The new product development begins with the idea generation.
Explanation:
The five basic stages of new product development (NPD) are as follows,
Idea generation: This is the first and foremost process of NPD. It is systematic search for new ideas from internal and external sources.Idea screening: Filtering the best ideas from all the selected ones. Concept development: Developing the reliable concepts with the help of SWOT analysis.Marketing strategy development: Description of the target market, outline of the product’s planned price and planned long-term salesBusiness analysis: Review of the sales, R&D, operations and efficiency ratio measure.Product development: Developing a successful prototypeTest marketing: The proposed marketing program and the developed product is released in the realistic market.Commercialisation: Introducing the developed product finally and permanently into market.Why do price discrimination and the existence of slightly different variants of the same product tend to go hand in hand? By introducing slightly different variants of the product, firms that price discriminate are able to
Options:
Separate buyers based on their income.
Separate buyers based on their willingness to pay.
Lower their profit.
Lower the marginal cost of producing an additional unit of output.
Answer:Lower the marginal cost of producing an additional unit of output.
Explanation:Price discrimination is a pricing strategy that gives different prices for the same kind of product. Price discrimination can be classified as first degree(charging of a different price for every unit consumed),second degree(involves charging different prices for different Quantity purchased) and third degree(charging of a different price to different consumer groups).
Through price discrimination, firms are able to make additional variants of the same product in order to Lower the marginal cost of producing an additional unit of output.
Price discrimination and the existence of slightly different variants of the same product go hand in hand because offering product variants allows firms to differentiate their offerings and justify varying prices based on consumer preferences and willingness to pay.
Explanation:In economics, price discrimination refers to the practice of charging different prices for the same product or service to different groups of consumers. When firms engage in price discrimination, they often introduce slightly different variants or versions of the product in order to justify the price differences. This is because offering different variants allows firms to differentiate the products and create the perception of added value, which justifies the varying prices.
For example, a company may offer a basic version of a product at a lower price point, and a premium version with additional features at a higher price. By doing so, the company can target different segments of consumers based on their willingness to pay, maximizing their profits through price discrimination.
Overall, the existence of slightly different variants of the same product and price discrimination tend to go hand in hand because offering product variants is a strategy that enables firms to differentiate their offerings and capture different segments of the market at different price points.
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A project engineer has been scheduled to run the product system test at the exact same time he is to build a marketing prototype. This is an example of a ________ constraint.
Answer:
resource
Explanation:
A resource constraint refers to the lack of all the necessary inputs to finish a particular task. The most common resource constraints are materials, equipment or time.
You must remember that time is the most scarce resource of all, since no matter how much money you have, you cannot add hours to a day.
In this case, the engineer's time is the constraint.
Eagle Company, a partnership, had a short-term capital loss of $10,000 during the current year. Aaron, who owns 25% of Eagle, will report $2,500 of Eagle's short-term capital loss on his individual tax return.
Answer:
True
Explanation:
Partnerships are not taxed as individual entities, they work as pass through entities where the partners must report any gains or losses on their personal income filings.
In this case, since Aaron owns 25% of Eagle Company, any loss or gain that Eagle company has will be passed to Aaron in the same percentage. Since Eagle had a $10,000 short term capital loss, $2,500 ($10,000 x 25%) of the loss will pass to Aaron.
Which of the following is true about a line of credit secured by the equity in the debtor's home? a. there is a three-day rescission period b. the same levels of disclosure for other types of credit are not required c. the monthly payments need not be disclosed d. All of the above are true.
Answer:
A) there is a three-day rescission period
Explanation:
The three day cooling off period applies to home equity lines of credit (HELOC).
HELOCs were very popular before the great recession and were one of its causes. A debtor will take a credit from a lender using his/her equity on their house as collateral. This type of credits were usually second mortgages that didn't have a definite purpose, but could be used freely by the borrowers.
Daphne is one of the three project managers at Virgo Inc., an art and design studio. Raymond and Gabriel, the other two project managers, are unhappy working with Daphne as she always selects projects that suit her area of expertise and avoids projects which require more ambiguous work, have tight deadlines, and represent a low probability of success. Raymond and Gabriel feel that they deserve greater credit than Daphne for being open and accepting different work demands and situations, as opposed to Daphne, who always takes a conservative and risk-averse approach. Daphne is using the defensive behavior of _________ here.
A) scapegoating
B) ingratiating
C) stalling
D) retaliating
E) playing safe
Answer:
E) playing safe
Explanation:
Daphne is, as colloquially can be said, "playing it safe" within the company. She is a risk-averse individual who does not feel comfortable outside her comfort-zone, therefore, she tries to only work with projects that cater to her personal skills and experience, even if this strategy causes distress to the other two project managers.
Daphne is using the defensive behavior of playing safe by always selecting projects that align with her expertise and avoiding projects with more risk. This behavior is causing discontent among other project managers.
Explanation:Daphne is using the defensive behavior of playing safe. She always selects projects that suit her area of expertise and avoids projects with more ambiguous work, tight deadlines, and low probability of success. This risk-averse approach is causing dissatisfaction among the other project managers, Raymond and Gabriel, who believe they deserve more credit for being open and accepting different work demands and situations.
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Based on the author's take on e-waste management, a manager would do well to learn that:______. a. dealing with e-waste at home can be ten times cheaper than sending it abroad. disposal and recycling partners must be audited with the same vigor as suppliers and other partners. b. environmentalists target only the big firms as they can afford to compensate for any environmental damage wrought by their practices. c. it is simple enough for firms to monitor and track e-waste management through international agencies such as Fair Factories Clearing house. d. appointing environmentalists like Al Gore to the firm's board of directors helps avoid legal action and brand tarnishing due to bad e-waste management practices.
Answer:
disposal and recycling partners must be audited with the same vigor as suppliers and other partners
Explanation:
Based on the author's take on e-waste management, a manager would do well to learn that: disposal and recycling partners must be audited with the same vigor as suppliers and other partners.
According to the author of the book ''E-waste: The Dark Side of Moore's Law''
Managers must audit disposal and recycling partners with the same vigor as suppliers and other partners
When determining whether to shut down in the short run, a competitive firm should ignore (i) fixed costs. (ii) variable costs. (iii) sunk costs. A. (ii) only B. (i) and (iii) only C. (iii) only D. (i), (ii), and (iii)
Answer:
B) (i) and (iii) only
(i) fixed costs.(iii) sunk costs.Explanation:
When a competitive firm must decide whether it shuts down or not in the short run, it must only focus on the variable costs and the marginal revenue. As long as the marginal revenue ≥ variable cost, then the firm should continue to operate in the short run, at least until the market stabilizes.
The owner of a pizza shop observes that when she raises the price of a large pizza, her total revenue decreases, and when she lowers the price of a large pizza, her total revenue increases. This suggests that:
Answer:
The demand for large pizza must be elastic.
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Demand is elastic if a small change in price leads to a greater change in the quantity demanded.
If price is increased, the quantity demanded falls more than the rise in price. As a result of the fall in the quantity demanded, total revenue of the seller falls.
Conversely, if price is reduced, the quantity demanded rises more than the reduction in price and as a result total revenue rises.
The coefficient of elastic demand is greater than 1.
I hope my answer helps you
The owner of the pizza shop observes that raising the price of a large pizza decreases total revenue, while lowering the price increases total revenue. This suggests that the demand for large pizzas is price elastic.
Explanation:When the owner of a pizza shop raises the price of a large pizza, her total revenue decreases, and when she lowers the price of a large pizza, her total revenue increases. This suggests that the demand for large pizzas is price elastic. Price elasticity of demand is a measure of how responsive the quantity demanded of a good is to a change in its price. When demand is elastic, a change in price leads to a proportional change in quantity demanded, resulting in total revenue moving in the opposite direction. In this case, lowering the price increases the quantity demanded, and the increase in quantity compensates for the reduction in price, leading to higher total revenue.
A bank will often hold government securities as an asset. If a bank were to sell S500,000 in government securities to an individual who paid for the bond in cash and the bank placed this cash in its vault, by how much would the money supply change as a result? a. It would increase by $500,000 multiplied by the reciprocal of the required reserve ratio. b. It would decrease by $500,000 multiplied by the reciprocal of the required reserve ratio. c. There would be no change to the money supply. d. It would increase by $500,000. e. It would decrease by $500,000.
Answer:a.
It would increase by $500,000 multiplied by the reciprocal of the required reserve ratio.
Explanation:
A bank will often hold government securities as an asset. If a bank were to sell S500,000 in government securities to an individual who paid for the bond in cash and the bank placed this cash in its vault, by how much would the money supply change as a result - It would increase by $500,000 multiplied by the reciprocal of the required reserve ratio.
The money supply is the entire stock of currency and other liquid instruments circulating in a country's economy and is given by the formula:
MONEY SUPPLY = RESERVES X MONEY MULTIPLIER
Therefore the bank reserves increasing in the scenario will increase money supplier by the effect of the money multiplier or the reciprocal of the required reserve ratio.
Whittaker Publishing Corp. is a publishing company that wants to hire more technical experts to handle the software requirements in the publishing process. However, the test given to the programmers assesses not only their technical knowledge but also their communication skills, language abilities, and understanding of client services. The test conducted by Whittaker Publishing Corp. is ___________.A. high on reliability
B. low on strategic congruence
C. high on specificity
D. high on acceptability
E. low on validity
Answer:
low on validity
"The way in which a manager working in the country of Batangonia interacts with a manager working in the country of Octavia is the same way in which he or she behaves when doing business with an executive working in the country of Cordia. This scenario exemplifies"
Answer:
Simplification
Explanation:
Simplification is a technique that is used to simplify the processes, organize them and eliminate parts that are not necessary to increase productivity and have consistency. According to this, the answer is that the scenario exemplifies simplification because you can inferred that the company established a process to handle interactions for all the managers to use that eliminates unnecessary steps and helps to have an standard way to manage them that allows consistency.
"The way in which a manager working in the country of Batangonia interacts with a manager working in the country of Octavia is the same way in which he or she behaves when doing business with an executive working in the country of Cordia. This scenario exemplifies"
Answer: The scenario exemplifies simplification.
Explanation:
Simplification is a process used to make something easier to understand. It can also be used to help something more simple to learn and also to easier to do.
With this scenario, the manager is interacting the exact same way as they always do no matter where they are located. This is helpful because the manager does not need to learn or remember to change the way they act when meeting someone new in business.
At the beginning of the month, the baking department of Mario Company had no beginning work in process inventory. At the end of the month, 800 units that were 75% complete with respect to materials were in the in the ending work in process inventory of its baking department. During the month, 1,200 units were completed and transferred to Finished Goods. Assuming that the weighted-average method is used, the equivalent units in the ending work in process inventory with respect to materials of the baking department equal:_______.
Answer:
1800 units
Explanation:
Equivalent units refer to the number of units which would've been completed if all the efforts were directed at those units which were started during a month, which are of course less than the total units of work in process.
In the given case, equivalent units shall be computed as follows,
Equivalent number of units using weighted average method = Finished goods + Equivalent units in ending work in process
Equivalent number of units = 1200 + 800 × 0.75
Equivalent number of units = 1200 + 600 = 1800 units
A project's payback period is the ______. estimated length of the capital investment project from the initial cash outflow to the end of the project length of time it takes for the project to begin to generate cash inflows length of time it takes for the project to recover its initial cost from the net cash inflows generated useful life of the capital asset purchased
Answer: Length of time it takes for the project to recover its initial cost from the net cash inflows generated
Explanation:
A Payback period like the term implies is simply how long it will take to pay back the original investment.
Going further it is how long it will take to pay back the original investment from the cash inflows that the project will generate.
For example, if a project costs $200 to initiate and each year has cash inflows of $50 dollars every year then all else being equal, the initial capital should be paid off in 4 years.
4 years in this scenario is the Payback Period.
As the owner of a television studio, Kelvin is concerned about the high wages he must pay his employees relative to wages paid by other television studio owners. A consultant has suggested that his location is a contributing factor to these higher wages because he has built his studio in:_______________.
Answer:
Explained below.
Explanation:
As Kelvin has built his studio in a place, where other studios at that place pay their employees higher wages. So he also have to pay higher wages to his employees. The consultant's suggestion is right that location is one of the factor for increment of the employees wages.
So Kelvin should shift his television studio to a place where other studios at that place pay their employees less wages.
Answer:
a location that has frequent wildfires and floods.
Explanation:
As the owner of a television studio, Kelvin is concerned about the high wages he must pay his employees relative to wages paid by other television studio owners. A consultant has suggested that his location is a contributing factor to these higher wages because he has built his studio in a location that has frequent wildfires and floods.
Employees has to increase wages of their employee because of more severe positive compensating differentials, which is safe workplace.
Compensating differentials: It is a term used in labor economics to show relation of wage rate and risk factor in the job undertaken by labors. Additional wages is paid to employee to motivate employee to do unpleasant work.
Find the accumulated value of an investment of $ 20 comma 000 for 5 years at an interest rate of 6.5 % if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously.
Answer:
A) $27,537.89
B) $27,608.40
C) $27,656.90
D) $27,680.61
Explanation:
present value = $20,000
n = 10 , 20 , 60
i = 3.25% , 1.625% , 0.5417%
a. compounded semiannually;
future value = $20,000 x 1.0325¹⁰ = $27,537.89
b. compounded quarterly;
future value = $20,000 x 1.01625²⁰ = $27,608.40
c. compounded monthly
future value = $20,000 x 1.005417⁶⁰ = $27,656.90
d. compounded continuously.
A = Peˣⁿ
where:
A = future value = ?P = principal = $20,000e = mathematical constant = 2.71828x = interest rate = 6.5% = 0.065n = periods = 5 yearsA = $20,000 x 2.71828⁰°⁰⁶⁵ˣ⁵ = $20,000 x 2.71828⁰°³²⁵ = $20,000 x 1.384 = $27,680.61
A restaurant owner leased a meeting room at the restaurant to a second party. The lease specified that the second party, not the restaurant owner, would be responsible for any liability arising out of the use of the meeting room, and that the restaurant owner would be "held harmless" for any damages. The restaurant owner's use of the hold-harmless agreement in the lease is an example of:___________.a. Warning labels on packaging for medications. b. A firm installs sprinkler systems. c. Exercising to maintain your health. d. Storing backup copies of records in the cloud.
Answer:
noninsurance transfer
Explanation:
Based on the information provided it can be said that the restaurant owner's use of the hold-harmless agreement in the lease is an example of a noninsurance transfer. This term refers transferring all risk from one individual to another by any means other than a policy of insurance. Which in this case was by the use of an agreement in the property lease.
** The provided answers do not seem to be part of this question **
A hockey team plays in an arena with a seating capacity of 15 000 spectators. With ticket prices set at $12, average attendance at a game has been 11 000. A market surveys indicates that for each dollar that ticket prices are lowered, the average attendence will increase by 1000. How should the owners of the team set ticket prices so as to maximize their revenue from ticket sales?
Answer:
their price at $11.50 for maximum revenue
Explanation:
given data
seating capacity = 15000
ticket prices = $12
average attendance game = 11000
average attendance increase = 1000
solution
we consider here Revenue function is R and that is express as
Revenue function R = Price of ticket × booked seats .....................1
here number of time lowered the price of ticket n = $1
so here price will be as
price = $12 - ( n × $1)
price = $(12 - n) ................2
so here Quantity will express as
Quantity = number of sold tickets + n (1000)
Quantity = 1100 + n (1000) Spectators ..................3
so R(n) will be
R(n) = 12-n (11000 + 1000n)
R(n) = 132,000 + 1000n - 1000n²
R(n) = -1000 (x² - x - 132)
R(n) = -1000 ( (x - 0.5)² - [tex]\frac{529}{4}[/tex] )
so
R(n) = -1000 (x - 0.5)² + 132,250
R(n) - 13,250 = -1,000 (x - 0.5)²
solve it we get
n = 0.5 ..........4
so from equation 2
price = 12 - 0.5
price = $11.50
so from equation 3
Spectators = 11,000 + 1,000 (0.5)
Spectators = 11,500
and
Revenue = $13,250
so that here set their price at $11.50 for maximum revenue
A schedule listing account balances for the current and previous years, and columns for adjusting and reclassifying entries proposed by the auditors to arrive at the final mount that will appear in the financial statement, is referred to as a: _______.
A) Working trial balance.
B) Lead schedule.
C) Summarizing schedule.
D) Supporting schedule.
Answer:working trial balance
Explanation:
A trial balance is a statement prepared to test the mechanical accuracy of ledger transactions
Answer:A) Working trial balance
Explanation: A working trial balance is a trial balance which has not been adjusted,it is still in the process of being adjusted. A working trial balance is added any adjustments before the accounting period is to be closed. A working trial balance contains a schedule which lists account balances for the current and previous years, and columns for adjusting and reclassification etc.
Examples of intangible benefits include all of the following except a(n) ____. Group of answer choices sales tracking system that supplies better information for marketing decisions new Web site that enhances the company’s image online package tracking system that decreases the need for clerical staff user-friendly system that improves employee job satisfaction
Answer:
The correct answer is: online package tracking system that decreases the need for clerical staff.
Explanation:
Intangible benefits are attractive to employers for several reasons. Employees who receive these benefits often feel appreciated and motivated to work harder. Company managers can also enjoy the flexibility of choosing intangible benefits that fit each employee. For example, one employee might prefer to receive recognition for a job well done, while another would prefer a four-day work week. Some people only consider working for companies that offer certain intangible benefits, such as telecommuting or the prestige of working for a known company. Offering these benefits keeps the company competitive when it comes to acquiring new talent.
How much can Jorge afford to spend on a monthly car payment if his excess monthly cash flow is $380, and he expects the following monthly expenses: $42 gas, $100 insurance, and $24 for maintenance and repairs
Answer:
$214
Explanation:
If we can assume that Jorge's monthly expenses once he buys the car will only increase by = gas ($42) + insurance ($100) + (maintenance and repairs ($24) = $166 in total,
Then he will have $214 to cover his monthly car payment: excess monthly cash flow - total additional expenses = 380 - $166 = $214
Sue purchased a stock for $25 a share, held it for one year, received a $1.34 dividend, and sold the stock for $26.45. What nominal rate of return did she earn? 10.55% 14.23% 12.09% 11.16%
Answer:
11.16%
Explanation:
Given that
Purchase price of stock = $25
Sale price of stock = $26.45
Dividend = $1.34
So, The computation of the nominal rate of return is shown below:
Nominal rate of return = (Sale price of the stock - purchase price of the stock + Dividend) ÷ (Purchase price of the stock)
= ($26.45 - $25 + $1.34 ) ÷ ($25)
= 11.16%
Debt securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses and are included as other comprehensive income and as a separate component of stockholders' equity are:________.1. never-sell debt securities.
2. held-to-maturity debt securities.
3. trading debt securities.
4. available-for-sale debt securities.
Answer:
4) available-for-sale debt securities.
Explanation:
Available for sale debt securities are securities that can be sold in the future, but are included as other comprehensive income.
Option 1 is wrong because it's not a real term.
Option 2 is wrong because held to maturity debt securities are accounted for at amortized cost, not fair value, e.g. municipal bonds.
Option 3 is wrong because trading securities are recorded as current assets because the firm plans to trade them in the short term.
Which of the following is true?a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals.b. Unanticipated inflation is a change in the price level that is widely expected.c. Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy.d. Inflation will increase the prices of goods and services that households purchase but not the wage rates of workers.
Answer:
Option "C" is the correct answer to the following statement.
Explanation:
Decision-makers are usually highly skilled in Forecasting Inflation, they educate themselves to get knowledge and skill which will help them to Anticipate inflation slow market rates.
Decision-makers probably expect with a particularly high level of certainty with these forecast many industries change their plans according to inflation.
According to the video, _________________ is unplanned buying with little investigation of alternative stores, brands, or prices, whereas, _________________ is the process of considering alternative stores, brands, and prices.A. Comparison shopping; impulse buying.B. Impulse buying, comparison shopping.C. Influenced buying; substitute shopping.D. Substitute shopping; influenced buying.E. Influenced buying; opportunity shopping.
According to the video, Impulsive Buying is unplanned buying with little investigation of alternative stores, brands, or prices, whereas, Comparison shopping is the process of considering alternative stores, brands, and prices.
Explanation:
Impulsive buying refer to the phenomenon of buying something without any plan.It is just like you went to a shop you liked something and you bought it.Few example of impulsive buying are-buying chocolates,a scarf,a painting or even a furniture.Impulse buying is also termed as Pleasure buying.
Comparison shopping refers to the process of buying a product after comparing the price,brand with that of the other similar product in the market.
If an economy is in a steady-state with no population growth or technological change and the capital stock is above the Golden Rule level and the saving rate falls:
a. output, investment, and depreciation will decrease, and consumption will increase and then decrease but finally approach a level above its initial state.
b. output, consumption, investment, and depreciation will all decrease.
c. output and investment will decrease, and consumption and depreciation will increase and then decrease but finally approach levels above their initial state.
d. output and investment will decrease, and consumption and depreciation will increase.
Answer: A. output, investment, and depreciation will decrease and consumption will increase and then decrease but finally approach a level above its initial state.
Explanation: from the above question, an economy that is in a steady-state with no population growth or technological change and the capital stock is above the Golden Rule level and the saving rate falls then output, investment, and depreciation will decrease and consumption will increase and then decrease but finally approach a level above its initial state.
Answer:
c. output and investment will decrease, and consumption and depreciation will increase and then decrease but finally approach levels above their initial state.
Explanation:
If an economy is in a steady state with no population growth or technological change and the capital stock is above the Golden Rule level and the saving rate falls: output, investment, and depreciation will decrease, and consumption will increase and then decrease but finally approach a level above its initial state.
The Golden Rule capital stock is the level at which MPK = δ, so that the marginal product of capital equals the depreciation rate. When the economy begins above the Golden Rule level of capital, reaching the Golden Rule level leads to higher consumption at all points in time.
Therefore since in the scenario, capital stock is above golden rule level, consumption will rise, and fall as it approaches golden rule.
Shenaz remains calm with her customers who are intolerant and rude toward her. She always has a positive attitude and is able to quickly find solutions to her customers' issues. In the context of the Big Five personality traits, which of the following statements is most likely true about Shenaz?a. Shenaz ranks low on the dimension of conscientiousness.
b. Shenaz is an extrovert.
c. Shenaz has a high level of intelligence quotient.
d. Shenaz is emotionally stable.
Answer:
D. Shenaz is emotionally stable.
Explanation:
Big five personality traits defines human personality and accounts for individual differences. It focuses on the notion that various individuals has various personality traits. The big five are
1. Openness
2. Conscientiousness
3. Agreeableness
4. Extraversion
5. Neuroticism
In this case, we concerned with NEUROTICISM. It is also known as emotional stability. It measures the degree to which an individual is emotionally stable or emotionally unstable. Those who are high on this matrix are said to be emotionally unstable while those that are low are said to be emotionally stable. Shenaz is calm and collected, hence she's low in the neuroticism matrix.
Doug is the vice president of product development for a corporation that makes flavored honey. Doug proposes to the board that they approve three new products: chili-flavored honey, seaweed-flavored honey, and black-licorice honey. Doug and his team have market tested the flavors, and they received positive reviews from focus groups. The board approves the flavors, which then fail miserably and cost the company thousands of dollars. If some shareholders sue the board for its decision to market the flavors, the board ___________.
Answer:
most likely will not be held responsible because of the business judgment rule.
Explanation:
A business judgement rule is a legal provision that protects the board of a company from frivolous legal actions as flregards its business decisions.
Boards of companies are assumed to act in good faith, within their fiduciary standards of loyalty, prudence and care that the board owes to shareholders.
It will have to be proven that the board blatantly violated a code of conduct, otherwise the court will review or question it's decisions.
Answer:
will not be held responsible for the loss.
Explanation:
The business judgement rule is a doctrine that affects corporation's management and other agents. This doctrine is based on the idea that all business decisions yield unknown results, even the safest investments or safest projects can go wrong. Only the US government has never defaulted on a loan (US securities) but every other nation or organization has at one point in time defaulted or delayed a payment.
Investors that buy stocks from a corporation know about the risks of running a business, if they do not like to take risks, US securities are always available. As long as management (including the board) acts on good faith, within the normal scope of business, they cannot be held liable for any bad investment carried out.
If this doctrine didn't exist, no one would be able to manage a company, since no one would dare to make any decisions at all. When you calculate the price of stock or the cost of capital, you must add the risk free rate (US securities) + the risk premium.
You need to hire an analyst for an important project team. It is essential that the new employee work well on the already established team in order to meet the project's challenging deadlines. The most talented candidate doesn't have any team experience and when asked in the interview about his team experience he replied, "I prefer to work alone. I'm much more efficient alone." What should you do?
Answer:
given the circumstance and the reply given by the candidate, Looking for a different candidate will be the best alternative.
Explanation:
since the most talented candidate doesn't have any team experience and prefers working alone, it's best to move on and look for a candidate that has an experience working in/with a team.
Due to the candidate’s lack of team experience and preference for solo work, a hiring manager must assess potential for team integration and ability to contribute to team synergy. Training may be offered to develop teamwork skills if the individual's talents are indispensable, but a balance should be struck with solo assignments.
When faced with the decision of hiring an analyst for a team-focused project, it is crucial to gauge not only the individual's technical abilities but also their propensity for teamwork. Given the importance of the new employee's integration into an established project team, despite the candidate’s talent, the lack of team experience and preference for solo work pose significant concerns. In alignment with the insights presented by Dan Collins and the research findings of Humphrey et al. (2007), Stevens & Campion (1999), and Hirschfeld et al. (2006), a capable team member should not only have the necessary knowledge, skills, and abilities (KSAs), but should also possess the personality traits and attitudes conducive to teamwork, such as conflict resolution, motivation, planning, and leadership. Therefore, considering the project's challenging deadlines, the hiring manager should evaluate the candidate's potential for team synergy, the ability to adapt to team dynamics, and weigh the possibility of offering training to develop these essential interpersonal skills. If the talent of the individual is indispensable, the hiring manager might seek to strike a balance by providing tailored teamwork training in tandem with assignments that can harness the analyst's efficiency in solo tasks when suitable.
A government has a single-employer defined benefit pension plan for its firefighters. At its December 31, 2019 fiscal year-end, the government had a total pension liability for the plan of $1,200,000 and accumulated assets to pay the liability of $800,000. On December 31, 2020, the government had a total pension liability for the plan of $1,300,000 and accumulated assets to pay the liability of $780,000. The assets to pay the liability are reported as a part of the General Fund's committed fund balance.
What amount will the government report as its pension liability in its government-wide financial statements on December 31, 2020?
Answer:
$1,300,000
Explanation: