At the point where actual inflation is equal to expected inflation
Answers
Answer: The short run Phillips curve intersects the long run Phillips curve.
Explanation: The Phillips curve states that unemployment and inflation have an inverse relationship. This means that they move in opposite directions, I.e. If inflation increases then unemployment decreases and vice versa.
In the graph attached the short run Phillips curve is L - shaped and shows the inverse relationship between both variables initially. The long run Phillips curve is a vertical line, and shows that unemployment rate remains steady regardless of inflation rate, in the long term. Where these 2 lines intersect is where actual inflation and expected inflation are the same.
Final answer:
Actual inflation matching expected inflation means that there is no change in purchasing power, as income increases cancel out price increases. This is exemplified by the hypothetical scenario in the Land of Funny Money. Real-world situations often differ because perfect anticipation of inflation is uncommon.
Explanation:
At the point where actual inflation is equal to expected inflation, economic agents' expected prices align with the actual prices in the market. If everyone anticipates inflation correctly, there will be no loss of purchasing power since the percentage increase in prices is equaled by a percentage increase in incomes. An intuitive example of this can be illustrated through the Land of Funny Money where overnight, a 20% increase occurred in all wages, prices, and monetary quantities. Though unexpected, this change had no economic impact because the relative value of goods did not change; hence individuals could purchase the same basket of goods as before.
The relation between inflation and economic outcomes also depends on the position of the economy. If the economy is operating at or near its potential GDP—reflected by an upward-sloping short-run aggregate supply (AS) in its steep range—inflationary pressures will be accompanied by low unemployment rates. In real-world cases, perfect inflation anticipation is rare and deviations can cause wealth redistributions or resource misallocations.
Related Questions
Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble's Head and Shoulders, which was being promoted as a glamorous health-oriented product. She had always thought of Head and Shoulders as an anti-dandruff shampoo. The new ads suggest that Head & Shoulders has been:
Answers
Answer:
rebranded
Explanation:
Rebranding tries to give a new image to an old product, in order to make it look attractive and successful. This new look will try to make the product more attractive and successful.
Head & Shoulders was seen as an anti-dandruff shampoo, and it was quite successful in its specific market. But then it changed its identity to be seen as a glamorous health oriented shampoo. If people see Head & Shoulders that way then its marketing strategy was very good since there is nothing glamorous in dandruff.
Most entities satisfy the accounting criteria for recognizing an expense when: Multiple Choice cash is paid to a supplier. a dividend is paid to stockholders. a cost is incurred in the revenue generating process. a commitment is made to purchase a product or service.
Answers
Answer:
The correct answer is A cost is incurred in the revenue generating process.
Explanation:
An expense is recognized in the income statement when a decrease in future economic benefits has arisen, related to a decrease in assets or an increase in liabilities, and also the expense can be measured reliably. In short, this means that such recognition of expenditure occurs simultaneously with the recognition of increases in obligations or decreases in assets.
The generation of economic benefits and their reliable monetary quantification are the essential requirements for the inclusion of a line item in the financial statements. Resources that do not generate financially translatable economic benefits for the entity and its owner-investors should not be recognized in the financial reports according to the IASB model.
Suppose that currency traders expect that the value of U.S. dollarU.S. dollar will fall in the future. How will this will affect the demand and supply of U.S. dollarU.S. dollar in the foreign exchange market?
Answers
Answer:There will be increase in supply and decrease in demand
Explanation:
One of the Law of demand states that the lower the price the higher the quantity demanded and vice versa, while for supply it states that the higher the price the higher the quantity supplied and vice versa.
Since the value of US dollar is still high then the supply will be high in the market, but with the expectation of future fall, demand will be low because buyers are waiting for drop in value. There will be excess supply and lower demand.
Brenda owns a store in a small town. The store sells a small range of everyday and impulse products, such as chocolates, magazines, novelties, and snacks. The store remains open seven days a week from 08:00 a.m. to 12:30 a.m. Brenda's store can be categorized as a(n) _____.A. department storeB. convenience storeC. outlet storeD. specialty store
Answers
Answer:
B. convenience store
Explanation:
A convenience store is a retail store that sells a small range of everyday and impulse products.
A speciality store is a retail store that sells specific types of products. E.g. pharmacies
An outlet store is owned by a manufacturer of a product, the manufacturer sells only its product in this store.
A department store is a retail store that sells a large variety of consumer products.
Which of the following is correct?
A) In unionized industries, wages are below the level that would prevail in competitive markets.
B) The introduction of a union in an industry reduces the quantity of labor demanded in that industry, causes some workers in that industry to be unemployed, and reduces wages in the rest of the economy.
C) There is a strong consensus among economists that unions are bad for the U.S. economy.
D) All of the above are correct.
Answers
Answer: There is a strong consensus among economists that unions are bad for the U.S. economy.
Explanation: A union is a group formed by employees of an establishment or workers of the government whose duty is to fight for improved working conditions of its members.
A union can sometimes make unrealistic demands to their employers and also unions tend to shut down economic activities of their sector of operation, if their demands are not met. These factors makes unions partly an economical disadvantage.
Which of the following would shift the demand for dollars in the market for foreign currency exchange to the right?
a. foreign citizens want to buy more U.S. goods and services at a given exchange rate
b. foreign citizens want to buy fewer U.S. goods and services at a given exchange rate
c. foreign citizens want to buy more U.S. bonds
d. foreign citizens want to by fewer U.S. bonds
Answers
Answer:
The correct answer is option a.
Explanation:
An increase in the demand for dollars will shift the demand curve to the right, in the market for foreign exchange. Dollars are demanded by foreign consumers to pay for the import or purchase of US products.
An increase in the demand for goods and services by the foreign producers will increase the demand for US dollars as well.
This will cause the demand for dollars curve to shift to the right. This rightward shift in the curve will increase the value of US dollars in the foreign exchange market.
Answer:
They make trade easier and more efficient.
Explanation:
Bruce is a single father with 1 child. He can work as a bagger at the local grocery store for $6 per hour up to 1,200 hours per year. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Bruce works, the government policy is to deduct 60 cents from his welfare stipend for every $1 that he earns in income. With this policy in place, if Bruce works 600 hours, his income will be_________.
Answers
Answer:
$16,440
Explanation:
If Bruce is able to work 600 hours per year, his salary will be $3,600 (= $6 x 600), but he will lose $2,160 (= $3,600 x 60%) of welfare stipend.
His total welfare stipend is $15,000 if he is not able to work during the year.
Bruce's total income = $15,000 + $3,600 - $2,160 = $16,440
E-Gadgets is a chain of electronics stores that specializes in devices and gadgets incorporating cutting-edge technologies. The company has more than 170 stores located in large cities throughout the Southeast and Midwest. E-Gadgets has chosen the locations of its stores so that most customers living in upper middle class and wealthy neighborhoods can get to an E-Gadgets store in less than 15 minutes. E-Gadgets is providing its customers with__________.
A)scrambled merchandising.B)allocative utility.C)place utility.D)saturation marketing.
Answers
Answer: Option (C)
Explanation:
Here, in this case the corporation E-Gadgets is providing its consumers with place utility. The organization E-Gadgets creates the utility for their product solely by character of its location. The organization is known to have more than 170 outlets that are located in most of the large cities. Under the place utility it is known that the attractiveness of a commodity that is sold can be further increased by changing the location.
Which of these is true about the cash cow?
a. It generates tremendous profits in a rapidly growing industry.
b. It has a small market share in a rapidly growing industry.
c. It has a small market share in a slow growth industry.
d. It has a large market share in a slow growth industry.
e. It is generally a dead business that should be divested.
Answers
Answer:
d
Explanation:
Cash cow relates to a company investment in a low growth market with a high market share.....
Lisa and Elizabeth are both calculating asset values to determine if any previously impaired assets are further impaired. Instead of additional asset impairment, they found that they each had an asset that had increased in value. Lisa recorded this increase in value, but Elizabeth did not. Why?
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Answer:
The correct answer is Lisa's asset is being held for disposal, and Elizabeth's asset is currently in use.
Explanation:
The assets should be recognized in the balance sheet when it is probable that they will obtain benefits or economic returns for the company in the future, and provided that they can be valued reliably. The accounting recognition of an asset also implies the simultaneous recognition of a liability, the decrease of another asset or the recognition of an income or other increases in equity. depending on the accounting context.
An asset is recognized in the balance sheet when it is probable that future economic benefits will be obtained for the company, and in addition the asset has a cost or value that can be measured reliably ”,“ an asset is not recognized in the balance sheet when it is considered unlikely that, from the corresponding disbursement, economic benefits will be obtained in the future. Instead, such a transaction leads to the recognition of an expense in the income statement
If an organization considers its IS organization as a game changer, then its strategy would be to use IS to achieve competitive advantage.
A. True.
B. False.
Answers
Answer:
The answer is false, letter B
Explanation:
Because to be a true statement the strategie would be to achieve competitive advantage by making IS investments that enable new prodcuts and services.
Final answer:
The statement is true; organizations may see their IS as a game changer and use it strategically to gain competitive advantage through efficiencies, innovation, and enhanced customer value.
Explanation:
The statement suggests that if an organization sees its Information Systems (IS) organization as a game changer, it would strategize to use IS to achieve a competitive advantage. This is indeed true. Organizations that view their IS as a critical component for success often leverage it to realize efficiencies, innovate processes, and provide superior value to customers, thereby gaining an edge over competitors. For example, implementing advanced data analytics can lead to better decision-making, or using customer relationship management (CRM) systems can enhance customer satisfaction and loyalty.
The advertising campaign for Crest toothpaste lets consumers know about its newest flavor, and also mentions its history as an established brand. The ad also mentions Crest’s advantages and benefits. Crest’s advertising would be classified as
Answers
Answer: Product Advertisements
Explanation: Product Advertisement is the advertisement of a product using its brand name, features and all its benefits when advertising such products.
Product advertisement focuses on the particular product being advertised. The products features, benefit and brand name are all featured in the advert.
This is to create an awareness for the product being advertised.
A recent survey revealed that more than nine out of ten people prefer a watch made by firms in Switzerland to one made in India or U.S.A or any other country. This is an example of _____.a. benchmarking.b. the country-of-origin effect.c. the liability of foreignness.d. agglomeration
Answers
Answer:
The correct answer is (B)
Explanation:
In this case country of origin effect has made people to prefer a watch made in Switzerland. Country of origin effect, , is a mental impact depicting how people frames of mind, recognition and obtaining choices affected by different country products. For example, customers prefer Italian pizza over others, that is a country of origin effect
The distinction between _____ is what defines an MNE from a firm that merely exports or imports.a. small- and large-scale of entryb. licensing and franchisingc. direct and indirect exportsd. equity and non-equity modes of entry
Answers
Answer: Option a
Explanation: MNE refers to multinational enterprises, these organization are the one which operates their their business in several countries. Due to their world wide reach to the markets their scale of operations remains very high with a large number of shareholders.
These organisation usually have more than one form of business, they diversify their activities as a protection from different political or environmental factors in the countries in which they operate.
Hence the correct option is A.
Final answer:
The key difference between a Multinational Enterprise (MNE) and a firm that just imports or exports lies in the equity and non-equity modes of entry, with MNEs typically engaging in direct investments to enter foreign markets.
Explanation:
The distinction between equity and non-equity modes of entry is what defines a Multinational Enterprise (MNE) from a firm that merely exports or imports. When we talk about equity modes, we're referring to direct investments into foreign operations, such as joint ventures or wholly-owned subsidiaries. Non-equity modes include licensing, franchising, and management contracts, which do not require direct investment but still allow firms to have a presence in foreign markets.
Barriers to entry are critical in determining the number of firms in an industry and impact how these firms conduct businesses internationally. Economies of scale, government-enforced barriers, and natural monopolies can influence the market dynamic, leading to a differentiation between larger, influential firms and smaller players.
For instance, high capital requirements or technological complexities can make markets less competitive and tend towards monopoly, where the dominant firm might exhibit market power. In competitive markets, the entry and exit process is determined by both intentional and natural barriers, which can also influence a firm's decision to engage in foreign markets.
As governor, Marcy has decided that anyone who works but earns less than $20,000 a year will have their health insurance premiums paid for by the government.
How does this affect the equilibrium price and quantity of medical services?
a. Diminishing returnsb. Moral Hazardc. Market Failured. Adverse Selectione. Principle-agent problem
Answers
Answer:
They have risen.
Explanation:
Demand has increased, but supply has remained constant.
Which of the following are the four categories of resources?
a. human effort, human capital, money, and gold
b. labor, physical capital, money and the banking system
c. labor, entrepreneurial ability, capital, and money
d. labor, entrepreneurial ability, capital, and natural resources
Answers
Answer and Explanation:
d. labor, entrepreneurial ability, capital, and natural resources
Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1st. Givens Brick Company signs a $600,000, 8%, 9-month note. What entry should be made by Givens Brick Company on January 1st to record the proceeds and issuance of the note?
Answers
Answer:
The journal entry for the issuance and the proceeds of the note is shown below:
Explanation:
Cash A/c.........................Dr $600,000
Notes Payable A/c......Cr $600,000
The givens company received a amount of $600,000 from the bank, so cash is increasing and increase in cash is debited. Therefore, the cash account is debited. Whereas, the cash against a note payable, which increases the liability and any increase in liability is credited. Therefore, notes payable is credited.
Two reasons why an economy might operate inside of its production possibilities frontier are
a. productive efficiency and technological change
b. depressions and inflation
c. recessions and productive inefficiency
d. opportunity costs and substitutability of resources used in production
Answers
Answer:
The correct answer is option c.
Explanation:
A production possibility frontier shows the maximum possible combinations of two goods that an economy can produce using all the available resources. The points below the production possibility frontier show inefficient bundles. The points on the curve show the efficient utilization of resources. The points above the curve show unattainable bundles.
An economy may operate below its production possibility curve because of recessions and inefficiency in production. During recessions or because of productive inefficiency all the available resources are not efficiently utilized.
Blossom Company issues 6500 shares of $10 par value common stock at $12 per share. When the transaction is recorded, credits are made to:Common Stock $65000 and Paid-in Capital in Excess of Stated Value $13000.Common Stock $78000.Common Stock $65000 and Paid-in Capital in Excess of Par Value $13000.Common Stock $65000 and Retained Earnings $13000.
Answers
Answer:
Common Stock $65000 and Paid-in Capital in Excess of Par Value $13000
Explanation:
When a company issues stock they have to record the transaction at the stock's par value or book value. In this case the par value was $10 per stock, so the total Common Stock account should increase by $65,000.
Any amount of money paid in excess of par value must be recorded in another account, the Paid-in Capital in Excess of Par Value account. The extra $13,000 should be recorded in this account.
If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system and banks have a desired reserve/deposit ratio of 0.20, then the banks will eventually make new loans totaling ______ and the money supply will increase by _______.
Answers
Answer:
$4,000$5,000Explanation:
First we have to determine the money multiplier of Macroland:
money multiplier = 1 / 0.2 = 5If $1,000 are deposited in banks and the banks have a 20% reserve ration, they will be able to lend $800. The $800 will then increase to $4,000 (= $800 x 5) because of the money multiplier.
The total increase in the money supply is given by the $1,000 deposited originally and the $4,000 in increased loans = $5,000
Final answer:
If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system and banks have a desired reserve/deposit ratio of 0.20, then the banks will eventually make new loans totaling 4,000 dollars and the money supply will increase by 5,000 dollars.
Explanation:
When the Central Bank of Macroland injects an additional 1,000 dollars into the economy with a reserve/deposit ratio of 0.20, banks can eventually make new loans totaling 4,000 dollars, increasing the money supply by a total of 5,000 dollars.
The key to understanding this question is the concept of the money multiplier effect in the banking system. When banks receive deposits, they keep a portion as reserves to satisfy withdrawal demands and lend out the remainder. The reserve ratio dictates how much must be kept in reserve compared to the total deposits. In this case, a 20% reserve deposit ratio (0.20) is mentioned.
This ratio implies that for every dollar deposited, 20 cents must be kept as a reserve, and the remaining 80 cents can be lent out.
The money multiplier formula in this context is 1/reserve requirement ratio, which in this scenario is 1/0.20 = 5. This means that for every dollar of reserves, the banking system can expand the money supply by up to 5 dollars.
Given the Central Bank injects 1,000 dollars and considering the money multiplier of 5, the total increase in the money supply can reach 5,000 dollars (1,000 dollars × money multiplier of 5). Subtracting the original 1,000 dollars injected, the banks will have made new loans totaling 4,000 dollars.
Keon, vice-president of human resources for a large manufacturing firm, wants to keep the reward system membership-based instead of moving to performance-based pay. Traditionally, most increases have been based on seniority. Why does he want to keep the membership-based system?
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Answer:
The correct answer is The criteria area easier to measure with the membership-based system.
Explanation:
Obviously by changing, for example, the money for memberships, companies save in some way the expense that would be to measure the performance of employees one by one. If the organization is measured globally, or perhaps by areas, there will be an overview of the fulfillment or not of the proposed objectives.
A membership system allows employees to be recognized in the same way, without individualism prevailing, leading to better rapport and teamwork.
Western Company recently lost its entire inventory in an earthquake. The following information is available from its accounting records: Beginning inventory: $5,000; purchases: $18,000; net sales: $40,000. The company's average gross profit percentage is 40%. Using the gross profit method, a reasonable estimate of cost of goods sold for this past period would be:______
Answers
Answer:
$24,000
Explanation:
Cost of goods sold = Net sales - gross profit.
As net sales = $40,000
Average gross profit = 40%
Thus, gross profit in dollars = $40,000 [tex]\times[/tex] 40% = $16,000
Thus, cost of goods sold = $40,000 - $16,000 = $24,000
Sales represent the total revenue earned and cost represent the entire value of manufacturing it.
It is $24,000.
This name is given to the system of land ownership during the early years of the industrial revolution in which british landowners divided their fields into smaller units and charged rent to farmers or business owners.
Answers
Answer:
The system of land ownership during the early years of the industrial revolution where british landowners divided their fields into smaller units is known as Enclosure
Explanation:
Enclosure occured in England during the early years of the industrial revolution and played a part in migration of people from rural areas to cities that were becoming industrialized.
In the Enclosure system, common lands were merged, and the masses who previously had access to such lands, for activities such as grazing and farming, became restricted. Only the land owners could access such enclosed lands.
Land owners could then divide their lands into smaller portions and charge rent for it.
In the context of the most common sales presentation types, which of the following statements is true about the standard memorized presentation?
a. Its effectiveness is limited because it offers no opportunity for the salesperson to tailor the presentation to the needs of a specific customer
b. It fails to help bring new salespeople up to speed quickly or to give them confidence. Its applicability is an advantage because it lets a salesperson demonstrate empathy, which is an important step in developing a partnering relationship
c. It is more informal and natural than the customized presentation. It provides more opportunity for a customer to participate in the sales interaction than does an outlined presentation
Answers
Answer:
A) Its effectiveness is limited because it offers no opportunity for the salesperson to tailor the presentation to the needs of a specific customer
Explanation:
An standard memorized presentation is a sales presentation that is repeated over and over again to different clients. Actually it should include the best highlights and key selling points, but none the less, it is basically the same presentation every time. Depending on what you are selling and if you are a new salesperson, this might be effective, for example for selling pharmaceutical products, since you are always selling to the same audience, doctors.
But I sincerely doubt that this technique is effective most of the time or at last for most products. People have a tendency to be curious, so generally your clients will ask you things about your products and also your clients are not always the same. Imagine if you are trying to sell clothes, cars or furniture, etc., your sales pitch should not be same for all your clients.
New oak tables are normal goods. What would happen to the equilibrium price and quantity in the market for oak tables if the price of maple tables rises, the price of oak wood rises, more buyers enter the market for oak tables and the price of wood saws increased?
Answers
Answer:
The equilibrium price will increase and change in equilibrium quantity will be unambiguous.
Explanation:
If the price of maple tables rise, the consumers will prefer the cheaper substitute. So the demand for oak tables will increase. At the same time, the entry of new buyers in the market for Oaktables will also increase the demand.
This increase in demand for oak tables will cause the demand curve to move to the right.
An increase in the price of oak woods and wood saws will increase the input cost for oak table producers. So their cost of production will increase. This will cause the supply of oak tables to decrease.
This decrease in supply will cause the supply curve to shift to the left.
This leftward shift in the supply curve and a rightward shift in the demand curve will cause the equilibrium price to increase.
The change in the equilibrium quantity will depend upon the proportionate change in demand and supply. If both changes by the same proportion the equilibrium quantity will remain the same.
If demand increases more than the decrease in supply, the quantity will increase. IF supply decreases more than the increase in demand, the equilibrium quantity will decrease.
Wisconsin Cheddar has introduced a new product called "aged jalapeno cheddar". Displays are set up at various retail cheese stores throughout California and potential buyers are offered free samples when they walk past the displays, as well as $2 off coupons. what type of promotion is this an example of????
Answers
Answer:
Sales promotions
Explanation:
Sales promotions are the planned activities that a business takes to stimulate demand and increase sales. In sales promotions, the company applies attractive short-term methods to persuade customers to buy products. Sales promotions mostly target consumers. Businesses may also initiate sales promotion aiming at encouraging traders to sell more.
Techniques used in sales promotion include discount vouchers, money-off-coupons, free samples, and competitions. Wisconsin Cheddar is conducting a sales promotion. The displays, free samples, and discount coupons are meant to encourage customers to buy. Sales promotions are useful in introducing new products in the markets. They help push-up sales volumes, although it could be temporarily.
According to John Maynard Keynes:
a. the economy would automatically adjust to full employment in the long run.
b. aggregate expenditures (demand) can be forever inadequate to achieve full employment.
c. neither aggregate demand nor aggregate supply is a determinant of full-employment real GDP.
d. aggregate output (supply) can be forever inadequate to achieve full employment.
Answers
Answer:
b. aggregate expenditures (demand) can be forever inadequate to achieve full employment.
Explanation:
According to John Maynard Keynes aggregate expenditures (demand) can be forever inadequate to achieve full employment.
Transporting and storing goods, breaking bulk, providing credit, local advertising, sales representation, and negotiations with middlemen most directly relate to which of the six Cs of the channel distribution strategy?
Answers
Answer:
The C which is relevant for this strategy from the 6 Cs is the Cost.
Explanation:
The channel distribution is the path which a product or service takes in order to reach the consumer. It allows the direct channel so that consumers buy directly from the manufacturer.
The channel distribution strategy is the Cost which is stated as the cost of the product. So, the storing goods, providing credit, sales representation and transporting related to the Cost.
The correct answer is: c) coverage. Transporting and storing goods, breaking bulk, providing credit, local advertising, sales representation, and negotiations with middlemen most directly relate to coverage.
Coverage refers to the breadth and intensity of distribution achieved through a channel. It focuses on how well the product or service reaches the target market.
The activities listed all directly impact how widely and effectively a product reaches its target audience:
Transporting and storing goods: Ensures physical availability in different locations.
Breaking bulk: Allows for smaller quantities to reach various retailers.
Providing credit: Enables wider customer reach by offering financing options.
Local advertising: Directly targets customers in specific regions.
Sales representation: Represents the product to potential buyers.
Negotiations with middlemen: Secures partnerships with distributors to expand reach.
While other Cs of the channel strategy are also relevant:
Cost: Refers to the economic efficiency of the channel.
Control: The level of influence a company has over the channel members.
Character: The image the channel portrays of the product or service.
Continuity: Maintaining consistent availability and service throughout the channel.
Coverage most directly encompasses the activities listed because it focuses on ensuring the product reaches the target market through various means.
The complete question is- Transporting and storing goods, breaking bulk, providing credit, local advertising, sales representation, and negotiations with middlemen most directly relate to which of the six Cs of the channel distribution strategy?
a) cost
b) control
c) coverage
d) character
e) continuity
To make low-profit customers more profitable the ABC bike shop-
A) sends birthday greetings to its best customers and gives them discounts on merchandise.
B) has a club for its regular customers, organizing cycling events and parties for them.
C) allows existing customers to upgrade to a newer model by trading in their older model.
D) though it previously offered free delivery, now charges for deliveries made outside the city.
E) encourages customers to send in their suggestions for product improvement.
Answers
Answer:
C) allows existing customers to upgrade to a newer model by trading in their older model.
D) though it previously offered free delivery, now charges for deliveries made outside the city.
Explanation:
If ABC company wants to change low profit customers into more profitable customers, they need to:
encourage low profit clients to buy larger quantities by offering promotions (e.g. get a discount if you buy a bike, helmet and other gear all together)forgo certain services or features to low profit customers, e.g. free delivery only for expensive bikesincrease the price of your product for low profit customers (e.g. charge a delivery cost for cheap bikes)offer upgrading options to low profit clients
In order for information to be meaningful, a firm's accounting processes and procedures should be certified as accurate by acceptable accounting standards. Companies hire ________ to provide unbiased opinions about the accuracy of a firm's financial statements.a) bookkeepersb) private accountantsc) tax accountantsd) independent auditors
Answers
Answer: Independent Auditors
Explanation: Independent Auditors are professionals in the field of accounting such as chattered accountants that are employed to check the business and financial records of an organization to which they don't work in. Auditors are used to ensure accuracy in records and also to ensure no financial mismanagement or fraud.