past due balances
Answer: Option C.
Explanation:
Your credit report contains individual data, credit account history, credit requests and open records. This data is accounted for by your banks and loan bosses to the credit authorities.
These four classifications are: distinguishing data, credit accounts, credit requests and open records.
The objective of a best-cost strategy is to: a. Deliver superior value to value-conscious buyers at a comparatively lower price than rivals. b. Out-compete rivals using low-cost provider strategies. c. Translate its best-cost status into achieving the highest profit margins of any firm in the industry.
Answer:
a. Deliver superior value to value-conscious buyers at a comparatively lower price than rivals.
Explanation:
The objective of a best-cost strategy is to: Deliver superior value to value-conscious buyers at a comparatively lower price than rivals.
A best-cost strategy is built on product offering that guarantee customers better value for money by focusing both on low cost and upscale difference.
The ultimate goal of the best-cost strategy is costs and prices reduction to a point lower than other providers of similar products with comparable quality and features.
Duffy is a passenger in a car that Caleb is driving when an accident occurs. Both Caleb and Duffy are emotionally rattled, but neither is physically hurt. Caleb is not liable to Dufy on a negligence theory because
a. both parties were emotionally rattled.
b. Caleb apparently did not intend to cause an accident.
c. Duffy must have been comparatively negligent.
d. Duffy was not injured
Both parties were emotionally rattled
Explanation:
Since both Dufy and Calen were emotionally rattled, Caleb is not responsible to Dufy. As the negligence theory puts, Comparative negligence is to be seen when both (plaintiff, accused) are in a state of negligence.
In simple words, it would mean that if the plaintiff was 10% negligent during the time of accident/mishappening than she would be responsible for only 90% of the recovery she has claimed.
Since here both were completely emotionally rattled, Dufy missed on a chance to convict the accused Caleb of causing an accident.
You are going to deposit $18,000 today. You will earn an annual rate of 2.9 percent for 9 years, and then earn an annual rate of 2.3 percent for 12 years. How much will you have in your account in 21 years
Answer:
$30,586
Explanation:
Using an annuity formula, we will compound at 2.9% for 9 years and the money at the end of year 9 will be used to compound at 2.3% for 12 years.
So compounding formula is:
Future Value = Present Value * (1+r)^n
For compounding at 2.9% for 9 years,
Future Value = $18,000 * (1+2.9%)^9 = $23,281
And now using the money at the end of year 9 to compound at 2.3% for 12 years:
Future Value = $23,281 * (1+2.3%)^9 = $30,586
Final answer:
The student will have approximately $30,422.79 in their account after 21 years, given the two separate periods of interest rates applied to their initial deposit of $18,000.
Explanation:
The student wants to calculate the future value of two separate investments. The first is an $18,000 deposit that grows at a 2.9 percent annual interest rate for 9 years. The second growth period is at an annual rate of 2.3 percent for 12 years. The total time for both investments is 21 years.To find the future value of these investments, we use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A is the amount of money accumulated after n years, including interest.
P is the principal amount (the initial amount of money).
r is the annual interest rate (decimal).
n is the number of times that interest is compounded per year.
t is the time the money is invested for in years.
For the first 9 years, the interest is compounded annually at a rate of 2.9%, so:
A1 = 18000(1 + 0.029/1)^(1 x 9)
A1 = 18000(1.029)^9
A1 = 18000 x 1.291364
A1 = $23,224.55
Now, this amount becomes the principal for the next 12 years at an interest rate of 2.3%:
A2 = A1(1 + 0.023/1)^(1 x 12)
A2 = 23224.55(1.023)^12
A2 = 23224.55 x 1.309573
A2 = $30,422.79
Therefore, after 21 years, the total amount in the account is approximately $30,422.79.
Franklin, John, Henry, and Harry have decided to pool their financial resources and business skills in order to open up and run a coffee shop. They will share any profits or losses that the business generates and will be personally responsible for making good on any debt that their business undertakes.
Their business should be classified as a
Answer:
Their business should be classified as a Partnership.
Explanation:
The three major types of businesses are Sole Proprietorship, Partnership & Corporation. Sole Proprietorship has only one member and corporations have shared ownership and big in size. Partnerships are businesses in which a small number of people decide to pool in and start a business and are personally liable for any business debts. In this case the coffee shop opened by Franklin, John, Henry, and Harry would be classified as a Partnership.
Partnerships have a limited life and it will dissolve if any of Franklin, John, Henry, and Harry decide to leave the partnership unless stated otherwise in the charter of the partnership.
If during 2009, the country of Sildavia recorded a GDP of $65 billion, interest payments of $15 billion, imports of $13 billion, profits of $7 billion, exports of $15 billion, and rent of $7 billion, wages during 2009 in Sildavida were:___________.
Answer:
$36 billion
Explanation:
The computation is shown below:
For this question, we use the income approach for calculation the wages i.e shown below:
GDP = Interest payments + profits + rent + wages
$65 billion = $15 billion + $7 billion + $7 billion + wages
$65 million = $29 billion + wages
So, the wages would be
= $65 billion - $29 billion
= $36 billion
A customer has $24,000 to invest in mutual fund shares. The registered representative advises the customer to invest $8,000 on ABCD fund; $8,000 in DEFF fund; and $8,000 in XYZZ fund; to give the customer complete diversification and reduce risk. These 3 funds all have different sponsors. This action is:________ A) appropriate for the customer B) a violation known as a breakpoint sale C) a violation known as spinning D) a violation known as interpositioning
Answer:
A) Appropriate for the customer
Explanation:
By helping the customer divest his investment through placement in 3 different funds to reduce exposure in the event of failure is at best a conservative approach, which is the intrinsic nature of mutual funds. Low risk and fairly lucrative over time.
The customer's decision to invest equally in three different mutual funds, as advised, is appropriate because it aligns with the investment strategy of diversification. This approach mitigates risk by not concentrating the investment in a single fund or company, thus, is not a regulatory violation but a prudent investment choice.
Explanation:Investing in mutual funds is a strategy recommended by financial investors to achieve diversification. Diversification involves spreading out investments among various entities to reduce risk, akin to not putting all eggs in one basket. When a customer decides to invest an equal amount in three different mutual funds with different sponsors, as suggested, it is adhering to the principles of diversification. This strategy is designed to protect against significant losses that may occur if one focuses their investment in a single company or fund. Thus, the action described is appropriate for the customer.
It does not constitute a violation like a breakpoint sale, spinning, or interpositioning. A breakpoint sale refers to selling mutual fund shares in amounts just below the level for a reduced sales charge, spinning involves the practice of allocating IPO shares for an improper benefit, and interpositioning refers to the unnecessary inclusion of a third party between a broker and the best market for a client's transaction, which usually adds additional costs without any benefit to the client. The described investment strategy does not involve these practices but rather focuses on spreading investment risk by allocating funds into multiple mutual funds managed by different sponsors.
In reviewing his company's operations, a risk manager noticed that all of the company's finished goods were stored in a single warehouse. The risk manager recommended that the finished goods be divided among three warehouses to prevent all of the finished goods from being destroyed by the same peril. Dividing the finished goods among three warehouses illustrates
Answer: risk control
Explanation: Risk control measures are measures taken in response to a risk factor that has the potential to cause accident or harm in an organization. The control measures can either be designed to reduce the risks or eliminate them completely, with the latter obviously being preferred. It is a plan-based business strategy that aims to identify, assess, and prepare for any potential dangers or hazards, both physical and figurative that may interfere with an organization's operations and goals.
Which of the factors listed below contribute to the market value of a going concern? intangible assets market value of assets value of future investments extra earning power past share price
Answer:
intangible assets
market value of assets
extra earning power
Explanation:
As an accounting principle, going concern value means the value of a business or its assets considering that the business will continue to operate in the reasonable future. This is the opposite to the value assigned to assets or businesses that are being discarded or liquidated.
When you are trying to valuate a company, you have to consider the fair market value of its assets, its intangible assets, and its earning power (its ability to make higher than average profits).
The past share price is not useful in determining the present of the company and the value of future investments cannot be included until the investments are carried out.
Joe Smith earns $72,000 per year. His bank uses a rule that PITI must be equal to or less than one third of gross monthly income. If his home owner's insurance is $100 per month, roughly how much of a monthly payment can Joe afford including taxes over and above the $100 for insurance?
Answer:
Total Monthly payment = $1,900
Explanation:
Given:
Annual earning = $72,000
PITI (Principal, Interest, Taxes,Insurance) = 1/3 of Gross Monthly income
Monthly expenses = $100
Computation:
Gross Monthly income = Annual earning / 12
Gross Monthly income = $72,000 / 12
Gross Monthly income = $6,000
PITI (Principal, Interest, Taxes,Insurance) = 1/3 of Gross Monthly income
PITI (Principal, Interest, Taxes,Insurance) = 1/3 × ($6,000)
PITI (Principal, Interest, Taxes,Insurance) = $2,000
Total Monthly payment = PITI - Monthly expenses
Total Monthly payment = $2,000 - $100
Total Monthly payment = $1,900
Joe Smith can afford a monthly mortgage payment of $1,900 for principal, interest, and taxes, provided the total PITI does not exceed $2,000, which is one-third of his gross monthly income of $6,000, after accounting for his $100 homeowner's insurance.
Explanation:To calculate the amount Joe Smith can afford for his monthly mortgage payment, including taxes, we must adhere to his bank's rule that the PITI (Principal, Interest, Taxes, and Insurance) should not exceed one-third of his gross monthly income. Joe earns $72,000 per year, which translates into a gross monthly income of $6,000 ($72,000 divided by 12 months). One-third of this amount is $2,000 ($6,000 times one-third).
Given that Joe's homeowner's insurance is $100 per month, we need to subtract this amount from the $2,000 to determine how much is available for the rest of the monthly PITI payment. So, Joe can afford $1,900 per month for his principal, interest, and taxes after the insurance cost is deducted.
Note: This calculation does not include other potential expenses like mortgage insurance, which might be required if Joe's down payment is less than 20% of the home purchase price.
Krista goes to a store to buy a new liquid soap dispenser. When she purchases a new dispenser from the store she gets two liquid soap refill packets for free, as part of a promotional offer, but she will need to purchase refills later. In this scenario, the pricing strategy used for the soap dispenser is ________ pricing. Multiple Choice product line captive variable reference prestige
Answer:
Captive pricing
Explanation:
Captive pricing is the pricing of products that have both a "core product" and a number of "accessory products.". In the question, when she purchase a dispenser(core product) she gets two liquid soap(accessory product) for free, so the pricing strategy to engage is the captive pricing.
Final answer:
The pricing strategy used for the soap dispenser in which the main product is sold with complementary products is known as captive product pricing.
Explanation:
In the scenario where Krista buys a new liquid soap dispenser and receives two free liquid soap refill packets, the pricing strategy used is captive product pricing. This strategy involves pricing the main product (the soap dispenser) at a standard rate, while the consumable products (the soap refills) are priced to generate ongoing revenue. The dispenser is priced to encourage purchase and the refills, needed to continue using the primary product, are where the retailer makes most of the profit.
Kia, a top-level manager in a software firm, is allocating the company's resources to meet the organization's long-term goals. She is also defining the organization's activities for the next five years. In this scenario, Kia is most likely contributing to developing the company's _____. a. single-use plan b. tactical plan c. strategic plan d. ad hoc plan
Answer:
C. Strategic plan
Explanation:
Strategic planning involves developing a business strategy, method of implementing the business strategy and finally evaluating the business strategy in order to see if it has achieve its goal. It is characterized by strategy formulation, implementation and evaluation. In this case, Kia is contributing to the strategic plan by allocating company's resources to meet the long term goals of the company and defining long term activities, that is, developing a business strategy.
Final answer:
Kia, as a top-level manager, is involved in strategic planning, setting long-term goals and defining organizational activities for the future. This is distinct from tactical or single-use planning, focusing on the broader vision and long-term success of the company.
Explanation:
When Kia, a top-level manager in a software firm, is allocating the company's resources to meet the organization's long-term goals and defining the organization's activities for the next five years, she is most likely contributing to developing the company's strategic plan. Strategic planning involves setting the long-term direction and goals for the entire organization and is generally the responsibility of top managers and executives, such as the CEO, along with function managers like the CFO and CIO. This type of planning is critical for aligning the company's operations with its long-term objectives and ensuring that the different functions, including IT and business objectives, work cohesively towards achieving these goals.
A strategic plan focuses on setting the long-term vision and goals, which are essential for shaping the future of an organization and guiding its overall decision-making process. It vastly differs from a tactical or single-use plan, which are more focused on mid-term and short-term activities and specific project-based initiatives. Thus, in Kia's role, the development of a strategic plan is inherent to positioning the organization for long-term success and ensuring that the management's actions are aligned with the broader organizational goals and strategies.
Harmonization of accounting standards:_______. A. Is the same as convergence of accounting standards.B. Always ensure resulting of comparable financial statements internationally.C. Forces accounting difference to be resolved through litigation.D. Refers to the reduction of alternatives while retaining a high degree of flexibility in accounting practices.
Answer:
A. Is the same as convergence of accounting standards
Explanation:
Harmonization of accounting standards mean the process of increasing the compatibility of accounting practices by setting bounds for the degree of variations.
The notion of harmonization can be replaced by the concept of convergence.
Harmonization of international accounting standards is an imposition of standards by economically superior countries.
About 10 years ago you founded an energy company that operates as a privately-held corporation with only limited stock ownership. You are considering selling stock to the public for the first time through an initial public offering. All of the following are disadvantages for taking a company public except:
a.going public is costly.
b.financial reports would have to be made available to the public.
c.you would get an influx of cash that doesn't have to be paid back.
d.you would be responsible to shareholders who would expect favorable short-term performance.
Answer:
you would get an influx of cash that doesn't have to be paid back.
Explanation:
Initial public offering of a companie's shares is opening the purchase of company shares to the general public. This gains more funds for the company to run its operations and better make profit.
One major advantage of going public with an IPO is that it provides an influx of cash that does not need to be paid back.
When cash is obtained from sale of shares to the public it is not paid back to shareholders.
If shareholders want to get their money back they will sell the shares on the secondary market to others that want to buy the company shares.
What characteristic of water accounts for the fact that coastal regions do not experience such large temperature variations as landlocked areas? Please choose the correct answer from the following choices, and then select the submit answer button. Water is a good solvent. Water has a low density as a solid. Water molecules are cohesive. Water has a large heat capacity. Water has a high surface tension.
Answer:
Option D; WATER HAS A LARGE HEAT CAPACITY.
Explanation:
Heat capacity is the amount of energy required to raise the temperature of a substance by 1°C. This activity demonstrates that water has a higher heat capacity than water.
A large body of water has a higher heat capacity than land, meaning it takes more energy to warm and cool the temperature of water.
Everyday, the land heats much faster than the sea and every night the land cools faster. When the land heats up, the air above it heats up as well. On the other hand, the ocean heats up and cools down relatively slowly. Therefore, areas near the ocean generally stay cooler during the day and have a more moderate temperature range than inland areas.
The characteristic of water that accounts for the fact that coastal regions do not experience such large temperature variations as landlocked areas is that WATER HAS A LARGE HEAT CAPACITY.
Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common stock, recorded expenses of $1,500,000, and paid dividends of $90,000. If Patterson’s ending retained earnings was $350,000, what was the company's revenue for the year?A. $1,615,000
B. $1,800,000
C. $1,525,000
D. $700,000
Answer:
The company's revenue for the year is $1,615,000.
The correct option is A. $1,615,000.
Explanation:
Given:
Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common stock, recorded expenses of $1,500,000, and paid dividends of $90,000.
If Patterson’s ending retained earnings was $350,000.
Now, to find the company's revenue for the year.
Opening Retained earnings = $325,000.
Common stock = $500,000.
Recorded expenses = $1,500,000.
Paid dividends = $90,000.
Closing Retained earnings = $350,000.
Now, to get the revenue of the company we put formula:
Revenue = (Recorded expenses + paid dividends + closing Retained earnings) - opening Retained earnings
[tex]Revenue=(1500,000+90,000+350,000)-325,000[/tex]
[tex]Revenue=1940000-325000[/tex]
[tex]Revenue=1615,000.[/tex]
Therefore, the company's revenue for the year is $1,615,000.
The correct option is A. $1,615,000.
Suppose Microsoft announces it is cutting the prices of some of its software titles (mainly games) by 25 percent. Assuming that Microsoft is seeking to increase revenues, it must believe that the elasticity of demand for these products is
Full question:
Suppose Microsoft announces it is cutting the prices of some of its software titles (mainly games) by 25 percent. Assuming that Microsoft is seeking to increase revenues, it must believe that the elasticity of demand for these products is
a. elastic.
b. inelastic.
c. of unitary elasticity.
d. perfectly inelastic.
Answer:
Assuming that Microsoft is seeking to increase revenues, it must believe that the elasticity of demand for these products is elastic.
Explanation:
The elasticity of demand encourages companies to prognosticate variations in demand based on different factors including fluctuations in price and the market entrance of competitive goods.
Elastic demand is one in which the transition in quantity needed due to a variation in price is large. Products with familiar replacements manage to possess elastic demand. If the elasticity outcome is higher than or similar to one, the demand is supposed to be elastic. Patterns of elastic goods carry clothing or electronics
Final answer:
Microsoft's decision to cut software prices suggests it believes demand is elastic; a price decrease will lead to a proportionally larger increase in quantity demanded, raising revenues.
Explanation:
The student's question deals with the principle of price elasticity of demand which is a crucial concept in economics, specifically related to business and market strategies. If Microsoft chooses to reduce prices by 25 percent to increase revenues, it is based on the assumption that the demand for these software products is elastic. This means that the decrease in price is expected to lead to a proportionally larger increase in the quantity demanded, thus, resulting in a rise in total revenue. Elastic demand is characterized by consumers buying much more of the product when the price drops slightly.
Some companies use a 360-degree feedback process, which includes feedback from an employee's subordinates, peers (colleagues), and supervisor(s), as well as a self-evaluation by the employee him or herself. This approach would be particularly useful in a:_____________.
The 360-degree feedback process provides a comprehensive method of performance appraisal in organizational settings, encompassing feedback from various sources including the employee themselves. It helps identify improvement areas and promotes professional development among employees. However, its effectiveness depends upon the culture and alignment with other performance management strategies of the organization.
Explanation:The 360-degree feedback process is particularly useful in organizational settings where evaluation of an employee's performance and development is needed. Not only does it involve the employee's self-assessment, but also takes into account the perspectives of their subordinates, peers, and supervisors. While some studies, like Atkins and Wood (2002), suggest variability in these ratings due to their subjective nature, other perspectives, like Tornow (1993a) see these discrepancies as opportunities for greater learning and professional development.
Fundamentally, the 360-degree feedback process is used to provide performance appraisal, with the larger goal of identifying areas of improvement and promoting self-development among employees. As such, it can be instrumental in decisions about an employee's position, remuneration, and potential training needs. Through this method, the qualities being evaluated gain a holistic view, making the process more comprehensive and meaningful.
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The 360-degree feedback process, involving feedback from various sources like subordinates, peers, supervisors, and self-evaluation, is particularly useful in a leadership development context.
It helps leaders gain a comprehensive understanding of their strengths, weaknesses, and areas for improvement from multiple perspectives.
This approach fosters self-awareness, promotes accountability, and supports professional growth by providing valuable insights into leadership effectiveness, interpersonal skills, and overall performance. Therefore, the 360-degree feedback process is highly beneficial for developing and refining leadership capabilities in individuals and enhancing organizational effectiveness.
complete question:-
Some companies use a 360-degree feedback process, which includes feedback from an employee's subordinates, peers (colleagues), and supervisor(s), as well as a self-evaluation by the employee him or herself. This approach would be particularly useful in a:_____________.
Stephanie is looking to replace her coffee maker that only makes four pots of coffee. She wants a coffee maker that produces more, but has very little space in her kitchen. ___________ describes a requirement (must have) characteristic when Stephanie purchases her coffee maker?
Answer:
The size of the coffee maker describes a requirement characteristic when Stephanie purchases her coffee maker
Explanation:
Stephanie has a space constraint in her kitchen as well as output constraint with respect to the existing coffee maker,hence,in resolving the two issues she has opted a smaller coffee maker that can turn out more coffee pots.
In order to strike a balance between two opposing views,Stephanie could either create more to accommodate a bigger coffee maker or buys a smaller super-efficient coffee maker that is more expensive.
Without, I think Stephanie would prefer the latter suggestion
Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?
Answer:
The unemployment rate is 8.3%
Explanation:
The formula for computing the unemployed rate is as follows:
Unemployed rate = Number of Unemployed persons / Labor Force
The labor force is the aggregate of the unemployed and the employed persons. So, through dividing the number of the persons who are unemployed through labor force.
In this case, it is computed as:
Number of unemployed persons is 0.25 million
Labor force = Population × Participation rate
= 4 million × 75%
= 3
Therefore, the unemployment rate is as:
Unemployment rate = 0.25 / 3
= 8.3%
During the Bretton Woods Period the dollar was pegged to the gold at $35/oz. The German mark was pegged to the dollar at DM10/$. If the price of gold in pounds was £17.5/oz. What was the exchange rate between the German mark and the british pound?
Answer: 20 DM/GBP
Explanation:
The exchange rate is determined by following conversion:
[tex]x = (\frac{10 DM}{1 USD})\cdot (\frac{35 USD}{1 oz}) \cdot (\frac{1 oz}{17.5 GBP} ) \\x = 20 \frac{DM}{GBP}[/tex]
Abbott Corp.'s attorney estimates that the company will ultimately have to pay between $350,000 and $500,000 relating to current litigation, and that the most likely amount of the loss will be equal to $400,000. Abbott Corporation should record a contingent liability and loss of
Answer:
$400,000
Explanation:
Contingent liability and loss is explained as a loss that may or may not occur depending on uncertain events. Amount recorded for contingency loss is based on of the loss can be reasonably estimated. In this case, since the loss is probable and easy to estimate, and most likely amount be equal to 400,000, the amount that should be recorded as contingent liability and loss should be $400,000. The contingent liability can only be recorded when the loss or liability can be estimated. Otherwise, it should be written as disclosed.
Store supplies still available at fiscal year-end amount to $1,900. Expired insurance, an administrative expense, for the fiscal year is $1,650. Depreciation expense on store equipment, a selling expense, is $1,600 for the fiscal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,000 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2018.
Answer:
Current Ratio = 1.67:1
Acid Test Ratio = 0.1:1
Gross Profit Margin = 66%
Explanation:
Cash.......1000
Merchandise inventory...12,500
Store supplies....5800
Prepaid Insurance...2400
Accounts Payable...................10,000
Sales..............................111950
Cost of Goods Sold....38,400
Store supplies still available at fiscal year-end amount to $1,900. Expired insurance, an administrative expense, for the fiscal year is $1,650. Depreciation expense on store equipment, a selling expense, is $1,600 for the fiscal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,000 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2018.
Therefore Balance Store supplies = 5800-1900
Prepaid Insurance = 2400-1650
Balance Inventory = 11,000
Current Ratio = Current Assets/ Current liabilities
Current Ratio = (1000 cash + 11,000 inventory + 3,900 Store supplies + 750 prepaid insurance) / 10,000 Accounts payable = 16650/10000 = 1.67
Current Ratio = 1.67:1
Acid test Ratio = Current Asset - inventory / Current Liabilities
(16,650 - 11,000 inventory - 3,900 Store supplies - 750 Prepaid Insurance) /10,000 = 0.1
Acid Test Ratio = 0.1:1
Gross Profit Margin = Gross Profit / Sales x 100
Gross Profit = Sales - Cost of Goods Sold = 111,950 - 38400 = 73550
Therefore Gross profit Margin = 73550/111950 x 100 = 66%
Gross Profit Margin = 66%
Final answer:
Explanation of current ratio, acid-test ratio, and gross margin ratio based on the provided financial data.
Explanation:
Current ratio:
Current ratio is calculated by dividing current assets by current liabilities. In this case, current assets are $1,900 (store supplies still available) and current liabilities are $1,650 (expired insurance). Therefore, the current ratio is 1.15.Acid-test ratio:
Acid-test ratio, also known as quick ratio, is calculated by dividing quick assets by current liabilities. Quick assets exclude inventory from current assets. From the given information, quick assets would be $1,900 (store supplies) + $1,650 (expired insurance) = $3,550. The acid-test ratio would be 2.15.Gross margin ratio:
Gross margin ratio is calculated by dividing gross profit by net sales. Gross profit is net sales minus cost of goods sold. From the data provided, we can calculate the gross margin ratio using the figures for ending merchandise inventory and cost of goods sold.If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $95 each, then at her profit-maximizing level of output, Sarah will earn a ______ of ______ per day.
Answer:
Blank 1: Loss
Blank 2: $15
Explanation:
Following table is necessary for the calculation required:
Number of cakes per day: 0, 1, 2, 3, 4, 5, 6
Total cost per day: $100, $180, $220, $300, $400, $520, $660
The workings are attached in the document below:
To determine Sarah's daily profit from selling wedding cakes in a perfectly competitive market, we need to know her marginal costs and the quantity of cakes sold. Profit is maximized when marginal cost equals marginal revenue, which is the market price in perfect competition. Without these costs, we cannot calculate exact profits but can understand the profit-maximization principle with an example from a different business.
Explanation:The question refers to finding the profit-maximizing output level for Sarah's wedding cakes in a perfectly competitive market where each cake sells for $95. To determine Sarah's profits, we would need to know her costs associated with producing the wedding cakes. However, since these details are not provided, we cannot calculate her exact profit. Typically, in a perfect competition, profit is maximized when a firm's marginal cost (MC) equals its marginal revenue (MR), which is the price of the product in this market structure. Therefore, if Sarah's marginal cost of making a wedding cake is less than $95, her economic profit per cake would be the difference between $95 and her MC. Multiplying this profit per unit by the number of cakes she sells per day would give us her total profit.
In a scenario exemplified by Mama's pizzeria, where the marginal cost and the average total cost can be determined, the profit per unit can be calculated. For instance, if Mama's sells pizzas for $10.40 each and the cost per unit is $9.20, the economic profit per unit is $1.20. Given a production of 2,150 pizzas per week, the total economic profit amounts to $2,580 per week. Similarly, for Sarah's wedding cakes, we would need to know her costs per cake and the quantity produced to calculate her profits accurately.
Gene Craft Inc. is the market leader in the pharmaceutical industry. Though most of its resources are common to those of its competitors, a few rare resources have helped the company gain and sustain a competitive advantage. Which of the following assets of Gene Craft Inc. is most likely to be considered a rare resource that is best contributing to its competitive advantage?
A. The company's land and buildings
B. The company's plant and machinery
C. The company's raw material supplies
D. The company's chemical patents
Answer:
The company’s chemical patents; option D
Explanation:
First, to properly answer this question, we need to know what is meant by the term competitive advantage.
The term competitive advantage refers to the availability of some conditions that places the company better as a superior business compared to its contemporaries. It simply refers to the surrounding or underlying circumstances that gives a business an edge over its competitors.
Now let’s look at the options given and evaluate their correctness.
A. Is wrong
The company’s land advantage does not confer any competitive advantage to the company
B is wrong
While this might be correct to an extent, it is not entirely correct. This is because even with a a high level plant and machinery, the unavailability of something tangible to be produced renders them
C is wrong
While it may be true to an extent, it is not correct in its entirety
D is right
This is because it is the actual drive that is making the product of the company compete better in the market. It is their patents that stands them out from competition
Answer:
The answer for the resources that is best contributing to Gene Craft's Inc competitive advantage as a market leaser in the pharmaceutical industry is option D) The company's chemical patents
Explanation:
Among all the options listed here, Chemical patents is the rare resource that is best contributing the competitive advantage Gene Craft Inc enjoys in the pharmaceutical industry.
Chemical Patent is the best move that prevents other companies from replicating the success that they currently enjoy as a manufacturer.
Chemical patents is a patent for an invention in the chemical or pharmaceuticals industry. It is backed up by legislation and any defaulting party is subject to prosecution and payment of damages that may accrue.
In the pharmaceutical industry, the patent protection of drugs and medicines is of utmost importance, because competitors are looking for drugs and medicines that sell to copy.
Significant research and development spending as well as high risks is associated with the development of a new drug but once another competitor sees the formula, they can easily copy same by analyzing the pharmaceutical substance.
To prevent this from happening and maintain the status of a market leader. Chemical Patent is the best competitive advantage.
Which person is responsible for the financial support of the production and, working closely with the director, also contributes to many "directorial" decisions in the production process?
Answer:
The correct answer is The producer.
Explanation:
Production managers are the professionals who guarantee the proper functioning of a company's production.
Most production managers have responsibilities both at the factory and in the office. They often act as a liaison between factory administrators and senior management of the company. The particular characteristics of their work vary according to the industry for which they work.
Its functions include:
The planning and supervision of employee work; Supervision of production or manufacturing processes in manufacturing companies; Stock control and warehouse management; The resolution of incidents (such as machinery breakdowns, for example); The management of material resources; The search for strategies to increase the efficiency and effectiveness of production; Innovation and the design of products or services, etc.A television commercial for an apparel brand urges viewers to call its toll-free number to place an order, immediately. The commercial announces a free gift hamper to consumers who place an order before midnight. The apparel brand is making use of
A. support advertising.
B. sales promotion.
C. ambient advertising.
D. direct-response advertising.
E. publicity.
Answer:
Direct-response advertising.
Explanation:
direct-response advertising is the method of advertising where the customers are urged to respond to the market throught the use of direct response mechanisms. Example of these devices are coupon to cut and mail, business card, toll free number, and hotspot to click.
When a television commercial for an apparel brand urges viewers to call its toll-free number to place an order immediately, and announces a free gift hamper to consumers who place an order before midnight. The company is using direct response advertising.
Answer:
Direct response advertising
Explanation:
In this scenario, the kind of approach being made use of by the television commercial is the direct response advertising.
What do we understand by this?
It is a kind of strategy that involves putting mechanisms in place in form of an attachment to the advert, telling or urging prospective customers to directly respond to the advert if they wish to. It is a kind of marketing strategy that makes it seamless for the potential customer to reach out to the company advertising its products.
Onboarding programs help employees to integrate and transition to new jobs by making them familiar with corporate policies, procedures, cultures, and politics by clarifying work-role expectations and responsibilities.
Explanation:
The term on-boarding is a process handled mostly initiated by HR of the organization.
This is arranged for both newly recruited employees and for newly promoted employees
This would help the newly hired employees to know about the company, policies, procedures, expectations, responsibilities etc.
For the newly promoted employees, he would try to understand the new expectations and goals in a better way.
This is arranged to make "effective contribution" towards the company.
Procter & Gamble markets its popular multipurpose cleaner as Mr. Clean in North America and Asia but uses several different brand names like Maestro Limpio and Mr. Proper in other parts of the world. These differences arise because P&G is a(n) ________ firm.
Answer:
Multinational firm
Explanation:
Multinational firm ( MNC ) -
It refers to as an organisation working in any other country , which is responsible to control the production of the goods and services , is referred to as multinational firm .
It is also known as a transnational enterprise and multinational enterprise (MNE) .
Hence , from the given scenario of the question ,
The correct answer is multinational firm .
Indicate whether the scenarios would result in an increase, a decrease, or no change in the long-run aggregate supply (LRAS) curve for a hypothetical economy. Each label may be used more than once.1. The mandatory retirement age in Wonkaland is abolished. 2. Wonkaland's main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy. 3. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines. 4. The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world.
Answer:
1. The mandatory retirement age in Wonkaland is abolished.
INCREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: greater use of labor2. Wonkaland's main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy.
NO CHANGE IN THE LONG RUN AGGREGATE SUPPLY CURVE3. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines.
INCREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: greater use of capital investments4. The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world.
DECREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: lower use of capital investmentsExplanation:
The long run aggregate supply curve is only affected by changes in capital, labor and technology. If the use of these factors increases, the LRAS curve will increase, if their use decreases, then the LRAS curve decreases.
Multidivisional structure is the simplest organizational structure that is based on direct lines of authority extending from the top executive to the lowest level employees of an organization.1. True2. False
Answer:
False
Explanation:
A multidivisional structure organizes the divisions of an organization in different units and each of them work independently, handle their operations apart from the other ones but the central management provides the direction of the company. According to this, the answer is false because the multidivisional structure doesn't have direct lines of authority from the top executive to the lowest level employees as divisions work separately.