Answer:
$1100
Explanation:
Net Income = Gross Income - Cost of Goods Sold - Expenses
= 5000 - 900 - 3000
= 5000 - 3900
= 1,100
In the month of June, Blossom Hebert's Beauty Salon gave 4000 haircuts shampoos, and hair colorings at an average price of $35.
During the month fixed costs were $16,800 and variable costs were 70% of sales
(a)
* Your answer is incorrect.
Determine the contribution margin in dollars, per unit and as a ratio. (Round contribution margin per unit to 2 decimal places, es
5.75)
Contribution margin
Unit contribution margin
Contribution margin ratio
eTextbook and Media
$
C
41250
0/20
10
25
A business's contribution margin – additionally referred to as the gross margin – is the money left over from sales after paying all variable fees related with producing a product. Subtracting constant expenses, such as rent, equipment leases, and salaries from your contribution margin yields your internet income, or profit.
Calculation of Margin Ratio
The formula of Contribution margins is = sales price - variable costs
The sales price is $40 per unit.
The the variable costs per units will be total variable cost / total units
After that total variable costs will be 75% of sales
Then = 4,125 x $40
Now =$165,000
The variable cost will be 75/100 x 165,000
=0.75 x 165,000
After that =$123,750
The variable cost per item is $123, 750 / 4125
Then the variable cost per unit is $30
After that (Total)Contribution margin is sales - variable costs
=$165,000 - $123,750
Therefore =$41,250
Then Contribution margin per unit will be $40- $30
The contribution margin per unit is $10
Contribution margin ration is = total revenue - variable costs/revenue
= $165,000 - $123,750/$165,000
=41,240/ 165,000
=0.25
=As a percentage, contribution margin ratio = 25%
Then Break-even point using contribution margin technique
After that Break-even in units = fixed cost/ contribution margin per unit
= $16,500/ 10
Therefore, =1650 units
Break-even in dollars is = Breakeven units x selling price
=1650 x 40
Therefore, =$66,000
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brainly.com/question/8189926#SPJ13registered office, and the name and address of each incorporator.
Kelly lives in Arkansas and works in the data division of Acxiom Corporation. Acxiom has its headquarters in Conway, Arkansas. Acxiom i
incorporated in Delaware, however, because of the corporate-friendly laws in that state. Kelly works in a what?
Kelly works in a foreign corporation because Acxiom is incorporated in a different state than the division where Kelly works.
What is corporation?
A corporation is an organization usually a collection of people or a business that has been permitted by the state to act as a single entity and is legally recognised as such for certain purposes. The majority of governments currently permit the formation of new corporations through registration. Corporations come in a variety of forms, but are often classified by the law of the jurisdiction in which they are chartered based on two factors: whether they can issue stock or if they are founded to generate a profit.
As a result, we can conclude that Kelly works for a foreign firm, as it cannot be deemed an alien corporation due to its location in a separate state.
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Which person would be least likely to be needed on a selection committee for national sales manager
a. chief financial officer
b. director of human resources
c. director of marketing
d. vice president of sales
Answer:
A. Chief Financial Officer
Hope this helps :)
Which Industry tab report can be used to compare the US retail trade industry and the global retail trade industry?
Snapshot
Earnings & Drivers
GeoRev
Macro Factors
Macro Factors can be used to compare the US retail trade industry and the global retail trade industry. Thus, option D is correct.
What is the industry?An industry can be defined as an organization that is set up to create a product. This product is sold to the customer or consumer. It takes the raw material and then processes it to make a finshed good.
The US retail industry and the global written industry are all part of a macro factor, and within this factor are various fundamentals such as fiscal deposits and revenues.
Therefore, option D is the correct option.
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review the 60 Minutes video on Mark Zuckerberg
The person name and their position at the company
Examples of how their leadership style or qualities impact employee performance and morale
The leader's leadership style has an impact on group performance and goal achievement since it influences employee behavior.
What is leadership about?A leader's leadership style relates to how he or she directs, motivates, and manages others. A person's leadership style also influences how they strategize and implement plans while keeping stakeholders' expectations and the well-being of the team in mind.
Managers are in charge of guaranteeing team success, fostering a pleasant environment, and solving challenging problems. It motivates people to work harder and see their leaders as more effective.
Effective leadership requires strong communication, inclusiveness, and empowerment, and it has a beneficial effect on morale. A team's morale will rise when communication from the top to the bottom improves under competent leadership.
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If a firm has retained earnings of $2.4 million, a common shares account of $4.4 million, and additional paid-in capital of $8.8 million, how would these accounts change in response to a 10 percent stock dividend? Assume market value of equity is equal to book value of equity.
The accounts change in response to a 10 percent stock dividend assume market value of equity is equal to book value of equity by :
Retained earning decrease to $1.08 millionCommon shares increase to $4.84 million Additional Paid-in Capital increase to $9.68 millionStock dividendFirst step is to stock dividend using this formula
Stock dividend = Rate × ( Common shares account + Additional paid - in capital )
Let plug in the formula
Stock dividend = 10% × ( $4.4 million + $8.8 million )
Stock dividend = 10% × $13.2 million
Stock dividend = $1.32 million
The calculation above represents a reduction in the retained earnings account. Hence,
Retained Earnings :
Retained Earnings = $2.4 million - $1.32 million
Retained earnings = $1.08 million (decrease)
Common Shares :
Common Shares = $4.4 million × 110%
Common shares = $4.84 million ( increase )
Additional Paid-in Capital:
Additional Paid-in Capital = $8.8 million × 110%
Additional Paid-in Capital = $9.68 million ( increase )
Therefore retained earning decrease, common shares and additional paid in capital increase.
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An inactive broker may be an on-site property manager as an employee of the landlord.
Select the correct response:
True
False
The assertion is accurate. An inactive broker could work for the landlord as an on-site property manager. An inactive broker may conduct this because it is not required to have a license.
What options does a non-licensed property manager have?approve lease requests or rental applications. On behalf of the landlord or broker, settle or organize the lease's terms and conditions. offer incentives to potential tenants unless they have been pre-arranged with the owner or broker or are already posted.Does Texas require a license to practice property management?Additionally, salaried employees of the employer are permitted to manage and lease real estate they own so long as the employer has a real estate license.
Short version: To manage property in the state of Texas, owners and senior supervisors often need a real estate license.
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Warner Corporation purchased a machine 7 years ago for $342,000 when it launched product P50. Unfortunately, this machine has broken down and cannot be repaired. The machine could be replaced by a new model 300 machine costing $334,550 or by a new model 200 machine costing $300,200. Management has decided to buy the model 200 machine. It has less capacity than the model 300 machine, but its capacity is sufficient to continue making product P50. Management also considered, but rejected, the alternative of dropping product P50 and not replacing the old machine. If that were done, the $300,200 invested in the new machine could instead have been invested in a project that would have returned a total of $432,600.
Part-1: Computation of Differential Cost:
Cost of Model 300 Machine $334,550.00
Less: Cost of Model 200 Machine $300,200.00
Differential Cost $34,350.00
Part-2: Sunk Cost= Cost of Machine Purchased
Hence, Sunk Cost will be $342000
Part-3:
Opportunity Cost= Return from New Project
Opportunity cost will be $432600
Differential fee refers to the distinction among the fee of opportunity decisions. The fee happens whilst a commercial enterprise faces numerous comparable options, and a preference need to be made through selecting one alternative and losing the other.
Example of opportunity decisions. If you've got a choice to run a completely computerized operation that produces 100,000 widgets in line with 12 months at a fee of $1,200,000, or of the use of direct hard work to manually produce the identical range of widgets for $1,400,000, then the differential fee among the 2 options.
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Which one of the following sentences contains NO errors? A. Groups with high levels of group cohesion and good social relations tend to be the most affective groups. B. Teams who’s members have different backgrounds tend to be more innovative than teams with similar backgrounds. C. Interpersonal skills, problem-solving skills, and teamwork skills may be used as selection criteria for group members. D. The differences found by researchers reflects both different research approaches and different types of teams studied.
interpersonal skills, problem-solving skills, and teamwork skills may be used as selection criteria for group members is the one sentence that contains no errors in grammar, punctuation, spelling, sentence structure, or word usage.
A set of rules known as grammar address linguistic structure. Language grammar regulations cover matters such as word order, person, tense, and number usage. Clear communication and understanding are facilitated by the proper use of grammar in both speech and writing.
Any violation of grammar rules by a speaker or writer constitutes a grammatical error. A writer may spot a grammatical mistake if their writing is unclear or awkward-sounding. Learning grammar principles is the greatest approach to spot grammatical faults, though. Word placement problems are frequently made in English. The normal pattern of sentence formation is referred to as word order.
The complete question is, "Select the sentence that contains NO errors in grammar, punctuation, spelling, sentence structure, or word usage. Which one of the following sentences contains NO errors?
A. Groups with high levels of group cohesion and good social relations tend to be the most affective groups.
B. Teams who's members have different backgrounds tend to be more innovative than teams with similar backgrounds.
C. Interpersonal skills, problem-solving skills, and teamwork skills may be used as selection criteria for group members.
D. The differences found by researchers reflects both different research approaches and different types of teams studied."
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Involving employees in the development of safety policies, reviewing details of accidents, recommending corrective action,
and participating in safety inspections help ensure employee interest buy-in.
An OSH policy that the employer is committed to and that is shared with all employees should be laid out in writing after consultation with the workforce and their representatives.
How can workplace health and safety be managed?
An essential component of running a business is controlling safety and health. Businesses must conduct a risk assessment to identify the hazards and dangers present in their workplace(s) and put appropriate control measures in place to ensure that these risks cannot endanger employees.
ILO-OSH 2001 is a set of guidelines for developing occupational safety and health management systems.
Worker involvement
The OSH management system within the company must include worker participation.
The employer is responsible for making sure that employees and their representatives for safety and health are included in all OSH-related decisions at work, including emergency plans.
When organizing, planning, implementing, evaluating, and taking corrective action to enhance the OSH management system, the employer should make sure that employees and their representatives for safety and health have the time and resources necessary.
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Suppose a production function is given by F(K, L) = KL 2 ; the price of capital is $10 and the price of labor $15. What combination of labor and capital minimizes the cost of producing any given output?
The optimal combination of labor and capital that minimizes the cost of production at any given output is given as 0.75. See the computation below.
An isoquant curve is a concave line drawn on a graph that depicts all possible combinations of two inputs that result in the same amount of output. An isoquant often depicts capital and labor combinations, as well as the technical trade-off between the two.
Profits can be increased by reducing overall expenses. If multiple alternative factor input combinations may be employed to create the optimal level of production output, the profit-maximizing business should choose the lowest-cost combination of inputs.
Hence the calculation for the above is given as:
At an optimal point, MPL / MPK = price of labor/price of capital
2KL/L^2 = 15/10
2K/L = 3/2
K/L = 3/4 = 0.75
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inventories derived from the empirical method sometimes have items that seem strange or even objectionable to test takers ________.
Inventories derived from the empirical method sometimes have items that seem strange or even objectionable to test takers because those items correlated with outcomes of interest to test developer.
Both the raw materials which is used in manufacturing and the finished commodities that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory because it is one of the main sources of generating revenue, interest and, consequently, a source of profits for the shareholders of the company. There are three different categories of inventory: finished commodities, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset. Inventory is a crucial asset for any business. It is described as the assortment of raw materials or completed products that a corporation keeps on hand for everyday business operations.
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Which financial activity helps a company based in another country?
OA.
0 в.
foreign direct investment
market value
OC. price floor
OD.
productivity
The financial activity helps a company based in another country is foreign direct investment.
What is financial activity ?Financial activities are transactions between a company and its lenders and owners to obtain or return resources. In other words, financing activities finance the business, repay lenders and provide owners with a return on invested capital. Financial activities include Issuing and repurchasing shares.
Financing details are important to both investors and corporate lenders. Reflection of these activities determines the effectiveness of the fund of the company. It shows the organization's ability to raise money and manage finances.
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the upscale hotel chain hilton wants to compare its growth to another benchmark company. what company should it compare itself to?
The upscale hotel chain Hilton should compare its growth with Marriott which is also an upscale hotel chain.
Operations in hotels can vary in size, purpose, complexity, and expense. To categorize different hotel kinds, the majority of hotels and significant hospitality organizations have established industry standards. Luxury facilities, full-service lodging, an on-site restaurant, and the greatest level of individualized attention, such as a receptionist, room service, and employees to press clothes, are all features of an upscale full-service hotel facility. In addition to numerous full-service rooms, an on-site full-service cafeteria, and a number of other on-site amenities, full-service hotels frequently have luxury full-service facilities. Smaller, independent, non-branded hotels known as "boutique hotels" frequently have luxury amenities. Small to medium-sized hotels only provide a few amenities on the premises.
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Krammer Company has liabilities equal to one fourth of the total assets. Krammer's stockholders' equity is $45,000. Using the accounting equation, what is the amount of liabilities for Krammer?
Accounting Equation is the basic equation which is fundamental to an entity. It depicts the relationship between assets, liabilities and owner's equity of an entity. As per accounting equation,
Assets = Liabilities + Owner's Equity
Liabilities of Krammer Company = one-fourth of the total assets.
Let the amount of liabilities be X.
Therefore,
X = Assets x 1/4
Assets = X x 4 = 4X
Owner's Equity = $45,000
As per the accounting equation,
Assets = Liabilities + Owner's Equity
Therefore, Liabilities = Assets - Owner's Equity
X = 4X - 45,000
4X - X = 45,000
3X = 45,000
X = 45,000/3 = $15000
Total liabilities of Krammer Company = $15,000
The entire assets of a corporation are equal to the sum of its liabilities and shareholders' equity, according to the accounting equation.
The basic idea behind the double-entry accounting system is that assets, liabilities, and equity have a clear relationship with one another. The balance sheet is kept in balance thanks to the accounting equation. In other words, every debit entry has a corresponding credit entry (or coverage) on the other side of the ledger.
The balance sheet equation or fundamental accounting equation are other names for the accounting equation.
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What is limited liability?
State for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. also, indicate its normal balance.
Typical Entrees Normal Balance
1. Accounts Payable -
2. Cash -
3. Dividends -
4. Miscellaneous
5. Insurance Expense
6. Fees earned
Answer:
Explanation:?
Suppose that in a certain country called Litigia, patients do not have the legal right to sue their medical insurance providers.
Now, suppose, however, that Litigia's government passes legislation that no longer protects medical insurance providers from lawsuits, so that patients in Litigia can now sue their insurance providers.
After the legislation is passed, what will happen to the price of medical insurance and the number of medical insurance policies sold?
The price will decrease, and the number of medical insurance policies sold will also decrease.
The price will increase, while the number of medical insurance policies sold will decrease.
The price will decrease, while the number of medical insurance policies sold will increase.
The price will increase, and the number of medical insurance policies sold will also increase.
C) The price will decrease, while the number of medical insurance policies sold will increase.
What is legislation?Legislation is the process by which local, state, or federal legislatures draft and enact laws. It is occasionally used to refer to municipal ordinances as well as the rules and regulations passed by administrative bodies while they were performing their delegated legislative duties.
The legislation involves participation from the executive branch in addition to action by a legislative body. Unless the executive's veto is overridden by a large enough majority in each house of the legislature, legislation cannot become law without the executive's concurrence. Additionally, the executive's job involves much more than just consent or opposition.
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Opening Discussion:
Define 'Private Enterprise' in your own words
What terms come to mind that relate to 'Private Enterprise?'
Private sector refers to that sector of the economy in which the means of production are owned by private individuals and is used only for the purpose of promoting individual interests and obtaining profit. Today the meaning of private sector has changed to a great extent.
Where till the 19th century, private enterprise meant an enterprise that was owned by one or two persons, but today it refers to those enterprises whose ownership was divided among several shareholders and the enterprise was operated by professional managers. is done.
The private sector in India originated in 1833, while the East India Company ceased to function as a monopoly trading company. The Chartered Act of 1833 paved the way for the introduction of the management agent system in India.
Although the public sector has been given more importance in the planned economic development of India, yet the private sector has also played an important role in it.
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. See around you and pick up a firm which is either dominating the market or trying to create monopoly.
• (a) Write in brief about the firm chosen and explain how the firm is trying to create a monopoly or dominating the market?
• (b) Elaborate your opinion, why we as a society should worry about a firm trying to create a monopoly?
• (c) Discuss some policy options a government could have to intervene in such market and prevent the monopoly creation.
The firm that is dominating the market or trying to create monopoly is electricity companies in united states.
This firm is trying to create a monopoly or dominating the market because they are producing the unit of electricity at cheaper rate and buying up the competition.
As society we should worry about a firm trying to create a monopoly because at long run, he will be dictating the market as well as price in the market.
The policy options a government could use to prevent the monopoly are:
Price cappinglimiting price increasesRegulation of mergers Breaking up monopolies.What is monopoly?A monopoly ca e described as the act where by in the market there will no competition as a result of the domination of the market by single firm.
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Categorize each scenario as describing a movement along a demand curve or a shift of the demand curve.
a. College students rush and buy discount furniture to take advantage of a one-day sale
b. Students eat out more often as the federal government increase how much grant money it provides
c. College students reduce how detergent they for each of laundry response to higher detergent prices.
d. College students purchase many more energy drinks during finals week than during the rest of the semester.
The scenario that causes shift of the demand curve are (b) and (d), and scenarios that causes movement along the demand curve are option (a) and (c).
Shift in the demand curve- There is shift in demand curve if one or several other factors cause a variation in the amount required of a particular commodity at each attainable price. The important point to keep in mind is that other factors, such as the consumer's income and tastes as well as the prices of other goods, etc., that were expected to remain constant, altered. The shift in demand curve could be either left or right depending on the factors.
Changes in the price of products produce movement along the Demand Curve. The demand for a product is further affected by this. Apart from that, nothing else has altered. In this case, the price is plotted against the Y-axis, and the graph moves along it. The opposite axis, meanwhile, doesn't change.
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How do Jamie Lee’s expenses compare to her new reduced income?
A. Expenses are $635 greater than income
B. Expenses are $985 greater than income
C. Expenses are $830 greater than income
D. Expenses are $1,180 greater than income
Answer:
It's A I'm not exactly sure if that's correct though
Which report all you to view all investment research consumed across the entire FactSet platform for a given period?
Blackline Report
Quick Report
Readership Report
Constituents Report
The report allows one to view all investment research consumed across the entire FactSet platform for a given period as the Constituents Report. Hence, Option D is correct.
What is the FactSet platform?FactSet platform is provided by a company that is in the software field. In 1978, Chuck Snyder and Howard Wille established FactSet. They started working together in 1977 while both were employed by Faulkner, Dawkins & Sullivan on Wall Street.
Wille and Snyder made the decision to strike out on their own and test their notion for a business that could supply computer-based financial information after Shearson acquired Faulkner, Dawkins and Sullivan and the enterprise began to grow.
Therefore, Option D is correct.
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e-commerce sites use transport layer security (tls) to encrypt data and protect you from fraud and identity theft.
a. True
b. False
Answer:
The answer is A. True
True, e-commerce sites employ transport layer security (TLS) to encrypt data and protect you from fraud and identity theft.
What is the e-commerce site?An e-commerce website or site countenances individuals to buy and sell physical items, digital products, and services through the internet rather than at a physical store, it is just opposite to the modern commerce.
Most of the business and every type of businesses can use an e-commerce website to receive payments, handle orders, manage shipping and logistics, and also furnishes the customer care services. This site uses the transport layer services to protect the users from fraud.
This service is not only protect the users, but also find the theft who uses wrong thing and solicit the users. Having your own ecommerce website allows you to gain a better understanding of your clients.
This includes demographic message such as their location, as well as how they discovered the website and learned about the persons.
Therefore, the above statement is true.
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Which of the following is the best guest greeting for a woman carrying a briefcase, speaking rapidly into her phone about an agenda for a big corporate meeting the next day?
(whispering) "Welcome! Here are your room keys, 8th floor, and instructions on how to access our digital business features.”
"Welcome! Here are your room keys, 4th floor, and here are some tokens you can use for our game room on the 2nd floor.
"Welcome! Here are your room keys, 5th floor, and here is a voucher for some complimentary champagne and cake at our restaurant."
"Welcome! Here are your room keys, 10th floor. I'll send up some bagels, tea, and coffee to your room right away.”
Answer:
I think A is the best answer for you.
Explanation:
A is the only one giving her instructions on access for digital business cause she has a meeting the next day
Answer:
"Welcome! Here are your room keys, 5th floor, and here is a voucher for some complimentary champagne and cake at our restaurant." Explanation:
The woman , by her description is obviously older and sophisticated, and she has a lot on her hands. Offering this may help her wind down and be calm before her big corporate meeting the next day
Use the diagram below to answer the following questions. Assume an initial market price of $4.
a. Identify the initial area of consumer surplus (CS1) when the market price is $4. Next, assume that supply decreases and the market price rises to $5. Draw the new supply curve and then identify the new area of consumer surplus (CS2).
Instructions: (1) Use the tool provided 'CS1' to identify the initial area of consumer surplus. This will drop a small triangle with three endpoints onto the graph. Drag the endpoints to the appropriate position to identify the initial area of consumer surplus. (2) Then use the tool provided 'S2' to draw the new supply curve. (3) Use the tool provided 'CS2' and follow the same process as before to identify the second area of consumer surplus. (graph that needs to be filled out is below)
b. Due to the increase in price, consumer surplus
rises by more than $50
falls by less than $50
rises by less than $50
falls by more than $50
The above question is about Consumer Surplus. The supply curves have been indicated accordingly.
The Original Consumer Surplus (CS1) = $12.5The new consumer surplus (CS2) = $4.5Due to the increase in the prices, ΔCS falls by less than $50 (Option B)What is Consumer Surplus?The difference between what a consumer is prepared to pay and what they spent for a product is referred to as the consumer surplus. The difference between the market price and the lowest price a producer is prepared to take to create an item is the producer surplus.
The mathematical Expression for Consumer Surplus is given as follows:
CS = 1/2 (Equilibrium Q)(WTP price - Equilibrium price)
WTP - Willingness to Pay ( or Effective Demand)
CS1 = 1/2(5) (9-4)
= 1/2 * 5 * 5
= 25/2
CS1 = $12.5
CS2 = 1/2(4)(9-5)
= 2 *4
CS2 = $8
To determine the extent by which Consumer Surplus is reduced, we say
CS1 - CS2
= 12.5 - 8
ΔCS = $4.5
Hence, because of the rise in prices, Consumer Surplus fell by less than $50.
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When we're learning well, we tend to search out the answers to what four key questions?
Answer:
why, what, how, what if
Explanation:
The four key questions we tend to search out the answers when we're learning well are Why, What, How and What If.
What do you mean by Learning?Learning is a process that leads to change, which occurs as a result of experience and enhances the potential for increased performance and future learning," according to the definition.
An easy technique to set the learning agenda for students is to frame the learning in a lesson or throughout a series of lessons using a "key learning question." It is an alternative to the standard "learning objective," substituting a provocative question for a statement of what students will learn or what they will aspire to acquire. The teaching and learning will then endeavor to address or respond to the question.
As a result, The four key questions we tend to search out the answers when we're learning well are Why, What, How and What If.
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Match the definitions with the terms.
a detailed strategy for marketing a specific product or service
the value created by having a strong brand with strong customer perception
a team's or game's capacity to appeal to its customers through the experience it provides
a marketing strategy in which a company uses an existing brand and applies it to a new product
a company's long-term goal of howlt intends to build a successful brand image
the process of managing planning, and overseeing all the elements of a game from the time the doors open to the time they close
Answer:
rat
Explanation:
Which of the following items are not included in working capital?
Accounts payable, wages accrued, and notes payable are all current obligations. Since fixed assets are non-current, they are held for the long term in order to produce revenue. They are not taken into account when calculating a business's working capital.
What the working capital means?Working capital is simply the money you have on hand to pay your immediate, urgent obligations. Calculate your present levels, forecast your future requirements, and think about ways to ensure you always have enough cash to ensure that your working capital is working for you.
A company's working capital is determined by taking its current assets and subtracting its current liabilities. For instance, if a business has $100,000 in current assets and $80,000 in current liabilities, its working capital would be $20,000.
Working capital, which is made up of inventories, accounts receivable, accounts payable, and cash, is managed by a well-run company to control short-term debt as well as present and upcoming operational costs.
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Lupe is a student who wants to open a bank account.
Which type of bank is most likely the best option for her needs?
a retail bank
a savings and loan
a commercial bank
an investment bank
The type of bank which is most likely the best option for Lupe's needs is a retail bank.
What is a retail bank?This a type of bank which gives or provide financial services to individual and small businesses. Here, people perform transactions daily with their bank which includes checking account.
Retail bank provides services to everyday people; general public who needs to take care of their personal financial needs. Services provided by retail banks are checking account, saving and personal loans.
Other types of banks are
Savings and loanCommercial banksInvestment banksMerchant banks.Hence, we can infer that Lupe should open a retail bank account since he is a student and not a corporate entity.
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