Tyrell Co. entered into the following transactions involving short-term liabilities.
Year 1
Apr. 20 Purchased $39,000 of merchandise on credit from Locust, terms n/30.
May 19 Replaced the April 20 account payable to Locust with a 90-day, 7%, $35,000 note payable along with paying $4,000 in cash.
July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 12%, $54,000 note payable.
__?__ Paid the amount due on the note to Locust at the maturity date.
__?__ Paid the amount due on the note to NBR Bank at the maturity date.
Nov. 28 Borrowed $33,000 cash from Fargo Bank by signing a 60-day, 9%, $33,000 note payable.
Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank.
Year 2
__?__ Paid the amount due on the note to Fargo Bank at the maturity date.
Answers
The payment tο Lοcust fοr the nοte payable is due οn August 17.
The payment tο NBR Bank fοr the nοte payable is due οn Nοvember 5.
The payment tο Fargο Bank fοr the nοte payable is due οn January 27 (Year 2).
How tο determine the missing dates?Tο determine the missing dates in the given transactiοns invοlving shοrt-term liabilities, let's analyze each transactiοn:
Year 1:
Apr. 20: Purchased $39,000 οf merchandise οn credit frοm Lοcust, terms n/30.
May 19: Replaced the April 20 accοunt payable tο Lοcust with a 90-day, 7%, $35,000 nοte payable alοng with paying $4,000 in cash.
This means that the nοte payable was issued οn May 19, and it has a 90-day term. Tο calculate the maturity date, we add 90 days tο May 19:
Maturity Date: May 19 + 90 days = August 17.
?: Paid the amοunt due οn the nοte tο Lοcust at the maturity date.
The payment tο Lοcust fοr the nοte payable is due οn August 17.
July 8: Bοrrοwed $54,000 cash frοm NBR Bank by signing a 120-day, 12%, $54,000 nοte payable.
This nοte payable was issued οn July 8 and has a 120-day term. Tο determine the maturity date, we add 120 days tο July 8:
Maturity Date: July 8 + 120 days = Nοvember 5.
: Paid the amοunt due οn the nοte tο NBR Bank at the maturity date.
The payment tο NBR Bank fοr the nοte payable is due οn Nοvember 5.
Nοv. 28: Bοrrοwed $33,000 cash frοm Fargο Bank by signing a 60-day, 9%, $33,000 nοte payable.
This nοte payable was issued οn Nοvember 28 and has a 60-day term. Adding 60 days tο Nοvember 28 gives us the maturity date:
Maturity Date: Nοvember 28 + 60 days = January 27 (Year 2).
Dec. 31: Recοrded an adjusting entry fοr accrued interest οn the nοte tο Fargο Bank.
This transactiοn is related tο the accrual οf interest οn the nοte payable tο Fargο Bank but dοes nοt invοlve a payment.
Year 2:
: Paid the amοunt due οn the nοte tο Fargο Bank at the maturity date.
The payment tο Fargο Bank fοr the nοte payable is due οn January 27 (Year 2).
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Related Questions
A tax on financial transactions that would both generate revenue and restrict capital flows is known as a ______ tax.
Answers
Answer:
Tobin Tax
Explanation:
"The Tobin tax is a tax levied on spot currency conversions, with the intention of disincentivizing short-term currency speculation, named after economist James Tobin."
Hope this Helps
What was in the sealed box from the Virginia Company in England that the settlers
A opened once they arrived?
B guns and weapons for protection from Indians
C gold
D the names of the seven men who would be the leaders
E a map that showed where the gold was
Answers
Answer:
B
Explanation:
Answer:
The Virginia Company sent a list of seven qualified men who could serve on a council and be the leaders. The company leaders did this because they knew the men would have a hard time agreeing on who should be the leaders.
Explanation:
Today, Hannah paid a total of $1,176, including accrued interest, to purchase a 20- year bond that has 6 years left until maturity. This price is referred to as the: quoted price. spread price. clean price. dirty price. call price.
Answers
Based on the information given, the price that Hannah paid for the bond, including accrued interest, is referred to as the dirty price. The dirty price takes into account both the quoted price of the bond and any accrued interest that has accumulated since the last coupon payment.
The clean price, on the other hand, only reflects the quoted price of the bond without any accrued interest. The spread price is the difference between the bid and ask price of a bond. The call price is the price at which a bond issuer can redeem the bond before maturity.
A bond earns interest every day, but it is only paid out on the Coupon Date. The Dirty Price of the Bond is the sum of the Accrued Interest and the Bond Price. A bond's Clean Price eliminates any Accrued Interest and just indicates the Bond's Price.
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What is another term for liability?
A. asset
B. notes
C. debt
D. accounts
Answers
Answer:
Another term for liability is debt, because both of these terms are accountable for money charges and assist needed :3
Explanation:
:3
This will give you 100 points so please answer fast and make it a good answer. Choose ONE of the organization structures from above: functional, divisional, or matrix.
Create an organizational chart for the internal organization of a business of your choice and assign the appropriate task to be performed to each department or individual.
Feel free to use the Internet to search for examples to use as a guide when creating your organizational chart. Be sure to include the URL links you used as resources in the space below.
Now include the following:
Identify your business or what your business sells.
State which type of organization structure you chose and why you chose that structure.
List the task(s) for each job in your organization chart.
Answers
The question tests your knowledge of Organograms and Organizational Structures. The structure used in this example is a functional organizational structure.
What is a functional organizational structure?Organizational Structures are the way businesses and organizations are organized.
Functional organizational structures are arranged or organized according to the functions that are available in the various departments of such an organization.
The organization structure attached is for revenue service. This structure is best for this kind of organization because it deals mostly with professional services that are intangible.
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Answer:
Explanation:
The question tests your knowledge of Organograms and Organizational Structures. The structure used in this example is a functional organizational structure.
What is a functional organizational structure?
Organizational Structures are the way businesses and organizations are organized.
Functional organizational structures are arranged or organized according to the functions that are available in the various departments of such an organization.
The organization structure attached is for revenue service. This structure is best for this kind of organization because it deals mostly with professional services that are intangible.
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The question tests your knowledge of Organograms and Organizational Structures - 1
If you own 1,600 shares of Company stock that pays a dividend of \$0.20/share. Then what is the total dividend you will receive using the discount rate is 4.5% (EAR).
Answers
Answer:
The correct solution would be "320".
Explanation:
The given values are:
Number of shares
= 1,600
Dividend per share
= $0.20
Now,
The received dividend will be:
= \(Number \ of \ shares\times Dividend \ per \ share\)
= \(1600\times 0.20\)
= \(320\)
what technique can be used to make sure that parallel withdrawals from atms cannot exceed the given limit of a bank account?
Answers
A bank account is a financial record of the financial transactions between a bank and a customer that is kept by a bank or other financial organization.
What is the meaning of Bank?A bank account is a financial record of the financial transactions between a bank and a customer that is kept by a bank or other financial organization.
Several account kinds are available from banks. Savings, current, salary, and BSBDA accounts are a few typical examples. Furthermore, fixed and recurring deposit accounts are available. Almost all accounts come with a variety of services from banks, such as debit cards, net banking, and other things.
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Banner corporation receives $30,000 in may, year 1 to manufacture and deliver its product in september, year 1. At the time the product is delivered, banner will _____.
Answers
At the time the product is delivered, Banner will debit Deferred Revenue and credit Sales revenue.
Unearned income which is commonly referred to as deferred revenue, is the term used to describe advance payments a business receives for goods or services that will be provided or rendered in the future.
The company that receives the prepayment adds the sum to its balance sheet as deferred revenue, also known as a liability. Deferred revenue is a liability since it represents money that has been promised to clients but not yet received.
The product or service is proportionately reported as revenue on the income statement as it is provided over time. Since deferred revenues are not recorded until they are earned, they are not shown on the income statement. Instead, they are listed as a liability on the balance sheet. The liability is reduced and revenue is recorded as the income is earned.
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The return on the Rush Corporation in the state of recession is estimated to be -22% and the return on Rush in the state of boom is estimated to be 31%. The return on the Oberman Corporation in the state of recession is estimated to be 42% and the return on Oberman in the state of boom is estimated to be -15%. Given this information, what is the covariance between Rush and Oberman if there is a 0. 60 probability that the economy will be in the state of boom and an 0. 40 probability that the economy will be in the state of recession. Place your answer in decimal form and not as a percentage
Answers
Based on the return on Rush Corporation at different phases of the economy, and that of the Oberman Corporation, the covariance between both companies is -0.079.
What is the covariance between Rush and Oberman Corporation?First find the returns on both companies:
Rush Corporation:
= (0.60 x -22%) + (0.4 x 31%)
= 0.4%
Oberman Corporation:
= (0.60 x 42%) + (0.4 x -15%)
= 19.2%
The Covariance is:
= 0.6 x (-0.22 - 0.004) x (0.42 x 0.192) + 0.4 x (0.31 - 0.004) x (-0.22 – 0.1780)
= -0.079
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Which document contains the rules and standards for representing a taxpayer?
a. Form 2848, Power of Attorney.
b. Circular 230, Regulations Governing Practice before the Internal Revenue Service.
c. Form 911, Application for a Taxpayer Assistance Order.
d. Form 8821, Tax Information Authorization.
Answers
Option b. Circular 230, Regulations Governing Practice before the Internal Revenue Service.
This document sets out the rules and standards for representing a taxpayer before the IRS. It covers topics such as who can practice before the IRS, the duties and responsibilities of practitioners, and the penalties for non-compliance. While Circular 230 provides the general guidelines for taxpayer representation, specific forms such as Form 2848, Power of Attorney and Form 8821, Tax Information Authorization may be required depending on the nature of the representation needed. Form 911, Application for a Taxpayer Assistance Order, is used in cases of extreme hardship or when the taxpayer is experiencing a significant adverse impact from IRS action.
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Short-term unemployment that is associated with the process of matching workers with jobs is called ______unemployment.
Answers
Answer:
frictional
Explanation:
Frictional unemployment appears when there are transitions like people that leave their work to find a new one and people that enter the workforce. According to that, the answer is that short-term unemployment that is associated with the process of matching workers with jobs is called frictional unemployment because this refers to people that become unemployed for a small period of time when they quit to get a new job.
Can some people give me free adopt me pets? Just put in your user and I'll add u
Answers
Answer:
U can have my fly ride neon unicorn
Explanation:
The process of establishing desired results that guide and direct behavior is known as:motivationgoal settingoutcome instrumentalityestablishing input/output equity perceptions
Answers
The process of establishing desired results that guide and direct behavior is known as goal setting.
Goal setting is a process that involves defining specific, measurable, attainable, relevant, and time-bound (SMART) objectives or targets. It provides individuals and organizations with a clear direction and purpose, motivating them to work towards achieving those goals. By setting goals, individuals can focus their efforts, prioritize tasks, and monitor progress, which enhances performance and increases the likelihood of success.
Goal setting is an essential aspect of motivation as it provides a sense of purpose and clarity. It helps individuals understand what is expected of them, creates a sense of urgency, and allows for the alignment of personal or organizational objectives with actions and behaviors. Additionally, goal setting promotes commitment and accountability, as individuals become more invested in their work when they have clear objectives to strive for. Overall, goal setting is a powerful motivational tool that guides behavior and drives individuals towards desired outcomes.
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How a business handles money is called _____ risk.
Answers
3. The following figures for a business are available:
$
June 1, 2019
Stock
Creditors
Debtors
Stock
Creditors
Debtors
May 31, 2020
11,590
3,410
5,670
13,425
4,126
6,108
Year to May 31, 2020
Received from debtors
Paid to creditors
45,112
29,375
All goods were bought or sold on credit.
Required:
Draw up the trading account for the year May 31, 2020, deducting any figures that may
be needed.
Answers
Answer:
what's the question....
Explanation:
Phyllis graduated with a degree in chemistry and started her career as a laboratory scientist with Dow Chemical. While at Dow, she met a sales representative from PPG Industries who suggested she might enjoy an opportunity to work directly with customers and assist them by answering product questions, making recommendations about new products and serving as an assistant to the field sales team. Phyllis applied for the position and is now working at PPG. She enjoys the opportunity to use her technical skills to assist customers and doesn't mind being on the phone or answering e-mails from customers. What type of sales channel is Phyllis working in
Answers
Answer: Inside selling
Explanation:
Based on the information given in the question, the sales channel that Phyllis is working in is the inside selling.
inside selling refers to the act of selling goods to the customers through phone or online rather than meeting the customers in person. Inside sales makes use of the phone, internet and emails to reach out to the customers.
Under the LIFO retail method, we determine that:__________.
a) a new layer of inventory has been added during the period if the ending inventory at retail is greater than the beginning inventory at cost.
b) the ending inventory at retail is greater than the beginning inventory at retail.
c) the ending inventory at retail is less than the beginning inventory at retail.
Answers
Answer: the ending inventory at retail is greater than the beginning inventory at retail
Explanation:
In the Last-In-First-Out(LIFO) method, it is assumed that the units that are sold are the ones that were recently bought.
Under the LIFO retail method, to determine a new layer at retail, the beginning inventory at the retail will have to be deducted from the ending inventory at retail.
This means that a new layer of inventory will be added when the ending inventory at retail is greater than the beginning inventory at retail.
HELP ASAP
A company had sales revenue of $1,000,000 last year. Its operating expenses were $100,000 and its income tax expense was
$10,000. Additionally, the company had $20,000 in sales returns and cost of goods sold of $500,000. What was its gross profit?
Answers
Answer: 480,000
This should be the gross profit, but if I'm wrong please let me know and ill try to fix it. :)
Select the most appropriate trade agreement for each description.
5. Environmental and job loss fears did not materialize.
(Click to select) Andean Community NAFTA CAFTA MERCOSUR USMCA
Answers
The North American Free Trade Agreement (NAFTA) is the most appropriate trade agreement for the description "Environmental and job loss fears did not materialize." The correct answer is option b.
NAFTA was signed by Canada, Mexico, and the United States in 1994 to promote trade and investment among the three countries. One of the primary criticisms of NAFTA was that it would result in environmental degradation and job losses, particularly in the United States.
However, studies have shown that these fears did not materialize to the extent that was anticipated.
While there were some job losses in certain industries, particularly in the manufacturing sector, other industries such as agriculture and services benefited from increased trade.
Additionally, there is no evidence that NAFTA had a significant negative impact on the environment. Overall, while NAFTA was not without its challenges, it did not have the negative environmental and job loss effects that some had feared.
The correct answer is option b.
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Complete Question
Select the most appropriate trade agreement for each description.
5. Environmental and job loss fears did not materialize.
(Click to select)
a, Andean Community
b. NAFTA
c. CAFTA
d. MERCOSUR
e. USMCA
The North American Free Trade Agreement (NAFTA) is the most appropriate trade agreement for the description "Environmental and job loss fears did not materialize." The correct answer is option b.
NAFTA was signed by Canada, Mexico, and the United States in 1994 to promote trade and investment among the three countries. One of the primary criticisms of NAFTA was that it would result in environmental degradation and job losses, particularly in the United States.
However, studies have shown that these fears did not materialize to the extent that was anticipated.
While there were some job losses in certain industries, particularly in the manufacturing sector, other industries such as agriculture and services benefited from increased trade.
Additionally, there is no evidence that NAFTA had a significant negative impact on the environment. Overall, while NAFTA was not without its challenges, it did not have the negative environmental and job loss effects that some had feared.
The correct answer is option b.
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Complete Question
Select the most appropriate trade agreement for each description.
5. Environmental and job loss fears did not materialize.
(Click to select)
a, Andean Community
b. NAFTA
c. CAFTA
d. MERCOSUR
e. USMCA
when a manufacturer saturates the market by selling to any intermediary of good financial standing that is willing to stock and sell the product, the manufacturer is engaged in select .
Answers
When a manufacturer saturates the market, the manufacturer is engaging in intensive distribution.
Intensive distribution can be define as the way in which companies or manufacturer made available or distribute their products from retail outlet to wholesaler outlet.
Most companies use intensive distribution marketing strategy to increase sales and to sell out the products in their warehouse so as to restock or restore new products.
Intensive distribution help to create product awareness to those people that are not aware of the products due to the fact that the products can be find everywhere.
Inconclusion the manufacturer is engaging in intensive distribution.
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From each paycheck of your afterschool job, you’re able to save $45 toward the coat. You get paid twice a month. How many months will it take you to save enough money to buy your North Face jacket.
Answers
Answer:4
Explanation:The total in 4 months would equal 360
4 months will it take you to save enough money to buy your North Face jacket.
Saving per month based problem;What information do we have?
Amount save per paycheck = $45
Amount of jacket = 350 (Missing data)
Amount save per month = 2 × Amount save per paycheck
Amount save per month = 2 × 45
Amount save per month = $90
Number of months need = 350 / 90
Number of months need = 3.88
Number of months need = 4 months
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calculate fica in cell j5 based on gross pay and the fica rate, and calculate the net pay in cell k5.
Answers
To calculate FICA (Federal Insurance Contributions Act) in cell J5 based on gross pay and the FICA rate, and calculate the net pay in cell K5, you can use the following formulas:
In cell J5:
=Gross Pay * FICA Rate
Replace "Gross Pay" with the actual cell reference containing the gross pay amount, and "FICA Rate" with the FICA rate as a decimal or percentage.
In cell K5:
=Gross Pay - J5
Replace "Gross Pay" with the actual cell reference containing the gross pay amount, and "J5" with the cell reference where you calculated the FICA amount in the previous step.
By using these formulas, you can calculate the FICA amount in cell J5 based on the gross pay and FICA rate, and the net pay in cell K5 by subtracting the FICA amount from the gross pay.
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Your mortgage has 24 years left, and has an APR of 7.945%
(with semiannual compounding) with monthly payments of
$1,500.
a. What is the outstanding balance? b. Suppose you cannot mak
Answers
the outstanding balance after 10 years would be $677,381.31.
Given data:Principal = $1500
Time period = 24 years
APR = 7.945%
Compounding period = semiannually
Compoundings per year = 2
Payment per year = 12
Let's solve each part of the question:
a) What is the outstanding balance?
The formula for calculating the outstanding balance is given by:
PV = P*[1 - (1 + r/ n)^-nt ] / (r / n)where
PV = Present Value or outstanding balance
P = Paymentr = rate of interest
n = compoundings per year of the rate of interest
t = time periodHere, P = $1,500, r = 7.945%, n = 2, t = 24 years = 24 * 12 = 288 months
So, putting the values in the formula:
PV = $1500 * [1 - (1 + 0.07945 / 2)^-288/2] / (0.07945 / 2) = $204,046.94
Therefore, the outstanding balance is $204,046.94
.b) Suppose you cannot make payments anymore.
After 10 years, what will be the balance?
Since the payments have stopped, the remaining amount will keep accumulating the interest and will become the outstanding balance.
Using the formula of compound interest:FV = PV * (1 + r/ n)^(nt)
where FV = Future Value or outstanding balance
PV = Present Value
r = rate of interest
n = compoundings per year of the rate of interest
t = time period
Here, PV = $204,046.94, r = 7.945%, n = 2, t = 10 years = 10 * 2 = 20 periods
So, putting the values in the formula:FV = $204,046.94 * (1 + 0.07945 / 2)^(20) = $677,381.31
Therefore, the outstanding balance after 10 years would be $677,381.31.
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a. The outstanding balance on the mortgage is $216,312.02.
b. The lender can foreclose the property and may sell it to recover the outstanding amount.
Given,
APR = 7.945%,
Compounding Semi-annually,
Monthly payments = $1500
The formula to calculate the outstanding balance is given by,
PV = C * [(1 - (1 + r/n)^(-nt)) / (r/n)]
Where,
PV = Present Value
C = Payment amount
r = annual interest rate,
n = number of times the interest compounds per year,
t = time in years
a) Calculation of outstanding balance:
The time period is 24 years.
Since the compounding is semi-annually, the interest rate per period would be (7.945/2)% = 0.039725%
r = 0.07945/2
= 0.039725
n = 2t
= 24
b) If the borrower cannot make payments and misses 4 consecutive payments, then the loan will be considered as defaulted.
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On July 1, 2023, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $4,300,000. The county estimated that 3 percent of the taxes levied would be uncollectible. As of April 30, 2024, the due date for all property taxes, the county had collected $3,995,000 in taxes. During the current fiscal year, the county collected $53,500 in delinquent taxes and $4,900 in interest and penalties on the delinquent taxes. The county imposed penalties and interest in the amount of $14,600 but only expects to collect $12,850 of that amount. At the end of the fiscal year (June 30, 2024), uncollected taxes, interest, and penalties are reclassified. They are not expected to be collected within the first 60 days for the following fiscal year.RequiredRecord entries for the above transactions as stated in the individual statements below, and post corresponding information into the Revenues ledger as appropriate.Prepare journal entries to record the tax levy on July 1, 2023, in the General Fund. (Ignore all entries in the governmental activities journal.)Prepare a summary journal entry to record the collection of current taxes as of April 30.Prepare a summary journal entry to record the collection of delinquent taxes, interest, and penalties. (You may assume that these amounts had been designated as Deferred Inflows of Resources.)Prepare the journal entry necessary to reclassify the uncollected tax amounts as delinquent. Assume these taxes are not expected to be collected within 60 days of year-end.Prepare the journal entry necessary to record interest and penalties if they are not expected to be collected soon after year-end.
Answers
Dr. Property Tax Receivable - Current $4,300,000.00. Cr. is the journal entry to reflect the tax levy on July 1, 2023. Current Taxes Estimated Uncollectible at $129,000. Cr. Property taxes brought in $4,171,000 in revenue.
What occurs when Florida property taxes are past due?All real estate taxes must be paid by March 31 each year under Florida law. The statute mandates that Tax Collectors hold an auction and sell "tax certificates" by June 1 if the taxes are not paid.
How much can Washington State's property taxes rise?Furthermore, in Washington State, unless voters approve a higher increase, the amount of revenue taxing districts, such as cities, school districts, and fire districts, for example, can collect each year is only allowed to increase by 1%.
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the principal of a mortgage loan is the
a. down payment minus the closing costs minus the purchase price
b. purchase price plus the closing costs minus the down payment
c. down payment plus the closing costs plus the down payment
d. purchase price minus the closing costs minus the down payment
Answers
The down payment less the closing charges less the purchase price is the mortgage loan's principle.
What does a mortgage look like in its simplest form?When you enter into a mortgage with a lender, you give the lender the right to seize the property if they are unable to make the loan amount back plus the interest. You might be able to get a mortgage loan that will enable you buy a new house using the worth of the an existing home as security.
Why do individuals use mortgages?Mortgage loans assist people in financing the purchase of real estate by taking a small portion of the property's overall worth as payment. How Do Mortgages Work A mortgage is a loan used to pay for the upkeep of a home, piece of land, or other kinds of rental properties.
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Choose a good you are familiar with, and analyze its economic utility, using the questions below. NOTE: Choose a good for this exercise, not a service. a. What type of good did you choose? (1 sentence. 1.0 points)
Answers
The correct answer to this open question is the following.
Unfortunately, you did not attach the "questions below." So we do not know what they are or what they say.
However, trying to help, we can comment on the following.
The good I am most familiar with is oil because my father works in the oil industry.
Oil has an enormous economic utility because it literally "moves the world." Oil is used in almost every industry. We use it on a daily basis. First of all, we use gasoline in our cars. We use gas in our homes. Hotels, corporations, public service buildings use gas or gasoline in different forms.
Oil companies are one the most powerful industries in the world. Companies such as British Petroleum, Exxon, Mobile, Shell, and many others, are dominant industries in most of the countries. Some economies are based on oil and its fluctuant price.
Although governments are trying to move on and use alternative forms of energy that protect the environment, oil is still the most important form of energy on planet Earth.
What Is NOT one of the three primary resources that farnilies have to reach financlal goals?
A.Education
B.Energy
C.Time
D.Money
Answers
Answer:
I think it would be education
Explanation:
Answer: A. Education
Explanation:
"Home made food contains proper nutrition describe them
Answers
Answer:
sandwiches, soup, and others have real nutrition.
Explanation:
Imagine that you are a manager in a restaurant. Each month you have to purchase supplies for the restaurant. A meat supplier offers you a kickback of 10% if you purchase meat from him, even though his prices are slightly higher than the competitors. What would you do? Why?
Answers
Answer:
i would say that his prices were a little high and ask for 20% off if he cant give that off then i would just say okay. why? because that's the plight thing to do.
Explanation:
hope this help.
brainiest please
Answer:
I hope this helps :)
Explanation:
Well I feel like I would purchase the meat based on quality. Of course it's going to cost me more, but you can't go wrong with better product. If the other places are selling meat for less, but the quality is bad what's the point. I definatly would choose quality over quanity when it comes to the purchase of meat.
What is a product mix?
Answers
Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm. A product mix consists of product lines, which are associated items that consumers.
For example, your company may sell multiple lines of products.Or your product lines may be vastly different, such as diapers and razors.