Answer:
the correct answer is D. Refers to the reduction of alternatives while retaining a high degree of flexibility in accounting practices.
Explanation:
The harmonization refers to having a high degree of variation or flexibility in the accounting standards. this allows the standard to be implemented by many organizations in various scales, sizes and industries without affecting their financial performance.
A firm has $200 million in total revenue and explicit costs of $190 million. Suppose its owners have invested $100 million in the company at an opportunity cost of 10 percent interest rate per year. The firm's economic profit is:_________.1. $400 million2. $100 million3. $80 million4. Zero
Answer:
The answer us 4. Zero
Explanation:
Economic profit equals explicit cost minus implicit cost.
Explicit cost is also known as the accounting cost. It is the cost that are directly related or attributed to the production.
Implicit cost is the opportunity cost. It it the cost cost of the alternative forgone. The cost of the idea or business that wasn't chosen.
Explicit cost is $190 million
Implicit cost is $10 million( 10percent of $100million)
Total revenue is $200 million.
Therefore, economic profit is
($200 - $190 - 10)million.
= 0 or zero
Frictional unemployment occurs when:___________.1. there is friction between an employer and employee. 2. a worker decides to quit one job to seek a different job. 3. a large corporation transfers a worker to another city. 4. college students go back to school at the end of the summer.
Answer:
2. a worker decides to quit one job to seek a different job.
Explanation:
Frictional unemployment occurs when workers are moving from one job to another. It happens when the available jobs and the workers' skills do not match. For example, a graduate from the university cannot find a job that matches the skills straight away. The period of searching for that first job is called frictional unemployment.
Frictional unemployment is naturally occurring in the economy. It is present when the economy is in full employment. It is present as workers are always searching for better opportunities elsewhere, and students are graduating and searching for their first employment.
Guarantees also may trigger financial statement recognition of a liability. Which of the following guarantees would not require financial statement recognition on the books of the guarantor? a. Guarantee to repay the debt of another firm that is solvent and profitable (the interest rate of the debt was not reduced due to the guarantee) b. Guarantee to repurchase accounts receivable sold in a prior transaction if the receivables become uncollectible c. Guarantee to repay the debt of another firm that is insolvent d. Guarantee to repay the debt of another firm that is currently solvent but has no history of profitability (the interest rate of the debt was reduced due to the guarantee)
Answer:
a. Guarantee to repay the debt of another firm that is solvent and profitable (the interest rate of the debt was not reduced due to the guarantee).
Explanation:
According to the rules of full disclosure, the company is to disclose facts about all transactions or contracts that impact and business. For example of a business is most likely to go out of business because of an unfavourable court ruling, this information must be disclosed in the companie's financial statement. If however the activity will not impact the business there is no need to disclose.
In this instance the guarantee need not be disclosed since the guarantee is to repay debt of a company that is solvent and profitable. The chances that the guarantee will become enforceable is very slim.
Also the interest rate of the debt was not reduced due to the guarantee. So there is no financial impact on the business.
An investor buys 100 shares of ABC at $50 per share and also sells 1 ABC April 45 call for 8. In the event that the investor is assigned an exercise notice and ABC is at 60, the trader's gain or loss on a per share basis would be:
Answer:
The investor earned $3 per share or $300 in total.
Explanation:
Investor's basis per share = $50 (purchase price)
Investor received $8 per share for selling the call option, and then he sold the stocks ate $45 per share.
investor's gain/loss = total revenue per share - cost basis = ($8 + $45) - $50 = $53 - $50 = $3 per share
since the investor purchased 100, shares, total profit = 100 x $3 = $300
Under an international regime of fixed exchange rates, countries with a BOP ________ should consider ________ their currency while countries with a BOP ________ should consider ________ their currency.
Answer: surplus, revaluing, deficit, devaluing.
Explanation: Revaluation of a currency is the official increase in value of a currency in relation to a foreign currency in a fixed international exchange rate system.
Therefore a country with a surplus Balance of Payment will have the bargaining power to achieve a revaluation of its currency. This will translate to increase in the BOP of the country because of the increased value of its currency.
However, a devaluation is the decrease in value of a currency, and this is what a country does when it encounters a BOP deficit.
Answer:
Under an international regime of fixed exchange rates, countries with a BOP SURPLUS should consider REVALUING their currency while countries with a BOP DEFICIT should consider DEVALUING their currency.
Explanation:
The advantage of a free floating currency exchange is that the balance of payments (BOP) will always be 0. That means that the currency exchange rate automatically adjusts to surpluses by appreciating the currency, while a deficit generates a depreciation of the currency.
When the exchange rate is fixed, several problems can occur, either by having a currency with a lower than normal value, or having a currency with a higher than normal value. The problem with fixed exchange rates is that adjustments aren't smooth and tend to very large and sudden.
We can use Argentina during the 1990s as an example. During more than a decade the Argentinean peso was pegged to the US dollar and it was worth exactly $1 per peso. At the beginning this high value of the peso helped the economy grow and stabilize from a rampant hiperinflation that had depressed the country's economy. So everyone was happy at least for a few years, but then the economy couldn't keep up its growth rate and their exports started to decrease due to high cost of manufacturing. Argentina's exports costed dollars while other Latin countries had costs in local currencies that were worth less than the dollar. Once the BOP's deficit got so large, Argentina had to devaluate its currency form 1 peso per $1, to more than 4 pesos per $1 in just one day.
Two countries, A and B, both are currently in recession. The values of the MPS for A and B are 0.1 and 0.5 respectively. The governments of both countries are planning to boost income through an expansionary policy of a tax cut of $1 billion.
Answer:
Explanation:
The policy of tax cut will be less effective in country B than in country A since the value of the tax multiplier is lower in country B.
The multiplier effect refers to the increase in final income arising from any new injections.
Calculating the Multiplier Effect for a simple economy
k = 1/MPS
A = 1/0.1 =10
B= 1/.5=2
Which terms will make the following statement true? When manufacturing overhead is overapplied, the Manufacturing Overhead account has a __________ balance and applied manufacturing overhead is greater than __________ manufacturing overhead.
a) debit, actual
b) credit, actual
c) debit, estimated
d) credit, estimated
Answer:
b) credit, actual
Explanation:
The journal entry to record the over applied overhead is
Cost of Goods sold A/c Dr XXXXXX
To Manufacturing overhead A/c XXXXXX
(Being the over-applied overhead is recorded)
The over-applied overhead is arise when the applied manufacturing overhead is more than the actual manufacturing overhead
In mathematically
= Applied manufacturing overhead - actual manufacturing overhead
= Over-applied
Suppose 52% of students support the idea of paying student government officers. A random sample of 400 students is taken. What is the probability that fewer than 50% of the students surveyed will express support for paying student government officers?
Answer: The probability that fewer than 50% of the students surveyed will express support for paying student government officers is 8.501 × 10^-65
Explanation:
Since fifty two percent (52%) of the surveyed students support the idea of paying student government officers, it consequently means that 48% (100% - 52%) of students are against the idea or not in support of it.
To find the probability that less than or fewer than fifty percent (< 50%) of the 400 surveyed students are in support, we must obtain the actual number of students that represent 50% of the individuals surveyed.
= (50/100) × 400
= 200 students.
Therefore, we are to find the probability that less than 200 of the surveyed students are in support of the payment. This means that at least, 201 of the surveyed students are not in support of the payment.
Since, 48/100 generally represents the percentage of students that are not in support of the idea, then we multiply 48/100 by itself up to 201 times. The opinions of the other 199 surveyed students doesn't matter
= (48/100)^201
= 8.501 × 10^-65
The development of a product that is closely related to one or more products in the existing product line, but designed specifically to meet somewhat different customer needs is best described as a(n) _______. a. quality modification b. aesthetic modification c. product modification d. brand extension
Answer:
d. brand extension
Explanation:
Brand extension is also called line extension. It involves using the same brand name for products that are closely related to the original but meet e different set of consumer needs. Additional items are introduced in the product category using the same brand name. For example introducing flavors, colours, ingredients, and package sizes.
Line extensions are of two types:
-Horzontal: price and quality are consistent, bit other factors like flavour and colour are changed.
-Vertical: involves increase or decrease of quality and price to create luxury and inferior goods
Bridget, the youngest owner of a family-owned restaurant, wants to make sure her company’s culture is embedded in their organization. In a recent tradeshow workshop, she learned that she can do this by having company rites and rituals, continuing to tell stories about company legends, and being a role model to her employe .A. True B. False
Bridget, the youngest owner of a family-owned restaurant, wants to make sure her company’s culture is embedded in their organization. In a recent trade show workshop, she learned that she can do this by having company rites and rituals, continuing to tell stories about company legends, and being a role model to her employee - True
Explanation:The expectations, philosophy and the values and experiences that an organisation has refers to the culture of an organisation. This is unique to each and every firm. These are considered as an important values that can be used as a guide in making the employees of an organisation to know about the expectations and the inner working of the particular organisation.
Culture of any organisation plays a major role in influencing the people who are working in it. In the given example, Bridget who is a owner of a restaurant want to make sure that the culture and values of the organisation are embedded within it. Thus, she also tells stories about the legends so that the employee can consider them as their role model.
True. Company culture can be embedded in an organization through rituals, storytelling about company legends, and by founders or leaders being role models.
The statement that Bridget, the youngest owner of a family-owned restaurant, can ensure her company’s culture is embedded in their organization by having company rites and rituals, continuing to tell stories about company legends, and being a role model to her employees is true. Stories serve as a powerful tool to communicate the company's history, its values, and priorities, creating a bond between the employees and the organization. Examples such as 3M's creation of Post-it notes and Ben & Jerry’s adherence to their founders’ original values and vision demonstrate how founders' beliefs shape a company’s culture. Furthermore, creating new symbols and stories, as Continental Airlines did when changing its culture, highlights the importance of these elements in aligning employees with the company’s vision.
Htc started as an original equipment manufacturing firm (oem) for brand-name mobile device companies. later, it started offering a line up of innovative and high-performance smartphones by acquiring one & co., a san francisco-based design firm. this strategic move of htc is known as___________.
Answer:
Forward vertical integration
Explanation:
Forward vertical integration is a strategy that allows companies to get more control of their business value chain and be more competitive by including the distribution of the products to be able to reach the customers directly. According to this, the answer is that the strategic move of HTC is known as forward vertical integration as HTC acquired one & co. to be able to offer a line of smartphones which was a move to distribute the cellphones they manufactured directly to the customers.
Formulate and use linear programming to solve the following problem. A firm wants to determine how many units of each of two products (products X and Y) they should produce in order to make the most money. The profit from making a unit of product X is $100 and the profit from making a unit of product Y is $80. Although the firm can readily sell any amount of either product, it is limited by its total labor hours and total machine hours available. The total labor hours per week are 800. Product X takes 4 hours of labor per unit and Product Y takes 2 hours of labor per unit. The total machine hours available are 750 per week. Product X takes 1 machine hour per unit and Product Y takes 5 machine hours per unit. Write the constraints and the objective function for this problem, solve for the best mix of product X and Y, and report the maximum value of the objective function
Answer:
Objective function: Maximize Z = $100 X + $80 Y .
Subject to:
4 X + 2 Y < = 800
1 X + 5 Y < = 750
Explanation:
The total labor hours per week are 800. Product X takes 4 hours of labor per unit and Product Y takes 2 hours of labor per unit.
4 X + 2 Y < = 800
The total machine hours available are 750 per week. Product X takes 1 machine hour per unit and Product Y takes 5 machine hours per unit.
1 X + 5 Y < = 750 ,
X = 138.89
Y = 122.22
Z = $23,666.67
Final answer:
This response explains how to use linear programming to determine the optimal product mix for maximizing profit within given constraints.
Explanation:
Linear programming involves maximizing or minimizing a linear objective function subject to linear constraints. In this case, the firm wants to maximize profit by determining the optimal mix of Product X and Product Y within the given constraints.
The constraints for this problem are:
4X + 2Y ≤ 800 (Labor hours constraint)X + 5Y ≤ 750 (Machine hours constraint)X, Y ≥ 0 (Non-negativity constraint)The objective function for this problem is to maximize profit, which can be expressed as Z = 100X + 80Y. Solving this linear programming problem will provide the best mix of Product X and Product Y and the maximum value of the objective function.
An economy produces 10X, 20Y, and 30Z in a year. Base-year prices for these goods are $1, $2, and $3, respectively. Current-year prices for these goods are $2, $3, and $4, respectively. What is Real GDP
Answer:
$140
Explanation:
The computation of the real GDP is shown below:
For computing the real GDP first we have to determine the inflation rate
Inflation rate formula is
= (Current year price - base year price) ÷ (Base year price)
For Product X
= ($2 - $1) ÷ (1) = 1
For Product Y
= ($3 - $2) ÷ (2) = 0.5
For Product Z
= ($4 - $3) ÷ (3) = 0.33
Now the real GDP is
= (Base year price of X)÷ (Inflation rate) + (Base year price of Y)÷ (Inflation rate) + (Base year price of Z)÷ (Inflation rate)
= (10) ÷ (1) + (20) ÷ (0.5) + (30) ÷ (0.3333)
= 10 + 40 + 90
= $140
Therefore, the Real GDP of the economy, using base-year prices, is [tex]\boxed{\$140}.[/tex]
The correct method to calculate Real GDP is to use the base-year prices to value the current year's production of goods and services.
This is because Real GDP is a measure of the economy's output adjusted for price changes, allowing for a comparison of the economy's production across different years.
Given the production quantities and prices, we calculate Real GDP as follows:
For good X, the economy produces 10X units. Using the base-year price of $1 for X, the value of X's production is [tex]\(10X \times \$1 = \$10X\).[/tex]
For good Y, the economy produces 20Y units. Using the base-year price of $2 for Y, the value of Y's production is [tex]\(20Y \times \$2 = \$40Y\).[/tex]
For good Z, the economy produces 30Z units. Using the base-year price of $3 for Z, the value of Z's production is [tex]\(30Z \times \$3 = \$90Z\).[/tex]
Now, we sum up these values to get the Real GDP:
[tex]\[ \text{Real GDP} = \$10X + \$40Y + \$90Z = \$140 \][/tex]
Wayne worked in an office. He had no criminal record, had never had a complaint made against him about his work or his conduct, and had been a faithful employee for nearly 20 years. One day, Wayne followed his supervisor to his home and fatally shot him. The estate of the supervisor sued the company, claiming it should have been aware of Wayne's growing frustration with work. The company's best defense will be that
Answer:
A) there was no way to foresee that the incident would happen.
Explanation:
Wayne hadn't done anything wrong before in the company, his behavior at the workplace could be described as very good; no complaint in 20 years and no criminal record what so ever. If Wayne was frustrated about his job, he disguised it very well. No one can predict this type of behavior if the person shows no prior signs of violence or frustration.
Final answer:
The company's defense in the legal case against Wayne's fatal action towards his supervisor would likely be based on lack of foreseeability, due to Wayne's clean record and no prior indications of violence. They would need to show that a reasonable person could not have predicted the crime, in line with established legal standards.
Explanation:
The question relates to a legal case where Wayne, an employee with no prior criminal record, fatally shot his supervisor and the supervisor's estate filed a lawsuit against the company, arguing that it should have been aware of Wayne's growing frustration. The company's best defense might be to argue that there was no reasonable way to predict Wayne's violent action because he had a clean record and his behavior had not previously indicated any threat. In legal terms, this is known as lack of foreseeability. The company could support its defense by referencing the standards set by past legal cases, such as the reasonable person standard, which judges whether a typical person could have predicted or prevented the crime.
The real-world occurrence of violence in the workplace, such as the incident in Edmond, Oklahoma, where an employee who was known to be troubled committed a mass shooting, does highlight the necessity for employers to be vigilant. However, it also emphasizes that not all scenarios are predictable or preventable, especially when there is no warning sign, as with Wayne. When incidents involve actions fundamentally unpredictable and out of the control of the employer, the defense could argue that the employer met their legal obligations and there was no actionable negligence on their part.
The costs transferred from a prior process to a subsequent process are a.treated as another type of materials cost for the receiving department. b.referred to as transferred-in costs (for the receiving department). c.referred to as the cost of goods transferred out (for the transferring department). d.All of these. e.None of these.
Answer:
D. All of the above
Explanation:
The cost transferred from a previous process to a current process is known as transferred in cost. It is incured when cost in one department is move to another. It is treated as another type of material cost for the receiving department and it is the cost of goods transferred out of the transferring department. It is the cost of one department moved to another.
Why are female fans particularly valuable to the sports industry? Cite two specific reasons.
Answer:
1. Potential huge target market for ticket sales
2. Advertising opportunities for different products
Explanation:
The proportion of female sports fan actually pretty low compared to the male counterpart. (For example, only around 22% of the basketball's fan base are women.)
That begin said , sports industry might want to focus on expanding the women's fan base because it could provide them with good financial incentives :
1. Potential huge target market for ticket sales and merchandise
More women fan base equal to more ticket sales that sold overall during the games, as long as it does not surpass the stadium's capacity. The sales of team's jersey and signs will also increase along with it.
2. Advertising opportunities for different products
Advertising is a huge chunk of sports teams' profit. Since the majority of sport fans are men, the products that partnered with the team for advertisement tend to be to targeted toward men (such as truck tire or male cologne).Having larger women fan base will provide opportunities for brands that targeted toward women.
Which of the following is true? Multiple Choice The Product "P" in the marketing mix stands only for physical goods. The Product "P" in the marketing mix stands for both physical goods and services. The Product "P" in the marketing mix stands only for tangible merchandise. The Product "P" in the marketing mix stands only for physical merchandise. The Product "P" in the marketing mix stands strictly for physical goods and tangible merchandise.
Answer:
Explanation:
The Product "P" in the marketing mix stands strictly for physical goods and tangible merchandise.
The correct option is b. The Product P in the marketing mix stands for both physical goods and services.
The marketing mix, often referred to as the 4 Ps, includes Product, Price, Place, and Promotion. The Product P encompasses more than just tangible physical goods; it also includes services. A product is anything that can be offered to a market that might satisfy a want or need. This includes intangible items such as services, which are a form of product that does not result in the ownership of anything. Services are characterized by their intangibility, inseparability of production and consumption, heterogeneity, and perishability.
Therefore, the Product component of the marketing mix is not limited to physical goods but also includes services. This broad definition ensures that the marketing mix is applicable to a wide range of offerings, whether they are physical products, services, or a combination of both.
Which of the following statements are correct regarding the method of valuation by comparables? (Choose 2). 1. A firm's market value can be estimated by using the share price of any similar sized firm. 2. A firm's market value can be estimated by finding the share price of a similar firm and using that value. 3. A firm's market value can be estimated by multiplying its book value by the market/book ratio for a similar firm. 4. A firm's market value can be estimated by multiplying its earnings per share by the P/E ratio for a similar firm.
Answer:
Option 3 & 4
Explanation:
A firm's market value can be computed by multiplying it's earnings per share with P/E Ratio of a similar firm.
Earnings per share = [tex]\frac{Earnings\ attributable\ to\ stockholders}{No.\ of\ shares\ outstanding}[/tex]
Price Earnings Ratio = [tex]\frac{Market\ Price\ per\ share}{Earnings\ per\ share}[/tex]
The product of the above two would be the market price per share of the firm.
Similarly, Market/Book ratio = Total Market Capitalization/Book Value
Also, known as price to book ratio, the product of Market/Book ratio of a similar company and Book value of a company yields Market value of the company.
The correct statements concerning the valuation by comparables method are: (1) a firm's market value can be estimated using the share price of a similar firm and (2) by multiplying its earnings per share by the P/E ratio of a similar firm.
Regarding the method of valuation by comparables, the two correct statements are:
A firm's market value can be estimated by finding the share price of a similar firm and using that value.
A firm's market value can be estimated by multiplying its earnings per share by the P/E ratio for a similar firm.
The valuation by comparables method relies on financial metrics and market ratios from similar companies to estimate a firm’s market value.
This is done to ascertain whether the stock is overvalued or undervalued, using key financial ratios like the P/E Ratio, which represents the price investors are willing to pay per dollar of earnings.
However, it is not advised to use the share price of just any similar-sized firm without consideration of financial specifics and market conditions.
A company has increasing marginal returns. Total production is 5 units when the first worker is hired. Total production rises to 12 units when the second worker is hired. What must happen to total production when the third work is hired if the company is to maintain increasing marginal returns?
Answer:
Total production should be greater or equals to 20 units.
Explanation:
Increasing marginal returns is an improvement in the quantity of goods produced by a company and it typically occurs over the short period of time when the amount of a variable input is initially added to a fixed input.
so given that total production increases when the first and the second workers were hired, therefore total production should be more than 20 units
When consumers need to purchase a refrigerator, they usually evaluate different models across a set of features or characteristics, such as storage capacity, freezer shelving, and energy cost efficiency. Such an evaluation is an example of a(n) _____.
Answer:
The correct answer is attribute-based evaluation.
Explanation:
The products are susceptible to an analysis of the tangible and intangible attributes that make up what can be termed as their personality.
This analysis is carried out through the evaluation of a series of factors that allow dissection of the product, starting from the central elements to the complementary ones, so that in view of both ours and those of the competition, we can elaborate the marketing strategy that allows us to position the product in the market in the most favorable way. In any case, the different factors that we include below have to serve us only as a script or reference, since depending on the product that we commercialize other totally different attributes will be studied.
A company using the periodic inventory system has inventory costing $152 on hand at the beginning of a period. During the period, merchandise costing $492 is purchased. At year-end, inventory costing $356 is on hand. The cost of goods sold for the year is:____________.A. $288B. $152C.$492D.$356
Answer:
A. $288
Explanation:
The cost incurred to produce or purchase the product which is being sold is called cost of goods sold.
Cost of Goods Sold = Beginning Inventory + Purchases in the period - Ending Inventory
Cost of Goods Sold = $152 + $492 - $356
Cost of Goods Sold = $288
Answer:
A. $288
Explanation:
We solve using the inventory identity
[tex]$$Beginning Inventory + Purchase = Ending Inventory + COGS[/tex]
We replace for the know values and solve for COGS like in a sovle for X question
152 + 492 = 356 + COGS
644 = COGS + 356
COGS = 644 - 356 = 288
Sidney took a $850 cash advance by using checks linked to her credit card account. The bank charges a 3 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived What was the cash advance fee? (Round your answer to 2 decimal places What was the interest for one month at an 12 percent APR? (Round your answer to 2 decimal What was the total amount she paid?
Answer: $884
Explanation:
To calculate the cash advance fee paid. We have:
3% cash advance fee multiplied by the amount borrowed.
0.03 x 850 = $25.50.
To calculate the interest for one month at a 12 percent APR.
850 x 0.12 x 1/12
= $8.50.
To calculate the total amount she paid:
850 + 25.50 + 8.50
= $884
Which the following consists of all the benefits a product will provide for consumers or business customers? A. Augmented product B. Core product C. Actual product D. Good E. Attributes
Answer:
The correct answer is: E. Attributes.
Explanation:
Characteristics of a product are considered, the particularities that must necessarily be part of its nature. If a change in a particularity does not determine that it is a different product, or that it can be traded independently, that particularity will be a characteristic.
We talk about attributes when the particularities that make up a product determine the existence of a different product if there is a change in them. Therefore, it will be possible to market the original product and the product with the changed attribute separately. For example, if color is an attribute, and the original product is blue. A red product can be marketed independently of blue.
The attributes of a product may be susceptible to many different classifications, to highlight the distinction between tangible attributes and intangible attributes of a product. In turn, physical and functional ones can be distinguished within tangibles. In this way we have a classification in physical, functional and psychological attributes. The latter being the characteristic intangible attributes of a product.
It is also common to talk about the distinction between intrinsic attributes, which usually coincide with physical attributes, and external attributes, which serve to identify the product.
Thus, physical attributes are understood as those related to the material aspects of a product while functional attributes are those related to the utilities or benefits of a product.
It is important to keep in mind that, as in the case of the distinction between attributes and characteristics, the distinction between physical attributes and functional attributes does not have absolute character. That is, the physical attributes of one product can be functional attributes in another.
Jacqui decides to open her own business and earns $50,000 in accounting profit the first year. When deciding to open her own business, she turned down three separate job offers with annual salaries of $30,000, $40,000, and $45,000. What is Jacqui's economic profit from running her own business
Answer:
Jacqui's economic profit from running her own business is $5,000
Explanation:
Economic Profit / loss is the net of of revenue made from sale of an output and all the expenses associated with that sale including opportunity cost as well.
Economic profit = Income - Implicit Expenses - Explicit Expenses
Implicit expenses are the opportunity costs and Explicit Expenses are all those incurred to generate the sale.
As there is no Explicit cost. For accounting profit Calculation economists consider the best alternative as an Implicit cost. The best alternative option is $45,000
Economic Profit = $50,000 - 45,000 = $5,000
________ is the first step in the systems development life cycle (SDLC), which defines the business need for a project, assesses its importance to the company, and determines whether the project is feasible.
The 'Initiation' or 'Planning' phase is the first step in the Systems Development Life Cycle(SDLC). In this phase, a business need for a project is identified, its significance to the organization is evaluated, and the project's feasibility is assessed.
Explanation:The first step in the Systems Development Life Cycle or SDLC is referred to as the 'Initiation' or 'Planning' phase. During this initial phase, a business need for a new project is identified, its importance to the company is evaluated and feasibility of the project is assessed. Essentially, the potential benefits of the project are weighed against the potential challenges and costs, giving a holistic understanding whether to undertake the project or not.
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The first step in the SDLC is project initiation, which defines the business need, assesses importance, and determines feasibility.
Explanation:The first step in the systems development life cycle (SDLC) is project initiation. In this stage, the business need for a project is defined, the importance of the project to the company is assessed, and the feasibility of the project is determined.
During project initiation, the focus is on understanding the purpose, goals, and scope of the project. This involves gathering requirements, conducting feasibility studies, and evaluating potential risks and benefits. The decision to proceed with the project is based on a thorough analysis of the business need and its alignment with the company's objectives.
For example, if a company wants to implement a new customer relationship management (CRM) system, the project initiation phase would involve assessing the need for the CRM system, determining its strategic importance, and evaluating whether it is feasible within the company's resources and budget.
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Unstructured decisions are often used in _____. a. introducing a new product b. simple inventory problems c. record keeping d. capital acquisition analysis
Answer:
a. introducing a new product
Explanation:
Unstructured decisions are the decisions made on a case to case basis. There is no developed standard operating procedure on how to solve the issue. Unstructured decisions apply in unique and one-time situations.
Different decision-makers may offer varying solutions to the same problem in unstructured decisions. Decisions depend on the decision-maker's intuition, experience, and the information presently available. In unstructured decision- making, each situation presents unique challenges making it difficult to have a predetermined set of responses. Introducing a new product will involve making unstructured decisions as predicting the market reaction is not easy.
Statement that explains uses of Unstructured decisions is A:introducing a new product .
Unstructured decision making can be regarded as dynamic process which involves individual creating alternative as results of unavailable of a particular option. Though there may not be a known path to arrive at solution. This decision making can be utilised when introducing a new product.Therefore, option A is correct.
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McKenna offers to sell Lori her collection of hand-painted European tiles. Before Lori has a chance to accept, McKenna says, "Sorry, I changed my mind. I'm not going to sell the tiles." McKenna has just made:_______.1. Restitution2. A counteroffer3. A rejection4. A revocation
McKenna has just made: revocation.
Explanation:Revocation can be considered as a process of cancelling any decision or a promise officially. This is act that makes something that exists previously to be null or void. For instance someone has accepted to sell his property to someone and now he has the rights top revoke or cancel that declaration officially.
In the given example, McKenna offers to sell her hand painted European tiles to Lori. But the cancellation of this offer occurs before Lori accepted the offer. She says to Lori that she has changed her mind and not ready to sell those tiles. Hence the example is associated with revocation.
A company's competitive strength scores pinpoint its strengths and weaknesses against rivals and Select one: a. point directly to accepting the competitive strength scores on face value. b. suggest the company use its strengths to exploit its own competitive liabilities. c. point directly to the company to use its weaknesses as offensive moves to challenge rivals' weaknesses. d. suggest receptivity for astute companies to drive their operating practices if the strength scores are very low. e. point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities.
Answer:
e. point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities.
Explanation:
A competitive strength assessment is defined as a weighted comparism of a business's strengths and weaknesses compared to the competition. The knowledge gained can be used to improve on weak areas.
Competitive advantage is the traits that set a business aside and gives it an edge over others. Competitive strength assessment evaluates the competitive advantages of a company. Therefore it shows the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities.
Competing in the markets of foreign countries entails dealing with such factors except:_____. a) important country-to-country differences in consumer buying habits and buyer tastes and preferences. b) the prevalence of global brands. c) whether to customize the company's offerings in each different country market or whether to offer a mostly standardized product worldwide. d) fluctuating exchange rates, country-to-country variations in host-government restrictions and requirements, and variations in cultural, demographic, and market conditions. e) the fact that product designs suitable for one country are sometimes inappropriate in another.
Answer: b) the prevalence of global brands.
Explanation:
Competing in the markets foreign of countries entails dealing with dealing with such factors except the prevalence of global brands.when a company is competing in the Markets of foreign Country the prevalence of global brands is not the factor a company should be dealing with. Factors such as exchange rate fluctuations , country to country differences in consumer buying habits and preferences are factors a company deals with among other factors
Suppose a competitive market is comprised of first that face identical cost curves. The firms experience an increase in demand that results in positive profits for the firms. Which of the following events are then most likely to occur?
i. New firms will enter the market
ii. In the short run, price will rise; in the long run, price will rise further.
iii. In the long run, all firms will be producing at their efficient scale
Answer:
i. New firms will enter the market
iii. In the long run, all firms will be producing at their efficient scale
Explanation:
In the competitive market barriers to entry will be low as there is no monopoly. The firms in the market are experiencing increased profitability as a result of increased demand so the market will be attractive for new firms. This will result in new firms entering into the market. In the short run.
In the long run as more firms enter the market, the firm's will need to produce at efficient scales because of high competition, with the aim of minimising cost.