The demand for product x is highly inelastic and the supply of product x is highly elastic. The burden of an excise tax on product x will be borne primarily by the buyers of product x. Thus, option (d) is correct.
What is product?The thing being sold is called a “product.” A product and service market foundation. Items are divided into two categories: industrial products and consumer products.
The country's economy was based on demand and supply. Product x has a highly inelastic demand and a highly elastic supply. The buyer bears the cost of the excise tax on product x.
Therefore, option (d) is correct.
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on november 1, eli co. received a $6,000, 60-day, 6% note from a customer as payment on his $6,000 account. eli's journal entry to record this transaction on november 1, would include a: (check all that apply.)
Credit of $6,000 to Accounts Receivable a $6000 debit to notes payable Eli Co. must document the likely cash inflow and outflow in the account document for the supplied report.
The amount that the business got is recorded as a credit to its account, while the amount that it will repay the lender is recorded as a debit. Later, the debit will be paid. A maker of furniture who has supplied furniture to a retail business is an example of an account receivable. Payment due is noted under accounts receivable once the manufacturer bills the retailer for the furniture. The maker of the furniture is awaiting payment from the retailer.
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If the price elasticity of demand for a good is 0.8, then which of the following events is consistent with a 4 percent decrease in the quantity of the good demanded?
a. A 0.2 percent increase in the price of the good,
b. A 3.2 percent increase in the price of the good,
c. A 4.8 percent increase in the price of the good,
d. A 5 percent increase in the price of the good.
If the price elasticity of demand for a good is 0.8, then a 5 percent increase in the price of the good is consistent with a 4 percent decrease in the quantity of the good demanded. Therefore, the option D holds true.
The price elasticity of demand can be referred to or considered as the total resistance to change shown by a change in the price level of a good. When there is an increase in the price levels, then there is also a decrease in the demand for the good, which will be proportionate to the prevailing price elasticity of that good.
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Thomas learned that one of the reasons he wasn’t promoted to department head was because other managers at the same level knew little about him, whereas the person who was promoted had built relationships and was known to others. This is an example of what source of power?Coercive PowerFramingAlliances and networksPersonal power
Power comes from a variety of factors in leadership, including position, personality traits, subject-matter knowledge, and skill.
What are power and its sources?Power is the capacity to accomplish goals, occasionally in spite of opposition from others. Legitimate power, expert power, personal power, coercive power, and informational power are just a few of the many sources of power available to leaders.
How many types of electrical sources are there?Nuclear energy, renewable energy sources, and fossil fuels are the three primary forms of energy utilized to create electricity (coal, natural gas, and petroleum). The majority of the world's energy is produced by steam turbines using fossil fuels, nuclear power, biomass, geothermal, and solar thermal energy.
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assume that the price of good x decreases from $10 to $9 per unit and that the quantity demanded of good x increases from 25 to 30 units. in this price range, the demand for good x is group of answer choices
Good X has an elastic demand.
What is elastic demand?An elastic demand is one where there is a significant shift in the quantity sought as a result of a price change.
Which 3 elasticity types are there?Elasticity is a term used to describe how responsive one economic variable is to changes in another economic variable. Prices, cross-price elasticity, and income elasticity of demand are the three main types of elasticity.
What are elasticity's several types?Price Elasticity of Demand (PED), Cross Elasticity of Demand (XED), and Income Elasticity are the three basic categories under which demand elasticity is divided based on factors influencing the quantity demanded for a product
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_________ refers to the strategic combination of the four basic marketing mix elements.
a. The marketing plan
b. The marketing program
c. Strategic control
d. The strategic mix
e. Implementation
Answer: b. The marketing program
The four elements of the fundamental marketing mix are strategically combined to form the marketing program.
The marketing program is a technique of conceptualizing the total scope of our marketing endeavors for the whole business. By our particular products or product families, this is dissected. There are products that occasionally cluster together because they share a similar quality or brand. That is referred to as a product family.
A marketing program outlines the outreach and PR initiatives that will be implemented over time, along with how the business will evaluate their success.
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an investment adviser with an office in state a has no office located in state b, but has registered in state b and has 19 customers located in state b. the administrator of state b is:
It is legal for the administrator of state b to look into any documents kept in the adviser's office in state a.
An administrator supports teams or individuals with office chores, which is crucial for the smooth operation of a business. They might be in charge of filing, word processing, creating spreadsheets and presentations, greeting visitors, directing them where to go, and answering phones. The tasks of an administrator include planning and managing an institution's or organization's daily operations. An administrator is someone who is in charge of making sure a company runs smoothly. They could have various duties depending on the kind of organisation, team, or body they work for. Above all, administrators need to be organised and proficient communicators. a person who oversees the management of a business or organisation.
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the total cost method includes all manufacturing costs plus selling and adminstratice espenses in the cost amount to which the markup is added to determine profuct price
The total cost method includes all manufacturing costs plus selling and administrative expenses in the cost amount to which the markup is added to determine product price is TRUE.
Total cost method is a pricing strategy which includes all production cost of a products and its related expenses then adding profit to the resulting amount. This method allows a company to put the highest price as possible based on its desired profits.
However, this method is disfavored by the boards and courts because it ssumes the reasonableness of a company's costs, the accuracy of its bid computations, and its lack of responsibility for increases in costs.
To overcome this issue, the modified total cost method is developed which is the adjusted version of total cost method for any deficiencies in the company's proof in satisfying the requirements of the total cost method.
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Now that she is selling mixers and her customers can use credit cards to pay for them, Natalie is thinking of upgrading her website to include the online sale of mixers and payment by credit card. This would enable her to sell these mixers to a wider range of customers using the Internet.
Natalie contacts her brother who originally prepared the website for her. He agrees to upgrade the site so it can handle credit card security issues as well as direct order entry. The cost of the upgrade is $1, 800. This cost would be incurred and paid for during the month of August 2018, and the upgrade would be operational on September 1, 2018. Recall that Natalie's website had an original cost of $600 and is being amortized using the straight-line method over 24 months, starting December 1, 2017, with zero residual value. Additional costs for website maintenance and insurance are estimated to be $1, 200 per year.
If Natalie decides to upgrade the website, its useful life will not change and there will be no change in residual value.
Natalie upgrade the website by Preparing the journal to record,Calculating the monthly expenses before and after the accumulated amortization, calculation of revised monthly expenses, calculate the accumulated amortization and book value
(a) Preparing the journal to record for the upgrade
at
31-Aug-21
web site is upgraded $ 1800 is
debited in the form of cash
(b) Calculating the monthly expenses before and after the accumulated amortization
the original value of the website is $600
life of the website is 24 months
amortization per month is $25
accumulated amortization is $225
book value on 31-aug-21 is $375
(c) calculation of revised monthly expenses for 1- Sep- 2021:-
new value of website on 1-Sep-2021 is ($1800+$375)
=> $2,175
Amortization per month is ($2175/15)
=> $145
(d) calculate the accumulated amortization and book value as
on 31-Dec-2021 :-
the accumulated depreciation is ($580+$225)
=> 805
the booked value of the website is ( $ 2175-$805)
=> $1370
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Which of the following pricing techniques is most appropriate when developing targeting strategies based on the 80/20 rule observed in few industries?
Market-skimming pricing
Cost-plus pricing
Compensation-based pricing
Market-skimming pricing is most appropriate when developing targeting strategies
Price skimming is a method of product pricing in which a company sets its starting price as high as its target market would bear before gradually lowering it. The company reduces the price to appeal to a different, more price-sensitive portion of the population as the demand of the initial clients is met and competition enters the market.
The "skimming" of successive layers of cream, or client segments, as prices decline over time gives the skimming technique its name.
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Businesses that sell services rather than merchandise don't have a line for _____ on their statements. A. operating expenses B.sales expenses C. Interest Expenses D. Cost of goods sold
Businesses that sell services rather than merchandise don't have a line for Cost of goods sold on their statements.
So, option D. Cost of goods sold is correct answer
The direct costs of producing the products that a business sells are referred to as its cost of goods sold (COGS). The cost of the labor and materials directly employed to make the good are also included in this sum. It doesn't include indirect expenditures like those associated with the sales staff and distribution.
The phrase "cost of sales" is another term for "cost of goods sold."
Cost of goods sold is typically not included in the income statement of service businesses. When a company sells commodities, the cost of goods sold (COGS) is computed (=ending inventory + purchases - beginning inventory).
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he following cost information pertained to the violin division of stringing music company and was based on monthly demand and sales of 100 units: per-unit costs variable production costs: direct materials $ 170 direct labor 200 variable factory overhead 110 fixed production costs: depreciation (equipment) 70 factory rent 98 other 22 total production cost $ 670 variable selling $ 46 per unit Fixed selling & administrative costs $ 58 per unit Assume that the Violin Division was evaluating whether it would accept a special sales order for 65 violins at $500 per unit. For this purpose, total relevant cost per unit (given the costs stated above) is:
Based on monthly demand and sales of 100 pieces, the cost data below for the violin division of the stringing music company was as follows: cost per unit variable costs of production direct resources Direct labor costs of $170, $200 in variable manufacturing overhead, and 110 in fixed production costs.
$430. Selling price per unit minus variable cost per unit is $1,360. Contribution margin per unit on regular (i.e., recurring) sales = (given) Variable selling and administrative cost per unit = $1,360 ($300 + $330 + $240) $60 = $1,360 $870 $60 = $430. Variable production cost per unit .
Costs that are fixed are those that don't change based on volume. The majority of fixed costs are expenses that depend more on time than they do on how much your company produces or sells. Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs.
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1.We can use the normal distribution to make confidence interval estimates for the population proportion, p, when: a. n(1 - p) ≥ 5 b. p has a normal distribution. c. Both np ≥ 5 and n(1 - p) ≥ 5. d. np ≥ 5 2.The margin of error in an interval estimate of the population mean is a function of all of the following except: a. sample mean. b. variability of the population. c. sample size. d. level of significance
We can use the normal distribution to make confidence interval estimates for the population proportion, p when np ≥ 5 and n(1−p) ≥ 5. The margin of error in an interval estimate of the population mean is a function of the sample mean.
It is impossible to measure each value in order to determine the population proportion when the populations of data values are vast. A confidence interval is constructed using a sample and includes a lower and upper border value (which most likely comprises the population proportion).
We can use the normal distribution to make confidence interval estimates for the population proportion, p when np ≥ 5 and n(1−p) ≥ 5. Because for probabilities that do not fit those two criteria, the normal distribution is not an acceptable replacement for the binomial distribution.
The margin of error in an interval estimate of the population mean is a function of the sample mean because the mean is not included in the margin of error equation.
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Using a supply and demand analysis show first the labour market in equilibrium, and then
show
a) the effect of a reduction in the demand for labour as a consequence of a pandemic.
b) The effect of a government subsidy to producers to restore the employment of labour.
Provide a diagram with clear axis details. Make sure to explain what sort of assumptions you
are making on the elasticities of demand and supp.
If there is a decrease in labor demand as a result of a pandemic, the labor demand curve will shift to the left.
If the government offers a subsidy to producers in order to restore labor employment, the quantity supplied for labor will shift to the right.
What is the demand?The term “demand” relies on people's needs and wants to the amount of goods and services. Demand is an economic notion that deals with the connection between consumer demand for goods and services and their market prices.
If there is a decrease in labor demand as a result of a pandemic, the labor demand curve will shift to the left. This indicates that companies will be ready to hire fewer staff at any given salary rate.
If the government offers a subsidy to companies in order to restore labor employment, the quantity supplied for labor will shift to the right. This suggests that workers will be prepared to provide additional labor at any given wage rate.
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which of the following statements are correct? contracts are complete in both competitive goods markets and labour markets. social norms do not affect the outcomes in either goods markets or in labour markets. in a competitive goods market the buyers are price-takers, while in a labour market the buyers of employment (the firms) are price-setters. there is no economic rent for either the buyers or the sellers in competitive goods markets. in contrast, in labour markets the sellers receive economic rents.
The following statements " In a competitive goods market the buyers are price-takers, while in a labor market the buyers of employment (the firms) are price-setters and There is no economic rent for either the buyers or the sellers in competitive goods markets. In contrast, in labor markets the sellers receive economic rents" are True.
Understanding the operation and dynamics of the markets for paid labor is the goal of labor economics. The commodity of labor is provided by workers, often in return for a salary demanded by employers.
Labor economics must take into consideration social, cultural, and political factors because these workers are a part of a social, institutional, or political system. Employers and employees interact to drive labour markets, or employment markets. In order to understand the pattern of wages, employment, and income that results, labor economics examines the providers and consumers of labor services.
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as mentioned earlier, gladstone corporation is about to launch a new product. depending on the success of the new product, gladstone may have one of four values next year: $150 million, $135 million, $95 million, and $80 million. these outcomes are all equally likely, and this risk is diversifiable. suppose the risk-free interest rate is 5% and that, in the event of def
Gladstone Corporation's new product launch is a risky venture, with four possible outcomes of the company's value next year: $150 million, $135 million, $95 million, and $80 million.
The risk of these outcomes is diversifiable, meaning that the company could spread the risk among different investments or strategies, such as diversifying their portfolio, hedging, or using insurance.
If Gladstone takes no action to mitigate the risk associated with their new product launch, the expected return on their investment is the risk-free rate of 5%. However, if they choose to diversify their risk, they may be able to increase their expected return if they can successfully spread their risk across a variety of investments. Additionally, if Gladstone purchases insurance to protect themselves from the downside of their new product launch, their expected return could be higher than the risk-free rate.
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the u. s. government ordering discontinuation of the process of freely sharing wage and salary information among organizations because:
The United States government ordered that the practice of freely exchanging income and salary information among organizations be discontinued because the practice of was salary prohibited by changing entrust legislation.
What is the organization?A company, institution, association, or another type of entity made up of one or more people serving a specific purpose is referred to as an organization or organization. The word is derived from the Greek word organon, which also refers to an organ and various tools or instruments.
A methodical technique to give employees financial value in exchange for their labor is called compensation. Compensation can help with organization recruitment, job performance, and job happiness, among other things.
Therefore, organizations are disbanded because the practice of paying salaries was made illegal by the new trust law.
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on april 5, 20x9, you discovered that on february 16, 20x9, a flood destroyed the entire uninsured inventory in one of pumpkin's warehouses.on february 17, 20x9, you discovered that on february 16, 20x9, a flood destroyed the entire uninsured inventory in one of pumpkin's warehouses.on february 17, 20x9, you discovered that on november 30, 20x8, a flood destroyed the entire uninsured inventory in one of pumpkin's warehouses.on april 5, 20x9, you discovered that on march 30, 20x9, a fire destroyed one of pumpkin's 10 plants.on april 7, 20x9, you discovered that a debtor of pumpkin went bankrupt on january 6, 20x9.on january 16, 20x9, a lawsuit was filed against pumpkin for a patent infringement action that allegedly took place in early 20x8. in the opinion of pumpkin's attorneys, there is a reasonable (but not probable) danger of a significant loss to pumpkin.on february 19, 20x9, pumpkin settled a lawsuit out of court that had originated in 20x8 and is currently listed as a contingent liability.
Situation Possible actions no action is to be taken as there is a reasonable (but not probable) danger of a significant loss to pumpkin.
What factors lead to business losses?Poor asset utilization, ineffective working capital management, a lack of costing and pricing, a lack of planning and budgeting, inappropriate money use or diversion, and a thin equity foundation.
How may business loss be demonstrated?Limitations on company losses can be calculated using IRS Form 461 and reported on a personal tax return. This form collects data on your annual total income or loss from all sources. If your losses are limited, you can determine this by subtracting the business loss and comparing the result to the excess loss limits.
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TRUE/FALSE: If a firm moves into joint ventures and direct investments, it will eventually need to create an export department.
The statement " If a firm moves into joint ventures and direct investments, it will eventually need to create an export department." is true.
Give a brief account on joint ventures.Common ownership, common returns and risks, and common control are generally characteristics of a joint venture (JV), an entity formed by two or more parties. Joint ventures are typically operated by companies for one of four reasons:
Share the risks of large investments and projects, access skills and capabilities, combine assets and operations to achieve economies of scale, and access new markets, especially emerging markets. . The claim that joint ventures reduce downside risks is refuted by Reuer and Leiblein's research. According to Gerard Baynham of Water Street Partners, joint ventures have received a lot of notoriety, but objective data shows joint ventures outperform wholly owned and controlled subsidiaries. is shown to exist.
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the best approach to budgeting is objective and task budgeting, whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives, and multiple choice asks the ad agency for an estimate. surveys customers to determine what spending levels they think are appropriate. asks the media to propose a program. determines what spending level top management will allow for the proposed program. determines the promotion cost of performing these tasks.
The best approach to promotion is task and objective budgeting method whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives.
Give a brief account on promotion.Any sort of marketing communication designed to persuade target audiences of the relative qualities of a given good, service, brand, or issue is referred to in the marketing world as promotion. Marketing professionals can use either a cognitive or an emotional approach to help buyers remember their brand. The purpose of promotion is to raise brand awareness, pique interest, bring in business, or foster brand loyalty. It is a fundamental component of the market mix, which also comprises the four P.s. : product, price, location, and promotion.
Another component of the promotional mix or marketing strategy is promotion. Personal selling, advertising, sales promotion, direct marketing publicity, word of mouth, event marketing, exhibitions, and trade shows are some of these. Each component of the promotional mix should receive a certain amount of attention, and a promotional plan outlines how much of the cash should go toward each component.
Promotion includes all of the communication techniques a marketer does to spread the word about their product. Both verbal and visual information is possible.
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The complete question is mentioned below :
The best approach to promotion is _______ budgeting method whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives, and determines the promotion cost of performing these tasks.
on january 15, ross furniture, inc., accepts a $5,000, 180-day, 10 percent note from a customer at the time of a product sale. prepare the january 15 entry for ross furniture by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
The two accounts will be notes receivable account and sales revenue account. The notes receivable account will be debited by $5000 and the sales revenue will be credited by $5000.
In a journal, business transactions are recorded in a chronological fashion. Recording journals is the first step in the creation of final accounts.
A customer's $5,000 note was accepted on January 15.
There are two accounts at play here: Sales revenue and Notes receivable
Both sales revenue and notes receivable are revenue items.
Entry:
Notes receivable account will be debited by $5000.
Sales revenue account will be credited by $5000.
Date Particulars Debit Credit
Jan- 15 Notes receivable account 5000
To sales revenue account 5000
(Being record of notes accepted
on sale)
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everything else equal, an increase in the government budget deficit would: increase the government's demand for funds shift the demand curve for funds to the left increase the interest rate in the economy
Everything else equal, an increase in the government budget deficit would Increase the government's demand for funds and Increase the interest rate in the economy
An overrun in spending over income results in a budget deficit, which can be a sign of a nation's financial stability. The phrase is frequently used to describe government spending rather than that of companies or people. Budget deficits have an impact on the total amount a nation owes to creditors, the total of its annual budget deficits, and the national debt.
The government experiences losses during times of poor economic development or economic recession. Workers who leave their jobs pay less in taxes, which reduces the government's revenue.
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identify which type of sampling is being used: a market researcher randomly selects 500 people from each of 10 cities.
If a market researcher randomly selects 500 people from each of 10 cities is an example of random sampling is collection of data.
What is Stratified sampling?Stratified random sampling is a type of probability sampling using which a research organization can branch off the entire population into multiple non-overlapping, homogeneous groups (strata) and randomly choose final members from the various strata for research which reduces cost and improves efficiency.
A research organization can branch off the total population into numerous groups and randomly choose final participants from the various strata for research using stratified random sampling, which lowers costs and increases efficiency.
Thus the aforesaid is an example of stratified sampling.
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Wearing a seat belt in an automobile to protect yourself against injury is an example of ____________ risk.
A) reducing
B) assuming
C) pooling
D) shifting
E) avoiding
Answer: reducing
Wearing a seat belt in an automobile to protect yourself against injury is an example of reducing risk.
By lowering the possibility and severity of a prospective loss, risk reduction seeks to mitigate potential losses. For instance, a risk-averse investor who is considering buying oil equities may decide against doing so due to the political and credit risk associated with the commodity.
It strengthens the stability of the organization and lowers its legal responsibility. - It helps an organization feel more confidence and aids in helping it make the best business decisions. It safeguards the participants and the business against any potential harm.
The alpha, beta, R-squared, standard deviation, and Sharpe ratio are the five main risk indicators.
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Identify the true statements about Kaizen Improvement.
Kaizen refers to eliminating inventories. Both lean systems and just-in-time (JIT) systems can benefit from kaizen. Cost reduction can be achieved by kaizen.
What does "Kaizen Improvement" mean?Since the term's introduction as a systematic method for company improvement, businesses who use KAIZENTM have consistently produced better outcomes. Continuous improvement costing is referred to as kaizen costing. This method concentrates on examining the expenses incurred.
Kaizen, also known as continuous improvement, asserts that an organization can only succeed in the long run if every employee seeks out and implements improvements on a daily basis.
The pursuit of minor changes encourages reflection on the procedure and how it is being run.
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question:-
Identify a true statement about kaizen.
O It involves a huge financial investment.
O It is performed on a part-time basis.
O It is an intense, rapid improvement process.
O It is based on the concept of continuous improvement.
You've just been assigned to prepare a ____ ratio analysis showing your company's ability to pay interest on its debts from its operating income.A)profit marginB)interest coverageC)management efficiencyD)management effectiveness
You've just been assigned to prepare a interest coverage ratio analysis showing your company's ability to pay interest on its debts from its operating income.
A debt and profitability measure called the interest coverage ratio is used to assess how easily a business can pay the interest on its existing debt. Divided by interest expense during a specific time period, a company's earnings before interest and taxes (EBIT) yields the interest coverage ratio.
The times interest earned (TIE) ratio is another name for the interest coverage ratio. This method is frequently used by lenders, investors, and creditors to assess a company's riskiness in relation to its present debt or for potential future borrowing.
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researchers have found that employees may be less likely to report ethical problems to management if they are intently focused on achieving a task. t/f
Researchers have discovered that if employees are completely concentrated on completing a task, they may be less inclined to report ethical problem to management. The statement is true.
How can businesses stop their staff from acting unethically?Employers can deter unethical behavior in their workforce by performing routine audits and sporadic spot checks. An employee's unethical behavior is frequently justified by the notion that it will never be discovered, hence it is safe.
What is moral behavior and immoral behavior?When people act in a good, moral, just, and appropriate manner, it is ethical behavior. People that act in a terrible, immoral, unjust, or improper manner are engaging in unethical behavior. Business ethics determine whether a company's actions are moral or immoral.
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In the triggering event and the implementation stages of the start-up process model, which of the following environmental small business?
Select one:
a. competition
b. bankers
c. role models
d. suppliers
Option D. Suppliers are a key part of the start-up process model, as they provide the resources necessary for the business to get off the ground.
In the triggering event and implementation stages, suppliers can help entrepreneurs with the materials and services needed to start the business.
Which of environmental small business is as the statement?Option D. SuppliersSuppliers are a vital part of the start-up process model, as they are responsible for providing the resources needed to get the business off the ground. In the triggering event stage, suppliers can help entrepreneurs source the materials, products, and other resources required to start the business. During the implementation stage, suppliers are also needed to provide services and materials that are necessary to build the business's infrastructure and launch the product or service.
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FILL IN THE BLANK. in a barter economy, people are to specialize in the production of one good or service, compared to in a money economy.
People are less likely to specialize in the production of a single commodity or service in a barter system than in a money economy.
What is the barter system?Barter is an exchange system in which participants directly trade commodities or services for other goods or services without the use of a medium of exchange such as money. Economists contrast barter economies with gift economies in a variety of ways; for example, barter offers instantaneous reciprocal transaction rather than one that is delayed in time. Bartering is normally done bilaterally, but it may also be done multilaterally. Only to a limited extent does barter operate alongside monetary systems in most developed countries.
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which of the following statements about the federal gift tax is false? multiple choice the donor's basis in the gifted property carries over to become the donee's basis. the tax is imposed on the donor. the tax is based on the fair market value of the gifted property. an individual can give away $10 million (adjusted annually for inflation) every year without being subject to tax.
The solution is Option A: In 2018, the annual exception for gift tax is $15,000. That suggests the maximum amount a person may transfer tax-free is $15,000 each year. Option A is incorrect, thus. The other choices are all valid.
A tax is a necessary fee or financial charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest infrastructure and services. Different public spending initiatives are then funded with the funds that have been raised. Its root word, taxare, is Latin for "to assess." Before then, the cognate term "task," which is derived from Old French, was used in English. "Task" and "tax" were both often used for a while; the first required labor, the second money. The word "tax" later came to describe anything tiresome or difficult. Your tax bracket and the proportion of your income that is taxed increase as your income does.
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introduction this memorandum report identifies and explains key microeconomic principles using a set of simulation games. the outcome of these games illustrate how microeconomic principles can be applied within real-life situations to help us make better business decisions. this report is a summary of the simulations i played and their results, which include the key takeaways and their significance, for your review and reference. it is divided into the following sections:
It is divided into the following sections:1. Comparative Advantage 2. Competitive Markets and Externalities 3. Production, Entry, and Exit 4. Market Structures (including the Price Discrimination and Cournot simulations)5. Conclusions 6. References.
What is memorandum report?Memoranda are short, informal reports that are used to create records. By transferring the message from one or more authors to one or more recipients, they broadly define the communication process. a written document with information about a specific topic that has been developed expressly for a person or group of people: Ann will issue a memo describing the new processes to the staff. Messages sent over email frequently take the form of memoranda. One of the most adaptable organizational papers is the memorandum. A memo, usually referred to as a memo, is a written communication that details a specific issue and/or potential solution to a group or organization. An action plan with detailed instructions on how to carry it out should be included in a memo. Memoranda should be succinct and to the point.
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