Answer:
B.0.83
Explanation:
Data provided in the question
Total machines Available = 600
Number of machines used in a given year = 500
So by considering the above information, the utilization of spinning machines is
Utilization = Resource used ÷Resource available
= 500 ÷ 600
= 0.83
By dividing the resources used with the resources available we can get the utilization and the same is applied
What is the best theoretical justification for consolidated financial statements?
Answer:
The options are given below:
A. In form the companies are one entity; in substance they are separate
B. In form the companies are separate; in substance they are one entity.
C. In form and substance the companies are one entity
D. In form and substance the companies are separate
The correct option is B.
Explanation:
Consolidated financial statements refer to the financial statements of an entity that has multiple divisions or subsidiaries. Therefore, companies often use the word consolidated loosely when carrying out financial statement reporting in a manner which refers to the overall reporting of their whole business collectively.
The Financial Accounting Standards Board defines consolidated financial statement reporting as reporting of an entity which possesses the structure of a parent company and subsidiaries.
The reason therefore, why the consolidated financial statements is used, is to present, basically for the benefit of the owners, stakeholders, and shareholders of the parent, the results of the financial position of the parent company and all its subsidiaries as if the consolidated group were a single economic entity.
Hence, though the parent company and its subsidiaries operate separately, they are reported as one entity in the consolidated financial statements.
Creative locations, such as kiosks at the baggage claim in airports or small booths in grocery stores, represent Starbucks' effort to improve its offering on which dimension of the marketing mix? Group of answer choices product promotion price perception place
Answer:
The answer is Place. Option E.
Explanation:
In the marketing mix which constitutes; product, promotion, price, and place, the process of moving products from the point of production to the point(s) where the customers can access them is called place.
Put simply, it is the way in which a manufacturer's product is bought and where it is bought. This movement of products could be achieved through the use of one or a combination of the following intermediaries:
Distributors, Wholesalers, and Retailers.Therefore, the creative locations in the scenario above represent the marketing mix dimension of place, because it is the effort of Starbucks to make its product available to its customers at different locations.
Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a sporting event for children with disabilities. The letter writer is critical of a banner displayed at the event, with the logos of alcoholic beverages and Hisaoki's company name. Hisaoki never considered that this problem might arise. In the framework for ethical decision making, Hisaoki's company failed to A.identify issues.B. promote the firm's corporate social responsibilityefforts.C. analyze the needs of the industry.D. brainstorm and evaluate alternatives.E. choose a course of action.
Answer: A. Identify issues.
Explanation: Hisaoki's company failed to identify issues, because they never considered problem might arise but it did arises.
In identifying issues one must be clear what the problem is and plan on how to solve them, analyzing the problem is important when identifying issues. This help you to be about the situation when there is problem.
Kojin works for a social media website that caters to senior adults and allows them to engage with their families over the Internet for a small subscription. Currently, the company has focused on retirement communities, but Kojin thinks they would get more subscribers by focusing on seniors who live by themselves. He should prepare a presentation for senior staff that focuses primarily on influencing which member of the company? Multiple Choice the marketing director the human resources director the editorial director the design director the security director
Answer:
The Marketing Director
Explanation:
The marketing director of an organization is the one in charge of all the marketing strategies, policies, goals and initiative undertaken by the organization. He is the leader in the marketing department of the organization giving control, guidance and management to the department. He is in charge of devising strategies and giving the final say from his department on marketing strategies to be used with the aim of achieving marketing source of the company. In this case, given his responsibilities, Konji is the marketing director.
Cosima has been a buyer for Harvest Mist, a large cranberry processor, for several years. Believing that she knows a great deal about cranberries, their growers, and processors, she decides to go into business for herself. Cosima wants to assume no risks of spoilage or price fluctuations. She sees herself as simply bringing the growers and processors together. Her new company would be a _________.
A) sales agent.B) commission merchant.C) broker.D) sales branch.E) sales office.
Answer:
Broker
Explanation:
A broker can be defined as an individual or a firm that acts as an intermediary between two or more entities undergoing a business exchange, usually a buyer and a seller. They act as intermediary between buyers and sellers to facilitate securities transactions. They are compensated via commissions after the transaction has been successfully completed. In this case, Cosima wants to be asking as an intermediary between the growers and processors in order to facilitate their business exchanges.
When Brite Fabrics first began operations, it took six hours to make a coat in the workroom. Today, that task takes three hours as more efficient sewing and patterning techniques have been introduced. This improvement in efficiency is an example of:________.
A. a geographic implication.
B. an efficiency frontier.
C. location economies.
D. learning effects.
E. diminishing returns.
Answer:
B. an efficiency frontier.
Explanation:
This improvement in efficiency is an example of an efficiency frontier.
An efficiency frontier gives a detailed investment options that an organization can adopt with regard to differentiation and cost, consequently, offering the highest expected return for a lowest level risk.
Answer: D. Learning effect.
Explanation: It initially took Brite fabric six working hours to produced a coat in the workroom, but now making a coat takes three working hours. The reduction in the number of hours it takes to make a coat, is due to introduction of "efficient sewing and patterning techniques". Brite fabric learned an efficient sewing and patterning techniques.
Learning effect in economics is the process by which through education there is increase in productivity and better results.
One possible reason for unfavorable variable manufacutring overhead efficiency variance for materialshandling is ________. A. very low wait time at work centers B. experienced but unmotivated employees C. inefficient layout of product distribution channels D. loosely budgeted standard hours
Answer:
The correct answer is B. experienced but unmotivated employees.
Explanation:
Within the production process an unfavorable variation means a behavior contrary to the established pattern according to studies of time, behavior, etc. In the case of the statement, the characterization of variable costs associated with the production process can be considered as those costs that are additionally incurred to start the sale of the product. If there is an unfavorable variation, it is most likely that the employees are not performing their tasks in the time, manner and manner expected, due to demotivation situations.
Suppose a bank does NOT hold any excess reserves (it loans all available reserves) and the reserve ratio is 20%. If Melanie deposits $1,000 of cash into her checking account and the bank lends $600 to Morgan, the bank can lend an additional * $5,000. $1,000. $200. $400. $600.
Answer:
$200
Explanation:
Reserve ratio is the percentage of a deposit that a bank is supposed to withhold as reserves forming part of deposit that banks make into federal reserve.
It plays a major role in deciding the amount of money available to be lent and supply of money.
Workings
Reserve ratio - 20%
On a deposit of $1000, The reserve is 20% * 1000 =$200
Assuming no excess reserve , the limit on the deposit is $800
The reserve = $200
Therefore , if $600 is lent , the bank can further lend ($800-$600)
$200
14. A tax that takes a higher proportion from a low-income person than a rich person is known as a/an_
tax.
O A. estate
O B. progressive
O C. proportional
O D. regressive
Answer:
D
Explanation:
Paul Osborne is an agent for a major insurance company. He is responsible for building his own network of clients who purchase insurance policies and other financial services from him. He schedules appointments with prospective clients, makes sales presentations, and provides policy service after the sale.
Paul is a(n):
A. Order taker.
B. Order getter.
C. Supporting salesperson.
D. Sales technician.
E. Sales manager.
Answer:
B. Order getter
Explanation:
There are three types of personal selling. It includes:
1. Order taker
2. Order getter
3. Customer sales support activities.
Order getter: This is a situation in which a salesperson uses his/her skills to obtain orders from customers. The primary duty of the order getters is to persuade Customers to purchase their products. They are also responsible for acquiring new customers for a firm.
Order getters helps to increase sales of products in a firm thereby increasing revenue and profits. Order getters are solicitors for customers.
Order getters should maintain a very good relation with customers and must be patient with Customers so as to achieve a good result.
Order takers: They take orders from new and existing customers.
Paul Osborne is an order getter.
He is responsible for getting customers for the insurance for a major insurance company.
Hector has a favorite Mexican fast food restaurant he likes to go to for chicken burritos. He will drive ten miles to the location nearest his work to get a chicken burrito for lunch. For three years Hector has begged the owner of the fast food restaurant to open one in the shopping center near his employment so he and his fellow-workers can enjoy the delightful aroma, titillating taste, and spicy goodness of their chicken burritos. What utility is Hector seeking?
Answer:
The answer is Place Utility.
Explanation:
The place utility refers to the utility that is created for a particular commodity in relation to its location. In other words, it basically means, making goods and services available to current customers and potential customers. The place utility might involve the shipping a finished product to a new location, thereby making it more accessible to consumers than the place where it was initially manufactured.
Therefore, the patronage and reach of a product or service can be increased by changing its physical location.
In this context, Hector is seeking convenience utility from the fast food restaurant. This refers to the benefits he would obtain such as saved time and transportation cost if the restaurant was located close to his workplace.
Explanation:Hector is seeking convenience utility. This term, in the field of economics and business, refers to the value or benefits that a consumer gets from the features of a product or service that allow for ease of use and save the consumer's time.
In this situation, the convenience utility Hector is seeking comes from having the restaurant located near his workplace, significantly reducing the distance he has to travel to get his favorite chicken burritos, which essentially saves him time and transport costs. This highlights the importance of location in business as it is a major factor in customer convenience.
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Suppose the narrator’s company instituted a policy in which employees have to tell HR any time they receive a corporate gift worth more than $30. Instead of Red Sox tickets, Firm A gives the narrator a selection of little gifts over the course of several months, like notepads, pens, and coffee mugs.
It is likely that the small gifts would influence the narrator _______
A. less than the Red Sox tickets
B. more than the Red Sox tickets
C. more than the Red Sox tickets
D. the same as the Red Sox tickets
Answer:
C. more than the Red Sox tickets
Explanation
Based on the scenario being describe it can be said that It is likely that the small gifts would influence the narrator more than the Red Sox tickets. This mainly because the little gifts will sum up over time since they have been receiving them for about 7 months, instead of Red Sox tickets which would be the same repeated event every time.
Answer:
B) more than the Red Sox tickets
C) more than the Red Sox tickets
Explanation:
In the first part of the question the narrator receives free tickets to Red Sox games and decides to take his dad to them. The tickets were given to him by an audit company that wants to extend their current contract and the narrator has an important role in making that decision. The narrator himself is not a huge fan of the Red Sox, only his father is. He valued the tickets because he could take his father to the game, but nothing else.
Instead if he receives a selection of small gifts that he might actually like and use, that would influence him more than tickets that his father liked.
Suppose Ashley needs a dog sitter so that she can travel to her sister’s wedding. Ashley values dog sitting for the weekend at $200. Cami is willing to dog sit for Ashley so long as she receives at least $175. Ashley and Cami agree on a price of $185. Suppose the government imposes a tax of $30 on dog sitting. The tax has made Ashley and Cami worse off by a total of ___________.
Answer:
$30
Explanation:
Data provided in the question
Dog sitting value for the weekend = $200
Minimum amount received = $175
Agreed price = $175
Tax imposed by the government = $30
So by considering the above information, the total amount worse off is equal to the amount imposed by the government i.e tax value $30
As the question is asked indirectly about the worse off amount so it would be a tax amount i.e imposed by the government
Suppose the united states has two utilities, commonwealth utilities and consolidated electric. both produce 20 million tons of sulfur dioxide pollution per year. however, the marginal cost of reducing a ton of pollution for consolidated electric is $250 per ton and the marginal cost of reducing a ton of pollution for commonwealth utilities is $350 per ton. the government's goal is to cut sulfur dioxide pollution in half (by 20 million tons per year)
Answer:
A. Using a cap-and-trade system of tradable emission allowances will eliminate half of the sulfur dioxide pollution at a cost of $5,000 million per year.
B. If permits cannot be traded, then the cost of the pollution reduction will be $6,000 million per year
Explanation:
A. Using a cap-and-trade system of tradable emission allowances will eliminate half of the sulfur dioxide pollution at a cost of $5,000 million per year.
(250x20) =$5000
B. If permits cannot be traded, then the cost of the pollution reduction will be $6,000 million per year
[250(10)+350(10)]
=$2,500+$3,500
=$6,000
Rachel's Recordings reported net income of $240,000. Beginning balances in Accounts Receivable and Accounts Payable were $15,000 and $21,000 respectively. Ending balances in these accounts were $9,500 and $29,000, respectively. Assuming that all relevant information has been presented, Rachel's net cash flows from operating activities would be:
Answer:
bahut achha question
Explanation:
keep it upmujhe accha laga but mujhe iss questionanswer nhi ata
SorryMany companies are attracted to event sponsorships because Group of answer choices they help build equity and gain affinity with target audiences. they help in segmenting the target market. they are less expensive than traditional forms of advertising. they help in elucidating controversial issues of public importance. they explain management's position on social issues.
Answer: they help build equity and gain affinity with target audiences.
Explanation:
Many companies are attracted to event sponsorships because they help build equity and also gain affinity with target audiences.
An event sponsor is a firm that supports an event, by providing funds, as an exchange for something valuable. This "something valuable" can come in the form of increase in brand exposure, speaking opportunities at the event, access to attendee data,
or discounted event tickets
A producer with only one product has total fixed costs of $15,000 per month. In addition, it cost the producer $100 in variable costs to produce each unit of his product (raw materials and direct labor cost). The producer charges his wholesalers $125 per unit. What is the sales amount to break even
Answer:
The options are given below:
A. 600 units
B. 450 units
C. 550 units
D. 650 units
E. 500 units
The correct option is A.
Explanation:
The breakeven point refers to the level of production at which the costs of production will be equal to the revenues for a product.
In the question above, we are given:
Fixed costs = $15,000
Variable costs = $100 per unit
Price of one unit after production = $125
The formula for calculating the breakeven is given as:
Breakeven = [tex]\frac{fixed costs}{revenue per unit - variable costs per unit}[/tex]
we have:
Breakeven = [tex]\frac{15,000}{125 - 100}[/tex]
Breakeven = [tex]\frac{15,000}{25}[/tex]
Breakeven = 600 units.
A firm has a total of 40 of all types of customers and the time required to service all those customers totals 100 hours per year on average for each customer. The firm’s salespeople have 1,000 hours of selling time per year, that was calculated by multiplying 25 hours of selling time per week that the salesperson typically has available to be on the job with the customer, multiplied by 40 weeks [remember to subtract vacations (3 weeks), holidays (1 week), sick days (2 weeks) and 30 training days (6 weeks) from 52]. How many salespeople are needed to cover the market?
Answer:
4
Explanation:
We are given the following values
Time to service each costumers = 100
Time for per week = 25
To get the answer, we use the method
= 100/25
= 4
The number of salespeople that are needed to cover the market is 4
Deana's Salon purchased land to be used as a parking lot for $50,000 cash. The company assumed $1,500 in property taxes due on the land. The title and realtor fees totaled $500 and the costs to grade the land were $1,200. What is the total cost to be included in the Land account
Answer:
Cost of land= $53,200
Explanation:
According to International Accounting Standards (IAS) 16, Property plant and equipment (PPE), the cost of land includes all of the costs necessary to bring and make it ready for the intended use.
These costs include purchase cost, fees and commission associated with the purchase transaction. Further more, included in the historical cost are the net demolition cost of old structure to prepare the land for use e.g cost of grading
Net cost here means cost of demolition less any incidental proceed from the old structure.
The total,cost of land
= 50,000 + 1,500 +500 +1200
= $53,200
XYZ Company desires a successful product launch for its new product venture. Looking outside of its industry, the company solicited the advice of companies JKL and MNO, known for successful product introductions in past years. The business term used to describe the practice of looking toward others to develop a model approach is called:
Answer:
bench marking
Explanation:
XYZ Company desires a successful product launch for its new product venture. Looking outside of its industry, the company solicited the advice of companies JKL and MNO, known for successful product introductions in past years. The business term used to describe the practice of looking toward others to develop a model approach is called
BENCH MARKING
Answer:
Benchmarking
Explanation:
Benchmarking is an approach in business which involves comparing the similarities and differences in your business processes and performance standard against those of other leading organizations within your industry so as to identify performance lapses in order to achieve competitive advantage. It involves looking outside your organization to study how others achieve their results. Benchmarking as a strategy can be adopted against a product, function, process etc.
On December 1, Hansen Co. borrows $100,000 cash from National Bank by signing a 90-day, 6% interest-bearing note. On December 31, Hansen will record an adjusting entry by debiting interest expense in the amount of ______.
Answer:
$500
Explanation:
It is to be noted that on December 31, Hansen Co. will record an adjusting entry by debiting interest expense for approximately $500.01.
How is this so?To calculate the interest expense for the 31-day period in December, we need to determine the daily interest rate and then multiply it by the outstanding principal amount.
1. First, find the daily interest rate: 6% annual interest divided by 360 days (assuming a 360-day year for simplicity) = 0.01667% daily interest rate.
2. Next, calculate the number of days from December 1 to December 31: 31 days.
3. Then, calculate the interest expense:
Interest Expense = Daily Interest Rate × Outstanding Principal × Number of Days
Interest Expense = 0.0001667 × $100,000 × 31
Interest Expense ≈ $500.01
So, on December 31, Hansen Co. will record an adjusting entry by debiting interest expense for approximately $500.01.
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Rest Well Hotel orally ordered 1,000 blankets monogrammed with its initials, RWH, from TriColor Textiles. TriColor had just finished monogramming the blankets when Rest Well called and canceled the order. TriColor will be able to enforce the agreement even though there was no writing.a.trueb.false
Answer:
True
Explanation:
Most contracts can be either written or oral and still be legally enforceable;verbal agreement is a contract even though it is not in writing.
In order for an oral contract to be valid, it must contain these three elements: an offer, an acceptance of that offer and consideration in which each party receives something of value through an exchange to serve as the purpose of the contract.Rest Well Hotel proposed an offer to Tricolor, Tricolor Texitle accepted the offer and the company has put in a consideration by making the monogram.Therefore,because of the previous agreement between them, Tricolor can enfore the agreement
However, three main factors are needed in proving the validity of oral contracts. these are witness testimony, course of conduct, and credibility.
Which description BEST applies to today's U.S. worker? Question 1 options: a) working more at the office, leaving home for fun b) feeling more bored, and less interested in working hard c) working harder and longer, feeling more insecure d) slacking off more at work, enjoying leisure more
Answer:
Option C. working harder and longer, feeling more insecure
Explanation:
The reason is that the increase in automation has resulted in increase in unemployment and the result is that their is huge decrease in the jobs and the jobs that were previously unfilled are now filled due to increase in unemployment. Furthermore, this lead to increased bargaining power of the company position against the job seeker. This resulted in decrease in the wages of the employees as well.
All of the above issues resulted in increased hardwork desires of companies and insecurity of the people of America.
Worker Corporation allocates its single support department to its operating departments based on the single rate method using machine hours. The following information has been gathered for the assembly department, one of the two operating departments: Actual Budgeted Fixed costs $50,000 $47,960 Machine hours – Assembly 1,900 1,976 Variable costs – Assembly $121,000 $120,000 What is the cost-allocation rate for the assembly department using the single-rate method?
Answer:
$85 per machine hour
Explanation:
Actual Budgeted
Fixed costs $50,000 $47,960
Machine hours – Assembly 1,900 1,976
Variable costs – Assembly $121,000 $120,000
since the single rate method does not distinguish between fixed or variable costs, in order to determine the cost allocation rate we must add the fixed allocation rate and the variable allocation rate:
variable allocation rate = $120,000 / 1976 machine hours = $60.73fixed allocation rate = $47,960 / 1976 = $24.27total = $60.73 + $24.27 = $85 per machine hour
Final answer:
To determine the cost-allocation rate for the Assembly department using the single-rate method, combine the actual fixed and variable costs and divide by the number of machine hours, which results in a rate of $90 per machine hour.
Explanation:
The cost-allocation rate using the single-rate method is computed by combining the total fixed costs and variable costs and then dividing by the number of machine hours. In this case, the given information indicates that the actual fixed costs are $50,000 and the actual variable costs for the Assembly department are $121,000. Therefore, the total costs for the Assembly department would be $50,000 + $121,000 = $171,000. Since there are 1,900 actual machine hours, to calculate the cost-allocation rate we divide the total costs by the number of machine hours. The calculation is as follows:
Cost-Allocation Rate
= Total Costs / Machine Hours = $171,000 / 1,900
=$90
per machine hour.
Zanda Corp. and Jones Corp. are identical in every way (products produced, costs, demand, etc.) except for one. Zanda uses a level production plan while Jones prefers a chase production plan.
Which of the following is most likely to be true?
a) Zanda will have higher investment in plant and equipment.
b) Zanda will have lower total production costs.
c) Zanda will have higher inventory carrying costs.
d) Zanda will have higher hiring and firing costs.
Answer: (C) Zanda will have higher inventory carrying costs.
Explanation:
The inventory carrying cost is one of the type of overall holding inventory cost that helps in identifying the various types of business expenses and also storing the various types of unsold goods and the services in the market.
The inventory carrying cost is also known as the holding cost and it is basically responsible for handling the cost system by using the estimated formula.
According to the given question, Zanda corporation is basically using the level production plan for the purpose identifying their business factors such as costs, demand and the products.
So, based on the given information is Zanda will have the high inventory carrying cost statement is true. Therefore, Option (C) is correct answer.
Lance is an executive at a manufacturing company, and he needs to write a letter thanking amoreena sanchez, a partner at a law firm that sometimes represents his company in disputes, for the congratulatory bottle of champagne she sent to his office after they successfully defended against a lawsuit. lance and amoreena also happen to be good friends who grew up on the same block. how should lance compose the letter's salutation?
Answer: Dear Amoreena
Explanation:
The standard salutation to use when writing a business letter is "Dear", which is then followed by the name of the person and closing with a colon.
Even though Lance and Amoreena are good friends who grew up living in the same area, it won't be appropriate just addressing him anyhow without using the proper salutation. This is an official letter and should not be treated as an informal letter.
During the year, Kiner Company made an entry to write off a $16,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $200,000 and the balance in the allowance account was $18,000. The net realizable value of accounts receivable after the write-off entry was: a) $ 200.000 b) $198.000 c) $ 166.000 d) $182.000
Answer:
The correct option is B,$198,000
Explanation:
The balance in allowance for uncollectible accounts was standing at $18,000 and it was decided to write-off $16,000 off the this existing balance,which implies that the balance left in the allowance for uncollectible account to set off against accounts receivable is $2,000($18,000-$16,000).
Invariably,the net realizable value of accounts receivable is $198,000($200,000- $2,000).
The correct option hence is B, $198,000
Final answer:
The net realizable value of Accounts Receivable after Kiner Company wrote off a $16,000 uncollectible account, assuming an original balance of $200,000 in Accounts Receivable and a $18,000 balance in the allowance for doubtful accounts, remains $182,000.
Explanation:
When the Kiner Company made an entry to write off a $16,000 uncollectible account, they removed an account that was deemed noncollectable from their Accounts Receivable. Prior to this entry, the Accounts Receivable balance was $200,000 with an allowance for doubtful accounts of $18,000. The net realizable value of the Accounts Receivable after the write-off is computed as follows:
Net Accounts Receivable before write-off:
Accounts Receivable - Allowance for Doubtful Accounts = $200,000 - $18,000 = $182,000
After the write-off of $16,000, the Allowance for Doubtful Accounts would reduce (but this does not affect the net accounts receivable as the loss had already been anticipated):
New Allowance for Doubtful Accounts = $18,000 - $16,000 = $2,000
However, the write-off does not change the previously calculated net realizable value because the allowance account had already accounted for this potential loss.
Therefore, the net realizable value of the Accounts Receivable after the write-off remains:
$182,000.
The corresponding answer to the question given the options would therefore be (d) $182,000.
All of the following are challenges of outsourcing, except:
A. competitive edge.
B. confidentiality.
C. contract length.
D. reduced frustration and expense related to hiring and retaining employees in an exceptionally tight job market.
Answer:
The correct answer is D
Explanation:
Outsourcing is the term which is defined as the contract or an agreement in which one company hires another company for being responsible or accountable for the existing or planned activity or operation which could be done internally and sometimes, it include the transferring of the assets and employees from one business to another.
So, the outsourcing challenges involve or comprise of the confidentiality, competitive edge and the length of the contract. Therefore, it does not decrease the expense and frustration in relation to retaining and hiring the employees.
Among the options listed, reduced frustration and expense related to hiring and retaining employees in a tight job market is the only option that is not a challenge of outsourcing, but rather a potential benefit.
Explanation:The challenges of outsourcing include issues such as maintaining competitive edge, protecting confidentiality, and managing contract length. However, one potential benefit of outsourcing, which is not considered a challenge, is reduced frustration and expense related to hiring and retaining employees in an exceptionally tight job market. Hence, among the options provided, 'D. reduced frustration and expense related to hiring and retaining employees in an exceptionally tight job market' is the exception and not a challenge of outsourcing.
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Knox, president of Quick Corp., contracted with Tine Office Supplies, Inc., to supply Quick’s stationery on customary terms and at a cost less than that charged by any other supplier. Knox later informed Quick’s board of directors that Knox was a majority shareholder in Tine. Quick’s contract with Tine is:
Answer:
D.
Explanation:
Based on the scenario being described within the question it can be said that the Quick’s contract with Tine is valid because the contract is fair to Quick. Therefore, the fact that Knox is a majority shareholder in Tine does not complicate the deal. If the deal was made to be more fair to Tine then this information can cause a complication, and even make the contract void.
A Supercenter:
a. Is just another name for a mass-merchandiser
b. Probably would not affect nearby supermarkets
c. Tries to provide all of a customer's routine needs at a low price
d. Is a large department store that uses supermarket methods
e. None of the above
Answer:
C. Tries to provide all of a customer's routine needs at a low price
Explanation:
A Supercenter can be defined as a huge discount department store that also sells a unique and whole line of grocery merchandise.