INTELLIGENCE HUB GET THE EPITOME OF EDUCATION.

1.What is the definition of a contract? - ANSWER A promise that the law will enforce 2. Describe the various types of contracts? - ANSWER *Bilateral Contract *Unilateral Contract *Express Contract *Implied Contract *Executory Contract *Executed Contract *Valid Contract 3. Bilateral Contract - ANSWER Both parties make a promise 4. Unilateral Contract - ANSWER One party makes a promise that the other party can accept only by doing something. 5. Express Contract - ANSWER The two p...

1. Which of the following best exemplifies a communicator's professional context influencing communication? - ANSWER Morgan, an architect, prefers to communicate ideas visually. 2. Cross-cultural competency is best defined as the ability to - ANSWER understand and adapt to the preference for individualism or collectivism, religious beliefs, political environment, and ideas about social hierarchy of different countries. 3. In the process of communication, once the primary sender of a mes...

1. What are some potential negative effects of a business? - ANSWER Generating pollution and waste; creating health and safety risks; disrupting communitites; causing financial instability; 2.What's the economy? - ANSWER The economy is the sum of all economic activities within a given region. It's the study of how a society uses its resouces to produce godds and services, 3.Why small businesses fail - ANSWER Lack of experience, lack of commitment, lack of strategy, lack of experti...

1.___________ is getting work done through others. - ANSWER Management 2. __________ is getting work done with a minimum of effort, expense, or waste. - ANSWER Efficiency 3. ___________ is accomplishing tasks that help fulfill organizational objectives. - ANSWER Effectiveness 4.The management function of ____________ involves deciding who will work for whom in a company. - ANSWER Organizing 5. The basic ____________ process involves setting standards to achieve goals, comparing actua...

1)Process costing - ANSWER Accounting system used when identical units are produced through a series of uniform production steps. Does not separately record the costs for each unit. Homogeneous Products, Ex. Petroleum, Paint 2) Job costing is ________. A) used by businesses to price identical products B) used by businesses to price unique products for different jobs C) used to calculate equivalent units D) used to calculate the percentage of work completed - ANSWER Answer: B 3) Ac...

1) Is the bond trading at par, premium or discount, when... 1) Coupon Rate > Risk-free rate (discount rate) 2) Coupon Rate < Risk-free rate (discount rate) 3) Coupon Rate = Risk-free rate (discount rate) - ANSWER Subject: FIXED INCOME 1) Premium (pay premium for higher interest rate than what you get in the market) 2) Discount (pay less as you could get a better interest from investing in a risk-free asset) 3) At par (Coupon = Discount Rate, meaning it trades at par,...

1. A firm has common stock of $98, paid-in surplus of $350, total liabilities of $450, current assets of $470, and net fixed assets of $650. What is the amount of the shareholders' equity? - ANSWER SE= current assets + net fixed assets - total liabilities SE= 470+680-450= 700 2. Ivan's Inc. paid 492 in dividends and 591 in interest the past year. Common stock increased by 201 and retained earnings decreased by 127. What is the net income for the year? - ANSWER NI= dividends paid + chan...

1. US companies must follow GAAP or IFRS in their - ANSWER Financial Accounting 2. Financial accounting develops reports for external parties such as - ANSWER creditors and shareholders 3. ________ are a company's decision makers. - ANSWER managers 4. ________ is designed to meet the needs of internal decision makers. - ANSWER Managerial accounting 5. What position is typically responsible for general financial accounting, managerial accounting, and tax reporting? - ANSWER Control...

1. Why does a business need accounting information? - ANSWER Accounting records business transactions and communicates financial information. 2. The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners. 3. Which of the following statements below lists the rules of entering transactions into the accounting equation? - ANSWER The accounting equation must always remain in balance so that assets always equal the...

1. Define basic research (Jackson, 2010) - ANSWER the study of psychological issues in order to seek knowledge for its own sake; research that concerns describing, predicting, and explaining the fundamental principles of behavior and mental processes (Goodwin, 2010) 2. Define applied research (Jackson, 2010) - ANSWER The study of psychological issues that have practical significance and potential solutions; research that has direct and immediate relevance to the solution of real-world problem...