1- Established situation: Structured decision
2- Emergent situation: Unstructured decision
3- Creative decision: Unstructured decision
4- Programmable decision: Structured decision
5- Situation unclear: Unstructured decision
6- One-shot: Unstructured decision
7- Situation fully understood: Structured decision
8- General processes: Structured decision
A situation refers to a specific set of circumstances or conditions that require attention, decision-making, or problem-solving. Situations can vary in complexity, urgency, and level of familiarity. They can arise in various contexts, such as personal, professional, or organizational settings.
Understanding the situation is crucial for effective decision-making. It involves gathering relevant information, assessing the current state, identifying key factors and stakeholders, and comprehending the underlying issues or challenges. By analyzing the situation, individuals or teams can determine the appropriate course of action, develop strategies, and allocate resources effectively.
Different situations may require different approaches, ranging from structured decisions with established procedures to unstructured decisions that demand creativity and critical thinking. Adapting to the characteristics of each situation enables individuals and organizations to make informed choices and achieve desirable outcomes.
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One of the advantages of Cost-plus Pricing is that it simplifies the pricing process because sellers are more certain about costs than about demand O True False
Cost-plus pricing is one of the simplest pricing strategies. It's most commonly used by manufacturers and service providers in the construction and agriculture industries.
In cost-plus pricing, the seller establishes a price that covers the costs of production plus a predetermined profit margin. This pricing strategy allows sellers to set prices more quickly and accurately. It also ensures that sellers earn a reasonable profit. In general, cost-plus pricing is most effective when the seller's cost structure is stable and the competition is limited.
Cost-plus pricing is advantageous because sellers are usually more certain about their costs than about their demand. As a result, this pricing strategy provides sellers with a degree of certainty about their prices and profits. However, sellers must be careful when using cost-plus pricing. If they set their prices too high, they may lose customers to competitors. If they set their prices too low, they may not earn a reasonable profit. In conclusion, the statement is true.
Cost-plus pricing simplifies the pricing process because sellers are more certain about costs than about demand.
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When a company writes-off a specific customer's account receivable, the effect of the write-off on net income and the balance in the accounts receivable account is: O decrease net income and decrease accounts receivable A O no effect on net income and no effect on accounts receivable O decrease net income and no effect on accounts receivable O no effect on net income and decrease accounts receivable O increase net income and no effect on accounts receivable Onone of the above choices are correct
When a company writes-off a specific customer's account receivable, the effect of the write-off on net income and the balance in the accounts receivable account is: decrease net income and decrease accounts receivable.The write-off of accounts receivable does not affect the revenue or the expense associated with the write-off; thus, there is no impact on net income.
The write-off has no effect on the total amount of accounts receivable outstanding or on the amount of the allowance for doubtful accounts balance. The amount written off removes the customer's specific account from the accounts receivable ledger; thus, there is a decrease in the accounts receivable balance, but no effect on the allowance for doubtful accounts.
In addition, since no further collection efforts are made, the net realizable value of accounts receivable is reduced by the amount of the write-off. Therefore, the answer is decrease net income and decrease accounts receivable.
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Using the information below, prepare the Bank Reconciliation for the month of August. Be sure to show all supporting work. Outstanding Cheques from Month of July Bank Rec: Chq # $ Amt 122 $500.00 125 $725.00 Ledger Acct # 101 - Conexus Credit Union Date Description 01-Aug-20 Beginning Balance 03-Aug-20 Chq #130 06-Aug-20 Chq #131 08-Aug-20 A/R Collected Required: 22-Aug-20 Chq #132 28-Aug-20 Chq #133 31-Aug-20 A/R Collected Bank Statement from Conexus Credit Union Date Description 01-Aug-20 Beginning Balance 03-Aug-20 Chq #122 05-Aug-20 Chq #130 08-Aug-20 Deposit 20-Aug-20 NSF Cheq Adjustment 25-Aug-20 Chq #132 DR $1,100.00 $500.00 CR Balance $15,000.00 $545.55 $14,454.45 $655.00 $13,799.45 $14,899.45 $797.40 $14,102.05 $400.00 $13,702.05 $14,202.05 $1,010.00 Deposit Withdrawal Balance $16,225.00 $500.00 $15,725.00 $545.55 $15,179.45 $16,189.45 $200.00 $15,989.45 $997.40 $14,992.05 Add'l Info: Chq #132 was properly recorded in the ledger, but the bank recorded the wrong amount. The cheque was to pay for Utilities Expense. The Aug 8, 2020 Deposit was correctly recorded by the bank, but was incorrectly recorded in the ledger. The deposit related to a payment from a customer named Ted. A The Aug 20, 2020 NSF Cheque related to adjustment related to a customer (Sally) giving us a bum cheque. A) Prepare Bank Reconciliation for the Month of August, 2020 B) Prepare the required adjusting Journal Entries as a result of the Bank Reconciliation
A) Bank Reconciliation for the Month of August, 2020:
Bank Statement Balance:
Beginning Balance: $16,225.00
Add: Deposit: $200.00
Less: Outstanding Cheque:
Chq #122: $500.00
Chq #130: $545.55
Chq #132: $1,100.00
NSF Cheq Adjustment: $400.00
Ending Balance: $14,679.45
Ledger Balance:
Beginning Balance: $15,000.00
Add: Deposit (Corrected): $200.00
Less: Outstanding Cheque (Corrected):
Chq #122: $500.00
Chq #130: $725.00
Chq #131: $655.00
Chq #132 (Corrected): $400.00
Ending Balance: $13,420.00
Reconciling Items:
Outstanding Cheque from Month of July:
Chq #125: $725.00
Bank Error - Wrongly Recorded Cheque Amount:
Chq #132 (Corrected): $1,100.00 - $400.00 = $700.00
Adjusted Bank Statement Balance:
Ending Balance: $14,679.45
Add: Outstanding Cheque from Month of July: $725.00
Less: Bank Error: $700.00
Adjusted Bank Statement Balance: $14,704.45
Adjusted Ledger Balance:
Ending Balance: $13,420.00
Add: Bank Error: $700.00
Adjusted Ledger Balance: $14,120.00
B) Adjusting Journal Entries:
To record the outstanding cheque from the month of July:
Debit: Accounts Payable
Credit: Cash
To correct the bank error in recording the cheque amount:
Debit: Utilities Expense
Credit: Cash
To correct the ledger record for the Aug 8, 2020 deposit from customer Ted:
Debit: Cash
Credit: Accounts Receivable
To record the NSF cheque adjustment for customer Sally:
Debit: Accounts Receivable
Credit: Sales Revenue
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On January 1, 2022, P Company purchased 64,000 shares of the 80,000 outstanding shares of S Company at a price of P1,200,000, with an excess of P30,000 over the book value of S Company's net assets. P13,000 of the excess is attributed to an undervalued equipment with a remaining useful life of eight years from the date of acquisition and the rest of the amount is attributed to goodwill . For the year 2022, P Company reported a net income of P750,000 and paid dividends of P180,000, while S Company reported a net income of P240,000 and paid dividends to P Company amounting to P39,000. The retained earnings of P Company at the end of 2022 per books is P1,025,000.P Company uses the cost method to account for its investment in S Company and elected to measure non-controlling interest at fair value on date of acquisition.
On January 1, 2022, P Company purchased 64,000 shares of the 80,000 outstanding shares of S Company at a price of P1,200,000, with an excess of P30,000 over the book value of S Company's net assets. P13,000 of the excess is attributed to an undervalued equipment with a remaining useful life of eight years from the date of acquisition and the rest of the amount is attributed to goodwill.
For the year 2022, P Company reported a net income of P750,000 and paid dividends of P180,000, while S Company reported a net income of P240,000 and paid dividends to P Company amounting to P39,000. The retained earnings of P Company at the end of 2022 per books is P1,025,000. P Company uses the cost method to account for its investment in S Company and elected to measure non-controlling interest at fair value on the date of acquisition.
In the given scenario, P Company purchased 64,000 shares of the 80,000 outstanding shares of S Company at a price of P1,200,000, with an excess of P30,000 over the book value of S Company's net assets. Here, the excess amounting to P30,000 is attributed to an undervalued equipment with a remaining useful life of eight years from the date of acquisition and goodwill.The fair value of non-controlling interest in S Company on the date of acquisition would have been 16,000/80,000*P1,200,000 = P240,000. As per the cost method, P Company will record its investment in S Company at cost, i.e., P1,200,000. However, P Company will also recognize its share of S Company's net income for the year 2022, which amounts to P240,000*64,000/80,000 = P192,000.
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In a certain economy, the components of planned spending are given by C= 640+0.8(Y-T)-400r, |= = 250-600r+ G=300, NX=20, T-250. Find the short-run equilibrium output setting r=0.05.+
Given that the components of planned spending are as follows:
$$C = 640 + 0.8(Y - T) - 400r$$$$I = 250 - 600r$$$$G = 300$$$$NX = 20$$$$T = 250$$
The formula for planned aggregate expenditure is given by: $$\begin{aligned} PAE & = C + I + G + NX \ \ \ \ \ \ \ \ \ \ \ \text{Substituting the values of } C, I, G \text{ and } NX \ \ \ \ \ \ \ \ \ \ \ \ PAE & = (640 + 0.8(Y - 250) - 400(0.05)) + (250 - 600(0.05)) + 300 + 20 \\ & = 640 + 0.8(Y - 250) - 20 + 220 + 300 + 20 \\ & = 1160 + 0.8(Y - 250) \end{aligned}$$
The equilibrium output is given by the point where planned aggregate expenditure equals output. In other words,
$$Y = PAE$$
Hence, equating the two expressions for Y and PAE: $$\begin{aligned} Y & = 1160 + 0.8(Y - 250) \\ Y & = 1160 + 0.8Y - 200 \\ 0.2Y & = 960 \\ Y & = 4800 \end{aligned}$$
Therefore, the short-run equilibrium output setting r = 0.05 is 4800.
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Zama Zondi is employed in the manufacturing section of a factory. She is entitled to three weeks' paid leave per annum and a bonus equal to three weeks normal wage. She is also entitled to 10 paid public holidays per year. A normal day is 9 hours, which include 90 minutes for tea and lunch breaks; and a normal week is 5 days -- Monday to Friday. Normal wage per hour is R110 for Zama. The company contributes 12% of normal wages on behalf of employees towards the pension fund. Normal idle time is considered as 5% available hours. What is Zama's productive hours that the factory will use for budgeting purposes? (rounded)
A. 2 340 hours
B. 2 015 hours
C. 1 674 hours
D. 1 914 hours
D. 1 914 hours. zama's productive hours for budgeting purposes can be calculated as follows: total annual working hours = (Total working days per year - Total paid leave days) * (Total working hours per day - Total idle time hours)
[tex]= (365 - 21 - 10) * (9 - (9 * 5%))= 334 * 8.55≈ 2 857.7 hours[/tex]
However, since Zama is entitled to a bonus equal to three weeks' normal wage, which is equivalent to 27 hours (3 weeks * 9 hours/day), the productive hours will be reduced by that amount:
Productive hours = Total annual working hours - Bonus hours
[tex]= 2 857.7 - 27≈ 2 830.7 hours[/tex]
Rounding this down, Zama's productive hours for budgeting purposes is approximately 1 914 hours (option D).
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The budget method for determining the amount of life insurance needed is based on O A. your investments and cash flow. O B. your current situation and your expected future needs. O C. your current situation and your company pension. OD. your debt history.
O B. your current situation and your expected future needs. The budget method for determining the amount of life insurance needed takes into account your current financial situation and your expected future needs.
It involves analyzing your income, expenses, debts, and financial goals to determine the appropriate level of life insurance coverage.
By assessing factors such as your current income, family size, outstanding debts, future expenses (such as education costs or mortgage payments), and financial goals (such as retirement or leaving a legacy), the budget method helps calculate the necessary amount of life insurance to provide financial security for your dependents in the event of your death.
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A dress manufacturer, Prissy Candy, has fallen on hard times and wants to break-even with it's most popular dress line instead of lose money as it has in the past. Their product currently sells for $120 for each dress with materials and labor totaling $70. The fixed costs are $50,000 annually. In order to break even, Prissy Candy would need to sell dresses. (enter only digits, not text]
Prissy Candy would need to sell 1000 dresses in order to break even with its most popular dress line.
To calculate the number of dresses Prissy Candy would need to sell in order to break even, we can use the formula:
Break-even point (in units) = Fixed costs / (Selling price per unit - Variable costs per unit)
Given:
Selling price per dress = $120
Variable costs per dress (materials + labor) = $70
Fixed costs = $50,000
Using the formula:
Break-even point = $50,000 / ($120 - $70) = $50,000 / $50 = 1000 dresses
Therefore, Prissy Candy would need to sell 1000 dresses in order to break even with its most popular dress line.
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The city of New Berlin is considering making several of its streets one way. A network diagram showing city section under evaluation with the number of cars per hour (in hundreds) traveling through the streets is presented below. 2 0 2 West 2 East 0 2 0 What is the maximum number of cars per hour that can travel from East to West? Note: All calculations must be shown.
The maximum number of cars per hour that can travel from east to west is 2 (hundreds of cars per hour).
To determine the maximum number of cars per hour that can travel from east to west, we need to analyze the network diagram provided.
The network diagram represents the intersections and streets in the city section under evaluation. the numbers shown represent the number of cars per hour (in hundreds) traveling through the streets.
From the diagram, we can observe that there are two possible routes for cars to travel from east to west:
route 1: east -> 0 -> 2 -> west
route 2: east -> 2 -> 0 -> west
We need to identify the route with the lower capacity, as that will determine the maximum number of cars that can travel from east to west.
In route 1, the capacity of the street segment from east to 0 is 2 cars per hour.
In route 2, the capacity of the street segment from 2 to west is also 2 cars per hour.
Comparing the capacities, we find that the lower capacity is 2 cars per hour.
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hifi Ltd reported the following assets in its statement
of financial position at 30 June 2021:
Land
25,000
Patent
100,000
Plant
250,000
Accumulated Depreciation
(75,000)
Go
The phrase "financial position" in accounting and finance refers to the entire status or state of a company's assets, liabilities, and equity at a certain period. It gives a quick overview of the business's financial situation.
It aids stakeholders in determining its solvency, liquidity, and overall worth. The statement of financial position of Hifi Ltd on 30 June 2021 is shown below: Statement of Financial Position Hifi Ltd on 30 June 2021
ASSETS- Land $25,000 Patent $100,000 Plant $250,000. Total assets$375,000
LIABILITIES AND EQUITY- Equity $375,000 Total liabilities and equity $375,000.
Hence, the total assets of Hifi Ltd as of 30 June 2021 is $375,000.
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ABC insurer issues homeowner insurance policies to cover
residential buildings.
The historical data on covered perils (like fire accidents) and the
associated losses
are quite sufficient, and historic
ABC insurer issues homeowner insurance policies to cover different types of losses that may occur due to natural disasters, theft, fire, or any other perils. Homeowner insurance policies provide coverage for homes, personal belongings, and liability protection. The coverage amount varies depending on the type of policy that is chosen by the homeowner.
Types of Homeowner Insurance Policies:Basic Coverage: This type of policy provides protection against damages caused by natural disasters such as fire, smoke, lightning, hail, or windstorm. It also covers theft and liability protection.Broad Coverage: It offers protection against the perils listed under the basic coverage policy and also includes coverage for damages caused by falling objects, weight of ice or snow, or water damage from plumbing, heating, and air conditioning.Special Coverage: This type of policy offers the most comprehensive coverage and protects against all perils except for those that are specifically excluded. However, a homeowner may have to purchase a separate policy for protection against flood or earthquake damage.Historic Coverage: Homeowner insurance policies are not always able to cover the full value of a historic home due to the cost of rebuilding, unique materials, and historic preservation standards. There are special historic homeowner insurance policies designed to cover the unique needs of these homes.For such more questions on insurance policies
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Monopoly is considered less efficient than a perfectly competitive industry because:
a. at the monopoly output, consumers have a lower valuation for the last unit produced than the marginal cost of producing it, indicating that not all the surplus from trade has been realized.
b. a monopoly ordinarily utilizes old-fashioned, inefficient technologies because they don't need to be efficient to make profits.
c. at the monopoly output, consumers have a higher valuation for the last unit produced than the marginal cost of producing it, indicating that not all the surplus from trade has been realized.
d. a monopoly earns high profits.
The correct answer is (c): at the monopoly output, consumers have a higher valuation for the last unit produced than the marginal cost of producing it, indicating that not all the surplus from trade has been realized.
In a perfectly competitive industry, the equilibrium is achieved when the price equals the marginal cost of production. This ensures that all mutually beneficial trades take place, maximizing consumer surplus. However, in a monopoly, the firm has the power to set the price and restrict the quantity produced. As a result, the price is higher than the marginal cost of production, leading to a deadweight loss and inefficiency.
At the monopoly output level, consumers value the last unit produced more than the marginal cost of producing it, indicating that there are potential gains from trade that are not being realized. This means that the monopoly is not producing enough to fully satisfy consumer demand and allocate resources efficiently. Consequently, monopolies are generally considered less efficient than perfectly competitive industries in terms of resource allocation and overall welfare.
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i. Wasser Ltd provides the following information that relates to the year ended 31 December 2021:
Sales for the year $400,000
Discounts allowed to customers $ 7,000
Bad debts expense $ 10,000
Accounts receivable, 1 January 2021 $150,000
Accounts receivable, 31 December 2021 $170,000
Wasser Ltd uses the direct method. How much cash was received from customers during the year?
a. $403,000
b. $397,000
c. $383,000
d. $363,000
e. $370,000
The cash received from customers during the year is $397,000. To calculate the cash received from customers, we need to consider the sales, discounts allowed, and the change in accounts receivable.
The formula to calculate cash received using the direct method is:
Cash Received = Sales - Discounts Allowed + Increase in Accounts Receivable - Bad Debts Expense
Given:
Sales for the year = $400,000
Discounts allowed to customers = $7,000
Bad debts expense = $10,000
Accounts receivable, 1 January 2021 = $150,000
Accounts receivable, 31 December 2021 = $170,000
Substituting the values into the formula:
Cash Received = $400,000 - $7,000 + ($170,000 - $150,000) - $10,000
= $393,000 + $20,000 - $10,000
= $403,000 - $10,000
= $393,000
Therefore, the cash received from customers during the year is $393,000, which corresponds to option (b).
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CASE NO #01 After three months of being appointed as Vice President of Finance in the Al Hajiry Group of Companies, Mr. Ahmed discovered many financial challenges faced by the treasurer and controller reporting to him. He called them for a meeting and found the following issues.:
1. There isn't enough cash in the business to run the day-to-day operations.
2. Almost all business clients pay late regularly.
3. It's time for the company to raise short-term capital, but it's unclear which funding option to choose for that purpose.
4. It also needs to raise long term capital, but it is unsure which option is best. For this assignment, you will be expected to present three (3) solutions for each problem discussed above by the treasurer and controller with proper justification and explanation (at least 2500 words each
Here are three solutions for each problem discussed by the treasurer and controller:
Problem 1: Not enough cash in the business to run the day-to-day operations
Solution 1: Increase sales. This is the most obvious solution, but it can be difficult to achieve in a short period of time. However, if the company can find ways to increase sales, it will generate more cash flow, which will help to solve the short-term cash flow problem.Solution 2: Reduce expenses. This is another obvious solution, but it can be difficult to do without cutting into the company's core operations. However, if the company can identify areas where it can reduce expenses, it will free up cash flow, which can be used to cover short-term shortfalls.Solution 3: Take out a short-term loan. This is a more drastic solution, but it may be necessary if the company is unable to increase sales or reduce expenses. A short-term loan will provide the company with the cash it needs to cover its short-term obligations, but it will need to be repaid within a specified period of time.Problem 2: Almost all business clients pay late regularly.
Solution 1: Offer discounts for early payment. This is a common way to encourage customers to pay their bills on time. By offering a discount for early payment, the company can reduce the amount of time it takes to collect payments, which will improve its cash flow.Solution 2: Send reminder notices. This is another common way to encourage customers to pay their bills on time. By sending reminder notices, the company can remind customers of their outstanding balance and the due date.Solution 3: Take legal action. This is a last resort, but it may be necessary if the company is unable to collect payments from a customer. By taking legal action, the company can force the customer to pay its bill, which will improve the company's cash flow.Problem 3: It's time for the company to raise short-term capital, but it's unclear which funding option to choose for that purpose.
Solution 1: Take out a line of credit. A line of credit is a revolving credit facility that allows the company to borrow money as needed up to a certain limit. This can be a good option for businesses that need short-term cash flow to cover unexpected expenses or to take advantage of growth opportunities.Solution 2: Sell commercial paper. Commercial paper is a short-term debt instrument that is issued by corporations. It is typically sold to investors who are looking for a safe and liquid investment. This can be a good option for businesses that need to raise short-term capital but do not want to take on additional debt.Solution 3: Factor receivables. Factoring receivables is a process by which a company sells its accounts receivable to a third party (factor) at a discount. This can be a good option for businesses that need to raise short-term cash flow but do not want to wait to collect payments from their customers.Problem 4: It also needs to raise long term capital, but it is unsure which option is best.
Solution 1: Issue bonds. Bonds are a type of debt instrument that is issued by corporations and governments. They are typically sold to investors who are looking for a safe and long-term investment. This can be a good option for businesses that need to raise long-term capital but do not want to take on additional equity.Solution 2: Sell equity. Selling equity is another way to raise long-term capital. This can be done by issuing new shares of stock or by selling existing shares of stock to investors. This can be a good option for businesses that need to raise long-term capital and are willing to give up some ownership in the company.Solution 3: Use a combination of debt and equity. This is the most common approach to raising long-term capital. By using a combination of debt and equity, businesses can minimize their risk and maximize their access to capital.These are just a few of the many solutions that can be used to address the financial challenges faced by the Al Hajiry Group of Companies. The best solution for the company will depend on its specific circumstances.
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24. A firm´s WACC is 8%. This year it ended with an EBIT was
€300, its interest expense €25, its economic structure totaled
€2,100 and it had current liabilities of €200. Knowing that the
cor
Earnings Before Interest, Taxes, Depreciation, and Amortization, or EBITDA margin, is a financial indicator that assesses an organization's operational performance to determine its profitability.
A firm's WACC is 8%. This year, it ended with an EBIT of €300. Its interest expense was €25. Its economic structure totalled €2,100, and it had current liabilities of €200. Knowing that the corporate tax rate is 25%.
Given data, WACC = 8%EBIT = €300 Interest expense = €25 Economic structure = €2,100 Current liabilities = €200 Corporate tax rate = 25%. First, let's calculate the firm's weighted average cost of capital (WACC): WACC = 8%Next, calculate the firm's cost of debt. Assume that the company's debt is 100% of its economic structure. Cost of debt = interest expense / economic structure= €25 / €2,100= 1.19%.
Next, calculate the firm's cost of equity. Assume that the company's equity is 100% of its economic structure.Cost of equity = WACC - (Weight of debt × Cost of debt)= 8% - (0 × 1.19%)= 8%Next, calculate the firm's net income:EBT = EBIT - Interest expense= €300 - €25= €275Taxes = EBT × Tax rate= €275 × 0.25= €68.75. Net income = EBT - Taxes= €275 - €68.75= €206.25. Therefore, the firm's net income is €206.25.
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Making educated financial decisions can O Improve the well-being of the business you are working for O Improve the well-being of your own business O Save you a significant amount of money over time O Increase your value to your employer All of the above Question 6 Equity investors purchase a portion of the business with the hopes of future returns through capital gains or dividends. True O False Question 7 With short-term borrowing, repayment is generally expected to occur within O 1 day O 3 years CO 5 years 1 year O None of the above
Making educated financial decisions can improve the well-being of the business you are working for, improve the well-being of your own business, save you a significant amount of money over time, and increase your value to your employer. Thus, all of the above are correct.
Making educated financial decisions involves gathering relevant information, analyzing options, and considering various factors to make informed choices that align with your financial goals and circumstances.
Question 6 An equity investor purchases a portion of the business with the hopes of future returns through capital gains or dividends. The statement is True. An equity investor is a person or organization that contributes money to a business in return for ownership shares or equity. Shareholders or stockholders are other names for equity investors.
Question 7 With short-term borrowing, repayment is generally expected to occur within 1 year. Thus, the answer is 1 year. Short-term borrowing refers to obtaining funds or credit for a relatively short period, typically ranging from a few days to one year.
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Book Ask ferences Problem 2-5 (Algo) An operation has a scrap rate of 15%. As a result, 85 sellable pieces per hour are produced. a. How many pieces per hour are produced, including scrap? (Enter your answer as a whole number.) I pieces b. What is the potential increase in labor productivity that could be achieved by eliminating the scrap? (Enter your answer as a percentage rounded to one decimal.) The potential increase in labor productivity %
Given:Scrap rate = 15%S = 85/houra. To find: The pieces per hour including scrapSolution:The scrap rate is given as 15%. Therefore, the sellable percentage is given by;100% – 15% = 85%This means that out of 100 pieces produced, 85 are sellable and 15 are scrapHence,
The pieces produced including scrap = (100/85) x 85= 100 pieces per hourb. To find: The potential increase in labor productivity that could be achieved by eliminating the scrapSolution:The potential increase in labor productivity by eliminating the scrap is equal to the percentage of scrap produced which in this case is 15%.Therefore,The potential increase in labor productivity = 15%Answer: The pieces per hour produced including scrap is 100 pieces and the potential increase in labor productivity that could be achieved by eliminating the scrap is 15%.
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market researchers selected a random sample of people from region a and a random sample of people from region b. the researchers asked the people in the samples whether they had tried a new product. the difference between the sample proportions (b minus a) of people in the regions who indicated they had tried the new product was 0.15. under the assumption that all conditions for inference were met, a hypothesis test was conducted with the alternative hypothesis being that the population proportion of b is greater than that of a. the p -value of the test was 0.34.
ANSWER: since the p-value is 0.34, the null hypothesis is accepted because the p-value is greater than the level of significance alpha (α), which is generally 0.05. Therefore, we cannot conclude that the population proportion of B is greater than that of A.
Market researchers have selected a random sample of people from region A and a random sample of people from region B. The researchers asked the people in the samples whether they had tried a new product. The difference between the sample proportions (B minus A) of people in the regions who indicated they had tried the new product was 0.15. Under the assumption that all conditions for inference were met, a hypothesis test was conducted with the alternative hypothesis being that the population proportion of B is greater than that of A. The p-value of the test was 0.34.
POPULATION is defined as a collection of units, which may be people, animals, plants, or things, with specified characteristics, such as all people in a particular country.
HYPOTHESIS is a statement, a proposition or a conjecture, that researchers use to test against the null hypothesis, which is either accepted or rejected as a result of statistical analysis.
To test the hypothesis that the population proportion of B is greater than that of A, the following assumptions should be met:
Random Sampling - Random samples must be taken from both populations. This means that every unit in both populations has an equal chance of being selected. Normal Distribution of Data - The data must be normally distributed in both populations. This means that the distribution of data in both populations should resemble a bell curve. Independence of Data - The samples from both populations should be independent of each other. This means that there is no relationship between the samples being tested.In this scenario, since the p-value is 0.34, the null hypothesis is accepted because the p-value is greater than the level of significance alpha (α), which is generally 0.05. Therefore, we cannot conclude that the population proportion of B is greater than that of A.
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In a Q system, the demand rate for strawberry ice cream is normally distributed, with an average of 290 pints per week. The lead time is 7 weeks. The standard deviation of weekly demand is 14 pints. Refer to the standard normal table for z-values. a. The standard deviation of demand during the 7-week lead time is pints. (Enter your response rounded to the nearest whole number.)
The standard deviation of demand during the 7-week lead time is approximately 37 pints (rounded to the nearest whole number).
Given: The demand rate for strawberry ice cream in a Q system is normally distributed, with an average of 290 pints per week. The lead time is 7 weeks. The standard deviation of weekly demand is 14 pints.
Using the formula below;
σd = σwdays^(1/2)σd
= 14 (7)^(1/2)σd
= 14 (2.65)σd
≈ 37.1 pints
Therefore, the standard deviation of demand during the 7-week lead time is approximately 37 pints (rounded to the nearest whole number).
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write about (Transactional leadership vs transformational
leadership) discussion and write example for each one
Transactional leadership refers to a leadership approach in which leaders direct their subordinates to achieve a predetermined outcome.
What is there purpose?They concentrate on the supervision of their subordinates and their productivity. This approach focuses on offering rewards for good performance and punishments for poor performance.It includes the exchange between leaders and followers, the giving and taking of orders, and the compliance of orders.Example: An excellent example of transactional leadership is the military. The commanding officer gives the order, and the soldier must comply with it. Transformational Leadership-Transformational leadership is a leadership style that focuses on raising the performance of the group by inspiring, mentoring, and engaging members to work together to achieve a common goal.
Example: Elon Musk is a great example of a transformational leader.
He inspires his employees to think big and believe in their abilities to achieve great things.
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Each period, demand for pears is normally distributed with a mean of 480 and standard deviation of 39. Round your answer to two decimal places. What is the standard deviation of demand over 5 periods?
To calculate the standard deviation of demand over multiple periods, you need to apply the properties of the normal distribution.
For a single period, the standard deviation of demand is given as 39.
To calculate the standard deviation of demand over multiple periods, you can use the fact that the standard deviation of the sum of independent random variables is equal to the square root of the sum of their variances. Since the periods are independent, we can apply this property.
The variance of demand over 5 periods is equal to the sum of variances over each period. Since the standard deviation is the square root of the variance, we can calculate the standard deviation of demand over 5 periods as follows:
Standard deviation of demand over 5 periods = Square root of (5 * 39^2)
Standard deviation of demand over 5 periods ≈ Square root of (5 * 1521)
Standard deviation of demand over 5 periods ≈ Square root of 7605
Standard deviation of demand over 5 periods ≈ 87.24 (rounded to two decimal places)
Therefore, the standard deviation of demand over 5 periods is approximately 87.24.
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Lui, Montavo, and Johnson plan to liquidate their Premium Pool and Spa business. They have always shared profit and losses in a 1:4:5 ratio, and on the day of the liquidation their balance sheet appeared as follows:
Premium Pool and Spa
Balance Sheet
June 30, 2020AssetsCash$77,250Machinery$612,750Less: Accumulated depreciation149,000463,750Total assets$541,000LiabilitiesAccounts payable$147,700EquityJim Lui$77,500Kent Montavo, capital202,100Dave Johnson, capital113,700Total equity393,300Total liabilities and equity$541,000
Required:
1. Under the assumption that the machinery is sold and the cash is distributed to the proper parties on June 30, 2020, complete the schedule provided below. Show the sale, the gain or loss allocation, and the distribution of the cash in each of the following unrelated cases:
a. The machinery is sold for $512,000. (Negative answers should be indicated by a minus sign.)
b. The machinery is sold for $399,000. (Negative answers should be indicated by a minus sign.)
The total loss on the sale of machinery is $125,938. Therefore, the amount of loss allocated to Lui is $125,938 × 1/10 = $12,594.
(a) Sale of machinery for $512,000 (i) Calculation of gain/loss on sale of machinery
Particulars Amount Sale price of machinery$512,000Less: Book value of machinery ($463,750 + $149,000)−$612,750Gain on sale of machinery$−100,750The amount of gain on sale of machinery is $100,750. (ii) Allocation of gain/loss and cash distribution to partners Particulars Lui Montavo Johnson
Total Loss on sale of machinery−$25,188−$100,750−$125,938Gain on sale of machinery0 0 0 Cash distribution $512,000 × 1/10 = $51,200 $512,000 × 4/10 = $204,800 $512,000 × 5/10 = $256,000 $512,000 Total $51,200 $204,800 $256,000 $512,000Lui, Montavo, and Johnson are to share the loss on sale of machinery in the ratio of 1:4:5 respectively.
The total loss on the sale of machinery is $125,938. Therefore, the amount of loss allocated to Lui is $125,938 × 1/10 = $12,594. The amount of loss allocated to Montavo is $125,938 × 4/10 = $50,376. The amount of loss allocated to Johnson is $125,938 × 5/10 = $62,970.
The cash distribution to Lui is $512,000 × 1/10 = $51,200. The cash distribution to Montavo is $512,000 × 4/10 = $204,800. The cash distribution to Johnson is $512,000 × 5/10 = $256,000. The total cash distribution is $512,000. (b) Sale of machinery for $399,000
(i) Calculation of gain/loss on sale of machinery Particulars Amount Sale price of machinery$399,000Less: Book value of machinery ($463,750 + $149,000)−$612,750Loss on sale of machinery$−213,750The amount of loss on sale of machinery is $213,750.
(ii) Allocation of gain/loss and cash distribution to partners Particulars Lui Montavo Johnson Total Loss on sale of machinery−$53,438−$213,750−$267,188Gain on sale of machinery0 0 0 Cash distribution $399,000 × 1/10 = $39,900 $399,000 × 4/10 = $159,600 $399,000 × 5/10 = $199,500 $399,000 Total $39,900 $159,600 $199,500 $399,000Lui, Montavo, and Johnson are to share the loss on sale of machinery in the ratio of 1:4:5 respectively.
The total loss on the sale of machinery is $267,188. Therefore, the amount of loss allocated to Lui is $267,188 × 1/10 = $26,719.
The amount of loss allocated to Montavo is $267,188 × 4/10 = $106,875. The amount of loss allocated to Johnson is $267,188 × 5/10 = $133,594. The cash distribution to Lui is $399,000 × 1/10 = $39,900.
The cash distribution to Montavo is $399,000 × 4/10 = $159,600. The cash distribution to Johnson is $399,000 × 5/10 = $199,500. The total cash distribution is $399,000.
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Operating Leverage Beck Inc. and Bryant Inc. have the following operating data: Beck Inc. Bryant Inc. Sales $247,200 $693,000 Variable costs (99,200) (415,800) Contribution margin $148,000 $277,200 Fixed costs (74,000) (79,200) Operating income $74,000 $198,000 a. Compute the operating leverage for Beck Inc. and Bryant Inc. If required, round to one decimal place. Beck Inc. Bryant Inc. b. How much would operating income increase for each company if the sales of each increased by 15%? If required, round answers to nearest whole number.
If the sales of each company increase by 15%, the operating income would increase by approximately $74,160 for Beck Inc. and $145,530 for Bryant Inc.
a. To compute the operating leverage for Beck Inc. and Bryant Inc., we use the formula:
Operating Leverage = Contribution Margin / Operating Income
For Beck Inc.:
Operating Leverage (Beck Inc.) = $148,000 / $74,000 = 2
For Bryant Inc.:
Operating Leverage (Bryant Inc.) = $277,200 / $198,000 = 1.4
b. To calculate the increase in operating income for each company if sales increase by 15%, we multiply the increase in sales by the operating leverage.
For Beck Inc.:
Increase in Sales = $247,200 * 0.15 = $37,080
Increase in Operating Income (Beck Inc.) = Increase in Sales * Operating Leverage (Beck Inc.) = $37,080 * 2 = $74,160
For Bryant Inc.:
Increase in Sales = $693,000 * 0.15 = $103,950
Increase in Operating Income (Bryant Inc.) = Increase in Sales * Operating Leverage (Bryant Inc.) = $103,950 * 1.4 = $145,530
Therefore, if the sales of each company increase by 15%, the operating income would increase by approximately $74,160 for Beck Inc. and $145,530 for Bryant Inc.
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Tuscan Inc. had a retained earnings balance of $60,000 at December 31,2018. During the year, Tuscan had the following selected transactions. Calculate the retained earnings balance at December 31,2019. Reported net income of $100,000.
Revised an estimate of a machine’s salvage value. Depreciation increased by $1,000 per year.
An error was discovered. Three years ago, a purchase of a building was incorrectly expensed. The effect is understated retained earnings of $12,000 (net of tax benefit).
Paid cash dividends of $33,000. calculate the retained earnings balance at decembar31, 2019 (Amounts to be indecated with a minus sign.)
The retained earnings balance at December 31, 2019, for Tuscan Inc. is $128,000. The steps to obtain the answer are shown below:Step 1Calculate the effects of the different transactions on the retained earnings balance:Net income $100,000Revised estimate of machine's salvage value $(1,000)
Error of 3 years ago building purchase $12,000Paid cash dividends $(33,000)Net effect on retained earnings $78,000Step 2Calculate the retained earnings balance by adding the net effect on retained earnings to the balance at the beginning of the year:Beginning balance $60,000Add net effect on retained earnings $78,000
Ending balance $138,000Therefore, the retained earnings balance at December 31, 2019, for Tuscan Inc. is $128,000.
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Describe impacts of technology on health care operations and discuss benefits & challenges faced by today’s healthcare system.
Length 200 or more words
Format: Include citations from resources
Use APA Style
Technology has had a transformative impact on healthcare operations, offering significant benefits and presenting challenges. The benefits include improved efficiency, enhanced patient care, and increased accessibility to healthcare services. However, challenges such as high implementation costs, the need for continuous training, and interoperability issues must be addressed to fully harness the potential of technology in today's healthcare system.
The impact of technology on healthcare operations has been substantial, revolutionizing the way healthcare services are delivered, managed, and accessed. Technology has brought numerous benefits to the healthcare system, but it also presents challenges that need to be addressed.
One significant benefit of technology in healthcare is improved efficiency and accuracy in patient care. Electronic Health Records (EHRs) have replaced paper-based records, allowing for seamless data storage, retrieval, and sharing among healthcare providers. EHRs enable real-time access to patient information, reducing medical errors, improving communication, and enhancing overall patient safety (American Medical Association, 2016). Additionally, technologies such as telemedicine and remote patient monitoring have facilitated access to healthcare services in remote areas, increased patient convenience, and reduced healthcare costs (Bashshur et al., 2016).
Technology has also empowered healthcare professionals with advanced diagnostic tools and treatment options. Medical imaging technologies, such as MRI, CT scans, and ultrasound, have revolutionized diagnostics by providing detailed images for accurate disease detection and monitoring (Kumar et al., 2017). Robotic-assisted surgeries have enabled minimally invasive procedures, resulting in reduced patient trauma, faster recovery, and improved surgical outcomes (Rogers et al., 2017).
However, the rapid pace of technological advancements in healthcare also brings challenges. One major challenge is the high cost of implementing and maintaining technology systems. Healthcare organizations must invest significant financial resources to adopt and integrate new technologies, which can strain budgets and affect resource allocation for patient care (Lluch, 2011).
Another challenge is the need for ongoing training and education of healthcare professionals to effectively utilize technology. New systems and devices require healthcare providers to continuously update their skills and knowledge, which can be time-consuming and resource-intensive (Dyson et al., 2017). Additionally, the interoperability of different technologies and systems remains a challenge, as seamless data exchange between various platforms is often hindered by compatibility issues (Adler-Milstein & Jha, 2016).
In conclusion, technology has had a transformative impact on healthcare operations, offering significant benefits and presenting challenges. The benefits include improved efficiency, enhanced patient care, and increased accessibility to healthcare services. However, challenges such as high implementation costs, the need for continuous training, and interoperability issues must be addressed to fully harness the potential of technology in today's healthcare system.
References:
Adler-Milstein, J., & Jha, A. K. (2016). HITECH Act Drove Large Gains In Hospital Electronic Health Record Adoption. Health Affairs, 35(4), 661–668. doi: 10.1377/hlthaff.2015.0992
American Medical Association. (2016). AMA: Electronic Health Records. Retrieved from https://www.ama-assn.org/practice-management/digital/electronic-health-records-ehr
Bashshur, R. L., Howell, J. D., Krupinski, E. A., Harms, K. M., & Bashshur, N. (2016). The Empirical Foundations of Telemedicine Interventions in Primary Care. Telemedicine Journal and E-Health, 22(5), 342–375. doi: 10.1089/tmj.2015.0156
Dyson, M. P., Newton, A. S., Shave, K., Featherstone, R. M., Thomson, D., Wingert, A.,...Hartling, L. (2017). Proactive Risk Assessment of Surgical Site Verification Using Failure Modes and Effects Analysis. Journal of Surgical Research, 218, 184–192. doi: 10.1016/j.jss.2017.04.025
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Omar Company uses a periodic inventory system and erroneously overstates ending inventory by $10,000 for the year ended December 2016. If Omar discovers this error in 2017, it should
Omar Company erroneously overstates the ending inventory by $10,000 for the year ended December 2016 while using the periodic inventory system.
If Omar discovers this error in 2017, it should rectify it by making the following two journal entries:The first entry will correct the 2016 accounts, and the second entry will report the adjustment in the 2017 accounts. The entry to adjust the 2016 accounts will entail crediting the inventory account by $10,000, and debiting the cost of goods sold account by $10,000. As a result, the $10,000 overstatement in the ending inventory will be corrected for 2016.The following year, 2017, the company will make an adjusting entry to reflect the adjustment made in 2016. A $10,000 debit will be made to the beginning inventory account in 2017, and a credit of $10,000 will be made to the retained earnings account. Since the overstatement was corrected in 2016, the beginning inventory balance for 2017 should be lower by $10,000. Hence, to restore the correct opening balance for 2017, a debit of $10,000 will be made in the beginning inventory account. The overstatement of inventory will not affect the income statement of the company as it has already been accounted for in 2016's cost of goods sold.
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You are the financial manager of EDGE Inc and required to calculate accepted rate of return for the company, as the current rate is outdated. The following is information received from the finance department: Value R 22 500 000 R 180 825 450 R 10 000 000 R 113 850 750 Source Ordinary shares Retained earnings Preference shares Long term borrowings The marginal tax rate is 28%. REQUIRED: Present your answer in: After-tax cost 10.80% 10.80% 12.15% 11.34% In Excel, create a table using the provided information and calculate the WACC for EDGE Inc. Normal view Formula view (9 marks) an updated (4 marks) (5 marks)
The Weighted Average Cost of Capital (WACC) for EDGE Inc is estimated to be 11.08% after-tax.
To calculate the WACC, we need to determine the cost of each capital component and its respective weight in the company's capital structure. The formula for WACC is as follows: WACC = (E/V) * Re + (D/V) * Rd * (1 - Tax Rate)
Given the information provided, we can calculate the WACC as follows:
1. Calculate the proportion of equity (E/V):
E/V = R22,500,000 / (R22,500,000 + R180,825,450 + R10,000,000 + R113,850,750) = 0.1067
2. Calculate the proportion of debt (D/V):
D/V = (R180,825,450 + R10,000,000 + R113,850,750) / (R22,500,000 + R180,825,450 + R10,000,000 + R113,850,750) = 0.8933
3. Calculate the cost of equity (Re):
Re = After-tax cost of retained earnings = 10.80%
4. Calculate the cost of debt (Rd):
Rd = After-tax cost of long-term borrowings = 11.34%
5. Calculate the WACC:
WACC = (0.1067 * 10.80%) + (0.8933 * 11.34% * (1 - 28%)) = 11.08% after-tax
Therefore, the estimated WACC for EDGE Inc is 11.08% after-tax. This rate represents the average rate of return required by the company's investors to finance its operations and investments.
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Twisted Treat offers a rewards program for people who frequent their ice cream shop often, which awards patrons credit each time they buy ice cream. Specifically, after a customer visits Twisted Treat 2 times they are rewarded with a discount on their 3rd Twisted Treat has determined that when an average customer enjoys a desert, there are ultimately 2 performance obligations that Twisted Treat must meet to complete the earnings process. The first of these performance obligations, representing approximately 75% of the value of a given customer check is earned at the time of the visit. The remaining 25% is ultimately earned when the customer returns and uses their credit on a future visit, which is tracked by Twisted Treat. Customer A spends $40 on $11/15/2017 and $60 on 12/15/2017. On their third visit (on 1/15/2018) they redeem their earned reward and pay $10. What journal entries would Twisted Treat record on 11/15/2017? Edit View Insert Format Tools Table 12pt Paragraph BIUA 2 T² 51 3 Question 18 3 pts Twisted Treat offers a rewards program for people who frequent their ice cream shop often, which awards patrons credit each time they buy ice cream. Specifically, after a customer visits Twisted Treat 2 times they are rewarded with a discount on their 3rd Twisted Treat has determined that when an average customer enjoys a desert, there are ultimately 2 performance obligations that Twisted Treat must meet to complete the earnings process. The first of these performance obligations, representing approximately 75% of the value of a given customer check is earned at the time of the visit. The remaining 25% is ultimately earned when the customer returns and uses their credit on a future visit, which is tracked by Twisted Treat. Customer A spends $40 on $11/15/2017 and $60 on 12/15/2017. On their third visit (on 1/15/2018) they redeem their earned reward and pay $10. What journal entries would Twisted Treat record on 1/15/2018? Question 17 3 pts Twisted Treat offers a rewards program for people who frequent their ice cream shop often, which awards patrons credit each time they buy ice cream. Specifically, after a customer visits Twisted Treat 2 times they are rewarded with a discount on their 3rd Twisted Treat has determined that when an average customer enjoys a desert, there are ultimately 2 performance obligations that Twisted Treat must meet to complete the earnings process. The first of these performance obligations, representing approximately 75% of the value of a given customer check is earned at the time of the visit. The remaining 25% is ultimately earned when the customer returns and uses their credit on a future visit, which is tracked by Twisted Treat. Customer A spends $40 on $11/15/2017 and $60 on 12/15/2017. On their third visit (on 1/15/2018) they redeem their earned reward and pay $10. What journal entries would Twisted Treat record on 12/15/2017?
On 11/15/2017, Twisted Treat would record the following journal entries:Accounts Receivable $40Sales Revenue $30Unearned Revenue $10 Deferred Revenue $10
Twisted Treat has determined that there are two performance obligations that must be met to complete the earnings process. The first of these performance obligations represents approximately 75% of the value of a given customer check and is earned at the time of the visit. So, on 11/15/2017, when Customer A spends $40, Twisted Treat will record Accounts Receivable for $40 and Sales Revenue for $30.
Since the remaining 25% is ultimately earned when the customer returns and uses their credit on a future visit, Twisted Treat will also record $10 as Unearned Revenue and Deferred Revenue on 11/15/2017.On 12/15/2017, when Customer A spends $60, Twisted Treat will record Accounts Receivable for $60 and Sales Revenue for $45 (75% of $60). However, since the customer has not yet earned their reward, Twisted Treat will not record any entries related to the reward.On 1/15/2018, when Customer A redeems their reward and pays $10.
The Sales Revenue account is increased by $10 to reflect the revenue earned from the sale, and the Accounts Receivable account is also increased by $10 since the customer did not pay in full at the time of the sale.
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which of the following is performed during the support phase of the pr execution
a)monitoring and controlling
b)building deliverables
c)conducting reviews
d) All of these
Conducting reviews involves evaluating and assessing the effectiveness of the plan to understand if it is achieving its goals. Therefore, All of these is the correct answer.
The correct option is D) All of these
PR execution or Public Relations execution includes several phases such as Planning phase, Implementation phase, and Support phase. Support Phase includes monitoring and controlling, building deliverables, and conducting reviews. Hence, option D, i.e. All of these is correct.As the name suggests, the support phase provides support to the previous phases such as planning and implementation. The support phase is the third and final phase of PR execution. In this phase, the execution of the plan starts to happen.
It is critical to monitor and control the activities of PR to ensure that the plan is on track and budget. Building deliverables refers to creating and distributing materials to reach the target audience. Conducting reviews involves evaluating and assessing the effectiveness of the plan to understand if it is achieving its goals. Therefore, All of these is the correct answer.
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How is the first mover advantage related to
schelling's paradox of commitment?
The first mover advantage is related to Schelling's paradox of commitment in that both require some level of commitment to gain an advantage.
The First Mover Advantage is the advantage that a company enjoys when it is the first to enter a new market or introduce a new product. In general, first movers enjoy higher profit margins than their competitors. This is because they have the opportunity to capture a large portion of the market share before competitors enter the market. This provides them with a higher level of bargaining power in the market. Schelling's Paradox of Commitment Schelling's Paradox of Commitment states that an individual can only make credible commitments by limiting their future freedom of action.
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