Bridgeport Corporation purchases a patent from Ivanhoe Company on January 1, 2020, for $74,000. The patent has a remaining legal life of 16 years. Bridgeport feels the patent will be useful for 10 years. Prepare Bridgeport's joumal entries to record the purchase of the patent and 2020 amortization. (Credit account titles are outomatically Indented when amount is entered, Do not Indent monually. If no entry is required, select "No Entry" for the account tities and enter o for the omounts)
Answers
Bridgeport Corporation purchases a patent from Ivanhoe Company on January 1, 2020, for $74,000. The patent has a remaining legal life of 16 years. Bridgeport feels the patent will be useful for 10 years. Given that Bridgeport Corporation purchases a patent from Ivanhoe Company on January 1, 2020, for $74,000 and feels the patent will be useful for 10 years. To calculate the amortization of the patent, straight-line depreciation method is used.
Straight-line depreciation method:
Straight-line depreciation method helps in the calculation of the amortization of an asset that costs more than $200 and has a useful life of more than one year. The formula for calculating the annual depreciation using the straight-line depreciation method is:
Annual depreciation = (Cost of asset - Residual value) / Useful life
In the given case, the annual amortization would be:
$4,625 = ($74,000 - 0) / 16 years
Therefore, the journal entry for the purchase of the patent and 2020 amortization is as follows:
Date Account title/Description Debit Credit
January 1, 2020 Patent 74,000 Cash 74,000
(To record the purchase of patent)
December 31, 2020 Amortization expense 4,625 Patent 4,625
(To record the 2020 amortization)
Note: Patent is a non-current asset, so it is debited. Amortization expense is an operating expense, so it is debited.
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Related Questions
what is the portion of a market controlled by a particular company or product? Choose the answer.
a) market share
b) market goal
c) sales funnel
d) market budget
Answers
Answer:
a) market share
Explanation:
The market share refers to the portion of a market controlled by a particular company or product. It is calculated by dividing the company's sales within a specific market by the total sales within that market. Market share is important for companies because it can help them gauge their relative position in the market, understand their target audience, and make strategic decisions about future growth and development.
You plan on making payments on a new car too. You want to spend 15% of your monthly net pay on the car payment, insurance, registration, and taxes combined. What is your monthly car allowance? $149. 46 $298. 91 $448. 37 $597. 83.
Answers
Answer:
$448.37
i got it right
green metro inc recently completed a traffic modeling study of South Asian city at a cost of $10 million. One option is to invest in a dedicated bus corridor along the main artery of the city. It requires an initial investment of $260 million and would result in net cash flows of 20 million for the next 20 years. The company is also a supplier of sophisticated e-ticketing equipment to other transport companies which cost $20 million per dedicated bus corridor and is sold at $30 million. Design costs are $40 million. Civil works costs $150 million. Busses cost $40 million. What do you believe the incremental cash flows of the initial investment outlay should sum to?
Answers
Based on the information provided, let's break down the initial investment outlay for the dedicated bus corridor:
1. Initial investment: $260 million
2. Design costs: $40 million
3. Civil works costs: $150 million
4. Buses cost: $40 million
5. E-ticketing equipment cost: $20 million (since Green Metro Inc. is the supplier, they only account for the cost)
To calculate the incremental cash flows of the initial investment outlay for the dedicated bus corridor, we need to subtract the initial investment cost from the expected net cash flows generated over the project's life.
The relevant costs and revenues for the project are:
Initial investment cost: $260 million (bus corridor) + $20 million (e-ticketing equipment) + $40 million (design costs) + $150 million (civil works) + $40 million (buses) = $510 million
Expected net cash flows: $20 million per year for 20 years = $400 million
The incremental cash flows of the initial investment outlay are therefore:
$400 million - $510 million = -$110 million
This means that the initial investment outlay will result in a negative cash flow of $110 million.
However, it's important to note that this calculation does not take into account the time value of money, which could affect the project's overall profitability. Therefore, further analysis using techniques such as net present value (NPV) or internal rate of return (IRR) would be necessary to determine the project's financial viability.
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The public power company is an example of which market structure?
A. Perfect competition
B. Monopolistic competition
C. Oligopoly
D. Monopoly
Answers
Answer:
D. Monopoly
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. Thus, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
Hence, the public power company is an example of a monopoly because they serve as the only power utility provider to the public.
Additionally, a public power company refers to a company that provides power (electricity) utility to the general public of a society.
4) When do credit cards charge interest? Do you pay interest on everything you buy
on a credit card?
Answers
Answer:
If you dont pay your balance , Yes you have to pay interest on everything you buy on your card because that is money from the bank so you have to pay your balance for them to get there money back.
Explanation:
How will taxation influence the circular flow model
Answers
Answer:
TMS
Explanation:
Taxes (T) imposed by the government reduced the flow of income.
Money paid to foreign companies for imports (M) also constitutes a leakage.
Savings (S) by businesses that would have been put to use are a decrease in the circular flow of an economy's income.
The gap between productivity and real hourly compensation was the highest during which of the following periods?a. 1947 - 1973b. 1979 - 1990c. 1990 - 2000d. 2000 - 2011
Answers
The gap between productivity and real hourly compensation was the highest during 2000 - 2011, option D.
In economics, productivity is the ratio of output to input, such as labor, capital, or any other resource. For the economy, it is frequently calculated as a ratio of GDP to hours worked. It is possible to examine trends in labor growth, wage levels, and technological advancement by further segmenting labor productivity by industry. Productivity growth is directly related to shareholder returns and corporate profits.
At the corporate level, efficiency is a proportion of the effectiveness of an organization's creation interaction, it is determined by estimating the quantity of units delivered comparative with worker work hours or by estimating an organization's net deals comparative with representative work hours.
The Bureau of Labor Statistics' labor productivity index is the productivity measure that is reported the most frequently. The GDP to total hours worked in the economy ratio serves as the foundation for this. Work efficiency development comes from expansions in how much capital accessible to every specialist (capital extending), the schooling and experience of the labor force (work sythesis), and enhancements in innovation (multifaceted efficiency development).
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Complete question:
The gap between productivity and real hourly compensation was the highest during which of the following periods?
a. 1947 - 1973
b. 1979 - 1990
c. 1990 - 2000
d. 2000 - 2011
What is the hazard? Chris works for a city public works department. One hot afternoon the temperature outside reached 92 degrees. While Chris was shoveling dirt in a vacant lot, he started to feel dizzy and disoriented. He fainted due to the heat.
Answers
Answer: dehydration
Explanation:
Answer:
dehydration and heat exhaustion.
Explanation:
I hope this helps! :)
Find the simple interest paid.
9. Principal: $350
Annual rate: 4%
Time: 3 years
Interest
Answers
Answer:
$392
Explanation:
Using the simple interest formula....
A=P(1+rt)
A=350(1+(0.04)(3))
A=350(1+(0.12)
A=350(1.12)
A=350x1.12
A=392
Which best describes a mixture?
ООО
It has a single composition, and it has a set of characteristics that does not change.
It can have different compositions, but it has a set of characteristics that does not change.
It has a single composition, but it has a set of characteristics that does change.
It can have different compositions, and it has a set of characteristics that does change.
Answers
Answer: it can have different compositions, and it has a set of characteristics that does change.
Explanation:
A mixture is form when other substances are being mixed together. In such scenario, it has different composition and it characteristics are been altered.
Therefore, the option that best describes a mixture is option D "It can have different compositions, and it has a set of characteristics that does change"
Answer:
D.
Explanation:
why can't food be used as a form of money?
Answers
Typically, food is perishable. People will refuse to take perishable food as payment for services if they already have plenty to eat.
Why food Cannot be used as a form of money?Even in the event of a complete economic collapse, it is more likely that people will start exchanging food for gold, silver, copper, or diamonds.
Since they already have all they need for eating, those who have access to abundance of food won't accept perishable food as payment for services.
Thus, Typically, food is perishable
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The ledger of Cheyenne Corp. On March 31, 2019, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance 2,700 Supplies 3,000 Equipment 32,200 Unearned Service Revenue 8,900 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $400 per month. 2. Supplies on hand total $1,200. 3. The equipment depreciates $400 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. )
Answers
Prepaid expenses are able to be categorized as a current asset because the business has already paid them even though it hasn't yet received the goods and services. By creating adjusting entries, prepaid costs are recognized.
Sr. No Particulars Debit Credit
1) Insurance Expense $400
Prepaid Insurance $400
2) Supplies Expense $1800
Supplies $1800
3) Deprecation Expense $400
Accumulated Deprecation Equipment $400
4) Unearned Service Revenue $3560
Service Revenue $3560
Calculation for Supplies expense is Supplies ($3000) minus Supplies on hand ($1200) and calculation for Unearned service revenue is Multiply Unearned service revenue ($8900) by two fifth (0.4). Entries of the month of March will be ready.
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One major reason businesses seek investment is to:
A. increase the opportunity cost of making new products.
B. boost their productivity by improving their inputs.
C. give them the ability to ignore production possibilities curves.
D. reduce their need for consistent financial growth.
Answers
One major reason businesses seek investment is to boost their productivity by improving their inputs. Option B is correct.
What is Investment?A purchase made with the intention of creating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person invests in a good, they do not intend to utilize it as a source of immediate consumption, but rather as a tool for future wealth creation.
An investment always involves the expenditure of some resource today time, effort, money, or an asset—in the anticipation of a future return greater than the initial investment.
For instance, an investor might buy a financial asset right away with the hope that it would provide income later on or that it can be sold for a profit at a higher price.
Thus businesses seek investment is to boost their productivity by improving their inputs in order to maximize wealth of owners of the business.
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Assuming an Oil and Gas company undertaking a project wish to gain a better understanding of their reservoirs to improve recovery by investing in reservoir simulation and modeling study. Assuming history matching proves successful, what reserve classification will be most appropriate under the PRMS. What reserve classification and range of uncertainty should development plans be made?
Answers
Assuming history matching proves successful, the most appropriate reserve classification under the PRMS would be proved reserves.
If an oil and gas company undertaking a project wishes to gain a better understanding of their reservoirs to improve recovery by investing in reservoir simulation and modeling study and assuming history matching proves successful. The range of uncertainty for development plans should be no more significant than the certainty level established by geoscience and engineering data that supports proved reserves.
Moreover, to be recognized as a proved reserve, the entity must have three criteria that include being technologically feasible, economically viable, and legally permitted. It means that it can be produced, marketed, and sold at current prices in a given market while also complying with environmental and regulatory requirements.
The reserve classification under the PRMS that is most appropriate and the range of uncertainty for development plans should be no more significant than the certainty level established by geoscience and engineering data that supports proved reserves.
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You just started your first full-time job, and one of the benefits is a retirement savings plan. Someone in the human resources department is going over your benefits and says that you have make choices about how the retirement savings plan is invested. She gives you some papers to read and asks you to stop by and let her know your choices when you come to work tomorrow. What must you consider as you read the information and make your choices? Answer in complete sentences.
Answers
I need to be aware that investment options and the market conditions can change over time, and I should regularly review and adjust my investment choices as to ensure I am on the track to meet my retirement goals.
What is retirement?Retirement is a phase in a person's life when they choose to stop working or reduce their work hours. It is a time when people typically have reached a certain age, have accumulated enough savings or investments, and are ready to leave the workforce. Retirement can be a voluntary decision or forced due to health issues or other reasons. During retirement, individuals can pursue hobbies, travel, spend time with family and friends, and engage in leisure activities they did not have time for while working. Retirement also involves careful financial planning to ensure that one's income will be sufficient to support their lifestyle and cover expenses, such as healthcare and housing. Many people also choose to seek advice from financial planners and other professionals to help them navigate this phase of life.
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One area of law that is particularly relevant to public relations writers centers around ________. A) licensing B) professional accreditation C) copyright D) rules for timely disclosure
Answers
copyright
What is copyright?
Original works of authorship are protected by copyright, a type of intellectual property, as soon as the author fixes the work in a tangible form of expression. Paintings, pictures, graphics, musical compositions, sound recordings, computer programs, books, poetry, blog posts, movies, architectural works, plays, and a lot more are all considered works in the context of copyright law. When a human author alone creates a work and exhibits a minimal level of inventiveness, the work is considered original. Simply put, independent creation refers to original, unaltered invention. According to the Supreme Court, a work needs to have a "spark" and "modicum" of creativity in order to be considered creative.
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the law of supply states that____of a product will be offered at a high place and____of a product will be offered at a low price
Answers
Answer:
as the price of an item goes up, suppliers will attempt to maximize their profits by increasing the quantity offered for sale.
Explanation:
_____ include tools and equipment used to produce goods and services.
a. Capital resources
b. Consumer resources
c. Human resources
d. Natural resources
Answers
Answer:
The correct answer is B!
Explanation:
Consumer resources, include tools and equipment used to produce goods and services. Thus, option (b) is correct.
What is goods?
The term goods as the another name was the commodities. The goods are the sold to the exchange of the money. The goods are the produced with the help of raw material. The goods are the based on the two prices, such as the manufacturing prices and retail prices. The goods are the two types are the raw goods and the finished goods.
According to the manufactured goods and services as the companies are the manufacturing to the based on the consumer resources. The foundation is built on economic development. Factors of production are the resources used to create all commodities and services.
As a result, the consumer resources, include tools and equipment used to produce goods and services.
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Which of the following statements describes an economy confronting scarcity?
A If more of one good is produced, less of another good must be produced.
An economy can produce a limitless amount of all goods
All individuals are able to satisfy their consumption desires
D Scarcity is eliminated by government provision of goods. E Scarcity only exists as a problem when there is more than one good to produce
Answers
solution:
An economy dealing with scarcity is characterized by the elimination of scarcity through government-provided products.
One of life's most fundamental truths—that we live in a world with finite resources that necessitates decisions about how they are distributed—is the basis for the economic concept of scarcity. In that sense, anything from a pack of gum to a book of matches is limited since it required the use of resources that could have been used elsewhere.
Some natural resources that could first seem free because they are so accessible and convenient turn out to be expensive due to abuse in a tragedy of the commons. Due to the high cost of safeguarding them, economists increasingly see clean air and a climate that is conducive to human flourishing as scarce goods and may assign a price to them.
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Producers need to understand the target audiences of their pictures, the earnings dynamics of each picture, and its full array of ancillary products. Producer's Business Handbook, Ch 5 A) True B) False
Answers
A) True. Producers need to understand the target audiences of their pictures, the earnings dynamics of each picture, and its full array of ancillary products. Producer's Business Handbook, Ch 5 are true
understanding the target audiences, earnings dynamics, and ancillary products of their pictures is crucial for producers. it helps them make informed decisions regarding the production, distribution, and marketing strategies of their films. by comprehending the preferences and demographics of the target audience, producers can tailor their content and promotional activities to maximize profitability. additionally, understanding the potential revenue streams from ancillary products such as merchandise, licensing, and digital distribution allows producers to optimize their overall business strategy.
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Which of the following marketing fundamentals applies solely to the hospitality and tourism industry? A.interdependence of organizations B.sequential steps in marketing C.key role of marketing research D.continuous nature of marketing
Answers
Answer:
key role of marketing research
Answer:
interdependence of organizations
Explanation:
Edge 2021 :)
Which of the following examples is an instance of co-marketing?
a. Bonne Belle's Dr. Pepper flavored lipgloss
b. Ford Explorer's Eddie Bauer edition
c. a summer promotion with Heinz catsup and Ballpark franks
d. Taco Bell's Dorito Loco taco
Answers
The example of comarketing would be: a summer promotion with Heinz catsup and Ballpark franks. Option C.
What is meant by comarketing?Co-marketing is a type of marketing approach where brands or businesses collaborate to increase their reach. Usually, the businesses who collaborate with one another have some things in common, such being in the same industry or serving similar clientele.
Partnerships in content marketing entail producing or supplying content for the other brand involved. For instance, if two well-known bloggers decide to collaborate on marketing, they might each contribute a few guest posts to the other's blogs.
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The main reason that Starbucks was able to have the main share of coffeehouses in the world is just two decades is that they: used tangible resources to provide their product. capitalized on the economic climate at the most opportune time. were the only coffeehouse to offer premium coffee during extended hours. successfully applied their knowledge and skills to better serve customers.
Answers
Answer:
Were the only coffeehouse to offer premium coffee during extended hours.
Explanation:
Starbucks has a significant share in global markets, it has developed it in not so long time.
Reason behind it might be that - Its premium coffee beans & consequently coffee quality. This complimented with fair range of coffee varieties, relaxing & comfortable ambience, specially during extended hours - helped it attain the status.
Companies invest in expansion projects with the expectation of increasing the earnings of its business. Consider the case of McFannCo. : McFann Co. Is considering an investment that will have the following sales, variable costs, and fixed operating costs:
YEAR 1 YEAR 2 YEAR 3 YEAR 4
Unit Sales $3,500 $4,000 $4,200 $4,250
Sales Price $38. 50 $39. 88 $40. 15 $41. 55
Variable Cost Per Unit $22. 34 $22. 85 $23. 67 $23. 87
Fixed Operating Cost (except depreciation) $37,000 $37,500 $38,120 $39,560
Accelerated Depreciation Rate 33% 45% 15% 7%
This project will require an investment of $10,000 in new equipment. The equipment will have no salvage value at the end of the project's four-year life. McFann pays a constant tax rate of 40% and it has a weighted average of cost of capital (WACC) of 11%.
1. What would the project's net present value (NPV) using accelerated depreciation?
2. What would the project's net present value (NPV) using straight-line depreciation?
3. No other firm would take on this project if McFann turns it down. How much should McFann reduce the NPV of this project if it discovered that this project would reduce one of its division's net after-tax cash flows by $300 for each year of the four-year project?
4. McFann spent $2,500 on a marketing study to estimate the number of units that it can sell each year. What should McFann to do take this information into acount:
a. Nothing, because the cost of the marketing study is a "sunk" cost.
b. Increase the amount of the initial investment by $2,500.
c. Increase the NPV of the project by $2,500
Answers
For all the parts the net present value (NPV) using accelerated depreciation, we need to calculate the annual cash flows first. We can use the following formula to calculate the annual cash flows:
Annual Cash Flows = (Unit Sales × Sales Price - Variable Cost Per Unit × Unit Sales - Fixed Operating Costs) × (1 - Tax Rate) + Depreciation
In the first year, the annual cash flow would be:
Annual Cash Flow (Year 1) = (3,500 × 38.50 - 22.34 × 3,500 - 37,000) × (1 - 0.40) + 10,000 × 0.33 = $11,010.00
In the second year, the annual cash flow would be:
Annual Cash Flow (Year 2) = (4,000 × 39.88 - 22.85 × 4,000 - 37,500) × (1 - 0.40) + 10,000 × 0.45 = $14,355.00
In the third year, the annual cash flow would be:
Annual Cash Flow (Year 3) = (4,200 × 40.15 - 23.67 × 4,200 - 38,120) × (1 - 0.40) + 10,000 × 0.15 = $12,261.00
In the fourth year, the annual cash flow would be:
Annual Cash Flow (Year 4) = (4,250 × 41.55 - 23.87 × 4,250 - 39,560) × (1 - 0.40) + 10,000 × 0.07 = $11,934.50
NPV = -Initial Investment + ∑(Annual Cash Flow / (1 + WACC)Year)
Where ∑(Annual Cash Flow / (1 + WACC)^Year) is the sum of the discounted annual cash flows over the project's life.
NPV :\(-$10,000 + ($11,010 / (1 + 0.11)^1) + ($14,355 / (1 + 0.11)^2) + ($12,261 / (1 + 0.11)^3) + ($11,934.50 / (1 + 0.11)^4) = $5,149.05\)
Therefore, the project's NPV using accelerated depreciation is $5,149.05.
Annual Depreciation = $10,000 / 4 = $2,500
In the first year, the annual cash flow would be:
Annual Cash Flow (Year 1) = (3,500 × 38.50 - 22.34 × 3,500 - 37,000) × (1 - 0.40) + $2,500 = $11,510.00
In the second year, the annual cash flow would be:
Annual Cash Flow (Year 2) = (4,000 × 39.88 - 22.85 × 4,000 - 37,500) × (1 - 0.40) + $2,
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Jenson is a senior-level manager in his organization. He makes strategic-level decisions to improve the sales or to increase the profits of the organization. Which information system will reflect the strategic decisions that Jenson makes as a senior manager? A. Executive information system B. Management information system C. Transaction processing system D. Decision support system
Answers
Answer: Management information system
Explanation:
The information system that reflect the strategic decisions that Jenson makes as a senior manager is the management information system.
Management Information System is simply referred to an information system that is used to make decisions and also used for analysing and coordinating information in the organization. It studies the relationship and interaction that exist between the people and the organization.
Answer:
decision support system
Explanation: PLATOOOOOOOOOOOOO
in general, the maximum ratio the lender would to see on a PITI to Monthly Gross Income is?A)25%B)28%C)30%D)33%
Answers
The maximum ratio the lender would like to see on a PITI to Monthly Gross Income is typically around 28%.
What is Monthly Gross Income?
Monthly Gross Income is the total amount of income earned by an individual or household before any deductions or taxes are taken out. It is an important factor in determining an individual's or household's financial position and eligibility for various financial services, such as loans and credit cards.
In general, the maximum ratio the lender would like to see on a PITI to Monthly Gross Income is 28%. This means that the lender typically prefers that your total housing expenses, including principal, interest, taxes, and insurance, should not exceed 28% of your monthly gross income. This helps ensure that you can afford the monthly mortgage payments and reduces the risk of default.
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What is a broker?
Career Prep Edge
Answers
Answer:
A broker refers to an individual who is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Explanation:
A broker refers to an individual or business firm that is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Generally, a broker acts as an intermediary between a buyer (investor) and a seller (securities exchange) for a commission or an agreed upon fee after executing the deal. Thus, a broker also referred to as a stockbroker acts as a principal party in the buying or selling of stocks or securities in the financial markets.
Additionally, the actions or activities of a broker in the financial market is regulated by regulatory (financial) institutions such as the securities and exchange commission (SEC).
Answer:
A broker refers to an individual who is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Explanation:
A broker refers to an individual or business firm that is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Generally, a broker acts as an intermediary between a buyer (investor) and a seller (securities exchange) for a commission or an agreed upon fee after executing the deal. Thus, a broker also referred to as a stockbroker acts as a principal party in the buying or selling of stocks or securities in the financial markets.
Additionally, the actions or activities of a broker in the financial market is regulated by regulatory (financial) institutions such as the securities and exchange commission (SEC).
Explanation:
Dante is making his first purchase using a credit. He asks his friend Tay to educate him about using credit. What is the BEST advice Tay can give him?
Answers
The BEST advice Tay can give him about his first purchase is A. Be prepared to pay back the original amount and additional interest.
What is a Business Advice?This refers to the financial advice that is given to a person when he is about to embark on a business to guide him not to make wrong choices.
Hence, we can see that based on the fact that Dante wants to use credit to make his first purchase, it is important that he knows that he would repay the amount, plus an additional amount, known as interest.
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Claire opened her own Starbucks franchise in her community. She is pleased with how quickly she was able to open her franchise and that she
was able to establish a good customer base from the start because of name recognition. However, since she started this business to be her
own boss, Claire is likely to
A. Invest in his own capital and national and local advertising programs
B. Take sole responsibility for all the decisions in the business
C. Embrace the franchisors restrictions because they lead to a greater chance for success
D. Resent the management training and support the franchiser provides
E. Get frustrated with the restrictions of the franchise
Answers
Claire is likely to Embrace the franchisors restrictions because they lead to a greater chance for success option(c) is correct.
Who was Claire?Claire was a person who gradually opened her Starbucks actually in her community she established a good customer base merely of her name in that organization.
As she is her own boss she accordingly embraces the franchisors restrictions which actually lead for more and more success of her.
Therefore Option(c) is correct.
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according to goal-setting theory, managers should assign challenging goals to motivate employees.
Answers
According to goal-setting theory, managers should assign challenging goals to motivate employees.
This theory suggests that setting specific and challenging goals for employees can lead to increased motivation, engagement, and performance.
When goals are clear and challenging, employees are more likely to feel a sense of purpose and direction in their work, and they are more likely to be committed to achieving those goals.
However, it's important to note that simply assigning challenging goals is not enough.
To effectively motivate employees, managers need to ensure that these goals are achievable, relevant to the employee's job and skill set, and provide feedback and support throughout the process.
Without these elements, employees may feel overwhelmed, demotivated, or discouraged by goals that are too challenging or unattainable.
In addition, managers should also consider the individual needs and preferences of their employees when setting goals.
While some employees may thrive on high-pressure, challenging goals, others may feel more motivated by goals that are more attainable or aligned with their personal values and interests.
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