Answer:
The correct answer is True.
Explanation:
The general ledger is one of the most basic used in day-to-day accounting. In this, all the economic operations that are carried out in a business are registered in a chronological way for its subsequent transfer to the major. When registering an accounting entry in the daily book it is necessary to understand what we are going to register and always remember that the sum of all debits must be equal to the sum of all credits to comply with the principle of double entry. This means that every time we debit an account, we must also give a credit for the same value to the other affected account.
Johanna agrees to purchase Jessie's land so that she can build a golf course. They write a contract, and Johanna transfers the deed to Jessie. Jessie pays Johanna the entire purchase price. Johanna and Jessie have discharged their contract by:
a. breach.
b. performance.
c. concurrence.
d. lapse of time.
Answer:
Performance
B
Explanation:
In this question, we are asked to state in what way was a contract on a land purchase deal was discharged.
Firstly, we need to understand what is meant by the term contract discharge. What is meant by the term contract discharge refers to what has happened when the main obligations of a contract has ended.
It refers to the termination of a contractual agreement between two or more parties who are involved in the contract deal.
Now, to terminate a contract, there may or there may not be the fulfillment of all obligations which are in the contractual agreement. What this means is that a contractual agreement can end even without total execution of the conditions that are stipulated in the contractual agreement.
What we are trying to say here is that there is an absolute difference between the discharge and termination of a contract agreement.
The discharge and termination of a contract deal can be through: performance, fraud, breach or even agreement.
In this question we are concerned with discharge by performance. A discharge by performance occurs when the parties involved in the contractual agreement discharge their duties in the contract agreement which naturally brings the contract agreement to an end
Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn more than 400 times as much as Babe Ruth earned in 1931. However, prices have also risen since 1931. We can conclude that:
Answer:
D) one cannot determine whether baseball stars today enjoy a higher standard of living than Babe Ruth did in 1931 without additional information regarding increases in prices since 1931.
Explanation:
The value of money changes over time due to inflation and to be able to compare someone's salary back in 1931 with a current salary we would need information regarding how inflation affected the purchasing power of the US dollar. For example, back then a new car costed less than $1,000. Since Babe Ruth was extremely famous and successful, his salary was probably huge compared to the average salaries of back then.
Final answer:
The question about Babe Ruth's salary compared to modern player salaries reflects a significant increase in the economic value of top athletes despite inflation. It highlights the impact of sports economics and societal changes on athlete compensation.
Explanation:
Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn more than 400 times as much as Babe Ruth earned in 1931. However, prices have also risen since 1931. We can conclude that: the economic value of elite athletes has dramatically increased, despite inflation and changes in the monetary value over time.
This reflects not just a change in sports economics but in how society values entertainment and sports figures. The rise in player salaries since the abandonment of reserve clauses shows a shift towards a more player-favoring market, allowing athletes to command salaries closer to their marginal revenue product (MRP). The historical context of Babe Ruth's career and subsequent changes highlight the evolution of sports into significant cultural and economic phenomena.
Zach accepted a position at a low-wage, part-time job. It wasn’t what he wanted to do for the rest of his life, but he knew that he would achieve his ideal job at some point in his life. What aspect of emerging adulthood is Zach experiencing?
Answer:
Multiple possibilities
Explanation:
Emerging adulthood is a phase between adolescence and young adulthood. One of the features of this phase is the multiple possibilities that means that this an age in which people are optimistic, have a lot of expectations and they believe that they have different options that seem possible for their lives. According to this, the answer is that the aspect of emerging adulthood that Zach is experiencing is multiple possibilites.
The bureau of labor statistics reported that in june 2004, the labor force was 149.2 million, employment was 140.7 million, and the working-age population was 223.4 million. calculate the unemployment rate and the labor force participation rate for that month.
Answer:
Unemployment rate = 5.697%
Labor force participation rate = 66.786%
Explanation:
Given:
Labor force = 149.2 million
Number of employment = 140.7 million
Working-age population = 223.4 million
Unemployment rate = ?
Labor force participation rate = ?
Computation of Number of Unemployed:
Number of Unemployed = Labor force - Number of employment
Number of Unemployed = 149.2 million - 140.7 million
Number of Unemployed = 8.5 million
Computation of Unemployment rate:
Unemployment rate = 8.5 million / 149.2 million
Unemployment rate = 5.697%
Labor force participation rate = number in labor force / adult population
Labor force participation rate = 149.2/223.4 = 0.66786
Labor force participation rate = 66.786%
Final answer:
The unemployment rate in June 2004 was calculated to be 5.7%, and the labor force participation rate was found to be 66.8% using the given data.
Explanation:
Calculating Unemployment Rate and Labor Force Participation Rate
To calculate the unemployment rate, we need the number of unemployed individuals and the total labor force. The formula for the unemployment rate is:
Unemployment Rate = (Number of Unemployed / Labor Force) × 100
From the given data for June 2004:
Employment = 140.7 million
Labor Force = 149.2 million
Working-Age Population = 223.4 million
First, let's calculate the number of unemployed:
Number of Unemployed = Labor Force - Employment = 149.2 million - 140.7 million = 8.5 million
Now, we calculate the Unemployment Rate:
Unemployment Rate = (8.5 million / 149.2 million) × 100 = 5.7%
Next, to calculate the labor force participation rate, we use the labor force and the adult working-age population:
Labor Force Participation Rate = (Labor Force / Working-Age Population) × 100
Labor Force Participation Rate = (149.2 million / 223.4 million) × 100 = 66.8%
Therefore, the unemployment rate for June 2004 is 5.7% and the labor force participation rate is 66.8%.
Suppose the government doesn't want to discourage employers from hiring research assistants and, therefore, wants to minimize the share of the tax paid by the employers. Of the three tax proposals, which is best for accomplishing this goal?
Answer: The options are given below:
A. The proposal in which each side pays half the tax.
B. The proposal in which workers pay the entire tax.
C. The proposal in which employers pay the entire tax.
D. None of the proposals is better than the others.
The correct option is D. None of the proposals is better than the others.
Explanation:
From this question given above, we can see that the equilibrium quantity of labor, the amount that the employers will pay per hour after the tax, and the amount that the workers will take home do not depend on who will pay the tax.
Therefore, it does not matter which tax proposal given in the options above the government implements because none of the proposals is better than the others.
The best tax proposal would likely be one that either gives a tax credit to employers for hiring research assistants or involves a subsidiary wherein the government subsidizes part of the wage bill. This minimizes the share of tax an employer pays, encouraging the employment of more research assistants.
Explanation:To make an informed decision we would need precise details about the three tax proposals. Regardless, the goal from the question is to minimize the share of tax paid by the employer for hiring research assistants without discouraging them. A tax proposal best suited for this likely involves a structure where the employer pays less or limited tax for hiring research assistants, shifting majority of the tax burden to other entities. This could be a tax credit for hiring research assistants so that the more research assistants they hire, the lower their net tax burden, or a subsidiary where government subsidizes a part of wage bill of research assistants.
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Lyra induces Moe to enter into a contract for the sale of an apartment about which Lyra fraudulently misrepresents a number of material facts. Lyra tells Moe that her commission is 6 percent, but their signed, written contract states 12 percent. The Statute of Frauds governs:_____________.
1. contracts that are induced by fraud.
2. contracts that must be in writing to be enforceable.
3. the admissibility in court of oral evidence.
4. the reformation of oral and written statements into one contract.
Lyra induces Moe to enter into a contract for the sale of an apartment about which Lyra fraudulently misrepresents a number of material facts. Lyra tells Moe that her commission is 6 percent, but their signed, written contract states 12 percent. The Statute of Frauds governs (2) contracts that must be in writing to be enforceable.
Explanation:
The statute of frauds refers to the requirement that certain kinds of contracts will be enforceable only if they are in writing
Even though the statutes of frauds vary from state to state, the following types of contracts must be in writing to be enforceable:
contracts for the sale or lease of, or a mortgage on, real property (e.g., land, fixtures); contracts that cannot, by their terms, be performed within one year after the date the contract was formed; collateral contracts, such as promises to answer for or guaranty the debt or duty of another person; promises made in consideration of marriage (i.e., prenuptial agreements); and contracts for the sale of goods valued at $500 or more.
After receiving the seller’s transfer disclosure statement, buyer clark rivers is not satisfied that all has been revealed. he’s heard rumors that a previous tenant died of aids inside the very home he would like to buy. clark demands to know if this is true, since it was not mentioned on the disclosure statement. which of the following is the appropriate legal response the broker must give to clark’s query?a. yes, this is true. a previous tenant, who lived and died here two years ago, did have aids.b. i’m sorry, but the transfer disclosure statement covers all material facts that must be disclosed, and a person having aids is not a material fact, whether or not it would be applicable in this situation.c. i’m sorry, but i am not permitted to answer this question, as it could be a potential civil rights violation, under the federal and state fair housing laws.d. both b and c.
Answer: B. i’m sorry, but the transfer disclosure statement covers all material facts that must be disclosed, and a person having aids is not a material fact, whether or not it would be applicable in this situation.
Explanation: According to the state law on transfer disclosure statement, all material facts that affect the value or desirability of the property must be disclosed to the buyer.
A fact will generally be deemed material if it has a significant and measurable effect on the value of the property.
Details that you do not need to be disclose include whether a prior occupant had Acquired Immune Deficiency Syndrome (AIDS) or whether someone died on the property.
The appropriate response the broker must give to Clark's query is both options b and c. The transfer disclosure statement covers all material facts, and the medical history of a previous tenant is not a material fact. Also, discussing the medical status of a previous tenant could infringe upon fair housing laws.
Explanation:The appropriate legal response the broker must give to Clark’s query is d. both b and c.
This is because the transfer disclosure statement does cover all material facts that must be disclosed, and as per legal guidelines, the medical history of a previous resident, regardless of its nature, is not deemed a material fact that would influence the value or desirability of the property (option b).
In addition, discussing the medical status of a previous tenant could potentially infringe upon fair housing laws and civil rights, considering multiple federal and state regulations protect against this kind of discrimination. Hence, the broker is not permitted to answer this question (option c).
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In a perfectly competitive market with positive economic profits: A. Firms will enter until accounting profits are zero. B. Firms will enter until economic profits are zero. C. Firms will exit until economic profits are zero.
Answer:
The answer is B.
Explanation:
Economic profit is the difference between total revenue and both explicit cost and implicit cost. i.e Total revenue - explicit cost - implicit cost.
Explicit cost is also known as accounting cost. They are the cost that are directly related to the production of goods and services while implicit cost is the opportunity cost of chosen to produce the goods and services.
In perfectly competitive market, firms continue to enter the when economic profit is still positive (with this, they are generating normal profit) but cease to enter when the profit drops to zero(with this, they are making loss)
So therefore, firms will enter until economic profits are zero.
In Blimka v. My Web Wholesalers an Idaho resident, Blimka, ordered a large quantity of jeans from My Web, a Maine company that advertised its goods on the Internet. When a dispute arose over the quality of the jeans, Blimka sued My Web in Idaho state court. My Web contended the Idaho court did not have jurisdiction. The Idaho high court held that:a. the defendants' actions did not satisfy minimum contacts with respect to the fraud allegations b. the defendants' actions did satisfy minimum contacts with respect to the fraud allegationsc. the defendants did not visit Idaho often enough for Blimka to sue them in an Idaho Courtd. Blimka could sue the defendants in Idaho because the defendants owned property in Idahoe. none of the choices are correct
Answer:
1. Yes, if they do active business. The standard is the same as it is for traditional businesses. Once a business “enters” a state to do business, especially when there are actual sales, not just discussions, it subjects itself to its law.
2. The case was probably for less than $75,000, since the money paid was about $21,000. Even allowing for lost profits Blimka may have earned by resale, it would be unlikely to be enough for diversity jurisdiction. In any case, My Web failed to show up to defend itself and lost. So later when it lost on the claim of lack of jurisdiction, it could not ask for another day in court.
Explanation:
Answer:
B) the defendants' actions did satisfy minimum contacts with respect to the fraud allegations
Explanation:
In common law, minimum contacts is a legal term used by state civil courts to determine whether that state court has jurisdiction over a foreign citizen. In this case, foreign citizen refers to a company incorporated in another state (Maine).
The state court of Idaho determined that My Web Wholesalers had minimum contacts with the state of Idaho because it sold its products there. Even though they did not have an actual retail store in the state, My Web sold its products through the internet to citizens of Idaho. Therefore, the civil court of Idaho has jurisdiction to serve My Web Wholesalers.
Jim, an employee of CL Inc., is responsible for planning, marketing, budgeting, sales, and profit performance of a specific brand. He has two assistants who helpin planning, implementing, and controlling the marketing program. In this scenario, Jim is an example of a:_________ .1. product manager.2. art director.3. account executive.4. copywriter.5. account director.
Answer:
1. product manager
Explanation:
Product manager -
It refers to the professional person who helps for the development of the product , is referred to as the product manager .
The task of a product manager includes , sale of product , marketing , planning etc.
A product manager plays a very important role in the business for the production of the goods and services .
Hence , from the given scenario of the question ,
The correct answer is 1. product manager .
Supply managers believe they can add the most value to the outsourcing decision by: Group of answer choices managing the contract once the decision has been implemented. being available if the internal users want their assistance. providing a comprehensive, competitive process. reviewing the analysis conducted by the outsourcing team. advising the outsourcing team on relevant contractual terms and conditions.
Answer:
providing a comprehensive, competitive process.
Explanation:
Supply chain management refers to the management of the upstream and downstream flows of an organization. Upstream flows refers to movement and storage of raw materials, components and parts. Downstream flows refers to the distribution of finished goods to final customers through the different marketing channels.
Many times outsourcing processes is seen as positive because is lowers costs and improves delivery times. Any improvement in delivery time or any reduction in costs will add value to the organization's products and increase profits. E.g. many companies hire DHL or FEDEX to handle their distribution processes because they are extremely efficient and fast, and time saved is money saved.
An asset is placed in service on May 15, 2019 and has a depreciable basis of $40,000. The asset is in the 7-year recovery class and the half-year convention applies. What is the maximum depreciation deduction that may be claimed for 2019, excluding the election to expense and bonus depreciation?
Answer:
The maximum amount allowable is $5716.
Explanation:
The depreciation rate at the MARCS table for the 7 years in recovery period is 14.29%. Which means that the most depreciation that is deductable is 14.29% of the depreciation basis.
The maximum amount of the depreciation amount = $40,000 * 14.29% = $5716
The maximum depreciation deduction for an asset with a depreciable basis of $40,000, placed in service under the 7-year recovery class with the half-year convention, is $5,716 for the year 2019.
The question asks about calculating the maximum depreciation deduction for an asset with a depreciable basis of $40,000, placed in service on May 15, 2019, belonging to the 7-year recovery class with the half-year convention applying, excluding the election to expense and bonus depreciation.
Under the Modified Accelerated Cost Recovery System (MACRS), which applies to the 7-year property class and utilizes the half-year convention, the first-year depreciation rate is 14.29%. Therefore, for 2019, the calculation would be $40,000 (depreciable basis) * 14.29% = $5,716 as the maximum depreciation deduction for 2019.
This calculation uses the MACRS depreciation tables designed for different property classes. It divides the asset's life into recovery periods and applies a specific percentage each year, which in the case of 7-year property and the half-year convention for the first year of service is 14.29%.
Stahl Consulting started the year with total assets of $60,000 and total liabilities of $15,000. During the year, the business recorded $48,000 in catering revenues and $30,000 in expenses. Stahl issued stock of $9,000 and paid dividends of $15,000 during the year. The stockholders' equity at the end of the year was
Answer:
$57,000
Explanation:
We know because of the accounting equation that assets are equal to liabilities + stockholders equity, therefore, stockholders equity are equal to $45,000 if assets are $60,000 and liabilities are $15,000.
If revenues were $48,000 and expenses were $30,000, the difference $18,000 is added to the stockholders' equity value, which is now equal to $63,000 ($45,000 + $18,000).
We then add the $9,000 worth of shares that were issued, and now we have a stockholder's equity value of $72,000.
Finally, we substract the $15,000 of dividends paid to reach the final figure of $57,000 ($72,000 - $15,000).
A person's self-concept may affect whether the person buys a product in a particular product category, but it has little impact on brand selection. True
Answer:
False
Explanation:
A person's self concept refers to how that person views and feels about himself/herself. It is extremely common that the way we ourselves is not our ideal self or how we would like to be. Self concept is a very important factor when a consumer decides to purchase certain goods. We like other people to see us or think about us in a certain, so we choose to buy certain products and certain brands that reflect how we would like to seen and how we would like to be ourselves. E.g. someone who buys Mercedes Benz car wishes to be seen as successful and important.
Natalie, a manager at a branch of Blue Soul Spa, leads all the ten employees working in her branch. She reports directly to the owner of Blue Soul Spa. Thus, in the context of span of control, Blue Soul Spa is a tall organization.1. True2. False
Answer:
False
Explanation:
Span of control refers to the number of subordinates that report to a supervisor or manager within an organization. In the context of span of control, this organization would be considered a flat organization since it has 10 subordinates per supervisor. Tall organizations have 1-4 subordinates per supervisor.
The given statement is false. Blue Soul Spa, in the given context, has a flat organizational structure, not a tall one, since there are fewer levels of hierarchy between the front line employees and the top level.
Explanation:The statement is False. The span of control refers to the number of subordinates a manager or supervisor can efficiently and effectively direct. In the given scenario, Natalie, the manager at a branch of Blue Soul Spa, only has ten employees under her, and she directly reports to the owner. This shows a relatively shallow or flat hierarchy—indicative of a flat organization—not a tall one. A tall organization would have several layers of management between frontline employees and the top level, resulting in a 'taller' hierarchy. In recent years, many organizations have shifted away from such hierarchy and towards a more flat span of control to facilitate better communication and teamwork.
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Justin deposits $4,000 into an IRA account that earns an annual interest rate of 6.5%. If he makes no additional deposits, how much money will he have in the account one year later?
Answer:
The Future value at year time is $4,260
Explanation:
The future value at the end of the year one can be found by using the compounding formula which is as under:
Future Value = Present Value * (1 +r)^n
Future Value = $4,000 * (1.065)^ 1 = $4,260
Center City enacts an ordinance that imposes a jail term, without a trial, on all contractors who solicit business without a city permit. A court would likely review this ordinance under the principles of:________.
a. equal protection.
b. due process.
c. free speech
d. free exercise.
Answer:
The correct answer is b) due process.
Explanation:
"Due process" implies that all legal processes must take into account the legal rights of their citizens. Due process is characterized by providing people with a fair, impartial process and with the corresponding guarantees, thus protecting the rights of citizens by law.
For example, in the case of Center City, they cannot present a prison sentence without trial to any person because they would be breaking the law, as everyone has the right to a due process and to be treated fairly.
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White Laundry Company purchased $6,500 of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $3,000 on hand. It is the company’s first period of operations. The adjusting entry that should be made by the company on June 30 is:________.
1. debit supplies expense, $3,000; credit supplies, $3,000.
2. debit supplies, $3,000; credit supplies expense, $3,000.
3. debit supplies, $3,500; credit supplies expense, $3,500.
4. debit supplies expense, $3,500; credit supplies, $3,500.
Answer: The correct answer is 4. debit supplies expense, $3,500; credit supplies, $3,500.
Explanation: Since at the end of June, the inventory of the supply indicated $3,000 on hand, it implies that $3,500 had already been expensed (utilized) by White Laundry Company. This has to be taken out to operating expenses, in terms of passing the accounting journals, from the asset (inventory) where the total amount of $6,500 was posted.
Final answer:
The adjusting entry necessary for the White Laundry Company on June 30 is to 4. debit Supplies Expense for $3,500 and credit Supplies for $3,500, reflecting the used supplies as an expense.
Explanation:
The White Laundry Company needs to make an adjusting entry on June 30. The company started with $6,500 of supplies and ended with $3,000. The difference, which is $3,500, represents the amount of supplies that has been used up and should be recorded as an expense. Therefore, the correct adjusting entry to record the used supplies as an expense is to debit Supplies Expense for $3,500 and credit Supplies for $3,500. This is because in accrual accounting, expenses are recognized when they are incurred, not necessarily when they are paid. Hence, the adjusting entry should reflect the reduction in supplies and the corresponding increase in expenses.
As Mallory was shopping for groceries, she discovered that the store was out of Canada Dry Ginger Ale. As a result, she simply chose the store's private-label ginger ale and continued shopping. What type of brand loyalty did Mallory exhibit?
Answer:
BRAND PREFERENCE.
Explanation:
Brand preference simply means when customers prefer a particular company's product even when there are other good options or alternatives.
It is a situation where a customer even though, has to go through more efforts or pay more still sticks to a company's product. It reflects brand loyalty.
Companies take brand preference very serious because it reflects customers loyalty to their brand, a success of their marketing tactics and strength of their brands. It also gives them a level of assurance when other competitors cuts price of their products or produce product that compete with theirs.
Therefore, the type of brand loyalty Mallory exhibits is BRAND PREFERENCE.
Answer:
Mallory exhibited Brand Preference
"If Lazer Co. desires to lock in the maximum it would have to pay for its net payables in euros but wants to be able to capitalize if the euro depreciates substantially against the dollar by the time payment is to be made, the most appropriate hedge would be"
Answer:
D) purchasing euro call options.
Explanation:
If Lazer purchased euro call options it would be basically buying the right to purchase euros at a specified currency exchange rate. This way Lazer would know what is the maximum amount it will have to pay for the euros it needs to cover its debts. The call option give the buyer the right to purchase the euros but not the obligation, so if the euro depreciates, then Lazer can simply decide to not use the call option.
Seller Jones signed an exclusive right to sell listing on her home with Muller Realty for $155,000 at a commission rate of 5% to be paid to broker Muller at closing. As part of the agreement, broker Muller will split the commission equally with any other broker that can bring a buyer for Jones' property. If another broker sold the property, how much will broker Muller receive?
Answer:
$3,875
Explanation:
Data given in the question
Selling value of the home = $155,000
Commission rate = 5%
Share basis = equally
So, by considering the above information, the Muller received amount is
= Selling value of the home × commission rate ÷ share basis
= $155,000 × 5% ÷ 2
= $7,750 ÷ 2
= $3,875
By considering the all the information given in the question we can easily find out the received amount by the Muller
Koehn Corporation accounts for its investment in the ordinary shares of Sells Company under the equity method. Koehn Corporation should ordinarily record a cash dividend received from Sells as:_______.a. a reduction of the carrying value of the investmentb. share premiumc. an addition to the carrying value of the investmentd. dividend income
Answer:
A) a reduction of the carrying value of the investment
Explanation:
Under the equity method, the investor company cannot record dividends as revenue, it must record them as a reduction of the carrying value of their investment. Under the equity method, the value of the investment decreases with cash dividends. This transaction involves only a change between assets, investment decreases while cash increases, no additional revenue is recorded.
Up in Smoke Tobacco Shops' bond carries a 9 percent coupon, pays interest semiannually, and has 10 years to maturity. What is the bond's yield to maturity if the bond is selling for $937.75 (rounded to the nearest whole percent)
Answer:
10%
Explanation:
Since the bond is selling at a discount, it means that the coupon rate is blow the market rate, so the actual rate must be higher. Since there is only one option with an interest rate above 9%, we must check to see if it works.
10% yearly interest rate = 5% semiannual interest rate
we must determine the PV of the 20 coupons paid and the face value at maturity.
to calculate the PV of the 20 coupons ($45 each) we can use an excel spreadsheet and the NPV function with a 5% discount rate: PV of the coupons = $560.80
the PV of the face value in 10 years = $1,000 / 1.05²⁰ = $376.89
the present value of the coupons and the bond at maturity = $560.80 + $376.89 = $937.69. The PV using a 5% semiannual rate is very similar to $937.75, and since the question asked us to round up to the nearest whole percent, we can assume it is correct.
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. Threat modeling
Explanation:
The consultant will use Threat modeling to identify potential attackers. Threat modeling is a procedure for optimizing network security by recognizing purposes and vulnerabilities, and then setting countermeasures to block, or alleviate the consequences of, threats to the system so that in future the organization would prevent these type of attacks which affect the reputation in the competitive market as well as among the customer.
Which of the following is a primary determinant of the price elasticity of supplyLOADING...? The price elasticity of supply is affected by A. whether the good produced is a luxury or a necessity. B. the share of the good in consumer budgets. C. the definition of the market. D. the passage of time. E. whether the good produced has close substitutes available.
Answer:
D. the passage of time
Explanation:
Price elasticity of supply measures the responsiveness of quantity supplied to changes in price.
If quantity supplied is more responsive to changes in price , supply is elastic.
If quantity supplied is less responsive to changes in price, supply is inelastic.
The determinants of elasticity of supply are ;
The passage of time -in the long run, firms are usually able to expand or reduce production in response to changes in the market. Thus supply is more elastic in the long run. While, in the short run, supply is less responsive to changes in the market because in the short run most of the factors of production are fixed.
2. Number of producers
3. Ease of switching production.
The other options in the question determine the elasticity of demand.
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The key determinants of price elasticity of supply are the passage of time and the availability of factors of production, from the options given the most appropriate is the passage of time.
Explanation:The price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or commodity to a change in its price. The key determinants of the price elasticity of supply are the passage of time and the availability of factors of production, neither of which are directly mentioned among your options.
From the provided options, choice D, the passage of time, would be the most appropriate answer as it somewhat addresses the time-related ability of producers to alter their quantity supplied in response to a price change. Over time, for example, a firm can purchase more machines or hire more employees to increase production when prices rise.
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Giorgio Italian Market bought $11,000 worth of merchandise from Food Suppliers and signed a 45-day, 8% promissory note for the $11,000. Food Supplier's journal entry to record the sales transaction is:
Answer:
Dr. Cr.
Purchases / Inventory $11,000
Promissory Note Payable $11,000
Explanation:
Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.
In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.
This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.
Identify the mistakes managers typically make in the change part of the change management process. Check all that apply. Not anchoring changes in the corporation’s culture Not systematically planning for and creating short-term wins Declaring victory too soon Not removing obstacles to the new vision
Managers typically make mistakes in the change management process by not anchoring changes in the corporation’s culture, not systematically planning for and creating short-term wins, declaring victory too soon, and not removing obstacles to the new vision.
Explanation:The mistakes managers typically make in the change part of the change management process include:
Not anchoring changes in the corporation’s culture: Managers may fail to align the changes with the values, norms, and beliefs of the organization, leading to resistance and implementation challenges.Not systematically planning for and creating short-term wins: Managers should break down the change process into smaller milestones and celebrate early successes to maintain momentum and motivation.Declaring victory too soon: Managers may prematurely consider the change initiative successful without fully addressing all challenges, which can result in relapses and setbacks.Not removing obstacles to the new vision: Managers should proactively identify and address barriers that hinder the adoption and implementation of the desired change.Economists who view the AS curve as upward-sloping believe that changes on the demand side _______ result in changes in Real GDP in the short run. Economists who view the AS curve as vertical believe that government changes from the demand side________________ to raise Real GDP in the short run
Answer:
May; cannot do anything
Explanation:
In the short run, the aggregate supply curve will react to price level, which means it is upward sloping rather than vertical. If the price level increases, quantity supplied will increase. If the price level decreases, the quantity supplied will decrease.
Answer:
Economists who view the AS curve as upward-sloping believe that changes on the demand side CAN result in changes in Real GDP in the short run. Economists who view the AS curve as vertical believe that government changes from the demand side CANNOT DO ANYTHING to raise Real GDP in the short run.
Explanation:
In the short run, the aggregate supply (AS) curve is upward sloping because most input prices are fixed in the short run. So a change in the aggregate demand will cause the AS curve to change in the short run. If the demand increases, the aggregate supply will increase, and vice versa.
On the long run, input prices are not fixed, so the AS curve is vertical and any changes in the aggregate demand will not affect it.
Celesta Frank wants to go on a cruise in three years. She could earn 8.2 percent compounded monthly in an account if she deposits the money today. She needs to have $10,000 in three years. How much will she have to deposit today
Answer:
$7,825.78
Explanation:
In this question we use the Present value formula that is shown in the attachment below:
Given that,
Future value = $10,000
Rate of interest = 8.2% ÷ 12 months = 0.683333%
NPER = 3 years × 12 months = 36 months
PMT = $0
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the amount of deposit today is $7,825.78
Celesta Frank needs to deposit $7,690.06 today to have $10,000 in 3 years assuming an annual interest rate of 8.2% compounded monthly.
Explanation:To determine the amount Celesta needs to deposit today, she has to use the formula for calculating the present value in finance. The present value (PV) is calculated as follows: PV = FV / (1 + r/n) ^ (nt), where:
FV (=Future Value) is the amount of money she wants to have in the future, which is $10,000.r (=interest rate) is the annual interest rate in decimal form, which is 0.082.n is the number of times that interest is compounded per unit t, which is 12 (monthly).t (=time in years) is the number of years the money is invested or borrowed for, which is 3.Therefore, the amount Celesta needs to deposit today can be calculated as: PV = 10000 / (1 + 0.082/12)^(12*3) = $7,690.06
Learn more about Financial Mathematics here:https://brainly.com/question/31955701
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AFLAC, Inc. is implementing a new sales program to encourage customer service representatives to offer additional insurance products to customers who call for service. This is an example of a CRM strategy to earn more revenue from existing customers by ________. A. promoting permission marketing B. cross-selling C. implementing sales force automation D. using a foot-in-the-door technique E. using predictive analytics
Answer:
B. cross-selling
Explanation:
Cross-selling is a business technique that consists in offering and selling a new product to an existing customer.
In this case, AFLAC, Inc is using cross-selling because its sales representatives will specifically target customers who already have some sort of service with the firm.
It is important for AFLAC, Inc to offer an additional product that actually enhances the value for the customer. Otherwise, the firm risks disrupting the relationship with its customers, and could even lose some of them.