Answer:
Profit Motive
Explanation:
Profit is the monetary gain or commercial reward for engaging in business. Profits increase the wealth of the entrepreneur.
The primary reason why Businesses are established is to generate profits for the owners. Entrepreneurs commit their resources, time, and efforts to avail goods and services to society expecting to make profits. The desire to increase wealth through profits is what drives people to start a business.
2.2 List any TWO characteristics of public goods.
Answer:
non-excludable and Non-rivalrous
BIN enterprise engaged in the manufacturing of steel leased out its services Truck to visitors for three monthsat birr 18,000per month. Such incomes are referred as casual rental income by the tax expert of the authority. Required:
A. how much is the tax to be paid to tax authority?
B. who is liable to pay the tax to the tax Authority?
Suppose that unusually hot weather causes the demand curve for ice cream to shift to the right. Why
will the price of ice cream rise to a new market clearing level?
The price of the ice cream would lead to the new clearing ground due to the fact that increased demand would bring about the raise in price of the good.
How does demand cause price to increase?Although the impact on the equilibrium quantity cannot be determined, a rise in demand and a decrease in supply will result in an increase in the equilibrium price. 1. Consumers now place a higher value on goods, and producers must charge a higher price to offer the goods; as a result, prices will rise for all quantities.
According to the rule of supply and demand, prices are likely to increase when there is a greater demand than there is for an item or service. In these situations, suppliers frequently produce more in order to meet demand and seize margin possibilities.
When demand is constant, there is an inverse relationship between supply and prices of products and services.
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• Vitamins B and C are found in two different foods F1 and F2. One unit of food F1 contains 2 units of B and 3 units of vitamin C. one unit of food F2 contains 4 units of B and 2 units of vitamin C. one unit of food F1 and F2 costs $3 and $2.5 respectively. The minimum daily requirement (for a person) of vitamin B and C is 40 and 50 units respectively. Assuming that anything in excess of daily minimum requirement of vitamin B and C is not harmful. • Find out the optional mixture of food F1 and F2at the minimum cost which meets the daily minimum requirement of vitamins B and C. Formulate this as a linear programing problem.
The optional mixture with the lowest cost in linear programming is x,y 0.
What is Optional Mixture at Minimum Cost?The practice of combining different materials, such as concrete, sand, gravel, and other aggregates, to make a mixture that is more affordable than purchasing the individual components separately is known as optional combination at minimum cost. In order to conserve money, this kind of combination can be utilized in landscaping, road paving, and construction projects.
mathematically resolving this via linear programming;
Let x be the number of units of food F1 and y be the number of units of food F2.
Minimize cost: z = 3x+2.5y
Subject to:
2x + 4y ≥ 40 (minimum requirement of vitamin B)
3x + 2y ≥ 50 (minimum requirement of vitamin C)
x,y ≥ 0 (non-negative constraint)
The linear programing problem is:
Minimize z = 3x+2.5y
Subject to:
2x + 4y ≥ 40
3x + 2y ≥ 50
x,y ≥ 0
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A band sells shirts, CDs, and other merchandise online. They are using Excel to track sales by date and by name
of the buyer. They would like for any purchases over $50 to be highlighted automatically so that they can send a
special gift to those buyers.
Which is the best way to make Excel automatically highlight these sales?
Answer:
its 3
Explanation:
What is a commodity
Answer:
Something useful or valuable.
Explanation:
What is one benefit of declaring bankruptcy?
Answer:
puts a stop to many evictions, foreclosures, wage garnishments and utility shutoffs
W02_06.
is the popular name for a free-market economy in which business people make most of the
decisions about what products to produce, how many workers to hire, and what prices to charge for goods
and services.
Select one:
a. Communism
b. Marginalism
ec. Capitalism
d. Socialism
Answer:
it is capitalism
Explanation:
This is so becauae , capitalism is a free market economy where the individual business people do most in the economy by deciding what to produce , workers to hire etc than the government
Ethical decision-making is comprised of individual and environmental factors which can influence decision outcomes. Which factor would you say has the greater influence on your ethical decision-making process and why?
Answer:
Ethical decision making The factors that most impact ethical decision making is the individual factors. Individual factors include personal and moral philosophy, stage of moral development, motivation, experiences, age, and gender.
explain business activities and classification ?
Answer:
Business activities may broadly be classified into two categories namely (A) Industry and (B) Commerce. Industry involves production of goods and services whereas commerce is concerned with the distribution of goods and services.
Explanation:
hope helps
Explanation:
Business is the buying, selling & exchange of goods & services for-profit service or motive is commonly known as business. The term business is derived from the word ‘busy’. In a specific sense, business activities refer to any occupation in which people regularly engage in an activity with a view to earning the profit. Let us take a look at the classification of business activities.
Classification of Business Activities
Into two broad categories, various business activities can be classified-
Industry
Commerce
Industry
The sector where raw material gets converted into useful products is called industry. Activities related to production & processing as well as activities related to rearing & reproduction of animals or other living species are all included in the industry. The purpose of industry is to create form utility by converting raw materials into useful forms of finished products.
An industry may produce consumer goods or capital goods. Goods such as bread, butter, cloth, radio, etc. are consumer goods. These goods are directly used by the consumer. Goods such as machinery, cement etc. are called capital goods as these are used further in the production process to make useful products.
Commerce
We can refer to commerce as all those activities which help directly or indirectly in the distribution of goods to the ultimate consumer. There will be no use of producing goods unless & until these goods reach the ultimate consumer. Goods are produced at one place & consumers are scattered at different places. Commerce can be classified into two broad categories:
Trade
Aids to trade
Trade
Trade is an integral part of commerce. It includes buying & selling of goods & services. The trade segment of commerce brings together the manufacturer & the consumer, i.e. it is a link between the manufacturer & the consumer.
Trade can be classified into two types:
Internal trade: It refers to buying & selling of goods or services within the geographical boundaries of a country. It is also known as home trade or domestic trade. Under internal trade, goods & services are bought & sold in the home currency only. The internal trade can be two types:
Wholesale trade
Retail trade
External trade: When the buying & selling of goods & services is beyond the geographical limits of the country it is called external trade. It is also known as trade between two or more countries. In external trade, the market is very wide. External trade is of the following types:
Export trade
Import trade
Entrepot trade
Aids to Trade
A financial statement audit report issued for the audit of an issuer (public) company concludes that the financial statements follow
In all material respects and are fairly presented in accordance with generally accepted accounting principles (GAAP). An opinion section, a section outlining the evidence supporting the opinion.
How can it be explained in detail?The audit report's opinion section, which summarises the auditor's assessment of the financial statements, is its most crucial section. If the auditor finds that the financial statements are fairly presented and presented in accordance with GAAP, the report will include an unqualified opinion. This indicates that the auditor did not discover any significant errors in the financial statements and that they fairly and accurately reflect the financial position and operating results of the company.
The scope and nature of the audit, as well as any process restrictions, are described in the basis for opinion section. Any significant issues that the auditor thinks the reader should be made aware of may be highlighted in the emphasis of matter section.
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Self-disclosure is considered a major theme of interpersonal relations because
what is the financial definition for bond? write in your own words.
Answer:
Bond
Explanation:
It would be like a loan given to a place, government, company, etc. that pays the people (investors) pay a rate of return over a specific timeframe.
Why do you
think it's easier to forget entrepreneurship than labor or capital?
Entrepreneurship is much less tangible than other factors of production capital, that is why it's far more hard to discover.
Entrepreneurship is the assignment of latest business ventures that could eventually become profitable agencies. Some economists identify entrepreneurship as a factor of production due to the fact it is able to boom the effective performance of a company. Land refers to herbal resources, exertions refers to work attempt, and capital is anything made that is used to make something else. The final aid, entrepreneurship, refers to the capability to place the opposite 3 sources together to create capital.
Labor refers to all salary-incomes activities, including the work of specialists, retail workers, and so forth. Entrepreneurship refers back to the projects taken by way of entrepreneurs, who commonly begin as the first people in their firms after which regularly appoint different elements of production to grow their organizations.
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A manager paid on a salary basis
Group of answer choices
Exempt
Nonexempt
Minimum wage
Option (c), A supervisor who is compensated on a salary basis with minimum wage.
What is the bare minimum wage that may be earned in a job?The minimum wage is the lowest amount of money that an employer is required to pay wage earners for work completed within a specific time period and that is not subject to negotiation in a collective bargaining agreement or a contract between two parties.
What do wages and salaries signify in compensation management?Wage and salary management is the procedure of deciding on pay and payment structures and levels in corporate environments. The difference between wages and salaries is that salaries are equal payments that are specified in weekly, monthly, or yearly rates, whereas wages are remuneration for labor services that are often provided and are expressed as hourly rates.
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What can Lena do to avoid the risk of having short supplies in times of need?
Lena works in an artificial jewelry-manufacturing unit. It is a family run business, and they have been depending on a single supplier for years.
As Lena is a proactive person, she can avoid the risk of being in short supplies of raw material by keeping a _______ supplier for every one main supplier.
Answer:
Backup
Explanation:
Answer:
Backup
Explanation:
Correct on Plato
Kroger sells a variety of products such as cookies, meat, bread, shampoo, and much more. All the items the stores sells is called it?
A-product depth
B-product lines
C-product categories
D-product mix
Answer:
C. Product Categories
Explanation:
The items that includes cookies, meat, bread, shampoo which are sold by the store is called a product categories.
What is a product categories?This refers to categorization of a store goods and sometimes involves the type of product or service they offers.
Therefore, the Option C is correct.
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Please answer the questions in the photo. Do not copy and paste from the internet.
2. Businesses that market goods and services can be classified based on the types of products or services they offer. Here are some common classifications:
The businesses that would market goods and servicesConsumer goods: These are goods that are bought and used by individuals for their personal use. Examples include clothing, food, electronics, and household items. Businesses that sell consumer goods are often referred to as retailers, and they can be further classified based on the types of products they sell (e.g. clothing retailers, grocery stores, electronics stores).
Business-to-business (B2B): These are businesses that sell products or services to other businesses rather than to consumers. Examples include suppliers of raw materials, manufacturers of components, and consulting firms. B2B businesses can also be classified based on the types of products or services they offer (e.g. IT services, logistics companies, marketing agencies).
Service businesses: These are businesses that provide services rather than physical goods. Examples include healthcare providers, hairdressers, financial advisors, and consulting firms. Service businesses can be further classified based on the types of services they provide (e.g. healthcare services, professional services, personal services).
There are several types of retail businesses, each with its own advantages and disadvantages. Here are some examples:
Brick-and-mortar stores: These are traditional physical stores that customers visit to make purchases. Brick-and-mortar stores offer the advantage of providing a tactile and personal shopping experience, but they also require significant overhead costs (e.g. rent, utilities, inventory management).
Online retailers: These are businesses that sell products exclusively online, often through e-commerce platforms like Amazon or Shopify. Online retailers offer the advantage of lower overhead costs and a wider potential customer base, but they also face fierce competition and the need to constantly optimize their digital marketing efforts.
Pop-up shops: These are temporary physical stores that are set up in a specific location for a limited time (e.g. a holiday season). Pop-up shops offer the advantage of providing a unique and time-limited shopping experience, but they also require significant planning and logistical coordination.
Franchise stores: These are retail stores that operate under the brand and business model of a larger franchise organization (e.g. McDonald's, 7-Eleven). Franchise stores offer the advantage of a proven business model and brand recognition, but they also require significant initial investment and ongoing franchise fees.
Ultimately, the type of retail business that would be most interesting to pursue depends on factors such as personal preferences, financial resources, and market opportunities. For example, someone who is passionate about fashion and has a limited budget might consider starting an online boutique, while someone who has significant financial resources and is interested in owning multiple locations might consider investing in a franchise business.
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What are the source documents used in making entries in the following subsidiary books?
(i) Purchases Day Book
(ii) Sales Day Book
(iii) Returns Inward Book
(iv) Returns Outward Book
(v) Cash Book
(vi) Petty Cash Book EESTE
(i) Purchases Day Book. ✅
(ii) Sales Day Book. ✅
(iii) Returns Inward Book.
(iv) Returns Outward Book.
(v) Cash Book. ✅
(vi) Petty Cash Book EESTE.
➥ I hope I have helped you, greetings!Atte: ღTheGirlSadღState the appropriate subsidiary book to record the following transactions:
Purchase of goods from RamPurchase of furniture in cashDepreciation on plant and machinerySale of goods for cashBad debts from DollyAns.
Purchases BookCash BookJournal properCash bookJournal properThanks for the points :^
Examine the fundamental causes of a nation’s business cycle fluctuations. Also, examine the relationship between total spending by government and consumers in a nation and the location of the countries’ GDP on the business cycle.
Answer:
1) Fundamental causes of a nation's business cycle fluctuations: The causes of business cycle fluctuations are economic growth and recession. The economy of a nation fluctuates within its business cycle by witnessing periods of expansion and periods of contraction, including those in-between. The fluctuations or changes are caused by forces of supply and demand, the movement of the gross domestic product or GDP, the availability of capital, and expectations about the future.
The business cycle is divided into four distinct segments: expansion, peak (or crisis point), contraction (recession), and trough (recovery period). But, the vital factors driving expansion and recession can be located in the economy's levels of production, prices, interest rates, income, and employment being experienced at any particular period.
2) A relationship can, therefore, be discerned between total spending by government and consumers and the location of the countries GDP on the business cycle. Total spending by government and consumers drives the gross domestic product and the supply and demand for goods and services. They are in turn driven by the availability of capital for spending and expectations about the future. When the government and consumers have more resources to spend as a result of low-interest rates, rising income, and availability of capital, the resulting productivity increases total GDP. Increasing GDP ensures economic expansion. Economic outlook affects spending. Expectations of a brighter future trigger economic buoyance, more spending, and increased GDP. On the other hand, lower GDP is caused by worrying economic outlook where spending is withheld because of envisaged future uncertainties.
This is why some economists believe that Governments and the general public can always spend their ways out of a recession. The implication is this, in order to end a recession, governments and individuals are advised to boost their spending in value-adding activities.
Explanation:
a) The Business cycle of a nation: The business cycle is also known as the economic cycle or trade cycle. It describes the downward and upward movement of gross domestic product (GDP) between periods of economic growth and recession.
b) Gross Domestic Product (GDP) is the value of finished goods and services made within a country during a specific period. GDP shows a country's economic activities in total. The measure is used to estimate the size of an economy and its growth rate. There are three ways to calculate GDP, using expenditures, production, or incomes.
One organization in the United States today that is exempt from antitrust laws is
the steel industry.
the automobile industry.
the oil industry.
professional baseball.
One organization in the United States today that stands exempt from antitrust laws exists Professional baseball .
What is Antitrust laws?Antitrust laws exist as statutes developed by governments to defend consumers from predatory business conventions and ensure fair competition. Antitrust laws exist involved in a wide scope of questionable business activities, including market allocation, bid rigging, price fixing, and monopolies.
The Sherman Act, legislated by Congress in 1890, stays the foundation for most of our nation's antitrust laws. It prohibits all agreements and conspiracies in control of trade and commerce. Most States have antitrust laws, and so does the Federal Government. These regulations prohibit business practices that unreasonably restrain consumers from the advantages of competition, resulting in higher prices for inferior products and services.
Antitrust laws also directed as competition laws exist as statutes developed by the U.S. government to protect consumers from predatory business practices. They provide that fair competition exists in an open-market economy.
Hence, One organization in the United States today that stands exempt from antitrust laws exists Professional baseball .
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Learn the necessary components of writing a business plan and write their own business plan.
Answer: Writing a business plan is an essential step in starting and running a successful business. A business plan outlines the company's goals, strategies, and resources required to achieve those goals. Below are the necessary components of a business plan:
Executive Summary: This section provides an overview of the business plan and highlights the main points of the plan. It should grab the reader's attention and convince them to read on.
Company Description: This section describes the company's history, ownership structure, products or services offered, target market, and competitive advantages.
Market Analysis: This section provides information about the industry, target market, competition, and market trends. It should demonstrate a thorough understanding of the market and opportunities for growth.
Organization and Management: This section outlines the management structure and key personnel of the company. It should demonstrate that the team has the necessary skills and experience to run the business successfully.
Service or Product Line: This section describes the products or services offered by the company in detail. It should include information about pricing, production, and distribution.
Marketing and Sales: This section outlines the marketing and sales strategies of the company. It should demonstrate how the company will reach and attract customers.
Funding Request: This section is only necessary if the company is seeking funding. It should include information about the funding required and how it will be used.
Financial Projections: This section provides financial projections for the company. It should include projected income statements, balance sheets, and cash flow statements.
Appendix: This section includes any additional information that is relevant to the business plan, such as resumes of key personnel, legal documents, or market research data.
To write your own business plan, you should follow the above components and do thorough research on your business idea, target market, and competition. You should also consult with experts in the field, such as lawyers, accountants, and business consultants, to ensure that your plan is realistic and achievable. Finally, your business plan should be reviewed and updated regularly to reflect changes in the market or the company's goals.
Explanation:
work i Troy Engines, Limited, manufactures a variety of engines for use in heavy equipment. The company has always necessary parts for its engines, including all of the carburetors. An outside supplier has offered to sell one type Engines, Limited, for a cost of $32 per unit. To evaluate this offer, Troy Engines, Limited, has gathered the follow to its own cost of producing the carburetor internally: 17,000 Units per Year $ 238,000 136,000 Variable manufacturing overhead 51,000 Fixed manufacturing overhead, traceable 51,000 Fixed manufacturing overhead, allocated 102,000 Total cost $34 $ 578,000 *One-third supervisory salaries; two-thirds depreciation of special equipment (no resale value). Direct materials Direct labor Per Unit $ 14 8 3 3* 6 Required: 1. Assuming the company has no alternative use for the facilities that are now being used to produce the carburet the financial advantage (disadvantage) of buying 17,000 carburetors from the outside supplier? 2. Should the outside supplier's offer be accepted? 3. Suppose that if the carburetors were purchased, Troy Engines, Limited, could use the freed capacity to launch a segment margin of the new product would be $170,000 per year. Given this new assumption, what would be the fi (disadvantage) of buying 17,000 carburetors from the outside supplier? 4. Given the new assumption in requirement 3, should the outside supplier's offer be accepted? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Saved Required 4 Assuming the company has no alternative use for the facilities that are now being used to produce the carburetors, what would be the financial advantage (disadvantage) of buying 17,000 carburetors from the outside supplier? Required 2 >
Buying carburetors from the outside supplier would give a financial advantage of $442,000. The outside suppliers offer should be accepted. Buying 17,000 carburetors from the outside supplier would give a financial disadvantage of $98,000. The outide suppliers offer should still be accepted.
How to determine the finanacial advantage of buying the carburetor1. Assuming the company has no other ue for it's facilities utilized to create carburetors, the financial advantage of buying 17,000 carburetors from the exterior provider would be $442,000 ($578,000 - $136,000).
2. Yes, the exterior supplier's offer ought to be acknowledged since it gives a financial advantage.
3. Considering the liberated capacity and the dispatch of an unused item with a section edge of $170,000 per year, the financial disadvantage of buying 17,000 carburetors from the exterior provider would be $98,000 ($442,000 - $170,000 - $274,000).
4. Given the unused presumption, the exterior supplier's offer ought to still be acknowledged in spite of the financial advantage
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A Juice Company has available two kinds of food Juices: Orange Juice and Grape Juice. The company produces two types of punches: Punch A and Punch B. One bottle of punch A requires 20 liters of Orange Juice and 5 liters of Grape Juice.1 Bottle of punch B requires 10 liters of Orange Juice and 15 liters of Grape Juice.
From each of bottle of Punch A a profit of $4 is made and from each bottle of Punch B a profit of $3 is made .Suppose that the company has 230 liters of Orange Juice and 120 liters of Grape Juice available.
Required:
A, Formulate this problem as a LPP
B, How many bottles of Punch A and Punch B the company should produce in order to maximize profit?
C, What is this maximum profit?
The company should produce 9 bottles of Punch A and 5 bottles of Punch B in order to have a maximized profit of $51
Formulate the problem as a linear programmingThe given parameters can be represented using the following table:
Punch A (x) Punch B (y) Available
Orange 20 10 230
Grape 5 15 120
Profit 4 3
From the above table, we have:
Objective function: Max P = 4x + 3y
Subject to:
20x + 10y ≤ 230
5x + 15y ≤ 120
x , y ≥ 0
Bottles of Punch A and Punch B the company should produceTo do this, we plot the graph of the constraints
From the graph (see attachment), we have:
Punch A (x) = 9
Punch A (y) = 5
Hence, the company should produce 9 bottles of Punch A and 5 bottles of Punch B in order to maximize profit
What is this maximum profit? Substitute 9 for x and 5 for y in P = 4x + 3y
This gives
P = 4 * 9 + 3 * 5
Evaluate
P = 51
Hence, the maximum profit of the company is $51
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Answer:
Explanation:A Juice Company has available two kinds of food Juices: Orange Juice and Grape Juice. The company produces two types of punches: Punch A and Punch B. One bottle of punch A requires 20 litters of Orange Juice and 5 litters of Grape Juice. 1 Bottle of punch B requires 10 litters of Orange Juice and 15 litters of Grape Juice. From each of bottle of Punch A a profit of $4 is made and from each bottle of Punch B a profit of $3 is made. Suppose that the company has 230 litters of Orange Juice and 120 litters of Grape Juice available.
Sandia Inc. wants to acquire a $360,000 computer-controlled printing press. If owned, the press would be depreciated on a straight-line basis over 10 years to a book salvage value of $0. The actual cash salvage value is expected to be $25,000 at the end of 10 years. If purchased, Sandia will incur annual maintenance expenses of $3,000. These expenses would not be incurred if the press is leased. If the press is purchased, Sandia could borrow the needed funds at an annual pre-tax interest rate of 10%. The lease rate would be $48,000 per year, payable at the beginning of each year. If Sandia has an after-tax cost of capital of 12% and a marginal tax rate of 40%, what is the net advantage to leasing? a. $37,737 b. $65,543 c. $60,713 d. $57,173
Answer:
a. $37,737
Explanation:
Present value of Cost of Buying = The Cost of Press + [(Post Tax annual maintenance expenses - Annual Depreciation Tax shield)*PVIFA (6%,10)] - [Post tax Salvage Value*PVIF (12%,10)]
PV of Cost of Buying = 360000 + (3000*(1-40%)-360000/10*40%)*7.360 - 25000*(1-40%) * 0.322
PV of Cost of Buying = $262,434
Present value of Cost of Leasing = Post tax Lease Payment at the Beginning *(1+PVIFA(6%,9))
PV of Cost of Leasing = $48000*(1-40%)*(1+6.802)
PV of Cost of Leasing = $224,697
Net advantage to leasing = PV of Cost of Buying - PV of Cost of Leasing
Net advantage to leasing = $262,434 - $224,697
Net advantage to leasing = $37,737
need help in these question
Answer:
one sec i can help
Explanation:
According to Feiler, what is the good news about families today? What is the bad news and the worst news? Have you witnessed any examples of the good or bad news about families personally?
A new approach to family dynamics, inspired by cutting-edge ideas gathered from specialists in the fields of science, business, sports, and the military, has been outlined in The Secrets of Happy Families by New York Times bestselling author Bruce Feiler.
According to Feiler, What is the secret of happy families?Despite all the new studies on individual happiness, spending time with the people you care about may be quite fulfilling. In actuality, it is the best indicator of overall life pleasure. The pace and demands of everyday life leave almost everyone feeling fully exhausted, and this tiredness has a significant negative impact on family harmony.
Numerous studies have found that stress is the top issue for both parents and kids. This refers to both internal and external stress. Additionally, stressed parents pass that stress on to their kids. Parental stress damages children's brains impair their immune systems, and increases their chances of obesity, mental disease, diabetes, allergies, and even tooth decay, according to studies.
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The difference between a firms current assets and current liabilities is known as the
Answer:
Working capital
Explanation:
Working capital, also called net working capital, represents the difference between a company's current assets and current liabilities.
The difference between a firm's current assets and current liabilities is known as its "working capital." Working capital is a measure of a company's short-term financial health and represents the funds that are available to finance the day-to-day operations of the business.
Current assets include cash, accounts receivable, inventory, and other assets that are expected to be converted into cash within one year or within the normal operating cycle of the business, whichever is longer. Current liabilities, on the other hand, include accounts payable, short-term loans, and other obligations that are due within one year or within the normal operating cycle of the business. Therefore, working capital is calculated by subtracting current liabilities from current assets: Working Capital = Current Assets - Current Liabilities
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the median of four numbers is 63.the three of the numbers are 60,62 and 92 what is the missing number
Answer: 64
Explanation:
To find the median of a number, we have to arrange the numbers that are given in either ascending or descending order.
In this case there are 4 numbers, let the fourth number be x, therefore the numbers will be:
60, 62, x and 92.
Since they are four numbers, the median will be the addition of the 2nd and 3rd number and then divided by 2. This will be:
(62 + x) / 2 = 63
62 + x = 126
x = 126 - 62
x = 64
The missing number is 64
What is the purpose of blockchain technology?
The purpose of blockchain technology is to provide a decentralized and transparent system for recording and verifying transactions or information. It is a distributed ledger technology that allows multiple parties to maintain a shared database without the need for a central authority. Overall, blockchain technology provides a robust and secure framework for businesses to enhance security, transparency, efficiency, and trust in their operations, leading to improved processes and better customer experiences.
The main purpose of blockchain technology is to create a distributed and secure ledger of transactions. Some key aspects of blockchain technology include:
Distributed - The blockchain is distributed across a network of computers instead of being stored in a centralized location. This makes it more resistant to data tampering and hacking.
Secure - Blockchain uses cryptographic techniques to ensure the integrity and security of the data. Once a transaction is recorded, it is very difficult to change or hack the data.
Transparent - All transactions recorded on the blockchain are publicly visible to anyone with access to the network. This transparency helps prevent fraudulent activities.
Automatic - Blockchain uses a distributed consensus mechanism to automatically validate transactions. There is no need for a central authority or intermediary.
Immutable - Once a transaction is recorded on the blockchain, it is almost impossible to change. This immutability provides a high degree of certainty for transactions.
The main applications of blockchain technology are:
Digital currency - Blockchain underlies cryptocurrencies like Bitcoin which are decentralized digital currencies.
Financial transactions - Blockchain can be used to record financial transactions in an efficient, secure and transparent manner.
Supply chain management - Blockchain can track materials, payments and documents throughout supply chains.
Smart contracts - Self-executing contracts can be embedded in the blockchain to automatically execute terms of agreements.
Asset registry - Assets like land titles, jewelry, artwork, etc. can be recorded on a blockchain to prove ownership and authenticity.
In summary, the key purpose of blockchain technology is to create an incorruptible digital ledger of data that is distributed across a network. This makes the data secure, transparent and permanent.