Answer:
Set up cost
Explanation:
Set up is the cost incurred to purchase or buy equipments and items needed to start up production and it is a very essential cost to consider when quantity discounts are offered because it would help rearrange the cost that would be incurred in production.
Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as:____________.
a. an indicator of the variety.
b. an indicator of quality.
c. a measure of scarcity.
d. a reflection of status quo pricing. e. a measure of the income effect.
Answer:
The correct option is B, an indicator of quality
Explanation:
Premium brands are highly priced goods that command leadership status in their market segments because they are perceived to offer basic brand's benefits as well as additional benefits to consumers.
In identifying these type of brands, their prices could be a signal to their high-end status.
Option A is wrong because high price tells nothing about the variety of a brand.
Option C, a measure of scarcity , is also a deviation from the point,as price does not give any information concerning scarcity of an item,especially when item is a luxury brand and not a basic necessity.
Intel has just paid a dividend of $62 per stock. Intel is expected to pay regular annual dividend indefinitely. The growth rate of Intel dividend is expected to be 10% in the first three years and then 3% indefinitely. If you require a return of 8%, how much are you willing to pay (in $) for the stock? Round your answer to at least 2 decimal places.
Answer:
I will pay $1,364
Explanation:
Dividend Valuation method is used to value the stock price of a company based on the dividend paid, its growth rate and rate of return. The price is calculated by calculating present value of future dividend payment.
Formula to calculate the value of stock
Dividend in first years = 62 x 110% = $68.2
Price = Dividend / ( Rate or return - growth rate )
Price = $68.2 / ( 8% - 3% )
Price = $68.2 / 5%
Price = $68.2 / 0.05
Price = $1,364
Firms possessing certain core competencies are more likely to create competitive advantages based on these competencies. However, before a competitive advantage can be translated into specific customer benefits, the firm's __________ must recognize that its competencies give it an advantage over the competition.
a. management
b. target markets
c. shareholders
d. employees
e. strategic partners
Answer: B- target market
The firm'sTarget market_ must recognize that its competencies give it an advantage over the competition.
Explanation:Target Market:This Is a group of customers that the business directs it's production and marketing efforts on.
it is necessary for establishments to know the consumers purchasing from the company and how to continually cater for thier needs because Companies and manufacturers have competitors who can compete with them with thier target market
A company must be willing and able to have an edge over it's competitors by improving the benefits they provide to their target market , This is by knowing who buys from the company, thier wants and needs and prospective/intending consumers by implementing strategies essential for the business to thrive or have a competitive advantage over it's competitors.
Answer:
B) target markets
Explanation:
I'm not sure if you remember the Pepsi challenge where allegedly "ordinary" people were blindfolded and they were given both Pepsi and Coke and they had to choose their favorite. That challenge started in 1975, and the results were supposedly favorable towards Pepsi. Theoretically way over 50% of the people liked Pepsi more than Coke. But if this is true why do Coke sales keep increasing while Pepsi sales keep diving?
At the beginning, the challenge had a significant impact in increasing Pepsi sales, but after a short time things were back as usual. For example, the latest update on Coke v. Pepsi sales are Coke sales increasing world wide from 17.3% to 17.8% of the total soda world market, while Pepsi's market share continues to fall from 10.3% to 8.4%. This represents 2018 sales, there are no new updates yet for 2019.
Back to the question. If better flavor was Pepsi's core competency over Coke, why aren't they number 1? Pepsi is always a few cents cheaper than Coke, so the price is not an issue for them. The answer is simple, either customers refused to agree with their core competency or the core competency never existed. Anyway, at least in western countries, the market is king, and a tyrant also. A company cannot impose a core competency, the market decides who has it or not. Pepsi is not even number 2 in the US, Diet Coke is number 2 (Coke is number 1).
Finding the required interest rate: Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1,000,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don’t save any additional funds? excel formula
Answer:
i= 8% annual compunded
Explanation:
Giving the following information:
Your parents will retire in 18 years. They currently have $250,000, and they think they will need $1,000,000 at retirement.
We need to calculate the interest rate required to reach the $1 million goal in 18 years without any additional deposit.
FV= PV*(1+i)^n
Isolating i:
i= [(FV/PV)^(1/n)] - 1
i= [(1,00,000/250,000)^(1/18)] - 1= 0.08
i= 8% annual compunded
The parents need to use the Excel RATE function to determine the annual interest rate needed to grow their current savings to their retirement goal in 18 years. The formula is =RATE(18,0,-250000,1000000,1), and the output should be converted to a percentage by multiplying by 100.
Explanation:In order to determine the interest rate that your parents need to achieve their retirement goal, you can use Excel's RATE function. The RATE function calculates the interest rate required to turn a present amount into a future amount within a specific period of time.
In this case, the present value (PV) is $250,000, the future value (FV) is $1,000,000, and the time period (Nper) is 18 years. The formula in excel would be: =RATE(18,0,-250000,1000000,1). This will give the annual interest rate your parents need to meet their goal, assuming no additional savings. Just remember to convert the output to a percentage rate by multiplying by 100.
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Why is price directly related to quantity supplied? As price rises, suppliers rearrange their activities to supply more of a substitute good in order to take advantage of the higher price. As price rises, suppliers rearrange their activities to supply more of that good in order to take advantage of the higher price. As price rises, consumers substitute other goods whose price has not risen. As price falls, suppliers rearrange their activities to supply more of that good in order to take advantage of the lower price.
Answer:
Based on the law of supply in Microeconomics,as the price of any good or service increases,the suppliers or sellers will also increase the supply of that particular good or service.Hence,the correct answer is the second option given in the answer choices.Explanation:
Law of supply states that quantity supplied of any commodity or service has a direct or positive relationship with the price of that particular commodity or service.It basically implies that both commodity or service price and its market supply move in the same direction.Therefore,as the market price of any product or service increases,it s supply level in the market also rises as the sellers or suppliers will rearrange their production activities to increase supply attracted by the prospect of higher potential sales revenue due to higher price.Hence,possibilities to earn higher revenue from each unit of output sold due to price hike of any particular product or service,the sellers or suppliers will increase the supply of that product/service in the market.
If Nike had signed a release not to sue Already for past violations of trademarks, in exchange for some money, would this case likely have been decided the same way?
Answer:No, Because the signed agreement was for previous violations, it does not cover future violations.
Explanation: Trademarks are intellectual property rights that is represented by appropriate signs, pictures etc signifying that the owner of the product has the right to the trade if certain types of product or products.
Trademark are legally approved rights that any violations can lead to severe consequences based on the enabling laws as enshrined in the constitution of a country.
Consumer demand for personal computers or smart devices ultimately determines the demand for the parts and materials involved in the manufacture of each product. This is an example of _________.a. Channel management
b. Price elasticity of demand
c. Derived demand
d. B2B demand
e. None of the above
Answer:
The correct answer is c. Derived demand .
Explanation:
Derived demand is the demand for goods and services that is generated as a result of the demand for other goods and services. This type of demand usually corresponds to the demand for factors or products, since the demand for a good or service may be related to the process necessary to produce another good or service, although it can affect both producers and consumers.
Derived demand can sometimes lead to an increase in the price of a marginal product, since the demand for the resources needed to produce a physical product also increases.
Steve was wrongfully terminated by Sam, his former boss at Big Flop, Inc., falsely stating that Steve embezzled money. When Steve was asked why he was no longer employed at Big Flop, Steve had to tell his new prospective employer. Under this scenario, regarding a possible claim of defamation, in a state that recognizes compelled self-publication, Sam and Big Flop:__________
(A) are not liable since they are protected under the law.
(B) are not liable even though they lied because it was their opinion.
(c) are not liable because Steve did not have any injury to his reputation.
(D) are likely liable under the theory of compelled self-publication.
Answer:
D. Are likely liable under the theory of compelled self-publication
Explanation:
Considering that Steve was terminated in a state that recognizes compelled self-publication, a defamatory claim will be premised on the assumption that Big Flop, Inc. are liable for the actions of their representative, Sam, who terminated Steve on the basis of unfounded allegations of embezzlement, which Steve was forced to reveal when it became a sticking point liable to derail his next job offer.
Jon is planning to invest $15,000 at a 6% interest rate. He needs $25,000 in total for a purchase he plans to make. With his original investment and interest rate, it will take _____ years to accumulate the desired amount.
Answer:
It will take 8 years and 281 days.
Explanation:
Giving the following information:
Jon is planning to invest $15,000 at a 6% interest rate. He needs $25,000 in total for a purchase he plans to make.
To calculate the time required to reach the goal, we need to isolate the number of years from the final value formula:
FV= PV*(1+i)^n
Isolating n:
n=[ln(FV/PV)]/ln(1+r)
n= [ln(25,000/15,000) / ln(1+0.06)
n= 8.77 years
To bo more accurate:
0.77*365= 281
It will take 8 years and 281 days.
Cathy's Clothes is a small yet successful retail chain that sells women's clothing and accessories with a focus on buyers who have relatively modest means. For this specific purpose, the firm has rolled out several marketing initiatives aimed at women of a specific demographic. This is an example of ________.
Answer:
Target Marketing
Explanation:
Candy's Clothes is engaging in target marketing because it is tailoring its marketing strategy (and its products) to a specific, narrowly-defined group of people, which can be thought of as the firm's niche.
This strategy is useful when companies have a clear idea of what demographic group they want to sell. Other firms have products with a broader appeal, and therefore, are better off using other marketing strategies that can reach a larger group of people.
A(n) ___________________________________ is a collection of programs that manages the database structure and controls access to the data stored in the database.
Answer:
Database Management System
Explanation:
The DMS is a software that is used for improving data sharing, provision of security by limiting access of data to authorized people, integration of the data with other systems and many more. This provides a greater access and control of data to the user of this software.
The stock of raw materials, inputs, and component parts that an organization has on hand at a particular time is called _________. storage inventory products stored components holdings
The stock of raw materials, inputs, and component parts that an organization has on hand at a particular time is called Inventory.
Explanation:The amount of goods that are held by an organisation for the purpose of sale to the customers in near future refers to Inventory. The things that are included in inventory are raw materials, work in progress and finished goods of an organisation. Merchandise is the name that is used by the retailers for the purpose of mentioning inventories.
Inventories plays a major role in an organisation as it determines the amount of goods that are sold and the amount that is in hand. It is very essential for any company to have inventory accounting for the purpose of planning its purchases.
Explanation:
"Goods in stock" is called inventoryIt can also be termed as the amount of goods "stored for the purpose of business".The materials are on hold either for sale or for re-saleIt can contain even "raw materials" and also parts to assemble productsIt is a process of listing or accounting the number of items and the name of the item available readilyThere is a "difference between inventory and stock"If an oligopolistic industry organizes itself as a cooperative cartel, it will produce a quantity of output that is ________ the competitive level and ________ the monopoly level.
Answer:
Less than, equal to
Under cooperative cartel, an oligopolistic industry behaves like a monopolist, producing output lower than competitive level and equal to the monopoly level.
Explanation:When an oligopolistic industry organizes itself as a cooperative cartel, it will aim to maximize profits by behaving like a monopolist. This implies that it will produce a quantity of output that is less than the competitive level and equal to the monopoly level.
The cartel limits the total output and each firm is assigned a portion of the total output. This decision leads to a higher market price, hence, their output level is lower than what it would be in a perfectly competitive market.
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Your company introduced a new product one month ago. Since then, the Website has processed so many orders that the shipping and handling department has become overwhelmed. Also, sales representatives have been overwhelmed with questions about the product. The sales team needs a more efficient way to reduce questions about the new product so they can concentrate on generating more orders. What can your Web team do to help reduce the questions directed to the sales team
Answer: The web team can create a FAQ page.
Explanation: FAQ is an abbreviation for Frequently Asked Questions. A FAQ page is a page on an c ecommerce store, where answers to important questions about a company or its products and services have been stored. This is done to clarify the uncertainties of customers and show them how the company or its products and services work.
This will greatly help the company reduce questions directed to sales team, as customers can easily find answer to their questions in the FAQ page
Using the above information, fill in the chart below with the amounts that should be reported for total cost of goods sold for December and the cost of ending inventory at Dec 31 under both the FIFO and LIFO cost flow assumptions.
Answer: please refer to te explanation section
Explanation:
The question is incomplete , to calculate inventory balance under FIFO or LIFO we need inventory transactions. The Transactions were not given in the question. I will explain the FIFO and LIFO concepts and also provide an example to show how to use these concepts.
FIFO Costing Method
FIFO costing Method is an inventory costing system that is based on the assumption that stock items purchased or stock items placed in inventory first will be sold first hence the acronym FIFO which stands for first in first out. the balance of inventory at the end of the period thus shows stock most recently purchased stock items or stock items placed in inventory.
LIFO Costing
Method LIFO costing Method is an inventory costing system that is based on the assumption that stock items most recently Purchased or stock items most recently placed in inventory will be sold first, hence the acronym LIFO which stands for last in first out.
example
10 February 2019 Purchased inventory for $1000. 100 units costing $10 each.
15 February 2019 Purchased inventory for $4500. 300 units costing $15
20 February 2019 Sold 150 units of inventory.
FIFO method
150 units were sold, therefore the first 100 units out of 150 will taken from inventory purchased on the 10th of February and 50 units will take from inventory purchased on the 15th of February. The inventory Balance will 300 units minus 50 units
inventory Balance = (300 - 50) x 10 = 250 x 15 = 3750
LIFO method
150 units were sold, the entire 150 units sold will be taken from inventory purchased on 15th of February. inventory balance will 300 units minus 150 units sold plus 100 units from inventory purchased on the 10th.
inventory Balance = (30 -150) x 15 + 100 x 10 = (150 x 15) + (100 x 10) = 3250
When consumers consider all types of household cleaners, they are considering the _____ of household cleaners. When consumers limit their choice of household cleaner to only those that come in spray bottles. they are considering a __________ of household cleaners.a. product class; product brandb. product group; product brandc. product class; product formd. product line; product mixe. product mix; product line
Answer:
c. product class; product form
Explanation:
Since in the question it is talking about the types of householder cleaners that reflect the product class or we can say types of product or product category
and if the consumers want to limit their choices so it is to be come under the product form that reflects the different forms of product
Like the vegetables is a product class and its form can be in terms of fresh, frozen, etc
Helen, a high school teacher, wants her students to actively participate more in class. She has decided to use reinforcement theory to get the required results. Which of the following methods is she most likely to use?
Answer:
She would an extra mark each time to contribute to a topic
Explanation:
Giving extra marks each time students contribute to a topic will increase the participation rate in class as more students will want to make contributions so as to get the extra marks.
At year-end, harris co. had shipped $12,500 of merchandise fob destination to harlow co. which company should include the $12,500 of merchandise in transit as part of its year-end inventory?
Answer:
The answer is Harris Co, who should include the $12,500 of the merchandise in transit as part of its year-end inventory.
Explanation:
For this question, we must first need to understand the FOB destination.
FOB destination:
Selling term under which the ownership of goods sold and shipped remain with the seller - Harris Co.This is until the goods arrive at the buyer's destinationOnce the goods reached at buyer's receiving dock, the ownership is transferred to the buyer from the seller - In this case, buyer is Harlow CoFurther explanation:
In this case, Harris Co shipped $12,500 of merchandise FOB destination to Harlow Co. The ownership will remain with the company Harris Co (seller) that shipped the goods to Harlow Co (buyer), until they arrive at the buyer company Harlow Co's receiving dock.
Please match each term with the correct definition. The difference between the amount the government collects and how much it spends is known as the When the preceding term is combined with all of the privately held savings from across the country, it is known as the If the government spends more money than it takes in through taxes, it will experience a The net amount of funds coming into a country is the Answer Bank badget surplus national savings capital inflow budget deficit bdect balance If the government spends less money than it takes in through taxes, it will experience a The fundamental relationship between savings and investment spending is that O savings will decrease as investment spending increases O savings will increase as investment spending decreases O investment spending promises higher financial returns than O investment spending and savings are always equal.
1)The difference between the amount the government collects and how much it spends is known as the budget balance
Explanation:
1)The difference between the amount the government collects and how much it spends is known as the budget balance
2)When the preceding term is combined with all of the privately held savings from across the country, it is known as the national savings
3) If the government spends more money than it takes in through taxes, it will experience budget surplus
4) The net amount of funds coming into a country is the capital inflow
5) If the government spends less money than it takes in through taxes, it will experience Budget Deficit
6)The fundamental relationship between savings and investment spending is that investment spending and savings are always equal
Chief financial officer Barry submits travel and expense reports that are completely genuine and encourages employees in his division to always give accurate and correct information. Barry is using the ethical initiative called:________.a. leading by example. b. open-book management. c. accepting whistleblowers. d. developinf formal mechanism for dealing with ethical problems.
Answer: A) Leading by example
Explanation:
Leading by example means to act in a way that shows others how to act. Barry has led by example by submitting travel and expense reports that are genuine. This will inspire his employees or subodinates to do same.
Leadership is not about talking the talk, this type of leaders also walks the walk. Leaders expect others to do the right thing by leading from example.
Adidas has identified two different customer groups for its shoes with Boost technology: an older group concerned with performance, and a younger group interested in style. Which aspect of the marketing environment does the split between these two groups represent? a. technology. b. political/legal. c. social. d. demographic.
Answer:
D. demographics
Explanation:
Demographics refers to statistical data that deals with the characteristics of a population. These characteristics include age, sex, income, marital status,gender, etc.
In the case of the question, the population of groups of older men who want performance and younger men who want style refer to demographics.
This is normal in any business as there are different people with different characteristics but that want a certain tye of product from the business. In business, socioeconomic characteristics are usually factors of demographics and these factors include; age, income, education level, marital status, etc.
I hope this helps.
Final answer:
The aspect of the marketing environment represented by Adidas' differentiation between the two customer groups for its Boost technology shoes is d) demographics, where marketing strategies are tailored to the specific characteristics and preferences of each group.
Explanation:
The demographic split between Adidas' two identified customer groups for its shoes with Boost technology is represented by the aspect of the marketing environment that focuses on d) demographics. Demographics relate to the statistical characteristics of populations and are a crucial component in marketing for segmenting audience groups based on variables like age, gender, income, and lifestyle preferences. This demographic segmentation is based on age-related preferences and interests, with one group focused on performance and the other on style. By targeting different age groups with distinct preferences, Adidas can tailor its marketing strategies to effectively reach and engage both segments. Therefore, the classification of an older group concerned with performance and a younger group interested in style falls under demographic segmentation, which allows Adidas to tailor its marketing strategies to each group's specific preferences and behaviors.
Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, including pilots. Employees exempt from the Fair Labor Standards Act's overtime provisions include all of the following except
A) aircraft mechanics
B) computerprogrammers.
C) outside salespersons.
D) professionals.
Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, including pilots. Employees exempt from the Fair Labor Standards Act's overtime provisions include all of the following except (A) aircraft mechanics
Explanation:
Section 13(a)(1) of the Fair Labor Standards Act's-FLSA provides an exemption from both minimum wage and overtime pay for employees who are employed as bonafide executive, administrative, professional and outside sales employees.
Section 13(a)(1) and Section 13(a)(17) of Fair Labor Standards Act's also exempt certain computer employees.
To qualify for exemption under the Fair Labor Standards Act , employees generally must meet certain tests regarding their job duties and be paid on a salary basis at not less than $684* per week.
What will be the value of discountRate after the following statements are executed? double discountRate = 0.0; int purchase = 1250; char cust = 'N'; if (purchase > 1000) if (cust == 'Y') discountRate = 0.05; else discountRate = 0.04; else if (purchase > 750) if (cust == 'Y') discountRate = 0.04; else discountRate = 0.03; else discountRate = 0.0;
Answer:
The question is incomplete, the options include:
a. 0.03
b. 0.05
c. 0.04 is Correct
d. 0.0
Explanation:
Seeing that the Purchase is = 1250,
in other words, purchase > 1000 is valid and therefore the first if block is executed.
And cust = ' N ' and,
if implemented and discountRate fixed to 0.04, cust = = ' Y ' is false, and else within first.
_____ is a strategy for reducing risk by buying a variety of items so that the failure of one stock or one business does not doom the entire portfolio. Group of answer choices Diversification Exit planning Retrenchment Downsizing
Answer: Diversification
Explanation: Diversification strategy involves widening the scope of the organization across different products and market sector. Furthermore, it is used to expand firms operations and productivity by adding markets, products, services, or stages of production to the existing business and the main aim of diversification is to minimize the risk by investing in range of products. It helps in reducing the market volatility.
During the year, Apex Co. sold an unprofitable component of the company. The component had a net loss from operations during the period of $150,000 and its assets sold at a loss of $100,000. Apex reported income from continuing operations before taxes of $128,387. All items are taxed at 30%. How would this item appear in the income statement?
Answer: In the Apex income statement,
Income from continuing operations before taxes $128,387
Taxation $36,483.9
Profit for the year from continuing operations $164,870.9
Loss from discontinued
operations ($175,000)
Loss for the year ($10,129.1)
Explanation: First, there was a tax expense on the profit from continuing operations to the tune of $38,516.1 (30% of $128,387) because the company made a gain. Subsequently, there was a deferred tax asset on the loss sustained on discontinued operations of $75,000 therefore resulting in tax asset of $36,483.9.
There is usually a need to report the profit from continuing operations separately from that of discontinued operations so that actual profit and cash flows from continuing operations can be easily recognizable from that of discontinued operations. In that way, the users of the financial statements would be able to distinguish between the two profit lines.
At her neighbor's garage sale, Constance buys a vanity dressing table from her neighbor, Carlos, for $160. Constance purchased the vanity table for her own personal use, without any knowledge that Carlos has signed a security agreement giving All Purpose Furniture Inc. a security interest in the vanity table. All Purpose Furniture did not file a financing statement. Constance does not know that Carlos is still paying off the purchase money security interest and owes All Purpose Furniture, Inc. $400. Under these circumstances:
Constance takes the vanity table free of All Purpose's security interest because she is a buyer of consumer goods.
Answer:
Constance takes the vanity table free of All Purpose's security interest because she is a buyer of consumer goods.
Explanation:
Martina wants to expand her business. She will need to buy a larger facility and equip it with additional machinery. She should look into the SBA loan program that provides long-term financing for small businesses to acquire real estate or machinery and equipment called the _________.
Answer:
Certified Development Company 504 Loan Program
Explanation:
The US Small Business Administration 504 Loan or Certified Development Company program is designed to provide financing for the purchase of fixed assets, which also means real estate, buildings and machinery, at a price below the normal market rate. Its mission involve boosting the development of various businesses. The SBA offers a number of different loan programs linked to a particular capital need of growing businesses. The 504 program works by sharing the loan among three parties. The business owner puts in a minimum of 10%, a conventional lender which is the bank puts up 50%, and Certified Development Company (CDC) puts up the remaining 40%.
Folger Company recognizes an unrealized holding gain for debt investments that are classified as AFS. If the company had classified the investments as trading securities, its total shareholders' equity would be
Answer: Share holders Equity = equity stock + Fair Value of Trading securities
Explanation:
Trading Securities are securities purchased by a business with the sole purpose of gaining profits,Trading Securities are purchased when the company speculates short term profits.
Trading Securities are recognized as current Assets in the statement of financial position. They are recognised at their Fair Value and they will be offset in the Shareholders equity as Proceeds from sale of short term investments.
Shareholders Equity will include the Fair Value (Balances) of Trading Assets. When Fair Value changes, The change in the Fair Value will be recognised in the income statement as Unrealized Gains on short term investments.
Klivinich is a manufacturer of oral hygiene products. In addition to manufacturing and selling oral hygiene products, Klivinich also focuses on educating its customers on oral hygiene and dental problems. All its employees are trained to answer questions and help customers with oral hygiene and dental problems. This has helped Klivinich ________.A) produce low-cost products
B) procure rare resources
C) achieve a competitive advantage
D) form a strategic alliance
Answer:
Option C Achieve a competitive advantage
Explanation:
The reason is that anything brings an upperhand over the other competitors is competitive advantage. This might be due to product uniqueness or due to customer after sales services or anything in our product that the customer values more than the feature of other competitors. In this scenario, the advice of the K Company is valued by the customers and thats the reason they prefer its products because they give valuable advice with their products.
Klivinich has achieved a competitive advantage by focusing on educating its customers on oral hygiene and dental problems.
Explanation:Klivinich has achieved a competitive advantage by focusing on educating its customers on oral hygiene and dental problems. By training its employees to answer questions and offer assistance, Klivinich provides superior customer service and establishes itself as an expert in the industry. This not only helps build customer loyalty but also sets Klivinich apart from its competitors.
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Suppose you land a job with Google right out of college. Your economics training is very valuable to them, so you receive a starting annual salary of $65,000. What is the total amount of social insurance taxes for which you will be responsible after your first year of work
Answer:
$4,030
Explanation:
Social Security tax is the tax levied on both employers and employees to fund the Social Security program. The total for the social security tax is 12.4%, so the employees and employers divides it equally among themselves which gives 6.2% each.
So the total amount of tax I will responsible to pay at then end of the first service year will be
= 6.2% * $65000
= $4,030
While the Employer will pay the other part