Answer:
Market Economy
Explanation:
A firm operating in a market economy has a strong incentive to be productively efficient and allocatively efficient. this makes firms more likely to adopt new technology. whereas centrally planned economy are less competitive and less efficient. the competition in the market economy makes is more probable for it to adopt new technology
The Prime Minister of Transylvania prefers darkened rooms, flinches in bright light, and has unusually long incisors. Despite his long and successful career, his political opponents claim he is a vampire. This is an example of the _______.
A) representation biasB) confirmation biasC) selective perception biasD) randomness bias
Answer: Confirmation bias.
Explanation:
The political opponents of the Prime Minister of Transylvania have a confirmation bias towards him, where they believe he is a vampire based on some evidences they posses. A confirmation bias is a form of interpretation of events based on ideas an individual has beforehand about those events, even when the ideas are not completely correct.
The scenario is an example of the confirmation bias. The Prime Minister's opponents are focusing on aspects that confirm their belief that he is a vampire while disregarding other possible explanations.
Explanation:This scenario is an example of the confirmation bias. Confirmation bias is a type of cognitive bias that involves focusing on information that confirms existing beliefs or ideas, while ignoring or discounting information that contradicts those beliefs or ideas. In this case, the Prime Minister's opponents are utilizing characteristics which fit their theory (preferring dark rooms, flinching in bright light, having long incisors) to assert that he is a vampire. While these are indeed traits often ascribed to vampires in folklore, many other explanations for these traits could exist, so using them as sole evidence to assert he is a vampire may be seen as a confirmation bias.
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Pure & Natural Inc. sells six different brands of laundry detergent. The products under different brands are tailored to meet the requirements of different market segments. Which of the following marketing strategies does Pure & Natural Inc. follow?
1. Relationship marketing
2. Production-oriented marketing
3. Differentiated marketing
4. Undifferentiated marketing
Answer:
3
Explanation:
Differentiated marketing
This is when a company on purpose creates products that attract at least two or more market segment s or target groups. In the case of Pure& Natural Inc selling six differnt brands of laundry detergent, this brands are tailored to meet the specification and requirement of different market segments. To buttress the point a shoe company that makes shoe for both men and women, this are two different target groups within one company
If demand shifts right and price increases, then the total revenue to the group of sellers increases for both elastic and inelastic supply curves. True or false?
Answer:
Yes that is true because revenue= price multiply by quantity so if price increases then revenue will increase. the total revenue for sellers will be greater in elastic curves because the quantity supplied is increased by a larger amount than the increase in price and they wil earn more revenue and vice versa will inelastic supply curve.
Question 1 with 1 blankA man pulling a garage bag out of a can in a kitchen. Ramón Question 2 with 1 blankA woman in a bedroom putting a sheet on a bed. Rebeca Question 3 with 1 blankA man standing in a living room vacuuming a carpet. Mi tío Juan Question 4 with 1 blankA woman in a study dusts a desk with a cloth. Isabel
1. A man pulling a garbage bag out of a can in a kitchen.
- Ramón: This suggests that Ramon is the person performing the task of taking out the garbage. He's likely in a kitchen, which is a common place for garbage cans.
2. A woman in a bedroom putting a sheet on a bed.
- Rebeca: In this scenario, Rebecca is the person responsible for making the bed. She's in a bedroom, indicating that she's likely preparing the room for use.
3. A man standing in a living room vacuuming a carpet.
- Mi tío Juan: This statement tells us that Juan, who is referred to as "mi tío" (which means "my uncle" in Spanish), is the one vacuuming the living room. This suggests that he's taking care of the cleanliness of the living space.
4. A woman in a study dusts a desk with a cloth.
- Isabel: Isabel is the individual responsible for dusting the desk. The fact that she's in a study implies that she's likely tidying up a home office or a similar workspace.
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Final answer:
Responses address correcting grammatical errors in English sentences, focusing on subject-verb agreement, tense usage, and punctuation, which are essential components of English taught at the high school level.
Explanation:
The student is asking about various sentences and how to correct or improve them. This often involves identifying and correcting grammatical issues, such as subject-verb agreement, proper tense usage, and punctuation. These skills are key to mastering the English language and are commonly taught in high school level English classes.
For example, the sentence "There is the newspapers I was supposed to deliver" should be corrected to "There are the newspapers I was supposed to deliver", as the subject 'newspapers' is plural and requires the plural verb 'are'.
Another example is "My sister and brother cleans up after themselves." This sentence should be corrected to "My sister and brother clean up after themselves" to maintain the correct subject-verb agreement, with the plural subjects 'sister and brother' matching with the plural verb 'clean'.
A basic idea of ___________ was to conduct time-motion studies to find the best way to perform each task, then teach people to use these methods. a. scientific management b. Theory Z management c. expectancy theory d. management by design
Answer:
a. scientific management
Explanation:
Scientific management -
Scientific management is also refers to as Taylorism .
According to this management practice , the work is analysed and synthesized in an appropriate manner and fashion , is referred to as scientific management.
The scientific experiments are conducted with proper procedure and management.
Hence , from the given information of the question,
The correct term is a. scientific management .
John and Mary were divorced in 2017. The divorce decree (executed 6/30/2017) provides that John pay alimony of $10K per year, to be reduced by 20% of on their child's 18th birthday. During the CY, the $10K was paid in the following way: John paid $7K directly to Mary and $3K to Spring College for Mary's tuition. What amount of these payments should be reported as income for Mary's CY income tax return?
A. $5,600
B. $8,000
C. $8,600
D. $10,000
Answer:
correct answer is B. $8,000
Explanation:
given data
John pay alimony = $10000 per year
reduced on child's 18th birthday = 20%
paid directly = $7000
paid Spring College for tuition = $3000
solution
as here he paid to divorce agreement before 31/12/2018 and that would be income to mary while their child support not
and fund amount qualify as child support only on these condition
any specific amount fix
paid solely for support minor child
it payable by the decree or agreement
so here reduced on child's 18th birthday
so qualify as child support = 20% of $10000 = $2000
so remaining $8000 is alomony and that will be income to Mary
so here correct answer is B. $8,000
Attainment of company goals in both an effective and efficient manner through planning, organizing, leading, and controlling is called:
Answer:
Management
Explanation:
Management -
It refers to the process of arranging and organising the information or objects in an organisation , company or business , is referred to as management .
Management helps for the better and efficient functioning of the organisation and business.
Hence, from the given information of the question,
The correct term is management.
Establishing mutual aid agreements to obtain resources from neighboring jurisdictions is an example of what resource management activity? A. Acquiring, storing, and inventorying resources B. Identifying and Typing Resources C. Qualifying, certifying, and credentialing personnel D. Planning for Resources
Planning for Resources
Explanation:
The process of resources management includes:
the development of recompense systems. Performance enhancement of team members. Track team and performances individually. Identifying and ensuring effective use of physical resources (control).A main activity of a project manager is to clearly identify the roles and responsibilities and other project stakeholders using tools such as the responsibility assignment matrix.
Vision Tech’s stock price is currently trading at $22 per share. The consensus among analysts is that the intrinsic value of Vision Tech’s stock is $29 per share. Is Vision Tech more or less likely to receive a hostile takeover bid?
Answer:
More likely
Explanation:
If the current market price of a stock is higher than the intrinsic value of that stock, it is less likely to receive a hostile takeover bid. On the other hand, if the current market price of a stock is lower than the intrinsic value of that stock, it is more likely to receive a hostile takeover bid. The reason is that the intrinsic value is the decision-making tool for the investors, which helps the investors to invest in that company.
Which growth strategy is being used when a firm introduces a new product or service to a market segment that is currently not served by the firm?
Answer: The answer to this question is Diversification strategy
Explanation
Diversification occurs when an organisation starts producing a product or rendering services that is entirely different from what it is known for.
An organisation might choose to diversify in other to gain more market share, increase economies of scale or reduce risk factor involved in producing one type of product or rendering one type of service.
Example.
If firm XYZ which produces cements for building houses decides to start producing electronics using the same brand name, we can conclude that the firm has diversified its means of production
The articles of partnership for Pal-Trotter Partnership provide for a salary allowance of $5,000 per month for partner Trotter, with the balance of net income to be divided equally. If Trotter made an additional investment of $10,000 during the year and withdrew $4,000 per month, and net income for the year was $80,000, by what amount did Trotter's capital increase during the year? a.$32,000 b.$10,000 c.$60,000 d.$48,000
Answer: A: $32,000
Explanation: From the question above, a salary allowance of $5000 was made per month. so for the year, its $5,000*12 = $60,000
The partnership made a net income of $80,000
therefore, $80,000-$60,000 = $20,000 net profit to be divided by the partners = $20,000 /2 = $10,000 each
Trotter made an additional $10,000 investment
he also withdrew $4000 per month for the year= $4000*12 = $48,000
his capital increase during the year:
Net profit = $10,000
Additional Investment = $10,000
Salary allowance less withdrawal = $60,000 - $48,000=$12,000
Total = $32,000.00
Final answer:
Trotter's capital increased by a. $32,000 by the end of the year.
Explanation:
The question has asked us to calculate the change in Trotter's capital given specific conditions within the Pal-Trotter Partnership. Trotter's salary allowance is $5,000 per month, which totals $60,000 per year. Next, we need to consider Trotter's additional investment and withdrawals. Trotter made an additional investment of $10,000 during the year but also withdrew $4,000 per month (which totals $48,000 per year).
The net income for the year for the partnership is $80,000. To find out the change in Trotter's capital, we have to subtract Trotter's withdrawal and add the salary allowance and half of the remaining net income after the salary allowance (since the remaining is divided equally).
First, let's calculate Trotter's share of the net income:
Net income: $80,000
Trotter's salary allowance: $60,000
Remaining net income: $20,000
The remaining net income is divided equally between the partners, so Trotter's share of the remainder would be $10,000 (half of $20,000).
Now, let's calculate the total capital increase:
Trotter's additional investment: +$10,000
Trotter's salary allowance: +$60,000
Trotter's share of remaining net income: +$10,000
Total additions: $80,000
Less Trotter's withdrawals: -$48,000
Net increase in Trotter's capital: $32,000
Therefore, the correct answer is (a) $32,000.
Martha can produce 70 quilts or 140 batches of chocolate chip cookies in a month. Jane can produce 8 quilts or 24 batches of chocolate chip cookies in a month. Distinguish between comparative advantage and absolute advantage.
Answer:
Martha can produce 70 quilts or 140 batches of chocolate chip cookies:
Opportunity cost of producing a quilt = (140 ÷ 70)
= 2 batches of chocolate chip cookies
Opportunity cost of producing a batch of chocolate chip cookie = (70 ÷ 140)
= 0.5 quilts
Jane can produce 8 quilts or 24 batches of chocolate chip cookies:
Opportunity cost of producing a quilt = (24 ÷ 8)
= 3 batches of chocolate chip cookies
Opportunity cost of producing a batch of chocolate chip cookie = (8 ÷ 24)
= 0.33 quilts
Therefore, the comparative advantage is as follows:
Martha has a comparative advantage in producing quilt because it has a lower opportunity cost of producing quilt than Jane.
Jane has a comparative advantage in producing chocolate chip cookies because it has a lower opportunity cost of producing chocolate chip cookies than Martha.
Absolute advantage:
Martha has an absolute advantage in producing both the commodities because she can produce more amount of both the goods from the same level of resources as compared to Jane.
Although you are really tired after a long run, you are considering meeting a friend at the local track to run a few more miles. You will choose to keep running if Choose one: A the marginal benefit of meeting a friend at the local track to run a few more miles outweighs the marginal cost. B. the marginal benefit of meeting a friend at the local track to run a few more miles exactly equals the marginal cost. C. meeting a friend at the local track to run a few more miles is free, so the marginal cost is zero. D. meeting a friend at the local track to run a few more miles is guaranteed to be fun, so the marginal benefit is high.
Answer:
The correct answer is (A)
Explanation:
Marginal benefit and marginal cost are two important factors to make a decision. If the marginal benefit of meeting a friend is higher than the marginal cost I will keep running to meet a friend. Because I am tired, I want the marginal benefit to exceed the marginal cost. In case I am not tired I will choose to meet the friend if MC=MR.
You will choose to keep running if the marginal benefit of meeting a friend to run outweighs the marginal cost.
Explanation:The question deals with the concept of marginal analysis, a fundamental principle in economics used to examine the additional benefits (marginal benefits) and additional costs (marginal costs) associated with a decision. According to the marginal decision rule, to maximize the net benefit, you should continue increasing the level of activity up to the point where the marginal benefit equals the marginal cost. Therefore, you would choose to keep running only if the marginal benefit of meeting a friend at the local track to run a few more miles outweighs the marginal cost (Option A). Meeting a friend is not guaranteed to be cost-free (Option C), nor does fun guarantee a higher marginal benefit (Option D), and rational decision-making requires the benefit to exceed the cost, not just equal it (Option B).
The purpose of the International Accounting Standards Board is to
1. issue enforceable standards which regulate the financial accounting and reporting of multinational corporations.
2. develop a uniform currency in which the financial transactions of companies through-out the world would be measured.
3. promote uniform accounting standards among countries of the world.
4. arbitrate accounting disputes between auditors and international companies.
Answer:
3. promote uniform accounting standards among countries of the world.
Explanation:
The purpose of the International Accounting Standards Board is to promote uniform accounting standards among countries of the world.
The primary role of the International Accounting Standards Board (IASB) is to promote a uniform set of accounting standards globally. While it contributes to the regulation of accounting by multinational corporations, it does not fully issue enforceable standards nor does it handle arbitration of disputes.
Explanation:The main purpose of the International Accounting Standards Board (IASB) is to promote uniform accounting standards among countries of the world (option 3). The IASB does this by developing and promoting the use of International Financial Reporting Standards (IFRS) on a global scale. These standards essentially bring transparency, accountability, and efficiency to financial markets around the world. They help to distribute information that is helpful for investors, thereby helping to facilitate international trade and investment.
While, in part, the IASB does regulate the financial accounting and reporting of multinational corporations, (as in option 1), it doesn't fully issue enforceable standards. The IASB proposes these standards, but it is up to individual countries to adopt and enforce them. Therefore, option 3 provides a better overall explanation for the IASB's main purpose. Options 2 and 4 are not correct as the IASB neither aims to develop a uniform currency nor directly arbitrate disputes.
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After the previous sales representative in his territory infuriated an important customer, Benjamin visited the customer once a month, never asking for business but hoping to rebuild trust through listening and expressing concern. Finally, after more than two years, the customer gave Benjamin an order. Benjamin was providing the important marketing function of____________.
Answer:
A) engaging customers and developing long-term relationships.
Explanation:
Since the customer was extremely upset by the previous sales representative, he/she probably stopped doing business with the company. The question doesn't include any details about why the customer got so mad, but it is Benjamin's job to regain the customer's trust and sales, specially if he/she was a very important customer.
Since this customer probably purchased a significant amount of goods or services from the company, that means that the he/she liked the goods or services provided. The reason why the customer stopped doing business with the company was the fight with the previous sales representative. Sometimes it takes a long time and work to regain a customer's trust, but it is something that needs to be done. The objective of the sales department is to increase existing sales, not decrease them.
"Product planners need to think about products and services on three levels. The most basic level is the ________, which addresses the question, "What is the buyer really buying
Correct/Complete Question:
Product planners consider products and services on three levels. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"
A) actual product
B) augmented product
C) core customer value
D) co-branding
E) exchange
Answer:
C, core customer value
Explanation:
Core customer value simply refers to what a customer is getting in a product as value for their money. It is one of the three important levels (alonside actual product and augumented product) on which product planners think about products and services production.
In establishing core customer value, the manufacturer has to develop features, brand, name, design, quality, quantity, etc in such a way that the product is valuable and satisfies customer's needs and/or expectations.
Cheers.
Farr, an unmarried taxpayer, had $70,000 of adjusted gross income and the following deductions for regular income tax purposes:_________Home mortgage interest on a loan to acquire a principal residence $11,000Miscellaneous itemized deductions above the threshold limitation 2,000What are Farr's total allowable itemized deductions for computing alternative minimum taxable income?a. $2,000b. $13,000c. $11,000d. $0
Answer:
C. $11,000
Explanation:
For computational purposes, both the Mortgage interest as well as the miscellaneous itemized deducted qualify as deductions based on the Schedule A which is the regular tax purposes.
However, only Mortgage interest will be allowable itemized deduction because miscellaneous itemized deductions fall under the category of adjustments and as such do not qualify for deductions under the AMT which is the Alternative Minimum Taxable Income.
Based on the explanation, only $11,000 of mortgage interest qualifies.
"Given current demographic trends, which of the following is NOT a strategy companies would use to gain a competitive advantage through promoting diversity?"
Answer: High employee turnover
Explanation: Promoting workplace diversity is a term used in creating a balanced workplace environment.
Organisations with a healthy workplace diversity promotes variety of different characteristics in their employees such as age, gender, sexual orientation, race, ethnicity, religion, political views, cultural background, etc. Knowing that all employees can never be the same, the workplace accept the above stated characteristics and all employees are treated equally.
workplace diversity has many benefits and they include:
1. Low staff turnover
2. increased creativity
3. faster problem solving
4. better company reputation
5. increased profits
Apart from the above listed points, One strategy not encouraged by a workplace diversity environment is high employee turnover.
__________ refers to the division of the economy into two areas of employment:, a primary sector or upper tier, composed of higher-paid (usually dominant group) workers in more secure jobs, and a secondary sector or lower tier, comprised of lower-paid (often subordinate group) workers in jobs with little security and hazardous working conditions.
Answer:
Split Labour Market
Explanation:
Proposed in the 1970s by Edna Bonacich, the Split labor market theory attempts to define the link between race or ethnicity and the segmentation of the labor market. The theory argues that the segmentation of the labor market is more a political and social structures than individual biases in employment.
For instance, depending on the type of job, an employer will determine what class of employees to target. In a job that requires cheap labor with poor health and insurance plans, an employer will favour lower tier workers who are less eager to complain than the upper tier workers who are more concerned about union requirements
The Split labour market theory used this explanation to divide the economy into the upper sector of higher paid workers in more secure jobs and the lower sector of lower-paid workers in less secure jobs.
________ is the activity of two or more people working together to achieve a common goal, result, or work product.
Answer:
Collaboration is the correct answer.
Explanation:
Collaboration means working mutually with others to achieve a task and business profit.Collaboration empowers people to work together to reach a defined and common company goal.Collaboration is very important in business because makes workers more effective and increases their Motivation.Collaboration helps a business in many ways such as:
It Improves self-analysis.Increased Productivity.It helps in problem-solving.Improve worker Retention.What checks are there on the accuracy of these statements? (Select the best choice below.)
A. It is up to each investor to certify the accuracy of the financial statements.
B. Financial statements in form 10-K are required to be audited by a neutral third party, who checks them and ensures that the financial statements are prepared according to GAAP and that the information contained is reliable.
C. Financial statements are always sufficiently accurate so no checks are needed.
D. The accuracy of the firm's financial statements is certified by the firm's board of directors, which is the only required check.
Answer:
The correct answer is B
Explanation:
The checks which are there on the accuracy of the statements are:
1. The corporation needed to hire or require the neutral party, which is known as the auditor in order to check the annual financial statements of the company, and also ensures that the financial statements are to prepared as per GAAP (generally accepted accounting principles). It should also offer the evidence to support the information reliability.
2. The public companies need to use a common or general set of rules and the standard format while making the reports.
3. The role of auditor is to review the financial statements and in addition Sarbanes-Oxley Act requires the CFO as well as CEO to attest personally to the accuracy of the financial statements.
The Option is B. Financial statements in form 10-K are required to be audited by a neutral third party, who checks them and ensures that the financial statements are prepared according to GAAP and that the information contained is reliable.
Financial statements must be audited by an independent third party, such as an accounting firm, to confirm their correctness. This is done to safeguard investors and other stakeholders from misleading or incorrect information.
The auditor will examine the financial statements to see if they are produced in compliance with generally accepted accounting principles (GAAP) and whether the information included is credible.
Hence, For investors and other stakeholders, financial statements are an essential source of information. Financial statements must be audited by an impartial third party to guarantee that the information included within them is correct.
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Summer or part-time employment is another way to get experience. Paid jobs allow you to earn money, which can help you learn how to budget and save for future goals or expenses.
For some students, summer is a great time to explore careers through employment. As the chart shows, young people worked in a variety of industries in July 2014, according to the Bureau of Labor Statistics (BLS).
-"Career Planning for High Schoolers,"
Elka Torpey
How does the pie chart support the text? Check all that apply. A. It shows that teens are employed in many different industries.
C. It shows the specific industries that employ teens.
E. It shows the percentage of working teens employed by each industry.
Answer:
1st one- It shows that teens are employed in many different industries.
3rd one- It shows the specific industries that employ teens.
5th one- It shows the percentage of working teens employed by each industry.
Explanation:
Just read the pie chart lol
The pie chart on employment positions for young people supports the following:
A. It shows that teens are employed in many different industries.C. It shows the specific industries that employ teens.E. It shows the percentage of working teens employed by each industry.What does the pie chart show?It shows the percentage of teens that are working in the various sectors of the U.S. economy.
As a result, we are able to see that teens are employed in different types of industries which are named specifically.
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The method of inventory costing in which direct manufacturing costs and manufacturing overhead costs, both variable and fixed, are considered as inventoriable costs is best described as:
Answer:
Absorption Costing.
Explanation:
Absorption Costing is a method of inventory costing in which direct manufacturing costs and manufacturing overhead costs, both variable and fixed, are considered as inventoriable costs.
Under what circumstances, when a searching operation is needed, would sequential search not be appropriate?
Answer:
Variable length and Fixed Length
Explanation:
When data base has a fixed length, then sequential search will not be appropriate. However, when database has a variable length then sequential search becomes appropriate
When customer service problems occur and the culture is not customer-focused, the important question for the organization is "How do we fix our system?
Answer:
We fix it by committing to the customer and setting up an environment to support it.
Answer: The organization should establish a good customer service department
Explanation:
Customer service : This is a service an organization give to their customers in order to encourage them to continue to patronize the organization products and services. These services ranges from After sales services, home delivery, pleasant atmosphere, personal attention. For an organization to survive in today's competitive business world, then such an organization have to have a good customer service. The marketing concept states that the satisfaction of a customer is the reason for a business existence. Which means that all organizations activities should be focused on customers need and wants. The satisfaction of the customers should be the central mission of the firm.
The organization can give customers a detailed information about the product or service and also attends to customers complaint promptly so as to protect the image of the organization. In the sense that, if customers continued to say bad things about the organization poor customers service to others its capable of affecting the image of the organization which will also tell on their sales level. The organization can also ensure that customers are given the right to voice out their dissatisfaction about the organization and also engage with the customers to get their feedback about the organizations service and what they could do to improve on their service to customers.
If the organization culture is not focused on the customers, then such an organization has to have a rethink and let their focused been on the customers because their survival in the competitive business world of today's depends largely on their customers and their continued patronage. The organization can fix their system by cultivating the culture of having their customers the centre point of the organization in order to ensure the continued survival and the success of the business. They can effectively do this by establishing a good customer service department in the organization who will promptly attend to customers complaint and quickly address them.
Although some had accused Smith, the firm’s network manager, of negligence when the crucial data went missing, the CEO defused a situation that was quite tense with her public statement that the debacle was not Smith’s fault.A. a situation that was quite tense with her public statement that the debacle was not Smith’s faultB. a situation that was quite tense, by publicly stating that the debacle was not Smith’s faultC. a situation, which was quite tense, by stating publicly that Smith was not responsible for the debacleD. a quite tense situation with a public statement about the debacle not being Smith’s faultE. a quite tense situation by publicly stating the debacle not to have been Smith’s fault
Answer:
B
Explanation:
Let's reach to the right answer by eliminating the wrong ones.
Option D and E use the phrase, 'a quite tense situation' hence can be ruled out for not being clear and simple in statement. Option C puts an important piece of information within commas (...situation, which was quite tense, by...) thereby assuming it as a non-essential detail, therefore it is also wrong. The problem with option A is the fact that it is not clearly describing whether the statement was given personally by the CEO or conveyed by someone else to the public. Considering above details we can see that option B is the only answer that defines the problem with clarity.
Which best describes why a company issues stocks? to increase the company’s value to ensure profits to increase dividends to raise capita
Answer:
to raise capita
Explanation:
A stock or shares represents the smallest unit of ownership in a company. Ownership of a company is acquired by buying the company's stock in the stock market, or having contributed capital during its formation. The shareholder, therefore, gives out money to a company in exchange for shares.
A company issues shares to raise capital. As investors purchase shares, the company gets money to expand its business. The investors become shareholders and are entitled to share in the profits of the business.
Answer:
D
Explanation:
Took quiz
Devon is in the market for a new car. After having done her research, she has determined that the Jeep Grand Cherokee is the best car for her, as she enjoys and regularly participates in outdoor recreational activities. This indicates that Devon was primarily influenced by what personal factor in making this choice?
Answer:
D) Lifestyle
Explanation:
Lifestyle refers to the customer's personal interests, opinions and activities, that shape their way they act and behave in a society. In this case, participating in outdoor recreational activities is part of the of Devon's lifestyle and it shapes the way she lives and what goods she purchases. Besides purchasing an SUV, she probably also purchases camping and outdoor equipment, etc.
Refer to Scenario 5-1. Using the midpoint method, what is the income elasticity of demand for pizza and what does the value indicate about the demand for pizza?
a) the income elasicity is 0.18 so pizza is a normal good.
b) the income elasicity is -1 so pizza is an inferior good.
c) the income elasicity is 1 so pizza is unitary elasitic.
d) the income elasicity is 1 so pizza is a normal good.
Answer:
D) the income elasticity is 1 so pizza is a normal good.
Explanation:
When the student's income is $10,000 per year, they eat 50 pizzas. If their income increases to $12,000, they eat 60 pizzas.
The income elasticity of demand using the midpoint method is calculated by using the following formula:
income elasticity = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}
= {10 / [(50 + 60) / 2]} / {2,000 / [(10,000 + 12,000) / 2]} = (10 / 55) / (2,000 / 11,000) = 0.182 / 0.182 = 1
Omega Co. has annual sales of $250,000, costs of goods sold of $168,000, and assets of $322,000. Accounts receivable are $86,200. What is the receivables turnover?
Answer:
2.90 times
Explanation:
The formula and the computation of the account receivable turnover is shown below:
Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable
= $250,00 ÷ $86,200
= 2.90 times
The net credit sales would be equal to annual sales and the average account receivable equal to receivables turnover
All other information which is given is not relevant. Hence, ignored it