The statement "Credit cards are a means of borrowing money." is true about credit cards. The correct answer is option E. iii only.
M1 is the money supply that includes physical currency and coins, demand deposits, traveler's checks, and other checkable deposits, including negotiable order of withdrawal (NOW) accounts, savings deposits, and other time deposits in amounts of less than $100,000.
Credit cards are a means of borrowing money that falls under a broader category of credit. Credit cards are not included in M1 because you write a check to pay your monthly bill. Instead, credit cards are included in M2 or M3, which are broader categories that include savings deposits, small denomination time deposits, and other relatively less liquid forms of money.
The money supply is divided into three types, M1, M2, and M3. They have different degrees of liquidity and some are broader than others. M1 is the narrowest definition of the money supply, while M3 is the broadest. M1 includes only the most liquid financial instruments, whereas M3 includes all instruments that are not in M1 and M2. The correct answer is option E. iii only.
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Identify the similarity between the outsourcing and overtime strategies for avoiding a labor shortage. Muitiple Choice Both strategies yleid slow results Both strategies are easy to reverse. Both strategies are expensive to impiement. Both strategies are easy to reverse. Both strategies are expenstve to implement. Both strategles involve contracting with nnother organbration to perform a broad sel of services. Both strategies can be used for reducing labor surplus.
The similarity between the outsourcing and overtime strategies for avoiding a labor shortage is that both strategies involve contracting with another organization to perform a broad set of services.
Outsourcing is the process of hiring an external organization to perform a business activity that would otherwise be performed in-house. It can save companies time and money because they can hire experts who are more cost-effective than hiring and training employees, as well as reduce overhead costs.
Overtime is an employment condition in which employees work beyond their normal work hours, either daily or weekly, to earn extra pay for additional hours worked. Overtime is usually required when there is an increase in production or a shortage of labor, and it can help to meet deadlines and get work done quickly.
A labor shortage occurs when there are more job openings than there are workers available to fill them. This can lead to increased competition for workers and higher wages, as well as a need for strategies such as outsourcing and overtime to meet production and business needs.
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what is one way to measure the effectiveness of your content marketing strategy?
One way to measure the effectiveness of your content marketing strategy is by tracking and analyzing key performance indicators (KPIs) that align with your business goals.
This involves identifying metrics that indicate the success of your content in engaging and converting your target audience.
Some common KPIs for content marketing include website traffic, page views, bounce rate, time on site, social media engagement, lead market generation, conversion rates, and customer retention. By regularly tracking these metrics, you can identify trends and make data-driven decisions to optimize your content strategy.
Additionally, it's important to regularly gather feedback from your audience through surveys, reviews, and social media comments to better understand their preferences and needs. This can help you tailor your content to better meet their expectations and drive more engagement and conversions.
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the use of strategic alliances: group of answer choices is unlikely to yield success if partnering firms are headquartered in the same country. may be too restrictive to facilitate entry into new markets. usually increases the investment necessary to introduce new products. is more frequent than other types of cooperative strategies.
The use of strategic alliances: is more frequent than other types of cooperative strategies.
Strategic alliances are arrangements between firms that involve sharing resources and capabilities. These arrangements enable firms to share risks, reduce costs, and gain access to new markets, technologies, or products.
Some examples of strategic alliances include joint ventures, licensing agreements, supply chain partnerships, research and development partnerships, and marketing partnerships.
It explains the most frequently used type of cooperative strategy which is Strategic Alliances. So, it is concluded that the use of strategic alliances is more frequent than other types of cooperative strategies.
Strategic alliances are more successful when partnering firms are headquartered in different countries, as this provides access to new markets, technologies, and products. Strategic alliances may also be used to increase investment and introduce new products.
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Cassie became ill several hours after eating a meal consisting of plain mashed potatoes and spicy hot wings. She is more likely to develop a taste aversion to ____ .
In the following question, in the missing blank, Cassie became ill several hours after eating a meal consisting of plain mashed potatoes and spicy hot wings. She is more likely to develop a taste aversion to "spicy hot wings." This is an example of taste aversion.
What is taste aversion?Aversion therapy is a method that aims to link an unpleasant stimulus with a negative behavior to eliminate that behavior. Aversion therapy works by using a form of negative reinforcement. Aversion therapy has been used successfully to treat a variety of addictions and problems, including drug and alcohol abuse, gambling addiction, and tobacco use.
What are the reasons for taste aversion?Taste aversion is a psychological phenomenon that happens when someone associates the taste of a specific food or drink with symptoms caused by consumption of it. Because taste aversion is typically brought on by a negative experience with a particular meal, it is often linked to food poisoning, although it can also be triggered by motion sickness or other illnesses.A person who experiences nausea, stomach ache, or vomiting after eating a particular meal is more likely to develop an aversion to that food. Cassie, in this scenario, ate plain mashed potatoes and spicy hot wings and became ill several hours later. As a result, she is more likely to develop an aversion to the spicy hot wings. Therefore, Cassie is more likely to develop a taste aversion to spicy hot wings.
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Economists assume that the goal of consumers is to:
a. do as little work as possible to survive.
b. be as happy as possible given their income.
c. expend all of their income.
d. consume as much as possible.
In general, customers aim to maximize their meager spending power. Given their financial restrictions, they are attempting to maximize overall utility, or contentment.
What is goal of consumers?
Individuals choices of objectives are influenced by their unique histories, physical capabilities, prevailing cultural norms and values, and the accessibility of the goal in the physical and social surroundings. Customers may have a variety of objectives in mind while making choices. Economists use the assumption that customers have a set of likes or preferences that they utilize to help them decide between different products in order to explain consumer behavior. Individuals have very different preferences for these foods.
Consumers and corporations are two types of maximizers that economists pay particular attention to. We assume that businesses aim to maximize economic profit, which is the difference between total income and total cost, and that customers want to maximize utility.
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Which of the following is true regarding business professionals who frequently ask questions and offload their own tasks to others instant messages or email?
They get a reputation as takers rather than givers.
They can be easily misunderstood or misinterpreted.
They help business professionals resolve problems more quickly.
They allow business professionals to connect with better understanding.
The true statement regarding business professionals who frequently ask questions and offload their own tasks to others instant messages or email is that: They can be easily misunderstood or misinterpreted.
Email has become an essential method of communication, particularly in the workplace. People frequently use email for formal business communications, as well as for informal and personal exchanges.
Businesses use email to communicate with employees, vendors, customers, and other external parties, as well as within departments and among coworkers. Emails can also be used for marketing purposes and to communicate with members of the media.
A professional who frequently asks questions and offloads their own tasks to others instant messages or email can be easily misunderstood or misinterpreted. It is important to avoid misunderstandings and to make sure that the message is clear and concise.
Miscommunication can harm relationships, productivity, and overall business success.
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company founders can sell their stock to the public and diversify their investments, reducing risk in their personal portfolios. (advantage or disadvantage)
a public company needs to report its quarterly and annual earnings and ensure that these reports are compliant with sec regulations. (advantage or disadvantage)
it is easier for a publicly traded company to facilitate merger negotiations with an established market price as compared to a privately held firm. (advantage or disadvantage)
public companies have to invest a lot of resources to maintain investor relations.
(advantage or disadvantage)
The followings are advantages and disadvantages of a public company which is as follows.
Advantages:
1. Company founders can sell their stock to the public and diversify their investments, reducing risk in their personal portfolios. This reduces the risk of a single founder holding all the shares and being solely responsible for the company's finances.
2. It is easier for a publicly traded company to facilitate merger negotiations with an established market price as compared to a privately held firm. This is because the public company's shares are easily accessible to potential acquirers.
Disadvantages:
1. Public companies have to invest a lot of resources to maintain investor relations. This includes hiring investor relations personnel, hosting conference calls and investor meetings, and issuing regular financial reports.
2. A public company needs to report its quarterly and annual earnings and ensure that these reports are compliant with SEC regulations. This requires additional resources, including hiring accountants and lawyers to ensure the accuracy and compliance of the reports.
Therefore, the advantages of a public company are diversified investments, and easy facilitation of merger negotiations, while the disadvantages are a high investment for maintaining investor relations and reporting requirements.
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what are the pros and cons of becoming a benchmark firm? if you were the manager of a highly successful company, would you want other companies benchmarking against your firm? why or why not?
A benchmark company is one that is widely regarded as the leader in its industry. Other businesses often benchmark themselves against this company's business procedures, policies, and practices in order to improve their own operations.
What are the pros and cons?Pros:
1. It improves the company's image, reputation, and credibility by being recognized as the industry leader.
2. When a company is regarded as a benchmark company, it attracts high-quality employees and retains existing ones.
Cons:
1. Becoming a benchmark company may increase pressure on the company to maintain its high standards.
2. It might be challenging to identify and maintain the appropriate balance between innovation and growth.
As a manager of a tremendously successful business, the response to the following query is whether or not other businesses benchmark against the company will rely on a number of different aspects. Although being benchmarked by other companies might be flattering, it could also have a few drawbacks.
For example, other companies benchmarking against the firm might lead to a loss of competitive advantage as they may duplicate the company's procedures and practices. Furthermore, being benchmarked by rivals might expose the firm's intellectual property and reduce its exclusivity.
However, if a company feels confident in its own abilities and seeks to promote best practices across the industry, being a benchmark company could be advantageous. In any event, the decision to benchmark should be based on the company's specific business objectives, strategy, and internal readiness.
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Which account have negative impact on the Owner's equity A.Water and Electricity. B.Capital. C.Vehicle. D.Rent income.
Answer:
A
Explanation:
, Water and Electricity have a negative impact on the owner's equity as they are considered as expenses, which decrease the owner's equity. Capital, on the other hand, is a positive factor as it represents the owner's investment in the business. Vehicle can also have a positive impact on owner's equity as it is an asset that can generate income or be sold for a profit. Rent income is also a positive factor as it is a source of revenue and increases the owner's equity.
The government of Lilliput relies on substantial seigniorage to finance its spending, while the government of Blefuscu does not rely on seigniorage at all. Otherwise, the two nations are similar.
a. Lilliput has a ___ rate of money growth. (Higher/Lower)
b. According to the ____ the rate of inflation will be ____ in Lilliput. (fisher effect, quantity theory), (lower/higher)
c. According to the ____ the ____ interest rate will be _____ in Lilliput. (fisher effect, quantity theory), (real/nominal), (lower/higher)
d. Residents of Lilliput hold _____ real money balances and experience ______ shoeleather costs. (lower/higher) (higher/lower)
e. Firms in Lilliput face ____ menu costs. (higher/lower)
f. If both nations tax nominal capital gains, the after-tax real return on savings is _____ in Lilliput. (higher/lower)
g. Inflation uncertainty is probably _____in Lilliput. (lower/higher)
a. Lilliput has a higher rate of money growth, since it relies on substantial seigniorage to finance its spending.
b. According to the quantity theory of money, the rate of inflation will be higher in Lilliput.
c. According to the Fisher Effect, the nominal interest rate will be higher in Lilliput.
d. Residents of Lilliput hold lower real money balances and experience higher shoe leather costs.
e. Firms in Lilliput face higher menu costs.
f. If both nations tax nominal capital gains, the after-tax real return on savings is lower in Lilliput.
g. Inflation uncertainty is probably higher in Lilliput.
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gm believes that electric vehicles will provide the company with access to an underserved market. based on what you know about a swot analysis, the electric vehicle market is a(n)
Based on what is known about SWOT analysis, the electric vehicle market can be considered a potential opportunity for GM.
What is the SWOT analysis tool?SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats facing a company or organization. Opportunities and threats are external factors that are outside of the company's control, but which can have a significant impact on its success.
In the case of GM, the electric vehicle market represents an opportunity because it is an underserved market that the company believes it can tap into with its electric vehicle offerings. This represents a potential opportunity for GM to grow its market share and increase its revenue and profitability.
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ethan is a consultant working on a research project for a client. his research has uncovered findings that are counter to what his customer was expecting. these ethical dilemmas could potentially lead ethan to do what?
As a consultant, Ethan is working on a research project for a client. Ethan has found some findings that are counter to what his customer was expecting. These ethical dilemmas could lead Ethan to do job of a consultant.
What is a Consultant?A consultant is a person who provides specialist advice to their clients on specific problems. They provide information, assistance, and guidance on how to improve operations, reduce expenses, and develop new strategies. As a consultant, Ethan is working on a research project for a client. Ethan has found some findings that are counter to what his customer was expecting.
These ethical dilemmas could potentially lead Ethan to the following steps: Discuss the findings with the client: Ethan can sit down with his client and discuss the findings that he has discovered. During the discussion, Ethan should explain his methodology, his results, and the implications of the results. If the client is open to feedback and new information, the discussion should be productive.
Limit the scope of the project: If the findings are problematic, Ethan can consider limiting the scope of the project. If the findings have the potential to harm the client, it might be in the client's best interest to terminate the project. Share the findings with the client's competitors: If the client is not receptive to the findings, Ethan might consider sharing the findings with the client's competitors. This option should only be considered if the client is involved in unethical or illegal activities. Sharing findings with the client's competitors could harm the client's business and could be legally problematic. Therefore, Ethan should only consider this option if he believes it is necessary.
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the market equilibrium price for two-bedroom apartments in kansas city is $1,200. what will happen to the apartment market in this city if the city government decides to set the price for two-bedroom apartments at $900 in an attempt to make apartment living more affordable for local families?
The market equilibrium price for two-bedroom apartments in Kansas City is currently $1,200. If the city government sets the price at $900, the market price for two-bedroom apartments will decrease to a lower price.
This means that local families may find it easier to afford two-bedroom apartments.
However, landlords may not be willing to accept the lower price, so the supply of apartments may decrease, causing the market to become less competitive.
If the city government sets the price for two-bedroom apartments in Kansas City at $900, which is below the market equilibrium price of $1,200, a housing shortage is likely to occur.
At the price of $900, there will be a higher demand for two-bedroom apartments than the supply that landlords are willing to offer.
The reason is that landlords would be earning less than they would in the free market at the equilibrium price of $1,200.
As a result, landlords would reduce the number of apartments they offer or not build new ones, resulting in a shortage of apartments.
Setting a price floor below the market equilibrium price will lead to a shortage of apartments and various other negative consequences, which may ultimately harm the goal of making apartment living more affordable for local families.
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Which of the following sample planning factors would influence the sample size for a substantive test of details for a specific account? Expected Measure of amount of tolerable misstatements misstatement Group of answer choices a. Expected amount of misstatements b. No Measure of tolerable misstatement c. No Expected amount of misstatements d. Yes Measure of tolerable misstatement e. Yes Expected amount of misstatements f. No Measure of tolerable misstatement g. Yes Expected amount of misstatements h. Yes Measure of tolerable misstatement No
The sample size for a substantive test of details for a specific account is influenced by the factors of "Expected Measure of amount of tolerable misstatements" and "Measure of tolerable misstatement" which is option D.
Sample size is a term used in statistics to represent the size of a sample. It can be defined as the number of observations in a sample. The sample size is critical in deciding the accuracy of a study because a larger sample size will produce more accurate results. If the sample size is small, the study will not be reliable because it is not representative of the population from which the sample was drawn.
In auditing, substantive tests are used to verify the accuracy and completeness of account balances, transaction classes, and disclosures in financial statements. They are intended to be a means of obtaining audit evidence to substantiate the financial statement amounts and disclosures. The substantive test may be of details or analytical procedures. When carrying out substantive tests, the auditor must choose a sample of transactions, balances, or disclosures from the population to test.
The auditor determines the appropriate sample size by considering several factors that influence the risk of material misstatement, such as the expected amount of misstatements, the measure of tolerable misstatement, and other relevant factors.The sample size for a substantive test of details for a specific account is influenced by the factors of "Expected Measure of amount of tolerable misstatements" and "Measure of tolerable misstatement." These two factors are selected because they will help the auditor to obtain a sample size that will be adequate for the purpose of detecting material misstatements that are not acceptable.
Therefore, the correct answer is option (d) Yes Measure of tolerable misstatement.
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You purchase a drone while on vacation in a country outside the U.S. The drone is registered in the foreign country where you purchased it. Upon returning home:
A) You have 14 days to register the drone in the U.S.
B) You must first de-register the drone in the foreign country and then register it in the U.S.
C) You can leave the drone registered in the foreign country but must register it in the U.S.
The correct answer is B) You must first de-register the drone in the foreign country and then register it in the U.S. According to the Federal Aviation Administration, any drone purchased in a foreign country must be de-registered from the foreign country and registered in the U.S. within 14 days of returning home. This is to ensure that the drone is compliant with the aviation laws and regulations in the U.S.
A drone is an unmanned aerial vehicle (UAV), also known as an unmanned aerial system (UAS), a remotely piloted aircraft system (RPAS), or a drone for short. It is a type of aircraft that does not have a human pilot aboard, instead using a remote control to fly or navigate. A drone's use varies for commercial, scientific, military, and recreational purposes.
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Which of the following requires a person to identify the existing relationships among the elements presented and then construct a new relationship among them? Multiple Choice problems of arrangement problems of inducing structure O telegraphic speech O functional fixedness
The situation here denotes the arrangement of the inducting structure.
What is the configuration of the inducing structure?Inducing structure (reasoning by analogy) requires the problem-solver to arrange things in any way that results in the formation of a new relationship between them. Analogies entail ruminating on relationships, particularly relative similarity, in order to create a correspondence between one set of relationships and another. Some problems require the discovery of relationships between elements. "Pineapple is to fruit what cabbage is to ." In this analogy problem, the answer, "vegetable," requires people to figure out the relationship between "pineapple" and "fruit" and apply a similar relationship to "cabbage.
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suppose farmers can use their land to grow either wheat or corn. the law of supply predicts that an increase in the market price of wheat will cause farmers to:
The farmers can use their land to grow either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause farmers to increase the supply of wheat and decrease the supply of corn.
What is the Law of Supply?The law of supply is a fundamental principle in economics that describes how prices and quantities of goods sold in markets are related.
The law of supply states that, all other things being equal, an increase in the price of a good will lead to an increase in the quantity of that good supplied, while a decrease in the price of that good will lead to a decrease in the quantity of that good supplied.
Assume that farmers can choose to produce corn or wheat on their farm. The law of supply predicts that an increase in the market price of wheat will cause farmers to increase the supply of wheat and decrease the supply of corn. Therefore, the farmers will stop planting corn and plant wheat instead.
An increase in the price of a good will lead to an increase in the quantity of that good supplied, while a decrease in the price of that good will lead to a decrease in the quantity of that good supplied.
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the united nations' classification of stages of economic development has been criticized primarily because
The United Nations' classification of stages of economic development has been criticized primarily because it oversimplifies and generalizes the economic conditions and ignores the reality of variations that exist in different countries or regions within a country.
What is the United Nations' classification of stages of economic development?The United Nations has classified countries' economic development into three categories:
developed countries, developing countries, and underdeveloped countries.
-Developed countries are those that have a high standard of living, well-established economies, and advanced infrastructure.
-Developing countries are those that have a relatively low level of industrialization and a moderate standard of living.
-Underdeveloped countries, also known as less developed countries, are those that are behind the developed and developing countries in terms of economic development.
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are the most active participants in the federal funds market. a. credit unions b. commercial banks c. securities firms d. savings and loan associations
The most active participants in the federal funds market are b. commercial banks.
Commercial BanksThe federal funds market is where banks borrow and lend funds to each other overnight to meet the reserve requirements set by the Federal Reserve. This is done so that banks can maintain their desired reserve balances at the end of the day.
Banks that have a surplus of reserves lend to those that need reserves, and they earn interest on those loans. Thus, the most active participants in the federal funds market are commercial banks. Credit unions, savings, and loan associations, and securities firms are not as involved in this market as commercial banks are.
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A corporation uses a perpetual inventory system. It purchased $3,000 of merchandise on August 2 on account. Credit terms were 1/10, n/30. It returned $250 of the merchandise on August 4. Which of the following is one effect when Starlight pays its bill on August 12?
A corporation uses a perpetual inventory system. It purchased $3,000 of merchandise on August 2 on the account. Credit terms were 1/10, and n/30. It returned $250 of the merchandise on August 4. Cash will be decreased by "$2,715"
Purchased $3,000 of merchandise on August 2 on the account. Credit terms were 1/10, and n/30. Returned $250 of the merchandise on August 4 to the account.Solution:
On August 2Purchase A/c Dr 3000 To Accounts Payable A/c Cr3000(To record the purchase of merchandise on account)On August 4Accounts Payable A/c Dr250To Purchase A/c Cr250(To record the return of merchandise on account)On August 12
Accounts Payable A/c Dr2715Cash A/c Cr2715(To record the payment of an account payable)Therefore, the effect when Starlight pays its bill on August 12 is Cash will be decreased by $2,715.
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jamaica is a poor country that borrowed funds from the united states. unable to repay the loan, jamaica has agreed to numerous alliances and trade agreements that benefit the united states. this process in which a powerful nation uses loans and economic power to maintain control over a poor nation is called: neocolonialism slavery globalization caste system.
The process in which a powerful nation uses loans and economic power to maintain control over a poor nation is called neocolonialism.
What is neocolonialism?Neocolonialism is a form of indirect control used by powerful countries over poor countries. It refers to the practice of using economic, political, and cultural power to maintain control over less developed countries.
Neocolonialism can be used as a tool by a powerful country to maintain economic and political control over a poor country, even if it is politically free.
It can also take the form of a powerful country having control over an economically and politically dependent country, which is referred to as a client state. Neocolonialism involves a powerful country having control over another country's resources, including oil, mineral deposits, and agricultural products.
In return, the poor country receives a loan, which it will not be able to repay, and is obligated to trade with the powerful country at a disadvantage. In addition, the poor country is forced to adopt the policies of the powerful country, including the adoption of political, economic, and cultural values.
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Research shows that most managers vary between two or three decision-making styles, and that decision-making styles vary across occupations, job level, and countries.
True or False
It is True.
Research does show that most managers vary between two or three decision-making styles, and that decision-making styles vary across occupations, job level, and countries. Research has shown that there are two main decision-making styles used by managers: directive and participative.
Directive decision-making style is where the manager makes decisions on their own and dictates to their subordinates what must be done. This style is often used in situations where decisions need to be made quickly. On the other hand, participative decision-making style is where the manager involves their subordinates in the decision-making process by seeking their input and opinions before making a decision. This style is often used when decisions require more thought and when the input of multiple stakeholders is required.
Decision-making styles vary across occupations, job level, and countries depending on the specific organization's culture, the industry they are in, and the country they are operating in. For example, in some organizations, the directive decision-making style may be preferred due to the hierarchical structure while other organizations may prefer the participative style. Similarly, some jobs may require a more directive style while others may require a more collaborative approach. Additionally, different countries may prefer different decision-making styles depending on the cultural norms of the country.
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Gold Leaf Computers sources the components for its laptops from various suppliers on the market. The firm pays $100 for processors. $35 for disk drives. $50 for screens, $10 for memory, and $40 for graphics and wireless internet cards. Gold Leaf has determined that it would cost $200 per unit to produce all of the necessary components in its in-house manufacturing facility. In this scenario, Gold Leaf should Multiple Choice o continue to outsource production o vertically integrate, o exit the laptop industry o diversity its activities
Gold Leaf Computers sources the components for its laptops from various suppliers on the market. In order to reduce the production cost of a laptop, Gold Leaf Computers should vertically integrate. Therefore, option B is correct.
Vertical Integration: The process of taking over a company's suppliers and/or distributors to boost a business's efficiency and reduce production costs is known as vertical integration. This can be accomplished either through acquiring a company further up or down the supply chain, or by building up the company's resources in-house in order to perform the necessary functions.
In this scenario, Gold Leaf Computers sources the components for its laptops from various suppliers on the market. The firm pays $100 for processors, $35 for disk drives, $50 for screens, $10 for memory, and $40 for graphics and wireless internet cards. Gold Leaf has determined that it would cost $200 per unit to produce all of the necessary components in its in-house manufacturing facility. It would be more cost-effective to manufacture the components in-house rather than purchasing from suppliers. Therefore, Gold Leaf Computers should vertically integrate.
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companies include the basic eps on their financial statements because it represents the most likely scenario for earnings per share. why do they include the diluted eps?
Companies include diluted EPS (earnings per share) on their financial statements because it provides a more conservative estimate of the company's earnings per share.
Diluted EPS takes into account the potential impact of all the dilutive securities that the company has issued, such as stock options or convertible bonds, that could potentially be converted into common shares and affect the EPS calculation.
By including diluted EPS, investors can get a more complete picture of the company's earnings potential, especially if there are significant dilutive securities outstanding. Diluted EPS is important because it gives investors a more accurate understanding of the potential impact of all the company's outstanding securities on earnings per share, and helps them make informed decisions about the company's stock.
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FIFO Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment
Swasey Fabrication, Inc., manufactures frames for bicycles. Each frame passes through three processes: Cutting, Welding, and Painting. In September, the Cutting Department of the Tulsa, Oklahoma, plant reported the following data:
In Cutting, all direct materials are added at the beginning of the process.
Beginning work in process consisted of 41,000 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials, $1,215,000; direct labor, $222,000; and applied overhead, $150,000.
Costs added to production during the month were direct materials, $2,575,000; direct labor, $3,471,250. Overhead was assigned using the following information:
Activity Rate Actual Driver Usage
Inspection $150 per inspection hour 4,000 inspection hours
Maintenance $750 per maintenance hour 1,600 maintenance hours
Receiving $300 per receiving order 2,000 receiving orders
At the end of the month, 121,000 units were transferred out to Welding, leaving 14,000 units in ending work in process, or 25 percent complete.
Assume that the FIFO method is used.
Required:
1. Prepare a physical flow schedule.
Swasey Fabrication, Inc.
Physical Flow Schedule
Units to account for: Units, beginning work in process Units started (transferred in) Total units to account for Units accounted for: Units completed and transferred out Units, ending work in process Total units accounted for 2. Calculate equivalent units of production for direct materials and conversion costs.
Equivalent Units
Direct Materials Conversion Costs 3. Compute unit cost. Round unit costs & final answer to three decimal places.
$ per unit
4. Calculate the cost of goods transferred to Painting at the end of the month. In your calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar.
$
Calculate the cost of ending inventory. In your calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar.
$
1. Physical Flow Schedule
Swasey Fabrication, Inc.
Physical Flow Schedule
Units to account for:
What is account?An account is a record of financial transactions for a specific entity such as an individual, business, or organization. An account typically lists all credits (money received) and debits (money spent) and may also show the current balance. Accounts may be used to track income, expenses, assets, liabilities, and equity.
Units, beginning work in process: 41,000
Units started (transferred in): 186,000
Total units to account for: 227,000
Units accounted for:
Units completed and transferred out: 121,000
Units, ending work in process: 14,000
Total units accounted for: 135,000
2. Equivalent Units
Equivalent Units
Direct Materials: 227,000
Conversion Costs: 135,000
3. Unit Cost
Unit Cost
Direct Materials: $ per unit: $11.31
Conversion Costs: $ per unit: $26.00
4. Cost of Goods Transferred to Painting at the End of the Month
Cost of Goods Transferred to Painting at the End of the Month
Direct Materials: 121,000 x $11.31 = $1,364,510
Conversion Costs: 121,000 x $26.00 = $3,146,000
Total Cost of Goods Transferred to Painting at the End of the
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An account is a record of financial transactions for a specific entity such as an individual, business, or organization. An account typically lists all credits (money received) and debits (money spent) and may also show the current balance. Accounts may be used to track income, expenses, assets, liabilities, and equity.
Units to account for:Beginning work in process inventory 41,000.
Units started during the month (transferred in) 121,000.
Total units to account for 162,000.
Units accounted for:Units completed and transferred out 121,000.
Ending work in process inventory 14,000.
Total units accounted for 135,000.
The physical flow schedule shows that 135,000 units were accounted for in the Cutting Department during September.
2. Equivalent Units
Equivalent Units
Direct Materials: 227,000
Conversion Costs: 135,000
3. Unit Cost
Unit Cost
Direct Materials: $ per unit: $11.31
Conversion Costs: $ per unit: $26.00
4. Cost of Goods Transferred to Painting at the End of the Month
Cost of Goods Transferred to Painting at the End of the Month
Direct Materials: 121,000 x $11.31 = $1,364,510
Conversion Costs: 121,000 x $26.00 = $3,146,000
Total Cost of Goods Transferred to Painting at the End of the
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consuming 6 widgets provides 295 total utility, while consuming 7 widgets provides 320 total utility. what is the marginal utility of consuming the seventh widget?
Answer:
The marginal utility of consuming the seventh widget is 25.
What is marginal utility?
Marginal utility is the additional satisfaction a consumer obtains from the consumption of one additional unit of a good or service. To put it another way, marginal utility is the change in total utility resulting from consuming one more unit of a product or service.
Step-by-step explanation:
Marginal utility formula: MU = (ΔTU) / (ΔQ)
Where, MU = marginal utility
ΔTU = change in total utility
ΔQ = change in quantity
What is total utility?
Total utility is the sum of all the marginal utility obtained from consuming a given amount of a good or service, i.e. the overall satisfaction received from a consumer's consumption of a good or service. The overall satisfaction is assessed by the total utility. The formula for total utility is:
[tex]TU = (MU₁ + MU₂ + MU₃ + MU₄ + MU₅ + MUₙ) + initial satisfaction[/tex]
The following is a solution to the problem: Consume 6 widgets, and the total utility is 295.
[tex]TU₁ = 295[/tex]
Consume 7 widgets and the total utility is 320.
[tex]TU₂ = 320[/tex]
The marginal utility of consuming the seventh widget is 25.
[tex]MU = (ΔTU) / (ΔQ)MU[/tex]
[tex]= (TU₂ - TU₁) / (7 - 6)MU[/tex]
[tex]= (320 - 295) / 1MU = 25[/tex]
Therefore, the marginal utility of consuming the seventh widget is 25.
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when purchasing for a franchised operation, the franchisee will: group of answer choices buy from approved suppliers buy from the company commissary or central distribution center all of the above buy from any suppliers that meet the quality standards
When purchasing for a franchised operation, the franchisee will buy from approved suppliers, buy from the company commissary or central distribution center and buy from any suppliers that meet the quality standards.
A franchised operation is a business that allows an individual to run their own business under the banner of an already established business. The franchisee typically pays a fee for the privilege of using the name and branding of the franchisor, as well as other support services. The franchisor may have certain restrictions or guidelines for the franchisee's business operations. Therefore, when purchasing for a franchised operation, the franchisee will buy from approved suppliers, buy from the company commissary or central distribution center and buy from any suppliers that meet the quality standards.
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\during a presentation, one of your stakeholders expresses concern that you did not control for differences in the data. which kind of objection are they making? 1 point presentation skills data findings analysis
The stakeholder is making an objection related to the data analysis, specifically questioning whether the differences in the data have been properly controlled for.
What does the objection suggest?The stakeholder's objection suggests that there are differences in the data that may have a significant impact on the findings of the analysis. These differences could be related to various factors such as demographics, experimental conditions, or sampling methods.
Controlling for differences means ensuring that these factors are taken into account and their impact is minimized or eliminated. Failing to do so could lead to biased or inaccurate results.
The objection highlights the importance of conducting thorough data analysis that considers potential confounding factors and controls for them appropriately to ensure the validity and reliability of the findings.
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Two companies have decided to work together on a project and implemented an MOU. Which of
the following represents the GREATEST security risk in this situation?
A. An MOU doesn't define responsibilities.
B. An MOU includes monetary penalties if one party doesn't meet its responsibilities.
C. An MOU can impose strict requirements for connections.
D. An MOU doesn't have strict guidelines to protect sensitive data.
The greatest security risk in this situation is option D, an MOU doesn't have strict guidelines to protect sensitive data.
A memorandum of understanding (MOU) is a contract between two or more parties agreeing on a set of expectations and responsibilities for each.
In general, it is a contract between two parties that outlines a mutual understanding, which is why it is also known as a letter of intent. There are many advantages to using a memorandum of understanding.
The most important benefit is that it enables the parties to come to an agreement without having to go to court. It's also a quicker and easier way to negotiate contracts than other methods.
It's also used to show commitment to a specific project or activity, and it may be used in any industry. It is essential to note that an MOU is a non-binding contract.
As a result, if one of the parties doesn't fulfill its obligations, the contract cannot be enforced.
Therefore, the greatest security risk is associated with sensitive data protection guidelines.
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A ______ is one between a manufacturer and a dealer, which assigns the dealer an exclusive territory, and the manufacturer agrees not to sell to other dealers in that territory in exchange for an agreement by the dealer that it will not operate outside the area assigned.
A. vertical territorial agreement
B. conglomerate territorial agreement
C. congeneric territorial agreement
D. tying territorial agreement
E. per se territorial agreement
Answer:
B. conglomerate territorial agreement