False, Entrepreneurs work longer hours, are more at danger of losing their income, and make 4% to 15% less money annually on average than wage earners. Additionally, their earnings increase more slowly over time.
What sets a worker apart from both other workers and business owners?Employees fulfill the duties while firm owners make plans. While a worker can concentrate on the tasks at hand day by day, a business owner must assess how well they are being done in light of the organization's long-term objectives.
Entrepreneurs put in more hours, are more likely to lose their job, and earn 4% to 15% less annually on average than employees. They also see a slower rate of earnings growth over time. Few business owners actually earn much more money than they did as employees.
What are the differences between entrepreneurship and wage employment?People select their line of job from paid employment and self-employment. Based on her degree of abilities, the individual is assigned a wage bracket as a wage worker. People invariably start their own businesses whenever the profit is higher than what an employee could earn.
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How many locations does Publix Super Markets have?
Publix Super Markets has 1,307 sites. Publix's Surfside, Florida, storefront.
The employee-owned American grocery company Publix Super Markets, Inc., also known as Publix, has its headquarters in Lakeland, Florida. Publix is a privately held company that is entirely owned by current and former employees as well as members of the Jenkins family.
It was established in 1930 by George W. Jenkins. With locations in Florida (836), Georgia (197), Alabama (83), South Carolina (66), Tennessee (53), North Carolina (51), and Virginia, Publix operates throughout the Southeastern United States (19). From 1926 through 1930, George Jenkins served as a manager and a stock clerk at Piggly Wiggly. Jenkins chose the name "Publix" from a faltering New York-based movie theatre firm when he made the decision to launch his own food shop.
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Steve Gaimes is paid overtime for all time worked past 40 hours in a week. His
regular-time pay rate is $12 an hour, and his overtime pay rate is $18 an hour.
Last week Steve worked 47.3 hours.
15. How many regular-time hours did Steve
work last week? 40
16. How many overtime hours did he work last
week? 7.3
17. What was Steve’s regular-time pay last
week? $480
18. What was his overtime pay last week? $131.40
19. What was Steve’s gross or total pay last
week?
The number of regular hours, overtime hours, regular amount, overtime amount, and total amount will be 40 hours, 7.3 hours, $480, $131.4, and $611.4, respectively.
What is the rate?The rate is the ratio of the amount of something to the unit.
Steve Gaimes is settled overtime for all periods operated past 40 hours in a week. His standard-time pay rate is $12 an hour, and his overtime pay pace is $18 an hour. The previous week Steve performed 47.3 hours.
Then the overtime is given as,
⇒ 47.3 - 40
⇒ 7.3 hours
The amount earned in 40 hours is given as,
⇒ $12 x 40
⇒ $480
The amount earned in overtime hours is given as,
⇒ $18 x 7.3
⇒ $131.4
The total amount is given as,
⇒ $480 + $131.4
⇒ $611.4
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How has the My Way Retirement Index 2040 Fd CL R performed in the last 10 years?
The My Way Retirement Index 2040 Fund Class R is a mutual fund that invests in a diversified portfolio of stocks and bonds with the goal of achieving capital appreciation and income. As the name suggests, the fund is designed for investors who plan to retire in or around the year 2040.
The performance of the fund can vary depending on market conditions and other factors, so it's important to note that past performance is not necessarily indicative of future results. However, here are some general performance figures for the My Way Retirement Index 2040 Fund Class R:
1-year return (as of 12/31/2021): +13.28%
3-year average annual return: +9.46%
5-year average annual return: +10.22%
10-year average annual return: +9.85%
Again, these figures are for reference only and should not be taken as investment advice. It's always important to do your own research and consult with a financial advisor before making any investment decisions.
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Boundaries serve to protect the client's well-being caused by?
Boundaries serve to protect the client's well-being in a number of ways, sucha as, maintaining professional conduct, protecting client confidentiality, avoiding conflicts of interest, promoting healthy relationships, preventing exploitation or abuse.
Maintaining professional conduct: Boundaries help to define the parameters of the client-professional relationship and ensure that both parties behave in an ethical and professional manner.Protecting client confidentiality: Boundaries ensure that confidential information shared by the client is protected and not disclosed to unauthorized parties.Avoiding conflicts of interest: Boundaries help to avoid situations where the professional may have competing interests or loyalties that could compromise the client's well-being.Promoting healthy relationships: Boundaries help to establish a clear and healthy dynamic between the client and professional, promoting trust and respect.Preventing exploitation or abuse: Boundaries help to prevent exploitation or abuse of the client by the professional, ensuring the client's well-being and safety.Overall, boundaries serve as important safeguards for the client's well-being and help to ensure a positive and effective therapeutic relationship.
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what is verizon investor relations ?
Verizon Investor Relations is the department within Verizon Communications Inc. that is responsible for managing relationships with the company's shareholders and potential investors.
The department's primary goal is to provide investors with accurate and timely information about the company's financial performance, growth prospects, and strategic initiatives. This information is typically communicated through quarterly earnings reports, annual reports, investor presentations, and other public disclosures.
Verizon Investor Relations also provides a variety of services to shareholders, such as facilitating the purchase and sale of Verizon stock and answering questions about the company's operations and financials.
Additionally, the department engages with institutional investors and analysts to gather feedback and insights that can inform Verizon's strategy and decision-making. Overall, Verizon Investor Relations plays a crucial role in maintaining transparency and accountability with the company's stakeholders.
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a good in the presence of many close substitutes is predicted to have relatively demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good were to increase.
1. True
2. False
Given that consumers can simply choose to buy one of the close replacements if the price of the good increases, a good with several close substitutes is likely to have somewhat elastic demand.
In light of the fact that consumers can simply choose to purchase one of the identical replacements if the price of the good increases, what is demand?A good with multiple near substitutes is likely to have relatively ELASTIC demand because customers can easily choose to purchase one of them if the price of the good rises. By measuring their price elasticity of demand, consumers can determine how responsive they are to price fluctuations.
What will a good's demand elasticity be in the presence of close substitutes?The demand elasticity of a good or service with near substitutes is calculated by dividing the percent change in the quantity demanded of one good by the percentage change in the price of the good or service. This equation is also known as the demand cross-elasticity equation.
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Which characteristic is most important for the Urban Commuter segment?CapacityComfortDurabilityWaterproofEco-friendly
Capacity comfort characteristic is most important for the Urban Commuter segment. When choosing which market sector to target, there are numerous clientele to take into account. Urban Commuters buy a bag every four years, as you already know.
Now examine the BUYING ACTIONS for each market category. Marketers may use time, money, and other resources more effectively by segmenting their customers. Market segmentation enables businesses to understand their clientele. They are able to customise ads to the client groups most likely to make purchases because they have a better grasp of the needs and wants of their customers.
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Kenny lives in greenpoint, where the cost of living increases by 8% every year. If kenny spends $50,700 this year, how much can he expect to spend 11 years from now to maintain the same standard of living?.
To calculate the cost of living in 11 years, you can use the formula for compound interest: A = P * (1 + r/100)^n
where: A = final amount (the cost of living in 11 years). P = initial amount (the cost of living this year). r = annual interest rate (the increase in the cost of living each year, 8%) and n = number of years (11)
Plugging in the values: A = $50,700 * (1 + 8/100)^11,
A = $50,700 * 1.08^11
A = $50,700 * 2.072904
A = $105,541.27
So Kenny can expect to spend approximately $105,541.27 in 11 years to maintain the same standard of living.
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What is the balance after 2 years on a CD with an initial investment of $2,600.00 and a 3.2% interest rate?
A. $2,606.40 C. $2.769.06
B. $2,766.40 D. $8.320.00
Answer:
Given: fond the insert rate of 3.2% of $2,600.00.
First, find 3.2% of $2,600:
[tex]\frac{3.2}{100}[/tex] * $2,600
= 3.2 * 26
= $83.2
Then add ( interest ) the value with 2,600:
$2,600 + $83.2 = $2,683.2
Therefore the interest rate is $2,683.2.
pls help need answer fast
Use these graphics to answer the question.
An energy company wants to know the amount of energy consumed in US households. Site energy is energy used by the customer. Primary energy is raw fuel, or crude energy, such as natural gas or fuel oil.
What was the relationship between the primary energy consumptions of electricity and natural gas in 2010?
Other fuels were consumed more than natural gas.
Electricity was consumed at a higher rate than natural gas.
It took more crude energy to generate natural gas than electricity.
It took more crude energy to generate electricity than natural gas.
The majority of natural gas used in the United States is used for heating and electricity generation, but there are some other uses for natural gas.
What distinguishes total energy consumption from primary energy consumption?The energy transformations, such as power generation and refineries, account for the primary and final energy consumption, respectively, while industry (excluding the energy sector), transportation, and buildings account for the total energy consumption.
What was the essential energy source beginning in the mid 1900's?In the early 1900s, electricity was produced by utilizing hydro (water power), oil, coal, and natural gas. After that, nuclear energy was discovered and used to generate electricity. Oil was used a lot by Americans. Natural gas is used to generate electricity and useful thermal output in the electric power sector.
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Suppose an annuity pays 4% annual interest, compounded annually. If you invest $4,500 in this annuity annually for 10 years, what percentage of the total balance is interest earned? enter your answer as a percentage, rounded to two decimal places, without a percent sign.
The interest earned over the 10 years is $2,066.22 and 31.13% of the total balance is interest earned.
The total balance after 10 years of investing $4,500 in the annuity paying 4% annual interest, compounded annually, can be calculated using the formula:
A = P * (1 + r/n)^(nt)
where
A = total balance
P = initial investment ($4,500)
r = annual interest rate (4%)
n = number of times compounded in a year (1)
t = number of years (10)
Plugging in the values, we get:
A = $4,500 * (1 + 0.04)^(10)
A = $4,500 * 1.462479 = $6,566.22
The interest earned over the 10 years is $6,566.22 - $45,000 = $2,066.22.
To express the interest earned as a percentage of the total balance, we divide the interest by the total balance and multiply by 100:
Percentage of total balance = (Interest / Total balance) * 100
Percentage of total balance = ($2,066.22 / $6,566.22) * 100
Percentage of total balance = 31.13%
Therefore, 31.13% of the total balance is interest earned.
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How much did The Home Depot's sales revenue increase or decrease in the year ended February 2, 2020? a) Increased $121 (million) b) Decreased $2,022 (million) c) Increased $2,022 (million) d) Decreased $121 (million)
Answer: c) Increased $2,022 (million)
Explanation: When it ask you to look for sales revenue you should look in the balance near the end a title that says "NET SALES" and then below that Cost of Sales. In this case, Fiscal 2019 was $110,225 and Fiscal 2018 $108,203. Giving the number of $2,022 (meaning that has increased compared to last year).
The answer to the question would be found in The Home Depot's financial statements or annual reports for the year ending February 2, 2020. Without this data, it is impossible to definitively determine whether the company's sales revenue increased or decreased, and by what amount.
Explanation:To accurately answer your question, we need to refer to the financial statements or annual reports of The Home Depot. It is in these documents that a company's financial performance including their sales revenue is reported. Unfortunately, I cannot provide the specific dollar amount by which The Home Depot's sales revenue increased or decreased in the year ended February 2, 2020 because that specific information is not provided in your question. Therefore, either option a), b), c), or d) could be potentially correct depending upon the specific financial data for that year.
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the main section of a typical marketing plan presents ________.
Most typically, a thorough study of the existing marketing environment is presented in the major body of the marketing plan.
What does the main section of the marketing plan consist of?The four main elements in a firm strategy's marketing area are product, pricing, promotion, and site.
A marketing strategy outlines your planned marketing and promotional activities for a specific time period, frequently the next 12 months. It defines your approach to locating, attracting, and persuading individuals to buy your products or services, along with your precise goals, next steps, and deadlines.
How many sections are there in a basic marketing plan?Your marketing plan will act as a road map to help you attract an endless stream of customers and greatly increase the success of your business if it is carried out successfully. The material below covers the 15 crucial sections your marketing plan must have. Use this tried-and-true marketing plan template to create them.
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What are perfect competition examples?
Perfect competition is a theoretical market structure where a large number of small firms produce identical or homogenous products, have perfect information about the market, and are price takers, meaning they have no market power to influence prices. In a perfectly competitive market, there are no barriers to entry or exit, and firms earn only normal profits in the long run.
Some examples of markets that approach perfect competition are:
Agricultural markets: Many agricultural products, such as corn, wheat, and soybeans, are often sold in highly competitive markets with many small producers, standardized products, and few barriers to entry.
Foreign exchange markets: The foreign exchange market is a highly liquid market where currencies are traded among many buyers and sellers, and no single participant can influence the exchange rate.
Stock markets: While the stock market does not meet all the conditions of perfect competition, it is highly competitive with many buyers and sellers, and information is widely available.
Online markets: Online marketplaces like eBay, Amazon, and Alibaba provide a platform for many small sellers to sell similar products at competitive prices, with low barriers to entry and exit.
Street vendors: In some developing countries, street vendors may sell similar products at competitive prices in highly competitive markets.
It is important to note that perfectly competitive markets are rare in real-world situations, and markets often fall somewhere on the spectrum between perfect competition and monopoly, with varying degrees of market power and imperfections.
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All of the following are reasons put forward for anti-globalization argument, except the costs of disruptive economic change including job losses and stagnant wages in developed economies. the blooming of old industries and labor-based global economy. the loss of local control over economic policies and developments in emerging economies. the loss of blue-collar and increasingly some white-collar jobs in advanced industrial economies.
The blooming of old industries and a labor-based global economy is not a reason put forward for the anti-globalization argument. Here option B is the correct answer.
One of the key arguments against globalization is that it leads to the loss of blue-collar and increasingly some white-collar jobs in advanced industrial economies.
This is due to the outsourcing of jobs to countries with lower labor costs and the increased competition from imports, which can result in job losses and stagnant wages in developed economies. Another argument is that globalization results in the loss of local control over economic policies and developments in emerging economies.
Globalization can lead to the dominance of multinational corporations and international institutions, which can impose policies and regulations that may not be in the best interests of local communities and may have negative impacts on the environment and public health.
Complete question:
All of the following are reasons put forward for the anti-globalization argument, except
A - the costs of disruptive economic change including job losses and stagnant wages in developed economies.
B - the blooming of old industries and a labor-based global economy.
C - the loss of local control over economic policies and developments in emerging economies.
D - the loss of blue-collar and increasingly some white-collar jobs in advanced industrial economies.
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how long after my taxes are accepted will i receive my refund ?
If IRS accepts and approves your tax return, it normally issues refunds within 21 days, according to the IRS.
What is tax return?A tax return is a form or set of forms that individuals and businesses file with the government to report their income, expenses, and other financial information for the purpose of determining how much tax they owe or how much of a refund they are entitled to. Tax returns are typically filed annually, although some entities may file quarterly or semi-annually. The process of preparing and filing a tax return can be complex and time-consuming, requiring taxpayers to gather and organize a variety of financial documents and carefully review tax laws and regulations. Tax returns may be filed electronically or by mail, and penalties may be imposed for late or inaccurate filings.
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14) Business ethics is concerned with all of the following exceptA) distinguishing between ethical decisions that arise in a business setting.B) distinguishing between moral decisions in a business setting.C) moral and ethical principles that might arise in a business setting.D) societal issues such as the sale of products or services that may damage the environmentE) any special duties or obligations that apply to persons engaged in commerce.
Business ethics is concerned with all of the following except distinguishing between ethical decisions that arise in a business setting. Thus, option A is the correct answer.
Business ethics is mainly based on the moral decisions between the members of the company and also they are always based on the principles written based on issues faced previously.
In Business ethics, companies try to work for the welfare of their customers as well but they do not focus on profits and sales. The community gets the benefit to a larger extent when firms start working for it by acting upon marketing ethics. Some people argue that marketing ethics is just a way to increase the number of sales but in all cases, the larger community also gets benefits from it.
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A ________ is a type of multinational corporation (MNC) that decentralizes management, hires local employees to manage its foreign operations, and tailors marketing strategies to a country's unique characteristics.
A transnational corporation (TNC) is a type of multinational corporation that decentralizes management, hires local employees to manage its foreign operations, and tailors marketing strategies to a country's unique characteristics.
A Transnational Corporation (TNC) is a multinational company that operates globally, with decentralized management and local employees to run foreign operations. TNCs tailor their marketing strategies to each country's unique characteristics. They aim to achieve greater efficiency and flexibility in their operations. TNCs play a significant role in the global economy and have significant influence on local economies and international relations.
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Question:
If a shortage exists in a market, then we know that the actual price is:
a. below the equilibrium price and quantity supplied is greater than quantity demanded.
b. below the equilibrium price and quantity demanded is greater than quantity supplied.
c. above the equilibrium price and quantity demanded is greater than quantity supplied.
d. above the equilibrium price, and quantity supplied is greater than quantity demanded.
Equilibrium Level
The level of stability in the economy is known as the equilibrium level. All the individuals in the economy are at the maximum welfare point at the equilibrium level.
If the price is below the equilibrium level, the quantity demanded will be more than the quantity supplied.
When all economic forces are working together, an economic equilibrium is said to exist. Without external inputs, economic variables largely stay at their equilibrium values. Economic equilibrium is a different idea from market equilibrium. Market equilibrium is the price at which supply and demand are equal in basic microeconomics. As a result, it is located halfway between the expected supply and demand curves. If the price is below the equilibrium level, the quantity needed will thus be more than the quantity offered. This is known as an insufficient supply or an excessive demand. This is referred to as the price cap.
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Suppose you know that the price elasticity of demand for your product is 0.5, and you are thinking about raising your price by 8%. How much can you expect quantity to decrease?
A.8%
B.5%
C.4%
D.We can't tell how much quantity will decrease
If your product's price elasticity of demand is 0.5, a 1% rise in price results in a (B) 0.5% drop in the amount sought. Therefore, it would be reasonable to anticipate that an 8% price rise would lead to a decline in
Elasticity is a measurement of a variable's receptivity to changes in other variables. Elasticity is a term used frequently in economics to describe how sensitive a product's supply or demand is to changes in its price, income, or other variables. Price elasticity of demand gauges how responsively consumers' purchases of a good or service are to price changes. An inelastic demand is one in which the change in quantity demanded in response to a change in price is relatively modest. An elastic demand is one in which a minor change in price will result in a substantial change in the amount demanded. Businesses, governments, and people all benefit from an understanding of
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How to advice on choosing the best financing option for a business?
Choosing the best financing option for a business can be a complex process, as there are many factors to consider. Here are some general guidelines to help you make an informed decision.
Assess your business needs: Consider your current financial situation, future goals, and the amount of capital you require. This will help you determine the type of financing that best suits your needs.
Compare financing options: Research and compare different financing options, including loans, lines of credit, and equity financing. Look at the interest rates, repayment terms, and other fees associated with each option.
Consider the impact on ownership: Think about the impact that each financing option will have on your ownership stake in the business. For example, taking out a loan will not dilute your ownership, while equity financing will.
Evaluate the repayment terms: Make sure you understand the repayment terms and are comfortable with the monthly payments. Consider the length of the loan and whether you will be able to make the payments over the long term.
Seek professional advice: Consult with a financial advisor, accountant, or business lawyer to help you make an informed decision. They can help you weigh the pros and cons of each financing option and provide you with additional insights and advice.
Remember, the best financing option for your business will depend on a number of factors, including your current financial situation, future goals, and the amount of capital you require. It's important to do your research and seek professional advice to ensure you make the right decision for your business.
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A _____ centralizes its management and other decisions in the home country.
A) global company
B) glocal company
C) multidomestic corporation
D) transnational organization
E) borderless organization
The correct answer is C) multidomestic corporation. A multidomestic corporation is a type of international business that centralizes its management and other decisions in the home country.
While allowing each country where it operates to adapt its products and operations to local needs and preferences. This approach is often used by companies that face significant cultural, regulatory, and other differences across markets, and that therefore require a high degree of local customization.
Global companies, glocal companies, transnational organizations, and borderless organizations all have different approaches to managing their international operations, and typically have more decentralized decision-making structures than multidomestic corporations.
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to identify some form of common global ethics, partners in the organization of american states signed the inter-american convention against corruption. the united nations adopted a formal condemnation of __________ in making business deals as did the european union and the organization for economic cooperation and development.
The Inter-American Convention Against Corruption (IACAC) was adopted by using the member nations of the Organization of American States on 29 March 1996; it came into pressure on 6 March 1997. It was the first global convention to address the query of corruption.
What are the kinds of corruption as recognized by using the United Nations Convention against Corruption UNCAC?The Convention would oblige States Parties to establish as criminal offences bribery of country wide public officials; active bribery of foreign public officials; embezzlement, misappropriation or different diversion of property by means of a public official; money laundering; and obstruction of justice.
The Follow-Up Mechanism for the Implementation of the Inter-American Convention in opposition to Corruption (MESICIC) is the Anticorruption Mechanism of the OAS. It brings collectively 33 of the 34 Member States to evaluate their prison frameworks and institutions in the mild of the Inter-American Convention against Corruption.
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https://brainly.com/question/19227575#SPJ4What is business process reengineering?
The business process re-engineering is the management strategy that focus on the analyze and format or design of the workflows and business processes within the organization.
The business process is the process which refers to the collection of the linked tasks which finds their end in the distribution of the products or services to the client.
The purpose of the business process is to help and consultant the company to reach on their target goals. The process of business process is the business process management, business process modeling, marketing, sales and so on of the business process.
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woof chow dog food company believes that it has a market share of 25 percent. it surveys n100 dog owners and ask whether or not woof chow is their regular brand of dog​ food, and 23 people say yes. based upon this​ information, what is the critical value if the hypothesis is to be tested at the 0.05 level of​ significance?
If indeed the hypothesis will be evaluated at the significance level of 0.05 then 1.96 is the crucial number. Hence, choice C is the right response.
What does the term "company" mean?Generally speaking, a business is a juristic person constituted by law with limited liability, eternal succession, and its own legal body. It is a group of people coming together freely to contribute to the capital needed for the firm to operate.
We must do a hausman test using the null that now the real number all dog owners who have used Woof Chow was 0.25 and the alternate theory that now the true ratio is not 0.25 in order to assess the claim that Woof Chow seems to have a 25% market share.
We may use the normality test to do this test since the sample group is big (n = 100). The following equation gives the crucial value for a tests there at 0.05 level of significance:
Z critical equals 1.96
The 2.5th to 97.5th centile of the conventional normal distribution are represented by this figure. The crucial number is 1.96 because the 95% confidence level corresponds tp two standard deviations of the mean, and we want to be 95% certain that the real percent of dog owners using Woof Chow is within a given range.
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what is a large building which big machines are used to manufacture or assemble goods ?
A factory is a large building where large machines are used to manufacture or assemble goods.
The machines used in a factory can range from robotic arms, conveyor belts, lathes, and 3D printers. The factory typically has a production line where the goods are moved from one machine to the next, with a finished product at the end. The factory is often divided into different areas such as the assembly line, the quality control section, and the shipping department. The machines used in the factory are typically powered by electricity, gas, or steam. The workers in a factory may use safety equipment such as goggles and hard hats to protect them from any potential accidents. The factory is also usually staffed by supervisors who oversee the production process and ensure that the machines are running smoothly. Automation plays a big part in modern factories, with robots and other machines taking over many of the more mundane tasks that used to be done by human workers.
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assuming that the long-run demand for blueberries is the same as the short-run demand, you would expect a binding price ceiling to result in a that is in the long run than in the short run. (true or false)
True. Given that the market for blueberries remains unchanged across both the medium and long timeframes, implementing binding price ceiling would result in a price that is greater compared to short term.
What exactly does a binding price ceiling mean?A binding contract price is produced when a price floor is set substantially below the equilibrium price in the market. A legally binding price ceiling will create one since there is scarcity there at price ceiling.
What possible consequences might a legally mandated price cap have?The ceiling price alters the equilibrium quantity because more is desired while less is offered. This causes a shortage of something like the proportion Qd - Qs. As a result, the price cap causes a loss in welfare.
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Under The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received.True or False
Revenue must be recognised in the period in which cash is received, according to the revenue recognition principle. It's false.
A generally accepted accounting standard (GAAP) called revenue recognition specifies the particular circumstances under which revenue is recognised and how to account for it. When a crucial event has taken place, a client has received a product or service, and the monetary amount is readily measurable for the business, revenue is typically recognised. The foundation of any corporate performance is revenue. The sale is the keystone. Regulators are aware of how alluring it may be for businesses to stretch the boundaries of what constitutes income, particularly when not all cash is collected until the task is finished. Attorneys, for instance, bill their clients according to billable hours and then present the invoice. Construction supervisors frequently charge consumers on.
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England established american colonies based on the economic concept of mercantilism. the goal of mercantilism was to: _________
The goal of mercantilism was to create a favorable balance trade where the exports were more than the imports.
mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Mercantilism was based on the idea that a nation's wealth and power were best served by increasing exports and reducing imports. Under mercantilism, colonies were important because they produce raw materials for the mother country. Mercantilism exists to increase a country's wealth through exports.
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Answer question below with 150 words:
How do the income statement and the balance sheet help management make good decisions?
Answer:
The income statement and the balance sheet are two essential financial statements that help management make informed and wise decisions. The income statement shows the performance of a company over a certain period of time by providing information on revenue, expenses, and profits. This provides management with an understanding of how their business is performing, as well as any areas that need improvement. It also helps them to measure their successes and failures, gain insights into future opportunities, and decide on how to allocate their resources.
The balance sheet, on the other hand, provides a snapshot of the company's financial position at a given moment. It shows the total assets, liabilities, and equity owned by the company, allowing management to spot any upcoming cash flow problems and devise strategies to address them. It also helps management to better understand where their assets are invested, as well as their current financial assets and liabilities.
Overall, both the income statement and the balance sheet are important tools for management when making decisions. They offer an in-depth look at the financial position of a business and enable management to effectively manage their resources and plan for the future.