BUSINESS HIGH SCHOOL

The beliefs, attitudes, and behavior associated with a person or group; a way of life.Career

Interests

Lifestyle

Values

Answers

Answer 1
Answer: Hello, FiellyEsbnaye!

Lifestyle is the beliefs, attitudes, and behavior associated with a person or group; a way of life. It is your way of life to make it simple. 

Answer: Lifestyle

Hope this helps :)
Answer 2
Answer:

Answer:

Values

Explanation:

I took the test.

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The act that reduced the tax on British tea in order to give it an unfair advantage over tea imported from other countries was the

Answers

Answer:

Tea Act.

Explanation:

The act that reduced the tax on British tea in order to give it an unfair advantage over tea imported from other countries was the Tea Act.

The Tea Act was passed by the British parliament on the 10th of May, 1773. The act granted the British tea company a monopoly on the importation of tea to the American colonies, as well as eliminated the customs duty on British tea and permitted its direct export to America.

What are indicators that economists use to measure how an economy grows? Select all that apply.

Answers

Answer;

  • measuring what the economy produces
  • studying the economy of another country
  • tracking how many workers have jobs

Explanation;

An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance.

Economic indicators are key statistics that indicate the direction of an economy. While the indicators can be numerous, there are three broad categories of economic indicators: leading indicators, coincident indicators and lagging indicators.

The indicators that economists use to measure how economy grow is comparing the economy of a country to other countries economy especially countries that are doing well.

What are indicators?

Indicators act as pointers, they are used to identify either a problem or progress.

They can help to know or measure progress in company or country.

Therefore, The indicators that economists use to measure how economy grow is comparing the economy of a country to other countries economy especially countries that are doing well.

Learn more on indicator below

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During 2016, P Company discovered that the ending inventories reported on its financial statements were incorrect by the following amounts:2014 $120,000 understated
2015 150,000 overstated

P uses the periodic inventory system to ascertain year-end quantities that are converted to dollar amounts using the FIFO cost method. Prior to any adjustments for these errors and ignoring income taxes, P's retained earnings at January 1, 2016, would be:

Answers

Answer:

$150,000 overstated

Explanation:

Given

2014 $120,000 understated

2015 150,000 overstated

Using the FIFO cost method, the retained earnings would be $150,000 overstated.

The understated earnings of $120,000 would affect the earnings of 2014 cost of goods sold to be entered as overstated. At the same time, this would understate the net income and the retained earnings.

Having mentioned the above, this would also affect the beginning Inventory of 2015 cost of goods sold to be understated. By the same virtue, this would overstate the net income and the retained earnings by the same amount the net income and retained earnings is understated, effectively correcting the balance of the retained earnings.

Lastly, The $150,000 overstated ending inventory would then affect the 2015 cost of goods sold to beunderstated; this would overstate the Net Income and Retained Earnings.

Answer:

P's retained earnings are overstated by $150,000.

Explanation:

First of all, the $120,000 inventory understatement would cause the 2014 cost of goods sold to be overstated. In other words, profits and consequently retained earnings were understated because COGS were too high.

Because the 2014 ending inventory was understated, the beginning inventory in 2015 would be understated also. Since the initial inventory was understated, the COGS would be too low during 2015, which would end up correcting the previous error during 2015 (both profits and retained earnings should level up).

By the end of 2015, an error happened again and this time the ending inventory was overstated by $150,000, which understates COGS and overstates profits (and retained earnings). This should also be corrected during 2016, but since we are asked about January 1, 2016, then the correction hasn't occurred yet.

The problem with a periodic inventory system is that COGS is determined at the end of the accounting period, unlike a perpetual inventory system that records COGS immediately. Any variation in final inventory will change profits and directly affect retained earnings.

determine the interest that would be charged on a two-week $300 payday loan if the interest rate is 520%, and the interest is compounded at the end of the two weeks. Explain how you came to your answer

Answers

Answer:

$60

Explanation:

The computation of the interest is shown below:

= Principal × interest rate × number of weeks ÷ total number of weeks in a year

= $300 × 520% × 2 weeks ÷ 52 weeks

= $60

Basically we applied the simple interest formula and we assume the total number of weeks in a year is 52 weeks

So, the interest at the end of two weeks is $60

Tactical planning would include which of the following?a. Profit goals
b. Design, test, and install the equipment needed to produce a new product line
c. Human resources requirements
d. Return on investment

Answers

Tactical planning would include the following [b. Design, test and install the equipment needed to produce a new product line].
Usually tactical planning the longest kind of planning since it involves all the procedure which is needs to be done to start the work.

The Supplies account for Vulcan Cleaning Services had a debit balance of $200 at the beginning of the month. Additional supplies of $1,400 were purchased during the month. A physical count of supplies revealed that $600 of supplies was still on hand at the end of the month. What was total Supplies expense for the month?

Answers

Answer:

$1,000

Explanation:

Beginning balance in supplies account = $200

The supplies account is an asset account and ordinarily should have a debit balance. If additional supplies of $1,400 were purchased during the month, it goes into the account as a debit.

If at the end of the month, only $600 of supplies was still on hand total supplies expense

$200 + $1,400 - supplies expense = $600

supplies expense = $200 + $1,400 - $600

= $1,000

The supplies expense is debited when supplies are used and the corresponding credit goes to the supplies account.
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