Question Content Area A business issued a 30-day, 7% note for $42,000 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. If an amount box does not require an entry, leave it blank or enter 0. When required, round your answers to the nearest dollar
Answers
(a) Debit: Notes Receivable $42,000 Credit: Accounts Payable $42,000 (b) Debit: Notes Receivable $43,430 and Interest Receivable $430 Credit: Cash $42,000 and Interest Revenue $430.
To journalize the entries for the issuance of a 30-day, 7% note for $42,000 and the payment of the note at maturity, including interest, follow these:
1: Calculate the interest on the note.
Interest = Principal x Rate x Time
Interest = $42,000 x 7% x (30/360)
Interest = $42,000 x 0.07 x (1/12)
Interest = $42,000 x 0.07 x 0.0833
Interest = $245 (rounded to the nearest dollar)
2: Journalize the issuance of the note (a).
Debit: Accounts Payable (Creditor) $42,000
Credit: Notes Payable $42,000
3: Journalize the payment of the note at maturity, including interest (b).
Debit: Notes Payable $42,000
Debit: Interest Expense $245
Credit: Cash $42,245
To summarize:
(a) The issuance of the note is recorded by debiting Accounts Payable for $42,000 and crediting Notes Payable for $42,000.
(b) The payment of the note at maturity, including interest, is recorded by debiting Notes Payable for $42,000, debiting Interest Expense for $245, and crediting Cash for $42,245.
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Related Questions
Last year there were 6 pizza shops in town. this year there are only 4. other things equal, the decrease in the number of suppliers will
a) cause the market supply curve to shift to the right.
B. have no impact on the market supply as long as the long as the demand for pizza remains strong.
C) increase the market demand for pizza.
D) cause a decrease in the quantity supplied at each price.
Answers
The decrease in the number of suppliers will cause a decrease in the quantity supplied at each price. Hence, option D is the correct answer.
The decrease in the number of pizza shops from 6 to 4 implies that there are now fewer suppliers in the market. With other things equal, this reduction in the number of suppliers will lead to a decrease in the quantity supplied at each price.
The market supply curve represents the aggregate of individual supply curves, and a decrease in the number of suppliers means there is less overall quantity available for supply in the market.
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What are the critical issues for monetary policy faced by PICs?Explain how innovations in financial markets have made monetary policy more challenging for these countries. Discuss the IMF support (if any) received by the Central Banks in the region to deal with these issues.
Answers
The critical issues for monetary policy in PICs include maintaining price stability and balancing economic growth and financial stability.
The Pacific Island Countries (PICs) face several critical issues for monetary policy. One key challenge is maintaining price stability in the face of external shocks, such as changes in commodity prices and natural disasters, which can lead to inflationary pressures. PICs also need to balance the objectives of promoting economic growth, employment, and financial stability.
Innovations in financial markets have added complexity to monetary policy in PICs. The increasing integration of global financial markets has made these countries more exposed to external shocks, such as volatile capital flows and exchange rate fluctuations. Moreover, the development of new financial instruments and technologies has made it harder for central banks to monitor and regulate financial activities effectively.
The International Monetary Fund (IMF) has provided support to central banks in the region to address these challenges. The IMF offers policy advice, technical assistance, and financial assistance programs to help strengthen the capacity of central banks in formulating and implementing effective monetary policies.
These programs aim to enhance the PICs' monetary frameworks, improve the regulation and supervision of financial systems, and build resilience to external shocks.
The IMF also assists in conducting macroeconomic surveillance and assessment of monetary policy frameworks in PICs. Through dialogue and collaboration, the IMF and central banks work together to identify policy priorities, address vulnerabilities, and implement reforms to strengthen monetary policy effectiveness and financial stability in the region.
Overall, the support provided by the IMF plays a crucial role in assisting PICs in navigating the challenges posed by innovations in financial markets and formulating appropriate monetary policy responses to promote sustainable economic growth and stability.
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Suppose the current exchange rate and three-month expected rate for the yen are ¥114.37 and
¥113.89, respectively.
a. Is the yen expected to get stronger or weaker?
b. What would you estimate is the difference between the annual inflation rates of the United
States and Japan?
Useful formulas: E(St) = S0 × [1 + (hFC – hUS)]t
Answers
a. The yen is expected to get stronger. This is because the expected exchange rate (¥113.89) is lower than the current exchange rate (¥114.37). A lower exchange rate indicates that it will take fewer yen to buy one unit of the foreign currency (in this case, the U.S. dollar), implying a stronger yen.
b. To estimate the difference between the annual inflation rates of the United States and Japan, we can use the formula:
E(St) = S0 × [1 + (hFC – hUS)]t
Where:
E(St) = Expected exchange rate at time t
S0 = Current exchange rate
hFC = Annual inflation rate of the foreign country (Japan)
hUS = Annual inflation rate of the United States
t = Time period (in this case, 3 months)
Given that the current exchange rate (S0) is ¥114.37 and the expected exchange rate (E(St)) is ¥113.89, we can rearrange the formula to solve for the difference in inflation rates:
E(St) / S0 = [1 + (hFC – hUS)]t
[1 + (hFC – hUS)] = (E(St) / S0)^(1/t)
(hFC – hUS) = (E(St) / S0)^(1/t) - 1
Substituting the given values:
(hFC – hUS) = (¥113.89 / ¥114.37)^(1/3) - 1
≈ 0.9976 - 1
≈ -0.0024
The estimated difference between the annual inflation rates of the United States and Japan is approximately -0.24% (or -0.0024 in decimal form). This implies that the annual inflation rate in Japan is expected to be slightly lower than in the United States.
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Question:What is the main causes of a change in quantity demanded?Demand:Competition and technology can revolutionize the way a product or service is delivered and can cause the price for a product to fall as it becomes profitable at lower prices to make the product. The change is supply can rise in the event of a natural disaster or a government trade war can make the prices rise to reflect a greater scarcity in supply than beforehand.
Answers
A change in the exact quantity of a product that customers are willing and able to purchase is referred to as a shift in the quantity demanded. A change in pricing is what led to this shift in the quantity demanded.
What is the main cause of a change in quantity demanded?Demand: A product's price may drop when it becomes more profitable to produce the product at lower prices as a result of competition and technology, which may also alter the way a good or service is delivered.
In the event of a natural disaster or a government trade war, supply may increase, causing prices to increase to reflect a higher shortage in supply than before.
An entire demand curve might shift right or left due to changes in variables like average income and preferences. As a result, the quantity demanded at a given price can be larger or lower. The prevailing view presumption. Assuming no other parameters change, demand curves link the prices and quantities required.
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You have established a new business in your neighbourhood
Explain how you would use power relationships to benefit your business
Answers
Answer:As a small-business owner, one of the most effective ways for you to compete ... Then plot them on a zip code map (easily found in most phone books). ... Understanding the importance of your marketing area will also help you ...
what market segment is benihana targeting
Answers
Benihana is targeting the market segment of diners who are looking for a unique and entertaining dining experience.
This includes individuals and families who are looking for a fun and interactive meal, as well as corporate groups and parties looking for a unique event space. Benihana's focus on teppanyaki-style cooking and live entertainment sets it apart from traditional restaurants, and appeals to a specific market segment of diners who are looking for a memorable dining experience.
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Question #2: Why should we simplify expressions in algebra Using race
Answers
Answer:
Why should we simplify expressions in algebra Using race?
Learning how to simplify an expression is the most important step in understanding and mastering algebra. Simplification of expressions is a handy mathematics skill because it allows us to change complex or awkward expressions into simpler and compact forms.
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Rick has a great idea about a new product to sell. He needs
money to get started building his brand. What type of loan does
he need?
A. Mortgage
B. Business
C. Home equity
D. Auto
Answers
Why did Poland make the transition from dictatorship to democracy
Answers
The current situation in Poland is seen as a strategic contest between the administration and the opposition. The transition is envisioned as a series of deliberate choices about political configurations.
When did Poland transition to democracy?The current situation in Poland is seen as a strategic contest between the administration and the opposition. The transition is envisioned as a series of deliberate choices about political configurations.
Poland experienced three of these regimes in the 1980s: a strict dictatorship, a broader dictatorship, and a democracy. Every single one can be thought of as a game-theoretic equilibrium. A change from one equilibrium to another is used to explain the transition between two political regimes. These changes happened as a result of shifting incentives for the government and the opposition brought about by a declining likelihood of Soviet intervention.
Therefore, Poland makes the transition from dictatorship to democracy.
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Sort the scenarios below according to whether or not they describe a negative externality. An example of a negative externality _________________________________
Not an example of a negative externality _____________________________________
- A donut shop emits a delicious smell into the air as a by-product of production. - A factory emits pollution into the atmosphere as a by-product of production. - A neighbor plays loud music that annoys the surrounding community. - A person smokes a cigarette and imposes secondhand smoke on others. - A person with no allergies that gets a mosquito bite from a disease-free mosquito. - A person who lives alone buys a DVD, but finds the movie unenjoyable - A person gets a flu-shot and is therefore less likely to spread illness to others.
Answers
The statement which is an example of a negative externality is
A factory emits pollution into the atmosphere as a by-product of production.A neighbor plays loud music that annoys the surrounding community, option B and C.Negative externalities happen when the item as well as utilization of a decent or administration applies an adverse consequence on an outsider free of the exchange. A consumer and a producer are the two parties involved in a typical transaction, and they are referred to as the first and second parties in the transaction, respectively. A third party is any other party that is not involved in the transaction.
Negative externalities ordinarily influence public assets where considering parties responsible, for example, for a situation of natural pollution is troublesome. Consumers or producers can create a negative externality without risking legal action or monetary penalties.
For instance, the oceans are a public good and no one owns any rights to them. Ships and boats can pollute the sea without regulations, affecting other users of the ocean like fishermen, who rely on clean, productive ocean water for their livelihood.
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question number 4) according to mark brownstein, how are marketers like a novelist, poet, or playwright?
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Marketers are like novelists, poets, or playwrights because they all tell stories. The difference is that marketers tell stories with a specific purpose in mind. Marketers tell stories to sell products, services, or ideas to people. They use storytelling to create a connection with their audience and make them feel something. Like a novelist, marketer creates a story that will resonate with their target audience.
They take their audience on a journey, introduce characters, and create a conflict. They build tension, create a resolution, and leave the audience with a message. Marketers use storytelling to influence people's behavior and persuade them to take action.
Marketers use storytelling to make their brand more appealing to their target audience. They create a narrative that is aligned with their brand values and vision. The story of their brand becomes part of the customer's story. When customers connect with a brand story, they become more loyal to that brand. It's the same way a reader becomes loyal to an author they enjoy reading. Marketers need to be creative in the way they tell their stories. They need to know their audience and understand what kind of stories will resonate with them.
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If washburn guitars were to lower the price of the maya pro dd75 to $2,499 from $2,699, sales of the guitar would increase 30 percent. This illustrates.
Answers
The Washburn guitars reduces their price from $2,499 to $2,699 as a result of the sales of the product drastically increased by 30%, So this represents that the product has an elastic demand.
What do you mean by elastic demand?When the price of a product has a massive effect on the quantity purchased is called Elastic demand. A product is stated to have an elastic demand if sales drop sharply in reaction to a growth in price, or sales spike whilst prices are decreased.
Thus, The Washburn guitars reduces their price from $2,499 to $2,699 as a result of the sales of the product drastically increased by 30%, So this represents that the product has an elastic demand.
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Upload your completed Lifestyle Budget Project worksheet.
Answers
Answer:Budget is a financial statements indicating estimated and sizes of anticipated revenue and proposed expenditure for a period of time.
The personal budget of an individual could be a surplus budget or deficit budget, or balance budget. It is surplus when income is greater than expenditure. It is deficit when expenditure is greater than revenue, it is balance when income is equal to the expenditure.
In a situation where the income is not enough to cover the expenditure the person can cut down most of the expenses to a manageable size, so as to ensure that there is more money to meet the most pressing need at the point in time.
Explanation:
Anne is analyzing two mutually exclusive projects of similar size. Both projects have 10-year lives. Project A has a NPV of $215,027, a payback period of 6.12 years, an IRR of 15.85 percent, and a cost of capital of 13.0 percent. Project B has an NPV of $210,945, a payback period of 5.55 years, and IRR of 17.6 percent, and a cost of capital of 12.5 percent. Anne can afford to fund either project, but not both. She should accept:
Answers
Anne should carefully assess her objectives and make a decision based on her individual circumstances.
To determine which project Anne should accept, we need to consider various criteria such as net present value (NPV), payback period, internal rate of return (IRR), and the cost of capital.
NPV: Both projects have positive NPVs, indicating that they are expected to generate value. Project A has an NPV of $215,027, while Project B has an NPV of $210,945.
Payback period: Project A has a payback period of 6.12 years, while Project B has a shorter payback period of 5.55 years. A shorter payback period indicates faster recovery of the initial investment.
IRR: Project A has an IRR of 15.85 percent, and Project B has a higher IRR of 17.6 percent. A higher IRR indicates a higher rate of return.
Cost of capital: Project A has a cost of capital of 13.0 percent, and Project B has a lower cost of capital of 12.5 percent. A lower cost of capital indicates lower required returns.
Based on these criteria, there is no clear-cut answer as to which project Anne should accept. It ultimately depends on Anne's specific preferences, risk tolerance, and overall investment strategy.
If Anne prioritizes higher IRR and a shorter payback period, she may lean towards Project B.
On the other hand, if Anne values higher NPV and a slightly lower cost of capital, Project A may be more appealing.
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52. The greatest advantage of using a credit card is that it provides
A. An easy way to establish a personal credit history.
B. An easy way to avoid going into debt.
C. A less expensive way to pay for college.
D. A safe way to improve one's credit score.
Answers
The greatest advantage of using a credit card is that it provides a safe way to improve one's credit score. Option D
What is a credit card score?A credit score is a three-digit figure that lenders use to determine how hazardous lending money to someone is. A good credit score indicates that a person is a low-risk borrower, which may result in cheaper loan interest rates in the future.
A poor credit score indicates a high-risk borrower, which may result in higher interest rates and less favorable loan terms.
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the company uses a periodic inventory system. determine the cost assigned to ending inventory using the specific identification method. ending inventory consists of 230 units from the april 16 purchase, 80 units from the april 7 purchase, and 100 units from beginning inventory.
Answers
In a periodic inventory system, the cost assigned to ending inventory using the specific identification method involves determining the cost of each individual unit that makes up the ending inventory.
To calculate the cost assigned to ending inventory, we need to consider the cost of the units from each purchase and the beginning inventory.
First, let's calculate the cost of the units from the April 16 purchase. We know there are 230 units from this purchase. Multiply this quantity by the cost per unit from the April 16 purchase to find the cost of these units.
Next, let's calculate the cost of the units from the April 7 purchase. We know there are 80 units from this purchase. Multiply this quantity by the cost per unit from the April 7 purchase to find the cost of these units.
Finally, let's calculate the cost of the units from the beginning inventory. We know there are 100 units from the beginning inventory. Multiply this quantity by the cost per unit from the beginning inventory to find the cost of these units.
After calculating the cost of the units from each purchase and the beginning inventory, sum up these costs to determine the total cost assigned to the ending inventory using the specific identification method.
Remember to include the cost of the units from the April 16 purchase, April 7 purchase, and beginning inventory to get the accurate total.
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A company code of ethics addresses things such as (check all that apply) multiple select question. sources of data inaccuracy calculation methods for statistical analysis conflicts of interest policies on confidentiality
Answers
A company's code of ethics covers issues including conflict of interest, confidentiality rules, and inaccurate data sources.
Who or what are codes of ethics?Professionals are expected to behave themselves in accordance with a code of ethics, which is a set of guiding principles. A document that includes the code of ethics may cover a variety of subjects, including the mission and core values of an organization or business, the professional standards required of them, the way in which professionals are to approach problems, and other topics.
A code of ethics also referred to as an "ethical code," can address issues like employee conduct guidelines, business ethics, and professional conduct norms.
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Investing activities are affected by changes in current liabilities. O changes in long-term assets. O changes in current assets. O changes in equity accounts.
Answers
Investing activities are not affected by changes in current liabilities. Instead, they are affected by changes in long-term assets. Investing activities is a section of the statement of cash flows that shows the cash inflows and outflows from purchasing and selling long-term assets like property, plant, and equipment. What are investing activities?
Investing activities involve the purchase and sale of long-term assets such as property, plant, and equipment. Investing activities also include buying and selling long-term investments, such as stocks and bonds, as well as lending money and collecting on the loans.
Investing activities are part of the statement of cash flows, which is one of the three main financial statements of a company.
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what is capital consumption
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How can public health decrease the economic impact on health care?
Answers
Answer:
First, healthier people are more economically productive. Better health also leads to an increase in savings rates—because healthier people expect to live longer and are naturally more concerned with their future financial needs. Another bridge between health and the economy is education.
Explanation:
a company's sales for the year were $549,650 and a credit to allowance for bad debt for $16,489.50 was made. based on this entry, what percentage of sales is considered uncollectible? 2.5% 3% 4% 3.5%
Answers
If a company's sales for the year were $549,650 and a credit to allowance for bad debt for $16,489.50 was made. based on this entry, the percentage of sales that is considered uncollectible is: B. 3%.
How to find the uncollectible sales percentage?Using this formula to find the uncollectible sales percentage
Uncollectible sales percentage = Credit allowance for bad debt / Sales for the year
Let plug in the formula
Uncollectible sales percentage = $16,489.50 / $549,650
Uncollectible sales percentage = 0.03 × 100
Uncollectible sales percentage = 3%
Therefore the correct option is B.
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Which of the following is not an example of an express warranty?
a. Providing a sample of the product
b. Sales talk
c. Package labeling
d. An express promise
Answers
Sales talk is not an example of an express warranty.
Express warranties are statements or promises made by the seller or manufacturer regarding the quality, performance, or characteristics of a product. They are specific representations about the product and can be created through various means.
Providing a sample of the product is an example of an express warranty. When a sample is given to the buyer, it serves as a representation of the product's quality or characteristics, and the buyer can expect the actual product to match the sample.
Package labeling is also an example of an express warranty. Labels on product packaging often provide information about the product's features, ingredients, usage instructions, and any specific claims or guarantees made by the manufacturer.
An express promise is another example of an express warranty. This can be a direct statement or assurance made by the seller or manufacturer regarding the product's performance, durability, or other qualities.
However, sales talk, option b, is not considered an express warranty. Sales talk refers to general statements or persuasive language used by salespeople to promote a product. While sales talk may influence a buyer's decision, it does not typically create a legally binding warranty or guarantee regarding the product's characteristics or performance.
In summary, sales talk is not an example of an express warranty, while providing a sample, package labeling, and an express promise are examples of express warranties.
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List three forms of Material Handling Equipment. Describe the
function and purpose of this equipment
Answers
One of the forms of material handling equipment is the industrial trucks, I will show you the other 2.
Material handling equipment is any type of machinery or tools that are used to move, store, or control materials in industrial and manufacturing settings. The three most common forms of material handling equipment are conveyors, cranes, and industrial trucks.
Conveyors: are machines used to move materials from one location to another. These machines can be used to move materials horizontally, vertically, and/or on an incline. Their purpose is to reduce manual labor and improve efficiency.Cranes: are machines used to move and lift heavy materials or items. They are used in construction, transportation, and manufacturing industries to safely and quickly move materials or items. Industrial Trucks: are vehicles used to transport materials or items in industrial or manufacturing settings. They come in different types, such as forklifts, pallet jacks, and platform trucks, which are used to transport different types of materials.Another question about equipment in https://brainly.com/question/22097711
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Imagine that you own a company and can publish just one page on
the web about your company. What would be necessary to include on
that page?
Once you have made your post, read and respond to at least
Answers
The necessary things that should be included on a one-page website about a company are; the company's name, a brief description of the company, its unique selling point, contact information, products, and services offered by the company, and customer testimonials.
As a company owner, there are certain essential things that you must include on a one-page website to ensure that visitors get a clear understanding of your company.
These things include the following:
1. The Company Name: This is the first thing that visitors should see when they access the page. It should be big, bold, and clear so that they know exactly whose website they are on.
2. A Brief Overview: Provide a brief description of your company, what it does, and what makes it unique. This information should be concise and to the point.
3. Contact Information: This should include your address, email, phone number, and social media handles if you have any. It allows visitors to get in touch with you easily.
4. Products and Services: If your company offers any products or services, this should be included on the page. A brief description of each product or service is enough.
5. Testimonials: Adding a few customer testimonials is an excellent way to showcase your company's credibility. Positive feedback from previous clients could help visitors build trust in your brand.
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Your conceptions of correct or incorrect behavior are called your
A. values
B. intents
C. actions
Datudes
Answers
Answer:
values
Explanation:
am not sure of the answer cause none of the options seem to answer the question given
Answer:
values
Explanation:
something that's important to you
An investment adviser representative has worked with a client and his spouse for 10 years and has an excellent relationship with the couple. The representative has been notified that the husband is unconscious and is in the hospital. The account has several open orders that have not yet been executed. What can the representative do regarding the disposition of these orders
Answers
what are some basic marketing strategies
Answers
Claim Your Business Online.
think positively.ALWAYS THINK POSITVE!!!
promote it n social media.
be loud to people to everybody be aware of your buisness.
Advertise Online.
HOPE this helps
take care have a good day
Click this link to view O*NET’s Work Activities section for Registered Nurses. Note that common activities are listed toward the top, and less common activities are listed toward the bottom. According to O*NET, what are some common work activities performed by Registered Nurses? Select four options.
communicating with supervisors, peers, or subordinates
making decisions and solving problems
repairing and maintaining mechanical equipment
drafting technical devices
assisting and caring for others
documenting/recording information
Answers
Some common work activities performed by Registered Nurses are:-
Making decisions and solving problems.Assisting and Nurses for others.Communicating with supervisors, peers, or subordinates.Drafting technical devices.Evaluating, Nurses watching, and conversing with patients keeping a record of the symptoms, medical history, and state of health of the patient. Patient Care preparation for examinations and treatment. administering medications and therapies, then keeping track of patients' reactions and negative effects.
Usually, Nurses EMTs and paramedics do the following tasks: Respond to 911 calls for emergency medical help, such as doing CPR or bandaging a care wound. Typically, bioengineers and biomedical engineers do the following tasks: Create tools and gadgets, such as synthetic internal organs, body part replacements.
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When we discuss the Evaluate phase in ACE, which question do you ask to evaluate effectiveness of your instructional visuals?
A) Answer 1: Do cues in the visual help perception of selection, organization, and integration?
B) Answer 2: Is the visual learner-friendly?
C) Answer 3: Have you weeded out the extraneous data?
Answer 4: All of the Above
Answers
The Evaluate phase in ACE as the all of the above question as the relevant to the asked the effectiveness of your instructional visuals. Thus, option (d) is correct.
What is visuals?
The term visuals refer to represent the data, charts, drawings, paintings, design and the other things as included. The visuals are the concluded, the details and the easily to find out.
The evaluation of the ACE as the instrumental visuals are the first question is the selection, organization, and integration of the relevant and the visual learner-friendly and the quickly, extraneous data. As the all of the above, the question to the included.
Therefore, option (d) is correct.
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just give me an answer
Answers
Answer:
First tell us your question
Soooo...
