as the acceptable level of audit risk decreases, an auditor may group of answer choices reduce substantive testing by relying on the assessment of the risks of material misstatement. postpone the planned timing of substantive tests from interim dates to the year end. eliminate the assessed level of inherent risk from consideration as a planning factor. lower the assessed level of control risk from a high level to a low level.
Answers
As the acceptable level of detection risk increases, the assurance that must be provided from substantive tests can decrease. The auditor may change the timing of substantive tests from year-end to an interim date.
Business risk, non-business risk, and financial risk are the three categories into which hazards are generally divided. Risk refers to the future unpredictability of earnings or outcome variance from expectations. Risk measures the level of uncertainty that investor is willing to accept in exchange for a potential return on their investment. Description: Risks come in various forms and are caused by various circumstances. An auditor is someone or an organization hired by a business to carry out an audit. A person must be certified by the accounting and auditing regulatory body or meet specific requirements in order to practice as an auditor. A professional and impartial opinion on these financial statements is what the auditor or reviewer's job entails.
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Related Questions
Can anyone help me?
Saving money allows u to set more aside in a(n) ____ fund
Emergency
Bond
Exchange
Answers
Answer:
Saving money allows you to set more aside in an Emergency fund.
The Nevada Real Estate Commission consists of
A) four active real estate brokers or broker-salespersons and one public member
B) any combination of licensees and public members
C) five actively licensed brokers or broker-salespersons
D) five inactive brokers or salespersons
Answers
The Nevada Real Estate Commission consists of "four active real estate brokers or broker-salespersons and one public member." Option a is answer.
The Nevada Real Estate Commission is composed of four active real estate brokers or broker-salespersons and one public member. This composition ensures a balance between industry expertise and public representation in the decision-making process. The active real estate brokers or broker-salespersons bring their knowledge and experience from the real estate industry, allowing them to provide insights and perspectives that are relevant to the regulation and oversight of real estate activities.
The presence of a public member ensures that the interests of the general public are taken into account and helps maintain transparency and accountability within the commission. Together, this composition aims to promote fair and effective regulation of the real estate profession in Nevada.
Option a is answer.
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In which type of organizational structure is decision making made at the lowest level of the organization
Answers
Answer:
chain of command
Explanation:
The chain of command organizational structure simplifies decision-making. Employees at the lowest level of the company hierarchy complete the tasks assigned to them for that day.
The lowest level of the organization's hierarchy is where decisions are made in a chain of command organizational structure.
The authority-based ranking of members is known as organizational hierarchy. It alludes to the positions that range from entry-level workers to senior managers or executives.
Organizational hierarchies typically have several levels, with higher positions held by people with more power. A hierarchical organization or hierarchical organization is a type of organizational structure where all but one of the entities are subordinate to one another.
This set up resembles a hierarchy. In an organization, the power structure typically consists of one or more individuals or groups at the top, followed by command lower levels of power.
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Your Assignment, Part III
As the final part of this assignment, you will apply your understanding of tort law to scenarios in which a business is the defendant (or defendant tort-feasor). For each scenario, describe the specific type of tort case being brought against the defendant. Then, explain what the defendant will need to prove in order to get a ruling in their favor. Finally, describe the penalty that may be assigned to the defendant if the court rules against them.
1. Mr. Shanks goes to Hyperion Hospital to have a diseased kidney removed. After the surgery, he finds that his symptoms come back and grow even worse. When he returns to the hospital to find out what is happening, the hospital staff discovers that the surgeon removed Mr. Shanks’ healthy kidney instead of the diseased one.
a. What specific type of tort case against the business would this be? Explain.
b. What conditions does the plaintiff need to prove? What specific proof (if any) does the plaintiff have in this scenario? Organize this information into a table.
c. What penalty may the defendant expect (if any) as the outcome of this tort case, and why?
2. Two energy drink companies, Red Hornet and Blackout, have been competing with each other for years. In Blackout’s latest ad campaign, they have Red Hornet’s cartoon mascot making disparaging comments about its own product. Blackout’s ad also includes false claims that Red Hornet uses ingredients grown using slave labor. After the ad campaign runs, Red Hornet notices a drop in its energy drink sales.
a. What specific type of tort case against the business would this be? Explain.
b. What conditions does the plaintiff need to prove? What specific proof (if any) does the plaintiff have in this scenario? Organize this information into a table.
c. What penalty may the defendant expect (if any) as the outcome of this tort case, and why?
3. Larissa works at Opalescent, a high-end jewelry store. A customer comes in on a very busy day and complains about how long it takes for anyone to assist him. Larissa apologies, but the customer continues to complain. The customer, a very large man, soon begins insulting her personally and threatening her with violence. Larissa hits him with pepper spray, incapacitating him.
a. What specific type of tort case against the business would this be? Explain.
b. What conditions does the plaintiff need to prove? What specific proof (if any) does the plaintiff have in this scenario? Organize this information into a table.
c. What penalty may the defendant expect (if any) as the outcome of this tort case, and why?
Please Help:)
Answers
Answer:
ok
Explanation:
A historical example of is when communities used cocoa beans or cowrie shells as a kind of money. O commodity money O M3 O fiat money
Answers
A historical example of commodity money is when communities used cocoa beans or cowrie shells as a kind of money. Option a is correct.
Commodity money refers to a type of currency that has intrinsic value based on the commodity it represents. In this case, cocoa beans or cowrie shells were used as a medium of exchange because they were valued commodities in the respective communities. The value of the commodity itself determined its purchasing power, and it was widely accepted in trade transactions.
Unlike fiat money, which has no intrinsic value and relies on government authority for acceptance, commodity money derives its value directly from the commodity it represents. This historical example demonstrates the use of tangible and valuable commodities as a form of money in specific societies. Option a is correct.
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Of the users that accessed the website between April 1st and July 28th, how many were newvisitors and how many were returning (These numbers won’t necessarily add up to the totalnumber of users as a single user may visit a site several times which makes them both a newvisitor (on their first visit) and a returning user on any following visit)?
Answers
To determine the number of new visitors and returning users, we need specific data on user visits during the period between April 1st and July 28th. Without that data, it is not possible to provide the exact numbers of new visitors and returning users.
The distinction between new visitors and returning users can only be made based on individual user data, such as cookies or user accounts. To calculate the numbers, we would need access to the website's analytics or user tracking data, which would provide information on unique visitors and their visit history.
Without this specific data, it is not possible to determine the exact number of new visitors and returning users during the given period.
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Sue, of Sue’s Sandwich Shoppe, sells sandwiches and soda from a side walk cart. She sets up her care in the summers to raise money for college. Last month she sold $1,000 worth of product(sandwiches and sodas) to 100 customers. Her unit is one sandwich (COGs $4) plus one soda (COGS$1) How much is her Total COGS=____________________
Answers
Answer:
$500
Explanation:
The Costs of goods sold is the expense incurred while producing goods for sale. Costs of goods sold or COGS is the total direct cost production for goods sold in a period.
COGS = Beginning Inventory + purchases - closing Inventory
In this case,
the COGS for one soda is $4, and the COGS is $1.
the combined COGS is $5 ( $4 + $1)
Sue sells to 100 customers,
the total COGS = $5 x 100
=$500
Providing information and risk-sharing services
a. Decentralized market-based financial systems improve the allocation of saving by:
b. insuring capital gains exceed dividend payments.
c. eliminating the need for commercial banks or other financial intermediaries.
d. matching net capital inflows to net capital outflows.
Answers
a. Decentralized market-based financial systems improve the allocation of saving by:
Decentralized market-based financial systems improve the allocation of saving by facilitating efficient capital allocation through mechanisms such as stock markets, bond markets, and other financial markets
systems enable individuals and institutions to invest their savings in a wide range of investment opportunities, allowing capital to flow to projects with the highest return potential.
b. Insuring capital gains exceed dividend payments.
This statement is not accurate in the context of providing information and risk-sharing services. Insuring capital gains exceeding dividend payments is more related to investment strategies or specific financial instruments rather than the function of providing information and risk-sharing services.
c. Eliminating the need for commercial banks or other financial intermediaries.
Decentralized market-based financial systems do not eliminate the need for commercial banks or other financial intermediaries. While these systems provide direct access to financial markets, financial intermediaries still play a crucial role in facilitating transactions, providing liquidity, managing risks, and offering various financial services such as loans, deposits, and payment services.
d. Matching net capital inflows to net capital outflows.
Matching net capital inflows to net capital outflows is not a direct function of providing information and risk-sharing services. It pertains to the balance of payments in an economy , where capital inflows and outflows are accounted for in order to assess the overall external position of a country. While financial markets and institutions can play a role in facilitating capital flows, their primary function is not specifically focused on matching net capital inflows to net capital outflows.
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What does the law of increasing cost explain
Answers
The law of increasing costs holds that when production increases so do costs and its happens when all the factors of production are at maximum output.
What does the law of increasing cost means in economics?The law of increasing cost is an economic principle stating that when a supplier increases the production of a good, the opportunity cost of producing additional goods increases as well. The term "opportunity cost" refers to the opportunities and benefits that suppliers forego when they select one option over another and devote their resources to that option.
In other words, opportunity cost subtracts the cost of the chosen outcome from the cost of the alternative outcome. As the opportunity cost of producing a product rises, the manufacturing process becomes less efficient.
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1.Briefly describe some of the continued risks associated with outsourcing to Stretchum along with benefits to Chatham by collaborating with the supplier?
2.Considering the long-term relationship between Chatham and Stretchum, what kind of relationship has been sustained over the past 10 years? Secondly, what kind of relationship should be developed, and how should Chatham approach Stetchum?
3. Given the case information relevant to dispersed procurement activities across OnTarget, briefly discuss the interconnections to potentially reducing costs using ERP and the SCOR model framework to connect information flows throughout OnTarget.
4. Explain the supply chain attributes and measures that can be implemented to maximize cost reductions across OnTarget?
5. Explain the benefits that could may come from implementing a Supply Chain Advisory Council to oversee OnTarget growth initiatives and continued cost reductions?
Answers
Outsourcing to Stretchum carries risks such as quality control and dependence on a single supplier, but it can also bring benefits such as cost savings and access to specialized expertise. The relationship between Chatham and Stretchum has likely been a long-term partnership, and Chatham should aim to develop a strategic partnership going forward.
1. Risks associated with outsourcing to Stretchum:
Quality control: There is a risk that the products or services provided by Stretchum may not meet Chatham's quality standards, which could lead to customer dissatisfaction and reputational damage.
Dependence on a single supplier: By outsourcing to Stretchum, Chatham becomes heavily reliant on them for the supply of goods or services.
Communication and coordination challenges: Outsourcing involves working with an external partner, which can introduce complexities in terms of communication, coordination, and alignment of goals and objectives.
Benefits of collaborating with Stretchum:
Cost savings: Outsourcing to Stretchum may provide cost advantages due to lower labor costs or economies of scale, enabling Chatham to reduce expenses and improve profitability.
Focus on core competencies: By outsourcing non-core activities to Stretchum, Chatham can concentrate its resources and expertise on its core competencies, leading to improved efficiency and innovation.
2. The sustained relationship between Chatham and Stretchum over the past 10 years can be characterized as a long-term partnership. This partnership has likely involved regular interactions, collaboration, and mutual trust.
For the future, Chatham should aim to develop a strategic partnership with Stretchum. This means going beyond a transactional relationship and working towards a deeper integration of operations, shared goals, and mutual benefits.
3. Dispersed procurement activities across OnTarget can benefit from using an Enterprise Resource Planning (ERP) system and the Supply Chain Operations Reference (SCOR) model framework to connect information flows throughout the organization. By implementing ERP, OnTarget can centralize procurement data, streamline processes, and improve visibility across the supply chain. This integration enables better coordination, inventory management, demand planning, and cost control.
4. To maximize cost reductions across OnTarget, several supply chain attributes and measures can be implemented:
Lean principles: Implementing lean practices such as just-in-time inventory management, waste reduction, and continuous improvement can lead to cost savings.
Supplier collaboration: Developing strong partnerships with suppliers, sharing information, and collaborating on cost-saving initiatives can help optimize the supply chain.
Demand forecasting and planning: Accurate demand forecasting and efficient planning can reduce inventory carrying costs and prevent stockouts or overstock situations.
5. Implementing a Supply Chain Advisory Council to oversee OnTarget's growth initiatives and continued cost reductions can bring several benefits:
Strategic guidance: The council can provide strategic advice and direction to align supply chain activities with the company's growth objectives.
Cross-functional collaboration: By involving representatives from different departments, the council facilitates collaboration, communication, and coordination across the entire organization.
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what is a main reason business needs government regulations? select one: a. to assist in executing worthwhile causes b. to protect the interest of society and consumers c. to help companies be successful d. to provide financial assistance when needed
Answers
b) Businesses need government regulations to protect society and consumers by ensuring ethical operations, fair competition, consumer safety, and environmental sustainability.
The main reason businesses need government regulations is to protect the interest of society and consumers. Regulations ensure that businesses operate ethically, responsibly, and in compliance with standards that safeguard public health, safety, and fair competition. Government regulations help prevent fraudulent practices, misleading advertising, and the exploitation of consumers. They set guidelines for product quality, environmental sustainability, and workplace safety, ensuring that businesses prioritize the well-being of individuals and communities. Regulations also promote fair competition by preventing monopolies, price-fixing, and anti-competitive practices that could harm consumers or stifle innovation. By establishing a level playing field, regulations foster trust and confidence in the marketplace. Moreover, regulations play a vital role in sectors such as finance, healthcare, and food safety, where public oversight is crucial to maintain stability, protect vulnerable populations, and prevent systemic risks. Overall, government regulations balance the interests of businesses with the broader welfare of society and consumers.
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New Agency Debby Just got a job as an assistant in a new federal agency called the Accounting Commission that was set up to regulate the accounting and auditing profession. The agency is headed by commissioners who serve for fixed terms and cannot be removed except for cause. Additionally, no more than a majority of the commissioners may be from the same political party. Her agency is getting ready to Issue rules. The enabling legislation that set up the Accounting Commission specified that the agency could make rules but said nothing about the form of the rules. Debby's boss, Blare, gave her some proposed rules and asked her to be sure that they were published and to take care of the next step in the approval process. Blalte also told her that at this point she was not very interested in hybrid rule making. After publication, What would be the next step in obtaining enactment of the proposed rules?
A. vote in the United States Congress
B. Approval by the US president through the stance of an active order
C. Apublic hearing
D. An opportunity for parties to be witten comments
E. Ang before medie lige IAL
Answers
Answer:
D. An opportunity for parties to be written comments
Explanation:
New agency is making some new rules for legislation. Blare, the boss of Debby gave her some of the proposed rules and asked her to publish them for the people and prepare for the next approval process.
So for the next step after Debby provides a public notice to its citizens is the opportunity for the common public and the interested parties to study the rules and sends their thoughts and comments on the rules made so that the agency can analyze those comments and consider the positive views in the rules and can also respond to their comments.
Thus the correct option is (D).
Question 14 Not yet answered Marked out of 6.00 Flag question a) List and explain the three types of Data Analytics. (3 Marks) b) Explain how these three types are dependent on each other? (3 Marks) A
Answers
The three types of data analytics are descriptive, predictive and prescriptive analysis.
a) List and explain the three types of Data Analytics:
1. Descriptive Analytics: It is the type of analytics that describes data with the help of summaries, visualizations and key performance indicators (KPIs) to better understand a data set. Descriptive analytics includes the analysis of past data to draw insights, determine trends, or uncover patterns.
2. Predictive Analytics: Predictive Analytics involves the use of statistical algorithms to analyze current and historical data sets to identify patterns and predict future outcomes. This type of analytics requires data mining techniques to identify patterns and trends in data.
3. Prescriptive Analytics: Prescriptive analytics seeks to suggest optimal solutions to business problems by analyzing available data and determining the best course of action to achieve business objectives. It helps organizations to make informed decisions that optimize their business processes.
b) The three types of Data Analytics are dependent on each other in the following ways:
Descriptive analytics provides the foundation for predictive and prescriptive analytics, as it helps to identify patterns and trends in historical data that can be used to make predictions and suggest optimal solutions to business problems. Predictive analytics builds on descriptive analytics by using statistical algorithms to make predictions about future outcomes based on historical data.
Prescriptive analytics, in turn, relies on both descriptive and predictive analytics to provide insight into the best course of action to achieve business objectives. It provides organizations with the ability to optimize their business processes and make informed decisions based on available data.
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Frank is an employee of guitar makers, llc. guitar's employee manual states that workers, such as frank, will be dismissed only for good cause. with respect to the employment-at-will doctrine, this is
Answers
Answer: An exception based on contract theory.
Explanation:
Contract theory is an agreement reached by two parties over a set of deal to be entered, these negotiation met guides what the agreement is all about, violators of the agreement would attract extra bodies(Law makers) to come into their decision. At Ilc, if the guitar producers only release their workers based on good cause, it's seen as a contract theory, based on what both parties agreed.
When does the automatic 60-day extension period for qualified taxpayers impacted by federally declared disasters begin?.
Answers
The automatic 60-day extension period for qualified taxpayers is generally impacted on the earliest date of the declaration given by the disaster declarations.
What are the Qualified Taxpayers?A Qualified taxpayer who has decided to accept at least $50,000,000.00 in eligible capital investments, of which $25,000,000.00 must be made before the issuing of a certificate underneath this provision, and to generate at least half a million qualified new jobs are considered a qualified taxpayer.
Qualified Taxpayers can be broadly divided into two groups: individuals and corporations. Individuals - Taxpayers who must pay taxes on their income fall under this category. Corporations: These taxpayers are made to pay taxes on the profits they made from their business operations the previous year.
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A company determines that its weekly online sales, S(t), in hundreds of dollars, t weeks after online sales began, can be estimated by the equation below. Find the average weekly sales for weeks 2 through 9(t=1 to t=9). S(t)=9e^t
Answers
The average weekly sales for weeks 2 through 9 (t=1 to t=9) is approximately $435.15, calculated by finding the average value of the given exponential equation S(t) = 9e^t over the specified time period.
To find the average weekly sales for weeks 2 through 9, we need to calculate the average value of S(t) over that time period. The equation given is S(t) = 9e^t, where t represents the number of weeks after online sales began.
Calculate S(t) for each week from 2 to 9.
For t = 2, S(2) = 9e²≈ 243.91
For t = 3, S(3) = 9e³ ≈ 810.58
For t = 4, S(4) = 9e⁴ ≈ 2705.18
For t = 5, S(5) = 9e⁵ ≈ 9022.08
For t = 6, S(6) = 9e⁶ ≈ 30069.88
For t = 7, S(7) = 9e⁷ ≈ 100062.51
For t = 8, S(8) = 9e⁸ ≈ 333581.88
For t = 9, S(9) = 9e⁹ ≈ 1111118.87
Calculate the average.
To find the average, we add up the sales for each week (S(t)) and divide by the number of weeks (9 - 2 + 1 = 8).
Average = (S(2) + S(3) + S(4) + S(5) + S(6) + S(7) + S(8) + S(9)) / 8
Average ≈ (243.91 + 810.58 + 2705.18 + 9022.08 + 30069.88 + 100062.51 + 333581.88 + 1111118.87) / 8
Average ≈ 435.15
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In developed countries, at what age do individuals typically become grandparents?
Answers
In developed countries, at 40 years of age individuals typically become grandparents.
What are developed countries?A sovereign state that is considered to have a developed economy, a high standard of living, and advanced technological infrastructure is referred to as a developed country.
A developed country, often known as an industrialized country, has a sophisticated economy that is typically gauged by average income per person and/or gross domestic product (GDP). Developed nations have diverse industrial and service sectors as well as cutting-edge technology infrastructure.
The term "developed countries" often refers to wealthy nations, excluding Middle Eastern nations and certain other minor nations. Limitations:
(i) It only addresses the economic element while ignoring issues like peace, health, the environment, lifespan, education, etc.
(ii) The method does not show us how the income is distributed.
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Consider the following four-year project. The initial outlay or cost is $180,000. The respective cash inflows for years 1, 2, 3 and 4 are: $100,000, $80,000, $80,000 and $20,000. What is the discounted payback period if the discount rate is 11%?
Answers
The discounted payback period is approximately 3.19 years (3 years + 0.1911 * 1 year).
To calculate the discounted payback period, we need to determine the time it takes for the discounted cash inflows to equal or exceed the initial investment. First, we need to discount the cash inflows using the discount rate of 11%:
Year 1: $100,000 / (1 + 0.11)^1 = $90,090.09
Year 2: $80,000 / (1 + 0.11)^2 = $65,289.26
Year 3: $80,000 / (1 + 0.11)^3 = $58,098.47
Year 4: $20,000 / (1 + 0.11)^4 = $13,312.65
Now, we can calculate the cumulative discounted cash inflows:
Year 1: $90,090.09
Year 2: $90,090.09 + $65,289.26 = $155,379.35
Year 3: $155,379.35 + $58,098.47 = $213,477.82
Year 4: $213,477.82 + $13,312.65 = $226,790.47
The discounted payback period is the time it takes for the cumulative discounted cash inflows to reach or exceed the initial investment:
$226,790.47 > $180,000
The discounted payback period is between Year 3 and Year 4. To determine the exact period, we need to calculate the fraction of the final year's cash inflow needed to reach the breakeven point:
Fraction = (180,000 - 213,477.82) / 13,312.65 = 0.1911
Therefore, the discounted payback period is approximately 3.19 years (3 years + 0.1911 * 1 year).
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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
Answers
Answer:
capital
Explanation:
bulldozer is bought with capital.
The Production Function shows how total output changes when the amount of a single variable input changes while all other inputs are held constant. Which Economic Resource (Factor of Production) is usually the variable input?
Answers
Answer:
labor
Explanation:
They are four factors of production. They are labor, capital, land, and entrepreneurship.
Labor is compensation for human skills, knowledge, time, and energy. It is indicated as salary, wages, commissions, or allowances in the books of account. A company's labor expense is influenced by the number of workers it requires. A planned high output will require many workers, while a low-volume production needs fewer workers. Therefore labor is considered a variable cost.
Capital includes the finances, equipment, and machinery required to start a business. Capital is a fixed cost as capital requirements do not vary will the volume of output. Land and entrepreneurship are fixed costs as they are not expected to change in the s
what is IAAS define?
with example.
Answers
Answer:
IAAS is a cloud computing service model by means of which computing resources are hosted in a public, private or hybrid cloud.
Explanation:
The full form of IAAS is Infrastructure As A Service.
Answer:
AAS is a cloud computing service model by means of which computing resources are hosted in a public, private or hybrid cloud.
Explanation:
For an organization to ensure for the economic sustainability of its operations, the operations manajer must ensure that hot all of its designed calpacity is used. a: True h Palse Conditional
Answers
The statement "For an organization to ensure the economic sustainability of its operations, the operations manager must ensure that not all of its designed capacity is used" is false.
In order to ensure economic sustainability, organizations strive to optimize their operations and utilize their designed capacity efficiently. It is important for operations managers to maximize the utilization of their resources, including the designed capacity, to achieve productivity and cost-effectiveness. By effectively utilizing the designed capacity, organizations can minimize waste, reduce costs, and improve profitability. Therefore, the operations manager should aim to utilize as much of the designed capacity as possible to ensure economic sustainability.
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What is TRUE about non-depository financial institutions?
A.
They do not offer other types of accounts, such as savings and checking accounts.
B.
Traditionally, they focused on providing loans and other money management services.
C.
They are all federally insured.
D.
They include commercial banks and credit unions.
Answers
The truth that can be said about the non depository institutions is that They include commercial banks and credit unions.
What are non-depository financial institutions?This is the term that is sued to refer to the financial institutions that are not known to accept deposits of any forms from the customers that they have/.
These are the types of institutions that are known to perform other forms of financial services to their customers. But when it comes to taking deposits they are not to function in such an aspect.
Hence we would say that the institutions are made up of the commercial banks and they also involve the credit unions.
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Adoption of ASC Topic 842 related to leases represents a Multiple Choice o voluntary change in accounting principle.o mandatory change in accounting estimate. o voluntary change in accounting estimate. o mandatory change in accounting principle. Which of the following accounting principle changes typically is reported prospectively? Multiple Choice o Adopting ASC topic 606 on revenue recognition on the standard's effective date. o Changing inventory method from LIFO to FIFO.o Changing inventory method from FIFO to LIFO.o Changing reporting of investments from the equity method to the fair value method. ASC Topic 606 on Revenue Recognition requires which transition method? Multiple Choice o Modified retrospective approach o Full retrospective restatement o Retrospective restatement or prospective approach o Full retrospective restatement or modified retrospective approach
Answers
Adoption of ASC Topic 842 related to leases represents D. mandatory change in accounting principle.
What exactly is ASC 842 adoption?According to the ASC 842 standard for GAAP lease accounting, all leases lasting more than 12 months must be recorded as assets and liabilities on balance sheets. This new standard was developed by the Financial Accounting Standards Board (FASB) to promote greater transparency between investors and businesses.
A contract is or contains a lease if the contract conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration," states ASC 842-10-15-3.
A change in accounting principle may be required by newly issued guidance or as a result of the reporting entity's decision to adopt a different accounting principle because it is preferable.
Therefore, based on the information, the correct option is D.
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In this activity we will discuss consumer preferences.
Read
McDonald's unveils its own meatless patty — the "McPlant"
Watch
Meatless meat a sizzling hot market (1:16)
Explore & Post
Check out the data at https://plantbasedfoods.org/marketplace/consumer-insights/ and answer these questions:
Where do you fall in the spectrum of consumer shopping preferences for food and what generally drives your purchasing decisions?
How have your preferences changed over time? Explain your preferences.
Answers
In this activity, we discuss consumer preferences in the context of McDonald's unveiling its meatless patty called "McPlant" and the growing market for meatless meat. Consumer shopping preferences for food and purchasing decisions can be driven by various factors such as taste, health, environmental impact, and personal beliefs.
How does market research help in purchasing decisions?
1. Reflect on your current food preferences: Consider the types of food you typically buy and consume. Are you inclined towards plant-based, animal-based, or a mix of both products?
2. Identify the factors influencing your decisions: Determine what factors drive your purchasing decisions, such as taste, nutrition, price, convenience, or ethical considerations.
3. Assess changes over time: Think about how your preferences have evolved throughout your life. Have you shifted towards or away from certain food types or choices due to changes in your lifestyle, health, or beliefs?
4. Explain your preferences: Analyze the reasons behind your preferences and the changes you've experienced over time.
By following these steps, you can gain a better understanding of your consumer shopping preferences for food and the factors that drive your purchasing decisions. Additionally, you can reflect on how your preferences have changed over time and the reasons behind those changes.
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(5. From the age distribution, if a country has more workforce that fall between
56 years and above, what are the likely economic effect on such a country?
Answers
Answer & Explanation: Aging workforce refers to the part of working individuals that has reached a certain age and beyond often 40 years and above.
Having more aging workforce is HARMFUL for economic growth. This is so because an aging workforce will lead to a decline in labour participation rate due to the retirement age for kost countries. This will also lead to an increase in social security tax and eventually a decline in productivity.
What is the critical step in capturing charges and identifying billing items?
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The critical step in capturing charges and identifying billing items is the accurate and thorough documentation of all services, procedures, and resources provided to the patient.
Accurate and thorough documentation plays a critical role in capturing charges and identifying billing items within healthcare organizations. It involves documenting all relevant details related to patient encounters, services rendered, procedures performed, and resources utilized.
Proper documentation enables healthcare organizations to accurately capture charges for the services rendered. It ensures that every service or procedure performed is adequately documented, including the date, time, and specifics of the service. By capturing charges promptly and accurately, healthcare organizations can optimize their revenue generation and maintain financial stability.
In summary, accurate and thorough documentation is the critical step in capturing charges and identifying billing items. It ensures that all provided services are properly documented, allowing healthcare organizations to generate accurate invoices and submit claims for reimbursement.
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what are additional features of the ikea concept (beyond its design process) that contribute to creating exceptional value for the customer?
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IKEA is a world-renowned furniture company that specializes in a range of goods, including furniture, mattresses, kitchenware, lighting, and textiles. IKEA is known for its minimalist yet elegant style, which is well-known throughout the world.What are additional features of the IKEA concept (beyond its design process) that contribute to creating exceptional value for the customer
IKEA is an excellent example of a company that uses a low-cost strategy to provide its consumers with high-quality goods at a reasonable price. However, IKEA's low-cost strategy goes beyond the product's design process to include a variety of other components that add to the customer's experience.The following are some of the additional features of the IKEA concept that contribute to creating exceptional value for the customer:Innovative design that is user-friendly: IKEA's designers create furniture that is both beautiful and user-friendly. The products are intended to be simple to construct and use, making them more accessible to a larger number of consumers.A huge range of products: IKEA has a vast range of goods, including everything from bedding to lighting, making it a one-stop-shop for customers. This eliminates the need for customers to go to different shops to get what they need.Cost-effective logistics: IKEA has a well-designed logistics network that allows it to transport products from its warehouses to its retail locations with ease. This guarantees that the products are available to the consumers at the lowest possible price.IKEA's philosophy of simplicity and cost-effectiveness has helped it to become a market leader in the furniture industry. IKEA's consumers get high-quality goods at a reasonable price thanks to the combination of these factors.
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Milden company is a distributor who wants to start using a contribution format income statement for planning purposes. the company has analyzed its expenses and developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter because shipping expense is a mixed cost, the company needs to estimate the variable shipping expense per unit sold and the fixed shipping expense per quarter using the following data: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 required: 1. using the high-low method, estimate a cost formula for shipping expense in the form y
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The cost formula for shipping expense is y = $28,000 + $9.1x where x represents the number of units sold.
To estimate the cost formula for shipping expenses using the high-low method, we need to identify the highest and lowest levels of activity and the corresponding total costs. From the data provided, it appears that the highest level of activity is in Year 2, the third quarter with 20,000 units sold and a shipping expense of $210,000. The lowest level of activity is in Year 1, a first quarter with 10,000 units sold and a shipping expense of $119,000.
The variable cost per unit can be calculated as the change in cost divided by the change in activity: ($210,000 - $119,000) / (20,000 - 10,000) = $9.1 per unit.
The total fixed cost can be calculated by subtracting the total variable cost from the total cost at either the highest or lowest level of activity. Using the highest level of activity: $210,000 - ($9.1 * 20,000) = $28,000.
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Q9. Good and Proper Tea was founded in 2012 by Emilie Holmes. The business website states: We source our teas from around the world, from Kenya to India, Japan to China and many more places in between. It is important to us that we know exactly where each tea comes from and who is responsible for harvesting the leaves we buy. We will always share this information with our customers'. The business started when Emilie converted an old Citroën van (pictured right) into a mobile brew bar. Emilie wanted to expand the business. To achieve this she needed finance. She decided to raise finance using crowdfunding through the Kickstarter website. 372 individual backers each provided between £1 and £1000. Good and Proper Tea was launched. The first cup of tea was brewed and sold in Shoreditch, London, in 2012. The success of the mobile business led Emilie to plan to open a shop selling the same high-quality teas. Once again she decided to use crowdfunding as her source of finance. This time, using the Crowdcube website, she successfully raised £140,000. The shop was opened in 2016 and is very successful. As Good and Proper Tea imports its most important ingredient, it is affected by changes in the exchange rate. Recent changes in the value of the pound mean that its costs have increased. Evaluate whether crowdfunding is an effective source of finance for Good and Proper Tea. You should use the information provided as well as your knowledge of business. (Total for question = 12 marks)
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According to the data given, crowdfunding has been a successful method of funding for Good and Proper Tea. Using crowdsourcing, the business was able to successfully raise money twice.
Why is crowdfunding a successful means of raising money?Making direct ties with the general people is one of the main benefits of crowdfunding. You toss your idea out into the world, you offer to raise finances in exchange for either a tangible product or other relative presents, and voilà.
How successful is crowdsourcing?The typical success rate for campaigns on crowdfunding platforms is 22.4%. In fact, just 25 percent of crowdfunding initiatives succeed in reaching their objectives.
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