Product-oriented vision statements are regularly less effective than organizations with purchaser-oriented vision statements: due to the fact that product-oriented groups have much less flexibility to fulfill consumer needs.
Product-orientated imaginative and prescient statements define a business in terms of an awesome or carrier provided. purchaser-oriented vision statements outline enterprise in phrases of offering solutions to client wishes.
A customer-oriented imaginative and prescient defines an enterprise in terms of presenting answers to consumer wishes. It identifies a crucial need but leaves open the manner of a way to meet that need.
A Product vision or the Product imaginative and prescient assertion is an outline of the essence of your product: what are the troubles it's far fixing, for whom, and why now is the proper time to build it. A Product imaginative and prescient gives your team a bigger picture of what they may be working on and why.
Amazon - To be Earth's maximum customer-centric corporation, wherein clients can discover and discover whatever they might want to buy online. Apple - To bring an excellent consumer experience to its customers through its revolutionary hardware, software, and offerings.
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A completed voucher is sent to an authorized person who does all of the following except: multiple choice enters information on both the inside and outside of the voucher performs a final review approves the accounts and amounts authorizes recording of the voucher
Option A. A completed voucher is sent to an authorized person who does all of the following except: multiple choice enters information on both the inside and outside of the voucher.
What is a voucher?This is a piece of paper that is usually given to a particular holder. The work of the voucher is that it helps to make the person that is holding it eligible to having a discount on the price of items or for services.
The complete voucher helps to authorize the payment of an item to a person that is the supplier of that item. Hence we can conclude option A.
A completed voucher is sent to an authorized person who does all of the following except: enters information on both the inside and outside of the voucher.
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Roderick, an NASM-CPT, has submitted his application to be a personal trainer through the website of a large health club company. What will provide the best opportunity to get noticed by the hiring manager
Roderick, a NASM-CPT, has submitted his application to be a personal trainer through the website of a large health club company, Going to the health club dressed formally in a suit and tie in order to hand a résumé over to the recruiting manager there and fill out an application in person. Went to the health club dressed formally in a suit and tie in order to hand a résumé over to the recruiting manager there and fill out an application in person. This is further explained below.
What is Formal dressing?Generally, A prominent fitness club chain's website has received Roderick's application to become a personal trainer. Roderick is a NASM-CPT and the application was filed online. Putting on a suit and tie and going to the health club in order to fill out an application in person and deliver a resume over to the recruitment manager who works there is an appropriate way to present yourself. Went to the health club wearing a suit and tie in order to make a formal handoff of a resume to the recruitment manager there and to fill out an application in person.
In conclusion, Clothes are made specifically for or worn most often during formal events, such as tuxedos and ball dresses. Solid full-sleeved shirts and blouses look great with formal skirts since they exude refinement and confidence. Skirts are an excellent choice for professional settings such as business meetings and conferences. Skirts that are knee-length or lower are best for a formal appearance.
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The mrp=mrc rule tells us that in pure competition a firm will hire workers ______.
The mrp=mrc rule tells us that in pure competition a firm will hire workers up to the point where the marginal revenue product is equal to the wages of workers.
What is a pure competition?A pure competition is an industry that is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into a pure competitive industry.
In the long run, firms in a pure competition earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
In a pure competition, profit is maximised where marginal revenue product equal to the wages of labor. Thus, a rational producer will produce up to the point where mrp = mrc
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Assume that the government places a $4 tax on each slice of cheesecake and that the new equilibrium price is $9. how much tax revenue will be generated from sales to regina and ren?
$8 tax revenue will be generated from sales to regina and ren
What is tax?A tax is a mandatory financial charge or other sort of levy imposed on a taxpayer by a governmental organization to fund government spending and related public expenses, and taxation is a type of levy.
A tax deduction is a provision that lowers the amount of taxable income. A standard deduction is a single, fixed-amount deduction. Itemized deductions are popular with higher-income taxpayers because they frequently have considerable deductible expenses such as state/local taxes paid, mortgage interest, and charitable contributions. The effective tax rate is the percentage of an individual's or corporation's income that is paid in taxes. Individuals' effective tax rate is the average rate at which their earned and unearned income, such as stock dividends, are taxed.
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Which characteristic of an effective accounting information system refers to a system which works smoothly with the business’s employees and organizational structure?
Compatibility is an effective accounting information system refers to a system which works smoothly with the business’s employees and organizational structure.
Compatibility refers to a steady working system, which is aligned with the business employees, operations, and organizational structure. It is also the salability of any information and technology across the organizations.
Comparability is the level of standardization and effective accounting information which allows the financial statements of multiple organizations to be compared to each other. Thus, it uses hardware and software to effectively store and retrieve data.
Hence, a system not compatible with the organization is doomed to failure.
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In the buying center, the ______ is the person who selects the supplier and negotiates the purchase while the ______ controls the flow of information to all other roles.
In the buying center, the Buyer exists the individual who selects the supplier and negotiates the purchase while the Gatekeeper manages the flow of information to all other roles.
Who is a buyer?A buyer's call exists as an agreement between a buyer and seller in which the purchase of a commodity exists at a characteristic price above a futures contract that exists for the same grade and quantity. A business buyer exists as one who immerses in the purchase or acquisition of a part or the whole business organization. A business buyer can be a person, a group of individuals, or a corporation.
The gatekeeper determines what information should move past them (via the information “gate”) to the group or individuals beyond, and what statement should not. Gatekeepers exist at a high level, data decision makers who manage information flow to a whole social system. Gatekeepers exist as people or policies serving as a go-between, controlling access from one point to another. They may restrict, control or delay access to services. Alternatively, they may also be used to oversee how to work exists being done and whether it satisfies certain standards.
In the buying center, the Buyer exists the individual who selects the supplier and negotiates the purchase while the Gatekeeper manages the flow of information to all other roles.
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If a firm doubles its resources and generates an output level which is more than double, it is said to be experiencing?
If a firm doubles its resources and generates an output level which is more than double, it is said to be experiencing economies of scale. Economies of scale are benefits that can emerge from a business's size being increased.
For instance, a company might benefit from economies of scale while making large purchases. It could bargain for a lower price per unit than its rivals by purchasing a big number of items at once. Because they can give businesses a competitive edge in their industry, economies of scale are crucial. Therefore, firm will always aim to achieve economies of scale.
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If you offer vip service to all customers in the data, what would be your total cost, total benefit? are you better offering vip service to all customers or no customers?
There are many ways to encourage and thank your VIP clients, but the experience is what really counts. Offer it in a way that makes them feel like a true VIP, whatever it is you're providing.
Make sure they understand how unique and special what you're presenting is, as well as their inclusion in this exclusive and select club.
It should be the main goal of all communications with them to let them know how much you value and appreciate them.
This includes next-level personalisation so that they can understand that you are genuinely interested in them as individuals and are aware of their preferences and values. Create a personal connection with each consumer by personalizing your communication as much as you can.
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Which would provide the least ambiguous description of a property, for purposes of a deed?
A legal description would provide the least ambiguous description of a property, for purposes of a deed.
A legal description is the geographical description of real estate that identifies its precise place, barriers, and any easements for the motive of a legal transaction, such as a transfer of possession. A criminal description is saved with the deed and filed with the county clerk or county tax assessor.
There are 3 types of legal descriptions of belongings typically used: metes and limits, government survey, and lot and block.
An avenue to cope with is not a legal description. road addresses regularly alternate, and that they had been never intended to offer a reliable description for purposes of deed education. An avenue to deal with isn't always sufficient to serve as a good enough criminal description of the actual estate.
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The price of imported oil decreased in 2001. how did this affect the aggregate supply curve?
A decline in the price of a key input like oil will shift the Aggregate Supply Curve to the right, providing an incentive for more to be produced at every given price level for outputs. From 1985 to 1986, for example, the average price of crude oil fell by almost half, from $24 a barrel to $12 a barrel. Similarly, from in 2001, the price of a barrel of crude oil dropped from 25%.
In both cases, the decreasing price of oil led to a situation where the outward shift of Aggregate Supply Curve to the right allowed the economy to expand, unemployment to fall, and inflation to decline.
The lesson is that lower prices for inputs cause Aggregate Supply Curve to shift to the right, while higher prices cause it to shift back to the left.
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A likely outcome from taxing the rich at a high percentage in order to ________ income, would be discouraged entrepreneurship and work
Taxing the rich at a high rate to earn income can kill entrepreneurship and the desire to work. flat. Redistribute. thrust.
You no longer approach your business from a place of strength and faith, but from a place of fear and hesitation. But... you can go back. Discouragement can turn into courage again.
Entrepreneurship creates new demands and new markets. Entrepreneurship prevents all forms of competition. Entrepreneurial activity has a domino effect on Filipinos, communities and the Philippine economy. All business people are entrepreneurs.
Time management. Time management may be the biggest problem for many (and possibly all) hat-wearing entrepreneurs. With more time, we could have accomplished a lot more
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A likely outcome of taxing the rich at a high percentage in order to redistribute income would be discouraged entrepreneurship and work
In an economy, some people earn a very high level of income whereas some earn a very low level of income. As such inequality in income exists. The richer section of the society is taxed at a higher percentage to redistribute the income in the economy. Redistribution of income means the transfer of income and wealth from the rich to the poor.
The rich people are taxed more so that more revenue is generated by the government from these people and more money can be spent for the overall economic development so that each and every individual benefits from that development. But by taxing the rich higher, they are discouraged to work and take up entrepreneurship because as their income will increase, more will be the tax percentage.
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In the united states, the most widely recognized marker of entry into adulthood is?
The situation whereby an individual is holding a permanent & full-time job is the most widely recognized marker of entry into adulthood in the united states.
What is an adulthood?This refers to the stage of human development that occurs after the stage of adolescence and puberty.
Generally, the stages of adulthood is classified into the early adulthood, middle adulthood and late adulthood in which each stages have their own physical, cognitive and social challenges.
However, in the United state, the scenario that whereby an individual is holding a permanent & full-time job is the most widely recognized marker of entry into adulthood in the country.
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A company with monthly fixed costs of $170,000 expects to earn monthly operating income of $25,000 by selling 6,500 units per month. what is the company's expected unit contribution margin?
$30 per unit is the company's expected unit contribution margin.
Because the value of the contribution margin is used in the calculation of the break-even point. The contribution margin for the unit can be calculated by deducting the variable cost per unit from the sales value per unit. The contribution margin for the entire company will be calculated only for total contribution margin dollars as a percent of total sales dollars.
Margin is the part of a page or sheet outside the main body of printed or written matter.
Variable costs are expenses that vary in proportion to the volume of goods or services that a business produces
Sales refers to the exchange of a product, commodity, service or delivery for money.
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Validated changes and validated deliverables are the outputs of the _____ sub-process of project quality management.
i. closing
ii. executing
iii. initiating
iv. monitoring and controlling
Validated changes and validated deliverables are the outputs of the monitoring and controlling sub-process of project quality management.
Project quality management is the process in which the quality of all activities is measured continuously and taking the corrective action until the desired quality is achieved.
Quality management processes help the organization to control the cost of a project, after controlling the cost of project standards are established and the steps in achieving and confirming those standards are determined.
Effective quality management of a project must lowers the risk of product failure or unsatisfied and unhappy clients.
Project quality management occurs with these three processes:
Quality planning
Quality assurance
Quality control
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Jimmy always has a face-to-face meeting before he works with any buyer. what might be a good reason for this?
Jimmy always uses a face-to-face meeting before he works with any buyer. The main reason for this is "to build trust and rapport".
What do you mean by Meeting?A meeting is defined as the transmission between more than two individuals who talk over one or more topics with each other.
The meeting can be face to face, verbal, non-verbal or through the social media like cell-phones or video call. This is helpful for making best decisions.
Nowadays, when the chances of coronavirus increase day by day, most of the companies use face-to face interactions in order to reduce chances of this disease and doing promotions activities along with candidate's interviews.
Face-to-face communication is better than the written or audio communication because it is helpful to create a stronger trust between the parties. This provide the information about candidate or a consumer effectively.
Moreover, jimmy uses this type of meeting in order to interact more buyers as well as create a strong bond between them . This leads to increase in productivity.
Through this Jimmy can effectively read their buyer's body languages and get the information regarding any changes or improvement in his product.
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The internal environment influences how organizations establish strategies and objectives as well as identify, assess and respond to risk.
a. true
b. false
TRUE, The internal environment influences how organizations establish strategies and objectives as well as identify, assess and respond to risk.
The environment can be defined as the totality of all biotic and abiotic factors and their influences that affect human life. All living or biotic elements are animals, plants, forests, fisheries and birds, while abiotic or abiotic elements include water, land, sunlight, rocks and air.
1: The environment, objects, or conditions in which a person is surrounded.
2a: A complex of physical, chemical and biological factors (climate, soil, organisms, etc.) that act on an organism or ecosystem group and ultimately determine its morphology and survival.
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Argus company anticipates that other sales will be affected by the acceptance of a special order. what should the company do?
Consider the opportunity cost of lost sales in the incremental analysis.
What is opportunity cost?The opportunity cost of a specific activity option in microeconomic theory is the loss of value or benefit that would be experienced by engaging in that activity, as opposed to engaging in an alternative activity that offers a higher return in value or benefit.
The value of the next best alternative or option is referred to as the opportunity cost. This value may or may not be monetary. Value can also be measured using other criteria such as time or satisfaction. One formula for calculating opportunity costs may be the ratio of what you give up to what you receive.
The growing opportunity cost law: As the production of one good increases, so does the opportunity cost of producing the extra good.
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Which of the following is an example of voluntary debt - that is, debt a person or business creates in good faith and not under duress? A. Mortgage B. All of these C. Boat loan D. Car loan
A mortgage is an example of voluntary debt - that is, debt a person or business creates in good faith and not under duress.
Mortgages are a sort of loan that can be used to buy or keep up a house, land, or another piece of real estate. The borrower agrees to make periodic payments to the lender, usually in the form of a series of regular instalments that are split into principal and interest. The property then acts as security for the loan.
Applying for a mortgage requires a borrower to make sure they meet a number of standards, including minimum credit ratings and down payments. Prior to closing, mortgage applications go through a thorough underwriting procedure. The borrower's needs will determine the different mortgage options, such as fixed-rate and conventional loans.
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Media ________ is the process of choosing the exact kinds of media to be used for an advertising campaign
Media planning is the process of choosing the exact kinds of media to be used for an advertising campaign.
An advertising campaign is a series of commercial messages that percentage an unmarried concept and subject which make up an integrated advertising communique. An IMC is a platform wherein a group of humans can institution their thoughts, ideals, and ideas into one massive media base.
This form of advertising campaign entrepreneurs to create applicable campaigns for the proper people. As an instance, a sportswear manufacturer can boom its income by means of placing ads on blogs devoted to sports activities considering the fact that people interested in sports activities are very probable to be interested in sports activities garb.
Advertising campaigns are a set of commercials that focus on a single message. they're meant to satisfy a particular commercial enterprise goal in addition to leading to conversions.
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The critical ways that firms can obtain a sustainable competitive advantage are/is called the _____ for that industry.
The critical ways that firms can obtain a sustainable competitive advantage are/is called the barriers to entry for that industry.
What is competitive advantage?Competitive advantages refers to those economic variables, which place a company above its competitors whereas it is produces similar goods at a cheaper rate, compared to its rival.
It is the ability of a company to produce goods more efficiently than its competitors, which leads to greater profit margins.
Examples of competitive advantage are:
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A leader who fosters collaboration, does not act alone, and focuses on strengthening others is using the leadership practice of __________________.
A leader who fosters collaboration, does not act alone, and focuses on strengthening others is using the leadership practice of. Encourage collaboration. Empowering Others.
Collaborative leadership is a management practice in which members of a leadership team collaborate across disciplines to make decisions and maintain an organization's success.
A transformational leader is someone who: Promote employee motivation and positive growth. Set moral standards within the organization and encourage others to do so. Promote an ethical work environment with clear values, priorities and standards.
In collaborative leadership, the leader seeks input from the team before selecting a process for a particular project. For example, video calls, brainstorming with whiteboards, and collaborating on shared documents. Collaborative leadership promotes a supportive and harmonious work environment.
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________ was initially intended to bring people together to raise funds for a cause.
Fundraiser was initially intended to bring people together to raise funds for a cause.
A fundraiser is an event with a goal of raising funds for an organization. A fundraiser is an event in which an organization cultivates donors as the main members who provide funding's to the particular organization. Thus, a person who raises the money from such donors is known as a fundraiser.
Fundraising provides with supplemental funds which enhances what the group does and provide new opportunities for the members. It can also benefit the community or an individual in the community that needs financial assistance.
Hence, fundraiser was initially intended to bring people together to raise funds for a cause.
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The first time ever corporation sells two products with a sales mix of 4:1 respectively for product a and b. what is the breakeven point in sales considering this additional information?
The correct answer is Sales of [tex]$40,000[/tex] for A, [tex]$20,000[/tex] for B.
Sales:
Lets consider 1 batch of production to contain [tex]4[/tex] units of A and [tex]1[/tex] unit B so as to maintain the product mix.
We will now first calculate the contribution from [tex]1[/tex] batch of production.
Contribution = Selling Price - Variable Cost
A and B
Selling Price [tex]50[/tex] and [tex]100[/tex]
Variable Cost [tex]20[/tex] and [tex]40[/tex]
Contribution [tex]30[/tex] and [tex]60[/tex]
Contribution per batch = Contribution of A * 4 + Contribution of B * 1 = [tex]30*4 + 60*1 = 180[/tex]
Total Fixed Cost = [tex]36000[/tex]
We know that Breakeven units = Total fixed cost / contribution per unit
So, Breakeven no. of batches [tex]= 36000 / 180 = 200[/tex] batches
Breakeven Sales of A = Breakeven no. of batches * units per batch * selling price per unit
[tex]= 200 * 4 * 50 = 40000[/tex]
Breakeven Sales of B = Breakeven no. of batches * units per batch * selling price per unit
[tex]= 200 * 1 * 100 = 20000[/tex]
Therefore, the correct answer is Option B - Sales of [tex]$40,000[/tex] for A, [tex]$20,000[/tex] for B.
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Which of the compensation systems listed are likely to be effective in building cohesive teams?
Which of the compensation systems listed are likely to be effective in building cohesive teams: skill-based pay and gain-sharing
A building is a structure that has a roof and walls, for example, a house or a factory.
A relatively permanent enclosed construction over a plot of land, having a roof and usually windows and often more than one level, is used for any of a wide variety of activities, such as living, entertaining, or manufacturing. anything built or constructed.
A structure with walls and a roof standing more or less permanently in one place is commonly known as a building.
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The goods or services purchased by a business for immediate use in the production process are known as?
Intermediate inputs are the goods or services purchased by a business for immediate use in the production process. The items and services that are utilized in the manufacturing process to create other goods or services rather than being used for end use are known as an industry's intermediate inputs.
These include energy, raw materials, semi-finished products, and services that are obtained from all sources. It is equivalent to the sector's gross output minus value added . They might be changed or consumed during the production process. Land, labor, and capital are not considered intermediate inputs because they are fundamental inputs.
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If customers can see data about themselves on the business' computer system, it will enable them to ____________
If customers can see data about themselves on the business' computer system, it will enable them to make better and more informed decisions.
How do information systems help businesses?Business Information System, eases the process of decision making and simplifies the process of delivering the required information and hence assists in taking better decisions instantly. Business Information System (BIS) can be effectively implemented to help communication better between the employers and the employees.
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Texas relies on ____________ taxes more than any other source of revenue to fund the government.
Texas relies on high sales and use taxes more than any other source of revenue to fund the government.
What are Taxes?A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Tax is one of the major ways a state or country generates funds to run a successful government.
It is one of the civic responsibility a citizen owes to his state or country
Taxes can be based on income ore the purchase of a commodity or service.
The State of Texas relies more on taxes derived from high sales and Use than any other form of tax.
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When is a firm a monopoly, or are monopolies only theoretical concepts that do not exist?
A firm is a monopoly when there is one producer or a manufacturer who produces products or services which has no substitute or competition in the market and customer buy that specific products or services from that manufacturer only. Sometimes monopoly companies has competitors and substitutes but they don't effect the company's profit at all.
Microsoft, Fac-ebook and Go-ogle are real life examples of monopoly. They enjoy monopoly in their respective goods or services which has little competition that does not effect their profits and market stability. Like these three there are many monopolies in the market which shows monopolies are not theoretical concept and they even exist.
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Lead firms sometimes create contradictory demands on suppliers, for example, by insisting on low costs as well as compliance with expensive environmental standards.
a. true
b. false
Lead firms sometimes create contradictory demands on suppliers, for example, by insisting on low costs as well as compliance with expensive environmental standards this statement is false.
What are Lead firms?For this study, lead firms are small, medium, or large businesses that have direct or indirect business connections with a sizable number of MSMEs. Buyers, traders, input suppliers, veterinarians, exporters, and processors are a few examples of lead businesses.What are environmental standards?Governments often impose environmental regulations, which may include banning particular activities, demanding regular monitoring, obtaining permits for using land or water, and more. Depending on the type of environmental action, different standards apply.Learn more about Lead firms here:
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Question 7 of 12 The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called
The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called joint and survivor. An insurance plan called a joint and survivor annuity is generally made for retired couples who desire a guaranteed monthly income that will last as long as either partner does.
Potential investor must carefully consider associated fees and settlement. Annuity fees typically cost 2.3 percent of annuity's value, although they can be more expensive, especially in sophisticated plans. The benefit of joint and survivor annuity is that it will pay out if one or both beneficiaries live longer than anticipated.
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