Answer:
Scheduling and travel= $80 per hour
Setup time= $170 per set up
Supervision= $0.2 per direct labor dollar
Explanation:
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Commercial Residential
Scheduling and travel 800 550= 1,350
Setup time 450 250=700
Direct labor costs 110,000 290,000= $400,000
Scheduling and travel= 108,000 / 1,350= $80 per hour
Setup time= 119,000 / 700= $170 per set up
Supervision= 80,000 / 400,000= $0.2 per direct labor dollar
TRUE OR FALSE the fed aggressively lowered interest rates in 2008 all the way down to nearly zero percent and kept those historically low rates for the following six years.
Interest rates were sharply cut by the Fed in 2008, reaching about zero percent, and they remained there. True.
What are the current interest rates?According to Bankrate's most recent survey of the biggest mortgage lenders in the US, the average 30-year fixed mortgage rate will be 6.600% with an APR of 6.610% on Thursday, December 15, 2022. With an APR of 6.030%, the typical 15-year fixed mortgage rate is 6.000%.
Why is interest right now so high?The Federal Reserve has started raising interest rates in an effort to calm down fast growing inflation. In light of these moves, many individuals are now perplexed as to why rate increases, which raise the cost of borrowing money, remain America's main tool for reducing costs.
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Which of the following principles should be followed by business organizations that desire to handle and process customer data in an ethical manner? A) The person or organization that provided the data owns the data and has the right to determine what is done with that data. B) The person or organization that holds another's data should delete any records on the request of the provider including any summarized information derived from the data. C) Companies hold data in trust for the provider and therefore must keep data secure from unauthorized disclosure. D) All of the above
The person or organization that holds another's data should delete any records on request of provider including any summarized information derived from data should be followed by business organizations that desire to handle and process customer data in ethical manner.
What is customer data?Customers' personal, behavioral, and demographic information is referred to as "customer data" or "consumer data" by marketing firms and departments who gather it from their clientele. Customers' privacy is infringed upon to some level by data gathering; therefore, precise restrictions on the kinds and quantities of data that may be gathered must be in place. In consumer analytics, the gathered data is processed. Insights into consumer behavior are thus the goal of data collecting, which will ultimately lead to profit maximization through customer base consolidation and growth. In the age of the internet, explicit online surveys are a popular way to gather client information. However, there are also covert techniques, such as tracking click-through and desertion rates. Customer information is obtained for market research, particularly for studies on customer satisfaction, with the goal of boosting total customer satisfaction.
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an important distinction both practically and conceptually is the difference between an easement and a license. all of the following characteristics pertain to a license except:
The contrast between an easement and a license is significant both practically and theoretically. A license has all of the following features, with the exception of: A license lasts forever.
A license to use property differs from an easement in that it can be revoked. An easement transfers title. A license is permission, but an easement is a right. While a license is not for a certain amount of time, an easement is. While a license does not survive the sale of the affected land, an easement does. The ideas that one person has a legal claim to an easement and profit The bearer of a license may also utilize the property of another individual.
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TRUE OR FALSE one of the important factors to consider in the selection of contract type is the degree of risk for the seller and the buyer that each type of contract presents.
The given statement ''one of the important factors to consider in the selection of contract type is the degree of risk for the seller and the buyer that each type of contract presents'' is true.
What is contract selection?The choice of a contract is made based on the scope's ambiguity, the distribution of risk, the requirement for predictable costs, and the significance of achieving deadlines. When the scope is well specified, the whole fixed cost is one price.Fixed-price and cost-reimbursement contracts with the federal government are the two primary categories that are most frequently used. Incentives, time-and-materials, labor-hour, indefinite delivery, and letter contracts are examples of other contract forms.Fixed-price agreements. When someone is certain of the scope of the task, this sort of contract is the best. This contract, sometimes referred to as a lump sum agreement, is the most effective technique to keep expenses down when you can foresee the scope.Learn more about contract refer to :
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manufacturers legally must:
aImagine how consumers might reasonably be expected to use or misuse their products b. May sometimes be expected to provide compensation resulting from even unreasonable misuse if that misuse becomes widespread . c. Both and b. . Neither a or b
Manufacturers legally must imagine how consumers might reasonably be expected to use or misuse their products and expect to provide compensation. Thus option C is correct.
Who is the manufacturer?A manufacturer is a human or business that turns raw materials into finished products using a variety of tools, machinery, and procedures, and then sells those products to consumers, wholesalers, marketers, stores, or other makers who can use them to make more complicated products.
The retailer's inaction despite learning about a dangerous flaw. According to tort law, when a product causes a consumer injury but no one is to blame, the maker is still liable.
Legally, producers are required to consider the potential uses and abuses of customers' products and plan to compensate them. Therefore, option C is the correct option.
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Determine Rainie s stock-Bse tompu M8-27. Identifying, Analyzing and Explaining the Effects of a Stock Split On September 1, Weiss Company has 300,000 shares of $9 par value (S148 market value) common stock that are issued and outstanding. Its balance sheet on that date shows the following accoumt ances relating to its common stock. Paid-in capital in excess of par value. 1,680,000 On September 2. Weiss splits its stock 3-for-2 and reduces the par value to $6 per share. a. How many shares of common stock are issued and outstanding immediately after the stock splic b. What is the dollar balance of the common stock account immediately after the stock split? c. What is the likely reason that Weiss Company split its stock?
If 450,000 shares of common stock are issued and outstanding immediately following the stock split, and the balance of common stock is unchanged, the balance remains at $270,000.
What is common stock?Common stock is a type of security that represents corporate equity ownership. Outside of the United States, the terms voting share and ordinary share are also commonly used.
In the United Kingdom and other Commonwealth countries, they are referred to as equity shares or ordinary shares.
a. Computation of number of shares of common stock are issued and outstanding immediately after the stock:
According to the given information,
300,000 Share*3/2 = 450,000 common stock are issued and outstanding immediately after the stock.
b. Computation of dollar balance of the common stock account immediately after the stock split:
As per the given information, the balance of common stock is unchanged stock split, then the balance remains at $270,000.
c. Determination of reason that Weiss Company split its stock:
The given company may have splinted its stock to reduce the market price of stock and improve the stock's marketability.
However, earnings per share will go down.
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Which of the following is true about easements?
1 The easement holder owns the land
2 It has no right to possession, only non-exclusive use of the land
3 It can be defined is the exact same thing as a right-of-way
4 The cost almost varies in direct portion to the amount of land involved
It can be defined is the exact same thing as a right-of-way is, true about easements. Thus, option 3 is correct.
What are the easements?An easement is a single aspect right to use and/or enter another's real property without owning it. It is best exemplified by the right of way that one landowner, A, may have over the land of another.
An easement is the constitutional right to exercise privileges over the land of another person. This means that the public or an individual can cross or use someone else's land for a variety of reasons.
Therefore, option 3 is correct that, true statement about easements, is that it can be defined as the same thing as a right-of-way.
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Determine the depreciation, for the year of acquisition and for the following year, of a fixed asset acquired on October 1 for $500,000, with an estimated life of 5 years, and residual value of $50,000, using:
a. The double declining-balance method. Assume a fiscal year ending December 31.
Year of acquisition: $
Following year: $
b. The straight-line method. Assume a fiscal year ending December 31.
Year of acquisition: $
Following year: $
The double declining-balance method depreciation for year of acquisition is $200,000 and following year is $120,000. The straight-line method depreciation for year of acquisition and following year is $90,000.
Give a brief account on double declining-balance depreciation method.One of two popular methods a corporation uses to account for the expense of a long-lived asset is the double-declining balance depreciation (DDB) approach, sometimes referred to as the lowering balance method. Compared to straight-line depreciation, which applies the same amount of depreciation each year over an asset's useful life, the double-declining balance depreciation method accelerates the pace at which expenses are recorded. The double-falling approach depreciates assets twice as quickly as the traditional declining balance method.
To solve the question :
(a) Double-declining balance:
To calculate depreciation rate.
Depreciation rate :
= 2 / estimated value
= 2 / 5 = 0.40
To calculate the depreciation for the acquisition year, we multiply the purchase cost by the depreciation rate. The residual value is disregarded.
Depreciation = 0.40 × $500,000 = 200,000
Year of acquisition = $200,000.
We increase the depreciation rate by the asset's book value for the upcoming year. The difference between the asset's acquisition cost and cumulative depreciation is its book value.
depreciation = 0.40 × ($500,000 - 200,000) = 120,000
The depreciation of the following year is $120,000
(b) Straight-line method:
The depreciation follows a straight line and is constant over time. Calculate the annual depreciation now. Formula :
depreciation = acquisition cost - residual value / estimated life
depreciation = 50,000 - 5,000 / 5 = 90,000
The depreciation of the year of acquisition and following year is $90,000
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T/F the comparison of a purchase to expectations is thought to occur whether theitem purchased is comprised primarily of search, experience, or credencecharacteristics.
The statement is True. The Comparison of purchase to expectations is thought to occur whether the item purchased is comprised primarily of search, experience, or credence characteristics.
A business overall performance contrast Survey (or internal benchmarking) provides firms with the opportunity to examine their performance with comparable firms of their industry or institution; consisting of the better-appearing corporations. the act of comparing two or extra people or things: They made a comparison of different nations' ingesting habits. with the aid of/In assessment with the French, the British consume ways much less fish. You can not honestly draw a contrast between the two cases - they're absolutely distinct.
There are 3 types of viable comparisons: equal, comparative, and superlative. evaluation keys uniquely perceive every single row in a table or a view for both the source and target. whilst comparing information assets, facts compare for sq. The server uses a matching primary key or other unique identifiers in each statistics source because of the assessment key.
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If Zeta, a single producer, had exclusive control of a key resource needed to produce good Z , a likely result would be which of the following?
a) Good Z would be produced in a perfectly competitive market.
b) Slight differences in output would lead to good Z being in a monopolistically competitive market.
c) There would be a barrier to entry, and Zeta would have a monopoly on good Z.
d) Only a few firms would produce good Z, so there would be an oligopoly.
e) Zeta must have decreasing returns to scale and operate as a natural monopoly in producing good Z.
The correct option is E. There would be a barrier to entry, and Zeta would have a monopoly on good Z.
A monopoly is when one enterprise and its product dominate a whole industry wherein there is little to no opposition and customers should purchase that specific precise or provider from the only agency. An oligopoly is a small wide variety of corporations, rather than simply one, dominating an entire enterprise.
Without competition, monopolies can set fees and preserve pricing regular and reliable for customers. Monopolies revel in economies of scale, regularly able to produce mass portions at decreased prices consistent with units. standing by myself as a monopoly allows a business enterprise to safely invest in innovation without the worry of competition. without opposition, monopolies can set prices and preserve pricing consistent and reliable for purchasers. Monopolies revel in economies of scale, regularly able to produce mass portions at decreased costs per unit. status on my own as a monopoly lets an organization soundly spend money on innovation without the worry of competition.
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The salesperson who joins a real estate company as an independent contractor will probably have to pay for his own
The independent contractor salesperson who joins a real estate firm will likely be responsible for covering his own hospitalization insurance.
A person whose job it is to sell products or services within a defined territory, in a physical place, or over the phone is known as a salesman or saleswoman. The salesperson is in charge of greeting clients, pointing them in the direction of the goods they require, and totaling transactions. If you want to succeed in sales, you must have excellent communication skills. A successful salesperson meets their sales targets and treats customers politely and helpfully.A salesperson is sometimes known as a sales rep. The terms "salesman" and "saleswoman" are still regularly used, despite the terms "salesperson" and "sales rep" being frequently used in their place.
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The independent contractor salesperson who joins a real estate firm will likely be responsible for covering his own hospitalization insurance.
A person whose job it is to sell products or services within a defined territory, in a physical place, or over the phone is known as a salesman or saleswoman. The salesperson is in charge of greeting clients, pointing them in the direction of the goods they require, and totaling transactions. If you want to succeed in sales, you must have excellent communication skills. A successful salesperson meets their sales targets and treats customers politely and helpfully. A salesperson is sometimes known as a sales rep. The terms "salesman" and "saleswoman" are still regularly used, despite the terms "salesperson" and "sales rep" being frequently used in their place.
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as discussed in the textbook, disruptive innovations are more likely to come from large corporations with extensive resources. true or false
false as discussed in the textbook, disruptive innovations are more likely to come from large corporations with extensive resources.
Disruptive inventions typically come from where?Innovative breakthroughs usually start in low-end or emerging markets. The fact that disruptive ideas begin in two different sorts of markets that incumbents ignore makes them conceivable.
Why disruptive technologies can lead to the failure of huge companies?Due to the fact that disruptive innovations do not please their existing clients, the majority of large companies are not comfortable with them. They solely pay attention to the needs of regular consumers. Customers will continue to evolve items if they want better ones.
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The CEO jeffery lebowski is meeting with his top managers to determine how best to compete successfully in the company's market. This group is developing the company's ________.A) strategyB) competitive advantageC) strengths and weaknessesD) opportunities and threats
The CEO Jeffery Lebowski is meeting with his top managers to determine how best to compete successfully in the company's market. This group is developing the company's strategy.
All the choices made and actions performed by a company to realize its wider vision are referred to as its business strategy. Businesses can become industry leaders by understanding business strategy and putting it into practice effectively.
The CEO and senior managers of a firm set the strategy and decide how best to use all of the company's resources. They are in charge of overseeing operations, distributing power, putting in place structure, and promoting profitability. They gather to talk about the business's development because they make the decisions for it.
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which of the following best explains how income taxes can moderate a business cycle during an expansion?
Tax payments increase automatically as gross domestic product (GDP) rises, which dampens consumption spending.
The standard measurement of the value added produced via the production of goods and services in a nation over a specific time period is the gross domestic product (GDP). Consequently, it also accounts for the revenue generated by such manufacturing, or the total amount spent on finished products and services (less imports).
For instance, if Country B produced 5 bananas value $1 each and 5 backrubs of $6 each in a year, the GDP would be $35. The GDP of Country B would be $40 if the price of bananas increased to $2 the next year and the amount produced remained same.
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Alison has an idea for improving the efficiency of her work area. When she approached herâsupervisor, she was asked to shepherd the idea through theâ approval, implementation, and evaluations processes. Alison has become aâ ________.
A.
change agent
B.
group leader
C.
supervisor
D.
job coach
She was asked by her supervisor to guide the proposal through the steps of approval, execution, and evaluation. Alison is now a catalyst for change.
Which of the following best describes the order in which the strategic management process should occur?Setting goals, conducting analysis, developing a plan, putting that strategy into action, and monitoring that approach are the five stages of the process.
Which two aspects of strategic management are there?adjusting the firm's limited resources in response to changes in the external environment in order to strengthen its position in the marketplace. The internal reactions to fresh action plans meant to improve the firm's competitive position make up the second dimension.
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in terms of innovation characteristics, a product is said to be compatible if question 31 options: 1) it provides greater value to the manufacturers than to the consumers. 2) the degree of social repercussions associated with it is high. 3) its benefits can be communicated easily. 4) it has a higher degree of complexity compared with its counterparts'. 5) it complies with the accepted behavior, values, and norms of the local market.
In terms of innovation characteristics, a product is said to be compatible if it complies with the accepted behavior, values, and norms of the local market.
Examples of product innovationsIt includes the use of biodegradable oil-based polymers in Lego's world-famous bricks. Innovation also occurred with the introduction of the first electric cars to the automotive industry and continues to occur with the development of new batteries with increased range.
What serves as the basis for innovation?The goal of innovation is to develop fresh concepts and tools that boost output, value, and productivity while using the same input. Innovation has been accountable for up to 85% of all economic growth, according to the aforementioned Stanford study.
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Mr. michael bloomberg, the former mayor of new york city, is the billionaire founder of the company which is providing financial information through various media. bloomberg company is choosing the form of for their organizations.$ corporationLimited partnershipSole proprietorshipC corporation
The form of organization chosen by Bloomberg is limited partnership. When two or more partners form a limited partnership (LP), the limited partners are only responsible up to the amount of their investment.
A limited partnership (LP) is a type of partnership identical to a general partnership, except that a limited partnership must have at least one GP and at least one limited partner, whereas a general partnership must have at least two GPs. Limited partnerships are distinct from limited liability partnerships, which have limited responsibility for all partners. The GPs have the same legal status as partners in a traditional business in all key ways: they have management authority, share the right to utilize partnership property, split the firm's earnings in predetermined proportions, and have joint and several liability for the partnership's obligations.
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when food lion, a national supermarket chain, uses a special promotion to price a four-pack of soda at $2.09 (which is below its customary price level of $3.59), it is attempting to
With its corporate office in Salisbury, North Carolina, Food Lion is a national chain of supermarkets with more than 1100 locations serving 10 states in the Mid-Atlantic and Southeast.
It employs over 63,000 people. It began as Food Town, a small grocery shop in Salisbury, in 1957. On April 27, 2018, Food Lion declared its intention to buy four BI-LO shops in South Carolina's Florence, Myrtle Beach, Surfside Beach, and Columbia. Food Lion announced on June 3, 2020, that it will buy 62 Southeastern Grocers locations in North Carolina, South Carolina, and Georgia. In 2021, they will change their names from BI-LO and Harvey's. Food Lion LLC is a supermarkets store chain with its corporate office in Salisbury, North Carolina, and 1,029 stores spread over 10 Mid-Atlantic and Southeastern states.
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bonnie purchased a camera (5-year property) for use in her sole proprietorship. the basis of the camera was $3,000. bonnie used the camera in her business 80 percent of the time and used it for personal purposes the rest of the time during the first year. ignoring bonus depreciation, calculate bonnie's depreciation expense during the first year assuming the sole proprietorship had a loss during the year. (use macrs t
Bonnie's depreciation expense during first year assuming sole proprietorship had loss during the year is $360.
What is sole proprietorship?There is no legal separation between the owner and the business entity in a sole proprietorship, which is also referred to as a sole tradership, individual entrepreneurship, or proprietorship. A sole proprietor may employ other persons in addition to working alone. The proprietor is the owner of all of the business's assets and is also responsible for all of its debts. Sole proprietors are permitted to use a trade name or company name other than their or the company's legal name. If their business name differs from their legal name, they may need to formally register a trademark for it; the procedure will depend on the nation in which they live.
Depreciation= $3,000 * 0.2 * 60% = $360.
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All of the following statements are true regarding an application by an insurer for a rate change EXCEPT
A. The application will be deemed approved 60 days after public notice unless the proposed adjustment exceeds 10% for personal lines or 25% for commercial lines.
B. The Commissioner will notify the public of any application by an insurer for a rate change.
C. The application will be deemed approved 60 days after public notice unless a consumer requests a hearing and the Commissioner grants the hearing.
D. The application will be deemed approved 60 days after public notice unless the Commissioner on his or her own motion determines to hold a hearing.
All of the following about an insurer's request for a rate change is accurate, with the exception that unless a customer asks for a hearing and the Commissioner permits it, the proposal will be presumed accepted 60 days after public notice. The right response in this case is option C.
An insurance company's request to alter the rates it charges for its insurance policies is referred to as an "application by an insurer for a rate modification." This might involve requests for premium increases, decreases, or other modifications to the policies terms and conditions.
For a number of reasons, insurance firms may submit applications for rate modifications. For instance, they can try to raise their rates if the price of providing coverage rises due to higher claim payments or changes in the price of medical treatment.
Additionally, they could try to modify their rates in reaction to shifting market dynamics like heightened competition or shifting client demand.
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a measure of the percentage of individuals who visit the landing page of an online retailer triggered by an email marketing campaign is the
The Conversion Rate is a metric used to describe the proportion of people who go to an online retailer's landing page after being directed there by an email marketing campaign and actually complete a purchase.
What exactly does the conversion rate in marketing mean?Conversion rate is the number of users who take the desired action as a percentage of all users. Conversion rate's archetypal example is the percentage of website visitors who actually make a purchase there.
The percentage of site visitors that took the action you requested is indicated by your landing page conversion rate.
What does conversion rate provide as a measure of?Calculated by the conversion rate is the percentage of site visitors who made a purchase as a result of their visit. The higher your conversion rate, the more effective your information will be. The term "conversion," as used in marketing, refers to the action that a user takes in response to a call to action.
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According to the international Fisher effect, if investors in all countries require the same real rate of return, the differential in nominal interest rates between any two countries:
The International Fisher Effect (IFE) states that when two countries have different nominal interest rates, the difference between them is equal to the expected difference between the two countries which is due to their inflation differentials.
This theory was first proposed by economist Irving Fisher in 1930 and has become one of the most important theories in international finance. According to the IFE, if investors in all countries require the same real rate of return, the differential in nominal interest rates between any two countries should be equal to the expected difference between the two countries in the rate of inflation.
For example, if the expected rate of inflation for the U.S. is higher than the expected rate of inflation for Japan, then investors in the U.S. should expect to earn a higher nominal interest rate on investments in the U.S. relative to investments in Japan. This is because the expected rate of inflation in the U.S. is higher than the expected rate of inflation in Japan, so the real rate of return will be higher in the U.S. than in Japan. This, in turn, leads to an increase in nominal interest rates.
The International Fisher Effect is an important theory in international finance because it provides a way for investors to compare returns on investments across countries. By understanding the expected difference in inflation between two countries, investors can adjust their expectations for the nominal interest rate they will receive when investing in the different countries. This theory also helps to explain why some countries have higher nominal interest rates than others.
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Complete question :
Options-
follows their exchange rate movement.
is due to their inflation differentials.
is zero.
is constant over time.
in order to gather specific data by a company regarding a defined issue by this company, it will use______. selective data normative data secondary data primary research universal sampling
In order to gather specific data by a company regarding a defined issue, it will use a combination of primary research, secondary data, normative data, selective data, and universal sampling.
Primary research is data that is collected by the company itself, either through surveys, interviews, focus groups, or observation. Primary research is often used when there is no already existing data to draw upon, and it can be costly and time consuming. Primary research is useful for gathering specific data that can be tailored to the company’s needs.
Secondary data is data that is already available and has been collected by someone else, such as a government agency or another company. This data can be used to supplement primary research, or to provide additional insight into a particular issue. Secondary data is often more cost effective than primary research, and can provide a deeper understanding of an issue.
Normative data is data that is used to compare a company’s performance to that of the industry or market. This data is usually collected from industry sources, such as trade associations or market research firms, and can provide valuable insight into a company’s performance relative to its competitors.Selective data is data that is collected from a specific group or population.
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Sam has $200 a month to spend on either tanning sessions or rounds of golf. Tanning sessions are $20 each, and a round of golf is $50. A point on Sam's budget constraint would be:
Multiple Choice
20 tanning sessions and 8 rounds of golf.
10 tanning sessions and 5 rounds of golf.
10 tanning sessions and 4 rounds of golf.
5 Tanning sessions and 2 rounds of golf.
Sam will not be able to afford all combinations given in the other options as they will cost him more than his money income.
What is a budget constraint?In the field of economics, a budget constraint refers to all the possible combinations of goods and services that a consumer could buy at the market's current pricing and within the limits of his or her available budget. The notions of a budget restriction and a preference map are tools used by consumer theory to explore the dimensions of consumer choices. The total number of things you can buy with your present budget is your budget constraint. The range of options possible within a certain budget is illustrated by a budget limitation. Opportunity cost is the sum or object you forfeit in favor of something else.
Sam's budget constraint would be five training sessions and two rounds of golf since five training sessions will cost him $100 and two rounds of golf will cost him $100 as well. Sam will not be able to afford all of the combinations given in the other options as they will cost him more than his given money income.
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Jonathan intends to have maximum control over his decisions in his business. Which of the following forms of business organizations is most likely to give Jonathan total control over his business decisions?A. sole proprietorshipB. partnershipC. corporationD. S corporationE. limited liability company
Sole proprietorship of the following forms of business organizations is most likely to give Jonathan total control over his business decisions.
What is a business organization?An entity specifically for the purpose of conducting business is a business organization. A system of law controlling contract and trade, private property, and incorporation is the foundation of such an organization.
What is a corporate organization's primary goal?A business organisation is made up of people who cooperate in a planned and organized way to achieve a common objective. The operation of a business is the primary objective of a business organization. A corporate organization is formed when two or more people collaborate to conduct business.
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the u.n. convention on contracts for the international sales of goods (cisg) includes provisions relating to which of the following?
The UN convention on contracts for the international sales of good includes - it the basis for a widely accepted body of international sales law.
A multinational agreement that creates a common foundation for global trade is the United Nations Convention on Contracts for the International Sale of Goods, also referred to as the Vienna Convention. It has been ratified by 95 nations as of 2022, accounting for two thirds of global commerce.A multilateral international treaty is the CISG. By establishing a consistent rule that regulates contracts for the sale of products internationally, it seeks to boost global trade and decrease trade disputes.-Better shot at getting contract enforced internationally in case of a breach.-Protection for those who forgot to put a Choice of Law provision in the contract.To know more about Goods here
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Shift in cost curves due to a relative change in input price Suppose a firm is initially producing 300 units of output at point B, where the purple line labeled Total Cost 1 lies tangent to the blue line labeled q = 300. Initially, the wage (w) is $10
A cost curve is a graphical representation of the relationship between the total cost of production and the quantity of product produced.
Where the purple line labeled Total Cost 1 lies tangent to the blue line labeled q = 300. Initially, the wage (w) is $10?
If the wage (w) increases by 20% to $12, the cost curves will shift to the right, as can be seen in Total Cost 2. This rightward shift results in a decrease in the quantity produced, as seen in q = 250. The new tangency point lies at point C.
This shift in cost curves is due to the relative change in input price (in this case, the wage). Because the wage increased by 20%, the cost of producing each unit of output increases as well. This increase in cost leads to a reduction in the quantity produced, as it is no longer cost effective to produce the same quantity as before.
The same logic applies in the opposite direction. If the wage decreases by 20%, the cost curves will shift to the left, resulting in an increase in the quantity produced.
What does Total cost mean?
The total cost of a purchase or project is the sum of all costs associated with it. This includes the cost of materials and labor, as well as any additional fees or taxes related to the purchase. Total cost can also refer to the total amount of money invested in a business venture or project, including all capital and operating costs incurred throughout the project's life cycle.
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the balance sheet of pina company at december 31, 2016, includes the following. notes receivable $81,000 accounts receivable $262,250 less: allowance for doubtful accounts 14,600 $247.650 - / 15 transactions in 2017 include the following. 1 accounts receivable of $191,000 were collected including accounts of $99,000 on which 1% sales discounts were allowed. $7,200 was received in payment of an account which was written off the books as worthless in 2016 3. customer accounts of $21,350 were written off during the year. at year-end, allowance for doubtful accounts was estimated to need a balance of $18,500. this estimate is based on an analysis of aged accounts receivable. prepare all journal entries necessary to reflect the transactions above.
The journal entries necessary to reflect the transactions
1. On January 1, 2017, Accounts Receivable was debited for $191,000 and Sales Discounts was credited for $990 (1% of $99,000).
2. On January 1, 2017, Bad Debt Expense was debited for $7,200 and Allowance for Doubtful Accounts was credited for $7,200.
3. On December 31, 2017, Bad Debt Expense was debited for $21,350 and Allowance for Doubtful Accounts was credited for $21,350.
4. On December 31, 2017, Allowance for Doubtful Accounts was debited for $18,500, and Accounts Receivable was credited for $18,500,
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Discuss the concept of 'Price Determination'
Answer: Price determination is the interaction of the broad. forces of supply and demand which “determine” or. cause the market price level. Price discovery is the process of buyers and sellers.
Explanation:
Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?
social dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people
A business man who temporarily lives and/or works outside of their place of citizenship for professional reasons is referred to as an expatriate. Another way to describe it is as a person who moved from their nation of origin to another permanently or for a prolonged period of time. An allowance is a predetermined amount of money given by employers to employees to cover expenses above and beyond basic wage. It can also be described as an amount that is allowed or permitted in accordance with some rules or for a particular purpose.
Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?
1. social
2. physical
3. economical
4. beliefs
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