Answer:
B) fewer SKITTLES, raising the opp cost of not consuming skittles.
Explanation:
The principle of rational choices states that a person will carry out their purchasing decision in order to maximize the benefits or utility obtained. Individuals will always pursue their best self interest.
Since Tom is maximizing the utility obtained from candy, and the price of one type of candy increases, he will reduce the number of units bough from that type of candy until the utils obtained increase again. As the utils per dollar start to rise, the opportunity cost of not consuming that candy will also rise.
Given diminishing marginal utility and a price rise for Skittles, Tom will purchase fewer Skittles since the opportunity cost of consuming them will increase, leading to a reallocation of his spending towards goods where the marginal utility per dollar spent is equalized.
The correct option is 'B'.
Tom is maximizing utility by buying three packs of bubble gum and four packages of Skittles. Given diminishing marginal utility, if the price of Skittles rises, according to the principle of rational choice, Tom will buy fewer Skittles as it raises the opportunity cost of consuming them.
A rational consumer will continue purchasing additional units of a product only as long as the marginal utility from consuming the product exceeds the opportunity cost.
The opportunity cost in this case is the marginal utility of the foregone alternative which could be, for example, more bubble gum or another product. If the marginal utility of Skittles decreases or remains the same but the price increases, the cost of acquiring additional Skittles relative to the utility they provide rises, making them less attractive to purchase. Tom will adjust his spending to where the marginal utility per dollar spent is equal for all goods he consumes.
Keeping this in mind, we can apply the logic from an example scenario: suppose a consumer, Alphonso, moves down his budget constraint from Point A to Point B to Point C and further.
As he consumes more of a product, like bus tickets, the marginal utility will diminish, while the opportunity cost, perhaps the marginal utility of foregone burgers, will increase. Since no rational consumer would purchase more of a product if the opportunity cost exceeds the marginal utility, Tom will logically purchase fewer Skittles after the price increase, making the correct answer option b. 'fewer as, raising the opp cost of not consuming skittles.'
In the 1980s, the U.S. government forced Japanese automakers to limit their exports to the United States. The union representing the autoworkers (UAW), argued that otherwise the U.S. auto industry would have contracted. The UAW's argument is the ________ argument for protection.
A) save domestic jobs
B) national security
C) anti-dumping
D) infant-industry
E) bringing diversity and stability
Answer:
A) save domestic jobs
Explanation:
Domestic jobs: These are the categories of jobs that are available in the national country of the company or within the boundary of the country, which has a preference for the local population and has more responsibility toward national´s resources, however, foreign companies have less responsibility toward national´s resources and their sole motive is to earn profit at a lesser cost.
In the given case, Japanese company´s export to the U.S have affected the domestic jobs as their motive is to maximize profit, which leads to an argument for protection of domestic job in U.S auto industry, therefore, US government have limited the export of Japanese automaker.
Chevrolet runs a promotion whereby consumers can redeem two free ski lift tickets at their local dealer through a test-drive promotion. According to the communication model, the people coming into the dealership to test-drive a vehicle are the ________.
Answer:
feedback
Explanation:
Based on the scenario being described within the question it can be said that the individuals that test-drive the vehicles are the feedback. In the communication method this refers to the audiences response that allows "you" as a company to evaluate the effectiveness of your message, product, or promotion. Which in this specific scenario the people that test-drive the car allow you to understand what they like and dislike about the cars in order to improve on it and sell more.
The correct term for the people coming into the dealership to test-drive a vehicle in the context of the communication model is encoders.
In the communication model, there are several key components: the sender (encoder), the message, the channel, the receiver (decoder), and the feedback. The sender is the one who initiates the message, encoding it into a form that can be transmitted through a channel. In this case, Chevrolet is the sender that has encoded the message of the promotion.
The people who come into the dealership to test-drive a vehicle are acting as the receivers (decoders) in the communication model. They receive the message from Chevrolet (through advertising or other forms of communication), decode it, and then respond to the message by taking action in this case, by visiting the dealership for a test drive to redeem the ski lift tickets.
The term encoder is not typically used to describe the receivers of a message. Instead, encoder refers to the originator of the message. Therefore, the people coming into the dealership are more accurately described as the receivers or decoders in the communication model. They decode the message they received about the promotion and then act upon it by engaging with the dealership.
In summary, the people coming into the dealership to test-drive a vehicle are the receivers (decoders) in the communication model, not the encoders. The encoder in this scenario is Chevrolet, which created and sent out the promotional message.
In year 2, Kilroy Company purchased land for a new office building at a purchase price of $325,000. There was an existing building on the site that was demolished at a cost of $12,000. Scrap from the demolition was sold for $3,500. The building was completed during year 2. In addition, the following costs were incurred:
Answer:
c. $ 359,000 $ 1,323,000 $ 0
Explanation:
The computation of given question is shown below:-
Total cost of land = Purchase cost + Demolition Cost + Cost of Attorneys for the Purchase Contract + Grading Cost - Scrape Sold
= $325,000 + $12,000 + $7,500 + $18,000 - $3,500
= $359,000
Total cost of building = Cost of Architect Design + Cost of Building Permits + Cost of Construction of Building
= $40,000 + $8,000 + $1,275,000
= $1,323,000
There are no costs to be reported as expenses because all expenditures have to be capitalized.
A county accounts for its debt service payments in the General Fund. The amount of unmatured, unpaid interest on general long-term liabilities at the beginning of the year was $122,000 (listed on the LTL Schedule). The ending balance was $165,000. The General Fund also made principal payments of $600,000 and interest payments of $150,000 during the year. The General Fund should report expenditures for debt service for the year of:
$150,000
$722,000
$750,000
$793,000
Answer:
The correct option is $750,000
Explanation:
A county uses the modified accrual basis of accounting for revenue and expenditure which implies that revenue and expenditure do not show up in the county's books of accounts except for those ones actually received and paid in the period under consideration.
As a result,the expenditures for the debt service year are those actually paid which comprises of the principal repayment of $600,000 and interest payment of $150,000,totalling $750,000($600,000+$150,000)
Answer:
$750,000
Explanation:
The reason is that the amount paid includes the paying off the long term liability which must be decreased with the amount paid $600,000 and the interest expenditure must also be reported as an Finance cost liability decrease for the year with the amount paid $150,000.
So the general fund that must be reported as expenditure is $750,000.
Which pricing strategy simplifies the pricing decision by pricing different products in a product line at different price points depending on their quality, features, and cost dash for example, good (basic), better (upgraded), and best (premium)?
Answer:
Price lining
Explanation:
Price lining can also be called product line pricing, it is a marketing strategy where a business prices its offerings according to the quality, features, or attributes to differentiate it from other similar offerings.
In other words, price lining is a process of grouping similar offerings under different price brackets, each varying slightly by the quality features, or attributes on offer. These brackets usually tend to start low and go higher in price.
Emporia Corporation is a lessee with a finance lease. The asset is recorded at $900,000 and has an economic life of 8 years. The lease term is 5 years. The asset is expected to have a fair value of $300,000 at the end of 5 years, and a fair value of $100,000 at the end of 8 years. The lease agreement provides for the transfer of title of the asset to the lessee at the end of the lease term. What amount of amortization expense would the lessee record for the first year of the lease
Answer:
$100,000
Explanation:
Calculation of Depreciation expense:
Depreciation expense that lessee record for the first year of the lease = 900,000-100,000
= 800,000/8 = 100,000
Amount of Depreciation expense that lessee record for the first year of the lease = 100,000
Final answer:
To calculate the amortization expense for the first year of the lease, divide the difference between the asset cost and residual value by the economic life. Then, divide the annual depreciation expense by the number of years in the lease term to find the amortization expense for the first year.
Explanation:
To calculate the amortization expense for the first year of the lease, we need to calculate the annual depreciation expense for the asset over its economic life. The formula for annual depreciation expense is (Asset Cost - Residual Value) / Economic Life. In this case, the asset cost is $900,000 and the residual value at the end of 5 years is $300,000. Therefore, the annual depreciation expense is ($900,000 - $300,000) / 8 = $75,000.
Since the lease term is 5 years, the first year would represent 1/5th of the total lease term. Therefore, the amortization expense for the first year would be 1/5th of the annual depreciation expense, which is $75,000 / 5 = $15,000.
When Coca-Cola launched its new Diet Coke flavors, it generated a fair amount of social media buzz with many consumers commenting on the flavors on social media . The amount of user generated social media is a type of __________________________.
Answer:
Earned media
Explanation:
Earned media is when your brand is being spoken of, your content is being shared by customers, and the public including the media by words of others without you paying for the publicity.
The new diet Coke created a buzz on social media but not by any form of advertisement from the Coca-Cola company. The consumers provided the publicity.
Answer:
The amount of user generated social media is a type of earned media.
Explanation:
Earned media describes the publicity which a brand like Diet Coke Flavors gets through the word of mouth or public discussion about it rather than traditional paid advertising media.
This kind of publicity or recognition can take the form of product/brand reviews by a journalist or social media discussions by consumers who have interests in the brand. Their efforts would publicize the brand without the company paying for it like traditional paid advertising media.
There are a variety of types of conflict that can occur among channel members. If a hardware store down the street from our ice cream shop starts selling the same brand of ice cream as we do, there is likely to be conflict. This is a good example of:__________
1. Vertical conflict
2. Producer vs. wholesaler conflict
3. Conflict caused by disintermediation unfair competition
4. Conflict caused by the hardware store adopting "scrambled merchandising" marketing.
Answer:
conflict caused by the hardware store adopting "scrambled merchandising" marketing.
Explanation:
Scrambled merchandising occurs when a shop sells a good that is not the usual type of products it sells. A store owner may adopt scrambled merchandising to utilise unused space or to increase bottom line.
When a store owner sells many unrelated goods it gives the buyer the impression that the seller does not specialise in a particular type of product.
The conflict in this case arises through scrambled merchandising. A hardware store starts to sell ice cream like our own business.
Goods X and Y are complementary goods. A decrease in price of good X has occurred. In the market for good Y, this will lead to a decrease in price and a decrease in quantity. an increase in price and an increase in quantity. an increase in price and a decrease in quantity. a decrease in price and an increase in quantity.
Answer:
a decrease in price and an increase in quantity.
Explanation:
Complementary good is a good wherein its use has an association with its complement . Goods are said to be complementary when the usage of good X requires more usage of good Y.
Example of complementary good is DVD player and a DVD disc. If there is an increase in price of DVD player, then there would be a decrease in price and quantity demanded for a DVD disc.
It therefore means that complementary goods are goods that are jointly consumed together.
A decrease in the price of a complementary good X will result in a decrease in the price and quantity of good Y.
Explanation:In the market for complementary goods, a decrease in the price of one good affects the demand and price of the other good. In this case, if there is a decrease in the price of good X, the demand for good Y will decrease. This leads to a decrease in the price of good Y and a decrease in its quantity.
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Oreva, a multinational corporation, pays $100,000 per year to an information technology firm to archive and secure all of its data into the information technology firm's cloud platform. In this scenario, the cost incurred by Oreva is an example of _____.
The question is incomplete, it lacks options.
A) storage cost
B) processing cost
C) acquisition cost
D) retrieval cost
Answer:
Storage cost.
Explanation:
Storage cost can be defined as the amount of money that is spent on storing or holding inventory. Inventory can be defined as unsold goods and services which a business keeps in a warehouse for resale in the nearest future.
It is very essential for companies to keep storage of raw materials, finished products and various machines assemblage. The costs incurred in keeping these materials, maintenance of warehouse and security personnel is known as storage costs.
Hager Company's accountant calculates the company's basic EPS. In addition to common stock, the company also has nonconvertible, noncumulative preferred stock outstanding. No dividends were declared during the current year. When calculating EPS, the accountant should
Answer:
B) ignore the preferred stock dividends when calculating the numerator.
Explanation:
The formula used to calculate earnings per share (EPS) = (net income after taxes - preferred dividends) / average outstanding common stocks.
Since no preferred stock dividends were declared this year, then their value on the EPS formula is $0, so you could basically ignore them since any number minus 0 is the same number.
EPS = net income after taxes / average outstanding common stocks
Answer:
ignore the preferred stock dividends when calculating the numerator
Explanation:
Hager Company's accountant calculates the company's basic EPS. In addition to common stock, the company also has nonconvertible, noncumulative preferred stock outstanding. No dividends were declared during the current year. When calculating EPS, the accountant should IGNORE THE PREFERRED STOCK DIVIDENDS WHEN CALCULATING THE NUMERATOR.
Earnings per share (EPS) is calculated as a company's profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company's profitability.
First-mover disadvantages refer to:__________
A. disadvantages associated with entering a foreign market before other international businesses.
B. costs that a late entrant to a foreign market has to bear.
C. a direct restriction on the quantity of a good that can be imported into a country.
D. imperfections in the operation of the market mechanism.
E. disadvantages experienced by being a late entrant in a foreign market.
Answer: A. disadvantages associated with entering a foreign market before other international businesses.
Explanation:
First-mover disadvantages refer to:__________
A. disadvantages associated with entering a foreign market before other international businesses.
First-mover is an individual or organisation that makes an entry into the market first.It has advantages and disadvantages as a First moverone advantage is establish a brand to customersone disadvantage is ssociated with entering a foreign market before other international businessesAnswer:
Option A.
Explanation:
A first mover can be referred to as a service or product that gains a competitive advantage by being the first to enter a particular market with a product or service. Being a first-mover can enable a company to establish a strong brand recognition, and gain customer loyalty before competitors can enter the market. Another advantage is that a producer has enough time to perfect his/her product or service before the appearance of competitors, and also setting the market price for the innovative commodity.
However, there can also be disadvantages which are linked to entering a foreign market before other international businesses, and they can be referred to as first-mover disadvantages. These disadvantages may manifest in the form of pioneering costs, which are the costs that an early entrant must bear, but a later entrant can avoid.
An echocardiogram on a one day-old infant with refractory hypoxemia finds no evidence of congenital heart disease but reveals right-to-left shunting through a patent ductus arteriosus, tricuspid valve regurgitation and an enlarged right ventricle. Which of the following is the most likely problem?
Answer:
The answer is persistent pulmonary hypertension of the newborn (PPHN).
Explanation:
Persistent pulmonary hypertension of the newborn (PPHN) can be defined as situation in which there is a failure of the normal circulatory transition that takes place after birth. It is a syndrome that is characterized by marked pulmonary hypertension that causes hypoxemia secondary to right-to-left shunting of blood at the foramen ovale and ductus arteriosus.
Persistent pulmonary hypertension of the newborn (PPHN) occurs when the pressure in the blood vessels supplying the lungs of a newborn baby remains high after birth. The pulmonary arteries are narrowed, reducing blood flow through the lungs and causing the pressure to be naturally high. What this means is that PPHN happens when a newborn's circulation system doesn't adapt to breathing outside the womb because while in the womb, the fetus receives oxygen through the umbilical cord, therefore, the lungs need little blood supply.
"The most likely problem is persistent pulmonary hypertension of the newborn (PPHN).
The clinical presentation of refractory hypoxemia in a one-day-old infant, along with the echocardiogram findings of right-to-left shunting through a patent ductus arteriosus (PDA), tricuspid valve regurgitation, and an enlarged right ventricle, is highly suggestive of persistent pulmonary hypertension of the newborn (PPHN). PPHN is characterized by the failure of the normal circulatory transition at birth, where the pulmonary vascular resistance (PVR) remains elevated, leading to right-to-left shunting of blood and subsequent hypoxemia.
In a healthy transition from fetal to neonatal circulation, the PVR decreases after birth, allowing for increased blood flow to the lungs for gas exchange. However, in PPHN, this decrease in PVR does not occur, and as a result, blood is shunted away from the lungs through the PDA or foramen ovale, leading to severe hypoxemia. The right-to-left shunting through the PDA and the enlarged right ventricle indicate that the right side of the heart is working harder to overcome the elevated pulmonary pressures. Tricuspid valve regurgitation can also occur as a consequence of right ventricular dysfunction or dilatation due to the increased workload.
The absence of congenital heart disease on the echocardiogram helps to rule out structural heart defects as the primary cause of the hypoxemia and shunting. Instead, the findings are consistent with PPHN, which is a functional disorder of the pulmonary circulation. Treatment of PPHN typically involves supportive care, optimization of ventilation, and sometimes the use of pulmonary vasodilators, such as inhaled nitric oxide, to reduce the PVR and improve oxygenation."
Cash Budget is:
detailed plan showing how cash resources will be acquired and used over a specific period of time B. a detailed plan that shows the direct labor hours required to fulfill the production budget C. a detailed plan for the future that is usually expressed in formal quantitative terms D. a detailed plan showing the number of units that must be produced during a period in order to satisfy both sales and inventory needs.
Answer:
A. detailed plan showing how cash resources will be acquired and used over a specific period of time
Explanation:
Cash budget is a type of budget that accounts for the expected cash received and disbursed during a period of time. it is a plan that indicates how inputs used in the production process will be acquired and used over a specific period of time. it shows an organization cash inflow and cash outflow over a specified period of time. it gives an insight to the company status on its cash position at any point in time. it shows the estimated projections of an organization's cash position in the future.
Answer:
A detailed plan showing how cash resources will be acquired and used over specific period of time.
Explanation:
A cash budget can be defined as the measurement of the amount of money that is present in an organization. A cash budget can also be described as a planning tool that is used to estimate the amount of money that flows into and out of the company.
A cash budget enables an organization to become more resourceful and also avoid incurring a large amount of debt. A cash budget also gives an outline of how much money an organization makes within a specific period of time.
Gordon Ltd., a 100% owned British subsidiary of a U.S. parent company, reports its financial statements in local currency, the British pound. A local newspaper published the following U.S. exchange rates to the British pound at year end:
Current rate $1.50
Historical rate (acquisition) $1.70
Average rate $1.55
Inventory (FIFO) $1.60
Which currency rate should Gordon use to convert its income statement to U.S. dollars at year end?
Answer:
Average rate = $1.55
Explanation:
Normally all companies use the current rates for the transaction, revenue department and profit loss, but it is not fair to use the same current rate on different dates.
Therefore, businesses usually use average exchange rates to overcome these kinds of shortcomings.
Therefore in this example, it would be appropriate to use the average exchange rates by the parent company to find the income of the subsidiary.
What scenarios would cause the u.S. Short-run aggregate supply curve to shift to the left?
The U.S. short-run aggregate supply curve can shift to the left due to events such as shocks to labor market, decline in aggregate demand, or a pandemic that impacts the workforce.
Explanation:There are various scenarios that could cause the U.S. short-run aggregate supply (SRAS) curve to shift to the left. One scenario involves shocks to the labor market. This could happen, for instance, if a large number of workers are required to cease their ordinary production in an event like an overseas war, leading to fewer workers available to produce goods at any given price.
Another scenario that can cause the SRAS curve to shift to the left is a decline in aggregate demand. This can occur if consumer confidence decreases, leading to less consumption and more saving, which can cause a decline in output and a rise in unemployment.
Lastly, a pandemic, such as COVID-19, can also cause a leftward shift to the SRAS curve as many workers may become sick or cautious to go back to work because of health or safety concerns.
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Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the A. supply of Dell computers increases. B. demand for Apple computers decreases. C. demand for Dell computers increases. D. demand for Apple computers increases.
Answer:
B. demand for Apple computers decreases.
Explanation:
If two things are substitute of each and other, that generally in simple words means either this or this. As we can see in the statements that has been provided in the question that Dell and Apple computers are substitute of each other, so if the amount from Dell computer decreases then the demand of the computers made by Apple company will absolutely decrease.
Because two devices which carries almost same qualities and features are also substitute of each other, if price of one device from the both substitutes will decrease, everyone will rush to buy the device with low price and the device with high price will get less popular among the consumers. So, this is the reason which says OPTION(B) is the correct answer.
Final answer:
A decrease in the price of Dell computers, which are viewed as substitutes for Apple computers, leads to an increased demand for Dell computers and a decreased demand for Apple computers. This is demonstrated by a rightward shift in the demand curve for Dell and a leftward shift for Apple in supply and demand diagrams.
Explanation:
When considering the effect of a price decrease for Dell computers, which are substitutes for Apple computers, it is essential to understand the basic principles of supply and demand. A decrease in the price of Dell computers does not affect the supply of Dell computers; rather, it affects the quantity supplied at a given price due to potential changes in production scales or sales strategies by the manufacturer or retailers. The correct answer is B. demand for Apple computers decreases.
As the price of Dell computers falls, consumers view Dell as a more attractive option compared to Apple computers. Consequently, the demand for Dell computers increases because they are a better deal relative to the now comparatively more expensive Apple computers. This situation reflects a substitution effect where consumers opt for the cheaper alternative, leading to a decrease in demand for the substitute, in this case, Apple computers.
An illustration through supply and demand diagrams would show a rightward shift in the demand curve for Dell computers, indicating an increase in demand. Conversely, the demand curve for Apple computers would shift leftward, showing a decrease in demand for Apple computers as consumers switch to the now cheaper Dell computers.
Which of the following fundamental responsibilities is not correct? a. The controller notifies the business reporting department of various adjusting entries b. Adjusted trial balance figures are sent from the business reporting department to the financial reporting officer c. The treasurer notifies the business reporting department of investing and financing transaction activities d. Detailed reporting of daily production is sent to the president
Answer:
d. Detailed reporting of daily production is sent to the president
Explanation:
Fundamental responsibilities involves process in which the controller notifies the business reporting department of various adjusting entries, which are sent to the financial reporting officer as adjusted trial balance figures.
The treasurer notifies the business reporting department of investing and financing transaction activities.
Vandelay Industries has discovered a defect in one of its products that may result in injury to users. The company believes it must quickly develop and implement a recall program.
It is likely that Vandelay soon will be placing a great deal of emphasis on _________.
A. reverse logistics
B. inbound logistics
C. materials handling
D. third-party logistics
Answer:
A. Reverse logistics
Explanation:
Reverse logistics has to do with the return of a product to the manufacturer/producer or distributor for either servicing, refurbishment or recycling. With the defect discovered, Vandelay can use reverse logistics in getting the products back in order to fix the defects in the products. Reverse logistics also refers to activities conducted after the sale of a particular product to recapture the product value or/and end the life cycle. It involves reusing of products and materials.
Answer: C. materials handling
Explanation: Material handling is used to ensures an increase in safety from permanent and temporary disabilities. Materials handling involves the movement of a material during manufacturing, distribution (warehouse), or office environment. Materials handling also takes place during preparation for shipment.
A consumer decides to purchase a new automobile for the first time in 10 years. The price the consumer paid 10 years ago for a new midsize sedan was $18,000. The new sticker price for a similar automobile is now $26,000. The consumer decides that the new automobile is simply too expensive compared to the sedan purchased 10 years ago. Which heuristic likely influenced the consumer's decision?
anchoring and adjustment heuristic
confirmation error
associative play
Answer:
anchoring and adjustment heuristic
Explanation:
Anchoring and adjustment heuristic is defined as the psychological way in which people asses probabilities. It states that people have a reference or anchor and the make adjustments to it in otlrder to reach an estimate.
The anchor is the price that the customer paid 10 years ago. That is $18,000. However the sticker price is $26,000.
The consumer feels this is too far away from his anchor from 10 years ago.
Answer:
anchoring and adjustment heuristic
Explanation:
A large portion of our important and significant consumer decisions (mostly shopping products) are influenced by anchoring and adjustment heuristics. When we are looking for some expensive good which we generally do not purchase very often, we always anchor our perception of the good to any prior experience with it and then adjust our prior experience to our current environment.
In this case, the customer's reference price was the price he paid for a "similar" car 10 years ago and refuses to pay a higher price for a current model regardless that cars have changed a lot during the last 10 years. He didn't adjust his past reference (anchor) to how much cars have changed and how much value the currency has lost.
Before Kimberly Campbell opened her jiffy print store, she processed several large print jobs for local merchants for free, to demonstrate the quality of her service and to solicit feedback. Two of the merchants wrote favorable reviews of Kimberly's service, and agreed to let Kimberly post the reviews on her company's Web site. The companies that wrote the favorable reviews are referred to as ________.
Answer:
In this case, the answer would be Referent Accounts.Explanation:
In this case, couple of merchants agreed to let Kimberly publish or display the positive reviews of Kimberley's service on her company website.Now, these positive reviews can imply the high service quality provided by Kimberly in the market and enhance her company's market reputation and goodwill.Therefore, the positive reviews and feedback given by the two merchants in this case,can be used as a positive reference to attract other merchants which can induce higher customer inflow for Kimberley's business. Hence, these positive reviews and feedback are basically referring to the high quality service and customer satisfaction achieved by Kimberley's business which can be a factor that can potentially enhance the market share of her business.The companies that wrote the favorable reviews for Kimberly Campbell's print store are referred to as early adopter customers or testimonials. They provided social proof of her service's quality, aiding in establishing her business reputation.
Explanation:The companies that wrote the favorable reviews for Kimberly Campbell's print store are referred to as early adopter customers or testimonials. These companies are essentially offering social proof of the quality of Kimberly's service. Social proof, such as testimonials and online reviews, is an impactful marketing strategy that can significantly influence consumer decisions.
This is especially true in today's interconnected world where many consumers rely on online reviews to gauge the quality of a business, product, or service. By sharing their positive experiences with Kimberly's print store, these merchants helped establish her reputation in the industry which is of paramount importance. A good reputation not only attracts repeat customers but also instills confidence in potential customers about the quality of service they can expect from her business.
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During August, 2018, Baxter’s Supply Store generated revenues of $60,000. The company’s expenses were as follows: cost of goods sold of $36,000 and operating expenses of $4,000. The company also had rent revenue of $1,000 and a gain on the sale of a delivery truck of $2,000. Baxter’s net income for August, 2018 is Group of answer choices $21,000. $24,000. $23,000. $20,000.
Answer:
$23,000
Explanation:
The Net income of the company can be found from the following formula:
Net Income = Revenue - Cost of goods sold - Operating Expense + Rental Income + Gain on Sale
Here
Revenue generated is $60,000
Cost of goods sold is $36,000
Operating expenses are $4,000
Rental Income is $1,000
Gain on sale of the delivery Truck is $2,000
By putting values in the equation, we have:
Net Income = $60,000 - $36,000 - $4,000 + $1,000 + 2,000
Net Income = $23,000
Sidney took a $150 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived.
a.
What was the cash advance fee? (Round your answer to 2 decimal places.)
Cash advance fee $
b.
What was the interest for one month at an APR of 16 percent? (Round your answer to 2 decimal places.)
Interest $
c. What was the total amount she paid? (Round your answer to 2 decimal places.)
Total amount $
d.
What if she had made the purchase with her credit card and paid off her bill in full promptly? Assume the credit card has a grace period. (Round your answer to 2 decimal places.)
Amount paid $
9.
What are the interest cost and the total amount due on a six-month loan of $1,200 at 13 percent simple annual interest?
10.
After visiting several automobile dealerships, Richard selects the car he wants. He likes its $13,500 price, but financing through the dealer is no bargain. He has $2,700 cash for a down payment, so he needs an $10,800 loan. In shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. That is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. Richard borrows $10,800 for a period of five years at an add-on interest rate of 11 percent.
a.
What is the total interest on Richard’s loan?
Total interest $
b.
What is the total cost of the car?
Total cost $
c. What is the monthly payment?
Monthly payment $
d.
What is the annual percentage rate (APR)? (Enter your answer as a percent rounded to 2 decimal places.
APR %
Interest cost $
Total amount due $
Answer:
A.) 3%; B.) 2% ; C) $155; D) $150
9) $78 ; $1278
10) a) $5940; b) $19440; c) $279; D) 21.64%
Explanation:
Amount = $150
Cash advance rate = 2% = 0.02
A.) cash advance fee = $150 × 0.02 = $3
B.) Interest for one month at APR of 18%
Interest = principal × time × rate
$150 × (1÷12) × 0.16 = $2.00
C.) Total amount paid
$(150 + 3 + 2) = $155
D.) $150
9.)
Interest = principal × rate × time
t = 6 months = (6/12)
Rate (r) = 0.13
Principal = $1200
Interest = $1200 × 0.13 × 0.5 = $78
Total amount = down payment + principal borrowed + interest
Total amount = 0 + $1200 + $78 = $1,278
10.)
Price = $13,500
Down payment = $2700
Loan required = $10,800
Add-on rate = 11% = 0.11
Period = 5 years
A.) Interest = $10,800 × 0.11 × 5 = $5,940
B.) Total cost = Down payment + Principal borrowed + interest paid
$2700 + $10,800 + $5940 = $19,440
C.) Monthly Payment = (Principal Borrowed + Total interest) / Total number of payments
Monthly Payment = ($10800+ $5940) / (12×5)
Monthly payment = $16740 ÷ 60 =$279
D.) Annual percentage rate (APR)
APR= (2 × n × I) / [P × (N + 1)]
APR = (2 × 12 × 5940) / [10800 × (60+1)]
APR = 142560 ÷ 658800
APR = 0.21639
APR = 21.64%
Mandy's Muffins, Inc., makes a profit in 2015. The managers of Mandy's Muffins, Inc., decide to distribute the profits to the corporation's shareholders in proportion to the number of shares held. The profits distributed to the shareholders are known as:
Answer:
Dividend.
Explanation:
The managers of Mandy's Muffins, Inc., decide to distribute the profits to the corporation's shareholders are known as a dividend. A dividend is a part of the profits and retained earnings of the company that shared among its shareholders. The value of the dividend is determined on a per-share basis and is to be shared among the shareholders equally of the same class.
What is the return on common stockholdersâ equity based on the following: Beginning Common Stockholdersâ Equity: $10,317,000 Ending Common Stockholdersâ Equity: $10,662,000 Net Income: $1,429,000 Preferred Stock throughout the year: 6%, $75 par (8,000 shares authorized, issued, and outstanding).a:
Answer:
13.28%
Explanation:
return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity
net income = $1,429,000preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%
Managers should consider doing all of the following to develop a strong culture for a unit EXCEPT A Option A: stress a concern for the management over rules and procedures. B Option B: talk about heroes of the past and their contributions, develop rituals and ceremonies for the members. C Option C: promote the sharing of ideas of information. D Option D: emphasize a shared understanding of what the unit stands for. E Option E: reinforce informal rules and expectations consistent with shared values.
Answer: A. stress a concern for the management over rules and procedures.
Explanation: To develop a strong culture in the unit managers should consider doing the following;
1. Talk about the past heroes, their impact, contribution and achievements
2. Promote the concept of sharing information and ideas among members of its unit
3. Emphasis the shared understanding of what the unit represent.
Advertising refers to any paid form of personal communication about an organization, product, service, or idea by an identified sponsor. any nonpaid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. any paid form of nonpersonal communication about an organization, product, service, or idea by an unidentified sponsor. any nonpaid form of personal communication about an organization, product, service, or idea by an unidentified sponsor. any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor.
Advertising refers to any paid form of personal communication by an identified sponsor to promote and persuade target audiences. It includes mediums like television commercials, print ads, and online banners.
Advertising refers to any paid form of personal communication about an organization, product, service, or idea by an identified sponsor. It is a nonpersonal form of communication that aims to promote and persuade target audiences. For example, television commercials, print ads, and online banners are all forms of advertising.
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Advertising is any communication, paid or unpaid, that promotes a company, product, service or idea. A successful campaign can differentiate a product from its competitors, and can cause an increase in demand or price. The ethics of advertising, such as disclosure of paid ambassadorships, are also important.
Explanation:Advertising refers to any form of communication, paid or unpaid, aimed at promoting an organization, product, service, or idea. It is a crucial aspect of businesses, enabling them to differentiate their offerings from competitors'.
With advances in technology and changing media landscape, advertising strategies have evolved over time, shifting from traditional forms such as TV and print media ads to more sophisticated online and digital formats. Businesses have had to adapt to these changes by seeking innovative ways to reach their target audiences.
An advertising strategy can impact a company's perceived demand, either by making the demand for its product more inelastic or by increasing the product's demand. This could result in the company being able to sell greater quantities or charge higher prices, thereby increasing profits. Such strategies often involve differentiation, where businesses convince potential customers that their products are unique or superior to those of competitors.
Responsibility and ethics are also vital in advertising. There has been an ongoing debate concerning whether paid ambassadors should disclose their relationships with the companies they represent.
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An entity has failed to provide documentation for a newly acquired material asset and informs its auditors that the documentation is lost. According to generally accepted government auditing standards, what would this situation typically indicate to the auditors?
Answer:
The answer is a heightened risk of fraud
Explanation:
When this (the scenario in the question) happens, it is a red flag and a fraud is likely to have happened and the auditor should treat this as a high risk.
Management intention might be to conceal a material information inorder to pepetrate fraud or the truth might be that the documents for the acquisition is truly lost.
The auditor should also consider the materiality of this event when forming their opinion on the financial statement
In a nutshell, this case poses a risk of fraud.
Srishti wants to start a restaurant of her own. As she does not have any savings, she approaches her bank for money and enters an agreement with the bank. According to the agreement, the bank agrees to lend her $5,000 upon request, provided it has sufficient funds to loan the amount. In this scenario, the type of funding obtained by Srishti can be regarded as a _________.
Answer:
Line of credit.
Explanation:
A line of credit is a loan that is issued by the bank to the customer. This type of loan can be withdrawn at any period of time by the customer.
A line of credit is a type of loan that can be used as a credit card. It is possible for a customer to withdraw money up to a maximum amount when needed, pay back and then withdraw the money again.
A line of credit enables the customer to borrow money without paying a high amount of interest. This type of loan can be used at any time without any form of restriction.
Answer:
Line if credit
Explanation:
Line of credit (LOC) refers to the total amount of money in which a bank has agreed to lend you at a specific interest rate to be paid at a particular period of time. It is agreement between a bank or credit union that state the maximum amount of loan a customer is eligible to.
The borrower can take loan from the financial institution as many times as possible as long as it is still within the maximum limit reached in the agreement coupled with prompt payment of loan. Line of credit is an open-end credit account, which allows borrowers to spend the money, repay it, and spend it again in a continuous cycle.
The lender(financial institution) is responsible for setting the maximum amount of loan, interest rate, payment rate, duration of loan and other things.
The type of funding obtained by Srishti from the bank is called line of credit.
Big Mike's Health Food Store sells nutritional energy foods. The price of the products sold varies according to individual customer accounts and situations. For example, long-time customers receive discounts. This strategy is an example of ________.
Answer:
The answer options to this question would be the following:
a. price elasticity
b. cost-plus pricing
c. dynamic pricing
d. value pricing
e. penetration pricing
The correct answer is: c. dynamic pricing .
Explanation:
The dynamic price is a sales strategy in which the price of a certain product or service is set according to the reference variables that a company has, with the main objective of obtaining the highest possible profitability. With this strategy, the cost varies depending on the offer and the demand, that is, a client can pay higher or lower prices for the same product or service according to the circumstances, such as time of year, special dates, interest in the product, among others.