Answer:
Explanation:
95 % shows the level of certainty at which the studied respondent's answers would be certain with investigated issue. Say, if you want to investigate how raise in the price affects the sales. So, 95% confidence interval tells you how confident you can be that the results from a poll or survey reflect what you would expect to find if it were possible to survey the entire population.
The foundations of modern manufacturing and technological breakthroughs were inspired by the creation of the mechanical computer by:
A) Charles Babbage
B) James Watt
C) Eli Whitney
D) Frederick Taylor
Management accounting information of a company is primarily used by: Multiple Choice a) its customers to understand the pricing of a product. b) its investors to make investment decisions. c) its creditors to understand the credibility of the business. d) its employees to plan and control operations.
Answer:
d). it's employees to plan and control operations
Explanation:
Management accounting, as the name suggests refers to analysis of cost of production and identifying and correcting those areas which increase the cost of production and presentation of this information to the management so as to take important decisions.
Management accounting aims at cost reduction without compromising the quality of products. It focuses upon optimal utilization of resources and efficiency.
The end users of management accounting information are the employees and the management itself.
Thus the objective of presentation and disclosure of such costs is to plan and control operations more efficiently.
In order to avoid project delays, project managers confronted with a resource overload will seek to delay some of the noncritical activities by an amount no more than their slack period, to level the demand for that worker.
a. True
b. False
Answer: True
Explanation:
When a project manager is confronted with resource overload, an activity that is not on the critical path can be delayed in order not to unnecessarily delay the project. The non-critcal activities can be delayed than an amount no longer than the slack period. This levels demand for that worker.
During which phase of the hype cycle, developed by Gartner Inc., does interest wane as experiments and implementations fail to deliver on the hype of the peak?
Answer:
Trough of disillusionment
Explanation:
The five overlapping stages in a technology hype cycle are:
Innovation Trigger : the possibility of technological breakthrough, implementation of the technology startsPeak of Inflated Expectations: success stories start to multiply, as well as failures, but nothing concrete. Trough of Disillusionment : If experiments and implementation continue to fail, interest wanes and producers tend to shake out or fail.Slope of Enlightenment : the potential benefits of the technological breakthrough start to multiply, other producers try to imitate the technology .Plateau of Productivity: technology starts to be adopted by the mainstream marketAnswer:
Disillusionment
Explanation:
Trough of Disillusionment: Interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.
Jameson manages a well-known cell phone company. This company has been voted as having the best cell-phone service. Consumers appreciate the fact that they can call from almost anywhere in the world and the service still gets through. Jameson knows that the company's product far surpasses that of the competition. One thing has been bothering him, though. In order to put so many resources into ensuring the best service, Jameson has cut back on employees at the firm's customer call center. Recently, consumers have begun complaining about long wait times when they call in with a problem or concern. Although its cell phone service is still considered one of the best, customer satisfaction with the firm's customer service has plummeted. Jameson does not understand why consumers are getting so upset. He believes the exceptional cell phone service more than makes up for long waiting periods and other issues with its customer service. "After all," he says, "They can't have it all. If I invest more in customer service, that means less investment on ensuring the quality of our product offering."
Refer to Scenario 1.1. Jameson has asked you, a marketing consultant, to give him advice. He cannot understand how a cell-phone company with the best product offering in the cell-phone service industry could get such low satisfaction ratings simply because the customer service is not up to par. You suggest that Jameson has a narrowly defined view of the company's product offering. You tell Jameson that successful marketers should define their products as what they ___________________.
Answer:
C) do to satisfy customers
Explanation:
The problem with customer satisfaction is that customers are never completely satisfied. Customers will always demand more and better services and goods for their money. There is also something very important that Jameson is not considering, in marketing nothing makes up for something. If you offer a great product, but a bad customer service, your customers will grade your product depending on the customer service, not on how great it is as a product.
For example, before a few car manufacturers offered one year warranties against defects, then other manufacturers started offering two year warranties, then three years, then five, now some even offer eight year warranties and lifetime warranties for the car's powertrain. And these changes in corporate warranty policies happened in about 20-25 years.
Competition is extremely fierce right now and customer loyalty is obsolete, so companies must perform almost perfectly and even then some customers will still complain because they want more.
Loran calls Russ and asks, "Did you finish the Wilson report?" Russ responds, "Yes, I just finished it. I’ll send it to you in a few minutes." Russ quickly finishes the report, which he had actually forgotten. He e-mails it to Loran about 30 minutes later. Russ lied to Loran.
Answer:
she lied because she told him that she just finished it
Explanation:
but didn't lie that she would send it in 30 minutes later
An increased focus on health and wellness has resulted in a number of new business ideas including healthier foods and beverages, yoga instruction and training centers, and nutrition consulting. An increased focus on health and wellness is an important ________ that is creating opportunities in many areas for entrepreneurial firms.
A) economic force
B) regulatory force
C) legal force
D) technological advances
E) social force
Answer:
E) social force
Explanation:
An increasing number of people spend more time and money on fitness, and more businesses are recognizing the benefits of health and fitness programs and other services such as wellness programs
A production possibilities frontier identifies the dollar cost of producing a good or service in an economy. True or False
Answer:
A production possibilities frontier identifies the dollar cost of producing a good or service in an economy.
True
Explanation:
Cost of producing could be envisaged through budgeting where the variable cost, fixed cost and total cost is expected to be calculated either through rough estimate.
What term is used to describe a type of purchasing arrangement where a seller holds an item for the buyer and allows the buyer to pay it off in a series of payments?
Answer:
LayawayExplanation:
A system of paying a deposit to secure an item for later purchase.
When trying to assess your economic well-being you should:
A. Compare your situation to that of most of people alive today
B. Compare yourself to Donald Trump
C. Compare yourself to your neighbors
D. Compare yourself to your parents
E. Not compare yourself to others because that is foolish
Answer:
The correct answer is A
Explanation:
Economic well being is described or states as having the future as well as the present financial security. It involves the ability to make the choices of the economic and have a sense of satisfaction, security and the personal fulfillment with the one's employment pursuit and the personal finances.
So, in order to assess or evaluate the economic well being, one should compare the situation of his or her economic well being with that of most of the people who are alive today.
To assess your economic well-being, it is best to compare yourself to your neighbors or people in similar situations. This approach, supported by social comparison theory, provides a more realistic measurement of your status. Option C is the most appropriate choice
When trying to assess your economic well-being, it is generally advised to compare yourself to people who are similar to you in terms of socioeconomic status, geography, or community. This concept is known as social comparison theory.
Comparing yourself to people who are in a vastly different situation, such as Donald Trump, can lead to unrealistic expectations and feelings of inadequacy. Therefore, among the options given, option A, comparing your situation to most people alive today, might seem reasonable, but it is more practical to make comparisons with those around you, as indicated in option C, comparing yourself to your neighbors. This method of social comparison helps you gauge your status more accurately within a context that closely relates to your own.Period costs a.are used to compute product cost. b.are selling costs and administrative costs. c.are carried in inventory until the goods are sold. d.can be included in overhead costs.
Answer:
b. are selling costs and administrative costs.
Explanation:
A period cost consists of cost that do not fall under the category of fixed assets, payments in advance, or inventory. It is not that related to transactional event but highly related to the passage of time. A period cost is therefore recorded in the income statement as part of the selling and administrative expenses.
Some of the examples of period costs are utilities, rent, office supplies, stationery, depreciation of office equipment and others which are categorized as selling costs and administrative expenses.
Hayley, a restaurant manager, has been observing and analyzing the work process of the cooks, servers, and bussers because she would like to increase their productivity. Hayley is engaging in ____ management.
a. quantitative.
b. systems.
c. contingency.
d. scientific
Answer:
d. scientific
Explanation:
Scientific management is a management philosophy where repeatable patterns of activity are analyzed and synthesised.
The prime objective is to strengthen market efficiency, particularly the efficiency of labour.
Hayley analyzes, there uses science, to try and boost workflow.
It was among the first efforts to introduce research to system engineering as well as to management.
Scientific management, after its author, Frederick Winslow Taylor, is sometimes known as Taylorism.
Rufus, a supervisor at an automobile store, is considered friendly by his subordinates and has the authority to assign important work to high performers under his wing. But he does not chalk out clear objectives for his workers. According to Fiedler's contingency leadership theory model, which of the following leadership styles should Rufus follow in order to be a better leader?
a. Task-oriented
b. Relationship-oriented
c. Power-oriented
d. Team-oriented
Answer:
a. Task-oriented
Explanation:
Since Rufus, is already considered friendly by his subordinates and has the authority to assign important work to high performers under his wing, with the only limitation being that he does not chalk out clear objectives for his workers. According to Fiedler's contingency leadership theory model, the leadership styles that Rufus should follow in order to be a better leader is Task-oriented leadership.
The reason for the above suggestion is that Task-oriented leaders are focused on getting the job done and achieving set goals. These category of leaders are not as bothered about employees as they are about developing clear objectives required for achieving tasks meeting goals.
Suppose your bank lowers its minimum balance requirement to get free checking by $500. So you take $500 out of your checking account and put it into your savings account. What is the overall effect on M1 and M2?
M1 falls by $500, M2 rises by $500.
M1 falls by $500, M2 is unchanged.
M1 is unchanged, M2 is unchanged.
M1 is unchanged, M2 rises by $500.
Answer:M1 is unchanged, M2 rises by $500.
Explanation:
Checking account is included in both M1 and M2 unlike savings account which only falls in M2 category. M2 category is less liquid which includes cerificates of deposit etc. M1 only includes money in your possession and public circulation.
fundamental problem in international economics is how to produce5)A)a counter-cyclical monetary policy so that all countries will not be adversely affected by afinancial crisis in one country.B)a worldwide form of currency.C)a perfect degree of monetary harmony.
Answer:
D) an acceptable degree of harmony among the international trade policies of different countries
Explanation:
One of the greatest successes of the World Trade Organization was to decrease trade barriers between countries and increase international trade. Globalization is the main result of implementing successful trading policies between nations. Whether some politicians or some people like it or not, the world has shrunk and almost every government in the world encourages greater trade.
When the government attempts to influence the amount of savings and expenditures by altering the tax structure it is using _______ to offset the effects of a recession or depression.
Answer:
The answer to this question is fiscal policy
Explanation:
Fiscal policy is the use of income and expenditure instruments or policies to control or regulate the economic activities of a country. It is a plan action by the government regarding to the raising of revenue through taxation and the pattern of expenditure to be applied.
A good fiscal policy can help in Economic growth and development, control of inflation and also help in income redistribution.
Expansionary fiscal policy is where government spending is increased and tax is cut to increase aggregate demand. More government spending means more economic activity and usage of public and merit goods and less taxation means more money for consumers to buy products and less prices for products.
Contractionary fiscal policy is where government spending is cut and tax is increased to reduce aggregate demand. Less government spending will reduce economic activity and high taxes will result in higher prices and less disposable incomes for consumers. This will make a reduction in aggregate demand
At the end of a project, a firm's investment has a salvage value of $4 million. The firm will pay taxes of $.5 million on the sale of the equipment from the investment. What is the net cash flow to the firm?
Answer:
Net cash flow to the firm = Expected salvage value at the end of project - Taxes paid on sale of equipment by the firm
= $ 4 Million - $ 0.5 Million
= $ 3.5 Million
Explanation:
Refer to the answer.
Please note that in order to find the net profit and loss at the time of equipment sale accumulated depreciation needs to be calculated till the time of sale. We can find the net book value of the asset at the time of sale by deducting the depreciation from the equipment balances in each year till the time of equipment sale. The net book value is then compared with the expected salvage value to find the net profit/loss in the sale transaction.
Kellen is on the cross-country team at his college. His coach invited a dietitian to speak to the team about nutrition for optimal performance. One of the topics she covered was phytochemicals. What is the best way to obtain the potential benefits of phytochemicals?
To gain the potential benefits of phytochemicals, one should consume a diet rich in various fruits, vegetables, whole grains, and legumes, which are all phytochemical-rich foods. Dietary supplements containing phytochemicals should not replace this balanced diet.
Explanation:The optimal way to obtain the potential benefits of phytochemicals is through consuming a diet rich in a variety of fruits, vegetables, whole grains, and legumes. Phytochemicals are compounds found in plants that have been found to have health benefits such as reducing inflammation and helping to prevent chronic diseases like heart disease and cancer.
Here are some examples of phytochemical-rich foods include:
Vegetables: kale, spinach, broccoli,Fruits: berries, oranges, grapes,Whole grains: brown rice, quinoa,Legumes: lentils, chickpeas.It's important to note that while dietary supplements may contain phytochemicals, they should not replace a balanced, nutrient-rich diet as the primary source of nutrition.
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The best way to obtain the potential benefits of phytochemicals is by consuming a diverse and balanced diet rich in fruits, vegetables, whole grains, legumes, and nuts. Phytochemicals are natural compounds found in plant-based foods that offer various health benefits.
By incorporating a wide variety of colorful fruits and vegetables into one's diet, individuals can ensure they receive a broad spectrum of phytochemicals, each with its unique advantages. These compounds help protect against chronic diseases, boost the immune system, and enhance overall performance, making them especially valuable for athletes like Kellen.
Phytochemicals, also known as phytonutrients, are biologically active compounds found in plants. They are not essential nutrients like vitamins and minerals, but research suggests that they offer a range of health benefits. Phytochemicals have antioxidant and anti-inflammatory properties, which can help reduce the risk of chronic diseases and enhance overall health.
To obtain the potential benefits of phytochemicals, it's essential to consume a wide variety of plant-based foods. Different fruits and vegetables contain various phytochemicals, often giving them their vibrant colors. For example, lycopene in tomatoes, flavonoids in citrus fruits, and polyphenols in berries all provide unique advantages. By incorporating a colorful array of fruits and vegetables into the diet, individuals can maximize the potential benefits of phytochemicals.
Furthermore, whole grains, legumes, and nuts also contain phytochemicals, so diversifying one's diet to include these foods is equally important. The synergy of various phytochemicals from different sources can help protect against chronic diseases, improve immune function, and ultimately support optimal performance, which is particularly relevant for athletes like Kellen. In conclusion, the best way to harness the potential benefits of phytochemicals is through a balanced, plant-rich diet.
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Barton Industries has operating income for the year of $3,500,000 and a 36% tax rate. Its total invested capital is $20,000,000 and its after-tax percentage cost of capital is 8%. What is the firm’s EVA?
Answer:
Economic value added = $640,000
Explanation:
given data
operating income = $3,500,000
tax rate = 36% = 0.36
total invested capital = $20,000,000
cost of capital = 8% = 0.08
solution
we get here EVA ( Economic value added) that is express as
Economic value added = Net Operating Profit After Taxes - Investment × WACC ..................1
here net Operating Profit After Taxes = $3,500,000 × (1 - 0.36)
net Operating Profit After Taxes = $2,240,000
so from equation 1
Economic value added = $2,240,000 - $20,000,000 × 0.08
Economic value added = $2,240,000 - $1,600,000
Economic value added = $640,000
Final answer:
Barton Industries' Economic Value Added (EVA) calculation involves subtracting the cost of capital from the net operating profit after taxes (NOPAT). After applying the 36% tax rate to the operating income of $3,500,000, the NOPAT is calculated to be $2,240,000. Subsequently, the cost of capital ($1,600,000) is subtracted from the NOPAT to find the EVA, which is $640,000.
Explanation:
To calculate Barton Industries' Economic Value Added (EVA), we need to determine the net operating profit after taxes (NOPAT) and then subtract the cost of capital from the NOPAT. First, we calculate the NOPAT by applying the tax rate to the operating income:
Operating Income = $3,500,000
Tax Rate = 36%
NOPAT = Operating Income × (1 - Tax Rate)
NOPAT = $3,500,000 × (1 - 0.36)
NOPAT = $3,500,000 ×0.64
NOPAT = $2,240,000
Next, we calculate the annual cost of capital:
Total Invested Capital = $20,000,000
After-tax Percentage Cost of Capital = 8%
Cost of Capital = Total Invested Capital × After-tax Percentage Cost of Capital
Cost of Capital = $20,000,000 × 0.08
Cost of Capital = $1,600,000
Finally, we calculate the EVA:
EVA = NOPAT - Cost of Capital
EVA = $2,240,000 - $1,600,000
EVA = $640,000
Thus, Barton Industries' EVA is $640,000 for the year.
Frank, a marketing manager, has often noticed that his team members do not communicate with each other and are rarely present for team meetings. He also noticed that his team's productivity is considerably low. This scenario illustrates that Frank's team lacks _____.
Answer:
Cohesiveness
Explanation:
The measure of the level of unity in a group or team is called cohesiveness. It is a measure of how communicative the members of a team are. It describes the linking bond among them that makes them act as a team.
Cohesiveness is important because it also affect the extent to which members of a team are committed to working with centrally defined strategies and decisions. A cohesive team is a team that with increased morale and it also helps to boost productivity.
The feeling of being part of something big helps highly cohesive teams to achieve great job performance.
The lack of cohesiveness in Frank's team is evident in the low level of communication as well as the low level of productivity.
Market commonality is concerned with the number of markets with which the firm and a competitor are jointly involved and the degree of importance of the individual markets to each.
Market commonality is concerned with the overlap and importance of markets for competing firms. It helps analyze competition and collaboration opportunities between companies. Therefore, the given statement ios true.
Market commonality is concerned with the number of markets with which the firm and a competitor are jointly involved and the degree of importance of the individual markets to each.
It involves analyzing the overlap and significance of markets in order to understand the level of competition and potential collaboration between firms in those markets.
For example, if two companies compete in multiple markets and those markets are highly important to both companies, it indicates a high market commonality.
Therefore, the given statement "Market commonality is concerned with the number of markets with which the firm and a competitor are jointly involved and the degree of importance of the individual markets to each" is true.
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Market commonality refers to the shared markets between a firm and its competitors and their importance to each firm. This concept is gaining relevance with the increasing globalization and interconnectedness of markets. It also plays a crucial part in shaping a company's strategy and preparedness in face of competition.
Explanation:Market commonality refers to the number of markets in which a firm and its competitors are jointly involved, and the extent to which these markets are significant to each firm. This concept is relevant to the field of business due to the growing intersectionality and interconnectedness of global markets. This interconnection can be a boon or a challenge to a firm, contingent on its capability to compete in an international marketplace.
With increasing competition from diverse and distant geographies, the definition of markets has been broadening. However, this expansion doesn't necessarily ease the role of antitrust authorities. Companies with regional or national monopolies could potentially expand their outreach across borders, making it difficult for national authorities to exercise control. This highlights the challenges and implications of market commonality.
In a perfect competition scenario, where there are numerous sellers, easy entry and exit for firms, identical products, and price-taking sellers, market commonality still plays a role. It helps determine an organization's decision-making strategy and its preparedness to face competition.
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Suppose equilibrium savings equals $750 billion, and equilibrium GDP equals $3,500 billion. Investment spending rises to $900 billion, and equilibrium level of real GDP increases by $500 billion. Assuming everything else remains constant, the value of the spending multiplier is?
Answer:
Multiplier = 3.33
Explanation:
Investment / Spending Multiplier denotes increase in Income multiple times increase in causal Investment.
Multiplier = Change in Income / Change in Investment = 1 / 1 - MPC
M = ΔY/ΔI = 1/ (1-MPC)
At Equilibrium, Investment = Savings = 750. Change in Investment = 900 - 750 = 150. Change in Income = 500.
M = 500/150 = 3.33
3.33 = 1/(1-MPC)
MPC = 0.70
Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him? The sales price of a car is $12,590, whic
Answer:
The cost price of the statue is $ 496
Explanation:
Sale Price of statue = $ 670
Suppose the cost price is $ 100 then according to the given condition the sales price would be $ 135
Sale Price = Cost Price + Profit
135= 100 +35
Applying ratios
Sale Price Cost Price
$670 x
135 100
Using cross product rule
x= $670 * 100/135
x= $ 496.29
A CPA can accept a gift from a client as long as:
Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
Adequate internal controls exist in the client entity to ensure gifts are made without any pre-conditions
The amount is below what is considered to be a material payment
Audit services are not provided to the client
Answer:
A:Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
A CPA can accept a gift from a client if there are safeguards against potential threats to their professional integrity and objectivity, and if the gift's value is not considered a material payment that could influence their professional judgment. It's more restricted when the client is an audit client.
Explanation:According to the Code of Professional Conduct for certified public accountants (CPAs), a CPA can accept a gift from a client under certain conditions. Primarily, there must be adequate safeguards in place to prevent any threats to compliance with the 'Integrity and Objectivity' rule. This rule ensures that CPAs maintain their professional independence and do not allow gifts to influence their professional judgment. Secondly, the amount of the gift must not be considered a 'material payment', a term that typically refers to a substantial amount that could potentially influence the CPA's professional opinion. Importantly, if the client is an audit client, accepting a gift may be prohibited or heavily restricted to maintain the CPA's independence and objectivity.
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Myra provides accounting services as an independent contractor for Great Northern. Because of this relationship, Great Northern is responsible for withholding and paying Myra's employment taxes, including federal unemployment compensation (FUTA), Social Security (FICA) and FICA excise tax.
a) true
b) false
Final answer:
The statement is false because Myra, as an independent contractor, is responsible for her own employment taxes, including FUTA, Social Security (FICA), and Medicare contributions. Great Northern is not responsible for withholding or paying these taxes on behalf of Myra.
Explanation:
The statement about Myra, an independent contractor, is false. As an independent contractor providing accounting services to Great Northern, Myra is responsible for her own employment taxes, not the company. According to tax laws, independent contractors receive a 1099 tax statement and must pay both the employee and employer sides of payroll taxes, which includes Federal Unemployment Tax Act (FUTA), Social Security (FICA), and Medicare contributions.
Employment taxes for FUTA are paid by the employer and not withheld from an employee's wages, which means Myra, as an independent contractor, would need to handle this tax on her own. The same applies to FICA taxes, where typically an employer would withhold Social Security and Medicare taxes from an employee's wages and also pay a matching amount. However, since Myra is an independent contractor, she would be responsible for the full contribution, covering both the employee and employer shares, often referred to as self-employment tax.
Mary sets a target for the project budget during the planning phase. While executing the project, she checks to make sure she is within budget. Mary determines that she needs to refine the scope of the project and change her timeline and costs for the project activities. Mary is using which tool to manage the cost of this project?a. cost performance baseline
b. cost of quality
c. funding limit reconciliation
d. vendor bid analysis
Answer:
d. vendor bid analysis
Explanation:
Vendor bid analysis -
It is the type of method , which helps to find out the cost of a project by comparing the bids that are submitted by other suppliers , is referred to as vendor bid analysis.
This method require cots like , proposals , bids and quotes etc.
Hence , from the given scenario of the question,
The correct option from the question is ,
d. vendor bid analysis .
A local restaurant has estimated that the price elasticity of demand for meals is equal to 2. If the restaurant increases menu prices by 5%, they can expect the number of customers to decrease by ________and total revenue to ________.
Answer:
Explanation:
ed= 2 , Price increase by 5%.
Elasticity of Demand = % Change in Quantity demanded/ % change in price
% change in quantity demanded = 2*5%=10%
Since, the elasticity > 1 and price has decreased, the total revenue will decrease. The impact of price change on Total revenue is based on the relationship between elasticity of demand and Total revenue.
Thus, there will be 10% fall
Final answer:
With a price elasticity of 2, a 5% price increase will result in a 10% reduction in number of customers and a decrease in total revenue. The price elasticity between the price points of $18 to $16, with an increase in quantity demanded from 450 to 500 meals per day, is calculated to be 1, indicating that total revenues will remain unchanged.
Explanation:
Given that the price elasticity of demand for meals is equal to 2, if the restaurant increases menu prices by 5%, they can expect the number of customers to decrease by 10% (twice the percentage change in price due to the elasticity value of 2). As for total revenue, since the price elasticity of demand is greater than 1, indicating an elastic demand, we can expect total revenue to decrease as a result of the price increase.
When calculating the price elasticity of demand between the two points where the price of a meal is reduced from $18 to $16 and the quantity demanded increases from 450 to 500 meals per day, we use the formula:
Elasticity = (Percentage Change in Quantity Demanded) / (Percentage Change in Price)
Calculating the percentage changes:
Quantity demanded increases by 50 meals, which is (50/450)*100 = 11.11%Price decreases by $2, which is (2/18)*100 = 11.11%Therefore, the elasticity between these points is:
Elasticity = 11.11% / 11.11% = 1
This elasticity value of 1 indicates unitary elasticity, meaning the percentage change in quantity demanded is equal to the percentage change in price. As a result, we would expect total revenues to remain the same when reducing the price from $18 to $16.
The process of asking questions of a speaker based upon responses with the goal of uncovering the truth is:
a. Cross examination
b. Refutation
c. Rebuttal and response
d. Socratic questioning
Answer:
d. Socratic questioning
Explanation:
Socratic questioning -
After the work of Socrates , Socratic questioning was developed .
According to this ,
As socrates developed an educational method , which focus to develop and discover answer by asking various students , some questions ,
Hence , by this method of asking question,
The person can get ideas about various new factors and ability of the person.
Hence , from the question,
The correct option is d. Socratic questioning .
A project charter is most likely developed in which project management process group?
a. Definition of activities.
b. Initiating.
c. Planning.
d. Defining scope.
Answer: Initiating
Explanation: A project charter also called project definition or project statement is developed in the initiating phase which is the first phase and indicates the start of a project management cycle. It explains the project at hand, if the impending project is achievable, the purpose of the project and the project charter which is the main output of the initiating phase defines what is required, the scope and objective of the project.
Ultimately, this integrated document becomes the overall document that the project references as its plan. It becomes the baseline to measure any performance against.
The Project Management Plan is a cumulative document that contains all the documents used in the project management approach on the project. It describes steps associated with executing, monitoring and controlling, and closing the project. It could be at a summary or detailed level depending on the need for the project.
It describes steps associated with executing, monitoring and controlling, and closing the project!
Answer: The five phase involved in the project management plan which are project initiation, project planning, project execution, project performance / monitoring, project closure.
Explanation:
Project management plan can be define as the process of formulating a programme to guide the definite course of action about a project.since the question is not so specific i think the question is talking about phase involved in executing ,monitoring and closing a project.The project management plan involved the following steps in project execution, monitoring and closure,
Project initiation : This phase mark the beginning of the project, at this stage a study will be conducted in order to determine the viability of the project. If at the end of the study the result gave a green light that they can actually carry on with the project then they will move to the next stage of the project .
Project planning : This is the phase at which a detailed guide to the course of action about the project will be put in place. It shows what should be done and how it will be done in order to achieve the desired objective of the project.when the plan is in place then they will move to the next stage
Project execution :This is stage mark the taken off of the project, at this stage a meeting will be held to remind all members of the project execution team about their responsibilities to the successful completion of the project. In this stage,the resources needed to carry out the project will be given to the contractors hired to execute the project, materials needed to execute the project will be purchased, the progress meeting will be held to know if the project is well on track,and if need be changes are made to the project plan. When this is done then they will move to the next stage
Project performance / monitoring : This is the stage at which the progress of the work done will be ascertained in order to ensure that they are working in accordance with the project management plan. They will monitor the contractors in order to ensure that the contractors deliver a quality work at the end of the project. When this is done the project moved to the next stage.
Project closure: This is when the whole project will be brought into an end, at this stage the work of the contractors handling the project comes to an end. The members of the project management team will be appreciated for a good job done. The project will then be handed over to the owners of the project that is the person, organization or institution who awarded the project to the contractors.