To calculate the budgeted units of production for January, we add 20% of February's projected sales to the projected sales for January. The correct answer is 236,000. To calculate the budgeted units of production for February, we add 20% of March's projected sales to the projected sales for February. The correct answer is 222,000.
Explanation:To calculate the budgeted units of production for January, we need to consider the desired ending finished goods inventory for February. The question states that the desired ending finished goods inventory is 20% of the following month's sales. So we calculate 20% of February's projected sales (180,000 units), which is 36,000 units. Adding this to the projected sales for January (200,000 units), the budgeted units of production for January is 236,000 units. Therefore, the correct answer is d. 236,000.
To calculate the budgeted units of production for February, we need to consider the desired ending finished goods inventory for March. The question states that the desired ending finished goods inventory is 20% of the following month's sales. So we calculate 20% of March's projected sales (210,000 units), which is 42,000 units. Adding this to the projected sales for February (180,000 units), the budgeted units of production for February is 222,000 units. Therefore, the correct answer is b. 222,000.
SpeakEasy, a U.S. software company that specializes in voice-recognition software, wishes to rapidly enter the growing technical translation software market. This market is dominated by firms making highly differentiated products. To enter this market, SpeakEasy would be best served if it considers a(n):
Answer:
In this case, the answer would be acquiring or merging with other firms producing related products or services.Explanation:
As mentioned in the question, the market for technical translation software is basically dominated by firms producing differentiated or specialized products and services.Now, considering that SpeakEasy is a completely new entrant in the market, it will be extremely difficult for the company to initially compete with the established market leaders or firms dominating the market.Hence, SpeakEasy can perhaps consider acquiring or merging with some of the firms producing or specializing in voice-recognition software that will eventually ease the burden of market competition or rivalry for the company and consequently,it can commercially and economically grow and prosper in the market by capturing new customers and expanding market share.Mergers or acquisitions, in this case, would help the company to effectively focus on its specialized activities and conducts through knowledge sharing, economies of scale or lower average production cost,transfer or transmission of technological knowledge and exploration of new customer or client bases.The core competency of MotorCraft Inc. is its fuel-efficient engine found in its cars. These engines are developed and built in-house. The company realizes that there is a new market opportunity to diversify. Thus, it produces the car engines on a large scale and sells them to other automobile companies. In this scenario, MotorCraft is:
A. leveraging existing core competencies to target the chasm between the early adopter and early majority market segment.B. redeploying and recombining existing core competencies to compete in future markets.C. building new core competencies to create and compete in future markets.D. building new core competencies to protect and extend current market position.
Answer: B. redeploying and recombining existing core competencies to compete in future
Explanation: Motor craft inc core competence is in fuel efficient engine but realizing that there is a new market opportunity to diversify, it then "redeployed and recombined existing core competencies to compete in future". By producing car engines in large scale and selling it to other automobile companies.
What is expected of a new salon employee and what are two things you must do every day? 2. What are six habits of a good team player? 3. What are the three most common methods of salon compensation you are likely to encounter? 4. What are five principles of selling salon products and services? (Explain them.) 5. What are six ways you can work to expand your client base?
Answer:
1.
As an employee working for a salon, it is necessary to have understandings and skills related to this job. They should have hair care skills to provide services for customers such as: washing, cutting, dyeing, etc. In addition, they also need to have good working attitude, which includes being on time for their shifts, being friendly, respectful to the customers. As a service provider, they should also be customer-oriented, which means prioritize the benefits of customers.
2.
A good team player is the one who have both good individual skills and the team-oriented attitude as well. So that they tend to have these habits:
+) The first one is they need to strive to help. This reflects their attitude to contribute as a team and help each other rather than just look for personal achievement.
+) Second one is to pitch in, start doing something as a group, put the responsibility for and the benefit of the whole group on top.
+) The next one is share your knowledge. Sometimes, in a group, the field of understanding of each member is different. It is necessary to share the knowledge to assure that other people can also understand what you gonna do to have appropriate adjustment or support if necessary. This can also help team members all gain.
+) The fourth one is to have positive mind. The more optimistic and future-focused a member the better they perform at work. And this attitude also helps lift the enthusiasm as well.
+) The fifth one is being willing to resolve conflict. As conflicts are unavoidable in team work due to the difference in many aspects of people. A good team player tends to be more willing to resolve conflict as it could affect the work efficiency.
+) The last one is to be willing to be subordinate and loyal. This could help remain the team spirit well and make a team player become a good listener. Even when they are wrong or have no idea, it is essential that they are willing to be subordinate rather than just want to lead everything.
3.
Three most common methods of salon compensation could be salary, commission, and salary plus commission.
Salary is the fixed amount that the employees receive when fulfilling all of their duties. The job and salary are usually discussed and accepted by both sides before they start working.
The commission is the money the employees receive, which is calculated by the level of completion of the job.
Salary plus commission are used when the employees can earn sales or create added value to the business of the firms - which is higher than the required level of their duties.
4.
Five principles of selling salon products and services are:
+) First, be familiar and have understanding about each product's feature, benefits, effect as well as the other services. This is to assure that they can sell and recommend the right one that the customers need.
+) Second, try to adapt the technique to meet the needs of each client. The clients demand and personality varies so that their needs are different, for example some are willing to have more recommendation to buy, some are easily confused and uncomfortable instead.
+) The third one is asking questions determining the need to generate the customer's interest in products or services.
+) The fourth one is never underestimate the client's knowledge. Despite the fact that there are still customers do know much about beauty knowledge, you should never assess it and try to show your respect to the customer's understanding.
+) The last one is keeping relaxed and friendly manner when having a sales talk. This could make the conversation more comfortable and please the client.
5.
To expand the client base, you should focus much on the customer services and try to deliver the value to the customers. This can be enacted in these ways:
+) Membership: Provide frequent customers with membership to obtain added benefits.
+) Provide consistently great services and products in all aspects, not focus on particular things.
+) Be respectful to the customers and each other within the business.
+) Connection: try to connect more with your clients to make them feel they are cared.
+) Be positive as people are always moving towards and attracted by the enthusiasm and optimism.
+) Focus on making the salon image reliable to keep the repeat customers.
Haley's employer has asked her to review tens of thousands of social media posts about their company's products and compile this data into a database. In terms of the characteristics of big data, Haley is dealing with ________
a. volume
b. veracity
c. velocity
d. variety
Answer:
the correct answer is d. variety
Explanation:
data variety refers to that the data are coming from various sources and require processing and further attention to make them useful and to convert them into purposeful information.
A depositor places $10,000 in cash in a commercial bank, where the required reserve ratio is 10 percent. The bank sends the $10,000 to its Reserve. As a result, the actual reserves (R), required reserves (RR) , and excess reserves (ER) of the bank have been increased by ___________.
a. $10,000, $9,000, and $1,000, respectively.
b. $10,000, $500, and $4,500, respectively.
c. $10,000, $1,000, and $9,000, respectively.
d. $1,000, $10,000, and $9,000, respectively
Answer:
C) $10,000, $1,000, and $9,000, respectively.
actual reserves increase by $10,000required reserves increase by $1,000excess reserves increase by $9,000Explanation:
the money deposited by the client = $10,000
bank's reserve ratio is 10% = $10,000 x 10% = $1,000
since the bank kept the whole $10,000 as reserves, then:
actual reserves increase by $10,000required reserves increase by $1,000excess reserves increase by $9,000The bank is only required to keep $1,000 in reserves, this means it can borrow the remaining $9,000 whenever they want.
Which one of the following terms is defined as a loan wherein the regular payments, including both interest and principal amounts, are insufficient to retire the entire loan amount, which then must be repaid in one lump sum?
A. Amortized loan.
B. Continuing loan.
C. Balloon loan.
D. Pure discount loan.
E. Interest-only loan.
Answer:
C. Balloon loan
Explanation:
Balloon loans are loans that can not fully amortize over its term. They are loans that are paid of with a large single final payments. A lump sum amount. It involves the borrower paying back a lower monthly percentage in exchange for paying a large one time payments at the end of the loan term. Either fixed or flexible interest rate structure can be used on it. Ballon loans are usually reserved for conditions when a business has to wait until a specific period before receiving payment from a client for its product or services.
Answer: (C) Ballon
Explanation:
This type of loan does not fully amortised at the end of its term. Since it is not fully amortized, hence a balloon payment is necessary at the end of the loan term to pay off the remaining initial principal balance of the loan. Balloon loans are usually attractive in short-term loans because they typically carry lower interest rates than loans with longer terms. However, the borrower must be aware of refinancing risks as there's a risk the loan might be reset at a higher interest rate which is not favorable to the borrower.
Sara works for a large corporation and spends a great deal of her workday at her computer. Occasionally, she'll perform a series of actions and receive a confusing error message on the screen which will impede her work and not allow her to proceed. At this point, Sara should:
Answer:
get a new computer or im wrong and she should ask someone about itWhen sara receives a confusing error message on the screen which impede her work and not allow her to proceed. At this point, Sara can follow any of the provided options,
a) Complain
b) Read the Error Message
c) Note Actions Taken
d) Search for Solutions
e) Consult Documentation/Support
f) Ask for Help
g) Report the Issue for technical support
When sara receives a confusing error message on the screen which impede her work and not allow her to proceed. At this point, Sara can follow any of the given steps in order to solve the query,
a) Complain to the authorities: complain n report the problem to the designer who did not provide a more convenient mechanism for completing her task.
b) Read the Error Message: Carefully analyze the error message displayed on the screen. Understanding the error message can provide valuable clues about what might be causing the problem.
c) Note Actions Taken: Sara should make a written note of the actions she performed leading up to the error. This can be useful for troubleshooting later on.
d) Search for Solutions: Sara can search for the exact error message or a brief description of the issue on the internet. Often, others might have encountered the same problem and found solutions or workarounds.
e) Consult Documentation/Support: Many applications have online documentation or support resources. Sara should consult these resources to find potential solutions or contact customer support if available.
f) Ask for Help: If the error persists and Sara cannot resolve it on her own, she should consider seeking help from a colleague or an IT professional. Sometimes, a fresh perspective can be valuable in troubleshooting.
g) Report the Issue: Sara should report the error to the relevant technical support or IT department. Providing them with the error, steps that lead to the problem, and any other relevant information can help them diagnose and fix the issue.
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Cup N Cone Inc., a graphic design firm, has offices in New York, Texas, California, New Mexico, and New Jersey. Each of these offices is headed by a president who reports directly to Marvin Grey, the CEO. The heads of the centralized HR, Finance, and Marketing teams report to Marvin Grey as well. Managers in the various offices also report to the CEO directly. Based on this information, which of the following statements is most likely to be true?
A) Cup N Cone Inc. is a mechanistic organization.B) Cup N Cone Inc. has a tall hierarchical structure.C) Marvin Grey is underworked.D) Marvin Grey has a wide span of control.
Answer:
Wide span of control
Explanation:
Span of control is determined by the number of employees or subordinates that a manager supervises. In a wide span control , the manager supervises many employees while in a narrow span , the manger supervises a few.
Looking at the number of employees that report to Marvin Grey , from the Presidents of the branches , to the central head of Finance and the marketing teams and other managers , we can point out that Marvin Grey has a wide span of control
Answer:
D) Marvin Grey has a wide span of control.
Explanation:
A CEO has wide span of control if his employees as well as his subordinate managers are being supervised by him and they also report directly to him. In wide span of control, they are few levels of management and it is not expensive to implement.
A mechanistic organization is an organization with a centralized authority and have formalized procedures and practices. Employees are assigned with separate tasks.
A tall hierarchical structure is an organization broken down to different portions each having a manager responsible for controlling the operations in that portion
Voters in Lincoln School District approved the construction of a new high school and approved an $8 million bond issue with a stated rate of interest of 6% to fund the construction. Bids were received and the low bid was $8 million. When the bonds were issued, they sold for face value less bond underwriting fees of $.5 million. The School Board voted to fund the balance of the construction by a transfer from the general fund.
The entry in the capital projects fund to record the receipt of the bond proceeds would be:__________
a) Debit Cash $7.5 million; Credit Bonds payable $7.5.
b) Debit Cash $7.5 million; Credit Other financing sources $7.5.
c) Debit Cash $7.5 million and Expenditures $.5 million; Credit Bonds payable $8 million.
d) Debit Cash $7.5 million and Expenditures $.5 million; Credit Other financing sources $8.
Answer:
d) Debit Cash $7.5 million and Expenditures $.5 million; Credit Other financing sources $8.
Explanation:
The Cash proceed from the bond is recorded as the net of face value of the bond and the underwriting fees.
The underwriting fees is the expenditure for the Lincoln School District ad it is debited to record the expense.,
As the bond issued is a liability for Lincoln School District and payable at the date of maturity. the interest is also paid on this amount on stated rate of 6%. The Bond Payable account is credited to record the liability.
What must country commit to in order to become a part of the Organization of Economic Cooperation? How does one's language force a person to think about time? How does this difference in language relate to our propensity to save? What experiments did Chen carry out to come up with these conclusions? Did anything surprise you about this video? Why or why not?
1. What must country commit to in order to become a part of the Organization of Economic Cooperation?
- The affirmed common commitment of democracy, open markets, and free trade.
2. How does one’s language force a person to think about time?
- When you use different words in different tenses, it makes you think about the time these events took place, saying “I walked yesterday” is past tense but, “I’m walking” is present tense.
3. How does this difference in language relate to our propensity to save?
- Speaking futureless language, you will speak about time identically meaning you will feel as they are identical, it increases your propensity to save.
4. What experiments did Chen carry out to come up with these conclusions?
- Chen came up with knowledge of his own ideas to figure out the conclusion.
5. Did anything surprise you about this video? Why or why not?
- No. Everything made sense, everything had great conclusions talking about past, present, and future tenses.
Linguistic determinism suggests that structural differences in language, such as those between English and Mandarin in conceptualizing time, influence cognition and behavior, and could impact societal behaviors like saving and safety.
Explanation:The notion that language shapes thought, known as linguistic determinism or the Sapir-Whorf hypothesis, posits that the structural differences in language influence our cognition and behavior. Research by Boroditsky (2001) and others indicates that the ways in which different languages describe concepts like time can affect how speakers of those languages perceive and react to temporal relationships. For instance, English speakers often conceptualize time on a horizontal plane, while Mandarin speakers may also use a vertical dimension to discuss the past and future. This linguistic difference has potential consequences on behaviors such as intertemporal choices and could even influence societal tendencies like the propensity to save money or the occurrence of workplace accidents.
Jay, a divisional vice president of a consumer goods manufacturer, gives a presentation to all divisional employees to outline the company’s goals for the coming year. This is an example of what type of organizational communication?
a. Virtual communicationb. Grapevine communicationc. Lateral communicationd. Downward communicatione. Upward communication
Answer:
d. Downward communication
Explanation:
The downward communication is the process of communicating the information from top to bottom i.e superior to subordinates or vice president to divisional employees . The information can be in terms of explaining the duties and responsibilities, any changes in the process, etc
So according to the given situation, the Jay who is a divisional vice president of a consumer goods manufacturer gives a presentation to all the employees of divisions that reflect the downward communication
Firms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller. Consider this case: Tasty Tuna Corporation buys on terms of 1/10, net 30 from its chief supplier. If Tasty Tuna receives an invoice for $856.75, what would be the true price of this invoice?
1. $848.18
2. $890.59
3. $720.95
4. $636.14
The nominal annual cost of the trade credit extended by the supplier is. Suppose Tasty Tuna does not take advantage of the discount and then chooses to pay its supplier late-so that on average,. On average, Tasty Tuna will pay its supplier on the 35th day after the sale. As a result, Tasty Tuna can decrease its nominal cost of trade credit by by__________ paying late.
Answer:
A.) $848.18
3.69%
Explanation:
Invoice amount = $856.75
Payment term of 1/20, net 30 implies that if payment is made within 20 days then the customer will get a 1% discount, with the maximum payment term being 30 days.
Therefore, True price equals :
Invoice amount × (1 - 1%)
$856.75 × (1 - 0.01)
$856.75 × 0.99
= $848.1825
NOMINAL COST OF TRADE CREDIT:
(discount/(1-discount))×(365)(total payperiod - discount period)
Nominal cost of trade credit extended by the supplier:
(0.01/(0.99)) × (365)/(30-10)
0.010101 × 18.25 = 0.1843
= 18.43%
Nominal cost of trade credit if Tasty Tuna chooses to pay later:
(0.01/(0.99)) × (365)/(35-10)
0.010101 × 18.25 = 0.1474
= 14.74%
(18.43 - 14.74)% = 3.69%
Jane Doe is a shop owner in the fictional country of Xanadu. Every month the government’s planning ministry sends her a large booklet (which resembles a phone book) regulating the price of essential commodities including milk, flour, and eggs. In response to these regulations Jane Doe has reduced her inventory of essential goods and switched to selling luxuries such as cakes, pies, and soft drinks. Luxury goods are not price controlled. Does Jane Doe reside in a command economy? Why or why not?
Answer:
No, Private Ownership
Explanation:
Jane Doe cannot be said to reside in a command economy because a command economy is mainly characterized by state ownership and the determination of prices and choices of goods and services to be produced; by the government
In the scenario, Jane Doe owns her own shop owner in the country of Xanadu, and private ownership is not found in command economies.
However because the government’s planning ministry sends her a large booklet (which resembles a phone book) regulating the prices of essential commodities, it implies that there is a degree of government intervention.
Such private ownership plus government intervention characterizes a mixed economy.
Answer:
Xanadu is not a command economy, it can be classified as a mixed market economy.
Explanation:
Since Jane is allowed to run her own business, Xanadu cannot be considered a command economy (e.g. communism). Since the government does regulate several products (enough to resemble a phone book and they were large), it is not a market economy (capitalism) either. It is mixture of both (mixed market economy), since private ownership is allowed, but the government does intervene in some aspects of the economy.
During March, a music store had net sales of $270,000. The gross profit was $121,500 and the operating expenses were $108,000. As a percent of net sales, what was the gross profit margin? What was the net income for March? What was the net profit margin?
Answer:
Gross profit margin = 45%
Net income = $13,500
Net profit margin = 5%
Explanation:
Net sales = $270,000.
Gross profit = $121,500
Operating expenses = $108,000
Gross profit margin = (Gross profit ÷ net sales) × 100
Gross profit margin = $(121,500 ÷ 270,000) × 100
Gross profit margin = 0.45 × 100 = 45%
Net income for March :
Gross profit - Total expenses
$121,500 - $108,000 = $13,500
Net profit margin :
(Net profit ÷ net sales) × 100
(13500 ÷ 270,000) × 100
Net profit margin = 5%
Finor Traps manufactures an innovative mouse trap. Total sales for the current year is $325,000. The company expects its sales to go up to $500,000 in five years. What is the expected growth rate in sales for this firm
Answer:
Using equation
F=P(1+i)^n
n=5
F=500,000
P=325,000
500,000=325,000(1+i)^5i
i=8.99%
Answer:
9%
Explanation:
to calculate the compounding growth rate we can use the future value formula:
future value = present value x (1 + r)ⁿ
future value = $500,000present value = $325,000r = growth rate compounded yearly = ?n = 5 years$500,000 = $325,000 x (1 + r)⁵
(1 + r)⁵ = $500,000 / $325,000 = 1.53846
1 + r = ⁵√1.53846 = 1.08997
r = 1.08997 - 1 = 0.08997 or 8.997%≈ 9%
Even though the present value formula is used to calculate compounding interest rate, it can also be used to calculate compounding growth rate.
When preparing government-wide financial statements at the end of the fiscal year, Meen County recorded an adjusting entry for salaries of $8,500,000. The salaries for 1 week, $13,700,000, were paid on the first Friday of the new fiscal period. The entry to record payment of salaries for the week is
A. Salary expenditure $8,500,000
Salary payable 5,200,000
Cash $13,700,000
B. Salary expense $5,200,000
Salary payable 8,500,000
Cash $13,700,000
C. Salary expenditure $8,500,000
Salary payable $8,500,000
D. Salary expense $13,700,000
Cash $13,700,000
IHolly took a prospective client to dinner, and after agreeing to a business deal, they went to the theater. Holly paid $440 for the meal and separately paid $190 for the theater tickets, amounts that were reasonable under the circumstances. What amount of these expenditures can Holly deduct as a business expense?
Answer: The cost of entertainment is deductible if it directly PRECEDES or FOLLOWS a substantial business discussion, thereby satisfying this rule, ($440 + $190) × 50% = $315.
Therefore, Holly can deduct $315 as a business expense.
Answer:
Holy can deductible expense is $220
Explanation:
From a tax-rules' point of view cost of entertainment incurred after 31st December 2017 are no longer deductible,however 50% of cost of business meals is allowable if satisfies the following conditions:
The cost of business meal is invoiced separately from entertainment cost,which is case here as the cost of meal of $440 was separated from cost of theater tickets of $190.
The business meal is necessary and necessary incurred in the year.
A representative of the company or an employee is present at the furnishing of the meal.
The cost of business meal is not extravagant ,in other words reasonable as it is the case here.
The meal was served to a current or prospective client
Holy can deduct 50% of the business meal i.e 50%*$440=$220
With the increased usage of cell phone services, what should we expect to have happened to the price elasticity of demand for land-line telephone services? Group of answer choices It has become more income elastic It has become more price inelastic. The absolute value of the price elasticity coefficient has probably gone down. It has become more price elastic.
Answer:
It has become more price inelastic
Explanation:
Elasticity of demand for any good can be defined as degree of responsiveness of any good with respect to change in demand factors like price or income. Hence it signifies consumer sentiments as how will the goods demand change when there is change in price.
Highly elastic goods mean that with slight change in price there is large change in demand of good.
Highly inelastic goods mean any change in demand factor like income, price will not affect the demand of the goods.
Now going for landlines telephone. With the widespread use of mobiles phones, usage of landline phones has decreased significantly. Hence any change in price for landlines is not going to affect it demand as very few people are using it.
Using the above mentioned rational we can say that It has become more price inelastic is the most suitable answer.
__________ is the process of determining the amount of labor and machine resources required to accomplish the tasks of production on a more detailed level, taking into account all component parts and end items in the materials plan.
Answer:
Capacity Requirements planning
Explanation:
Capacity requirements planning refers to a planning technique used in determining quantity of product needed to be produced and if the available resources can meet up with the production. It helps to check if an organization can meet up with future demands for its merchandise. That is, it gives information on whether the organization has the capacity needed in producing production goals. It involves checking both human labour and machine labour putting into consideration component parts and end items in the materials plan.
The process described is known as the resource approach to production planning, focusing on labor and machine resource allocation based on inputs or factors of production. This approach is an integral part of efficient manufacturing, involving various economic actors throughout the production process.
Explanation:The process of determining the amount of labor and machine resources required to accomplish the tasks of production, taking into account all component parts and end items in the materials plan, is known as the resource approach to production planning. This approach involves analyzing the inputs—the resources such as labor, materials, and machinery that are used to produce goods and services—also referred to as factors of production. Unlike the cost approach, which starts with the intended output and seeks to minimize costs, the resource approach focuses on the resources needed to achieve production goals.
The resource approach requires a detailed understanding of the production process, including the design, management of the workforce, and operation of machinery. The goal is to ensure that production is carried out efficiently with the appropriate allocation of resources to meet the demands of the finished goods while maintaining quality standards. This process is critical for manufacturers, as it directly impacts the economic actors involved, including product designers, assembly-line workers, floor management, inventory managers, and a firm's sales division.
In the context of team compensation and recognition,__________remunerate employees for acquiring expertise that they will need to perform multiple jobs within a team and for sharing knowledge with others within their work groups.
Answer:
Skill based pay programs
Explanation:
Skill based pay program is a system that rewards employees who brings in formal certifications of skills, knowledge and/or competencies in exchange for additional pay. In skill based pay programs, payments are on the basis of how many skills does the employee have or how many jobs can they do or handle. Employees in organizations using this method gets pay based on getting skills and continually honing job related skills. It increases are linked to the number or depth of skills an employee achieves and applies and it as a means of developing broader and deeper skills among the workforce.
Answer:
skill-based pay programs
Explanation:
Skill-based pay (SBP) it is a compensation system that recompenses member of the work force with additional pay in exchange for formal certification of the employee's mastery of skills, knowledge, and/or competencies. Such idea keep each worker on his or her toes to know more and do more because there will be more reward.
Which kind of stock would you expect to pay the higher average return: stock in an industry that is very sensitive to economic conditions (such as an automaker) or stock in an industry that is relatively insensitive to economic conditions (such as a water company)
Answer:
Risk return you expect to pay high average return since it will give us better economic conditions.
The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.
Answer:
e. Business analysis
Explanation:
Based on the description being made within the question it can be said that this process is similar to the Business analysis step. This step focuses on identifying the product needs and determining the best position and solution to different product/business related problems. Many factors such as sales, costs, and profits are taken into account during this step in order to make the best decisions possible.
Titan Company is being sued for $200,000 and the attorney advises Titan that they will probably lose the lawsuit and is estimated Jones will pay the full amount of $200,000. Titan Company would need to record ________.
Answer: a credit to a liability
Explanation:
Credit to liability is recorded when a firm knows that it will loose in its case and it has to pay compensation for the law suit. The payment for the law suit is a liability to the firm.
Titan company's attorney has mentioned that the company would probably lose in the law suit and would have to pay an amount of $200,000. This amount will recorded as the credit to liability in the books of Titan Company.
During a telephone conference call, Rafaela asks her assistant to complete a report as soon as possible that day. The assistant, however, didn’t understand the urgency of Rafaela’s request, so when Rafaela showed up after lunch to collect the report, it wasn’t done. In this scenario, the assistant failed to understand what aspect of Rafaela’s message?
Answer:
Implicit
Explanation:
An implicit message refers to such form of communication wherein the required course of action is implied and not expressly or explicitly conveyed. Such messages include a hidden but obvious idea or fact.
Such messages do not clearly convey what is exactly intended but rely on assumption of the receiver's right comprehension.
In the given case, Rafaela asked her assistant to complete a report as soon as possible. The assistant on the other hand took such directions as of routine course and acted casually w.r.t performing the task.
This represents an implied message of the urgency of the task since Rafaela used "as soon as possible.". What it could not state expressly being, the extent or magnitude of urgency. The message wasn't clear with respect to the time period within which the work was to be performed.
Thus, the implicit aspect of Rafaela's message wasn't understood by her assistant.
If you believe the economy is about to go into a recession and your portfolio consists of growth stocks, defensive stocks and long-term bonds, you might change your asset allocation by selling ______ and buying ______.
Answer:
Growth stocks; Long-term bonds
Explanation:
If you believe the economy is about to go into a recession and your portfolio consists of growth stocks, defensive stocks and long-term bonds, you might change your asset allocation by selling Growth stocks and buying Long term bonds.
As in the given case, the economy seems to be in trouble and chances that it may go into recession, then there is a high-risk float in the money market which may reduce the growth of stocks and long term bonds have fixed income, therefore, while allocating assets during the recession, people should sell growth stocks and buy long term bonds.
___ is any direct to a consumer or business recipient that is designed to generate a response in the form of an order, a request for further information, and/or a visit to a store or other place of business for the purchase of a specific good or service.
(1 point)
a.
Mass advertising
b.
Interactive marketing
c.
Sales promotion
d.
Direct marketing
e.
Personal selling
Answer: D.) Direct marketing (happy to help)
Explanation:
Goods or services in standard-cycle markets reflect: a. numerous first-mover advantages. b. organizations that serve a mass market. c. an inability to sustain a competitive advantage except for brief periods of time. d. competitive advantages that are shielded from imitation.
Answer:
Option b.
Explanation:
In standard cycle, competitive actions are designed to serve large market shares, to gain customer loyalty and to control the firm's operations which in turn provide the same positive experience to customers.
Goods or services in standard-cycle markets reflect organizations that serve a mass market.
Standard-cycle markets refer to the markets where the firm's competitive advantages are shielded from imitation such that those advantages can be sustained longer but for a shorter period.
These advantages can be sustained for longer period in a slow-cycle market than in fast-cycle markets.
Competitive advantages are sustainable in slow-cycle as these are shielded from imitation for longer periods of time such that imitation is costly.
Option b. is correct
Final answer:
Standard-cycle markets challenge firms to maintain competitive advantages due to dynamic market conditions, technological advancements, and intellectual property laws. Barriers such as high startup costs and brand recognition can impede new entry, while economies of scope favor established firms by complicating the replicability of their operations. Option d
Explanation:
In standard-cycle markets, the characteristic trait is that firms face considerable challenge maintaining competitive advantage over extended periods due to the dynamic nature of such markets. These environments are not conducive to sustaining advantages because of factors like technological progression, which can rapidly change the cost and efficiency landscape, and the impact of intellectual property laws which can either protect or hinder competitive movement depending on patent and trademark control.
Product differentiation and economies of scale can provide a temporary edge, but these are often not substantial enough in the face of aggressive market conditions where firms try to create monopolistic competition through positioning. Additionally, high startup costs and brand recognition barriers limit the entry of new firms. Hence, while organizations may serve a mass market, the constant threat from new technology and competitors implies organizations cannot sustain a competitive advantage for long.
Furthermore, economies of scope complicate the ability for new entrants to copy the breadth of successful established operations whose profitability may come from producing multiple products using shared resources. Differentiation and scope create an environment where firms must continually adapt and innovate to survive.
George is buying his first house. He has spent a month looking at houses and comparing attributes such as price and location. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting ________.
Answer:
Complex buying behavior
Explanation:
Complex buying behaviour is the behavior which is defined as the behavior that happen when the customer is highly involved with the purchase and when there are differences among brands.
And this behaviour could be linked with the purchase of the personal computer or a new home.
So, in this case, George is purchasing his first house and for that he contracted various agents to look for different kinds of houses. Therefore, he is most likely exhibiting the complex buying behavior.
Final answer:
George exhibits thorough decision-making skills by comparing house attributes and consulting various real estate agents, reflecting careful economic decision-making tailored to his personal needs and values.
Explanation:
George is most likely exhibiting thorough decision-making skills in the process of buying his first house. By spending a month comparing price and location, and contacting several real estate agents to look at different types of houses, he indicates a strategic and well-informed approach to a significant financial decision.
This behavior is aligned with sound economic decision-making, where individuals use knowledge and reasoning to make decisions that best suit their personal needs and values. This scenario also highlights the importance of comparisons and the impact of potential biases in the decision-making process, such as an anchoring bias, which could affect judgment if George were to focus heavily on one attribute, like price, without recognizing the full scope of what's available. The right real estate agent would provide comparables to ensure George is aware of all his options within his budget, adhering to his personal housing preferences.
Woods company uses the perpetual inventory system. At year end the general ledger indicated that this company had a balance of $ 46 comma 000 in the Inventory account. Actual inventory on hand per a physical count was $ 46500. What action does the company now need to take?
Answer:
the company needs to debit inventory and credit of cost of goods sold for $500
Explanation:
The perpetual inventory management systems update the inventory level continuously. Every time a sale or purchase of inventory occurs, the system adjusts the cost of goods sold. From time to time, a physical count is conducted to compare the actual inventory level with the values reported in the system. In the event of differences, appropriate measures are taken.
In this case, the physical count was valued at $46,500, while the system reports $46,000. Since the physical count is the true reflection of the inventory level, the accountant has to adjust the system to match the physical account. The system needs to be increased by $500. Inventory is an asset and will require a debit entry of $500 to match the physical count. Movements in inventory affect the cost of goods sold account. A debit on inventory will correspond with a credit entry to the cost of goods sold account.
The Woods company, using a perpetual inventory system, should adjust its general ledger Inventory account by writing off the $500 difference between the account balance and the actual physical inventory count. This will reflect accurate inventory, cost of goods sold and profit figures.
Explanation:In the situation described, where the Inventory account balance in the general ledger of the Woods company is $46,000, but the actual inventory on hand according to a physical count is $46,500, the company needs to make an adjustment. It seems like a shrinkage error has occurred, a common issue in the field of perpetual inventory management. Thus, the company should adjust the Inventory account in its general ledger by writing off the difference of $500. This adjustment is necessary to match the general ledger with the actual inventory, and to reflect the accurate cost of goods sold and profit figures in the business's financial statements.
Learn more about Inventory Adjustment here:https://brainly.com/question/35964830
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The reason fast food restaurants often are found in close proximity to each other is a. they enjoy competition b. location clustering near high traffic flows c. low cost d. availability of skilled labor e. all of the above
Answer:
b. location clustering near high traffic flows
Explanation:
Proximity to customers is a major consideration when deciding on a business location. A business situated in areas with many potential customers has a high probability of succeeding. Restaurants are usually strategically situated in places with heavy customer flow.
Restaurants may be established near offices, in market places, near public transport terminus, or other location convenient to customers. With time, customers tend to associate that particular building, area, or street with restaurants. As the area becomes synonymous with restaurants, more customers will visit it, leading to more restaurants to open in that locality.