the meals and/or lodging are furnished by the employer on the employer's business premises for the convenience of the employee. true or false
Answers
This statement refers to the taxability of meals and lodging provided by an employer to an employee. Given statement is True
According to the IRS, if meals and lodging are provided by an employer on their business premises for the convenience of the employer, they are generally not taxable as income to the employee. This is because the primary purpose of providing the meals and lodging is for the employer's benefit, rather than the employee's. One of the conditions is that the meals and/or lodging must be provided on the employer's business premises for the convenience of the employee. However, there are certain exceptions and rules that must be followed to qualify for this exemption.
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Related Questions
does 1 plus 1 = 65 yes or no
Answers
Answer:
No 1 + 1 = 2
Explanation:
Lol
In September, you made a profit of $5,456,963 with expenses of $2,456,654. What was your total revenue?
Answers
The total revenue when the profit and expenses are given so it should be considered as the $7,913,617.
Calculation of the total revenue:We know that
Profit is $5,456,963
And, expenses is $2,456,654
We know that
Profit = Revenue - Expenses
$5,456,963 = Revenue - $2,456,654
So, the revenue is
= $5,456,963 + $2,456,654
= $7,913,617
Hence, The total revenue when the profit and expenses are given so it should be considererd as the $7,913,617.
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What kind of complaints does the BBB not handle?
Answers
The BBB does not handle complaints about pricing, business-to-business disputes, criminal acts, or civil rights violations, among other kinds of grievances.
Within five business days of the complaint being submitted, the BBB contacts the company after it has been opened. After that, the company has 30 days to reply. If the company disputes the complaint, information about taking the matter up with a government agency is included. Any answer is given to the complaining customer via mail or email. In either case, the complaint is resolved once the company replies. The BBB lacks the authority to order companies to pay fines or other sanctions because it is not a government-sanctioned organization like state consumer protection organizations. However, failing to react to a BBB complaint can still have negative repercussions.
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Pat and his friend rent an apartment together. Their total cost to move in included first month's rent, last month's rent and a security deposit of $600. If Pat paid a total of $1,050 to move in, how much is his share of the rent each month?.
Answers
Pat and his friend rent an apartment together. Their total cost to move in included the first month's rent, last month's rent, and a security deposit of $600. If Pat paid a total of $1,050 to move in,
Explanation: We know that he and his friend rent an apartment together. Their total cost to move in included the first month's rent, last month's rent, and a security deposit of $600.Pat paid a total of $1,050 to move in. We have to find Pat's share of the rent each month. We will begin by calculating the total amount of rent they paid to move in. It is calculated by subtracting the security deposit from the total amount paid to move in. So, Total rent paid = Total amount paid - Security deposit= $1,050 - $600= $450Now, we know that the total rent for the apartment is split between Pat and his friend. Therefore, we can divide the total rent by two to find each of their shares:$450 ÷ 2 = $225Therefore, Pat's share of the rent each month is $225.
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At which point in the accounting cycle should an accountant prepare a trial
balance?
A. Just before preparing financial statements
OB. At any point he or she chooses
OC. At the end of the cycle only
D. At the beginning of the cycle only
Answers
At the end of the cycle only in the accounting cycle should an accountant prepare a trial balance. The correct option is C.
Why do accountants prepare a trial balance?A trial balance's purpose is to ensure that all entries made to an organization's general ledger are properly balanced. Each general ledger account's ending balance is listed in a trial balance. Each accounting entry's total dollar amount of debits and credits is supposed to match.
The trial balance is created after all transactions in the ledger accounts have been recorded. All ledger account balances to the credit and debit sides are recorded in the trial balance. It is typically prepared at the end of the fiscal year, prior to the preparation of final accounts.
Thus, the ideal selection is option C.
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Match the following.
1. A sign is written before a note that changes the pitch of that note slightly for an entire measure.
2. A sign is used to show lower pitches on the staff.
3. Identical pitches with two different names.
4. Treble and bass clef staves joined by a bracket.
5. An interval with pitches sounded consecutively.
Accidental
Bass clef
Grand staff
Enharmonics
Melodic interval
Answers
1. Accidental
2. Bass clef
3. Enharmonics
4. Grand staff
5. Melodic Interval
Which option identifies the marketing strategy demonstrated in the following scenario?
Department stores often have their own credit cards and mailings sent to card holders that offer incentives such as
percent discounts and early hour shopping days.
O product packaging
customer loyalty
O advertising
word-of-mouth
Answers
Answer: customer loyalty
Explanation:
Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) 50 b) $865.94 C) $991.36 d) $1156.36
Answers
Option(A) is the correct answer. Krishna will receive a disability benefit of $660 under the CPP.
To determine the disability benefit that Krishna will receive under the CPP, we need to consider a few factors. First, let's calculate the disability benefit based on the provided information:
The flat-rate disability amount is $496.36 per month.
The maximum monthly disability benefit is $1362.30.
Krishna's entitlement to a CPP retirement benefit is $660 per month.
To calculate the disability benefit, we compare the retirement benefit to the flat-rate disability amount and the maximum monthly disability benefit:
The disability benefit will be the lesser of:
The retirement benefit ($660)The flat-rate disability amount ($496.36) plus the retirement benefit minus the flat-rate disability amount.Let's calculate the disability benefit based on the above formula:
Disability benefit = min(retirement benefit, flat-rate disability amount + retirement benefit - flat-rate disability amount)
= min($660, $496.36 + $660 - $496.36)
= min($660, $660)
= $660
Therefore, Krishna will receive a disability benefit of $660 under the CPP.
Option (a) 50, option (b) $865.94, option (c) $991.36, and option (d) $1156.36 are not correct based on the given information. The correct answer is that Krishna will receive a disability benefit of $660 under the CPP.
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Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) $660 b) $865.94 C) $991.36 d) $1156.36
According to the authors of your textbook, buying the naming rights to a sports or entertainment venue (for example, Kroger Field) is a form of __________. Some other authors (including, perhaps, the authors of your MKT 300 textbook) say that it is a form of __________. Group of answer choices personal selling; public relations public relations; advertising advertising; sales promotion in-store marketing/design elements; public relations direct marketing; sales promotion
Answers
The correct answers to the given questions are sales promotion; public relations.
What is a Sales Promotion?This refers to the creation of awareness for a particular brand or product by identifying a brand with it for better sales.
Hence, we can see that by buying the naming rights to a sports venue, it can be used as a form of sales promotion, and also some authors believe this is a form of public relations.
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Budgeting is the __________ based on a determined structure.
Answers
Budgeting is the process based on a determined structure.
What is the concept of budgeting?
Budgeting is a financial planning process that involves setting goals and creating a plan to achieve those goals. It involves developing a spending and saving plan that works within the framework of a person’s or organization’s financial resources. Budgeting is an effective tool for individuals and businesses to manage their finances. It allows them to track and monitor their income and expenses, and allocate funds appropriately. It also helps to identify areas where they can make adjustments to improve their financial situation. Budgeting can help people manage their money more effectively, set and achieve financial goals, and make sound financial decisions.
It is an important step for individuals and businesses to take to ensure their financial health and stability.
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Given the following information, if there are currently 60 units of inventory, the available to promise will show. Week 1 2 3 4
Forecast Demand 120 120 120 120
Actual Customer Orders 85 100 35 20
Available to Promise MPS 250 250 a. 130, 130, 130, 130
b. 165, 65, 30, 230
c. 130, 10, -110, 130
d. 30, 0, 0, 230
Answers
Net and gross requirements are shown on an assembly-time chart while taking into consideration the inventory that is currently on hand.
How does inventory work?Resources are all the goods, products, and materials that a business has available for sale in order to turn a profit. Exemplar: Only the newspaper will be considered inventory if a newspaper vendor uses a car to ring bells to customers. The vehicle will be regarded as an asset.
What is the inventory formula?Calculating beginning inventory requires determining the cost of goods sold (COGS). The cost of new inventory acquisitions should then be subtracted, and the value of the most recent end stock should be added. The calculation is (COGS + closing balance) - purchases.
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WILL GIVE BRAINLEST ASAP!!!!!! Good afternoon can someone answer this please
Answers
a financial plan is most influenced by
Answers
Answer: priorities and goals
Explanation: because
The financial plan is most influenced by priorities and goals Option(b) is correct.
What does Financial Plan means?Overall utilization, a financial plan is a complete assessment of a singular's ongoing compensation and future financial state by utilizing current known factors to foresee future pay, resource values and withdrawal plans.
In business, a financial plan can allude to the three essential financial assertions monetary record, pay explanation, and income proclamation) made inside a field-tested strategy. Financial estimate or financial plan can likewise allude to a yearly projection of pay and costs for an organization, division, or division.
A financial plan can likewise be an assessment of money needs and a choice on the most proficient method to raise the money, like through getting or giving extra offers in an organization A financial plan might contain forthcoming financial explanations, which are comparative, however unique, than a financial plan. Financial plans are the whole financial bookkeeping outline of an organization. Complete financial plans contain all periods and exchange types.
Therefore Option(b) is correct.
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Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone must have a gidgit, the "must-have" gadget! Gidgits Galore has opened up stores in ten new states, hired hundreds of new employees, built two additional factories, and started an advertising campaign that has caught the US by storm! Its expansion has been featured in news magazines across the country. But Gidgits Galore has encountered a few problems and needs some advice.
Should Gidgits Galore entice much sought-after employees with generous benefits?
no
yes
Answers
Answer:
Yes
Explanation:
Edge 2021
Answer:
YES edge 2023
Explanation:
A Self- Employment Assistance Program (SEA) offered by some states is designed to:
Answers
A Self-Employment Assistance Program (SEA) is designed to help individuals who are receiving unemployment benefits to start their own businesses.
The program is offered by some states in the United States and is designed to provide assistance to those who are interested in becoming self-employed.
The SEA program typically includes a range of services, such as business counseling, training, and financial assistance. Participants in the program are required to develop a business plan and work with a counselor to determine the viability of their business idea.
One of the key benefits of the SEA program is that it allows individuals to continue receiving unemployment benefits while they are working on their business. This means that they can focus on building their business without having to worry about their financial situation.
Overall, the SEA program is an excellent option for individuals who are interested in starting their own business but need some additional support to get started. It provides a range of resources and assistance that can help individuals to build successful and sustainable businesses.
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Generally, it is a sound business practice to take advantage of cash discounts. the money saved by paying invoices promptly is free to be used elsewhere. conversely, there is an implicit (opportunity) cost of foregoing a cash discount. by forgoing a cash discount, the small business owner is, in effect, paying an annual interest rate to retain the use of the discounted amount for the remainder of the credit period.
For example, assume that Jill anticipates she will receive invoices for $500 from the vendors offering cash discounts of 3/10, net 45.
a) how much will Jill save by paying within the discount period?
b) what will it cost Jill to retain the use of credit for 45 days?
c) what is the annual interest rate of the "loan" (ie. what is the annual rate of 3/10, net 45)?
Answers
Answer: a. $485
b. $15
c. 32.28%
Explanation:
a. how much will Jill save by paying within the discount period?
3% × $500 = 3/100 × $500 = 0.03 × $500 = $15
The amount saved will be:
= $500 - $15.
= $485
b) what will it cost Jill to retain the use of credit for 45 days?
This will be:
= 3% × $500
= 3/100 × $500
= 0.03 × $500
= $15
c) what is the annual interest rate of the "loan" (ie. what is the annual rate of 3/10, net 45)?
c) The annual interest will be calculated using:
= P x R x T
where,
I = interest = $15
P = principal = $485
R= rate of interest = Unknown
T= time factor = 15/365 = 0.0958
Then, annual Interest rate will be:
R = 15/ (485 x 0.0958)
R = 32.28%
Annual Interest rate is 32.28%
Ms. Anderson has been using Sage 50 since her business started three years ago and now wants to switch to QBO. What do you tell her about what she can expect from the transition?
A. The comprehensive migration utility will convert all your Sage 50 data into a compatible format so you can import it into your QBO company file.
B. Sage 50 is a fierce competitor of QBO and, therefore, not compatible for migration.
C. You may have to upgrade to the QBO Plus subscription tier for that much data.
D. Intuit Canada's Service Delivery team can provide free conversion of the past two years.
Answers
Ms. Anderson can expect a smooth transition from Sage 50 to QBO with the help of a (A) migration utility and potential subscription upgrades.
When transitioning from Sage 50 to QBO, Ms. Anderson can expect a smooth migration process. Option A states that there is a comprehensive migration utility available that can convert all her Sage 50 data into a compatible format, allowing her to easily import it into her QBO company file.
Option B suggests that Sage 50 is not compatible for migration, but this is not accurate as QBO provides tools and resources to facilitate the transition. Option C mentions the possibility of upgrading to the QBO Plus subscription tier if Ms. Anderson has a large amount of data to migrate.
Option D highlights that Intuit Canada's Service Delivery team can provide free conversion of the past two years of data. This offers additional support and assistance during the transition process.
Hence, Ms. Anderson can expect a (A) seamless transition from Sage 50 to QBO, with a migration utility available, potential subscription tier upgrades, and the option for free data conversion services.
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which south asian country had a major earthquake in 2015, resulting in more than 9000 fatalities and economic losses of 25% of gdp?
Answers
The South Asian country that had a major earthquake in 2015 was Nepal. With 9000 fatalities and economic losses of 25% of GDP, The earthquake occurred on April 25, 2015, and had a magnitude of 7.8 on the Richter scale.
It caused widespread destruction and resulted in more than 9000 fatalities, with much more injured and displaced. The earthquake also had severe economic consequences, with the country's GDP taking a major hit. Economic losses were estimated to be around 25% of GDP, with many homes and businesses destroyed or damaged.
The international community rallied to provide aid and support to Nepal in the aftermath of the disaster, but the country continues to face significant challenges in rebuilding and recovery.
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27. Many organizations do not have a formal trouble reporting system. Why do you think this is the case?
Answers
Many organizations may not have a formal trouble reporting system for several reasons. One primary factor could be a lack of awareness regarding the benefits of such a system. Organizations might underestimate the importance of tracking and resolving issues in a systematic manner, which could lead to inefficiencies and dissatisfaction among employees and stakeholders.
Another reason could be the perceived complexity and cost associated with implementing a formal trouble reporting system. Organizations might assume that setting up such a system requires significant resources, both in terms of time and financial investment. This perception might discourage them from establishing a systematic approach to handling issues. Additionally, some organizations may rely on informal methods of reporting trouble, such as personal communication or ad hoc meetings, believing that these are sufficient for addressing problems. In reality, these methods may not be as effective as a formal system in terms of providing transparency, accountability, and traceability. Lastly, organizational culture and resistance to change could also play a role. Employees and management might be accustomed to existing processes and resistant to adopting new systems, especially if they believe that current methods are working well.
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What principle did the Supreme Court use to overturn Fulton's monopoly on a New York steamboat operation
Answers
States are not permitted to impede Congress' ability to regulate commerce through legislative action.
What Does Business Monopoly Mean?A monopoly is a scenario when there is only one seller operating in the market. The monopolistic condition is viewed as the utter antithesis of perfect competition in conventional economic theory. The monopolist will encounter the downward-sloping demand curve of the sector.
When one corporation and its product dominate an entire industry, there is little to no competition, and consumers are forced to buy the specific products or service from the one company it is called as Monopoly of that company over the Market.
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Assume your company’s sales increased from $3 million last year to $10 million this year. However, your biggest competitor is still the market leader with a 40% share of the $200 million widget market. Your other four competitors had sales this year of $53 million, $38 million, $12 million, and $7 million, respectively. For this year, what is your company’s MARKET SHARE? Type only a number along with a $ or % (if appropriate). Dollar amounts should be rounded to the nearest cent; percentages to the nearest tenth. *
Answers
Answer: 5%
Explanation:
The market share for the company will be gotten using the formula:
= Sales generated by company / Total industry sales × 100
= 10/200 × 100.
= 5%
Therefore, the company's market share is 5%
krysta wants to take piano lessons. she asked a teacher how many new pieces she could expect to learn each month. the teacher gave an estimate of 3. write an equation that shows how the total number of pieces krysta would learn, y, depends on the number of months of piano lessons, x.
Answers
The required equation is y = 3x which represents the total number of pieces Krysta would learn, where x months of piano lessons.
What is the Linear equation?A linear equation is defined as an equation in which the highest power of the variable is always one.
Krysta wants to learn to play the piano. She inquired with an instructor about the number of new pieces she could anticipate studying each month. The teacher estimated three.
Let y represent the total number of pieces Krysta would learn,
And x represent depends on the number of months of piano lessons,
According to the given situation, we can write the equation would be as:
⇒ y = 3x
Therefore, the required equation is y = 3x which represents the total number of pieces Krysta would learn.
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I need someone to answer very soon I could not interview my friends because the had someone else interview them Please respond as an interview.
Will give brainliest!!!!!!
Visualize a day in your life as an adult. As your journal entry, describe that day. Then answer the following questions:
*Who will help you achieve that vision?
*What choices should you make to have the adult life you want?
*What should you beware of on your path to your visualized adult life?
Answers
Answer:
Today was a day of progress and success. I started my day with a morning run, energizing myself for the day ahead. I then started my workday, and with the help of my colleagues, I managed to exceed expectations and close a big project.
I then went to the gym to keep my body healthy, and then visited my family for dinner. I spent quality time with them, catching up with them, and sharing laughs and stories.
To achieve my vision of an adult life, I need help from the people around me. My family and friends are my biggest supporters, and they are always encouraging me to stay focused on my goals. My colleagues at work are also essential in helping me to achieve my vision.
In order to have the life I want, I must make choices that will bring me closer to my goals. Striving to make wise decisions that will benefit me in the long-term is a must. I also need to stay focused on my goals and follow through on my plans.
On my path to my visualized adult life, I must be aware of my own limitations and weaknesses. It is important to be honest with myself and to know when I need help. Additionally, I must be careful of people who may be trying to take advantage of me. Finally, I must make sure to take care of myself, both physically and mentally.
Answer:
I can create a fictional journal entry based on a typical day in the life of an adult.
Journal Entry: February 15, 2023
Today was a busy but productive day. I woke up at 6 am, went for a quick run around the park, and then had a healthy breakfast. After that, I spent some time checking my emails and catching up on some work-related tasks.
At 9 am, I had a meeting with my boss and some colleagues to discuss a new project we're working on. We brainstormed some ideas, made a plan, and delegated tasks. I'm excited about this project and I think it will be a great opportunity for me to learn and grow in my career.
After the meeting, I had a few more work-related tasks to complete, and then I took a lunch break. I met up with a friend at a nearby cafe and we caught up on each other's lives over sandwiches and coffee.
In the afternoon, I had a doctor's appointment for a routine checkup. Thankfully, everything checked out fine and I'm healthy. After the appointment, I stopped by the grocery store to pick up some ingredients for dinner.
I got home around 5 pm and spent some time unwinding and relaxing. I did some yoga, listened to music, and read a book. Then I started preparing dinner - I made a healthy and delicious salad with grilled chicken and some roasted vegetables.
After dinner, I watched a movie on Netflix and then went to bed around 11 pm, feeling satisfied with how the day went.
To achieve the vision of this kind of day, one would need support from various individuals, such as a boss, colleagues, friends, and medical professionals. It's important to build and maintain positive relationships with these people to make sure that they can provide the support needed.
To have the adult life one wants, it's essential to make choices that align with personal values and goals. Prioritizing health and wellness, setting career goals, and nurturing relationships are some examples of positive choices to make.
On the path to a visualized adult life, it's important to be aware of potential obstacles or challenges that may arise. These could include things like health issues, relationship problems, financial difficulties, or setbacks in career development. Being prepared to face these challenges and having a support system in place can help navigate these obstacles successfully. Additionally, it's important to be mindful of self-care and to not let work or other obligations consume all one's time and energy, as burnout is a common risk for those living busy lives.
process
of dividing a large market into smaller groups
Answers
Answer:
Market segmentation
Explanation:
Market segmentation, the process of dividing a larger market into smaller pieces based on one or more meaningful, shared characteristics, is a way of life for almost all marketers in both consumer and business-to-business markets.
can you please mark me 'Brainliest'? thanks
Ian's house and land have a market price of $225,000 and an assessed value of 55% of that amount. His state has a property tax rate of 0. 88. How much does Ian pay in property tax every year? a. $19,800 b. $18,900 c. $10,890 d. $8,910
Answers
The amount that'll be paid as property tax yearly will be $10890.
Market price = $225000Property tax rate = 0.088Assessed value = 55%The amount that'll be paid in property tax will be:
= $225000 × 55% × 0.088
= $10890
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Answer:
10890
Explanation:
When the world price of a product is higher than the Cuban equilibrium price, it would be advantageous for Cuba to _____________ that product.
O export
O neither export nor import
O import
O both export and import
Answers
When the world price of a product is higher than the Cuban equilibrium price, it would be advantageous for Cuba to export that product.
Exporting permits Cuba to take benefit of the better world charge and earn additional sales from selling the product in international markets. By exporting, Cuba can capitalize on the price differential between the sector marketplace and its domestic market. It can boom its export quantity, generate foreign exchange, and potentially raise its financial growth.
Exporting also lets Cuba tap into the comparative benefit it can have in producing sure goods or commodities. If Cuba can produce the product more efficaciously or at a lower value in comparison to other international locations, exporting permits it to concentrate on those regions and benefit from the worldwide change.
Importing, then again, would no longer be effective in this state of affairs. If the world charge is better than the Cuban equilibrium fee, uploading could require Cuba to pay a better rate for the product in comparison to its domestic marketplace. It could be more economically favorable for Cuba to export the product and capitalize on the charge differential as opposed to uploading and incurring higher prices.
In the end, when the sector fee of a product is better than the Cuban equilibrium rate, it'd be high-quality for Cuba to export that product to enjoy a higher worldwide rate and maximize its export profits.
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what can the organization use the porter five forces analysis to promote competitiveness in their industry?
Answers
Porter's 5 forces make up a study model of the competitive structure of an industry in which the following are analysed:
The bargaining power of customersThe bargaining power of suppliersThe threat from substitute productsThe threat from represent incoming products Porter's 5 forcesThese five elements are analyzed separately but interconnected, since each of them affects the organization's level of competition. By analyzing the threats of these competitive forces, we can determine our position in the market and understand why we have the current market share.
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Write the definition in your own words
_________________________________________________________________________________________________________
Income Statement:
_________________________________________________________________________________________________________
_________________________________________________________________________________________________________
Accounting Period:
_________________________________________________________________________________________________________
Time-Period Principle:
_________________________________________________________________________________________________________
_________________________________________________________________________________________________________
_________________________________________________________________________________________________________
Matching Principle:
Answers
Income Statement corresponds to the statement of income and expenses related to organizational activity and profit and loss for a period.
An Accounting period refers to a period of time, such as a year, a month, a quarter, in which the situation of the company in relation to its accounting at that moment will be analyzed.
The Time-period Principle refers to the standard by which a company usually analyzes its financial results, with annual, quarterly and monthly statements being common.
The Matching Principle, on the other hand, refers to recording an expense in the same period of recording the related revenue, to generate greater structuring and reliability in the statements.
What is the purpose of accounting?It is the registration and organization of a company's financial resources for greater control over assets. Through accounting sciences, a company can recognize its real situation in the market, enabling decision-making more aligned with its objectives, in addition to demonstrating security for stakeholders.
Therefore, accounting is an essential instrument for controlling financial resources, helping a company to be well positioned in the market.
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Save Answe Question 16 2 points On November 1, 2021, Green Valley Farm entered into a contract to buy a $150,000 harvester from John Deere. The contract required Green Valley Farm to pay $150,000 in advance on November 1, 2021. The harvester (cost of $110,000) was delivered on November 30, 2021. The journal entry to record the contract on November 1, 2021 includes a credit to Unearned Sales Revenue for $150,000 credit to Accounts Receivable for $150,000. credit to Sales Revenue for $150,000 debit to Unoamed Sales Revenue for $150,000.
Answers
The correct journal entry should be:
Debit: Harvester (Asset) $110,000
Credit: Cash $150,000
Credit: Unearned Sales Revenue $40,000
How do we explain?We record as follows:
Debit= Harvester (Asset) $110,000
Credit = Cash $150,000
Credit = Unearned Sales Revenue $40,00
The debit to Harvester (Asset) account is a representation of the cost of the harvester, which is an asset for Green Valley Farm.
The credit to Cash account reflects the payment of $150,000 made in advance on November 1, 2021.
The credit to Unearned Sales Revenue account represents the portion of the payment received in advance that has not yet been earned as revenue.
And because the harvester was not delivered yet, the revenue cannot be recognized fully at this point.
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Charry was pretty sure she wanted to work at Hogs Foot Brewery after she read the ad for an open position and researched the company. She concluded she was enough of a fit with the vacant position to warrant submitting an application. This process is termed
Answers
Considering the situation described above, when Charry concluded she was enough of a fit with the vacant position to warrant applying. This process is termed "Self-selection."
This is because Self-Selection is a process in which individuals select themselves among the lots.
It is done by conducting self-analysis and concluding that one is more fit for a role than others.
The self-selection process usually occurs in sports when individuals select themselves to play free kick or penalty kick.
Hence, in this case, it is concluded that the correct answer is "Self-Selection."
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