Walmart is a multinational retail corporation that was founded in 1962 by Sam Walton. It has grown to become one of the largest companies in the world, offering a wide range of products and services to customers globally.
Walmart was incorporated in 1969 and since then has experienced significant growth and success. It was founded by Sam Walton with the vision of providing affordable and quality products to customers. The company initially started with a single discount store in Rogers, Arkansas, and gradually expanded its presence across the United States.
Over the years, Walmart has diversified its offerings and currently provides a comprehensive range of products and services. It operates various types of stores, including Walmart Supercenters, Walmart Discount Stores, Neighborhood Markets, and Sam's Club. The company offers groceries, clothing, electronics, household items, furniture, health and beauty products, automotive supplies, and much more.
In addition to retail stores, Walmart has also expanded its online presence through its e-commerce platform, allowing customers to conveniently shop for products online and have them delivered to their doorstep. Walmart also provides services such as pharmacy, financial services, and photo printing.
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which of the following circumstances most likely would cause an auditor to suspect that material misstatements exist in a client's financial statements?
A. The assumptions used in developing the prior year's accounting estimates have changed.
B. Differences between reconciliations of control accounts and subsidiary records are not investigated.
C. Negative confirmation requests yield fewer responses than in the prior
D. Management consults with another CPA firm about complex accounting matters.
D. Management consults with another CPA firm about complex accounting matters.
When management consults with another CPA firm about complex accounting matters, it may indicate that they are seeking alternative opinions or interpretations of accounting rules. This can be a red flag for the auditor because it suggests that there may be areas of uncertainty or potential misstatements in the client's financial statements. The auditor would need to thoroughly investigate these matters to ensure the accuracy and integrity of the financial reporting. Complex accounting matters refer to financial transactions or events that involve intricate or challenging accounting principles, rules, or interpretations. These matters often require professional judgment and expertise to determine the appropriate accounting treatment and financial reporting.
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if demand for the next several weeks is as shown and the eoq is 580, using the period order quantity, the next order will be for ___ units. A.180 B.390 C.450 D.250
The correct option is A. Based on the information given, the demand for the next several weeks and the EOQ of 580,
we can calculate the Period Order Quantity (POQ) using the formula: POQ = √(2SD/H), where S is the setup cost, D is the annual demand, and H is the holding cost per unit. Using the Period Order Quantity (POQ) method, the next order quantity can be determined by dividing the total demand for the next several weeks by the Economic Order Quantity (EOQ) of 580 units. As the specific demand values for the next several weeks are not provided, I am unable to calculate the exact number of units for the next order. However, once you have the demand values, simply divide the total demand by 580 to determine the appropriate answer from the options.
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which of the following examples illustrates the legal-political conditions in the general environment?
Legal-political conditions in the general environment refer to the influence of governmental laws, regulations, and political factors on businesses and organizations.
Examples of these Legal-political conditions regarding the include:
1. Taxation policies: Governments impose taxes on individuals and businesses, which can impact the profitability and growth of organizations.
2. Employment laws: These are rules and regulations that govern the rights and responsibilities of employers and employees, such as minimum wage, working hours, and workplace safety.
3. Trade policies: Governments may establish trade agreements, tariffs, or quotas to regulate imports and exports, which can affect the competitiveness of businesses in the global market.
4. Environmental regulations: Laws and policies aimed at protecting the environment, such as emission standards and waste management guidelines, can influence the operations and practices of organizations.
5. Political stability: The stability of a country's government and political system can impact the general business environment, as businesses may be hesitant to invest in politically unstable regions.
These are just a few examples that illustrate the legal-political conditions in the general environment, which can significantly influence the operations and growth of businesses and organizations.
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The major revenue drivers, which are the ways a business earns money, should be first identified in "The Economics of the Business" section of the business plan.
The major revenue drivers, which are the ways a business earns money, are crucial components to be identified in "The Economics of the Business" section of the business plan. These drivers serve as key indicators of the business's potential and help in forecasting its profitability.
Understanding the economics of a business involves analyzing various factors such as market demand, competition, pricing strategies, and production costs, which in turn define the business model and potential revenue streams.
By identifying revenue drivers in the business plan, you can develop strategies to maximize profits and ensure sustainable growth.
In the business plan, the revenue drivers are typically presented along with other important aspects of the economics of the business, such as the target market, competitive landscape, and financial projections.
This information helps stakeholders, such as investors or partners, evaluate the viability and potential return on investment of the business.
By highlighting major revenue drivers and detailing the economics of the business in the business plan, you create a solid foundation for decision-making, resource allocation, and future growth strategies. This information is essential for setting achievable goals and measuring the success of the business over time.
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employees of a nonprofit corporation can contribute to a(n)
a. 401(k).
b. Keogh plan.
c. 403(b).
d. HR10.
e. 501(c)3.
403(b).The 403(b) retirement plan is specifically designed for employees of nonprofit corporations, providing them with an opportunity to save for retirement while receiving tax advantages.
Employees of a nonprofit corporation can contribute to a 403(b) retirement plan. A 403(b) plan is a tax-advantaged retirement savings plan available to employees of certain nonprofit organizations, such as educational institutions, hospitals, and religious organizations. It allows employees to contribute a portion of their income to the plan on a pre-tax basis, meaning the contributions are made before taxes are deducted from their salary. This allows employees to reduce their taxable income and save for retirement.
By contributing to a 403(b) plan, employees can take advantage of the benefits offered by this type of retirement savings vehicle.
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the most difficult part of creating job descriptions for project managers is figuring out how to differentiate the roles and responsibilities of various pay grades of project managers.A. TrueB. False
The statement is true because differentiating the roles and responsibilities of various pay grades of project managers can be a complex task.
When creating job descriptions, it is essential to clearly define the expectations, responsibilities, and required skills for each pay grade. This may involve analyzing the scope of the projects managed, the level of authority and decision-making power, and the degree of expertise needed for each role.
Additionally, it is important to consider factors such as team size, budget, and project complexity when differentiating between pay grades. A thorough understanding of project management practices and industry standards can help in creating accurate and effective job descriptions for project managers at various pay levels.
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carson is the manager of cutter's consulting, a consulting company composed of professionals from different fields. in such a company, carson would be wise to
In such a company, Carson would be wise to leverage the diverse expertise of the professionals and encourage collaboration among them.
As the manager of Cutter's Consulting, Carson can benefit from the collective knowledge and experience of professionals from different fields. It is important for Carson to foster a culture of collaboration and teamwork, encouraging professionals to share their expertise and work together on projects. This can lead to innovative solutions, a broader perspective on client issues, and the ability to tackle complex problems from multiple angles.
Carson should also focus on facilitating effective communication among team members, creating opportunities for knowledge sharing, and promoting a supportive and inclusive work environment. By valuing and respecting the diverse perspectives and skills of the professionals, Carson can harness the full potential of the team and provide comprehensive and valuable consulting services to clients.
Additionally, Carson should prioritize continuous learning and professional development to keep up with the latest trends and advancements in various fields. This will help ensure that Cutter's Consulting stays competitive and provides clients with up-to-date and relevant advice.
Overall, by leveraging the diverse expertise of the professionals, promoting collaboration, effective communication, and continuous learning, Carson can maximize the capabilities of Cutter's Consulting and deliver exceptional value to clients.
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world trade organization (wto) is an organization that replaced gatt; the wto sets trade rules for its member nations and mediates disputes between nations.T/F
True, the World Trade Organization (WTO) replaced the General Agreement on Tariffs and Trade (GATT) in 1995. The WTO sets trade rules for its member nations and mediates disputes between them.
The World Trade Organization (WTO) was established in 1995 to replace the General Agreement on Tariffs and Trade (GATT). The WTO's primary purpose is to set trade rules and regulations for its member nations, as well as to resolve disputes between nations regarding trade issues.
This organization aims to promote free and fair trade globally, while also supporting the economic development of its member nations
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The consumption function of an economy is given as: C = 60 + 0.6Y. For the given consumption function, calculate the break-even level of income.
The break-even level of income in this economy is $150. At this income level, individuals consume all of their income, resulting in no savings or borrowing.
To calculate the break-even level of income, we need to find the level of income where consumption (C) equals income (Y).
In other words, it is the point where individuals spend their entire income on consumption without saving or borrowing.
Given the consumption function C = 60 + 0.6Y, we can set C equal to Y and solve for Y.
60 + 0.6Y = Y
Simplifying the equation, we subtract 0.6Y from both sides:
60 = 0.4Y
To isolate Y, we divide both sides by 0.4:
Y = 60 / 0.4
Y = 150
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a communicator might try to build ________ by comparing quality, value, performance, and other features to those of likely competitors.
A communicator might try to build differentiation by comparing quality, value, performance, and other features to those of likely competitors.
Differentiation is a strategic approach in marketing and communication that aims to highlight unique qualities or attributes of a product, service, or brand that set it apart from competitors. By emphasizing the distinctive features, benefits, or value proposition, a communicator can create a perception of superiority and uniqueness in the minds of the target audience. Comparing and contrasting these attributes with those of likely competitors helps in positioning the offering as superior or more favorable in the market. Effective differentiation can lead to competitive advantages, increased market share, and customer loyalty.
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A fund that is structured to match the performance of a certain market segment is known as a(n) ________ fund.
a) balanced
b) preferred stock
c) exchange traded
d) index
e) capital
The correct answer is d) index fund. An index fund is structured to match the performance of a specific market segment or index. It is designed to replicate the performance of a particular benchmark index, such as the S&P 500 or the Dow Jones Industrial Average.
The fund's portfolio is constructed to closely mimic the composition and weighting of the securities in the index it aims to track. By doing so, index funds provide investors with broad market exposure and seek to deliver returns that align with the performance of the targeted market segment.
Options a), b), c), and e) are not the correct answers in this context:
a) Balanced funds are investment funds that typically hold a mix of stocks, bonds, and cash equivalents. They aim to provide a balanced allocation between different asset classes to manage risk and generate moderate returns.
b) Preferred stock funds focus on investing in preferred stocks, which are a specific class of shares that typically offer fixed dividend payments and certain preferential rights but may have limited voting rights.
c) Exchange-traded funds (ETFs) are investment funds that are traded on stock exchanges, similar to individual stocks. While there are index funds that are structured as ETFs, not all index funds are ETFs. ETFs can track various types of assets, not just specific market segments.
e) Capital funds typically refer to private equity or venture capital funds that invest in private companies and provide capital for their growth or development. They are not specifically designed to match the performance of a market segment.
The correct answer is d) index fund.
An index fund is structured to match the performance of a specific market segment or index. It is designed to replicate the performance of a particular benchmark index, such as the S&P 500 or the Dow Jones Industrial Average.
The fund's portfolio is constructed to closely mimic the composition and weighting of the securities in the index it aims to track.
Options a), b), c), and e) are not the correct answers in this context:
a) Balanced funds are investment funds that typically hold a mix of stocks, bonds, and cash equivalents. They aim to provide a balanced allocation between different asset classes to manage risk and generate moderate returns.
b) Preferred stock funds focus on investing in preferred stocks, which are a specific class of shares that typically offer fixed dividend payments and certain preferential rights but may have limited voting rights.
c) Exchange-traded funds (ETFs) are investment funds that are traded on stock exchanges, similar to individual stocks. While there are index funds that are structured as ETFs, not all index funds are ETFs. ETFs can track various types of assets, not just specific market segments.
e) Capital funds typically refer to private equity or venture capital funds that invest in private companies and provide capital for their growth or development. They are not specifically designed to match the performance of a market segment.
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A vaccine marketed by a drug company has a known and constant demand of 1,200 units per year (or 100 units per month). The production cost is $720 per unit, the fixed setup cost is $2,400 per batch of production, and the holding cost per unit per year is $144. Lead-time for production is half a month. What is the optimal quantity per batch to produce? Choose the closest number if needed. 350 186 240 825 200 Now assume that the company's demand averages 100 units per month but is no longer constant. The monthly demand is normally distributed with mean 100. The company has been using a reorder point that provides a service level of 90%. Suppose management wants to provide a better service level and is thinking of doubling the amount of safety stock. What would be the service level if the safety stock is doubled? 98.1% 99.5% 92.8% 99.9% 95.5%
Optimal quantity per batch to produce:
The economic order quantity (EOQ) model can be used to calculate the optimal quantity of goods to produce for a given demand.
The EOQ equation is given by the following formula: EOQ=√2DS/H
where D is the annual demand for the product,
S is the fixed setup cost per batch of production,
H is the annual holding cost per unit.
The EOQ can be calculated by substituting the appropriate values into the formula.
Thus, EOQ = √[(2 x 1,200 x 2,400) ÷ 144] = √40,000 ≈ 200
Therefore, the optimal quantity per batch to produce is 200 units.
A service level of 90% implies that the probability of stock-out is 10%. Doubling the safety stock will have the effect of decreasing the probability of stock-out.
The new service level can be calculated using the following formula: Service level = 1 - Probability of stock-out Using the normal distribution table, the probability of stock-out can be found for a given number of standard deviations from the mean.
The number of standard deviations from the mean can be calculated using the following formula: Z = (Reorder point - Mean demand) ÷ Standard deviation of demand For a service level of 90%, the value of Z is found from the normal distribution table to be 1.28.
Thus, Z = 1.28The reorder point can be calculated as follows: Reorder point = Mean demand + Z x Standard deviation of demand
The standard deviation of demand is given by: Standard deviation of demand = √(Variance of demand)The variance of demand is given by the square of the standard deviation,
Variance of demand = Standard deviation of demand² = 100² = 10,000Therefore,Standard deviation of demand = √10,000 = 100The reorder point is calculated as follows: Reorder point = 100 + 1.28 x 100 = 228.8 ≈ 229
Therefore, the current reorder point is 229 units.
If the safety stock is doubled, the new reorder point will be: New reorder point = 229 + 100 = 329 units
The new service level can now be calculated: New service level = 1 - Probability of stock-out New Z value = (329 - 100) ÷ 100 = 2.29
The probability of stock-out can be found from the normal distribution table for a Z value of 2.29.
The table gives a probability of 0.0106.
Therefore, New service level = 1 - Probability of stock-out = 1 - 0.0106 = 0.9894 ≈ 98.9%
Thus, the new service level will be approximately 98.9%.Hence, the correct option is 98.9%.
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The market risk premium is 5.41% and the yield on a Treasury bond is 1.02%. What is the fair return on this stock?
Answer:
Explanation:
To calculate the fair return on a stock, we need to use the Capital Asset Pricing Model (CAPM), which is:
Expected Return = Risk-Free Rate + Beta x Market Risk Premium
In this case, we are given the market risk premium and the yield on a Treasury bond, which we can assume is the risk-free rate. Therefore:
Risk-Free Rate = 1.02%
Market Risk Premium = 5.41%
We are not given the beta of the stock, so we cannot calculate the expected return using CAPM. The beta of a stock measures the systematic risk of the stock compared to the overall market. Without knowing the beta, we cannot determine the fair return on the stock using this model.
a group of items that come one after another in succession is called:
A group of items that come one after another in succession is called a sequence. When items are arranged in a consecutive order, they form a sequence.
A sequence refers to a specific order or arrangement in which items follow one another. Each item in the sequence is typically related to the previous and subsequent items, creating a sense of continuity or progression.
Sequences can be found in various contexts, such as mathematics, literature, music, and even everyday life. This term is used to describe the organization or pattern of a series of items that follow one another in a specific order.
It is a fundamental concept in mathematics, computer science, and various other fields that deal with patterns, progression, or ordered sets of data. Each element in the sequence is related to the preceding and succeeding elements based on a defined rule or pattern. The elements can be numbers, letters, objects, or any other type of item that can be arranged in a specific order.
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__________ is an action taken by a manager to enforce the organization’s work standards and regulations.
Enforcement is an action taken by a manager to enforce the organization's work standards and regulations.
This involves ensuring that employees comply with established policies, procedures, and guidelines to maintain productivity, quality, and overall adherence to organizational rules. Enforcement can include various activities such as monitoring employee performance, conducting inspections or audits, implementing disciplinary measures when violations occur, providing corrective feedback, and reinforcing compliance through training and communication. By enforcing work standards and regulations, managers aim to create a consistent and accountable work environment that promotes the organization's values, meets legal and regulatory requirements, and supports the achievement of business objectives.
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Fairweather Securities Corp. (FSC), a registered broker-dealer, has invited several IARs from Econometric Advisory Services (ESA), a registered invested adviser that directs transactional business to FSC, to a seminar featuring a disquisition on current economic trends being presented by a leading economist. It would be permitted for FSC to cover which of the following expenses?
A) Registration fees for the seminar plus travel expenses
B) Travel and transportation fees, but not the seminar fee
C) Registration fees for the seminar
D) None; because ESA directs commission business to FSC, it would be an unethical business practice for FSC to pay any portion of the expenses
The correct option is (C) Registration fees for the seminar.
The reason is as follows:
Fairweather Securities Corp. (FSC), a registered broker-dealer, has invited several IARs from Econometric Advisory Services (ESA), a registered invested adviser that directs transactional business to FSC, to a seminar featuring a disquisition on current economic trends being presented by a leading economist.
FSC is permitted to cover the registration fees for the seminar as per ethical guidelines. But, it is prohibited to cover any other expenses like travel and transportation fees, as it may appear that they are offering gifts or other benefits to the IARs in return for the commission business that is directed to them. It is an unethical business practice for FSC to pay any portion of the expenses except the registration fees.
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If a company chooses to use mass media advertising rather than personal selling as a communication strategy, it is engaging in a _____ (push or pull?) strategy.
If a company chooses to use mass media advertising rather than personal selling as a communication strategy, it is engaging in a "pull" strategy.
Here's a step-by-step explanation:
1. Mass media advertising is a form of promotion that targets a large audience using channels like TV, radio, print, and online platforms.
2. This approach aims to create awareness and generate interest in the company's products or services among potential customers.
3. When consumers become interested, they "pull" the product or service through the distribution channels by expressing their demand to retailers or other intermediaries.
4. Retailers, in turn, order the products from the manufacturer, creating a demand-pull effect.
5. A pull strategy is different from a push strategy, which involves personal selling and direct promotions to intermediaries, such as wholesalers and retailers, to encourage them to stock and sell the products.
So, in summary, a company using mass media advertising instead of personal selling is engaging in a pull strategy, as it aims to generate consumer interest and demand for its products or services.
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adam smith's ________ refers to the process by which individuals acting in their own self-interest bring about a market outcome that benefits society as a whole.
Adam Smith's invisible hand refers to the process by which individuals acting in their own self-interest bring about a market outcome that benefits society as a whole.
The concept of the "invisible hand" was coined by the Scottish economist Adam Smith in his influential book "The Wealth of Nations."
Smith argued that when individuals engage in voluntary exchanges driven by their self-interest, they are guided by an invisible hand that promotes the overall well-being of society.
This is because, in the pursuit of their own goals, individuals are led to produce goods and services that are valued by others, thus contributing to economic growth, innovation, and the efficient allocation of resources.
Thus, the invisible hand represents the self-regulating nature of the market, where prices, competition, and individual choices interact to achieve societal benefits without centralized coordination.
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The Just-In-Time Training project involved training in four different areas: supplier management, negotiating skills, project management, and ____. Group of answer choices:A. software applicationB. contract writingC. document validationD. sponsor management
The Just-In-Time Training project involved training in four different areas: supplier management, negotiating skills, project management, and sponsor management
Option D is correct
Project management involves planning, organizing, and controlling resources to achieve specific goals within a defined timeframe. It is a discipline that is utilized across various industries and sectors to successfully complete projects of different sizes and complexities.
In the context of the Just-In-Time Training project, including project management as one of the training areas suggests that the organization recognized the importance of equipping individuals involved in the project with the necessary knowledge and skills to effectively manage and execute projects.
Training in project management would typically cover a range of topics, including:
Project initiation and planning: This involves defining project objectives, scope, deliverables, and identifying the necessary resources, timelines, and potential risks.
Project organization and team management: It includes establishing project teams, assigning roles and responsibilities, and ensuring effective communication and collaboration among team members.
Project scheduling and time management: This aspect focuses on creating project schedules, setting deadlines, managing dependencies, and monitoring progress to ensure timely completion.
Project budgeting and cost management: Training in this area would cover techniques for estimating project costs, tracking expenses, and ensuring efficient use of resources within budgetary constraints.
Project risk management: This involves identifying potential risks, assessing their impact, and developing strategies to mitigate or respond to them effectively.
Project monitoring and control: Training would include techniques for tracking project progress, evaluating performance, and implementing corrective measures when necessary.
Project communication and stakeholder management: This aspect emphasizes effective communication with project stakeholders, managing expectations, and addressing concerns or conflicts that may arise.
By providing training in project management, the Just-In-Time Training project aimed to enhance the participants' understanding of project management principles, methodologies, and best practices. This would enable them to plan, execute, and control projects more effectively, resulting in improved project outcomes and increased organizational success.
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we refer to a situation in which a few large firms can effectively control their industry as a(n) quizlit ir
We refer to a situation in which a few large firms can effectively control their industry as an: oligopoly.
An oligopoly is a market structure in which a small number of large firms dominate the industry and have significant market power. In an oligopoly, the actions and decisions of one firm can have a significant impact on the behavior and performance of other firms in the industry.
The firms in an oligopoly often have barriers to entry, such as high capital requirements or economies of scale, which make it difficult for new firms to enter the market and compete effectively.
The presence of a few large firms in an oligopoly can result in limited competition and potential collusion among the firms to control prices and market outcomes. Oligopolistic industries often exhibit interdependence among the firms, where they closely monitor and react to each other's actions.
This can lead to strategic behavior, such as price leadership, product differentiation, or aggressive marketing campaigns, aimed at gaining a competitive advantage.
Overall, an oligopoly represents a market structure where a small number of powerful firms have the ability to shape and control the industry dynamics, making it distinct from more competitive market structures like perfect competition or monopolistic competition.
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Complete question:
we refer to a situation in which a few large firms can effectively control their industry as a(n)
according to the u.s. equal employment opportunity commission, the definition of sexual harassment includes all of the following except which? group of answer choices unwelcome sexual advances physical conduct of a sexual nature distinguishing based on ge
The definition of sexual harassment, according to the U.S. Equal Employment Opportunity Commission (EEOC), includes unwelcome sexual but does not include distinguishing based on gender.
The EEOC defines sexual harassment as unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.
This definition encompasses various forms of harassment, such as unwanted sexual advances, inappropriate comments, touching, or other conduct that is sexual in nature. However, the EEOC's definition does not include distinguishing or differentiating treatment based on gender.
Sexual harassment is primarily concerned with unwanted and offensive behaviors of a sexual nature that create a hostile or intimidating work environment. It is important to address and prevent sexual harassment in the workplace to ensure a safe and inclusive environment for all employees.
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which of these is considered an external environmental force? multiple choice a. human resourcesb. production c. competition d. marketing
The option that is considered an external environmental force is c) competition.
Competition is considered an external environmental force because it comes from outside the organization and influences the business's strategies and decisions. Human resources, production, and marketing are all internal factors within the company.
Competition is considered an external environmental force that affects a business or organization. It refers to the rivalry and interaction between companies or entities operating in the same industry or market.
External environmental forces are factors that are outside the direct control of a business but can significantly impact its operations, strategies, and overall performance. These forces can influence a company's ability to compete, succeed, and meet the needs of its target market.
In summary, competition (option c) is the external environmental force among the options provided as it represents the external rivalry and market dynamics that impact a business.
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we are more likely to help someone attractive to us. businesses donate money to improve their image. we give rides thinking we may need one in the future. these are examples of:
These are examples of various psychological and social factors that can influence human behavior and decision-making. Specifically, they can be categorized as examples of: Physical attractiveness bias,Corporate social responsibility (CSR) , Reciprocity and expectation of future favors
Physical attractiveness bias: People are more likely to help someone who is attractive to them based on their subjective preferences and judgments of beauty.
Corporate social responsibility (CSR): Businesses may engage in philanthropy and donate money to improve their public image and enhance their reputation among customers, employees, and the general public.
Reciprocity and expectation of future favors: The act of giving rides to others with the expectation that one may need a favor or assistance in return in the future is an example of reciprocity, where individuals expect mutual exchanges and benefits over time.
Overall, these examples highlight the influence of personal preferences, social perception, and anticipated future outcomes on human behavior and decision-making.
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Scot and Jopin are in partnership. They share profits in the ratio: Scot 70 per cent; Jopin Purchases136,680 Debtors and creditors41,94032,216 (d)Charge interest on capitals at 5 per cent. Office equipment3,600 (b)Office expenses owing £240. Provision for depreciation at 31. 12. 20X6: Stock at 31 December 20X638,410 Salaries27,400 (a)Stock 31 December 20X7 £41,312 Draw up a set of final accounts for the year ended 31 December 20X7 for the partnership. The fol (c)Provide for depreciation: motor 25 per cent of cost, office equipment 20 per cent of cost Office equpment at cost9,200 Drawings: Scot17,500 Cash at bank2,118 lowng notes are applicable at 31 December 20X7 DrCr Joplin16,000 Capita accounts: Scot50,000 Discounts allowed312 Sales180,400 Current accounts at 31. 12. 20X6 Cash in hand317 313,407313,407 Motor vehicles12,800 Jopln7,009 ££ 30 per cent. The folowng trial balance was extracted as at 31 December 20X7. Scot7,382 Office expenses2,130 Motor vehices at cost21,400 Joplin20,000 Required: (e)Charge interest on drawings: Scot £300; Joplin £200.
a. Profit per partner is 0.23.
b. The partners owe Scot and Joplin is £59,295 each.
c. Total provision for depreciation is 11,344
d. Interest on capital is £1,800
e. Total interest payable is £1,000
f. The total debit and credit amounts do not agree, which indicates that there is an error in the trial balance. Total 750,000.
(a) The profits for each partner, we need to calculate the total sales and subtract the total expenses, and then divide the result by the total capital.
Total sales = 180,400
Total expenses = (office expenses + motor vehicle depreciation) + drawings + provisions for depreciation + discounts allowed + cash in hand
= (2,130 + 30,000 + 16,000 + 312 + 2,118) + (17,500 + 7,009) + (50,000 + 31,200) + (312 + 30% of 41,940)
= 147,643 + 17,500 + 50,000 + 312 + 2,118
= 242,054
Total capital = 50,000 + 70,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000 + 50,000
= 750,000
Profit per partner = Total sales / Total capital
= 180,400 / 750,000
= 0.23
(b) The total drawings of Scot and Joplin are 17,500 + 20,000 = 37,500. The total profit after paying for the provision for depreciation is 180,400 - 31,200 - 240 - 38,410 = 118,590. Therefore, the partners owe Scot and Joplin £118,590 / 2 = £59,295 each.
(c) The provisions for depreciation for motor vehicles and office equipment are calculated as follows:
Depreciation on motor vehicles = 21,400 / 70% = 30,600
Provision for motor vehicles = 30,600 x 25% = 7,150
Depreciation on office equipment = 41,940 / 20% = 20,970
Provision for office equipment = 20,970 x 20% = 4,194
Total provision for depreciation = 7,150 + 4,194 = 11,344
(d) The interest on capital is calculated as follows:
Interest on capital = 5% x 50,000 x 12 x 3 / 2 = £1,800
(e) The interest on drawings is calculated as follows:
Interest on drawings = 300 x 2 = £600
Interest on Joplin = 200 x 2 = £400
Total interest payable = £600 + £400 = £1,000
(f) The trial balance at 31 December 20X6 is:
Debit:
Cash 313,407
Motor vehicles 21,400
Joplin 20,000
Drawings 16,000
Provision for depreciation 31,200
Current accounts 312
Discounts allowed 312
Credit:
Sales 180,400
Office expenses 2,130
Motor vehicle expenses 30,000
Provision for depreciation on motor vehicles 7,150
Provision for depreciation on office equipment 4,194
Expenses paid in advance 17,500
Drawings 17,500
Interest payable 1,000
Total 750,000
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Which of the following statements is incorrect with respect to the Financial Services Modernization Act of 1999?Question 23 options:a) It complemented the Glass-Steagall Act.b) It enabled commercial banks to more easily pursue securities and insurance activities.c) It gave securities firms and insurance companies the right to acquire banks.d) The Act requires that commercial banks must have a strong rating in community lending in order to pursue additional expansion in securities and other nonbank activities.e) All of the above are true.
The statement that is incorrect with respect to the Financial Services Modernization Act of 1999 is it complemented the Glass-Steagall Act, option a.
The statement that the Financial Services Modernization Act of 1999 complemented the Glass-Steagall Act is incorrect. In fact, the Financial Services Modernization Act, also known as the Gramm-Leach-Bliley Act, repealed certain provisions of the Glass-Steagall Act.
The Glass-Steagall Act, enacted in 1933, aimed to separate commercial banking activities from investment banking activities to prevent potential conflicts of interest and reduce risks in the financial system. It established a strict separation between commercial banks, which take deposits and make loans, and investment banks, which engage in securities underwriting and trading.
However, the Financial Services Modernization Act of 1999 repealed certain provisions of the Glass-Steagall Act and allowed for greater integration of banking, securities, and insurance activities. It enabled commercial banks to more easily pursue securities and insurance activities (option b) and gave securities firms and insurance companies the right to acquire banks (option c). This deregulatory legislation contributed to the consolidation of the financial industry.
Option d, which states that the Act requires that commercial banks must have a strong rating in community lending in order to pursue additional expansion in securities and other nonbank activities, is also incorrect. The Financial Services Modernization Act does not include such a requirement.
Therefore, the correct answer is option a) "It complemented the Glass-Steagall Act."
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what does it mean if a business shows a cash deficit on its uca cash flow statement after repaying debt as scheduled? g
If a business shows a cash deficit on its UCA (Uniform Credit Analysis) cash flow statement after repaying debt as scheduled, it means that the company's cash outflows exceed its cash inflows during the specified period, even after considering the scheduled debt repayments.
A cash deficit indicates that the company has insufficient cash on hand to cover its operating expenses, investments, and debt obligations. This situation can have several implications:
Liquidity Concerns: A cash deficit raises concerns about the company's liquidity and its ability to meet its financial obligations. It suggests that the company may face challenges in funding its day-to-day operations and honoring its debt repayment commitments.Financial Stress: A cash deficit may indicate financial stress or a mismatch between the company's cash inflows and outflows. It could be a result of declining sales, increased expenses, poor cash management, or other financial difficulties.Need for Additional Financing: A cash deficit highlights the need for additional financing to bridge the gap between cash outflows and inflows. The company might need to seek external funding sources such as loans, equity investments, or refinancing options to improve its cash position.Potential Risk of Default: If the cash deficit persists and the company is unable to generate sufficient cash to meet its debt obligations, there is a risk of defaulting on its debt. This can have severe consequences, including damage to the company's creditworthiness, legal actions by creditors, and potential bankruptcy.Learn more about cash deficit
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who is the largest single holder of u.s. government securities?
As of my knowledge cutoff in September 2021, the largest single holder of U.S. government securities is the Federal Reserve, also known as the central bank of the United States.
The Federal Reserve holds U.S. government securities as part of its monetary policy operations, which includes buying and selling government securities to influence the money supply and interest rates. These securities are held in the Federal Reserve's System Open Market Account (SOMA) and consist of Treasury bills, notes, and bonds. Other major holders of U.S. government securities include foreign countries, such as China and Japan, as well as domestic and international investors, financial institutions, and pension funds. Please note that the specific holdings may have changed since my knowledge cutoff, and the most up-to-date information can be obtained from reliable sources or financial reports.
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dc landlord titus needs to enter a tenant's apartment in order to repair a leaking faucet. which of the following is true?
The following statement is true: In D.C., a landlord must give a tenant reasonable notice before entering their home, except in an emergency situation such as a fire or flooding that could cause damage to the property.
Landlords have the legal authority to enter their tenants' rental homes. The DC landlord Titus, on the other hand, must give a tenant reasonable notice before entering their home, except in an emergency situation such as a fire or flooding that could cause damage to the property.
Entering a tenant's home without their consent or notice is considered illegal. Landlords must follow certain guidelines when entering a tenant's rental property to conduct repairs, show the unit to a potential tenant, or for any other reason.Read more on landlord-tenant law in DC here: https://www.rentals.com/District-of-Columbia/Washington/legal-issues-for-dc-landlords/
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the sale of mortgage loans on the secondary market has a positive impact on the economy by
The sale of mortgage loans on the secondary market has a positive impact on the economy by providing liquidity to lenders and allowing them to make more loans. This, in turn, spurs economic growth and creates jobs.
When lenders sell their mortgage loans on the secondary market, they receive cash that they can then use to make more loans. This helps increase the availability of credit and encourages economic growth. Additionally, the secondary market provides liquidity to the mortgage market, which helps reduce interest rates for borrowers and allows more people to purchase homes. Furthermore, the sale of mortgage loans on the secondary market allows for risk to be spread out among investors, which reduces the risk to individual lenders.
This, in turn, helps increase confidence in the housing market and encourages more investment. All of these factors ultimately lead to increased economic activity and job creation, making the sale of mortgage loans on the secondary market a positive influence on the overall economy.
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when mistakes occur in the supply chain, which of the following things might happen?
When mistakes occur in the supply chain, several things might happen. Firstly, the delivery of goods and services may be delayed, causing inconvenience to the customers. Secondly, the production process may be affected, leading to lower-quality products or even a halt in production.
Thirdly, the reputation of the company may be tarnished, resulting in a loss of customer trust and loyalty. Additionally, the company may face financial losses due to the cost of rectifying the mistake. Therefore, it is crucial for companies to have effective measures in place to prevent and manage mistakes in the supply chain.
Hi! When mistakes occur in the supply chain, some of the following things might happen:
1. Delays in product delivery
2. Increased costs
3. Customer dissatisfaction
4. Inventory issues
5. Reduced efficiency and productivity
6. Damage to the company's reputation
It is crucial to identify and rectify supply chain mistakes promptly to minimize their impact on the overall business operations.
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