The expected annual medical expenses of a high-risk person is $3000 per year while that of a low-risk person is $1000 per year.
The expected annual medical expenses of a high-risk person will be calculated as:
= Probability of falling ill × Expenses in case of illness
= 30% × $10000
= 0.3 × $10000
= $3000
The expected annual medical expenses of a low-risk person will be calculated as:
= Probability of falling ill × Expenses in case of illness
= 10% × $10000
= 0.1 × $10000
= $1000
It should be noted that in a situation where the individuals are risk neutral, the low-risk persons will not buy insurance as only the high-risk individuals will be expected to buy insurance.
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The A - B - C rule stands for all business consolidated rule true or false?
Answer:
FALSE!
Explanation:
The __________ style for handling conflict works best when maintaining harmony is especially important.
Answer:
accommodating
Explanation:
The style for handling conflict works best when maintaining harmony is especially important is called Accommodating style.
What is accommodating style?
An accommodating personality sacrifices one's own interests or desires in favor of those of others. You would prioritize the problems of others before his own. This approach frequently occurs when people give in or are convinced to give in.
Multiple teams, labor-intensive work, and tight deadlines all contribute to conflict in the construction industry. The accommodating conflict management style is one of five approaches to dealing with disagreement and keeping your project on schedule.
Therefore, it can be concluded that accommodating style of conflict is the correct option for the given blank.
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Victor Mineli, the new controller of Blossom Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings:Type ofAsset DateAcquired Cost AccumulatedDepreciation,Jan. 1, 2017 Useful Life(in years) Old Useful Life(in years) Proposed Salvage ValueOld Salvage ValueProposedBuilding Jan. 1, 2009 $700,000 $129,900 40 48 $50,500 $35,100Warehouse Jan. 1, 2012 115,000 22,100 25 20 4,500 3,000All assets are depreciated by the straight-line method. Blossom Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remaining life.)(a) Compute the revised annual depreciation on each asset in 2017. (Round answers to 0 decimal places, e.g. 125.)Building WarehouseRevised annual depreciation $ _____ $ _____
a. Based on the information given the revised depreciation is:
Building $1,250
Warehouse $5,993
b. Debit Depreciation expense $13,375
Credit Accumulated depreciation-Building $13,375
a. Victor Mineli Revised depreciation
Revised depreciation for Building
Building= ($700,000-$129,900-$35,100)/40
Building= $535,000/40
Building=$13,375
Revised depreciation for Warehouse
Warehouse=($115,000-$22,100-$3,000)/15
Warehouse =$89,900/15
Warehouse=$5,993
b. Journal entry
Debit Depreciation expense $13,375
Credit Accumulated depreciation-Building $13,375
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Computing Depreciation Expense. Equipment costing $680,000, with an expected scrap value of $60,000 and an estimated useful life of 5 years, was purchased on January 1, 2012. Calculate the depreciation expense for years 2012 to 2016 using: (a) the straight-line method and (b) the double-declining-balance method. Round to the nearest whole number.
The depreciation expenses for the five years using the two depreciation methods are as follows:
Year Depreciation Expenses
Straight-Line Double-Declining
Method Method
2012 $124,000 $272,000
2013 124,000 163,200
2014 124,000 97,920
2015 124,000 58,752
2016 124,000 28,128
Data and Calculations:
Cost of Equipment = $680,000
Estimated Scrap value = $60,000
Estimated useful life = 5 years
Equipment purchase date = January 1, 2012
Depreciable amount = $620,000 ($680,000 - $60,000)
Straight-line Depreciation method:
Depreciation expense for each of the five years = $124,000 ($620,000/5)
Double-declining-balance method:
Depreciation rate per year = 40% (100/5 x 2)
Year Depreciation Reduced
Expense Balance
2012 $272,000 ($680,000 x 40%) $408,000 ($680,000 - $272,000)
2013 163,200 ($408,000 x 40%) 244,800 ($408,000 - $163,200)
2014 97,920 ($24,800 x 40%) 146,880 ($244,800 - $97,920)
2015 58,752 ($146,880 x 40%) 88,128 ($146,880 - $58,752)
2016 28,128 ($88,128 - $60,000) 60,000 ($88,128 - $28,128)
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Joseph is writing a report tracing the three-month development of a new office site. What type of organizational method should he use
Organizational methods refer to the systems of computing activities and events. For Joseph who is writing a report tracing the three-month development of a new office site, he should use the;
Time organizational method.As the name suggests, the time organizational method arranges events according to the time of their occurrence. The same is applicable for the report that Joseph is computing.
He will organize the activities according to the stages and time of occurrence within the three-month time frame.
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Please classify the source of barriers to entry described in each scenario below. ownership of a key input economies of scale government-imposed
a. There are a limited number of licenses for taxi drivers in NYC. ownership of a key input economies of scale government-imposed
b. Drug companies obtain patents so that they can recover research and development costs by the exclusive sale of the drug for some number of years. ownership of a key input economies of scale government-imposed
c. Carribean Cruz owns the only swimmable beach on an exclusive island in the Bahamas
d. The government establishes a quota on how much foreign oil can be imported
e. It is very expensive to build an amusement park, but not that expensive to admit an additional customerf. Building a brewery is a high start up cost operationg. The governemnt established a tariff on tear
The source of barriers to the scenarios described will be:
Government imposed:
There are a limited number of licenses for taxi drivers in NYC.Drug companies obtain patents so that they can recover research and development costs by the exclusive sale of the drug for some number of years. The government established a tariff on tea.Ownership of a key input:
Carribbean Cruz owns the only swimmable beach on an exclusive island in the Bahamas.The government establishes a quota on how much foreign oil can be imported.Economies of scale:
It is very expensive to build an amusement park, but not that expensive to admit an additional customer. Building a brewery is a high start-up cost operation.It should be noted that government-imposed barriers are the barriers that can be in form of patents, licensing, tariffs, etc.
The ownership of key input is when the production of a good requires particular input, therefore, controlling the input can be a barrier to entry.
Economies of scale is when the long run average variable cost of a firm falls as there is an increase in output.
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_____________ are the most diversified of depository institutions and ______________ are on average the largest depository institutions. Multiple Choice Credit unions; commercial banks Commercial banks; commercial banks Banks; savings institutions Credit unions; credit unions Savings institutions; commercial banks
Considering the banking analysis, the Commercial banks are the most diversified of depository institutions, and Commercial banks are, on average, the most extensive depository institutions.
This is based on the banking and finance analysis, which revealed the commercial banks are the most diversified depository institutions and, at the same time, the largest depository.
Commercial banks perform several functions or roles in the economy, which include the following:
Collection of cheques;Mobilization of Savings;Bills and drafts; Receipt of interests and dividends from a customer's investments; Paying interest and installments of loans or insurance premiums, etc.Hence, in this case, it is concluded that the correct answer is option B. "Commercial banks; commercial banks."
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Explaining the benefits of a product feature is part of the ______ in a sales process.
Answer: presentation
Answer:
Prospecting.
Preparation.
Approach.
Presentation.
Handling objections.
Closing.
Follow-up.
Explanation:
Explaining the benefits of a product feature is part of the presentation in a sales process.
What is sales presentation?A sales presentation is a stage in the sales process in which sales professionals show the value proposition of a product or service and use it to persuade potential customers.
Simple and concise presentations are the most successful. They convey a visual story about how your product or service can alleviate your customers' problems. Sales decks should be simple to understand so that your audience can concentrate on the message rather than being distracted by complex words and images.
It demonstrates a grasp of why prospective customers would use our product and how its features can assist them in resolving their problems.
Therefore, in the presentation, the benefits of a product features are explained.
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Placing importance on achieving economic efficiency: A. implies no role for government. B. is a normative judgment. C. is a positive judgment. D. implies that government should be the main coordinating force.
Answer:
I'd say its B
B: is a normative judgment.
Explanation:
Because Business can either be successful of an absolute fail so really it would be half and half.
Placing importance on achieving economic efficiency is a normative judgment, option (B) is correct.
What is economics?The term Economics is the study of scarcity and its inferences for the use of resources, manufacture of goods and services, growth of production and welfare over time, and a great diverseness of other complex issues of vital concern to society.
Economic skillfulness is important because it grants businesses to reduce their costs and change their output. For consumers, economic efficiency leads to lower prices for goods and services. For the government, is a normative judgment. More efficient tautens and higher levels of productivity and worldly activity increase economic growth.
Therefore, option (B) is correct.
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Which of the following attributes of a competitor is important in strategic planning?
How do our competitors define their target markets?
Are our competitors missing any potential markets?
How do our competitors meet the needs of their target markets?
All of the above
Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2021). In 2021, her net Schedule C income was $296,000. This was her only source of income. This year, Rita is considering setting up a retirement plan. What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations
The maximum contribution that Rita can make to SEP-IRA is $55,000
A SEP IRA is a term to refer to an individual retirement plan used in the United States. This plan establishes a maximum limit each year, in the case of 2018 it had a maximum contribution limit of 25% of the annual net salary of $ 55,000.
Based on the above, Rita could make a maximum contribution to the SEP-IRA of $ 55,000 since 25% of her salary ($ 296,000) is $ 74,000.
Note: This question is incomplete because there is some information missing. Here is the complete information.
A. Set up a SEP IRA account. Maximum contribution _______________?
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In general, which two characteristics define a "small" business? (Choose two)
оооо
Answer:
Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.
April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock.
2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent.
3 The company purchased $1,000 of office supplies for cash.
10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.
14 The company paid $1,600 cash for two weeks' salaries earned by employees.
24 The company collected $8,000 cash for commissions revenue.
28 The company paid $1,600 cash for two weeks' salaries earned by employees.
29 The company paid $350 cash for minor repairs to the company's computer.
30 The company paid $750 cash for this month's telephone bill.
30 The company paid $1,500 cash in dividends.
Required:
Journalize the entries.
Answer:
Hybrid bikes
Explanation:
Suppose the government collected $3.2 trillion in tax revenues and spent $3.8 trillion, and discretionary spending was $1.5 trillion. For the government to fully balance the budget this year, how much discretionary spending needs to be cut
Answer:
40%
Explanation:
The type of business risk that refers to a possible risk from a business move is called
O compliance risk
O operational risk
O strategic risk
O financial risk
Answer: The answer is Strategic risk
Explanation:
Edge 2022
Malcolm (37) is a U.S. citizen. He was married at the beginning of 2020. His wife lived in the household until the end of February, then she moved out of the home. Their divorce was finalized on November 30, 2020, and Malcolm has not remarried. Malcolm provided 100% of the support for his son, who lived with him all year and is his qualifying child. Malcolm's most advantageous filing status is:
Based on the fact that Malcolm is a U.S. citizen and provided 100% of the support for his son, who lived with him all year and is his qualifying child, his most advantageous filing status is D. Head of household.
It should be noted that Malcolm can file a separate return from his ex-wife as the head of household. This is due to the fact that he stayed with his son and paid 100% maintenance for the son.
Under the head of household, the gross income is $18650 for those under the age of 65. Malcolm can also get dependent care credit, earned income credit, and education credit.
Therefore, he should file as head of household.
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Novak Corp. sold $4,300,000, 4%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Novak Corp. uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare a bond premium amortization schedule for the first four interest periods. Annual Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium Amortization Unamortized P
The Novak Corp.'s Bond Premium Amortization Schedule is as follows:
Bond Premium Amortization Schedule:
Periods Interest to Interest Expense Premium Unamortized
Be Paid to Be Recorded Amortization Premium
1 $172,000 $159,100 $12,900 $116,100 ($129,000 - $12,900)
2 $172,000 $159,100 $12,900 $103,200 ($116,100 - $12,900)
3 $172,000 $159,100 $12,900 $90,300 ($103,200 - $12,900)
4 $172,000 $159,100 $12,900 $77,400 ($90,300 - $12,900)
Data and Calculations:
Face value of bonds = $4,300,000
Proceeds from bonds = $4,429,000 (1.03 x $4,300,000)
Premium on bonds = $129,000 ($4,429,000 - $4,300,000)
Annual amortization of bonds premium = $12,900 ($129,000/10)
Coupon interest rate = 4%
Maturity period = 10 years
Date of issue = January 1, 2022
Annual interest payment = $172,000 ($4,300,000 x 4%)
Annual interest expense = $159,100 ($172,000 - $12,900)
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If you save $ 12 each week at 6% annually how much will be your money in 5 years
Answer:
Explanation 1000
Place the six steps of the accounting cycle in the correct order. Rank the options below.
a. Prepare financial statements.open choices for ranking
b. Analyze financial statements.open choices for ranking
c. Take a trial balance.open choices for ranking
d. Transfer (post) journal entries to ledger.open choices for ranking
e. Record transactions in journals.open choices for ranking
f. Analyze source documents (sales slips, travel records, etc.).
Considering the steps listed in the question, the six steps of the accounting cycle in the correct order is option F => E => D => C => A => B.
This is entirely written below for better understanding.
First step: (F) Analyze source documents (sales slips, travel records, etc.). -- this is known as analyzing cycle.
Second step: (E) Record transactions in journals. -- this is known as recording cycle
Third step: (D) Transfer (post) journal entries to the ledger; -- this is known as classifying cycle.
Fourth step: (C) Take a trial balance; -- this is known as the summarizing cycle.
Fifth step: (A) Prepare financial statements; -- this is known as the reporting cycle.
Sixth step: (B) Analyze financial statements -- this is known as the interpretation cycle.
Hence, in this case, it is concluded that the correct answer is "option F => E => D => C => A => B."
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MARK AS BRAINLY//
One consumer protection agency that can take legal action against
companies that violate consumer rights is the
A. Consumer Financial Protection Bureau
B. Robinson-Patman Administration
ОО
C. Better Business Bureau
D. Food and Drug Administration
Answer: CFPB, or FTC.
Explanation: FDA does nothing for consumer rights. BBB is mainly for reveiws, and treatment of consumers. R-PA is to stop price changing.
One consumer protection agency that can sue, the Consumer Financial Protection Bureau. Option A is correct.
What is the role of Consumer Financial Protection Bureau?The Consumer Financial Protection Bureau is a mid-20th organization that integrates and specifies Federal consumer financial law and clear correlation, clear, and competitive marketplace for consumer financial products.
Therefore, option A is correct.
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1. Before there was a federal income tax, what taxes did Americans have to pay?
2. Explain why tariffs are considered regressive taxes.
3. Describe the first institution of the income tax in the United States, the reason behind it, and what happened to it.
4. Even though the amendment that allowed income tax was passed again in 1913, what events led to its being enforced among all Americans?
5. How did the government try to influence citizen’s views of paying income tax? Would this have worked for you?
6. How can the government drive their policies using income tax?
Answer:
1.local property taxes and tariffs
2.tax applies equally to everyone
3.The system of tax began in America in the year 1861, this was during the civil war, where the Congress passed an Act that included a tax on personal incomes in order to meet up war expenses.
4. The Revenue Act of 1913
5.As in the Civil War, Congress turned to the income tax to quickly raise large amounts of revenue. In 1917, Congress lowered the standard exemption to $1,000 for individuals thus expanding the taxpayer pool. At the same time, the lawmakers increased the base tax rate from 1 percent to 2 percent.
6.when we according rule of tax now the citizen buying the tax the government can drive any purpose
Explanation:
Fred, a software engineer, is in charge of scrutinizing electronic communication patterns as part of his role as leader of a virtual team at work. Fred’s role fulfills which practice of leading virtual teams?
Answer:
Monitoring progress and rewards
A measure of a company's solvency is the asset turnover ratio. acid-test ratio. current ratio. times interest earned.
Answer:times interest earned
Explanation:
A measure of a company's solvency is the times interest earned. Thus, option (d) is correct.
What is solvency?
Solvency is a term used to describe a person's or organization's financial stability, usually in reference to whether or not the party has more assets than debt.
The ability of a company to pay its long-term debts and obligations is evaluated using a solvency ratio. The equity ratio, the debt-to-assets ratio, and the interest coverage ratio are the three primary solvency ratios.
As a result, option (d) is correct.
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Which of the following behaviors is consistent with the socioemotional role?
reduce tension, give opinions, compromise, seek information, all of these
Answer:
all of these
Explanation:
Wesley Company makes bowling balls and uses the total cost method in setting product prices. Its costs for producing 10,000 bowling balls follow. The company targets a 12.5% markup on total cost. The dollar markup per unit is:
The dollar markup per unit is $18.25 per unit
Total cost per unit = Direct materials per unit + Direct labor per unit + Variable overhead per unit + Variable selling general and administrative per unit + Fixed overhead per unit + Fixed selling general and administrative overhead per unit
Total cost per unit = $63 + $13.8 + $23 + $3.8 + ($222000/10000) + ($202000/10000)
Total cost per unit = $63 + $13.80 + $23 + $3.80 + $22.2 + $20.2
Total cost per unit = $146 per unit
Dollar markup per unit = Total cost per unit × Markup% on total cost
Dollar markup per unit = $146 * 12.5%
Dollar markup per unit = $18.25 per unit
Therefore, the dollar markup per unit is $18.25 per unit
Missing options are "Direct materials $63 Overhead $222,000 Direct labor $13.80 Selling, general, and administrative $202,000 Overhead $23.00 Selling, general, and administrative $3.80"
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Malcolm Bagget has been working as a production employee for the last three years. His firm is currently undergoing a change in structure with a new management group and the production department is being restructured. Each production employee will be assigned to a small, six-member production team. Malcolm is looking forward to the extensive cross-training that has been promised and is looking forward to enjoying more power and discretion than he has had in the past. In addition to skill training, Malcolm is receiving management training in team building.
One of Malcolm's coworkers, Danny Newcomber, reduces tension in the group by telling jokes and diffusing emotions. Additionally, Danny can be counted on to energize the team by stimulating the members into action when their interest drops. Which of the following roles is Danny demonstrating?
Answer:
task specialist and socioemotional roles
Explanation:
Which type of savings account offers the best interest rates?
A. Savings account
B. Checking account
C. Money market account
D. Certificate of deposit
Certificate of deposit is a type of savings account offers the best interest rates. It has the highest rate of interest among all the savings accounts, but they have limited funds.
What is Certificate of deposit?Certificate of deposit is the saving account that holds the fixed amount of money for a particular fixed time like six months, 5 years and according to that back pay the interest.
When a person redeem or take out the money from certificate of deposits they get the whole amount with the interest.
Thus, option D is correct.
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Jack Masters earns $40,000 a year. His monthly expenses total $2,100. What is the minimum amount of money that Mr. Masters should set aside in an emergency fund
Based on Mr. Jack Masters' monthly expenses of $2,100, he should set aside $6,300 or three months of his monthly expenses as the minimum for the emergency fund.
Data and Calculations:
Masters annual earnings = $40,000
Monthly expenses = $2,100
Maximum fund for emergency = $12,600 ($2,100 x 6)
Minimum fund for emergency = $6,300 ($2,100 x 3)
Thus, Jack Masters should aim to put aside $6,300, which represents three months of his living expenses, while the maximum fund for emergency should be $12,600 or six months of monthly expenses.
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What kind of fiscal policy would work fastest during a recession and would be effective at growing the economy, as opposed to working more slowly during a recession
The kind of policy that would be very effective during recession, and for the economy growth is Expansionary fiscal policy.
Expansionary fiscal policy can be regarded as one that would bring an increase to the level of aggregate demand.This can take place through increases in government spending as well as reductions in taxes and this will be good to tackle the recession.We can conclude that Expansionary fiscal policy is right.
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Dale's work team is beginning to resolve its conflicts, and consensus is developing on such things as members' roles. Dale's team is in which stage of team development?
A) Norming B) Forming C) Storming D) Performing E) Reforming
Answer:
A) Norming
Explanation:
