Answer:
The aspect of career readiness the manager feel Corinne was lacking was Knowledge
Explanation:
Career readiness is the preparation and process of acquiring skills, knowledge, talents that are required to start a career, maintain one's position in such career and grow.
The aspect of career readiness the manager feel Corinne was lacking was Knowledge because see made a statement that implied that Corinne lack basic understanding of accounting practice.
Knowledge is an aspect of career readiness that has to do with the theoretical or practical understanding of a subject matter. It is the information, skills and facts gained through experience and education.
Other skills that are acquired in the process of career readiness are communication skills, human relation skills, critical thinking skills etc.
b) $21,000.
c) $20,000.
d) $18,000.
e) $27,000.
Answer:
c) $20,000.
Explanation:
The computation of the estimated ending inventory is shown below:
We know that
Cost of goods sold = Beginning inventory + purchase made - ending inventory
And, the
Sales - gross profit = Cost of goods sold
$100,000 - $100,000 × 30% = Cost of goods sold
So, cost of goods sold would be
= $100,000 - $30,000
= $70,000
Now the ending inventory would be
$70,000 = $18,000 + $72,000 - ending inventory
$70,000 = $90,000 - ending inventory
So, the ending inventory would be
= $90,000 - $70,000
= $20,000
Based on 30% gross profit ratio, the estimated end inventory for the Big Box Store for the second quarter is $20,000, after accounting for cost of goods sold from the total available inventory.
The Big Box Store operates at a 30% Gross Profit Margin, implying 70% of the sales are accounted as Cost of Goods Sold (COGS). Therefore, the COGS for the second quarter would be $100,000*0.7 = $70,000.
The initial inventory at the beginning of the quarter was $18,000 and $72,000 amount of inventory was purchased during the quarter. So total available inventory is $18,000 + $72,000 = $90,000.
If we subtract the COGS from total available inventory that gives us the estimated ending inventory. That is $90,000 - $70,000 = $20,000. Therefore the estimated ending inventory from Box Store will be $20,000.
#SPJ3
B. to invest in the business’s stocks
C. to invest in stocks and make business decisions
D. to analyze the risk involved in lending money to the business
E. to understand the risk involved in lending resources to the business
Answer:
C. to invest in stocks and make business decisions
Internal users need financial data to make informed business decisions and compare business performance with previous years. Financial data offers insights into the business's operational aspects and can be used to identify trends and areas of growth or improvement. Options B, C, D, and E are more related to external users such as investors and creditors.
Internal users need financial data primarily to make informed business decisions and assess performance. Financial data provides insights into business operations such as profitability, effectiveness, and efficiency. It can also be used to benchmark performance against previous years, identifying trends and areas of growth or improvement.
Option A: to make business decisions and compare business performance with previous years is correct.
Options B, C, and D: to invest in the business's stocks, to invest in stocks and make business decisions, and to analyze the risk involved in lending money to the business, respectively pertain more to external users like investors and creditors, not internal users.
Option E: to understand the risk involved in lending resources to the business, seems partially correct. Internal users may use financial data to understand risk regarding resource allocation; however, the term 'lending' is generally mostly associated with external entities, such as banks.
#SPJ2
Answer:
The answer is: B) lost ownership of the stock.
Explanation:
In the 1920s traders borrowed on margin to buy stocks. This means that they put a little amount of money to secure the buying of the stock and then borrowed the rest to complete the purchase. The problem with this was that if the price of the stock fell, the trader would lose all the money. On the other hand if the value rises, then the trader could make a lot of money. This was a very risky business practice.