Answer:
False
Explanation:
Cost of Property, Plant and Equipment Item according to IAS 16 includes : Purchase Cost and other Costs directly incurred to put the asset in the location and condition intended by the managers.
Thus, The realtor commissions and legal fees are part of costs to put the asset in the location and condition intended by the managers and hence included in cost of Building.
They are therefore not expensed in the current period
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.
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
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.
Barbara is a producer in a monopoly industry. Her demand curve, total revenue curve, marginal revenue curve and total cost curve are given as follows:
Q = 160 - 4P TR = 40Q - 0.25Q2 MR = 40 - 0.5Q TC = 4Q MC = 4
The price of her product will be ________.
Answer:
22
Explanation:
A monopoly will maximize profit at MR = MC ( marginal revenue = marginal cost)72
MR =MC
40 -0.5 Q = 4
-0.5 Q = 4 - 40 = -36
Q = -36 / -0.5 = 72
The price of the her product
Q = 160 - 4P
4P = 160 - 72 = 88
P = 88 / 4 = 22
The price of Barbara's product will be $22.
Explanation:To determine the price of Barbara's product, we need to find the equilibrium point where marginal revenue equals marginal cost. Setting MR equal to MC, we have 40 - 0.5Q = 4. Solving for Q, we get Q = 72. Substituting this back into the demand curve Q = 160 - 4P, we can solve for P by substituting 72 for Q and solving for P.
Q = 160 - 4P becomes 72 = 160 - 4P. Subtracting 160 from both sides gives us -88 = -4P. Dividing both sides by -4 gives us P = 22.
Therefore, the price of Barbara's product will be $22.
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A small barbershop is operated by a single barber. it has room for at most two customers. potential customers arrive as a poisson process with a rate of three per hour, and the successive service times are independent exponential random variables with mean 0.25 hour. find: (a) the average number of customers in the shop. (b) the proportion of potential customers that enter the shop (in the long run). (c) if the barber could work twice as fast, how much more business could he do?
λ=3 , mu = 5
Explanation:
λ=3
mu = 5
states
0 - no customers
1- 1 customre
2 - 2 customers
Set up Equations
Rate of entry = Rate of exit
5P1 =3P0
5P2 + 3P0 = 5P1 + 3P1
3P1 = 5P2
P0 + P1 + P2 = 1
solve the above
1a) = 0 into P0 plus 1 into P1 plus 2 into P2
b) λ ( 1 minus P2) by λ = 1 - P2
c) change the paramater mu = 5 into 2 and solve a) again
For a monopolistically competitivemonopolistically competitive firm, A. price is equal to marginal revenueprice is equal to marginal revenue because the firm can sell as much output as it chooses at the standardizedcan sell as much output as it chooses at the standardized market price.market price. B. marginal revenue is less than the pricemarginal revenue is less than the price because the firm can sell as much output as it chooses at the standardizedcan sell as much output as it chooses at the standardized market price.market price. C. price is equal to marginal revenueprice is equal to marginal revenue because the firm must lower the price for each additional unit it wants to sell.must lower the price for each additional unit it wants to sell. nothing D. marginal revenue is less than the pricemarginal revenue is less than the price because the firm must lower the price for each additional unit it wants to sell.must lower the price for each additional unit it wants to sell.
Answer:
The answer is D.
Explanation:
For a monopolistically competitive, there are many firms and sellers. The products are differentiated. The products are identical.In this market, for firm to sell additional output, it must lower the price for each additional unit it wants to sell because the lower the price, the higher the quantity demanded. Total revenue increases with increasing units sold but by less than the price.
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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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.
Two oligopolists have to decide on their pricing strategy. Each can choose either a high or a low price. If they both choose a high price, each will make $12 million, but if they both choose a low price, each will make only $8 million. If one sets a high price and the other a low one, the low-priced firm will make $16 million, but the high-priced firm will make only $4 million.
In the absence of collusion, each will _________.
Answer:
Considering absence of collusion,the firms will choose low price in this instance.Explanation:
First,focusing on all the possible payoffs for the firms under low price situation, the possible individual payoffs for the firms are $8 million and $16 million considering that the other firm chooses low price and high price respectively.Now, regarding the individual payoffs from choosing high price, the possible payoffs for the firms are $12 million and $4 million, considering that the other firm chooses high price and low price respectively.Therefore, notice that considering all possible scenarios,both the minimum and maximum payoffs from choosing low price are actually higher than the same estimates under choosing higher price.Hence, to ensure a higher subsequent individual payoff, both the firms would expectedly choose lower price considering the possibilities of both higher minimum and maximum payoff compared to choosing higher price.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.
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.
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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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.
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.
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.
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.
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.
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.
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
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.
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.
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.
Paul and Michael sell magazine subscriptions by telephone. Paul is paid $1.00 for every five calls he makes, while Michael is paid $1.00 for every subscription he sells, regardless of the number of calls he makes. Paul’s telephoning is reinforced on a __________ schedule, whereas Michael’s is reinforced on a __________ schedule. Group of answer choices Variable-ratio; fixed-ratio Fixed-ratio; variable-ratio Fixed-ratio; variable-interval Fixed-interval; variable-ratio
Answer:
Fixed-ratio; variable-ratio
Explanation:
Paul’s telephoning is reinforced on a fixed-ratio schedule, whereas Michael’s is reinforced on a variable-ratio schedule.
A fixed ratio reinforcement schedule: They are a set number of responses that must occur before the behavior is rewarded. This means the number of responses to be exhibited by an individual in order to be rewarded is fixed.
Fixed-ratios are better used to optimize the quantity of output.
Variable ratio reinforcement schedule: The number of responses needed for a reward varies. This implies that the number of responses to be rewarded varies according to requirement. It is a partial reinforcement.
Paul's telephoning follows a fixed-ratio reinforcement schedule, with a predictable pattern of receiving $1.00 after every five calls. Michael's selling follows a variable-ratio reinforcement schedule, where the reward comes after an unpredictable number of calls needed to sell a subscription.
Explanation:Paul's telephoning is reinforced on a fixed-ratio schedule because he earns $1.00 after every five calls, which is a set number of responses required before reinforcement. On the other hand, Michael's telephoning is reinforced on a variable-ratio schedule since he earns $1.00 for every subscription he sells, and there is no set number of calls he must make before making a sale; the reinforcement depends on when the sale occurs, which is variable.
The fixed-ratio schedule is predictable and is characterized by a reward after a specific number of responses, leading to a short pause after reinforcement before a high level of responding resumes. A variable-ratio schedule, however, rewards after an unpredictable number of responses which leads to a steady and high rate of response without a discernible pause after reinforcement, much like playing slot machines or buying lottery tickets.
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.
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.
Home Smart Inc. is a chain of supermarkets that sells its products at higher prices than its competitors. Yet, the supermarket chain has a large customer base due to its wide product portfolio and superior customer service. Which of the following generic business strategies has Home Smart adopted in this scenario?
Differentiation
Strategic trade-offs
create higher customer perceived value than the value that competitors create.
economic value created is greater than that of its competitors.
Answer:
Differentiation
Explanation:
Differentiation is when a firm makes its product unique and create great value to customers compared to the value created by the competitors. t is a process where a firm makes its product a brand among perspective buyers by making it more attractive and unique.
When a firm's product becomes a brand, an increase in price of such product will not deter people from buying it. Such would even be preffered compared to competitors' despite price increase.
Industries, firms engages in differentiation in order to have control over range of products. This also increases profitability for the firm because there would be more demand for the firm's product.
Example of differentiation include provision of word and visual version of text books for students,
The Smiths' purchased a residence for $75,000. They made a down payment of $15,000 and agreed to assume the seller's existing mortgage, which had a current balance of $23,000. The Smiths' financed the remaining $37,000 of the purchase price by executing a second mortgage whereby the seller became a mortgagee. This type of loan is called a _______.
Answer:
Purchase money mortgage.
Explanation:
A purchase money mortgage is the loan that is given to the individual buying the property.
This loan is issued by the seller of the property as a part of the transaction made when selling the property. The interest rate that comes with this type of loan is high.
The buyers benefit from the purchase money mortgage due to the flexible requirements that is needed in collecting the loan while the sellers benefits from the high interest rates that is added to the loan.
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
Arthur works at an advertising agency and is in charge of the visual look of the message,
both in print and TV, and how it communicates mood, product qualities, and psychological
appeals. He makes decisions about whether to use art or photography in print, film or animation
in television, and what type of artistic style to use. He was trained in graphic design and designs
ads, but he rarely creates the finished art. What is Arthur's job title?
Answer:
The options are listed below:
A. Producer
B. Art director
C. Advertising director
D. Creative director
E. Creative strategist
The correct option is B
Explanation:
In advertising, the art directors are in charge of ensuring that their clients' desired message and image is communicated to the consumers. The art directors are the ones responsible for the overall visual aspects of an advert or media campaign and they are also the ones who coordinate the work of other artistic or design staff, such as graphic designers.
Art directors rarely create the ads themselves, rather, they direct visual aspects and how the message will be conveyed.
From the explanation given above, we can see that Arthur is an art director.
The correct job title for Arthur's role is likely an Art Director.
Art Directors are responsible for the visual style and images in magazines, newspapers, product packaging, and movie and television productions. They decide how to best represent a concept visually and create the overall design and direct others who develop artwork or layouts. Art directors work with graphic designers, illustrators, photographers, and other artists to create a particular look or feel for the project.
In the context of advertising, an Art Director would be in charge of the visual look of the message, both in print and on TV, as described in the question. They make decisions about the use of art, photography, film, or animation and determine the artistic style that will best communicate the mood, product qualities, and psychological appeals. While they may have a background in graphic design and may design ads, they typically oversee the production and delegate the creation of the finished art to other designers or artists.
Therefore, considering Arthur's responsibilities and his background in graphic design, the job title that best fits his role is that of an Art Director.