From experienced academic experts. In any field of study
On October 28, 312 A.D., Constantin the Great defeated his rival Maxentius against all odds and attributed his victory to the God of Christians. In an attempt to retreat by the Milvian Bridge, most of the Maxentius’s army and himself drowned in the Tiber. Explanation: Emperor Diocletian planted the seeds...
The answer to the question of what is the Lend Lease Act is explored through the historical context: it is the legal document regulating the process of renting military equipment and machinery to allied countries during World War II. The purpose of the Act was to document assistance to other...
Allowance for uncollectible accounts is a method of tracking and writing off the receivables that the clients will not pay. It creates a separate allowance for the revenue that the company suspects it will not receive in the future. The uncollectible accounts are written off from that allowance, rather than...
Debtor’s turnover ratio is a system that allows establishes the degree of success of a company in providing and obtaining credit funds. The receivable turnover ratio formula enables to see and evaluate the benefits of using the company assets. A high or low ratio is direct evidence of the effectiveness...
The best ways to lower monthly mortgage payment can be these four steps. The first one is refinancing, taking into account the age of the loan and interest rate. The second step is to stop paying private mortgage insurance. Last two ways involve a standard loan extension and protesting the...
Confederal government represents a system of allied states united in order to achieve a specific geopolitical goal. This structure has a joint government with the participation of a representative of each of the countries that have entered. The creation of a confederal government is secured by signing a multilateral protocol....
The Anaconda Plan was part of the military campaign of the Federal Army against the southern states during the Civil War. It assumed the naval blockade of ports of the Confederacy as well as the establishment of control and transfer of troops along the Mississippi River. The name of the...
Unlevered free cash flow or unlevered FCF is a critical part of free cash flow that can be paid to both equity holders and debt holders. In other words, any free cash flow, which is available to be given for stakeholders of a company is called unlevered free cash flow...
Prepaid rent is recorded on the balance sheet as an asset, although it is important to understand that all rents are expenses, whether they are prepaid or not. Prepaid rent in trial balance is allocated in the asset column because it is recognized as a future expense, which is not...
The Bisbee Deportation event is an illegal deportation occurrence, where Phelps Dodge ordered to deport 1300 protestants in 1917. The given event Bisbee deportation took place in Bisbee, Arizona, and the Bisbee deportation significance was conducted by kidnapping and arresting striking miners and their supporters. The victims were loaded on...
The American Liberty League was founded in 1934 as an opposition to the forces of President Roosevelt. Its members demanded a review of the social and economic situation in the country, namely the cessation of preferential support for unemployment and the abolition of public works. Explanation: U.S. history knows many...
The Maryland Toleration Act is a historical document, founded on April 21, 1649, in the current state of Maryland, USA. The Act legally established religious freedom, but only among Christians. Thus, according to the regulations, it was possible to believe in any unit of the Christian religion. It was forbidden...
The primary goal of the CFPB, created by U.S. President Barack Obama as part of his administration’s financial regulatory reform, is to oversee the provision of legal information regarding the rights and responsibilities of Americans who use the services of the country’s financial institutions. Explanation: The U.S. Consumer Financial Protection...
Data lifecycle management goals are to implement an approach based on policy in order to manage the flow of data and information. It is tightly interlinked with information lifecycle management techniques to ensure that all data pass through a specific set of stages. Three main goals of lifecycle management of...
The task that includes activating local resource requirements is the task of order and acquiring, the second step of the resource management during incidents. Explanation: Resource management is an effective process of planning and allocating the resources in order to maximize their efficiency when it is needed. For instance, there...
The schedule of cost of goods manufactured is a way of calculating the costs spent by a company on production. It is commonly used in accounting as a measure of the total cost of goods produced during a particular period. Explanation: Cost of goods manufactured statement is an important element...
Marginally attached workers are underemployed workers who are not currently in the labor force but are available and want to be employed. According to the employment survey, these individuals have searched a position during the last twelve months but did not conduct any search for the last four weeks. Explanation:...
The purpose of the self-strengthening movement in China was to help the country recover from the repeated failures in wars in the middle of the 19th century. The Chinese authorities intended to reform the military and economic sectors to strengthen the state’s position in comparison to the European countries at...
Christianity, as a religion, originated from the teachings of Jesus, a son of a carpenter. The timeline of the expansion of Christianity throughout the world started in the 1st century AD, after the death of Jesus. This religion was spread by Jesus’ disciples, emperors, nuns, and monks around the Mediterranean...
A static budget is another name for a fixed amount of financial assets that a business entity plans ahead of the operation. It is most effectively used by companies that can easily predict their sales and expenses. Explanation: Static, or, in other words, non-flexible, budget is planned by a business...
Book is related to chapter as organization is related to department. The type of correlation between these pairs of words is that book, as well as organization, are aimed to define bigger entities, which consist of smaller parts, such as chapters of a book and departments of an organization. Explanation:...
Credit card balance is the amount of money you still owe to the credit card company. A credit card issuer gives an individual a period to pay the money back, and the balance shows how much money should be paid. Explanation: A credit card is a plastic card which is...
“Tory” is a word, used mostly in the UK and Canada, to describe a person or organization with conservative or traditionalist political views. It was used to refer to a number of political factions in history and can currently refer to the Conservative Parties of the UK and Canada. Explanation:...
The Roosevelt Corollary to the Monroe Doctrine justified US military intervention in other countries. It was President Theodore Roosevelt’s response to Britain, Italy, and Germany’s naval blockade against Venezuela for refusing to pay foreign debts. Explanation: The Monroe Doctrine was a United States policy issued on December 2, 1823. At...
The guiding principle of standardization is the one that is directed to the interoperability among organizations in case of an incident. Explanation: The National Incident Management System (NIMS) is responsible for handling cases of incidents. The primary purposes of this system can be defined as saving lives, protecting the environment,...
Panama Canal treaty was signed between the US and Panama in 1977 and ratified by the US in 1978. The signatories were the US President Jimmy Carter and Panamanian Colonel Omar Torrijos. The treaty is one of two Torrijos-Carter treaties that regulate the rights of the US and Panama for...
The market demand curve derives from the summation of the individual demand curves of all consumers in the market. Explanation: The market demand curve reflects market demand. The market demand curve is flatter than the individual demand curves. It happens because when the price changes, the proportional change in market...
The short-run supply curve – reflects the situation when one of the factors of manufacturing has a fixed nature, and the other factors are variable. Explanation: Factors that have a fixed nature are usually the principal costs of the enterprise, in particular – manufacturing equipment, while variable factors – are...
A conflict of interest (COI) management plan is a document that outlines and implements measures to actively reduce, mitigate, or eliminate an actual, potential, or perceived conflict of interest held by an employee. The COI management plan aims to manage the conflict of interest and make it as transparent as possible...
The law of demand is a term used in microeconomics, which states that when other things that affect demand held constant, quantity demand and price of a good or service are inversely related to each other. When a price for a product falls, the demand for the same product increases,...
American Handgunner is a 110 plus pages magazine dedicated to handguns and all related shooting products. The magazine is published by FMG Publications and targeted at the consumer magazine sector of the market. It is positioning itself as the world’s best handgun magazine. Explanation: The magazine industry is dependent on market segmentation...
A younger investor who has enough time to regain their money in case of loss might want to choose a risky investment portfolio. Most experts agree that a portfolio heavily weighed to stocks is considered riskier than other types. Explanation: According to FinancesOnline.org, the most common types of investment instruments that...
The Convention of 1818 is a bilateral agreement between the United States and British North America (later Canada), which resolved territory disputes between the two nations setting the boundary at the forty-ninth parallel of latitude. It was the only territory cession the U.S. made to the United Kingdom and, at...
Full Faith and Credit Clause is a clause from Section 1 of Article IV of the US Constitution that describes interstate relations. Section 1 of Article IV says: “Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State....
The Cannon-Bard theory is a psychological explanation of emotions. Its main concept is that bodily arousal and emotional experience occur simultaneously. In the cannon-bard theory, the thalamic area of the brain is the key player. Explanation: The Cannon-Bard theory was developed in 1927 by psychologist Walter Cannon and his doctoral...
The person who receives financial protection from a life insurance plan is called a beneficiary. It can be one person, several people, or charity. A beneficiary does not have any duties; this individual only receives a death benefit after the death of the insured person. Explanation: If a person is...
The question that individuals ask during the norming stage of group development is, “What do the others expect me to do?” It matters because the knowledge of questions that team members ask themselves at different stages of team development helps a leader to manage them effectively. Explanation: To perform various...
Total manufacturing cost is the sum of costs of all resources consumed in the process of manufacturing goods. Explanation: Here is the formula for total manufacturing cost: Total manufacturing cost = Direct materials cost + Direct labor cost + Manufacturing overhead. Manufacturing overhead or overhead costs are all indirect costs...
In addition to the amount of income an individual has earned, a pay stub contains information about withholdings, such as federal taxes, state taxes, or Medicare. Explanation: The amount of money withheld per pay period, typically due to federal or state taxes, varies from person to person. A pay stub...
James Cash Penney was known for establishing JC Penney Company, which is a chain of department stores selling a wide variety of goods. The store chain has become one of the largest in the U.S. Explanation: The biography of James Cash Penney has quite a trivial beginning. He was born...
The Cost of Goods Manufactured (COGM) formula is used to calculate the total expenses of manufacturing a product. Explanation: The production of goods involves expenses, which need to be calculated in order to understand a company’s income and residue. The COGM formula examines the expenses related to producing finished goods,...
The Treaty of Brest-Litovsk influenced World War I in three ways: it allowed Russia to withdraw from the war, allowed Germany to focus on the Allies, and forced Russia to give territory to Germany. Explanation: The Treaty of Brest-Litovsk was a separate peace agreement signed on the 3rd of March,...
Payday loans have the highest interest rates out of different payment methods. Explanation: Different payment methods have different benefits, but the downside of many of them if the interest rates charged for their usage. Trying to decide, what is not a common credit card fee, card users attempt to avoid...
The card stacking propaganda is a technique which can be used in politics or marketing in order to appeal to the listeners by way of exaggerating positive fact and omitting negative information. Explanation: Card stacking is a form of propaganda, used in marketing, different advertisements, political speeches, and campaigns. Card...
To become president of the United States, the candidate should be thirty-five years old or more. Other requirements include being a United States citizen born in the country and residing in the U. S. for at least fourteen years. Explanation: President elections in the United States contain several stages, which...
Historians are used to consider the Manchurian incident as the seizure of the Chinese town of Mukden in September 1931, followed by the intervention of Japanese troops into Manchuria. This historical event is often called the Mukden incident as well. Explanation: To justify the invasion into the territory of Northeast...
A bond indenture (also called “indenture” or “trust indenture”) is an agreement made between a bondholder and an issuer to regulate the terms of payouts. It determines the amount of invested funds, bond maturity date, and the method of calculating the interest rates. Explanation: A typical bond indenture includes conditions...
Investors consider bonds as a lower-risk investment as the prices for bonds are more stable than the stock prices. Stocks are considered a higher-risk investment as they are volatile, and depend on market fluctuations. Explanation: Stocks represent a stake in a given company. If stockholders own 51% of the company’s...
Money can be exchanged for goods and services because it is accepted as an exchange means for different products. Explanation: Money’s primary function is being a means of exchange for people to be able to get goods and services desired. Before the invention of money, people used to barter, but...
GDP can be calculated using the expenditure approach, which is based on the spending amount in the country. Explanation: The country’s GDP (general domestic product) features many economic indexes and provides information on the level of the country’s economy. There are several ways to calculate the country’s GDP, and the...
The allowance method is used to account for potential bad debts that may occur within a company’s sales. Explanation: Companies aim to increase income and avoid expenses as much as possible. However, some expenses are unpredictable. For example, bad debt expenses occur when clients make purchases but do not pay...
The FDA looks at the possibility of financial conflicts of interest (COI) in clinical studies. It requires applicants to submit documentation to reveal potential financial conflicts in order to prevent racketeering. Explanation: The FDA reviews the financial interests related to a particular research study and decides whether a conflict exists....
Unearned revenue is the amount that the company owes to the customer until an ordered product or service is delivered to him. The unearned revenue counts as a liability as the product remains refundable and cannot turn into income until the customer receives a product or a service in full....
The purpose of the government is to maintain peace among the states, create markets, and control the functioning of commerce. The government can perform such functions due to the developed government system with the help of the Constitution. Explanation: The government system in the US is unique as it is...
The direct write off method is used in accounting to charge customer’s liability as an expense if the account is determined as uncollectible. This method is more convenient to perform as it uses an actual amount of bad debt. The other commonly used alternative is an allowance method. Explanation: An...
When a bond becomes due, the issuer is required to pay the amount of money that they arranged with the holder, plus the interest. The terms of maturity for each type of bond are different. Explanation: In accounting, a bond is a form of borrowing, specifically a fixed-income investment. A...
The Supremacy Clause is article 6, clause 2, of the Constitution of the United States, which establishes the hierarchy of laws in the American state. It states that the U.S. Constitution, federal laws, as well as all international treaties concluded, are supreme laws concerning specific state constitutions and regulations, and...
New Jersey v. T.L.O case impacted the way search is conducted in schools and established the reasonable search that does not contradict with the Fourth Amendment if a suspicion of criminal activity is present. The U.S. Supreme court ruled in New Jersey v. T.L.O is effective January 15th, 1985. Explanation:...
Slave trade compromise is one of the compromises accepted by American states’ delegates during the constitutional convention in Philadelphia in 1787. It stated that Congress has no right to ban the slave trade until 1800, subsequently extended until 1808. At the same time, the compromise provisions allowed Congress to levy...
U.S. President Roosevelt adopted cash and carry policy in order to provide support to allied countries during World War II against Nazi Germany. Under the terms of this policy, the allies had to pay for American supplies immediately and transport them out of American territory on their ships and under...
The primary purpose of a Certificate of Confidentiality (CoC) is to allow institutions and agencies to protect identifiable and sensitive research information on the subject of a study. The main principle of the CoC is that investigators cannot be compelled to disclose any data under the protection of the certificate....
The monetary unit assumption is an accounting principle which states that all economic events and business transactions should be reflected in monetary terms. In other words, all such events and transactions have a monetary dimension into which they should be converted and then reported on the financial statements. Explanation: The...
Primary deviance is considered to be an individual’s behavior that deviates from the cultural norms accepted in his society. If it is primary, an act of deviance made by the individual is insignificant, meaning that he is not regarded by others as a deviant person and does not consider himself...
The cost of revenue is the net cost of the products or services provided by the company, excluding secondary costs such as research and development-related expenses. The cost of revenue includes all expenses necessary to produce basic products or services. Explanation: The cost of revenue is one of the principal...
Price skimming is a type of pricing strategy aimed at setting a high price to maximize profit when a new, much improved, or innovative product is launched onto a market. Explanation: The objective of price skimming is to skim off the first waves of revenue from those prepared to pay...
A binding price ceiling is a maximum price set by the government a seller is allowed to charge. Explanation: Free markets, when left to their devices, tend to achieve a state – equilibrium, in which the quantity supplied by producers will be equal to the amount demanded by consumers. The...
An approach-approach conflict arises when there are two equally attractive objects, and an individual must choose between them. That person would like to choose both of them, but the two are incompatible. Explanation: Conflict is an intrapersonal or interpersonal contradiction perceived by an individual as a significant psychological problem that...
Absolute advantage theory implies that a specific entity, whether it is a country or a business organization, can produce a more significant number of goods than another establishment can within the same period. Another angle that one can look at it is that a company has higher production abilities, manufacturing...
Congress is responsible for creating independent regulatory agencies. The core of those agencies lies in the fact that they have independency from the executive offices. Those entities do not have the responsibility of applying their propositions for the review to the Office of Information and Regulatory Affairs. The primary aim...
Global stratification speaks to the presence of hierarchy among groups and individuals worldwide, due to the unequal distribution of various resources and benefits. Explanation: Our global society is stratified according to socioeconomic status. An individual’s social and economic level varies according to his or her occupation, education, wealth, income, and...
Tenement houses are the buildings that have many apartments and the entrance to which is possible through auxiliary premises, usually the main entrance. Explanation: The issue of tenements has originated centuries ago in history, and since then, this concept has changed and received substantial attention. Tenements aimed to solve the...
Any research study conducted by individuals must seek the approval of the Institutional Review Board (IRB). This regulatory group offers exemption for six categories of studies. The IRB carefully reviews each research study to determine if it can be approved for exemption. Explanation: The exempt categories include Research of an...
Average Total Assets can be characterized as the average number of assets owned by a company during both the current and previous year. The formula for Average Total Assets can be calculated as follows: (aggregate assets at the end of the current year + aggregate assets at the end of...
Economic Entity Assumption is a concept that proposes that the activities of any economic entity, such as a hospital, municipality, or business, should be separate from the activities of its stakeholders. Explanation: Every economic entity should be constantly analyzed in terms of profitability and overall efficiency. In order to make...
There are many advantages of globalization, such as an increase in revenue, a wide choice of products and services for consumers, reduction of the monopoly’s scale, poverty reduction, innovative and cultural development. However, there are still some negative consequences, such as inequality, environmental degradation, and a high rate of unemployment....
Delegated powers, also called enumerated or expressed powers, can be defined as a federal government’s ability to take important measures and make crucial decisions on behalf of its country. Explanation: Delegated powers are directly connected to the way a country is organized. If the founders of a country’s government aim...
An excellent teacher should be able to address a wide range of skills in a classroom. There are five pivotal skills and attributes needed to be an outstanding teacher: being enthusiastic about for a subject; effective use of body language; being a lifelong learner in education; having knowledge of various...
Quarantine speech is a talk given by Franklin D. Roosevelt on October, 5, 1937, in Chicago on the topic of America’s neutrality policy towards the issue of violence in the period between the world wars. Explanation: World War I left the national leaders dealing with the chaos in both internal...
Independent executive agencies are the organizations that are responsible for the supervision and the administration of specific purposes. Congress establishes those organizations to assist in different areas of the authority of the federal government and supervising complex aspects, unlike the government corporations that are owned by the government. The primary...
The Corwin Amendment was the document issued by Thomas Corwin, the US governmental representative, in 1861, and its main objective was to prevent state residents from the abolition of slavery. Explanation: The ongoing debate over the position of slavery on a governmental level has been one of the most severe...
The three components of Henry Clay’s American System were directed at strengthening of domestic businesses, national commerce and national currency, and infrastructure. Explanation: After the war in 1812, the US was not in the best position because it had substantial debts and a weak economy. At this point, Henry Clay,...
Federal laws are made by Congress, the process of which includes seven coherent steps. Explanation: The federal organization of any country allows its government to delegate powers between the national level and the state one to achieve the goal of harmonized policies. Such an approach requires developed legislation and reasonable...
Revenue Act of 1913, also known as the Underwood-Simmons tariff was signed by President Woodrow Wilson in 1913 after successfully passing both houses of the Congress. Its primary purpose was to cut or, in many cases, eliminate tariff rates on goods, thus encouraging import. The Underwood Tariff Act established the...
The function of the Office of War Information of the US was to use various types of information influence during World War II to achieve propaganda goals. Explanation: At the beginning of World War II, Germany and its allies were holding a successful campaign forcing their enemies to give up...
The National Response Framework is a guide that teaches U.S. citizens and authorities how to act in case of various disasters. Explanation: The National Response Framework (NRF) is an essential tool that provides guidelines for actions during severe disasters, catastrophes, and other emergency situations. The current official document is the...
A supply schedule is usually presented in the form of a table that shows the price for the quantity supplied of a particular product. Quantity supplied is a term that refers to the number of goods that producers are willing to sell for a certain price. Explanation: Economics is the study...
Minimum Efficient Scale, or MES, is “the quantity at which a firm’s long run average total cost curve stops falling.” In other words, an efficient scale of production is part of the output scale, specifically the point at which a particular business reaches productive efficiency. Explanation: Economic competition is one...
Voluntary exchange occurs when sellers and buyers engage in trade operations or in employment relationships willingly and freely and when both expect to benefit from the transaction. This assumption serves as the basis for the market economy as it explains the free choices that consumers make basing on their interests....
A cash crop is a crop grown only for generating a profit by selling. Cash crop definition is used to differentiate it from food or subsistence crops produced for the consumption by a farmer’s family or feeding livestock. Explanation: Cash crops are generally grown on big farms that focus on...
Jesus Christ is most widely recognized as the founder of Christianity as His life and death are the foundations of faith. However, there is an opinion that Paul founded Christianity as a religion by setting its doctrines and sharing the word of Jesus among the early church. Explanation: The roots...
Banks earn money by taking it from savings and checking accounts of their customers and lending to other customers who pay higher interest rates. Other sources of banks’ profit are interchange and banking fees that help to cover the cost of major services. Explanation: Banks make most of their money...
The contribution margin income statement is used in economics for analysis of the effectiveness of all the efforts taken in order to achieve higher revenue during a certain period. It is also called as income statement and its purpose is to calculate the contribution margin of the company, which helps...
The current balance is the amount of money on one’s credit card when the bank accounts for prospective transactions. If one wants to understand precisely how much money he or she has on the credit card, it is necessary that one knows the differences between the current, the available, the...
Prosperity is the state of good fortune. It can be described as thriving, flourishing, or having a successful social position. Prosperity is usually associated with wealth but may also include other factors, such as happiness, love, and health, which can be independent of wealth. Explanation: Economic prosperity means that either...
The Ten Percent Plan is a scheme proposed by Abraham Lincoln,according to which, if ten percent of the rebellion state voters claimed their allegiance to the US nation, they could be reintegrated into the US Union. Explanation: The American Civil War, which took place from 1861 to 1865, put the...
The National War Labor Board (NWLB) was an American federal agency established during World War I under the presidency of Woodrow Wilson. After the war, the board ceased its operations and was reestablished by President Franklin Roosevelt only in 1942, during World War II. The National War Labor Board was...
The Office of Price Administration was a federal agency created in August 1941 under the Office for Emergency Management of the U.S. government. The initial purpose of the OPA was to help control the price of rent and essential goods after the United States became involved in the Second World...
The economic system represents a combination of methods, means, and ways that help to organize the production of goods and services, its distribution, and allocation within one territory. In general, economic systems regulate different factors in economics, such as capital, labor, physical resources, and entrepreneurs. Nowadays, economists reveal four types...
Nowadays, the term “market-clearing price” (or “equilibrium price”) is actively used in economics. Market clearing price is the value of the goods or services that is established when “the quantity supplied is equal to the quantity demanded.” In other words, this price exists when there are no shortages or surpluses...
The history of the United States of America is rich with many different events. One of them is the Credit Mobilier scandal that erupted in 1867 and was exposed by the New York Sun in 1872. The Credit Mobilier scandal destroyed the careers and reputations of several Gilded Age politicians...