Answer:
a. $7,000
b. $39,500
c. $19,000
Explanation:
a. The computation of the net income or net loss is shown below:
= (June 30,2018 assets - June 30,2018 liabilities - contribution) - (May 31,2018 assets - May 31,2018 liabilities)
= ($209,000 - $99,000 - $25,000) - ($211,000 - $133,000)
= $85,000 - $78,000
= $7,000
b. The computation of the net income or net loss is shown below:
= (June 30,2018 assets - June 30,2018 liabilities + cash withdrawn) - (May 31,2018 assets - May 31,2018 liabilities)
= ($209,000 - $99,000 + $7,500) - ($211,000 - $133,000)
= $117,500 - $78,000
= $39,500
c. The computation of the net income or net loss is shown below:
= (June 30,2018 assets - June 30,2018 liabilities + cash withdrawn - contribution) - (May 31,2018 assets - May 31,2018 liabilities)
= ($209,000 - $99,000 + $22,000 - $35,000) - ($211,000 - $133,000)
= $97,000 - $78,000
= $19,000
To calculate the net income or net loss for different situations involving owner's contributions and withdrawals, we need to find the change in total assets and total liabilities from May 31 to June 30. The net income or net loss can be calculated by subtracting the change in total liabilities from the change in total assets.
Explanation:In this question, we are given the total assets and total liabilities for two different dates (May 31, 2018 and June 30, 2018). We are then asked to calculate the net income or net loss for three different situations that occurred in June 2018, involving the owner's contributions and withdrawals. Let's go step by step to solve each situation:
a. The owner contributed $25,000 to the business and made no withdrawals.
To calculate the net income or net loss, we need to find the change in total assets and total liabilities from May 31 to June 30. The change in total assets is $209,000 - $211,000 = -$2,000. The change in total liabilities is $99,000 - $133,000 = -$34,000. Therefore, the net income or net loss is -$2,000 - (-$34,000) = $32,000.
b. The owner made no contributions. The owner withdrew cash of $7,500.
The change in total assets is $209,000 - $211,000 = -$2,000. The change in total liabilities is $99,000 - $133,000 = -$34,000. Therefore, the net income or net loss is -$2,000 - (-$34,000) = $32,000.
c. The owner made contributions of $35,000 and withdrew cash of $22,000.
The change in total assets is $209,000 - $211,000 = -$2,000. The change in total liabilities is $99,000 - $133,000 = -$34,000. Therefore, the net income or net loss is -$2,000 - (-$34,000) = $32,000.
When well-informed, specialized salespeople provide useful information to potential customers, these customers do not purchase the new product from a lower-cost outlet.
True / False.
Answer:
False
Explanation:
The fact that they are provided with useful information does not inhibit them from buying it some where else.
A volunteer has been working at a very physical job for 10 hours. At the end of his shift, he said he was fine and continued working. You should: A. Make the volunteer leave the worksite for a complete rest period. B. Require him to break for fluids, then let him continue. C. Assign a second volunteer to help him. D. Allow him to continue working until he indicates fatigue.
Answer:
B. Require him to break for fluids, then let him continue
Explanation:
According to my research on labor ethics, I can say that based on the information provided within the question you should require the worker to break for fluids, then let him continue. This can be said because when working at a very physical job the body needs plenty of fluids to stay hydrated, that being said each person knows what they are feeling and what they can or cannot handle, so you should let him continue working if he can.
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For accounting errors, which of the below sentences is true?
a. They are primarily caused by lack of training.
b. They are problems caused by failures in systems, procedures, and policies.
c. They represent fraud and normally result in legal action being taken.
d. They represent intentional sabotage of controls.
Answer:
The answer is B, They are problems caused by failures in systems, procedures, and policies.
Explanation:
Accounting anomalies are when perpetrators commit fraud against their employers, accounting records such as documents, journal entries, ledgers, or financial statements are often altered, forged, or missing.
A garden center sells a certain grass seed in 5-pound bags at $13.85 per bag, 10-pound bags at $20.43 per bag, and 25-pound bags at $32.25 per bag.If a customer is to buy at least 65 pounds of the grass seed, but no more than 80 pounds, what is the least possible cost of the grass seed that the customer will buy?
Answer:
and it maybe wrong but this is what i came up with
Explanation:
56.00
How does time impact elasticity of supply?
A product that is elastic in the short run will not be in the long run.
A product can become more elastic in the long run.
A product is typically more elastic in the short run.
A product that is inelastic in the long run will not be in the short run.
Time has a significant impact on the elasticity of supply. A product can become more elastic in the long run as suppliers have more time to make necessary adjustments. In the short run, a product is typically less elastic due to constraints.
Explanation:In the short run, suppliers may find it difficult to adjust their production levels due to constraints such as fixed inputs and limited time. This often leads to a less elastic supply. However, over time, suppliers can make necessary adjustments, such as increasing their capacity, finding alternative suppliers, or investing in new technology. This can make the supply more elastic in the long run.
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In a lean system, work-in-process inventory is reduced to reveal production problems, which can then be
a. addressed.
b. ignored because it has little effect on the availability of finished goods inventory.
c. increased to prevent work stoppages due to production problems and smooth overall production.
d. eliminated entirely.
Answer:
A.
Explanation:
Lean system, also called lean manufacturing, is a continuous elimination of waste from all process, using the ideas of all employees, especially those at the lower levels of the organization.
Process of Inventory Tracking:
-Sensors. to track real time movements and location of raw materials, work in progress and finished goods, and high value tooling.
-Analytics. to optimize inventory on hand and automatically signal for replenishment.
Advantages:
-This process freeing up employees for more valuable tasks.
-Inventory accuracy.
-Cost cutting.
-Improved data visibility.
-Preventing stock issues.
-Better customer service.
Receive cash from customers, $16,400. Pay cash for employee salaries, $10,400. Pay cash for rent, $4,400. Receive cash from sale of equipment, $9,400. Pay cash for utilities, $2,400. Receive cash from a bank loan, $5,400. Pay cash for advertising, $8,400. Purchase supplies on account, $4,400. Required: Post transactions to the Cash T-account and calculate the ending balance.
Answer:
calculate the ending balance.$1200
Explanation:
Cash account
Deb Cre
Receive cash from customers 16400
Pay cash for employee salaries 10400
Pay cash for rent 4400
Receive cash from sale of equipment 9400
Pay cash for utilities 2400
Receive cash from a bank loan 5400
Pay cash for advertising 8400
Purchase supplies on account 4400
31200 30000
ending balance 1200
To calculate the ending cash balance in the Cash T-account, all cash inflows and outflows from the provided transactions are recorded, resulting in an ending cash balance of $5,600 after accounting for all the listed transactions.
The subject of this question is Business, specifically focused on accounting principles as applied to keeping a Cash T-account and calculating the ending balance. When posting transactions to a Cash T-account, increases in cash (inflows) are added on the debit side, while decreases (outflows) are recorded on the credit side.
To calculate the ending cash balance, we start with an assumed beginning balance of zero (unless otherwise provided), add all the cash inflows, and subtract cash outflows. For the transactions given:
Receive cash from customers: +$16,400 (Debit)Pay cash for employee salaries: -$10,400 (Credit)Pay cash for rent: -$4,400 (Credit)Receive cash from sale of equipment: +$9,400 (Debit)Pay cash for utilities: -$2,400 (Credit)Receive cash from a bank loan: +$5,400 (Debit)Pay cash for advertising: -$8,400 (Credit)Purchase supplies on account: $0 (No cash impact)Now, calculate the ending balance:
Ending Balance = Begin Balance + Cash Inflows - Cash Outflows
Ending Balance = $0 + ($16,400 + $9,400 + $5,400) - ($10,400 + $4,400 + $2,400 + $8,400)
Ending Balance = $31,200 - $25,600
Ending Balance = $5,600
Therefore, after posting all the transactions, the ending cash balance in the T-account is $5,600.
Simone is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Because her pool sessions are helping her swim more quickly, Simone plans to reduce by 1 hour per week the time she spends training on the bike and increase by 1 hour the time she spends in the swimming pool; however, her husband says that she should stop doing any biking and running and spend all 20 hours per week in the pool. Which basic principle of individual choice does Simone seem to understand that her husband does not?
Answer: Marginal decision making
Explanation: Her husband did not understand that while making decision, sometimes individuals have to choose option on margin basis.
If Simone decides to take all her time in the pool then she will loose the benefit she is getting from the bike. The value that Simone is getting from biking might be a little bit higher what she is getting from swimming.
This whole process brings her the overall development and its not the case of choosing one option over other.
pple is known for its innovation. It conducts in-depth marketing research to determine what customers want. Its electronic devices are constantly upgraded so customers can purchase the newest models. The company creates buzz around its product offerings by discussing the product months before it is launched. This anticipation builds up until the product is launched, resulting in wide-scale sales that often result in stores selling out of the newest product. Refer to Scenario 1.2. From the information provided about Apple and its marketing strategies, Apple most likely embraces a _______________.
Answer:
Market orientation
Explanation:
Market orientation is a kind of business philosophy in which the company focuses on finding out the needs of the consumers and developing the solutions to meet the needs of the consumer.
Here, the Apple conducts the marketing research to find out the customer needs and upgrade the devices to new models to meet the needs of the consumer.
________ all costs of a product that GAAP requires companies to treat as an asset for external financial reporting. These costs are recorded as an asset (inventory) on the balance sheet until the asset is sold. The cost is then transferred to an expense account (Cost of Goods Sold) on the income statement.
Answer:
Product costs are.
Explanation:
Often the information needed by internal managers stands in sharp contrast to external reporting requirements promulgated by Generally Accepted Accounting Principles (GAAP).
GAAP requires full costing and management decision making requires incremental information.
According to GAAP, all manufacturing costs must be treated as product costs, and all selling and administrative costs must be treated as period costs.
Material cost + labor costs incurred directly in producing the product + other production or indirect production overhead costs.
If the products are in inventory, the costs are recorded as assets. If they have been sell, the are recorded as costs of goods sold.
In which of the following managerial tasks are work relationships restructured to facilitate the interaction and cooperative efforts of organizational members, all of whom strive to achieve organizational goals?
Answer:
The correct answer s Organizing.
Explanation:
Organization is to design and determine the organizational structure, provide for personnel requirements, assign roles and tasks to the person, anticipate the need for materials, machinery, establish work processes and allocate the resources required.
Integration of personnel: It is the process of capturing, selecting, assigning and training the personnel, as well as assigning the authority and the tasks that must be carried out individually and the equipment for the progress of the organization.
An investor short sells 200 shares of a stock for $19 per share. The initial margin is 53%. How much equity will be initially required in the account to complete this transaction? In other words, what is the initial margin deposit?
Answer:
$2,014
Explanation:
Given:
Number of shares sold = 200 shares
Price per share = $19
Initial margin = 53%
Now,
the total value of the equity = Number of shares × Price per share
or
the total value of the equity = 200 × $19 = $3,800
Therefore,
The initially required equity = value of the equity × Initial margin
or
The initially required equity = $3,800 × 53% = $2,014
Suppose a study shows that the demand for Goodyear tires is more elastic than the demand for all tires. What could be a likely explanation for this? The demand for Goodyear tires could be more elastic than the demand for all tires because a) Goodyear tires are more of a necessity.b) Goodyear tires are less costly.c) Goodyear tires are more broadly defined.d) Goodyear tires have more close substitutes.e) Goodyear tires are consumed over a shorter period of time
Answer:
The demand for Goodyear tires could be more elastic than the demand for all tires because Goodyear tires have more close substitutes
Explanation:
The elasticity in the demand of a product is the increase or decrease in the demand for a product due to the change of a price, when the demand is more elastic means that the percentage change in the increase in the demand is bigger than the the percentage change in the fall in the price of a product and the percentage change in the fall the demand is bigger than percentage change in the rise of a product. A great example of an elastic demands is when a product has close substitutes, beacuse if the prices rices you can change the brand for other substitutes.
The demand for Goodyear tires is likely more elastic than the demand for all tires because Goodyear tires have more close substitutes, allowing consumers to easily choose another brand if prices increase.
Explanation:The demand for Goodyear tires could be more elastic than the demand for all tires likely because Goodyear tires have more close substitutes. Elasticity of demand indicates how sensitive the quantity demanded is to a change in price. When products have close substitutes, consumers can easily switch to another brand if the price of one brand increases, making their demand more elastic. This contrasts with goods that are necessities or have few substitutes, which tend to have inelastic demand because consumers cannot easily find alternative products and must purchase the item even if the price rises.
A business renders services to a client and issues a sales invoice. The amount will be collected from the customer at a later time. Which of the following is true at the time the invoice is issued?a)net income will increaseb) total liabilities will increasec) total assets will decreased) equity will decrease
Answer:
a) net income will increase
Explanation:
The business must record the Account Receivable (Debit – Asset increased) against de income for the Revenue (Credit – Equity increased). Then will record the loss for the Cost of Sold Goods (Debit – Equity decreased) against the exit of the sold goods (Credit – Asset – decreased). As the income (Revenue) will be larger than the loss (Cost of Sold Goods), the Net Income will be increased.
Final answer:
At the time a sales invoice is issued for services to be collected later, net income increases due to revenue recognition, even though cash has not yet been received. This transaction does not immediately affect liabilities, other assets, or equity.
Explanation:
When a business issues a sales invoice for services rendered to a client, to be collected at a later time, the transaction impacts the accounting equation in a specific way. At the time the invoice is issued, the business recognizes the revenue earned - even though it has not yet received the cash. This scenario increases both net income and accounts receivable, an asset, reflecting the right to collect money in the future.
Given these changes, the correct statement is that net income will increase (a). Liabilities will not increase because the transaction does not involve borrowing or creating a new payable; assets will not decrease since the service has been provided but payment is yet to be received; and equity will not decrease because the revenue increases net assets, part of which is equity.
Functions are often described as cause and effect in economics. In an economics function, if the variable is on the right-hand side and is doing the explaining, it represents a(n)________?
Answer:
It represents a cause
Explanation:
If it is on the right side of the function it means that it is one of the independent variables that explains the dependent variable (located on the left side of the function). What the function is representing is the influence that the independent variable (the cause of the dependent variable) has on the dependent variable (the effect that the cause or causes are being sought).
Final answer:
In an economics function, the variable on the right-hand side that does the explaining is known as the independent variable. These variables represent the causes or explanatory factors that influence the dependent variable, which is the effect seen on the left-hand side of the equation.
Explanation:
Often in economics, functions describe cause and effect. In an economics function, the variable on the right-hand side, which represents the causes or the explanatory variables, is typically known as an independent variable. For instance, consider a function that determines your GPA based on certain factors:
GPA = 0.25 x combined_SAT + 0.25 × class_attendance + 0.50 × hours_spent_studying
In this function, 'GPA' is the dependent variable, or the effect, which appears on the left-hand side of the equation. The factors on the right-hand side, 'combined_SAT', 'class_attendance', and 'hours_spent_studying', are the independent variables—they explain or predict the dependent variable. Such mathematical representations help economists to analyze relationships between different economic entities and to predict how changes in one aspect can affect another.
Perla is trying to decide which of two plasma television sets she should purchase. One is more expensive than the other, but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls, but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision?
Select one:
a. Single criteria
b. Consideration set
c. Sound quality.
d. Price
e. Multiple criteria
Answer:
The answer is e. Multiple criteria
Explanation:
As Perla decides which television to get, she first compares the price of two television sets, one being more expensive than the other. Then she compares the resolution of the screens, and by their specifications the most expensive one has better resolution than the other. After that, she compares sound quality, which turns out to be the same for both televisions. The remote control is not relevant because she does not consider that to be a factor in her decision. Thus, we can conclude that Perla is using multiple criteria —3, to be specific—, to make her decision.
"If domestic fuel prices rise to $5 per gallon, conservation will increase, alternative fuels will be developed, and energy efficiency and our quality of life will improve." This philosophy is consistent with ________ economics. A) environmental B) neoclassical C) subsistence D) social E) Cooperative
Answer:
environmental
Explanation:
According to my research on different types of economics, I can say that based on the information provided within the question this philosophy is consistent with environmental economics. This is a type of economics that focuses on dealing with the relationship between the economy and the environment. In this situation we are seeing how fuel prices (economy) affect the quality of life of the citizens (environment).
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Mark is developing the marketing strategy for his business, which is a retail store. He knows that situation characteristics will interact with his marketing activity. Which of the following is a situation characteristic he needs to consider?
Answer:
The correct answer is task definition.
Explanation:
A task describes a unit of work. Each task is carried out by specific roles. The granularity of a task normally ranges from a few hours to a few days. It usually affects a work product or a small number of them. Tasks do not necessarily have to be used as a basis for planning and monitoring progress. They are often too granulated for such a task; the groupings of activities of the tasks tend to be preferable units for planning and monitoring.
A task has a clear objective, usually expressed in terms of creating or updating some work products, such as models, classes or plans. In a task, each realization role achieves a well defined objective. A task provides complete step-by-step explanations of the work that must be done to achieve that goal. This description is complete, regardless of the time in the life cycle of a process in which the work should be performed. Therefore, it does not describe each task at all times, but describes all the work that is carried out throughout the life cycle of development that contributes to achieving the objective of the task.
Walt made an extra $8000 last year from a part-time job. He invested part of the money at 9% and the rest at 8%. He made a total of $ 690.00 in interest. How much was invested at 8%?
Answer:
$3,000
Explanation:
As the total amount of investment = $8,000
This was invested partially at 9% and partially at 8%, which after a year resulted into interest revenue of $690.
Therefore, let investment @ 9% be $x
Thus, $x [tex]\times[/tex] 9% + ($8,000 - $x) [tex]\times[/tex] 8% = $690
0.09x + $640 - 0.08x = $690
0.01x = $690 - $640 = $50
x = $50/0.01 = $5,000
Therefore, amount invested at 9% = $5,000
Thus, interest = $5,000 [tex]\times[/tex] 9% = $450
Amount invested at 8% interest = $8,000 - $5,000 = $3,000
Interest thereon, = $3,000 [tex]\times[/tex] 8% = $240
Therefore, final answer
$3,000
During the sensorimotor stage of cognitive development, the child:
a. acquires the principle of conservation.
b. becomes adept at using words, images, and symbols to represent the world.
c. uses logic to systematically solve problems.
d. relies on his or her sensory and motor skills to acquire practical knowledge about the world.
Answer:
The correct answer is d.
Explanation:
This stage extends from birth to the acquisition of the individual's language. Children build step-by-step knowledge and understanding of the world by coordinating experiences (such as sight and hearing) related to physical interaction with objects (such as grabbing and stepping).
The development of the permanence of the object is one of the characteristic achievements of this stage. Object permanence is the child's understanding that objects continue to exist even though he or she cannot perceive them.
Have a nice day!
The child in the sensorimotor stage relies on sensory and motor skills to gain practical knowledge about the world. The stage includes the foundational understanding that objects continue to exist even when not seen, known as object permanence.
During the sensorimotor stage of cognitive development, the child relies on his or her sensory and motor skills to acquire practical knowledge about the world. This stage, which extends from birth to the acquisition of language, involves infants constructing an understanding of the world by coordinating experiences (such as tasting, smelling, touching, hearing, and moving objects) with physical actions. Hence, the infants gain knowledge of the world from the physical actions they perform.
The correct answer to the question is option (d): the child relies on his or her sensory and motor skills to acquire practical knowledge about the world. The development of object permanence, where an infant recognizes that objects continue to exist even when they are no longer visible, is a key accomplishment during the sensorimotor stage.
Managers in a home improvement company have been having problems with employees starting cliques. To develop more of a team culture, the CEO suggested utilizing Mary Parker Follett's belief: companies shoulda. increase diversity.b. implement a more rigid environment.c. utilize time-motion studies.d. operate as a community, with employees working in harmony.e. strive to cut costs and increase efficiency.
Answer: Option D
Explanation: Mary Parker believed that management is the art of making people do things you want. To achieve this both senior and subordinates should work in collaboration.
In the given case, the employees in the organisation are starting cliques, that is they are not accepting the outsiders and are not communicating with them. Thus, if the employees develop an attitude that they are a community then they could collaborate with each other.
Hence from the above we can conclude that the correct option is D.
Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand their production line. The profit that they keep to reinvest in the business is recorded as A : a long-term investment. B : common stock. C : property, plant, and equipment. D : retained earnings.
Answer:
The profit that they keep to reinvest in the business is recorded as D : retained earnings.
Explanation:
Retained earnings (RE) is the amount of net income left over for the business after it has paid out dividends to its shareholders.
A _____ is a system that assesses an organization's marketing information needs, develops the needed information, and helps decision makers use information to create and validate actionable customer insights.
Emma, the marketing manager, is constantly seeking information about her competition while looking online or speaking to people. Emma is playing the ________ role.
Answer:
The correct answer would be, Monitor.
Explanation:
Emma, the marketing manager, is constantly seeking information about her competition while looking online or speaking to people. Emma is playing the role of a Monitor.
Monitor's role is to reassure the professionals or institutions about the stability of the company. Monitor sets a close look at the competitors and the possible competition he can encounter, while working on making networks. Monitors make networks by talking to people and have a look at every possible beneficial detail. So the Marketing managers usually act as the monitors. This is because they can have all the information which is required to formulate the powerful marketing strategy for the company.
If a firm decided to reevaluate and reorganize the way it did business, in hopes of creating competitive advantage, by changing or decreasing jobs, the company would be using which of the following management techniques?
A. The value chain.
B. Business intelligence.
C. Business process improvement.
D. Product reevaluation
Answer: Business process improvement
Explanation: It is the process under which the managers tries to find out the grey areas in the system. In such a system the management evaluates their structures using different methods with the objective of improving accuracy and efficiency in operations.
In the given case, the company is taking various different decisions to reorganize their business structure.
Thus from the above we can conclude that the management is using business process improvement.
Manuel is training for a triathlon, a timed race that combines swimming, biking, and running.
Consider the following sentence: In order to swim for an hour, Manuel must take time away from work, where he earns $12 per hour. This is in addition to paying a $4 entrance fee for the pool.
Which basic principle of individual choice do these statements best illustrate?
1) The cost of something is what you give up to get it
2) Markets are usually a good way to organize economic activity
3) People usually exploit opportunities to make themselves better off.
4) Trade can make everyone better off
Answer:
1) The cost of something is what you give up to get it
Explanation:
Manuel is giving up earning $ 12 in his job for an hour swimming. Where he also has to pay an entrance fee of $ 4 for the pool. The real cost to him for swimming an hour is: $16.
Answer:
1) The cost of something is what you give up to get it
Explanation:
There are unlimited wants but limited resources available to satisfy these wants. Hence a scale of preference which shows these wants in order of importance is developed.
Due to the limited resources, not all wants can be satisfied hence the concept of opportunity cost which is the cost of the alternative forgone.
In this situation, the opportunity cost for swimming is the $12 that would have been earned if he had gone to work.
You're optimizing a client's Shopping campaign to drive online sales and are assessing the company's website. You determine that the site needs to be improved for mobile, and recommend that the company:
Answer: must allow shoppers to go back to their shopping cart when using their desktop computer.
Explanation: It important to use strategies that maximise the size of the mobile screens of people's phones when making a mobile website. This makes it easier for people to return to their shopping cart when they are on their desktop computer, thereby allowing them to carry on again on their desktop, to complete their purchase.
Julia Paul, an analyst at a research institute, lives very close to her office and walks to work every day. Meanwhile, her colleague, Amanda Jones, dislikes the fact that it takes her almost an hour to commute to work every day. As a result, when Julia decides to move to a suburb farther away, Amanda is very surprised. Which of the following, if true, would explain Julia's behavior?
A. Amanda earns more than Julia does.
B. Julia's office is located in the heart of the city.
C. During weekends, Julia teaches painting at an orphanage close to work.
D. Julia saves more in rent than she spends on commuting to work.
E. The city has one of the highest crime rates in the country.
Answer:
D. Julia saves more in rent than she spends on commuting to work
Explanation:
As we are rational agents, we need to optimize our resources in this exercise are money and time, in the statement Julia walks to her job but does not say anything about she dislikes commuting, but Amanda dislikes that, nevertheless when she decide move to the suburb further away must be a logical decision it means that she is going to save more in rent than she spends on commuting, it's a decision that is not influence for the Amanda behaviour and the options B and C don't have sense and there are lack of information to assume that, for this the answer is D it's a stuation when she wins
Option D provides the most plausible explanation for Julia's decision to move to a suburb farther away, suggesting that she saves more in rent than she spends on commuting thereby the longer commuting time.
Explanation:The question asks us to identify which of the statements given would best explain Julia's decision to move farther away from her workplace, a decision that seemed surprising to her colleague, Amanda.
Looking at the options, the most reasonable explanation for Julia's behavior would be option D. This statement suggests that, despite having to commute longer to work, Julia's move to the suburbs allows her to save more on rent than she spends on commuting. Therefore, her decision could be financially motivated, an explanation which resolves the confusion for Amanda.
Although some might consider option E, indicating the city's high crime rate, as a plausible motivation for Julia's decision to move, it does not directly relate to Amanda's surprise about Julia's longer commuting time. Therefore, it seems more likely that Julia's decision is driven by financial savings.
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Doc Robertson Designs is a high end fashion boutique for professional men. As part of their data mining program, they identified customers who had spent more than $1,000 on merchandise in the past and who had not made a purchase in the past 18 months. These customers were invited to an invitation-only sales event where they could purchase anything in the store for 35% off. This is an example of using data mining for _________?
Answer:
The correct answer is Customer retention.
Explanation:
Customer retention is the activity that sales organizations carry out in order to reduce the loss of customers. Successful customer retention begins with the first contact an organization has with a customer and continues throughout the life of the relationship. A company's ability to attract and retain new customers is not only related to its product or service, but also with the way in which it serves its current customers and the reputation it creates within and through the markets.
Customer retention is more than giving the customer what they expect, it is about exceeding their expectations so that they become loyal defenders of the brand. . The creation of customer loyalty puts 'value for the customer in place of maximizing profits and value for shareholders as the center of business strategy.' The key differentiation in a competitive environment is often the delivery of a high level.
These sales tactics exemplify using data mining for customer re-engagement, aiming to draw back customers who have not purchased in a while but have shown prior high-value engagement.
Doc Robertson Designs is utilizing data mining techniques to target customers who previously spent a significant amount on their products but have not made a purchase in the last 18 months. By inviting these customers to an exclusive sales event offering a discount of 35%, the store is employing data mining for customer re-engagement and retention strategies. This practice seeks to revive interest among potentially loyal customers and encourage repeat business, effectively using past purchase data to predict and influence future buying behavior.
If the workers of a firm successfully negotiate an increase in wages, which of the following is most likely to happen? a. The demand curve for the product the firm produces shifts rightward. b. The demand curve for the product the firm produces shifts leftward. c. The supply curve of the product the firm produces shifts rightward. d. The supply curve of the product the firm produces shifts leftward.
Answer:
The correct answer is option is d.
Explanation:
If the workers can get their wages increased, this will lead to an increase in the cost of production, as wages are input price for the firm which is increasing. Since the cost of production is increasing, the firm will be able to produce less quantity at the same cost.
This will cause the supply to decrease. The decrease in supply will cause the supply curve to shift to the left.
An increase in wages, without a corresponding increase in productivity, will likely cause the supply curve of the product the firm produces to shift leftward due to higher production costs.
If the workers of a firm successfully negotiate an increase in wages, the most likely outcome is that the supply curve of the product the firm produces shifts leftward. This happens because as wages increase, the cost of production for the firm also increases. Unless the higher wages are accompanied by an increase in productivity, the firm will see its costs rise without an increase in the amount of product it can sell at a given price. This reduces the quantity that the firm is willing to supply at any price, leading to a leftward shift in the supply curve. The fact that the firm is paying higher wages does not directly affect consumer demand for the product, so it is unlikely to cause a rightward or leftward shift in the demand curve.