The data analyst uses data to help the company make a more informed forecast. this is an example of Making predictions problem type.
A data analyst examines data to find significant insights about a company's customers and potential uses for the information in problem-solving. They also share this information with the company's management and other stakeholders. Modern businesses rely heavily on data analysts to reflect on their work and client base, determine how these aspects have affected profitability, and advise leadership on how to move forward and expand the company.
Making predictions based on historical and current data is the process of forecast. These might then be evaluated in light of what transpires. A business might, as an illustration, forecast its income for the upcoming year and then contrast it with the actual outcomes. Numerous fields where projections of future conditions are helpful can benefit from forecast.
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carpenter inc. had a balance of $80,000 in its quality-assurance warranty liability account as of december 31, 2020. in 2021, carpenter's warranty expenditures paid were $445,000. its warranty expense is calculated as 1% of sales. sales in 2021 were $40 million. what was the balance in the warranty liability account as of december 31, 2021?
The balance in the warranty liability account as of December 31, 2021 will be $35,000.
Warranty expense for 2021 = $40 millions * 1%
Warranty expense for 2021 = $400,000
Balance in Liability on 31 Dec = Warranty Liability on 1 Jan + Warranty Expenses - Warranty Expense paid
Balance in Liability on 31 Dec = $80,000 + $400,000 - $445,000
Balance in Liability on 31 Dec = $35,000
A warranty liability is an account that a business uses to record the cost of repairs or replacements that it anticipates having to make for goods that have already been shipped or services that have already been rendered. When it comes to more complicated products that are prone to breaking, this can be a serious liability.
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If demand is ______ with respect to price, a price increase will ______ total revenue.
If demand is inelastic with respect to price, a price increase will increase total revenue.
In the field of economics, an inelastic demand can be described as a demand of a product that is not changed either by increasing or decreasing the price of a product. The customers will still be interested in buying the product if the price becomes lower or greater.
Hence, for products that have an inelastic demand, an increase in the price of the product will mean that the total output or revenue from this product will increase.
Normally, demand for inelastic products is those that are a necessity, and hence customers have to buy them at any cost.
Although a part of your question is missing, you might be referring to this question:
If demand is ______ with respect to price, a price increase will ______ total revenue.
elastic; increase
inelastic; increase
unit elastic; decrease
inelastic; decrease
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a company borrowed $28,000 by signing a 180-day promissory note at 6%. the total to be paid at maturity of the note is:
The total to be paid at maturity of the note is $282840.
We have borrowed $28,000, which we have given. The day of signing or note is 180. 360 days in a year. The interest rate is 6%.
Therefore, interest on a loan is calculated as follows: borrowed amount x interest rate x note period/number of days in a year = 28000 x 6 x 180/360 = 840.
So, note maturity value = borrowed amount + interest on note period
= $28000+$840 = $28840. Therefore, the maturity value will be $282840.
The maturity value of a financial obligation is the sum owed and required to be paid to the holder as of the obligation's maturity date. The expression usually refers to the outstanding principal sum of a loan or bond.
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which procedure is an auditor most likely to use to detect a check outstanding at year-end that was not recorded as outstanding on the year-end bank reconciliation
Utilizing the client's cash receipts and cash disbursements records, create a bank transfer timetable. The auditor creates a bank transfer schedule that details all deposits and withdrawals from a bank account, including intra-bank transfers.
A few days before and after the conclusion of a reporting period's withdrawal and deposit deadlines. This would aid in locating any checks that were unpaid at year's end but weren't noted as such on the year's end bank reconciliation. The right response is therefore option a.
Since the outstanding checks would not be shown on the cut-off bank statement or bank confirmation. Since bank deposit slips are intended to deposit checks and do not display issued or outstanding checks,
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if wendy's airs a television advertisement delivering a message about a special promotion at its restaurants, wendy's is the blank in the communication process. multiple choice question. receiver source channel field of experience
If Wendy's airs a television advertisement delivering a message about a special promotion at its restaurant, Wendy's is the SOURCE in the communication process.
Four essential elements make up the communication process. These elements consist of encoding, transmission medium, decoding, and feedback. Two additional factors are involved in the process, and those two additional factors are represented by the sender and the receiver.
There are five steps in the communication process: idea generation, encoding, channel selection, decoding, and feedback. Noise is anything that obstructs effective communication.
The actions we take to successfully communicate are referred to as the communication process. The sending party, message encoding, channel selection, message receipt by the recipient, and message decoding are all aspects of the communication process.
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the aggregate demand curve is: group of answer choices downward sloping because of the interest-rate, real-balances, and foreign purchases effects. horizontal when there is considerable unemployment in the economy. downward sloping because production costs decrease as real output rises. vertical under conditions of full employment.
The aggregate demand curve is Downward sloping because of the interest-rate, wealth, and foreign trade effects.
The demand from domestic and international consumers for all services and goods produced in an economy is known as the aggregate demand. Because it demonstrates the relationship between the price level and real GDP, aggregate demand and GDP are closely related.
The slope of the aggregate demand curve is explained by three main factors. Please take note that the x-axis in the aggregate demand graph represents national income or real GDP and the y-axis the price level. The relationship between interest rates and investment in a nation is the cause of the first factor. Accordingly, higher investment levels result from lower interest rates, which in turn affect real GDP. The connection between price levels and wealth is the second justification. The population's consumption and wealth rise as prices fall in that nation. The growth in international trade as a result of lower prices is the third factor. That is to say, when a nation's prices are lower, it is more competitive on the global market, which increases exports and real GDP.Contrarily, horizontal aggregate demand would imply that demand is perfectly elastic, implying that any increase in price would trigger a sensitive response from consumers. Consumers wouldn't react to any price increases if there was vertical aggregate demand, and supply is determined by production costs.Learn more about Aggregate demand, here
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the agreements that allow independent owner/ operators of mcdonald's restaurants around the globe to use mcdonald's trademarked name and menu items represent, in essence, which form of market entry?
We get into a 20-year contract with just one employee for each restaurant.
A McDonald's franchise deal lasts for how long?We get into a 20-year contract with just one employee for each restaurant. One individual completes the course, signs the contract, and is thereafter designated as the Franchisee. You will have the opportunity to benefit from owning such a firm as a franchisee. information on trademarks. McDonald's or its licensors are the owners of all trademarks, service marks, and all graphic components, including the look and feel, that appear on the online services. These items are distinctive and protected trade dress. Legally speaking, a franchise agreement is a legally enforceable contract between the franchisor and the franchisee. A franchise agreement's purpose is to grant the franchisee permission to run a franchised business using the franchisor's system and property marks.
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two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. determine the amounts of the missing items, identifying them by letter. finished goods inventory, june 1 $72,300 $25,300 (e) cost of goods manufactured 368,700 (c) 88,600 cost of finished goods available for sale (a) $240,400 $139,200 finished goods inventory, june 30 85,600 50,500 (f) cost of goods sold (b) (d) $128,100
According to the given information, the missing value costs are (a) = $ 441,000, (b) = $ 355,400, (c) = $ 315,100, (d) = $ 189,900, (e) = $ 50,600, (f) = $ 11,100.
Cost of finished goods available for sale = Beginning finished goods + Cost of goods manufactured
Cost of goods sold = Cost of goods manufactured - Ending Finished Goods
(a). $ 72,300 + $ 368,700 = $ 441,000
(b). $ 441,000 - $ 85,600 = $ 355,400
(c). $ 240,400 - $ 25,300 = $ 315,100
(d). $ 240,400 - $ 50,500 = $ 189,900
(e). $ 139,200 -$ 88,600 = $ 50,600
(f). $ 139,200 - $ 128,100 = $ 11,100
A cost is the value of money that has been expended in the production or delivery of a good or service and is therefore no longer available for use in accounting, retail, research, or accounting. In business, the cost may be one of acquisition, in which case the cost is the sum of the money used to acquire it. In this instance, the input required to obtain the item is money. This acquisition cost could include both additional transactional costs incurred by the acquirer over and above the price paid to the producer, as well as the cost of production incurred by the original producer. In most cases, the price also includes a profit margin over the cost of production.Learn more about Cost, here
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revenue inc. owns more than 90 percent of the shares of sales corporation. a copy of a plan for a merger of revenue and sales must be sent to each shareholder of
Revenue inc. owns more than 90 percent of the shares of sales corporation. a copy of a plan for a merger of revenue and sales must be sent to each shareholder of revenue.
What is revenue?In the context of accounting, revenue refers to the total income from sales of products and services that are directly related to the company's core operations. Sales or turnover are two other terms for commercial revenue. Interest, royalties, and other fees are sources of income for some businesses.
The basic definition of revenue is the entire amount of money received by a business from its operations, measured over a predetermined period of time. Before deducting any expenses, a company's revenue is its gross income. Revenue, which is the money made from sales and/or services provided, is defined by profits and total earnings.
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the problem of investment managers taking offsetting active positions is most likely addressed by employing: a) risk budgeting. b) tactical asset allocation.
The problem can be addressed by core satellite approach
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which of the following is considered a fraudulent activity? group of answer choices a mistake in gathering or processing accounting data from which financial statements are prepared. an incorrect accounting estimate arising from oversight or misinterpretation of facts. misappropriation of assets. a mistake in the application of accounting principles relating to amount, classification, manner of presentation, or disclosure.
Misappropriation of assets is considered as a fraudulent activity in terms of accounting , which is option c of the given questions.
What purpose do accounts provide as a means?Gathering and presenting financial information on a company's operations, finances, and cash flows is the aim of accounting. After that, decisions are made based on this information regarding how to run the business, make investments in it, or give credit to it.
What makes accounting records so important to businesses?Accounting is crucial to running a business because it makes it simpler to keep track of income and expenses, ensures legal compliance, and provides access to quantitative financial data that can be used by investors, management, and the government to make decisions.
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the lemma company manufactures and sells 10 products. ways have been found to cut both the setup and inventory holding costs in half. what effect will this have on the economic order quantities of the 10 products?
The Lemma Company manufactures and sells 10 products. Ways have been found to cut both the setup and inventory holding costs in half. They will have no effect on the economic order quantities of the 10 products as they will not change.
The economic order is the way in which the allocation of inventory is organized within a society. This can be done through a variety of means, such as the market, central planning, or other mechanisms.
A well-functioning market economy is essential for the prosperity of any society. It enables businesses to thrive and provides people with the opportunity to improve their standard of living.
Hence the correct option is (B) They will not change.
The question is incomplete, the complete question is:
The Lemma Company manufactures and sells 10 products. Ways have been found to cut both the setup and inventory holding costs in half. What effect will this have on the economic order quantities of the 10 products?
A) They will be reduced by a factor of 1.41.
B) They will not change.
C) They will be reduced by a factor of 2.00.
D) They will be increased by a factor of 1.41.
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if suppliers were to be rated on the following basis, what would be the ranking of the two suppliers listed?
A person, business, or organization that sells or provides goods or equipment to customers is a supplier.
What is an illustration of a supplier?A person, company, or other entity that provides goods or services to another entity is a supplier. One example of a supplier is a business that sells PCBAs to OEMs or laptop manufacturers.
Rank of Supplier A = (7*8+5*9+4*5+1*8)/(7+5+4+1) = 56+45+20+8/17 = 129 Rank of Supplier B = (7*9+5*5+4*7+1*4)/17 = 63+25+28+4/17 = 120 Rank of Supplier C = (weight of function*rating+ weight of cost*rating+weight of technical assistance*rating+weight of credit terms*rating
Weight A's ratings B's ratings B's ranking (weight *rating) Function 7 8 9 56 63 Cost 5 9 5 45 25 Technical assistance 4 5 7 20 28 Credit terms 1 8 4 8 4 Total rank 129 120
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Full Question = If suppliers were to be rated on the following basis, what would be the ranking of the two suppliers listed?
Rating of Suppliers Ranking of Suppliers
Factor Weight Supplier A Supplier B Supplier A Supplier B
Function 7 8 9
Cost 5 9 5
Technical Assistance 4 5 7
Credit Terms 1 8 4
Why do they recommend making some payments on unsubsidized loans while you’re still in college?.
It is recommended to make some payments on unsubsidized loans while still in college because it can help prevent the principal from accumulating (as interest is added to the principal amount) while an individual is in school.
Unsubsidized loans are loans given to undergraduate and graduate students that are not based on financial need. Its eligibility is established the by cost of attendance minus other financial aid. In such loans, the interest is charged with the loan disbursement i.e., during in-school, deferment, and grace periods. The interest on an unsubsidized loan is added to the loan balance each year and by making some payments on the outstanding balance reduces the amount of interest that will be capitalized. An unsubsidized student loan is not subsidized by the federal government.
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what is the chief advantage of using each of the following contact methods: mail questionnaire, telephone interview, and personal interview?
The chief advantage of the following contact methods are listed below.
(a) Personal Interviews - Highest response rate.
(b) Mailing Questionnaire - Least expensive. and helpful only method to reach remote areas.
(c) Telephones - Relatively less influence on respondents.
Contact method
Contact methods defines the way of interviewer communicates with the respondent.
Given,
Here we need to find the chief advantage of using each of the following contact methods:
1) mail questionnaire,
2) telephone interview, and
3) personal interview
While we looking into the given question, the chief advantage of each contact method mentioned is
(1) mail questionnaire - best way to reach people who would not give personal interviews or whose responses might be biased or distorted by the interviews,
(2) telephone interviews - best method for gathering information quickly and the interviewer is also able to clarify questions if respondents do not understand them, and
(3) personal interview - most versatile method because they can ask more questions and record additional observations about the respondent.
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The management function that involves creating a vision for the organization, communicating it to others, and motivating them to achieve goals is.
The management function that involves creating a vision for the organization, communicating it to others, and motivating them to achieve goals is leading.
Leading can be described as one of the primary important functions of management.
A leader is a person who can effectively form a set of goals or objectives of a company. He knows how to communicate with the employees and express the goals to the employees. A leader with a leading quality will also be able to motivate the employees to work harder in order to achieve the set goals.
Leading quality also includes the ability to assess the functioning of the departments of the company and to organize the workflow of the employees.
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lgcc enterprises is considering introducing a new cell phone, the x-7. they estimate they will sell 10,000 x-7s next year at a retail price of $590. of the 10,000 x-7 sales, 3,000 would be from customers that would have purchased lgcc's current x-6 model, which retails for $350. what incremental sales revenue should lgcc use in their analysis of the x-7?
The incremental sales revenue that should lgcc used in their analysis of the x-7 is 4,050,000
According to the given question and given data,
Next year sales = 10000*510 = 5100000
Previous year sales = 3000*350 = 1050000
Incremental sales = 5,100,000-1,050,000 = 4,050,000
Incremental sales measure the efficiency of a marketing or sales promotion campaign. The difference between the sales made during a promotion and the sales you would have made if there would have been no promotion. Incremental sales in business means a gradual increase which can increase depending on ad expenditure and all.
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One possible solution to a diminishing social security payroll is to increase the social security tax by 1.89%. how would such an increase effect the tax on an annual salary of $54,000? a. annual tax would increase by $1,020.60. b. annual tax would increase by $2,327.40. c. annual tax would increase by $3,348.00. d. annual tax would increase by $4,368.60. please select the best answer from the choices provided a b c d
If the social security tax increase by 1.89%, the annual tax would increase by $1,020 on an annual salary of $54,000.
To solve the diminishing social security payroll the social security tax increases which will result in an increase in the annual tax on salary. This is calculated as
Increase in Annual Tax=Salary × increase in social security tax
From the question we have
The salary which is equal to $54,000
the social security tax increase by 1.89%,
Increase in Annual Tax=$54,000 × 1.89%,
=$1,020.60
Therefore, the correct option is (a) annual tax would increase by $1,020.60.
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a product design team is meeting with companies who will be supplying custom made plastic parts. the design team is requiring that each piece received from suppliers has to be labeled or embossed with a symbol or number identifying the type of plastic (pet, hdpe, pvc) from which the component is made. which design practice does the team seem to be concerned with?
Labeling is a design practice that the team seems to be concerned with.
The design team is requiring that each piece received from suppliers has to be labeled or embossed with a symbol or number identifying the type of plastic (PET, HDPE, PVC) from which the component is made.
PET means polyethylene terephthalate. It is a type of plastic which is used most widely used. All our packaged food and packaged drink containers are made up of PET as it does not let oxygen in and spoil the food. It is a type of recycled plastic.
HDPE means High-Density Polyethylene. It is used for milk jugs, grocery bags, pipes, shampoo bottles, lids, etc. It is much stronger and harder than PET.
PVC means Polyvinyl chloride. It is used in construction to produce door and window profiles.
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the downward-sloping line that represents the negative or inverse relationship between the rate of inflation and the unemployment rate in the short run is called:
A downward sloping line that represents a negative or inverse relationship between the inflation rate and the unemployment rate in the short run is called the Phillips Curve.
The Phillips curve illustrates the negative relationship between inflation and unemployment. By expanding aggregate demand, policymakers can choose the point on the Phillips curve with lower inflation and unemployment. With an aggregate demand contract, policymakers can choose the point on the Phillips curve with low inflation and high unemployment. The tradeoff between inflation and unemployment described by the Phillips curve is more likely to work only in the short run. The long-run Phillips curve is vertical to the natural rate of unemployment.
The short-run Phillips curve also shifts due to aggregate supply shocks. Shocks provide a less favorable policy tradeoff between inflation and unemployment. When the Fed contracts growth in the money supply to reduce inflation, the economy moves along the short-run Phillips curve.
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dr. rick torres runs a chiropractic clinic. he typically bills his customers for services he performs and gives them about 30 days to make the payments. these amounts of money that his customers owe are called
Dr. Rick Torres runs a chiropractic clinic. he typically bills his customers for services he performs and gives them about 30 days to make the payments. these amounts of money that his customers owe are called accounts receivable.
What are accounts receivable.?Generally, The term "accounts receivable," also known as "AR" or "A/R," refers to a company's legally enforceable claims for payment for goods supplied or services provided that customers have ordered but haven't paid for.
Customers' outstanding debts for products or services they have received but haven't yet paid for are referred to as accounts receivable. For instance, the amount owing when clients buy things on credit is added to the accounts receivable.
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the price of imported oil decreased in 2001. how did this affect the aggregate supply curve? it became steeper. it shifted outward. it shifted inward. it became flatter.
The shift inward and flattening of the aggregate supply curve that results from rising money salaries is the most notable effect.
Therefore, an increase in the cash salary fee reduces combination delivery. The effect of a change inside the cash salary charge is depicted . Combination deliver is reduced by an increase in the cash wage fee, and the combination deliver curve changes to the left from ASO to AS2. An increase in the cash wage rate no longer affects the capacity of GDP. As productivity rises or the cost of essential inputs declines, the combination delivery curve shifts to the right, making a combination of lower inflation, higher production, and lower unemployment conceivable.
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the market portfolio's historical returns for the past three years were 10 percent, 10 percent, and 16 percent. suppose the risk-free rate of return is 4 percent. estimate the market risk premium.
The market risk premium is 8%
Average market return = Sum of returns/number of returns
The risk-free rate of return = 0.04
The market risk premium is the excess return over the risk-free rate or we can say the difference between market return and the risk-free rate of return. The difference between the anticipated return on a market portfolio and the risk-free rate is known as the market risk premium (MRP).
Market risk premium = Average market return - Risk-free rate of return
Market risk premium = [(0.10 + 0.10 + 0.16) / 3] - 0.04
Market risk premium = (0.36 / 3) - 0.04
Market risk premium = 0.12 - 0.04
Market risk premium = 0.08
Market risk premium = 8%
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explain the concepts of (product-specific) economies of scale and economies of scope as an entry barrier.
The average total cost of production of a variety of items is the topic of economies of scope. Economies of scale, on the other hand, concentrate on the resulting cost advantage.
What is cost advantage?A business has a cost advantage when it can produce a good or offer a service for less money than its rivals. These businesses produce more in greater quantities and gain from one or more of the following factors: low-cost raw material access, effective processes and technologies, low distribution and sales costs, effectively managed operations.
The other two are offer advantage (adding value to a good or service through special features) and niche advantage. Cost advantage is one of the three ways a business can develop a competitive advantage. An organization is in a good position to increase market share and profitability if it excels in at least one of these areas while remaining competitive in the other two.
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you are considering buying some stock in continental grain. which of the following is an example of nondiversifiable risk?
The following is an example of non-diversifiable risk C. Risk resulting from a general decline in the stock market.
Berkshire Hathaway is the world's maximum pricey stock. one of the main reasons why the company's inventory is so luxurious is as it never went through an inventory split. The corporation's CEO, Warren Buffet, intentionally decided towards a cut-up to save you short-time period buying and selling which might result in higher volatility.
Traders should not allow the bears to scare them out of taking benefit of selloffs, but they also shouldn't chase profits when there may be loads of marketplace power. ultimately, 2022 may be a good enough yr for the marketplace return standard, just no longer as robust as what we've got visible in the last few years.
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roger, a human resources manager, is giving a speech to a batch of new employees during their day of orientation. roger wants them to feel welcome and enthusiastic about working for the company, so as he speaks, he smiles broadly and moves around the room energetically. how effective is roger's use on nonverbal communication? effective, because at least two forms of nonverbal communication should be used at all times. ineffective, because his movement is likely to distract his audience from his message. ineffective, because his facial expressions are not suitable for his purpose. effective, because his facial expressions and movement are appropriate for the tone and setting of his speech.
Roger's use of nonverbal communication is an option (d) Effective because his facial expressions and movement are appropriate for the tone and setting of his speech.
Nonverbal communication is the exchange of messages or signals through nonverbal cues including body language, gestures, and nonverbal cues like eye contact and facial expressions. It makes use of kinesics, distance, physical environments/appearance, voice, and touch in addition to social cues.
Encoding and decoding are conscious and unconscious processes used in nonverbal communication. The ability to convey emotions in a form that the recipient can understand is known as encoding.
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in comparative advertising, a company cannot be held liable for misrepresentations regarding products other than its own. group of answer choices true false
'in comparative advertising, a company cannot be held liable for misrepresentations regarding products other than its own.
This statement is false.
Comparative or combat advertising is advertising that specifically mentions the name of a competitor for a particular product or service, clearly stating why the competitor is inferior to the product named after it. Comparative advertising is a marketing strategy that presents a company's products or services as superior to those of its competitors. Comparative advertising campaigns may include print direct comparisons of the features of one company's products to those of its competitors.
Comparative advertising is an advertising strategy used by brands to promote their products, making their products look better than those of their competitors. "Now eat without feeling guilty. Our burgers have 80% fewer calories than McDonald's. ” This message shows that the brand's products are superior.
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if hot dogs are an inferior good, an increase in income will result in a an increase in the quantity demanded for hot dogs. b a decrease in the quantity demanded for hot dogs. c an increase in the demand for hod dogs. d a decrease in the demand for hot dogs. e no change in the quantity demanded for hot dogs.
If hot dogs are an inferior good, an increase in income will result in an increase in the demand for hot dogs. so the option is c
Are hot dogs a normal or inferior good?Hot dogs are inferior good . The demand for a typical good is positively correlated with income. This implies that people will spend more on everyday things when they have more money.In addition to their mouthwatering flavor, hot dogs are a favorite among many people due to their simplicity in preparation. They take little time to cook and can be grilled or fried. They are a fantastic quick fix when you are hungry because of these. You won't have to wait very long to have a mouthful whenever you want to enjoy them as snacks.To learn more about inferior good refer to:
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a successor auditor is required to make an effort to communicate with the predecessor auditor prior to:
A successor auditor is required to make an effort to communicate with the predecessor auditor prior to Performing a test of controls.
The successor auditor is responsible for taking the initiative in communication. The communication could be verbal or written. Information received from the predecessor auditor and the successor auditor should be kept confidential. Whether or not the replacement auditor accepts the engagement, this obligation still stands.
The phrase "successor auditor" refers to an auditor who has taken such an assignment and is considering accepting one but has not yet been in touch with the predecessor auditor. An auditor should hold off on accepting an engagement until all necessary SAS No.
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despite two years when overall prices fell, share prices in the stock market have risen consistently for eight of the past 10 years. how is this market classified? a.) primary bull market b.) secular bear market c.) primary bear market d.) secular bull market
Bull markets typically occur when the economy is growing or is already growing. They will frequently occur concurrently with a rise in corporate profits and coincide with strong GDP and a decrease in unemployment.
How Does a Bull Market Work?
A financial market in a bull market is one in which prices are rising or are expected to rise. The stock market is most frequently referred to as a "bull market," but the term can also be used to describe anything that is traded, including bonds, real estate, currencies, and commodities.
The term "bull market" typically refers to extended periods during which a significant portion of the price of a security is rising. This is due to the fact that the price of securities fluctuates almost continuously during trading.Bull markets typically last for a number of months or even years.
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