Answer:
d. Rogers was assuming the role of a mentor.
Explanation:
Remember, the term mentor is usually assigned to someone who is more experienced, and who provides valuable and trusted advice to someone with lesser experience.
Based on this description, and the fact that we are told that "Rogers was able to show Elliott the places where trouble was likely to occur," makes Roger fit the role of a mentor.
To find opportunities, be ________, _________, and _________.
Entrepreneurship and Small business management Chapter 6
Glencoe
Answer:
Observant, critical, and Flexible
Explanation:
In business, Observant refers to the amity to notice the current market trends. This will provide you with a general idea on what the customers desire and seek an opportunity from that demand.
Critical is correlated with the ability to analyze and develop a proper plan to execute the initial idea until the profit was generated.
Flexible is correlated to the ability to make change. Rather than relying on personal opinion that can be biased, we need to open to changes and move according to the data that we collected from the market.
Recently, Job P951 was completed with the following characteristics: Number of units in the job 100 Total direct labor-hours 100 Direct materials $ 800 Direct labor cost $ 10,700 The unit product cost for Job P951 is closest to:
Answer:
$2,851
Explanation:
The above is an incomplete question. However, a similar question is as seen below
Dehner corporation uses a job order costing system with a single plant wide predetermined overhead rate based on direct labor hours. The company based its predetermined overhead rate for the current year on the following data.
Total direct labor hours 70,000
Total manufacturing fixed overhead cost $273,000
Variable manufacturing overhead per direct labor hour $6.
Given that;
Number of units produced = 100
Direct labor hours = 100
Direct materials = $800
Direct labor cost = $10,700
The unit product cost for jobP951 is
Direct materials = $800
Direct labor cost= $10,700
Variable manufacturing overhead = $6 × 100 = $600
Total fixed manufacturing overhead = $273,000
Total cost = ($800 + $10,700 + $600 + $273,000) = $285,100
Unit product cost = $285,100 ÷ 100
Unit product cost = $2,851
Is it necessary that the five steps in the strategic management process be performed sequentially? Why or why not?
Answer:
No
Explanation:
Strategic management process may be defined as the process which appraises the industries and business where the organization is involved. It is the culture of appraisal that any business adopts in order to outdo their competitor.
There are mainly 5 steps for the strategic management process in any business. They are :
-- in goal setting
-- to analyze
-- in strategy formulation
-- in strategy implementation
-- to control and evaluate
These are main 5 steps which follows a logic and is easily understandable as it is simple process. But it is not compulsory for the business or organization to take these steps in a sequential manner. It depends upon the company's need. Many company analyses the internal as well as the external factors that affects their strategy which is important to their business process. So they may start with any step for the appraisal process. They can start with any step and see the impact of it and then change or move to any other step depending upon their necessity. It is according to the company's need and situation that these steps are taken in any sequence by the company.
In the last reporting period, Helena's Heavenly Fixture Company recorded 100,000 units sold for the first time in the history of the company. The price per unit was $89.99 and variable costs per unit at $36.39. Showing all work in the space provided, compute the contribution margin. Next, compute the fixed costs if the operating income is $4,020,000.
Answer and Explanation:
The computation is shown below:
For the contribution margin
= Number of units sold × (Selling price - variable cost)
= 100,000 units × ($89.99 - $36.69)
= $5,360,000
Now the fixed cost is
= Contribution margin - operating income
= $5,360,000 - $4,020,000
= $1,340,000
hence, the same is to be relevant
Suppose a bank has $600 million in deposits and $30 million in required reserves, and it is holding no excess reserves. What is the required reserve ratio
Answer:
5%
Explanation:
Deposit= $600 million
Required reserve= $30 million
Required reserve ratio= required Reserve/deposit
= 30 million/600 million
= 0.05×100
= 5%
Hence the required reserve ratio is 5%
banks are financial intermediaries that have customer deposits as its primary asset and loans to borrowers as their primary liability. B. provide liquid assets to lenders and long-term financing to borrowers. C. are types of mutual funds. D. have customer deposits as its primary asset and that provide liquid assets to lenders. E. increase transaction costs to both borrowers and depositors.
Answer:
By a process of elimination, the answer is:
B. provide liquid assets to lenders and long-term financing to borrowers.
Explanation:
A. have customer deposits as its primary asset and loans to borrowers as their primary liability. ⇒ WRONG, IT IS THE OTHER WAY AROUND
C. are types of mutual funds. ⇒ WRONG, MUTUAL FUNDS ARE DIFFERENT THAN BANKS
D. have customer deposits as its primary asset and that provide liquid assets to lenders. ⇒ WRONG, DEPOSITS ARE LIABILITIES
E. increase transaction costs to both borrowers and depositors. ⇒ WRONG, BANKS DECREASE TANSACTION COSTS
Personally, I believe that a better description would be that banks have customer deposits as its primary liabilities and loans to borrowers as their primary assets.
calculate mpc when a change in investment spending of $40 million leads to an increase in real gdp by $160 million
Answer:
mpc is equal to 0.75
Explanation:
This can be calculated as follows:
Increase in real gdp = multiplier * change in investment spending ............ (1)
Where;
Increase in real gdp = $160 million
multiplier = ?
change in investment spending = $40 million
By suppressing the million, substitute the values into equation (1) and solve for multiplier, we have:
$160 = mpc * $40
multiplier = $160 / $40 = 4
The multiplier is given as follows:
multiplier = 1 / (1 - mpc) .................... (2)
Substituting multiplier = 4 into equation (2), and solve for mpc, we have:
4 = 1 / (1 - mpc)
4(1 - mpc) = 1
4 - 4mpc = 1
4 - 1 = 4mpc
3 = 4mpc
mpc = 3 / 4
mpc = 0.75
Therefore, marginal propensity to consume (mpc) is equal to 0.75.
You would like to set aside enough money to pay for the maintenance you will need for your new car. You estimated that you will need $600 at the end of year 3, and another $700 at the end of year 5. How much do you need to set aside today in order to pay for all these expenses, assuming the bank pay 5% per year compounded annually
Answer:
$1066.77
Explanation:
The amount that would need to be saved today is referred to as present value.
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 and 2 = 0
Cash flow in year 3 = $600
Cash flow in year 4 = 0
Cash flow in year 5 = $700
I = 5
present value = $1066.77
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
I am starting a new company as the sole owner. My company will go into people's homes after a fire or flood and clean up and repair any damage. I plan on having 10 employees and hope to expand outside of Raleigh in the future. Should I open my business as a "sole proprietorship" or as an "LLC"?
Answer:
LLC
Explanation:
Sole proprietorships don't have employees
John’s Landscaping had shareholders that invested $150,000. The company has earned revenues of $75,000, of which $50,000 were collected. They have incurred expenses of $82,000. Calculate its net income. Group of answer choices
Answer:
the net income is -$7,000
Explanation:
The computation of the net income is shown below:
As we know that
Net income = earned revenues - incurred expenses
= $75,000 - $82,000
= -$7,000
By deducting the expenses from the revenues we can get the net income
But here the net income is in negative as the expenses are more than the revenues
So, the net income is -$7,000
Explain how current economic indicators, such as inflation and unemployment, affect you personally. Explain how they may affect you as a manager
Answer is given below :
Explanation:
In an economy, inflation raises the price level of the basket of goods and services, thus reducing the demand for this affected good and services. This decrease will increase the listings in companies as sales of these goods and services will decrease. Production is the work of labor and capital, NRSE inflation is reduced and there is no need for more production at the company level to reduce the inventory sold, which allows firms to reduce costs in the form of labor cost and other variable costCompanies tend to sell their untold innovations due to declining sales and top-downs that reduce profit margin. Therefore managers are concerned about the profitability of the company and their bonus.Amy Monroe wants to create a fund today that will enable her to withdraw $25,000 per year for 8 years, with the first withdrawal to take place 5 years from today. If the fund earns 8% interest, how much must Amy invest today
Answer:
$114,047
Explanation:
We are required to find the amount to be Invested today (Present Value)
Summary of the Cashflows are :
Year 0 = $0
Year 1 = $0
Year 2 = $0
Year 3 = $0
Year 4 = $0
Year 5 = $25,000
Year 6 = $25,000
Year 7 = $25,000
Year 8 = $25,000
Year 9 = $25,000
Year 10 = $25,000
Year 10 = $25,000
Year 10 = $25,000
Manually
We can calculate the Net Present Value by discounting each individual payment at their appropriate period and adding up the totals to arrive at the Present Values.
PV = FV / ( 1 + R) ^ n
Where,
FV = the future cash flow stream ($25,000)
R = interest rate 8%
n = year (n = 5 for the first payment)
Financial Calculator
Alternatively we can calculate this using the CF Function of the Financial calculator as follows :
$ 0 = CFj
4 = Nj
$25,000 = CFj
8 = Nj
Shift NPV = $114,047
The group of retired executives that work with small businesses as advisors on a wide range of issues is called the:
Answer:
Service Corps of Retired Executives (SCORE
Explanation:
The SCORE is a non profit organization. Their members are retired executives who are engaged with the provision of free consultation and counseling services and also giving advices to entrepreneurs and small business owners.
This organization has offices in most parts of the united states and their services can be rendered in person or online. Their counseling services are in all areas and the client bears no charges.
Privacy laws include governing: agreements about supply and delivery of goods. agreements about supply and delivery of goods. enforcing intellectual property rights. enforcing intellectual property rights. employee pay structures employee pay structures data collection, storage, use and permissions.
Answer is given below:
Explanation:
Privacy laws governing the regulation, storage and use of personally identifiable information, personal health information Privacy laws are considered in the context of an individual's privacy rights or a reasonable expectation of privacyso that Privacy laws include governing : Data collection, storage, use and permissionsAssuming they began by opening just one or two stores in Mexico, what do you see as the main HR-related challenges he and Jennifer would have to address
Answer and Explanation:
The following are the HR-related challenges that he and Jennifer would have to face:
1. Language - As english and spanish both are required
2. Culture: The culture is different i.e. latin american and the northern american
3. The level of motivation and the workers morale would be lesser in mexico they required the supervison and the reguarly stimulation
4, The biasness, discrimination are pre-existed problem it would take time for the expatriates to get used to it
1. How do businesses and not-for-profit organizations help create our standard of living?
Answer:
Businesses attempt to earn a profit by providing goods and services desired by their customers.
Explanation:
Not-for-profit organizations, though not striving for a profit, still deliver many needed services for our society. ... Thus, businesses and not-for-profit organizations help create our standard of living.
Mae Company sells its product for $12 per unit and has variable costs of $8 per unit. Total fixed costs are $60,000. Suppose variable costs increase by 10% due to an increase in the cost of direct materials. What will be the effect on the breakeven point in units
Answer:
Effect : Increase in Break Even units by 3,750 units to 18,750 units
Explanation:
Break even point is the level of activity at which a firm makes neither a profit nor a loss
Break even Point (Units) = Fixed Costs ÷ Contribution per unit
where,
Contribution per unit = Selling price per unit - Variable Costs per unit
= $12 - $8
= $4
Therefore,
Before Increase
Break even Point (Units) = $60,000 ÷ $4 = 15,000
After Increase
New Contribution = $12 - ($8× 1.10)
= $3.20
Therefore,
Break even Point (Units) = $60,000 ÷ $3.20 = 18,750
A trading firm ABC, Inc. has been in continuous existence for the past 20 years. In the year 2004 it purchased 2000 baseball bats for $ 6 each and sold 1700 of these for $10 each. What was the profit or loss of the firm in 2004
Answer: $6,800
Explanation:
Profit (loss) = Revenue - Cost of goods sold
Cost of goods sold = Purchases - closing stock
= (2,000 * 6) - (300 * 6)
= $10,200
Total Revenue:
= 1,700 * 10
= $17,000
Profit = Revenue - cost of goods sold
= 17,000 - 10,200
= $6,800
(closing stock is 300 because 1,700 units were sold)
In Angola in 2004, GNI is much less than GDP. Angola is an oil-exporting country. What is a plausible relationship between these two facts
Answer:
The GDP includes the value of all the final goods and services produced in a country, while the GNI includes the value of all the final goods and services produced by the citizens of a country, regardless of where they are located.
Angola's GDP is higher than its GNI because many foreign companies must produce oil, and that increases GDP but is not included in the GNI).
To achieve organizational goals in large, complex organizations, which components must function together
Answer:
VUCA environment and large organization
Explanation:
Here VUCA means volatility, non-certainty, complexity and ambiguity. It explains the condition where there is non-predictable change would be done for industries and business areas
In order to accomplish the goals of an organization in large and in complex way the components that function together is VUCA environment and large organization
So the same is relevant
. Explain ‘communication cycle' and its essential
elements?
Explanation:
The communication cycle can be understood as a process composed of eight elements responsible for making a message transmitted and understood. Through these steps, communication can be carried out in a more efficient and effective manner, making the central objective of communication possible.
1- Source: It is the sender of the message, the person or the group that will transmit it.
2- Message: It is in fact the information that the sender intends to send.
3- Channel: The channel will be the method by which the message will be transmitted, such as telephone, internet, tv, radio, etc.
4- Receiver: It consists of the person who will receive the message. Who the message is for.
5- Feedback: It is the recipient's response to the message. It means that the message has been understood.
6- Environment: It means to which environment the message will be transmitted. If it is an organizational environment, for example, the message must follow some fundamental requirements, such as language or formal writing.
7- Context: It is the content of the message, adapted to the recipient of the message;
8- Interferences: These are internal or external problems that hinder the delivery of the message to the recipient and its understanding, such as difficulty in understanding symbols and jargon used in a communication email.
Total variable costs ________ with decreasing output. A) always increase B) always decrease C) initially increase and then decrease D) initially decrease and then increase
Answer:
The answer is B.
Explanation:
Total variable cost always increases as output(unit of production) increases. And it also decreases with decreasing output(unit of production).
Variable cost is different from fixed cost in that it changes with output.
1. Seven out of every ten families in America live
loan to loan
job to job
paycheck to paycheck
house to house
Answer:
paycheck to paycheck
Explanation:
Living from paycheck to paycheck means that a big proportion of an individual or household income is spent on expenses. It is a situation where individuals do not save for emergencies and have no tangible investments. Almost all their incomes are spent on consumables.
In the US, over 70 % of households have not saved for rainy days. Should these families lose their source of income, they will have challenges in meeting their financial obligations almost immediately.
If the Edwards production plan for the next period includes 1000 units of component 1 and 800 units of component 2, what purchases do you recommend
Answer and Explanation:
The computation is shown below:
Particulars Supplier
1 2 3 Overall
Component 1 1000 1000
Component 2 650 50 100 800
From the above table the component 1 should be ordered to supplier 2 as the price is lesser in this case and also it is able to supply total production needed as per the component 1
In addition to this, the component 2 should be ordered to supplier 1 for 650 units as the price is lesser and the remaining balance could be ordered from supplier 2 or 3 as the prices are similar
The price of houses in Bellevue area has been increasing by 10% since last year, according to Zillow Group of answer choices This is a negative statement This is a judgmental statement This is a normative statement This is a positive statement
Answer: This is a positive statement
Explanation:
A positive statement is defined as a statement that's based on facts. These statements are also factual. A normative statement is a statement whereby a value judgement is used.
With regards to the question, we are told that the price of houses in Bellevue area has been increasing by 10% since last year, according to Zillow. This shows that the statement is factual and therefore positive.
Alpha's preferred stock currently has a market price equal to $80 per share. If the dividend paid on this stock is $6 per share, what is the required rate of return investors are demanding from Alpha's preferred stock
Answer:
the required rate of return is 7.5%
Explanation:
The computation of the required rate of return is shown below;
As we know that
The price of preferred stock = Dividend ÷ Required rate of returen
$80 = $6 ÷ required rate of return
So, the required rate of return is
= $6 ÷ $80
= 7.5%
hence, the required rate of return is 7.5%
(True) or (False)? A long-term liability that has a portion of it due in the current year should have part reported on the balance sheet as a current liability, with the rest reported on the balance sheet as a long-term liability. Group of answer choices
Answer:
True
Explanation:
The liability that has an obligation to pay the debt within 12 month is known as the current liabilities but the obligation to pay the debt above 12 months is known as long term liability
So if the portion of its due in the current year so the same is considered as current liability and rest would be recorded as a long term liability
Hence, the given statement is true
The Federal Reserve buys $44.00 million in Treasury securities. If the required reserve ratio is 30.00%, and all currency is deposited into the banking system, and banks hold excess reserves of 10%, then the maximum amount the money supply can increase is $ million. (Insert your answer in millions; if you think the answer is $30 million, just enter 30. Round your answer to two decimal places.)
Answer:
the money supply would increased by 98
Explanation:
The computation of the maximum amount by which the money supply could increase is shown below;
= Deposit × 1 ÷ Reserve ratio
= 44 × 1 ÷ (0.35 + 0.10)
= 44 × 1 ÷ 0.45
= 44 × 2.2222
= 98
Hence, the money supply would increased by 98
It could be determined by applying the above formula
Last year Almazan Software reported $10.500 million of sales, $6.250 million of operating costs other than depreciation, and $1.300 million of depreciation. The company had $5.000 million of bonds that carry a 6.5% interest rate, and its federal-plus-state income tax rate was 25%. This year's data are expected to remain unchanged except for one item, depreciation, which is expected to increase by $0.670 million. By how much will net income change as a result of the change in depreciation
Answer:
b. -$0.202 million
Explanation:
Missing word "The company uses the same depreciation calculations for tax and stockholder reporting purposes. Multiple choice a. -$0.232, b. -$0.202, c. -$0.155, d. -$0.193"
As depreciation is expected to increase this year by $0.31 million, therefore expenses will increase and will result in decrease in income before tax by $0.31 million
Additional tax saving on increase in depreciation = $0.31 * 35% = $0.108 million
Total change in net income = -$0.31 + $0.108 = -$0.202 million
Interest: How much time will it take for an amount of 450 to yield 81 as interest at 4.5% per annum of simple interest?
Answer:
4 years
Explanation:
Simple Interest is calculated using the formula below
I= P x r x t
Where I = Interest
p= principal
r= interest rate
t= time in years
In this case
I=81
p=450
r=4.5 % or 0.045
t=???
Therefore;
81= 450 x 0.045 x t
81=20.25t
t=81/20.25
t=4
It will take four years