The amount of cost of goods sold by the company reported was $67,200.
Given,
Campus computer store sales revenue - $168,000
Gross profit percentage - 60%.
Thus,
Gross profit= sales revenue - cost of goods sold
Sales - $168,000
Cost of goods sold - ?
Gross profit = $168,000 * 0.6 = $100,800
Cost of goods sold = $168,000 - 100,800
Therefore, Cost of goods sold = $67,200
Cost of goods sold is the total of all costs which is used in order to create a product or service, which has been sold. Cost of Goods Sold measures the direct cost incurred in the production of any goods or services.
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An organization is identifying applicants who have knowledge, skills, and abilities that will help the organization reach its goals. the organization is in the process of?
An organization is identifying applicants who have knowledge, skills, and abilities that will help the organization reach its goals. The organization is in the process of selection.
A selection process can be defined as the process of selecting and pre-selecting suitable candidates with the required qualifications and skills to fill vacancies within an organization. The selection process varies from industry to industry, company to company, and even departments within the same company.
Selection is defined as the process of selecting suitable candidates for available positions. Recruitment is described as a proactive process with an approach that attracts as many candidates as possible to open positions.
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When reporting on financial statements prepared on the basis of accounting used for?
Whilst reporting on financial statements organized on the basis of accounting used for earnings tax functions, the auditor need to include within the file a paragraph that: States that the earnings tax basis of accounting is a basis of accounting apart from typically common accounting standards.
Income declaration first as it offers you the essential information to generate other monetary statements. sales might be any sales that your commercial enterprise generates. charges could be diverse working charges, like inventory, hire, or utilities.
Financial statements provide a snapshot of a economic fitness, giving insight into its overall performance, operations, and coins glide. monetary statements are vital in view that they offer statistics about a company's sales, costs, profitability, and debt.
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Examining internal or external records or documents that are in paper form, electronic form or other media is known as?
5-7 The types of procedures and their definitions are as follows. (1) Inspection of records or documents consists of inspection of internal and external records or documents on paper, electronic or other media.
External evidence is considered more reliable than internal evidence because it is in the hands of both the client and another party. This means acceptance of the information and conditions contained in the document.
Internal documents are records created and kept within a company. Documents are used to support organizational processes. Examples of internal documents include employee time cards and timesheets, production schedules, purchase requisitions, receipt reports, sales orders, and disposal approvals.
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Amounts withheld from employee's earnings for employee income tax is considered a _____ by the employer until the government is paid.
Amounts withheld from employee's earnings for the employee income tax is considered a liability by the employer until the government is paid
What is liability?
Liability means the obligation that one party owes another, whose settlement requires the indebted party to transfer cash or equivalent value of other benefits commensurate to the liability to the other party.
In this case, the employees owe the government income taxes, whereby the employees have discharged the obligation by having the employers deduct them from their earnings.
The onus is now on the employers to make payments in respect of the income taxes withheld to the tax authority, prior to which the taxes are treated as the employer's liability.
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Missing options:
(A) assets. (B) liabilities. (C) salary expense. (D) revenue.
Answer:
current liability
Explanation:
Has the ceo carried out his or her responsibility for educating the board? Why or why not?
The CEO has not carried out his or her responsibility for educating the board as evident by the lack of information held by the board members during the discussion and their need and search for more information with respect to the quality performance measures of the Regional Medical Centre and their inquiry for the cost-benefit analysis.
The board members during the meeting are unaware of most of the indicators of the quality performance measures and the patient satisfaction measures and seem to be inquiring from each other about the values. They are also not aware of the trend or changes in these values in Q2 as compared to Q1.
The CEO has the responsibility of overall seeing the functioning of the healthcare organization and reporting, making key administrative decisions, leading organizational changes, and educating the board of directors about the parameters and reports with regard to the functioning of the healthcare organization.
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The legal document that describes the rights and obligations of both the bondholders and the issuer is called the bond.
The legal document that describes the rights and obligations of both the bondholders and the issuer is called the indenture bond.
What is meant by indenture?A legal and binding agreement known as an indenture is frequently related to bond deals, real estate, or bankruptcy. A thorough description of the terms, conditions, and covenants can be found in an indenture.
Who is bondholder?A bondholder is a buyer or the owner of debt instruments, which are frequently issued by governments and enterprises. In essence, bond issuers are borrowing money from bondholders. When bonds mature, bondholders are reimbursed for their initial investment, or principle.
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A company’s ______ is responsible for communicating ethical standards to all employees and designing systems to monitor employees' conformity to those standards.
A company’s ethics ombudsperson is responsible for communicating ethical standards to all employees and designing systems to monitor employees' conformity to those standards.
Questions and claims of potential breaches in institutional ethics and integrity are received by the Ethics Ombudsperson, who then investigates them and provides a resolution. When views are based on unreliable or erroneous data, integrity is usually questioned. Whether real or not, a perceived ethical breach can seriously harm a person's or an organization's reputation.
The Ethics Ombudsperson is not a substitute for the current routes of dispute resolution, communication, or employee dissatisfaction. In light of this, ethical failure cases that may be resolved through established channels or procedures should do so. In certain situations, the Ethics Ombudsperson will send the complainant to the General Counsel's office for private guidance on how to resolve the issue internally.
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Who will be responsible for creating the disaster recovery plan and will likely be responsible for testing it and keeping up with its ongoing maintenance?
The disaster recovery planning team will be responsible for creating the disaster recovery plan and will likely be responsible for testing it and keeping up with its ongoing maintenance.
The disaster recovery team is responsible for creating the organization's disaster recovery plan, developing the planning processes and procedures, and implementing the plan to ensure data recovery in the event of a disaster.
Security administrator. network administrator. Executive Response: An organization's executives are ultimately responsible for corporate governance, including deciding whether to implement BCP/DRP controls.
The role of the Local Disaster Recovery Manager is to organize, coordinate and facilitate recovery at the local level. The experience and skills of these individuals should include a strong foundation for community development and a good knowledge of community demographics.
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The decison-making model that assumes managers are fully objective and have all information they need to make a decision is the ____ decison model
The decision-making model that assumes managers are fully objective and have all information they need to make a decision is the rational decision model.
Rational comes from the Latin Rationalism, meaning rational or logical. If you are rational, you do things based on logic, not on impulse or whim. The original meaning of English was that which had the capacity to reason.
An example of rationality is someone who apologizes after an argument even though he knows he made a mistake. A specified or real number or quantity can be expressed as the ratio of two integers. where the second integer is not 0: all integers and fractions are rational numbers.
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Some crypto exchanges allow their customers to employee leverage, and why is this not a good idea, according to full proof?
Since 2011, over $1.65 billion worth of crypto assets have been stolen, and the numbers are accelerating on a Keeping your digital assets in an exchange wallet is comes with added risks, so storing your cryptocurrency there for a long period of time is not a good idea.
What is cryptocurrency?A cryptocurrency, crypto-currency, or crypto is a digital currency that is designed to function as a means of exchange via a computer network and is not dependant on any central authority, such as a government or bank, to support or maintain it.
Mining is the process by which Bitcoin and other cryptocurrencies are created and transactions involving new currency are validated. It comprises large, decentralised networks of computers all over the world that verify and protect blockchains, which are virtual ledgers that record cryptocurrency transactions.
Cryptocurrency exchanges are lawful in the United States and are governed by the Bank Secrecy Act (BSA). In effect, this means that bitcoin exchange service providers must register with FinCEN, establish an anti-money laundering/counter-terrorism financing programme, and maintain adequate records.
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Weekly or monthly work plans used by management to get information about salespeople are referred to as ________.
Weekly or monthly work plans used by management to get information about salespeople are referred to as sales report.
A sales report is a written account of a company's sales efforts. At different stages of the selling cycle, organizations may utilize a variety of sales reports to assess success, identify areas for development, and gather insightful data that could inform future strategy.
This way they also keep a check on their salespeople, their efficiency and performance. A management must create an environment for their salesperson where they are accountable to the management for their task.
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What is the equilibrium quantity of output in this market? a. 3 units b. 6 units c. 4 units d. 5 units
A correct option is option (a), i.e. 3 units
What is the definition of the equilibrium quantity?
When a product is in equilibrium quantity, there is neither scarcity nor a surplus on the market. When supply and demand cross, the amount of a good that consumers desire to buy is equal to the amount that its manufacturers are supplying.
What is equilibrium quantity increase?
Although the impact on the equilibrium quantity cannot be determined, a rise in demand and a decrease in supply will result in an increase in the equilibrium price. Consumers now place a higher value on goods, and producers must charge a higher price to offer the goods; as a result, prices will rise for all quantities.
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If a company uses $1,510 of its cash to purchase supplies, the effect on the accounting equation would be:________
If a company uses $1,510 of its cash to purchase supplies, the effect on the accounting equation would be One asset increases $1,510 and another asset decreases $1,510, causing no effect.
The relationship between an entity's assets, liabilities, and owner's equity are represented by the basic accounting equation, often known as the balance sheet equation. It serves as the system's cornerstone for double-entry bookkeeping. The total debits and total credit for each transaction are equal.
There are three possible arrangements for the accounting equation:
Assets = Liabilities + Owner's Capital - Owner's Drawings + Revenues - Expenses. Owner's equity = Assets - Liabilities. Net Worth = Assets - Liabilities.The accounting equation makes sure that every entry in the books and records is verified and that each obligation (or expense) and its associated source, or each item of revenue (or asset) and its source, can be independently verified.
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What marketing strategy would be most effective at helping a fitness professional tell a story and create an instantly recognizable level of service
The marketing strategy that involves "creating a brand identity" is the one that would be most effective at helping a fitness professional tell a story and create an instantly recognizable level of service
What is a marketing strategy?This refers to the set of plans about marketing which are designed to fulfil the objectives of a business such as setting out of plans about product development, pricing and promotion to achieve marketing objectives.
However, the process of creating a brand identity will be most effective at helping a fitness professional tell a story and create an instantly recognizable level of service because it provide a physical features that can be reckon with.
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A $300,000 $500,000 bodily injury liability automobile policy could pay _____ to all injured victims in one accident.
A $300,000 $500,000 bodily injury liability automobile policy could pay up to a total of $500,000 to all injured victims in one accident.
Legal responsibility is something someone or agency owes, normally a sum of money. Liabilities are settled through the years thru the transfer of economic blessings together with cash, goods, or offerings.
assets are the objects your corporation owns that may offer future financial gain. Liabilities are what you owe different parties. In brief, property put money in your pocket, and liabilities take cash out!
Liability is what a person or organization owes cash on. This includes the responsibility to pay taxes, loans, mortgage payments, and invoices for goods and services.
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A $300,000 $500,000 bodily injury liability automobile policy could pay up to a total of $500,000 to all injured victims in one accident.
Legal responsibility is something someone or agency owes, normally a sum of money. Liabilities are settled through the years thru the transfer of economic blessings together with cash, goods, or offerings.
assets are the objects your corporation owns that may offer future financial gain. Liabilities are what you owe different parties. In brief, property put money in your pocket, and liabilities take cash out!
Liability is what a person or organization owes cash on. This includes the responsibility to pay taxes, loans, mortgage payments, and invoices for goods and services.
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At 90 days past due what happens to all cardholder accounts associated with a managing account?
All were automatically suspended.
Which of the following is a cardholder responsibility in a Government wide commercial purchase card program?The Cardholder is responsible for the following:
Completing all required training prior to being issued a Purchase Card. Purchasing goods or services in accordance with established Department policy, procurement regulations, and individual internal office procedures.Which of the following is an appropriate circumstance for using a convenience check?A purchase exceeds the micro purchase threshold.
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The total lease cost is $680.
What is a lease?A lease is a contractual agreement that requires the user to pay the owner for the use of an item. Property, buildings, and cars are examples of leased assets. Leasing is also used for industrial or commercial equipment. A lease agreement, in general, is a contract between two parties: the lessor and the lessee. The lessee acquires the right to use the asset in exchange for regular rental payments from the lessor, who is the legal owner of the asset. The lessee also undertakes to follow certain conditions when using the property or equipment. A person leasing a car, for example, may agree to the restriction that the car will only be used for personal purposes.To find the total lease cost:
The total deposit is $575.License fees of $105.So, total lease cost = 575 + 105 = $680.Therefore, the total lease cost is $680.
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According to the U.S. Department of Labor Statistics, one of the most hazardous activities health care workers perform is
Manual handling is one of the most hazardous activities performed by health care workers. Over a third of all occupational injuries are a result of manual handling. These include repetitive strain injuries of various kinds and musculoskeletal diseases (MSDs) associated with workplace, such as discomfort and damage to arms, legs, and joints.
Lifting, lowering, pushing, tugging, and carrying are just a few of many tasks that go under umbrella of manual handling . Injury is possible if any of these activities are not completed correctly. Injury caused by manual labor can have major repercussions for both the employer and health care workers.
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Many___expectations of good customer service are the same, but we must still treat each customer as an individual.
So many people's expectations of good customer service are the same but we must still treat each customer as an individual.
What is a good customer service?Also known as an excellent customer service refers to the act of meeting and surpassing expectations of customers, that is, the seller or the firm is showing the customer how important he or she is to you and the business survival and existence.
Furthermore, it involves following best practices like valuing customers' time, having a pleasant attitude, and providing knowledgeable to the customers as well.
Hence, in most case, despite that many people's expectations of good customer service are the same but we must still treat each customer as an individual.
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ABC Electronics introduced the first large flat screen TV. Shoppers were amazed by the sharp, colorful images, and consumers flocked to the stores to purchase one. ABC priced the product high while there were few competitors in order to recover research and development costs and maximize profits. This strategy is called
The strategy in which there is high price charged and there are a very few competitors available this suggests that there is a monopolistic competition. The strategy is premium strategy.
What is Monopoly?Monopoly is the seller in a market where there is no competition, the sole seller of the products or services is the organization and thus this way the organization can charge the amount it wants.
In a monopolistic competition there are a few competitors available in the market and therefore they can charge high prices, as in the scenario ABC electronics have incurred a high amount of research and development cost and so that is why they are charging a high price.
The high price will be paid by the consumers because it is a cutting edge technology and thus ABC will generate greater profits.
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Ben and jerry’s lays off 500 workers during a recession, creating _____ unemployment.
Ben and jerry’s lays off 500 workers during a recession, creating cyclical unemployment.
A recession can be defined as a prolonged period of low or negative real GDP (manufacturing) growth accompanied by a significant rise in unemployment. Many other economic indicators are weak during recessions
This is the first stage, marked by a decline in activity across the economy. This can manifest itself in various ways. B. Lower levels of production, less employment, less spending by consumers and businesses.
Care and body care products such as toothpaste, deodorant, shampoo, and toilet paper are always in demand. Offering these types of items can position your business as a vital resource for consumers during difficult times. People want to be beautiful no matter how hard it is.
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Using stored liquidity to offset a deposit drain will reduce the size of the bank but using purchased liquidity to offset the drain will not.
a. true
b. false
Using stored liquidity to offset a deposit drain will reduce the size of the bank but using purchased liquidity to offset the drain will not. The given statement is true.
Stored liquidity meets all funding requirements through carefully designed deposit structures and on-balance sheet liquid assets. Purchased liquidity employs borrowings and non-core liabilities to cover financial requirements.
Liquidity management was bought. Liquidity can be obtained on the financial markets, such as by borrowing money from rival banks and other institutional investors. • A liability-side adjustment to the balance sheet to cover a deposit drain.
By the effect it has on the price of acquired funds. Because all shareholders share in the value loss on a pro rata basis, mutual funds have lower liquidity risk than banks when comparing the two.
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Lower-level managers are empowered to make decisions in a ______ organization, which can ________ motivation and job satisfaction.
Lower-level managers are empowered to make decisions in a decentralized organization, which can increase motivation and job satisfaction.
What is motivation ?Motivation is the reason why humans and other animals begin, continue, or discontinue an activity at any particular time. Motivational states are typically viewed as internal forces that induce a desire to engage in goal-directed conduct.
The Three Kinds of Motivation
Extrinsic. Performing an action in order to achieve or prevent a specific result. Many of the things you perform every day are probably extrinsically driven. ...
Intrinsic. Internal motivation for success or a sense of purpose... Family. Motivated by a desire to provide for your family.
Motivation will assist him in achieving his personal objectives. Individuals who are motivated will be satisfied with their jobs. Individual self-development will benefit from motivation. Working with a dynamic would always benefit an individual.
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The balance of opinion suggests that the contributors to leadership effectiveness are:________
The balance of opinion suggests that the contributors to leadership effectiveness are a combination of nature and nurture.
Effective leadership: what is it?
Effective leaders can use their leadership abilities to inspire all of their coworkers to follow their example, resulting in increased morale and better results for their organization, rather than having to hold management positions. These abilities can make you a better worker, teammate, and member of your company.
Whatever your position in the organization, having the right leadership qualities can advance you into a better position. Effective leadership abilities can change your entire organization because a manager and a leader are not always the same thing.
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In the united states, employee salaries are increasingly based on ______________ rather than internal job evaluation.
In the united states, employee salaries are increasingly based on market pricing rather than internal job evaluation.
Job evaluation is the process of determining how much remuneration to assign to a job is called a job evaluation. In order to assess the compensation range, the pay scale for relevant positions, and the benefits that are suitable for a particular employment, internal and external data must be used.
A job evaluation assesses the position without taking the person in that position into account, whereas a performance appraisal evaluates the individual. Examples of typical job evaluations include single-position evaluations for newly formed positions, job reevaluations to increase salaries' competitiveness or equity, and company-wide job evaluations to redesign the entire compensation scheme.
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What strategies did the lifeguard use to try to get the patron to understand the importance of clearing the pool?
Most important strategies of lifeguard is tracking activities in and near the water through customer surveillance.
Stopping injuries by way of minimizing or doing away with risky conditions or behaviors. imposing facility policies and policies and educating buyers about them. Purchasers need to know about the risks that could purpose harm. behaviors that lead to damage. shoppers can be surprising with facility capabilities, or be so excited that they do no longer study symptoms or take note of guidelines.
The lifeguard has a whistle to alert the ones concerned. In worst instances, lifeguards alert co-workers and emergency rescue when a person is severe injured or is going below water.
The number one obligation as a lifeguard is to save you drowning and other accidents from occurring. candidates need to be able to make sure the protection of consumers by minimizing or getting rid of unsafe conditions or behaviors.
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Fred pittman has invested $10,000 in his son’s motorcycle repair shop, but he takes no part in its management. pittman is a(n):_________
Fred pittman has invested $10,000 in his son’s motorcycle repair shop, but he takes no part in its management. pittman is a limited partner.
Similar to a general partnership, a limited partnership is a type of partnership but unlike a general partnership, a limited partnership needs at least one general partner (GP) and at least one limited partner.
A limited partner is a shareholder whose liability for the company's debts is limited to the amount they contributed to the business. Silent partners are another name for limited partners.
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A company has net sales of $825,000 and cost of goods sold of $547,000. its net income is $98,500. The company's gross profit and operating expenses, respectively, are?
A company has net sales of $825,000 and cost of goods sold of $547,000. its net income is $98,500. The company's gross profit and operating expenses, respectively, are $278,000 and $179,500.
While operating margin deducts operating expenditures from the gross margin to determine the return on sales of goods and services. The variable costs that can be included in the manufacture of goods are often referred to as the gross margin.
Gross margin = net sales -cost of goods sold
= 825,000 - 547,000 = 278,000
Operating expenses = gross margin - net income
=278,000 - 98,5000
= 179,500
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Country x allows market forces to guide its economy. however, it does regulate some transactions and has set a minimum wage for workers. what kind of economy does this country have?
The centralized kind of economy this country has.
A market economy is an economic system in which economic decisions and pricing of goods and services are guided by the interaction of individual citizens and firms in the country. There may be government intervention or central planning, but usually, the term generally refers to a market-oriented economy.
However, economists have identified six main functions of government in a market economy. The government provides the legal and social framework, sustains competition, provides public goods and services, redistributes income, modifies externalities, and stabilizes the economy.
No matter what the future holds, a business degree can help people succeed. Understanding how decisions are made, how markets work, how rules affect outcomes, and how the economy forces drive social systems can help people You will be able to make better decisions and solve more problems. It leads to success in business and life.
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The 1909 strike at new york city's triangle shirtwaist company demonstrated that:______.
The 1909 strike at New York city's triangle shirtwaist strike demonstrated that women workers could create solidarity across social and ethnic lines.
The Uprising of the 20,000, also known as the New York Shirtwaist Strike of 1909, was a labor dispute that mostly affected Jewish women who worked in New York shirtwaist manufacturers. The strike was the biggest by female American employees to that point. The strike began in November 1909 under the direction of Clara Lemlich and the International Ladies' Garment Workers' Union, with assistance from the National Women's Trade Union League of America (NWTUL). The NWTUL and the factory owners reached a settlement in February 1910, which resulted in better pay, hours, and working conditions. The Triangle Shirtwaist Factory Fire, which exposed the hardship of immigrant women working in hazardous and challenging conditions, occurred only a year after the strike came to a conclusion.
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