A standard deduction is a single, predetermined-dollar amount deduction.
What is a tax deduction?A provision that lowers taxable income is known as a tax deduction. A standard deduction is one lump sum deduction with a set dollar amount. Higher-income taxpayers generally have substantial deductible expenses, such as state and local taxes paid, mortgage interest, and charitable contributions, making itemized deductions popular among them.
The standard deduction is a defined amount that the government has established that you can deduct from your taxable income. The amount of income that is subject to tax is decreased when you provide this number on your yearly tax return. The standard deduction is adjusted for inflation each year and takes into account how you file your taxes.
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Answer:
2, 490.28
Explanation:
Its simple math. 52 weeks in a year- times the amount of federal tax per week. :))
Brenden Corp. manufactures products at the lowest cost possible. It strives to keep its manufacturing costs low and its product prices competitive. It does not provide technical support for its products as providing such support would add to its cost without earning any profit. Given this information, which of the following statements is most likely true of Brenden Corp.
Given the above information, the statement that is true is that Brenden Corp focuses on efficiency at the expense of effectiveness.
What is manufacturing cost?Manufacturing cost comprises totality of all cost that is used in production. It includes all costs necessary to get a finished product from raw materials.
Manufacturing costs consist of the following:
Cost of the raw materialsThe workers' wagesConsumables like water and lubricants, machine depreciation, factory expensesWith regards to the above, the company tends to focus more on efficiency at the expense of effectiveness by keeping manufacturing costs low which make its product prices competitive.
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(02.02 MC) Schleiden concluded all plants are made of cells and Schwann concluded the same thing about animals. Together, how did they contribute to cell theory
1839 was the year when the conclusion was reached that all tissues are composed of cells; this established the basis for the cell hypothesis. Schwann was also involved in the fermentation process, which led to the discovery of the enzyme pepsin. This is further explained below.
What is cells theory?Generally, cell biology as is known today. cells proliferate and transmit genetic information; energy flows inside cells. noun. the notion that cells are the fundamental structural, functional, and organizational components in both single-celled and multicellular animals.
The conclusion that all tissues are composed of cells was reached in 1839; this established the basis for the cell hypothesis. Schwann was also involved in the process of fermentation, during which he discovered the enzyme pepsin.
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Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $1,600 per unit, of which $1090 is product cost and $510 is selling and administrative expenses. In addition, the total cost of $1,600 is made up of $910 variable cost and $690 fixed cost. The desired profit is $320 per unit. Determine the markup percentage on total cost. fill in the blank 1 %
Based on the cost of making the product to Jamison Company, and the desired profit, the markup percentage on total cost is 20%.
What is the markup percentage?The markup percentage on total cost can be found as:
= Desired profit / Total cost
Solving gives:
= 320 / 1,600 x 100%
= 0.2 x 100%
= 20%
In conclusion, the markup percentage is 20%.
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The concept of ________ involves tracking the activity and preferences of a single potential customer and then tailoring products or ads for that individual according to their behaviors?
The concept of Marketing involves tracking the activity and preferences of a single potential customer and then tailoring products or ads for that individual according to their behaviors?
What is Marketing?Marketing entails the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
This Involves the art of promoting and selling products or services, including market research and advertising.
Marketing can be done physically or electronically. Studies have shown that electronic marketing has the potential of reaching a large audience and this is why a lot of companies spend so much money and resources in advertisement.
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The auditors include an emphasis-of-matter paragraph in an otherwise unmodified report on the entity's financial statements to emphasize that the entity being reported on had significant transactions with related parties. The inclusifis considered a qualification of the opinion.on of this separate paragraph
The auditors include an emphasis-of-matter paragraph in an otherwise unmodified report on the entity's financial statements to emphasize that the entity being reported on had significant transactions with related parties. The inclusive considered a qualification of the opinion. One of these separate paragraphs is appropriate and would not otherwise affect the unmodified opinion.
Accounting Statements: What Are They?The business operations and financial performance of an organization are described in financial statements, which are written records. To ensure accuracy and for tax, financing, or investing purposes, financial statements are frequently audited by government entities, accountants, corporations, etc. Financial statements include the
balance sheetearnings statementCash flow reportWhat Are the Three Financial Statements That Are Most Important?
The balance sheet, income statement, and cash flow statement are the three most crucial financial statements. These three statements collectively display a company's assets, liabilities, revenues, expenses, and cash flows from financing, investing, and operating operations.
What Constitutes the Major Items in Financial Statements?
The line items in a financial statement might vary depending on the organization, but the most typical ones include cash, marketable securities, inventories, short-term debt, long-term debt, accounts receivable, accounts payable, and cash flows from investing, operating, and financing operations.
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Jamie Dimon, the CEO of J.P. Morgan, released a letter he had written to employees to the press. Fortune, a leading business magazine, reported the full contents of the letter and the context. This is an example of ________ communication.
Jamie Dimon, the CEO of J.P. Morgan, released a letter he had written to employees to the press. Fortune, a leading business magazine, reported the full contents of the letter and the context. This is an example of external communication.
External communications are the techniques responsible for speaking with people and entities outside your business enterprise. those encompass customers, companies, suppliers, companions, traders, authorities businesses, law enforcement, and others.
External communication commonly consists of e-mail, brochures, newsletters, posters, advertisements, and other sorts of multimedia advertising designed to draw clients, partners, and providers to conduct worthwhile commercial enterprise transactions.
A strong outside communication strategy facilitates selling the brand, increasing popularity, definitely forming the general public's perception of the emblem, and in the long run pressure more income.
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The pricing strategy that calls for a new product being priced high to make optimum profit while there is little competition is called a(n) price strategy.
The pricing strategy that calls for a new product being priced high to make optimum profit while there is little competition is called as Skimming price strategy
Skimming Pricing, also known as price skimming, is a pricing strategy that sets the price of new products higher and lowers them when competitors enter the market. Skimming prices are the opposite of penetration prices, which set lower prices for newly launched products in order to build a large customer base from the beginning.
Skimming pricing strategy refers to setting relatively high initial prices for new products or services for early adopters who are not price sensitive when there is a strong relationship between price and perceived quality. .. Prices can go down over time.
An example of a skimming strategy can be found primarily when major technology companies such as Apple, Samsung, and Sony are developing new technologies that are known to be in high demand.
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The deadweight loss from a tax is likely to be greater with a good that has Select one: a. many substitutes. b. an inelastic demand. c. few substitutes. d. an inelastic supply.
The deadweight loss from a tax is likely to be greater with a good that has many substitute.
What is deadweight loss?This refers to scenario, tax imposed create loss of economic sufficiency; when the supply of goods and services aren't met.
Dead weight loss is the inefficiency that occurs when the market is not in equilibrium.
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Before groups progress to a level of deeper work, which we refer to as the working stage, they typically experience a?
Before groups progress to a level of deeper work, which we refer to as the working stage, they typically experience a Transitional Phase. This is further explained below.
What is the Transitional Phase?Generally, It has been sought for a very long time for the transitional phases that occur during the course of human development. These phases split the overall process of development into several segments. These transitory stages are often seen to be at least begun by physical or biological changes and to be followed by psychological or mental changes. This is the case in the majority of cases.
In conclusion, In most cases, a transitional phase is required before a group may go on to the working stage, which refers to a degree of more intensive activity.
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Victoria, a shift manager in a shoe factory, directly supervises 40 employees on her shift. The 40 workers who report directly to victoria represent her.
Victoria, a shift manager at a shoe store, has 40 employees in her shift and manages them directly. The 40 workers who report directly to her Victoria represent her unity of leadership.
Span of control
Span of Control can be defined as the total number of direct subordinates that a manager can control or manage. The number of subordinates managed by a manager varies depending on the complexity of the work.
B-hierarchy of authority--The type of hierarchical structure this page describes is often called the 'hierarchy of authority. An employee's level of authority is greater the higher they are in the hierarchical structure.
C-Span of direction--When you place a structural floor, a span direction component is placed in plain view along with the structural floor. The span direction component is used to change the orientation of the steel deck in the plan.
D-Unity of command --Under the principles of war, unity of command means that all the forces fall under one responsible commander.
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A balanced strategic business unit (SBU) portfolio: Group of answer choices Generates a cash deficit. Is equity funded. Is cash flow neutral -- does not require external debt or equity capital. Maintained through mergers and acquisitions. None of these answers is correct.
The answer is cash flow neutral- does not required external debt or equity capital.
A cash flow neutral strategic business unit (SBU) portfolio does not require external debt or equity funding. A well-balanced strategic business unit portfolio generates neutral cash flow and does not require additional external debt or equity capital funding.
Companies such as Proctor & Gamble, LG, and others are excellent examples of SBU. These businesses offer a variety of products under one roof. LG, for example, manufactures consumer durables. It manufactures refrigerators, washing machines, air conditioners, and televisions.
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Advantages of debt financing over equity financing include that ______. (Check all that apply.) Multiple select question. debt financing does not require repayments interest payments are optional interest payments are tax deductible stockholders' control will not be diluted
Advantages of debt financing over equity financing include that interest payment on debt are tax deductible
What is debt financing?
Borrowing funds from banks, financial institutions, or other lenders (such as directors or other group companies).
When a company raises funds for working capital or capital expenditures by selling debt instruments to individuals and/or institutional investors, this is referred to as debt financing. Individuals or institutions that lend money become creditors in exchange for a promise that the principal and interest on the loan will be repaid.
What is equity financing?
Equity financing is the process of raising capital through the sale of shares. Companies raise money because they might have a short-term need to pay bills or have a long-term goal and require funds to invest in their growth. By selling shares, a company is effectively selling ownership in their company in return for cash.
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When does a corporation record an increase in Dividends Payable? Multiple choice question. On the declaration date On the date of record On the date of payment On the date of issuance
Option a) is correct.
A corporation record an increase in Dividends Payable on the declaration date.
Difference Between a Dividend Record Date and Payable DateThere are a few crucial dates that investors need to be aware of when a firm decides to pay dividends to its shareholders.
The Board of Directors declares the dividend, its amount, record date, and payment date on the declaration date.In order to be eligible to receive the announced dividend, you must be listed as a shareholder on the company's books by the record date.If you own the stock before the ex-dividend date, you will receive the dividend; if you purchase the stock on or after the ex-date, the seller of the stock will receive the dividend.The corporation only pays the announced dividend to shareholders who owned the stock prior to the ex-date on the payable, or payment day.Learn more about Dividend Record Date and Payable Date here:
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Assume that Cane normally produces and sells 79,000 Betas and 99,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 12,000 units. What is the financial advantage (disadvantage) of discontinuing the Beta product line
The financial advantage (disadvantage) of discontinuing the Beta product line is take contribution margin of dropped product as a negative, add traceable fixed OH of dropped product.
Beta product lineIn order to find any defects or difficulties before a general release, beta product line testing gives actual users the chance to utilize a product in a production setting. Before making a product available to a large public, beta product line testing is the last stage of testing. The goal is to find as many defects or usability problems in this confined environment as you can.
A production environment using the same hardware, networks, etc. as the final release is used by beta testers, who are "actual" users, to do their testing. Additionally, since these tests cannot be carried out in a lab or stage setting, this presents the first opportunity for comprehensive security and reliability testing.
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The EBIT-EPS indifference point:__________
a. identifies the sales level at which EBIT equals EPS. Incorrect
b. identifies the point at which the analysis can use EBIT and EPS interchangeably.
c. identifies the EBIT level at which the EPS will be the same regardless of the financing plan.
d. identifies the level of earnings at which the management is indifferent about the payments of dividends.
EBIT-EPS indifference points if calculated by financial advisors of a company.
The correct answer is c. Identifies the EBIT level at which the EPS will be the same regardless of the financing plans.
What is EBIT?An EBIT is Earning Before Interest and Tax which determines a company's profitability before the tax expense and interest expense.
The company's income statements presents EBIT as a profit and then after tax profit is reported by deducting tax expense for the year, calculated on the rate of tax in the jurisdiction of the company.
EPS is Earnings per share, this is calculated as total Earnings of the company are divided by the total number of shares of the company.
EPS is calculated and reported in the face of the financial statements. It is useful information for the users of the financial statements.
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The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies.
The statement "The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies." is false.
Sarbanes-Oxley Act placed the obligation of responsibility for a company's financial reporting squarely on the shoulders of its top executives in order to safeguard investors from corporate accounting fraud.
It required chief executive officers (CEOs) and chief financial officers (CFOs) to personally attest to the correctness of the information in financial reports and to affirm that controls and procedures were in place to evaluate and verify that accuracy.
In reality, CEOs and CFOs had to personally certify that financial reports complied with Securities and Exchange Commission(SEC) rules by signing them. Failure to comply with this might result in fines of up to $15 million and 20-year prison terms.
Hence, the given statement is false.
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A new green technology can be installed in your home for a one-time installation cost of $\$10,\!000$ and annual maintenance costs of $\$650$ per year. If the green technology is supposed to save you $\$1200$ each year in energy bills, how many whole years will it take to recuperate your costs
The number of years it would take to recuperate the costs is 19 years.
How many years will it take to recuperate your costs?
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows.
Payback period : 10,000 + 650x = 1200x
Where x represents the number of years
10,000 = 1200x - 650x
10,000 = 550x
x = 10,000 / 550
x = 19 years
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The number of whole years to recuperate your investment costs in the new green technology is 19 years, using the break-even analysis technique.
What is the break-even analysis technique?The break-even analysis technique offers a way to compute the payback period.
The break-even analysis technique equates the total costs to the total revenue, using the contribution margin approach.
Data and Calculations:Fixed costs = $10,000
Annual variable costs = $650
Annual savings = $1,200
Annual contribution margin = $550 ($1,200 - $650)
Break-even period = 18.18 years ($10,000/$550)
Thus, using the break-even analysis, the number of whole years to recuperate your investment costs in the new green technology is 19 years.
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Management has reason to believe that someone internal to the organization is committing fraud. To confirm their suspicion, and to collect evidence, they need to set up a system to capture the events taking place. Evaluate which option will best fit the organization's needs.
In order to uncover a fraud there are certain ways and protocols that can be followed described below:
What is a Fraud?Fraud is an act of earning a gain through a wrongful source, the fraud may be performed by an individual or a group of individuals. The need to identify this is important that whether the fraud committer is an individual or there is a group of people doing it.
The first is to identify and confirm that a fraud is happening, gathering all the evidences regarding this, then the evidence should be gathered which identifies the individual committing fraud, this can involve the suspicious individuals to be monitored for their activities.
In the last the fraud committer should be provided with a warning or terminated or fined or a case can be filed in the court of law for this depending on the level of fraud.
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One structured approach for integrating customer requirements into every aspect of product development is:
A structured approach to integrating customer requirements into all aspects of product development is the implementation of the quality function deployment.
What is Quality Function Deployment?It is a Japanese approach developed in 1966 whose focus is on defining the transformation of potential customers' needs into products and services that will generate value and positioning for the company.
Therefore, this structured approach will help organizations to achieve increased customer awareness and competitiveness in the market.
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When Amazon introduced the latest Kindle Fire tablet at $49.99 and the average price of competitive models was $323, Amazon was using a ________ pricing strategy.
When Amazon introduced the latest Kindle Fire tablet at $49.99 and the average price of competitive models was $323, Amazon was using a "penetrating pricing strategy".
What is penetrating pricing strategy?Particularly, rival pricing has a significant influence on penetration pricing. With this pricing model, a fresh good or service is provided for less money.
Some key features of penetrating pricing strategy are-
The tactic enables a first-time product to draw in new clients by drawing them away from other businesses.By presenting a new product or service at a cheaper price during its initial release, firms can draw people to it through the marketing tactic known as penetration pricing. A new product or service can enter the market more easily and draw customers away from rivals by offering a lower price.The idea of a penetration strategy is to work aggressively to significantly increase one's share of total sales in a market.A business may often make things or purchase goods at a lesser cost as a result of the increasing sales volume, which increases its profit margin.T o know more about Penetration pricing, here
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Marco is in the navy and is a member of the navy’s bank, which is controlled by its depositors. he has a share account. this financial institution is most likely to be a(n)________.
This type of financial institution is a savings bank. Savings bank is financial institutions that collect savings and reward savers with interest or dividends. It transfers savings from people who want to live within their means to borrowers who want to spend more.
Instead than hoarding cash at home, it is preferable to deposit it in a savings account where you can earn interest while keeping it safe. Investor also has access to a variety of investment options by maintaining a account with any savings bank. TD Bank and Citibank are two instances of retail banks, corporate or commercial banks.
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Which of the following contingent liabilities would require a company to record a note to the financial statements
The following contingent liabilities would require a company to record a note to the financial statements:-
a.) The liability is possible and cannot be reasonably estimated.
b.) The liability is probable and cannot be reasonably estimated.
c.) The liability is possible and is estimated to be $35,000.
Correct answer is option 1 , 2 & 4 .
Eligible contingent liabilities are recognized as expenses on the income statement and as liabilities on the balance sheet. If the chance of accidental loss is low, i. H. With a probability of less than 50%, the liability should not be recognized on the balance sheet.
Contingent liability is disclosed when it is likely that a transfer of economic benefits will be required to resolve it without making a provision.
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Your question is incomplete. please read below to find the full content.
Which of the following contingent liabilities would require a company to record a note to the financial statements
The liability is possible and cannot be reasonably estimated.
The liability is probable and cannot be reasonably estimated.
The liability is remote and estimated to be $15,000.
The liability is possible and is estimated to be $35,000.
The liability is remote and cannot be estimated.
The liability is probable and estimated to be $40,000.
When a government establishes a marketable permit program to address environmental pollution, it is actually issuing a form of command-and-control regulation. pollution tax. permit to pollute. inflexible, costly regulation.
A government is issuing a permit to pollute when its establishes a marketable permit program to address environmental pollution.
What is a marketable permit program?This refers to a a program in which a city / state government issues permits allowing only a certain quantity of pollution such as water, noise, air pollution into the environment.
In other times, the permits to pollute can be sold or given to firms free and the pollution charge can also be a tax imposed on the quantity of pollution that a firm emits.
Hence, the government is issuing a permit to pollute when its establishes a marketable permit program to address environmental pollution.
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Answer:
the correct answer is permit to pollute
Explanation:
(econ1101)
The negotiated labor-management agreement that clarifies the terms and conditions under which management and a union will operate for a specified period is also known as a(n) .
Union security clause is the negotiated labor-management agreement that clarifies the terms and conditions.
What is the Union security clause?This is the clause that is used in collective bargaining to enforce certain rules.
The clause has it that if an employee does not belong to a particular bargaining unit, then they can be excluded.
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If net income is $115,000 and interest expense is $30,000 for 2010, and the market price is $30, what is the price-earnings ratio on common stock for 2010. (round to one decimal point)?
The price-earnings ratio on common stock for 2010 is 10.1%.
The price-earnings ratio, sometimes referred to as the P/E ratio, P/E, or PER, measures how much a company charges for its shares to how much it earns per share. The ratio is employed to evaluate businesses and determine if they are over or undervalued.
The price/earnings ratio, often known as the P/E ratio, informs investors of the value of a company. The P/E ratio is simply the stock price divided by the company's EPS for a given time period, such as the previous 12 months. How much investors are willing to pay per share for $1 of earnings is expressed by the price/earnings ratio.
Price earnings ratio
=(net income +interest expense / avg. total assets
=(115,000+30,000)/(((600,000+60,000+900,000)+(560,000+40,000+700,000)/2)))
=10.1%
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Read each transaction and identify the appropriate journal that it should be recorded in ;1. Owner withdrew supplies 2. Sale made on account 3. Payment to vendor on account 4. Payment received from customer on account 5. Purchases on account 6. Adjusting journal entry for supplies used 7. Owner withdrew cash 8. Company borrows money from bank 9. Record monthly depreciation 10. Close revenue accounts at month end All answer would be 1 Cash disbursement journal 2cash receipts journal 3 general journal 4 purchase journal 5 sales journal
The journal entries are given below:
1.
Drawings Debit
Supplies/Inventory Credit
2.
Accounts Receivable Debit
Sales Credit
3.
Accounts Payable Debit
Cash Credit
What is Inventory?An inventory is the current asset of a company that the company sells to earn profits, this inventory is also called as stock and supplies sometimes. The inventory is presented in the financial statements in the Statement of financial position under the current asset's head.
4.
Cash Debit
Accounts Receivable Credit
5.
Purchases Debit
Account Payable Credit
6.
Work in process Debit
Supplies Credit
7.
Drawings Debit
Cash Credit
8.
Cash Debit
Loan Payable Credit
9.
Depreciation Expense Debit
Accumulated Depreciation Credit
10.
Revenue Debit
Income Statement Credit
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When two or more organizations combine to become one, it is referred to as a(n)?
When two or more organizations combine to become one, it is referred to as a merger.
What are the 3 types of mergers?
Vertical, horizontal, and conglomerate mergers are the three basic forms of mergers.
Horizontal Merger- Companies at the same stage in the same industry unite in a horizontal merger to cut costs, increase product options, or lessen competition.Vertical Merger- In a vertical merger, a business acquires another business in the same sector that is frequently active at an earlier or later point in the manufacturing or sales process.Conglomerate Mergers -To lower risk, conglomerates consolidate firms that are unconnected to one another.Learn more about Mergers: https://brainly.com/question/16557059
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Company managers should give serious consideration to changing from a low-cost /low price strategy for branded footwear to a different strategy when
Company managers should give serious consideration to changing from a low-cost /low price strategy for branded footwear to a different strategy when competition is high among competitors.
Who are competitors?Competitors are individual or people that sell similar products and commodities.
They can be wholesaler or retailers and are usually present in all business.
When there are competitors new strategy should be developed to help get enough sales such that the individual or company do not fall out of sales or market
Therefore,
Company managers should give serious consideration to changing from a low-cost /low price strategy for branded footwear to a different strategy when there is competition.
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How monthly bank cash reconciliation, an internal control practice, could be useful in identifying cash embezzlement?
Bank cash reconciliation, an internal control practice, could be useful in identifying cash embezzlement as because in order to prevent and detect fraud, bank reconciliations are a crucial internal control tool.
What is Bank cash reconciliation?A bank reconciliation statement compares an entity's bank account to its financial records and describes banking and commercial activity. Statements of bank reconciliation attest to the processing of payments and the depositing of cash earnings into a bank account.
Some characteristics of bank cash reconciliation are-
By explaining the discrepancies between the cash balances in the accounting record and the bank balance position according to the bank statement, they also assist in identifying accounting and banking problems.The likelihood of errors in the data used to produce accounts is decreased by the bank reconciliation process, which makes sure that all transactions that have been recorded on the bank statements have been examined and verified.By confirming that all payments and transactions that have passed through the bank account have likewise been noted in the accounting records, bank statements also serve to assure completeness. Any variations are noted and explained.All reconciling discrepancies must be noted, and any journal entries required to correct them must be recorded no later than 90 days after the reconciliation has been completed.
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Assume the cost of a gym membership is $25 per month and $9 for each class you take. What function represents your total gym cost for one month? be sure to indicate any domain restrictions
The $35 per month function represents your total gym cost for one month of domain restrictions.
$8 Per Class
f(x,f) = 35x+8f x, f ≥ 0
N IV Here x ерresent months.
f represents no- of classes.
The three functions with limited domains are the square root function, the logarithm function, and the reciprocal function.
The domain of f (x) = x2 - 6 is also because f (x) is defined for all real numbers x. However, some functions are not defined for all real numbers, so they are evaluated in a limited range. For example, the domain of f(x) = cannot take the square root of a negative number.
Domain restrictions allow you to create functions defined through numbers to create functions that are fit for purpose. A piecewise-defined function is a composition of multiple functions with non-overlapping domain constraints. Some functions are restricted to values that make them undefined.
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