statement of cash flows
The net cash used in investing activities would be added to the net cash provided by operating activities and the net cash provided by financing activities to determine the net change in cash for the period.
The sale of the building would be reported as a cash inflow from investing activities in the statement of cash flows. The purchase of the machinery would be reported as a cash outflow from investing activities.
The following is how the transaction would be reported in the statement of cash flows:
Cash flows from investing activities:
Sale of building $130,000
Purchase of machinery $68,000
Net cash used in investing activities $62,000
The net cash used in investing activities would be added to the net cash provided by operating activities and the net cash provided by financing activities to determine the net change in cash for the period.
Here is a breakdown of how the individual transactions would be reported in the statement of cash flows:
Sale of building:
Cash inflow from investing activities: $130,000
This would be the proceeds from the sale of the building, net of any selling expenses.
Purchase of machinery:
Cash outflow from investing activities: $68,000
This would be the cost of the machinery, net of any discounts or rebates.
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plano company is purchasing a production facility at a cost of $21 million. the firm expects the project to generate annual cash flows of $7 million over the next five years. its cost of capital is 18 percent. should the firm accept this project?
After calculating the NPV, if the result is positive, the firm should accept the project.
Based on the information provided, Plano Company is considering purchasing a production facility for $21 million, with expected annual cash flows of $7 million for five years, and a cost of capital of 18 percent.
To determine if the firm should accept this project, we need to calculate its Net Present Value (NPV).
NPV is the difference between the present value of cash inflows and the present value of cash outflows. If the NPV is positive, the project should be accepted, as it indicates that it will generate value for the firm.
Using the given information, we can calculate the NPV as follows:
NPV = (Cash Flow / (1 + Cost of Capital)^t) - Initial Investment
where t is the time period (years).
NPV = ($7M / (1 + 0.18)^1) + ($7M / (1 + 0.18)^2) + ($7M / (1 + 0.18)^3) + ($7M / (1 + 0.18)^4) + ($7M / (1 + 0.18)^5) - $21M
When calculating the NPV, if the result is positive, the firm should accept the project. If it is negative or close to zero, the firm should not proceed, as the project may not generate enough value to justify the investment.
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What is a government policy with a goal of encouraging saving and investing?
A. Banning compound interest
B. Requiring direct deposit
C. Limiting stock market access
D. Maintaining stable inflation
The federal government works to achieve three policy objectives in order to maintain a robust economy: stable pricing, full employment, and economic growth. Hence option D is correct .
Why government encouraging saving and investing?Reducing the budget deficit is another way the government can make greater savings. Cutting back on government purchases is one strategy for doing this. Alternately, increasing taxes will enhance national saving since it will make people consume less and reduce deficits or increase surpluses.
Investment incentives fall into three broad categories, and they can be put into place at the local, regional, national, and international levels. fiscal incentives like tax vacations and decreased tax rates; other incentives like subsidized infrastructure; and financial incentives like various grants and loans.
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Select all that apply Cost of goods sold is characterized by which of the following statements? (Check all that apply.) Multiple select question. Cost of goods sold is an asset reported on the balance sheet. Cost of goods sold is used to figure gross profit. Cost of goods sold is an expense reported on the income statement. Cost of goods sold includes the expenses of buying and preparing an item for sale. Cost of goods sold is also called cost of sales. Cost of goods sold is the money received from selling merchandise.
The correct answer is the Cost of goods sold includes the expenses of buying and preparing an item for sale, it is used to figure gross profit, it is an expense reported on the income statement and it is also called cost of sales.
Cost of goods sold is an accounting term and its is used to describe the amount of direct costs of producing the goods sold by a company.
Purchases for the period, Beginning inventory and Ending inventory for the period are the notably particulars used to derive this cost in accounting.Let understand also that there is significant difference between Cost of goods sold and Cost of goods available for sales.In conclusion, this accounting term is listed on the income statement, usually below the sales revenue and before the gross profit.
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Outstanding stock of the Whispering Winds Corp. included 39000 shares of $5 par common stock and 13000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Whispering declared and paid dividends of $3900. In 2020, Whispering declared and paid dividends of $11700. How much of the 2020 dividend was distributed to preferred shareholders
Answer:
$6,500
Explanation:
39,000 shares of $5 par common stock
13,000 shares of $10 par 5% non-cumulative preferred stock = $6,500 in preferred stocks dividends per year. Since the preferred stocks are non-cumulative, if they are not paid during one period, that dividend cannot be recovered in future periods.
In 2020, $11,700 were paid in dividends:
$6,500 were paid to preferred stocks$5,200 were paid to common stocksAssuming no employees are subject to ceilings for their earnings, Harris Company has the following information for the pay period of January 15–31. Use this information to answer the questions that follow. Gross payroll $10,000 Federal income tax withheld $1,800 Social security rate 6% Federal unemployment tax rate 0.8% Medicare rate 1.5% State unemployment tax rate 5.4% Salaries Payable would be recorded in the amount of
Answer:
$7,450
Explanation:
The computation of Salaries Payable is shown below:-
Gross Payroll $10,000
Less:
Federal income tax withheld $1,800
Social security rate at 6% -$600
Medicare rate at 1.5% -$150
Total deduction -$2,550
Salary Payable $7,450
We simply deduct three above taxes from the gross payroll so that we get to know for the salary payable amount
If the economy is experiencing high rates of inflation due to a new housing bubble, what effects would an expansionary monetary policy have on the economy?.
An expansionary monetary policy would reduce inflation and increase unemployment in the economy.
What is a monetary policy?The goal of monetary policy is to ensure price stability and public confidence in the strength and stability of the country's currency. It is the strategy used by the monetary authority of a country to control either the interest rate payable for very short-term borrowing (banks borrowing from one another to meet their short-term needs) or the money supply. The stability of the gross domestic product, achieving and maintaining low unemployment, and maintaining stable exchange rates with foreign currencies are typically additional goals of monetary policy. The formulation of the best monetary policy can be aided by knowledge of monetary economics. In developed nations, monetary and fiscal policies are typically developed independently.
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how old do you have to be to work at lululemon
Answer:
The minium age requirement to work there is 18
Based on your communications, you have established a list of decision criteria: marginal costs, adoption of synthetic components, estimated shipping costs, top note integrity, and base note integrity. How would you order the importance of the items on the list?
The number in parentheses indicates the relative weights for each factor.
A higher number indicates that an item is more important; a lower number indicates a factor is less important.
Answer: higher number indicates that an item is more important; a lower number indicates a factor is less important.
Explanation:
In order to order the importance of the items on the list, a higher number indicates that an item is more important while a lower number indicates a factor is less important.
In this case, one has to list the decisions criteria based on their importance. This is regarded as scale of preference in Economics.