Liabilities represent obligations to repay debts. Thus, option 'A' is the correct option.
What are liabilities?A liability is defined in financial accounting as the future forfeitures of economic benefits that an entity must make to other entities as a result of previous transactions or other previous events, the resolution of which may result in the transfer or use of assets, the provision of services, or another future yielding of economic benefits. Financial accounting liabilities might be based on equitable duties or constructive obligations rather than having to be legally enforceable.
A responsibility based on moral or ethical principles is referred to as an equitable obligation. Contrary to an obligation that is founded on a contract, a constructive duty is one that is suggested by a particular combination of circumstances.
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john and mabel's company, high-tech solutions, is a medium-sized high-tech firm with a core employee group of highly skilled professionals. around this core is a group of twice as many part-time contract programmers and other computer professionals. as they win programming contracts, they hire contract workers. when work slows, they let the part-timers go but keep their core group. their target industries are facing increasing government scrutiny and possible regulation due to the number of firms that are doing poor work and causing long-term problems for customers. john believes, when hiring for either the core group or for the part-time work force, they need to look not only at each candidate's technical work skills and competency but also think about other factors as well: the candidate's emotional control, team orientation, self-awareness, self-esteem, and what the company has to offer them in terms of family support. mabel agrees to a degree. she thinks that the key to productivity and quality is through their people, but she wants to focus more on technical competencies and less on the other areas john mentions. high-tech solutions uses teams extensively. employees are trained how to work in teams, handle conflict, work cooperatively, etc. joan, a five-year veteran at high-tech, plays softball in a church league with several of her coworkers. she has asked for investment advice from a couple of the work-group members who are heavily into the stock market. she, in general, highly enjoys her work because of the relationships she has with her coworkers. in sharp contrast, one of the new employees is having a hard time with her supervisor. she wants greater independence and more affirming feedback. the supervisor wants to be sure the new employee can do her job, so he is supervising closely and is giving a lot of corrective feedback. refer to case 1.1. john's approach to hiring is an example of the concept of hiring
The idea of employing a total person is demonstrated by John's hiring strategy.
The Total Person concept is a way of life that emphasizes goal-setting and action plans that take into account six crucial areas: family and home, financial and career, mental and education, physical and mental well-being, social and cultural diversity, and morality and ethics. In this individualized Plan of Action, self-evaluations are used to help people determine their values, set priorities, and set goals. These efforts enable the individuals in your business to establish equilibrium in all six spheres of existence. People who attain that balance are happier and more productive, according to study, and when everyone is more productive, your organization as a whole performs better.
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Provide a brief complete analysis of different levels of diversification that a firm can pursue by using different corporate-level strategies. What are the three reasons firms select to diversify their operations? Please support your discussion by sharing real industry examples properly citing the source(s).
For success in a new market, it is important that the company must have all details of the new country such as taste preferences and habits customs.
In diversity, it is important for the company to understand the patterns of communication, trends, and belief system of investors, employees, creditors, and other related people. And it is difficult to understand the impact of culture on communications. An effective cross-culture system of communication is necessary to avoid and resolve any conflicts.
Samsung company's Diversity and Inclusion
At Samsung, there is an employees from regions and from various groups such as
i)- Different gender
ii)- LGBTQ+
iii) Different race
iv)- working parents
v)- veterans,
Diversity and Inclusion in Canada Statistics
Canada has three categories of indigenous or aboriginal people-
i)- Native American Indian
ii)- Métis
iii)- Inuk
Diversity is evaluated based on the external factors of the product like -
i) size of the market
ii) growth rate of market
iii) level of competition
iv) Cyclic impact on the market
v) barriers towards entry in the market.
vi) social and environmental issue
In a diverse environment the organization, an effective system of communication is necessary to avoid and resolve any conflicts.
The steps are taken for improvement of interactions -
i) Open-mindedness of management and employees helps in establishing an effective system.
ii) Improving the willingness to accept the change is helpful in cross-culture communication.
iii) Establish an open communication culture were across the border employees can interact freely.
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Which of the following statements are applicable to the doctrine of stare decisis? Choose 2 answers.
a. Stare decisis is a principle that arose out of the common law.
b. A lower court may choose whether to follow the precedent of a decision made by a higher court in the same jurisdiction.
c. A lower court must follow the precedent of a decision made by a higher court in the same jurisdiction.
d. A court must follow the decisions of a higher court, even if the decision comes from another jurisdiction.
The following statements are applicable to the doctrine of stare decisis.
Stare decisis is a principle that arose out of the common law.A lower court must follow the precedent of a decision made by a higher court in the same jurisdiction.The correct options are A and C.
What is the doctrine of stare decisis case law?The principle of precedent, or "stare decisis," states that the decision made by the higher courts must be followed by the lower courts and is binding on them. It also serves as a guideline for the lower courts. With consistency and permanence maintained, the law is given finality in this way.
The phrase "stare decisis" refers to the common law doctrine of precedent, which states that future court decisions should be influenced by earlier ones. The phrase from which the term is derived means "to stand by decisions made" or "to let the decision stand."
Thus, the ideal selection is options A and C.
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What are the first issues you need to address according to the fundamental rules of marketing?
According to the fundamental rule of marketing are product, price, place and promotion. The first issue to address is product regarding.
What do you mean by marketing?Marketing is the process of organising and carrying out the creation, pricing, marketing, and distribution of concepts, products, and services to generate exchanges that meet both personal and business goals.
The marketing concept is focused on the idea of using the product to meet the wants of the consumer and alleviate their issue (needs).
The Marketing Concept is a significant shift in today's business attitude that lays the groundwork for gaining a competitive edge.
Therefore, according to the fundamental rule of marketing are product, price, place and promotion. The first issue to address is product regarding.
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A contingent liability typically is accrued for product warranties because it meets which of the following criteria?A future loss is probableThe amount of the future loss can be reasonably estimated
For product warranties, a contingent responsibility is often incurred because it fits which of the following requirements. A loss in the future is likely.
An obligation that arises dependent on the outcome of a certain occurrence and provides coverage for damages to a third party for whom the insured is vicariously liable is known as a contingent liability, also known as indirect liability.
The three categories of contingent liabilities as defined by GAAP are probable, plausible, and remote.
A company's financial statements never include contingent liabilities. Although these duties have not yet materialized, they might do so in the future. Therefore, contingent liability is not treated in an accounting sense. These contingent liabilities now need to be examined annually.
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The transaction, RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT, would result in which journal entry? debit cash and credit accounts receivable/Parker, inc.
The note in the journal reads: "Transaction: Received check from Parker, Inc., in payment on its account, debit cash, credit accounts receivable/Parker, Inc."
What does credit and debit mean in the context of accounts receivable?Debit denotes assets (i.e., things you possess or are obligated to hold) and credit denotes liabilities, according to the fundamental accounting principle (something you owe). Because they are cash that will soon be paid to you, which you will own and profit from, accounts receivable are always reported as assets on a balance sheet.
Receivables are increasing on the debit side while decreasing on the credit side. When a debtor makes a cash payment, the amount of cash rises while the number of accounts receivable falls. At the time of recording the transaction, cash is subtracted and accounts receivable are credited.
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Question 3
A motor vehicle was purchased by Robson on 1 January 2020 for £45,000. It has an estimated useful economic life of 5 years
and an estimated residual value of £5,000. What would be the depreciation expense for this asset for the year ending 31
December 2022 using diminishing (reducing) balance depreciation method at 25%.
Answer:
To calculate the depreciation expense for the year ending December 31, 2022, using the reducing balance method, we need to do the following:
1. Calculate the net book value (NBV) of the asset at the beginning of the year by subtracting the accumulated depreciation from the original cost of the asset:
NBV = Original cost - Accumulated Depreciation
As we don't have information on accumulated depreciation for the year 2022, we will assume that it is zero.
NBV = 45,000 - 0 = 45,000
2. Calculate the depreciation rate:
Depreciation rate = 25%
3. Apply the depreciation rate to the net book value of the asset:
Depreciation expense = NBV x Depreciation rate
Depreciation expense = 45,000 x 0.25 = 11,250
So, the depreciation expense for the asset for the year ending December 31, 2022, is £11,250.
steve, a baseball fan who regularly goes to games right after work, is thirsty and hungry by the time he gets to the ballpark. he hopes and desires that the food and drink vendors will visit his section of the stand frequently. another fan, bart, who regularly has dinner elsewhere before he attends games, has a lower level of desired service from the food and drink vendors at the ballpark. in this example, steve and bart have different that shape their desired level of service. personal service philosophies personal needs predicted service levels derived service expectations adequate service expectations
Steve and Bart have different personal needs that shape their desired level of service from the food and drink vendors at the ballpark.
Steve, who arrives at the park thirsty and hungry after work, has a higher level of desired service and hopes that the vendors will visit his section frequently. Bart, who has dinner elsewhere before attending the games, has a lower level of desired service and has lower service expectations.
These differences in personal needs and predicted service levels lead to different adequate service expectations for each of them.
The proper question is "steve, a baseball fan who regularly goes to games right after work, is thirsty and hungry by the time he gets to the ballpark. he hopes and desires that the food and drink vendors will visit his section of the stand frequently. another fan, bart, who regularly has dinner elsewhere before he attends games, has a lower level of desired service from the food and drink vendors at the ballpark. in this example, steve and bart have different that shape their desired level of service. personal service philosophies personal needs predicted service levels derived service expectations adequate service expectation.Explain?"
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In order to avoid falling prey to ease of recall bias, a manager must discount the number of successful and unsuccessful actions taken by employees situated closer to the manager, relative to those of employees who are farther away.
True or False
The statement is True. Ease of recall bias is a cognitive bias that causes people to more readily remember and recall recent or easier-to-recall information than those that are more distant or difficult to remember.
This can lead to the manager giving preferential treatment to those who are closer to him or her, resulting in unfairness in performance evaluation and decision-making.
To avoid such bias, the manager should discount the number of successes and failures of employees closer to him or her compared to those who are farther away. Objective measures such as performance reviews and customer or client feedback should be used to provide a more accurate assessment of an employee's performance.
Additionally, the manager should create an environment that encourages open communication and collaboration among all employees, regardless of their proximity to the manager, to ensure that no one is given preferential treatment.
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if you wish to measure productivity in units other than dollars, you must use measures of productivity.
If you wish to measure productivity in units other than dollars, you must use partial measures of productivity.
What are partial measures of productivity?Partial productivity measurements are those that are practical as indicators of total productivity but do not fulfil the criteria for measuring total productivity. In reality, production measurement refers to incomplete productivity measures. In reality, production measurement refers to incomplete productivity measures.
In such instances, the units of measurement represent parts of overall productivity, and if properly understood, these parts are a good indicator of productivity growth. The concept of partial productivity effectively demonstrates how total production is only assessed in part.
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retained earnings represents multiple choice question. the total operating, investing, and financing activities of the company. the total cash the company has accumulated over its life. the net assets of the company during the current period. the total net income earned over the life of the company that has not been distributed as dividends.
The retained earnings represent the total net income earned over the life of the company that has not been distributed as dividends. Thus, option (c) is correct.
What is retained earnings?The term retained earnings are the also known as the shareholder earnings. The retained earnings was the type of the equity. It was the amount of the company as the minus the cost. The accumulated net income of the company.
The retained earnings was the specific meaning in the company act. The amount of profit a company is the represent the total net income earned over the life of the company. But, the drawback is the not been distributed as dividends.
As a result, the significance of the retained earnings are the aforementioned. Therefore, option (c) is correct.
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Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of A. perceived threats. B. value loss. C. risk. D. exposure.
Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of risk. Thus, option c is correct.
What is risk?Business risk is the exposure a company or organisation has to element(s) that will reduce its profits or cause it to fail. A business risk is anything that compromises a company's ability to reach its financial objectives. There are numerous factors that may combine to produce business risk. Sometimes a company's top management or leadership is the one who creates circumstances in which a business may be more exposed to risk.
However, there are times when a company's external environment is the source of risk. As a result, a business cannot completely protect itself from risk. However, there are ways to reduce the overall risks connected with running a business; most businesses achieve this by implementing a risk management strategy.
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comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.
Our business cultures comprise the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings.
What is the importance of business cultures?Work culture is what distinguishes each company. It reflects the "personality" of an organization and can drive engagement, attract top talent, and influence organizational performance. Work culture is influenced by factors such as leadership style, workplace policies and practices, compensation and benefits, transparency and accountability, and work/life balance.
Not only does culture reflect those in positions of power, but it also drives employee engagement and satisfaction. When a company's culture values its employees, it is easier to retain and attract professionals. The culture of a company influences who it hires. For example, if a company needs a new creative director, it will almost certainly hire someone who can match its brand.
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You own Company X. When you started the company, you initially invested $12,000. You also borrowed $12,000 through a five-year (long-term) loan, of which you have paid back $2,018. You have retained $1,291 in earnings to be reinvested in the company, and you decided to put $1,000 of it aside for a long-term investment. The company owns land and a building worth $8,878 and equipment worth $4,230. As of today, the company has $8,250 in cash, $1,225 in inventory, and is due to receive accounts worth $675. However, the company owes its suppliers $485 and has a $500 loan to pay off in the next six months.
You invested $20,000 in the company when you originally started it. Additionally, you borrowed $12,000 for a five-year (long-term) loan and paid back $2,018 of it.
What does "company" mean?
businesses, a noun in plural. a group of people who are connected or who have joined together. a guest or guests: We're having people over for dinner. a collection of individuals together for social purposes. association, camaraderie, and fellowship She is a lot of joy to be around.
The Old French word "compagnie," which was first used in the Salic code and meaning "one who eats bread with you," is where the English word "company" originates. To describe a "society, friendship, closeness, or body of troops," it was first used in 1150.
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Hopper Industries determines that for its air compressors the following results are achieved at a price of $250; total costs= $250,000; variable costs per unit = $100; fixed costs = $175,000. GIven these figures, Hopper would break even at _____ units
Correct answer is option A. Mike would break even at 1167 units.
Break-Even Point = Fixed Costs ÷ Contribution Margin.
Contribution Margin = Price of Product – Variable Costs.
According to given question:
Contribution Margin = $250 - $100 – $ 150
Break-Even Point = $175,000 ÷ $ 150
= 1167.
The break-even point is the level at which total expenses and total revenues are equal, implying that your small business has no loss or gain. In other words, you've come to the point where the manufacturing costs equal the sales revenue for a product.
Investors in a company want to know not only what kind of return they can expect on one‘s investment portfolios, but also when they will see that return.
This is due to the fact that some businesses may take years to turn a profit, often losing money in the first few months or decades before breaking even. As a result, the break-even point is an essential part of any company plan presented to a new investor.
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Complete question:
Mike Industries determines that for its air compressors the following results are achieved at a price of $250, total costs = $250,000; variable cost per unit = $100; fixed costs = $175,000. Given these figures, Mike would break even at _____ units.
a. 1167
b. 1000
c. 1750
d. 2500
e. 700
Which of the following transactions should be reported as a liability in the general fund financial statements?
A. An amount to be paid from current financial resources.
B. An amount set aside to pay for an unfilled contract.
C. An amount that is due within one year of the balance sheet date.
D. Principal on long-term debt due 90 days after the balance sheet date.
An amount that is due within one year of the balance sheet date of the following transactions should be reported as a liability in the general fund financial statements. The correct option is C.
What is included in the general fund?The term "general fund" refers to state income from taxes, fees, interest income, and other sources that can be applied to the general running of the state government. There is no explicit requirement in law or the constitution for general fund revenues to support any particular programs or agencies.
The focus on measuring current financial resources and the modified accrual basis of accounting should be used to present financial statements for governmental funds. When they become measurable and available, revenues should be recorded in the accounting period.
Thus, the ideal selection is option C.
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which of the following is a category of law that recognizes business managers must be aware of various trade laws and restrictions in different countries so they can act accordingly when they set out to do business those countries?
a. confiscatory law
b. comparative law
c. consequential law
d. conditional law
Comparative law that recognizes business managers must be aware of various trade laws and restrictions in different countries so they can act accordingly when they set out to do business in those countries.
It is necessary to understand trade laws. The comparative method enables a thorough examination of how the legislation is applied. Understanding the requirements and intent of a foreign law is crucial in the system of international trade. Trade relations will not be successful if the legal components are not fully understood.
The comparative method identifies parallels and discrepancies in the legal system, which aids in building a common ground for agreement on specific concerns. It is a crucial component of commercial legal entities.
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stockholders' equity is: multiple choice question. decreased by additional investments made by stockholders during the year increased by net income for the year increased by dividends paid during the year increased by bonds issued during the year
Stockholder's equity is: increased by net income for the year.
The ownership stake of a company's shareholders is shown as a segment on the balance sheet known as stockholders' equity. It is the remaining ownership stake in a company's assets after obligations have been subtracted. Profits made by a corporation are reported as net income and are included in stockholders' equity on the balance sheet. The stockholders' ownership interest in the firm is so increased.
Stockholders' equity is the sum of an investor's assets after obligations have been subtracted from and paid off. It is also known as shareholder equity or the book value of a corporation. Stockholders' equity, to put it simply, is the difference between a company's assets and liabilities.
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on april 1, year 1, norman company issues $200,000 of 6% bonds. the market rate of interest is 6%. interest of $6,000 is payable semi-annually on june 30 and december 31. the indenture is dated january 1, year 1, and the bonds mature 5 years from that date. on the date of issue, the price of the bonds will be equal to multiple choice question. $203,000. $200,000. $206,000.
The quoted interest rate multiplied by the face value (or face value) of the bond determines the amount of cash that must be paid each year.
What is the price of the bond?
The price of the bond is the present value of future cash flows generated by the bond. It is the sum of the present values of all prospective coupon payments plus the present value of the face value at maturity. To calculate the price of a bond, it is sufficient to discount the known future cash flows. bond order = [(number of electrons in bonding molecules) – (number of electrons in antibonding molecules)]/2. Essentially, the price of a bond rises and falls based on the value of the proceeds from coupon payments relative to broader interest rates. When prevailing interest rates exceed the bond's coupon, the bond becomes less attractive.
For example, a $10,000 bond with a maturity of 10 years and a coupon of 5% would yield $500 per year for a decade, after which the initial face value of the $10,000 bond is returned to the investor.
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Which of the following statements does not accurately describe how your company's performance is scored on the Best-in-Industry Standard? In order to receive a score of 100, a company must (1) be the best-in-industry performer on EPS, ROE, stock price, and image rating, (2) achieve the investor-expected targets for EPS, ROE, stock price appreciation, and image rating set by the company's Board of Directors, and (3) have an A+ credit rating. The best-in-industry performer on EPS, on ROE, on Image Rating, and on Stock Price earns a perfect score (the full number of points for that measure as determined by the weights chosen by your instructor)--but only if the industry leader's performance equals or exceeds the investor-expected performance target established by the company's Board of Directors. Your company will receive an annual best-in-industry score and a "game-to-date" best-in- industry score for all years completed. The Best-in-Industry scoring standard is based on how your company's performance compares (1) to the industry's best performer on market share, on return on sales (ROS), on stock price appreciation, and on P/Q rating and (2) to the ultimate credit rating of A+ If EPS is given an instructor-assigned weight of 20 points, a company with an industry- leading EPS performance of $5.00 (that is above the investor-expected EPS of $3.70) gets a score of 20 points and a company with an EPS of $3.00 (which is 60% as good as the leader's $5.00) gets a score of 12 points (60% of 20 points).
Option (c), The Best-in-Industry scoring criterion is determined by how your firm performs in relation to (1) the best performer in the industry in terms of market share, return on sales (ROS), stock price growth, and P/Q rating, and (2) the ultimate credit rating of A+.
What is Globus's best all-around rating?Scores below 60 reflect performance that is least 40% below that of companies with scores in the 90s, indicating that all these companies were significantly outperformed by other businesses in the industry. Best-in-industry performance scores of 90 or greater are excellent, 80 to 89 are nice to very good, 70 to 79 are fair to good, 60 to 69 are flimsy to fair, and scores of 80 to 89 are good to very good.
What are the five metrics that the BSG uses to measure a company's success?A company cannot receive a score of 100 unless it achieves the highest performance level (also known as the best-in-industry performer) across all five performance metrics over the course of the year, meets or exceeds the targets for EPS, ROE, stock price, and image rating, and has an A+ credit rating.
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which of the following statements are correct? check all that apply. expectations of a recession that will reduce economywide corporate profits will likely cause the value of clinton's shares to decline. the dow jones industrial average is an example of a stock exchange where he can purchase bayzer stock. an increase in the perceived profitability of bayzer will likely cause the value of clinton's shares to rise. alternatively, clinton could undertake their financial investment by purchasing bonds issued by the u.s. government. assuming that everything else is equal, a municipal bond issued by a state most likely pays a interest rate than a corporate bond issued by an electronics manufacturer.
The value of Clinton's shares will probably decrease due to predictions of a recession that will cut business profits across the economy.
He can buy business stock on stock exchanges like the Dow Jones Industrial Average.
In terms of macroeconomics, what are corporate profits?The portion of the total income from current production that is accounted for by U.S. corporations is known as corporate profits.
Are business earnings accounted for in GDP?Someone is paid for the sale of products and services. Therefore, computing the national income, also known as gross domestic income (GDI), which equals the pay for all employees, rent, interest, owners' income, and corporate profits, is another method of measuring GDP.
What is the secret of corporate success?Profit % is calculated using the following equation: Profit percentage = (Profit /Cost Price) x 100.
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Which of the following are trade-offs faced by a member of Congress deciding how much to spend on national parks? Check all that apply.Money spent on national parks benefits park visitors, but alternatively the money could be spent on highways to benefit drivers.The president likes white flowers and wants to see more in parks.Congress can spend either a small amount on a lot of parks or a large amount on a single national park.
As per the trade-offs, Congress can make informed decisions that serve the public interest and balance the needs of different groups.
A trade-off is when you have to choose between two or more options and each option has its own benefits and drawbacks.
The first trade-off is between spending money on national parks and spending money on highways. On one hand, spending money on national parks benefits park visitors by improving facilities and increasing access to recreational opportunities.
Another trade-off is between spending a small amount on many parks or spending a large amount on a single national park. This trade-off requires Congress to decide whether it is more important to spread resources thinly across many parks or concentrate resources on a single park in order to have a greater impact.
Finally, the president's preference for white flowers in parks is also a trade-off. While the president's request may benefit park visitors by adding beauty and interest to the parks, it may also detract from the natural character of the parks and divert resources from other important priorities. Congress will need to weigh these trade-offs in order to make a decision that serves the public interest.
In conclusion, trade-offs are an important part of decision-making for Congress.
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when the seller requires that only certain dealers carry its products and also that these dealers not handle competitors
when the seller requires that only certain dealers carry its products and also that these dealers not handle competitors, then this strategies are called exclusive dealing
In Economics and Law, exclusive haggling arises when a supplier entails the buyer by placing limitations on the rights of the buyer to choose what, who and where they deal. This is against the law in utmost countries which include the USA, Australia and Europe when it has a significant impact of mainly lessening the competition in an assiduity. When the deals outlets are possessed by the supplier, exclusive haggling is because of perpendicular integration, where the outlets are independent exclusive haggling is illegal( in the US) due to the Restrictive Trade Practices Act, still, if it's registered and approved it's allowed. While primarily those agreements assessed by merchandisers are concerned with the comprehensive literature on exclusive haggling, some exclusive dealing arrangements are assessed by buyers rather of merchandisers.
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After World War II, business began to change in many long-lasting ways. Which of the following is least likely to have caused this shift?
A) Advent of readily available mainframe computing capability
B) Opening up of production capacity dominated for years by war production
C) Pent-up demand for consumer goods and services after the war
D) Desperate need to regain a normalcy of day-to-day life after years of war
E) Focus on sales orientation with the objective of achieving short-term profits
Correct answer is option E. Focus on sales orientation with the objective of achieving short-term profits is least likely to have caused shift, After World War II.
Not only did World War II change Europe, but it also changed the entire world. This time period saw a socioeconomic and cultural shift, and the aftermath of that shift can still be felt today.
Economically, the period following World War II saw a shift away from the industry of creation again for purpose of destruction and towards the industry of formation for the sake of creation, resulting in a willingness to experiment with previously unheard-of technologies and business models.
This shift is best illustrated in Europe by the change inside the gross domestic product in the years that followed the war.
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Pepper Company, which is a calendar-year-reporting company purchased 100% of the common stock of Salt Inc, for $325,000 on 12/31/19. Pepper declared dividends of $80,000 and Salt declared dividends of $10,000 during 2019. Each company's financial statements for the year ended 12/31/19 immediately after the acquisition are as follows: Income Statement (2019) Pepper Co. Salt Co. Sales (900,000) (500,000) Cost of sales 500,000 250,000 Expenses 260,000 202 ,000
Net Income (140,000) (48,000)
Balance Sheet (as of 12/31/19) Cash 45,000 20,000 Accounts receivable 75,000 70.000 Inventory 105,000 80,000 Investment in Salt 325,000 Land 100.000 70,000 Buildings and equipment 250,000 220,000
Accumulated depreciation (150,000) (60,000) Total Assets 750,000 400,000
Payables and accruals (80,000) (60,000) Bonds payable (20,000) (150,000) Common stock (300,000) (100,000) Retained earnings (350.000) (90,000) Total Liabilities and Equity (750.000) (400.000)
Required: Prepare a consolidation worksheet on the acquisition date of 12/31/19. The net assets of Salt had fair values different than book value on the acquisition date as follows. Cost FMV Inventory 80,000 75,000 Land 70,000 100,000 Building and equipment, net 160,000 210,000 Covenant-not-to-complete 40,000 Bonds payable 150,000 175.000
A consolidated balance sheet is a document that displays all of a parent company's financial data and all of its subsidiaries on a single sheet without separating the businesses.
A consolidated balance sheet is a financial statement that shows the financial standings of a parent company and its subsidiary companies. A CBS is a single balance sheet that represents the entire group and is comprised of the financial statements of all subsidiaries, including the leading company.
This Standard's goal is to establish guidelines and practices for creating and presenting consolidated financial statements. In order to give financial information on the economic activities of its group, a parent (sometimes referred to as a holding firm) presents consolidated financial statements.
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high taxation, excess regulation, and limited choices in a business environment are likely to result in:
High taxation, excess regulation, and limited choices in a business environment are likely to result in a decrease in entrepreneurial activities.
What exactly does taxes mean?
taxation, the government's imposition of mandatory fees on people or organizations. Nearly every nation in the world imposes taxes, which, although also serving other objectives, are largely intended to fund government spending.
There will probably be less entrepreneurship as a result of high taxes, excessive regulation, and constrained enterprise options.
Therefore, excessive taxation, an overreliance on regulation, and a lack of options in the general business environment are likely to cause a decline in entrepreneurial activities.
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Select the correct answers.
Customers compare brands and plan for the purchase of which products?
A.
convenience products
B.
nondurable
goods
C.
shopping products
D.
specialty products
Answer:
The correct answer is C. Shopping products are products for which the consumer desires to compare prices [1], styles, quality, and other features before making a purchase. Examples of shopping products include furniture, electronics, and cars.
Make Me As a Brainelist If You Like1. According to the data collected from United Airlines and presented in the above multi- attribute matrix, describe five useful pieces of information for future managerial decision making.
Here are the data collected from United Airlines and presented in the above multi- attribute matrix:
Market Segmentation: The matrix shows data from different market segments, such as business class, premium economy, and economy class, which can be useful for managers in targeting specific customer segments with tailored products and services.Customer Preferences: The matrix highlights the preferences of customers in terms of factors such as comfort, food, and entertainment. Managers can use this information to improve their offerings and meet the needs of their customers.Performance Comparison: The matrix provides a comparison of the performance of United Airlines with its competitors, allowing managers to identify areas of improvement and gain a competitive advantage.Cost-Benefit Analysis: The data in the matrix can be used to perform a cost-benefit analysis and determine the most cost-effective solutions for improving customer satisfaction and loyalty.Feedback on Service Quality: The data in the matrix provides feedback on the quality of United Airlines' services, which can be used by managers to make informed decisions about service improvements and investments.Managerial decision-making refers to the process by which managers make a choice among alternative courses of action to solve problems or take advantage of opportunities. This process involves the collection and analysis of information, identification of options, evaluation of alternatives, and selection of the best course of action. Effective decision-making requires the integration of technical, financial, strategic, and interpersonal skills, as well as a thorough understanding of the organizational environment.
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A check that is made payable to a specific person is? A.a special endorsement
B.a blank endorsement
C.a restrictive endorsement
D.none of the above
Answer:
The answer is "A" that is Special endorsement.
Amy and Ethan are married and file a joint return for 2019. Their taxable income is $192,100. The amount of their tax liability is what?
Answer:
$22,230.76 would be their tax liability
Explanation:
They fall into the 24% bracket
