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olga2289 [7]
2 years ago
10

A company recognized an accrued salary expense in Year 1 and paid its employees in Year 2. The financial statements affected in

Year 2 are the ______.
Business
1 answer:
Volgvan2 years ago
8 0

Answer:

Statement of Financial Position and Cash Flow Statement.

Explanation:

Year 2

<em>1. Statement of Financial Position</em>

Decrease the Liability : Salaries Owing

Decrease the Assets : Cash

<em>2. Cash Flow Statement</em>

Decrease in Liability : Cash Outflows

<em>3. Income Statement</em>

No Effect

<em>4. Statement of Changes in Equity</em>

No Effect

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Suppose you are a manager of a firm that operates in a duopoly. Recently, the state attorney general fined you and your competit
larisa86 [58]

Answer: The price level  chosen to maximize profits will be $ 6.71

Explanation:

Whenever there is price fixing between two competitors, and one of the competitor decides to choose a price level. Such competitor must ensure that the price level chosen to maximize profit does not exceed his or her competitor's marginal cost but can be  above his or her marginal cost .

Since the price fixing is $10 from previous cartel price so the best price level to maximize the profit would be less than my  rival's  price of   $ 6.72 and more than my  marginal cost of $ 6.70  which is $ 6.71

8 0
3 years ago
If W. Edwards Deming was your management consultant, he would emphasize
VARVARA [1.3K]

Answer:

Letter A. <u>Quality through constant innovation and quality assurance training.</u>

Explanation:

Alternative A is correct, as W. Edwards Deming was a pioneer scholar in the application of organizational quality management.

He was responsible for creating the 14 points, which are principles for management that will help the organization to achieve total quality. He was also responsible for popularizing the PDCA Cycle (PLAN, DO, CHECK, ACT), which is a strategic tool widely used worldwide to ensure continuous improvement and the quality of processes and products.

  • PLAN:  define objectives, methods and resources.
  • DO: Perform, educate and train.
  • CHECK: Measure and evaluate
  • ACT:  act correctly.

Continuous improvement can be achieved through the correct and targeted use of the PDCA cycle towards organizational objectives. For Deming, without continuous improvement, there is no survival of the organization in the market, so he argues that continuous improvement must be implemented in all phases of the project, to achieve the benefits of continuous improvement of processes, increased productivity and reduced costs.

4 0
3 years ago
What is the major reason(s) for consumer default on loans?
denis-greek [22]
<span>Major reasons for consumer default on loans can include: missed payments, either known or unknown. This has a negative effect on the consumer's credit score and can limit their chances to take out new lines of credit. A continuation of missed payments results in default. High interest loans are also a major reason for default.</span>
6 0
3 years ago
A stock has a required return of 11%; the risk-free rate is 7%; and the market risk premium is 4%.
kotegsom [21]

Answer:

The Beta is 1

The required return increases to 13%

Explanation:

The formula for required return is given below:

Required Return = Risk-Free Rate of Return + β(Market Return – Risk-Free Rate of Return)

required return is 11%

risk-free rate of return=7%

Beta is unknown

market return-risk free rate of return is market risk premium is 4%

11%=7%+beta(4%)

11%-7%=beta*4%

4%=beta*4%

beta=4%/4%

beta=1

If the market risk premium increased to 6%,required return is calculated thus:

required return=7%+1(6%)

required return =13%

This implies that the riskier the stock, the higher the market risk premium, the higher the required return to investors.

6 0
3 years ago
Jane must do a system each evening to copy and archive computer data that could be used if a compromise occurs
svetlana [45]
Jane must do a system each evening to copy and archive computer data that could be used if a compromise occurs. The process that Jane makes is referred to as back up. Back up process is the process of copying and archiving computer data so that the duplicate files can be used to restore the original data if a compromise occurs. 
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