Answers
It should also be noted that the entire concept of philanthropy and charity in general are tools of capitalism.
How charity contributes to capitalism?The money they give away is returned to them through the exploited labor of their employees. Furthermore, many of their charitable contributions are tax deductible, allowing them to reduce their tax burdens and thus protect their wealth.It is critical to invest in your community. When you donate to a charity that spends its funds locally, you help your own economy. The funds you provide are not used to pay executive salaries for a national charity, but are instead used locally.To summarize, charity is important because it helps to improve the quality of life for others, strengthen communities, and assist those in need. Furthermore, charity can aid in the spread of positive values.To learn more about capitalism refer to :
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Related Questions
If you have many competing financial goals, what should you do to help yourself focus on the most important ones?
A.
Get more unearned income.
B.
Prioritize and make a budget.
C.
Open a checking account.
D.
Diversify your investments.
Answers
Answer:
B.
Prioritize and make a budget.
For a corporation, direct investment from owners occurs when:
Answers
For a corporation, direct investment from owners occurs when there is an influx of capital to get equity shares
A corporation is an institution or organization that is made up of a group of people who come together and act as a single entity.
When there is a direct investment from owners of a corporation, then this means that there is an influx of capital to buy equity shares.
There are different ways of making a direct investment such as:
Buying sharesOpening a company in another country, etcTherefore, when a corporation makes a direct investment, then they are buying equity shares
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Search the library and the Internet for information pertaining to the ethical violation made by an organization, past or present, and be sure not to identify the organization. See if this incident has occurred in other organizations; give 2 examples and their outcomes. (OWN WORDS)
Answers
Legitimizations that are Substantial for the Association's Activities Business ethics issues length a great many subjects inside an association's ethical rules. Straightforward moral issues in business include empowering conduct that depends on genuineness and trust, however more complicated issues include obliging variety, humane navigation, consistence, and administration that is reliable with the association's fundamental standards.
Business ethics, typically alluded to as corporate morals, is a subset of applied morals or expert morals that resolves moral or moral issues that might come up in the work environment.
It is critical to the activities of the two individuals and whole organizations and is relevant to all features of business behavior.
People, authoritative declarations, or the overall set of laws all add genuineness to these morals.
These guidelines, goals, moral convictions, and untrustworthy conduct act as an organization' core values.
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When individuals sell their labor for wages, in which market in the circular flow
model are they interacting?
the open maket
the product market
the individual market
the factor market
Answers
When individuals sell their labor for wages, the market in the circular flow model they are interacting with is the factor market (fourth option).
What is the circular flow model ?The circular flow model is a model that is used to explain the flow of resources or money in an economy. In the circular flow model, it is assumed that there are only two actors in the economy - the household and businesses or corporations.
The circular flow model is a simplified model of the economy. This is because in an actual economy there are more than two actors operating in it.
The household own the factors of production and they sell it to businesses or corporations to earn dividends or wages. The factors of production can include labor, labor or capital. The factors of production are exchanged for wages in the factor market.
The businesses use the factors of production provided by the household to produce goods and services for consumption. The goods and services that are produced are sold in the product market. Households pay for the goods and services purchased using part of the income earned from renting out their factors of production.
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Analyze the role played by government, universities, and entrepreneuers in innovation
Answers
The role played by government, universities, and entrepreneurs in innovation contributes unique resources, expertise, and perspectives that foster innovation and propel economic growth.
Here is an analysis of the role played by each:
Government:Government plays a vital role in innovation through various means:
a. Funding and Support: Governments allocate funds to support research and development (R&D) activities, providing grants, subsidies, and tax incentives for innovative projects.
b. Policy and Regulation: Governments create an enabling environment for innovation by implementing policies and regulations that promote competition, protect intellectual property rights, and encourage entrepreneurship.
c. Infrastructure and Education: Governments invest in physical infrastructure, such as transportation and communication networks, which are essential for innovation.
Universities:Universities play a critical role in innovation through research, education, and collaboration:
a. Research and Development: Universities are centers of knowledge creation and innovation. They conduct research across various disciplines, pushing the boundaries of knowledge and discovering new technologies, processes, and solutions.
b. Talent Development: Universities educate and train students in diverse fields, equipping them with the skills and knowledge to contribute to innovation. They foster critical thinking, problem-solving abilities, and a culture of exploration and curiosity.
c. Technology Transfer: Universities facilitate the transfer of research outcomes and technologies to the commercial sector. They collaborate with entrepreneurs and industry partners to commercialize innovations through licensing agreements, spin-off companies, or joint ventures.
Entrepreneurs:Entrepreneurs are central to the process of innovation and play a key role in transforming ideas into marketable products or services:
a. Idea Generation: Entrepreneurs are often the initiators of innovative ideas. They identify opportunities, envision new products or services, and develop unique value propositions. Their entrepreneurial mindset drives them to challenge existing norms and seek novel solutions.
b. Risk-Taking and Investment: Entrepreneurs take on risks by investing their resources, time, and effort into developing and commercializing innovations. They secure funding from various sources, such as venture capital, angel investors, or government grants, to finance their ventures.
c. Market Adoption and Scaling: Entrepreneurs are responsible for bringing innovations to the market and driving their adoption. They navigate challenges such as market validation, customer acquisition, and scaling operations.
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Select the correct answer.
Diversity awareness is the ability to understand and respect other cultures. Which interpersonal skill might be affected by a lack of diversity
awareness?
ОА
teamwork
OB
time management
OC goal-setting
OD self-representation
Answers
Answer:
Teamwork
Explanation:
Review of the 15-inch HUAWEI MateBook D15 laptop
HUAWEI MateBook D 15 is one of the economical Huawei laptops that offers great features and capabilities in addition to its reasonable price. Features of the Matebook D15 include a modern processor, a quality display with thin edges, light weight and sleek design.
Design and weight
The MateBook D 15 is a lightweight and slim laptop. The thickness of this laptop is only 16.9 mm and weighing 1.53 kg, it is a light laptop with easy portability and use. This laptop, which is also very strong and durable, is available in two beautiful colors, silver and gray.
MateBook D 15 has a sleek design with a metal body and has a unique appearance with a beautiful FullView screen. Despite its light weight, the MateBook D 15 can be carried around and used anywhere.
Another notable feature of the MateBook D 15 is the built-in fingerprint sensor. With this security feature, you can easily and safely unlock the device or lock it to prevent unauthorized access.
https://huaweimobilefarsi.com/product/huawei-matebook-d15/
Answers
Answer:
https://youtu.be/v8Wj83YAcFY
huawei mate x 2 in my channel ↑↑
You decide to decrease the price of your product to increase total sales revenue, because you believe your product's demand is
A) perfectly inelastic
B) unit elastic
C) price elastic
D) price inelastic
Answers
Answer:
C) price elastic.
Explanation:
According to the above material, there exist large differences between economic growth rate using traditional expenditure approach and the satellite night-light data. How do you evaluate the night-light data method? and can you identify several reasons why there exists such differences?
Answers
The use of satellite night-light data as a method to evaluate economic growth has both strengths and limitations. Reasons for Differences between Traditional Expenditure Approach and Night-light Data: Informal Economy, Data Limitations, Urbanization Bias and Structural Changes.
Here is an evaluation of the night-light data method and several reasons for the differences observed between the traditional expenditure approach and the night-light data:
Evaluation of the Night-light Data Method:
Objective and Timely: Satellite night-light data provides an objective and timely measure of economic activity. Wide Coverage: Night-light data can cover large geographical areas, including remote and inaccessible regions. Granularity: The data can be analyzed at a fine-grained level, allowing for detailed spatial analysis of economic patterns. This can help identify pockets of growth and disparities within regions.Reasons for Differences between Traditional Expenditure Approach and Night-light Data:
Informal Economy: The traditional expenditure approach relies on official economic data, which may not fully capture the informal sector. Data Limitations: Night-light data has its limitations. It primarily measures economic activity related to lighting, which may not capture other dimensions of economic growth such as services or knowledge-based industries. Urbanization Bias: Night-light data tends to be more representative of urban areas with higher population density and greater access to electricity. Structural Changes: The traditional expenditure approach focuses on consumption and investment, while night-light data primarily captures the energy consumption associated with lighting.For such more question on economic:
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Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two
operating departments using different allocation bases. The following information is available for the current period:
office Expenses
Salaries
Depreciation
Advertising
Department
Drilling
Grinding
Total
Total
$ 56,000
35,000
69,000
Number of employees
1,600
2,400
4,000
The amount of salaries that should be allocated
Allocation Basis
Number of employees
Cost of goods sold
Percentage of total
sales
Sales
$.392,000
588,000
$ 980,000
Ginting for
Cost of goods sold
$ 144,400
235,600
$ 380,000
Answers
The total amount of office expenses allocated to the Drilling department is $43,166, option (b) is correct.
The allocation of office expenses to the Drilling department is based on the allocation bases provided in the problem, which are the number of employees and the cost of goods sold.
Salaries allocation rate = $42,000 ÷ 3,000 employees
= $14 per employee
Depreciation allocation rate = $22,000 ÷ $250,000 cost of goods sold
= 0.088 or 8.8% of the cost of goods sold
Advertising allocation rate = $45,000 ÷ $850,000 net sales
= 0.0529 or 5.29% of net sales
Using the allocation rates, the amount of office expenses allocated to the Drilling department is:
Salaries = 1,200 employees × $14 per employee
= $16,800
Depreciation = $95,000 cost of goods sold × 8.8% allocation rate
= $8,360
Advertising = $340,000 net sales × 5.29% allocation rate
= $18,006
Total amount = $16,800 + $8,360 + $18,006
= $43,166
Hence, option (b) is correct.
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The complete question is:
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to departments using different allocation bases. The following information is available for the current period.
The amount of the total office expenses that should be allocated to Drilling for the current period is:
a. $35,750
b. $43,166
c. $54,250
d. $90,000
What is economic term used for sustained increase in price of goods and sevices
Answers
The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.
What causes a product's price to rise?Demand-pull and cost-push are the two basic factors that produce inflation. Both contribute to an economy's overall price increase, although they exert pressure on prices in different ways. Demand-pull situations arise when consumer demand raises prices, whereas cost-push conditions occur when supply costs drive prices upward. When salaries increase, workers spend more (demand-pull inflation), which raises expenses for businesses (Cost-push inflation). Thus, inflation results. As a result, in the coming year, unions and employees will negotiate for more wage rises in order to maintain real salaries. Increased income disparities are a result of rising prices. Both producers and traders earn more money.
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Food taxes intended to shift consumption towards a healthier diet are controversial. Some people think that individuals should make their own choices, and if they prefer unhealthy products, the government should not interfere. In view of the fact that those who become ill will be cared for at some public expense, others argue that the government has a role in keeping people healthy.
Required:
In your own words, provide arguments for or against food taxes designed to encourage healthy eating.
Answers
Answer:
People dont wanna eat heathly
Explanation:
The terms Entrepreneur and Manager is used interchangeable and describes a person that which is a correct answer
a) Manages a small business
b) That starts up a small business
c) That starts up and manages a small business
d) All above statements are incorrect
Answers
The correct answer is d) All above statements are incorrect.
While an entrepreneur and a manager share some similarities in their roles within a business, they are not interchangeable terms. Each term represents a distinct role and set of responsibilities.
An entrepreneur is an individual who identifies opportunities, takes risks, and initiates the process of starting a new business venture. They are typically involved in the creation and development of the business idea, gathering resources, and making strategic decisions to bring the business concept to fruition.
On the other hand, a manager is responsible for overseeing and directing the day-to-day operations of a business. They focus on organizing resources, implementing plans, coordinating activities, and managing employees to achieve the organization's goals. Managers are typically appointed or hired to handle specific functions within an existing business.
Therefore, while an entrepreneur may start a small business, and a manager may be responsible for managing a small business, the terms "entrepreneur" and "manager" represent different roles and responsibilities within the business context.
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Easy points
What are two of the most popular games of their genre Also, list their sales il do one for you Gacha do the rest pls :)
Answers
Answer:
Genshin Impact is 2.1 billion only for play store
Fate of grand order 3 billion now it's over 4 billion at the date of 2020
Answer:
Explanation:
I would say League of Legends is the most popular multiplayer online battle arena game. It is free to play so there is no sales figure but the game made $1.75 billions in 2020.
Sam Smith is currently employed as a mechanical engineer and is paid $65,000
per year plus benefits thatare equal to 30% of his salary. Sam wants to begin a
consulting firm and decides to leave his current job. After his first year in
business, Sam's accountant informed him that he had made $45,000 with his
consulting business. Sam also notices that he paid $6,000 for a health
insurance policy, which was his total benefit during his first year. What was
Sam's opportunity cost?
What was Sam's opportunity cost?
Answers
Sam gave up $65,000 in salary plus $19,500 in benefits or a total of $84,500.
The concept in the back of opportunity value is that the fee of 1 object is the misplaced possibility to do or eat something else; in quick, opportunity cost is the price of the following fine alternative. benefits foregone by using no longer choosing an alternative direction of motion.
Opportunity cost is the cost of the following satisfactory element you surrender whenever you decide. it's miles the lack of capacity gained from other options when one opportunity is chosen. The concept of an opportunity price became first started by John Stuart Mill. possibility price is the difference in the advantage of a preference you are forgoing compared to the advantage of the choice you're making. you may recognize opportunity fee as an estimation of the way much regret you'll sense for making one desire over every other.
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QUESTION 4: PRICING Based on your knowledge of Pricing Strategies, recommend a pricing mix that has the best pricing mix ice Mix 1: • Price MX 2 se Sale Price: $19,500 id-tier Sale Price: $24,55 lly-Loaded Sale Price: 4,999 Price Mix 2: Base Sale Price: $20,000 Mid-tier Sale Price: $25,000 Fully-Loaded Sale Price: $30,000 Price Mix 3: Base Sale Price: $22,000 Mid-tier Sale Price: $24,00 Fully-Loaded Sale Price: $28,999
Answers
Price Mix 2 is recommended as the best pricing mix strategy. It includes three price tiers: a base sale price of $20,000, a mid-tier sale price of $25,000, and a fully-loaded sale price of $30,000.
The best pricing mix
This pricing mix caters to different customer segments by offering varying levels of features and benefits at different price points. It allows customers to choose a product based on their budget and desired features, increasing the likelihood of conversion and customer satisfaction.
The balanced pricing structure provides options for both price-sensitive customers and those willing to pay more for additional features. Overall, Price Mix 2 maximizes revenue potential by attracting a wider customer base and potentially facilitating upselling opportunities.
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Interventions strategies to prevent restrictions or barrier in small businesses townships
Answers
To prevent restrictions or barriers in small businesses in townships, several intervention strategies can be implemented:
1. Business Development Support: Offer training programs, workshops, and mentorship opportunities to help small business owners develop essential skills such as financial management, marketing, and business planning.
2. Access to Capital: Establish microfinance programs or low-interest loan schemes to provide small businesses with the necessary funds to start or expand their operations. Additionally, create partnerships with financial institutions to streamline the loan application process.
3. Infrastructure Improvement: Invest in upgrading township infrastructure, including roads, electricity, and internet connectivity. This will enhance the business environment, attract investors, and facilitate smoother operations for small businesses.
4. Regulatory Simplification: Simplify and streamline licensing and permit procedures, reducing bureaucracy and paperwork burdens. This will make it easier for entrepreneurs to start and operate businesses, fostering a favorable environment for small enterprises.
5. Market Linkages: Facilitate connections between small businesses and larger supply chains, enabling them to access wider markets and secure stable customer bases. This can be achieved through networking events, trade fairs, and partnerships with established businesses.
6. Local Procurement Policies: Encourage local governments and institutions to adopt procurement policies that prioritize purchasing goods and services from small businesses in the townships, thereby boosting their economic growth and sustainability.
7. Collaborative Initiatives: Foster collaboration among small businesses by establishing business associations, cooperatives, or incubation centers. These platforms can provide shared resources, collective marketing efforts, and a supportive community.
By implementing these intervention strategies, the barriers and restrictions faced by small businesses in townships can be minimized, promoting their growth, sustainability, and contribution to the local economy.
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Select the correct answer from each drop-down menu.
Which functions of management do manufacturing and service businesses use to maximize their operations?
Manufacturing and service businesses use the four management functions—planning,
,
, and controlling—to increase the productivity of their operations.
Answers
Answer:
organising and staffing
Explanation:
Answer:
Organizing and staffing
Explanation:
Plato/Edmentum
Workers in the Counseling and Mental Health Services pathway often study and use a specific field of knowledge to
assess and help improve a client's mental state. This field of study is called
O sociology
O statistics
O psychology
O rehabilitation
Answers
Answer:
Your answer is
C. Psychology
Explanation:
Psychology is the study of the mind, and Counselers and Mental Health Services help to improve the clients mental state by knowing the way of the mind.
Psychology is the study of the mind, and by understanding how the mind works, counsellors and mental health services can help their clients' mental health. Hence option C is correct .
What is Psychology ?The scientific study of the mind and behaviour is called psychology. The study of conscious and unconscious events, such as emotions and thoughts, is included in psychology.
neuroscience
It is a field of study that bridges the natural and social sciences and has a huge scope. Psychologists are interested in learning about the brain's emergent properties, which connects psychology to.
The first letter of the Greek word psyche, from which the term psychology is derived, is frequently associated with the science because psychologists seek to understand human behaviour as social scientists.
Professional researcher or practitioner who works in the field, also known as a psychologist. Some psychologists can be categorised as cognitive or behavioural scientists.
Some psychologists make an effort to comprehend how mental processes affect both individual and social behaviour. Others investigate the physiological and neurobiological mechanisms underlying the actions and behaviours of the brain.
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Discriminatory impulses in the labor market can emerge at a number of levels:
A. among managers.
B. among workers.
C. among customers.
D. all of the above.
Answers
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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Question 8 of 10
Financial statements are prepared near the end of the accounting cycle.
Which of the following is true?
A. A balance sheet shows the total assets, liabilities, and owner's
equity at the end of the period
B. An income statement shows the total assetsliabilities, and
owner's equity at the end of the period.
C. An income statement shows the changes in stockholder's capital
for the period
D. A balance sheer shows the changes in stockholder's capital for the
period
SUSMIT
Answers
Answer:
A. A balance sheet shows the total assets, liabilities, and owner's
equity at the end of the period
Explanation:
As we know that
The income statement recognized only the income earned and expenses incurred of an organization
While on the other hand the balance sheet shows the financial position, profitability of the company. It involves assets, liabilities and stockholder equity
So according to the given options, the option A is correct
hence, the rest of the options would be incorrect
Answer:
A. A balance sheet shows the total assets, liabilities, and owner's
equity at the end of the period
Explanation:
a p exz
Juan is a single taxpayer. He earned $45,000 in ordinary taxable income this year and has $10,000 in capital gains on an investment he held for 6 months. Using the tables, what tax rate will Juan pay on his investment income? A. 0% B. 10% C. 12% D. 15% E. 22%
Answers
Answer:
B. 10%
Explanation:
If Juan is a single taxpayer. The tax rate that Juan will pay on his investment income is :10%.
What is tax rate?Tax rate can be defined as the rate of percentage in which a person is taxed.
The tax rate that Juan will pay on his investment income is 10% reason being that his because he is single and his capital gain is $10,000 which is lesser that his taxable income.
Therefore the tax rate that Juan will pay on his investment income is : 10%.
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if paul bunyon lost his job because they buy chainsaws to replace him what type of unemployment is this?
Answers
Paul Bunyon losing his job as a lumberjack because the timber company he works for decided to just buy chainsaws ,shows structural unemployment.
What is structural unemployment?Structural unemployment is a type of involuntary unemployment caused by a mismatch between the skills available to workers in the economy and the skills required by employers. Structural unemployment is frequently caused by technological changes that render many workers' job skills obsolete.
Structural unemployment is long-lasting unemployment that comes about due to shifts in an economy.
As Paul was a lumberjack, and the company decides to buy chainsaws to replace him. This unemployment will be termed as structural unemployment.
Therefore, Paul Bunyon faces structural unemployment.
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Your question is incomplete, but most probably the full question was,
Paul Bunyan lost his job as a lumberjack because the timber company he works for decided to just buy chainsaws. What type of unemployment is this an example of?
How can apprenticeships become more popular in the United States?
A.The government can provide funding for apprenticeship programs.
B. Corporations can offer paid positions to workers who learn new skills while working toward full-time employment.
C.People who do not want to attend college but would prefer to learn a trade like welding can look into programs, organizations, or educational institutions offering apprenticeships.
D.All of the choices are correct.
Answers
Apprenticeships can become popular in the United States in the following ways:
D. All of the choices are correct.
What is an Apprenticeship?An apprenticeship is a compensated position that allows the person to study and gain useful experience. Apprenticeship is a method for educating a new generation of practitioners of a trade or profession through on-the-job training and, in certain cases, formal education (classroom work and reading). Apprenticeships can also help practitioners get a license to work in a regulated occupation. The majority of their training is completed while working for an employer who assists apprentices in learning their trade or profession in exchange for continuous labor for an agreed-upon term after they have demonstrated demonstrable competencies.
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What is a personal income tax
Answers
Answer:
Personal income tax is generally computed as the product of a tax rate times taxable income
Explanation:
Answer:
a personal income tax is a tax imposed on individuals or entities that varies with respective income or profits .
Explanation:
Income that people get from wage or salaries, your social security and other governmental benefits.
g An investment bank agrees to underwrite an issue of 5 million shares of stock for Longard Corp. (1). If the investment bank underwrites the stock on a firm commitment basis, it agrees to pay $15 per share to Longard Corp. for the 5 million shares of stock. It can then sell those shares to the public for $20 per share. How much money does Longard Corp. receive
Answers
Answer:
Longard Corp.
The money that Longard Corp. receives is:
= $75 million.
Explanation:
a) Data and Calculations:
Number of shares issued = 5 million
Investment bank underwriter pays per share to Longard Corp = $15
Stock price to the public = $20 per share
Total amount received from the underwriter = $75 million ($15 * 5 million)
b) The calculations show that the investment bank will eventually receive $100 million ($20 * 5 million) from the public offer. It then charges $5 per share (representing a total underwriting fee of $25 million). This is why it remits only $75 million to Longard Corp.
Which stakeholder register entry is inadequate
Answers
The stakeholder register entry is inadequate is a marketing leader.
Who is a stakeholder?A stakeholder is a party that has an interest in a company and can either affect or be affected by the business.
A marketing leader is not an adequate entry in a stakeholder register. There are situations in which communicating to people face-to-face is the best way to get something accomplished.
When conversing with emotionally charged people on a complex topic, communication over text or email can be cumbersome and ineffective.
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identify the type of data most watched televisionshow
Answers
Ellyn Kole is the assistant chief accountant at Doman Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million. It is the end of the first quarter. Ellyn is hurriedly trying to prepare a transaction analysis to assist her in preparing the financial statements. The total of the liabilities and owner's equity exceeds the total assets by $1,000. In order to meet the 4 pm deadline, Ellyn decides to force the transaction analysis into balance by adding the amount of the difference to the Equipment account. She chooses Equipment because it is one of the larger account balances; percentage-wise, it will be the least misstated. Ellyn "plugs" the difference! She believes that the difference will not affect anyone's decisions. She wishes that she had another few days to find the error but realizes that the final information is already late.
In your discussion posting address ALL questions but not limit to the following questions:
a. Who are the stakeholders in this situation?
b. What are the ethical issues involved in this case?
c. What are Ellyn's alternatives?
Answers
Answer and Explanation:
A. Stakeholders in the situation are:
1. Ellyn
2. The company
3. People using the financial statements
B. Ethical issues include:
1. Ellyn being dishonest by adding $1000 to the equipment asset and mistating the numerical value. This could cause loss as the $1000 could be from a liability account
C. Alternatives:
1. Creating a suspense account for the difference of $1000
2. Postponing finalisation and escalating the issue to a senior accountant to find out where the difference is from
a. The name of the stakeholders mentioned in the context are:
Ellyn The company People using the financial statements
b. Misstatement or the manipulation of the data records is the ethical issue that has been involved in the case mentioned over the context.
c. The final alternative that has been in the hand of Ellyn is to create the suspense account of the misstated amount and also extend the finalization date of the data.
a. The stakeholders are termed as the person who is also a member of the company and are included in the roles, operations, and functions of the company.
In this context, Ellyn, the company, and the People using the financial statements are the owners of the company and also the stakeholders of the company. these have purchased or invested in part of the company and have their part of share in the firm.
b. The ethical issues in the firm are termed as the issues that arose because of not following the laid norms of the firm.
In this context, Ellyn has misstated the amount of $1000 and decided to adjust it in the equipment account as it carries a high amount. This is the ethical issue of manipulation of the data.
c. The alternative that Ellyn has is she needs to adjust the difference amount in the suspense account that is created in order to adjust the unknown amount or the mistaken amount.
In order to get the time to correct the mistake of the data, she also has options to extend the date of the finalization of the data.
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