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3 years ago

Our financial decisions decrease once we reach adulthood true or false

Business

2 answers:

inna [77]3 years ago

5 0

The correct answer is False

Explanation:

Financial decisions are related to money management. This includes decisions related to a company or business in case you own or manage one and decisions related to personal finances such as saving money, paying the bills, using credit, etc.

In general terms, our financial decisions increase as we reach adulthood because once we are adults we earn our own money and are responsible for ourselves; this is related to multiple decision on how to spend money that includes paying for housing, food, taxes, among others; also, there are financial services such as using credit card, loans, savings accounts. This does not occur when we are children or even teenagers as in most cases our parents and family make decisions on how to spend/ save money.

Burka [1]3 years ago

4 0

That statement is false. Your financial decision will not decrease when you have become an adult,

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With respect to how economists study the economy, which of the following statements is most accurate? a) Economists study the pa

vampirchik [111]

Answer:

Option (c) is correct.

Explanation:

Economists refers to the people who are doing research, analyzing data and measure the qualitative activities in terms of money.

For research perspective, one should have proper knowledge about the research problem that he or she need to address in his or her research. Then he should collect the reliable and accurate data for the analysis. Data is very important for a particular research study.

Once the data is ready to analyze then the economists run the data and interpret the results.

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3 years ago

Berkshire Inc. uses a periodic inventory system. At the end of 2015, it missed counting some inventory items, resulting in an in

zlopas [31]

Answer:

Assets understated by $510,000, liabilities understated by $153,000 and shareholders' equity understated by $357,000.

Explanation:

An understatement of closing inventory will have the following effects,

First of all the inventory as an asset is understated by $510,000

Second, this inventory was subject to deduction from the Cost of goods sold as, Cost of goods sold = Opening Inventory + Purchases - Closing Inventory.

Since this amount was not subtracted from the CGS, the gross profit and ultimately the Net profits were understated by $510,000.

This will be added in the net profits.

With an increase in net profits, the tax payable amount also increases. This is calculated as 510,000 * 0.30 = $153,000

So total change in profits is = 510,000 - 153,000 = $357,000

While $153,000 is still payable and is recorded as a tax payable liability.

Thus,

Assets understated by $510,000

Liabilities Understated by $153,000 (tax payable)

Share holders equity understated by $357,000 (part of retained profits)

Hope that helps.

6 0

3 years ago

At the end of a long day, Sabrina, a cashier for a supermarket is counting the paper money. One of the bills falls from the cash

Slav-nsk [51]

Answer:

It is an act of theft and conversion of property that is not her own. However it is not intentional

She should not be convicted

Explanation:

Embezzlement is defined as the intentional managemnet of.funda that are put in the care of a person. This is done in order to have a personal gain from the management.

It is when an individual engages in theft of entrusted funds.

In the given scenario although the cash fell into her bag, she did not intentionally take the money for personal gain.

As this is the main concept of embezzlement, she can't be held guilty of embezzlement

4 0

3 years ago

Indiana Co. began a construction project in 2021 with a contract price of $163 million to be received when the project is comple

iragen [17]

Answer: Recognized $12.68 million gross profit on the project in 2022

Explanation:

Firstly we would need to ascertain the percentage of completion in 2022. We will do this by using the costs.

The cost incurred till date is,

= $32 million (incurred in 2021) + $59 million (incurred in 2022)

= $91 million. (1)

A further $37 million is estimated to remain in costs by project completion so the total cost would be,

= $91 million + 37 million

= $128 million is the total cost to be incurred. (2)

Dividing (1) by (2) to find out how much costs have been incurred vs how much is life we have,

= 91 / 128

= 0.7109

= 71 %

71 % of the project has been completed.

We will now find out the revenue for that very year using the percentage of the project completed.

The Total Revenue is $163 million so we will take 71% of that,

= 0.71(163)

= $115.73 million can be recognized as revenue TILL DATE. (3)

To find out the Revenue for the year then we can deduct the revenue of the previous year from the Revenue till date to find out the revenue for 2022.

But first we need to find the revenue of 2021 using the same method we used to calculate the Revenue this far

= 32 million / (32 + 86 million) * 163 million

= $44.01 million in revenue in 2021 (4)

Subtracting (4) from (3) to get the revenue for 2022 we have,

= 115.73 - 44.01

= $71.72 million is therefore the revenue for the year 2022

Calculating the gross profit for the year 2022 then we can subtract the cost in 2022 from the revenue for 2022.

= 71.72 million - 59 million

= $12.72 million

The answer we got is off by $0.04 from option C so we will pick Option C as the correct answer with the discrepancy going down to rounding off errors in the Intermediate Calculation.

8 0

3 years ago

Factors that must be considered before starting up a business ?

miv72 [106K]

Answer:

factors that must be considered before starting business are:

Explanation:

1)capital

2)raw materials

3) enough knowledge about things

4)market

5)skilled manpower

4 0

3 years ago

Read 2 more answers