a. November adjusting entry: Debit Bad Debts Expense $650, Credit Allowance for Doubtful Accounts $650.
b. Estimated year-end balance for Allowance for Doubtful Accounts: $12,560.
c. December 31 adjusting entry: Debit Bad Debts Expense $10,510, Credit Allowance for Doubtful Accounts $10,510
a. To prepare the November adjusting entry for bad debts using the percentage of credit sales method, we will calculate the amount of uncollectible accounts based on the credit sales and the estimated percentage.
Credit sales = $130,000
Estimated bad debts = 1/2 of 1% of credit sales
= 0.5% * $130,000
= $650
Adjusting entry:
Bad Debts Expense $650
Allowance for Doubtful Accounts $650
b. To estimate an appropriate year-end balance for the Allowance for Doubtful Accounts using the aging of accounts receivable method, we will calculate the uncollectible amounts for each age group based on their respective estimated average rates of uncollectibility.
1-30 days old: $84,000 * 10% = $8,400
31-90 days old: $11,000 * 20% = $2,200
More than 90 days old: $4,900 * 40% = $1,960
Estimated year-end balance for the Allowance for Doubtful Accounts:
Allowance for Doubtful Accounts = $8,400 + $2,200 + $1,960
= $12,560
c. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $2,050 credit balance at December 31.
Adjusting entry:
Bad Debts Expense $10,510 ($12,560 - $2,050)
Allowance for Doubtful Accounts $10,510
Hence, the November adjusting entry for bad debts using the percentage of credit sales method is a debit of $650 to Bad Debts Expense and a credit of $650 to the Allowance for Doubtful Accounts. The estimated year-end balance for the Allowance for Doubtful Accounts using the aging of accounts receivable method is $12,560. The December 31 adjusting entry for bad debts using the aging of accounts receivable method is a debit of $10,510 to Bad Debts Expense and a credit of $10,510 to the Allowance for Doubtful Accounts.
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1) On a Word Document, compare the decision-making styles of two recent presidents. (From the 1980 s to Current) Which style is most effective? Why?
This response provides a comparative analysis of the decision-making styles of two recent presidents from the 1980s to the present. The most effective style cannot be determined definitively as it depends on various factors and individual perspectives.
Comparing decision-making styles of presidents can be subjective and influenced by personal viewpoints. However, let's consider two presidents as examples. Ronald Reagan, who served as the 40th President of the United States from 1981 to 1989, was known for his strong leadership and a more centralized decision-making style. He often relied on a small circle of advisors and was decisive in implementing his policies.
On the other hand, Barack Obama, who served as the 44th President from 2009 to 2017, exhibited a more deliberative and collaborative decision-making style. He valued input from various stakeholders, sought consensus, and carefully analyzed different perspectives before making decisions.
Determining which style is most effective depends on the specific context and criteria used for evaluation. Effectiveness can be measured by factors such as the ability to achieve policy goals, respond to crises, build consensus, and promote transparency. Different challenges require different approaches, and the effectiveness of a decision-making style can vary based on the situation.
Ultimately, the effectiveness of a decision-making style is subjective and depends on individual perspectives, the context of the presidency, and the outcomes achieved.
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Exodus Inc. has annual sales of $80,000,000; its average inventory is $20,000,000; and its average accounts receivable is $16,000,000. The firm buys all raw materials on terms of net 35 days with cost of the good sold $180,000 per day. The firm is searching for ways to shorten the cash conversion cycle. If sales and cost of the good sold can be maintained at existing levels while lowering inventory conversion cycle by 20 days, lowering average collection period by 10 days and postponing its payable to 37 days, calculate the Exodus increase in its free cash flow after the change in its cash conversion cycle.
Exodus Inc. would experience an increase in its free cash flow of $4,680,000 after shortening the cash conversion cycle.
By shortening the inventory conversion period by 20 days, lowering the average collection period by 10 days, and postponing the payable period to 37 days, Exodus Inc. can improve its cash conversion cycle. The current inventory conversion period is 111.11 days, but it would be reduced to 91.11 days. The average collection period would decrease from 73 days to 63 days. Additionally, the payable period would be extended by 2 days to 37 days.
To calculate the increase in free cash flow, we use the formula: Increase in Free Cash Flow = (Decrease in Inventory Conversion Period + Decrease in Average Collection Period - Increase in Payable Period) * Daily Cost of Goods Sold. By substituting the appropriate values, we find that the increase in free cash flow is $4,680,000. This increase reflects the positive impact of optimizing the cash conversion cycle, leading to improved cash flow for Exodus Inc.
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The file Eimployee tat cantains employee deulls of tav type of enployees, monthly-peid and weurly-paid. The Wrie a properam that will nad all die employees details from the tect file. If eriployer tope is manthy , the employ ce details will be ave to the monthly sxt file eise another file hourh at will be chand to save the hourly employee details.
To separate employee details from a text file based on payment type (monthly or hourly), write a program that reads the file, identifies the payment type, and saves the details to respective output files accordingly.
To read employee details from a text file and separate them based on their payment type (monthly or hourly), you would typically need to write a program in a programming language of your choice. Here is a high-level algorithm you can follow:
Open the input text file for reading.Create two output files: one for monthly-paid employees and another for hourly-paid employees.Read each line of the input file.Split the line into individual details (e.g., employee ID, name, payment type).Based on the payment type, write the details to the respective output file (monthly or hourly).Repeat steps 4-5 for each line in the input file.Close all the files after processing.Remember to handle any errors or exceptions that may occur during file operations or data processing. Additionally, ensure that you define the file format and structure, such as the delimiter used to separate employee details in the input file.
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Discuss how Zipcar is more a lifestyle brand than a travel brand, and what this means. How does this impact the company's promotional efforts? What solutions does Zipcar provide, and how does this make it a lifestyle brand?
Answer and Explanation:
When Zipcar presents itself as a lifestyle, it is showing that it will be something indispensable in the lives of its users, that it will change the way they see the transport of car ownership and that it will promote very positive changes in their lives. This concept establishes a more personal and emotional relationship between users and the company that can be very beneficial for both, especially for the company that can stimulate promotional efforts that stimulate this concept and promote customer loyalty and comfort.
Zipcar offers the use of cars, very inexpensively for people who will need the car for a few hours. This allows users to own a car whenever necessary, without having to pay for the entire process and economic investment that a car requires.
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P.S. I WILL GIVE BRAINLIEST TO THE BEST ANSWER!!!!
Who here knows how to give answers that you know will automatically get you brainliest when the second person answers?
Answer:
give the correct answer and a good,clear explanation:))
Explanation:
Answer:
briefly do some research and give the best answer u find
Explanation:
Use the midpoint method to calculate the price elasticity of demand for burritos. Burritos increased in price from $2 to $3 and the quantity demanded fell from 100 to 50. Round to the nearest 2 decimal places
The price elasticity of demand for burritos, rounded to the nearest two decimal places, is approximately -1.67.
To calculate the price elasticity of demand using the midpoint method, we'll use the following formula:
Price Elasticity of Demand = (Percentage Change in Quantity Demanded) / (Percentage Change in Price)
First, let's calculate the percentage change in quantity demanded:
Percentage Change in Quantity Demanded = ((New Quantity Demanded - Initial Quantity Demanded) / ((New Quantity Demanded + Initial Quantity Demanded) / 2)) * 100
= ((50 - 100) / ((50 + 100) / 2)) * 100
= (-50 / 75) * 100
= -66.67%
Next, let's calculate the percentage change in price:
Percentage Change in Price = ((New Price - Initial Price) / ((New Price + Initial Price) / 2)) * 100
= ((3 - 2) / ((3 + 2) / 2)) * 100
= (1 / 2.5) * 100
= 40%
Now, we can calculate the price elasticity of demand:
Price Elasticity of Demand = (Percentage Change in Quantity Demanded) / (Percentage Change in Price)
= (-66.67% / 40%)
≈ -1.67
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What are good sides and bad sides of breaking news and some examples why is it bad/good?
Answer:
breaking news may have a bad news example of bad news is fake news
Answer:
In my opinion, I see that the good side of news is that it help people be more aware of what's going around, and some may contribute to the rise in support for some fundings and charity programs for example: if a breaking news about a victim of any crime for example stolen house is displayed, an interview can give a voice to the victim to speak out and maybe raise fundings to repair all stolen goods or damaged items. On the other hand, some breaking news can end up sending out the wrong message and information for example talking about untrustable information, which may later on turn out to be wrong this can cause rumors.
The most important advantage to the corporate form of business is:.
Answer:
limiting the personal liability of its directors toward the company's creditors,
a service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction. this process is known as . question content area bottom part 1 a. supplier and vendor marketing b. service differentiation c. external marketing d. internal marketing e. interactive marketing
This process is known as supplier and vendor marketing. Vendors of marketing automation offer users solutions for organising and streamlining workflows, planning, coordinating, and measuring various marketing operations.
Vendors in this area often provide tools to assist with lead management, social media marketing, email campaigns, and other tasks. A corporation that provides merchandise for upscale apparel boutiques is an illustration of a vendor. A supplier contacts the business to make an order, specifying the products it needs as well as the quantity of each. The business then obtains the required goods from the supplier and sends them to the retailer.
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Economic profit equals total revenue minus:a) the cost of resources bought in the market.b) the implicit rental rate.c) the cost of resources owned by the firm.d) the cost of resources supplied by the owner.e) the opportunity cost of production.
According to the provided choices of alternatives, it may be said that the economic profit is equal to the total revenue less the opportunity cost of production. Therefore, the option E holds true.
The economic profit can be referred to or taken into consideration for general understanding as the surplus generated by the firms by choosing to produce between two or more alternatives generating higher revenues at same or lower costs. This is heavily dependent upon the opportunity costs of the firms. Thus, the significance of what economic profit is has been aforementioned.
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Why is rotating employees into different positions a good internal control
procedure?
A. because it saves money in training costs and in employee salaries
B. because the organization can fill open positions more quickly
C. because the longer employees stay in one position, the less likely
they are to comply with company policy
D. because it allows people to spot instances of internal control
noncompliance
If the organisation cannot accommodate a promotion or permanent reassignment into a position that matches the individual's interest or skill set, job rotations can expose team members to roles and responsibilities on a periodic basis.
What do well-separated duties and job rotation mean?
By splitting the jobs among the personnel, separation of duties prohibits any one person or entity from being able to accomplish all the activities of a crucial or delicate procedure. Employees who are subject to job rotation policies are expected to switch roles frequently. By taking on new responsibilities, individuals develop their experience and abilities in a job rotation system. The purpose of rotations is to encourage adaptability, employee engagement, and retention.
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Answer:
D. Because it allows people to spot instances of internal control noncompliance
Explanation:
Rotating employees is generally good internal control because so long as the employees aren't colluding, a pair of fresh eyes may be able to catch mistakes or other issues that a previous employee made.
A(n) _____ is a social responsiveness strategy in which a company accepts responsibility for a problem and does all that society expects to solve that problem. discretionary strategy reactive strategy defensive strategy accommodative strategy
An accommodative strategy is a social responsiveness strategy in which a company accepts responsibility for a problem and does all that society expects to solve that problem.
A society is a group of people in regular contact with each other who reside in the same physical or social realm and are usually under the control of the same political leadership and general cultural expectations, or a significant society. group. Society is defined by the relationship patterns that exist among people who share a common culture and set of institutions.
A society can be defined as the totality of these relationships among its members. In the social sciences, subgroup dominance or stratification patterns often occur in larger societies. Society creates patterns of behavior by designating certain behaviors and ideas as acceptable or unacceptable.
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Fill The Blank? Germany did not allow Walmart to sell some items below cost, an example of how a foreign government can constrain _________, which here made it impossible for Walmart to compete with local discount stores.
This is an example of a foreign government restricting its pricing strategy and making it impossible for Walmart to compete with domestic discounters.
While selling their goods and services, businesses can employ a variety of pricing techniques. Executives must first assess the company's pricing position, price segmentation, pricing capabilities, and competing pricing strategies in order to select the most efficient pricing plan. Pricing strategies and methods differ from business to business, between nations, cultures, and industries, as well as through time as markets and industries develop and overall economic conditions change.
The price a business sets for its goods is determined by its pricing strategy. Price can be set to increase revenue from either a single sale or the market as a whole. It can also be used to gain market share inside a market, protect a current market from new competitors, or enter new markets.
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the following table shows a water company's demand curve and cost information for the production of its good. what quantity will it produce in order to maximize profit? quantity price per unit total cost 10 $10 $20 20 $8 $50 30 $6 $65 40 $4 $90 50 $2 $120 question 8 options: 20 30 40 10
The quantity will it produce in order to maximize profit is 30. Therefore, the correct option is 2.
To determine the quantity that the water company should produce to maximize profit, we will use the information provided in the table and the terms you've mentioned.
1. Calculate the total revenue (TR) for each quantity level by multiplying the quantity by the price per unit.
2. Calculate the profit (π) for each quantity level by subtracting total cost (TC) from total revenue (TR).
3. Compare the profit values to find the maximum profit.
Let's perform these calculations:
Quantity (Q) | Price per unit (P) | Total cost (TC) | Total revenue (TR) | Profit (π)
--------------------------------------------------------------------------------------
10 | $10 | $20 | $100 (10x10) | $80 (100-20)
20 | $8 | $50 | $160 (20x8) | $110 (160-50)
30 | $6 | $65 | $180 (30x6) | $115 (180-65)
40 | $4 | $90 | $160 (40x4) | $70 (160-90)
50 | $2 | $120 | $100 (50x2) | -$20 (100-120)
Based on the calculations, the water company will produce 30 units to maximize profit, as it has the highest profit of $115 at that quantity level. So, the correct answer is option 2: 30.
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You are shipping goods from Montreal to Altamira, Mexico. Which of the following costs would NOT be included on a freight forwarder's invoice if they offer door to door service? Multiple Choice Insurance Costs Freight Cost Strapping Costs Customs Duties
If you are shipping goods from Montreal to Altamira, Mexico, the customs duties costs would NOT be included on a freight forwarder's invoice if they offer door to door service.
Custom duties are payable by the recipient of the goods, which means that it is not a part of the freight forwarder's invoice.
What are the other costs included in the invoice of freight forwarders if they offer door-to-door services?1. Insurance Costs: The insurance costs include the amount charged to protect the goods from any potential risks or damages during transit.
2. Freight Cost: The freight cost includes the amount charged by the freight forwarder to transport the goods from Montreal to Altamira, Mexico.
3. Strapping Costs: The strapping costs include the amount charged to protect the goods with straps or other protective materials for transit.
These costs can vary depending on the nature of the goods, their size, weight, and other factors. Therefore, the correct answer is customs duties.
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Shirley Lach and Lynwood wiseman formed Man O’ war Limited Partnership
In 1986, Shirley Lach and her then husb-and, Lynwood Wise-man, formed Man O’War Limited Partner-ship for the purpose of leasing real property and devel-oping and operating shop-ping centers.
Robert Miller be-came a general partner along with Wiseman. Lach was one of 8 limited partners. The partners’ owner-ship percentages were Miller, 1%, Wiseman, 32%, Lach, 27%, Jonathan Miller, 9%, Harry B. Miller, 12%, Harvey Morgan, 1 percent, Penny Mill-er, 3 percent, Jeffery Mullens, 1%, Jennifer Miller, 9%, and Sophie Wiseman, 5%. Wiseman, Lach, and Robert Miller also form-ed M.O.W. Place, Ltd., to lease a shop-ping center from the joint venture. In 1988, Wise-man and Lach were divorced, but cont-inued in business together.
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In your own words, provide a 200 word response to the following question:
Give two examples of programmed and non-programned decisions that you make at your place of employment, or have previously made at a past employer.
At my previous place of employment, I encountered both programmed and non-programmed decisions on a regular basis. Programmed decisions are routine, repetitive decisions that can be easily addressed using established rules, procedures, or guidelines. On the other hand, non-programmed decisions are unique, complex, and require a higher level of analysis and judgment.
One example of a programmed decision I made was related to handling customer returns. There were specific procedures in place that outlined the steps to be followed when processing returns, including verifying the purchase, inspecting the product, and providing a refund or exchange based on the condition of the item. This decision was programmed because the steps were well-defined and followed a standard process, making it easier to handle similar situations consistently.
In contrast, a non-programmed decision I encountered was when a major supplier suddenly discontinued a critical product we regularly stocked. This required evaluating alternative suppliers, negotiating new contracts, and ensuring a smooth transition to a different product. This decision was non-programmed because it involved analyzing various options, considering potential risks and benefits, and making a strategic decision based on the unique circumstances.
Both programmed and non-programmed decisions play an essential role in the workplace. Programmed decisions help maintain efficiency and consistency in routine tasks, while non-programmed decisions allow for flexibility and adaptability in addressing unforeseen challenges or strategic initiatives. By recognizing the nature of the decision at hand, I can approach each situation with the appropriate level of analysis and judgment to ensure the best outcome for the organization.
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Think of an action by a business organization (sole proprietor, partnership, or corporation) that was legal but still strikes you as wrong. What was it? Why do you think it was wrong?
One action that comes to mind is a large corporation laying off a significant number of employees in order to increase profits, even if the company is already highly profitable.
Why is it wrong?While this action may be legal and may make financial sense in the short term, it can have negative impacts on the lives of the employees who are laid off and their families. Losing a job can cause significant financial hardship and emotional stress, and it can be difficult for employees to find new employment, especially if they have specialized skills that are not in high demand.
In addition, the laying off of employees can negatively impact the morale and productivity of the remaining employees who may be fearful of losing their jobs as well, leading to a toxic work environment.
While companies have a responsibility to their shareholders to maximize profits, they also have a responsibility to their employees and the broader community to act ethically and consider the impacts of their actions beyond just financial gain. This is why, even if it may be legal, I believe that laying off a significant number of employees solely to increase profits is wrong.
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Building, maintaining and strengthening beneficial relationships with suppliers and customers is accomplished through the use of: a. External process integration b. Data warehouses c. Expediting d. All of these choices are correct.
Building, maintaining and strengthening beneficial relationships with suppliers and customers is accomplished through the use of: a. External process integration.
External process integration can be defined as the process in which suppliers build and maintain a long lasting relationship with their customers.
External process integration is important as it enables suppliers to improve the quality of services rendered to their customers and it as well help them to save cost and time.
Inconclusion Building, maintaining and strengthening beneficial relationships is accomplished through the use of: a. External process integration.
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You have just been promoted at your job, and now you have a net income of $2,190. You would like to use this income to meet new financial goals. 1. Create a budget that will allow you to save at least $100 by the end of October. (10 points) Remember, your old budget reflected a net income of $1850.00 and included these expenses: • $600 for your rent • $475 for your car payment, car insurance, and gas • $230 for your utilities, phone, and Internet • $300 for your groceries • $50 for your entertainment • $20 for your renters insurance • $75 for discretionary spending • A final net total of $100 saved per month Your new budget needs to include these changes: • A new line to budget $50 per month toward a new computer • Other expenses may be modified as you choose. • A final net total of at least $300 saved per month
Answer: $300 saved per month
Explanation:
new budget $2,190.
rent $650car, insurance and gas $480utilities, phone and internet $250groceries $300entertainment $50rentals $30discretionary spending $80new line budget $50total $1890
final net total = \(2190 - 1890\\\)
= $300 saved per month
it say we need to save at least $300 per month, what this implies is that the minimum we can save is $300.
Answer:
300 per month saved
Explanation:
List five internal factors that influence a sales forecast.
Answer:
The internal factors such as plant capacity, quality, price, advertisement policy, resources, etc., of the enterprise affect the sales forecasting of the enterprise.
Explanation:
These factors can very well be controlled by the business enterprise itself.
Sylvester is 57 and his company is downsizing. He knows that his position is one that will be cut so he has started to prepare his resume to look for a new job. Hunter tells him not to bother, as he will not get another job, at least not one that is equivalent to his current job. He tells Sylvester that things have changed since Sylvester went to college and that he couldn’t realistically offer too much in the workforce today. Hunter is demonstrating a(n)
Answer:Age Stereotype
Explanation:
refer to the table below. if the firm produces 5 units that it sells for $39.00 each, what will its profits or losses equal?
Correct reply is profits equal 40.
Whatever the firm's volume of production, whole revenue have to exceed complete expenses if it is to earn a profit. As explored in the part Choice in a World of Scarcity of the Introduction to Economics and Scarcity module, constant expenses are regularly sunk fees that cannot be recouped.
What is the profit-maximizing rule for the association produce the place output is maximized maximize income minimize expenses produce till Mr MC?The profit-maximizing preference for the monopoly will be to produce at the extent the place marginal revenue is equal to marginal cost: that is, MR = MC. If the monopoly produces a lower quantity, then MR > MC at those tiers of output, and the company can make higher profits by means of expanding output.
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https://brainly.com/question/15410678#SPJ1Given 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.
What percent is the gig economy is expected to grow to by 2020?
A. 25
B. 50
C. 60
D. 75
Answer: 50
Explanation: good luck
If+rudy+has+a+25%+tax+rate+and+a+6%+after-tax+rate+of+return,+a+$30,000+tax+deduction+in+four+years+will+save+how+much+tax+in+today's+dollars?
A $30,000 tax deduction in four years will save Rudy $7,500 in today's dollars.
First, we need to calculate the present value of the tax deduction. This is done by discounting the future value of the deduction by the after-tax rate of return. In this case, the future value of the deduction is $30,000, and the after-tax rate of return is 6%. So, the present value of the deduction is:
$30,000 / (1 + 0.06)^4 = $22,537
Next, we need to multiply the present value of the deduction by Rudy's tax rate to get the total amount of tax saved. In this case, Rudy's tax rate is 25%, so the total amount of tax saved is:
$22,537 * 0.25 = $5,634
Therefore, a $30,000 tax deduction in four years will save Rudy $5,634 in today's dollars. This is because the present value of the deduction is $22,537, and Rudy's tax rate is 25%.
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uppose peru decides to increase its production of emeralds by 2. what is the opportunity cost of this decision? a. 40 rubies b. 60 rubies c. 30 rubies d. 120 rubies
The opportunity cost of increasing emerald production by 2 units is the value of the best alternative foregone. Without additional information, we cannot determine the opportunity cost accurately.
However, if we assume that the production of emeralds and rubies requires similar resources and that Peru was previously producing emeralds and rubies in equal proportions, then the opportunity cost of increasing emerald production by 2 units would be 60 rubies (since the production of each emerald costs 30 rubies). Therefore, the answer is (b) 60 rubies.
It's important to note that opportunity cost varies depending on the specific circumstances, and without additional information, it's impossible to determine the opportunity cost accurately.
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Why would a bank want to know your credit history for a loan?
Answer:
To confirm whether you have a good or bad credit risk.
Explanation:
Banks checks credit history to determine whether a loan be granted for a number of reasons, one of which is to confirm good or bad credit risk.
A credit history shows the record of credit usage , including the amount borrowed, how often repayment is made and what type of credit was requested.
Banks uses credit report from any of the three approved credit reporting agencies to check history of the credit hence determines the basis for approval or rejection of new loan being sought for.
Rumba Dance Hall has offered to buy from Muy Bueno Bakery 100 of its chocolate cakes for $26 each. No variable selling costs would need to be paid, but special packaging of $140 will have to be added. Normally, Muy Bueno sells its cakes at $36 each. Its costs per cake are materials, $11; direct labor, $8; variable factory overhead, $2; fixed factory overhead, $3; and variable selling costs, $3. How much differential profit or loss will Muy Bueno make if it accepts this offer
Answer:
differential profit = $360
Explanation:
total variable production costs:
materials $11 x 100 = $1,100
direct labor $8 x 100 = $800
variable overhead $2 x 100 = $200
total = $2,100
+
special packaging $140
= total costs $2,240
differential profit = $2,600 - $2,240 = $360
"take hundred now is more valuable than take hundred after one year" explain it
Answer:
Today's dollar is worth more than tomorrow's because of inflation (on the side that's unfortunate for you) and compound interest (the side you can make work for you). Inflation increases prices over time, which means that each dollar you own today will buy more in the present time than it will in the future.