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alex41 [277]
2 years ago
6

As described in the chapter case, which of the following constitutes a managerial element of the UPS tracking system?A) The web-

based Post Sales Order Management SystemB) The ability to provide package status reports to customersC) The decision to use automationD) The implementation of in-house package tracking softwareE) The ability to embed UPS functions in external sites
Business
1 answer:
m_a_m_a [10]2 years ago
8 0

Answer:

the correct answer is C

Explanation:

As described in the chapter case, which of the following constitutes a managerial element of the UPS tracking system?

C) The decision to use automation

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Mariulka [41]

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6 0
1 year ago
Positive economics: a) makes recommendations designed to achieve certain goals. b) is based on value judgments. c) involves stat
amm1812

Answer:

C. Involves statements that can be proven true or false

Explanation:

Positive Economics includes objective statements, based on factual data, describing 'what actually is'. The statements describe economic issues & cause - effect relationship, can be tested or proved.

Eg : The inflation rate in India in 2019 was xyz %.

The statement is a factual data description of an actual economic issue, which can be tested.

7 0
2 years ago
On January 1, a company purchased a five-year insurance policy for $3,700 with coverage starting immediately. If the purchase wa
Pavlova-9 [17]

Answer:

a. debit Insurance Expense, $740; credit Prepaid Insurance $740

Explanation:

Insurance payment for 5 years = $3,700

On January 1, $3,700 has been recorded as prepaid expense by debiting prepaid insurance and crediting cash.

At the end of first year an insurance expense for one year is accrued and should be recorded by transferring balance of $740 from prepaid insurance account to insurance expense account  

Insurance payment per year = $3,700 / 5 = $740 per year

The adjusting entry will be

Debit      Insurance Expense    $740

Credit     Prepaid Insurance     $740

6 0
3 years ago
The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May
NeTakaya

Answer:

1. Prepare a retained earnings statement.

Net income = $943,400

Retained earning at May 31, 2018 = $3,792,500

2. Prepare a balance sheet, assuming that the current portion of the note payable is $50,000.

Net Total Assets = Stockholder's equity = $4,292,500

Explanation:

1. Prepare a retained earnings statement.

To do this, the income statement is first prepared to obtain the net income as follows:

Clairemont Co.

Income Statement

for the fiscal year ended May 31, 2018

<u>Details                                                         $            </u>

Sales                                                   11,343,000

Cost of goods sold                           <u> (7,850,000) </u>

Gross Income                                      3,493,000

Selling and Distribution expenses:

Sales salaries expense                        (916,000)

Advertising expense                           (550,000)

Dep. expense - Store equipment        (140,000)

Miscellaneous selling expense            (38,000)

Administrative expenses:

Office salaries expense                     (650,000)

Rent expense                                        (94,000)

Insurance expense                               (48,000)

Dep. exp - Office equipment               (50,000)

Office supplies expense                       (28,100)

Miscellaneous admin expense          <u>   (14,500)  </u>

Operating income                                964,400

Interest expense                                 <u>   (21,000) </u>

Net income                                         <u>  943,400 </u>

The retained earning statement can therefore, be stated as follows:

Clairemont Co.

Retained Earnings Statement

for the fiscal year ended May 31, 2018

<u>Details                                                             $            </u>

Retained earnings at June 1, 2017         2,949,100

Net income for the year                            943,400

Dividends                                                <u>  (100,000) </u>

Retained earning at May 31, 2018      <u> 3,792,500  </u>

2. Prepare a balance sheet, assuming that the current portion of the note payable is $50,000.

Clairemont Co.

Balance sheet

for the fiscal year ended May 31, 2018

<u>Details                                                     $                         $       </u>

<u>Fixed Assets</u>

Office equipment                             830,000

Accumulated dep.- office equip   <u> (550,000) </u>            280,000      

Store equipment                            3,600,000

Accumulated dep.- store equip  <u>  (1,820,000) </u>        <u> 1,780,000 </u>

Net Fixed Assets                                                        2,060,000

<u>Current Assets</u>

Cash                                                    240,000

Accounts receivable                          966,000

Inventory                                           1,690,000

Estimated returns inventory                 22,500

Office supplies                                       13,500

Prepaid insurance                          <u>         8,000  </u>

Total current assets                         2,940,000

<u>Current Liabilities</u>

Accounts payable                               (326,000)

Customer refunds payable                   (40,000)

Salaries payable                                     (41,500)

Note payable                                      <u>   (50,000) </u>

Working Capital                                                               2,482,500

<u>Long-term Liability</u>

Note payable (300,000 - 50,000)                               <u>  (250,000) </u>

Net Total Assets                                                          <u>  4,292,500 </u>

Financed by:

Common stock                                                                 500,000

Retained earning at May 31, 2018                                <u> 3,792,500  </u>

Stockholder's Equity                                                   <u>  4,292,500 </u>

Note:

Since both the Net Total Assets and Stockholder's equity are to $4,292,500, it implies the financial statement is accurately prepared as both as always be equal.

5 0
3 years ago
For each of the following situations, identify whether the Federal Reserve is likely to pursue an expansionary or a contractiona
loris [4]

Answer:

a) Contractionary b) Contractionary c) Expansionary d) Contractionary e) Expansionary

Explanation:

Contractionary Monetary Policy

This a tool or policy employed by the Central Bank of a country or the federal reserve to fight inflationi or too much liquidity in an economoy. Put in another ways, when there is inflation, it is a sign of an overheated economy and it could be as a result of government intervention causing so much cash or liquidity in circulation.  The central bank reduces money supply and increase interest rates to reduce liquidity, borrowing and spending. A contractionary policy therefore is a restrictive monetary policy that is aimed at slowing economic growth to what is healthy in a system.

Expansionary Monetary Policy

This monetary policy is simply the opposite of the Contractionary policy where the Central Bank uses its tools and reserves to boost or stimulate the economy. The aim of the policy is to increase aggregate demand and bring the economy out of recession or impeding recession into an healty state. Some of the policies include increasing money supply and lowering interest rates to boost growth in the Gross Domestic Product (GDP)

<u>To answer the question, we look at each situation and find out if its an overheated economy or a recessed economy and that determines the policy</u>

The unemployment rate is at 0.5 percent:

According to the Federal Reserve, an healthy unemployment rate in the economy is from 4 to 5%, hence, this rate is so low it is indicative of an overheated economy the policy therefore, is Contractionary

The economy is experiencing record growth in GDP

Growth in GDP is good in fact, GDP growth is the aim of every economy, but an over active rate will lead to inflation and inflation is not good. Hence the Contractionary policy will be put in effect

The unemployment rate is at 15 percent

Since the acceptable rate of unemployment is 4%-5%, 15% is too high, the economy needs to be stimulated to reduce the rate, hence, the Expansionary Monetary Policy will be pursued

Inflation has reached 10 percent, a recent high

High inflation is indicative of an over-active or over stimulated economy, it will drive prices of goods and services up and it is not healthy in the long-run, the monetary policy to be pursued is Contractionary

A hurricane recently demolished a major city, causing a major recession

The Expansionary Monetary Policy is a major tool to bring an economy out of a recession. Circulation of money is increased, liquidity is increased, interest rate by banks are lowered and aggregate spending increases.

7 0
3 years ago
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