To test the aged trial balance, The technique described in your question is known as a "prove-footing" test.
It involves adding up the individual balances in each column of the aged trial balance and comparing them to the total balance for the account.
By doing this, the auditor can ensure that there are no errors or omissions in the account balance, as any discrepancies would be easily identifiable.
Additionally, this technique can be used to test for the accuracy of the client's accounting records and to verify that all transactions have been properly recorded.
Overall, the prove-footing test is an essential tool for auditors in assessing the completeness and accuracy of the client's financial statements.
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Thinking about your office or college, what types of
information are conveyed through the grapevine? How
often is the information accurate?
Answer: I would experience a lot of cluster chains speaking on if someone was in trouble. An employee would be called to the back office if they were either in trouble or getting a promotion.
Explanation:
Refer to Scenario 19.2. BASF has decided to offer discounts to its businesses customers in the form of the following: For each order of $100,000 or more during the next 90 days, the buyer will receive a rebate of 5 percent. This type of pricing would be an example of ____ discounts. Group of answer choices
Answer:
cumulative discounts
Explanation:
Options:
A) allowance B )cash C) seasonal D) noncumulative E) cumulativeA cumulative discount refers to a company offering a discount in the sales price of an item or items if the total purchase is higher than a certain threshold. It is similar to offering discounts for buying in bulk (which refers to quantity), only that this type of discount is offered to customers that purchase over a certain amount of money.
Which industry is the second-largest employer of teens
and young people?
What percentage of employed teens are employed by
the government?
I got it
is retail trade
and 7%
Answer:
I. Retail industry
ii. 7%
Explanation:
Retail industry is the second largest employers of teen and young people next to health sector which is the largest employer.
Retailing involves buying goods either from the producers or wholesaler and selling them to the final consumers. Some services are also offered in these retailing such as call center representative, those who work in innovation lab. etc
In the United States, about 7% of teens and young people are in the employment of government , while retail industry is the largest employer of teen and young people because it provides flexibility and also do not involve much academic qualifications.
Example of these retail jobs are those who work in call center, sales representatives and those who works in stores.
Answer:
Retail Trade
7%
Explanation:
Edge 2020
Terophone charge is debit or credit
Answer:
credit
Explanation:
Self and social awareness is an important skill to practice when communicating with others because you will __________.
Self and social awareness is an important skill to practice when communicating with others because you will be more aware of your own personal biases
This is further explained below.
What is social awareness?Generally, The capacity to grasp the viewpoints of other people, groups, or communities and to incorporate that comprehension into one's relationships with other people is what we mean when we talk about social awareness.
This is a rather straightforward idea.
The term "personal bias" refers to previously unacknowledged views, opinions, or attitudes that have been gained through time and often serve to perpetuate stereotypes.
Personal biases are automatic, accidental, and hardwired into people, and they cause them to make inaccurate judgments.
In conclusion, While you practice self-awareness and social awareness, you will become more conscious of your own personal biases, which makes self-awareness and social awareness a crucial ability to have when speaking with others.
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in which phase of the new product design process should considerations about tradeoffs among product cost, quality, and schedule be made?
In the Product design phase of the new product design process considerations about tradeoffs among product cost, quality, and schedule be made.
The process of developing and iterating goods that answer certain needs in a market or solve problems for customers is referred to as product design. Understanding the end-user customer, or the person for whom the product is being built, is essential for successful product design.
The system, process, and interface design are the three primary categories of product design. They are all equally significant when it comes to the final design even if they each aim to address distinct user experience issues.
The full product lifecycle is woven together by good product design principles. From user research prior to ideation to concept development to prototyping and usability testing, product design is crucial in developing the first user experience and product offering.
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PowerSwitch, Inc. designs and manufactures switches used in telecommunications. Serious flooding throughout North Carolina affected Power Switch’s facilities. Inventory was completely ruined, and the company’s computer system, including all accounting records, was destroyed. Before the disaster recovery specialists clean the buildings, Stephen Plum, the company controller, is anxious to salvage whatever records he can to support an insurance claim for the destroyed inventory. He is standing in what is left of the accounting department with Paul Lopez, the cost accountant. "I didn’t know mud could smell so bad," Paul says. "What should I be looking for?" "Don’t worry about beginning inventory numbers," responds Stephen, "we’ll get them from last year’s annual report. We need first-quarter cost data." "I was working on the first-quarter results just before the storm hit," Paul says. "Look, my report is still in my desk drawer. All I can make out is that for the first quarter, material purchases were $476,000 and direct labor, manufacturing overhead, and total manufacturing costs to account for were $505,000, $245,000, and $1,425,000, respectively. Wait! Cost of goods available for sale was $1,340,000." "Great," says Stephen. "I remember that sales for the period were approximately $1,700,000. Given our gross profit of 30%, that’s all you should need." Paul is not sure about that but decides to see what he can do with this information. The beginning inventory numbers were: Raw Materials, $113,000 Work-in-Process, $229,000 Finished Goods, $154,000
Required:
Use the above information to draft a memo to an insurance company requesting payment for lost inventory. Include the appropriate schedules to support your request.
Memo To: ABC Insurance Company From: Stephen Plum, Controller, PowerSwitch, Inc.Subject: Request for Payment for Lost InventoryDate: 15th July 2021.
We have suffered a serious flood throughout our company facilities due to which our inventory was completely ruined and the computer system including all accounting records was destroyed. Before disaster recovery specialists clean the buildings, we want to salvage the records that support our insurance claim for the destroyed inventory. The beginning inventory numbers are: Raw Materials $113,000, Work-in-Process $229,000, Finished Goods $154,000.SCHEDULE 1: Raw Materials InventorySCHEDULE 2: Work-in-Process InventorySCHEDULE 3: Finished Goods Inventory. Calculation of Cost of Goods Sold
SCHEDULE 4: Schedule of Cost of Goods Manufactured and Sold
Formula: Cost of Goods Manufactured = Direct Materials + Direct Labor + Manufacturing OverheadApplied + Beginning Work-in-Process Inventory – Ending Work-in-Process Inventory Cost of Goods Sold = Cost of Goods Manufactured + Beginning Finished Goods Inventory – Ending Finished Goods InventoryCalculation of Cost of Goods Available for Sale:
SCHEDULE 5: Schedule of Cost of Goods Available for Sale; Formula: Cost of Goods Available for Sale = Beginning Finished Goods Inventory + Cost of Goods Manufactured. Therefore, the Cost of Goods Available for Sale = $154,000 + $1,395,000Cost of Goods Available for Sale = is $1,549,000.Calculation of Ending Inventory: SCHEDULE 6: Schedule of Ending Inventory Formula: Ending Raw Materials Inventory = Beginning Raw Materials Inventory + Purchases – Direct Materials Used; Ending Raw Materials Inventory = $113,000 + $476,000 – Direct Materials Used Ending Work-in-Process Inventory = Beginning Work-in-Process Inventory + Cost of Goods Manufactured – Cost of Goods Sold
Ending Work-in-Process Inventory = $229,000 + $1,425,000 – Cost of Goods SoldEnding Finished Goods Inventory = Beginning Finished Goods Inventory + Cost of Goods Manufactured – Cost of Goods SoldEnding Finished Goods Inventory = $154,000 + $1,395,000 – Cost of Goods Sold
Ending Inventory = Ending Raw Materials Inventory + Ending Work-in-Process Inventory + Ending Finished Goods Inventory. Therefore,Ending Inventory = $83,000 + $1,625,000 + $891,000Ending Inventory = $2,599,000Gross Profit = $510,000 \(($1,700,000 * 0.030)\)
Therefore,Cost of Goods Sold = $1,039,000 ($1,549,000 – $510,000)
Conclusion:Based on the above calculations and schedules, we are requesting payment of $2,599,000 as compensation for the inventory lost due to the disaster that occurred in our company facilities.
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The monthly expenses acquired when running a business are called...?
1)operating expenses
2)ending Inventory
3)beginning Inventory
4)start-up costs
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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Given the 2020 recession, what should be the goal of monetary policy? Should the Fed enact expansionary or contractionary policy? In other words, should the Fed increase the money supply/credit supply or decrease the money/credit supply. Explain what they might do to achieve their goal.
Answer:
Expansionary monetary policies
Explanation:
A recession is characterized by reduced economic activities, a high unemployment rate, and low business incomes. The economy experiences a reduced demand for products and services, leading to low production and a slow economic growth rate.
In a recession like in 2020, the Fed should employ measures that will stimulate economic growth. The appropriate measures are the expansionary monetary policies. These policies seek to increase liquidity in the market, thereby increasing the aggregate demand. Expansionary monetary policies increase the money supply in the economy; they include a reduction in the reserve requirement, reduction in the discount rate, and open market purchases.
True/False: the stages a consumer passes through in adopting a new product or service are represented by the model.
The given statement "the stages a consumer passes through in adopting a new product or service are represented by the model" is true because the model is known as the diffusion of innovation model.
The Diffusion of Innovation Model is a tool for comprehending how new products or services are accepted and adopted by customers. It's a five-stage model that describes the different phases that customers go through as they adopt a new product or service.
The five stages are as follows:
1. Awareness: The first stage is characterized by a lack of information. The consumer is not aware of the product and has never encountered it.
2. Interest: This is the stage when the consumer becomes interested in the new product. They want to know more about it and seek more information.
3. Evaluation: The consumer starts to assess the new product during this stage. They compare it to other products on the market, evaluate its benefits and drawbacks, and consider how it meets their needs.
4. Trial: During this stage, the consumer tries out the product or service. They may do so by using a free trial or a demo version of the product.
5. Adoption: The final stage is the adoption of the product or service. The consumer is happy with the product and has decided to use it regularly. They might also recommend it to others.
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The automatic storage water heater was invented by ____, an employee of George Westinghouse, founder of the Westinghouse Corp.
The person who worked for George Westinghouse and invested the automatic storage water heater was Edwin Rudd.
Who was Edwin Rudd?Edwin Rudd was an employee of George Westinghouse when he worked at the Fuel Gas and Manufacturing company.
It was here that he invented the automatic storage water heater in 1889 and then spent as much as 8 years to improve on it.
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Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as:.
Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as User-generated content.
User-generated contentUGC for short is content that is created, published or submitted by users of a brand. In numerous cases, it's the most influential content for brands. Usually, contributors are unpaid fans who encourage a brand instead of the brand promoting itself.
Online users are evolved increasingly savvy in knowing which companies are using messy marketing tactics, and which ones are being genuine and evident.
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Which of the following is one of the primary responsibilities of the federal judicial branch?
Answer:
to judge if laws made by the legislative branch are constitutional
Explanation:
Answer:
to judge the constitutionality of laws
Explanation:
Select the correct answer.
Which management function is also a financial responsibility?
A. lanning
B. organizing
C. staffing
D. coordinating
E. controlling
Answer:
The answer is...
planning
During planning, you use financial responsibility. Financial responsibility refers to the process of managing money and other similar assets in a way that is considered productive and is also in the best interest of the individual, or the family, or the business company.
Mark me brainliest if this helps.
The planning is the management function, which is also a financial responsibility.
What is a management function?Management functions mean the five broad activities that managers perform to achieve organizational goals: planning, organizing, staffing, directing, and controlling.
The first and the most important function of management is planning. Planning involves setting objectives in advance, a goal which is to be achieved within a stipulated time. Various alternatives are formulated in order to achieve the goals.
Thus, Option A is true as planning is the management function, which is also a financial responsibility.
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2a(x+y) - 3b(x - y)
Mobile marketing has a unique ability to empower users by connecting with them individually and continuously. This socially networked world will lead to connected users having more.
Mobile marketing has a unique ability to empower users by connecting with them individually and continuously. This socially networked world will lead to connected users having more direct interactions with sellers.
What is Mobile marketing?
Mobile marketing is a multi-channel online marketing technique focused at reaching a specific audience on their smartphones, feature phones, tablets, or any other related devices through websites, e-mail, SMS and MMS, social media or mobile applications. Mobile marketing can provide customers with time and location sensitive, personalized information that promotes goods, services, appointment reminders and ideas. In a more theoretical manner, academic Andreas Kaplan defines mobile marketing as "any marketing activity conducted through a ubiquitous network to which consumers are constantly connected using a personal mobile device".Mobile marketing may include promotions sent through SMS text messaging, MMS multimedia messaging, through downloaded apps using push notifications, through in-app or in-game marketing, through mobile websites, or by using a mobile device to scan QR codes.Proximity systems and location-based services can alert users based on geographic location or proximity to a service provider.Mobile marketing is an indispensable tool for companies large and small as mobile devices have become ubiquitous. The key players in the space are the brands (and companies that they represent through advertising), and service providers that enable mobile advertising.Mobile advertising targets audiences not so much by demographics but by behaviours.To learn more about mobile marketing: https://brainly.com/question/4232483
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Jonathan's father opens a fast food restaurant selling burgers and hot dogs. After a couple of years, Joe's sister designs a logo for the food outlet.
The logo shows a smiling cheeseburger wearing a white cap over the brand name. Everybody liked the design, and now Joe would like to register
the design as their own. How can Joe get the design registered?
A.
as a patent with the United States Patents Office
OB. as a trade secret with the United States Trade Office
OC. as a trademark with the United States Patents and Trademark Office
OD. as a brand name with the United States court of law
OE. as a copyright with the Copyright Office
Jonathan can get the design registered as a trademark with United States Patents and Trademark Office. Thus, Option C is the correct statement.
What is the importance of a registering a trademark?Trademarking a logo is a simple process, but important considerations should be made before, during, and after the application filing process.
Logos are a distinct and important business asset that can make an unique impression on customers.
Therefore, in order to protect a logo and its unique identifier(s), business owners should think of trademarking a logo with the United States Patent and Trademark Office (USPTO). Option C is the correct statement.
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Answer:
C
Explanation:
These are the people that will give you the trademark.
1. Some bacteria are helpful to the body and:
a. cause cavities
b. die quickly outside other living cells
c. help the digestive system function properly
d. give you energy
2. Germs produce toxins in the body that can make you:
a. sneeze a lot
b. cough
c. have diarrhea
d. all of the above
3.List three ways to keep germs from spreading.
4. Describe the proper way to wash hands.
5. Describe what the immune system does for the body.
6. An antigen:
a. is an unknown substance that infects the body
b. is a protein that attaches itself to germs to get rid of them
c. destroys germs in the body
d. is a type of immunity you are born with
7. True or false: Vaccinations help to provide us with adaptive immunity, which is immunity that develops as we are exposed to diseases. T F
8. White blood cells help to:
a. infect the body
b. provide passive immunity
c. destroy infections
d. weaken your immune system
9. A specialized protein that recognizes invaders to the body and attaches to them is called:
a. an antigen
b. an antibody
c. a complement
d. a T cell
10. True or false: It’s OK not to wash my hands after using the bathroom at home because it's cleaner than a public restroom. T F
Answer:
I messaged you the asnwer.
Explanation:
Assume the market interest rate is 8% per year and inflation averages 4% per year. (a) Calculate the perpetual equivalent annual worth in future dollars for years 1 through co for an income of $50,000 now and $5000 per year thereafter. (b) If the amounts had been quoted in CV dollars, what is the annual worth in future dollars?
$46,296.30 plus $62,500 equals $108,796.30 in total present value for the income stream.
Determine the annual perpetual equivalent value in future dollars for years 1 through co for an initial income of $50,000 and a yearly income of $5,000.We must first determine the present value of the income stream in order to determine the perpetual equivalent annual worth in future dollars. The following formula can be used to determine the initial $50,000 income's present value:
PV is the present value, FV is the future value, r is the interest rate, and n is the number of years. PV = FV / (1 + r) n.
So, PV = $50,000 / (1 + 0.08) ^ 1 = $46,296.30
The following formula can be used to determine the present value of the annuity of $5,000 per year:
PV equals A / r, where r is the interest rate and A is the annual sum.
So, PV = $5,000 / 0.08 = $62,500
Therefore, $46,296.30 plus $62,500 equals $108,796.30 in total present value for the income stream.
We can use the following formula to determine the perpetual equivalent annual worth in future dollars:
Where AE is the annual equivalent, PV is the present value, r is the interest rate, and n is the number of years, AE = (PV * r) / (1 - (1 + r) -n.
We can set n to infinity assuming a continuous income stream. Thus,
AE = ($108,796.30 * 0.08) / (1 - (1 + 0.08) ^ -∞)
AE = $8,703.70
As a result, $8,703.70 represents the perpetual equivalent annual worth in future dollars for years 1 through infinity.
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the effect of capitalizing a cost that should have been expensed causes ______.
The effect that capitalization of the cost that supposed to be expensed will have is that; The assets will have to be overstated on the balance sheet, while we have to understate the expenses.
A capitalized cost can be regarded as expense that is been added to the cost basis of a fixed asset when working on a balance sheet of a company.It is usually incurred during purchasing of fixed assets.We can conclude that an asset will need to be overstated once there is capitalization of cost.
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Son los que se produjeron en determinado periodo: los costos de los productos vendidos o los costos de los que se encuentran en proceso
La respuesta correcta para esta pregunta abierta es la siguiente.
A pesar de que no se anexan opciones o incisos para responder, podemos decir lo siguiente.
Aquí estamos hablando de los costos históricos. Estos costos son los que se produjeron en determinado periodo: los costos de los productos vendidos o los costos de los que se encuentran en proceso.
Un buen contador dentro de la empresa, se basará en estos costos históricos para poder predecir o proyectar los costos predeterminados y tener cierta información de lo que puede suceder a corto o mediano plazo.
Recordemos que esos costos predeterminados son necesarios para que los contadores puedan elaborar presupuestos lo más apegados a la realidad y se puedan ajustar con el tiempo. Para elaborar estos costos predeterminados, el contador hace uso de herramientas estadísticas.
After graduation from high school in June, you and three classmates plan to travel around the United States. The plan is to visit the capital cities of all 48 contiguous states, taking numerous pictures along the way. The Sunnyside Camera Shop offers to give you a dozen rolls of 36-exposure color film for the trip free if you agree to let it develop and print all the rolls you use, for a stated price per roll. You agree. Are both you and the Sunnyside Camera Shop legally bound? What is the consideration for each party?
Answer:
Yes, both you and the Sunnyside Camera Shop are legally bound. The consideration for you is the free rolls of 36-exposure color film, and the consideration for the Sunnyside Camera Shop is the agreement to develop and print all the rolls you use for a stated price per roll.
Unpredictable policies can result in conflict because employees may ______.
a.
Believe that there is a double standard
b.
Have to guess at what the policies actually are
c.
Give out information that is incorrect
d.
All of the above
Answer:
All of the above
Explanation:
D.
Answer:
D
Explanation:
Above
What are the business reasons for paying dividends and what are the risks of not paying dividends?
Answer:
When a company decides not to offer a dividend, it keeps more money for its own operations. Instead of rewarding investors with a payment, it can invest in its operations or fund expansion in hopes of rewarding investors with more valuable shares of a stronger company.
Explanation:
consumer surplus a. is the area under the demand curve and above price. b. is the same thing as total expenditures on the good. c. is the area below price up to the quantity demanded. d. is the total area under the demand curve up to the quantity demanded
Consumer surplus A) is the area under the demand curve and above the market price.
About consumer surplusIt measures the difference between what consumers are willing to pay and what they actually pay for a good or service. This surplus is the amount of consumer benefit gained by purchasing a good or service at a lower price than they were willing to pay.
Consumer surplus is the area below price up to the quantity demanded. This is the amount of benefit consumers receive for purchasing a good or service at a lower price than the maximum they were willing to pay. It measures the difference between the maximum price a consumer is willing to pay and the actual market price.
The consumer surplus is the area under the demand curve up to the quantity demanded. The total expenditures on the good is the total cost of buying the good or service at the market price. This is the total amount of money consumers have to pay for the good or service. It is the sum of all individual consumer purchases of the good or service at the market price.
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On a school field trip, the number of students, y, is always proportional to the number of adults, x. The line representing this relationship passes through the point (8,96). What is the unit rate, and what does it represent for this situation?
The unit rate means that there are 12 students for each adult.
A linear equation is in the form:
y = mx + b
where y, x are variables, m is the rate of change and b is the initial value of y.
Let y represent the number of students and x represent the number of adults. Since y is proportional to x, hence:
y = mx
The line passes through the point (8,96):
96 = 8m
m = 12
The unit rate means that there are 12 students for each adult.
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In the first two years of a new car's life, it loses:
Answer:
30% of the resale value
Explanation:
what is the difference between mandatory and benchmark practices?
Mandatory practices refer to actions or procedures that are required by law, regulations, or organizational policies, and failure to comply with them may result in legal or disciplinary consequences. On the other hand, benchmark practices are voluntary standards or best practices that organizations adopt to achieve higher performance levels or meet industry standards.
Mandatory practices are essential guidelines that organizations must follow to ensure legal compliance and maintain ethical standards. These practices are typically established by government authorities or regulatory bodies to protect the interests of stakeholders, ensure safety, and maintain fair business practices. Failure to adhere to mandatory practices can lead to legal consequences, penalties, fines, or loss of reputation.
Benchmark practices, on the other hand, are voluntary guidelines or standards that organizations choose to adopt to improve their performance or align with industry best practices. Benchmarking involves comparing an organization's processes, products, or services against those of leading competitors or industry standards. By adopting benchmark practices, organizations aim to enhance their efficiency, quality, and overall performance. These practices may include implementing advanced technologies, streamlining processes, adopting innovative strategies, or improving customer satisfaction.
While mandatory practices are obligatory and non-compliance may have legal implications, benchmark practices are optional but can provide organizations with a competitive edge and drive continuous improvement. Both types of practices play important roles in ensuring compliance, performance, and success in different aspects of business operations.
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What is the One Club? They asked me this on my homework assignment.
Answer:
The One Club is an American non-profit organization that recognizes and promotes excellence in advertising. Founded in New York City as The One Club for Art & Copy, The One Club produces four annual award competitions: One Show, One Show Design, One Show Interactive and One Show Entertainment.