Describe in Your Own Words the Difference Between a Stock

question 107

Essay

Describe in your own words the difference between a stock and a flow.For each of the following activities,determine whether it is a stock concept or a flow concept:
(a)Sue earns $5.75 per hour working at the Burger Barn.
(b)On his way home from work,Sam finds a ten-dollar bill.
(c)Upon graduation,John accepts a job with a salary of $2000.
(d)Jennifer saves 10% of her monthly income.
(e)Alex saves $1,000 a year.
(f)Japan has a capital to labor ratio of 10 where China has a capital to labor ratio of 2.

Identify and categorize expenses on the income statement for a manufacturing company.

Compute cost of raw materials used and total manufacturing costs from given data.

Grasp the concept and significance of work-in-process (WIP) inventory in the manufacturing process.

Understand the flow of materials inventory and how it is reflected in financial statements.

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Definitions:

Somatic Nervous

Part of the peripheral nervous system that controls voluntary movements of the body through control of skeletal muscles.

Parasympathetic Nervous

Part of the autonomic nervous system that conserves energy as it slows the heart rate, increases intestinal and gland activity, and relaxes sphincter muscles in the gastrointestinal tract.

Endocrine

Pertaining to the system of glands that release hormones directly into the bloodstream to regulate processes such as growth, metabolism, and mood.

Somatic

Pertaining to or affecting the body, especially as distinguished from the mind or the environment.