Answer: Business value
Explanation:
The business value is the term which refers to the all the organizational values such as integrity, innovation, passion, determination and the respect.
The business value is basically measured on the basis of monitory term and also depends upon the actual requirement of an organization. It is the process of total sum of all the tangible and the non tangible elements in the system.The following are are the different forms of the business value is an organization are as follows:
Managerial valueSupplier valueSocietal value Customer value
The hotel chain Ritz-Carlton employs the phrase "Ladies and gentlemen taking care of ladies and gentlemen" to demonstrate its cultural commitment to take care of both employees and customers. Which tool is Ritz-Carlton using to express its corporate culture?
a. The company is expressing its key corporate value with a slogan.
b. The company is using a ceremonial demonstration of its values.
c. The company is conveying the value of its employees with a story.
d. The company is illustrating its heroes with strong company values.
Explanation:
Option 1: This is the right answer. Slogan is the best possible and smart way to attract the customer and make the customer to understand about the organization ethics and what the customer can benefit out of the organization.
Option 2:
This is invalid because a company should more focus on employee than itself.
Option 3:
Employees are really important to the organization but customer bring business where employee and the organization gets benefited. So keep slogan based on customer is better than to appreciate only employees.
Option 4:
This is also invalid.
If Norman invested $100,000 for 3 years at 12%, how much interest on interest will he earn? (Do not round intermediate calculations. Round the final answer to two decimal places.)
Final answer:
Norman will earn an interest on interest of $4,492.80 over a period of 3 years on his $100,000 investment at a 12% annual interest rate, assuming annual compounding. This is calculated by subtracting the simple interest from the compounded amount.
Explanation:
Calculating Interest on Interest with Compound Interest
To calculate the interest on interest that Norman will earn, we need to use the formula for compound interest. The formula for the future value with compound interest is:
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 in years.
Since the student has not specified the compounding frequency, we'll assume that it is compounded annually for simplicity. So for Norman's investment of $100,000 at a 12% annual interest rate for 3 years, the compound interest calculation would be:
A = 100000(1 + 0.12/1)^(1*3)
A = 100000(1 + 0.12)^3
A = 100000(1.12)^3
A = 100000 * 1.404928
A = $140,492.80
The total compound interest earned would be $140,492.80 - $100,000 = $40,492.80.
To find the interest on interest, we must calculate the simple interest for the same period and subtract it from the compound interest earned. The simple interest would be:
Simple Interest = P * r * t
Simple Interest = 100000 * 0.12 * 3
Simple Interest = $36,000.00
Therefore, the interest on interest is:
Interest on Interest = Compound Interest - Simple Interest
Interest on Interest = $40,492.80 - $36,000.00
Interest on Interest = $4,492.80
The interest on interest Norman will earn over 3 years is $4,492.80, rounded to two decimal places as requested.
According to Karl Marx, workers in a capitalist economy are alienated from the product or products they produce because all of the above for the most part they could never afford to buy those products. specialization has them focusing on one small step in a complex production process. they have no part in conceptualizing those products.
Answer:
Living most of his life in Britain during the Industrialization period, Karl Marx noted that the only party who is benefiting from capitalism is Bourgeoisie (Those who own means of productions) not the Proletariat (workers who sell their labor for wages) as he looked at the society which was in contradiction, that is " In the country so rich, how could so many people be so poor ". He in that context blamed capitalism for creating alienation.
Explanation:
He defined Alienation as 'the experience of isolation and misery resulting from powerlessness'. Further, Karl Marx also noted that Proletariat (workers) are nothing more than a source of labor to the capitalist as they can be fired and hired at the will of those capitalists. And said that Capitalism has also made human a machine as they cannot learn much from it because they do sets of repeating similar tasks every day as from day 1 which is also nowadays referred to specialization (getting good at one skill) and results in dissatisfaction of workers and increase their powerlessness (the feeling that they have little or no control over their situation).
There are 4 types of alienation resulted from capitalism.
Alienation from products of work: Marx argued that as more efforts a worker put in manufacturing the particular product the more he gets away from it because the product which these workers produce doesn't belong to them they belong to the people who own the resources i.e Capitalists and they sell it to gain profit.Alienation from other workers: Since specialization has created a never-ending cycle of doing the same tasks everyday workers engage in them so deeply that they don't even realize that someone else is working as well in the same field. Workers don't have a sincere bond between them. A good example of this would a big factory where there are many departments and the worker of the marketing department doesn't get to know the worker in the management department.Alienation from human potential: As stated in the first paragraph that capitalism ruins the Gains of the job ( Learning, enjoying, satisfaction ) so the worker doesn't relate to it or is satisfied with it rather he is just fulfilling the requirement of the capitalist i-e producing. In result, he doesn't care for his health or just feels exhausted while trying hard to earn personal and little incentives. Alienation from the act of working: Since workers don't have any say in how to make, what to make, they are not satisfied with the way what they work and have become machines.According to Karl Marx, workers in a capitalist economy experience alienation from the products they produce because they have no involvement in conceptualizing them, specialize in one small step, and cannot afford to buy those products.
Explanation:According to Karl Marx, workers in a capitalist economy experience alienation from the product they produce. They are alienated because they have no involvement in conceptualizing those products, and specialization limits them to focusing on one small step in a complex production process. Moreover, the workers cannot afford to buy the products they produce. Marx believed that this alienation is a result of the commodification of labor in a capitalist society.
Managers often assume a strictly linear relationship between cost and level of activity. How can this practice be defended in the light of the fact that many cost are curvilinear?
Answer:
Its an interesting debate. We know that costs do not have any linear relation with activity level. This cost usually is curvy-linear but instead of using curvy-linear relation, we deem that the relation between cost and activity level is linear because it is fact that their are ranges of activity levels during which the fixed cost remains constant where as the variable cost increases with the increase in the activity level. Constant increase in Total variable cost is witnessed for every increase in level of activity which is in this relevant range.
For example
If we say that
Variable cost per unit is $6 from zero to 100,000 units
and
Variable cost per unit is $5 from 100,001 to 300,000 units
So this is dependant upon the level of activity. Another practical example is if we order above $100,000 raw material we will receive a bulk discount and the variable cost will drop to $5 per unit from $6 per unit.
Which accounting assumption or principle states that historical cost can lose relevance and other valuation methods may be more relevant to financial statement users?
A. recognition
B. accrual accounting
C. going-concern assumption
D. mixed attribute measurement model
Answer:
D. Mixed attribute measurement model
Explanation:
The mixed attribute measurement model is one which is used as a standard for measurement of the value of assets and liabilities under generally acceptable accounting principles.
Historical valuation helps to under the range or historical cost of an asset but this valuation, overtime, becomes old and obsolete. Although the historical valuation helps to provide basic and authentic information about the asset, because it is old, its valuation now has to be redone. To revalue an asset in the current economic condition, the Financial Accounting Standard Board, FASB, as well as International Accounting Standard Board, IASB, have continually developed accounting standards to value assets and liabilities using current value.
The current value of the asset and liabilities according to these boards are meant to be fair to both seller and buyer. According to these boards, the fair value of assets and liabilities is the amount that is required to exchange or take over or settle assets and liabilities as appropriate.
I hope this helps.
In a competitive market, a furniture company decides to use cheaper materials to decrease production costs and pass on the savings. This is an example of___________.
Answer:
Lowering the prices for customers
Explanation:
Competitive market is the market where there are many producers are competing with each other in order to provide or offer the goods and services needed to the consumer or customers.
So, in this market, the furniture company plans to use the cheaper materials in order to decrease the production costs and also pass the savings. This would be an example of the lowering or decreasing the price for the customers, which in turn increase the sales of the business.
Assume cash = $120, inventory = $470, accounts payable = $811, accounts receivable = $510, and total assets = $21,400. What is the current ratio?
Answer:
1.36 times
Explanation:
The computation of the current ratio is shown below:
Current ratio = Total Current assets ÷ total current liabilities
where,
Total current assets = Cash + inventory + account receivable
= $120 + $470 + $510
= $1,100
And the total current liabilities equal to account payable i.e $811
So, the current ratio would be
= $1,100 ÷ $811
= 1.36 times
The accrual basis of accounting is in accordance with GAAP (Generally Accepted Accounting Principles) because it best illustrates the ________ principle.
Answer:
matching
Explanation:
Accrual basis is a fundamental accounting concept that addresses the timing deference between when sales is made and the time payment is made. it states that all expenses must be recorded in the period in which they are incurred and all income recorded in the period in which they are earned irrespective of the period the expenses is paid or the period the income is received for such transactions.
Matching Principles is an accounting principles that gives expression to the accrual principles, it states that income must be matched against the expenditure that generated them.
The marginal benefit Bob gets from purchasing a third pair of gloves is Select one:_____.
a. the same as the total benefit he gets from purchasing three pairs of gloves.
b. less than the marginal cost of purchasing the third pair of gloves.
c. the total benefit he gets from purchasing three pairs of gloves minus the total benefit he gets from purchasing two pairs of gloves.
d. the total benefit he gets from purchasing four pairs of gloves minus the total benefit he gets from purchasing three pairs of gloves.
Answer:
d. the total benefit he gets from purchasing four pairs of gloves minus the total benefit he gets from purchasing three pairs of gloves.
Explanation:
Marginal benefits refer to the additional gains obtained by the sales, purchase, or manufacture of an extra unit. It the advantage associated with buying or selling one more unit. Marginal benefit is compared with the marginal cost to determine if continuous production is profitable.
Since marginal benefits are associated with an extra item, obtaining the value of the additional items must exclude the previous units. In this case, getting the marginal benefit of the fourth item can be calculated by adding up the gains of all the four gloves then subtracting the gains of the first three.
The marginal benefit Bob gets from purchasing a third pair of gloves is the total benefit he gets from purchasing four pairs of gloves minus the total benefit he gets from purchasing three pairs of gloves.
Explanation:The correct answer is d. the total benefit he gets from purchasing four pairs of gloves minus the total benefit he gets from purchasing three pairs of gloves.
Marginal benefit refers to the additional benefit derived from consuming or acquiring one more unit of a good or service. In this case, the marginal benefit Bob gets from purchasing a third pair of gloves can be calculated by subtracting the total benefit he gets from three pairs of gloves from the total benefit he gets from four pairs of gloves.
For example, let's say the total benefit Bob gets from three pairs of gloves is 30 units and the total benefit he gets from four pairs of gloves is 40 units. The marginal benefit of purchasing the third pair of gloves would be 10 units (40 - 30).
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For an imaginary economy, the value of the consumer price index was 140 in 2013 and 146.5 in 2014. The economy’s inflation rate for 2014 was:
Answer:
4.64%
Explanation:
The computation of the economy inflation rate is presented below:
= (Consumer price index in 2014 - Consumer price index in 2013) ÷ (Consumer price index in 2013) × 100
= (146.5 - 140) ÷ (140) × 100
= (6.5) ÷ (140) × 100
= 4.64%
We simply applied the above formula so that the economy’s inflation rate could come
A company's "macro-environment" refers to:
A. the industry and the competitive arena in which the company operates.
B. general economic conditions plus the factors driving change in the markets where a company operates.
C. the strategically relevant factors outside a company's industry boundaries—economic conditions, political factors, sociocultural forces, technological factors, environmental factors, and legal/regulatory conditions.
D. the competitive market environment that exists between a company and its competitors.
E. the dominant economic features of a company's industry.
Answer:
C. the strategically relevant factors outside a company's industry boundaries—economic conditions, political factors, sociocultural forces, technological factors, environmental factors, and legal/regulatory conditions.
Explanation:
A business' environment is usually categorized into the micro-environment and the macro-environment.
Micro Environment
This environment refers to elements or factors in an organisation's immediate or controllable environment that has the ability to influence their decision making and performance and this include the organisation's customers, employees, suppliers, intermediaries among others
Macro Environment
The macro environment however, refers primarily to a firm's external environmental elements and factors that are not within the control of the business but can significantly influence its performance and decision making process. As stated in the question they include economic conditions (inflation etc), political conditions (government policies), technological conditions (obsolescence of products or equipment), legal/regulatory conditions (government policies and bans) among others.
A registered person wants to set up an investment program for a charity and will not be receiving compensation for his service. Which of the following statements is TRUE?
Answer:
B) He is required to provide written notice to his broker-dealer.
Explanation:
Under self-regulatory organization (SRO) rules, if a registered person engages transaction involving private securities, he/she must provide a written notice to his firm. Even if their is no compensation involved, the firm still has the right to impose certain conditions regarding the participation of the registered person.
You are the manager of a firm producing green chalk. The marginal product of labor is:
MPL = 24L- 1/2
Suppose that the firm is a competitor in the green chalk market. The price of green chalk is $1 per unit. Further suppose that the firm is a competitor in the labor market. The wage rate is $12.00 per hour.
Given the information, what is the revenue product of labor?
Answer:
24L^- 1/2
Explanation:
Given that
Marginal product of labor is
MPL = 24L^- 1/2
Power sign is not given in the question so we considered it
The price of green chalk= $1 per unit
The wage rate = $12 per hour
By considering the above information, the revenue product of labor would be
= 24L^- 1/2
= Price of green chalk × 24L^- 1/2
= $1 × 24L^- 1/2
= 24L^- 1/2
Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial situation?
Answer:
Work out a plan with its financial intermediaries.
Explanation:
As mentioned in the question that Nguyen's Sporting Goods is having difficulty obtaining the credit, it needs to expand. The company should work out a plan with its financial intermediaries, in order to alleviate its financial situation. Because as we all know that a financial intermediary is a financial institution as well. So the company has to create a plan with there financial institution.
A proprietorship has three important advantages:______________.
(1) It is easily and inexpensively formed,
(2) it is subject to government regulations, and
(3) it is subject to lower income taxes than are
Complete/Correct Question:
A proprietorship has three important advantages:______________.
(1) It is easily and inexpensively formed,
(2) it is subject to government regulations, and
(3) it is subject to lower income taxes than are corporations
Answer:
True
Explanation:
A proprietorship is an unincorporated business owned by an individual. Starting a proprietorship business is easy to start and has it most important advantage stated above in the question. it also has its limitations and as such some sole proprietorship businesses have converted to corporations when the business limitations are too overwhelming.
The limitations of sole proprietorship includes unlimited liability for the business or debts it might incure, the life of the business is a function of the life span of the owner, inability to secure huge capital from banks,etc.
A sole proprietorship is therefore used for small businesses.
Cheers.
White Company manufactures furniture. Assume the following information:
1) Manufacturing overhead is allocated based on machine hours.
2) Manufacturing overhead is estimated to be $150,000 and machines hours are expected to be 10,000 hours.
3) The actual manufacturing overhead is $31,000 and there are 2,000 actual machine hours.
How much manufacturing overhead would White Company allocate?
Answer:
$30,000
Explanation:
Standard allocation rate = Estimated maufacturing overheads ÷ estimated machine hours
Standard rate = $150,000 ÷ 10,000 hours = $15 per machine hour
Actual overheads incurred = $31,000
Actual machine hours = 2000 hours
Overheads are to be allocated based upon predetermined/standard absorption rate being $15 per machine hour
Manufacturing overheads to be allocated = 2000 hours × 15 per machine hour
Manufacturing overheads to be allocated = $30,000
Brenda plans to reduce her spending by $50 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account and an annual interest rate of 3 percent.) Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)
To calculate the future value of Brenda's reduced spending over the next 10 years, we can use the formula for compound interest.
To calculate the future value of Brenda's reduced spending, we can use the formula for compound interest:
FV = PV * (1 + r) ⁿ
Where FV is the future value, PV is the present value, r is the interest rate, and n is the number of periods.
In this case, Brenda plans to reduce her spending by $50 a month, so the present value (PV) would be -$50. The interest rate (r) is 3% per year, and the number of periods (n) is 10 years. Plugging these values into the formula, we get:
FV = -$50 * (1 + 0.03) ¹⁰
Simplifying the equation gives us the future value of Brenda's reduced spending over the next 10 years.
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Farmer Ted sells winter wheat in a perfectly competitive market. The market price for a bushel of winter wheat is $9. Ted has two hundred and seventy bushels of wheat to sell. If his total variable cost is $2,000 and his total fixed cost is $500, then Ted ________
Answer:
Farmer Ted will receive $9 x 270 = $2,430
This amount does not cover all of Ted's costs = $2,000 + $500 = $2,500, but it helps Ted to minimize his losses.
In a perfectly competitive market, a supplier cannot set the price, they are all price takers. But suppliers will keep selling their products as long as the price exceeds variable costs. in this case variable costs = $2,000, therefore $2,430 exceeds them.
Ted will not make a profit, but he will minimize his losses because the other option of not selling anything will result in a net loss of $500, while selling at the current price results in a net loss of $70.
Jones Company obtains all of the common stock of Hudson, Inc., by issuing 50,000 shares of its own stock. Under these circumstances, why might the determination of a fair value for the consideration transferred be difficult?
Answer:
Sometimes it is not easy to determine the fair market value of stocks, for example:
If Jones is a recently created corporation and the 50,000 shares are their IPO. Jones might not be a publicly traded corporation, it might be a closely held corporation so there is no fair market valueIf the 50,000 shares represent a huge increase in the number of outstanding shares it might cause a great variation in the price Jones's stock might have experienced large fluctuations in recent timesetc.A form of property ownership in which the buyer receives a proprietary lease and a share of stock in a corporation that owns the fee simple interest in the property is called _________
Answer:
A shareholder (One who is in a cooperate business with another, in other words, a business partner-that form of business is called partnership.)
Explanation:
A shareholder (or stockholder) is an individual or company including a corporation that legally owns shares of stock in a joint stock company
When buying into a cooperative, the purchaser becomes a shareholder in the corporation (business) by virtue of stock ownership and receives a proprietary lease to the apartment for the life of the corporation (or business).
Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $8,100 at the end of ten years. Using the double-declining balance method, depreciation expense for 2022 would be:_______.
a. $21,600.b. $24,800.c. $36,000.d. $45,600.
Using the double-declining balance method, the depreciation expense for Kansas Enterprises' equipment for 2022 is $12,480, after applying a 20% depreciation rate to the book value at the beginning of the year.
The double-declining balance method of depreciation is an accelerated depreciation method, where double the straight-line depreciation rate is applied to the declining book value of the asset each year. To calculate the depreciation expense for Kansas Enterprises' equipment for the year 2022, we need to use the following formula:
Book value at the beginning of 2022Depreciation rate (which is double the straight-line rate)The equipment was purchased for $78,000, has a useful life of 10 years, and a residual value of $8,100. In the first year (2021), the straight-line depreciation expense would be ($78,000 - $8,100) / 10 = $6,990. The double-declining balance rate is (100% / 10 years) * 2 = 20% per year. For the first year, the depreciation expense would be 20% of $78,000, which is $15,600. This decreases the book value to $78,000 - $15,600 = $62,400.
For 2022, the depreciation expense would be 20% of the new book value, which is 20% of $62,400 = $12,480. Thus, the correct answer is:
Depreciation expense for 2022 is $12,480.
A lash adjuster keeps pressure constant on engine valves, thereby increasing fuel efficiency in automobile engines. the relationship between price (p) and monthly demand (d) for lash adjusters made by the wicks company is given by this equation: dequals=(2 comma 4002,400minus−p)/0.100.10. what is the demand (modifyingabove upper d with caretd) when total revenue is maximized? what important data are needed if maximum profit is desired?
Answer and Explanation:
Relationship between price and demand:
D = (2400 - p)/(0.100)
p = 2400 - 0.100*D
then:
Total revenue = p*D
= 2400*D - 0.100*D^2
for a maximum revenue:
dR/dD = 0
2400 - 0.100*2D = 0
D = 12000
this is considered a demand
for maximum profit, the initial cost of automobile engines should be less required.
The level of demand when demand when the total revenue is maximized is 12,000.
Relationship between the price and demand:
D = (2400 - p)/(0.100)
p = 2400 - 0.100*D
Total revenue = Price * Demand
Total revenue = 2400*D - 0.100*D^2
For a maximum revenue:
dR/dD = 0
Now we input the data
2400 - 0.100*2D = 0
2400 - 0.200D
0.2D = 2400
D - 2400 / 0.2
D = 12,000
In conclusion, the level of demand when demand when the total revenue is maximized is 12,000.
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As the CEO of a pharmaceutical company, Simone learned that the government was about to block the import of one of the company's biggest-selling drugs. She decides to sell her shares of stock before the information is made public. Since she used confidential information to make her decision, she is guilty of _____.
A. whistle blowingB. fair tradeC. insider tradingD. benchmarking
Answer:
The correct answer is (C)
Explanation:
Simone the CEO of a pharmaceutical company has sold company stock because of inside information. Any trade which results due to inside information is known as insider trading. Any information which is not public is known as inside information that leads to abnormal profits. Government, company owners and stock market officials are the ones who generally have such type of information.
The stock market is a market where shares are traded. These shares determine their value with the help of determinants like demand ,supply and other factors which result in the profits and losses for share traders.
Insider TradingWhen any person uses the inside material information to gain unfair advantage by selling , buying or trading in shares without that information being publicly available for others than it is said to be as insider trading.Insider trading is a punishable offence and is strictly prohibited by Securities Exchange Board Of India.Therefore the CEO was having and inside information about government policies and she used that information for gaining undue advantage, so can be said as guilty of insider trading, OPOTION C is correct.
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It is receiving $3,000/month from a disability income policy in which T's employer had paid the premiums. How are the $3,000 benefit payents taxable?
Answer:
T must pay income taxes for the $3,000 he receives.
Explanation:
If the beneficiary of the disability benefits paid the premiums, then the money received is tax free. On the other hand, if the premiums were paid by someone else (in this case his employer), then the benefits will be taxed as normal income.
You've asked an unclear question, the subject here is T.
Answer:
The benefits are taxable to T.
Explanation:
Note that, a disability income insurance policy provides a specific monthly benefits to insureds who are disabled as a result of injury or illness (disability).
Remember, also that T's employer had paid the premiums, and according to federal law if your an employer paid the disability insurance premiums, then the disability income is taxable to the employee (in this case T).
Stable alliance networks will most often:_______. a. be used to enhance a firm's internal operations. b. emerge in declining industries as a way to increase process innovations. c. appear in mature industries where demand is relatively constant and predictable. d. emerge in industries with short product life cycles.
Answer and Explanation:
c. appear in mature industries where demand is relatively constant and predictable
Debra, the vice president of sales and marketing, evaluates Theo Chocolate's performance based on the
company's ability to meet a triple bottom line which values:
A. people, profit, and the planet in equal measure.
B. people first, then profit and the planet.
C. product, price, and place in equal measure.
D. assets, liabilities, and owner's equity.
E. profit first, then people and the planet.
Answer:
A. people, profit, and the planet in equal measure.
Explanation:
Debra, the vice president of sales and marketing, evaluates Theo Chocolate's performance based on the company's ability to meet a triple bottom line which values: people, profit, and the planet in equal measure.
This 3Ps points to the concept of triple bottom line reporting in accounting
Triple bottom line reporting is an accounting reporting framework which majors on three aspects: social, environmental (or ecological) and financial.
In the above definition, 'social' relates to 'people'; 'financial' relates to 'profits' and 'social' relates to 'planet'
Organizations who adopt the Tripple Bottom Line, do so to evaluate business performance in other ways other than finance in order to create greater business value.
Katie is planning to sell her house, and she is considering two upgrades to the house before listing it for sale. Replacing the carpeting will cost $6,000 and replacing the roof will cost $12,000. Katie expects the the new carpeting will increase the value of her house by $7,000 and the new roof to increase the value of her house by $10,000A. She should replace the roof but not the carpeting. B. She should not make either improvement to her house. C. She should make both improvements to her house. D. She should replace the carpeting but not the roof.I said D. Am I wrong? Either way if im wrong or right can some explain it to me?
Answer:
D. She should replace the carpeting but not the roof.
Explanation:
Consider the following steps;
Step 1: Determine net value if she replaces the carpeting alone
Net value=Initial value+added value-carpeting cost
where;
Initial value=unknown, assume to be 0
added value=$7,000
carpeting cost=$6,000
replacing;
Net value=0+7,000-6,000=$1,000
Step 2: Determine net value if she replaces the roof
Net value=Initial value+added value-roof replacement cost
where;
initial value=assumed to be 0
added value=$10,000
roof replacement cost=$12,000
replacing;
Net value=0+10,000-12,000=-$2,000
Roof replacement will reduce the house value by -$2,000
Step 3: Determine net value if she decides to do both
Net value=net value for carpeting+net value for roofing
where;
net value for carpeting=$1,000
net value for roofing=-$2,000
replacing;
Net value=1,000+(-2,000)=-$1,000
If she decides to consider the two upgrade the house value will reduce by -$1,000
Step 4: Take the choice with the best value
The most valuable option would be to consider replacing the carpeting alone. By doing this, the value of the house rises by $1,000
Your assistant wants to use secondary data exclusively for the current marketing research project. You advise him that the use of secondary data has some potential problems. Which of the following is NOT one of them?
A) It may not exist.
B) It may not be relevant.
C) It may not be impartial.
D) It is generally more expensive to obtain than primary data.
E) It may not be current.
Answer:
D) It is generally more expensive to obtain than primary data.
Explanation:
A) It may not exist.
Problem. Primary data may not yet be available due to its sensitivity of the primary data.
B) It may not be relevant
Problem. Published data may not be applicable to your region. For example published data for Asia might not be applicable to Africa.
C) It may not be impartial.
Problem. Primary data used to create the secondary data might not treated all rivals equally.
D) It is generally more expensive to obtain than primary data.
Not a problem. Secondary data is not expensive as compared to primary data.
E) It may not be current.
Problem. Primary data collected might be out of date thus can not be used recent decisions as many things would have changed.
The use of secondary data has some potential problems, but cost is not one of them.
Explanation:The answer option that is NOT one of the potential problems of using secondary data exclusively for a marketing research project is D) It is generally more expensive to obtain than primary data.
Secondary data refers to information that has been collected by someone else for a different purpose. While using secondary data has some potential problems, such as it may not exist, it may not be relevant, it may not be impartial, and it may not be current, cost is not typically one of them. In fact, secondary data is often less expensive to obtain compared to primary data, which requires collecting new data through surveys, experiments, or observations.
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Which type of labor does the following definition describe: "Consists of workers with higher investments in education and training who operate complex equipment and perform most of their tasks with little supervision."A. Unskilled LaborB. Semi Skilled LaborC. Professional LaborD. Skilled labor
Answer:
D. Skilled labor
Explanation:
Skilled labor refers to the type of the workforce who are specialized in terms of know-how, experience and training to perform the complex physical, and or mental tasks.
The Skilled labors are characterized as the labor having following attributes:
Higher education, Expertise training and experienceThe skilled labor tends to seek higher wages.
Making ethical decisions takes moral awareness, moral judgment, and moral character. Define each term and explain how you would use it in business.
Answer:
Ethical decision-making requires moral conscience to understand that the problem has consequences.Moral judgment about understanding what morally acceptable acts are.Moral character, despite challenges, for the strength and persistence to act in accordance to your morality.Explanation:
Moral awareness is the ability to understand and acknowledge the socially responsible characteristics of someone's decision.Moral judgments apply to assessments with moral value; they can be used to assess situations, path to take, individuals, actions, etc. A subject of some metaphysical disagreement is the foundation of moral judgement. Many claim that the moral decisions are founded on experience or thought, sometimes linked to the emotions.Moral character is the nature of qualities such as dignity, bravery, power, sincerity and fidelity or lack thereof.
Moral awareness is recognizing ethical issues and their impacts, moral judgment involves making decisions that align with ethical principles. Moral character requires the resolve to act in line with these judgments, even if it's difficult. These concepts are applied in business to develop equitable, fair, and sustainable practices.
Explanation:The terms moral awareness, moral judgment, and moral character are all critical components of making ethical decisions in a business context.
Moral awareness is the ability to identify moral issues and understand their ramifications in a decision-making context. In business, this would mean understanding the wide-reaching effect of decisions, such as how a decision to cut costs might impact employee welfare or environmental sustainability.
Moral judgment relates to making decisions that align with ethical principles. In business, you would use your moral judgment to make decisions that are not just legally correct but also fair, equitable and beneficial for all stakeholders.
The moral character refers to the strength and resolve to stand by ethical principles, even when it might be easier or more profitable not to. In a business context, a strong moral character might mean deciding not to engage in a lucrative but unethical practice, such as using child labor.
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