Job seekers focusing solely on salary and ignoring other job offer aspects exemplifies an anchoring bias. This cognitive tendency to fixate on a single piece of information can lead to an incomplete assessment of the job's value, as it disregards other vital components such as benefits and the working environment.
Explanation:Focusing on a desired salary while ignoring other aspects of the job offer such as benefits, the job fit, and working environment, and thereby overlooking negative features of the job, is an example of an anchoring bias. Anchoring bias occurs when individuals fixate on a single piece of information—such as the initial salary figure—when making a decision. This can lead to a skewed decision-making process where other important aspects of a job offer are undervalued or ignored entirely.
Anchoring bias can impact various scenarios beyond salary discussions, including real estate choices, where a realtor may influence potential renters with initial price anchors. Similarly, in a statistical reasoning context, anchoring bias can lead individuals to rely heavily on an initially presented number, as demonstrated by Tversky and Kahneman's experiments with the number of African nations in the United Nations. To make the most informed decisions, job seekers should be aware of this bias and strive to consider all available information, not just the initial figures presented to them.
Focusing on a desired salary while ignoring other important aspects of a job, such as benefits, fit with the job, and working environment, is an example of anchoring bias. Hence option A is correct.
Anchoring bias refers to the tendency for individuals to rely too heavily on a single piece of information— in this case, the salary— while disregarding other significant details. This bias can lead to poor decision-making, similar to how in other situations, initial values or features anchor one's perceptions and affect subsequent judgments.
This situation exemplifies anchoring bias, where the job seeker focuses solely on the salary, neglecting other critical factors such as benefits and work environment. Anchoring bias can lead to poor decisions by relying too heavily on one piece of information.
Which of the following is NOT an example of central economic control:
A. Family or clan leaders.
B. Warlords.
C. Dictators.
D. Tribal chieftains.
E. All of the above are examples of central control.
Answer:
The correct answer is that none of the above mentioned options are the examples of the central economic control.
Explanation:
Central economic control, also called as the command economy, which is described as the economic system in which the central authority like the government takes the decisions of the economy in relation to the distribution as well as the manufacturing of the products.
Therefore, dictators, family lenders or the warlords, none of them are the examples of the central economic control as this system is dealt with the central authority which could be the government.
NOTE: The correct option is not stated so providing the direct answer.
Assume Metro Company had a net income of $2,100 for the year ending December 2018. Its beginning and ending total assets were $33,500 and $19,500, respectively. Calculate Metro's return on assets (ROA). (Round your percentage answer to two decimal places.)
Answer:
7.92%
Explanation:
The computation of the return on total assets is shown below:
Return on assets = (Net income) ÷ (average of total assets)
where,
Net income is $2,100
Average total assets = (Beginning total assets + ending total assets) ÷ 2
= ($33,500 + $19,500) ÷ 2
= $26,500
Now put these values to the above formula
So, the ratio would equal to
= $2,100 ÷ $26,500
= 7.92%
The Return on Assets (ROA) for Metro Company is 7.92%. This is calculated by dividing the net income by the average total assets for the year.
Explanation:The Return on Assets (ROA) is calculated by dividing the Net Income by the average total assets for the same period. The Net Income for Metro Company is $2,100. The average total assets is found by adding the beginning and ending total assets and dividing by 2. In this case, the beginning assets were $33,500 and the ending assets were $19,500. Therefore, the average total assets is ($33,500 + $19,500) / 2 = $26,500. The ROA is then $2,100 / $26,500 = 0.0792 or 7.92% when rounded to two decimal places.
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Taxes on the property Buyer Alan is purchasing are $3,200 due on December 31. If the closing is set for October 15, using the 365-day method, how much of the taxes will be credited to the buyer?A) The seller's share of $2,533.38B) The buyer's share of $666.62C) The seller's share of $2,525.76D) The buyer's share of $674.24
Answer:
C). The seller's share of $2,525.76
Explanation:
The 365-day assumes a total of 365 days in a year. So the number of days up to when the closing is set should be determined as shown;
Step 1: Determine total number of days up to October 15
Total days up to October 15=Number of days in January+number of days in February+number of days in March+number of days in April+number of days in May+number of days in June+number of days in July+number of days in August+number of days in September+number of days up to October 15
where;
number of days in January=31
number of days in February=28
number of days in March=31
number of days in April=30
number of days in May=31
number of days in June=30
number of days in July=31
number of days in August=31
number of days in September=30
number of days up to October 15=15
replacing;
Total days up to October 15=(31+28+31+30+31+30+31+31+30+15)=288 days
Step 2: Determine the amount of taxes that will be credited to the buyer
Sellers share=(number of days up to October 15/total number of days in a year)×Taxes due on December 31
where;
number of days up to October 15=288 days
total number of days in a year=365
Taxes due on December 31=$3,200
replacing;
Sellers share=(288/365)×3,200=2,524.93 which is approximately equal to 2,525.76
The seller's share of $2,525.76
The buyer's share of the taxes credited will be $2,610.46.
Explanation:To calculate the amount of real estate taxes that will be credited to the buyer, we need to determine how many days the seller owned the property and deduct that from the total taxes. Here is the calculation:
Calculate the number of days from January 1 to October 15: 31 (Jan) + 28 (Feb) + 31 (Mar) + 30 (Apr) + 31 (May) + 30 (Jun) + 31 (Jul) + 31 (Aug) + 30 (Sep) + 15 (Oct) = 298 days.Calculate the daily tax rate: $3,200 / 365 days = $8.77 per day.Calculate the amount credited to the buyer: $8.77 per day × 298 days = $2,610.46.The buyer's share of the taxes credited will be $2,610.46.
If Southwest Development Company is a sole proprietorship owned by Ms. Harper,: (Select the best answer below.) A. Ms. Harper has limited liability, which guarantees that she cannot lose more than the $25,000 she invested. B. Ms. Harper has limited liability, which is the amount of $60,000 in unpaid debts. C. Ms. Harper has unlimited liability, which means creditors can claim against her personal assets. D. Ms. Harper has unlimited liability, which means creditors can only claim against the $25,000 she invested.
Answer:
Ms. Harper has unlimited liability, which means creditors can claim against her personal assets
Explanation:
A sole proprietorship is owned and managed by one person. The owner makes all the investment decisions, suffers all the losses, and enjoys the profits by themselves. Sole proprietorships are popular due to their ease of start-up and operations.
Legally, a sole proprietorship is not a separate entity from the owner. The assets and liabilities of the business are deemed to belong to the business owner. A sole proprietor has unlimited liability to the obligations of the business. In other words, the law does distinguish between business assets and liabilities and the owner's personal proprieties. Should Mrs. Harper's business fail to pay its obligations, creditors can lay a claim on her assets to recover their money.
According to the IASB Framework, the two criteria required for incorporating items into the income statement or statement of financial position are that:_________
A) It meets the definition of relevance and faithful representation.
B) It meets the definition of an element and can be measured reliably.
C) It satisfies the criteria of capital maintenance.
D) It meets the requirements of comparability and consistency.
Answer:
A) It meets the definition of relevance and faithful representation.
Explanation:
According to IASB Framework, an asset or liability is recognised only if recognition of that asset or liability and of any resulting income, expenses or changes in equity provides users of financial statements:
a) Relevant information about the asset or liability and about any resulting income, expenses or change in equity
b) A faithful representation of the asset or liability and of any resulting income, expenses or changes in equity.
So based on the above discussion, the answer is A) It meets the definition of relevance and faithful representation.
The IASB framework has been capable of providing a relevant and faithful representation to the financial statement. Thus, option A is correct.
The International Accounting Standards Board (IASB) had issued the documentation that has been dealing with the financial statement in the year 1989. The framework has been helpful in providing the format for the external users.
The framework provides the assets and liabilities to the consumers when there have been the presence of relevant and faithful information for the income source,
Thus, the IASB framework has been capable of providing a relevant and faithful representation to the financial statement. Thus, option A is correct.
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admission to a county fair costs 20 for two adults and one child and 16 for one adult and two children. what is the cost for one adult?
Answer:
cost of 1 adult = 8
Explanation:
two adults and one child == 20
one adult and two children == 16
what is the cost for one adult?
2 adults + 1 child == 20
1 adult and 2 children == 16
if 1 adult price is x and let 1 children be y
2x + y = 20 ........(1)
x + 2y =16 .........(2)
using simultaneous equation of substitution method
eqn (1) becomes y = 20- 2x ........(3)
input eqn (3) in (2)
x + 2(20- 2x) =16 .........(4)
x + 40 - 4x = 16
40 -3x =16
-3x = 16 - 40 = -24
x == 8
since x equal 8
therefore, cost of 1 adult = 8
a company saw a drop in sales after negative publicity around a scandal involving safetry reports. the strategic changes the company makes to deal with this situation are reactive changes.
Answer:
The question is not complete, below is the complete question:
A company saw a drop in sales after negative publicity around a scandal involving safety reports. the strategic changes the company makes to deal with this situation are reactive changes?
(A) True
(B) False
Correct answer is (A) True
Explanation:
This shows that a company external environment, as an impact on the company sales of goods and services.
Final answer:
Reactive changes are strategic adjustments made in response to a crisis in business, often handled by crisis communication professionals.
Explanation:
Reactive changes are strategic adjustments made by a company in response to a crisis or negative event such as a scandal impacting its operations.
These changes aim to address the issues at hand and mitigate the damage caused by the crisis. In the business world, organizations often employ crisis communication professionals to handle such situations effectively.
S takes out a health insurance policy which contains a provision that states that the agent does not have the authority to change the policy or waive any of its provisions. Which health policy provision is this?
1. Legal Actions
2. Insurance with other insurers
3. Entire Contract
4. Reinstatement
Answer:
Option "3" is the correct answer for the following situation.
Entire Contract
Explanation:
S takes out a whole contract of medical insurance which includes a clause specifying that the provider has no power to change the contract or to remove any of its clauses.
The entire contract is a type of agreement where both sides need to deliver on the promise in a contract. The purpose of this sort of contract is to satisfy the whole of the contract. This kind of contract is also referred to as an indivisible contract.The provision in question that states the agent does not have the authority to change the policy or waive any provisions is the Entire Contract provision.
The health insurance policy provision in question is the Entire Contract provision. This element stipulates that the policy document, including any endorsements or amendments, represents the full and complete agreement between the insurer and the insured. Importantly, it also mentions that the agent does not possess the authority to change the policy or waive any of its terms. This is a critical feature designed to protect both parties by ensuring that the terms of the insurance agreement cannot be altered without formal amendments to the policy itself, thus maintaining the integrity of the contractual agreement.
In the context of managing health risks and ensuring fair practices, regulations such as the Affordable Care Act (ACA) play a pivotal role. The ACA introduced measures to prevent insurers from excluding individuals with pre-existing conditions and implemented controls on the ability of insurance companies to arbitrarily set or change insurance rates. These measures contribute to leveling the playing field for consumers, emphasizing the importance of clear, unchangeable contractual terms as outlined in the Entire Contract provision.
Leaf Co. purchased from Oak Co. a $20,000, 8%, 5-year note that required five equal annual year-end payments of $5,009. The note was discounted to yield a 9% rate to Leaf. At the date of purchase, Leaf recorded the note at its present value of $19,485. What should be the total interest revenue earned by Leaf over the life of this note?
a. $5,045
b. $5,560
c. $8,000
d. $9,000
Answer:
b. $5,560
Explanation:
The computation of the total interest revenue is shown below:
The five equal annual year-end payments = $5,009
For five years, the total amount is
= $5,009 × 5 years
= $25,045
And, the present value of recording the note is $19,485
So, the total interest revenue earned would be
= Five years amount - present value of recording the note
= $25,045 - $19,485
= $5,560
Tristan owns a local flower shop. His customers are already finding him online, but he's curious whether Google My Business can do more than just list his phone number and address. How can Google My Business help Tristan engage his customers?
a. By responding to reviews.b. By sending e-mail newsletters.c. By tracking search history.d. By collecting online payments.
Answer: By responding to reviews
Explanation:
Google my business can also help Tristan respond to reviews/comments made by customers online about his business. Google my business is a tool which business owners make use of, to make their business easily accessible when searched about online and it provides a section for reviews which a business can respond to.
G-My Business can help Tristan engage customers by allowing him to actively respond to customer reviews. Other functions, such as sending newsletters, tracking search history or collecting online payments are not available within the G-My Business platform.
Explanation:G-My Business can indeed offer Tristan additional avenues for engaging his customers beyond simply listing his contact details. Out of the options presented, option a, which is to actively respond to reviews is the way G-My Business can help engage customers. Not only does this approach allow for direct interaction with customers but it also gives Tristan an opportunity to handle any complaints publicly and demonstrate his commitment to customer service.
By responding to reviews: Tristan can use G-My Business to respond to customer reviews. This feature shows clients that their opinions are valued and that Tristan is engaged.However, it's worth noting that G-My Business doesn't offer newsletter services, search history tracking or online payment collection. For these, Tristan might need to explore other digital platforms tailored towards these purposes.
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Assume you are given the following relationships for the Brauer Corp:
Sales/Total assets 1.5X
Return on Assets (ROA) 3%
Return on equity (ROE) 3%
Calculate Brauer's profit margin and debt-to-capital ratio assuming the firm uses only debt and common equity, so total assets equal total invested capital.
Final answer:
To calculate Brauer Corp's profit margin, we use the formula (Net Income/Sales). The profit margin is 1.33/X. To calculate Brauer Corp's debt-to-capital ratio, we use the formula (Debt/(Debt + Equity)). The debt-to-capital ratio is 39.39%.
Explanation:
To calculate Brauer's profit margin, we can use the formula:
Profit Margin = Net Income / Sales
Since the return on assets (ROA) is 3%, we can determine the net income as:
Net Income = ROA * Total Assets = 3% * Total Assets
And since the sales/total assets ratio is 1.5X, we can determine the sales as:
Sales = 1.5X * Total Assets
Substituting these values into the profit margin formula:
Profit Margin = (3% * Total Assets) / (1.5X * Total Assets)
Profit Margin = 2% / 1.5X = 2/1.5X = 1.33/X
Therefore, the profit margin for Brauer Corp is 1.33/X.
To calculate Brauer's debt-to-capital ratio, we can use the formula:
Debt-to-capital Ratio = Debt / (Debt + Equity)
Given the information, we can determine the debt as the sum of reserves ($30 million), bonds ($50 million), and loans ($50 million). Therefore:
Debt = $30 million + $50 million + $50 million = $130 million
Since we know that the total assets equal the total invested capital, we can determine the total capital as the sum of deposits ($300 million) and equity ($30 million). Therefore:
Total Capital = $300 million + $30 million = $330 million
Substituting these values into the debt-to-capital ratio formula:
Debt-to-capital Ratio = $130 million / $330 million = 0.3939 (or 39.39%)
Therefore, Brauer Corp's debt-to-capital ratio is 39.39%.
Smith, CPA, is a partner of Johnson Accounting Firm. Johnson audited the books of Hometown Bank. Smith's independence would be impaired under which of the following circumstances?
Answer:
A. Smith is a Director of Hometown Bank
Explanation:
First, the multiple Options
a. Smith is a director of Hometown Bank.
b. Smith has a collateralized automobile loan with Hometown Bank.
c. Smith had an account with Hometown Bank 2 years ago.
d. Smith and a Hometown Bank board member belong to the same church.
Basically, there are 5 characteristics of an auditor whose responsibility is access the financial statement of an organisation and give a true and fair report on the state of the business. One of these characteristics is Independence and Objectivity.
When there are potential risks to the ability of the auditor to give a true and fair view of the audited books, the we say the auditor's independence is impaired.
An auditor's independence is impaired as a result of business relationship with clients. This includes any form of business association with client as manager, employee, director among others.
Based on these definitions, Smith as a director of Hometown Bank and a partner of Johnson Accounting firm risks the impairment of his independence because of the business relationship of being a Director with the client.
Which of the following should an organization do to achieve the human resource management goal of facilitating organizational competitiveness?
A. Organizations should match employee contributions to local charities.B. Incentive and reward systems should be structured in such a way that they help maintain employee motivation.C. Organizational objectives should be formulated in a way that they deal with revenue growth and profitability.
D. Human resource practices should focus on promoting ethnocentrism in the work place.
Answer:
The correct answer is (C)
Explanation:
Organisational competitiveness can only be achieved by implementing policies which help to achieve revenue and profitability. Growth and profitability are important to achieve human resource management goal of facilitating competitiveness. The central objective of every firm and organisation is to grow and increase revenue, and that goal is achieved by gaining organisation competitiveness.
The strategies that an organization can adapt to facilitate competitiveness include structuring incentive and reward systems to maintain employee motivation and formulating organizational objectives that focus on revenue growth and profitability.
Explanation:To achieve the human resource management goal of facilitating organizational competitiveness, an organization could implement any of the following strategies, however, the most effective would be option B and C. In particular, incentive and reward systems should be structured in such a way that they maintain employee motivation (option B). This strategy motivates employees to work effectively and efficiently, which can enhance the organization's competitiveness.
In addition, organizational objectives should be formulated in a way that they deal with revenue growth and profitability (option C). A focus on financial performance can also increase competitiveness, as financial stability often leads to increased investment in technologies and innovative practices, which can give an organization a competitive edge. Option A and D are less directly related to enhancing competitiveness.
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The total rewards approach has arisen from the:
A) changing business environment of the last several decades.
B) organizationʹs business needs.
C) executive boardroom.
D) changing global economy.
E) employeeʹs requirement for stability.
Answer: Changing business environment of the last several decades.
Explanation:
The total reward approach covers the totality of payments and benefits an employee gains from his employer. The total reward approach for running businesses has changed overtime, as employers have discovered more efficient ways of handling employee welfare.
Income from known sources subtracted from the total income gives a reasonable estimate of: a. Unknown funds b. Liabilities c. Living expenses d. Net worth
Answer:
The correct answer is (a)
Explanation:
Income is generated from known and unknown sources. Generally, it is hard to know the unknown sources from where the income is generated but it is easier to know the amount of income generated from the unknown sources. Likewise, when the amount of income from known sources is subtracted from total income the amount of income from unknown sources can be estimated.
Licensee Gary advises Buyer Tim that a property Tim is interested in is zoned for commercial use. In fact, Gary does not know what zoning applies to the property. Tim put in a purchase contract on the property and later finds out that the zoning in place actually would prevent him from using the property as he intends. Which statement is TRUE?
Answer:
Gary committed misrepresentation.
Explanation:
Misrepresentation refers to making a false statement in order to induce a buyer (or even a seller) to enter or exit a contract. If the buyer can prove that the real estate agent lied and that they entered a contact based on that lie, then he/she can sue the real estate agent for any damages incurred. The misrepresentation (the lie) must be both false and fraudulent, which means that it was made in order to induce another party into entering or exiting a contract.
In this case, even though Gary did not know what zoning regulations applied to this property, he made a false statement on purpose in order to convince Tim of buying the property.
The true statement in regard to the context carries the meaning that Garry has committed misinterpretation.
A misrepresentation situation occurs when a real estate investor misinterprets a property's content feature. Failures to disclose, which occur when a real estate agent fails to acknowledge or expose a content function of the estate, are commonly grouped in with misstatements.
Therefore, the correct statement is the second one.
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The airline industry requires substantial investments in equipment or technology to produce a product. As a result, there are a relatively small number of sellers, each holding substantial market share, in a market with many buyers. Because there are few sellers, the actions of each directly affect the others. This is an example of ___________.
Answer:
This is an example of an Oligopoly
Explanation:
Oligopoly is a market structure where a few number of firms, usually two or more firms, which gives high market shares to those firms involved, but the number of firms must be low enough for one firm's actions to significantly influence other firms
The trees these moths used to live on were white, but have been covered in soot from coal factories. Which moth will be more successful in this environment?
Dark mothLight mothBoth will be equally successfulNeither will be successful
Answer:
Dark moth
Explanation:
The survival of the fittest.
Before, the white moth's characteristics made them the fittest moth to survive in this environment, but as the environment changed and the color of the trees got darker, the advantage shifted to the dark moths. The dark moth's characteristics are now the best ones to survive on the environment, and therefore they will multiply, while the number of white moths will decrease. Now the dark moth is the fittest, and will survive in larger numbers.
Rodney is a senior salesperson in a pharmaceutical company. Every time Jeff places an order of 2,000 units from the company, Rodney pays 7 percent of the total amount of sales to Jeff for helping him achieve his sales targets. This is an example of a _____
Answer:
kickback
Explanation:
In business, kickbacks are illegal because they are a form of bribery. A kickback happens when an illegal sales commission is paid to an individual that works for another company but is responsible for placing an order. Kickbacks include other things besides money, such as trips, gifts, etc.
Kickbacks are illegal because the person that receives the commission (Jeff) is not making unbiased purchase decisions.
Assume that an industry that began as a perfectly competitive industry becomes a monopoly. Compared to when the industry was perfectly competitive, the monopolist will:______.
Answer:
Charge a higher price and produce less output
Explanation:
A monopolistic markets imeans that there is the absence of other suppliers of the same product or service, making them the sole market of the product or service. This can make them charge a premium to their customers. Consumers have no alternatives of options and are forced to pay the price for the goods dictated by the monopolist. ITherd is a tendency for the monopolist to make prices high high prices, it may not necessarily be a monopolistic behavior.
A monopolistic market can restricts output to raise the price leading to less production, which reduces total real social income.
__________ gives subordinates influence in the decision being made; ___________ gives subordinates the ability and authority to make the decision themselve
Answer:
Involvement gives subordinates influence in the decision being made; Empowerment gives subordinates the ability and authority to make the decision themselves.
Explanation:
For any organization, it is recommended to involve the employees in the decision making process. Involvement creates in employees a sense of belongingness which helps them contribute efficiently towards attainment of organizational goals.
Empowerment refers to delegating the authority to subordinates to act on their own without the need for the decision to pass through various levels of management hierarchy, which saves the loss of time.
Both involvement and empowerment lead to an efficient discharge of duties by the employees.
Upward influence allows subordinates to impact decision-making at higher levels in an organization, while empowerment grants them the discretion and authority to make decisions on their own.
Upward influence gives subordinates influence in the decision being made; empowerment gives subordinates the ability and authority to make the decision themselves. Upward influence entails the capability to impact decisions and actions at higher levels in the organization, like influencing a boss or higher authorities by aligning with the goals of the firm or forming alliances. This can be particularly necessary as organizations grow in complexity and no single person can make all decisions quickly enough. Through fostering good relationships with their superiors, subordinates can utilize rationality, assertiveness, and reciprocal exchange to gain positive outcomes, such as promotions and raises, thereby gaining more power within the organization.
Empowerment, on the other hand, is when management removes barriers that impede individuals, allowing employees to have discretion, autonomy, and greater control over their work. It involves providing the conditions and the climate within the organization where employees feel they can take initiative and have meaningful input. It can even lead to situations where employees decide what tasks to perform and how, managing themselves effectively.
Which modern small-town institution is most like an ancient Sumerian temple in terms of its social power and economic importance to its hometown?
Answer:
Local factory: provides thousands of employment opportunities of both professional and unprofessional to the locals, they have charity affiliations, they own lots of the local market real estate and have good ties with political leaders.
A Coverdell Education Savings Account may be preferred to a Sec. 529 Education Savings Account under all of the following circumstances EXCEPT:(A)The student beneficiary will use the money to pay for high school expenses.(B)The grantor's modified adjusted gross income is below a certain threshold amount.(C)The grantor is in a low tax bracket.(D)The grantor wants to make a one-time contribution of $15,000 to the account.
A Coverdell Education Savings Account may be preferred to a Sec. 529 Education Savings Account under certain circumstances, but not when the student beneficiary will use the money to pay for high school expenses.
Explanation:A Coverdell Education Savings Account may be preferred to a Sec. 529 Education Savings Account under all of the following circumstances EXCEPT:
(A) The student beneficiary will use the money to pay for high school expenses. A Coverdell Education Savings Account can be used to pay for qualified education expenses for elementary, secondary, and higher education. A Sec. 529 Education Savings Account is specifically designed for higher education expenses.(B) The grantor's modified adjusted gross income is below a certain threshold amount. Both a Coverdell Education Savings Account and a Sec. 529 Education Savings Account have income limits.(C) The grantor is in a low tax bracket. Both accounts can be beneficial for individuals in low tax brackets.(D) The grantor wants to make a one-time contribution of $15,000 to the account. Both accounts allow contributions, but there may be annual contribution limits.Learn more about Coverdell Education Savings Account here:https://brainly.com/question/29490147
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Your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common external sources except ________.
a. the firm's executives
b. competitors
c. suppliers
d. customers
e. trade shows and magazines
Answer:
A. The firm's Executives
Explanation:
External Sources to a firm are those sources that are related to be not part of the day to day running of the affairs of the firm. As such the firm's executives are internal sources because they represent the interest of the firm.
In case of a sole proprietorship or partnership business, these executives are the owners of the business while in the case of listed firms, they represent the interest of the owners of the firm. They cannot therefore be regarded as external sources
Competitors are related as they are within the same product line but they are not involved in the daily affairs of the firm, suppliers make raw materials available while customers patronise the business. Trade shows magazine on the other hand independently report the progress of all firms within the industry. These are the external sources.
According to Gary Hamel, management should be viewed as a(n) _____ to which ongoing improvements and innovation can be made systematically.
Answer: PROCESS
Explanation: GARY HAMEL is a world acknowledged thinker Born on the year 1954,he described management as a process,he is the founder of STRATEGOS a management consultant firm,through his work he showed that management should be seen as a PROCESS through which ongoing innovations and improvements can be achieved. According to Gary Hamel,
Management innovation is an innovation in management principles and processes that ultimately changes the practice of what managers do, and how they do it.
The credit system today is structured to accommodate a state of uncertain employment and income instability, utilizing high interest rates and fees to turn huge profits.
True or False.
Answer:
The credit system today is structured to accommodate a state of uncertain employment and income instability, utilizing high interest rates and fees to turn huge profits. This statement is True.
Explanation:
Since 1970, the credit industry of United States is growing. Credit is marketed also very well because they take high interest rates and fees and continue to flourish by earning huge profits with these.
Banks also lend more money to consumers as they earn high profits by taking more interest rates. Though this credit is actually not good for an individual's financial condition, as they have to re-pay the credit in addition of the high interest. So, the credit structure is designed such that it can sustain high unemployment and income instability these days. Thus, the given statement is True.
If an economy is in a recession and the government opts for an expansionary fiscal policy to shift AD closer to potential output, an economist with a typical functional finance view who acknowledges partial crowding out would conclude that the AD:
Answer:
Shifts to the right as a result of increase in government expenditure
Explanation:
An economist with functional finance view is one that has experience or training in finance related field. An economist that acknowledges partial crowding out is one that is persuaded that government cannot spend its way out of recession without a crowding out effect.
Crowding out is when government spending reduces investment spending by the private sector. Therefore an economist with this mindset will naturally conclude that aggregate demand Shifts to the right as a result of increase in government expenditure.
An economic force given relatively free rein by society to work through the market is: a. a political force. b. a price mechanism. c. a social force. d. a market force.
Answer:
The correct answer is option d.
Explanation:
A market force refers to the invisible forces in the economy which help in determining equilibrium in the market through the free movement of demand and supply.
It determines the equilibrium price, quantity, wages, salaries, etc. in a free market. It works best with no or low government intervention.
Adam Smith, in his book, wealth of nations, referred market forces as 'the invisible hand'.
(Consider This) In 1975, McDonald's introduced its Egg McMuffin breakfast sandwich, which remains popular and profitable today. This longevity illustrates the idea of________________.
Answer:
consumer sovereignty
Explanation:
The most important element of any business is its customers. The wishes and wants of customers can alter the goods and services produced by the brands. In 1975 McDonald's introduced their breakfast meal according to the demand of the customers the action of McDonald is known as consumer sovereignty. Brands which care about consumer sovereignty are usually successful in long-run.
________ is reported as a current asset on balance sheet. a. Cost of goods sold b. Accounts payable c. Operating income d. Merchandise inventory
Answer:
d. Merchandise inventory
Explanation:
The current assets comprise cash, inventory, account receivable, prepaid insurance, short term investment, etc
This current asset are presented on the asset side of the balance sheet
Whereas the cost of good sold are presented on the income statement, the account payable are displayed on the liabilities side of the balance sheet, and the operating income is also presented on the income statement