Answer:
inflation rate = 17.5 percent per year ⇒ it will take 4 years to double
inflation rate = 35 percent per year ⇒ it will take 2 years to double
inflation rate = 3.5 percent per year ⇒ it will take 20 years to double
Explanation:
we can use the rule of 70 to determine the amount of time it would take the general price level to double.
the rule of 70 is a simple way we can use to estimate the number of years it will take an investment to double given a certain growth rate.
70 / 17.5 = 4 years
70 / 35 = 2 years
70 / 3.5 = 20 years
-preparing questions to ask the interviewer
-practicing interviewing with a friend
Answer:
preparing questions to ask the interviewer
Explanation:
I am taking the test right now. If i am incorrect I will correct this answer. and be free to let me know what the answer is.
goods that consumers demand more of when their incomes increase
B) mortgage payment
C) car insurance payment
D) expenses for a birthday party
hint the only one that would vary significantly from month to month.
explanation: Fixed expenses are those items in a budget which are consistent from month to month. In this list, only the expenses for a birthday do not fit this category.
so your answer will D expenses for a birthday party.
a. True
b. False
Option A is correct. Short term goals can be set to help achieve specific long term goals. This statement is true.
Further Explanation:
Short term goals refer to the goals which the company has to achieve for a short period, maybe for six months or less than it. The company set its short term goals in accordance with the long term goals. Long term goals refer to the goals which the company has to achieve in the long term may be for one year or more than one year. For example, the company's long term goal for sales is $500,000 for one year. The company set its short term goal with respect to long term goals. So, after one year, the company has achieved its targets of $500,000.
Justification for the correct and incorrect answer:
A.
True: This option is correct.
Short term goals can be used for achieving specific long term goals. Short term goals have the path towards the long term. This statement is true.
B.
False: This option is incorrect.
This statement is not true. As explained in the above paragraph; the company set their short term goals in that manner so that their long term goals are automatically achieved.
Learn more:
1. Learn more about short term goals
2. Learn more about budgeting
3. Learn more about budget goal
Answer details:
Grade: Middle School
Subject: Accounting
Chapter: Budgeting
Keywords: short goals, specific achieved, long term goals, more than one year, more than six months, can be set, company.
Short-term goals can be set to help achieve specific long-term goals is true. Therefore, the correct option is A.
Short-term goals are basically immediate objectives that help in the overall progress of long-term goals. By dividing the long-term goals into manageable short-term goals, individuals or organizations can make an action plan to achieve them.
Short-term goal setting is a self-improvement activity that involves creating realistic targets that may be accomplished in a short amount of time. They can be used in both personal and professional settings.
Thus, the ideal selection is option A.
Learn more about Short-term goal here:
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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.
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