Lemon spoke to his friend Breyer, who offered Lemon $120,000 for the ranch. Lemon immediately wrote to martin telling him that his offer to sell at $80,000 had changed and that Martin's letter on Feb 14 created a valid agreement among he and Lemon.
What is an Agreement?
An agreement is the means through which two or more persons express their shared assent. It happens as a result of an offer and an acceptance and symbolises the fusion of ideas towards a common objective. One can express an agreement by words, actions, and in certain cases even silence. As a term for a legally enforceable contract, "agreement" is defined differently in various jurisdictions.
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Before creating a workforce schedule, an operations manager should create what future time-horizon forecast?
Before creating a workforce schedule, an operations manager should create Short Range future time-horizon forecast.
What is workforce schedule ?
Workforce scheduling is defined as the process of creating hourly worker schedules to meet current and future demands in a workplace, such as a restaurant, hospital, or retail store. It also entails creating schedules so that the transition from one shift to the next is smooth and work continues uninterrupted.
Workforce scheduling is the foundation of smooth business operation in any industry that relies on hourly workers. And this scheduling must be efficient in order to accommodate last-minute changes such as tardiness in reporting for work and unexpected leave of absence, among other things. However, with scheduling automation on the rise and an increase in the number of apps available to manage scheduling large workforces, workforce scheduling can become more complex.
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The law of demand states that price and ______________ are _____________ related, ceteris paribus.
The law of demand states that price and quantity demanded are inversely related, ceteris paribus.
More about law of demand:
One of the most basic assumptions in economics is the law of demand. It explains how market economies distribute resources and establish the prices of goods and services that we encounter in daily transactions by combining the law of supply.
The quantity wanted is plotted on the x-axis versus the price on the y-axis to create the demand curve. According to the definition of the law of demand, the demand curve slopes downward. According to the law of demand, the quantity bought varies inversely with price. In other words, the quantity demanded decreases as the price increases. Because of declining marginal utility, this happens.
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The federal reserve might consider an easing of credit if all of the following decline except? a real gross domestic product b stock prices c consumer price index d unemployment levels
The federal reserve might consider an easing of credit if all of the following decline except unemployment levels.
Unemployment, in line with the OECD, is people above a distinctive age no longer being in paid employment or self-employment however presently available for work throughout the reference period. Unemployment is measured via the unemployment price, that's the number of people who are unemployed as a percent of the labour force.
The time period unemployment refers to a scenario in which a person actively searches for employment but is unable to find work. Unemployment is taken into consideration to be a key measure of the health of the economy. The maximum frequently used degree of unemployment is the unemployment rate.
There are 4 predominant sorts of unemployment in an economic system—frictional, structural, cyclical, and seasonal—and every has a distinctive purpose.
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If parts of a firm's intended strategy fall by the wayside, it is referred to as? emergent strategy. autonomous action. unrealized strategy. realized strategy.
If parts of a firm's intended strategy fall by the wayside, it is referred to as Unrealized Strategy.
Unrealized Strategy: The elements of an anticipated strategy that were dropped are referred to as unrealized strategies.
Example:
When aspiring novelist David McConnell was having trouble making sales, he made the decision to give away free perfume as a marketing ploy.
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Knowledge transfer and access to resources within the value chain are enhanced by?
Knowledge transfer and access to resources within the value chain are enhanced by social capital.
What is social capital?The term social capital can be used to refer to the relationship that would be in existence between the people that live in a particular society and also work in the society. They are the people that they communication and relationship would enable the society to function in a good way.
Hence we can say that Knowledge transfer and access to resources within the value chain are enhanced by social capital.
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In the cost plus pricing approach the desired roi per unit is computed by multiplying the roi percentage by:_____.
In the cost-plus pricing approach, the desired ROI per unit is computed by multiplying the ROI percentage by total assets.
The meaning of total assets is all the assets, or items of value, that a small business owns. Total assets include cash, accounts receivable (money you owe), inventory, equipment, tools, etc.
Determine your total assets by combining your liabilities with your equity. Since liabilities represent a negative value, the easiest way to find total assets with this formula is to subtract the value of equity or assets from the value of liabilities. The resulting figure equals your total assets.
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prepare sterling’s december 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value. 2. after the fair value adjustment is made, prepare the assets section of sterling’s december 31 year-end classified balance sheet. assume sterling plans to sell its stock investments with insignificant influence within the next two months of the upcoming year. 3. in which income statement section is the unrealized gain or loss on the portfolio of stock investments with insignificant influence reported?
Sterling’s December 31 year-end adjusting entry to report its stock investments is
1) Journal Entry:-
Particulars Debit($) Credit($)
Fair Value Adjustment A/c ($25000-(1000*$23)) 2000
Unrealized Holding Gain (Income Statement) 2000
2) Asset Section of Balance Sheet:-
Assets Amount($)
Short Term Investment:-
Investment in Shares of LDX 23000
Add: Fair Value Adjustment 2000
Total 25000
3) In Income Statement Section Unrealized Holding Gain is reported under Other Comprehensive Income.
Unrealized Holding Gain Amount = $2000
When you have some savings to invest, feel equipped to shop for shares, and don't need the cash for at least 5 years, then yes, leap in. even when the marketplace has lows — and 2022 has been full of them — in case you're invested for the long term, you'll have time to get better losses.
The easiest way to shop for shares is thru an online stockbroker. After opening and funding your account, you could purchase stocks via the broking's website in a remember of mins. other options consist of the use of a complete-service stockbroker or buying a stock without delay from the company.
Yes, you could lose any amount of money invested in shares. A corporation can lose all its fees, with a view to probably translate right into a declining stock fee. inventory expenses also range relying on the delivery and call for of the stock. If an inventory drops to 0, you can lose all of the cash you've invested.
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Exporting products overseas is an example of ________. a convertible trade fair trade a marketing mix strategy countertrade a market-entry strategy.
Exporting products overseas is an example of ________. a convertible trade fair trade a marketing mix strategy countertrade a market-entry strategy.
Countertrade is an example of exporting products overseas.
Describe countertrade.A reciprocal kind of international trade known as countertrade involves exchanging one good or service for another in place of hard currency. In underdeveloped nations with few credit or foreign exchange options, this kind of international trade is more prevalent .Barter, counterpurchase, offset, switch trading, buyback, and compensation trade are the five categories. Companies engage in countertrade for three major reasons: (1) to fulfill a foreign government mandate; (2) to protect themselves from price and currency swings; and (3) to repatriate revenues from nations that have currency export restrictions.
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you've done research on the competition in the area, and you worked for a sandwich franchise during college, so you're not entirely unfamiliar with the business. but you also know you've got a lot to learn, and you want to make the right decisions and make your business a success.
The business plan for the given case will comprise of Executive summary, company overview, market analysis, products or services, marketing and, sales approach and financial projections.
More about business plan:
The explanation of above mentioned elements of a business plan is an executive summary is a succinct, engaging introduction to your company, its clients, and how you intend to make the organisation successful. An executive summary of your organisation that includes a mission statement, the address, and key personnel. Market analysis provides in-depth knowledge about your industry, target market, rivals, and laws that may affect your organisation.
In business plan products or services is a description of your goods or services, how they will satisfy the needs of your clients, and advantages over those of your rivals. Marketing and sales are a description of your marketing strategy and how you will locate new clients. Financial predictions outline how your company will fulfil its financial commitments and sustain a positive cash flow.
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The law of diminishing returns states that the marginal productivity of additional resources employed_________________.
The law of diminishing marginal returns states that when an advantage is gained in a factor of production, the marginal productivity will typically diminish as production increases. An economic principle known as the law of diminishing returns states that as investment in a certain area increases.
The rate of profit from that investment can no longer increase at a certain point assuming other variables remain constant. The law of diminishing returns asserts that if the amount of the variable factor increases by a set rate in a production process where all other elements are fixed save one, the level of production will increase by a decreasing rate.
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If 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? what is this total amount expressed on a per unit basis?.
Your question is incomplete. Here is the full question:
A Company's relevant range of manufacturing is 7,500 units to 12,500 units. The unit costs when it manufactures and sells 10,000 units are given below. If 8,000 units are made, what is the total manufacturing overhead cost incurred to support this production status?
Amount per unit ($)
Direct materials 6.00
Direct Labor 3.50
Variable manufacturing overhead 1.50
Fixed manufacturing overhead 4.00
Fixed selling overhead 3.00
Fixed administrative overhead 2.00
Sales commissions 1.00
Variable administrative overhead 0.50
Answer:
The total amount of manufacturing overhead cost incurred to support the level of production of 8,000 units is $52,000.
Explanation:
The following equation will help determine the total manufacturing overhead:
Total manufacturing overhead = Variable manufacturing overhead + Fixed manufacturing overhead
Total manufacturing overhead = ($1.50 per unit × 8,000 units) + $40,000
Total manufacturing overhead = $52,000
Note:
The fixed manufacturing overhead will be $40,000 ($4 * 10,000 units) within the range of 7,500 units to 12,500 units.
The manufacturing overhead of a business incorporates direct material, direct labor, and manufacturing overhead incurred during the transformation of raw materials into finished goods.
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In mortgage lending, a borrower is required to pledge specific real property as security (collateral) for the loan in a practice called?
A property is pledged as collateral for a loan through a process known as hypothecation, which does not give the lender the legal ownership of the item. In a mortgage, the bought property is used as security for the loan, but the lender retains ownership.
What Is a Hypothecation Example?An investor who takes out a mortgage loan to buy an investment property would be an example of hypothecation. The asset is used as security for the loan. In the meantime, the investor receives the rental revenue it generates. However, if the investor doesn't make payments, the lender has the right to file for a foreclosure and seize the property.
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Which role would typically have the least amount of interaction with the customer?
Top management role would typically have the least amount of interaction with the customer.
The top level has the least interaction with the customer, as they are busy implementing rules and regulations and taking the important decisions of the organisation. They are most important part of organisation.
They include the board of directors, managing directors and chief executive officer which are the sole and the role in decision makers of the firm and faces the least interaction as they are the top most unit of any organisation.
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According to the myers-briggs type indicator (mbti), which type of people want control and prefer order and structure?
Myers Briggs type indicator (mbti) states that people who are judgment types seek order and structure and demand control.
An assessment tool used to determine a person's personality type, strengths, and preferences is the Myers-Briggs Personality Type Indicator. Isabel Myers and her mother Katherine Briggs created the quiz based on their research into Carl Jung's idea of personality types. One of the most frequently used psychological tools in the world today is the MBTI inventory.
The creation of the Myers-Briggs types, the 16 separate MBTI types, and the methodology behind this personality typing system are all covered in this article.
Jung's psychological type theory captivated Myers and Briggs, who also realized that the idea might be useful in the actual world. In the course of World War II, they started investigating and creating an indicator that might be used to understand individual variances.
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When a company collects cash from an account receivable, cash ______. multiple choice question.
When a company collects cash from an account receivable, cash increases and total assets are not affected.
What happens when cash is collected from an accounts receivable?An accounts receivable is considered to be an asset to a company because it represents that people owe the company a certain amount of money. The company therefore has an ownership claim against the assets of the accounts receivable.
Cash is another asset of a company and it will increase when cash is collected from an accounts receivable. You therefore have a situation where accounts receivable decreased and cash increased. This means that assets increased and decreased by the same amount so the total amount of assets is not affected.
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Suppose the demand curve shifts to the right and the supply curve shifts to the right by more than the demand curve. the new demand curve will be and the new supply curve will be?
Suppose the demand curve shifts to the right and the supply curve shifts to the right by more than the demand curve. The new demand curve will be high and the new supply curve will be high.
What happens to the demand curve when the supply curve shifts to the right?The thing that happens to the demand curve when the supply curve shifts to the right is that based on the fact that the supply curve is generally said to be upward sloping, a shift of the demand curve will be said to be either upward or to the right will lead to both a higher equilibrium price as well as equilibrium quantity.
Note that all of the curve can shift to the right as well as to the left. A rightward shift is one that connote an increase in demand or supply. The implication of the above is that there is a higher quantity that is is demanded, or supplied, at all of the market price.
Therefore, Suppose the demand curve shifts to the right and the supply curve shifts to the right by more than the demand curve. The new demand curve will be high and the new supply curve will be high.
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Starlight co. makes and sells only one product. the unit contribution margin is $8 and the break-even point in unit sales is 30,000. the company's fixed costs are?
Starlight co. makes and sells only one product. the unit contribution margin is $8 and the break-even point in unit sales is 30,000. the company's fixed costs are $2,40,000
Break even sales (unit) = Fixed cost/ contribution margin
30,000 = Fixed cost /$8
30,000* $8 = Fixed cost
$2,40,000 = Fixed cost
Fixed cost is the cost which remains fixed and do not vary with the level of production. for examples salaries, loan repayment, electricity bills.
Break even point is defined as the point where company's revenue is equal to its cost. If sales is above break even point, it's profit for the company.
Contribution margin is defined as sales less variable cost.
Variable cost are the cost which vary with the level of production and often fluctuates.
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What operation management tools were used extensively in managing hard rock's rockfest?
MS Project operation management tools were used extensively in managing hard rock's rockfest
This is further explained below.
What is MS Project?Generally, The software for managing projects known as Microsoft Project is created and distributed by the software giant Microsoft.
It is intended to provide assistance to project managers in the processes of defining a schedule, allocating resources to tasks, monitoring progress, controlling the budget, and assessing workloads.
In conclusion, The administration of the hard rock festival made heavy use of the operation management tools provided by MS Project.
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Children raised in what country would be more apt to express themselves through personal writings, choices, and purchases?
Children raised in United States would be more apt to express themselves through personal writings, choices, and purchases.
What is personal writing?
A personal essay is a piece of writing that serves to describe an important life lesson learned by the writer. The essay frequently describes a significant event in the first person and can be written in a variety of styles, such as a formal essay or as creative nonfiction. Personal essays are typically written in a conversational tone to connect with the reader. This type of essay can be motivating and encouraging, or it can serve as a warning to others to avoid the author's mistakes.
Personal essay topics can cover a wide range of topics. They could be about the first time you failed a test in high school, an estranged family member, a moral turning point in adolescence, a war experience abroad, or a personal tragedy.
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what must an entrepreneur do after creating a business plan?open the businessfinance the businessfile the right paperworkidentify an opportunity
After setting up a business plan, an entrepreneur must finance the business.
What is entrepreneur ?An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. Entrepreneurship is the practice of starting a business. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods.
Entrepreneurs are essential to the health of any economy because they have the knowledge and drive to foresee requirements and sell viable new ideas. Entrepreneurship that succeeds in assuming the risks involved in founding a firm is rewarded with money, notoriety, and chances for future growth. Failure in entrepreneurship leads in losses and diminished market presence for individuals engaged.
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which of the following is not one of the five major strategic options for entering the international marketplace
which is not one of the five main strategic options for entering the international marketplace is capital investment.
Investment is all forms of investment activities, both by domestic investors and foreign investors to conduct business.
All companies need assets to produce goods and services to generate profits. It is these assets that represent the business's capital investment and are distinct from the materials, inputs, and labor required to maintain day-to-day operations.
For example, a manufacturing company initially owns land, buildings and machinery as capital investments. Over the years, the company is likely to make additional capital investments by purchasing other machines to expand its production capacity. There are capital-intensive industries whose economic activities require larger than normal amounts of capital expenditure to function.
In contrast, other business activities operate with lower capital investment. For example, a consulting firm has capital investments primarily in the form of office buildings and computer equipment. Also, capital investment is assumed to enable one or more of the following objectives: to provide initial or additional production capacity, to increase efficiency or to replace an asset at the end of its useful life.
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The journal entry for adjustment of overallocated manufacturing overhead includes a ________.
The journal entry for adjustment of overallocated manufacturing overhead includes a credit to cost of products sold.
In order to document a business transaction in the accounting records of the company, a journal entry is employed. A journal entry is often made in the general ledger, but it can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. After then, the general ledger is utilized to produce the company's financial statements. Every company transaction should be recorded at least twice, or in double entry accounting, according to the logic behind a journal entry.
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justin made an offer to pay $100,000 to first person who could successfully walk a tightrope across niagra falls. acceptance of justin's offer occurs when:
The acceptance of Justin's offer occurs when the person is the first to walk across Niagra Falls on a tightrope after Justin's offer.
Offer: "A proposal or offer is made when one person indicates to another person his willingness to do or not do something (abstain) in order to obtain the assent of such person to such an act or abstinence."
The entire contracting process begins with a proposal or offer made by one party to another. To enter into an agreement, the proposal must be accepted.
Acceptance: "The offer is said to be accepted when the person to whom the proposal is made expresses his approval. As a result, when the proposal is accepted, it becomes a promise." Before an offer is accepted, it can be revoked.
For example: A makes an oral offer to B to buy his house for 50 lakhs. B accepts the offer via email and sends it to A. This is a formal acceptance. An implied acceptance occurs when the acceptance is conveyed through the offeree's conduct/behavior/any other mannerism.
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Omega construction manufactures homes to customer specifications. it most likely uses:_____.
Omega construction manufactures homes to customer specifications. it most likely uses: Job order costing.
What is Job order costing?
Job order costing can be defined as a method that is used to manufacture or produce customers specification items or product consumer specifically want a company to produce for them.
Companies ten to make use of Job order costing when producing different product that are different from one another.
Therefore Omega construction manufactures homes to customer specifications. it most likely uses: Job order costing.
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The ________ bond amortization method allocates an equal portion of the total bond interest expense to each interest period. multiple choice question. straight-line effective interest equal allocation
'The straight-line bond amortization method allocates an equal portion of the total bond interest expense to each interest period.
In economics, amortization refers to spreading payments over multiple periods. The term is used by him for two separate processes: loan write-off and asset write-off. In the latter case, it refers to allocating the cost of the intangible over time.
Amortization is an accounting policy used to reduce the carrying amount of a loan or intangible asset periodically over a specified period. For loans, amortization focuses on the distribution of loan payments over time. Depreciation is similar to depreciation when applied to assets.
Amortization is the repayment of a debt in equal installments. Part of each payment goes towards the loan amount and part towards the interest. As the loan is amortized, the principal starts small and increases each month.
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in coastal fishing company’s suit against dockside marina, inc., the jury returns a verdict in coastal’s favor. dockside files a motion stating that even if the evidence is viewed in the light most favorable to coastal, a reasonable jury should not have found in its favor. this is a motion for
Dockside files a motion stating that even if the evidence is viewed in the light most favorable to coastal, a reasonable jury should not have found in its favor. this is a motion for judgment-no-verdict motion(JNOV)
This is a judgment-no-verdict motion(JNOV).
A judgement despite the verdict (JNOV) is one in which the trial judge rules against the jury's decision after it has been reached and grants the losing party a judgement without ordering a new trial.
If the judge believes that the jury misapplied the law in reaching its decision or that no reasonable jury could have reached the jury's verdict based on the facts offered at trial, the judge will issue a JNOV.
A request for the court to grant judgement despite the verdict. This motion makes the claim that no impartial jury could have rendered the decision the jury in this case recently did.
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Which individual actor led liberian women in non-violent protests against the violence in liberia, winning the nobel peace prize?
Leymah Gbowee was awarded the Nobel Peace for her non-violent actions to foster peace and her effort for women's rights. In 1990 civil war busted out in Liberia.
What is Leymah Gbowee famous for?She is President of the Gbowee Peace Foundation Africa, founded in Monrovia. Leymah is best understood for leading a nonviolent campaign that obtained together Christian and Muslim females to play a pivotal role in completing Liberia's devastating, fourteen-year civil war in 2003.
What is Leymah Gbowee doing now?Resuming her work to empower women and enlighten young people, Leymah Gbowee acts as president of Gbowee Peace Foundation Africa, based in Monrovia, which delivers educational and leadership options to girls, women, and youth.
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In general, in order for a price increase to cause a decrease in total revenue, demand must be?
For a price increase to result in a decrease in total revenue, the demand must normally be ELASTIC.
Normally, ELASTIC DEMAND is required for a price rise to result in a drop in overall revenue. The entire revenue and price move in the same direction when demand is inelastic. Customers are less sensitive to price swings because of inelastic demand, which is what causes this to occur.
In general, demand must be ELASTIC for a price rise to result in a drop in overall revenue.
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as we move up the organization's hierarchy from clerical workers to executives, how does the type of support provided by information systems change?
A decision-making one of support does an organization's information system hierarchy provide as we rise through the ranks.
What is Organization's hierarchy?
In practically every firm, a hierarchy delineating job responsibilities and power exists. Project success, productivity, and communication can all be impacted by an organization's hierarchical structure. Studying organisational hierarchies will help you comprehend your organization's structure and, if necessary, come up with proposals for structural changes. We describe organisational hierarchy, describe typical organisational hierarchy participants, explore the importance of hierarchies, and discuss common types of hierarchical systems in this article. Organizational structure is classified into three types: functional structure, divisional structure, and a hybrid of the two known as matrix structure.
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knowledge check 01 willette company reported the following information at december 31, year 1: accounts payable $ 4,500 accounts receivable 9,350 cash 23,490 common stock 90,000 equipment 49,500 inventory 31,200 notes payable due december 31, year 3 2,500 retained earnings, december 31, year 1 14,090 salaries and wages payable 2,450 what is the amount of current assets on the classified balance sheet?
Willette company reported the following information at December 31, year 1 Then $64,040 is the amount of current assets on the classified balance sheet.
What is a Balance sheet?
A balance sheet is an financial statement that lists a business profits, liabilities, and equity of the company as of a certain date. For calculating investor return rates and assessing a company's capital structure, balance sheets serve as the foundation. The balance sheet, or statement of financial position, is a summary of the assets and liabilities of a corporation as well as amounts of shareholder investment. When doing basic analysis or calculating financial ratios, balance sheet can be utilized in conjunction with other crucial financial data.
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