Answer:
I believe it's "a decrease in income if good X is an inferior good"
Explanation:
If the price is decreased people are more likely to buy it. If people have more money they are more likely to buy more thinks including good X. An increase in popularity with good X is sure to make more people want to buy it, so the second option is the only one that really makes sense.
Final answer:
A decrease in the price of good X will not cause an increase in demand; rather, it affects the quantity demanded. An increase in demand for inferior goods occurs with a decrease in income, whereas for normal goods, it occurs with an increase in income.
Explanation:
The factor that will not cause an increase in demand for good X is a decrease in the price of good X. Changes in price affect the quantity demanded, not the demand curve itself. On the other hand, factors such as a decrease in income, if good X is an inferior good, an increase in income if good X is a normal good, or an increase in the popularity of good X with consumers, can all influence the demand for a good. Specifically, for inferior goods, demand tends to increase when income decreases because these are goods consumers resort to when their spending power is limited. In contrast, demand for a normal good increases when income rises, reflecting a greater willingness to purchase higher-quality or more desirable items as one's budget allows.
Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and owned by Earle Martin. During the past month, Tiny Town Kennel has the following transactions:
a) Received $520 cash for service revenue earned.
b) Paid $325 cash for salaries expense.
c) Martin contributed $1,000 to the business in exchange for capital.
d) Earned $640 for service revenue, but the customer has not paid Tiny Town Kennel yet.
e) Received utility bill of $85, which will be paid next month.
f) Martin withdrew $100 cash.
Indicate the effects of the business transactions on the accounting equation for Tiny Town Kennel.
Transaction (a) is answered as a guide. a. Increase asset (Cash): Increase equiy (Service Revenue)
Answer:
a) Increase asset (Cash): Increase equity (Service Revenue) - GUIDE
b) Decrease equity (Salaries): Decrease asset (Cash)
c) Increase asset (Cash): Increase equity (Capital)
d) Increase asset (Receivable Accounts): Increase equity (Service Revenue)
e) Decrease equity (Utility): Increased liabilities (Others payable accounts)
f) Decrease equity (Capital): Decrease assets (Cash)
Explanation:
Accounting Equation Formula :
Assets = Liabilities + Equity
According to the formula transactions must be recorded as follows:
DEBIT: Asset increases, Liabilities decreases, and Equity decrease.
CREDIT: Asset decreases, Liabilities increases, and Equity increase.
Transaction (a) increases assets and equity, while the remaining transactions have various effects on the accounting equation.
Explanation:Transaction (a) has already been answered. Let's analyze the effects on the accounting equation for the remaining transactions:
(b) Decrease asset (Cash): Decrease equity (Salaries Expense)(c) Increase asset (Cash): Increase equity (Capital)(d) Increase asset (Accounts Receivable): Increase equity (Service Revenue)(e) No effect on the accounting equation since it is a liability that will be paid in the future.(f) Decrease asset (Cash): Decrease equity (Withdrawals)By analyzing the transactions, we can see the effects on the accounting equation for each transaction, which allows us to track the changes in the financial position of Tiny Town Kennel.
On January 1, 2018, Bangle Company purchased 30% of the voting common stock of Sleat Corp. for $1,000,000. Any excess of cost over book value was assigned to goodwill. During 2018, Sleat paid dividends of $24,000 and reported a net loss of $140,000. What is the balance in the investment account on December 31, 2018?
Answer:
The balance in the investment account on December 31, 2018 is $950,800
Explanation:
The computation of the balance in the investment account is shown below:
= Common stock value - net loss - dividend amount
where,
Common stock is $1,000,000
Net loss = Net loss × percentage rate
= $140,000 × 30%
= $42,000
And, the dividend equals to
= dividend × percentage rate
= $24,000 × 30%
= $7,200
Now put these values to the above formula
So, the answer would be equal to
= $1,000,000 - $42,000 - $7,200
= $950,800
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $55,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2017. On that date, the following financial items for the year were determined: cash on hand and in the bank, $50,500; amounts due from customers from sales of books, $28,500; equipment, $54,000; amounts owed to publishers for books purchased, $9,000; one-year notes payable to a local bank for $5,250. No dividends were declared or paid to the stockholders during the year.
Assuming that Reader Direct generates net income of $6,000 and pays dividends of $3,600 in 2018, what would be the ending Retained Earnings balance at December 31, 2018?
This is the problem I have been given, and I've gotten to this point. I am just very confused on the Ending RE and Beginning RE.
So far I have
ENDING RE = BEG RE + Net Income- Dividends
________ = _______ + 6,000 - 3,600
Answer:
The ending retained earning would be $2,400
Explanation:
For computing the ending retained earnings balance, we have to use the formula which is shown below:
Even in the question, the formula is given so we use it
Ending retained earnings = Beginning retained earnings + net income - dividend
Ending retained earnings = 0 + $6,000 - $3,600
In the question, the beginning retained earnings balance is not given so we assume zero balance
So, the ending retained earnings would be $2,400
A Lord & Taylor house brand cashmere sweater retails for $99. A very similar sweater with a Ralph Lauren label sells for $219. The difference between the price of the high-end label product and the private brand product is called
b. reverse equity.c. salience.d. brand differential.
Answer:
Revenue premium
Explanation:
Revenue premium is a difference in revenue between a branded good and private labeled good
Revenue premium is useful product market measure of brand equity
Final answer:
The difference in price between a high-end label product and a private brand product, like the Ralph Lauren and Lord & Taylor cashmere sweaters, is called brand differential. This price difference is attributed to the perceived value or brand equity associated with the high-end label.
Explanation:
The difference between the price of the high-end label product and the private brand product is referred to as brand differential. This concept illustrates the added value a brand name can bring to a product. For example, a Lord & Taylor house brand cashmere sweater retails for $99, while a very similar sweater with a Ralph Lauren label sells for $219. The $120 difference in price between these two items, which are nearly identical in terms of material and function, is attributed to the Ralph Lauren brand's perceived higher value or brand equity. Brand equity is influenced by various factors including quality perception, brand loyalty, and marketing efforts.
Companies invest in building their brand equity because it allows them to charge premium prices, as seen in the case of the Ralph Lauren sweater. The dynamics of brand equity suggest that it needs to be constantly replenished through advertising and maintaining quality to keep attracting consumers willing to pay a higher price for a labeled product over a similar no-brand or private label product.
The following are the transactions of Spotlighter, Inc., for the month of January. Borrowed $4,940 from a local bank on a note due in six months. Received $5,630 cash from investors and issued common stock to them. Purchased $2,000 in equipment, paying $700 cash and promising the rest on a note due in one year. Paid $800 cash for supplies. Bought and received $1,200 of supplies on account. Prepare a classified balance sheet for Spotlighter, Inc., as of January 31.
Final answer:
To prepare Spotlighter, Inc.'s balance sheet for January 31, the transactions need to be classified into assets, liabilities, and equity. After categorizing transactions such as borrowing money, issuing stock, and purchasing equipment, a structured balance sheet can be composed reflecting current assets, non-current assets, current liabilities, non-current liabilities, and equity.
Explanation:
Preparing Spotlighter, Inc.'s Classified Balance Sheet To create a classified balance sheet for Spotlighter, Inc. as of January 31, we need to organize the transactions that took place during the month of January. The balance sheet will be composed of assets, liabilities, and equity. Let's consider each transaction and its impact on the balance sheet:
Borrowed $4,940 from a local bank on a note due in six months (current liability).
Received $5,630 cash from investors and issued common stock to them (equity).
Purchased $2,000 in equipment, paying $700 cash and the rest on a note due in one year (non-current asset and non-current liability).
Paid $800 cash for supplies (current asset).
Bought and received $1,200 of supplies on account (current asset and current liability).
With these transactions in mind, the classified balance sheet would generally be structured as follows:
Assets Current Assets: Cash, Supplies
Non-current Assets: Equipment
Liabilities
Current Liabilities: Notes Payable (short-term), Accounts Payable
Non-current Liabilities: Notes Payable (long-term)
Equity Common Stock Note that actual amounts need to be calculated based on the transactions, for instance, cash would be increased by the loan and investment, then decreased by payments for equipment and supplies.
Pamela in Bamplona makes bull-repellent scent according to a traditional Spanish recipe, which normally sells at €9 (Euros) per unit. Normal production volume is 10,000 ounces per month. Average cost is €5 per ounce, of which €2 is direct material and €1 is variable conversion cost. This product is seasonal. After July, demand for this product drops to 6,000 ounces monthly. In November, Umberto offers to buy 1,500 ounces for €6,000. If Pamela accepts the order, she must design a special label for Umberto at a cost of €500. Each label will cost 25 cents to make and apply. Pamela should:
A. accept the order, at a gain of €625
B. reject the order, at a loss of €1,875
C. reject the order, at a loss of €2,375
D. accept the order, at a gain of €1,125
E. none of the above
Answer:
C. Pamela should reject the order, at a loss of € 2,375
Explanation:
The average cost of production is 5 euros per ounce. This implies that the production cost of 1500 ounces is: 1,500 * 5 = € 7,500. Apart from that, € 500 would have to be paid for the design of the labels and € 0.25 euros for making them and applying them (0.25 * 1,500 = 375 euros).
If we consider all these amounts we have:
Average cost of production: € 7,500
Cost of designing labels: € 500
Cost of making and applying labels: € 375
TOTAL COSTS = € 8,325
If Pamela decided to sell 1,500 ounces at € 6,000 she would lose: €8,325 -€6,000 = €2,325
Then, she shoud reject the offer.
After calculating the incremental costs and revenue, Pamela should accept the order from Umberto, which will result in a gain of €625.
Explanation:To decide whether Pamela should accept or reject Umberto's offer, we must calculate the incremental cost of the order, the incremental revenue, and compare the two to determine the incremental profit.
The special label design cost is a fixed cost and amounts to €500. The label production and application cost per unit is €0.25, thus for 1,500 units, the total cost would be 1,500 * €0.25 = €375. Therefore, the total label cost is €500 (fixed) + €375 (variable) = €875.
The variable cost for producing the bull-repellent scent is €3 per ounce (€2 for materials and €1 for conversion). For 1,500 ounces, the total variable cost is 1,500 * €3 = €4,500. Adding the label costs, the total cost for the order is €4,500 + €875 = €5,375.
Umberto offers to buy the 1,500 ounces for €6,000. The incremental profit is then calculated by subtracting the total cost from the revenue, which is €6,000 - €5,375 = €625. Therefore, Pamela should accept the order, as it will result in a gain of €625.
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Natcher Corporation collects 35% of a month's sales in the month of sale, 40% in the month following sale, and 20% in the second month following sale. The company has found that 5% of their sales are uncollectible. Budgeted sales for the upcoming four months are:
August budgeted sales $250,000
September budgeted sales $350,000
October budgeted sales $390,000
November budgeted sales $230,000
The amount of cash that will be collected in November is budgeted to be
I. $218,500
II. $138,000
III. $272,500
IV. $338,500
V. None of the above
Answer: Option (v) is correct
Explanation:
Given that,
Natcher Corporation collects,
35% of a month's sales in the month of sale
40% in the month following sale
20% in the second month following sale
5% of their sales are noncollectable
Budgeted sales are:
August budgeted sales = $250,000
September budgeted sales = $350,000
October budgeted sales = $390,000
November budgeted sales = $230,000
Amount of cash collected in November is budgeted:
= 35% of November sale + 40% of October sale + 20% of September sale
= 35% of $230,000 + 40% of $390,000 + 20% of $350,000
= $80,500 + $156,000 + $70,000
= $306,500
The state of Texas used to experience large-scale booms and busts related to price fluctuations within the petrochemical industry. Recently, however, the business climate has attracted many different types of companies to the state, and, as a result, the state has experienced _________ that has allowed other industries to take a more prominent role in Texas's economy.
Answer:
Economic Diversification
Explanation:
The method of moving an economy away from the central source of revenue to various sources from a increasing spectrum of industries and markets is called Economic Diversification.
As a strategy for encouraging favorable financial growth and development, it has traditionally been implemented.
Olivia bakes cakes and Andrew grows corn. Olivia and Andrew both like to eat cake and eat corn. In which of the following cases is it impossible for both Olivia and Andrew to benefit from trade?
a. Olivia cannot grow corn and Andrew cannot bake cakes.
b. Olivia is better than Andrew at baking cakes and Andrew is better than Olivia at growing corn.
c. Olivia is better than Andrew at baking cakes and at growing corn.
d. Both Olivia and Andrew can benefit from trade in all of the above cases.
Answer:
Both Olivia and Andrew can benefit from trade in all of the above cases.
Explanation:
Both Olivia and Andrew can benefit from trade in all of the above cases.
All given scenarios a, b, and c allow for mutually beneficial trade between Olivia and Andrew when applying the principles of comparative advantage and opportunity cost. Therefore, it is always possible for both parties to gain from trade. Option d is correct.
The question revolves around the concept of trade and comparative advantage between two individuals with different production abilities. The scenario presents Olivia who bakes cakes and Andrew who grows corn. They are both interested in consuming what the other produces. Looking at the options:
Option a suggests a situation where each individual cannot produce the other's product, which is a perfect situation for trade as they each have a unique product to offer.Option b demonstrates comparative advantage, where each party is most efficient at producing a particular good and will benefit from trade by specializing in their respective areas of expertise.Option c indicates that one party, Olivia, is better at producing both goods. However, the principle of comparative advantage may still allow for beneficial trade if Olivia's opportunity cost of producing both goods is considered. She may have a lower opportunity cost for one of the products.Option d implies that trade is always beneficial, which aligns with economic theories that suggest voluntary trade is mutually beneficial assuming that parties trade based on their opportunity costs.Therefore, the correct answer is Option d: Both Olivia and Andrew can benefit from trade in all of the above cases, provided they trade according to their comparative advantage.
_______ utility is the benefit marketing provides by transforming raw materials into finished products, as when a dress manufacturer combines silk, thread, and a zipper to create a bridesmaid's gown.
Answer: Form utility
Explanation: Form utility refers to the enhancement in the value of a commodity done by altering the product in one way or another. Form utility means making a product more usable for the consumers by modifying its physical appearance. Changing the wood into furniture is one of many examples of form utility.
Hence, from the above we can conclude that the right answer to this question is form utility.
Which of the following types of variances would a purchasing manager most likely influence?
a) Direct labor efficiency.
b) Direct materials price.
c) Direct labor rate.
d) Direct materials quantity.
Answer:
b) Direct materials price.
Explanation:
The purchasing manager would be associated to the quantity purchased and for the purchase price it is bought.
Therefore, labor variances are not his consideration.
And also in material variances we know, direct material quantity variance is calculated for the quantity used in production and not the quantity purchased, although the later is dealt by purchase manager the former relates to production manager.
Purchase manager is responsible and concentrates on the price at which the direct material is bought.
Thus, the correct option is
b) Direct materials price.
Silver Inc. is an S corporation. This year it earned $60,000 of taxable income and paid a $10,000 distribution to Daisy, its sole shareholder. Daisy has a marginal tax rate of 24%. Due to thecorporation's results and the distribution paid, the IRS will receive total taxes of A. $14,400. B. $27,000. C. $9,000. D.$14,100.
Answer:
$14,400
Explanation:
Given:
Total taxable income = $60,000
Total distribution paid to the Daisy = $10,000
Marginal tax rate = 24%
Now,
the total taxed received by the IRS
= Total taxable income × Marginal Tax rate
or
the total taxed received by the IRS = $60,000 × 24%
or
the total taxed received by the IRS = $14,400
Hence, the answer is option (a)
A General Electric employee was fired after he reported allegations of Foreign Corrupt Practices Act violations in Iraq to his supervisor and GE Energy's ombudsperson. This can be the unfortunate outcome when one becomes a
a whistle-blower.
b capitalist.
c scab.
d corporate spy.
e stakeholder.
Answer:
The correct answer is a. whistle-blower.
Explanation:
A complainant is any person who raises a concern about an alleged crime or crime that is present in an organization, a company, or any group of people. In most cases, a complainant is a person who is somehow a part of the body that is being accused or disclosed. The alleged conduct that was brought to light can be classified in several ways, as a rule a violation of a specific law, rule, regulation, or a direct threat to the greater public interest (such as health / safety violations, fraud , or corruption) is the main reason that an individual take part in reporting irregularities.
Q would like to purchase $100,000 of permanent protection on his wife and $50,000 of term coverage on himself under the same policy. what kind of policy should q purchase?
Answer:
Q should purchase whole life insurance policy.
Explanation:
Since Q wants to get a permanent protection for his wife so whole life insurance policy is his safest best. This type of insurance is there for the entire lifetime and offer many benefits. The two major benefits of whole life policy include death benefit and accumulated cash savings. It pays a death benefit to the beneficiary when the person passes away. Accumulated cash value also serve the purpose of savings which you can also get while you are still alive. This very insurance basically has your entire life covered.
To achieve $100,000 of permanent coverage for his wife and $50,000 of term coverage for himself under the same policy, Q should purchase a combination life insurance policy. This policy combines different types of coverage in one package.
Explanation:Q should look to purchase a combination life insurance policy. Combination policies allow individuals to cluster different types of coverage under one policy. In this case, Q would have permanent life insurance coverage on his wife, which does not expire and accumulates a cash value over time. On the other hand, the term life insurance coverage on himself would only last for a specified time period, typically cheaper than permanent coverage because of its temporary nature.
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A corporation purchased manufacturing equipment for $100,000, with an estimated useful life of 10 years and a salvage value of $15,000. The second year’s depreciation for this equipment using the straight line method is _____.
Answer:
The second year’s depreciation for this equipment using the straight line method is 8,500
Explanation:
Depreciation: Depreciation is a decreasing value of the assets due to the tear & wear, obsolescence, usage,etc.
The formula to compute the depreciation under straight lie method is shown below:
= [tex]\dfrac{(original\ cost - salvage\ value)}{useful\ life}[/tex]
= [tex]= \dfrac{(\$100,000 - \$15,000)}{10}[/tex]
= $8,500
The depreciation amount under straight line method should remain same over the estimated useful life
So, the second year’s depreciation for this equipment is $8,500
The creation of a new vision for a struggling company based on a new approach to planning and organizing to make better use of a company's resources and allow it to survive and prosper is _______________ management.
performance
- total quality
- scientific
- turnaround
- impression
Answer:
turnaround
Explanation:
According to my research on different company business strategies, I can say that based on the information provided within the question the term being described is called a turnaround management. This is a strategy that focuses on using analysis and planning to pick up a struggling company and return them to profitability, by identifying the reasons that they may be failing and fixing them.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Assume that $1 million is deposited into a bank with a reserve requirement of 15 percent. The value of the money multiplier is 6.67.
What is the maximum change in money supply as a result of this deposit? (Round your answer to two decimal places.)
Answer:
maximum change in money supply is $6.67 million
Explanation:
given data
deposit = $1 million
reserve requirement = 15%
money multiplier = 6.67
to find out
maximum change in money supply
solution
we know here money multiplier is given = 6.67
so maximum change in money will be
maximum change = deposit × money multiplier
put here value
maximum change = $1 million × 6.67
maximum change = $6.67 million
so maximum change in money supply is $6.67 million
________ is the first component of an operational customer relationship management system that supports a broad range of business processes, such as tracking and managing customer history and preferences, account and contact management, and order processing and tracking.
Answer:
The correct answer is Sales force automation.
Explanation:
The objective of automating any process is to simplify it to facilitate its achievement. Therefore, automating the sales force means the same: simplify each of the phases that make up the commercial process and turn it into a clear, defined and automatic method that helps your team to be more efficient in each of its actions, from contact search, business visit development, monitoring and closing.
CRM is the primary component of a system supporting multiple business processes.
Explanation:Customer relationship management (CRM) is the first component of an operational CRM system that supports various business processes. This includes tracking customer history and preferences, account and contact management, and order processing. The system utilizes information for marketing optimization, response to demand variations, and targeted marketing.
You purchased 1,000 shares of the New Fund at a price of $20 per share at the beginning of the year. You paid a front-end load of 4%. The securities in which the fund invests increase in value by 12% during the year. The fund's expense ratio is 1.2%. What is your rate of return on the fund if you sell your shares at the end of the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answer:
6.37%
Explanation:
Rate of return
= (Aggregate investment value after one year - Investment value) / investment value ----- equation 1
Cost of shares =number of shares* price per share
= 1000* $20 =$20,000
Total amount invested = Purchasing cost /(1- front-end load)
= $20,000 / (1-0.04)
=$20,000 / 0.96 = $20,833.333
Investment value after one year
= Total Investment*( 1+ price increase-expense ratio)
= $20,000( 1 +0.12 -0.012)
= $20,000(1.12-0.012) = $20,000 * 1.108 = $22,160
From equation 1 above
Rate of return = ($22,160 - $ 20,833.333) / $20,833.333
$ 1,326.667 / $ 20,833.333
= 0.06368001701
= 0.0637
Since rates of return are expressed as %, we multiply the result by 100 to get
0.0637*100 =6.37%
My rate of return on the fund will be 6.37% if I sell the shares at the end of the year.
After accounting for the front-end load and expense ratio, the rate of return for the New Fund investment comes out to be approximately 10.69%.
Explanation:Initially, you purchased 1,000 shares of the New Fund at $20 per share, costing you $20,000. The front-end load was 4%, meaning you paid an upfront fee of $800 (0.04 * $20,000), which effectively reduces your investment to $19,200 ($20,000 - $800).
The value of the securities in which the fund invests increased by 12% during the year, raising your investment value to $21,504 ($19,200 * 1.12).
However, the fund also charges an expense ratio of 1.2%, which is a fee taken from your investment value. This amounts to $258.05 ($21,504 * 0.012), leaving you with an ending balance of $21,245.95 ($21,504 - $258.05).
To calculate your rate of return, you subtract the initial investment from the ending balance, divide by the initial investment, and multiply by 100 to get a percentage. This gives you a rate of return of roughly 10.69% [($21,245.95 - $19,200) / $19,200 * 100]. This is your final return, taking into consideration the front-end load and expense ratio.
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Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche strategy for years. In this case, which of the following is the most likely to be true of Drafi Arts Corp.?
Answer:
The correct answer would be, It serves only a limited geographic market.
Explanation:
A niche strategy of selling the products means that the company sells its products which is limited by some preferences, usually geographically.
So Drafi Arts Corp makes and sells original handicraft products, and the company is successfully using a niche strategy for years, which means company is selling its handicraft items to people limited by geographical areas. They are not selling their products nationwide or worldwide, rather they are focusing on selling their handicrafts to a limited geographical region.
"Scarcity, opportunity cost, and marginal analysis Neha is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Each hour she spends swimming is an hour that she can't spend biking or running. Which basic principle of individual choice does this sentence best illustrate?1)Neha has an incentive to spend more time on swimming than on biking or running.2)People usually exploit opportunities to make themselves better off.3)All choices have opportunity costs.4)Neha can use time most efficiently by spending the same amounts of time on swimming, biking, and running."
The sentence exemplifies the opportunity cost principle, highlighting that time spent on one activity results in the loss of potential benefits from alternative activities.
Explanation:The sentence 'Each hour she spends swimming is an hour that she can't spend biking or running' best illustrates the opportunity cost principle of individual choice. This reflects the fact that due to scarcity, Neha must make a choice between competing activities, each with their own potential benefits. Therefore, the time dedicated to one activity cannot be spent on another, which is the fundamental nature of opportunity cost. This concept is crucial in economics and reflects the reality that people must always consider the next best alternative that they give up when making a decision.
If production displays diseconomies of scale, the long-run average cost curve is
A. above the short-run average toal cost curve.
B. above the long-run marginal cost curve.
C. upward sloping.
D. downward sloping.
Answer:
C. upward sloping.
Explanation:
Diseconomies of scale is what is called in micro-economics the cost of producing or increasing the production of a certain product, or increasing the offer on a certain service by a business, if this is happening it occurs a upward slopin in the average cost curve, since the cost of production is increasing as more products and services are offered.
Pat is concerned about better knowing the cultural tendencies of her business partners and competitors in Europe and Asia. Pat would be interested in knowing this information because according to the GLOBE project, this can give her a strategic competitive advantage.
Answer: Knowing cultural tenders of th partners and competitors gives you a competitive advantage .
Explanation: Pat’s concern about better knowing the cultural tendencies of her business partners and competitors in Europe and Asia. To be successful, you need to be able to articulate the benefit you provide to your target market that's better than the competition. That's your competitive advantage. You must reinforce that message in every communication to your customers. That includes advertising, public relations, and sales aids.A competitive advantage means you need to offer some things your competitors don't. Therefore, you need to know what it is your competitors do well, and do not do well. Think about your competitors' products, services, prices, location, and marketing.Knowing about your competitors will help you to communicate with your target audience, distinguish your business from competitors, improve your processes, and navigate challenges in your market.
In recent years the cost of producing organic produce in the United States has decreased largely due technological advancement. At the same time, more and more Americans prefer organic produce over conventional produce. Which of the following best explains the effect of these events in the organic produce market?
A) Both the supply and demand curve have shifted to the right. As a result there has been an increasein both the equilibrium price and the equilibrium quantity B)The supply has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on equilibrium price C) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result there has been an increase in the equilibrium price and anuncertain effect on equilibrium qunatity D) Both the supply and demand curves have shifted to the right. As a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price
Answer:
The correct answer is option D.
Explanation:
Suppose technological advancement has helped in decreasing the cost of producing organic produce. This means that the farmers can now produce more at the same cost. As a result, the supply of organic produce will increase. This will cause a rightward shift in the supply curve.
At the same time, the demand for organic produce has increased. This will lead to a rightward shift in the demand curve.
The rightward shift in both demand and supply curve will lead to an increase in the equilibrium quantity. The change in the price level depends on the extent of the change in demand and supply.
In the organic produce market, technological advancements and an increase in organic preference have both shifted the supply and demand curves to the right, resulting in a higher equilibrium quantity, but leaving the effect on equilibrium price uncertain. Prices may not fall significantly unless the supply increases more than the demand.
The situation described involves both an increase in the number of farmers converting to organic farming, shifting the supply curve to the right, and a rising preference among Americans for organic produce, shifting the demand curve to the right. The correct effect of these events in the organic produce market is most likely an increase in the equilibrium quantity and an uncertain effect on the equilibrium price. This uncertainty stems from the fact that the price will only decrease if the increase in supply is more significant than the increase in demand. While technology has reduced some costs, organic farming remains expensive due to higher costs for organic fertilizers and pest management.
Over time, as the number of farmers grows and technology progresses, we may see further shifts in supply. However, the extent to which this will affect prices is not yet clear since organic produce may continue to be more costly than non-organic produce. The overall impact on market equilibrium price and quantity will depend on the relative magnitudes of shifts in supply and demand for organic produce.
Bill and nine of his friends each contributed $10,000 to form a real investment group. The group then purchased a small retail center for $350,000 using an interest-only loan for $250,000 at 10% annual interest. At the end of one year, the building was sold for $410,000. What is the rate of return on Bill's investment?
Answer:
Rate of return = 9.33%
Explanation:
As for the provided information, we have:
Bill and his nine friends invested $10,000 each = $10,000 (Bill + 9 ) = $10,000 [tex]\times[/tex] 10 = $100,000
Extra loan taken = $250,000
Interest on such for the year = $250,000 [tex]\times[/tex] 10% = $25,000
Interest expense for each individual = $25,000/10 = $2,500
Share of loan for each person = $250,000/10 = $25,000
Total cost of retail center to each person = $10,000 + $25,000 + $2,500
= $37,500
Return on investment = $410,000
Return share of each individual = $410,000/10 = $41,000
Net return to each individual = Return - Cost = $41,000 - $37,500 = $3,500
Net rate of return = [tex]\frac{3,500}{37,500} \times 100 = 9.33[/tex]
The Sarbanes-Oxley Act of 2002 (SOX) imposes stricter requirements over financial reporting and internal controls and stricter consequences for those who engage in financial statement misconduct and other white-collar crimes. True or False
Answer:
True or False. TRUE
Explanation:
The law "Sarbanes-Oxley Law" aims to generate a framework of transparency for the activities and financial reports of publicly traded companies, and give greater certainty and confidence to investors.
Many companies recognize three major categories of costs of manufacturing a product. These are direct materials, direct labor, and overhead. Which of the following is an overhead cost in the production of an automobile?
a) The cost of small tools used in mounting tires on each automobile.
b) The cost of the tires on each automobile.
c) The cost of the laborers who place tires on each automobile.
d) The delivery costs for the tires on each automobile.
Answer:
a)
Explanation:
a) is the overhead cost
b) are direct materials
c) is direct labor cost
d) is the overhead cost
Direct materials, direct labor, and overhead are three major categories of costs in manufacturing. The delivery costs for the tires on each automobile would be considered an overhead cost.
Explanation:In the production of an automobile, the cost of small tools used in mounting tires on each automobile would be considered a direct material cost because it is directly related to the manufacturing process. The cost of the tires on each automobile would also be considered a direct material cost because it is a physical component of the finished product.
On the other hand, the cost of the laborers who place tires on each automobile would be considered a direct labor cost because it is directly associated with the manual labor involved in manufacturing the product. Lastly, the delivery costs for the tires on each automobile would be classified as an overhead cost because it does not directly involve the manufacturing process.
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Within the context of quality control, the primary purpose of continuing professional education (CPE) and training activities is to provide a CPA firm with reasonable assurance that personnel within the firm haveA. Technical training that ensures proficiency as an auditor
B. Professional education that is required to perform with due professional care
C. The ability to fulfill assigned responsibilities and the qualifications for advancement
D. Knowledge required to perform a peer reivew
Answer:
The correct answer is c) The ability to fulfill assigned responsibilities and the qualifications for advancement
Explanation:
The company should select procedures to achieve consistent assurance that workers at all levels cooperate in general and industry-specific CPE and other professional activities that empower them to fulfill responsibilities assigned and the qualifications for advancement.
In order for Hope Springs to effectively sell its bottled water, the company needs to be effective at ________, which is the practice of building ties to customers through a salesperson's attention and commitment to customer needs over time
Answer: Relationship selling
Explanation: In simple words, it refers to the strategy in which the seller focus on the communication and interaction between the buyer and seller rather than the product price and qualities.
It is done with the objective of gaining customer loyalty and making the customer base strong and rigid. It is implemented on existing markets and not on the potential customer base.
Hence from the above we can conclude that the correct answer is relationship selling.
A U.S. firm has borrowed £50 million from a British firm. The borrower will need to convert dollars to pounds to repay the loan when it is due. The U.S. firm could hedge the exchange rate risk by A.buying pounds forward.B. selling pounds forward.C. borrowing pounds.D. both B and C would hedge the risk E. both A and C would hedge the risk
The answer is D. both B and C would hedge the risk