From experienced academic experts. In any field of study
Government corporations represent special institutions that are established in order to create products for society. Government corporations are under the control of the state but usually operate like any other private business company. Explanation: The primary function that is carried out by a government-owned corporation is the performance of the...
The law of increasing costs is an economic concept that demonstrates the relationships between the factors and costs of production. In other words, this principle describes how opportunity costs increase as resources are applied. For a better understanding of this idea, it is necessary to know the meaning of the...
A job order costing system is used when a company needs to identify the manufacturing costs associated with certain products. Explanation: The job order costing system is used when a company produces several items are different from each other and each has its own cost. To understand the advantages of...
Variable expenses show what amount of money was spent on a person’s needs and change week-over-week, month-over-month. Fixed expenses stay the same almost all the time and are usually paid on the same date. As these expenses differ from each other, it is essential to know how while planning one’s...
The residents of the American colonies were divided by the Revolutionary War into two groups: the patriots and the loyalists, or Tories, as they were also called. The patriots wanted their own country to obtain independence from the British Empire. The loyalists did not want to break away from Britain...
Democracy and the Republic are two governance models that are accepted by most countries of the world. However, not only these two models are different from each other, but the government of either is also formed otherwise. Explanation: Foremost, it is necessary to give a definition to both forms of...
The adoption of the Declaration of Independence stimulated the legislative process in all states. The declaration preamble announced the destruction of the political dependence of the colonies on the king and the British government, proclaiming them free and independent states. Explanation: In July 1776, the preamble of the United States...
The Articles of Confederation were the first U.S. constitution that was submitted to the states for immediate consideration on November 17, 1777. Unfortunately, there were many more weaknesses than strengths of the Articles of Confederation, and it was replaced within a decade. The main flaw was that the central government...
The United States called the Washington Naval Conference in 1921 to discuss security issues in the Pacific region. The United States, Great Britain, Japan, France, China, Belgium, Italy, Portugal, and the Netherlands made up the Washington Naval Conference countries. They created some essential treaties that answered the following question: How...
The First Triumvirate was an alliance of three political figures in Ancient Rome: Pompey, Crassus, and Julius Caesar. Even though these men had different opinions concerning the development of their nation, they decided to join forces to overcome the existing difficulties. Those efforts, however, did not create significant positive consequences...
The Treaty of Verdun is a historical event that marked the beginning of the Empire’s dissolution; it was signed due to the necessity of dividing European parts into separate independent states. Explanation: In 843 August 11, Europe took the first significant step towards those state orders that determined its entire...
The impact of the Commercial Revolution on the world economy has contributed to the expansion of trade borders, the creation of a single currency for accounting, and the development of international entrepreneurship. Explanation: The definition of a commercial revolution can be attributed to the period of economic expansion of Europe....
The Great Railroad Strike of 1877 occurred when railroad companies cut wages, leading thousands of their American workers to show their dissatisfaction with working conditions through massive protests and demonstrations. Explanation: Even though the strike included almost 100,000 workers, the industry companies and the government managed to suppress the protests,...
The Emergency Banking Act of 1933 was passed to restore and strengthen public confidence in the US banking system. This legislation was a response to the fact that American citizens were massively withdrawing their money from banking accounts. Explanation: Consequently, the Emergency Banking Relief Act provided the president with the...
The statement of owner’s equity is the financial statement used to represent the changes in the capital of an individual owner of a business, indicating the net value of the owner’s share. Explanation: Equity is the difference between the value of a company’s assets and its financial obligations, thus, reflecting...
Bad debt expense is the amount of money that a debtor owes to a creditor and is not able to pay due to a lack of finances. Companies write off bad debt, since it is not collectible. Explanation: If a company provides goods and services on credit, the amount of...
The cost of goods manufactured is the monetary amount that indicates the total expenses incurred by an enterprise during the production of goods that can be sold in the market. Explanation: In order to make a profit, a business needs to sell goods in the market for the amount of...
The definition of proportional tax is that all taxpayers make a contribution to the state budget according to the same percentage rate, irrespective of their income. For instance, people might pay 20% of their income, regardless of whether they have earned $20,000 or $5,000 a year. Explanation: A tax is...
There are two types of official currency that are used in Cuba, which are Cuban peso and convertible peso. Depending on a particular kind of shop, one of them might be more accepted than the other. Explanation: Cuban peso is referred to as “national currency”, and it is used to...
Marginal cost is defined as the cost of production of an additional unit of a good or a service. The figure is calculated at a given level of output and indicates the amount of inputs required to increase outputs by a specific constant. Explanation: Total costs of production can be...
In order to minimize the risks involved in social-behavioral studies, it is important to immediately remove all of the participants’ direct identifiers from the data. Additional safeguards are described in the section ‘Risks to Research Participants’ of the Human Subjects Protection Program, including research methods for vulnerable populations. Explanation: Additional...
A demand schedule is a table showing the quantity demanded of a good or service at different price levels. It can be graphed as a two-column table or as a continuous demand curve on a chart where the Y-axis represents price, and the X-axis represents quantity. Explanation: According to the...
The Embargo Act of 1807 was a piece of legislation that forbade American merchants to trade with any foreign nation, and was intended to be a coercive measure against France and Britain. Explanation: The Embargo Act of 1807 was passed in the United States during the Napoleonic wars in Europe....
Historical context provides an understanding of the conditions in which certain events took place. It is critical to pay attention to the surrounding context in order to correctly interpret historical information. Explanation: Historical context provides insights into the circumstances that influenced people’s actions and decision. To a significant extent, these...
Predetermined overhead rate is calculated by dividing the estimated total overhead costs by expected activity level, which can be one of the following: total expected machine hours, total expected direct labor hours, or total expected direct labor cost for the period. Explanation: Predetermined overhead rates are established at the beginning...
A trial balance is a bookkeeping worksheet in which the balance of all ledgers is compiled into debit and credit account column totals that are equal. A trial balance is prepared after entering the regular transactions of the period, and the second trial balance follows after posting the adjusting entries,...
In economics, marginal cost is the increase or decrease of the cost of producing one more unit of a good or serving one more customer. It is also referred to as an incremental cost. Marginal costs help businesses define achievement in economies of scale. Explanation: To demonstrate how marginal cost...
The Credit Mobilier scandal was a symbol of corruption in the post-Civil War era that highlighted changes in business and political ethics in the United States of America. This series of shocking events took place from 1872 to 1873 and ended with a massive political scandal that tarnished the reputation...
Reserved power, according to Merriam-Webster, is a political power reserved by a constitution to the exclusive jurisdiction of a specified political authority. The Tenth Amendment indicates that the powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states...
What is annual net income? Annual net income is the remaining amount of earnings after the deduction of expenses from total revenue. Both “annual net income” and “net income” terms can be used in such sense, but annual net income specifically refers to a complete fiscal or financial year. Explanation:...
According to the doctrine of incorporation, the personal status of a company is determined by the state law where the company was created. The actual transfer of the company to another state does not lead to a change in personal status, and the international law based on the legal capacity...
Autonomous consumption is the level of customer’s expenditures that have to be made if there is zero income. Even when people have no disposable income, they still need to buy food, pay for electricity, or rent a flat. Under such circumstances, they start borrowing or spending money from their savings...
Implicit cost defines the cost that has already been spent but has not been reported or shown as a distinct expense that a company had. Referred to as implied, notional, or imputed costs, implicit cost show that when a business allocates resources, it eliminates the capacity of earning income off...
A categorical is a grant sent to the national budget to use for specific purposes, which are established by the body that transfers funds from a higher level budget. Part of the federal budget allocation is distributed among the regions to finance their participation in the implementation of national programs....
Customer service is a process of meeting the demands and expectations of customers and keeping them as satisfied as possible. Employees working in customer service are expected to answer questions and resolve arising issues positively, with the satisfaction of clients being the key priority. Support departments ensure that customers become...
The Battle of Timbers took place on August 20, 1974. It was the last significant conflict in the Northwest Territory Indian War in which the United States fought against Native Americans. The US troops were led by General Anthony Wayne, who managed to obtain victory in the brief opposition, which...
The marginal product of labor (MPL) is the indicator of a substantial increase in a firm’s or economy’s output. In other words, the term explains the shift in production that stems from increasing the number of labor units, such as hiring new workers. When the demand for goods is high,...
Homeschooling presupposes receiving education at home. K12 is not homeschooling. It’s also not free. It is funded by taxpayer money since it is a public school program through which you get enrolled in a school in your state. This program follows all the requirements that exist for the regular schools...
Acknowledging that there is a problem is a great first step to solving it. But the position you’ve decided to take is the part of the problem itself. If you realize how important it is for you to get educated, it’s unwise to blame your parents in your laziness and...
Good news is that the society is evolving and people are getting more tolerant (especially when kids in school are getting older). That’s not to say that bullies are getting extinct completely, however it’s not as bad as you’re afraid it to be. The last thing you want to do...
Computers and phones do make our lives easier and help us to be more productive. With computers, you can perform a myriad of tasks and look up any information you need. Phones have been constantly evolving and nowadays they can provide practically the same functionality but in a portable form-factor....
You need to make sure that it’s not only you who are unsatisfied with your teacher’s performance. In every class, there will always be one or two students who are unhappy with how things go, and teachers would just ignore them, because it’s impossible to leave everyone satisfied. It’s a...
There’s a number of ways you can produce a well-written essay of required length regardless of what your source is. First things first, stick to the basic essay structure: introduction, background information, main thesis, arguments, and conclusion. This step alone will help you make your writing more convincing and concise....
The role of education cannot be overestimated. Education is what gives people the possibility to become better and grow as personalities. It is believed that one cannot open his or her individuality without being educated. Two reasons predetermine the importance of education. First, people can develop only with the help...
The main intention of a research paper’s conclusion is to help your readers understand why your research matters. It’s not supposed to be only a summary or restatement of what you talked about in the paper. Instead, you should use the conclusion to highlight the key points of your work....
Suicide among teens is a serious and growing issue, which has become the second major cause of death for children, teenagers, and young adults aged 15-24 years old. The majority of adolescents attempting suicide experience mental health disorders, mainly depression. A lot of attempts are impulsive and caused by strong...
Here’s an outline of sections you can include into your paper. You can use these as a basis for creating the structure of your own. 1. Definition. 2. Significance of the topic. 3. Research question or thesis. 4. Responsibility in a family as a social institution. 5. Responsibility in the...
Try to shock your audience like Tim Burton does with his audience. Since he is known for his unique vision and unmatchable creative approach, it is a good idea for you to echo his creativeness. You may choose some title that reminds of his strong features. That is the kind...