The answer is true, titleist golf produces many major brands that all have their own brand name (ex., titleist, footjoy, staysoft, long drive, etc.). this is a house of brands approach to brand naming is true.
What is the definition of a brand simple?A brand is a good, service, or idea that is publicly set apart from similar ones. This makes it simple to convey and generally promote. The process of developing and promoting a brand's name, attributes, and personality is known as branding.
What exactly does brand in business mean?Branding is the process of giving your company a unique identity in the eyes of your target market and customers. The logo, graphic design, mission, and tone of voice of a corporation make up its branding at its most fundamental level.
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determining the need for labor, machines, physical resources to meet the production objectives of the firm is called:
Determining the need for labor, mac-hines, physical resources to meet the production object-ives of the firm is called: capacity planning.
What Is Capacity Planning?A capacity planning pro-cess involves determining how much production capacity is re-quired to meet changing dem-and for products. Design capacity refers to an organ-ization's maximum capacity to accomplish work over a given time period in capa-city planning.
Capacity plan-ning process is used by organ-izations to determine their pro-duction capacity in order to me-et the changing needs of their products. A design capacity is an organ-ization's maximum ability to complete a specified am-ount of work in a given time period, in the con-text of capacity planning.
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Which of the scenarios are examples of an economic signal?Purchases of floppy disks and CDs decline dramatically as the demand for online streaming of similar goods increases.Companies begin hiring more people after a long period of high unemployment in the United States. Prices in housing markets fall.The market price for toilet paper has not changed over the last 10 years.
All of the scenarios can be considered examples of an economic signal. Economic signals can be observed in changes in consumer preferences, shifts in labor market conditions, changes in supply and demand for goods and services, and stability in market prices.
Purchases of floppy disks and CDs declining dramatically as the demand for online streaming of similar goods increases is an example of a shift in consumer preferences and demand, which is a key signal in economics.
Companies beginning to hire more people after a long period of high unemployment in the United States is an example of an improvement in the labor market, which is also a significant signal in economics.
Prices in housing markets falling is an example of a change in the supply and demand for housing, which can indicate changes in the overall economy.
The market price for toilet paper not changing over the last 10 years can be seen as a signal of stability in the market for that particular good, which can provide insight into the broader economic conditions.
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scarcity exists because question content area bottom part 1 a. the costs of production are high. b. some people make bad economic decisions. c. people take too much leisure time. d. human wants exceed the resources available to satisfy them. e. some individuals have low income.
The correct answer is d. Human wants exceed the resources available to satisfy them.
Scarcity exists because human wants and needs are unlimited, but the resources available to satisfy those wants and needs, such as money and materials, are limited.
This means that people must make decisions about how to use limited resources to meet their needs. This is known as the economic problem of scarcity. Because resources are limited, people have to make trade-offs and compromises when determining how to use them.
For example, if someone has limited money, they may have to choose between buying food and buying a new coat. Similarly, a country may have to choose between investing in health care and investing in education.
In all of these cases, scarcity forces people to make difficult decisions about how to allocate limited resources.
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which of the following is correct? question 3 options: a decrease in the productivity of labor leads to economic growth. an increase in the quantity of labor always leads to economic growth. increased education adds to the stock of human capital. third world countries are rich in human capital.
Increased education enhances the stock of human capital in a manner similar to how building factories increases the stock of physical capital. So, option c is the best decision.
The idea is that education enhances people's technical and general intellectual abilities, increasing their capacity to create in the workforce. It follows that investing in education is wise and that people are not simply a source of cheap labor but also a sizable store of wealth.
Increased education enhances the stock of human capital in a manner similar to how building factories increases the stock of physical capital. The assertion holds that educated people are comparable to human capital and that human finances rise as education does.
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boyer industries has fixed costs of $600,000 and variable costs are 60% of sales. how much sales revenue will boyer report when its net income equals $60,000?
The sales revenue required to report a net income of $60,000 is $900,000
How did we get the values?To find the sales revenue, we need to equate the net income to the profit, which is equal to total revenue minus total costs (fixed and variable).
Profit = Total revenue - Total costs
Total costs = Fixed costs + Variable costs
Substitute the given values into the equations:
$60,000 = Total revenue - ($600,000 + 0.6 * Total revenue)
Expanding the variable costs term:
$60,000 = Total revenue - $600,000 - 0.6 * Total revenue
Rearranging the equation:
$60,000 + 0.6 * Total revenue = Total revenue - $600,000
0.4 * Total revenue = Total revenue - $600,000 + $60,000
0.4 * Total revenue = Total revenue - $540,000
0.6 * Total revenue = $540,000
Total revenue = $540,000 / 0.6
Total revenue = $900,000
So, the sales revenue required to report a net income of $60,000 is $900,000.
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2 A fall in the price of crude oil from $90 per barrel to $80 per barrel leads to an infinite fall in
quantity supplied
The price elasticity of demand with an infinite decrease in quantity supplied would be infinite.
Infinite elasticity, also known as perfect elasticity, is a scenario in which either the quantity demanded (Qd) or the quantity supplied (Qs) shifts by an infinite amount in response to any price change at all. This is an extreme example of the concept. The supply curve and the demand curve both have a line in both of these scenarios.
An extreme case would be a demand that is perfectly elastic. When we talk about perfect elastic demand, we imply that the quantity required will go all the way to infinity when the price goes down, but it will go all the way down to zero when the price goes up. You can think of perfectly elastic demand as "all or nothing" when consumers are particularly sensitive to changes in price. This is because consumers in this situation will either buy everything or nothing at all.
Your question is incomplete, but most probably your full question was:
A fall in the price of crude oil from $90 per barrel to $80 per barrel leads to an infinite fall in quantity demanded. Calculate the price elasticity of demand?
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stockholders are only one group of stakeholders. who are the stakeholders important to me inside the organization?
Stakeholders are individuals or groups who have a vested interest in the success and wellbeing of an organization. Within an organization, stakeholders can include employees, customers, suppliers, and lenders, in addition to stockholders.
The stakeholders that are most important to you within the organization will depend on your role and responsibilities within the company. Here are some of the stakeholders that are important to different individuals within an organization:
Employees: Employees are an important stakeholder group for the organization, as they contribute to the company's success through their work. They may also have a vested interest in the company's success, as they may receive benefits such as health insurance and retirement plans.
Customers: Customers are an important stakeholder group for the organization, as they provide the revenue that the company needs to operate. Companies that prioritize their customers' needs and provide high-quality products and services are more likely to have long-term success.
Suppliers: Suppliers are an important stakeholder group for the organization, as they provide the raw materials and components needed to produce the company's products. Companies that have good relationships with their suppliers are more likely to have access to high-quality materials and components at a reasonable cost.
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which type of unemployment is caused by job search and the difficulties of finding or filling a position?
The answer is frictional unemployment, is the type e of unemployment is caused by job search and the difficulties of finding or filling a position.
What is the straightforward description of unemployment?When a person has the ability and desire to work but is unable to do so, they are considered to be unemployed. According to the Bureau of Labor Statistics (BLS), unemployed people are individuals who don't have a job but are willing to work and have looked for one in the previous four weeks.
What does "unemployment" mean in India?A person is considered to be unemployed for the day if they do not engage in any paid labor, not even for an hour. Approach to Weekly Status: This method emphasizes the history of people who were without gainful employment or unemployed for even one hour on any day of the week prior to the survey date.
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when a company asks a creditor for a loan, what factor is a short-term creditor primarily interested in?
Long-term returns are what short-term creditors consider. They are worried about ratios like working capital and current ratio.
What does a short-term creditor care about most?Liquidity ratios, which can provide details about a company's liquidity and how quickly it can convert things like accounts receivable and inventory to cash, might be of particular importance to short-term creditors.
Would a short-term creditor be primarily concerned with a borrower's liquidity?The ability of a corporation to pay off short-term debt with current assets is the main worry of short-term creditors, hence they focus on the liquidity ratio that emphasizes cash flow.
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which supply chain planning process is defined as a hierarchical planning process that translates annual business plans, marketing plans, and demand forecasts into a production plan for a product family in a plant or facility?
Aggregate production plan is a production plan is defined as a hierarchical planning process that translates annual business plans, marketing plans, and demand forecasts into a production plan for a product family in a plant or facility.
A technique for creating a comprehensive manufacturing plan that guarantees continuous production at a facility is called aggregate planning.
A 3- to 18-month time frame is commonly used for aggregate production planning. A facility's production activities are all included in aggregate planning.
Aggregate planning aims to reduce operational expenses by matching production capacity with demand. An aggregate plan details what supplies and other resources are required, as well as when they should be bought in order to keep costs down.
Aggregate planning should aim to maximise facility output at the least expensive price for the manufacturer.
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Dallas Wong is an employee who receives educational assistance in the amount of $10,250 per year. Required: How is this amount treated for tax purposes?
During the project review phase of the new product development process, a full screen employs some sort of scoring model and resulting in a choice to proceed with development but never to quit.
The "fuzzy front end" of the innovative product development and commercialization process is often referred to.
The goal should be to develop a large number of worthwhile ideas that will serve as the backbone for the New Product Innovation approach.
This phase is not about coming up with foolproof concepts that are ready to go. Instead, unproven and uncooked ideas that can be refined later should be shared.
When an issue has been recognized, it is time to consider potential solutions. There should be possible New Product Development opportunities for every consumer concern.
Make a comparison chart that lists all of the challenges and solutions that were shortlisted. Distribute the findings around the organization to create a viable problem set.
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if the goal of marketing research is to shed light on the real nature of a problem and to suggest possible solutions or new ideas, the research is said to be
Answer:
Explanation:
Such research is termed as exploratory.
Marketing research is explained as any technique or a set of practices that companies use to collect information to analyze their target market better.
Organizations use this data to make better their products, increase their UX, and offer a good product to their customers. Marketing research is observed to determine what the customers want, and how they react to products or features of a product.
Four standard marketing research methods
The four most usual marketing research methods are surveys, interviews, customer observations, and united groups. You can research different ways without restrict us to just a particular way.
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which of the following is not a key assumption of cost-volume-profit analysis? multiple choice costs must be fixed. production and sales are equal. changes in total cost are strictly due to changes in volume. total costs and revenues can be depicted with a straight line.
Costs must be fixed; CVP assumes that all costs must be either fixed or variable; nevertheless, this is not a core premise of cost-volume-profit analysis.
Cost-volume-profit (CVP) analysis is a method for examining how changes in variable and fixed costs impact a company's profit. Companies can use CVP to calculate the number of units they need to sell to break even or reach a specific profit margin (pay all expenditures). The stability of the sales price, stable expenses, and variable costs per unit are a few of the presumptions employed in CVP analysis. The CVP formula can also be used to calculate the breakeven point. The number of units that must be sold or the amount of sales revenue required to cover the costs involved in producing the good is known as the breakeven point.
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Create a scenario for each word definition. (Total of 9 scenarios)
1-)Criticism - is the practice of judging the merits and faults of something. Criticism as an
evaluative or corrective exercise can occur in any area of human life. In specific areas of
human endeavor, the form of criticism can be highly specialized and technical; it often requires professional knowledge to understand the criticism.
2-) Disciplines - information literacy practices change based on the discipline (or what one is
studying or researching) to determine if information is relevant to the need
3-) Methods/techniques used to obtain or retrieve information.
The Web is potentially a terrific place to get information on almost any topic. Doing
research without leaving your desk sounds like a great idea, but all too often you end up
wasting precious time chasing down useless URLs.
4-)Accuracy - the document must be correct so you can put a point across
5-) Purpose - What is the author’s intention? Is the information fact, opinion, or propaganda? Is the author's point of view objective and impartial? Is the language free of emotion-rousing words or bias? Is the publication organized logically? Are the main points clearly presented? Do you find the text easy to read? Is the author repetitive?
6-) Proposals - a plan or suggestion, especially a formal or written one, put forward for
consideration or discussion by others.
7-) Copying - make a similar or identical version of; reproduce.
8-) Documentation - Every organization needs to save information for its own purposes,
such as institutional memory, transaction lookup and analysis, and so on.
9-) Recordkeeping – documents are duplicated or replaced
The scenarios are:
Scenario for Criticism: An art teacher critiques her students' paintings, pointing out the strengths and weaknesses of each one and offering suggestions for improvement.Scenario for Disciplines: A biology student searches for information about the impact of climate change on coral reefs. They must determine if the information they find is relevant to their field of study and if it can be trusted.Scenario for Methods/Techniques: A journalist uses multiple sources to fact-check information they find on the web. They use search engines, databases, and expert opinions to verify the accuracy of the information they collect.Scenario for Accuracy: A legal secretary is tasked with preparing a document that will be used in court. They must ensure that every detail in the document is correct and free of errors to avoid any legal consequences.What are the scenarios?The others are:
5. Scenario for Purpose: A reader evaluates the credibility of an article on climate change. They consider the author's point of view, the language used, the organization of the text, and the overall tone of the article.
6. Scenario for Proposals: A business owner presents a proposal to their partners to expand the company's operations into a new market. The proposal includes a detailed plan, financial projections, and a discussion of the potential risks and benefits.
7. Scenario for Copying: An office assistant makes a copy of an important document for each member of the management team. They take care to ensure that each copy is an exact replica of the original.
8. Scenario for Documentation: A human resources manager maintains a file for each employee, including their job application, performance evaluations, and disciplinary records. They use this information to make informed decisions about promotions, raises, and terminations.
9. Scenario for Recordkeeping: A doctor keeps a detailed record of a patient's medical history, including diagnoses, treatments, and medications. This information is used to track the patient's progress and ensure that they receive the best possible care.
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what a company does, how a company uniquely does it, how a company gets paid for doing it, and what costs are involved are all part of an organization's .
The business model of an organisation includes all of this. The method a business develops, delivers, and collects value is referred to as its business model.
It describes what a firm does, how it differs from competitors, how it generates revenue, and what expenses are associated with running the business. The target client segments, the value offer, the income streams, and the essential resources and activities necessary to achieve the value proposition should all be clearly defined in a well-designed business model. A company's operations must be in line with its overall strategy and objectives, which is why understanding the business model is crucial for its success.
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a company pays each of its two office employees each friday at the rate of $100 per day for a five-day week that begins on monday. if the monthly accounting period ends on tuesday and the employees worked on both monday and tuesday, the month-end adjusting entry to record the salaries earned but unpaid is:
the month-end adjusting entry to record the salaries earned but unpaid is: Debit salaries expense $400 and credit salaries payable $400
Total no. of employees=2
Salary per day =$100 per day
Month ends on tuesday and no . of working days = monday and tuesday(2)
Salary payable for the month end=2 employees*$100 per day *2 days
=$400
Entry for salary payable
salary Dr 400
Salary payable Cr. 400
An employment contract may include a salary clause as a type of recurring payment from an employer to an employee. In contrast, piece wages are paid separately for each work, hour, or other unit rather than on a regular schedule. Salary may also be seen from the perspective of operating a corporation as the expenditure of obtaining and keeping employees to carry out operations; this is known as a personnel expense or salary expense. Payroll accounts are used in accounting to record salaries.
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in a classified balance sheet, long-term physical assets used in the normal course of business are known as multiple choice investments. property, plant, and equipment. intangible assets. total assets.
Long-term physical assets employed in corporate operations are referred to as fixed assets. Due of the long-term financial benefits they provide, they are classified as property, plant, and equipment (PP&E) on the balance sheet.
Assets are divided into many classes on a categorised balance sheet, including fixed assets, current assets, real estate, investments, long-term assets, and intangible assets. An account that a business intends to hold for at least a year, such as stocks, bonds, real estate, and cash, is a long-term investment. Assets that are largely kept for trade are considered current assets, as are those that are anticipated to be sold, consumed, or otherwise realised in cash during the first year or business cycle after the reporting period.
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the return rate for each year of a 3-year investment are 3.1% (.031), 1% (.01), and 2% (.02). if the returns are compounded annually, what is the compounded rate of return over the 3 years? round to 2 decimal places.
If the earnings are compounded annually, the compounded earnings for 3 years is Rs. 15,000.
Let the amount be Rs. X
∴ The amount of Rs.x after the first year at an interest rate of 3% per annum.
Rs.x×(1+3100)=Rs.103x100
∴Year 2 Principal = Rs.103x100
Again, with compound interest of 2% per annum,
Rs. 103 x 100 amount
1 year = Rs.103x100(1+2100)=Rs.103x100×102100
∴Year 3 Principal = Rs. 103 x 100 x 102100
Currently, it operates at a compound interest rate of 1% per annum.
Rs.103x100x102100 amount
1 year
=Rs.103x100x102100x(1+1100)
= Rs.103 x 100 x 102100 x 101100
=Rs.101×102×102100×100×100.x
According to the question 101 × 102 × 103100 × 100 × 100.x = 15916.59
⇒x=15916.59×100×100×100101×102×103
⇒x=15000
∴Amount Required = Rs.15000
Dividend growth rate is the annual rate of growth that a particular stock's dividends experience over a specified period of time. Many mature companies strive to regularly increase the dividends paid out to their investors. Knowing the dividend earnings rate is an important input into the stock valuation model known as the dividend discount model.
Dividend Growth Calculates the average annual increase in dividends paid out by a company.
To value a stock using the dividend discount model, we need to calculate the dividend growth rate.
A history of large increases in dividends can mean that future dividend increases are likely, which can indicate long-term profitability.
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because you have taken a leadership course, you know that being a manager, coercive power is only appropriate when:
Coercive power is only appropriate when it is used as a last resort. It should only be used when other forms of power, such as reward and legitimacy, have been exhausted.
Coercive power is a form of power that is used to compel someone to do something that they would not have done otherwise. The use of coercive power can be seen in situations where a manager must take disciplinary action in order to maintain order and discipline in the workplace.
When using coercive power, it is important to ensure that it is used fairly and consistently. This means that the same rules should apply to everyone and that the punishment should be proportional to the offense. It is also important to ensure that all employees are aware of the rules and that these rules are enforced consistently.
In addition, it is important for a manager to understand the implications of using coercive power. This includes the potential for resentment from employees and the possibility of a decrease in morale.
Therefore, coercive power should only be used in extreme cases and as a last resort. Ultimately, it is important for a manager to understand the implications of using coercive power and to ensure that it is used fairly and appropriately.
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surface co. is an online retailer of electronic products, including laptops and tablets. the company has a reputation for its unique approach to customer support; surface co. is known for going above and beyond in satisfying customer complaints and issues. what kind of a strategy is surface co. using?
The customer centric strategy may be used to characterise Surface co. approach to customer service. This strategy emphasises putting the client first and prioritising their pleasure.
Tablets and laptops are among the electrical goods sold by Surface online. The business adopts a customercentric strategy, emphasising client happiness and going above and beyond to address client grievances and difficulties. This strategy fosters solid client loyalty and generates favourable word ofmouth referrals. Surface Co. may have long-term success by successfully resolving customer concerns as well as decreased customer turnover and improved customer retention.Tablets and laptops are among the electrical goods sold by surface co. online. The business is well known for its distinctive method of customer service; Surface Co. is renowned for going above and
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andersen's nursery has sales of $318,400, costs of $199,400, depreciation expense of $28,600, interest expense of $1,100, and a tax rate of 34 percent. the firm paid out $16,500 in dividends. what is the addition to retained earnings?
Andersen's nursery has $318,400 in revenue, $199,400 in expenditures, $28,600 in depreciation, $1,100 in interest, and a 34% tax rate. The company distributed $16,500 in dividends. The increase in retained profits is $42,438.
Therefore, Earnings Before Interest and Tax = Sales - Cost - Depreciation.
Earnings Before Interest and Tax = 318400 - 199400 - 28600
Earnings Before Interest and Tax = $90,400
Interest Expense = $1,100
Earnings Before Tax = Earnings Before Interest and Tax - Interest Expense
Earnings Before Tax = 90400 - 1100
Earnings Before Tax = $89,300
Tax Rate = 34%
Net Income = Earnings Before Tax * ( 1 - Tax Rate )
Net Income = 89300 * ( 1 - 0.34 )
Net Income = $58,938
Dividend = $16,500
Addition to Retained Earnings = Net Income - Dividends
Addition to Retained Earnings = 58938 - 16500
Addition to Retained Earnings = $42,438
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in a system with fractional-reserve banking: all banks must hold reserves equal to a fraction of their loans. the banking system completely controls the size of the money supply. no banks can make loans. all banks must hold reserves equal to a fraction of their deposits.
All banks are required to retain reserves in a system that applies fractional reserve requirements in relation to deposits. The recommended choice is (D).
The entire money supply is determined by dividing reserves by both the reserve requirement ratio in the absence of currency, all proceeds are stored someplace in the financial sector, and rr stands for the reserve requirement ratio.
Banks produce money under a banking system of fractional reserve because every dollar of deposits results in several dollars of bank reserves.
A capital requirement is the minimal level of shareholder stock in a bank that is required by authorities.
Banks generate money even before participants issue loans in a banking system with fractional reserve.
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what famous american filed the first patent on a process using strips of clear plastic photos and film?
Answer: Alexander Parkes
Explanation: Parkes patented his discovery as Parkesine in 1862 after realising a solid residue remained after evaporation of the solvent from photographic collodion.
to grow sales, under armour increased its spending on advertising by 35 percent to increase sales in its current markets. which growth strategy does this represent?
This growth strategy is known as market penetration. Market penetration is a strategy used by companies to increase sales and market share in their current markets. Companies use this strategy to increase sales of existing products or services to existing customers.
By increasing advertising spending, Under Armor seeks to increase the visibility of its products and services and attract new customers in its current markets. This can be achieved by targeting existing customers with promotional campaigns, discounts or free trials. By investing more in advertising, Under Armor hopes to increase the number of customers it has and increase its sales in its current markets.
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a client uses a suspense account for unresolved questions whose final accounting has not been determined. if a balance remains in the suspense account at year end, the auditor would be most concerned about
The auditor would be most concerned about suspense debits that management believes will benefit future operations.
Management is the process of planning, organizing, directing, and controlling the activities of an organization or a group of individuals to achieve specific goals and objectives. It involves coordinating the efforts of people, utilizing available resources, and making decisions that affect the overall performance and success of the organization.
Management is a vital aspect of business and organizations, as it helps to ensure that resources are used effectively and efficiently. Effective management can lead to improved performance, increased productivity, and higher levels of customer satisfaction.
Management can also refer to the group of individuals responsible for overseeing and making decisions within an organization. These individuals typically hold leadership positions and are responsible for setting and achieving organizational goals, as well as ensuring that the organization operates effectively and efficiently.
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chapter 13 bankruptcy stays on your credit report for..
Information about a specific account is erased from your credit report seven years after the account's final activity, except for Chapter 13 bankruptcy, which stays on your credit report for 10 years.
For seven years, any late payments will show up on the credit record. Based on when the delinquency happened, the 7-year rule was established. Whether you made the account current after the missing payment determines whether a whole account will be terminated.
The late payments that are more than seven years old will be erased if the account is brought current, but the remainder of the account history will be kept. This is standard procedure, with the exception of Chapter 13 bankruptcy, which has a 10-year impact on your credit record.
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The following question may be like this:
Individual account information is removed from your credit report seven years after the last activity on the account, except for chapter 7 bankruptcy, which stays on your credit report for:
the simplest way to think about throughput is the quantity of work completed.a.trueb. false
The simplest way to think about throughput is the quantity of work completed. The given statement is true.
The quantity of work completed in a specific period of time, commonly referred to as throughput, is a key measure of efficiency and productivity in operations and production systems. Throughput measures the amount of product or service produced by a system and can be calculated by dividing the total output by the total input. In many organizations, the goal is to maximize throughput by reducing bottlenecks and increasing efficiency. This can be achieved through various means such as streamlining processes, investing in technology and equipment, and improving the skills and knowledge of employees. By focusing on improving throughput, organizations can increase their output, reduce waste, and ultimately achieve greater success. It is important to note that while throughput is a useful metric, it should not be the sole focus of an organization.
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convexity arises because: multiple choice bonds pay interest semiannually. coupon changes are the opposite sign of interest rate changes. duration is an increasing function of maturity. present values are a nonlinear function of interest rates. duration increases at higher interest rates.
Convexity arises because of several reasons, including the fact that bonds pay interest semiannually and coupon changes are the opposite sign of interest rate changes. Additionally, duration is an increasing function of maturity, meaning that as the maturity of a bond increases, its duration also increases.
This results in a more significant change in the bond's price for a given change in interest rates. Furthermore, present values are a nonlinear function of interest rates, meaning that a small change in interest rates can result in a disproportionately large change in the present value of a bond. Finally, duration increases at higher interest rates, meaning that as interest rates increase, the bond's price is more sensitive to interest rate changes. These factors all contribute to the convexity of bond prices, which is the curvature of the relationship between the bond's price and interest rates.
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sales were $7810000, sales discounts were $90000, sales returns and allowances were $20000, and the cost of merchandise sold was $4240000. what was the amount of gross profit
Net sales are reduced by the cost of goods sold to arrive at the gross profit. The amount of gross profit is 3460000.
Gross profit is the amount of money a business makes from the sale of its products before deducting any indirect expenses, such as selling and administrative expenditures. Gross profit, commonly referred to as net income, is the money retained by a business after deducting the costs associated with producing, marketing, and providing its products or services. The outcome of deducting cost of goods sold (COGS) from revenue is a company's gross profit, which is shown on its income statement (sales). The income statement of a business will include these numbers.
Net Sales = Sales - sales discount - sales returns and allowances
Net Sales = $7810000- $90000 - $20000
Net Sales = $7700000
Cost of merchandise sold = $4240000
Gross Profit = Net Sales - Cost of merchandise sold
Gross Profit = $7700000- $4240000= $3460000
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in quickbooks online, what 4 data points do you need to set up sales tax for a client who only does business in their home state?
To set up sales tax for a client who only does business in their home state in QuickBooks Online, you need to provide the following four data points:
Home state: You need to specify the home state of your client. This is important because sales tax rates vary from state to state, and QuickBooks Online uses this information to calculate the correct rate for each transaction.
Tax agency: You need to select the tax agency that is responsible for collecting sales tax in your client's home state. QuickBooks Online has a database of tax agencies across the US, so you can simply select the correct one from a list.
Tax rate: You need to specify the tax rate that applies to your client's home state. This can be found on the state's revenue department website.
Taxable items: You need to specify which items or services your client sells are subject to sales tax. This information is used by QuickBooks Online to calculate the correct amount of tax to collect and remit to the tax agency.
By providing these four data points, you can set up sales tax for a client who only does business in their home state in QuickBooks Online.
To set up Sales Tax for a client who only does business in their home state in QuickBooks Online.
Here correct answer will be
The sales tax rate, the frequency of filing, the state where the business is located, and the agency that collects the tax. The sales tax rate is the percentage of the purchase price of taxable or services that the customer must pay in sales tax.
The frequency of filing must be determined, as different states have different filing requirements. The state in which the business is located must be specified, as the tax rate and filing frequency will vary depending on the state.
Lastly, the agency that collects the tax must be identified. This information will provide the necessary information to set up Sales Tax for the client within QuickBooks Online.
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