Answer: 1. Planning should not be rigid.
2. Planning does not guarantee success
Explanation:
The limitations of planning which led to decline in it sales are that planning should not be rigid and that planning doesn't always guarantee success.
Planning brings about rigidity. A plan that well defined is usually Dewan along with the goals that needs to be achieved and this is used in deciding the future curse of action that'll be taken. This can bring about rigidity in the organization. In this case, the managers of Super Fine Rice Ltd. continued to rely on it's previously tried and tested successful plans which didn't work because the environment is not static.
Also, planning does not guarantee success. Success can only be achieved in a situation whereby the plans are implemented properly. A plan that isn't implemented and translated into action will become meaningless.
Producers in the market economy are competing for customers, so they often have _________________________ than other types of economies.
more governmental regulation
less property ownership
less variety of product
lower prices
Answer:
lower prices
Explanation:
A market economy is an economy where production decisions are made by the forces of demand and supply. there is no intervention of the government in production decisions
Characteristics of a pure market economy
• Private ownership of means of production
• freedom of choice. Producers are free to produce what they desire
• competition among producers
• no government intervention.
Due to the fact that producers compete with each other in this type of economy, prices would be lower to attract customers
if a company has 5 employees with annual salaries of $90,000, $60,000 ,$70,000 ,$90,000 and $20,000 respectively, what is the mean annual salary at the company?
Answer:
Mean annual salary = $66,000
Explanation:
Given the following data;
Number of employees = 5Employee's salaries = $90,000, $60,000 ,$70,000 ,$90,000 and $20,000.To find the mean annual salary at the company;
First of all, we would find the total amount of salaries.
Total amount = 90,000 + 60,000 + 70,000 + 90,000 + 20,000
Total amount = $330,000
Next, we would calculate the mean annual salary at the company;
[tex] Mean \; annual\; salary = \frac {Total \; salary}{Number \; of \; employees} [/tex]
Substituting into the above formula, we have;
[tex] Mean \; annual\; salary = \frac {330,000}{5} [/tex]
Mean annual salary = $66,000
Answer:
66,000
Explanation:
Rockwood International needs to make risky decisions on a daily basis. Therefore, its managers are likely to
Answer:
Centralize decision making
Explanation:
From the question we are informed about Rockwood International who needs to make risky decisions on a daily basis. Therefore, its managers are likely to Centralize decision making.
Centralization can be regarded as setup whereby decision-making powers are been concentrated or given to few leaders that are on top of the organizational structure. Decisions making are been carried out at the top then communicated to lower-level managers so that implementation can take place.
The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier.
Answer:
attainable
Explanation:
.............
Read each item carefully. Write the letter of your answer on the blank before each number.
__1. The process of serving food and beverages.
a. Catering b. Cooking C. Fast and Basic Services d. Food and Beverage Services
2.As an Entrepreneur, in planning to put up a business, a great option or consideration is food business,
why?
a. Food business is very easy to establish.
b. Food business needs short time planning.
c. Food business requires a great amount of capital.
d. Food business gains more profit than any other business.
_3. Refers to a person who starts and owns a business
a.. Entrepreneurship b. Entrepreneur c. Enterprise
d. Entrée
___4. Behaviour of Entrepreneur where he has strong belief in his own abilities
a. Opportunity seeker b. Persistent C. Self-confidence d. Boastful
5. These are behaviours of successful Entrepreneurs.
a. Personal Entrepreneurial Competencies c. Personal Environmental Committee
b. Personnel Enterpreneurial Contingency d. Personal Education Competencies
6. Takes moderate risk and assessing pros and cons.
a. Risk Taking b. Goal settingc. Commitment to the work contract d. SMART
_7. Expresses a concern for satisfying the customers.
a. Persuasion and networking
c. Demand for efficiency and quality
b. Commitment to the work contract
d. Self-confidence
_8. It is the willingness to start a new business?
a. Enterpreneurship b. Entreepreneurship c. Entrepreneurship
d. Enterpreneurship
9. It refers to the money needed for the business?
a. Talent
b. Hobby
c. Interest
d. Capital
10. in a business, the most important resources are?
a. Supplies
b. Technology c. Human
d. Equipment
11. The ability to persuade and convince people to buy his or her products
a. Persistence
c. Persuasion and Networking
b. Risk taking
d. Opportunity seeking
12. Which of the following is not an example of Information seeking
a. Self-confidence
c. Reading books, newspaper, magazine
b. Interviewing experts
d. Seeks new ideas from clients, suppliers
__13. Strives to do things better, faster and cheaper and value excellence.
a. Commitment to the task
c. Demand for efficiency and quality
b. Persuasion and Networking
d. Goal setting
_14. He is responsible for the success of the food and beverages operation and also responsible for
compiling menus.
a. Food and Beverage Manager
c. Restaurant Manager
b. Head waiter/supervisor
d. Station waiter
15. Person who is responsible for all service staff in the restaurant and for all seeing that all preparation,
service and clearing work is efficiently caried out.
a. Food and Beverage Manager
c. Restaurant Manager
b. Head waiter/supervisor
d. Station waiter
_16.An expensive restaurant, where good food is served to people often in a formal way.
a. Coffee shop
c. Function hall
b. Ethnic restaurant
d. Fine dining restaurant
17. Which is not a qualification of a Food and Beverage employee?
a. Reliability b. Sense of humor C. deceptiveness d. Reliability
18. Refers to the science of good health and signifies cleanliness and free from the risk of infectious
diseases.
a. Hygiene
b. exercise
c. health
d. food
19. Which of the following is NOT included in handling a customer complaints
Answer:
Explanation:
a]Catering
I choose [c] for the question[ 2]
3. [b] Entrepreneur
4. [c] Self Confidence
5. I think it is option [d]
6. [b] goal setting
7.I think it is option [d] Self Confidence
8. [c]Entrepreneurship
9. I think it is [c] or [d]
10. [C] Human
11. I don't know
12. [a]
13. [a] or [d]
14.[a]
15. [c]
16.[d]
17. [c]
18. [a]
Hopes it will helps u
Waterway Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $602000 and credit sales are $2680000. Management estimates that 3% of accounts receivable will be uncollectible. What adjusting entry will Waterway Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $5000 credit balance before adjustment
Answer:
Estimated uncollectible account at end = $602,000 * 0.03
Estimated uncollectible account at end = $18,060
Bad debt expense to be recorded = Estimated uncollectible - Balance in allowance account
Bad debt expense to be recorded = $18,060 - $5,000
Bad debt expense to be recorded = $13,060
Date Journal Entry Debit Credit
Bad Debt Expense $13,060
Allowance for Doubtful Accounts $13,060
When you lease your apartment from a nonprofit corporation that owns the building and you own a share of the nonprofit corporation, you own a: Group of answer choices single-family home. cooperative apartment. condominium. row house. mobile home.
Answer:
Cooperative apartment
Explanation:
Cooperative
This is simply refered to as a housing ( dwelling) unit that is said to be owned by a corporation whereby owners of these dwelling units owns stock that is equal commensurate) with the value of his or her apartment when compared to the value of the building as a whole. The stockholder therefore has a proprietary lease to the apartment.
Key documents in a cooperative sale/purchase:they includes;
1) Contract of sale: Buyer, seller, purchase price, financial requirements and also subject to approval
2) Offering plan: this contains all the key information that is required to be disclosed about the cooperative or the condo.
3) Amendments to the offering plan etc.
Derrick has accepted a job in another state. His wife, who is not employed, is not happy about moving but doesn't have a choice. This is an example of:
Answer: A Fate control
Explanation:
Fate control is used to describe a situation where one person controls how the life of another person will go or rather their fate. This is very prevalent in relationships where a person is the sole breadwinner or in relationships where a person is the legal guardian of another.
The breadwinner or the guardian has fate control over those depending on them. In this case, Derrick has fate control over his wife as his activities such as taking a job in another state, dictate what his wife is to do which is to follow him to that state.
homeworklib The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Product Number of Units Labor Hours Per Unit Machine Hours Per Unit Blinks 964 3 5 Dinks 1,943 5 8 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $103,800. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $79,600. The Ramapo Company uses a single overhead rate to apply all overhead costs based on labor hours. What is the overhead cost per unit for Blinks
Answer:
Overhead per unit of Blinks= $43.65
Explanation:
Giving the following information:
Product Number of Units Labor Hours Per Unit
Blinks 964 3
Dinks 1,943 5
First, we need to calculate the total estimated overhead and the total number of labor hours:
Total estimated overhead= 103,800 + 79,600= $183,400
Total number of labor hours= (964*3) + (1,943*5)= 12,607
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
Predetermined manufacturing overhead rate= 183,400 / 12,607
Predetermined manufacturing overhead rate= $14.55 per direct labor hour
Finally, we can allocate overhead to Blinks:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Blinks= 14.55*3= $43.65
All of the following are Forecasting methods with the exception of: Group of answer choices a. Econometric methods b. Time series methods c. Judgmental methods d. Analogous methods
Answer:
Option "D" is the correct answer to the following question.
Explanation:
Analogous Estimation leverages information from previous projects to predict the length or expense of your present project, hence the name. When you have limited knowledge on your present project, you can utilise comparable estimate. Analogous estimate is a simple approach to use.
So, it is not a forecasting method.
Martinez owns an asset that cost $87,000 with accumulated depreciation of $40,000. The company sells the equipment for cash of $42,000. At the time of sale, the company should record:
Answer:
A loss on sale of $5,000
Explanation:
Calculation to determine what the company should record at the time of sales
First step is to calculate the Book value as on date of sale using this formula
Book value as on date of sale=Cost-Accumulated depreciation
Let plug in the formula
Book value as on date of sale=87,000-40,000
Book value as on date of sale=$47,000
Based on the above calculation the sale proceeds is lower than the book value as on date of sale which indicate a loss
Hence:
Loss =($47,000-$42,000)
Loss=$5000
Therefore At the time of sale, the company should record: A loss on sale of $5,000.
Professor Hanoi's research efforts focus on how the use of heuristics influences the way people think about and assess financial risks. Which specialty area does his research best represent
Answer:
Cognitive psychology
Explanation:
Cognitive psychology has to do with the scientific study of how the mind processes data, information, creativity and also reasoning. Examples of this processes can be seen in thinking, reasoning, making judgements, being able to recognize numbers, memory etc. From this explanation above, we can see that this professors area o specialization is cognitive psychology.
Bill is the treasurer for a fast-growing organization whose budget has recently been growing at a rate of 10% per year. The budget last year was $352,000. What should he expect it to be 2 years from now
Answer:
$426,000
Explanation:
Calculation to determine What should he expect it to be 2 years from now
First step is to calculate for One year budget
In One year budget =$352,000+(10%*$352,000)
In One year budget =$352,000+$35,200
In One year budget=$387,200
Now let determine What should he expect it to be 2 years from now
In Two year budget=$387,200+(10%*$387,200)
In Two year budget=$387,200+$38,720
In Two year budget=$425,920
In Two year budget=$426,000 (Approximately)
Therefore What should he expect it to be 2 years from now is $426,000
In a fractional-reserve banking system with no excess reserves and no currency holdings, if the central bank buys $100 million worth of bonds, a. both reserves and the money supply increase by more than $100 million. b. reserves increase by $100 million and the money supply increases by $100 million. c. reserves increase by $100 million and the money supply increases by more than $100 million. d. reserves and the money supply increase by less than $100 million.
Answer:
c. reserves increase by $100 million and the money supply increases by more than $100 million
Explanation:
Based on the information given in a situation where a FRACTIONAL-RESERVE BANKING SYSTEM has no availability of EXCESS RESERVES and no CURRENCY HOLDINGS, which means that if the central bank buys BONDS that worth $100 million, the RESERVES will tend to INCREASE by the amount of $100 million while the MONEY SUPPLY on the other hand will INCREASES by more than $100 million.
When determining the human resources needs for a well-known engineering firm, the HR director realized that the company lacked engineers under the age of 30. The company could not afford to get caught short in this competitive business climate. An important recruitment strategy for the HR director's department was to start attending college fairs as well as considering hiring interns. We define his recruitment efforts as developing relationships with ________ sources. Multiple Choice external internal median civilian
Answer:
External
Explanation:
Human resources management
This is simply set up and control of formal systems for employee management within an organization.
Recruiting
This is refered to as the ways or process of getting a list of qualified candidates. The aim is to make the organization attractive to qualified applicants.
External Factors Affecting Recruitment
1. Supply and demand- labor market, unemployment rate
2. Social and legal environment
3.Competitors practices
Types of external source of labor
1. Direct recruitment where Informations are displayed on notice board. They are usually low cost.
2. Casual callers: this is simply known as a list of job seekers that is prepared and as the need arises they are called for an interview.
3. Advertisement through Newspaper, advertising etc.
Using an end-of-period spreadsheet, the flow of accounting information moves from the a.financial statements to the adjusted trial balance. b.adjusting entries straight to the financial statements. c.adjusted trial balance to the financial statements. d.unadjusted trial balance to the financial statements.
Answer:
C. adjusted trial balance to the financial statements.
Explanation:
The end-of-period spreadsheet can be regarded as accounting tools used in summarizing the movement of transactions that has been carried out throughout an accounting period. It is a tools that give representation of the end of the current accounting period.
permanent accounts that been found
the balance sheet, which are not not closed are been consisted by The post-closing trial balance.
It should be noted that Using an end-of-period spreadsheet, the flow of accounting information moves from the
adjusted trial balance to the financial statements.
Three different objectives relate to a firm's profit. One objective, known as _________, is common in many firms because the targets can be set and performance measured quickly. Multiple Choice break-even strategy managing for long-run profits maximizing current profit minimizing risk target return
Answer:
The answer is "managing for long-run profits".
Explanation:
There are 3 distinct targets concern profitability for a business Measured typically in ROI or ROA terms that are
Long-term profitability management
Optimizing existing gains
Reviewer Target
Whenever competence and understanding benefit via the development of high-quality items and penetrate difficult marketplaces throughout the long term.
In contrast with its cost of development, the cost of commodities is relatively low. But the government expects to earn more money eventually due to the significant market stake in a company.
What correlation do most economists expect with a rising or high gross domestic product, high labor productivity, and low inflation
Answer:
a healthy economy
Explanation:
In the case when there is an increase or there is high gross domestic product , the labor productivity is also higher and at the same time the inflation is less so this means the more and more people are employed and they can spend less money to buy more products so this represent that the economy is healthy
A certain product has supply elasticity 0.4 and demand elasticity 2.7. If a tax were placed on the product, what is most likely to happen
Answer:
Sellers will bear more of the tax burden.
Explanation:
In the above problem, the proposed new branch will _______ overall risk exposure and produce a(an) ______ effect. Fill in the appropriate answers. Group of answer choices increases; economies of scale increases; economies of scope reduces; convergence reduces; geographic diversification
Answer:
reduces; geographic diversification
Explanation:
In the above problem, the proposed new branch will economics reduces overall risk exposure and produce a geographic diversification effect.
A firm that earns less than 70 percent of revenue from its dominant business and has direct connections between its businesses is engaging in ____ diversification. Group of answer choices
Answer:
related constrained
Explanation:
Related constrained diversification occurs when a company shares its resources and activities between the businesses it owns.
This type of organisation is characterised by less than 70 percent of it revenue coming from its dominant business.
Also all businesses share the same technology, distribution channels, and products.
Basically a business expands its operations into product lines that it already offers. So the new business it operates through produces same product.
As part of the agency relationship, you have to keep everything that the buyer discloses to you private. This includes any information that may impact the buyer's capability or motivation to pay more than the asking price. This is an example of:
Answer:
Confidentiality
Explanation:
An agent is a person that protects the interest of his client in a given business transaction.
He is obligated to represent his client's best interest even when he is absent.
One of the benefits that a client enjoys in an agency relationship is confidentiality.
This is the ability of an agent to keep information about his client and his transactions private.
This includes any information that may impact the buyer's capability or motivation to pay more than the asking price.
Project scope statements must include the project boundaries, constraints, and assumptions. Group of answer choices True False
Answer:
True
Explanation:
A project scope statement can be regarded as a statement that give out well detailed description as regards the the work which is needed to be done so that the output of a project can be delivered on agreed time period as well as within the allotted budget.
scope statement usually gives the outlines of the entire project as well as
any deliverables, it do entails list of stakeholders within the scope. The writting is usually done by project manager. It should be noted that Project scope statements must include the project boundaries, constraints, and assumptions.
For _______ employment, the public policy exception prohibits employers from firing employees engaged in activities that further public interest.
Answer:
public policy exceptions
Explanation:
In public policy exceptions, employers are prohibited from terminating employees who participate in activities that benefit the public good. Serving on a jury, completing military service, filing for or testifying at hearings for workers' compensation claims, and whistle-blowing are all examples of protected actions that differ by state.
What is the appropriate leadership style for an employee that is low in skills but is anxious to learn
Answer:
Selling
Explanation:
Which ethical violation involves profiting by using the name or slogan of another company?
Copyright violation
Libel
Plagiarism
Slander
Answer:
Copyright infringement (at times referred to as piracy) is the use of works protected by copyright law without permission for a usage where such permission is required, thereby infringing certain exclusive rights granted to the copyright holder, such as the right to reproduce, distribute, display or perform the protected work, or to make derivative works. The copyright holder is typically the work's creator, or a publisher or other business to whom copyright has been assigned. Copyright holders routinely invoke legal and technological measures to prevent and penalize copyright infringement.
On June 1, Edward visited a bicycle sales and service center. Edward spotted a used bike he liked and was told by the dealer that he could have the bike for $100 cash. Since Edward needed a few days to get the money, Edward got a signed, written statement by the dealer that Edward could buy the bike for $100 at anytime on or before June 15. On June 10 Edward came to the dealer with the money, but the bike had been sold to another customer. Was the dealer under any obligation to Edward to keep this offer open until June 15? Give legal reasoning for your answer.
Answer:
"Yes" will be the correct response.
Explanation:
The dealership has been obliged to Edward since Edward as well as Dealer had written agreements stating that somehow Edwards may acquire their motorbike on the day before the fifteenth of June.The two parties offered and otherwise accepted as well as agreed in writing. That's because the contract remained valid, Dealer may be prosecuted as well for contravention.Sylvia wants to purchase a 2017 Dodge Challenger for a negotiated price of $38,770 inclusive of all costs (options, taxes, delivery charges, etc.). Sylvia will be making a down payment of $8,000. She has a choice between taking a $2500 cash rebate (and arranging her own financing at 4.98% for 36 months) OR selecting the dealer incentive financing of 0.9% APR for 36 months. What is the total cost of this car if Sylvia chooses the cash rebate option
Answer:
$38,492.84
Explanation:
Calculation to determine what is the total cost of this car if Sylvia chooses the cash rebate option
CASH REBATE:
First step is to determine the PMT using Financial calculator
N= 36
I/Y= 4.98/12= .415%
PV= 30770 - 2500 = 28270
PMT= ??
FV= 0
Hence,
PMT= 847.0234
Now let determine the total cost
Total cost=($847.0234*36)+$8,000
Total cost=$30,492.84+$8,000
Total cost =$38,492.84
Therefore the total cost of this car if Sylvia chooses the cash rebate option is $38,492.84
At which criteria level is the most important to observe a significant change in order to conclude that a training program is effective
Answer:
Level 3 evaluation
Explanation:
In simple words, Level 3 assesses the extent to which individuals' attitudes improve as a consequence of the education - in other words, if the program's information and abilities are used on the job. The learner's conduct is measured both before and after the activity at Stage 3.
Thus, from the above we can conclude that the correct answer is level 3 evaluation.
Universal Containers sells through many different reseller networks. Each reseller's deals are tracked on separate opportunities. The sales manager is concerned that the pipeline report is not accurate due to multiple opportunities for the same end customer. How should the sales process be modified to ensure opportunities are not double-counted in the pipeline
Answer: change the forecast category to omitted on the duplicate opportunities
Explanation:
The sales process should be modified to ensure opportunities are not double-counted in the pipeline by changing the forecast category to omitted on the duplicate opportunities.
When this is done, the multiple opportunities for the same end customer will be curtailed and hence, there'll be accuracy with regards to the pipeline report.