Answer:A. Becky is liable for the damages to Mr. Edwards' garden, because she exercised control over her agent, Maggie.
Explanation:This is a situation where a person is working under the instructions of another, Becky will take the full responsibility for the damage done by the Dog to Mr. Edwards garden.
This can be seen also in conditions where a principal gives instructions or job to an Agent, the actions of the agent will directly impact the Principal as the Agent is working according to the directives of the principal.
As per the text, Becky talks to friend Maggi to walk her dog and while walking the dog gets away. The Maggi runs into Mr. Edward garden to dig dome expensive plants.
The statement that would best characterize her would be Berkey is liable for the damages to Mr. Edward garden as she gave the control to her agent Maggi.Hence the option A is correct.
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Ashlyn is a single person with no dependents. She normally receives over $1,800 every year for an income tax refund. She is having difficulty paying her monthly bills every month. What tax advice would you give her?
Answer:
Ashlyn can increase her exemptions through her w-4 form at her place of work
Explanation:
The Form W-4 represents a tax related form which gives an employer the amount to be withheld from an employee's paycheck. The W-4 form is labelled the Employee's Withholding Certificate. It is the responsibility of the employee to fill his/her w-4 form as such, the employer will use the filled form to compute payroll taxes to be submitted to the IRS on behalf of the employee.
Ashlyn is therefore, has the option of increasing her exemptions lowering her tax bills for the year helping her pay her monthly bills.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance, as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to its website where customers can post pictures of themselves using the store's gear. These efforts illustrate how the firm is engaged in
A. societal marketing.
B. a sales orientation.
C. relationship marketing.
D. logistics.
E. personal selling.
Answer: (C) Relationship marketing
Explanation:
The relationship marketing is one of the type of marketing form that helps in providing the various types of campaigns in order to understand the actual response of the consumer about the brands and the products.
The main objective of the relationship marketing is that it helps in creating the various types of new characteristics of the products based on the requirement of the customers and also strengthening the relations with the consumers.
According to the given question, the given company efforts is basically illustrating that the company is basically engaging in the relationship marketing.
Therefore, Option (C) is correct answer.
A company that identifies customer relationships with the organization, captures relevant customer data from interactions, stores and integrates that customer data, and identifies its profitable customers is implementing a customer relationship management cycle.
Select one:
True
False
Answer:
True
Explanation:
Customer relationship management is an approach that a company uses to analyze customer interactions and manage its relationships with customers. The strategy uses information technology to capture and store customer data to improve customer experiences, improve sales, and achieve customer retention. Organizations implement customer relationship management to remain competitive and profitable.
By implementing customer relation management (CRM), a business capture essential customer data. The data is useful to front desk employees as they serve customers face to face, marketing, and the sales teams. An analysis of the data provides past customer behavior patterns that can be used to predict future trends.
ValiantCorp is a C corporation that earned$ 3.90 per share before it paid any taxes. ValiantCorp retained $1 of after tax earnings forreinvestment, and distributed what remained in dividend payments. If the corporate tax rate was 35%
and dividend earnings were taxed at 12.5%, what was the value of the dividend earnings received after tax by a holder of 100,000 shares of ValiantCorp?
Answer:
the investor wil receive a net of 87,500 dollar after the taxation on diviends.
Explanation:
we are given with the after-tax distribution for the company at $1 dollar per share
100,000 shares x $1 each = $100,000 cash dividends
then we apply the dividends earnings taxation to solve for how much is the after tax cash received by the holder:
$100,000 x (1 - 0.125) = $87,500
Answer:
$134,312.50
Explanation:
first of all we have to calculate the corporate taxes that ValiantCorp owes:
$3.90 x 35% x 100,000 shares = $136,500
net income = $390,000 - $136,500 = $253,500
net income per stock = $2.53¹/²
since the corporation retains $1 per stock for reinvestment, it will distribute $1.53¹/² per stock x 100,000 stocks = $153,500
the stockholders will receive $153,500 x (1 - 12.5%) = $134,312.50
Mars Inc., a San Diego–based advertising agency, offers various services, such as sales promotion, marketing research, package design, direct marketing, and publicity as well as planning, creation, and advertising production. In this scenario, Mars is an example of a(n):
Answer:
Full service agency
Explanation:
A full service advertizing agency offers a lot of effective options to its principal to promote its product and acts in the best interest of the principal.
Such marketing agencies manages marketing and advertising operations of the companies and earn a mutually agreed fees. There are a lot of services that the company can offer to businesses to promotes its products and some these are adressed in the question as well. Usually the services offered also includes marketing through the internet which costs less than advertising on the radio, etc.
The Texas economy:
The widespread economic downturn of the past decade was marked by job loss and decreased consumer spending nationwide. Additionally, many parts of the economy are undergoing massive changes as new business types emerge and mature. The quest for the "next big thing" in tech brings many to a major event in Texas each year.
Historically, the state of Texas has gone through periods of boom and bust primarily related to fluctuations in the price of___________ . The attempts made to diversify the state's economy have helped maintain area real estate values and financial fortunes in a time of international economic tumult.
Answer:
Oil
Explanation:
Crude oil is the main economic product in Texas and because of the fast cash that can be made from oil the economy is finding it hard to diversify into other sources of economic wealth. Fluctuations in oil prices generally control the economy.
Recently tech companies have become another booming source of business in Texas.
Whether the trade balance is positive (surplus) or negative (deficit) is important because it provides a measure of the financing needs of a particular country. Hence, the trade balance is more important than the current account balance. True or false?
Answer:False
Explanation:The trade balance is not more important than current account balance. They are different concepts.
The balance of trade is a tool use to measure the relative strength of a country's economy by economist.
The balance of trade can measured by the examination of the difference between the value of a country's imports and the country'# exports for a given period. The balance of trade is happens to be the largest fraction in component of a country's balance of payments.
A telecommunications company is impacted by government regulations of the wireless spectrum, cell tower locations, and Internet accessibility. The company decides to hire a lobbying firm to represent its interests with the U.S. government, specifically the FCC, FTC, and Congress. This is an example of a company managing which forces in the macroenvironment?
Answer:
Political and legal forces
Explanation:
The external environment of an organization wherein it operates is referred to as it's macro environment. Macro environment can be explained by the acronym PESTLE, which can be explained as Political factors, Economic factors, Socio cultural factors, Technological factors, Legal factors and Ecological factors.
In the given case, the macro factor affecting the company is it's political and legal environment. Political environment refers to the political dynamics and legal environment includes legal framework such as laws and rules enacted.
Here, the company is impacted by government regulations (Political factor) and hires a lobbying firm (Legal factor) to represent it's interests with the U.S government.
A new manager is hired for an office; they immediately begin to build a rapport with colleagues and subordinates, tactfully navigate difficult situations, and are friendly and outgoing with all employees. This example demonstrates which trait
Answer:
Sociability
Explanation:
By being sociable at work the new manager has developed an approachable relationship between his/her colleagues and subordinates in-other to reduce work stress and create environment with which workers would willingly put extra effort to complete difficult tasks.
Current issues in OSCM do not include: Multiple Choice 1. Coordinating relationships between organizations 2. Making senior management aware that OSCM can be a competitive weapon 3. Managing customer touch points 4. Increasing global supply chain employment
Answer:
4. Increasing global supply chain employment
Explanation:
The design, implementation and development processes for developing and supplying key goods and services of the business are Operations and Supply Chain Management (OSCM).
OSCM's current problems are :
1. Coordination of relations between supporting and independent organisations.
2. Optimize regional networks for suppliers, manufacturers and distributors.
3. Customer contact points management.
4.. Increasing recognition of OSCM as a significant strategic instrument for upper management.
5 Sustainability.
The current issues in Operations and Supply Chain Management (OSCM) do not include increasing global supply chain employment. Therefore, option 4 is correct.
Operations and Supply Chain Management (OSCM) encompasses the planning, coordination, and execution of various activities involved in delivering products and services to customers.
Current issues in OSCM include optimizing supply chain resilience and agility to cope with disruptions and uncertainties, implementing sustainable practices to minimize environmental impact, managing global supply chain risks, leveraging technology for digital transformation, enhancing supply chain visibility and transparency, and addressing ethical concerns related to social responsibility and labor practices.
Additionally, the rise of e-commerce and omnichannel retailing, increasing customer expectations for fast and personalized delivery, and the need to effectively manage inventory and demand fluctuations are also significant challenges in today's OSCM landscape.
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A test is scheduled for Monday morning, but you went to a party on Saturday night. If you hadn't attended the party, you could have studied for the test or gone to a movie. Which of the following sentences is true?
a. The opportunity cost of going to the movie is studying for the test.
b. The opportunity cost of going to the party is the movie.
c. The opportunity cost of going to the party is both the movie and the study time.
d. Because you could go to the party only that night but could go to a movie any time, the opportunity cost of the party is the study time.
e. From the above information it's not possible to determine the opportunity cost of attending the party.
Final answer:
The opportunity cost of attending the party is the most desirable alternative foregone, which is study time if that was the next best option valued by the decision-maker over going to a movie.
Explanation:
The question involves understanding the concept of opportunity cost in economics. Opportunity cost refers to the most desirable alternative that is foregone when a choice is made. In the scenario presented, since you have chosen to attend the party, your opportunity cost is the next best alternative you would have chosen if you did not go to the party. If studying for the test was your next best alternative, then that represents the opportunity cost. The fact that you could go to a movie any time does not exclude studying from being an opportunity cost, as opportunity cost depends on what you, the decision-maker, value more at the time of the choice.
Considering that, the correct answer to the question "A test is scheduled for Monday morning, but you went to a party on Saturday night. If you hadn't attended the party, you could have studied for the test or gone to a movie. Which of the following sentences is true?" is:
d. Because you could go to the party only that night but could go to a movie any time, the opportunity cost of the party is the study time.
You are a professor of economics at a university. You've been offered the position of serving as department head, which comes with an annual salary that is $7,500 higher than your current salary. However, the position will require you to work 200 additional hours per year. Suppose the next best use of your time is spending it with your family, which has value of $10 per hour.
The change in net benefit is $___
Answer:
$5,500
Explanation:
Given that,
Increase in salary from switching a job = $7,500 but have to invest additional 200 hours per year
and the opportunity cost of spending this time with the family:
= $10 per hour × 200 hours
= $2,000
Therefore, the net benefit is as follows:
= Amount of increase in salary - opportunity cost
= $7,500 - $2,000
= $5,500
Hence, the change in net benefit is $5,500.
Which of the following is a marketing metric used to analyze website traffic and tracks the number of visitors who enter a site, and then leaves it? A. Bounce rate B. Sampling C. Predictive technology D. Cookies E. Longitudinal design
Answer:
A. Bounce rate is the correct answer.
Explanation:
Bounce rate is a kind of network analytics that measures the percentage of the people visiting and leaving the website.The bounce rate is one of the major metrics which is used to know how properly the website is working.The bounce rate is determined by tracking the total number of single-page visits and then dividing it by the entire visits.A great way to keep followers up to date on your business is to utilize __________ online. A. comments and critiques B. orientations C. status updates and announcements D. summaries E. narratives
Answer:
c. Status Update and Announcements
Explanation:
By keeping customers up-to-date with the recent development and also making announcements in your business the customer will be carried along properly in other to create a continuous and long lasting customer relationship.
For example: Social media or mailing notifications - updates are being passed across through selected means to customers before logging in into the platforms which has lead to the increase and continuous use of both platforms effectively.
Average accumulated expenditures for year five on a construction project amounted to $70,000. The total cash invested in the project by the end of year five, was $160,000. During year six, the firm spent another $240,000 (total) on the project, uniformly throughout the year. Compute average accumulated expenditures for year six.
Answer:
120,000
Explanation:
As the expenditures occur uniformly throughout the period then, the weighted average expenditures will be equal to half the expenditures as the weights could be arrange to demostrate:
being a the amount spend per time diffrencial (n) 240,000/n
we have the formula of n terms:
[tex]a(x/n) + a(x-1))/n + a(x-2/n) + ... + a(3/n) + a(2))/n + a(1/n) +a (0/n)\\$We arrengle as follows:\\a(x/n) +a (0/n) + a(x-1))/n + a(1/n) + a(x-2/n) + a(2))/n\\each pair of term adds to:\\a(x/n)\\which is the simple average[/tex]
As we have half the terms then this is multiply by n/2
[tex]a(x/n) \times n/2 = a(x/2)[/tex]
Paul is able to look at things from different perspectives. He prefers to watch rather than do, and tends to gather information and use his imagination to solve problems. What would Paul’s learning style be according to the Kolb Learning Style Inventory?
a. Assimilator
b. Diverger
c. Accommodator
d. Converger
Paul would be classified as a 'Diverger' according to the Kolb Learning Style Inventory, given his tendency to view situations from different viewpoints and use his imagination for problem-solving
Explanation:According to the Kolb Learning Style Inventory, Paul would be classified as a Diverger. Divergers are people who excel at viewing concrete situations from many different viewpoints and rely upon brainstorming and imagination. This attribute is clear in Paul's tendency to gather information, observe situations, and use his imagination to find solutions, as mentioned in the question. Divergers are generally interested in people and emotional concepts, often found to be imaginative and strong in the arts.
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Recently, a bank was trying to decide what fee to charge for "expedited payments"long dash payments that the bank would transmit extra speedily to enable customers to avoid late fees on cable TV bills, electric bills, and the like. To try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for services that exceeded the maximum fees that they said they were willing to pay. This illustrates that__________.
Answer:
A disparity between their feedback and what they actually did. In this case it is better to set the fees based on what logical people would do.
Obviously the service is valued highly, and people are willing to pay higher fees.
The information provided in the survey is not a true reflect of what customers are willing to pay.
Price testing will be most effective, where a price is set and based on acceptance or rejection it is adjusted.
Explanation:
The bank's findings highlight the difference between what people say they will do (stated preferences) and what they actually do when making economic decisions (revealed preferences).
In the context of the bank's survey, the revealed preferences are the actual fees that customers are currently paying for expedited payment services, which may be higher than the fees they stated they were willing to pay in the survey.
This discrepancy can occur for several reasons:
1. Lack of Awareness: Customers may not be fully aware of the fees they are paying, or they may not pay close attention to them until they are specifically asked about their willingness to pay in a survey.
2. Urgency of Service: When faced with the immediate need to avoid late fees on essential services like cable TV or electric bills, customers might be willing to pay more than they would under less urgent circumstances.
3. Convenience: The convenience of expedited payments might be valued more highly in practice than in theory, leading customers to pay more for the service than they initially believed they would be willing to pay.
4. Lack of Alternatives: Customers might feel they have no other option but to pay the expedited fee if they want to avoid late fees, even if the fee is higher than they would prefer.
5. Misrepresentation in Survey: Respondents might understate their willingness to pay in a survey setting, either because they want to present themselves as frugal or because they hope to influence the bank to set a lower fee.
6. Market Conditions: The actual fees might be driven by market conditions, such as a lack of competition or high demand for expedited services, which can lead to higher prices that customers accept out of necessity.
In summary, the bank's findings highlight the difference between what people say they will do (stated preferences) and what they actually do when making economic decisions (revealed preferences).
This concept is a fundamental aspect of behavioural economics, which recognizes that people's choices can be influenced by context, emotions, and other factors that might not be fully captured in a survey.
The original cost of an item of inventory is above its replacement cost. The item’s replacement cost is below its net realizable value but is higher than its net realizable value minus a normal profit. Under the lower of cost or market method, the inventory item should be valued at:________.
A. Net realizable value
B. Original cost
C. Net realizable value less normal profit margin
D. Replacement cost
Examples of comparative advantage show how trade between two countries can make each better off. Compared to their pre-trade positions, trade makes both countries better off because in each country A) total employment is greater.B) total consumption of goods is greater.C) wages are higher. D) total welfare is greater.
Answer:
The correct answer is option B.
Explanation:
Comparative advantage refers to the situation when a nation or individual is able to produce a good or service at a comparatively lower opportunity cost. The nation is said to specialize in the good or service it can produce at a lower opportunity cost.
Trade through specialization helps both the nation involved in the trade to consume more. Each nation produces more of the good it specializes in and exchanges it for the good it does not specializes in.
In this way, both of them are able to consume beyond their production possibility curves.
A "moment of truth" is not: a. an opportunity to influence a customer's perception of the service quality. b. critical in achieving a reputation for superior quality. c. when the customer is forming an opinion about the efficiency of the service.d. an interaction between a customer and a service provider.
Answer:
C. when the customer is forming an opinion about the efficiency of the service
Explanation:
A "moment of truth" in marketing occurs when there's an interaction between customer and service provider usually leaving an impression (positive or negative) on the customers.
It's the moment when a customer interacts with a brand (service provider) to form an impression or change a pre existing impression about that particular brand (service provider).
It is very important for the service provider to leave a lasting positive impression because it's an avenue for them to achieve product superiority.
Answer: c).when the customer is forming an opinion about the efficiency of the service
Explanation: A Moment of Truth (MOT) in marketing is when an interaction occurs between a customer and the service provider that can leave a lasting positive or negative impression on a customer.
This is an interaction aimed at having a positive effect on the quality of a brand or service. It usually involves an opportunity to impress the customer.
Dion, an accountant for Entertainment Sports, Inc., attempts to apply a duty-based approach to ethical reasoning in conflicts that occur on the job. This approach is based on the idea that a person must____________
Answer:
Avoid unethical behavior regardless of the consequences.
Explanation:
Unethical behavior has genuine ramifications for the two people and associations. You can lose your employment and notoriety, associations can lose their believability, general spirit and profitability can decrease, or the conduct can bring about critical fines and additionally monetary misfortune.
Among the most exceedingly awful impacts of exploitative conduct on business is that an organization can't manufacture or keep up any long haul associations with clients.
A nonsolicitation clause prohibits employees from: a. Using or disclosing any of the employer's trade secrets b. Competing with the former employer for some period of time c. Engaging in any business activities unrelated to the employee's job d. Recruiting former coworkers to join the new enterprise
Answer:
D. Recruiting former coworkers to join the new enterprise
Explanation:
A Non solicitation agreement is an agreement that restricts or prohibits a former worker or employee of an organisation from soliciting their former co workers or customers of their ex- employer for their own benefit or the benefit of the organisation's competitors .
it restrict the use of the customer of their ex - employer for their own personal business or the business of the new enterprise in which they find themselves.
Answer:
d. Recruiting former coworkers to join the new enterprise.
Explanation:
A nonsolicitataion clause is an agreement between and employer and an ex-employee that prohibits the employee from soliciting the employer's clients, or contacts for personal gain after leaving the company. Employee should not also recruit former colleagues to move to another employment.
What refers to analysis of environmental impacts of products from the design stage through end-of-life?
Answer:
Life cycle assessment
Explanation:
Life cycle assessment is a technique that is used to analyse the environmental impacts of products from the design stage through end life. This assessment technique helps to examine the environmental impacts of products throughout their lives. It consists of 5 stages of material extraction, manufacturing, packaging and transportation, use and end of life. This analysis is carefully designed to effectively estimate the environmental impacts.
Burglar Bob breaks into Vince Victim's house. Bob steals a flat-screen television and laptop and does a significant amount of damage to the property before he leaves. Fortunately, Vince has a state-of-the-art security system. It captures excellent images of Bob, who is soon caught by police.
Assume that two legal actions follow, one civil and one criminal. Who will be responsible for bringing the civil case? What will be the outcome if the jury believes that Bob burgled Vince's house? Who will…
Who will bring the civil case.
Vince
Who will bring the criminal case.
The government
In the criminal case, the district attorney represents who?
the government
Who will be a defendant in the criminal case and who will be a defendant in the civil case.
Bob and Bob
If the jury in the civil case believes that Bob burgled Vince's house, then what?
Bob may be required to pay Vince money
if the jury in the criminal case believes that Bob burgled Vince's house, then what?
Bob may go to prison and/or pay a fine to the government
If Bob is found guilty of a crime, it means he probably violated what?
a statute
Answer:
Who will bring the civil case.
Vince Victim´s lawyer, Vince will probably need a lawyer to sue BobWho will bring the criminal case.
The District AttorneyIn the criminal case, the district attorney represents who?
the people (society as a whole including the government), district attorneys act on behalf of the peopleWho will be a defendant in the criminal case and who will be a defendant in the civil case.
Burglar Bob in both the criminal and civil casesIf the jury in the civil case believes that Bob burgled Vince's house, then what?
Burglar Bob will have to pay a monetary compensation.if the jury in the criminal case believes that Bob burgled Vince's house, then what?
Burglar Bob will have to spend some time in jail.If Bob is found guilty of a crime, it means he probably violated what?
a criminal lawLouise Bragan has a sideline business of carving candlestick holders. She began by hand carving them with simple tools. On average, it costs $150 in materials, and miscellaneous costs ran $50 to produce 1,300 candlestick holders. She estimates that her labor cost was $200. What was her multifactor productivity to produce candlestick holders
Answer:
3.25 holder/$
Explanation:
Given:
Material cost = $150
Miscellaneous costs = $50
Labor cost = $200
Total production = 1300 candlestick
Multi-factor productivity = Output / (labor cost+ material cost+capital+Miscellaneous costs)Multi-factor productivity = 1300 / ($200+$150+$50)
Multi-factor productivity = 1300 / ($400)
Multi-factor Productivity = 3.25 holder/$
Final answer:
Multifactor productivity is calculated by dividing the total output by the sum of all input costs. In this case, the MFP for Louise Bragan's candlestick holders is 3.25 candlestick holders per dollar.
Explanation:
The student is asking about calculating the multifactor productivity (MFP) for Louise Bragan's candlestick holder business. To find the MFP, we need to divide the total output by the sum of all input costs. Based on the information provided, Louise has an output of 1,300 candlestick holders, and the combined input costs of materials and miscellaneous expenses amounts to $150 + $50, respectively. Additionally, her labor costs amount to $200.
To calculate the multifactor productivity, the formula is:
MFP = Total Output / (Materials + Labor + Miscellaneous Costs)Therefore, the MFP for producing the candlestick holders would be:
MFP = 1,300 candlestick holders / ($150 + $50 + $200)
MFP = 1,300 / $400
MFP = 3.25 candlestick holders per dollar
Splish Brothers Inc. purchased equipment for $18000 on December 1. It is estimated that annual depreciation on the computer will be $3600. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:
Answer:
The entries must be for recording the purchase of the asset:
Dr Fixed Asset $18,000
Cr Cash or Bank Account $18,000
The entry shows the decrease and one asset and increase in the other asset. If the asset is increased then it must be debited (FIXED ASSET) and if it is decreased then it must be credited (CASH).
The entry required to require depreciation would be:
Dr Depreciation Expense $3600
Cr Accumulated Depreciation $3600
The depreciation is an expense and increase in expense is always debited whereas the accumulated depreciation account is contra asset account and is credit in nature and its increase must be credited.
Suppose the price elasticity of demand for oranges is 1.8. If a fall frost destroys one-third of the nation's orange crop, how will that affect total revenue from oranges, all other things unchanged?
a) total expenditures will rise.
b) total expenditures will fall.
c) total expenditures will remain unchanged.
Answer:
b) total expenditures will fall.
Explanation:
If the price elasticity of demand is 1.8, it means demand is elastic. When demand is elastic, a small change in price leads to a greater change in quantity demanded.
If a fall frost destroys some of the nation's crops, the quantity supplied would fall as a result. This would lead to a shortage and price of oranges would rise as a a result. The rise in price of oranges would lead to a reduction in demand because demand is elastic. This would lead to a reduction in expenditure by consumers.
I hope my answer helps you
Latasha: Most people recognize that the budget deficit has been rising considerably over the last century. We need to find the best course of action to remedy this situation. Jake: I believe that a cut in income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits. Latasha: I actually feel that raising the top income tax rate would reduce the budget deficit more effectively.The disagreement between these economists is most likely due to differences in...
a. scientific judgements
b. perception vs reality
c. values
Answer:
A) scientific judgements
Explanation:
As economists, Latasha and Jake have different scientific (or technical) points of view and they suggest different solutions for the same problem. They both agree about what the problem is, but as social scientists (economists) they believe that different roads will lead us to a better solution.
In the expenditure cycle, good control dictates that expenditures should be paid by check. This may not be feasible when minor purchases are made. To facilitate quick payment for minor purchases, a(n) ________ should be set up and maintained using ________.A) special bank account; disbursement vouchersB) imprest fund; vouchersC) cash box; small denomination billsD) petty cash fund; procurement cards
Answer:B) imprest fund; vouchers
Explanation:Imprest Fund is a small amount of money kept aside in a box,a container or a locker,it is usually managed by a custodian or the owner of the money to handle or manage incidents or unexpected situations. Most organisations give Imprest funds to certain Departments to manage unplanned and incidental occurrence.
Vouchers are a piece of note or printed paper that are used in exchange for cash, especially as it relates to imprest expenditures. Vouchers will help to create a form of control and monitoring on the use of imprest funds.
Answer:
To facilitate quick payment for minor purchases, a PETTY CASH FUND should be set up and maintained using RECEIPTS.
Explanation:
There is a mistake on the question, the actual cash is assigned to the petty cash fund, but the system that controls the petty cash fund is called the imprest system. The term imprest system is a very old term that refers to recording and replenishing the petty cash fund.
Initially a certain amount of money is set up as a petty cash fund and recorded under the petty cash account. Then as small expenses are paid using that money, they have to be recorded in receipts (or vouchers if you are British). Then as the petty fund is used up, the receipts are added and recorded, and then the fund is replenished.
Ashley opened an all-you-can-eat buffet restaurant. The cost per-person was based upon what Ashley believed an average restaurant patron would consume. The restaurant began to lose money. Ashley concluded that her patrons had "above average" appetites, and were attracted to her restaurant because they could eat as much as they wanted while being charged an average price. A similar phenomenon exists in insurance markets. This problem is called
A. moral hazard.
B. adverse selection.
C. morale hazard.
D. fundamental risk.
Answer:
B. adverse selection.
Explanation:
Because, the restaurant price is a flat fee the person which find this attractive are those who eat above average.
Liek a life insurance per life will be taken with people who's life expectancy is above average, the same occrus here.
People who eat less than average will have less incentive to go
while above average move incentive thus, the "real" average including the adverse selection qualms should be more higher than the average across all consumers.