Answer:
5.25 containers are needed
Explanation:
Given:
Total Demand for 8 hour = 600
Safety stock = 50%
Container size = 100
Lead hour = 3 hour
Computation of container required:
Demand for an hour = 600/8 = 75
Safety stock = 50% of 600 = 300
Needed container = [(Demand for an hour x Lead hour) + Safety stock ] / 100
= [(75 x 3) + 300] / 100
= 525 /100
=5.25
Therefore, 5.25 containers are needed
Cami is the marketing manager for a regional furniture maker. She closely monitors the impact of each marketing campaign on overall sales. She routinely tries novel promotional offers to reach first-time customers. Which of the following skills does Cami exhibit?A) systems thinkingB) experimentationC) abstract reasoningD) collaborationE) troubleshooting
Answer:
B. experimentation
Explanation:
Experimentation -
It refers to the practice of performing certain experiments or activities , is referred to as experimentation .
The method helps to prove certain process in a very practical manner .
The process of experimentation require activities likes , survey , campaign etc.
The experiment can be for any activity or project .
Hence , from the given scenario of the question ,
The correct option is B. experimentation .
Cami shows the skill of option B. experimentation by monitoring marketing campaigns' impact and testing new promotional strategies to increase sales.
Cami, the marketing manager for a regional furniture maker who monitors the impact of marketing campaigns on sales and tries novel promotional offers, exhibits the skill of experimentation.
Experimentation is a critical component of marketing strategy as it involves trying out new ideas and promotional offers to reach new customers, analyzing the results, and making adjustments to enhance overall sales performance.
This aligns with critical thinking and problem-solving skills, as Cami must evaluate the effectiveness of these novel strategies and adapt as necessary to maximize the potential for success.
The team that is planning the annual company sales meeting has members in several offices. They need to have a conversation about the agenda for the sales meeting. Which of the following will they most likely use?a. e-mail. b. blog posts. c. a conference call. d. social networking.
Answer:
Option C. a conference call
Explanation.
A conference call is a telephone call in which more than two people have a conversation simultaneously. Conference calls enables large number of people to connect with each other through a conference bridge to have a conversation, which is most importantly a server that plays a role of a telephone and can answer and accommodate multiple calls simultaneously. In a conference call which is generally a telephone call in which someone talks to various people at the same time. Conference calls have different setups. It depends how a conference call setup is built to communicate with each other. Some of them are in which every person can participate and talk at the same time or the call may be setup so that the called participants can only listen and cannot speak. As in this case the team clearly wants a conversation on a specific agenda so conference call is the only best option for them.
In promoting free trade, the author seems to be supporting A) fair and responsive standards to reduce trade barriers. B) fair and responsive standards to increase trade barriers. C) higher standards on Chinese goods to reduce software piracy. D) lower standards on Chinese goods to decrease investment by U.S. companies in China.
Answer:
The correct answer is A. In promoting free trade, the author seems to be supporting fair and responsive standards to reduce trade barriers.
Explanation:
Free trade is trade that is not regulated by tariffs, import quotas or other similar trade policy measures. The opposite of free trade is protectionism.
The vast majority of economists in the scientific community are in favor of free trade, stating that it has a positive impact on economic growth and the level of development, while protectionism has a negative impact on growth and the level of wealth.
Free trade exists among other EU member states. It is also possible to consider trade within a country as free trade. The countries with the lowest tariffs as a share of total foreign trade are industrial countries such as the EU countries, Canada and Australia. However, these apply very high tariffs on agricultural products and textiles. Developing countries in Latin America, Africa and Asia have higher tariffs.
Green taxes ________. Green taxes ________. are paid by golfers in areas where sensitive habitat has been converted to golf courses are widely supported and instituted in the United States may affect consumers if the companies paying the taxes raise the price of their product are taxes instituted on landscaping plants and trees to raise funds for projects promoting sustainable development have been rejected by the European Union as being too costly to enforce
Answer:
d. may affect consumers if the companies paying the taxes raise the price of their product
Explanation:
Green tax aim to reduce activity that can destroy or harmful to the environment. The economic incentives to find alternative way hoped will reduce the rate of environmental destruction. But some of the tax is criticized as a regressive tax. A regressive tax is a type of tax put more burden on the citizen with lower income compared to the higher ones. The tax can be levied to the customer instead by increasing the price of the product.
Final answer:
Green taxes are economic incentives that encourage environmentally friendly actions by penalizing harmful environmental practices or subsidizing beneficial ones. They are implemented globally, with variance in support and impact on industries and consumers, and can play an important role in promoting sustainable practices and development.
Explanation:
Green taxes are economically-driven incentives designed to promote environmentally friendly practices by increasing the cost of actions that harm the environment, or by reducing the cost of actions that benefit it. For example, industries that adopt sustainable solutions like solar panels or green infrastructure can benefit from tax incentives. These green taxes can also come in the form of pollution charges. For instance, the federal government in many countries, including the United States and Canada, imposes taxes on gasoline as a charge for the air pollution that cars generate.
Moreover, implementation of green taxes can encourage the use of greener transport options, such as hybrid and electric vehicles. When companies face higher costs due to environmental taxes, they may pass these costs onto consumers through higher prices. However, subsidizing sustainable energy, like solar and wind power, can level the playing field against fossil fuels. On a global scale, gasoline taxes and other pollution charges are often higher outside the United States.
Functional managers a. look at the overall picture of a corporation. b. execute business-level decisions. c. have no strategic role. d. formulate generic strategies. e. are responsible for the specific business functions or operations that constitute a company or one of its divisions.
Answer:
e. are responsible for the specific business functions or operations that constitute a company or one of its divisions.
Explanation:
The functional manager defines the person who manages the organization department. It is specialized in different categories such as Human Resource Management, Finance, Marketing, Operations, etc. A functional manager manages its resources for the benefit of the organization.
So, the Functional manager is responsible for a particular business function, operations for a company or a specific division.
The Giles Agency offers a 12% trade discount when providing advertising services of $1,000 or more to its customers. Audrey’s Antiques decides to purchase advertising services of $3,500 (not including the trade discount), while Michael’s Motors purchases only $700 of advertising. Both services are provided on account. Record both transactions for Giles agency
The journal entries are as follows
In the books of Giles Agency
1. Account receivable Dr $3,080
To Service revenue $3,080
(Being the service is provided in account)
The computation is shown below:
= $3,500 - $3,500 × 12%
= $3,500 - $420
= $3,080
2. Account receivable Dr $700
To Service revenue $700
(Being the service is provided in account)
Final answer:
For Audrey’s Antiques, a trade discount is applied, resulting in a transaction amount of $3,080. For Michael’s Motors, no discount is provided, making the transaction amount $700. Journal entries are made accordingly for both transactions.
Explanation:
The question asks for the recording of transactions for the Giles Agency after they provide advertising services, with specific focus on providing a trade discount to Audrey’s Antiques but not to Michael’s Motors due to the purchase amounts. Audrey’s Antiques purchases services of $3,500, eligible for a 12% discount, while Michael’s Motors buys $700 of services, not reaching the threshold for a discount.
For Audrey’s Antiques, the calculation is as follows: $3,500 x 12% = $420. Thus, the discounted amount is $3,500 - $420 = $3,080. The journal entry to record this transaction is:
Debit Accounts Receivable $3,080
Credit Sales Revenue $3,080
For Michael’s Motors, since no discount is applied, the entry is straightforward:
Debit Accounts Receivable $700
Credit Sales Revenue $700
4) Typically, increasing interest rates 4) A) encourages corporate expansion. B) discourages individuals from saving. C) discourages corporate investments. D) encourages corporate borrowing. E) none of the above.
Answer:
C) discourages corporate investments.
Explanation:
Option A is incorrect because increasing interest rate discourages corporate expansion instead of encourages.
Option B is false. As interest rate increases, it encourages the individuals to save more.
Option D is wrong because corporation cannot borrow money if the interest rate increases.
Option C is correct because increasing interest rate discourages corporations to invest more.
Mae manages delivery at a custom-kitchen outlet. Working with her customer's specifications, she contacts Gem Cabinets and places an order for a full-motion wall mount. Which of the following primary activities is Mae performing here?A) inbound logistics. B) operations. C) customer service. D) marketing.
Answer:
The correct option is A,inbound logistics
Explanation:
Inbound logistics in supply chain management consists of procuring,receiving, warehousing and disseminating inputs to production outlets.However,the case of Mae is not manufacturing related,as a result,the function of dissemination of goods is not applicable as that is outbound logistics activity.
Operations in this Mae's scenario deals with the actual sale of items at the custom-kitchen outlet.
Customer service is about handling customers' pre- and post-sale inquiries and complaints
Answer:
A) inbound logistics.
Explanation:
In supply chain management, inbound logistics refers to the process by which a company receives goods, either by purchasing them or in consignment. It includes the transportation, storage and delivery of the goods.
E.g. when a company purchases goods from a foreign manufacturer, the inbound logistics includes the shipping of the goods by sea, the storage when it arrives at port, and finally the distribution by land to its operating facilities.
Outbound logistics applies to the process that takes place when the company sells the goods to either final consumers or other companies.
Larkan & Tokodo is a financial institution that sells shares to investors. The funds resulting from the investments are pooled and then invested in large corporate stocks, corporate bonds, government securities, or other assets. Jeremy, a capitalist, invests in Larkan & Tokodo. In this case, Jeremy has invested in a _____.
Answer:
mutual fund
Explanation:
A mutual fund is an investment vehicle that collects money from investors (usually small investors) and invests that money in purchasing and selling securities, e.g. bonds, stocks, etc. They are managed by a fund manager (usually not a person, but a company, in this case Larkan & Tokodo) that decides where to invest the funds. The value of a mutual fund is determined by the price of its shares that basically includes a fraction of the investment pool.
Answer: In this case, Jeremy has invested in a MUTUAL FUND.
Explanation: in finance, mutual fund is a form of collective investment in which money from many investors is pooled and invested in stocks, bonds, short-term money market instruments, and/or other securities under the direction of a fund manager.
In this case, Larkan and Tokodo is the fund manager.
When a taxpayer does not materially participate in the business activities of a trade or business (including rental activities) in which he is a partial owner, any loss that flows through to the taxpayer is subject to the______loss rules.
Answer:
Passive activity
Explanation:
Passive activities are those kind of activities which involve the business or the trade activities in which the person does not participate materially. And when the person participate materially in the activity, the person is involved in the operations of the company on a continuous, substantial as well as regular basis.
So, in this case, the taxpayer does not participate materially in the activities of the business and the taxpayer is the partial owner, any loss which flows through to the taxpayer will subject to the passive activity rules of loss.
The local bakery makes such great cinnamon rolls that consumers do not respond much at all to a change in the price. If the owner is only interested in increasing revenue, she should]
The local bakery makes such great cinnamon rolls that consumers do not respond much at all to a change in the price. If the owner is only interested in increasing revenue, she should raise the price of the cinnamon rolls.
Explanation:Price is the amount that we fix for a product in selling. The changes in the prices of any goods or services affects the demand and supply of that goods and services. Supply refers to the amount of product or service that is being available to the consumers and demand refers to the number of people who want a particular product or services.
When the supply increases the price will get reduced and the demand will also increase. In the given scenario, the selling if cinnamon does not have any response in the customers regarding its price. Hence, when the owner wishes to generate revenue he can raise the price of the cinnamon rolls.
Given the inelastic demand for the bakery's cinnamon rolls, the bakery owner can increase revenue by raising the price of her cinnamon rolls.
Explanation:If the local bakery makes cinnamon rolls that are highly desired by consumers to the point where they do not respond significantly to a change in price, this is an example of inelastic demand. In economic terms, inelastic demand occurs when the quantity demanded by consumers does not change significantly in response to changes in price. Therefore, if the bakery owner wants to increase revenue, assuming demand remains inelastic, she should raise the price of the cinnamon rolls. This would result in higher revenue as the quantity sold would not decrease much, if at all, due to the price change.
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E-commerce creates a great deal of data on how consumers interact with a website. L.L.Bean keeps records that show how quickly consumers make decisions, how many alternatives they explore, and whether they stop without completing a purchase. When a manager sees an issue and proposes a solution, the company can easily test the solution. This is an example of:________.
Answer:
evidence-based decision-making
Explanation:
Evidence - based decision - making -
It refers to the method of decision making which require certain evidence to help for the process , is referred to as evidence - based decision making .
The method require certain data or information like chats , feedbacks , telephone conversation etc. with the consumers in order to consider the likes and disliked of the consumers , in order to improve the product according to the taste of the consumers .
Hence , from the given scenario of the question ,
The correct answer is evidence - based decision making .
Your company is restructuring, and two layers of management have been eliminated. You now report directly to the national sales manager instead of a regional sales manager.
a) Flattened management hierarchies
b) Nonterritorial offices
c) Changing communication technologies
Answer: is option a) Flattened management hierarchies.
Explanation.
The flattened hierarchies allows employee participation or involvement through a decentralized decision making process. The main agenda is that well trained employees will become more productive by direct involvement in decision making process rather than strictly supervised by various layers of management. A flat organization is referred to an organization containing less or no levels of management between workers and management. As in the given case certain number of layers are removed and workers will now directly reporting to the national sale manager instead of regional sales manager so this is clearly referred to flattened management hierarchies.
Since it has become known that several of a bank's top executives have been buying shares in their own bank, the bank's depositors, who had been worried by rumors that the bank faced-impending financial collapse, have been greatly relieved. They reason that, since top executives evidently have faith in the bank's financial soundness, those worrisome rumors must be false. Such reasoning might well be overoptimistic, however, since corporate executives have been known to buy shares in their own company in a calculated attempt to dispel negative rumors about the company's health.
In the argument given, the two boldfaced portions play which of the following roles?
(A) The first describes evidence that has been taken as supporting a conclusion; the second gives a reason for questioning that support.
(B) The first describes evidence that has been taken as supporting a conclusion; the second states a contrary conclusion that is the main conclusion of the argument.
(C) The first provides evidence in support of the main conclusion of the argument; the second states that conclusion.
(D) The first describes the circumstance that the argument as a whole seeks to explain; the second gives the explanation that the argument seeks to establish.
(E) The first describes the circumstance that the argument as a whole seeks to explain; the second provides evidence in support of the explanation that the argument seeks to establish.
Answer:
(B) The first describes evidence that has been taken as supporting a conclusion; the second states a contrary conclusion that is the main conclusion of the argument.
Explanation:
Since it has become known that several of a bank's top executives have been buying shares in their own bank, the bank's depositors, who had been worried by rumors that the bank faced-impending financial collapse, have been greatly relieved. They reason that, since top executives evidently have faith in the bank's financial soundness, those worrisome rumors must be false.
Such reasoning might well be overoptimistic, however, since corporate executives have been known to buy shares in their own company in a calculated attempt to dispel negative rumors about the company's health.
In the argument given, the two boldfaced portions play which of the following roles?
(B) The first describes evidence that has been taken as supporting a conclusion; the second states a contrary conclusion that is the main conclusion of the argument.
The conclusion of the first is that ''top executives evidently have faith in the bank's financial soundness, those worrisome rumors must be false.'' but that of the second is ''corporate executives have been known to buy shares in their own company in a calculated attempt to dispel negative rumors about the company's health.''
Hence the first is stating that the banks are sound because of executive share purchase and the second part is stating that the banks are NOT sound because executive share purchase is deceptive.
At February 1, 2022, the balance in Bonita Industries supplies account was $3080. During February Bonita purchased supplies of $2640 and used supplies of $3520. At the end of February, the balance in the Supplies account should be _________. a. $9240 debit. b. $3080 debit. c. $3960 credit. d. $2200 debit.
Answer:
Balance of Suppliers Account is $2200 debit
Explanation:
It is important to know that the Supplies Account increases on the debit side and decreases on the credit side.
On 1 February the account was $ 3080 and this was a debit since it was an existing balance.
Purchase during the year by Bonita Industries increased the Supplies Account. A debit entry of $2640 must be recorded.
Used supplies during the year decrease the Supplies Account. A credit entry of $3520 must be made
There for the balance left $2200(3080+2640-3520) is still on the increase side (debit).Hence the answer $2200 debit is correct.
To find the end balance of Bonita Industries' supplies account for February, we calculate the opening balance plus purchases minus supplies used, resulting in a $2200 debit.
Explanation:To calculate the balance in Bonita Industries' supplies account at the end of February, we start with the opening balance and then adjust for the transactions made during the month. Bonita began February with a supplies balance of $3080. Over February, Bonita purchased additional supplies worth $2640 and used supplies amounting to $3520. To find the ending balance, we add the purchases to the opening balance and subtract the amount of supplies used.
The balance in the Supplies account at the end of February can be calculated as:
Beginning balance + Purchases - Used = Ending balance
$3080 + $2640 - $3520 = $2200 debit
$3080 (opening balance) + $2640 (purchases) - $3520 (used) = $2200. Therefore, the balance in the Supplies account at the end of February should be $2200 debit.
Therefore, the balance in the Supplies account at the end of February should be $2200 debit.
The critical care unit of a hospital utilizes team huddles at change of shift. This is an opportunity for the clinical supervisors to connect with team members and review the upcoming shift or any quick topics that need to be communicated. This is an example of a(n) _____ meeting.
Answer:
Information sharing meeting.
Explanation:
An information sharing meeting is done primarily to disseminate information or to inform attendees of a particular issue. At most times such meetings are educational.
When clinical supervisors to connect with team members and review the upcoming shift or any quick topics that need to be communicated, they are holding information sharing meeting.
Information sharing meetings keep team members updated on relevant information that will make them perform better.
Final answer:
The critical care unit's team huddles at shift changes are called huddle meetings; these are crucial for patient care and staff coordination in healthcare settings.
Explanation:
The critical care unit of a hospital utilizes team huddles at the change of shift, which is an example of a huddle meeting. A huddle is a brief gathering designed to enhance situational awareness, affirm existing plans, and make necessary adjustments to the team's collaboration strategy. These meetings are essential for the dynamic healthcare environment where patient conditions can frequently change, necessitating updates in care plans and real-time communication among team members.
Hospital huddles enable healthcare professionals to execute effective patient care by establishing clear goals, sharing important information, and ensuring continuity of care through interprofessional collaborative practice. Moreover, such huddles contribute to the overall safety of patients by enabling clinical supervisors and team members to assess each other's readiness for the shift, using tools like the 'I'M SAFE' mnemonic for personal safety status.
ABC owns a company that manufactures dental radiation equipment. The company, which is run as an independent unit, has experienced excessive financial losses the last three years. The __________ for the company would be expected to develop the long-term plans needed to make the company profitable.
Answer:
Top manager
Explanation:
The top managers are those persons or managers who are responsible for overseeing as well as controlling the whole business or organization. The top level managers are those who develop or establish the policies of the company, strategic plans, goals or objectives as well as make decisions on the direction of business.
The managers of the company are at the top level and plays a very important role in the mobalization of the resources.
So, in this scenario, the company experience the losses and the top managers would the one who develop the long- term plans which will make the company to be profitable.
The fill-in-the-blanks should be filled with Top manager.
What is the top manager?The top manager is the person or the manager that should be responsible for controlling the operations of the business. Everything is going as per the goal or not. The employees are achieving the target on daily basis or not. It involved the things like strategic plans, goals, objectives, etc.
Since in the given situation, the company has the losses also wants to develop the long-term plans due to which it should be profitable.
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Online and offline marketing content is meant to drive action, which requires a focus on buyers problems. Effective brand journalism is about telling ______?
Answer:
Stories
Explanation:
Stories are the stuffs that the people hear about and like to discuss about. Stories are part of the organization culture and are a good means for an organization to affect customer choices because the issues of the customers are highlighted which helps organization to rectify its operations.
Mary, a single taxpayer, purchased 10,000 shares of § 1244 stock several years ago at a cost of $20 per share. in november of the current year, mary received an offer to sell the stock for $12 per share. she has the option of either selling all of the stock now or selling half of the stock now and half of the stock in january of next year. mary will receive a salary of $80,000 for
Complete question:
Losses are subject to limitations, eligibility tests, and exclusions based on a number of conditions and factors. Consider the following scenario: Mary, a single taxpayer, purchased 10,000 shares of § 1244 stock several years ago at a cost of $20 per share. In November of the current year, Mary received an offer to sell the stock for $12 per share. She has the option of either selling all of the stock now or selling half of the stock now and half of the stock in January of next year. Mary will receive a salary of $80,000 for the current year and $90,000 next year. Mary will have long-term capital gains of $8,000 for the current year and $10,000 next year. If Maryâs goal is to minimize her AGI for the two years, determine whether she should sell all of her stock this year or half of her stock this year and half next year.
Solution:
Investment in stock = 10,000 x 20 = $200,000
Selling the stock = 10,000 x 12 = $120,000
Capital loss = 200,000 - 120,000 = $80,000
For this year Maryâs salary = $80,000
For this year capital gain = $8,000
If it is selling all its shares this year, it will be net equity loss
= 8,000-80,000= $72,000
This year will account for the gross capital gain and an extra deduction of $3,000 next year.
So her AGI will be 80,000 + 8,000 - 8,000 - 3,000 = $77,000
Now the left over capital loss 80,000 - 8,000 - 3,000 = $69,000 will carry forward to next year.
For Next year Maryâs salary = $90,000
For Next year capital gain = $10,000
Then the carry forward capital loss will offset the capital gain and additional $3,000,
So her AGI for the next year will be 90,000 + 10,000 - 10,000 - 3,000
= $87,000
Now the left over capital loss 69,000 - 10,000 - 3,000 = $56,000 will carry forward to next year.
If she sells half shares this year and other half next year, then,
Selling the stock = 5,000 x 12 = $60,000
Capital loss = 100,000 - 60,000 = $40,000
So her AGI will be 80,000 + 8,000 - 8,000 - 3,000 = $77,000
Now the left over capital loss 40,000 - 8,000 - 3,000 = $29,000 will carry forward to next year.
So her AGI for the next year will be 90,000 + 10,000 - 10,000 - 3,000 = $87,000
As she will sell half of her shares next year, the capital loss = $40,000
Now the left over capital loss for next year is 29,000 - 10,000 - 3,000 + 40,000 = $56,000 will carry forward to next year.
So in both options her AGI will remain same.
She can choose either of the option.
Decision Point: Classifying the Spa on the Service-Goods Continuum As you consider your task, you reflect on the customer experience you are working to develop. You understand that products can be placed on a service-goods continuum with purely tangible goods and purely services as endpoints. To choose the best marketing tactics, you evaluate The Spa at Verdure's position on the continuum. Which classification most accurately represents The Spa's position on the service-goods continuum?
Answer:
The answer options for this question are as follows:
a) Mostly a tangible good
b) Purely a tangible good
c) Mostly a service
d) Purely a service
The correct answer is c) Mostly a service
Explanation:
Goods and services are goods, objects and activities that seek to meet the needs of people. These are the result of a productive process carried out by economic agents.
The SERVICE is the application of human or mechanical efforts to people, animals or objects. That is, they can be produced by people, such as dental services, or by a machine, such as the ATM service. They are intangible products, which cannot be perceived previously by the senses, that is, they cannot “feel” and, therefore, evaluate their quality or not, until they are used.
The main characteristics of the services are as follows:
Intangibility: It is the main feature of the services, it is based on the fact that they cannot be tested, cannot be smelled or touched without making the purchase of it. Variability: The services are always different from each other there are never 2 equal services, the reason for this is that the delivery of the service is performed by a person or a staff in different places and times, when changing any of these aspects and the service does not is the same. Inseparability: The services provided are not separated from the one receiving the service, the process is simultaneous.
Final answer:
The Spa's position on the service-goods continuum can be classified as c) Mostly a service which considers green products/services, and horizontal differentiation.
Explanation:
Spas provide personalized treatments and experiences that customers receive in real-time, which are intangible benefits. The Spa at Verdure's position on the service-goods continuum can be classified as:
Services: The Spa primarily offers services such as massages, facials, and spa treatments, where customers pay for intangible experiences and the skills of professionals.Hybrid products: If The Spa incorporates sustainable practices like using environmentally friendly products or energy-efficient services, it can be classified as providing green services.Horizontal differentiation: The Spa may differentiate itself based on unique experiences or branding, falling under horizontal differentiation in the market.Complete Question:
Decision Point: Classifying the Spa on the Service-Goods Continuum As you consider your task, you reflect on the customer experience you are working to develop. You understand that products can be placed on a service-goods continuum with purely tangible goods and purely services as endpoints. To choose the best marketing tactics, you evaluate The Spa at Verdure's position on the continuum. Which classification most accurately represents The Spa's position on the service-goods continuum?
a) Mostly a tangible good
b) Purely a tangible good
c) Mostly a service
d) Purely a service
The difference that arises between the balance on the bank statement and the balance on the company's books because of a time lag in recording transactions is known as a permanent difference. True or false?
Answer:yes
Explanation:
Answer: d
Explanation:
Suppose Pump-U-Up lowers the price of its gym membership by 10 percent and as a result, Sweat-It-Out experienced a 16 percent decline in its gym membership. What is the value of the cross-price elasticity
Answer:
The Cross elasticity of demand will be the change in demand at Sweat-it-out divided by the change in price at Pump-U-Up
=-0.16/-0.1
= 1.6
Explanation:
The Price decrease from Pump-U-up = 10%
And the resultant decline in Gym membership at sweat-it-out is 16%
The Cross elasticity of demand will be the change in demand at Sweat-it-out divided by the change in price at Pump-U-Up
=-0.16/-0.1
= 1.6
A Positive Cross - Price elasticity indicates both Gyms are close substitutes of one another.
An attempt by one to lower its price will directly impact negatively in membership of the other.
The strategy often adopted in such line of Business is to keep prices at Par or offer distinctive services outside of the traditional, e.g include a Spar into the gym membership, or access to discounted toning or body building products etc.
Final answer:
Cross-price elasticity measures how the quantity demanded of one product changes in response to the price change of another product. In this case, the cross-price elasticity of demand is 1.6, meaning there's a positive relationship between the two gym memberships, as they are substitutes.
Explanation:
Calculating the cross-price elasticity of demand, which provides insight into how the demand for one product (gym membership of Sweat-It-Out) is affected by the price change of a related product (gym membership of Pump-U-Up). In this case, the price of Pump-U-Up gym membership was lowered by 10 percent, leading to a 16 percent decrease in the membership of Sweat-It-Out. To find the cross-price elasticity, we apply the formula:
Cross-price elasticity of demand = (% Change in Quantity Demanded of Good B) / (% Change in Price of Good A)Here, the cross-price elasticity of demand would be:
(-16%) / (-10%) = 1.6This implies that the gym memberships for Pump-U-Up and Sweat-It-Out are substitutes, as indicated by a positive cross-price elasticity.
Ned's office was flooded when a water pipe burst. Office furniture that had been purchased at a cost of $6,000, and on which Ned had deducted $2,000 of depreciation, was damaged by the water. The fair market value of the furniture before being damaged was $5,000, and afterward was $2,000. Ned was reimbursed $2,000 by insurance. Ned's casualty loss deduction is:
Answer:
$1,000
Explanation:
The casualty loss here can be calculated using the fair value of the asset.
Casualty loss = (Fair Market Value - Insurance received) - Market Value left
Here the fair market value before loss occurrence was $5,000, insurance was $2,000 and the fair market value left was $2000. So by putting the values in the above equation we have:
Casualty loss = ($5,000 - $2,000) - $2,000 = $1,000
Which sequence correctly summarizes the accounting process? A. Journalize transactions, post to the accounts, prepare a trial balance B. Prepare a trial balance, journalize transactions, post to the accounts C. Journalize transactions, prepare a trial balance, post to the accounts D. Post to the accounts, journalize transactions, prepare a trial balance
Answer:
A. Journalize transactions, post to the accounts, prepare a trial balance
Explanation:
The Transaction are Journalized first and the these are posted to the relevant account after that according to their nature of account and debit credit impact to each account. At the end of the period all the closing balances of the account are calculated and listed in the trial balance from where we start to make our financial statements. So the correct sequence for the accounting process is Journalize transactions, post to the accounts, prepare a trial balance.
The accurate sequence for the accounting process is First, Journalize transactions i.e., record daily financial transactions, Second, Post to the accounts which involves transferring the journal entries to individual ledger accounts, and finally, Prepare a trial balance. This involves creating a list of all accounts and their balances which checks the mathematical accuracy.
Explanation:The correct sequence for the accounting process is: A. Journalize transactions, post to the accounts, prepare a trial balance. This sequence adheres to general accounting principles. It begins with Journalize transactions, which consists of recording the day-to-day financial transactions of the business. After recording these transactions in a journal, the next step is to post to the accounts. This involves transferring the journal entries to the respective accounts in the general ledger. The final step is to prepare a trial balance which lists all the accounts in the general ledger and their balances. This provides a check on the mathematical accuracy of the books.
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An empirical researcher identifies the effect of drug use on high school dropout rates by examining how the two variables changed over the 1980s and 1990s. This empirical approach can best be characterized as:
time series analysis.
Answer: True- Time series analysis
Explanation:
Yes, the given answer is correct as the time series analysis is one of the type of method in which the data are get analyze in order to extract some useful statistics information from the given data.
The main purpose of the time series analysis is that it helps in identifying the various types of variance in order to determining the various types of factors in the given observed information.
According to the given question, the empirical approach is used for characterized as the time serves analysis based on the given observation. Therefore, Time series analysis is the correct answer.
Sasha has run a small diner near the train station for the past ten years. Six months ago, a chain restaurant serving gourmet burgers and sandwiches opened up near him and he has had to re-think his menu. He added some specialty sandwiches and free fries with every burger in order to retain his customers. Which of Porter's five competitive forces has affected Sasha's business?
Answer:
threat of new entrants
Explanation:
Based on the information provided within the question it can be said that force that has affected Sasha's business, from Porters five forces was the threat of new entrants. This force refers to the threat that comes from new competitors entering an industry with existing competitors. If the barrier to entry of the market is low/easy for these new companies then it creates a huge threat to the existing company's since it allows them to get established in the market fast and at a low cost.
SPL Enterprises assigns overhead based on number of machine hours. For the upcoming year, they plan to use a total of 250,000 machine hours and 50,000 direct labor hours. Total overhead cost is expected to be $500,000. The predetermined overhead rate per machine hour is $
Answer:
Predetermined overhead rate for machine hour = $2
Explanation:
We know,
predetermined overhead rate for machine hour = [tex]\frac{total overhead cost}{total machine hour }[/tex]
Given,
Total overhead cost = $500,000
Total machine hours = 250,000
Putting the values into the formula, we can get [tex]\frac{500,000}{250,000}[/tex]
predetermined overhead rate for machine hour = $2
We know the predetermined overhead rate is calculated to determine the estimated cost of manufacturing overhead or indirect cost to various cost pools.
The predetermined overhead rate per machine hour for SPL Enterprises is calculated as $2. This rate is computed by dividing the total expected overhead costs ($500,000) by the total planned machine hours (250,000 hours).
Explanation:The question pertains to the computation of the predetermined overhead rate per machine hour in cost accounting for SPL Enterprises. This rate is determined by dividing the total overhead costs by the total machine hours. In this case, SPL Enterprises expects total overhead costs of $500,000 and plans to use 250,000 machine hours in the upcoming year. Thus, the predetermined overhead rate would be $500,000 / 250,000 = $2 per machine hour. That means, for each hour a machine is operated, an overhead cost of $2 is assigned to the respective product or job.
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The __________ of the procure-to-pay cycle is ordering; the most common way the ordering step begins is through the release of a purchase order. A purchase order (PO) is simply a document that authorizes a supplier to deliver a product or service and often includes terms and conditions, such as price, delivery, and quality requirements.
Answer:
The FIRST STEP of the procure-to-pay cycle is ordering;
Explanation:
The procure to pay cycle is the set of activities required to follow through a buying process in a company, it includes identifying the need, looking for and assigning a vendor, approving the vendor's specifications, receiving the supplies and finally paying the money owed to the vendor. This process consists of five steps:
ordering follow up and expediting receipt and inspection settlement and payment records maintenanceHealth care spending in the United States is forecasted to be as much as $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy. Currently, health care spending is roughly $2.7 trillion. How is this cost paid for most Americans?
Answer:
The cost is paid through Private health insurance for most Americans.
Explanation:
Insurance in America is must for everyone, it is because by taking an insurance, not only the high cost of health care can be avoided but multifarious benefits can also be taken by the insurer. If a person becomes sick, then he does not need to pay but rather the insurance company will pay on his behalf. in order to rake insurance, it is necessary to pay some top y amount or insurance amount to the insurance company.
If the sum of the Ending Balance(s) in the revenue account(s) is greater than the sum of the Ending Balances in the expense accounts, then Retained Earnings will increase as a result of the closing entries.a) trueb) false
Answer:
True
Explanation:
The closing entries are as follows
1. . Sales Revenue A/c Dr XXXXX
To Income Summary A/c XXXXX
(Being revenue account closed)
2. Income Summary A/c XXXXX
To Expenses A/c XXXXX
(Being the expenses account are closed)
3. Income summary A/c Dr XXXXX
To Retained earning A/c XXXXX
(Being the difference is credited to retained earning i.e we called profit )