What is responsibility accounting? why should noncontrollable costs be excluded from perfor-mance reports prepared in accordance with responsibility accounting?
Answers
Assigning responsibility is done through a system of control called responsibility accounting. Non-controllable costs are excluded from performance reports prepared in accordance with responsibility accounting because costs and revenues are connected with individuals for improved control and performance appraisal.
Responsibility accounting is a type of management accounting that oversees all of a company's internal accounting, budgeting, and management. Supporting all of a company's planning, costing, and responsibility centers is the main goal of this accounting.
Responsibility accounting serves as a tool for decision-making as well as a means of control. The data gathered by this technology aids management in organizing its upcoming operations. Setting future goals for distinct cost centers is also aided by their historical performance.
Since costs and revenues are linked to specific people for better management and performance evaluation, non-controllable costs are removed from performance reports created in accordance with responsibility accounting.
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Related Questions
Which of the following parties drives markets
Answers
Answer:
There is not options.
Explanation:
there is no choices to pick from.
Define the terms:
- Scarcity
- Choice
- Opportunity cost
- Efficiency
- Inefficiency
Answers
Answer:
Scarcity: In short supply of
Choice: Making a decision
Opportunity Cost: The loss of one aspect of a decision with the benefit of another
Efficiency: Being efficient and accurate as well as reliable
Inefficiency: Not being effective and wasting resources or time
Why should I prepare myself to be career-ready in multiple career clusters ? (3-4 sentences )
Answers
Answer:
Knowing the projected growth trends of your desired future career can help you map out a career trajectory
Find out who the big players are in your desired industry.
Interacting and networking with others can keep you in the loop when it comes to your future career.
Explanation:
How do economists use economic models
Answers
Answer:
Economists use economic models to study particular aspects of economic reality. To do so, they develop a simplified model of reality in which only a few variables are included, and everything else is held constant or ignored.
Explanation:
For example, the most famous economic model is the model of supply and demand, which is used to analyze how consumers and producers interact in the market for a good or service, and how this interaction determines the price.
As we can see, in this economic model of supply and demand, many other things like social class or history are left aside, and only a few variables are included.
According to the law of supply what's the result of an increase in the supply of workers for a job if all other factors remain equal?
Answers
Answer:
According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.
Explanation:
The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.
Answer:
The wage rate for that job will be pushed down.
Explanation: I just took the test and got it right
outline 2 advantages to H&H of using secondary market research
Answers
Explanation:
It provides quick information and factual background perspectives
It is less expensive and affordable
When janelle decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but when she visited her local best buy, she limited her search to only those brands she would consider buying. the brands available at best buy represent janelle's set.
Answers
Situational influences are transient circumstances that have an impact on consumer behavior.They include tangible elements like a store's layout, buying areas, music, lighting, and even odors.Businesses work to improve the physical conditions that shoppers encounter.
What are the situational factors that could alter the consumer decision making at the time of purchase?The likelihood that someone will go through all six stages of the purchasing process is probably limited to specific circumstances, such as when purchasing a thing for the first time or when purchasing expensive, durable, infrequently used items.Complex decision-making is what is meant when this occurs. Which of the aforementioned purchases would consumers be most likely to make with limited problem-solving.A regular coffee drinker's typical purchase is generally coffee to go.But problem solving skills will likely be reduced as a result of college courses. Physical surroundings, social surroundings, temporal perspective, task description, and antecedent state are the five components that make up situational factors. There are four different forms of consumer behavior: complex buying behavior, dissonance reduction, variety seeking, and habitual buying behavior. Consumer decision-making can appear complicated, but all buyers follow the same fundamental stages to choose the goods and services that will best meet their needs.Whether purchasing something, especially when it's something substantial like a car, consider your own thought process. When acquiring high-involvement products, buyers don't exhibit routine response behavior.Instead, they participate in what is known as prolonged problem solving, spending a lot of time weighing various factors such product features, costs, and warranties.To learn more about decision making refer
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a company can use direct marketing to build a favorable image. True or false?
Answers
True. Direct marketing involves techniques like email campaigns, telemarketing, direct mail, print and broadcast advertising, and online advertising.
These techniques allow companies to reach potential customers in a personalized way while sharing their product or service information. Thus, through direct marketing, a company can build a favorable image by fostering relationships with customers and by communicating its value and the benefits of using its services or products.
For instance, a company can send personalized emails and product information to customers and potential customers, or promote its services or products through social media ads. Through such efforts, the company can create customer loyalty, build relationships and a positive brand image.
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Why can communicating with someone with a different background than yours present challenges?
Answers
the ________ shows the relationship between the price level and quantity of real gdp demanded.
Answers
The Aggregate Demand Curve shows that the relationship between the price and level and quantity of real gdp demanded.
The aggregate demand curve is a graphical representation of the relationship between the aggregate quantity of goods and services demanded in an economy and the overall price level. It is an economic tool used to analyze macroeconomic conditions and to evaluate the effects of fiscal and monetary policies on the economy. In the aggregate demand curve, the quantity of output demanded increases as the price level decreases. This inverse relationship is known as the law of demand. As the price level rises, the quantity of output demanded decreases. The downward slope of the aggregate demand curve is a result of the law of diminishing marginal utility.
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machinery was purchased on january 1 for $70,000. the machinery has an estimated life of 7 years and an estimated salvage value of $9,000. double-declining-balance depreciation for the second year would be
Answers
The double-declining-balance depreciation for the second year would be approximately $15,428.57.
To calculate the double-declining-balance depreciation for the second year, we need to determine the depreciation rate and the book value of the machinery.
The depreciation rate is calculated by dividing 2 by the estimated life of the machinery, which is 7 years.
Therefore, the depreciation rate is 2/7, or 28.57%.
To find the book value at the beginning of the second year, we subtract the accumulated depreciation from the initial cost of the machinery. In the first year, the depreciation expense would be
($70,000 - $9,000) * 28.57%
= $16,000.
Thus, the accumulated depreciation at the end of the first year is $16,000.
The book value at the beginning of the second year is the initial cost minus the accumulated depreciation, which is
$70,000 - $16,000 = $54,000.
Now, we can calculate the depreciation expense for the second year. It is the book value at the beginning of the year multiplied by the depreciation rate, which is
$54,000 * 28.57% = $15,428.57.
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Wayne is planning to sell the twenty-room apartment building he bought fifteen years ago, for which he paid $759,000. The real estate market in his area has been falling since that time, and the property has decreased in value by 3.8% every year. Wayne rents each of his apartments for $495 per month, and upkeep on the building costs him $26,400 annually. Assuming that Wayne has kept his apartment complex constantly three-quarters full, what will his net profit or loss be when he sells the building, to the nearest hundred dollars
Answers
Answer:
The net profit of Wayne will be $606,000.
Explanation:
Note: See the attached excel file for the calculation of the annual end of year value of the building.
From the attached excel file, we have:
Value of the building at the end of the year 15 = $424,490.38
From the question, we can have:
Annual revenue from the building = Monthly rent * Number of rooms * Number of months in a year * three-quarters = $495 * 20 * 12 * (3/4) = $89,100
Annual cost of upkeep on the building = $26,400
Total profit from renting out the building = (Annual revenue from the building - Annual cost of upkeep on the building) * Number of years = ($89,100 - $26,400) * 15 = $940,500
Therefore, we have:
Net profit (loss) when Wayne sells the building = Value of the building at the end of the year 15 + Total profit from renting out the building - Cost of the building = $424,490.38 + $940,500 - $759,000 = $605,990.38
Rounding to the nearest hundred dollars as required, we have:
Net profit (loss) when Wayne sells the building = $606,000
Therefore, the net profit of Wayne will be $606,000.
$606,000 on edge 2021 c:
Why are wages and salaries generally determined by the market for labor?
Answers
According to maximum economics textbooks, our wages and salaries are decided similar to another price: with the aid of using deliver and call for. People deliver their labor, and organizations call for it, growing a marketplace for labor.
Many dealers and shoppers of exertions services. Consequently, salary and salaries are decided by the intersection of the call for exertions and the deliver for exertions. A curve displaying the one-of-a-kind portions of exertions employers are inclined to lease at one-of-a-kind salary quotes in a given time period, ceteris paribus.
Wages are determined via way of means of deliver and demand, however they may be encouraged via way of means of an extensive kind of factors, along with the price of dwelling in a selected area, the presence of a union and the present-day minimal wage.
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when you click on your account and you go to the about column it will say warnings at the bottom I don't have any but why would you get one
Answers
Answer:
i don't have as well i don't know what are u talking about
Suppose the Fed decreases the money supply. In response households and firms will ________ short-term assets and this will drive ________ interest rates.A. buy; upB. buy; downC. sell; upD. sell; down
Answers
Let's say the Fed tightens up the money supply. In reaction, individuals and businesses will buy short-term assets, which will raise interest rates. Option A is Correct.
So, the first short-term asset consequence of a decline in the money supply is an increase in interest rates. Businesses are less inclined to borrow money for investment purposes when interest rates climb. Also, customers are less eager to take out loans to acquire things like houses, vehicles, and other items.
Interest rates for assets tend to rise when the Federal Reserve reduces the amount of money in circulation. The open market is where the federal reserve may sell bonds, which banks and other financial organizations buy. That could increase the need for reserves. The discount rate can increase. Bonds may be sold by it. Option A is Correct.
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The aggregate marginal product of labor is given byThe aggregate marginal product of labor is given by MPN =A (600-N)2 where N is employment and A = 5.9 is the TFP. The labor supply is described by N=b+7w0.5, where b = 512 and w is the real wage. The
Answers
The given equation for the aggregate marginal product of labor, \(MPN = A(600-N)^2\), shows that the productivity of labor decreases as employment increases.
This is because as more workers are hired, there may be a lack of resources or coordination, leading to diminishing returns.
To understand the impact of real wages on employment, we can use the labor supply equation, \(N = b + 7w^{0.5}\), where b = 512 and w is the real wage. This equation shows that as real wages increase, the supply of labor also increases.
This makes sense as workers are more willing to work at higher wages, leading to a larger pool of available workers for employers to hire.
To determine the equilibrium level of employment, we need to set the aggregate marginal product of labor equal to the real wage,
since firms will only hire workers if their productivity exceeds their cost. Thus, we have:
\(A(600-N)^2\)= w
Substituting \(N = b + 7w^{0.5}\), we get:
\(A(600-(b+7w^{0.5}))^2\) = w
Solving for w, we get:
\(w = A(600-(b+7w^{0.5}))^2\)
This equation can be solved numerically using software or algebraic techniques, but the result will depend on the specific values of A and b. However, in general,
we can see that higher productivity (A) and lower labor supply (b) will lead to higher equilibrium employment levels, while higher real wages will lead to lower employment levels.
Overall, the relationship between the aggregate marginal product of labor and labor supply can help us understand how changes in real wages and productivity affect employment levels in the economy.
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Jhuly’s Cat topia Co. has $14 million in annual credit sales with a cost of goods of $10.5 million. The balance sheet shows $5 million in accounts receivable, $4 million in inventory (professor comment, "That’s a pile of kitty litter!") and accounts payable of $2 million at the end of the period. They finance working capital with bank loan that charges 10.1% interest. In days what is Cat topia’s cash conversion cycle? (Round to the nearest day on your intermediate calculations)
Group of answer choices 199 339 130 139
Answers
If Jhuly's Cat Topia Co. has $14 million in annual credit sales with a cost of goods of $10.5 million then Cat Topia's cash conversion cycle is 139 days.
The balance sheet shows $5 million in accounts receivable, $4 million in inventory, and accounts payable of $2 million at the end of the period. They finance working capital with a bank loan that charges 10.1% interest.
In days, the cash conversion cycle of Cat Topia is 139.
The cash conversion cycle is a metric that tracks the number of days it takes to convert a company's investment in inventory and other resources into cash flows from sales.
The formula is Cash Conversion Cycle = Days of Inventory Outstanding + Days of Sales Outstanding - Days of Payables Outstanding. So, let's calculate these values: DIO = Average Inventory / (COGS / 365) = $4,000,000 / ($10,500,000 / 365) = 140 days
DSO = Accounts Receivable / (Annual Sales / 365) = $5,000,000 / ($14,000,000 / 365) = 131 daysDPO = Accounts Payable / (COGS / 365) = $2,000,000 / ($10,500,000 / 365) = 70 days
Therefore, CCC = DIO + DSO - DPO = 140 + 131 - 70 = 201 days
However, this is the number of days in which the company turns its investment in inventory and accounts receivable into cash. So we have to subtract from this the number of days it takes the company to repay its accounts payable: CCC = 201 - 62 = 139
Therefore, Cat Topia's cash conversion cycle is 139 days.
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Oscar received his credit report and sees that his VantageScore is 400. Which factor could be the cause?
a
He filed for bankruptcy 15 years ago.
b
He has five credits cards with high balances.
c
He has a low debt-to-credit ratio.
d
He has applied for his first loan in his life.
Answers
Answer:
b. He has five credits cards with high balances.
Explanation:
A VantageScore is a credit score model that shows the probability that someone will pay the loans. A 400 VantageScore is very poor and people can get this score for different situations like bankruptcies as they will appear in your report for up to 10 years, having high utilization rates on your credit card and missing payments. According to this, the answer is that the factor that could be the cause is: he has five credits cards with high balances because he would have a high utilization rate which hurts the credit score.
The other options are not right because a bankruptcy appears in the report for up to 10 years, a low debt to credit ratio shows that you use your credit in a responsible form and it won't hurt your credit acore. Also, if someone doesn't have a credit history, there is no score because there is no data to define that.
All of the following are ways to avoid injuries when working on computers except ________. So you are looking up at it ensuring proper lighting taking breaks purchasing an adjustable chair
Answers
Option a: All of the following are ways to avoid injuries when working on computers EXCEPT placing a monitor 12" from the eye.
When we talk about computer-related injuries, we mean any type of aches, pains, aches, pains, or syndromes resulting from computer use. In addition to repeated injuries, this includes conditions caused by poor workplace design, improper posture, and uncomfortable furniture.
To make matters worse, computer-related injury statistics show that the problem is becoming more common. Musculoskeletal disorders alone affect 1.8 million workers and incapacitate 600,000.
Computer-related injuries at work come in many forms. They can take the form of muscle spasms, strains, sprains, headaches, and joint pain.
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Complete question:
All of the following are ways to avoid injuries while working on computers except ______.
(a) placing a monitor atleast 12 inches from the eyes
(b) purchasing an adjustable chair
(c) ensuring proper lightening
(d) taking breaks
Brent called insurance companies and got insurance quotes for the three trucks. Both the 1996 Ford F150 and the 1998 Chevy 1500 were quoted for $250 and the 2000 Toyota Tundra was quoted for $245. To help Brent make his decision gather some more reliable information by using newspapers, or looking at their Web sites, and reviewing consumer magazines and Web sites. Also, look at the manufacturer Web site or www.fueleconomy.gov for information about gas mileage. List the sources you use and include the notes you take from each source.
Use the PACED decision-making process to make the decision for Brent. Show your work.
Answers
The sources that one could use to gather some more reliable information regarding the insurance companies are;
P - Problem - there is a need to make a choice
A - Alternatives - The alternatives here are two insurance companies
C - Criteria - We need to establish the company that is more reliable
E - Evaluate - This is the process of comparing information obtained about both companies
D - Decision making - This is the process of making a decision to go with the best insurance company.
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In the formula P3 = Div/ R- g the dividend is for what period ?
A. One
B. Two
C. Three
D. Four
E. Five
Answers
The correct option is Option A. The dividend in the formula P3 = Div / (R - g) is for one period.
The correct option is Option A. In the given formula, "Div" represents the dividend, and it is divided by the difference between the required rate of return (R) and the growth rate (g). The dividend in this context refers to the cash payment or distribution made by a company to its shareholders, usually on a periodic basis. The formula calculates the present value of the cash flows, specifically the value of the dividend at a future period, denoted as P3. Therefore, the dividend used in this formula is for one period, indicating the cash flow expected in a single time period.
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What is the expected value of each option?
Answers
With insurance is 1,780
Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor $ 219,000 $ 269,000 ? Administrative expenses $ 157,000 $364,000 Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 353,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 58,000 Ending $ 33,000 Raw materials Work in process 2 $ 29,000 Finished goods $ 37,000 ? The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $725,000; the unadjusted cost of goods sold totaled $663,000; and the net operating income was $32,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS Statement Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin 0 Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income < Income Statement COGS Schedule >
Answers
a) The income statement includes the cost of goods sold, selling expenses, administrative expenses, and net operating income.
b) The income statement includes the cost of goods sold, selling expenses, administrative expenses, and net operating income.
c) The COGM schedule calculates the cost of goods manufactured by considering the beginning inventory balances, total manufacturing costs added to production, and the ending inventory balances.
a) Sales: Not provided in the given data.
Cost of goods sold: $663,000 (unadjusted cost of goods sold).
Gross margin: Not provided in the given data.
Selling expenses: $219,000.
Administrative expenses: $157,000.
Net operating income: $32,000.
b) COGS Schedule:
Beginning inventory: Raw materials - $58,000, Work in process - $29,000, Finished goods - $37,000.
Total manufacturing costs added to production: $680,000.
Cost of goods available for sale: $725,000.
Ending inventory: Raw materials - $33,000, Work in process - $?, Finished goods - ?.
Unadjusted cost of goods sold: $663,000.
COGM Schedule:
Beginning inventory: Raw materials - $58,000, Work in process - $29,000, Finished goods - $37,000.
Total manufacturing costs added to production: $680,000.
Cost of goods manufactured: $?,
Ending inventory: Raw materials - $33,000, Work in process - $?, Finished goods - ?.
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Which of the following is a primary activity in the generic value chain?
a. Human resource management
b. Inbound logistics
c. Procurement
d. Firm infrastructure
e. Technology development
Answers
The primary activity in the generic value chain is inbound logistics. This includes receiving, storing, and distributing inputs to the production process.(option b)
Inbound logistics is critical to the success of a business as it affects the efficiency and effectiveness of the entire production process. It involves activities such as transportation, warehousing, and inventory control. By managing these activities effectively, businesses can minimize costs, improve production processes, and ultimately increase profitability.
While human resource management, procurement, firm infrastructure, and technology development are all important components of the value chain, they are considered support activities rather than primary activities. Support activities play a crucial role in enabling primary activities to function effectively, but they do not directly add value to the final product or service. Therefore, inbound logistics is the primary activity in the generic value chain.
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What is Helena Fogarty doing to build brand equity for Mi Ola?
Answers
Answer:
she is using social media to build brand equity.
Explanation:
Helena Fogarty is using social media as an advertising resource due to the fact that more and more people will see it since social media is a big platform. she is also using this to her advantage as she can get feed back in order to make adjustments to her products.Helena Fogarty is using social media to build brand equity for Mi Ola.
Brand equity simply means the value premium that a business or company generates from a product with a recognizable name.
It should be noted that brand equity is also known as the brand worth of a company. It's the social value of a brand name. Helena Fogarty is using social media to build brand equity for Mi Ola. One can advertise its product on social media and create awareness. This will help improve sales and revenue.
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Where can a Member find the Top Answers page relating to HR questions?
Answers
A Member can find the Top Answers page relating to HR questions by visiting the website of a reputable HR consulting firm or industry organization, such as the Society for Human Resource Management (SHRM).
These organizations often have a knowledge center or resource library on their website that includes frequently asked questions and top answers related to HR topics. Additionally, online communities such as Quora or LinkedIn may have groups or forums dedicated to HR professionals where members can find top answers to their questions.
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eric provides cheese (h) and milk (m) to the market with the following total cost function: c(h, m)
Answers
An output of 12.5 units of milk will maximize profits.To maximize profits, we need to determine the level of milk output that maximizes the difference between revenue and cost.
First, let's find the revenue function. Since the market prices for cheese and milk are $2 and $5 respectively, the revenue from milk (R) can be calculated as R = 5M.
Next, let's substitute the revenue function and the cost function (C) into the profit function (P) to find the level of milk output that maximizes profits. The profit function is given by P = R - C.
Substituting the revenue and cost functions, we get P =\(5M - (10 + 0.4H^2 + 0.2M^2).\)
To maximize profits, we need to differentiate the profit function with respect to M and set it equal to zero.
Differentiating P with respect to M, we get dP/d M = 5 - 0.4M ⇒ 0.
Solving for M, we have 0.4M = 5, which gives M = 12.5.
Therefore, an output of 12.5 units of milk will maximize profits.
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Given question is incomplete. Hence, the complete question is :
Eric provides cheese (H) and milk (M) to the market with the following total cost function: C(H, M) = 10 + 0.4H2 + 0.2M2. The prices of cheese and milk in the market are $2 and $5 respectively. Assume that the cheese and milk markets are perfectly competitive. What output of milk maximizes profits?
the change in owners' equity due to only revenue and expense transactions is explained by the: multiple choice statement of cash flows. statement of financial position. income statement. tax return.
Answers
The change in owners' equity due to only revenue and expense transactions is explained by the: income statement. The correct option is C.
The income statement, also known as the statement of comprehensive income or profit and loss statement, shows the revenue earned and expenses incurred during a specific period, such as a month or a year.
By subtracting the total expenses from the total revenue, the income statement calculates the net income or loss for the period. This net income or loss directly affects the owners' equity as it represents the change in the company's financial position during the period.
Revenue transactions increase owners' equity, while expense transactions decrease owners' equity. Therefore, the income statement explains the change in owners' equity due to these transactions.
The statement of cash flows, on the other hand, shows the cash inflows and outflows during the period, while the statement of financial position, also known as the balance sheet, shows the company's assets, liabilities, and equity at a specific point in time. The tax return is a document filed with the tax authorities that shows the company's taxable income and tax liability. The correct option is C.
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Complete question:
the change in owners' equity due to only revenue and expense transactions is explained by the: multiple choice
a. statement of cash flows.
b. statement of financial position.
c. income statement.
d. tax return.
The idea that the white race is superior to other races is called
Answers
Answer:
racism
Explanation:
What are 3 purposes of monetary policy?
Answers
By controlling the money supply and interest rates, monetary policy primarily aims to increase or decrease the size of the economy. It can also reduce the amount of cash available at commercial banks. By expanding the money supply, you can affect the competitiveness between commercial banks.
A macroeconomic tool employed by governments through their respective monetary authorities to affect economic growth is a monetary policy. Be aware that a monetary authority may be a central bank, a currency board, or another government-appointed regulatory agency depending on the country. By influencing the supply, pricing, and availability of money, monetary policy entails those actions taken to maintain the smooth operation of the economic system or a certain set of goals. Different economists have given different definitions to the term "monetary policy".
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