The third stage in the business buying decision process is to b) search for products and suppliers.
The five steps of company purchasing decisions include awareness, specification, requests for quotes, evaluation, and ultimately making the purchase.
The process of purchasing a firm is a crucial notion for day-to-day operations. When a company has an issue, they frequently need to buy something from another company to address it. Businesses may make better judgments and save money by better understanding the process of company acquisition.
When it comes to investing in small businesses, buyers desire minimal risk with huge profit. Buyers will ultimately seek for high cash flow and robust systems with room for expansion. Buyers want precise and thorough information in order to make an informed judgment about whether your company is a good fit for them.
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When designing a project schedule, the ____________ of the schedule provides the level of detail for monitoring the progress of the project so that everyone has the same understanding of what must be achieved by when.
When designing a project schedule, the network diagrams of the schedule provides the level of detail for monitoring the progress of the project so that everyone has the same understanding of what must be achieved by when
What is a design project schedule?A draft plan is a timeline estimate for specific actions. Design timeline estimates for individual actions are aggregated into project design timeline estimates.
It can be difficult to put everyone on the same page. With multiple moving parts, different deliverables, and cross-departmental collaboration, the initial project meeting may not be enough. Project design is an opportunity to align ideas, processes, and outcomes. This is an early stage in the project lifecycle, often prior to project planning and charter. This is because the focus is on the project overview rather than the specific details. We'll cover the basics of project design, walk you through the seven steps to creating a project design, and share expert tips to help you better understand the process. Project design is the early stage of the project lifecycle, where ideas, processes, resources, and deliverables are planned. A project outline is preferred over a project plan because it contains more detailed information than a project plan, while a project outline provides an overview.
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Walmart and home depot emphasize consistently low prices and eliminate most markdowns with a strategy often called.
Walmart and home depot emphasize consistently low prices and eliminate most markdowns with a strategy often called everyday low pricing.
A general plan to accomplish one or more long-term or overall goals in the face of uncertainty is known as a strategy. the Three Categories of Strategies and How to Use Them! commercial strategy. operational approach. a transformational plan. the cost, or sum of money required to purchase a particular good. Price is also a measure of value insofar as the sum of money people are willing to spend on a product represents its worth. A price is the amount of money that one party pays another in exchange for goods or services; it is typically not negative. The cost of production can take on different names depending on the circumstance.
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one option for altering the pattern of demand through aggregate planning is a. using overtime. b. carrying inventory. c. subcontracting d. pricing.
One option for altering the pattern of demand through aggregate planning is: d. pricing.
What is pricing?
Pricing can be defined as the way a business owner or companies tend to set a price for their products which implies that the set price is the price they intend to sell the product to buyers.
Using overtime, carrying inventory as well substracting does not alter the pattern of demand, making option D the correct option.
Therefore the correct option is D.
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consider kharkeez, a hypothetical country that produces only burgers. in 2019, a burger is priced at $4.00. complete the first row of the table with the quantity of burgers that can be bought with $700. hint: in this problem, assume it is not possible to buy a fraction of a burger, and always round down to the nearest whole burger. for example, if your calculations result in 1.5 burgers, the answer should be 1 burger. year price of a burger burgers bought with $700 (dollars) (quantity) 2019 4.00 2020 suppose the government of kharkeez cannot raise sufficient tax revenue to pay its debts. in order to meet its debt obligations, the government prints money. as a result, the money supply rises by 20% by 2020. assuming monetary neutrality holds, complete the second row of the table with the new price of a burger and the new quantity of burgers that can be bought with $700 in 2020. the impact of the government's decision to raise revenue by printing money on the value of money is known as the .
The value of money is 145 burgers . money on the value of money is known as the inflation tax.
What does inflation mean in plain English?
The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.
2017
price of burgers is 4 and total spending is 700
quantity of burgers = spending/price = 700/4 = 175
2018Price of burger in 2018 = (1+inflation)*price 2017
= 1.2*4 = 4.8
Thus, quantiity 2018 = 700/4.8 = 145.8 = 145 burgers
The impact of the government's decision to raise revenue by printing money on the value of money is known as the inflation tax.
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select all that apply which of the following items are plant assets? (check all that apply.) multiple select question. land held for expansion equipment being used in operations building being used for operations equipment with no value
Equipment being used in operations and Building being used for operations are apply following items are plant assets.
The Indeed Editorial Team is made up of a brilliant and diverse group of writers, researchers, and subject-matter experts who use Indeed's data and insights to provide helpful advice for navigating your career path.
The assets included on a company's balance sheet contribute to its overall valuation and profits totals. Among these, plant assets frequently show to be among the more advantageous, financially supported assets. Understanding how they work might help you keep tabs on a company's development because of all the contributions they provide to a corporation.
In this article, we define plant assets, discuss the advantages they offer business, and discuss how accurately classifying and identifying these assets may help a business stay financially afloat.
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roponents of zero inflation argue that a successful program to reduce inflation a. permanently raises unemployment. b. eventually raises real interest rates. c. eventually reduces inflation expectations. d. permanently decreases output.
Proponents of zero inflation say that a successful program to lower inflation gradually reduces inflation expectations.
A program is a set of instructions that a computer employs to perform a certain purpose. A program is analogous to a computer recipe. It includes a list of materials as well as instructions that inform the computer how to complete a certain task. Specific programming languages, such as C++, Python, and Ruby, are used to construct programs. These are high-level programming languages that are both human-readable and writable. Compilers, interpreters, and assemblers within the computer system transform these languages into low level machine languages. Assembly language is a low-level language that is one step beyond machine language and may technically be written by a person, however it is usually much more cryptic and complex.
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marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions. group of answer choices true false
Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.----False
What's marketing and illustration?Marketing is, an action taken to bring attention to a business' immolations; they can be physical goods for trade or services offered. Common exemplifications of marketing at work include TV commercials, billboards on the side of the road, and magazine announcements.
What are the features of marketing?Marketing is thing acquainted The ultimate thing of marketing is to induce gains through the satisfaction of the client. Marketing is a nonstop process marketing isn't an insulated, static process but is a complex, nonstop and interrelated process. It involves nonstop planning, perpetration and control.
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identify the benefits of budgeting. select all answers that apply. multiple select question. assists in the control function. motivates employees. focuses on future opportunities. focuses on daily operations. leads to uncertainty among employees.
The budget is thus an outcome of the planning process. The budget is a crucial instrument for the evaluation and control of sources and uses.
Describe a budget.Plans for spending money that are based on income and expenses are called budgets. In other words, it's a forecast of your earnings and spending for a given period of time, such as a month or a year.
You may reach your financial objectives with a budget, have peace of mind, and set "guardrails" (i.e., limitations) for your spending. This is assuming that you count savings as a fixed "cost."
Budgeting is what it is, and why is it useful?Making a spending plan is the process of budgeting. Budget alludes to this financial strategy. You can analyze your financial status and determine whether you will have enough money to achieve your goals by creating a spending plan. Budgeting consists solely of balancing.
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in a company's swot analysis, which of the following is an example of a threat? a. the company makes a low quality product. b. the company's employees have bad morale. c. there are many competitors in the market. d. the market is not very saturated.
The market is crowded with rival brands. The following details must to be taken into account: The threat example should be used in the SWOT analysis of the organisation when there are numerous rivals in the market. Other instances are not viewed as dangerous.
SWOT analysis is a framework used to assess a company's competitive position and to create strategic planning. It stands for strengths, weaknesses, opportunities, and threats. The SWOT analysis evaluates internal and external variables as well as present and anticipated future situations.
A SWOT analysis is intended to help you take a practical, fact-based, and data-driven look at the advantages and disadvantages of a company, its efforts, or its sector. The organisation must maintain the analyses' objectivity by eliminating preconceived notions or murky areas and concentrating on.
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healthy foods just paid its annual dividend of $1.45 a share. the firm recently announced that all future dividends will be increased by 2.8 percent annually. what is one share of this stock worth to you if you require a 14 percent rate of return? multiple choice $12.56 $12.95 $13.31 $13.68 $14.07
Price of one share of the stock will be $13.31.
P0 = D1 ÷ (ke - g)
Where,
P0 is the price = ?
Currently dividend paid, D0 = $1.45 a share
ke is the required return = 14%
g is the growth rate = 2.8%
D1 is the dividend at end of year:
= D0 × (1 + g)
= $1.45 × (1 + 0.028)
= $1.45 × 1.028
= $1.4906
Therefore,
P0 = 1.4906 ÷ (14% - 2.8%)
PO = 1.4906 ÷ (11.2%)
PO = $13.31
Therefore, the price of one share of this stock is $13.31
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Which of the following is the typlcal sequence of accounting for sales made on account using the allowance method? Place in order of occurrence from top to bottom. Place these in the proper order. A. Specific customer balances are written off B. Bad Debt Expense is estimated and recorded with an adjusting entry C. Accounts Receivable are debited in the period the revenue is recognized
The order of occurrence from top to bottom are-
C. Accounts Receivable are debited in the period the revenue is recognized. B. Bad Debt Expense is estimated and recorded with an adjusting entry A. Specific customer balances are written off .
Define the term allowance method?The allowance technique compares the sales to the projected costs or penalties from uncollectible receivables.
Our accounts receivable are listed on the balance sheet. This number is frequently off because we won't probably be able to acquire all of them.The allowance technique is completely ignoring a reserve for anticipated future bad debts. The reserve is determined as a portion of the sales made during a reporting period, with the percentage of sales possibly being adjusted for client risk.Thus, the sequence for accounting for products sold on account that used the allowance technique, in order of appearance from top to bottom, is as follows:
C. Accounts Receivable are debited in the period the revenue is recognized. B. Bad Debt Expense is estimated and recorded with an adjusting entry A. Specific customer balances are written offTo know more about the allowance method, here
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materials used by the instrument division of ziegler inc. are currently purchased from outside suppliers at a cost of $1,350 per unit. however, the same materials are available from the components division. the components division has unused capacity and can produce the materials needed by the instrument division at a variable cost of $900 per unit. assume that a transfer price of $1,200 has been established and that 75,000 units of materials are transferred, with no reduction in the components division's current sales. a. how much would ziegler inc.'s total operating income increase? $fill in the blank 1 b. how much would the instrument division's operating income increase? $fill in the blank 2 c. how much would the components division's operating income increase? $fill in the blank 3 d. any transfer price will cause the total income of the company to , as long as the supplier division capacity is toward making materials for products that are ultimately sold to the outside.
The answers to the following options are: a) $33750000, b) $11250000, c) $22500000
a) How much would Ziegler Inc. total income of operating increase.
Units X (Cost of purchased from outside supplier - Variable cost)
75000 X ($1350 - $900) = $33750000
b) How much would the Instrument Division's operating income increase
Units X (Cost of purchased from outside supplier - Transfer Price)
75000 units * ($1350 - $1200) = $11250000
c) How much would the Components Division's operating income increase?
Units X (Transfer Price - Variable cost)
75000 units X ($1200 - $900) = $22500000
EBIT, or earnings before interest and taxes, is a financial and accounting term for a company's profit. Interest and tax payments are not included in EBIT. Operating income is a company's adjusted revenue that has been adjusted for depreciation and all other operating expenses. Operating expenses are the costs incurred to sustain the operation of the business. A larger operating margin indicates that the company is producing enough money from its activities to pay for all of its operational expenses.
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select all that apply suppose jack pays his employees $19.25 per hour at his organic rice packaging plant. he does this even though the market rate for this type of work is only $12.50 per hour. what economic explanation can you give for this?
Jack, in my judgement, accepts the efficiency wage hypothesis. According to this hypothesis, raising wages will result in higher labour productivity, fewer employee turnover, and the recruitment of the best candidates.
Therefore, when Jack raises his employees' pay, the improved output will make up for the higher labour expenditures. Jack thinks that by paying greater wages in the end, his profit will rise. According to the efficiency wage theory, raising salaries can enhance labour productivity since it motivates employees to work harder.
Thus, if businesses raise pay, some or all of the higher wage costs will be offset by greater labour productivity and staff retention rates. According to the efficiency wage theory, you should pay your employees more than the going rate for their position.
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the management of the mojito theme hotel estimated that they can generate $180,000 and $190,000 in room revenues in 2011 and 2012 respectively by using some other forecasting methods. however, the total room revenues were actually $185,000 and $200,000 in 2011 and 2012 respectively. the management team wants to come up with a robust forecasting report and they want to see the forecasting results with exponential smoothing model. therefore, based on the information given, if the management would like to sell 2,500 rooms in 2012, what is the forecasted adr in 2012 based on the exponential smoothing model? group of answer choices $84.00 $88.00 $80.00 $92.00
The Forecasted ADR in 2012 based on the exponential smoothing model is $79.2
Exponential Smoothing Method
[tex]f_{t}[/tex] = α [tex]A_{t-1}[/tex] + ( 1 - α ) [tex]f_{t-1}[/tex]
Where,
[tex]f_{t}[/tex] = Forecast Demand for Week t
α = Smoothing constant = 0.8
[tex]A_{t-1}[/tex] = Previous period's actual Demand
[tex]f_{t-1}[/tex] = Previous period's Forecast Demand
For 2012,
[tex]A_{t-1}[/tex]= $2,00,000
[tex]f_{t-1}[/tex]= $1,90,000
Now,
[tex]f_{t}[/tex] = 0.8 * 2,00,000 + ( 1 - 0.8 ) * 1,90,000
= 1,60,000 + 38,000
= $1,98,000
ADR = 1,98,000 / 2,500
= $79.2
The exponential smoothing method is a period series determining technique for univariate information that can be reached to help information with a precise pattern or occasional part. A strong estimating strategy might be utilized as an option in contrast to the well-known Box-Jenkins ARIMA group of techniques.
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kraft, nike, coca-cola, kitchenaid, and sony are all examples of the use of ________ brands.
Kraft, Nike, coca-cola, Kitchenaid, and sony are all examples of the use of manufacturer brands.
Purchaser merchandise, also known as very last goods, are products that can be offered to people or families for non-public use. In different phrases, client products are goods that are sold for intake with the aid of the average patron.
There are two simple logo ownership techniques: producer logo and retailer/keep logo. Explain the special between the manufacturers' possession techniques and provide examples for every. Manufacturers can be owned through any company in the delivery chain, whether or not manufacturers, wholesalers, or shops.
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Achieving increased productivity to benefit the worker and the firm was the goal of?
Achieving increased productivity to benefit the worker and the firm was the goal of Frederick Taylor.
Frederick Winslow Taylor is regarded as the founder of scientific management, or "Taylorism." According to Taylor, the optimal approach for a person to perform a task should be determined, and the right equipment and training should be provided.
Taylor's research focused on raising productivity and, consequently, profitability, and his objective was to do so without overworking employees. Instead of just paying for the job, Taylor believed in identifying the right job for the right worker and rewarding those who worked well for enhanced productivity.
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if household consumption is originally at c0 but households then decide to consume more at each level of real gdp, then the consumption schedule will shift
if household consumption is originally at c0 but households then decide to consume more at each level of real GDP, then the consumption schedule will shift upward.
Intake represents the method by using which items, services, or ideas are used and transformed into the cost. The simple patron conduct process consists of steps that start with customer wishes and end with a fee.
Consumption is the stopping factor of the production process. The satisfaction and quantity of intake have an impact on the standard of living of people in a society. If society produces more than it consumes, it could maintain the residual element for funding so that the financial system keeps growing.
Consumption is the technique of buying or the use of goods and offerings. In other words, doing what consumers in a financial system do – consume. It's by far the simple foundation for economics, in addition to a rustic's broader financial system.
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If alain were asked to take notes at the executive team meeting, the document he created would be called what?.
The document that he created would be called the meeting minutes.
What are the meeting minutes?Minutes, also referred to as protocols or, more colloquially, notes, are the immediate written record of a meeting or hearing. The acronym MoM is used to refer to minutes of meetings. In general, they provide a summary of the proceedings and may include a list of attendees, a statement of the activities that were discussed, and responses or decisions made in relation to those activities. A court reporter or typist may record the meeting's proceedings in shorthand, type the minutes afterward, and distribute them to the attendees. A group may also elect to have the meeting audio or visually recorded, or a secretary may be formally or formally appointed to take notes, which will be used to create minutes later. For the purpose of recording and creating all minutes in real-time, many government agencies use minutes recording software.
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instructions: following is a list of general company characteristics. read each characteristic carefully and determine whether it is a strength, weakness, opportunity, or threat. click and drag each label to its correct spot on the swot matrix.
A SWOT analysis determines internal strengths and weaknesses and external opportunities and threats.
The SWOT (strengths, weaknesses, opportunities, and threats) analytical framework is used to assess a company's competitive position and create strategic planning. SWOT analysis assesses internal and external effects as well as current and potential future conditions.
The purpose of a SWOT analysis is to make it possible to examine the benefits and drawbacks of a company, its tactics, or the market it operates in in a practical, fact-based, and data-driven manner. The organization needs to keep the analysis accurate by eliminating preconceived conceptions or gray areas and focusing on real-life scenarios. Businesses should use it as a suggestion rather than a rigid prescription.
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When a country exports more than it imports, this is known as a trade _________.
Answer:
trade surplus
n a pure market economy, multiple choice production is determined by the interaction of market forces of supply and demand. collectivist goals are given priority over individual goals. all productive activities are owned by the state. the prices at which goods are sold are determined by the government.
In a pure market economy production is determined by the interaction of market forces of supply and demand.
Producers and consumers are free to make their own economic decisions in a pure market economy without interference from a centralised controlling system. The prices of goods and services may be determined by supply and demand in an ideal world where this freedom empowers buyers and sellers to make sensible economic decisions.
In a market economy, entrepreneurs are free to pursue profit by producing outputs that are worth more than the inputs they consume, or, if they choose not to, to fail and close their doors.
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carrie works as a professional photographer and produces visuals for businesses of all kinds. her work appears in catalogs, advertisements, and on corporate websites. what type of photographer is carrie? a. scientific photographer b. portrait photographer c. photojournalist d. commercial photographer
We can say that Carrie is a (D) commercial photographer.
Who is a commercial photographer?Commercial photographer creates photos that promote the goods or services of their clients. They could operate independently or as a group. When they are working alone, they are frequently tasked with developing thoughts that support the realization of their client's visions.The main goal of commercial photography is to advertise companies, goods, and services. Commercial photographers are masters at getting the best shots of you, your company, your goods, and your services to showcase your mission and convey your sales message.Therefore, we can say that Carrie is a (D) commercial photographer.
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the__demand and supply model can be used to describe changes in an economy's price level and real gdp in the short and the long run.
The aggregate demand and supply model can be used to describe changes in an economy's price level and real GDP in the short and the long run.
The combination call for/combination deliver version is a version that indicates what determines overall deliver or overall call for for the economic system and the way overall call for and overall deliver have interaction on the macroeconomic stage. Aggregate deliver is the overall amount of output corporations will produce and sell—in different words, the actual GDP.
The intersection of the economic system's combination call for and long-run combination deliver curves determines its equilibrium actual GDP and charge stage withinside the lengthy run. The quick-run combination deliver curve is an upward-sloping curve that indicates the amount of overall output on the way to be produced at every charge stage withinside the quick run.
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the most successful organizations fully integrate their public relations efforts with advertising, marketing, sales, sponsorship, community relations, and social and digital media efforts so that the external messages all reflect the same theme. group of answer choices true false
The process of combining elements of marketing communication, such as public relations, social media, audience analytics, business development principles, and advertising, into a brand identity that is consistent across various media channels is known as integrated marketing communication (IMC).
What is one of the most important factors in a marketing campaign's success?
Planning a successful marketing campaign necessitates understanding your customers' demographics, requirements, and preferences. It will assist you in identifying important touchpoints and customer journeys. Create buyer personas if at all possible, and go one step further. It will make it possible for your brand to interact with the people you want to reach.
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new york co. has agreed to pay 9 million australian dollars (a$) in two years for equipment that it is importing from australia. the spot rate of the australian dollar is $0.61. the annualized u.s. interest rate is 7 percent, regardless of the debt maturity. the annualized australian dollar interest rate is 10 percent, regardless of the debt maturity. new york plans to hedge its exposure with a forward contract that it will arrange today. assume that interest rate parity exists. determine the amount of u.s. dollars that new york co. will need in two years to make its payment. enter your answer as a positive value. do not round intermediate calculations. round your answer to the nearest dollar.
USD Needed is equal to AUD Needed minus the Forward Rate. USD Needed equals $5,538,900.
How Does a Currency Forward Work?In the foreign exchange market, a currency forward is a legally binding contract that sets a fixed exchange rate for the purchase or sale of a currency in the future.A currency forward is basically a customizable hedging instrument that doesn't require a margin payment upfront.
A highly customized legal agreement, a forward contract for the purchase of foreign currency allows the buyer to acquire a certain number of units at the forward rate specified in the contract. These contracts are typically drafted by a business and a financial intermediary and are not traded with investors.
Let T = 2 be the quantity of years. The following is the forward rate that the interest rate parity condition implies exists between the Australian dollar (AUD) and the United States dollar (USD)
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To maximize your chances of finding useful information, which of the following should be done at the beginning of a research project? A) Jump in by finding resources on the Internet and taking notes from them. B) Develop a formal outline you plan to stick to throughout your researching and writing. C) Conduct an Internet search to determine areas to investigate. D) Develop the conclusion you want to reach and start looking for evidence that supports that conclusion. E) Familiarize yourself with the subject.
To maximize your chances of finding useful information, Develop a formal outline you plan to stick to throughout your research and writing.
Research is “creative and systematic work done to extend the body of knowledge”. A research project can be an extension of previous work in the field. To test the effectiveness of equipment, procedures, or experiments, investigations can reproduce elements of previous projects or whole projects.
The primary purpose of basic research (as opposed to applied research) is the documentation, discovery, interpretation, and research and development (R&D) of methods and systems for advancing human knowledge. Research approaches rely on widely different epistemologies within and outside the humanities and natural sciences. Research can take many forms, including scientific, humanities, arts, economics, social, business, marketing, practical research, life, and technical research. Scientific studies of research practices are called metastudies.
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college president patterson contracts with anissa to teach a business law class. anissa does a fine job teaching, but she has an argument with patterson and will not submit her final course grades. what type of order would patterson seek to require anissa to abide by her contract?
In order to require Anissa to abide by her contract, Patterson would seek an order of specific performance.
In the field of law, an order of specific performance can be described as a type of court order in which the court orders a person to perform the acts that were mentioned when two parties had signed up a contract.
In the scenario above, as Patterson and Anissa had signed a contract for business law, hence Anissa will have to perform all her duties as mentioned in the contract under specific performance. Submitting final course grades will be an essential part of the contract between Anissa and Patterson and hence Patterson can seek an order of specific performance if Anissa fails to do so.
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a(n) system collects, stores, and processes data that people in organizations use to manage daily and long-term operations and to create and sell various types of products.
Information system collects, stores, and processes data that people in organizations use to manage daily and long-term operations and to create and sell various types of products.
An information system is a collection of software, hardware, and communication networks used to collect relevant data, often inside an organization. Many organizations rely on information technology to execute and manage tasks, engage with customers, and remain ahead of the competition.
Information systems are collections of various information resources (for example, software, hardware, computer system connections, the system housing, system users, and computer system information) that are used to gather, process, store, and disseminate information.
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according to the 2018 internet advertising revenue report conducted by pricewaterhousecoopers, which of the following categories had the major share in the advertising format revenue (half year results) ?
According to PricewaterhouseCoopers' 2018 Internet Advertising Revenue Report, which of the following categories generated the highest percentage of revenue from advertising formats? (Half-year outcomes) -Search
54% of all revenue for the second half of 2021 came from advertising. Both mobile and desktop ad revenue reached historic highs in 2021, with mobile ad revenue growing by 37.4% year over year and desktop ad revenue by 30.7% year over year.
Internet users can receive marketing messages in a variety of formats thanks to digital advertising. This comprises adverts on search engine results pages (Search Advertising), advertisements on social media networks, such as sponsored posts, and commercial banners like, for example, so-called skyscrapers. (Banner Advertising); advertisements within video players (Video Advertising); and paid digital classifieds (Classifieds). The worldwide revenue of US$616 billion in 2022 is expected to grow to US$1,005 billion up to 2027.
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jackson deposits $260 each month into a savings account earning interest at the rate of 8% per year compounded monthly. how much will he have in this account at the end of 5 years?
Jackson will have $23242 in his saving account at the end of 5 years.
Define the term savings account?Savings is the money that remains after expenses and other commitments have been subtracted from income. Savings are the sum of money that would otherwise be lying about, not being risked on investments or used for consumption.An essential sort of financial instrument is a savings account, which enables you to deposit funds and normally earns a moderate rate of interest.The formula for calculating the compound interest is-
A = P(1 + r/n100)∧nt
A = Total amount after compoundingP = principal amount ($260 x 12 x 5)n = number of time compounded (12)t = total time in years ( 5 years)r = rate of interest (8% per year).A = 260 x 12 x 5 (1 + 8/1200)∧(12 x 5)
A = 260 x 12 x 5 x 1.48
A = 23,242
Thus, Jackson will have $23,242 in his saving account at the end of 5 years.
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