Answer:
See answer below.
Explanation:
The maximum utility theory states that more money should be allocated to resources that offer the highest utility per dollar spent.
In order to solve this question, we will calculate the utility per dollar as follows;
Utility per dollar = marginal utility / price
For bread:
Utility per dollar = 80/1 = 80
For milk:
Utility per dollar = 70/0.8 = 87.5
From the calculations above, we can see that more utility is gotten from the purchase of milk.
Therefore she is not buying the utility-maximizing combination of bread and milk, and more money should be spent on the purchase of milk.
When each employee is assessed in terms of how well he or she performs on a set of performance dimensions based on some predetermined standards of performance, the firm is using a(n) _______. paired distribution approach ranking approach absolute approach forced approach
Answer:
absolute approach
Explanation:
The absolute approach of appraising an employee is one that uses comparism of the employee performance against established standards of the organisation.
Employees are not compared to other employees, evaluation is done on an individual basis.
This is a very objective method of appraisal because the tendency to favour one employee's performance over another through collective performance is not done.
Rather appraisal measures how each employee performs against the set standard.
In general, markets are efficient when:
prices respond quickly to new information.
each successive trade is made at a price close to the preceding price.
they can absorb large amounts of securities or assets without changing the price significantly.
All of the above
Answer:
All of the above.
Explanation:
Market efficiency can be defined as the degree to which market prices reflect all the available and relevant information. A market that is truly efficient eliminates the possibility of beating the market, because any information that is available to any particular trader is already incorporated into the market price.
In summary therefore, market efficiency refers to the ability of markets to incorporate information that will provide the maximum possible amount of opportunities available to purchasers and sellers of securities to effect transactions without increasing subsequent transaction costs.
The _____ is a law passed in 1914 that seeks to prevent practices that may cause injury to customers, that cannot be reasonably avoided by customers, and that cannot be justified by other outcomes that may benefit the consumer or the idea of free competition.
Answer:
The Federal Trade Commission Act is a law passed in 1914.
Break-even analysis for a service company Sprint Corporation (S) is one of the largest digital wireless service providers in the United States. In a recent year, it had approximately 60 million direct subscribers (accounts) that generated revenue of $33,347 million. Costs and expenses for the year were as follows (in millions):
Cost of revenue $14,958
Selling, general, and administrative expenses 7,994
Depreciation and amortization 8,150
Assume that 70% of the cost revenue and 30% of the selling, general, and administratiev expenses are variable to the number of direct subscriber (accounts).
A. What is Sprint Corporations's break-even number of accounts, using the data and assumption given?
B. How much revenue per account would be sufficient for Sprint Corporation to break even, if the number of accounts remained constant?
To calculate Sprint's break-even number of accounts, we separate fixed and variable costs, calculate the variable cost per account, and then find the break-even point using the formula for break-even quantity. For the break-even revenue per account, we divide total fixed costs by the current number of accounts and add the variable cost per account to determine the necessary revenue per account.
Break-even Analysis for Sprint Corporation
To calculate Sprint Corporation's break-even number of accounts, we must first distinguish between the company's fixed and variable costs. Given that 70% of the cost of revenue and 30% of the selling, general, and administrative expenses are variable, we can compute the fixed costs as:
Fixed cost of revenue = 30% of $14,958 million
Fixed selling, general, and administrative expenses = 70% of $7,994 million
The total fixed costs would be the sum of these two figures plus the full amount of the depreciation and amortization, as no variable portion is mentioned for the latter.
Once fixed costs are determined, the variable cost per account can be calculated by taking the variable portion of the cost of revenue and variable portion of selling, general, and administrative expenses and dividing by the number of accounts.
To find the break-even number of accounts, we then rearrange the formula: Break-even Quantity = Fixed Costs / (Price per account - Variable cost per account).
For part B, the break-even revenue per account, if the number of accounts remains constant, can be found by rearranging the formula as: Price per account = (Fixed Costs / Number of Accounts) + Variable Cost per Account. We would divide the total fixed costs by the current number of accounts and add the variable cost per account to get the revenue required per account to break even.
It is essential to remember that the contribution margin plays a crucial role in this calculation, representing the amount by which the price per account exceeds the variable costs per account.
If the domestic interest rate in a small open economy with perfect capital mobility is higher than the world interest rate, then ______ would drive the domestic interest rate back to the level of the world interest rate. the government capital inflow capital outflow a decline in domestic saving
Answer: capital inflow
Explanation:
Capital flows is the movement of money for investment purpose, trade or business production, and it includes the flow of capital in corporations in the form of investment capital and capital spending on research development and operations.
On a larger scale, the government directs capital flows from tax into operations and programs and through trade with other countries and currencies. When the domestic interest rate in an open economy which is small with perfect capital mobility is greater than the world interest rate, the domestic interest rate would be driven back to the world interest level by the capital inflow.
When a customer is searching for their preferred or familiar product brand in a store and cannot find it, they will often purchase an alternate brand that they are aware of due to .
Answer:
Brand recognition
Explanation:
Brand recognition is when a customer is able to recognize a brand over other brands. Customers are able to recognize or identity the products either through the designs or special features .
Brand recognition that are properly done gives the product an edge over others. The ideal is to quickly make buyers or customers recognize the product without stress.
Example of brand recognition is a company's product that is easily identified either through colour or designs.
When a firm's longminus−run average cost curve is horizontal for a range of output, then in that range production displays?
Answer:
constant returns to scale
Explanation:
Constant returns to scale describes a scenario when long run returns as the scale of production increases, when all input levels including physical capital usage are variable.
TEFCO, a computer processor manufacturing company, recently adopted a new fabrication process to manufacture microprocessors. The microprocessors made using this new process have higher computing power and clock speed than other processors available in the market. Although the new process has made TEFCO the industry leader, there is a threat that competitors will be able to match this feat in the near future. It is evident that TEFCO has achieved _____.
Answer:
first-mover advantage
Explanation:
First-mover advantage exists when making the initial move into a market allows a firm to establish a dominant position that other firms may struggle to overcome.
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $154,000. The machine's useful life is estimated to be 5 years, or 370,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 59,200 units of product. Determine the machines' second year depreciation under the straight-line method
Answer:
Using the straight-line method, depreciation expense for the second year would be: $29,600
Explanation:
Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life
Wickland Company
Cost of machine $154,000
Residual value of $6,000
Useful Life = 5 years
Formula
Depreciation Straight Line Method= Cost - Salvage Value/ Useful Life
Working:
Depreciation Straight Line Method= $154,000 -$6,000/5
Depreciation Straight Line Method= 148,000 /5
Depreciation Straight Line Method=$ 29,600
Using the straight-line method, depreciation expense for the second year would be: $29,600
The straight line depreciation method assigns equal depreciation to the machinery. So the depreciation for the five years would be the same amounting to $ 29,600 every year.
To determine the machine's second-year depreciation under the straight-line method, divide the difference between the cost and salvage value by the useful life.
Explanation:To determine the machine's second-year depreciation under the straight-line method, we need to calculate the annual depreciation expense. The formula for straight-line depreciation is:
Depreciation expense = (Cost - Salvage value) / Useful life
In this case, the cost of the machine is $154,000, the salvage value is $6,000, and the useful life is 5 years. Plugging these values into the formula:
Depreciation expense = ($154,000 - $6,000) / 5 = $29,600
Therefore, the machine's second-year depreciation is $29,600.
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Ultimate Company is a defendant in a lawsuit alleging damages of $3 billion. The litigation is expected to continue for several years, and no reasonable estimate can be made at this time of Ultimate Company's ultimate financial responsibility. This situation is an example of:
A. Off-balance-sheet financing.
B. A loss contingency which should be disclosed in notes to Ultimate Company's financial statements.
C. An estimated liability which must appear in Ultimate Company's balance sheet.
D. A loss in purchasing power caused by inflation.
Answer:
Option B.
Explanation:
A loss contingency refers to a charge to expense for what is considered to be a probable future event, such as an adverse outcome of a lawsuit. A loss contingency usually gives the person who is reading an organization's financial statements an early warning of a payment which is impending, and which is related to a likely obligation.
In the scenario presented above, we can see that Ultimate Company is involved in a lawsuit and might be expected to pay $3 billion, this reflects the situation of a loss contingency which should be disclosed in notes to Ultimate Company's financial statements.
Answer: B. A loss contingency which should be disclosed in notes to Ultimate Company's financial statements
Explanation: Ultimate company with an allege lawsuit demage of $3billion and the litigation will continue for several years, this situation is an example of "a loss contingency which should be disclosed in notes to Ultimate Company's financial statements".
A loss contingency means charge to expense for a possible future event such as an outcome of a lawsuit . A loss contingency will give the reader of a financial statements of a firm, early warnings of an impending payments of obligation.
The current price of a non- dividend- paying stock is $30. Over the next six months it is expected to rise to $36 or fall to $26. Assume the risk- free rate is zero. An investor sells call options with a strike price of $32. Which of the following hedges the position? A. Buy 0.6 shares for each call option sold B. Buy 0.4 shares for each call option sold C. Short 0.6 shares for each call option sold D. Short 0.4 shares for each call option sold.
Answer:
option A
Explanation:
Hedge ratio = (36 - 32)/(32 - 26)
= 4:6
Thus investor needs to buy 0.6 shares of this stock in order to hedge the options sold.
Events that occur after the December 31, 2021 balance sheet date, but before the balance sheet is issued, and provide additional evidence about conditions that existed at the balance sheet date and affect the realizability of accounts receivable should be a. discussed only in the MD&A (Management's Discussion and Analysis) section of the
annual report.
b. disclosed only in the Notes to the Financial Statements.c.used to record an adjustment to Bad Debt Expense for the year ending December 31, 2021. d.used to record an adjustment directly to the Retained Earnings account.
Answer:
C) used to record an adjustment to Bad Debt Expense for the year ending December 31, 2021.
Explanation:
Retained earnings account cannot be adjusted after December 31 (or whenever the balance must be done), but bad debt expense can be adjusted, specially if it increases.
Generally a company estimates it bad debt expense, the different methods used to estimate bad debts (allowance, percentage or aging methods) are used more commonly than the direct write-off method. But as every estimate, they can be close to reality or not.
E.g. some companies might have a very important client that represents a large portion of their credit sales, and if suddenly that large client that had always paid on time defaults, that event must be included in the balance sheet since the bad debts expense will increase significantly.
The senior leadership and board of directors are meeting to determine the key priorities for community Hospital for the year ahead. during this time they also used a SWOT analysis to validate the mission. The resulting document of this session is called?
Answer:
lol umm i knew it but then forgot
Explanation:
Why is a company's sales budget developed before the production budget? a : the company needs to find ways to sell as many units as it can maximally produce. b : the company only wants to produce as many units as it expects to sell. c : the sales budget is more important than the production budget, so it receives a larger portion of the company's financial reserves. d : the company's sales managers have more control over the company's finances than the production managers?
Answer:
B
Explanation:
the company only wants to produce as many units as it expects to sell.
The sales budget is first developed before the production budget because the sales budget can forecast earnings. What the sales budget does is to calculate the amount of income it will get from sales activities over the calculated time period. The production budget will then use this data from the company's sales budget to make calculations on the number of products the company would have to produce over the period of time.
In a production application involving a fixed setup cost and a variable cost, the use of __________ makes including the setup cost possible in a production model. Group of answer choices noninteger constraints location variables binary variables objective function coefficients
Answer:
The correct answer is binary variables.
Explanation:
A binary variable is one that can only have two possible values. They generally fulfill two essential characteristics:
1. They are made up of two exhausting values, which indicates that there is no other possibility of response. For example, a person is female or male.
2. Both values of the variable are exclusive, that is, it is not possible that both responses can be given, only one. In the same example above, a customer cannot be a woman and a man at the same time.
The binary variables would allow for only 2 values to be given and thus, will be suited for production application involving a fixed setup cost and a variable cost
A binary variable is one that can only have two possible values and fulfill two essential characteristics:
The binary variable made up of two exhausting values that indicates that there is no other possibility of response. The values given in the binary variable are exclusive.
Hence, the Option C is correct.
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"IFRS uses a fair value test to measure impairment loss. However, IFRS does not use the first-stage recoverability test under GAAP - comparing the undiscounted cash flow to the carrying amount. As a result, the IFRS test is"
Answer:
As a result, the IFRS test is more strict than U.S. GAAP.
b) More stringent than GAAP's test because it directly measures impairment loss using fair value, which may result in recognizing impairment earlier.
International Financial Reporting Standards (IFRS) employ a fair value test to measure impairment loss, directly using market-based or model-based estimates. By contrast, Generally Accepted Accounting Principles (GAAP) initially use a recoverability test comparing undiscounted cash flows to the carrying amount before assessing impairment.
This makes the IFRS impairment test more stringent than the GAAP test because IFRS potentially recognizes impairment losses earlier, directly comparing the fair value to the carrying amount without preliminary steps.
Therefore, the correct answer is:
b. More stringent than GAAP's test because it directly measures impairment loss using fair value, which may result in recognizing impairment earlier.While GAAP's test takes an additional step to filter results which might delay recognition, IFRS's direct approach aligns with more timely and market-reflective adjustments.
Complete Question:
"IFRS uses a fair value test to measure impairment loss. However, IFRS does not use the first-stage recoverability test under GAAP - comparing the undiscounted cash flow to the carrying amount. As a result, the IFRS test is":
a. Less stringent than GAAP's test because it does not consider the undiscounted cash flow as a preliminary step.
b. More stringent than GAAP's test because it directly measures impairment loss using fair value, which may result in recognizing impairment earlier.
c. Less stringent than GAAP's test because it uses fair value, which can be subjectively determined.
d. The same in terms of stringency as GAAP's test because both ultimately measure impairment loss.
Sara contracts to work exclusively for Thermal Company during July for $5,000. On June 30, Thermal cancels the contract. Sara finds a similar job for the month of July but earns only $3,000. Sara files a suit against Thermal. As compensatory damages, Sara can recover
a. $0.
b. $1,000.
c. $3,000.
d. $2,000.
Answer:
Sarah can recover $2000 in damages.
Explanation:
Since Sarah found a job where she could make the &3000.00 She can only recover the difference. ( 5000 - 3000 = 2000.)
After 15 years with Ford Motor Corporation, one summer Cameron loses his job. His boss explained that his position has been downsized after the technological advances in automobile production. Ford no longer requires the skill that Cameron had.Cameron is best considered A) not in the labor force. C) frictionally unemployed. B) structurally unemployed. D) cyclically unemployed.
Answer:
B) structurally unemployed.
Explanation:
Structurally unemployed: It is a kind of unemployment that occur due to mismatch between skill required for job available and skill possessed by the individual or unemployed population. This is caused by technological advancement or higher competition in the market. It has long-lasting effect on economy and required fundamental changes to overcome the structural unemployment.
Actions required to overcome structurally unemployed:
Education and training.Relocation of subsidies.In the given case, Cameron has lost his job due to technological advancement in automobile production, which is a case of structural unemployment.
In the U.S. government's 1998 suit against the Microsoft Corporation, a central issue was whether Microsoft should be allowed to integrate its Internet browser into its Windows operating system. Microsoft responded that:_____
a. this integration of products is an example of tying, and the U.S. Supreme Court has consistently ruled that tying is a perfectly acceptable and legal business practice.
b. this integration of products is an example of resale price maintenance, and the U.S. Supreme Court has consistently ruled that fair trade is a perfectly acceptable and legal business practice
c. putting new features into old products is a natural part of technological practice.
d. it would discontinue this integration of products, provided a speedy resolution of the government's case could be reached
Answer: Microsoft responded that
this integration of products is an example of tying, and the U.S. Supreme Court has consistently ruled that tying is a perfectly acceptable and legal business practice.
Explanation: The suit accused Microsoft of illegally protecting its operating-system monopoly and seeking a new monopoly for its own browser, Internet Explorer. The fear was that Microsoft would kill Netscape, monopolize the browser market and use that point of control to dominate the coming age of the web.
Despite the creative editing of video, facts, and emails, Microsoft lost the case. The presiding judge, Thomas Penfield Jackson, ruled that Microsoft violated parts of the Sherman Antitrust Act, which was established in 1890 to outlaw monopolies and cartels.
Several corn farmers in Iowa meet with their friends each week for breakfast. They talk about their families and about the weather. But soon they engage in more serious discussions about the future demand for corn, the latest prices being offered for their crop, and the cost of their seeds, fertilizer, and machinery.
Which characteristic of a purely competitive market BEST fits the scene described above?
A. Many sellers participate in the market.
B. Sellers offer identical products.
C. Buyers and sellers are well informed about products.
D. Sellers are able to enter and exit the market easily.
Answer:
Option C
Explanation:
The given options are all related to the competitive market structure however the given case most closely relates to the well informed buyer and seller characteristic of the perfectly or pure competitive market.
Under this characteristic, the buyers have the full knowledge and gains maximum profit by burning the product. Similarly seller has the complete knowledge of how to maximize the utility by selling the product.
Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $236,000 for the lot plus $131,000 for the old building. The company pays $26,500 to tear down the old building and $39,174 to fill and level the lot. It also pays a total of $1,786,153 in construction costs—this amount consists of $1,680,100 for the new building and $106,053 for lighting and paving a parking area next to the building.
Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.
Answer:
Dr Lot Asset $432,674
Dr Lot Improvement $106,053
Dr New Building $1,680,100
Cr Cash Asset $2,218,827
Explanation:
Cala must record the land cost, the improvement in the land and the cost of new building.
The actual cost of land is calculated as under:
Purchase price of Land $236,000
Purchase Price of Old Building $131,000
Building Tear down Cost $26,500
Filling and leveling cost $39,174
Total Cost of Land $432,674
The old building cost and building tear down cost are the cost that are incurred to bring the asset to ready for use and according to the International Accounting Standard IAS 16 Property, Plant and Equipment, the cost incurred to bring the asset to ready for use position must be capitalized.
Now
The cost of improvement of the lot includes the expenditure of $106,053 for the lightning and paving of a parking area.
The cost of the new building must be capitalized as a new building which is $1,680,100.
So we have paid for preparing three assets, one is the lot, second one is the improvement of the lot and the third one is the new building. So the double entry would be:
Dr Lot Asset $432,674
Dr Lot Improvement $106,053
Dr New Building $1,680,100
Cr Cash Asset $2,218,827
Ford Motor Company has always attracted and nurtured capable managers, but it has failed to do the same for leaders. Ford is embarking on a sweeping attempt to mass-manufacture leaders. It wants to build an army of "warrior-entrepreneurs." Ford's "warrior-entrepreneurs" will be expected to ____.
Answer:
E) do all of these things
A) take a long-term perspective B) inspire and motivate employees to embrace change C) realize that results are more important than processes D) be architects rather than buildersExplanation:
The concept of warrior entrepreneur is more than just an ordinary entrepreneur. A warrior entrepreneur is supposed to be a leader that can operate in the business environment with a sense of commitment and belonging to the company. At the same time he/she must lead and guide the company's employees into embracing a new organization and a new culture. Warrior entrepreneurs are movers, and they must be able to move the organization forward.
Credit sales during 2020 1,200,000 Accounts receivable deemed worthless and written off during 2020 27,000 As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $16,000 is needed at December 31, 2020. What amount should Murphy record as "bad debt expense" for the year ended December 31, 2020? $16,000 a.$13,000 b.$19,000 c.$40,000d.$16,000
Answer:
$41,000 (not given in the options)
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
The amount of bad debt to be recorded is the sum of the amount written off and the amount to be allowed as allowance for doubtful debt
= $27000 + $16000
= $41,000
Suppose the economy is currently operating at potential output; an expansionary gap may be caused by each of the following except: a positive demand shock. a positive inflation shock. an increase in government spending. an increase in the inflation rate.
Answer:
an increase in the inflation rate
Explanation:
Inflation rate: In economics, the term "inflation" is described as a sustained or a constant increase in the nominal or the general price levels of specific services and goods in a particular economy over a time period. However, the common measure or determinant of inflation is considered as the "inflation rate" i.e, the "annualized percentage change" in a common price index, that generally comes out to be the consumer's price index over a specific time period.
Arbitragers applying Covered Interest Arbitrage drive the international currency and money markets toward the equilibrium described by: Select one: a. the nominal effective exchange rate index. b. the interest rate parity. c. the purchasing power parity. d. the effective exchange rate index.
Answer:
The correct answer is letter "B": the interest rate parity.
Explanation:
The economic theory of Interest Rate Parity (IRP) states that the difference between interest rates in the two countries is equal to the difference between the forward rate and the spot rate in both countries. This equality does not always exist and allows traders to arbitrate positions to earn riskless returns. This approach is mostly used by Forex traders.
Social surplus is maximized when all buyers with the reservations values ___________ than the market price are actually making purchases and all sellers with the reservation values ___________ than the market price are selling the products.
Answer:
highest-value; lowest-cost
Explanation:
Social surplus can be define as the rate, amount of value or utility(which are welfare) a society has gotten from goods and services consumption. It is not not like money or resource.
it is also referred as economic surplus. it is the summation of the sum of consumer surplus and producer surplus. The economic surplus is referred to as welfare package in full
When there is a change in government spending or taxes to affect aggregate economic activity, this is referred to as A. political posturing. B. monetary policy. C. fiscal policy. D. aggregate policy. When the money supply is changed to affect aggregate economic activity, this is referred to as A. political posturing. B. aggregate policy. C. fiscal policy. D. monetary policy.
Answer:
fiscal policy.
Monetary policy
Explanation:
Fiscal policy is using government spending and tax to influence the economy.
Monetary policy are policies enacted by the Central bank to influence the economy using interest rate and money supply.
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In 2012, the city of Miketown collected $250,000 in taxes and spent $350,000. In 2012, the city of Miketown had a A) budget surplus of $100,000. B) budget surplus of 57%. C) budget deficit of $100,000. D) budget deficit of $200,000.
Answer:
Option C is correct
C) budget deficit of $100,000.
Explanation:
A budget deficit or surplus is the difference between the estimated expenditures and revenue.
A budget surplus occurs where the estimated total revenue is greater that the estimated total expenditure.
On the other hand, it is deficit where the estimated revenue is less than the estimated expenditures
For City of Miketown, the budget deficit =
250,000 - 350,000
=$(100,000)
JED Corp., an e-commerce company, has created a network that supports its supply chain management system. The network provides the company's suppliers with secure access to critical trading partner information and facilitates trading partner automation. In this scenario, the network created by JED Corp. is an example of a(n) _____.
The question is incomplete, it lacks options.
A) extranet
B) corporate portal
C) intranet
D) executive information system
Answer:
Extranet.
Explanation:
An extranet can be defined as a private network that is used for information sharing. An extranet is a private network which is created by a company to enable customers and suppliers to get specific information about the company but preventing them access to other private and sensitive information.
Extranet makes it very easy to share information with potential customers and various shareholders. Extranet also improves customer service by providing them with various information to solve their questions.
Final answer:
The network created by JED Corp. is an example of an e-commerce network that facilitates trading partner automation and secure access to critical information for suppliers.
Explanation:
The network created by JED Corp. is an example of a(n) e-commerce network. An e-commerce network is a digital infrastructure that allows businesses to connect and exchange information with their trading partners. In this case, JED Corp.'s network provides secure access to critical trading partner information for its suppliers, enabling automation and efficient supply chain management.
our company, Johnson Farm Products, has decided to expand its traditional business serving farm owners in order to include home gardeners in its customer base. This change is not met with enthusiasm by the sales personnel who have had good long-term relationships with area farmers. You know that the change will be difficult if you cannot overcome the resistance of the sales personnel and obtain their cooperation. You have brought in the local extension agent to explain demographics and the changing nature of the area in which you live. The method for overcoming resistance that you have chosen is ________. communication negotiation coercion participation manipulation and cooptation
Answer:
Communication is the method selected.
Explanation:
Communication is an educative tool and communicating the idea of a change will help reduce employee resistance on two levels. The first is that it will curb the effects of misinformation and poor communication: If employees are brought up to speed on the full facts, that will clear up misunderstandings and resistance should subside. The second advantage of communication here is that it can help "sell" the need for change by packaging it properly.