This question asks to classify different accounts into their appropriate sections on a company's balance sheet, based on standard accounting principles. Examples of how to classify different accounts like cash, equipment, patent, accounts receivables, long-term bonds, buildings, prepaid expenses, income to be earned next year, and common stock, are given.
Explanation:The question pertains to classifying accounts typically found on a balance sheet in various sections in accordance with standard accounting principles. The sections specified in the question are as follows: Current Assets, Long-Term Investments, Property, Plant, and Equipment, Intangible Assets, Other Assets, Current Liabilities, Long-Term Liabilities, Contributed Capital, Retained Earnings, and Accumulated Other Comprehensive Income.
Let's consider that the accounts are as follows (1. Cash, 2. Equipment, 3. Patent, 4. Account Receivables, 5. Long-term bonds, 6. Buildings, 7. Prepaid expenses, 8. Income to be earned next fiscal year, 9. Common Stock) as an example.
Cash - Current AssetsEquipment - Property, Plant, and EquipmentPatent - Intangible AssetsAccounts Receivables- Current AssetsLong-term bonds - Long-Term InvestmentsBuildings - Property, Plant, and EquipmentPrepaid expenses - Current AssetsIncome to be earned next fiscal year - Not under any of the choices Common Stock - Contributed CapitalLearn more about Balance Sheet here:https://brainly.com/question/34287613
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Assume Brandon can buy either 1 DVD for $20 or 3 CDs for $25. What is the opportunity cost if he decides to buy 3 CDs? Select the correct answer below: the 3 purchased CDs the lost opportunity to buy 1 DVD. the difference of $5 between the two options the amount of time Brandon must work to purchase 3 CDs
Answer:
The opportunity cost of buying 3 CDs is the lost opportunity to buy 1 DVD
Explanation:
Opportunity cost is the cost of alternative forgone.It is cost of the item not purchased due the current buying decision.
It is also applicable to a business division selling to another division within the company.The cost of such internal sale is viewed as the variable cost of the product plus the contribution forgone from not selling to external party.This is most likely the case when the selling division does not have a spare capacity with which it can fulfill internal sale request.
The editorial board of Gamers' Page, a magazine that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games. This type of market segmentation used by the editorial board of Gamers' Page is an example of ________.A) usage-rate segmentation
B) geographic segmentation
C) psychographic segmentation
D) benefit segmentation
If a manager rates an employee higher than he or she deserves in order to look good as a manager in the eyes of his or her own superiors, this is an example of: a. criterion deficiency. b. organizational politics. c. criterion contamination. d. administrative appraisal purpose.
Answer:
b.
Explanation:
Based on the information provided within the question it can be said that this scenario best illustrates the concept known as organizational politics. This refers to self-serving behaviors that individuals within a company use in order to increase the likely-hood of obtaining positive results in an organization. Which is what would happen if a manager rates an employee higher, they would end up looking like a good manager that is doing their job correctly because the employees are performing efficiently.
The example provided in the question is a case of organizational politics, where the manager inflates an employee's performance review for their personal benefit.
Explanation:This scenario is an example of organizational politics. Organizational politics refers to behaviors that are self-serving in nature and generally not in the best interest of the organization.
This can include actions such as favoritism, withholding information, and in this case, inflating an employee's performance review to enhance the manager's own standing. Although it might benefit the manager in the short term, in the long run, this kind of behavior can lead to a lack of trust and poor morale among the staff.
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A local pizza parlor located on campus offers a student rate for its pizza lunch special. This is a form of __________. a. predatory pricing and is legal. b. predatory pricing and is illegal. c. bait-and-switch pricing and is legal. d. price discrimination and is illegal. e. price discrimination and is legal.
Answer:
E. Price discrimination and is legal
Explanation:
Price discrimination is a situation whereby an organization decides to sell its commodity at different prices to different customers. Here, the pizza parlour offers student rate for students that's different from the rate offered to other customers that are not students. It is the sales of a particular type of product to different buyers or consumers at different prices. It is legal. It only becomes otherwise (illegal) if it is done on the basis of racial discrimination, religious discrimination and so on.
Answer:
The correct answer is e. price discrimination and is legal.
Explanation:
Price discrimination, also known as price differentiation, occurs in situations where a company sells the same product at different prices, either to the same consumer or to different ones. The study of this strategy occurs naturally in cases of monopolies because they seek to sell additional units to consumers without reducing the price of units that have already been sold in a way that allows them to maximize their profits. There are examples of price discrimination in transport and storage companies. To optimize price discrimination, companies will have to control and prevent resale, and they will also have to differentiate consumers depending on their willingness to pay. Although preventing resale is often not complicated, differentiating consumers is a more complex and expensive process.
In the first half of 2011, automobile sales in the United States were lower than they were in the first half of 2010. The decrease in auto sales impacts GDP because new automobiles are counted as ________ when purchased by households and ________ when purchased by businesses
Answer:
Consumption and Investment
Explanation:
Consumption refers to household use of particular goods or services.
New and modern innovation creates new consumption, In this situation, a Decrease in 2010 model vehicle sales held by innovations and consumption also impact GDP.
If a business purchases these automobiles, it is called investment for automobile Businesses and industry.
Investment is equal to all purchases of newly produced capital goods Select one: a. minus changes in business inventories. b. plus fixed investment minus inventory investment. c. plus changes in business inventories. d. plus changes in business inventories plus purchases of new residential housing. Previous page
Explanation:
Let us understand the term deeply what an "investment" is about.
It is the amount of money spent on something which would yield a better returns"These are purchase of goods which may not be essential or not going to be used immediately but it is bought keeping future in mindThose are also called an "asset" which can be sold in future "for higher profit returns"This is action is done to "financially" be safe or protectedThere are different types of investment and should be carefully chosen based on the returns and risks associated with that.Which of the following statements is false? Group of answer choices Value is defined by what needs to be done Key value drivers can be found in the Marketing Mix Market potential is the intersection of value and competence Points of differentiation are not necessarily points of parity Value is defined by the firm
Final answer:
The false statement is that Value is defined by the firm. Value is determined by the consumers or customers, as they are the ones who perceive and attach value to a product or service.
Explanation:
The false statement among the given options is that Value is defined by the firm. In reality, value is not defined solely by the firm. Instead, value is determined by the consumers or customers, as they are the ones who perceive and attach value to a product or service. The firm can influence the value proposition through their marketing efforts, but ultimately, the customers play a crucial role in defining the value of a product or service.
The false statement is: A) Value is defined by what needs to be done.
The false statement among the given options is that "Value is defined by what needs to be done." Value is typically defined by the perception of benefits received by the customer relative to the cost. It is more accurately defined by the firm and influenced by key value drivers found in the Marketing Mix. Market potential is indeed the intersection of value and competence, and points of differentiation are not necessarily points of parity. It involves understanding customer needs and how well the firm's offerings meet those needs. Key value drivers, which influence the customer's perception of value, can be found in the Marketing Mix (product, price, place, promotion).Full question
Which of the following statements is false?
A) Value is defined by what needs to be done.
B) Key value drivers can be found in the Marketing Mix.
C) Market potential is the intersection of value and competence.
D) Points of differentiation are not necessarily points of parity.
E) Value is defined by the firm. generate an answer
Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the problems they were encountering and what activities they were required to perform. Joe was performing a ___.
Complete question:
Joe, a human resources specialist for Jersey Office Supplies Co., rides along with the furniture delivery people to observe the problems they were encountering and what activities they were required to perform. Joe was performing a:
A. personality test
B. performance appraisal
C. BARS
D. job analysis
Answer:
Joe was performing a job analysis
Explanation:
Job analyzes are a set of protocols for defining the contents for the job and the features or criteria required for the execution of the tasks. Job analytics provide employers with knowledge that helps to recognize which personnel is ideally suited to particular work.
An example of a job analysis model might list tasks or activities of the job and determine each performance level. Within this way, the role of job analysis is critical. Many companies typically take the same generic approach without details on the task description. All workers are tested in a similar set of features or characteristics presuming that they are required for all work.
All of the following may deduct education expenses except
a. Paige is a self-employed accountant who incurs expenses to take advanced tax courses.
b. Marvin is a high school teacher who incurs expenses for education courses to meet new course requirements to maintain his job.
c. Hope is an independent business consultant who incurs expenses to pursue an MBA degree.
d. Richard is a self-employed dentist who incurs expenses to attend a convention on new techniques in oral surgery.
Answer:
The correct anser is a. Paige is a self-employed accountant who incurs expenses to take advanced tax courses.
Explanation:
Public spending on education refers to disbursements at different levels of education, from preschool to tertiary, including auxiliary services and research and development related to education.
c. Hope is an independent business consultant who incurs expenses to pursue an MBA degree.
To determine who cannot deduct education expenses, we need to look at IRS guidelines regarding tax deductions for education.
According to the IRS, tax deduction eligibility for education expenses often applies to individuals whose education maintains or improves required skills for their current jobs
Let's break down each option:
Paige is a self-employed accountant taking advanced tax courses. This is generally deductible because it improves her job skills.Marvin is a high school teacher taking new required education courses to maintain his job. This is deductible because it's necessary to keep his current employment.Hope is pursuing an MBA degree as an independent business consultant. Generally, while this education might be beneficial for her business, it is often not considered directly related to maintaining or improving skills for a current job since an MBA can qualify her for a new trade or business, making these expenses non-deductible.Richard is a self-employed dentist attending a convention on new oral surgery techniques. This is deductible as it directly maintains and improves his professional skills.Therefore, the correct answer is: c. Hope is an independent business consultant who incurs expenses to pursue an MBA degree.
There are five basic steps to personal financial planning and their related tasks. Arrange these steps and examples of related tasks in the order of their presence during the financial planning process.
A. Develop a plan of action. Develop a budget matching income and projected expenses for the remainder of this academic year.
B. Evaluate your financial health. Record all expenses for a month to compare income and expenses.
C. Review progress on the plan, reevaluate the plan, and revise the plan or start over with a new one. Based on this year, develop a revised budget for next year based on projected income and expenses.
D. Define your financial goals. Pay off credit card(s) by the end of this school term.
E. Implement the plan. Reduce expenses in problem areas so amounts do not exceed budgeted projections.
Answer:
The correct order is:
D. Define your financial goals. Pay off credit card(s) by the end of this school term.
B. Evaluate your financial health. Record all expenses for a month to compare income and expenses.
A. Develop a plan of action. Develop a budget matching income and projected expenses for the remainder of this academic year.
E. Implement the plan. Reduce expenses in problem areas so amounts do not exceed budgeted projections.
C. Review progress on the plan, reevaluate the plan, and revise the plan or start over with a new one. Based on this year, develop a revised budget for next year based on projected income and expenses.
Explanation:
The first step in financial planning is to determine your financial goals: buying a house, paying off credit card debt, paying off student loans, etc.
Next, your personal financial situation must be assessed in order to determine how far you are from achieving your financial goal.
The third step consists in devising the plan: the plan should try to concile your goals with your financial situation. The idea is to find a way to realistically attain your financial goals.
The fourth step is to implement the plan, and the fifth step is to review the results of the plan periodically, in order to correct any mistakes, or to design a new plan altogether.
Final answer:
The five basic steps to personal financial planning are to define your financial goals, evaluate your financial health, develop a plan of action, implement the plan, and review the plan's progress to adjust as needed.
Explanation:
The process of personal financial planning typically encompasses the following five basic steps in order, along with their related tasks:
Define your financial goals. An example task is to aim to pay off credit cards by the end of this school term.Evaluate your financial health. A related task could be recording all expenses for a month to compare income and expenses.Develop a plan of action. A task here might involve developing a budget that matches income with projected expenses for the remainder of this academic year.Implement the plan. This can involve reducing expenses in areas where amounts are exceeding budgeted projections.Review progress on the plan, re-evaluate the plan, and revise it or start over with a new one if necessary. You might develop a revised budget for the next year based on this evaluation.It is critical to follow these steps to ensure you can cover your financial costs while working towards short-term, medium-term, and long-term goals. Creating and sticking to a budget is paramount in this process.
The governor wants to levy a $1 excise tax on a product but wants to minimize the deadweight loss. The deadweight loss will be LEAST when the demand curve is _____ and the supply curve is _____.
Answer:
D) inelastic, inelastic
Explanation:
A price ceiling set below the equilibrium price will always cause an increase in the quantity demanded and a decrease in the quantity supplied, resulting in both a shortage and a deadweight loss.
When the demand and the supply curves are inelastic, their slope is greater, which reduces the potential loss. The deadweight loss is the area in between the supply and demand curve and left of the equilibrium price.
In year 2, Reynolds changes its inventory method from FIFO to the weighted-average method. If the weighted-average method would have been used in year 1, cost of goods sold would be $10,000 higher. Reynolds has an effective tax rate of 40%. What is the after-tax effect on retained earnings for year 1 for the change in accounting method
Answer:
Retained earnings for year 1 would be lower by $6000
Explanation:
A change in inventory valuation method resulted in higher cost of goods sold for the previous year.
This means had the new method of inventory valuation i.e weighted average been followed, the gross profit would have been lower by $10,000.
Had gross profits been lower by $10,000 , it would've led to net income being lower by $10,000. After deduction of 40% tax rate on such income, the after tax income would've been $6000 lower.
This further means the balance of retained earnings would've been reduced by $6000.
Cami is the marketing manager for a regional furniture maker. She closely monitors the impact of each marketing campaign on overall sales. She routinely tries novel promotional offers to reach first-time customers. Which of the following skills does Cami exhibit?A) systems thinkingB) experimentationC) abstract reasoningD) collaborationE) troubleshooting
Answer:
B) experimentation.
Explanation:
Experimentation is the process by which a business strategy is tested on a smaller scale before it is adopted on a wider scale. A business process or product can be introduced to a particular test group and based on the results extrapolated to other areas.
In this scenario Cami the marketing manager for a regional furniture maker monitors each marketing campaign on overall sales. She also tries novel promotional offers to first time customers in a bid to test efficacy. This is use of experimentation.
Cami demonstrates the skill of experimentation by regularly testing new promotional offers to assess their impact on sales, showcasing her strategic and critical thinking abilities.
Explanation:Cami exhibits B) experimentation in her role as a marketing manager. This skill is highlighted by her routine implementation of novel promotional offers to engage first-time customers. Experimentation in this context implies a methodical approach to testing different marketing strategies and observing their impact on sales, which is a crucial component of strategic thinking and critical thinking. It requires creativity and divergent thinking to generate a variety of approaches and the application of analysis to determine the effectiveness of these strategies.
This inventory system requires a physical inventory count to be made at least once during the year. Answer 1 This inventory system computes and records cost of goods sold at the time of sale. Answer 2 This inventory system computes and records cost of goods sold only at the end of the period. Answer 3 This inventory system computes and records sales revenue at the time of sale.
Answer:
Answer 2 : This inventory system computes and records costs of goods sold at the end of the period.
Explanation:
The time at which records of costs of goods sold is done determines a company`s inventory system.
Two inventory systems exist which companies can use in their business which are Periodic and Perpetual inventory systems.
Periodic Inventory System
In this system recording of cost of goods sold is done at the end of a certain period.It could be after a week, month or year.This is the type is system that is being explained in the question.
Perpetual
The other is the other system of recording cost of goods sold. In this system cost of goods sold is computed at end of each sale ( at the time of sale)
Hence it is important to note when the count of inventory is done. If at the end of a period then its Periodic and when count is done after every sale then that is Perpetual.
The system described suggests a periodic inventory system, where a physical count is made at least once a year, and cost of goods sold is computed at the end of the period.
The inventory system is describing the periodic inventory system, which requires a physical inventory count at least once during the year and computes and records the cost of goods sold (COGS) only at the end of the accounting period. This system contrasts with the perpetual inventory system, which records COGS at the time of sale. Both systems will record sales revenue at the time of the transaction. Understanding these systems is crucial for accurate financial reporting and management, as they directly impact the valuation of inventory on the balance sheet and the computation of gross profit on the income statement.
Maintaining accurate inventory records is integral to reporting a firm's financial status. Inventory valuation methods, like FIFO and LIFO, can affect the reported value of inventory and, consequently, the financial outcomes such as net income. In practice, changes in inventory levels are considered a form of investment and are accounted for in the calculations of Gross Domestic Product (GDP), reflecting the production and consumption cycles within an economy.
Crane Company on January 1, 2018, granted stock options for 63000 shares of its $10 par value common stock to its key employees. The market price of the common stock on that date was $25 per share and the option price was $20. The Black-Scholes option pricing model determines total compensation expense to be $627000. The options are exercisable beginning January 1, 2021, provided those key employees are still in Crane’s employ at the time the options are exercised. The options expire on January 1, 2022. The amount of compensation expense Crane should record for 2017 under the fair value method is:_______.
a. $0.
b. $207000.
c. $103500.
d. $310500.
The amount of compensation expense Crane should record for 2017 under the fair value method is $207000
Solution:
From the given,
Stock options for 63000 shares
$10 par value common stock
$25 per share and the option price was $20
Total compensation expense = $627000
On calculating we get,
[tex]\Rightarrow\frac{627000}{3}= \$207,000[/tex]
We can conclude that there is $207,000 decrease. Therefore, the correct answer is option c.
Sweet Dreams sells 15,000 pillows per year for $25 per unit. Variable cost per unit is $14. Sweet Dreams wants to improve customer satisfaction by using higher quality direct materials which will increase the variable cost per unit to $19. Fixed costs per year total $90,000. If sales increase by 5,000 units per year, what price will Sweet Dreams have to charge to earn the same profit it is earning now ($75,000 per year)
Answer: The answer is $27.25
Explanation:
Let x be the price Sweet dreams will charge to earn the profit of $75,000
New sales units = 20,000
New variable cost = $19
We know, Sales - Variable cost - Fixed cost = Profit
Now applying the equation,
20,000x - (20,000*19) - 90,000 = $75000
20,000x = $75,000 + 380,000 + 90,000
therefore, x = $27.25
So, Sweet Dreams will charge $27.25 to earn the same profit it is earning now i.e. $75000 per year.
Vaughn Bately manages a group of eight electrical engineers at Defiance Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Vaughn's engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Vaughn wasn't certain that developing this technology was the best use of his limited resources. Vaughn was facing a significant decision.
If Vaughn uses the classical model of decision making, which of these assumptions would he reject?
a. The decision maker is rational and uses logic in assigning values and evaluating alternatives.
b. The desired decision will maximize attainment of organizational objectives.
c. The decision-maker strives for complete certainty, gathering complete information.
d. Problems are precisely formulated and defined.
e. All of these are accepted.
Answer:
e. All of these are accepted.
Explanation:
If Vaughn was facing a significant decision. and Vaughn uses the classical model of decision making, then all the assumptions below will not be rejected
a. The decision maker is rational and uses logic in assigning values and evaluating alternatives.
b. The desired decision will maximize attainment of organizational objectives.
c. The decision-maker strives for complete certainty, gathering complete information.
d. Problems are precisely formulated and defined.
The reason for such conclusion is that the classical model which Vaughn uses prescribes the best way to make decisions, based on four assumptions:
- a clearly defined problem,
- eliminated uncertainty,
- access to full information, and
- rational behavior of the decision-maker.
These four conditions are same as those faced be Vaughn in the given scenario.
GoCarts Systems pays $3,500 cash for next year's publication subscription which is known as a(n) _________. During the same week it delivers carts to a theme park and sends the customer a $15,000 invoice which is known as a(n) ___________.
Answer:
Deferral
Accrual
Explanation:
A deferral occurs when a company has paid out money that should be reported as an expense in a later accounting period, and/or received money that should be reported as revenue in a later accounting period while an Accrual pertains to expenses that should be reported now, but have not yet been recorded or paid, and revenues that should be reported now, but have not yet been recorded nor has the money been received.
A TIPS was issued with a face value of $5,000, a coupon rate of 3 percent, and a reference CPI of 201.42. The current CPI is 203.14. What is the current interest payment?
Answer:
$75.64
Explanation:
Data provided in the question
Face value = $5,000
Coupon rate = 3%
Reference CPI = 201.42
Current CPI = 203.14
By considering the above information, the current interest payments is
= Face value × (Current CPI ÷ Reference CPI) × coupon rate
where,
Coupon rate = 3% ÷ 2 = 1.5%
So, the interest payment is
= $5,000 × (203.14 ÷ 201.42) × 1.5%
= $75.64
Final answer:
The current interest payment for the TIPS is $151.28, which is calculated by adjusting the principal for inflation and applying the coupon rate to the adjusted principal.
Explanation:
To calculate the current interest payment of a Treasury Inflation-Protected Security (TIPS). A TIPS has an initial face value of $5,000, a coupon rate of 3 percent, and a reference Consumer Price Index (CPI) of 201.42. With the current CPI at 203.14, the interest payment must be adjusted for inflation. To find the adjusted principal, we divide the current CPI by the reference CPI and multiply the result by the face value. Then, we apply the coupon rate to the adjusted principal to find the current interest payment.
Adjusted principal: ($5,000 × (203.14 / 201.42)) = $5,042.80Coupon payment: ($5,042.80 × 0.03) = $151.28Therefore, the current interest payment for this TIPS would be $151.28.
Emma has decided that she needs to assess the risk and return of buying an extended warranty for her new laptop for school. Which of these practical questions should she ask herself to assess the risk?A. Will the warranty cover the cost for any physical damage?B. Will the laptop likely have technical issues?C. Should I buy a different model?D. Would it be better for me to buy a desktop computer?E. Is the cost of replacement less than the cost of the warranty?F. Is this the best laptop available?G. Is the laptop worth the extra expense of the warranty?
Answer:
B. Will the laptop likely have technical issues?
Explanation:
The question: will the laptop likely have technical issues? is a good question to assess the risk, and it can help Emma decide whether to buy the extended warranty or not.
This is because while she does not know for certain if the laptop will have technical issues in the future, it is a possibility that cannot be discarded. In other words, there is a risk (whether low or high is another thing) that the laptop may have technical issues in the future, and in such a situation, an extended warranty would prevent Emma from paying higher costs for a repair. Besides, a repair without warranty may easily be more expensive than the warranty itself.
A. Will the warranty cover the cost for any physical damage?
D. Is the cost of replacement less than the cost of the warranty?
E. Is the laptop worth the extra expense of the warranty?
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A construction firm needs to hire a construction superintendent, whose primary responsibilities involve organizing, supervising, and inspecting the work of several subcontractors. It administers a construction-error recognition test, where an applicant enters a room that has been specially constructed to have 10 common and expensive errors and where he/she is asked to record as many problems as he/she can detect. The firm is using a:______.a. concurrent validation.b. predictive validation.c. content validation.d. criterion-related validation.
Answer:
c.
Explanation:
Based on the information provided within the question it can be said that the construction firm in this scenario is using content validation. This term refers to a research methodology that is used in order to measure the validity of a certain test in order to make sure that it is providing the information for which it was created. Which is why they test the individual to see if they can spot the 10 errors.
A schedule listing account balances for the current and previous years, and columns for adjusting and reclassifying entries proposed by the auditors to arrive at the final mount that will appear in the financial statement, is referred to as a: _______.
A) Working trial balance.
B) Lead schedule.
C) Summarizing schedule.
D) Supporting schedule.
Answer:
a. Working trial balance.
Explanation:
Working trial balance -
It refers to as the balance sheet , which is on the stage of any alterations , is referred to as working trial balance .
It is not the final balance sheet and hence various changes can be done , like adding and subtracting many entries .
The advantage of a working trial balance is to test the complete set of entries in order to find the effect on the financial statements .
Hence , from the given information of the question ,
The correct answer is a. Working trial balance.
Aikman Company paid dividends of $2,420, $0, $1,440 and $1,010 over the first four years of the company's existence, respectively. If Retained Earnings has an ending balance of $9,700 at the end of year four, what was the average annual amount of net income (loss) over the first four years for Aikman
Answer:
$3,642.50
Explanation:
For computing the average annual amount of net income (loss), first we have to compute the net income which is shown below:
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
$9,700 = $0 + Net income - ($2,420 + $0 + $1,440 + $1,010)
$9,700 = $0 + Net income - $4,870
So, the net income is
= $9,700 + $4,870
= $14,570
Now the average annual amount of net income is
= [tex]\frac{Net\ income}{Number\ of\ years}[/tex]
= [tex]\frac{\$14,570}{4}[/tex]
= $3,642.50
Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2.75 each, he sells 250. At a price of $2.25 each, he sells 300. A. What is the elasticity of demand?
B. Is demand elastic or inelastic over this price range?
C. If demand had the same elasticity for a price decline from $2.25 to $1.75 as it does for the decline from $2.75 to $2.25, would cutting the price from $2.25 to $1.75 increase or decrease Danny's total revenue?
Answer:
A) PED = 1.1
B) demand is elastic
C) Danny's total revenue would decrease
Explanation:
we can calculate the price elasticity of demand using the formula:
PED = % change in quantity demanded / % change in price = [(300 - 250) / 250] / [(2.25 - 2.75) / 2.75] = (50 / 250) / (-0.5 / 2.75) = 0.2 / 0.18 = 1.1
since PED = 1.1, the demand is elastic
if the PED is the same when the price decreases from $2.25 to $1.75, total revenue will :
when price = $2.25, total revenue = $2.25 x 300 = $675
when price = $1.75, total revenue = $1.75 x 373 = $652.75
*a 22.22% decrease in the price will cause a 24.44% increase (= 22.22% x 1.1) in the quantity demanded = 300 units + (300 x 24.44%) = 373.3 ≈ 373 units
You can be jailed up to six months and fined up to $1,000 if you _________________. A. are convicted of being a habitual truant from school B. abandon or dump an animal on the road C. drive faster than the posted speed limit
Answer:
Option B Dumping or Abandoning an animal on a highway.
Explanation:
The fine imposed on dumping or abandoning an animal on a highway unintentionally (negligent) will be $1,000 whereas a fine of $1,000 and jail up to six months will be for the person who intentionally dumbed or abandoned an animal on a highway. The durantion of jail punishment is subjected to the judgement of judge.
Depending on the jurisdiction, penalties like jail time up to six months and fines up to $1,000 can be applicable for offenses such as habitual truancy, animal abandonment on roads, and excessive speeding.
Explanation:The penalties mentioned in your question, being jailed for up to six months and fined up to $1,000, can vary depending on jurisdiction and nature of the crime. However, in many cases, such punishments can be applied to individuals who are convicted of being habitual truants from school, abandoning or dumping an animal on the road, or driving faster than the posted speed limit.
Legal Consequences for Truancy, Animal Dumping, and SpeedingA, B, and C in your question reflect varied illegal actions that could follow serious punishments.
A habitual truant from school can face such penalties in some locations if truancy laws are enforced.Abandoning or dumping an animal on the road can also lead to fines and jail time under animal cruelty laws. Similarly, extreme cases of speeding or reckless driving can draw significant fines and potentially even jail time.Learn more about Penalties for Crimes here:https://brainly.com/question/32228967
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The philosophical leaders of the quality movement, Philip Crosby, W. Edwards Deming, and Joseph M. Juran, had the same general message about what it took to achieve outstanding quality. Which of the following was not part of that message?A. Quality is free
B. Leadership from senior management
C. Customer focus
D. Total involvement of the workforce
E. Continuous improvement
Answer:
A) Quality is free
Explanation:
The basic premise is that a high quality product shouldn't cost more to manufacture than a low quality product. So if a high quality product costs the same as a low quality product, then it means that quality doesn't cost anything. Personally I believe that Edward Deming's philosophy was the most practical and successful, just ask any Japanese how his philosophy worked.
Final answer:
The question regards the common message of quality movement leaders on achieving outstanding quality. All the options listed, such as 'Quality is free' and 'Continuous improvement,' are parts of their message. There is no option among A to E that wasn't part of the essential aspects advocated by Crosby, Deming, and Juran.
Explanation:
The philosophical leaders of the quality movement, Philip Crosby, W. Edwards Deming, and Joseph M. Juran, all shared the belief that achieving outstanding quality involved several key components. Crosby's principle, "Quality is free," suggests that investing in quality assurance systems will pay off in the long term. Deming emphasized the importance of management's role in quality improvement and advocated for enhanced cooperation between labor and management. Juran's Juran Trilogy comprises Quality Planning, Quality Control, and Quality Improvement and focuses on organizational goals being integral to achieving quality.
However, one item listed in the question was not part of their unified message: Continuous improvement is indeed one of the core principles of TQM and all three philosophers would view it as essential. Therefore, there is no option listed in the question that wasn't part of the message of these quality gurus. All choices, from A to E, were elements that Crosby, Deming, and Juran would have agreed upon being essential for achieving outstanding quality in an organization.
Abiding by a foreign country's cultural norms during an international business transaction means a company has met a minimum standard for acting ethically. a. True b. False
Answer:
B) False
Explanation:
A US company might follow all the cultural norms of a foreign country and might still be breaking the law, at least US laws. Since compliance with the law is referred to as moral minimum, you cannot be ethical if your behavior is not moral.
For example, handing out gifts to government officials may be consider normal in other countries, but the Foreign Corrupt Practices Act of 1977 (FCPA) states that you can go to jail for it.
Answer:
False.
Explanation:
Ethics is defined as generally accepted beliefs of what is right and wrong. When a person does not comply with accepted ethics the person is considered to lack moral standards and values.
In this instance abiding by a foreign country's cultural norms during an international business transaction is more of becoming a cultural fit during the transaction.
This does not involveeeting a minimum standard of right or wrong, so it is not related to ethics.
An entrepreneur can best be characterized as someone who
An entrepreneur is someone who identifies a market need, and conceives and initiates a new business venture to meet that need, enduring significant personal financial risk. They are typically visionaries who are willing to take risks and are involved in every aspect of their business.
Explanation:An entrepreneur can best be characterized as someone who conceives, launches, and operates a new business, often with considerable personal financial risk. They typically identify a market need, develop a business model, and actively participate in every facet of business operations. These individuals tend to be creative thinkers who possess a unique blend of vision, perseverance, and a willingness to take risks.
For instance, if someone recognized a demand for organic, home-delivered meals and decided to launch a company to satisfy that need, this individual would be considered an entrepreneur. They identified a gap in the market, took the initiative to start a business, and are willing to accept the potential risk associated with the venture.
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An entrepreneur can BEST be characterized as someone who takes risks in order to acquire profits. Thus, option (b) is correct.
Entrepreneur: A person who hires workers and buys resources in order to produce goods and services.Entrepreneurs are often called risk-takers because they invest their money and resources in ventures that have uncertain outcomes.They organize resources and engage in production with the hope of earning profits by identifying and meeting consumer needs.Successful entrepreneurs carefully calculate risks and weigh them against potential benefits before starting a project.An entrepreneur's willingness to take calculated risks is a key driving force in a market economy, leading to innovation and economic growth.Complete Question:
An entrepreneur can BEST be characterized as someone who:
a. tries to persuade officials to pass favorable laws.
b. takes risks in order to acquire profits.
c. signals businesses what and how much to produce.
d. seeks to engage in a voluntary exchange.
A recent national survey of U.S. adults revealed that 52% reported that they considered or made a career decision, such as looking for a new job, declining a promotion, or quitting a job, because of:___________.
Answer:
The options for this answer are the following:
A. Lack of medical coverage
B. Sexual harassment at workplace
C. Stress in the workplace
D. Lack of upward mobility
The correct answer is C. Stress in the workplace .
Explanation:
Occupational stress is a type of stress associated with the scope of work that can be punctual or chronic, although most cases respond to the second type mentioned.
Positive stress (eustress) refers to when the stress response occurs in an adaptive way, the consequences of such response do not harm the integral health of the subject and its duration is coupled with the duration of the stress stimulus, eg, the response of stress that is triggered during your first day of work is adaptive (positive stress) because it implies that you have to be alert to attend to new stimuli (tasks, bosses, colleagues, company procedure, etc.).
When does this response cease to be adaptive and therefore can it become negative stress? Well, if this stress lasts more than a month, the response intensifies over time and begins to interfere with the worker's health (insomnia, tachycardia, anxiety, depression, among others) appear, it would be a case of negative work stress and measures should be taken.
When posting from the sales journal to the accounts receivable subsidiary ledger, write the letter "S" plus the page number on which the transaction was recorded in the Posting Reference column of the subsidiary ledger account.
Answer:
The correct answer is True.
Explanation:
The general ledger is one of the most basic used in day-to-day accounting. In this, all the economic operations that are carried out in a business are registered in a chronological way for its subsequent transfer to the major. When registering an accounting entry in the daily book it is necessary to understand what we are going to register and always remember that the sum of all debits must be equal to the sum of all credits to comply with the principle of double entry. This means that every time we debit an account, we must also give a credit for the same value to the other affected account.