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4 years ago

What’s the first step in financial planning

1 answer:

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1. Know your assets and liabilities
2. Calculate your expenses and income
3. Manage your cashflow
4. Do a good investment (don’t invest in unnecessary things)
5. Learn more or study

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Managers are increasingly viewing the world as "one big marketplace" due to globalization and the interconnectedness of national

Keith_Richards [23]

Answer:

E. Ethnocentric orientation

Explanation:

In the ethnocentric orientation companies do not adapt the product to the other countries in which they have operations. These companies do the same they do in their home country in the other markets and this is a mentality that can result in an inability to see opportunities in other countries as managers are not willing to make changes that can target other markets in a better way.

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3 years ago

The accounting principle that ensures all expenses are recorded during the period when they are incurred and offsets those expen

Naya [18.7K]

Answer:

The correct answer is Congruence.

Explanation:

Any company that makes its financial statements available to the public will conform to GAAP standards. The congruence principle is one of the fundamental lines established by the Financial Accounting Standards Board (FASB) This process is different from the cash accounting principles that the total amount of income or expenses is recorded regardless of when They have an impact on the cash flow of the company. The GAAP congruence principle helps to provide a clear and accurate picture of cash on hand, the revenue generated and expenses incurred at a specific point in time (see Resources below).

In order to minimize errors and provide accurate account information during the accounting period, companies can recognize expenses and revenues that occur within a time-giving period. The GAAP congruence principle recognizes expenses when they are incurred, and when it distinguishes between deferred income and accrued expenses in order to determine its real value of the company at a given time.

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3 years ago

Many theme parks charge an entrance fee and a per-ride fee equal to zero. This is an example of

nataly862011 [7]

Answer:

two part pricing

Explanation:

A Two-part tariff (TPT) is a type of price gouging in which the price of a good or service consists of 2 sections-a rub-sum of the per-unit fee. Such a selling strategy generally occurs except in part or entirely monopolistic industries. It is built to allow the company to absorb more surplus value in a non-discriminatory pricing framework than it ever has before.

Two-part tariffs in open markets can also occur when customers are unsure regarding their final requirement. Consumers of fitness centers, for instance, may be unsure regarding their degree of potential dedication to an exercise routine.

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3 years ago

the preferred type of retirement account for the typical college students working a part-time low-wage job would generally be:

Anna007 [38]

The Roth IRA. The SEP IRA. Simple IRAs and Simple 401(k) Plans (k). You contribute Traditional after-tax dollars to a Roth IRA, retirement money grows tax-free, and you can generally make tax- and penalty-free withdrawals after the age of 5912.

With a Traditional IRA, you can contribute before or after taxes, your money grows tax-deferred, and withdrawals are taxed as current income once you reach the age of 5912. A Roth IRA is an Individual Retirement Account into which you make after-tax retirement. While there are no current-year tax advantages, your contributions and earnings can grow tax-free, and you can withdraw them tax- and penalty-free after age 5912 and five years.

To learn more about retirement, click here.

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4 0

1 year ago

1. An economy consists of three workers: Larry, Moe, and Curly. Each works ten hours a day and can produce two services: mowing

aksik [14]

Answer:

A. The first scenario where all three workers spend all their time mowing lawns,

In 10 hours = Larry mows 10 lawns, Moe mows 10 lawns, and Curly mows 20 lawns = (Total is 40 lawns mowed, and 0 cars washed)

B. The second scenario where all three workers spend all their time washing cars

In 10 hours = Larry washes 10 cars, Moe washes 20 cars, and Curly washes 10 cars = (Total is 40 cars washed, and 0 lawn mowed)

C. The third scenario where all three workers spend half their time on each activity then;

In 5 hours for mowing lawns and 5 hours for washing cars we get:

Larry mows 5 lawns and washes 5 cars

Moe mows 5 lawns and washes 10 cars

Curly mows 10 lawns and washes 5 cars

In total they mowed 20 lawns and washed 20 cars

D. The fourth scenario, Larry spends half his time on each activity, while Moe only washes cars and Curly only mows lawns.

Larry mows 5 lawns and washes 5 cars

Mow washes 20 cars

Curly mow 20 lawns

In total, 25 lawns will be mowed and 25 cars will be washed

When this is plotted, the production frontier would produce a bow out shape, which is as a result of opportunity cost.

From the diagram, it can be clearly seen that Scenario C is inefficient because it is possible to mow more lawns and also wash more cars without actually reducing the production of others to 25 each.

Yes C is inefficient because more lawns can be mowed and more cars can be washed by simply just reallocating time of the 3 workers.

Explanation:

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3 years ago