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Papessa [141]
3 years ago
14

: In 2021, Garret Market remained fully open while conducting inventory, but in 2022 Garrett closed during inventory. In 2023, G

arrett remained open but sold only a small selection of items during inventory. Based on this information, in which years did Garrett have the most and least accurate inventories
Business
2 answers:
andreev551 [17]3 years ago
8 0

Answer:

The answer is:

  • 2022 most accurate inventory
  • 2021 least accurate inventory

Explanation:

Garret Market uses a periodic inventory system (updates are made on a periodic basis) and in order to carry out this process correctly, the inventory should remain closed. Only in 2022 was the inventory closed, so it should be the most accurate. In 2021 the store remained fully opened and inventory was modified daily, so it should be the least accurate.

Hoochie [10]3 years ago
6 0

Answer: 2022 would have the most accurate inventory whilst 2021 would have the least accurate inventory.

Explanation:

Based on common Accounting practice, Stock takes are conducted on the first day of a new month or a new Quarter (i.e. April, July, Oct and Jan) or a new year. The intention being to ensure the carrying stock in the company records or the ERP are the same or as close as possible as what is physically in the warehouse.

However, this doesn't preclude stock takes from happening on impulse, irregularly and sometimes limited to specific items of inventory. Where certain occurrences took place within a business, this is likely to be the case. Chief of which is suspected pilferage of stock items by employees, in addition we may consider natural & man-made disasters, identified incorrect recording of stock utilization in production processes etc

In 2021, if most of Garret Market stock in hand are slow moving items, meaning consumption of materials can be predicted albeit the level of consumption is low. It makes sense to continue its operations to generate as much revenue as it can without allowing the stock take exercise squander its chances at profitability.

In 2022, there may have been identified or suspected cases of theft thus necessitating a complete shut down of operations.

Whilst in 2023 it had perfected the art of running both concurrently.

The perfect answer therefore lies in the size and pace of operations of the Business and how it’s able to manage stock takes without disrupting it’s core function of providing consumer goods.

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Companies under ____ market structures are interdependent. _____ is a secret agreement among companies that may result from this
Ipatiy [6.2K]

If i'm correct the answer is Companies under Oligopolistic market structures are interdependent. Collusion is a secret agreement among companies that may result from this interdependence.

3 0
3 years ago
A ________ is an individual or organization who seeks out opportunities to improve society by using practical, innovative, and s
gtnhenbr [62]

Answer:

The correct answer is letter "B": social entrepreneur.

Explanation:

Social entrepreneurs are people interested in going into ventures not necessarily to generate revenue but for making a good to their societies. Their organizational activities mainly focus on providing pollution-free goods or acting as a philanthropic entity. These institutions have a high corporate social responsibility that aims to last over long periods.

8 0
3 years ago
Keren Wiseman is an employee of Dimensionworks Designs in New Mexico. She received the following achievement awards from her emp
puteri [66]

Answer:

$2,300

Explanation:

Assuming that the requirements for qualified plan awards are otherwise satisfied, each award by itself would be excluded from income.

The excludable amount or deduction is $1,600 out of total amount of awards.

Total amount of awards = Design + Graphic + Employee  of the year

                                         = $1,340 + $1,775 + $785

                                          = $3,900

Taxable awards = Total amount of awards – Excludable amount

                            = $3,900 – $1,600

                             = $2,300

However, because the $3,900 total value of the awards is more than $1,600, Keren must include $2,300 in his taxable income.

8 0
3 years ago
The Federal Reserve purchases ​$8 million in U.S. Treasury bonds from a bond​ dealer, and the​ dealer's bank credits the​ dealer
Zinaida [17]

Answer:

The bank will be able to lend:

$42,105,263 ($8 million/ 0.19)

Explanation:

The above amount which the bank can lend from the $8 million received from the Federal Reserve for a customer is a function of $8 million deposit in a customer's account and the reserve ratio.  This is called the money multiplier.

The money multiplier is the amount of money that banks generate with each dollar of reserves. Reserves is the amount of deposits that the Federal Reserve requires banks to hold and not lend.  The level of Reserves and deposit liabilities determine the amount a bank can lend out.

The process by which banks create more money than the physical money is called money creation.  This shows that a bank creates more money in the economy through its lending activities.

6 0
3 years ago
The government unit that wants to achieve "revenue enhancement" will find it considerably more favorable to enact an excise tax
boyakko [2]

Answer:

C. highly inelastic

Explanation:

An excise tax on a product will increase its price from the equilibrium point, to a higher point set by the government.

If the government was to enhance its revenue by this means, it should enact the excise tax on products that are highly inelastic.

This is because a highly inelastic product is one whose quantity demanded does not fall considerably even if the price rises a lot.

This means that even if the product is more expensive after the excise tax, consumer will continue to buy it, increasing government revenue in this way.

6 0
3 years ago
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