Which inventory costing method will produce an amount for cost of goods sold that is closest to current market value?.
The FIFO (First in First out) technique of inventory costing will result in a COGS amount equal to market value.
What is the First in first out method?
First in, first-out (FIFO) is an uncomplicated approach to inventory valuation based on the presumption that commodities acquired or created first are sold first. This implies that older inventory is distributed to customers before fresh inventory, in theory.
FIFO is the method used to calculate the cost of goods sold using cost flow assumptions. The FIFO approach is predicated on the idea that the oldest items in an organization's inventory have already been sold.
Thus, the FIFO method will be able to produce a number of COGS equal to the market value.
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Find the a) amount, and b) compound interest. (From Example 1) Ramona Oden deposited $6,000 at 5.5% interest compounded daily for 25 days. 2. Chuck Lange deposited $6,000 at 5.5% interest compounded daily for 31 days.
Based on the amount deposited by Ramona and the interest rate, the amount would be $6,022.64 and the compound interest would be $22.64.
The amount for Chuck would be $6,027.18 and the compound interest would be $27.18.
What is the amount for Ramona?This can be found as:
= Amount x (1 + rate/compounding periods in a year) ^ number of periods
= 6,000 x (1 + 5.5%/365 days) ²⁵
= $6,022.64
The compound interest is:
= 6,022.64 - 6,000
= $22.64
What is the amount for Chuck?= 6,000 x (1 + 5.5%/365 days) ³⁰
= $6,027.18
Compound interest:
= 6,027.18 - 6,000
= $27.18
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_________ float results from the delay between the time when a customer deducts a payment from the checking account ledger and the time when the vendor actually receives the funds in a spendable form. (a) Mail (b) Processing (c) Collection (d) Disbursement
The delay between the deduction of the payment amount from the customer's checking account and the time in which that amount is received by the vendor is treated as the collection float.
Option C is the correct answer.
What is meant by collections?
Collections are the amount that has yet to be received by the company from the customers.
When the amount paid by the customer gets deducted from his/her bank account and the same amount earned by the selling party for spending further, then the duration between deduction and its reach to the vendor is considered as a collection float.
Therefore, the collection float represents the time of receiving payment to the vendor with its initial deduction from the customer's account.
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During market testing, Rembrandt Cosmetics realized that the cosmetics industry was dominated by multiple, well-established brands. These brands mostly sold their products in exclusive outlets and departmental stores. Rembrandt Cosmetics management realized that a new entrant would require a different business model to be successful. Thus, Rembrandt Cosmetics started selling its products through direct marketing. In this scenario, Rembrandt Cosmetics accomplished substitution primarily through
In the given scenario, Rembrandt Cosmetics accomplished its substitution primarily through strategic planning of equivalence.
What is strategic planning?When the differences between two different strategic plans are identical, with other things being constant, such a situation is called as a strategic planning of equivalence.
Hence, strategic planning holds true regarding the given situation.
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A customer has a margin account that shows a market value of $190,000 and a debit balance of $90,000. in addition, the account has special memorandum account of $5,000. the long market value at maintenance is
A maintenance margin is a minimum equity an investor ought to preserve withinside the margin account after the acquisition has been made. Hence, the long market value at maintenance in this case is $120,000.
What do you mean by long market value?Long market value at maintenance refers to the point where an account must fall (in market value) to reach minimum maintenance (25% of market value). ;
The maintenance margin is far presently set at 25% of the full value of the securities in a margin account as in step with Financial Industry Regulatory Authority (FINRA) requirements.
To calculate the long market value at maintenance, divide the debit balance by .75 ($90,000 / .75 = $120,000)
Hence, the long market value at maintenance is $120,000.
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On January 1, 2020, Bank X makes a loan of $10,000 on a 1 year note at an interest rate of 10% to a client. How much interest revenue is recognizable in total at the end of September 30, 2020
Products that have revisions that take more than 1 year can not be revised until the following year. True or False
Products that have revisions that take more than 1 year can not be revised until the following year. Thus, the statement is true.
What is a product?A product is referred to as a finished item that is ready for sale in the market to serve the customers. These products are tangible in nature so that people can see, touch and use them.
Product revision has been referring to making any modifications or changes to the current product. These product revision has been done when customers are not satisfied with the quality or packaging of the product.
When the product is revised with a time duration of 3 months then this will be considered efficient whereas if takes time of more than a year, it will be considered a product failure.
The revision should not cause delay because there are many competitors available in the market to capture the target audience of your business.
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U
Drag each label to the correct location on the image.
Match the descriptions to the possibility of being addressed by a Trial Balance.
can detect the accuracy
of the accounting process
can help prepare the
income statement
can help check whether a
particular transaction has
been completely omitted
helps serve as a proof of
the application of the
double-entry system
Possible
can help check whether the
debit side is equal to the
credit side
Not Possible
The descriptions to cases that will possibility be addressed by a Trial Balance are:
can detect the accuracy of the accounting process(possible)can help check whether the debit side is equal to the credit side(possible)can help prepare the income statement(possible)helps serve as a proof of the application of the double-entry system(not possible)can help check whether a particular transaction has been completely omitted(not possible)What is trial balance?A trial balance can be regarded as bookkeeping worksheet which contains the ledger that is arranged into debit and credit account column .
Therefore, with trial balance, one can check whether the debit side is equal to the credit side.
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Suppose a state passes a minimum wage law that increases the minimum wage from $5/hour to $20/hour. The equilibrium wage prior to the minimum wage hike was $10/hour. Which is likely to result from increasing the minimum wage
As a result of the minimum wage hike to $20/hour, Some employers and workers will agree on a wage less than $20 and not report the wages to the government.
What happens when the minimum wage is higher than the equilibrium wage?Employers would employ less people because they would be unable to pay the minimum wage demanded by the government.
In order to keep their jobs, some employees will make a deal with employers to pay them less than the minimum wage.
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When selecting a mentor, which of the following should be considered? (Select all that apply)
the mentor’s age
what skills the mentee needs to develop
the communication skills of the mentor and mentee
how much the mentor makes each year
What should be considered when choosing a mentor are;
what skills the mentee needs to developthe communication skills of the mentor and mentee.
Who is a mentor?A mentor can be regarded as the person who could be an expert that gives advice an direction about a subject plan.
Therefore, it's important to know skills the mentee needs to develop.
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Which is the best general statement about the role of government in business in the United States? O A. Government determines what goods and services are produced. B. Government acts to allow markets to function efficiently. C. Government owns the resources of production. D. Government has no role in business.
E-commerce ________ is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell them products and services.
E-commerce ubiquity is the ability of an organization to create a strong presence among consumers.
What is E-commerce?E-commerce can be regarded as the process involving crating a good presence so as to sell products to the consumer.
Therefore, it involves ability to sell in different locations.
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A group of customers that a business decides to focus its marketing efforts and, ultimately, its products on is a _____. target market niche industrial market consumer market
Answer:
Target market!!
Explanation:
Hope this helps:)
HELP ASAP
1. Define ethics and norms. Provide an example to illustrate how ethics and norms are related.
2. Explain the relationship between personal ethics and business ethics. How are they the same? How are they different? What role should ethics play in business decision-making?
3. Describe the role of ethics in customer relationship management.
4. What is the reason for creating a code of conduct? How is it related to a code of ethics? Provide an example of a behavior that might be addressed in a company’s code of conduct, and explain how the code aligns with specific company values.
5. How does globalization pose ethical challenges to business operations? Provide an example of the benefits of globalization and then a corresponding example explaining the problems with it. Be sure to describe who is benefitting in each of your examples.
Bill was 150 pounds overweight but his insurance premiums significantly dropped after he lost weight by going to a local health club and sending his insurance company recored of his monthly visits with a personal trainer what kind of measures did bill take that led for his insurance premiums to drop
The kind of measures that Bill took which made his insurance premiums to drop is a preventative measure.
What is a preventative measure?In insurance, a preventative measure can be defined as a kind of measure that typically involves reducing the degree of risk associated with an insurance object, and mitigating (decreasing) the negative impact of potential insurance-related accidents on the insured.
In this context, we can infer and logically deduce that the kind of measures that Bill took which made his insurance premiums to drop is a preventative measure.
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What measures the change in prices of a basket of goods and services in a given year?
O A. recession
O B.
depression
O C.
deflation
O D.
inflation
The measures that change in prices of a basket of goods and services in a given year include option D: inflation.
What do you mean by term Inflation?The term inflation is defined as the rise in the prices of goods and services in an economy.
The average change over time in the prices paid by urban consumers for a market basket goods and services of consumer is measured by the consumer price index.
Therefore, correct option is D.
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Macie has $25 in her checking account when her electronic funds transfer system (EFTS) card and personal identification number (PIN) are stolen. If Macie notifies her bank tomorrow, the day after the theft of her card, her loss is limited to: Group of answer choices
Macie's loss is restricted to the amount in his checking account if she doesn't notify her bank the day after her card is stolen. Limited amount checking account notifies next day card stolen.
What should a person do when his cards are stolen?Consumers must inform the loss of an ATM card, PIN number, or online banking password within two days of receiving their bank statement that reflects the crime.
Therefore, consumers that misuse their credit cards are only liable for $50 in losses.
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In the case where a broker was found guilty of license law violations and the recovery fund was required to pay a judgment of $8,000 from the fund, what could the frec do to the broker?
a. the frec must revoke the broker's license for being found guilty.
b. the frec must suspend the broker's license until the fund has been repaid.
c. the frec may issue a citation.
d. the frec must put the broker under probation.
When a broker was found guilty of license law violations and the recovery fund was required to pay a judgment of $8,000 from the fund, the frec must revoke the broker's license for being found guilty.
Who's a broker?It should be noted that a broker simply means a person that buys and sells shares for other people.
In this case, when a broker was found guilty of license law violations and the recovery fund was required to pay a judgment of $8,000 from the fund, the frec must revoke the broker's license for being found guilty.
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Select all the correct answer.
What type of factor of production is a bulldozer?
Oland
O labor
O capital
O entrepreneur
Answer:
capital
Explanation:
bulldozer is bought with capital.
Positive economics ______ value judgments, tries to establish ______ statements about economic behavior, and deals with ______ economic events. Multiple choice question. avoids; scientific; actual avoids; normative; actual encourages; scientific; potential encourages; scientific; actual encourages; normative; potential
Positive economics avoids value judgments, tries to establish scientific statements about economic behavior, and deals with actual economic events.
What is positive economics?Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, when the price of a good increases, it is expected that if the good is a normal good, the quantity demanded would decline. This is an example of positive economics.
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Question 3 of 10
If you achieve excellence in music, film, dance, literature, or visual arts, you
might qualify for this type of scholarship.
A. Underrepresented student scholarship
OB. Athletic scholarship
OC. Academic scholarship
D. Creative scholarship
Answer: Creative scholarship
Explanation: Because
If you achieve excellence in music, film, dance, literature, or visual arts, you might qualify for Creative scholarship. The correct option is (D).
What do you mean by the Creative scholarship?When you reimagine an existing piece of art or construct a new one from scratch, you are engaging in creative scholarship.
For fine arts students with talents in the visual arts, there are numerous innovative scholarship opportunities. Photography and design-based disciplines like painting, graphic design, and animation are considered visual arts majors.
You can participate in your field as both a student and a scholar through research and creative scholarship. Development of new knowledge and its discovery with the intention of disseminating it through publications, performances, and presentations.
Therefore, if you achieve excellence in music, film, dance, literature, or visual arts, you might qualify for Creative scholarship.
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Owen's firm runs their critical applications in a public cloud. recently, their launch of a new product resulted in a surge of customer orders, but they were unable to ramp up their computing capacity fast enough, and some customer's experienced problems. this demonstrates which common issue with public cloud computing
The given scenario demonstrates the common issue with public cloud computing of Wide variations in performance over time
What is Public Cloud Computing?This refers to the IT model that makes use of computing services that are run by a third party and is available to the public for use.
Hence, we can see that based on the given description, Owen's firm runs their critical applications in a public cloud but they experienced fluctuations as some users were unable to effectively use it and this shows the wide variations in performance over time.
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what is the relationship between the amount of federal tax deducted from your paycheck and the number of dependents you claim on your W-4?
The relationship between the amount of federal tax deducted and the number of dependents is that the more dependents you have, the less federal tax you pay.
How do dependents affect income tax?Claiming dependents on your W-4 means that you are claiming allowances, and the higher the number of allowances claimed, the lower the tax withheld from you.
The logic behind this is that if you have more dependents, you will need more of your income to take care of them.
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Which of the international operations strategies involves a focus on cost reductions and high local responsiveness
The type of strategy where the international operations focus on higher reductions in cost and higher local alertness is called transnational strategy.
What is meant by the strategy?A strategy is a policy devised to achieve long-term objectives.
Transnational strategy is one of the strategies to keep in check the monetary transactions entered between various entities of different nations. A business is said to be transnational when it has its entire operations in one country but also has varied operations in other counties.
Therefore, the transnational strategy involves a greater reduction in costs and greater alertness at local levels.
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The process of assigning a good, a service, or a resource to one use instead of another describes:.
Allocation is the process which involves the assigning of goods, services or any such resources for one use, instead of deploying them at other alternatives available.
What is allocation?The way in which the available resources in the hands of a business organization are deployed for particular uses is known as allocation of such resources by a firm.
Hence, the significance of allocation is given above.
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Managers practice the art of getting things done using organizational resources such as: Multiple select question. information workers customers equipment
The managers get things done by using organizational resources such as: such as:
equipmentworkersinformationWhat is an art of getting things done?These involves the act of directing, organizing, coordination and guiding the organizational processes to achieve organizational goals.
Therefore, the Option A, B, D is correct.
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When you purchase the exact same office supplies you purchased in the previous quarter, you are making a
When you purchase the exact same office supplies you purchased in the previous quarter, you are making a straight rebuy.
What is a straight rebuy?
This is the type of purchase that a customer is known to buy that is in the same quantity and the same terms as the goods from the same supplier.
The perfect example of this is that people are known to visit the same coffee shop daily to make the same purchase.
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Have a clearance of how many inches in the left side of a vehicle
Some companies positively harness the power of rumors to multiple choice instill false confidence in investors. replace formal communications. create buzz about a new product launch. deflect interpersonal conflicts. achieve the boundaryless organization.
Some companies positively harness the power of rumors to create buzz about a new product launch. Option C. This is further explained below.
What are rumors?Generally, rumor is simply defined as a tale or report that is now doing the rounds but whose veracity is questionable.
In conclusion, In certain cases, corporations use the power of rumors to promote a new product introduction.
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Question Content AreaWhich of the following is true of the master budget? a.Variable costs cannot change from one month to another. b.The master budget can reflect seasonal effects. c.Fixed costs cannot change from one month to another. d.Monthly budgets are derived by dividing the master budget by 12. e.None of these choices are correct.
A master budget is such a budget where the fixed costs cannot change from one month to another; and monthly budgets are derived by dividing the master budget by 12.
What is a master budget?The method of budgeting, which involves the total or aggregation of small or sub-budgets, which is backed by a financial plan, is known as the preparation of a master budget.
Hence, option C and D hold true regarding master budget.
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