The producer surplus in Economics equals the amount received by sellers minus the cost to sellers. It demonstrates the monetary gain by sellers for being able to sell a product at a price higher than the minimum price they would be willing to sell at.
Explanation:The correct answer to this question is: b. Amount received by sellers - Costs of sellers. This is known as the producer surplus. In economics, producer surplus represents the monetary gain obtained by producers because they are able to sell at a market price that is higher than the lowest price at which they would be willing to sell their goods. It is the difference between the price that producers actually receive for a product and the minimum price at which they would be willing to sell it.
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Producer surplus is the extra benefit received by sellers in a market, calculated by subtracting the costs of sellers from the amount received by sellers.
Explanation:. It represents the extra benefit received by the sellers in a market. To calculate producer surplus, you subtract the costs of sellers from the amount received by sellers. So the correct answer is a. Value to buyers - Costs of sellers. For example, if producers are willing to sell a product for $50 and the market equilibrium price is $40, the producer surplus would be $10.
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The HR department wants to ensure that the performance appraisal process is fair. When managers at Hautelook rate their subordinates, they need to be careful not to have their rating of a subordinate on one trait bias the rating of that person on other traits. This rater error is called ________.
Answer:
The halo effect
Explanation:
The halo effect is a type of cognitive bias in which our overall impression of a person influences how we feel and think about their character.
Answer: The rater error is called the halo effect.
Explanation: The halo effect is a cognitive bias which occurs when person A's initial positive judgment about person B unconsciously influences the perception that person A has about person B as a whole.
An example of this can be seen when a person initially thinks that someone is nice, therefore that person is intelligent.
Another example is the positive bias we have towards celebrities, based on the first impression we have about them.
Therefore, in situation given in the question above, Managers need to be careful in order that they do not rate their subordinates based on one trait only, as this would lead to the error called the Halo Effect.
According to the United Nations' stages of economic development for classifying countries with respect to levels of industrialization, which category does an industrialized country with high per capita income such as the U.S. fall under?
Answer:
More-deceloped country
Explanation:
Industrialized countries with high per capita incomes, such as Canada, England, France, Germany, Japan, and the United States fall into the category of more-developed country
Portfolio tests refer to Multiple Choice presenting a panel of consumers with an ad and asking for their reactions concerning the ad's effectiveness, appeal, etc. placing a test ad in a collection with several other ads, asking consumers to read through them, and then asking them for their impressions of the ads. presenting a panel of consumers with an ad for a limited period of time, then removing the ad and asking the respondents to recall as much pertinent information as possible. presenting consumers with a sample of a product and several different advertisements for the product, then asking them to select the one they think is most effective and explain why. using electronic devices to measure viewer response or feelings after viewing an advertisement.
Answer:
placing a test ad in a collection with several other ads, asking consumers to read through them, and then asking them for their impressions of the ads.
Explanation:
Portfolio tests are used to pretest an advert having looked through a portfolio of several others of the same advert. Consumers are selected to test the portfolio, in which they are required to recall all they can remember about it.
Basically there are 3 types of portfolios.
1.Working portfolio.
2.Display portfolio.
3.Assesment portfolio.
A portfolio test is adopted so as to determine the merit of other alternative ads.
Portfolio tests in business are a method used in marketing research to assess an advertisement's effectiveness and appeal to consumers. This can be done by presenting the ad alongside other ads and gauging consumers' impressions. In psychology, portfolio tests also refer to a type of assessment designed to create a clinical profile of an individual.
Explanation:Portfolio tests refer to a method used in marketing research where a test ad is placed alongside various other ads and consumers are asked to read through them. After this, they are asked for their impressions of the ads. These tests help in understanding consumer reaction, the ad's effectiveness, and recall value. Examples of such tests include presenting a panel of consumers with an ad for a limited period, then removing the ad and asking them to recall as much information as possible, or presenting consumers with a sample of a product and several different advertisements for the product, asking them to select the one they think is most effective and explaining why.
The term 'portfolio tests' can also refer to a form of assessment where an individual is asked a series of questions, typically true/false, which are designed to create a clinical profile of the individual for psychological assessment. These portfolio tests are sometimes known as projective tests, which use ambiguous stimuli to examine an individual's unconscious fears, desires, and challenges. The responses from such tests provide an insight into the personality and thought process of the respondent.
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The charts that are helpful in making comparisons between categorical variables are a. bar charts and column charts. b. scatter charts and line charts. c. bar charts and scatter charts. d. column charts and line charts.
Bar charts and column charts are two types of charts that can be used to compare category values.
Option a. is correct.
What are categorical variables?A categorical variable itself has a finite number of possible outcomes, allocating each human or other unit or observation to a specific group or nominal group based on some qualitative attribute.
Bar charts and column charts are two types of charts that can be used to compare category values.
Option a. is correct.
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Carlos took seven years to pay off his loan by making identical quarterly payments. The loan had a principal of $22,375 and 5.49% interest, compounded quarterly. Carlos paid a total of $28,821.67. How much did Carlos pay in service charges
Answer:
$1,721.274
Explanation:
The amount paid as service charge is the difference between the total amount paid by Carlos on the loan and the total installment due.
Service charge = Amount paid - Total installment payment
The quarterly installment payment from the loan can be determined as follows:
Quarterly equal installment = Loan amount/Annuity factor
Quarterly interest rate = 5.49%/4 =1.3725%
Annuity factor = 1- (1+r)^(-n)/r
r =1.3725%,
n = 4×7 there are four quarters in a year
Annuity factor = (1- (1.013725)^(-4×7) )/0.01327)
= 23.1177
Quarterly installment payment interest
= 22,375/23.1177
= 967.87
Total amount paid in installment
= 967.871× 7 × 4
= 27,100.39518
Service charge = Amount paid - Total installment payment
$28,821.67 - 27,100.395
=$1721.274
Property-tax revenues for the county were reported at $770,000 on its governmental funds statement, but property-tax revenues on the county's government-wide statement of activities were reported at $800,000. Why did this difference arise?
This Question is not complete
Complete Question:
Property tax revenues for Rose County were reported at $770,000 on its governmental funds statement, but property tax revenues for governmental activities on the County's government-wide statement of activities were reported at $800,000. This difference likely arose because:
A) an accounting error was made; property tax revenues should be reflected at the same amount on both statements
B) some revenues were deferred on the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balance because the availability criterion was not met; however, those revenues should be recognized under the accrual basis on the government-wide statements.
C) property tax revenues are recognized in the period the bills are sent out for government-wide reporting but they are recognized when the cash is collected for fund reporting
D) when reporting on a fund basis, an allowance for uncollectibles reduces revenues; this allowance is not necessary for government-wide reporting
E) all of the above are likely explanations for the difference
Answer:
B) some revenues were deferred on the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balance because the availability criterion was not met; however, those revenues should be recognized under the accrual basis on the government-wide statements.
Explanation:
Government fund statements are statements of accounts for a particular fund.
Government-wide statements show us the statement of accounts for all funds used by the government. These funds can be funds used for government related activities or business related activities carried out by the government. The position of a government financially is always shown on a government wide statements.
Suppose the government misjudges the natural rate of unemployment to be much lower than it actually is, and thus undertakes expansionary fiscal and monetary policies to try to achieve the lower rate. These policies might at first succeed because
1. in the long run, as aggregate demand increases, unemployment is reduced.
2. in the short run, as aggregate demand increases, unemployment is reduced.
3. in the short run, this action will decrease aggregate demand and unemployment.
4. in the long run, as aggregate demand decreases, unemployment is reduced
Answer:
2. in the short run, as aggregate demand increases, unemployment is reduced.
Explanation:
The government misjudging the natural rate of unemployment to be much lower than it actually is, and thus undertaking expansionary fiscal and monetary policies to try to achieve the lower rate. These policies might at first succeed because in the short run, as aggregate demand increases, unemployment is reduced due to the expansionary policies.
Answer:
The answer is 2. in the short run, as aggregate demand increases, unemployment is reduced
Explanation:
As aggregate demand increases, more workers will be hired by firms in order to produce more output to meet the rising demand, and unemployment will decrease.
_________ implies that there are clear links between the performance standards for a particular job and organizational objectives, and between the critical job elements identified through a job analysis and the dimensions to be rated on an appraisal form.
Answer:
Relevance
Explanation:
Relevance implies that there are clear links between the performance standards for a particular job and organizational objectives, and between the critical job elements identified through a job analysis and the dimensions to be rated on an appraisal form.
Options:
A. acceptability.
B. reliability.
C. relevance.
D. sensitivity
Answer:
C) relevance.
Explanation:
In management, relevance refers to how important an event is in the decision making processes. Relevant events must be meaningful and useful, e.g. if you want to evaluate job performance, you must pay more attention to the relevant tasks that follow the organization's objectives and standards. You must focus on the events and tasks that are critical for the job performance and analysis.
E.g. an employee is always arrives early to work but generally cannot complete his tasks, specially the more complex ones. When you compare him/her to another employee that gets to work just on time, sometimes a little late, but is able to complete all his/her tasks and always performs efficiently. The relevant events here are who works more efficiently, not who gets to work earlier. Being late sometimes is a problem, but not being able to finish your work is a much bigger problem.
Randy and john had known each other for many years. they had become best friends in college, where they both majored in accounting. after graduation, randy took over the family business from his father. his family had been in the grocery business for several generations. when john had difficulty finding a job, randy offered him a job in the family store. john proved to be a very capable employee. as john demonstrated his ability, randy began delegating more and more responsibility to him. after a period of time, john was doing all of the general accounting and authorization functions for checks, cash, inventories, documents, records, and bank reconciliations. (1) john was trusted completely and handled all financial functions. no one checked his work. randy decided to expand the business and opened several new stores. (2) randy was always handling the most urgent problem; crisis management is what his college professors had termed it. john
Explanation:
This scenario is one that is typical in some business situations, where one earns more responsibility in the end as a result of an individual's ability to handle lower task effectively.
The fact that Randy was always handling the most urgent problem; termed crisis management Indicates his leadership position in the business.
Tasks: Read the article "Jet Propulsion LaboratoryPreview the document", and answer the questions below. Please submit your answers by March 29st.Questions:1. Should Gentry Lee recommend launch or delay for the MBE mission? What are the most important factors to consider in this decision2. Identify the principal risk-management processes used in the MBE project. What role does each play, and what is critical for its success?3. Consider the role of JPL’s senior systems engineer, Gentry Lee. What challenges did he face when implementing the risk management process at JPL? What characteristics seem critical for his success?4. Do the new risk management processes match JPL’s strategy and culture?Please do not share the case document with others.
The Mars Climate Orbiter crash was due to a unit conversion error and could have been avoided with proper protocols. The Galileo mission overcame technical issues to provide vital data on Jupiter. Lightweight, protective materials and designs are recommended for satellites to minimize meteor impact dangers, and space exploration has yielded significant knowledge about the Moon, Mars, potential for life, and the use of biomarkers.
The Mars Climate Orbiter crash was caused by a unit conversion error, where space navigation data was erroneously communicated in non-SI units of measurement. This could have been avoided by a strict adherence to using the metric system for all calculations and better communication and verification protocols between different teams working on the mission. The Mars Orbiter was sent to Mars to study the planet's climate, atmosphere, and surface changes and to act as a communications relay for future missions. Space exploration is crucial because it helps to expand human knowledge, fosters technological advancements, and stimulates global cooperation while inspiring future generations.In the case of the Galileo mission, several technical problems were encountered including a high-gain antenna that failed to fully deploy. Engineers improvised with the low-gain antenna and altered data transmission methods to overcome this issue. The mission greatly enhanced our understanding of Jupiter and its moons, informing us of the existence of subsurface oceans on Europa and providing insight into the large gas planet's atmosphere and magnetosphere.Advising NASA on designing satellites, it is recommended to use materials which provide protection while being lightweight, such as multi-layer insulation or Whipple shields, and introducing impact-resistant technologies. Implementing maneuverability to dodge larger meteoroids where possible, and opting for modular designs for quick repairs, would also be beneficial.From lunar exploration, we have learned about the Moon's composition and structure, such as its varying crustal thicknesses and the presence of water ice in shadowed regions near the poles. Regarding Mars, we have revealed the complexity of its environment, with evidence of past water flow and potential habitability. In the solar system, places like Europa and Enceladus are considered potentially habitable due to their subsurface oceans. Biomarkers are a critical tool in searching for life beyond Earth, offering chemical signatures that could indicate the presence of life.Research has found that instigating and upholding task-oriented conflicts in the decision-making process can be a strategy to counteract biased information seeking. One conflict-stimulating procedure involves assigning a counterargument role to a group member. When consensus on a particular decision solution has emerged, the contrary employee tries to identify all weaknesses inherent in it. The group must then react to this criticism, and see if the arguments put forth can be invalidated. This procedure is an example of what type of dissent
Answer:
c. Devil's advocate procedure
Explanation:
Based on the scenario being described within the question it can be said that this procedure is an example of the devil's advocacy procedure. This is a technique where an individual within the specific group is allowed to become the critic in the proposed decision. This individual is in charge of pointing out all the weak points and going against the decision itself.
The procedure in question refers to the use of a 'counterclaim' or dissenting opinion in group decision making to encourage task-oriented conflicts. This approach helps to counteract potentially biased decision-making by identifying weaknesses in agreed solutions, stimulating critical thinking and overall leading to stronger decisions.
Explanation:The procedure under discussion denotes the process of encouraging a form of dissent known as a counterclaim or dissenting opinion within the group's decision-making activities. This approach is often utilized in business and organizational settings to challenge group consensus and potentially biased decision-making.
For instance, when a shared consensus on a specific decision solution emerges within a group, one member is assigned the role of a counterargument-creator. This individual's task is to discover the weaknesses associated with the agreed solution, thereby initiating a task-oriented conflict. This conflict is intended to stimulate critical thinking and evaluation within the group, encouraging them to examine if the counterarguments made can be invalidated or strongly challenged.
Through this procedure, biases in information seeking can be counteracted. In the long run, it leads to more robust, tested, and evaluated decisions. The scope of this method extends to various disciplines such as business and engineering where uncertainties regarding what actions or decisions are best often occur.
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At the beginning of the year, Camille purchased 300 shares of stock at $25.50 per share, then sold them at the end of the year for $28.70 per share. She paid a 1% commission on both the purchase and sale of the stock. Current dividends per share of $2.00 are in effect. Determine the dividends.
Answer:$600
Explanation:
Dividend = Dividend per share x Number of shares
= 2 x 300
=600
Dividend received by Camille is $600
Dividend is the excess profit which a company distributes it to the shareholders after meeting all the company expenses. Dividends can be paid quarterly, monthly or annually. Dividend is paid for each share held by the shareholder. The dividend declared by the company is also per share basis. The dividend earned by a person is based on the number of shares held by shareholder.
Final answer:
The total dividends received from owning 300 shares of stock with a dividend of $2.00 per share is $600.
Explanation:
A student purchased 300 shares of stock at a price of $25.50 per share and sold them later for $28.70 per share. Current dividends are $2.00 per share. Since dividends are distributed based on the number of shares owned, we need to calculate the total dividend payout for 300 shares.
To determine the dividends, we simply multiply the number of shares by the dividend per share:
Dividends = Number of shares × Dividend per share
Dividends = 300 shares × $2.00 per share
Dividends = $600
The total amount of dividends received from the stock is $600.
When writing a persuasive claim message to an organization, you should __________. a. suggest that the organization intentionally deceived you b. threaten possible litigation if the claim is not granted c. use emotional language to show how much the situation means to you d. appeal to the organization's sense of responsibility and pride in its good name
When writing a persuasive claim message, it is best to D. appeal to the organization's sense of responsibility and pride, support your claim with credible reasoning and evidence, and maintain a professional tone.
When writing a persuasive claim message to an organization, you should appeal to the organization's sense of responsibility and pride in its good name. To effectively support your claim with the most credible reasoning and evidence, it is vital to remain professional and courteous. Steering clear of accusations, threats, and overly emotional language increases the likelihood that your position will be understood and your claim taken seriously.
A claim letter should suggest why it is in the recipient's best interest to grant your request. This involves appealing to their sense of fairness or desire for continued business. Moreover, displaying confidence that the recipient will right the wrong is crucial, as is presenting the issue as a possible oversight rather than a deliberate action. By doing so, you hope to engage the reader's emotions, such as sympathy, in a manner consistent with the facts. Maintaining a respectful tone is central to framing a persuasive and compelling argument in a claim letter.
Victor is calling on Meridian Cabinetworks. His goal is to close a deal for a customized profile sander valued at about $3,500. He'd be willing to accept if Meridian purchases one of one his firm's ready-made sanders, which cost about $2,000. Victor wants to convince the owner of Meridian to use the sander and to provide his company with a testimonial that would help him approach other local wood workers. For Victor, the sale of the less expensive ready-made profile sander is his _____.
minimum call objective
Answer:
minimum call objective
Explanation:
For Victor, the sale of the less expensive ready-made profile sander is his minimum call objective. This term refers to the first basic business purpose that the sales-person has to accomplish in order for their sales pitch to be considered a success. Therefore since Victor is willing to accept selling the less expensive sander when making the call then that is his minimum call objective.
Suppose you believe that energy companies will be making huge profits in the future, and you'd like to share in those profits. you're not sure which companies will be the most successful, or successful at all for that matter, so you decide you want to invest a little in a lot of companies to spread the risk. the best way for you to do that is by investing in
Answer:
an energy mutual fund
Explanation:
Suppose you believe that energy companies will be making huge profits in the future, and you'd like to share in those profits. you're not sure which companies will be the most successful, or successful at all for that matter, so you decide you want to invest a little in a lot of companies to spread the risk. the best way for you to do that is by investing in an energy mutual fund
Waterway Company assigns overhead based on machine hours. The Milling Department logs 2540 machine hours and Cutting Department shows 3940 machine hours for the period. If the overhead rate is $3 per machine hour, the entry to assign overhead will show a ________.
Answer:
Change!
Explanation:
Final answer:
The entry to assign overhead will show a debit to the Milling and Cutting Departments for overhead at $3 per machine hour, resulting in $7,620 for Milling and $11,820 for Cutting, totaling $19,440.
Explanation:
When Waterway Company assigns overhead based on machine hours, and the overhead rate is $3 per machine hour, the total overhead for both departments can be calculated by multiplying the machine hours by the overhead rate. For the Milling Department, the calculation is 2540 machine hours times $3 per machine hour, which equals $7,620. For the Cutting Department, it's 3940 machine hours times $3 per machine hour, equating to $11,820. Therefore, the entry to assign overhead would show a credit to the overhead account and a debit to the respective department's overhead applied account totaling these amounts.
For the Milling Department: Overhead Applied - Milling = 2540 machine hours * $3/machine hour = $7,620.
For the Cutting Department: Overhead Applied - Cutting = 3940 machine hours * $3/machine hour = $11,820.
Total Overhead Applied = Overhead Applied - Milling + Overhead Applied - Cutting = $7,620 + $11,820 = $19,440.
Manuel's vacation to Chicago for $1,000 for three nights in a four-star hotel on Michigan Avenue included airfare and accommodation. If these services were availed individually, it would have been more expensive. This form of pricing is referred to as
Answer:
Price bundling
Explanation:
Price bundling occurs when many many gods or services are combined together into just one comprehensive package and sold at a lower price that is all-inclusive.
It enables the seller to increase profit despite the reduction in price because it enables him to promote the sale of other products or services.
Therefore, If all the services rendered to Manuel were availed individually without price bundling, it would have been more expensive.
The pricing method used in Manuel's vacation package is called bundle pricing, where a group of related products or services are combined and sold for one lower price. This strategy benefits both companies and consumers.
Explanation:Manuel's vacation to Chicago in a four-star hotel on Michigan Avenue for $1,000 which included airfare and accommodation is an example of bundle pricing. Bundle pricing is a marketing strategy where a group of related products or services are combined and sold for one lower price.
This type of pricing strategy is commonly used in the tourism industry, and is beneficial for both the companies and the consumers. For the companies, it can help them clear off large quantities of products or services more quickly.
Consumers, on the other hand, perceive it to be a good value for money as the combined price is less than buying each item or services individually.
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In dual agency, conflicts of interest may arise since a single broker has both the listing contract with the seller and a buyer agency agreement with the purchaser. One way that states have attempted to deal with this issue is to develop a new type of brokerage relationship in which the broker assists the buyer and seller, but does not represent either party. This type of brokerage relationship is commonly referred to as
Answer:
Transactional Brokerage
Explanation:
Simply put, A transaction brokerage provides third-party real estate services to buyers and sellers.
Central Supply purchased a new printer for $45,000. The printer is expected to operate for nine (9) years, after which it will be sold for salvage value (estimated to be $4,500). How much is the first year’s depreciation expense if the company uses the double-declining-balance method?
Answer:
$9,900
Explanation:
The double-declining method is an accelerating approach to accounting for depreciation. The method uses twice the rate of the straight-line depreciation method. For central supply, the straight-line depreciation rate will be.
Useful- life 9 years, the rate will 1/9 x 100
=11.11 %
Double declining method = 11 % x 2 = 22%
the Depreciable amount equal to asset cost minus salvage value
=$45,000 -$4500
=$40,500
Depreciation is done up to the salvage value.
The first-year depreciation will be 22% of the book value( the cost price)
=22% of $45,000
=22/100 x $45,000
=$9,900
36) Elle Inc. is a firm that holds frequent reviews and feedback sessions for its employees. It demands that the same person review the employees of a team to ensure that the performance evaluation is consistent; tests-retests are conducted periodically to make sure the evaluation is consistent. These two steps taken by Elle Inc. focus on the ________ of performance management.
Answer:Reliability
Explanation:
The performance reviews are done to check if the employees are efficient in their performance and have desired productivity. Organisations look for reliable feedback in order to develop the company and the employees.
To get a reliable feedback Elle Inc has followed that the same person reviews the employees to get consistent feedback.
When different person does the review each person's review differ it will be difficult for the organisation to take decision.
When deciding to accept a one time only special order from a wholesaler, management should ________. A. determine whether excess capacity is available B. verify past design costs for the product C. consider the sunk costs and opportunity costs D. not consider the special order's impact on future prices of their products
Answer:
A
Explanation:
As supplying for a wholesaler means providing a large amount of products.
Particularly, a -one-time-only special order often involve in extrmely large quantity with low price. In addition, the quantity and quality of products are always the most important factors considered of an order.
So that determining the capacity so as to meet the needs of the wholesaler is what the management should do to assure the the numbers and the quality of products to supply.
Supply chain ______ determines how to structure a supply chain including the product, selection of partners, the location and capacity of warehouses, transportation methods, and supporting management information systems.
Answer:
Supply chain design
Explanation:
Processing the supply chain relates to maintaining the day-to-day operations related to the goods and services.
The goal is to turn the raw material into the finished goods by going through the manufacturing work cycle so that the product is ready to be sold and shipped to the consumer with specified time and exact location.
In addition, it also focuses on achieving a strategic edge and improving customer satisfaction.
And, the supply chain design is a process by which a business designs and manages the supply chain to determine the appropriate combination between inventory, transport and production costs.
Since in the given situation, the the product, selection of partners, the location and capacity of warehouses, etc indicates the designing of the supply chain
Bob claims that Carla breached their contract for tutoring. Carla responds that she never intended to enter into a contract with Bob. The intent to enter into a contract is determined with reference to. the intentional theory of contracts. the objective theory of contracts. the personal theory of contracts. the subjective theory of contracts.
Answer:
the objective theory of contracts
Explanation:
The objective theory of a contract is attached to legal laws and agreements. In the above scenario, Bob claims that Carla breached their contract while Carla explains that she never intended to enter a contract. So, the intention to enter the contract will be explained by the objective theory of a contract, and it will explain who has breached the contract; according to the law and agreement.
Jessica teaches business studies in a reputed college. As part of the curriculum, she needs to demonstrate to her students the steps involved in starting a business. She plans to introduce the steps in a sequential order and ask her students to present their views and provide examples with each step. What is the first step she should discuss?
Answer:
In the first step jessica should discuss the basic and general ideas of creating business.
Explanation:
As mentioned in the question jessica teaches business studies in a college and she has to demonstrate her students the steps which would be involved in the starting of a business.
So, she has thought to demonstrate the ideas in a sequential order with proper examples and all the steps should be explained nicely.
So,here in the first step she will need to:
Start with the most basic and general idea of creation of new business.
Here we should know why a business basic idea so important:
Because a proper plan will only lead to a business reality.The idea will work as a blueprint in the guidance of business The best idea will progressively lead to well settled company from a start-up.Bryan is debating how to allocate the IMC budget for his new ski equipment store. He knows having knowledgeable salespeople in his store can simplify buyers' purchase decisions. He should also consider that, compared to other IMC alternatives, personal selling is:_______.
A. overrated.
B. ineffective.
C. expensive.
D. simple.
E. easy.
Answer:
The answer is C. expensive
Explanation:
An integrated marketing communication (IMC) is an approach to brand communication where the different modes work together to create a seamless experience for the customer.
32) As the CEO of Blue Corp., Terrell makes it a point to meet new hires at all levels of his organization. He explains the goals of the company and emphasizes the importance of an individual employee's role in the larger picture. This initiative of Terrell focuses on the ________ of performance management.
Answer:
Strategic purpose
Explanation:
In management , strategic purpose refers to a form of managerial action that is intended to achieve one specific goal/aspect of the operation.
Strategic purpose is intended to help the company meet its objectives in the long run, but the implementation of strategic purpose tend to be realized within the short period of time.
In the example above, the strategic purpose of the management is to increase individual employees role. In the long run, this most likely done in order to increase the company's overall efficiency since independent employees require very little supervision.
For 20 years, Art’s Flower Shop relied almost exclusively on advertising in the yellow pages to bring business to its shop in a small West Virginia town. One year, the yellow pages printer accidentally did not print Art’s ad, and Art’s suffered an enormous drop in business. Art’s sued for negligence and won a judgment of $50,000 from the jury, but the printing company appealed, claiming that under an exculpatory clause in the contract, the company could not be liable to Art’s for more than the cost of the ad, about $910. Art’s claimed that the exculpatory clause was unconscionable. Please rule.
Answer: The clause is unconscionable
Explanation:An unconscionable clause could be explained as a proposed agreement between two parties such that the terms of agreement is so biased or one-sided and hence unenforceable. The exculpatory clause in the other hand refers to a clause which relieves a party of liability during contract execution.
Based on the facts derived from the context above, Arts' claim that the exculpatory clause in the contract was unconscionable is true, this is because The yellow pages served as Arts' flower's only advertising channel for over twenty years, this is a clear exercise of monopoly. And yellow page negligence cost Arts' flower dearly even after monopolizing their advertisement option and as such yellow pages should be held accountable for negligence.
The court should rule in favor of Art's Flower Shop by affirming the jury's decision and declaring the exculpatory clause in the contract unconscionable due to its oppressive nature and the significant financial impact on Art's Flower Shop.
Ruling on Art's Flower Shop vs. Yellow Pages Printer
The issue at hand is whether the exculpatory clause in the contract between Art's Flower Shop and the yellow pages printer is unconscionable. An exculpatory clause limits a party's liability, but these clauses can be invalidated if deemed unconscionable under contract law, meaning they are so one-sided that they are oppressive or unfairly surprising to the disadvantaged party.
In this case, the clause limits the printer's liability to the cost of the ad ($910), despite the significant financial loss ($50,000) Art's suffered. To rule on this, the court would consider factors such as the bargaining power of each party, whether Art's had any meaningful choice in accepting the terms, and the clarity of the clause. Given that Art’s claims they relied almost exclusively on this form of advertising, the court might find the clause oppressive and thus unconscionable, particularly if Art's had little alternative but to accept the ad contract terms.
Based on these considerations, it is reasonable to rule in favor of Art’s Flower Shop, affirming the jury's decision and holding the exculpatory clause as unconscionable.
Long and Short, CPAs, were auditing Island Corporation for the year ended December 31, 2014. On January 11, 2015, a major customer of Island Corporation declared bankruptcy as the result of an uninsured loss due to a major fire in their warehouse on January 8, 2015. As a result, a material accounts receivable from the customer was determined to be uncollectible. Long and Short, CPAs, would expect the client to:____________.
A) treat the loss as a subsequent event and adjust the 2014 financial statements to record the loss on uncollectible accounts.
B) record the loss on uncollectible accounts as a routine transaction in the year 2015.
C) treat the loss as a subsequent event and provide a footnote about the loss in the 2014 financial statements.
D) file a lawsuit against the customer in hopes of collecting some of the money owed to the client.
Answer: C) treat the loss as a subsequent event and provide a footnote about the loss in the 2014 financial statements.
Explanation:
The event happened in January 2015 which was after the books ended in December 2014. This makes it a subsequent event which is an event that occurs after the accounting period but before the Financial results are released.
The loss is therefore a subsequent event and must be treated by putting a footnote in the financial statement to reflect that the event happened after the accounting period.
What element of a crisis management plan defines the process that should unfold once an issue or crisis is identified? Hint: it also includes information about team members who should be engaged, when to pause publishing activities, and who decides when a crisis is over and normal social media operations can resume?
a) Conditional ("If-Then") Branches
b) Decision Tree
c) Venn Diagram
d) None of these
e) Flow Chart
f) Hypothetical Imperatives
Answer:
b) Decision Tree
Explanation:
A decision tree is a support tool that allows for an organisation to make decisions analysing the possible consequences, event outcomes and cost resources.
In a crisis management plan, the Decision Tree defines the process to be followed once an issue or crisis is identified. It also sets responsibilities for team members, pausing publishing activities, and deciding when normal operations can resume.
Explanation:The element of a crisis management plan that defines the process that should unfold once an issue or crisis is identified is the Decision Tree. This component of the plan encompasses the sequential events to be triggered when a crisis arises. It outlines the team members responsible for handling the situation, directives on pausing publication activities, along with who has the authority to decide when a crisis concluded and operations can return to normal. The Decision Tree serves as a crucial guide, setting a clear path of action and decision-making during crisis management.
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1. Almost all dissatisfied guests complain. Group of answer choices True False 2. About 13 to 16 guests out of every 100 are purposefully out to scam us and get something for free. True or False 3. If you solve a guest problem efficiently, quickly, and delightfully...That guest may be even more likely to use your product or service again than if he or she ever had a problem in the first place. True or False 4. Dr. Ricci gave two examples of excellence in guest service from which organizations? A. Walt Disney World, Universal Studios B. Publix, Pet Supermarket C.Publix, JetBlue D.Marriott, Hilton 5. It is only likely for a guest to receive outstanding service at luxury brands. That's why Ritz-Carlton, Mandarin Oriental, Four Seasons, and others are the best at what they do. True or False WILL GIVE 5 STARS
Answer:
1. Almost all dissatisfied guests complain.
FALSE, ONLY ABOUT 5-10% OF DISSATISFIED CUSTOMERS ACTUALLY COMPLAIN. SOMETIMES THAT RATIO IS EVEN LOWER DEPENDING ON THE INDUSTRY.
2. About 13 to 16 guests out of every 100 are purposefully out to scam us and get something for free.
FALSE
3. If you solve a guest problem efficiently, quickly, and delightfully...that guest may be even more likely to use your product or service again than if he or she ever had a problem in the first place.
TRUE, ABOUT 95% OF THE GUESTS WHOSE PROBLEMS WERE SOLVED IMMEDIATELY AND DELIGHTFULLY GENERALLY RETURN OR HAVE A VERY POSITIVE OPINION ABOUT THE HOTEL.
4. Dr. Ricci gave two examples of excellence in guest service from which organizations?
C) Publix, JetBlue
5. It is only likely for a guest to receive outstanding service at luxury brands. That's why Ritz-Carlton, Mandarin Oriental, Four Seasons, and others are the best at what they do.
FALSE
Not all dissatisfied guests complain, and the proportion of guests that are trying to scam is difficult to accurately gauge. Effective problem resolution can encourage repeat business with a guest. Outstanding service is not restricted to luxury brands.
Explanation:1. While it may seem that almost all dissatisfied guests complain, this statement is not always true and can vary depending on the context and specific situation. It should be noted that satisfaction levels can be subjective and not all dissatisfied guests voice their complaints.
2. The claim that about 13 to 16 guests out of every 100 are trying to scam is subjective and also varies with different sectors of hospitality business. It's hard to put a concrete percentage on such behavior.
3. If a guest's problem is solved efficiently, quickly, and delightfully, the guests are more likely to use your product or service again. This speaks to the importance of effective and prompt customer service in generating repeat business.
4. Without the specifics of Dr. Ricci's examples, I cannot verify which organizations Dr. Ricci used for examples of excellent guest service.
5. It is not only luxury brands like Ritz-Carlton, Mandarin Oriental, Four Seasons that provide outstanding service. Many non-luxury brands also excel in guest service, debunking the false impression that exceptional service is exclusive to luxury brands.
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