Answer:
go to malllllllllllllllllllll
11. A manufacturing company purchased equipment on June 30, 2017, at a cost of $800,000.
The residual value of the equipment was estimated to be $50,000 at the end of a five-year
life. The equipment was sold on March 31, 2021, for $170,000. Prepare the journal entry
to record the sale
a. If the company uses the straight-line depreciation method
b. If the company uses doble declining balance method
c. If the company uses sum of the years digit method
The journal entries to record the sale of the equipment on March 31, 2021, by the manufacturing company, are as follows:
a. If the company uses the straight-line depreciation method
Journal Entries:Debit Sale of Equipment $800,000
Credit Equipment $800,000
Debit Accumulated Depreciation $562,500
Credit Sale of Equipment $562,500
Debit Cash $170,000
Credit Sale of Equipment $170,000
Debit Loss $67,500
Credit Sale of Equipment $67,500
b. If the company uses the double declining balance method
Journal Entries:Debit Sale of Equipment $800,000
Credit Equipment $800,000
Debit Accumulated Depreciation $679,040
Credit Sale of Equipment $679,040
Debit Cash $170,000
Credit Sale of Equipment $170,000
Debit Sale of Equipment $49,040
Credit Gain from Sale of Equipment $49,040
c. If the company uses the sum of the years' digit method
Journal Entries:Debit Sale of Equipment $800,000
Credit Equipment $800,000
Debit Accumulated Depreciation $600,000
Credit Sale of Equipment $600,000
Debit Cash $170,000
Credit Sale of Equipment $170,000
Debit Loss from Sale of Equipment $30,000
Credit Sale of Equipment $30,000
The importance of journal entries?Journal entries recognize business transactions and identify the accounts affected.
They also signal whether an account will be debited or credited.
a. If the company uses the straight-line depreciation method
Cost of Equipment = $800,000
Residual value = $50,000
Depreciable amount = $750,000
Depreciation period = 5 years
Annual depreciation = $150,000 ($750,000/5)
Accumulated Depreciation till March 31, 2021, = $562,500 ($150,000 x 3.75)
Transaction Analysis:Sale of Equipment $800,000 Equipment $800,000
Accumulated Depreciation $562,500 Sale of Equipment $562,500
Cash $170,000 Sale of Equipment $170,000
Loss $67,500 Sale of Equipment $67,500
b. If the company uses the double declining balance method
Accumulated Depreciation till March 31, 2021:
First-year =$320,000 ($800,000 x 40%)
Second year = $192,000 ($800,000 - $320,000 x 40%)
The third year = $115,200 ($800,000 - $512,000 x 40%)
Fourth year = $51,840 ($800,000 - $627,200 x 40% x 9/12)
Total accumulated depreciation = $679,040
Transaction Analysis:Sale of Equipment $800,000 Equipment $800,000
Accumulated Depreciation $679,040 Sale of Equipment $679,040
Cash $170,000 Sale of Equipment $170,000
Sale of Equipment $49,040 Gain from Sale of Equipment $49,040
c. If the company uses the sum of the years' digit method
Accumulated Depreciation:1st Year = $250,000 ($750,000 x 5/15)
2nd Year = $200,000 ($750,000 x 4/15)
3rd Year = $150,000 ($750,000 x 3/15)
4th Year = $75,000 ($750,000 x 2/15 x 9/12)
Total accumulated depreciation = $600,000
Transaction Analysis:Sale of Equipment $800,000 Equipment $800,000
Accumulated Depreciation $600,000 Sale of Equipment $600,000
Cash $170,000 Sale of Equipment $170,000
Loss $30,000 Sale of Equipment $30,000
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Amy currently volunteers at her local hospital. She would like to one day
become a doctor. What is the best type of student organization for Amy to
join?
A. One that has a focus on community service
B. One that has a focus on technology careers
c. One that has a focus on health care careers
• D. One that has a focus on building marketing skills
Option C, which refers to One with a focus on careers in healthcare, is entirely accurate.
What are the benefits of health care?efforts made, especially by trained and licenced professionals, to maintain or restore one's physical, mental, or emotional well-being. used with a hyphen when being attributed. healthcare professionals.
When provided effectively, health care is generally regarded as a key factor in promoting the overall physical, mental, and social well-being of people around the world and can play a significant role in a nation's economy, development, and industrialization.
The phrase "healthcare process" was defined as "the order of steps we frequently take when giving treatment to patients who belong to various defined groups.
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Strong _______ skills influence hiring decisions and job performance, while at the same time promoting good relations in your personal life.
Which situation is an example of indirect taxation?
OA. Stores charge sales tax on each purchase and give that money to
the government.
OB. Homeowners must pay a percentage of their home's worth to the
government.
OC. Businesses must send a portion of their income each year to the
government.
OD. Every citizen sends the government money to support the armed
forces.
SUBMIT
Option A is the correct answer. Indirect taxation is the situation where taxes are imposed on products or services and not directly on individuals. Therefore, the example of indirect taxation in the situation given is when stores charge sales tax on each purchase and give that money to the government.
Stores charge sales tax on each purchase and give that money to the government is an example of indirect taxation.Indirect taxation is a method of taxation in which individuals are not taxed directly, but instead, the tax is paid through an intermediary.
The tax is generally imposed on products or services. This tax, which is passed on to the customer as part of the price of the good or service, is then collected by the seller and forwarded to the government.
Sales tax, excise tax, and customs duty are all examples of indirect taxes.
Therefore, Option A is the correct answer.
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Increased access to workplace tools and information means work hours may be more _____________.
Answer:
flexible
Explanation:
thats my answer
Increased access to workplace tools and information means work hours may be more flexible.
What is workplace?Workplace refer to the place where an individual works and spend his most of the time in order to earn the money. The workplace should be clean and fewer hazards by nature in order to ensure safe working environment to the people of the organization.
The labor or the worker working in the factory is the example of the workplace. An employee works in the office. In recent times, people used to work from home instead of coming to the office.
In the workplace, there are strict rules and regulations to be followed by each and every individual to ensure the smooth running of the business and to maintain the decorum of the organization. The rules are some of each and every employee.
There is no such flexible hours of working as it depends on from organization to organization. However, the Work hours may be more flexible due to increased access to tools and information at the workplace.
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Discussion Questions
15-1. This chapter discusses four important issues
that will shape compensation professionals?
work for years to come. Which one of these
issues stands to create the greatest uncertainty
for compensation professionals? Explain
your answer.
The question is about the Compensation of professionals and its issues.
The most important issue out of the four discussed is the workforce diversity, this creates a great uncertainty in compensating the professionals.
Diversity in professionals create an environment where a group of people are working more and hard while the other group of people does not work much hours but still the compensation is on a similar level and sometimes when this compensation is varied with the group it is highly regarded as the inequality.
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Whcih of the following post deployment duties are performed by the field sanitation team?
a. Immediately restocking field sanitation materials upon the return to the home station
b. Preparing an after action review for the chain of command
c. Ensuring the unit has the required personal hygiene supplies and equipment
d. Provide support to the unit leaders to complete medical surveillance reports
Answer:
a. Immediately restocking field sanitation materials upon the return to the home station
c. Ensuring the unit has the required personal hygiene supplies and equipment
d. Provide support to the unit leaders to complete medical surveillance reports
Explanation:
field sanitation team are team that provides protective measures that affect the team as a whole. This team protect anything related to the health of the unit.
It should be noted that the following post deployment duties are performed by the field sanitation team
1)Immediately restocking field sanitation materials upon the return to the home station
2). Ensuring the unit has the required personal hygiene supplies and equipment
3) Provide support to the unit leaders to complete medical surveillance reports.
Define the meaning of a business
Answer:
a persons regulation occupation profession or trade
Define ATS and describe its use.. Why would large companies
use an ATS ?
Answer:
An applicant tracking system (ATS) is a human resources software that acts as a database for job applicants.
On the maturity date of a $9,600, 3-month, 12% note, the borrower sends a check that includes the principal and all the interest due on the note. What is the amount of the borrower's check?
The amount of the borrower's check is $7,956 that includes the principal and all the interest due on the note sent on the maturity date.
What is maturity?The phrase "maturity" or "maturity date" in the context of finance refers to the day on which the last payment is expected to be made on a loan or other financial instrument, such as a bond or term deposit, and at which point the principal is expected to be repaid. "Perpetual stocks" are some financial products that never reach a predetermined maturity date and last forever. Bonds with distinct classes and staggered redemption dates are referred to as having a serial maturity when they are all issued at the same time. In the financial press, the word "maturity" is occasionally used as a colloquial term for the asset itself, as in Today's market, the yields on ten-year maturities climbed, which resulted in lower bond prices and a higher redemption yield.
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1. Concave Systems presently has earning interest and taxes of
$6 million. Its interest expenses are $1,000,000 a year, and it
pays $600,000 in annual dividends to its shareholders. Concave
has 300, 000 common shares outstanding, and its tax rate is 40
percent. Its annual capital expenditures are $900,000. Concave's
present priceto-earning ratio is 8.
a. Calculate the company's earnings per share and interpret.
b. Calculate the company's dividend payout ratio and interpret. 目
c. Calculate the company's dividend yield and interpret.
The company's earnings per share is 20, dividend payout ratio is 0.1 and dividend yield is 1.25.
What is Dividend payout?The dividend payout is the ratio between dividend per equity share and earning per equity share.
Earning per share = Earning net interest and tax/ Number of shares outstanding
= $6,000,000/3,00,000
= 20
Dividend per share = Total Dividend/ No of shares
= $600,000/300,000
= $2
Dividend payout ratio = Dividend per share/Earning Per Share
= $2/20
= 0.1
Market value per share = P/E Ratio × Earning per share
= 8 × 20
= $160
Dividend Yield = Dividend per share/ Market Value Per Share
= $2/$160×100 = 1.25
Therefore the earning per share indicates the earnings of the company is attributable to the equity shareholders. The company's dividend payout ratio and dividend yield ratio indicate the percentage of earnings paid to shareholders via dividends.
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how do you figure out state income tax
Answer:
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[m[9jyhn8otgfrv6y7ed56cvfgyikulb'kml,;
'.,l
'miojhnlbgiued5y4ct6fryvgubhinjkomjnihguyftdr56ft7gy8uhijonmp,mij98hg76fd5456ctvuybijnokmlloi9u87g6fd5ftt
Explanation:
Explain why two employees at a company, earning the same gross pay, might have different net pays.
Answer:
see below
Explanation:
Two employees with the same gross pay will have different net pay because of differences in deductions. Net pay is the amount that reflects in the employee's bank account after all deductions. Involuntary deductions are mandatory and comprise statutory deductions such as social security, medicare, taxes, or others prescribed by the state or the courts. To a large extent, employees with similar gross pay will have the same statutory deductions.
Voluntary deductions are employee-initiated. They include mortgages, retirement plans, medical, life assurance, dental, and general insurance. These deductions are not uniform. Each employee will have a different amount deducted depending on their preferences. Voluntary deductions contribute significantly to two employees with the same gross pay to have different net pay.
Deregulation in the banking industry in 2007 was mainly intended to lead to _____. (Select all that apply.)
an efficient marketplace
competitive pricing
riskier investments
volatile interest rates
Answer:
riskier investment
Explanation:
Mark brainliest
A contract with an illegal object is not voidable
True
False
Answer:false
Explanation:
False
A voidable contract is legal. Its a void contract that is illegal- thus this statement is false
Hope this helped you- have a good day bro cya)
When must you wash your hands
Answer:
Before, during, and after preparing food. Before and after eating food. Before and after caring for someone at home who is sick with vomiting or diarrhea. Before and after treating a cut or wound.
wash your hands before and after always and preferably with antibacterial soap
Consider a firm redesigning its logistics network. What are the advantages of having a small number of centrally located warehouses? What are the advantages of having a larger number of warehouses closer to the end customers?
Small centrally located warehouses offer cost efficiency and simplified inventory management, while larger warehouses closer to customers provide faster delivery, better customer service, and cost savings in shipping.
Having a small number of centrally located warehouses offers several advantages in a firm's logistics network:
Cost Efficiency: Centralized warehouses can lead to cost savings in terms of inventory management, transportation, and operational overheads. With fewer warehouses, the firm can benefit from economies of scale in procurement, storage, and distribution.
Simplified Inventory Management: Managing inventory becomes more streamlined when there are fewer warehouses. It allows for better control and visibility over stock levels, reducing the risk of stockouts or overstocking.
Faster Transit Times: With centrally located warehouses, products can be shipped more quickly to various regions since they are closer to major transportation hubs. This reduces lead times and improves overall customer satisfaction.
Improved Coordination: Centralized warehouses facilitate better coordination and synchronization of supply chain activities. It becomes easier to manage inbound and outbound logistics, optimize transportation routes, and consolidate shipments.
On the other hand, having a larger number of warehouses closer to end customers provides the following advantages:
Faster Delivery: Proximity to end customers enables faster order fulfillment and delivery. Products can reach customers more quickly, reducing transit times and improving responsiveness.
Enhanced Customer Service: Local warehouses allow for better customization and personalization of service. They can cater to specific regional preferences, offer faster response times to customer queries, and handle returns or exchanges more efficiently.
Lower Shipping Costs: By locating warehouses closer to customers, transportation costs can be reduced as products travel shorter distances. This can lead to cost savings in shipping expenses.
Flexibility and Redundancy: Having multiple warehouses distributed geographically provides redundancy and flexibility in the supply chain. It mitigates the risk of disruptions, such as natural disasters or transportation issues, as the firm can rely on alternative warehouse locations.
In summary, a small number of centrally located warehouses offer cost efficiency and streamlined inventory management, while a larger number of warehouses closer to end customers provide faster delivery, improved customer service, lower shipping costs, and increased flexibility.
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GDP is not a perfect measure of social welfare and the society'$ economic well- being because O it does not say anything about the distribution of income O it does not include all economic activities in the economy: O GDP accounting rules do not adjust for production that causes negative externalities. O All of the above. In which basic market would stocks be traded? the labor market the capital market the money market the goods and services market
This is because "it does not include all economic activities in the economy".
What exactly is the term GDP?
Gross Domestic Product (GDP) is a measure of the total output of goods and services produced by a country in a given period of time. It is considered to be the most important indicator of a country’s overall economic health and is used to compare the relative strength of different economies.
GDP does not take into account income inequality, or the distribution of wealth and resources within an economy. Therefore, while it is a useful measure of economic activity, it is not a comprehensive measure of social welfare or the economic well-being of a society.
Hence, option B is correct.
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If Suzie writes a check for a new car, she is using money as a
Answer:capital
Explanation:
In business if you use your money from it, it's your capital equity your using
What is the main reason that people purchase insurance policies?
A. they want to reduce the cost of their student or personal loans.
B. They want to avoid paying for major unexpected expenses.
C. They want to avoid increasing their monthly premiums
D. They want to invest money in insurance to grow it over time
Option B is correct. The main reason that people purchase insurance policies is because they want to avoid paying for major unexpected expenses.
What is an insurance policies?An insurance policy can be defined a contract between the insurer and the policyholder which determines the claims which the insurer is legally required to pay. The policy is enforced in an exchange for an initial payment known as the premium in which the insurer promises to pay for loss caused by perils covered under the policy language.
Most of the insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Because these insurance policies are standard forms, they often feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Some examples of the popular insurance policies includes a Life Insurance, Health Insurance, Disability Insurance, Homeowner's Insurance, Automobile Insurance, Liability Insurance etc,
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In a table, what is a field?
In a table, a field contains data about one aspect of the table subject.
Due to the fact that they contain all the data or information, tables are crucial database objects. You should always begin your design of a database by constructing all of its tables before developing any other items since other database objects rely so heavily on tables. Records (rows) and fields (columns) make up a table.
Data can be entered in fields in a variety of formats, including text, numbers, dates, and hyperlinks. Each field in a table provides information specific to that field's subject, such as the first name or email address. You can modify the properties of tables and fields to alter their appearance or behaviour. A field property pertains to a specific field in a table and describes a feature or attribute of the field's behaviour.
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Answer:
Explanation:
In a table, a field contains data about one aspect of the table subject.
Question 5 (1 point)
A common definition of economics is that it is the study of:
O a) maximizing net personal disposable income.
b) the factors underlying financial markets.
c) the allocation of scarce resources to competing wants.
d) maximizing personal financial wealth.
If the same person orders supplies, verifies receipt of the supplies, and pays the supplier, which of the following is not a possible negative result? a.The quantity and quality of supplies received may not be verified, thus causing the company to pay for supplies not received or for poor-quality supplies. b.Orders may be placed on the basis of friendship rather than on price and quality. c.Supplies will be purchased according to company policies. d.Supplies may be stolen by the employee.
Considering the situation described above, the statement that is not a possible negative result is "supplies will be purchased according to company policies."
This is because when supplies are purchased according to the company policies, it is expected or believed that this is a positive situation. After all, the supply process goes according to plan.
However, option A is wrong because the possibility of paying for supplies not received or for poor-quality supplies is a loss for the company or bad business.
Option B is wrong because orders made based on friendship rather than on price and quality may lead to a loss on the company's side as the deal may be inflated or supply be of inferior quality.
Option D is wrong because when the employee steals supplies, that leads to a loss on the company's side.
Hence, in this case, the correct answer is option C. "Supplies will be purchased according to company policies."
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On January 1, 2016, Flathound Properties received $22,800 from a tenant as rent for all of 2016. What journal entry would Flathound Properties make at the end of January 2016 to show that one month of service had been provided?
In order to show that one month of service has been provided, Flathound Properties should both Debit Deferred Revenue and Credit Revenue for $1,900.
What is the journal entry for a month of service?The $22,800 is for the whole year so we need to find the monthly rent:
= 22,800 / 12
= $1,900
This amount will be credited to Revenue to show that Flathound Properties has earned it for rental services provided. It will also be debited to Deferred Revenue.
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The areas of academic study are called
Answer:
Academic Focus Areas are related majors that are grouped together because they share a foundation of common course requirements and recommendations. At most institutions, every program of study will fit into one of a limited number (five to seven, generally) of Academic Focus Areas.
An academic discipline or field of study is known as a branch of knowledge.
Explanation:
Answer: Branches of knowledge
Happy to help; have a great day! :)
Meaning of net profit
Answer:
down below
Explanation:
net profit is the money left over after paying all the expenses of an endeavor.
have a nice day! (^o^)
Rosario Department Store uses a perpetual inventory system. Data for product
E2-D2 includes the following purchases.
Number of Units 50
Unit Price $10 $30
May 7
July 28
On June 1, Rosario sold 26 units, and on August 27, 40 more units. Prepare the perpetual
inventory schedule for the above transactions using (a) FIFO, (b) LIFO, and (c) moving-average
The perpetual inventory schedule using FIFO shows a balance of 64 units and a cost of goods sold of $660, using LIFO shows a balance of 64 units and a cost of goods sold of $1,980, and using the moving-average method shows a balance of 64 units and a cost of goods sold of $1,320.
To prepare the perpetual inventory schedule using FIFO, LIFO, and moving-average, we need to track the purchases, sales, and remaining inventory for the product E2-D2. Let's calculate the inventory schedule for each method:
(a) FIFO (First-In, First-Out):
Using the FIFO method, we assume that the first units purchased are the first ones sold. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $10/unit * 26 = $260
July 28 - 24 units -
August 27 40 units 64 units $10/unit * 40 = $400
The balance at the end of August 27 is 64 units, and the cost of goods sold is $260 + $400 = $660.
(b) LIFO (Last-In, First-Out):
Using the LIFO method, we assume that the last units purchased are the first ones sold. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $30/unit * 26 = $780
July 28 - 24 units -
August 27 40 units 64 units $30/unit * 40 = $1,200
The balance at the end of August 27 is 64 units, and the cost of goods sold is $780 + $1,200 = $1,980.
(c) Moving-Average:
Using the moving-average method, we calculate the average cost per unit based on all purchases. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $20/unit * 26 = $520
July 28 - 24 units -
August 27 40 units 64 units $20/unit * 40 = $800
The balance at the end of August 27 is 64 units, and the cost of goods sold is $520 + $800 = $1,320.
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Help
A company had average total assets of $3,060,000, total cash flows of $2,160,000, cash flows from operations of $415,000, and cash flows from
financing of $1,170,000. The cash flow on total assets ratio equals:
Answer:3060000:3745000
Explanation:2160000+415000+1170000 put to a ratio of the total assets 3060000
Total assets= 3060000
2160000+415000+1170000 = 3745000
3060000:3745000
Cash flow is a statistic for how much money a company earned or spent overall during a given period of time. On the statement of cash flows, a common financial statement, cash flow is often divided into cash flow from operating activities, investing activities, and financing activities.
Why cash flow is important?Positive cash flow will put your mind and heart at ease. You don't need to be concerned about how you'll fare week after week or month after month. The same goes for those of you who own businesses.
Understanding cash flow effectively is crucial because it enables you to pinpoint your sources of income and your spending habits.
With this knowledge, you may act appropriately to maintain a healthy cash flow and ultimately meet your financial objectives.
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Company X paid Company Y $1.35 million for a new plant. During the same accounting period, Company X experienced the following changes in its balance sheet: Cash decreased by $350,000, Accounts Receivable increased by $321,300, Inventory increased by $275,800, Property, Plant, and Equipment increased by $752,900, and Bonds Payable increased by $1 million. The net cash flow provided by financing activities is:________.
a) An inflow of $1.35 million.
b) An inflow of $752,900.
c) An outflow of $350,000.
d) An inflow of $1 million.
Answer:
d) An inflow of $1 million.
Explanation:
Cash flow provided by financing activities is:
Particular Amount
Bonds payable increased 1,000,000
Net Cash flow $1,000,000
Bonds payable increased $1,000,000 is the only financing activity among all the given activities which increased flow of cash to the company by $1 million.
Advise business on the role of intermediaries in the distribution process.
Intermediaries, in business and marketing, are those that act as a middleman between the producer and the consumer. The role of intermediaries in the distribution process of goods and services is to ensure that products and services are moved from the producer to the consumers.
There are several types of intermediaries in the distribution process, including wholesalers, retailers, agents, and brokers. They play a crucial role in the distribution process in the following ways:
Assist in Sorting and Selection: Intermediaries help producers to sort and select their products, which saves time and money for producers.Assist in Breaking Bulk: Intermediaries buy goods in large quantities from producers and then break them into smaller quantities. This makes it possible for producers to sell their products in smaller quantities, making it possible for consumers to afford them.Helps in Transporting Goods: Intermediaries help in transporting products from producers to consumers by offering transportation services at lower costs. They also assist in the warehousing of goods, which helps in the storage and protection of goods.Assist in Financing: Intermediaries play an important role in financing. They buy goods from producers, hold them, and then sell them to consumers. This helps to reduce the risk of loss for producers by providing cash up front for goods sold. They also offer credit facilities to consumers, which makes it possible for them to buy goods without having to pay cash upfront.Help in Providing Information: Intermediaries help to provide information about products and services to consumers, making it easier for them to make informed decisions. They also help to provide feedback to producers about the quality of their products and services.For more such questions on marketing
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