This is an example of a futures contract, which is an agreement between two parties (in this case, Great Lakes Farm) to buy or sell an asset at a predetermined price and date in the future.
A futures contract is a standardized agreement between two parties to buy or sell an underlying asset at a specific price and date in the future. In this case, Great Lakes Farm agreed to sell 25,000 bushels of wheat to General Mills at a price of $9.75 per bushel, six months from now.
Futures contracts are commonly used in the commodities markets to hedge against price fluctuations and manage risk. They are also traded by speculators who hope to profit from changes in the market price of the underlying asset.
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How would you describe the change in quantity demanded for these each of these products?
a. The income effect
b. The substitution effect
c. The advertising effect
d. The equilibrium effect
Quantity demanded can be affected by changes in income, price of related products, marketing efforts, and market conditions. See more description below.
What is the Change in Quantity Demanded?Change in quantity demanded refers to the change in the quantity of a product that consumers are willing and able to purchase at a particular price point, resulting from various factors.
a. The income effect describes the change in quantity demanded of a product as a result of changes in a consumer's income. If income increases, consumers may purchase more of the product, while a decrease in income may lead to a decrease in demand.
b. The substitution effect describes the change in quantity demanded of a product as a result of changes in the price of a related product. If the price of a substitute product increases, consumers may switch to purchasing the original product, leading to an increase in demand.
c. The advertising effect describes the change in quantity demanded of a product as a result of marketing and advertising efforts. If effective advertising increases consumer awareness and interest in a product, demand may increase.
d. The equilibrium effect describes the change in quantity demanded and supplied of a product as a result of changes in market conditions, such as changes in price, consumer preferences, or technology, which can lead to a new equilibrium point where supply and demand are in balance.
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classify each of the costs below as either a product cost or a period cost under (a) absorption costing and (b) variable costing.
Under absorption costing, both product costs and period costs are included in the cost of goods sold, while under variable costing, only product costs are included in the cost of goods sold, and period costs are treated as expenses.
Here are some examples of costs classified as product costs and period costs under absorption costing and variable costing:
(a) Absorption Costing:
Direct materials - Product Cost
Direct labor - Product Cost
Factory rent - Product Cost
Factory equipment depreciation - Product Cost
Sales commissions - Period Cost
Advertising - Period Cost
Office rent - Period Cost
Office salaries - Period Cost
(b) Variable Costing:
Direct materials - Product Cost
Direct labor - Product Cost
Factory rent - Product Cost
Factory equipment depreciation - Product Cost
Sales commissions - Period Cost
Advertising - Period Cost
Office rent - Period Cost
Office salaries - Period Cost
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which one of the following parties is most apt to hedge a position to lock in the price at which they can sell milk in the future? multiple choice question. cheese producer ice cream maker dairy farmer retail grocer
The dairy farmer is most apt to hedge a position to lock in the price at which they can sell milk in the future. Option C is correct.
Hedging is a risk management strategy used to protect against potential losses by taking an offsetting position in a related security or commodity. In this case, a party would hedge a position to lock in the price at which they can sell milk in the future.
Out of the given options, the dairy farmer is most likely to hedge their position. Dairy farmers are the primary producers of milk and are therefore exposed to the risk of price fluctuations in the market. By hedging their position, they can protect against potential losses if the price of milk falls in the future.
Cheese producers and ice cream makers are downstream processors of milk and may also be exposed to price risk, but their demand for milk may be more stable and predictable. Retail grocers are even further downstream in the supply chain and may not have as much direct exposure to milk prices. Therefore, the dairy farmer is most apt to hedge their position to lock in the price at which they can sell milk in the future. Option C is correct.
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if the price of a good rise from 10 dollars to 15 and quantity sold decreases from 10000 to 7000 what is the elastiity
The elasticity is -0.875. This means that the good is relatively inelastic, as the percentage change in quantity sold (-30%) is less than the percentage change in price (+50%).
The elasticity of a good can be calculated using the formula (Q2 - Q1) / (Q2 + Q1) / 2 ÷ (P2 - P1) / (P2 + P1) / 2 where Q1 and P1 are the original quantity and price, and Q2 and P2 are the new quantity and price respectively.
To find the elasticity when the price of a good rises from $10 to $15 and the quantity sold decreases from 10,000 to 7,000, we can use this formula as follows:
Elasticity = ((7,000 - 10,000) / ((7,000 + 10,000) / 2)) / ((15 - 10) / ((15 + 10) / 2))
Elasticity = (-3,000 / 8,500) / (5 / 12.5)
Elasticity = -0.35 / 0.4
Elasticity = -0.875
Therefore, the elasticity is -0.875. This means that the good is relatively inelastic, as the percentage change in quantity sold (-30%) is less than the percentage change in price (+50%).
This indicates that the demand for this good is relatively insensitive to changes in price, meaning that consumers are not very responsive to price changes.
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Refer to the above diagram, which shows demand and supply conditions in the competitive market for product X. Other things equal, a shift of the supply curve from S0 to S1 might be caused by a(n):
government subsidy per unit of output paid to firms producing X.
increase in the number of firms producing X.
decline in the price of the basic raw material used in producing X.
increase in the wage rates paid to laborers employed in the production of X.
According to the given graph, a shift of the supply curve from S0 to S1 might be caused by an increase in the wage rates paid to laborers employed in the production of X.
Let's understand how this conclusion was made: The above diagram represents the market for product X. The horizontal axis represents the quantity of product X, while the vertical axis represents the price of product X. The demand curve shows the relationship between the price of the product X and the quantity of X that consumers are willing to buy. It slopes downwards as the price of the product decreases, and the quantity demanded increases. The supply curve shows the relationship between the price of product X and the quantity of X that producers are willing to sell. It slopes upwards as the price of the product increases, and the quantity supplied increases. The point where the supply and demand curve intersects is called equilibrium. It represents the price at which the quantity demanded by the consumer is equal to the quantity supplied by the producer. At equilibrium, there is no shortage or surplus of the product in the market. It is represented by point E in the graph.
Other things being equal, a shift of the supply curve from S0 to S1 might be caused by an increase in the wage rates paid to laborers employed in the production of X. A rise in wage rates will lead to a rise in the cost of production of product X. Hence, firms would need to charge higher prices to cover the higher cost of production. Therefore, the supply curve will shift from S0 to S1.
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the reasons why many new products fail include: multiple select question. too early to market poor packaging too few differences from competitors poor positioning
Many new products fail because:
poor packaging poor positioning too late to marketThere are several reasons why new products fail, and poor packaging, poor positioning, and being too late to market are three common factors. Poor packaging can make it difficult for a product to stand out on the shelf and may not effectively communicate the benefits of the product to consumers. Poor positioning can lead to a product being marketed to the wrong audience or not emphasizing its unique selling points.
Being too late to market means that competitors may have already established a foothold, making it difficult for a new product to gain traction. By addressing these issues through effective marketing strategies and product development, companies can increase their chances of success when launching new products.
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the equal employment opportunity commission issues a statement describing how it will apply a section of the americans with disability act. this statement is an example of a(n):
The equal employment opportunity commission issues a statement describing how it will apply a section of the Americans with Disability Act. This statement is an example of a regulatory policy.
The term "regulatory policy" refers to the government's approach to the control, direction, and influence of economic activity. It's a broad term that encompasses everything from national regulatory agencies to local zoning boards. The government's efforts to regulate business and society are the primary focus of regulatory policy. Government bodies develop regulatory policies to maintain high standards in the public's interest. It ensures that companies meet particular criteria, such as providing equal opportunity and following health and safety laws.
A regulatory policy is a course of action adopted by a government regulatory agency to solve an issue or to ensure that specific activities or operations are conducted within a particular context. The regulatory policy is implemented to achieve a set of goals or objectives that have been established for the regulatory agency.
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the government safety net creates problem because risk-loving entrepreneurs might find banking an attractive industry. a. an adverse selection b. a revenue c. a moral hazard d. a lemons
The government safety net creates an optio A. adverse selection problem because risk-loving entrepreneurs might find banking an attractive industry.
What is adverse selection?Adverse selection is a phenomenon that occurs when one party has more information than the other party in a transaction, and this information asymmetry leads to an unfavorable outcome for the party with less information.
When vendors and/or purchasers have different knowledge about a certain component of a product's quality, this is referred to as adverse selection. So, those who work in hazardous environments or lead high-risk lives are more likely to buy life or disability insurance, knowing that they will likely be able to use it.
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complete question;
The government safety net creates ________ problem because risk-loving entrepreneurs might find banking an attractive industry.
verifying the minimum level of capital or equity that must be held to fund the operations of an fi is part of the goal of
Verifying the minimum level of capital or equity that must be held to fund the operations of an FI is part of the goal of capital adequacy regulation.
Capital adequacy regulation is one of the most critical financial sector regulations that seek to ensure the financial stability of the banking sector.
Capital adequacy is the minimum level of capital or equity that must be held by banks and other financial institutions (FIs) to fund their operations. Capital adequacy is measured by comparing the capital held by the FIs to the risk-weighted assets.
The primary goal of capital adequacy regulation is to ensure that FIs have enough capital or equity to absorb any losses that may arise from the various risks they face, such as credit risk, operational risk, and market risk.
This, in turn, ensures that the FIs remain solvent and are capable of fulfilling their financial obligations to customers and depositors.
The minimum capital requirements are intended to ensure that FIs have enough capital to absorb any losses they may incur, even under adverse conditions. Central banks and other financial sector regulators are responsible for ensuring that FIs comply with the capital adequacy regulations.
Failure to comply with the capital adequacy regulations may result in sanctions or other penalties, including restrictions on business activities or revocation of licenses.
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while deciding the type of information-sharing technology that a company will be using for its global network, the company's information system manager should keep in mind that:
While deciding the type of information-sharing technology that a company will be using for its global network, the company's information system manager should keep in mind several factors, including:
Compatibility: The technology must be compatible with existing systems and software, as well as with the systems and software used by suppliers, customers, and partners.Security: The technology must be secure and able to protect sensitive information from unauthorized access or disclosure.Reliability: The technology must be reliable and available to users at all times, regardless of geographic location.Cost: The cost of the technology must be within the company's budget and provide value for money.Scalability: The technology must be able to scale up or down to accommodate changes in the company's size or global network.User experience: The technology must be user-friendly and easy to use, especially for employees in different locations and with different levels of technical expertise.Flexibility: The technology must be flexible enough to accommodate different business processes and adapt to changing business needs.Overall, the information system manager should choose a technology that best supports the company's global network and ensures seamless communication and collaboration across different locations and time zones.
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Which of the following are examples of business activities? order takinginvoicing customersdelivery of products
All the three options are examples of business activities which include order taking, invoicing customers, and delivery of products.
Business activities are the activities carried out by an individual, company, or organization to generate revenue. Business activities can range from creating a product to delivering it to the end-users. Some of the examples of business activities are:
Order Taking: This is a business activity that involves receiving and processing orders from customers. Invoicing Customers: Invoicing is a business activity that involves billing customers for products or services they have purchased. Delivery of Products: This is a business activity that involves the physical transportation of goods to customers.The three examples mentioned above are some of the common examples of business activities. Business activities are essential in the business world as they enable companies to generate revenue. Without these activities, businesses would not be able to generate revenue or grow their businesses. The aim of carrying out business activities is to ensure that the company is profitable and that it meets the needs of its customers.
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if i deposit $5,250 into an account today that pays 8.3% interest per annum (i.e., p.a.), how much will be in my account exactly two years from today? question 5 options: $4,476.13 $6,668.75 $5,322.88 $6,157.67 $5,685.75
If you deposit $5,250 into an account today that pays 8.3% interest per annum (i.e., p.a.), then exactly two years from today the amount in your account will be $6,668.75. The correct answer is B.
Using the formula for compound interest, we have:
A = P(1 + r/n)^(nt)
where:
A = the amount in the account after time t
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the time (in years)
In this case, P = $5,250, r = 0.083, n = 1 (compounded annually), and t = 2. Plugging in these values, we get:
A = 5,250(1 + 0.083/1)²
A = $6,668.75
Therefore, the amount in the account exactly two years from today would be $6,668.75. The correct answer is B.
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Ten thousand people wanted to attend a concert, but the stadium only seats 3,000. Because of the high demand, concert officials increased the price of admission to a point
where only 3,000 people were able to afford the price. Which of the following best relates to the other 7,000 people who were unable to attend the concert:
Limited demand
Price incentives
Price rationing
Excess supply
It would be an example of price rationing. Since 3000 could only attend, they would have to increase the price to gain a profit from the demand.
which option would not help rebecca get the furniture as soon as possible? a) installment loan b) layaway plan c) credit card d) rent-to-own
The layaway plan under option B is the greatest choice.
Describe the layaway plan ?Layaway is a term for a deferred payment plan in which the consumer makes deposits or installment payments for goods they intend to buy later. Once the customer makes the initial payment, the retailer reserves, lays away, and stores the item for a predetermined duration.
During these times, the layaway payment plan became a more practical and cost-effective approach to handle pricey items. Customers were able to pay in tiny deposits. The deferred payment plan has been available in significant retail shops for many years and has grown in popularity.
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if the irr of a project is equal to the rrr for the company, the net present value for the project will be .
If the Internal Rate of Return (IRR) of a project is equal to the Required Rate of Return (RRR) for the company, the Net Present Value (NPV) for the project will be zero.
What is rate of return?
This is because the IRR and RRR signify the same rate of return for the company or project. At a zero NPV, the inflow of cash is equal to the outflow of cash, and the project's return is equal to the RRR or the company's desired rate of return.
The IRR is a financial metric that calculates the rate of return at which the present value of all anticipated future cash flows equals the initial investment or cost of the project. It is a rate that makes the project's NPV equal to zero. If the IRR is equal to or greater than the RRR, the project is deemed acceptable or worthwhile.
However, if the IRR is less than the RRR, the project is considered risky or unprofitable. If the IRR is equal to the RRR, the project is deemed acceptable, but there will be no surplus cash to allocate. The NPV will be zero in such a case.
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all of the following bank reconciliation items would result in a journal entry on the company's books except: multiple choice interest earned. outstanding checks. service charge.
If all of the following bank reconciliation items would result in a journal entry on the company's books except Interest earned.
Interest earned is an income account that is recorded in the company's books when the bank pays interest on the company's deposits. Since the company has not yet recorded this income, there is no need for a journal entry to be made.
Outstanding checks and service charges are both items that need to be reconciled between the bank's records and the company's records. Outstanding checks are checks that have been issued by the company but have not yet been cleared by the bank, while service charges are fees that the bank charges the company for its services.
Both of these items require adjustments to be made in the company's books through journal entries.
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smith and smith accountants has detailed job descriptions and policy manuals that tell each employee exactly how to do their job.
Smith and Smith Accountants utilizes detailed job descriptions and policy manuals to provide clear instructions for employees on performing their tasks.
This approach ensures that each employee understands their specific responsibilities and the correct procedures for their role. The step-by-step guidance provided by these documents helps maintain a high level of efficiency and accuracy within the organization.
Detailed job descriptions outline the primary duties, necessary qualifications, and expectations for each position, while policy manuals provide instructions on company policies, standards, and best practices.
By having clear guidelines in place, Smith and Smith Accountants can reduce misunderstandings, ensure consistent performance, and create a more cohesive and effective work environment for their employees.
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once managers determine what work needs to be done, they then need to divide up the tasks among workers. this is called of . need help? review these concept resources.
Once managers determine what work needs to be done, they then need to divide up the tasks among workers. This is called task allocation.
What is task allocation?Task allocation is the process of determining which tasks are to be accomplished by whom. It is the process of assigning tasks to specific people and groups within an organization. Task allocation is a vital element of an effective organizational strategy.
Managers must determine what work needs to be done, the people who can do it, and how best to use their time, energy, and talents. Task allocation, in essence, is the process of identifying and distributing work amongst team members based on their abilities, expertise, and responsibilities.
This process is important because it allows managers to delegate duties in such a way that everyone has a clear understanding of their responsibilities and their role in the organization.
Task allocation allows managers to ensure that all necessary work is completed in a timely and efficient manner, while also enabling them to respond quickly to new developments or changing priorities.
In addition, task allocation helps to ensure that team members are working on projects that are within their abilities and interests, and that they have the resources they need to complete their work successfully.
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poehling medical center has a single operating room that is used by local physicians to perform surgical procedures. the cost of using the operating room is accumulated by each patient procedure and includes the direct materials costs (drugs and medical devices), physician surgical time, and operating room overhead. on january 1 of the current year, the annual operating room overhead is estimated to be: disposable supplies $237,600 depreciation expense 59,500 utilities 25,400 nurse salaries 220,900 technician wages 100,600 total operating room overhead $644,000 the overhead costs will be assigned to procedures, based on the number of surgical room hours. poehling medical center expects to use the operating room an average of eight hours per day, seven days per week. in addition, the operating room will be shut down two weeks per year for general repairs. this information has been collected in the microsoft excel online file. open the spreadsheet, perform the required analysis, and input your answers in the questions below. open spreadsheet determine the predetermined operating room overhead rate for the year. round your answer to the nearest dollar. $fill in the blank 2 per hour bill harris had a five-hour procedure on january 22. how much operating room overhead would be charged to his procedure, using the rate determined in part (a)? round your answer to the nearest dollar. $fill in the blank 3 during january, the operating room was used 220 hours. the actual overhead costs incurred for january were $48,900. determine the overapplied operating overhead or underapplied operating overhead for the period. enter your answer as a positive number. round your answer to the nearest dollar. $fill in the blank 4
Rounded to the nearest dollar, the underapplied operating overhead for the period is $41,860.
(a) The predetermined operating room overhead rate for the year is calculated as follows:
Total operating room overhead / Expected annual operating room hours
= $644,000 / [(365 days - 2 weeks) x 8 hours per day x 7 days per week]
= $644,000 / (365 - 14) x 8 x 7
= $644,000 / 20,216
= $31.84 per hour
Rounded to the nearest dollar, the predetermined operating room overhead rate for the year is $32 per hour.
(b) The operating room overhead charged to Bill Harris's procedure is:
Operating room overhead rate x Hours of procedure
= $32 per hour x 5 hours
= $160
Rounded to the nearest dollar, the operating room overhead charged to Bill Harris's procedure is $160.
(c) The actual overhead costs incurred for January were $48,900, while the overhead that should have been charged based on actual usage was:
Operating room overhead rate x Actual hours of usage
= $32 per hour x 220 hours
= $7,040
The difference between actual overhead costs and overhead charged based on actual usage is:
Actual overhead costs - Overhead charged based on actual usage
= $48,900 - $7,040
= $41,860
Since actual overhead costs are greater than overhead charged based on actual usage, there is an underapplied operating overhead of $41,860 for the period.
Rounded to the nearest dollar, the underapplied operating overhead for the period is $41,860.
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there exist important trade-offs between value creation and low cost because value creation and cost tend to be multiple choice independent of each other. inversely related. negatively correlated. positively correlated.
There exist important trade-offs between value creation and low cost because value creation and cost tend to be B: inversely related.
This means that as the level of value creation increases, the cost of producing that value tends to increase as well. Conversely, if a company wants to lower costs, it may need to reduce the level of value it creates.
Finding the right balance between value creation and low cost is essential for companies that want to achieve sustainable competitive advantage. Companies that can deliver high value at a low cost are often able to capture market share and outperform their competitors.
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seven seas company manufactures 100 luxury yachts per month. included in each yacht is a compact media center. seven seas manufactures the media center in-house, but is considering the possibility of outsourcing that function, in order to close down some of their facilities and reduce the administrative costs. at present, the variable cost per unit is $275 and the fixed costs are $39,000 per month. assuming that if they outsource, and the fixed costs could be eliminated entirely, at what contract rate would outsourcing pay off for seven seas? (please round to nearest whole dollar.)
If Seven Seas can outsource the media center function for a contract rate of $665 or less.
What is a selling price?The selling price is usually determined by adding a profit margin to the cost of producing the product or providing the service.
We know;
Break-even point = (Fixed-costs) / (Contribution-margin per unit)
Contribution-margin per unit = (Selling price per unit) - (Variable cost per unit)
The total variable cost per month for the media centers is:
Variable cost per month = 100 yachts/month x $275/media center = $27,500/month
Let's call the contract rate for outsourcing "X",
Contribution margin per unit = X - $275
Break-even point = $39,000 / (X - $275) = 100 units/month
Simplifying this equation, we get: (X - $275) = $390
X = $665
Therefore, if Seven Seas can outsource the media center function for a contract rate of $665 or less, it will be more cost-effective than in-house production.
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the financial statement of a corporation includes the balance sheet and the a) income statement b) statement of additional information c) working capital statement d) proxy statement
Answer: The financial statement of a corporation includes the balance sheet and the income statement.
Explanation:
What is the Balance Sheet?
A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholder's equity at a specific point in time. These three segments of a company's financial situation provide investors with an idea of what a company's financial situation looks like at a given time. The three sections of a balance sheet are divided as follows:
Assets: What a corporation owns or has a claim to in the future, such as funds or inventory. Liabilities: These are financial obligations that a corporation must meet, such as taxes or loans. Shareholders' Equity: The value of the company that is owed to the company's owners or shareholders is referred to as equity.The sum of the three components is equal to the company's total value. It's worth noting that a balance sheet represents the state of the business's finances at a certain time, not over a period of time.
This is in contrast to an income statement, which summarizes a company's earnings and expenses over a period of time, typically a quarter or year.
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if the yield increases--and everything else remains the same--the required capacity in flow units per time period . multiple choice question.
If the yield increases--and everything else remains the same--the required capacity in flow units per time period will? Increase. The correct answer is option D.
This is because when the yield increases, more output is produced in the same amount of time, and thus the required capacity is higher.
In other words, if the yield increases, the required capacity will also increase as it needs to be able to accommodate the increased output. If the yield increases--and everything else remains the same--the required capacity in flow units per time period also increases.
What is meant by required capacity?
The required capacity is the amount of energy, labor, or other inputs required to produce a product or service. In operations management, required capacity refers to the level of output required to meet a specific demand level over a specified period of time.Increases in yield increase the level of output required to meet a given demand level over a specified period of time, resulting in an increase in required capacity. Other things remaining constant, an increase in yield results in an increase in capacity required.
The correct answer is option D.
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when a salesperson has been introduced to a sales lead by another customer, that salesperson has been provided a(n) .
The salesperson has been provided a referral.
A referral is when a customer provides an introduction to another customer who might be interested in the salesperson's services or products.
This is beneficial because it helps the salesperson make a connection with the potential customer and build a relationship from the start.
When a customer provides a referral, it can give the salesperson credibility as the customer is vouching for the salesperson's services or products. This also helps build trust between the salesperson and potential customer as the referral is based on the customer's trust in the salesperson.
It can also open up potential opportunities that may not have been available without the referral. Finally, it can help the salesperson save time and resources that might have been used to find the customer on their own.
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marquis hasn't paid her property taxes for two years. she's behind on her mortgage and hoa fees, and the contractor who remodeled marquis' kitchen has filed a mechanic's lien. which lien gets paid first in the case of a foreclosure?
In the case of a foreclosure, the lien that would get paid first is the mechanic's lien. This is because mechanic's liens are prioritized over mortgage and HOA fees due to the fact that it is related to labor and materials that have been provided to improve the property. As such, the contractor's mechanic's lien must be paid first before any other lien can be satisfied in the case of a foreclosure.
In the case of a foreclosure, the mechanic's lien takes precedence over all other liens. This is because the mechanic's lien is related to labor and materials that have been provided to improve the property and is thus given priority over any mortgage or HOA fees. Before any other liens can be paid in the case of a foreclosure, the contractor's mechanic's lien must be satisfied first.
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for the purposes for which they are used, money market securities should have which of the following characteristics? i. low trading costs ii. little price risk iii. high rate of return iv. life greater than one year
For the purposes for which they are used, money market securities should have low trading costs.
The correct answer is i. low trading costs.
Money market securities are short-term, low-risk investments. In the money market, securities with a maturity of less than one year are traded. As a result, securities with a maturity greater than one year should not be included. Money market securities' primary goal is to provide liquidity to financial markets, as well as to provide investors with a secure place to park their money.
The characteristics that a money market security should have are as follows:1. Little price risk: Money market securities should have very little price risk. This means that they are not vulnerable to significant fluctuations in value, which ensures that investors' principal is preserved.
2. Low trading costs: Money market securities should have low trading costs. This allows investors to enter and exit positions with a minimum of expense.3. Life greater than one year: Securities with a maturity greater than one year should not be included in the money market.4. High rate of return: Money market securities are low-risk investments, which means that they provide lower returns than other types of securities. Investors who are looking for higher returns should look for other types of investments outside of the money market.
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which of the following views on decision making is most closely associated with the economics of information approach to the search process, assuming that consumers collect just as much data as needed to make an informed decision? question 89 options: behavioral influence perspective constructive perspective experiential perspective traditional perspective
The Economics of Information approach to the search process is most closely associated with the Traditional Perspective of decision making. This approach assumes that consumers are rational, have all of the information they need to make a decision, and will make a decision based on cost and benefit. In this approach, the focus is on the search process and the rational decisions that consumers make when gathering information in order to decide.
The Traditional Perspective emphasizes the ability of consumers to gather the necessary information, evaluate their options, and make a rational decision based on the costs and benefits of their choices. Consumers will search for information until the additional cost of acquiring more information outweighs the benefit of knowing more. This approach assumes that consumers are rational and will collect just as much data as needed to make an informed decision.
In conclusion, the Economics of Information approach to the search process is most closely associated with the Traditional Perspective of decision making. This approach assumes that consumers are rational, have all of the information they need to make a decision, and will make a decision based on cost and benefit.
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Kilroy uses the net method to record sales on account. kilroy sells goods on account for $1,000 with terms 2/10, n/30. the journal entry to record this transaction will include (select all that apply.) multiple select question. debit to sales, $1,000.
credit to sales, $980.
credit to sales, $1,000. credit to accounts receivable, $980. debit to accounts receivable, $1,000.
debit to accounts receivable, $980.
Answer: The journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000.
Explanation: When Kilroy sells goods on account for $1,000 with terms 2/10, n/30 and uses the net method to record sales on account, the journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000. The terms 2/10, n/30 mean that if the customer pays within 10 days of the invoice date they will receive a 2% discount. If they do not pay within 10 days they must pay the full amount within 30 days of the invoice date.
Received message. The journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000. When Kilroy sells goods on account for $1,000 with terms 2/10, n/30 and uses the net method to record sales on account, the journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000. The terms 2/10, n/30 mean that if the customer pays within 10 days of the invoice date they will receive a 2% discount. If they do not pay within 10 days they must pay the full amount within 30 days of the invoice date.
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the bookkeeper for company wrote a check for to pay for furnace maintenance. the check was incorrectly recorded in the general journal as . the entry to correct this error would be
The entry to correct the incorrectly recorded check in the general journal is a debit to Cash and a credit to the expense account that the check was meant to pay.
The entry to correct this error in the general journal would be to debit the account Furnace Maintenance and credit the account Cash for the amount of the check. HTML Version: The entry to correct this error in the general journal would be to debit the account Furnace Maintenance and credit the account Cash for the amount of the check.
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Activity-based management seeks to maximize ______________ while minimizing _________ of activities
Activity Based Management is a system of relating and assessing the conditioning carried out by a company.
activity- based management aims to maximize value while minimizing activity costs.
Action- Grounded operation( ABM) is a way of assaying a company's profitability by examining all aspects of its operations to identify strengths and sins. ABM helps operation identify areas of the business that are losing plutocrat so they can be bettered or reduced overall.
This operation system has been proven to reduce waste, better( process) quality, reduce lead times and introduce new products faster. Executives using this frame examine each business process and perform an exertion- grounded cost and value chain analysis to understand its strengths and weaknesses.
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