Answer:
A.) $848.18
3.69%
Explanation:
Invoice amount = $856.75
Payment term of 1/20, net 30 implies that if payment is made within 20 days then the customer will get a 1% discount, with the maximum payment term being 30 days.
Therefore, True price equals :
Invoice amount × (1 - 1%)
$856.75 × (1 - 0.01)
$856.75 × 0.99
= $848.1825
NOMINAL COST OF TRADE CREDIT:
(discount/(1-discount))×(365)(total payperiod - discount period)
Nominal cost of trade credit extended by the supplier:
(0.01/(0.99)) × (365)/(30-10)
0.010101 × 18.25 = 0.1843
= 18.43%
Nominal cost of trade credit if Tasty Tuna chooses to pay later:
(0.01/(0.99)) × (365)/(35-10)
0.010101 × 18.25 = 0.1474
= 14.74%
(18.43 - 14.74)% = 3.69%
Jay, a divisional vice president of a consumer goods manufacturer, gives a presentation to all divisional employees to outline the company’s goals for the coming year. This is an example of what type of organizational communication?
a. Virtual communicationb. Grapevine communicationc. Lateral communicationd. Downward communicatione. Upward communication
Answer:
d. Downward communication
Explanation:
The downward communication is the process of communicating the information from top to bottom i.e superior to subordinates or vice president to divisional employees . The information can be in terms of explaining the duties and responsibilities, any changes in the process, etc
So according to the given situation, the Jay who is a divisional vice president of a consumer goods manufacturer gives a presentation to all the employees of divisions that reflect the downward communication
Which of the following is not an example of a natural experiment an economist might use to evaluate a theory? a. Transit ridership increased in Atlanta following an increase in gas prices. b. Federal tax revenue increased following a decrease in the tax rate. c. Students in a principles of microeconomics course are asked to play a game with classmates to determine what decisions they make under certain circumstances. d. Following the imposition of austerity measures, the growth rate of the economy in Greece slowed.
Answer:
Example of not a natural experiment an economist might use to evaluate a theory is:
C. Here the Students in a microeconomics principles course are advised to play a game with their classmates to determine and evaluate what all decisions they make under certain adjusted circumstances.
Explanation:
Natural experiment : A natural experiment is referred to an observational and also an empirical study in which we get to study about the experimental and controllable varieties of variables. which can not het manipulated anywhere by the researchers.
Instead these experiments are allowed to affect the environment and the nature or the different factors which are not under control of our researchers. In contrast to the experimental values and all the natural experiments are even not controlled by the researchers but instead they also admire and obseve those experiments for their own studies.
So, the right option is:
C. Here the Students in a microeconomics principles course are advised to play a game with their classmates to determine and evaluate what all decisions they make under certain adjusted circumstances.
Option c is not an example of a natural experiment an economist might use to evaluate a theory.
Explanation:The answer is c.
An example of a natural experiment in economics should involve changes in exogenous variables that are not directly manipulated by the researcher. In option c, where students in principles of Microeconomics course are asked to play a game with classmates, the researcher is directly manipulating the circumstances of the experiment. This makes it an example of a controlled experiment rather than a natural experiment.
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During a telephone conference call, Rafaela asks her assistant to complete a report as soon as possible that day. The assistant, however, didn’t understand the urgency of Rafaela’s request, so when Rafaela showed up after lunch to collect the report, it wasn’t done. In this scenario, the assistant failed to understand what aspect of Rafaela’s message?
Answer:
Implicit
Explanation:
An implicit message refers to such form of communication wherein the required course of action is implied and not expressly or explicitly conveyed. Such messages include a hidden but obvious idea or fact.
Such messages do not clearly convey what is exactly intended but rely on assumption of the receiver's right comprehension.
In the given case, Rafaela asked her assistant to complete a report as soon as possible. The assistant on the other hand took such directions as of routine course and acted casually w.r.t performing the task.
This represents an implied message of the urgency of the task since Rafaela used "as soon as possible.". What it could not state expressly being, the extent or magnitude of urgency. The message wasn't clear with respect to the time period within which the work was to be performed.
Thus, the implicit aspect of Rafaela's message wasn't understood by her assistant.
Cup N Cone Inc., a graphic design firm, has offices in New York, Texas, California, New Mexico, and New Jersey. Each of these offices is headed by a president who reports directly to Marvin Grey, the CEO. The heads of the centralized HR, Finance, and Marketing teams report to Marvin Grey as well. Managers in the various offices also report to the CEO directly. Based on this information, which of the following statements is most likely to be true?
A) Cup N Cone Inc. is a mechanistic organization.B) Cup N Cone Inc. has a tall hierarchical structure.C) Marvin Grey is underworked.D) Marvin Grey has a wide span of control.
Answer:
Wide span of control
Explanation:
Span of control is determined by the number of employees or subordinates that a manager supervises. In a wide span control , the manager supervises many employees while in a narrow span , the manger supervises a few.
Looking at the number of employees that report to Marvin Grey , from the Presidents of the branches , to the central head of Finance and the marketing teams and other managers , we can point out that Marvin Grey has a wide span of control
Answer:
D) Marvin Grey has a wide span of control.
Explanation:
A CEO has wide span of control if his employees as well as his subordinate managers are being supervised by him and they also report directly to him. In wide span of control, they are few levels of management and it is not expensive to implement.
A mechanistic organization is an organization with a centralized authority and have formalized procedures and practices. Employees are assigned with separate tasks.
A tall hierarchical structure is an organization broken down to different portions each having a manager responsible for controlling the operations in that portion
Suppose that each of two prisoners, Mel and Max, has the independent choice of confessing to a crime or not confessing. If neither confesses, they spend 2 years in jail: if both confess, they spend 3 years in jail. If one confesses while the other does not, the confessor gets off with 1 year in jail while the other gets 6 years in jail. According to game theory, the likely strategy by the prisoners is that:
A. both will confess
B. neither will confess
C. Mel will confess and Max will not
D. both may or may not confess
E. Max will confess and Mel will not
Answer:
Here according to the game theory the likely strategy by the prisoner is that:
A. Both will confess
Explanation:
Here, in the given question it is mentioned that Mel and Max are two prisoners both have been given an independent choice of confession whether to confess or not for a crime they have done.
So, there are different cases which will lead to different actions by the court i.e.
If neither of them will confess they will have to spend 2 years in jail.If both will give their confession they will be spending 3 years in jail.If one of them confesses and the other does not do the one who will confess will get out of the jail within 1 year and the other one will get a 6 years of jail period.So, according to the Game theory, the strategy that is going to be likely followed is that :
A. Both the prisoners will confess.
With the increased usage of cell phone services, what should we expect to have happened to the price elasticity of demand for land-line telephone services? Group of answer choices It has become more income elastic It has become more price inelastic. The absolute value of the price elasticity coefficient has probably gone down. It has become more price elastic.
Answer:
It has become more price inelastic
Explanation:
Elasticity of demand for any good can be defined as degree of responsiveness of any good with respect to change in demand factors like price or income. Hence it signifies consumer sentiments as how will the goods demand change when there is change in price.
Highly elastic goods mean that with slight change in price there is large change in demand of good.
Highly inelastic goods mean any change in demand factor like income, price will not affect the demand of the goods.
Now going for landlines telephone. With the widespread use of mobiles phones, usage of landline phones has decreased significantly. Hence any change in price for landlines is not going to affect it demand as very few people are using it.
Using the above mentioned rational we can say that It has become more price inelastic is the most suitable answer.
Voters in Lincoln School District approved the construction of a new high school and approved an $8 million bond issue with a stated rate of interest of 6% to fund the construction. Bids were received and the low bid was $8 million. When the bonds were issued, they sold for face value less bond underwriting fees of $.5 million. The School Board voted to fund the balance of the construction by a transfer from the general fund.
The entry in the capital projects fund to record the receipt of the bond proceeds would be:__________
a) Debit Cash $7.5 million; Credit Bonds payable $7.5.
b) Debit Cash $7.5 million; Credit Other financing sources $7.5.
c) Debit Cash $7.5 million and Expenditures $.5 million; Credit Bonds payable $8 million.
d) Debit Cash $7.5 million and Expenditures $.5 million; Credit Other financing sources $8.
Answer:
d) Debit Cash $7.5 million and Expenditures $.5 million; Credit Other financing sources $8.
Explanation:
The Cash proceed from the bond is recorded as the net of face value of the bond and the underwriting fees.
The underwriting fees is the expenditure for the Lincoln School District ad it is debited to record the expense.,
As the bond issued is a liability for Lincoln School District and payable at the date of maturity. the interest is also paid on this amount on stated rate of 6%. The Bond Payable account is credited to record the liability.
Which one of the following terms is defined as a loan wherein the regular payments, including both interest and principal amounts, are insufficient to retire the entire loan amount, which then must be repaid in one lump sum?
A. Amortized loan.
B. Continuing loan.
C. Balloon loan.
D. Pure discount loan.
E. Interest-only loan.
Answer:
C. Balloon loan
Explanation:
Balloon loans are loans that can not fully amortize over its term. They are loans that are paid of with a large single final payments. A lump sum amount. It involves the borrower paying back a lower monthly percentage in exchange for paying a large one time payments at the end of the loan term. Either fixed or flexible interest rate structure can be used on it. Ballon loans are usually reserved for conditions when a business has to wait until a specific period before receiving payment from a client for its product or services.
Answer: (C) Ballon
Explanation:
This type of loan does not fully amortised at the end of its term. Since it is not fully amortized, hence a balloon payment is necessary at the end of the loan term to pay off the remaining initial principal balance of the loan. Balloon loans are usually attractive in short-term loans because they typically carry lower interest rates than loans with longer terms. However, the borrower must be aware of refinancing risks as there's a risk the loan might be reset at a higher interest rate which is not favorable to the borrower.
Aldi is a chain of discount supermarkets based in Germany. The company has recently started opening stores across the United States. Based on this information, the product development strategy being pursued by Aldi is known as a _______ strategy.
Answer:
Market development
Explanation:
Aldi has recently started to open its supermarket chains in the US based on its market development. Market development is a technique to identify a new market or a new growth strategy. It is a way to target new market segments and new customers. Many firms and organizations use market development technique to expand their businesses locally and internationally.
Aldi is using a market development strategy to expand its chain of discount supermarkets from Germany into the United States, which involves offering its existing products to a new market.
Explanation:Aldi, the German chain of discount supermarkets, uses a specific product development strategy when expanding into new markets like the United States. The strategy Aldi is pursuing is known as a market development strategy. This type of strategy involves taking existing products into new markets or geographical areas. As Aldi opens stores across the U.S., it offers similar products that have been successful in its home market of Germany to a new customer base, adapting to local tastes and preferences as necessary.
Franchising is another common strategy used by businesses, particularly in the fast food industry, but it differs from a market development strategy. While franchises can also spread across different countries, the franchisee is usually responsible for managing the individual locations. In the case of Aldi, the brand itself manages the expansion and operations of its new international stores.
Jane Doe is a shop owner in the fictional country of Xanadu. Every month the government’s planning ministry sends her a large booklet (which resembles a phone book) regulating the price of essential commodities including milk, flour, and eggs. In response to these regulations Jane Doe has reduced her inventory of essential goods and switched to selling luxuries such as cakes, pies, and soft drinks. Luxury goods are not price controlled. Does Jane Doe reside in a command economy? Why or why not?
Answer:
No, Private Ownership
Explanation:
Jane Doe cannot be said to reside in a command economy because a command economy is mainly characterized by state ownership and the determination of prices and choices of goods and services to be produced; by the government
In the scenario, Jane Doe owns her own shop owner in the country of Xanadu, and private ownership is not found in command economies.
However because the government’s planning ministry sends her a large booklet (which resembles a phone book) regulating the prices of essential commodities, it implies that there is a degree of government intervention.
Such private ownership plus government intervention characterizes a mixed economy.
Answer:
Xanadu is not a command economy, it can be classified as a mixed market economy.
Explanation:
Since Jane is allowed to run her own business, Xanadu cannot be considered a command economy (e.g. communism). Since the government does regulate several products (enough to resemble a phone book and they were large), it is not a market economy (capitalism) either. It is mixture of both (mixed market economy), since private ownership is allowed, but the government does intervene in some aspects of the economy.
Sara works for a large corporation and spends a great deal of her workday at her computer. Occasionally, she'll perform a series of actions and receive a confusing error message on the screen which will impede her work and not allow her to proceed. At this point, Sara should:
Answer:
get a new computer or im wrong and she should ask someone about itWhen sara receives a confusing error message on the screen which impede her work and not allow her to proceed. At this point, Sara can follow any of the provided options,
a) Complain
b) Read the Error Message
c) Note Actions Taken
d) Search for Solutions
e) Consult Documentation/Support
f) Ask for Help
g) Report the Issue for technical support
When sara receives a confusing error message on the screen which impede her work and not allow her to proceed. At this point, Sara can follow any of the given steps in order to solve the query,
a) Complain to the authorities: complain n report the problem to the designer who did not provide a more convenient mechanism for completing her task.
b) Read the Error Message: Carefully analyze the error message displayed on the screen. Understanding the error message can provide valuable clues about what might be causing the problem.
c) Note Actions Taken: Sara should make a written note of the actions she performed leading up to the error. This can be useful for troubleshooting later on.
d) Search for Solutions: Sara can search for the exact error message or a brief description of the issue on the internet. Often, others might have encountered the same problem and found solutions or workarounds.
e) Consult Documentation/Support: Many applications have online documentation or support resources. Sara should consult these resources to find potential solutions or contact customer support if available.
f) Ask for Help: If the error persists and Sara cannot resolve it on her own, she should consider seeking help from a colleague or an IT professional. Sometimes, a fresh perspective can be valuable in troubleshooting.
g) Report the Issue: Sara should report the error to the relevant technical support or IT department. Providing them with the error, steps that lead to the problem, and any other relevant information can help them diagnose and fix the issue.
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IHolly took a prospective client to dinner, and after agreeing to a business deal, they went to the theater. Holly paid $440 for the meal and separately paid $190 for the theater tickets, amounts that were reasonable under the circumstances. What amount of these expenditures can Holly deduct as a business expense?
Answer: The cost of entertainment is deductible if it directly PRECEDES or FOLLOWS a substantial business discussion, thereby satisfying this rule, ($440 + $190) × 50% = $315.
Therefore, Holly can deduct $315 as a business expense.
Answer:
Holy can deductible expense is $220
Explanation:
From a tax-rules' point of view cost of entertainment incurred after 31st December 2017 are no longer deductible,however 50% of cost of business meals is allowable if satisfies the following conditions:
The cost of business meal is invoiced separately from entertainment cost,which is case here as the cost of meal of $440 was separated from cost of theater tickets of $190.
The business meal is necessary and necessary incurred in the year.
A representative of the company or an employee is present at the furnishing of the meal.
The cost of business meal is not extravagant ,in other words reasonable as it is the case here.
The meal was served to a current or prospective client
Holy can deduct 50% of the business meal i.e 50%*$440=$220
In the context of team compensation and recognition,__________remunerate employees for acquiring expertise that they will need to perform multiple jobs within a team and for sharing knowledge with others within their work groups.
Answer:
Skill based pay programs
Explanation:
Skill based pay program is a system that rewards employees who brings in formal certifications of skills, knowledge and/or competencies in exchange for additional pay. In skill based pay programs, payments are on the basis of how many skills does the employee have or how many jobs can they do or handle. Employees in organizations using this method gets pay based on getting skills and continually honing job related skills. It increases are linked to the number or depth of skills an employee achieves and applies and it as a means of developing broader and deeper skills among the workforce.
Answer:
skill-based pay programs
Explanation:
Skill-based pay (SBP) it is a compensation system that recompenses member of the work force with additional pay in exchange for formal certification of the employee's mastery of skills, knowledge, and/or competencies. Such idea keep each worker on his or her toes to know more and do more because there will be more reward.
The core competency of MotorCraft Inc. is its fuel-efficient engine found in its cars. These engines are developed and built in-house. The company realizes that there is a new market opportunity to diversify. Thus, it produces the car engines on a large scale and sells them to other automobile companies. In this scenario, MotorCraft is:
A. leveraging existing core competencies to target the chasm between the early adopter and early majority market segment.B. redeploying and recombining existing core competencies to compete in future markets.C. building new core competencies to create and compete in future markets.D. building new core competencies to protect and extend current market position.
Answer: B. redeploying and recombining existing core competencies to compete in future
Explanation: Motor craft inc core competence is in fuel efficient engine but realizing that there is a new market opportunity to diversify, it then "redeployed and recombined existing core competencies to compete in future". By producing car engines in large scale and selling it to other automobile companies.
If you believe the economy is about to go into a recession and your portfolio consists of growth stocks, defensive stocks and long-term bonds, you might change your asset allocation by selling ______ and buying ______.
Answer:
Growth stocks; Long-term bonds
Explanation:
If you believe the economy is about to go into a recession and your portfolio consists of growth stocks, defensive stocks and long-term bonds, you might change your asset allocation by selling Growth stocks and buying Long term bonds.
As in the given case, the economy seems to be in trouble and chances that it may go into recession, then there is a high-risk float in the money market which may reduce the growth of stocks and long term bonds have fixed income, therefore, while allocating assets during the recession, people should sell growth stocks and buy long term bonds.
A depositor places $10,000 in cash in a commercial bank, where the required reserve ratio is 10 percent. The bank sends the $10,000 to its Reserve. As a result, the actual reserves (R), required reserves (RR) , and excess reserves (ER) of the bank have been increased by ___________.
a. $10,000, $9,000, and $1,000, respectively.
b. $10,000, $500, and $4,500, respectively.
c. $10,000, $1,000, and $9,000, respectively.
d. $1,000, $10,000, and $9,000, respectively
Answer:
C) $10,000, $1,000, and $9,000, respectively.
actual reserves increase by $10,000required reserves increase by $1,000excess reserves increase by $9,000Explanation:
the money deposited by the client = $10,000
bank's reserve ratio is 10% = $10,000 x 10% = $1,000
since the bank kept the whole $10,000 as reserves, then:
actual reserves increase by $10,000required reserves increase by $1,000excess reserves increase by $9,000The bank is only required to keep $1,000 in reserves, this means it can borrow the remaining $9,000 whenever they want.
The reason fast food restaurants often are found in close proximity to each other is a. they enjoy competition b. location clustering near high traffic flows c. low cost d. availability of skilled labor e. all of the above
Answer:
b. location clustering near high traffic flows
Explanation:
Proximity to customers is a major consideration when deciding on a business location. A business situated in areas with many potential customers has a high probability of succeeding. Restaurants are usually strategically situated in places with heavy customer flow.
Restaurants may be established near offices, in market places, near public transport terminus, or other location convenient to customers. With time, customers tend to associate that particular building, area, or street with restaurants. As the area becomes synonymous with restaurants, more customers will visit it, leading to more restaurants to open in that locality.
Haley's employer has asked her to review tens of thousands of social media posts about their company's products and compile this data into a database. In terms of the characteristics of big data, Haley is dealing with ________
a. volume
b. veracity
c. velocity
d. variety
Answer:
the correct answer is d. variety
Explanation:
data variety refers to that the data are coming from various sources and require processing and further attention to make them useful and to convert them into purposeful information.
Christian and Monica are married and are both in good health with reasonably secure careers. Christian and Monica have annual incomes of $60,000 each. The family debts are a home mortgage of $120,000, car loans of $10,000, personal debts of $14,000, and credit card loans of $7,500. The estimated funeral cost is $6,000. Under the DINK Method, what is the amount of total insurance that Christian would need?
Answer:
$81,750
Explanation:
The computation of the amount of total insurance is shown below:
= (Home mortgage loan + car loans + personal debts + credit card loans) ÷ 2 + estimated funeral cost
= ($120,000 + $10,000 + $14,000 + $7,500) ÷ 2 + $6,000
= $75,750 + $6,000
= $81,750
Under the DINK method, we simply half of the items except funeral cost
Which kind of stock would you expect to pay the higher average return: stock in an industry that is very sensitive to economic conditions (such as an automaker) or stock in an industry that is relatively insensitive to economic conditions (such as a water company)
Answer:
Risk return you expect to pay high average return since it will give us better economic conditions.
Goods or services in standard-cycle markets reflect: a. numerous first-mover advantages. b. organizations that serve a mass market. c. an inability to sustain a competitive advantage except for brief periods of time. d. competitive advantages that are shielded from imitation.
Answer:
Option b.
Explanation:
In standard cycle, competitive actions are designed to serve large market shares, to gain customer loyalty and to control the firm's operations which in turn provide the same positive experience to customers.
Goods or services in standard-cycle markets reflect organizations that serve a mass market.
Standard-cycle markets refer to the markets where the firm's competitive advantages are shielded from imitation such that those advantages can be sustained longer but for a shorter period.
These advantages can be sustained for longer period in a slow-cycle market than in fast-cycle markets.
Competitive advantages are sustainable in slow-cycle as these are shielded from imitation for longer periods of time such that imitation is costly.
Option b. is correct
Final answer:
Standard-cycle markets challenge firms to maintain competitive advantages due to dynamic market conditions, technological advancements, and intellectual property laws. Barriers such as high startup costs and brand recognition can impede new entry, while economies of scope favor established firms by complicating the replicability of their operations. Option d
Explanation:
In standard-cycle markets, the characteristic trait is that firms face considerable challenge maintaining competitive advantage over extended periods due to the dynamic nature of such markets. These environments are not conducive to sustaining advantages because of factors like technological progression, which can rapidly change the cost and efficiency landscape, and the impact of intellectual property laws which can either protect or hinder competitive movement depending on patent and trademark control.
Product differentiation and economies of scale can provide a temporary edge, but these are often not substantial enough in the face of aggressive market conditions where firms try to create monopolistic competition through positioning. Additionally, high startup costs and brand recognition barriers limit the entry of new firms. Hence, while organizations may serve a mass market, the constant threat from new technology and competitors implies organizations cannot sustain a competitive advantage for long.
Furthermore, economies of scope complicate the ability for new entrants to copy the breadth of successful established operations whose profitability may come from producing multiple products using shared resources. Differentiation and scope create an environment where firms must continually adapt and innovate to survive.
Uptown Church received a donation of marketable equity securities from a church member. In reviewing the financial press, it is determined that the securities had appreciated during the year. At what amount should Uptown report its marketable equity securities in the year-end balance sheet?
Uptown Church should report its marketable equity securities on the year-end balance sheet at their fair value, which is the current market price if the securities have appreciated during the year.
Explanation:At what amount should Uptown report its marketable equity securities in the year-end balance sheet, given that these securities had appreciated during the year? Since marketable equity securities are financial assets with a clear market price and can be easily liquidated, they should be reported at their fair value on the balance sheet. The fair value is essentially the current, observed market price at the end of the reporting period. This method reflects the principle that assets and investments should be reported at the amount for which they could be exchanged in a current transaction between willing parties. Thus, if the securities have appreciated in value, the increase is recognized in the financial statements, enhancing the accuracy of the reported financial position of Uptown Church.
___ is any direct to a consumer or business recipient that is designed to generate a response in the form of an order, a request for further information, and/or a visit to a store or other place of business for the purchase of a specific good or service.
(1 point)
a.
Mass advertising
b.
Interactive marketing
c.
Sales promotion
d.
Direct marketing
e.
Personal selling
Answer: D.) Direct marketing (happy to help)
Explanation:
Suppose for a particular year a firm had comprehensive income of $9,000, a beginning book value of equity of $76,000, and an ending book value of equity of $77,000. Using the clean surplus accounting relation, how much were the firm's dividends that year?
Answer:
B. $8000
Explanation:
Given that
Income = $9000
Beginning book value = 76000
Ending book value = 77000
Dividends = Income + beginning book value of equity - ending book value of equity.
Therefore,
Dividends = 9000 + 76000 - 77000
= 85000 - 77000
= $8000
Thus, dividends for the following year given the following data is = $8000
Answer:
$8,000
Explanation:
From the example given, let us recall the following,
A firm had a comprehensive income of =$9,000
A beginning book value of equity =$76,000
The ending book value of equity = $ 77,000
Then
By using the clean surplus accounting relation, the firm's dividends for that year is:
(Comprehensive income + book value of equity) - Ending book value of equity
The final value becomes
= $9,000 + $76,000 - $77,000 = $8,000
George is buying his first house. He has spent a month looking at houses and comparing attributes such as price and location. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting ________.
Answer:
Complex buying behavior
Explanation:
Complex buying behaviour is the behavior which is defined as the behavior that happen when the customer is highly involved with the purchase and when there are differences among brands.
And this behaviour could be linked with the purchase of the personal computer or a new home.
So, in this case, George is purchasing his first house and for that he contracted various agents to look for different kinds of houses. Therefore, he is most likely exhibiting the complex buying behavior.
Final answer:
George exhibits thorough decision-making skills by comparing house attributes and consulting various real estate agents, reflecting careful economic decision-making tailored to his personal needs and values.
Explanation:
George is most likely exhibiting thorough decision-making skills in the process of buying his first house. By spending a month comparing price and location, and contacting several real estate agents to look at different types of houses, he indicates a strategic and well-informed approach to a significant financial decision.
This behavior is aligned with sound economic decision-making, where individuals use knowledge and reasoning to make decisions that best suit their personal needs and values. This scenario also highlights the importance of comparisons and the impact of potential biases in the decision-making process, such as an anchoring bias, which could affect judgment if George were to focus heavily on one attribute, like price, without recognizing the full scope of what's available. The right real estate agent would provide comparables to ensure George is aware of all his options within his budget, adhering to his personal housing preferences.
Titan Company is being sued for $200,000 and the attorney advises Titan that they will probably lose the lawsuit and is estimated Jones will pay the full amount of $200,000. Titan Company would need to record ________.
Answer: a credit to a liability
Explanation:
Credit to liability is recorded when a firm knows that it will loose in its case and it has to pay compensation for the law suit. The payment for the law suit is a liability to the firm.
Titan company's attorney has mentioned that the company would probably lose in the law suit and would have to pay an amount of $200,000. This amount will recorded as the credit to liability in the books of Titan Company.
__________ is the process of determining the amount of labor and machine resources required to accomplish the tasks of production on a more detailed level, taking into account all component parts and end items in the materials plan.
Answer:
Capacity Requirements planning
Explanation:
Capacity requirements planning refers to a planning technique used in determining quantity of product needed to be produced and if the available resources can meet up with the production. It helps to check if an organization can meet up with future demands for its merchandise. That is, it gives information on whether the organization has the capacity needed in producing production goals. It involves checking both human labour and machine labour putting into consideration component parts and end items in the materials plan.
The process described is known as the resource approach to production planning, focusing on labor and machine resource allocation based on inputs or factors of production. This approach is an integral part of efficient manufacturing, involving various economic actors throughout the production process.
Explanation:The process of determining the amount of labor and machine resources required to accomplish the tasks of production, taking into account all component parts and end items in the materials plan, is known as the resource approach to production planning. This approach involves analyzing the inputs—the resources such as labor, materials, and machinery that are used to produce goods and services—also referred to as factors of production. Unlike the cost approach, which starts with the intended output and seeks to minimize costs, the resource approach focuses on the resources needed to achieve production goals.
The resource approach requires a detailed understanding of the production process, including the design, management of the workforce, and operation of machinery. The goal is to ensure that production is carried out efficiently with the appropriate allocation of resources to meet the demands of the finished goods while maintaining quality standards. This process is critical for manufacturers, as it directly impacts the economic actors involved, including product designers, assembly-line workers, floor management, inventory managers, and a firm's sales division.
What must country commit to in order to become a part of the Organization of Economic Cooperation? How does one's language force a person to think about time? How does this difference in language relate to our propensity to save? What experiments did Chen carry out to come up with these conclusions? Did anything surprise you about this video? Why or why not?
1. What must country commit to in order to become a part of the Organization of Economic Cooperation?
- The affirmed common commitment of democracy, open markets, and free trade.
2. How does one’s language force a person to think about time?
- When you use different words in different tenses, it makes you think about the time these events took place, saying “I walked yesterday” is past tense but, “I’m walking” is present tense.
3. How does this difference in language relate to our propensity to save?
- Speaking futureless language, you will speak about time identically meaning you will feel as they are identical, it increases your propensity to save.
4. What experiments did Chen carry out to come up with these conclusions?
- Chen came up with knowledge of his own ideas to figure out the conclusion.
5. Did anything surprise you about this video? Why or why not?
- No. Everything made sense, everything had great conclusions talking about past, present, and future tenses.
Linguistic determinism suggests that structural differences in language, such as those between English and Mandarin in conceptualizing time, influence cognition and behavior, and could impact societal behaviors like saving and safety.
Explanation:The notion that language shapes thought, known as linguistic determinism or the Sapir-Whorf hypothesis, posits that the structural differences in language influence our cognition and behavior. Research by Boroditsky (2001) and others indicates that the ways in which different languages describe concepts like time can affect how speakers of those languages perceive and react to temporal relationships. For instance, English speakers often conceptualize time on a horizontal plane, while Mandarin speakers may also use a vertical dimension to discuss the past and future. This linguistic difference has potential consequences on behaviors such as intertemporal choices and could even influence societal tendencies like the propensity to save money or the occurrence of workplace accidents.
During March, a music store had net sales of $270,000. The gross profit was $121,500 and the operating expenses were $108,000. As a percent of net sales, what was the gross profit margin? What was the net income for March? What was the net profit margin?
Answer:
Gross profit margin = 45%
Net income = $13,500
Net profit margin = 5%
Explanation:
Net sales = $270,000.
Gross profit = $121,500
Operating expenses = $108,000
Gross profit margin = (Gross profit ÷ net sales) × 100
Gross profit margin = $(121,500 ÷ 270,000) × 100
Gross profit margin = 0.45 × 100 = 45%
Net income for March :
Gross profit - Total expenses
$121,500 - $108,000 = $13,500
Net profit margin :
(Net profit ÷ net sales) × 100
(13500 ÷ 270,000) × 100
Net profit margin = 5%
The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.
Answer:
e. Business analysis
Explanation:
Based on the description being made within the question it can be said that this process is similar to the Business analysis step. This step focuses on identifying the product needs and determining the best position and solution to different product/business related problems. Many factors such as sales, costs, and profits are taken into account during this step in order to make the best decisions possible.