Answer:
d. $24,000
Explanation:
A divorce agreement is a contract that is formed between a husband and wife that states conditions under which they are dissolving their marriage. It includes the terms that they will both agree to fulfil on marriage dissolution.
Once the contract is signed by both parties it becomes binding on them.
Under the alimony terms the amount that will be included as gross income deduction is the amount that is going to the recipient.
In this case the $2,000 for 12 months. The $500 will be paid as child support and not included in the gross income deduction.
Child support payments are not included in alimony.
Gross income deduction= 2,000* 12= $24,000
Answer:
B. $ 30,000
Explanation:
Given:
Monthly payments deducted
Child support = $ 500
Alimony = $ 2000
1 year = 12 months
Total amount payable in 1 year = child support in 2017 + alimony in 2017
= ($500 × 12) + ($2000 × 12)
= $6000 + $ 24000
= $30000
If QuickStart does not want to make refunds for more than 7% of its batteries under the full-refund guarantee policy, for how long should the company guarantee the batteries (to the nearest month)?
Answer: quickstart batteries will need to be guaranteed for 26 months
Explanation:
the question is incomplete to calculate guarantee period given the maximum refund percentage of 7% we need the mean average life of Quick start batteries and a standard deviation. Let us assume that the mean average life of quickstart batteries is 36 months and standard deviation is 7 months.
P(Z < z*) = 0.07 has a z* = -1.48 [from the Standard Normal table]
Answer = 36 + (-1.48)(7) = 25.64 = 26 months or approximately 35 months
George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a paper. On the decided day, Suzy pays the cash to George, but he refuses to sell the car to her saying that his friend Marty has offered to pay $30,000 for the same car. On the basis of which doctrine can Suzy sue George?
a. Quasi-contract
b. Implied contract
c. Partially executed contract
d. Both (a) and (b).
e. Promissory estoppel
Answer:
Promissory estoppel
Explanation:
Promissory estoppel means that in legal tenet that a promise or pledge can be enforced by law, actually if formulated without legal consideration, if the George now the (promisor) has made a pledge to a Susy the (promises) who then depends on that promise for a subsequent detriment. So what Promissory estoppel is expected to do is to stop the (George) promisor from insisting that an underlying promise should not be legally authorized or implemented. So Susy can sue George on the basis of promissory estoppel and get a reward for George's disappointment
Laura budgets $54 each month for annual expenses. She nets $1820 semimonthly.What percent of her net monthly income does she budget for annual expenses?
Answer:
14.83%
Explanation:
Laura budgets $54 each month for annual expenses. She nets $1820 semimonthly.What percent of her net monthly income does she budget for annual expenses?
$1820 semimonthly = 1820 x 2 monthly = $3,640
Annual expenses budget = $54
Percentage of her net monthly income budgeted for annual expenses = (54 / 3, 640) x 100 = 14.83%
Answer:
What percent of her net monthly income does she budget for annual expenses?
1%
got it right on the test :)
Explanation:
Whenever Jane is successful she takes full credit for what has happened, but whenever she is unsuccessful she attributes her failure to bad luck or blames one of her fellow employees. She is guilty of:________. .A) fundamental attribution errorB) attribution biasC) the halo effectD) distinctivenessE) self-serving bias
Answer:
E) self-serving bias
Explanation:
Self-serving bias is a type of cognitive bias in which an individual tends to attribute positive and favorable outcomes as consequences of their own action or quality, while they tend to absolve themselves if the case of any negative outcome or events that are not favorable, hence, they attribute such to the action of others or external forces. People who exhibit this cognitive bias, usually do so to boost their confidence or enhance their self-esteem.
Answer: Self serving bias.
Explanation:
Jane has a self serving bias, therefore this make her always want to blame her failures on any other factor except herself. An individual with a self serving bias finds it very easy to claim that they are responsible for their success, and easy to blame failures and setbacks they experience on external factors.
Assume a central bank exchanges its currency for other foreign currencies in the foreign exchange market, but does not adjust for the resulting change in the money supply. This is an example of:
Answer:
nonsterilized intervention
Explanation:
Based on the information provided within the question it can be said that this scenario is a direct example of nonsterilized intervention. This term refers to when central banks attempt to influence the exchange rates by refusing to buy or sell assets or currencies which in term allows the money supply to stay the same .
Courtney is a self-employed consultant (a business activity). This year her consulting activity generated $19,500 of revenue and incurred $1,500 in expenses. How does she report the revenue and deductions from the activity?
Answer:
Revenue and expenses is recorded on Schedule C
Net income is recorded on front page (line 12) of her individual tax return
Explanation:
Courtney records the revenue of her consultancy or business activity as income and records the expenses of her consultancy or business activity for AGI on her Schedule C. She will record her net income given by the diffence between the revenue and expenses
Mathematically.
net income = revenue - expenses
net income = $ (19,500 - 1,500) = $ 18,000
Her net income of $ 18,000 from her consultancy or business activity is recorded on the front page (line 12) of her individual tax return
An organization has recently suffered a series of security breaches that have significantly damaged its reputation. Several successful attacks have resulted in compromised customer database files accessible via one of the company's web servers. Additionally, an employee had access to secret data from previous job assignments. This employee made copies of the data and sold it to competitors. The organization has hired a security consultant to help them reduce their risk from future attacks.
What would the consultant use to identify potential attackers?
A. Asset valuation
B. Threat modeling
C. Vulnerability analysis
D. Access review and audit
Answer:
B.
Explanation:
Threat Modeling is the process of identifying and optimizing network security. This practice helps to find the possible threats to confidential information.
Threat Modeling is used to protect the systems. In this practice, the consultant identifies the enterprise's assets and analyze the work of all applications. Then it sets the security profile on all applications and documenting adverse effects of it.
In the given scenario, the consultant will use the tool or technique of threat modeling to identify the potential attackers.
So, the correct answer is option B.
To identify potential attackers after a series of security breaches, the most effective method is using threat modeling. This approach involves understanding the adversaries, their goals, and tactics, allowing an organization to tailor defensive measures against specific threats. It's key in establishing effective security protocols and preventing future incidents.
Explanation:When an organization suffers from security breaches, identifying potential attackers is crucial to safeguarding against future incidents. The best tool to use for identifying potential attackers is threat modeling. This process involves understanding who the adversaries are, their resources and capabilities, and the strategies and tactics they employ to carry out attacks. By analyzing who is likely to attack, why they might attack, and how they might carry out these attacks, organizations can better protect their sensitive data and systems.
Threat modeling considers various surveillance risks, starting with identifying the adversary. This approach is strategic because it allows for tailored defensive measures based on the specific threats an organization faces. Whether the threat comes from a competitor, a hacker, or another entity, understanding the adversary's possible methods and motives is a critical step in establishing effective security protocols.
By focusing on the adversary, organizations can employ protective behaviors and technologies that directly counteract the identified risks. In the context of the scenario provided, threat modeling would help the organization analyze the recent breaches, understand the methods used by the attackers, and implement stronger security measures to prevent similar incidents in the future.
A logical data flow diagram: does not include any primitive processes. is a model of how the business operates. includes types of programs, such as online or batch. is a model of how the system will be implemented.
Answer:
Is a model of how the system operates
Explanation:
A logical data flow diagram focuses on the business and how the business operates. It describes the business events that take place and the data required and produced by each event.
A logical data flow diagram is a tool used in system analysis and design. It models how a business operates by providing a high-level view of the overall system and its business processes, rather than specifying details about how the processes are carried out or the types of programs used.
Explanation:A logical data flow diagram is a tool that is commonly used in systems analysis and design. In contrast to physical data flow diagrams (DFDs), a logical data flow diagram primarily focuses on the system’s business processes. It does not include detailed information such as any primitive processes or types of programs like online or batch. Instead, a logical DFD models how a business operates, rather than how the system will be implemented.
Thus, logical data flow diagrams focus on the business and what its procedures are. They provide a bird's eye view of the overall system before going into the system's minor details. However, they do not specify details about how the processes are carried out;
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Austin Limited is trying to determine the value of its Austin Limited is trying to determine the value of its ending inventory as of February 28, 2014, the company’s year-end. The following transactions occurred, and the accountant asked your help in determining whether they should be recorded or not. (a) On February 26, Austin shipped goods costing $800 to a customer and charged the customer $1,000. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2. (b) On February 26, Louis Inc. shipped goods to Austin under terms FOB shipping point. The invoice price was $450 plus $30 for freight. The receiving report indicates that the goods were received by Austin on March 2. (c) Austin had $650 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10. (d) Also included in Austin’s warehouse is $700 of inventory that Ryhn Producers shipped to Austin on consignment. (e) On February 26, Austin issued a purchase order to acquire goods costing $900. The goods were shipped with terms FOB destination on February 27. Austin received the goods on March 2. (f) On February 26, Austin shipped goods to a customer under terms FOB destination. The invoice price was $350; the cost of the items was $200. The receiving report indicates that the goods were received by the customer on March 2. Instructions For each of the above transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount.
Answer:
(a) Austin shipped goods FOB Shipping
Goods worth $ 800 is not to be included in inventory, as the title of the goods have passed to the buyer on shipping
Not to be included
(b) Louis Inc shipped goods to Austin on FOB shipping point worth $ 450 plus $ 30 for freight.
Austin is to record $ 450 as part of is inventory as the title has passed to Austin at shipping. The cost of freight is to be included as a cost by Austin as freight in.
To be included $450
(c) Designated for a customer $ 650 isolated in the warehouse to be shipped later.
This is not to be include In Austin inventory as the goods are kept on behalf of the customer. The goods are owned by the customer
Not to be included
(d) Austin had $ 700 goods kept on consignment in the warehouse.
Consignment goods are not part of the inventory of Austin (consignee) as the goods title is still with consignor
Not to be included
(e) Goods ordered on FOB Destination for $900
Not part of the inventory of Austin as goods title will only be passed when the goods reach Austin as the inventory is FOB destination
Not to be included
(f) Goods shipped on FOB destination $ 200 cost and selling price $ 350
Goods are still to be included in the inventory at $ 200 as the title will pass when the goods reach the destination
To be included $200
To determine whether the items should be included in Austin Limited's ending inventory, it depends on the shipping terms and the risk of loss transfer. Goods shipped under FOB shipping point to Austin are included at their invoiced cost plus any freight. Meanwhile, goods sent to customers under FOB destination or on consignment are not included in Austin's inventory.
Austin Limited is trying to determine the value of its ending inventory for the year-end on February 28, 2014. The inclusion of items in the inventory is dependent on the risk of loss transfer and the terms of shipping. Here's a breakdown of each transaction:
(a) FOB shipping point: The transaction is included in the customer's inventory as of February 28, because the risk of loss transfers to the customer once the goods are shipped. Austin Limited would not include this in its ending inventory.(b) FOB shipping point: These goods would be included in Austin's ending inventory, because the risk of loss passes to Austin when the goods are shipped. The inventory would be recorded at $480 ($450 + $30 freight).(c) Inventory designated for a customer: This inventory would still be included in Austin's ending inventory because the goods haven't been shipped nor has the risk of loss transferred. They should be valued at $650.(d) Consignment inventory: Goods on consignment should not be included in Austin's inventory. These goods remain the property of the consignor (Ryhn Producers) until sold.(e) FOB destination: These goods would not be included in Austin's ending inventory because they are still in transit and the risk of loss remains with the seller until the goods reach Austin's location.(f) FOB destination: The risk of loss has passed to the customer upon delivery (March 2), so this inventory is not included in Austin's ending inventory as of February 28.Remember, when determining whether an item should be included in ending inventory, it is crucial to consider the terms of shipping and when the risk of loss transfers from seller to buyer.
In addition to the following closing costs listed below, the buyer pays a realtor commission that is 3.5% of the loan amount. Closing Cost Charge Loan origination $280 Title insurance $476 Attorney’s fees $675 Inspection $200 Recording fees $118 Escrow $573 If the loan amount is $165,000, how much was paid at closing?
Answer:
d.
$8,097
Explanation:
If you manage a 200-room hotel, and only sell 150 rooms tonight, you can't stockpile the extra 50 rooms to sell tomorrow. This is a problem with the ________ of services.
Answer: Perishability
Explanation: Perishability of services implies that service capacity cannot be stored, saved, returned, or resold once rendered to a customer and perishability can affect company performance as balancing supply and demand is very difficult.Perishability is the services that cannot be stored, saved, returned, or resold once they have been used. Furthermore, once the service is rendered to a customer, the service is completely consumed and cannot be delivered to another customer.
The competitive firm's short-run supply curve is its A. marginal cost curve. B. marginal cost curve, but only the portion above the minimum of average total cost. C. marginal revenue curve, but only the portion where marginal revenue exceeds marginal cost. D. marginal cost curve, but only the portion above the minimum of average variable cost.
Answer:
B. marginal cost curve, but only the portion above the minimum of average total cost.
Explanation:
A competitive firms short-run supply curve is a segment of the marginal cost and lies above the average variable costs and if a short run firm decides to shut down its prices of the goods is less than the average variable costs of production.The short-run supply curve of a competitive firm is its marginal cost curve. It is option A.
The correct answer is A. marginal cost curve. In the short run, the supply curve of a competitive firm is determined by its marginal cost curve.
This is because in the short run, a competitive firm aims to maximize its profits by producing where marginal cost equals marginal revenue.
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An investigator locates the scene that should be observed, anticipates the action that is most likely to occur at the scene, and keeps detailed notes on all activities involving the suspect. Which type of surveillance is being used here? a. Stationary surveillance b. Static surveillance c. Moving surveillance d. Electronic surveillance
Answer:
Stationary surveillance
Explanation:
Where a crime has been committed and there is a need for an investigation, the investigator will locate the crime scene and observe the scene for proper recordings. Stationary surveillance is usually installed around in the form of a hidden camera for the investigator to be able to know what happened or occurred at the scene. So where a crime has been committed, the investigator will proceed to the crime scene and retrieve the installed stationary surveillance in form of a camera that must have been hidden somewhere around the crime scene to get a piece of detailed information about the suspect and everything needed for the investigation.This stationary surveillance records images and videos of people, suspects and activities around the crime scene and the investigator will be able to know the activities that occur when he was not there.
Belle, a nongovernmental not for profit organization, received funds during its annual campaign that were specifically pledged by the donor to another nongovernmental not for profit health organization. How should Belle record these funds
Answer: First, we will add the options:
A. Increase in assets and increase in liabilities.
B. Increase in assets and increase in revenue.
C. Increase in assets and increase in deferred revenue.
D. Decrease in assets and decrease in fund balance.
Correct option is A.
Explanation: This is because Belle is acting as an intermediary in this scenario, therefore it the donation will initially be recorded as an asset, because it is a plus for the company.
However, we must not forget what the purpose of this donation is for, which is meant to be given to a nongovernmental not for profit health organization.
Therefore be this would also be recorded as a liability because Belle is owing the not for profit health organization.
Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him and says, "actually, this concert will cost you more than $60 since you have to miss work." His friend is referring to the _________________.
Full question:
Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him and says, "actually, this concert will cost you more than $60 since you have to miss work." His friend is referring to the _________________.
Select the correct answer below:
a)economies of scale
b)budget constraint
c)opportunity cost
d)opportunity set
Answer:
His friend is referring to the opportunity cost
Explanation:
Opportunity costs describe the gains a person, investor or company drops out on when picking one choice over another. The cost of practicing something is previously the cost of the highest-valued alternative use. Bottlenecks are frequently a condition of opportunity costs.
The method for determining an opportunity cost is solely the contrast within the expected returns of any option. Estimating opportunity costs can lead you to more effective decision-making. Opportunity cost examination also performs a crucial role in preparing a business's capital structure.
Final answer:
Bobby's friend is alluding to the 'opportunity cost,' which includes the explicit cost of $60 for the ticket and the implicit cost of the income foregone by not attending work. It represents the true economic cost of Bobby's decision to attend the musical instead of working.
Explanation:
Bobby's friend is referring to the concept of opportunity cost. Opportunity cost is the value of the next best alternative that one gives up when making a decision. In this scenario, the opportunity cost for Bobby attending the musical includes not only the price of the ticket but also the money he would have earned had he gone to work instead.
For example, if Bobby earns $100 by working for a day and he decides to take a day off to attend a musical which costs him $60, the total cost of attending the musical is actually $160 ($60 for the ticket plus the $100 he foregoes from not working). Therefore, while the explicit cost is $60, the opportunity cost (which includes both explicit and implicit costs) is significantly higher.
This concept is essential in both personal finance and business decisions as it helps individuals and companies assess the true cost of their choices, enabling them to make more informed decisions on how to allocate their resources most efficiently.
Last year, Jose had to invest. He invested some of it in an account that paid simple interest per year, and he invested the rest in an account that paid simple interest per year. After one year, he received a total of in interest. How much did he invest in each account? First account: Second account:
Answer:Please refer to the explanation section
Explanation:
The question is incomplete. We do not have the rate interest for both accounts. We also do not know how much is invested in each account. The question also has a typo, the question says "he invested some of it in an account that paid simple interest per year and invested the rest in an account that paid simple interest per year". We will make some assumption in order to provide a proper solution to this question
Assumptions:
Firstly we will assume he invested in a simple interest account and a compound interest account. assume
The total investment is $1000. $5000 is invested in each account.
Therefore the Present Value (PV) is $5000 for both accounts
Interest rate (R) is 10% per year for simple interest and 10% per per year Compounded monthly for compound interest account
Period (n) = 1 year
Simple Interest Account
Future Value (Simple Interest) = P(1 + Rn)
Future Value (Simple Interest) = $5000(1 + 0.10 x 1) = $5500
Interest from Simple interest account = 5500 - 5000 = $500
Compound interest Account
Future Value (Compound interest) = P(1 + R)^n
Future Value (Compound interest) = $5000(1 + 0.10/12)^12 = 5523.565337
Interest form Compound interest account = 5523.57 - 5000 = $523
compound interest account earned more interest than Simple interest Account
Answer:
Jose invests $9,000 in the first account and $1,000 in the second account.
Explanation:
let A = amount invested in first account
let B = amount invested in second account
0.08A + 0.05B = 770
A + B = 10,000
B = 10,000 - A (now replace B)
0.08A + 0.05(10,000 - A) = 770
0.08A + 500 - 0.05A = 770
0.03A = 770 - 500 = 270
A = 270 / 0.03 = 9,000
B = 10,000 - 9,000 = 1,000
Beats Electronics has been able to outperform Audio-Technica, Bose, JBL, Skullcandy, Sennheiser, and Sony in the high-end, premium headphone market. Which of the following statements accurately explains one of the main reasons for the success of Beat? A. It produced the highest-quality headphones.B.It created a perception that owning its products was cool.C. It emphasized marketing over core competency.D. It focused on sponsoring future athletic superstars.
The main reason for the success of the Beats Electronics is: B. it created a perception that owning its products was cool.
Explanation:
Beats Electronics was able to outperform in the premium headphone market. They were able to out-stand from their competitive companies like JBL, Bose, Audio-Technica, Skullcandy and Sennheiser.
Beats Electronics made their customers to believe that owning their product is cool. They created a perception to the customers which made them to lead in the market.
Perception refers to the way the information is conveyed to others. Beat Electronics followed this strategy and made their customers to feel that owning their product is cool.
The main reason for Beats Electronics' success is its effective marketing strategy that created a desired image and positioned its headphones as a status symbol, rather than simply producing the highest quality product.
Explanation:The success of Beats Electronics in outselling other premium headphone brands like Audio-Technica, Bose, JBL, Skullcandy, Sennheiser, and Sony can be attributed to a variety of factors. One of the main reasons, however, is not necessarily the production of the highest quality headphones but rather the successful branding strategy that Beats implemented. Beats created a perception that owning its products was cool and desirable, a strategy very effective among its target market.
Part of their strategy was a broad and well-executed marketing plan that portrayed the headphones as a status symbol among celebrities and music enthusiasts. Furthermore, the company strategically used product placements and celebrity endorsements to enhance its brand value. This type of marketing makes consumers associate the headphones with a certain lifestyle and image, which can significantly drive sales.
Although Beats did sponsor athletes, which contributed to its visibility, it is the overall marketing approach and the cultural appeal the brand managed to achieve that is often singled out as a critical factor for their success.
An ideal prospect for a universal life insurance policy is someone who foresees a possible future need to adjust the amount of the death benefit and/or the premium for the policy. Also, the prospect should understand all of the following key terms of such a policy EXCEPT:_______.1. The policy holder does not control investment in policy and hence no investment risk.2. The cash value accrue based on credited interest that changes annually but subject to a minimum credit rate. 3. The death values may only adjusted up and down at certain times stated in the policy.4. The premium payments are deposited into separate account of the life insurance company.
Answer:
The correct answer is 4
Explanation:
Universal life insurance is the insurance which is an element of the investment savings and the low premiums such as the term life insurance. These policies have a option of the flexible premium and however, some of the policies require fixed premiums or the single premium.
So, the ideal prospect of the policy states that the premium payments are deposited into the General account of the life insurance company not in the separate account. These policy control the investment not the policyholders.
This morning, DJ’s invested $238,000 to help fund a company expansion project planned for three years from now. How much additional money will the firm have three years from now if it can earn 4 percent rather than 3.5 percent on its savings?
Answer:
$3,842.78
Explanation:
We must determine the future value of the money invested and then calculate the difference between both return rates. We can use the future value formula: FV = present value x (1 + return rate)ⁿ
3.5% ⇒ FV = $238,000 x (1 + 3.5%)³ = $238,000 x 1.035³ = $263,874.85
4% ⇒ FV = $238,000 x (1 + 4%)³ = $238,000 x 1.04³ = $267,717.63
difference = $267,717.63 - 263,874.85 = $3,842.78
What is the expected value when a $1 lottery ticket is bought in which the purchaser wins exactly $10 million if the ticket contains the six winning numbers chosen from the set {1, 2, 3,…, 50} and the purchaser wins nothing otherwise?
We expect to lose $0.37 per lottery ticket
Explanation:
six winning numbers from = { 1, 2, 3, ....., 50}
So, the probability of winning:
[tex]P(win) = \frac{ no of favorable outcomes}{no of possible outcomes}[/tex]
[tex]P(win) = \frac{1}{^5^0C_6} \\\\P (win) = \frac{6! X (50 - 6)!}{50!} \\\\P(win) = \frac{6! X 44!}{50!} \\\\P(win) = \frac{1}{15,890,700}[/tex]
The probability of losing would be:
P(loss) = 1 - P(win)
[tex]P(loss) = 1 - \frac{1}{15,890,700} \\\\P(loss) = \frac{15,890,699}{15,890,700}[/tex]
According to the question,
When we win, then we gain $10 million and lose the cost of the lottery ticket.
So,
$10,000,000 - 1 = $9,999,999
When we lose, then we lose the cost of the lottery ticket = $1
The expected value is the sum of the product of each possibility x with its probability P(x):
E(x) = ∑ xP(x)
[tex]= 9,999,999 X \frac{1}{15,890,700} + ( -1 ) X \frac{15,890,699}{15,890,700} \\\\=- \frac{5,890,700}{15,890,700} \\\\= - \frac{58,907}{158,907} \\\\= - 0.37[/tex]
Thus, we expect to lose $0.37 per lottery ticket
The expected value when buying a $1 lottery ticket that offers a $10 million prize if the ticket contains the six winning numbers chosen from the set {1, 2, 3,..., 50} and nothing otherwise is $0.63.
Explanation:The expected value when buying a $1 lottery ticket that offers a $10 million prize if the ticket contains the six winning numbers chosen from the set {1, 2, 3,..., 50} and nothing otherwise can be calculated.
To find the expected value, we multiply the probability of winning ($10 million) by the probability of losing (zero). Since there is only one winning combination out of a total of 50 choose 6 combinations, the probability of winning is 1/15,890,700. The probability of losing is 1 - 1/15,890,700 = 15,890,699/15,890,700. Therefore, the expected value can be calculated as:Expected Value = ($10 million) * (1/15,890,700) + (0) * (15,890,699/15,890,700)
Simplifying this expression gives:Expected Value = $0.63
Therefore, the expected value when buying this $1 lottery ticket is $0.63.
In their chief role of _________, operations managers exert considerable influence over the degree to which the goals and objectives of the organization are realized.
In their chief role of decision maker or planner, operations managers exert considerable influence over the degree to which the goals and objectives of the organization are realized.
Explanation:
Planned decision making is one of the most vital managerial process. The steps involved in framing preparation of decision establishing are as follows,
Exploring the decision situationDetermining the value of the decisionIdentifying and confirming stakeholdersConsidering connected decisionsThe steps included in defining success of the decision making are,
Identifying guiding requirementsConsidering criteria categoriesScreening the criteriaPrioritizing the criteriaThe following are the final steps of decision making process,
Planning data gatheringMapping the issues or concerns that are to relevant decisionsManaging the framingPlanned decision making is the crucial process in every business entity. This helps in the forward movement of the business.
Operations managers play a critical role in planning and controlling operations, thereby substantially influencing the organization's ability to meet its objectives. Their decisions on production targets, resource allocation, and quality control have a direct impact on the company's success.
Explanation:In their chief role of planning and controlling operations, operations managers exert substantial influence over the degree to which the goals and objectives of the organization are realized. As operating managers, they are directly responsible for managing and coordinating all production or service provision activities. They set objectives, ensure quality standards, monitor productivity, and track the efficiency of operations. Their decisions significantly impact the organization's ability to achieve its goals.
For instance, an operations manager in a manufacturing company sets production targets, plans resources, manages inventory, ensures adherence to quality norms, and handles any issues that may arise in the production process. These decisions directly influence the company's ability to meet its production objectives and, in turn, its profitability.
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Organic Food Inc., a multinational company, relies on its media partner Radio Plus to regularly advertise its offers, sales, and new products. Radio Plus is invested in this relationship because it generates most of its revenue from advertising Organic Food's products. In this scenario, Radio Plus is Organic Food Inc.'s:_______.
A) stockholder.
B) workforce.
C) internal stakeholder.
D) external stakeholder.
Answer:
D) external stakeholder.
Explanation:
A stakeholder is an individual, a group of people, or an organization who can affect or be affected positively or negatively by your project.
Internal stakeholders are entities within a business (e.g., employees, managers, the board of directors, investors). External stakeholders are entities not within a business itself but who care about or are affected by its performance (e.g., consumers, regulators, investors, suppliers).
The country of Ambos Republic defined its currency, ambos, as being equivalent to 16 grains of "fine" (pure) gold. Assuming that there are 480 grains in an ounce, the gold par value of the ambos is
a.) 30
b.) 22
c.) 14
d.) 28
e.) 20
Answer:
A. 30
Explanation:
Given that
16 grains of fine gold = 1 ambos
480 grains in ounce
Recall that par value = face value.
Therefore
Gold par value of 480 grains of ambos
= 480 ÷ 16
= 30
. Singh Co. reports a contribution margin of $717,000 and fixed costs of $478,000. (1) Compute the company’s degree of operating leverage. (2) If sales increase by 20%, what amount of income will Singh Co. expect?
Answer:
1. 3
2. $382,400
Explanation:
The computation is shown below:
The computation of the degree of operating leverage is shown below:
= (Contribution margin) ÷ (Contribution margin - Fixed costs)
= ($717,000) ÷ ($717,000 - $478,000)
= $717,000 ÷ $239,000
= 3
Now the increase in percentage of income
= 20% × 3
= 60%
So, the expected of income is
= $239,000 × 100 + 60%
= $239,000 × 160%
= $382,400
A firm's _______ are best described as distinct and fine-grained business processes such as order taking, physical delivery of products, or invoicing customers.
Answer:
Activities.
Explanation:
A firm's activities are the various business processes that a firm engages in with the aim of making profit or meeting other organisational goals.
They are distinct and well defined processes that have laid down prcedures and policy for execution. For example when a business is replying to the order of a client for a product there are laid down guides on how to go about this. From the expected turn around time to the steps in fulfilling the order.
These policies make a business's processes unique.
Summerton high school has three open positions for teachers. the school's hr personnel review résumés to identify the candidates who meet the school's minimum requirements. next, potential candidates are then invited for interviews. after this, interviewers discuss the results with hr personnel and select a short list of candidates, who then appear before a panel of teachers and hr personnel for the final interview. summerton's new teachers are then selected from among these finalists. which of the following terms describes summerton's method of selection? a) multiple-hurdle b) model nondirective c) model leadership d) model compensatory e) model behavior f) description model
Answer:
multiple-hurdle
Explanation:
Multiple-hurdle model of selection is a personnel selection model in which applicants for a job are required to pass through a series of selection processes before they are selected. The number of applicants is therefore reduced at each “hurdle.”
Hence if Summerton high school's hr personnel
1. review résumés to identify the candidates who meet the school's minimum requirements; next,
2. potential candidates are then invited for interviews. after this,
3. interviewers discuss the results with hr personnel and select a short list of candidates, who then appear before a panel of teachers and
4. hr personnel for the final interview. summerton's new teachers are then selected from among these finalists.
The school is definitely practicing a multi hurdle selection process
Delivery costs at Hernandez, Inc. appear below for specific months of operations: Month Amount Units Produced March $20,000 16,000 April $18,000 12,000 Which type of cost are delivery costs at Hernandez?1. Mixed2. Variable3. Fixed
The delivery costs at Hernandez, Inc. vary between the months of March and April, reflecting a potential change with production levels. However, due to the limited data, it cannot be definitively concluded whether the costs are fixed, variable, or mixed. More information on how the costs behave at different production levels is necessary to determine the type of cost.
To determine what type of cost delivery costs at Hernandez, Inc. are, we can examine the data provided for the months of March and April. In March, the delivery costs were $20,000 for 16,000 units produced, and in April, the delivery costs were $18,000 for 12,000 units produced. By analyzing the costs, we can see if the costs vary with the production levels or if they remain constant regardless of the production volume.
Fixed costs remain constant regardless of the level of production or sales volume. By contrast, variable costs change in direct proportion to changes in production or sales volume. Mixed costs have both fixed and variable components.
In the case of Hernandez, Inc., as production decreases from 16,000 units to 12,000 units, the delivery costs also decrease but not in direct proportion, which may suggest that the delivery costs are not purely variable. However, without more information about how delivery costs behave at other levels of production, it is difficult to categorize them solely as fixed or variable. They could potentially be mixed costs, but the provided data points do not give enough information to conclude definitively which type they are.
During a certain six-year period, the consumer price index (CPI) increased by 50%, but during the next sis-year period, it increased by only 30%. Which of these conditions must have existed during the second six-year period?
A. Inflation
B. Stagnation
C. Conflation
D. Deflation
Answer:
D. Deflation
Explanation:
"Consumer Price Index" (CPI) measures the changes in the weighted average of prices of a market basket (consisting of consumer goods and services). It tells the cost of living for every consumer.
"Inflation" refers to the sustained increase of prices of goods and services while "deflation" refers to the sustained decrease of prices of goods and services.
In the situation above, the CPI is considered lower than before, thus deflation must have occurred during the second six-year period. It shows a negative inflation rate.
So, this explains the answer.
It is A. Inflation
An investor has money-making activities A and B available at the beginning of each of the next 5 years (call them years 1 to 5). Each dollar invested in A at the beginning of 1 year returns $1.40 (a profit of $0.40) 2 years later (in time for immediate reinvestment). Each dollar invested in B at the beginning of 1 year returns $1.70 3 years later.
In addition, money-making activities C and D will each be available at one time in the future. Each dollar investment in C at the beginning of year 2 returns $1.90 at the end of year 5. Each dollar invested in D at the beginning of year 5 returns $1.30 at the end of year 5.
The investor begins with $50,000 and wishes to know which investment plan maximizes the amount of money that can be accumulated by the beginning of year 6. Formulate the linear programming model for this problem.
Answer:
Linear programming model is 1.90 C2 + 1.70 B3 + 1.40 A4 + 1.30 D5
Explanation:
a. Decision Variables:
At = Money invested to A in t years ---- (t = 1,2,3,4)
Bt = Money invested to B t years ---- (t = 1,2,3)
C2 = Money invested to C in year 2 ----
D5 = Money invested to C in year 2 ----
R2 = Money not invested in t years ---- (t = 1,2,3,4)
b. Constraints
i) Equalities year wise
A1 + B1 +R1 = 50000 -------> Year 1
A2 + B2 +R2 = R1 -------> Year 2
A3 + B3 +R3 = 1.4 A1 + R2 -------> Year 3
A4 + R4 = 1.4 A2 + 1.7 B1 + R3 -------> Year 4
D5 = 1.4 A2 + 1.7 B2 + R4 -------> Year 5
ii) Non- Negative Constraints
At > 0 for t = 1,2,3,4
Bt > 0 for t = 1,2,3
C2 > 0
D5 > 0
Rt > 0 for t = 1,2,3,4
iii) Objective function will be = 1.90 C2 + 1.70 B3 + 1.40 A4 + 1.30 D5
You are currently searching for a new job and have decided to make cold calls to a few local businesses. Create a script that you could use that would introduce yourself, summarize your background, and explain why you are calling
Answer:
Good Morning Grace.
This is Yate.
I am calling from Boston
I recently graduated from the University of Boston with a Honors degree in Business, after which I've had 2 year's experience working with the Local Council's department of commerce.
I have researched your Firm "Lloyds Inc." and it seems an ideal place I can bring to life my skills as a Financial Analyst.
Considering the consistent influence your Business has had in the investing world I am confident building my career at Lloyds Inc would be the best choice I'm making.
Would you mind me stopping by your office before Lunch break to put in my resume and application, and then you may talk me through the openings available and the culture at Lloyds Inc or you'd rather I send my resume and application through email and we can discuss via mail.
Thank You Grace for your time.
Explanation:
Prior to making the call it would be good to have researched the company for contacts you can reach, and the line of Business they are into. Whilst also recognizing how your expertise would fit into theirs.
Once satisfied there is an alignment in your experience and the way they operate, we can go ahead and make the call.
Cold calls should be turned to warm calls by engaging positively the person at the other end without being intrusive.
You need a note pad and Pen to highlight what you what you wish to say in brief details, and the notepad would help you also document what is being said to you. Maybe a name, a phone number, an email address or other details that you may receive in the course of the call.
For sample sake, the caller is Yate and the contact in the organization is Grace.
We are making this call at 10am in the morning when the early meetings must have been concluded and everyone seems to be having a calm day going already.
Good Morning Grace.
This is Yate.
I am calling from Boston
I recently graduated from the University of Boston with a Honors degree in Business, after which I've had 2 year's experience working with the Local Council's department of commerce.
I have researched your Firm "Lloyds Inc." and it seems an ideal place I can bring to life my skills as a Financial Analyst.
Considering the consistent influence your Business has had in the investing world I am confident building my career at Lloyds Inc would be the best choice I'm making.
Would you mind me stopping by your office before Lunch break to put in my resume and application, and then you may talk me through the openings available and the culture at Lloyds Inc or you'd rather I send my resume and application through email and we can discuss via mail.
Thank You Grace for your time.
Final answer:
An effective elevator pitch introduces your background, highlights your skills and experiences, explains why you're reaching out, and ends with a proposition for further conversation. It's a concise, persuasive introduction tailored for networking, cold calls, and interviews.
Explanation:
When venturing into the job market, an effective elevator pitch is crucial for making a strong first impression. The ability to succinctly communicate your background, skills, and job aspirations to potential employers can significantly increase your chances of landing your ideal job. Here is a guide to crafting your pitch, perfect for cold calls, networking, and interviews.
Step 1: Introduce Yourself and Summarize Your Background
Hello, my name is [Your Name], and I recently graduated from [Your University] with a degree in [Your Degree]. Over the past few years, I have gained valuable experience working in [Industry/Field], specifically in roles focused on [Brief Description of Your Roles].
Step 2: Highlight What You Have to Offer
I am eager to find a position that allows me to apply and expand upon my skills in [Specific Skills or Areas], which I see as directly relevant to your company. During my time at [Previous Company/Project], I successfully managed to [Specific Achievement or Project], which I believe demonstrates my ability to contribute to your team effectively.
Step 3: Explain Why You Are Calling
The reason I am reaching out is that I've been following your company's growth and am impressed by [Something Specific About the Company]. I am particularly interested in how my background in [Your Background] can contribute to your goals, especially in [Company's Area of Need]. I would love the opportunity to discuss how I can bring value to your team and learn more about any upcoming opportunities.
Step 4: Closing with a Clear Next Step
I am very enthusiastic about the prospect of contributing to your company and would greatly appreciate the chance to discuss how my skills and experiences align with your needs. May we schedule a time for a brief conversation or meeting? Thank you for considering my application. I look forward to the possibility of working together.