Answer:
The correct answer would be, Customer's life time Value.
Explanation:
Subaru is an automobile company who is famous for its boxer engines in the cars above 1500 cc. Subaru is a division of Japanese transportation conglomerate.
A representative of Subaru has solid relationship with a customer, Phil. Phil is such a satisfied customer that he only wants Subaru every time he goes for a new purchase. Also he refers a lot of people to Subaru. The representative determines that if Phil continue to do so, his total value to the company would be $350,000. This figure includes Phil purchases as well as the purchases made by the people which he referred to Subaru. So this means, the representative has calculated the Phil's Lifetime Value.
The Subaru representative has calculated the lifetime value of a loyal customer named Phil, which includes his future purchases and referrals, emphasizing the importance of long-term customer relationships and a trustworthy reputation for business sustainability.
Explanation:The Subaru representative has calculated Phil's lifetime value to the company. This takes into account all the purchases Phil will make, as well as those made by customers who were referred to Subaru by Phil. A company's lifetime value calculation is an important metric for understanding the long-term benefits of maintaining a relationship with a customer, versus the short-term gains from a single transaction.
It also encourages businesses to deliver high-quality products and services, and to cultivate a trustworthy reputation, as this can lead to greater customer loyalty and referral business, ultimately supporting long-term profits and sustainability.
Zane emphasizes the importance of ________ in that his company tries to be a strong community citizen, supports non-profit organizations, and has used green technology in its building.
Answer:
sustainability
Explanation:
Sustainability is the ability to exist constantly in balance with the enviroment and it's inhabitants
Lara and her friends visit a new restaurant in town called Betelgeuse. They just happen to notice it while on a long drive. Lara and her friends like the ambience, décor, as well as the food. Lara is surprised when she finds out that the restaurant has been open for two years and neither her friends nor she knew of it until that day. At which of the following aspects of marketing has Betelgeuse failed?
Creating value for potential customers
Measuring the customers' perception of value
Delivering value to customers
Catering to both needs and wants of customers
Communicating value to potential customers
Answer:
Creating value for potential customers
Explanation:
Creating value is an important tactic that can be used by small businesses to acquire and retain customers, increase brand awareness, and differentiate one’s place in the marketplace.
William McChesney Martin, who was Federal Reserve chairman from 1951 to 1970, was once quoted as saying, "The role of the Federal Reserve is to remove the punchbowl just as the party gets going." When he said "to remove the punchbowl," he meant to engage in (contractionary/expansionary) policy.In terms of the economy, "just as the party gets going" refers to a situation in which a real GDP (great than/less than) potential GDP, which will result in (increase in/decrease in) the inflation rate.
Answer:
The answers are:
contractionary policy,
real GDP is greater than potential GDP,
increase in the inflation rate.
Explanation:
In order to understand this phrase we must first understand the meaning of several words or concepts.
Contractionary policy: monetary policy consisting in reducing the rate of monetary expansion by Federal Reserve (or in other countries the Central Bank). It is used to reduce inflation. Nominal GDP: total value of final goods and services produced in a country.Real GDP: the nominal GDP adjusted to inflation.Potential GDP: total amount of goods and services an economy would have been able to produce if it had been able to employ all of its available resources. Inflation: the rate at which the average price of products and services is rising. If this rate rises continuously then a unit of money will buy less products than before.So one of the primary roles of the FED is to engage in contractionary policy (to try to reduce inflation) if the real GDP is greater than potential GDP (due to inflation), which will result in a further increase in the inflation rate.
Edgar is a chef and the kitchen manager in an upscale restaurant. He is very knowledgeable in both the culinary and restaurant management fields. Because he possesses these technical skills, Edgar can be considered a(n) ________ worker.
Answer:
The correct answer would be, Knowledge Worker. Edgar can be considered a Knowledge Worker.
Explanation:
A knowledge worker is a person who is skilled in handling and using the information.
So because Edgar is a Chef in a restaurant and he is also the kitchen manager, It shows his expertise in both culinary and restaurant management fields. He is expert in Cooking as a chef, and is well skilled in managing the kitchen as well. He is technically equipped with management skills in restaurant field. So Edgar is considered a Knowledge Worker.
Final answer:
Edgar is a chef and kitchen manager with considerable expertise in culinary arts and restaurant management, qualifying him as a skilled worker knowledgeable in food science and capable of both meal preparation and kitchen operation management.
Explanation:
Edgar, being a chef and the kitchen manager with extensive knowledge in culinary arts and restaurant management, can be considered a skilled worker. Expert chefs have knowledge of food science, nutrition, and diet, and are tasked with creating meals that are visually appealing and delicious. Moreover, in a restaurant setting, various roles such as sous chefs, kitchen help, servers, and managers split the tasks of serving meals. As a kitchen manager, Edgar not only has to be skilled in preparing food but also in managing the smooth operation of the kitchen, which involves business management skills like handling finances and personnel.
Juicebox Inc., a fruit juice processing company, has been facing irregular demand patterns for the last two years. These large fluctuations have created a bullwhip effect for the company. Which of the following steps will Juicebox Inc. most likely take to cope with this effect?
a. reduce the number of employees to cut costs
b. follow the just-in-time inventory policy
c. carry larger inventories
d. reduce its annual production of juice
Answer:
The correct option is (b)
Explanation:
Bullwhip effect is an effect caused as a result of variations in demand. it affects the supply chain management. Bullwhip effect causes as a result of irregular demand that affects retailers and subsequently move above the supply chain to impact manufacturers and wholesalers adversely.
One of the remedies to cope with bullwhip effect is just in time approach as inventory is created when there is an increase in demand keeping erratic demand in control. This will not create large inventory or shortage, thereby reducing the bullwhip effect.
Final answer:
Juicebox Inc. is likely to adopt the just-in-time inventory policy to cope with the bullwhip effect caused by irregular demand patterns, which allows for inventory reduction and better quality control.
Explanation:
Juicebox Inc., a fruit juice processing company, has been facing irregular demand patterns causing a bullwhip effect. To cope with this effect, Juicebox Inc. will most likely follow the just-in-time inventory policy. This strategy focuses on reducing inventory levels, improving quality control, and relying on coordinated schedules between suppliers and manufacturers to ensure parts and products are available when needed, without maintaining large inventories. The just-in-time approach not only reduces storage costs but also facilitates identifying quality issues promptly, as less stock is held at any given time. Thus, option (b) is the most suitable action for Juicebox Inc. to mitigate the impacts of the bullwhip effect.
The Boldovian government took Sea Lion Inc., a domestic, private shipbuilding firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the shipbuilding industry were raged at this decision of the government. As a result, the government had to reduce the tax burden on all other private shipbuilding firms so that both the state-owned enterprise and private firms could co-exist. According to this information, Boldovia has most likely adopted a _____ economy.
A. mixed
B. market-based
C. command
D. laissez-faire
E. communist
Answer:
A. mixed
Explanation:
It is a mixed economy because it combines state-owned business with private business in the same sector to compete between each other, and it also combined with a market-based policy such as tax cuts on the private ones. So it keeps the market while having a state-owned business competing in it. It is a classic mixed economy.
Answer:
The correct answer is A. Mixed.
Explanation:
The mixed economy refers to an economic model that uses the market to allocate resources, but in which the State intervenes to regulate its operation, incorporates elements of the free market economy and the planned economy, or a proposal in which the private ownership of capitalism and the collective ownership of socialism coexist (in general, and not exclusively, in a state or public way) in order to include broader social considerations in an economic system, for example, ethics, social justice, social welfare, sustainable management of the environment, etc. It is the economic model defended by the social democratic currents, being its most obvious example, the Scandinavian countries, such as Norway, Sweden or Denmark. On the other hand, the term is not exempt from debate, nor is there a commonly accepted strict definition, either in English or Spanish.
A house sits on the corner of a busy intersection. Two of the corners are occupied by gas stations, and directly across from the house is a fast food restaurant. The house's owners have been told that the property would be worth more if the lot were vacant. This is an example ofA.progression.B. highest and best use.C. regression.D. conservation.
Answer:
The correct answer is B. highest and best use.
Explanation:
This is a principle by which the value of a property capable of being dedicated to different uses will be the one that results from allocating it, within the legal and physical possibilities, to the most economically advisable, or if it is capable of being built with different building intensities , will be the result of building it, within the legal and physical possibilities, with the intensity that allows to obtain its greatest value.
The study of how limited resources are allocated to satisfy unlimited wants. B. the study of how unlimited resources are allocated to satisfy limited wants. C. the study of how the stock market works. D. the study of money.
Answer:
The correct answer is The study of how limited resources are allocated to satisfy unlimited wants.
Explanation:
Economics is a social science that studies how to manage the resources available to meet human needs. In addition, it also studies the behavior and actions of human beings.
Since the resources of the planet are scarce and unfortunately, not all of us can dispose of everything, we are forced to manage those goods to get what we need. Economic science involves the decision making of individuals, organizations and states to allocate these scarce resources.
The economy also focuses on the behavior of individuals, their interaction with certain events and the effect they produce on their environment. For example, the effect they produce on prices, production, wealth or consumption, among others. It is a social science because it studies human activity and behavior, which is a highly dynamic object of study. Humans are unpredictable.
A U.S. firm has borrowed £50 million from a British firm. The borrower will need to convert dollars to pounds to repay the loan when it is due. The U.S. firm could hedge the exchange rate risk by A.buying pounds forward.B. selling pounds forward.C. borrowing pounds.D. both B and C would hedge the risk E. both A and C would hedge the risk
The answer is D. both B and C would hedge the risk
To inspire innovation, Jinyuan encourages his employees to devote one afternoon a month to work on pet projects, just to spend time in the lab experimenting and thinking freely. He is acting in the ______ role.a. entrepreneurb. disturbance handlerc. resource allocaterd. negotiatore. liaison
Answer:
Entrepreneur
Explanation:
Entrepreneur
Is the person who create a new business , with most of the risks and gaining most of the rewards .
An entrepreneur act as a innovator , source of new ideas , services , goods .
The person plays an important role in the economy , with good skills and determination to anticipate needs and get new idea for the market .
From the question , Jinyuan act as an Entrepreneur .
The management of Omega Manufacturing is implementing a plan to minimize production mistakes by allowing teams that work in each area of the production facility to develop a plan and then monitor their area to ensure the reduction of errors. The managers are engaging in____________
Answer:
The correct answer would be, Quality Control. The managers are engaging in Quality Control.
Explanation:
When the production mistakes are reduced or eliminated to an extent, that the company produces the product according to the standards and specifications of the product design, the whole process is about controlling and ensuring the quality. So if the company, Omega Manufacturing, is implementing a plan to minimize mistakes by allowing teams that work in each area of the production facility to develop a plan and then monitor their area to ensure the reduction of errors, the managers are basically engaging in the Quality Control of the product.
Assume that $1 million is deposited into a bank with a reserve requirement of 15 percent. The value of the money multiplier is 6.67.
What is the maximum change in money supply as a result of this deposit? (Round your answer to two decimal places.)
Answer:
maximum change in money supply is $6.67 million
Explanation:
given data
deposit = $1 million
reserve requirement = 15%
money multiplier = 6.67
to find out
maximum change in money supply
solution
we know here money multiplier is given = 6.67
so maximum change in money will be
maximum change = deposit × money multiplier
put here value
maximum change = $1 million × 6.67
maximum change = $6.67 million
so maximum change in money supply is $6.67 million
The monthly salaries of a sample of 100 employees were rounded to the nearest $10. They ranged from a low of $1,040 to a high of $1,720. If we want to condense the data into seven classes, what is the most convenient class interval?
$50
$200
$150
$100
i will say its c since it come close and touches thats one
Answer:100
Explanation:1720-1040=680/7=97.1
In the resource-based model of above-average returns, a capability is:
a. an input into a firm's production process.
b. the foundation for a firm's mission.
c. the capacity for a set of resources to perform a task or an activity in an integrative manner.
d. a product of a large number of firms competing against one another in an increasing number of global economies.
Answer:
The correct answer is c. the capacity for a set of resources to perform a task or an activity in an integrative manner.
Explanation:
The central assumption of the resource-based model says that the company's unique capabilities, resources and core competencies influence the choice and use of strategies rather than the external environment of the company. This yields higher than average returns when uses its valuable and unique capabilities, expensive to imitate and impossible to substitute to compete against its rivals in one or more industries. The evidence indicates that the two models provide knowledge that is linked to the choice and successful use of strategies. Consequently, companies want to use their unique core resources, capabilities and competencies as the basis for one or more strategies that allow them to compete in industries they understand.
The Laffer curve relates _____________________
a) the tax rate to the deadweight loss of the tax.
b) the price elasticity of supply to the deadweight loss of the tax.
c) the tax rate to tax revenue raised by the tax.
d) government welfare payments to the birth rate.
Answer:
c) the tax rate to tax revenue raised by the tax.
Explanation:
The Laffer curve shows the correlation between the tax rate and the revenue that the government that is imposing those taxes is generating, it was first proposed by Arthur Laffer and it tried to explain the best point where maximum tax rate would mean maximun tax revenue, and search for that spot where the revenue would be maximized by the tax rate.
The Laffer curve relates the tax rate to tax revenue raised by the government. It proposes an optimal tax rate at which tax revenue would be maximized. However, it's a theoretical model, and actual scenarios may differ due to various factors.
Explanation:The Laffer curve is a graphic representation used in economics. Named after economist Arthur Laffer, it illustrates the theoretical relationship between tax rates and tax revenue raised by the government. The option that rightly fits in the blank in your question is: The Laffer curve relates the tax rate to tax revenue raised by the tax.
This curve suggests that at a tax rate of 0% and a tax rate of 100%, government earns zero revenue. The reason is simple: at a 0% rate, people pay no tax, so revenue is zero. At a 100% rate, people have no incentive to work because all their income would go to the government, hence also zero revenue. Therefore, the curve shows an optimal tax rate where tax revenue would be maximized.
It's important to note that the curve is a theoretical construct and the actual optimal tax rate might differ in real-world scenarios due to a variety of economic and socio-political factors.
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A bank statement
a. lets a depositor know the financial position of the bank as of a certain date.
b. provides a summary of all checking account transactions recorded by the bank.
c. is a credit reference letter written by the depositor's bank.
d. is a bill from the bank for services rendered.
Answer:
The correct answer is b. Provides a summary of all checking account transactions recorded by the bank.
Explanation:
A bank statement is a montly report of all the financial transactions made in a bank account, that is sent to the account holder. The statement can be a physical copy or an electronic document, and will show the customer's information, statement date period, account number, customer service number and the date of each transaction. These transactions are:
Account's beginning balance, Deposits of checks and cash, Withdrawals, Interest earned, Bank service fees and penalties and The ending balance for the period in question.Account holders are advised to do a timely review of their bank statement to verify that the transactions recorded match with their own financial records. When the records don't match there is a possibility of fraud or errors and they should be reported inmediately to the bank by providing the supporting documentation.
A bank statement provides a summary of all checking account transactions recorded by the bank, enabling account holders to monitor their financial activities for accuracy.
Explanation:A bank statement is a document provided by a bank that outlines all the transactions in a depositor's account over a certain period. The correct answer to the student's question is b. provides a summary of all checking account transactions recorded by the bank. A bank statement includes deposits, withdrawals, checks cleared, and any other charges or credits to the account. It's a tool for customers to review their financial transactions and ensure all recorded activities are accurate and no fraudulent activities have occurred within their accounts.
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Jenny’s Sweets’s Accounts Payable balance on the April 30th trial balance is $27,000. On May 30th Jenny paid invoices totaling $10,000 and invoiced customers for a total of $8,000. What is the balance of Jenny’s accounts payable account on their May 31st trial balance?
Answer: $17,000
Explanation:
Accounts Payable is a type of liability that reflects the amount that the company owes to suppliers and creditors for services already rendered. These services have already occurred and were thus done on credit.
Jenny paid $10,000 of this balance out, which decreases this overall balance:
27 000 - 10 000 = $ 17, 000.
The $8,000 invoiced to customers has no effect on Accounts Payable. This is because this $8,000 figure represents sales that were made on credit by customers, and not purchases made by the company. As a result, this figure goes to the Accounts Receivable balance, which is an asset, as this is cash that still needs to be received for services rendered by Jenny's Sweets.
Therefor the balance on 31 May in the Accounts Payable section is $17,000.
A corporation was organized in January 2018 with authorized capital of $10 par value common stock. On February 1, 2018, shares were issued at par for cash. On March 1, 2018, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on
February 1, 2018 March 1, 2018
1. Yes and Yes
2. No and No
3. Yes and No
4. No and Yes
Answer:
4. No and Yes
Explanation:
On march 1, 2018 the paid in capital will increase by $20000 ($90000 - 7000×$10 )
In recent years the cost of producing organic produce in the United States has decreased largely due technological advancement. At the same time, more and more Americans prefer organic produce over conventional produce. Which of the following best explains the effect of these events in the organic produce market?
A) Both the supply and demand curve have shifted to the right. As a result there has been an increasein both the equilibrium price and the equilibrium quantity B)The supply has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on equilibrium price C) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result there has been an increase in the equilibrium price and anuncertain effect on equilibrium qunatity D) Both the supply and demand curves have shifted to the right. As a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price
Answer:
The correct answer is option D.
Explanation:
Suppose technological advancement has helped in decreasing the cost of producing organic produce. This means that the farmers can now produce more at the same cost. As a result, the supply of organic produce will increase. This will cause a rightward shift in the supply curve.
At the same time, the demand for organic produce has increased. This will lead to a rightward shift in the demand curve.
The rightward shift in both demand and supply curve will lead to an increase in the equilibrium quantity. The change in the price level depends on the extent of the change in demand and supply.
In the organic produce market, technological advancements and an increase in organic preference have both shifted the supply and demand curves to the right, resulting in a higher equilibrium quantity, but leaving the effect on equilibrium price uncertain. Prices may not fall significantly unless the supply increases more than the demand.
The situation described involves both an increase in the number of farmers converting to organic farming, shifting the supply curve to the right, and a rising preference among Americans for organic produce, shifting the demand curve to the right. The correct effect of these events in the organic produce market is most likely an increase in the equilibrium quantity and an uncertain effect on the equilibrium price. This uncertainty stems from the fact that the price will only decrease if the increase in supply is more significant than the increase in demand. While technology has reduced some costs, organic farming remains expensive due to higher costs for organic fertilizers and pest management.
Over time, as the number of farmers grows and technology progresses, we may see further shifts in supply. However, the extent to which this will affect prices is not yet clear since organic produce may continue to be more costly than non-organic produce. The overall impact on market equilibrium price and quantity will depend on the relative magnitudes of shifts in supply and demand for organic produce.
Olivia bakes cakes and Andrew grows corn. Olivia and Andrew both like to eat cake and eat corn. In which of the following cases is it impossible for both Olivia and Andrew to benefit from trade?
a. Olivia cannot grow corn and Andrew cannot bake cakes.
b. Olivia is better than Andrew at baking cakes and Andrew is better than Olivia at growing corn.
c. Olivia is better than Andrew at baking cakes and at growing corn.
d. Both Olivia and Andrew can benefit from trade in all of the above cases.
Answer:
Both Olivia and Andrew can benefit from trade in all of the above cases.
Explanation:
Both Olivia and Andrew can benefit from trade in all of the above cases.
All given scenarios a, b, and c allow for mutually beneficial trade between Olivia and Andrew when applying the principles of comparative advantage and opportunity cost. Therefore, it is always possible for both parties to gain from trade. Option d is correct.
The question revolves around the concept of trade and comparative advantage between two individuals with different production abilities. The scenario presents Olivia who bakes cakes and Andrew who grows corn. They are both interested in consuming what the other produces. Looking at the options:
Option a suggests a situation where each individual cannot produce the other's product, which is a perfect situation for trade as they each have a unique product to offer.Option b demonstrates comparative advantage, where each party is most efficient at producing a particular good and will benefit from trade by specializing in their respective areas of expertise.Option c indicates that one party, Olivia, is better at producing both goods. However, the principle of comparative advantage may still allow for beneficial trade if Olivia's opportunity cost of producing both goods is considered. She may have a lower opportunity cost for one of the products.Option d implies that trade is always beneficial, which aligns with economic theories that suggest voluntary trade is mutually beneficial assuming that parties trade based on their opportunity costs.Therefore, the correct answer is Option d: Both Olivia and Andrew can benefit from trade in all of the above cases, provided they trade according to their comparative advantage.
Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and owned by Earle Martin. During the past month, Tiny Town Kennel has the following transactions:
a) Received $520 cash for service revenue earned.
b) Paid $325 cash for salaries expense.
c) Martin contributed $1,000 to the business in exchange for capital.
d) Earned $640 for service revenue, but the customer has not paid Tiny Town Kennel yet.
e) Received utility bill of $85, which will be paid next month.
f) Martin withdrew $100 cash.
Indicate the effects of the business transactions on the accounting equation for Tiny Town Kennel.
Transaction (a) is answered as a guide. a. Increase asset (Cash): Increase equiy (Service Revenue)
Answer:
a) Increase asset (Cash): Increase equity (Service Revenue) - GUIDE
b) Decrease equity (Salaries): Decrease asset (Cash)
c) Increase asset (Cash): Increase equity (Capital)
d) Increase asset (Receivable Accounts): Increase equity (Service Revenue)
e) Decrease equity (Utility): Increased liabilities (Others payable accounts)
f) Decrease equity (Capital): Decrease assets (Cash)
Explanation:
Accounting Equation Formula :
Assets = Liabilities + Equity
According to the formula transactions must be recorded as follows:
DEBIT: Asset increases, Liabilities decreases, and Equity decrease.
CREDIT: Asset decreases, Liabilities increases, and Equity increase.
Transaction (a) increases assets and equity, while the remaining transactions have various effects on the accounting equation.
Explanation:Transaction (a) has already been answered. Let's analyze the effects on the accounting equation for the remaining transactions:
(b) Decrease asset (Cash): Decrease equity (Salaries Expense)(c) Increase asset (Cash): Increase equity (Capital)(d) Increase asset (Accounts Receivable): Increase equity (Service Revenue)(e) No effect on the accounting equation since it is a liability that will be paid in the future.(f) Decrease asset (Cash): Decrease equity (Withdrawals)By analyzing the transactions, we can see the effects on the accounting equation for each transaction, which allows us to track the changes in the financial position of Tiny Town Kennel.
With respect to compilation, the syntax analyzer takes the lexical units from the lexical analyzer and uses them to construct hierarchical structures called .
Answer:
parse tree or parsing tree
Explanation:
A parse tree or parsing tree is an organized, rooted diagram representing a string's lexical framework in quite a reference-free language.
They are mainly used in computer language. Parse trees represent the input language context in practical terms, rendering them different from conceptual syntax trees used in programming.
DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. Should DeShawn continue to offer the engine detailing service?
Answer:
DeShawn not take offer engine detailing service
Explanation:
given data
cost = $40
charges = $75
total price = $90
additional charges = $20
to find out
Should DeShawn continue offer
solution
we know here De shawn marginal benefit is
marginal benefit = total price - charges
marginal benefit = 90 - 75
marginal benefit = $15
and
we have given additional charges is $20
so
we see marginal cost here less than the marginal revenue
so DeShawn not take offer engine detailing service
Final answer:
DeShawn should consider continuing the engine detailing service as it adds an additional $30 profit per service, though he should evaluate if the extra time and effort are worth the profit, especially compared to the $35 profit from the basic package.
Explanation:
Whether or not DeShawn should continue to offer engine detailing service depends on the costs versus the revenue generated from that service. DeShawn's basic detailing package costs him $40 and he charges $75 for it. The engine detailing adds $20 to the total cost, making it $60, but allows DeShawn to charge a total of $90 for the service. This results in a profit of $30 for the engine detailing service alone ($90 total charge - $60 total cost), which is less than the $35 profit he makes from the basic package alone (without the engine detailing).
Since DeShawn still makes a profit from the engine detailing service, it could be argued that he should continue to offer this service, especially if it attracts more customers or encourages repeat business. However, if this service takes significantly more time or effort, the benefit might not be worth the extra profit, especially if it hinders his ability to complete multiple basic detailing jobs in the same amount of time.
During the current fiscal year, Jeremiah Corp. signed a long-term noncancellable purchase commitment with its primary supplier. Jeremiah agreed to purchase $1.5 million of raw materials during the next fiscal year under this contract. At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $1.2 million. What is the journal entry at the end of the current fiscal year?
Answer:
Explanation:
The journal entry is shown below:
Not realized gain or loan A/c Dr $300,000
To Estimated liability on purchase of raw material $300,000
(Being the difference is recorded)
The difference is computed by
= Purchase value of raw material - market value of raw material
= $1,500,000 - $1,200,000
= $300,000
Your company has a cost differentiation strategy regarding its products. There are several new entrants into your saturated market that make the margins so slim on the product line you manage that profits are almost​ non-existent. What should you recommend to​ management?
Answer:
I recommend to change to an hybrid strategy
Explanation:
If you have almost nonexistent profits you have to change the strategy.
Nowadays customers expect to get everything at once: differentiated, high-quality products combined with excellent service at a low price. Customer expectations require companies to adopt a multidimensional strategic approach. Hybrid strategy integrate cost and differentiation advantages, so this could be a way to respond to these changes. Modern production technologies and organizational structures helps to achieve both high quality and productivity at the same time.
Some of the benefits of this strategy are,
Can increase market share because of the differentiationProduct innovation Increase of profits ( you can offer your product at a higher price)Answer:
Under Armour Sneaker
A saturated market means that a product has reached its peak in sales volume and that it can no longer grow and will start a decrease in sales, sneakers under armour has reached its peak in sales and will start to decrease in sales because of the fierce competition that is facing and has been unable to change its marketing strategy.
Explanation:
Imagine that you are the manager of valley skateboard shop. the accountant for the business has delivered the news that sales are down by 15 percent compared to last month. she also reports that the rent on the building will be increasing next month by $100. you believe the shop needs a more experienced salesperson and that the building needs new paint and awnings. how might the information delivered by the accountant affect your decisions and course of action?
The accountant's information would heavily influence the manager's decisions and course of action. The decreased sales and increased rent could cause reconsideration of hiring a new salesperson and renovating the building, depending on the potential return on investments.
Explanation:As the manager of the valley skateboard shop, the information delivered by the accountant has a significant impact on your decisions and course of action. The decrease in sales by 15 percent indicates a potential problem with either the product, marketing, or sales strategies, which may necessitate changes.
The upcoming increase in rent means that operational costs will rise, making it critical to increase revenue or reduce other expenses. This might impact your decision to hire a more experienced salesperson and repaint the building, depending on the potential return on investment these actions might yield.
For instance, if hiring a new salesperson could considerably boost sales and outweigh the cost, it would be a wise decision. However, considering the paint and awnings, if the current state of the building is not driving away customers or injuring sales in any way, then the renovation might be a lower priority action.
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Which of the following observations is true?
a. Fixed costs can be completely varied if the time period is sufficient.
b. Fixed costs arise when some types of inputs can be bought only in big batches.
c. Variable costs arise when inputs have a large productive capacity.
d. In the long run, more costs become variable.
Answer:
Which of the following observations is true?
d. In the long run, more costs become variable.
Explanation:
The long run is a period of time in which all factors of production and costs are variable.
The demand curve facing a perfectly competitive firm is
A. perfectly vertical.
B. downward-sloping and less flat than the market demand curve.
C. the same as the market demand curve.
D. downward-sloping and more flat than the market demand curve.
E. perfectly horizontal.
Answer:
Option (E) is correct.
Explanation:
Under the perfectly competitive market conditions, there are large number of buyers and sellers and there is no restrictions on the entry and exit of the firms. Prices of the goods are determined by the market forces and the demand curve for a firm in a perfectly competitive environment varies significantly from the market demand curve. The demand curve is horizontal because all the goods in a perfectly competitive market are considered as perfect substitutes.
The demand curve facing a perfectly competitive firm is perfectly horizontal (E), indicating that the firm can sell any quantity it wants at the market price without affecting the price itself, as it is a price taker in a perfectly competitive market.
Explanation:The demand curve facing a perfectly competitive firm is often described in economics. Students might encounter this concept in their studies, particularly when comparing different market structures. In a perfectly competitive market, each firm perceives the demand for its goods as being perfectly elastic. This concept is contrasted with a monopolistically competitive firm, which faces a demand curve that is an intermediate case between perfect competition and monopoly, and a monopoly, where the demand curve is the same as the market demand curve.
This means that the firm can sell as much as it wants at the market price, and the price does not change with the quantity supplied by the firm. The perfectly elastic demand curve represents the fact that the firm is a price taker and can sell its product at the prevailing market price with no influence on the price itself.
The Sarbanes-Oxley Act of 2002 (SOX) imposes stricter requirements over financial reporting and internal controls and stricter consequences for those who engage in financial statement misconduct and other white-collar crimes. True or False
Answer:
True or False. TRUE
Explanation:
The law "Sarbanes-Oxley Law" aims to generate a framework of transparency for the activities and financial reports of publicly traded companies, and give greater certainty and confidence to investors.
Suppose that some teachers have decided that economic and financial uncertainty have made the prospect of retiring more risky, and therefore carry a higher cost than not retiring. By using all available information as they act to achieve their goals, these teachers are exemplifying the economic idea that _______
Answer:
The correct answer is: "People are rational".
Explanation:
Economics is the study of people's rational options when faced with scarcity and uncertainty, and that happens to all of us. The problem is that people are hardly rational, because our nature often acts against our economic interests.
Not long ago and until today, the work is done during the day, that is, Monday through Friday; A reality for most people. However, much of the economic activity, both ours and the entire world, operates 24/7. Today, millions of workers have unpredictable schedules. This is especially common in jobs related to services and retail sales. For example, many chain stores use personnel algorithms with traffic and apparently this makes sense, but shareholders always expect efficient efforts to maximize profits. If not, however difficult it is, particularly for workers, to get another job.