One of the basic frameworks used to describe how the environments affect organizations is environmental change and complexity. Hence option (B) is the answer.
How do changing environments affect organizations?When the environment changes, the organization that operates there must frequently adjust as well. Environmental uncertainty is the degree of complexity and change in the surroundings of an organization. Legal, technological, sociocultural, and other restrictions are imposed on organizations by the environment. Stability, complexity, resource scarcity, and uncertainty are the four factors that best explain the type of change that occurs in the environment.
Almost any component of a business operations that is changed may encounter opposition, and various cultures may respond in different ways to the change itself and the methods used to implement it. Over time, a company's external environment changes. This situation is very complicated and varied as well.
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problem1answered. problem2answered.this problem is current being displayed. problem3 question content areacool taste company recorded $2,800 in sales on account for the week. what effect does this transaction have on the accounting equation?
The AreaCool Taste Company's transaction to record $2,800 in sales on profile for the week seems to have the following effects on assets, liabilities, and equity in the accounting equation.
Explain what asset means.Resources used by either a person or a business are considered assets. For instance, a person's personal assets may consist of their professional background or a life insurance coverage. In contrast, a company's assets are things that it can use to make money.
What is not a strength?The resources that a company owns (such as money, accounts receivable, and vehicles) are known as its assets, but the loan that is taken does not constitute an asset.
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what are some advantages and disadvantages of a government continuing to issue paper currency in the face of widespread financial innovation?
Answer:
Some of the advantages of a government continuing to issue paper currency in the face of widespread financial innovation include increased trust and confidence in the currency, a sense of security for citizens and businesses, and regulation of the financial system. Disadvantages include the cost of printing and maintaining paper currency, the risk of counterfeiting, and the difficulty of tracking the circulation of paper currency. Additionally, paper currency may not be able to keep up with the speed of modern financial transactions, and its use may hinder the development of new and innovative financial technology.
which basic question should the vision statement answer? how can we improve ourselves? how can we increase profitability? what is our business? who are our stakeholders? what do we want to become?
The basic question that the vision statement answer is what do we want to become.
A vision statement is an inspiring declaration of the aspirational, sentimental future of an organisation. Aspiration is the underlying human emotion that a founder hopes all those who engage with their organisation will feel. It offers a succinct summary of an organization's ultimate objectives. It expresses the company's objectives for altering the world and is typically lofty. Consider it a guide for making choices that are in line with the fundamentals and goals of your business. A vision statement is intended to set business apart from competition and direct your efforts to meeting your objectives.
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the goal and plan selection step of the formal planning process comes after which action?
Answer:
goal and plan evaluation
Explanation:
which practice enables hr professionals to develop performance measures? question 3 options: job analysis position analysis performance appraisal job evaluation
The practice that enables HR professionals to develop performance measures is job analysis.
What is meant by Job analysis?Job analysis is a process of systematically studying and gathering information about a job to determine its duties, responsibilities, and required skills and knowledge. Through job analysis, HR professionals can identify the key performance indicators (KPIs) that are necessary to measure job performance. These KPIs can then be used to develop performance measures, such as goals, objectives, and targets, that are aligned with the job requirements and organizational objectives. By using job analysis to develop performance measures, HR professionals can ensure that the measures are relevant, valid, and reliable, and that they effectively measure job performance.
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was the argument today between neil and susan the true conflict or a symptom? what evidence do you have to suggest it is merely a symptom of a larger problem? 2. explain how differentiation plays a large role in the problems that exist between susan and neil. 3. develop a conflict management procedure for your meeting in 30 minutes. create a simple script to help you anticipate the comments you are likely to hear from both parties. 4. which conflict resolution style is warranted in this case? why? how might some of the other resolution approaches be inadequate in this situation?
When one state provides a certain person with protection that another state does not, there is a real conflict when the court of the state that does not provide the protection is asked to apply the law of the state providing the protection.
What is a true conflict?A real dispute needs to be settled. It will become larger and have a bad effect if it is not resolved. Your kid is struggling with drug use. You and the child's other parent disagree on how to step in. The youngster is not assisted since there is no intervention. This really is a conflict. A grant proposal must be written by you and your coworker.
The best way to prepare the proposal and how much time you should devote to it are in dispute. As a result, there is a chance that the proposal won't be top-notch and won't be finished on time. Therefore, there is a chance that your company won't get this crucial funding. This really is a conflict.
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after years of customer feedback, bank of bux is finally going paperless. the bank's communications team promoted the strategy both internally and externally. customers were strongly encouraged to utilize the bank's website and mobile system for all their banking needs. customers unfamiliar or uncomfortable with online banking could sign up for workshops where employees show them how to navigate both the bank's new website and mobile app. the bank's initiative demonstrates
the bank's initiative demonstrates a place where the company can save money while also making a difference in the environment.
The Bank of Bux's paperless programme shows how strategically it has responded to client input in order to accommodate their demands and desires. The bank wants to convey its move to digital banking and boost client acceptance of its online and mobile banking services, therefore it is marketing the approach both internally and publicly. The bank makes sure that all of its clients can use its services by providing seminars to assist those who are inexperienced with internet banking. The programme symbolises a change towards operations that are more effective and ecologically friendly while also enhancing the comfort and experience of the client.
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after years of customer feedback, bank of bux is finally going paperless. the bank's communications team promoted the strategy both internally and externally. customers were strongly encouraged to utilize the bank's website and mobile system for all their banking needs. customers unfamiliar or uncomfortable with online banking could sign up for workshops where employees show them how to navigate both the bank's new website and mobile app. the bank's initiative demonstrates what?
if you owe suppliers $100 and typically buy $20 worth of products per day, then your days payable equals:
if you owe suppliers $100 and typically buy $20 worth of products per day, then your days payable equals: 5 days.
To calculate your days payable, you can use the following formula:
Days Payable = (Accounts Payable / Average Daily Purchases)
To use this formula, you first need to calculate your average daily purchases. In this case, you typically buy $20 worth of products per day. Therefore, your average daily purchases are $20.
Next, you can plug in the values into the formula:
Days Payable = ($100 / $20) = 5
Therefore, your days payable is 5. This means that it takes you an average of 5 days to pay your suppliers.
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brenda saves money during the summer because she works fewer hours during the fall and her income drops then. brenda is practicing which type of coping strategy?
Brenda is practicing a type of coping strategy known as "anticipatory coping."
Anticipatory coping involves taking proactive measures to prepare for future stressors or challenges, rather than simply reacting to them when they arise. In this case, Brenda is anticipating the financial stress she may experience during the fall when her income drops due to working fewer hours, so she is proactively saving money during the summer to help alleviate that stress. Anticipatory coping can be an effective way to manage stress because it allows individuals to feel more in control of their situation and better prepared to handle challenges as they arise.
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a company's prime costs total $4,600,000 and its conversion costs total $8,600,000. if direct materials are $1,800,000 and factory overhead is $5,800,000, then direct labor is:
Using the conversion costs formula, which takes into account direct
labour and factory overhead, we may calculate the cost of direct labour. Cost of conversion = Direct labour + Factoryoverhead.Thus,$2,800,000 is the direct labour cost.
Direct materials and direct labour make up the majority of the company's prime costs and conversion costs. The raw materials used in the production process and included in the prime costs are referred to as "direct materials." Factory overhead, which is a component of conversion costs, describes the supplemental expenses incurred throughout the manufacturing process. The direct materials cost of $1,800,000 and the factory overhead cost of $5,800,000 can be subtracted from the overall conversion expenses of $8,600,000 to determine the direct labour costs. Direct labour expenses as a result come to $1,000,000 ($8,600,000 - $1,800,000 - $5,800,000). Consequently, the company's direct labour expenses total $1,000,000.
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A vendor conducting a pilot program with your organization is called: ________
A vendor conducting a pilot program with your organization is called pilot testing.
A type of software testing called pilot testing looks at a system's components or the system as a whole while it is being used. The purpose of the pilot test is to evaluate the performance, time, cost, and risk of a research project. This testing takes place exactly between UAT and Production. Pilot programmes are quite helpful when it comes to lowering the risk connected with implementing new tools and technologies. A test program's objective is to evaluate the innovation in a less critical setting before putting it into practise on a larger scale. This means you can decide whether to accept it or reject it without investing a lot of time, effort, or resources.
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____________. consumers demand different amounts at every price, causing the demand curve to shift to the left or the right.
Change in Demand is the consumers demand different amounts at every price, causing the demand curve to shift to the left or the right.
What factors influence demand?Changes in customer income, consumer preferences, the price of related goods, demographics, customer expectations, and advertising and marketing are all factors that can cause a change in demand. In general, an increase in consumer income leads to an increase in demand for ordinary goods, whereas a decrease in income can lead to a decrease in consumption. Changes in consumer preferences or demographics can also have an impact on the demand for specific goods and services. Demand can be influenced by the price of related goods such as substitutes and complements. Finally, advertising and marketing have the ability to influence consumer perceptions and generate demand for new or existing products.
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tam company is negotiating for the purchase of equipment that would cost $100,000, with the expectation that $20,000 per year could be saved in after-tax cash costs if the equipment were acquired. the equipment's estimated useful life is 10 years, with no residual value, and would be depreciated by the straight-line method. tam's predetermined minimum desired rate of return is 12%. present value of an annuity of 1 at 12% for 10 periods is 5.65. present value of 1 due in 10 periods at 12% is 0.322. what is the accrual accounting rate of return based on initial investment?
The correct option is (d) 10%. The accounting rate of return (ARR) calculates a rough rate of return without taking time value of money into account.
Annual savings in after-tax cash costs
It is calculated as Initial (or Average) Investment Expected Increase divided by Annual Net Income for a Project.
The rise in Tam's yearly income that is anticipated is as follows:
Annual reduction in after-tax cash expenses.
$20,000 Annual depreciation on equipment
($100,000 ÷ 10 years) = (10,000)
Increase in annual net income $10,000
Purchase requires an initial investment of $100,000.
the apparatus. Consequently, the equipment's ARR is below. Tam is taking everything into account as:
$10,000 ÷ $100,000 = 10%
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Note that the full question is:
39. Tam Co. is negotiating for the purchase of equipment that would cost $100,000, with the expectation that $20,000 per year could be saved in after-tax cash costs if the equipment were acquired. The equipment's estimated useful life is ten years, with no residual value, and it would be depreciated by the straight-line method. Tam's predetermined minimum desired rate of return is 12%.
The present value of an annuity of 1 at 12% for ten periods is 5.65. The present value of 1 due in ten periods at 12% is .322. Accrual accounting rate of return based on the initial investment is
a. 30%
b. 20%
c. 12%
d. 10%
when several people in an organization participate in purchase decisions, often for more important or expensive contracts, it is called .multiple choice question.
When several people in an organization participate in purchase decisions, often for more important or expensive contracts, it is called a buying center.
Buying centers are organizations' groupings of people who make purchasing decisions. Large organizations frequently have permanent departments made up of personnel who shop for a living. In other words, they are professional buyers. Their titles differ.
They are simply referred to as purchasers in some businesses. They are known as purchasing agents, purchasing managers, or procurement officials at other companies. Buyers are frequently referred to as merchandisers by retailers.
The majority of persons who work in these fields have bachelor's degrees in science. Some people go through further industry training to get an advanced purchasing certification. Buyers can have a significant impact on a company's expenses, revenues, and profitability.
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Correct question:
when several people in an organization participate in purchase decisions, often for more important or expensive contracts, it is called _____.
he best measure of long-run economic growth adjusts nominal GDP for inflation and population. nominal GDP for inflation. nominal GDP for population. real GDP for the base year.
Real gross domestic product( GDP), as opposed to nominal GDP, is a better index of an frugality's affair. Real GDP provides economists with a clearer picture of how the entire public affair of a country is changing from time to time by removing the deformation brought on by affectation, deflation, or changes in currency rates.
A country's GDP is calculated as the sum of all of its investments, exports, consumer and government spending, minus the value of its significances. Nominal GDP represents the raw data in current bones without taking affectation into account. Real GDP eliminates any deformation brought on by affectation or deflation by conforming the figures by fixing the value of the currency. The GDP of a nation changes at a certain rate, generally from one time to the coming, and is represented as a chance. The gross public product( GNP), another index of profitable growth, is sometimes preferred when a country's frugality is heavily dependent on foreign earnings.
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georgia, a widow, has take-home pay of $1,200 a week from her part-time job. her disability insurance coverage replaces 70 percent of her earnings after a four-week waiting period. what amount would she receive in disability benefits if an illness kept georgia off work for 18 weeks? (do not round intermediate calculations.)
$11760 If Georgia missed work for 18 weeks due to illness, she would receive disability benefits.
What is Disability Benefit payment?A person must meet the Social Security Act's definition of disability in order to be eligible for disability benefits (Act). According to the Act, a person is considered disabled if they are unable to work because of a serious medical condition that has persisted for at least a year or is anticipated to do so or cause their death.
Disability Benefit payment = Payment * weeks
Payment = Homepay * Insurance coverage percent
= 1200 * 0.70
= 840
Weeks = Total weeks - waiting weeks
= (18 - 4)
= 14
DBP = 840 * 14
= 11760
= $11760
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suppose that your income remains unchanged, but the price of gasoline decreases. you can afford to purchase more gasoline, because there has been:
The Demand curve shows the relationship between the price of a good or service and the quantity demanded over a period of time.
Demand curves can be used to determine the price-to-volume relationship for an individual consumer or for all consumers in a given market. When income stays the same but the price of gas goes down.
They can afford to buy more gas because there has been downward movement along the existing demand curve, partly explained by the income effect. When gasoline prices fall, demand for large cars increases; This is how the market shows the big car market.
Demand for large cars is shifting to the right due to lower prices, resulting in higher consumption of gasoline cars. Greater demand for cars with existing supply will increase their prices.
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a customer has asked ch for an estimate on a basic, 1,500 square-foot home on a vacant lot, which already has utilities installed. the client is a cooking enthusiast, and also wants luxury appliances. based on the engineering estimates above, what will such a house cost to build?
Without more information about the specific location and other details about the house and appliances, it's difficult to provide an accurate estimate for the cost of building a 1,500-square-foot home with luxury appliances on a vacant lot with utilities installed.
However, we can provide some general information about factors that can impact the cost of a new home build.
One of the biggest factors that affects the cost of building a new home is the location. Construction costs can vary widely depending on factors such as local building codes, the availability of skilled labor, and the cost of materials in the area. Other factors that can impact the cost of a new home build include the complexity of the design, the type of foundation, and the quality of the materials used.
Additionally, the cost of luxury appliances can vary widely depending on the specific products chosen. Luxury appliances can range from high-end refrigerators and ovens to specialized equipment such as built-in espresso machines and wine coolers. The cost of these appliances can add significantly to the overall cost of a new home build.
To provide an accurate estimate for the cost of building a specific home, it would be necessary to have more information about the location, design, and materials to be used. A professional contractor or builder could work with the client to create a detailed estimate that takes all of these factors into account.
In summary, the cost of building a new home can vary widely depending on a number of factors, including location, design, materials, and appliances. To get an accurate estimate for the cost of building a specific home, it's important to work with a professional contractor or builder who can provide a detailed estimate based on the specific details of the project.
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the band is breaking up and rob, sue, tim and vito each want the tour bus. using the method of sealed bids, rob bids $4600, sue bids $3100, tim bids $2400, and vito bids $7100 for the bus. since vito's bid is the highest, he gets the bus and has to compensate the others to make the division fair. how much money will rob get from vito?
Competitive bids, public opening of bids, and rewards are all used in the sealed bidding method of contracting and the money that Rob gets from Vito is $2,500.
What are sealed bids?A technique of contracting known as sealed bidding uses competitive bids, public opening of bids, and awards.
There are several steps involved: (a) The creation of bid invites. Invitations must clearly, thoroughly, and accurately outline the government's requirements.
There is no longer a need for negotiations, and the format for best and final offers ensures that prospective purchasers always disclose their budgets.
This is advantageous for sellers since it ensures a high price and drives away potential later-pulling-out purchasers.
So, the money that Rob gets from Vito:
= 7100 - 4600
= $2,500
Therefore, competitive bids, public opening of bids, and rewards are all used in the sealed bidding method of contracting and the money that Rob gets from Vito is $2,500.
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why meta asks many managers to get back to making things or leave?
Meta, has a culture of prioritizing rapid innovation and growth. The company is constantly seeking to develop and launch new products and features, and it values individuals who can move quickly and adapt to change.
As the company has grown, it has become more bureaucratic, which can sometimes impede its ability to move quickly. In order to maintain its focus on innovation and growth, Meta has sometimes asked managers who are not directly contributing to these goals to either get back to making things or leave the company. This approach is meant to ensure that the company has a high-performing workforce that is aligned with its mission and values.
Additionally, Meta's leadership believes that having a flat organizational structure helps it to move more quickly and stay focused on its goals. By minimizing the number of managers and ensuring that everyone is focused on creating value for users, the company is better positioned to innovate and compete in the fast-paced technology industry.
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What accounts are inventory invoices placed into?
Inventory invoices are usually placed into one of the following accounts in an accounting system:
Inventory Account: This account is used to track the cost of goods that a business has in stock. The inventory invoices are recorded as a debit in this account.
1. Purchases Account: This account is used to track the cost of goods purchased by a business. The inventory invoices are recorded as a credit in this account.
2. Cost of Goods Sold (COGS) Account: This account is used to track the cost of goods sold by a business. The inventory invoices are recorded as a debit in this account when the goods are sold.
3. Accounts Payable Account: This account is used to track the amount owed to suppliers for goods purchased on credit. The inventory invoices are recorded as a debit in this account until they are paid.
4. The specific accounts that inventory invoices are placed into may vary depending on the accounting system and the business's accounting policies. It's important to consult with an accountant or financial advisor to determine the most appropriate accounts to use for your business.
a deadweight loss results from the imposition of a tax on a good because the tax group of answer choices induces the government to increase its expenditures. reduces the quantity of exchanges between buyers and sellers. causes a disequilibrium in the market. imposes a loss on buyers that is greater than the loss to sellers.
b) A good experiences a deadweight loss when a tax is imposed on it because it decreases the number of exchanges between buyers and sellers.
Describe tax.Tax compliance refers to both governmental activities and individual behavior in order to make sure that taxpayers are paying the correct amount of tax at the right time and receiving the correct tax allowances and tax reliefs.
A tax is a mandatory financial charge or another type of levy that a governing body imposes on a taxpayer (an individual or a business company) in order to cover particular public expenses and administrative costs (regional, local, or national). Between 3000 and 2800 BC, the first taxation in history was enacted in Ancient Egypt. Late payments, tax evasion, and opposition to taxation are all examples of breaking the law.
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would you be willing to issue a clean audit opinion for the client if they make all the adjusments for items on the summary of unadjusted misstatements?
An audit opinion is a formal statement issued by an independent auditor after conducting an audit on the financial statements of a company.
It provides an assessment of the fairness and reliability of the financial statements in accordance with applicable accounting standards and regulations.In order for an audit to issue a clean (unqualified) audit opinion, the financial statements must be free from material misstatements. If there are any unadjusted misstatements found during the audit, the auditor will discuss these with management and request that appropriate adjustments be made to the financial statements.If management makes all the necessary adjustments to correct the unadjusted misstatements and the auditor is satisfied with the changes, then it is possible that a clean audit opinion could be issued. However, the auditor will need to conduct further testing to ensure that there are no additional material misstatements in the financial statements.
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How Do Tariffs Protect Domestic Industries?
Answer: Look or use explanation
Explanation:
Tariffs are taxes imposed on imported goods, and they are used to protect domestic industries by making foreign products more expensive. This increases the price competitiveness of domestic products, making them more attractive to consumers and allowing domestic producers to sell more of their goods. By making foreign goods more expensive, tariffs reduce the incentive for domestic consumers to purchase imports and instead encourage them to buy domestically produced goods.
For example, if a tariff is imposed on imported cars, domestic car producers would be protected as consumers would be more likely to buy cars produced domestically rather than those produced abroad. This could help the domestic car industry grow and create more jobs, as well as increase the demand for domestically produced components and raw materials.
However, it's important to note that tariffs can also have negative effects, such as increasing prices for consumers, reducing economic efficiency, and leading to retaliation from other countries. Additionally, tariffs may lead to the development of monopolies and reduced competition in domestic markets, which can result in higher prices and reduced quality for consumers.
Which explains one way that a general partnership differs from a limited partnership?
a. In a general partnership, each partner may own as much of the company's stock as they want.
b. A general partnership requires all partners to make the business decisions collectively.
c. Each partner in a general partnership is fully responsible for all of the business's debts.
d. In a general partnership, there is only one partner who is responsible for all of the business's debts
Option - c. Each partner in a general partnership is fully responsible for all of the business's debts.
This statement is true and it explains one way that a general partnership differs from a limited partnership.
In a general partnership, each partner is entirely and equally liable for the obligations and liabilities of the company. This means that each partner is liable for any debts that the company accrues, even if they were incurred without their knowledge or approval.
In contrast, there are two different kinds of partners in a limited partnership: general partners and limited partners.
While limited partners have limited liability and are only liable for the amount of their investment, general partners in a general partnership are equally accountable as partners.
Similar to a general partnership, a limited partnership must have at least one general partner, as opposed to the minimum need of two for general partnerships.
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when a business grows through unrelated diversification, acquiring companies in different industries, it is called .
Conglomeration is described as the act of expanding through unconnected diversification, essentially by buying businesses in several industries.
The purchase of a franchise has which of the following drawbacks?Having a franchise has drawbacks.
Because they must pay royalties to the franchisor, franchisees are forced to endure greater operating franchise costs. They must also abide by the guidelines established by the franchisor, who is the owner of a large portion of your potential future earnings.
What drawback does every franchisee experience with the business model?A franchise has numerous benefits, but there are also many drawbacks, despite the fact that many franchises are turnkey, making them fantastic business opportunities. Due to the fact that a franchise is not entirely independent, this is the main drawback that many franchisees experience.
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in its 1st year of operation, jetway airlines paid salaries expense of $40 million. on december 31, it recorded an entry for additional salaries expense of $2 million that will be paid at the beginning of the 2nd year. what should jetway report in the income statement and balance sheet for its first year ended december 31?
The $2 million entry to record the increased wages expenditure will be recognised on the balance sheet as a current obligation at December 31, when the expenditure is paid in the second year.
What is an income statement?A financial statement that reports a company's financial success over a certain accounting period is known as an income statement. It displays a company's revenue, costs, and net income for the specified time period. One of the three basic financial statements used to analyse a company's financial status is the income statement.
The entry of $2 million to record the additional salaries expense that will be paid in the 2nd year will be recorded as a current liability on the balance sheet at December 31, as the expense has been incurred but not yet paid. This amount will be reported on the income statement in the 2nd year when the expense is paid.
Income Statement:
Salaries Expense: $42 million
Balance Sheet:
Accrued Salaries Payable: $2 million
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margo buys music cds and movies on dvds. the table above shows her total utility from each good. a) draw graphs showing margo's utility from music cds and from movies on dvds. b) compare the two utility graphs. describe margo's preferences. c) draw graphs that show margo's marginal utility from music cds and from movies on dvds. d) what do the two marginal utility graphs tell you about margo's preferences?
The general guide on how to draw utility and marginal utility graphs and answer the other parts of the question based on that.
A. To create Margo's utility graphs for music CDs and DVD movies, plot the total utility statistics in the table against the quantity of each commodity consumed.
B. We can discover Margo's preferences between music CDs and DVD movies by comparing the two utility graphs.
C. In order to draw Margo's marginal utility graphs for music CDs and DVD movies, we must calculate the change in total utility caused by consuming an additional unit of each good.
D. By comparing the two marginal utility graphs, we can see how Margo's preferences for music CDs and DVD movies vary as she consumes more of each.
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which parts of a company ecosystem rely on continuous improvement to have collective and separate successes? select all that apply.
Before performing a process improvement experiment, a project manager must choose which processes to change and which to leave alone.
What is a good example of process improvement in project management?
A few instances of process improvement include streamlining software systems, developing new best-practice guidelines, or managing demand to boost customer satisfaction. Programs for process improvement frequently focus on one or more of the following: Efficiency. Quality.
What looks like a plan for ongoing improvement?
Employee training, skill development, cross-training efforts, educational benefits, and courses can serve as examples of continuous improvement. When most people begin a profession, they will already have a certain set of skills and competencies, and they will develop more in those areas over time.
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people enjoy water skiing and surfing equally well in the macro islands. if the price of water skis increased drastically, how would the ski rope market be affected? demand / supply / price / quantity
The ski rope market will be affected as: Decrease in demand, No Change in supply, Decrease in price and Decrease in quantity.
The market refers to the entire population of buyers and sellers in the region or area under consideration. The topic could be Earth as well as different countries, states, regions, and cities. The market forces of supply and demand determine the value, cost, and cost of the goods traded.
One could refer to the process as a market in which the prices of goods and services are determined. With the help of markets, trade can be facilitated as well as resources can be distributed and allocated in a society.
Every tradable good can be evaluated and priced thanks to markets. A market either more or less naturally develops or may be purposefully created through human interaction in order to facilitate the exchange of rights.
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