Based on the information given the amount of net income that Chung would report on the Year 1 income statement is $2,900.
Net Income:Using this formula
Net income=Cash Revenue-Salary Expense
Where:
Cash Revenue=$7,000
Salary Expense=$4,100
Let plug in the formula
Net income=$7,000-$4,100
Net income=$2,900
Inconclusion the amount of net income that Chung would report on the Year 1 income statement is $2,900.
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A stadium is considering an offer from Mass Insurance to change the name to Mass Stadium. The company is offering to pay $1,000,000 per year. If the stadium already receives $250,000 from music promotions and accepts this offer, how much will it receive in sponsorship rights each year in total?
Answer:
b) 1,250,000
Explanation:
1,000,000+ 250,000 = 1,250,000
According to the company data, it will receive in sponsorship rights each year in total is $ 1,250,000.
What do you mean by the sponsorship?The act of monetarily or by the giving of goods or services supporting an occasion, activity, person, or organization is known as sponsoring something (or someone). The sponsor is the person or entity that offers the support; it functions similarly to a benefactor.
An organization sponsors an event when it offers financial support in exchange for marketing benefits. Sponsorships may involve a financial payment in exchange for property or a barter transaction including goods or services.
A brand or affiliation with a firm is promoted in exchange for corporate financial assistance from an organization, person, or activity, which is known as sponsorship. Of sure, sponsorship can raise your brand's value.
Here,
Company pay = $ 1,000,000
Advance amount = $ 250,000
Total sponsorship = $ 1,000,000 + $ 250,000 = $ 1,250,000
Therefore, according to the company data, it will receive in sponsorship rights each year in total is $ 1,250,000.
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What is the main reason that people purchase insurance policies?
A. they want to reduce the cost of their student or personal loans.
B. They want to avoid paying for major unexpected expenses.
C. They want to avoid increasing their monthly premiums
D. They want to invest money in insurance to grow it over time
Option B is correct. The main reason that people purchase insurance policies is because they want to avoid paying for major unexpected expenses.
What is an insurance policies?An insurance policy can be defined a contract between the insurer and the policyholder which determines the claims which the insurer is legally required to pay. The policy is enforced in an exchange for an initial payment known as the premium in which the insurer promises to pay for loss caused by perils covered under the policy language.
Most of the insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Because these insurance policies are standard forms, they often feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Some examples of the popular insurance policies includes a Life Insurance, Health Insurance, Disability Insurance, Homeowner's Insurance, Automobile Insurance, Liability Insurance etc,
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Little Rhody Manufacturing needs to purchase a new central air-conditioning system for a plant. There are two choices. The first system costs $70,000 and is expected to last 6 years, and the second system costs $102,000 and is expected to last 9 years. Assume that the opportunity cost of capital is 12 percent. Which air-conditioning system should you purchase
Answer:
The first option should be considered for purchase as its has a lesser EAC
Explanation:
Option 1 Option 2
Cost $70,000 $102,000
Opportunity cost 12% 12%
of capital
Useful Life 6 years 9 years
PVAF 4.114 5.3282
Equated Annual Cost $17,025.83 $19,143.43
Conclusion: The first option should be considered for purchase as its has a lesser EAC.
Working
PVAF (12%, 6 years) = 4.114
PVAF (12%, 9 years) = 5.3282
Equated annual cost = Cost / PVAF (r%, n years)
Consider a monopolist that produces for two periods. The demand curves in both periods are qe = 1-pt for t = 1,2. The marginal costs are c in the first and and c-lg" in the second period. Here, I is a small and positive number. There is a discount factor of 8 between the periods.
1. Explain briefly how the monopolist's problem changes compared to a situation where the marginal cost is c in both periods.
2. Find the quantities q' and g? that the monopolist chooses in the two periods. Hint: Start by solving the monopolist's problem in the second period and then continue to the first period.
3. Derive the restriction on that ensures that the profit function is strictly concave
Answer:
In a situation where the marginal cost is c in both periods, the monopolist's problem does not change between the two periods. This means that the monopolist will face the same demand curve and marginal cost in both periods, and will therefore make the same quantity and price decisions in both periods. In contrast, when the marginal cost changes between the two periods, the monopolist's problem will change. In this case, the monopolist will have to consider how their quantity and price decisions in one period will affect their profit in the next period, due to the discount factor and the changing marginal cost.
To find the quantities q' and g? that the monopolist chooses in the two periods, we first need to solve the monopolist's problem in the second period. In the second period, the monopolist's profit can be expressed as:
π = (1 - p2)(c - lg") - c
The monopolist will choose the quantity q2 and price p2 that maximize this profit. Taking the first-order conditions, we get:
1 - p2 - c + lg" = 0
p2 = 1 - c + lg"
Substituting this value of p2 into the demand curve, we get:
q2 = 1 - (1 - c + lg") * 2
q2 = 2c - lg"
Next, we need to solve the monopolist's problem in the first period. In the first period, the monopolist's profit can be expressed as:
π = (1 - p1) * (c - 8 * (c - lg")) - c
The monopolist will choose the quantity q1 and price p1 that maximize this profit. Taking the first-order conditions, we get:
1 - p1 - c + 8 * (c - lg") = 0
p1 = 1 - c + 8 * (c - lg")
Substituting this value of p1 into the demand curve, we get:
q1 = 1 - (1 - c + 8 * (c - lg")) * 1
q1 = 9c - 8 * lg"
Therefore, the quantities that the monopolist chooses in the two periods are q1 = 9c - 8 * lg" and q2 = 2c - lg".
To derive the restriction on that ensures that the profit function is strictly concave
Producing at the level where marginal revenue and marginal cost are equal, or when MR = MC, is the decision that will maximize profits for the monopoly. The firm can increase profits by increasing output if the monopoly produces fewer goods because MR > MC at those output levels.
What is the monopolist's change in marginal revenue?With each additional unit sold in a monopoly, marginal revenue decreases and eventually reaches or falls below average revenue because the price fluctuates as the quantity sold fluctuates.
The marginal cost curves that monopolies encounter are comparable to those that perfectly competitive businesses experience. Since most businesses can take advantage of efficiency opportunities as they start to grow, they will typically have low marginal costs at low levels of production. As output rises, marginal costs rise as well.
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Several companies in the EU were importing safety footwear from Argentina. Specifically, thousands of pairs of steel-toed boots were being imported for end use by workers in hazardous industries, such as mining, construction, and manufacturing. The EU became concerned that the steel inside the footwear was not of the agreed upon quality and so it called upon the ________ to monitor and enforce the trade agreement.
The EU countries will call upon the World trade Organization to monitor and enforce the trade agreement.
World Trade Organization (WTO) is the international body that regulates the international trade between and among the world nations.
The WTO enables nations producers, exporters, importers to conduct their business around the world.
The WTO helps in administering trade agreement between nations, handles trade disputes and monitors national trade policies.
Therefore, in this question context, the European Union will call on the World trade Organization to monitor and enforce the trade agreement between the EU countries and Argentina.
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The unadjusted trial balance of Sheridan Exposure Inc. had these balances for the following select accounts: Supplies $4,300, Unearned Service Revenue $9,250, and Prepaid Rent $1,920. At the end of the period, a count showed $960 of supplies on hand. Services of $4,100 had been performed related to the unearned revenue account, and one month’s worth of rent, worth $40, had been consumed by sheridan exposure. Record the required adjusting entries related to these events. (List all debit entries before credit entries. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No Entry is required for the Supplies, Unearned Service Revenue, and Prepaid Rent accounts since their balances have been adjusted through the adjusting entries above.
To record the required adjusting entries related to the events mentioned, we need to consider the changes in the account balances and adjust them accordingly. Here are the adjusting entries for Sheridan Exposure Inc.:
Supplies:
Debit: Supplies Expense ($4,300 - $960) = $3,340
Credit: Supplies ($4,300 - $960) = $3,340
Explanation: The supplies on hand decreased by $960, indicating that $960 worth of supplies were used during the period. Therefore, we need to recognize the expense by debiting Supplies Expense and reduce the Supplies account balance with a credit.
Unearned Service Revenue:
Debit: Unearned Service Revenue ($9,250 - $4,100) = $5,150
Credit: Service Revenue ($9,250 - $4,100) = $5,150
Explanation: Services worth $4,100 were performed, reducing the unearned service revenue. We need to recognize the revenue by debiting the Unearned Service Revenue account and crediting the Service Revenue account.
Prepaid Rent:
Debit: Rent Expense ($40)
Credit: Prepaid Rent ($40)
Explanation: One month's worth of rent, amounting to $40, has been consumed. We need to recognize the expense by debiting Rent Expense and reduce the Prepaid Rent account balance with a credit.
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You need to choose between making a public offering and arranging a private placement. In each case, the issue involves $10.5 million face value of 10-year debt. You have the following data for each: A public issue: The interest rate on the debt would be 8.75%, and the debt would be issued at face value. The underwriting spread would be 1.55%, and other expenses would be $85,000. A private placement: The interest rate on the private placement would be 9.5%, but the total issuing expenses would be only $35,000.
Required:
a. Calculate the net proceeds from public issue.
b. Calculate the net proceeds from private placement.
c. Calculate the PV of the extra interest on the private placement.
d. Other things being equal, which is the better deal?
a. The calculation of the net proceeds from the public issue is $10,252,250.
b. The calculation of the net proceeds from the private placement is $10,465,000.
c. c. The present value (PV) of the extra interest of $787,500 on the private placement is $755,966.89, calculated as follows using an online finance calculator:
N (# of periods) = 10 years
I/Y (Interest per year) = 0.75% (9.5% - 8.75%)
PMT (Periodic Payment) = $78,750 ($10.5 million x 0.75%)
FV (Future Value) = $0
Results:
PV = $755,966.89
Sum of all periodic payments = $787,500.00
d. All things being equal, the better deal appears to be the public issue of the debt.
How is a public issue different from a private placement?A public issuance of shares involves an initial public offering by placing the shares in the stock market so that investors can purchase shares. A private placement pre-selects the investors who will purchase the shares as the offering is not made public.
Data and Calculations:Public Issuance:
Face value of debt = $10.5 million
Maturity period = 10 years
Interest rate - 8.75%
Underwriting cost = $162,750 ($10.5 million x 1.55%)
Other expenses = $85,000
Total costs = $247,750
Net proceeds = $10,252,250 ($10.5 million - $247,750)
Private placement:
Face value = $10.5 million
Maturity period = 10 years
Interest rate = 9.5%
Total issuing expenses = $35,000
Net proceeds = $10,465,000 ($10.5 million - $35,000)
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true/false. a. an educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. the company compares how much adding another worker will improve the product to the additional cost.
Option b: Marginal decision. It refers to the effect of consuming and/or producing additional units of goods or services.
Marginal Utility – A change in total private utility that adds 1 unit.
Marginal cost – 1 additional unit change in total private cost
Rational consumers and producers are assumed to calculate the marginal costs and benefits of every decision. It asks behavioral economics questions and the use of marginal or arbitrary choice.
One of the basic principles of economics is the marginal principle.
According to this principle, rational decision-makers in the economy (individuals, households, firms, etc.) assume that the marginal cost of production (or the cost of consumption/production) is an additional unit of production utility).
Thus, the frontier principle helps agents determine how much of a good or service to consume/produce by continuously analyzing the costs and benefits of consuming/producing additional units.
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Complete question:
An educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. The company compares how much adding another worker will improve the product to the additional cost.
A.)opportunity cost
B.)marginal decisions
C.)resource scarcity
mm company predicts sales of 50,000 for may ,the company manger salary 4,900 plus 6% sales dollars the production manager found a way to reduce the amount of packaging the company uses may sales are predicted to increase by 8% in addition the shipping costs decrease from 4% to 3%
Answer:
1. $54,000
2. $9,760
Explanation:
1) Computation of budgeted sales
Budgeted sales = $50,000 + ( $50,000 × 8%)
Budgeted sales = $50,000 + $4,000
Budgeted sales = $54,000
Therefore the Budgeted sales will be $54,000
2). Calculation for the budgeted selling expenses for May using this formula
Budget selling expense for May= Manager salary + ( Commission on budget sales) + (Shipping cost on budget sales)
Let plug in the formula
Budget selling expense for May= $4,900 + ($54,000 × 6%) + ( $54,000 × 3%)
Budget selling expense for May= $4,900 + $3,240 + $1,620
Budget selling expense for May=$9,760
Therefore the Budget selling expense for May will be $9,760
he Lubricant is an expensive oil newsletter to which many oil giants subscribe, including Ken Brown (see Problem 3-17 for details). In the last issue, the letter described how the demand for oil products would be extremely high. Apparently, the American consumer will continue to use oil products even if the price of these products doubles. Indeed, one of the articles in the Lubricant states that the chance of a favorable market for oil products was 70%, while the chance of an unfavorable market was only 30%. Ken would like to use these probabilities in determining the best decision. What decision model should be used
Answer: Expected Monetary Value decision model
Explanation:
The Expected Monetary Value (EMV) model is a statistical method used to calculate future payoffs that accounts for the risk and probability of different events happening.
It essentially takes the average of the scenarios that could happen based on their probabilities and their expected payoff and then adds them together to give a value that the investor can base their expectations upon.
For instance, in the above question, assuming that Ken Brown in a favorable market, Ken Brown can sell $500,000 worth of oil products but in an unfavorable one, they can only sell $100,000.
Based on the probabilities of the market conditions, EMV would show a value of;
= (500,000 * 70%) + (100,000 * 30%)
= $380,000
why is it important to look at external sources of information when exploring product and service information
2. A marketing manager wants to assign four regions to four different salesmen. The salesmen differ in their efficiency and territories also differ in potentiality. An estimated sale (in Ks, 000s) by different sales men in the four territories are given below.
Territory
Salesman
X Y Z W
A 16 13 17 23
B 7 12 37 18
C 10 25 14 9
D 25 27 18 25
Determine an optimal assignment schedule for maximum sales.
The determination of the optimal assignment schedule for maximum sales is as follows:
Optimal Assignment ScheduleTerritory Salesman Maximum
X Y Z W Sales
A 23 23
B 37 37
C 27 27
D 25 25
Max Sales Achieved 25 27 37 23 112
What is an optimal assignment schedule?An optimal assignment schedule is the assignment schedule that achieves the objective function, which is the maximization of sales revenue according to the efficiency of salesmen and the market potentiality of the territories.
The maximum achievable sales is Ks 112,000, which is also equal to the maximum sales achieved through the optimal assignment schedule determined above.
Data and Calculations:Sales per Territory and Salesman
Territory Salesman Maximum
X Y Z W Sales
A 16 13 17 23 23
B 7 12 37 18 37
C 10 25 14 9 25
D 25 27 18 25 27
Max Sales Achievable 112
Thus, to achieve the maximum sales revenue, the marketing manger should assign Salesman X to Territory D, Salesman Y to Territory C, Salesman Z to Territory B, and Salesman W to Territory A.
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A business would like to increase consumer demand for a product that has
not been selling well. According to the law of demand, how could the
business accomplish this goal?
OA. By increasing the supply of the product
B. By selling the product at a lower price
C. By selling the product at a higher price
D. By decreasing the supply of the product
SUBMIT
Answer:
B. By selling the product at a lower price
Explanation:
According to the law of demand, the business can increase consumer demand for a product that has not been selling well by selling the product at a lower price.
Therefore, the correct answer is B. By selling the product at a lower price.
When Gustavo and Serrana bought their home, they had a 5.9% loan with monthly payments of $870.60 for 30 years. After making 78 monthly payments, they plan to refinance for an amount that includes an additional $35,000 to remodel their kitchen. They can refinance at 4.8% compounded monthly for 25 years with refinancing costs of $625 included with the amount refinanced.
(a) Find the amount refinanced. (Round your answer to the nearest cent.)
(b) Find their new monthly payment. (Round your answer to the nearest cent.) $
(c) How long will it take to pay off this new loan if they pay $1200 each month? (Round your answer up to the next whole number.)
Answer:
b
Explanation:
The formula used to calculate the fixed monthly payment (P) required to fully amortize a loan of L dollars over a term of n months at a monthly interest rate of r is P = L [r(1 +r)n]/[(1 + r)n- 1]
Listed below are selected transactions of Schultz Department Store for the current year ending December 31.
1. On December 5, the store received a deposit from the Selig Players to be returned after certain furniture to be used in stage production was returned on January 15. $ 500
2. During December, cash sales were received, which include the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. $ 798,000
3. On December 10, the store purchased for cash three delivery trucks. The trucks were purchased in a state that applies a 5% sales tax. $ 120,000
4. The store sold 25 gift cards for $100 per card. At year-end, 20 of the gift
cards are redeemed. Schultz expects three of the cards to expire unused.
Number of gift cards sold 25
Value of each gift card $ 100
Number of cards unredeemed at year-end 20
Number of cards expected to expire unused 3
Instructions
Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting entries are recorded only once a year on December 31.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
Debit Credit
1. Dec.5
2. Dec. 1 - 31
3. Dec. 10
4. Dec. 31
Dec. 31
The journal entry of Department Store for the current year ending December 31 is given below:
What are journal entries?Journal entries are the entries made to document the transactions carried out by the company. The books of accounts have a record of every dollar that comes in and goes out. The transactions that are documented are in the book of accounts and are examined and audited for surplus payments or deficits, which are the most frequent errors to be discovered over recording, after they have been made. Below are the diary entries related to the context that are attached.
Date Particular Amount (Dr) Amount(Cr)
1 Dec 2005 cash 500 500 2 Dec 31 cash 798,000
Sales 760,000
Sales Taxes Payable 38,000
(Being sales recorded)
3. Dec 10 Delivery Truck 126,000
cash 126,000 4. Dec 31 cash 126000
Sales 2500
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The Blue Bird Bus Company in Georgia sells buses to the South African government. To South Africa, these buses are an example of:
Group of answer choices
countertrades
intangibles
exports
imports
tariffs
1. Why do we need emotions when we make decision?
2. Why do you think the reason and impartialty are minimum requirements in decision making?
To keep people trusting in the decision-making process, there must be the illusion of impartiality. When there is a conflict of interest, you shouldn't participate in the decision-making process.
Why are feelings necessary for moral decision-making?Emotional processes influence moral judgement by giving moral decision-making scenarios an affective value, which helps to define what behaviours are acceptable and unacceptable (Haidt, 2001).
What do reason and objectivity in morality mean? Why are impartiality and reason considered to be the bare minimum of morality?It is a basic justice principle. Giving equal and/or sufficient regard to the interests of all parties involved is necessary according to the impartiality moral theory. It is predicated on the idea that everyone is, usually speaking, equally significant and that no one is viewed as having more intrinsic value than another.
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Market research can help you strategize your _______ and _______ goals.
Primary research is more _______ than secondary research.
Your first marketing priority is to find out if you can _______ your product or services.
The grouping of people for marketing purposes is called _______.
Once you find out what people want, there’s a need to know the _______ for their choices.
Market research can help you strategize your business and marketing goals.
Primary research is more specific and tailored to your specific needs than secondary research.
Your first marketing priority is to find out if you can sell your product or services.
The grouping of people for marketing purposes is called segmentation.
Once you find out what people want, there's a need to know the motivations for their choices.
Market research plays a critical role in shaping business and marketing strategies by providing valuable insights into customer preferences, market trends, and competitive landscapes. It helps in identifying target markets, understanding customer needs, and developing effective strategies to achieve business and marketing goals.
By conducting research, businesses can gather data and information to inform their decision-making and ensure that their goals are aligned with customer expectations and market opportunities.
Primary research involves gathering firsthand data directly from the source, such as through surveys, interviews, or observations. It is more specific and focused on the unique needs and objectives of a particular study. Secondary research, on the other hand, involves using existing data and information from published sources.
While secondary research provides a broader understanding of a topic, primary research allows for more control and customization of the research process to address specific research objectives.
When launching a new product or service, one of the primary marketing priorities is to determine if there is a demand for it in the market.
Market research helps in assessing the viability and potential success of a product or service by gathering insights on customer preferences, needs, and market conditions. This information enables businesses to make informed decisions about product development, positioning, pricing, and marketing strategies.
Segmentation is the process of grouping individuals with similar characteristics or behaviors into distinct segments for marketing purposes.
By segmenting the market, businesses can target specific groups that are most likely to be interested in their products or services. Market segmentation allows for more personalized and targeted marketing strategies, resulting in better customer engagement and increased marketing effectiveness.
Once businesses identify what people want through market research, it becomes crucial to understand the motivations behind their choices. This involves delving deeper into the underlying reasons, preferences, and factors that drive consumer behavior.
By understanding the motivations behind consumer choices, businesses can tailor their marketing messages, product features, and overall customer experience to better align with customer needs and increase the chances of success in the market.
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how do u get arrested
Answer:
breaking the laws that's one way to get arrested, if that's what you are asking lol
Answer:
Basically anything that interferes with the law or disturbs peace
Explanation:
1)hurt someone.
2)Spray paint.
3)Punch someone.
4)Fight with officer.
5)Get out of control at school.
6)Get in a fight.
7)Steal a car.
8)Sell drugs.
9)Hit a police car and drive off.
10)Threaten to hurt yourself.
etc
Why should providers seek to minimise health plan rate differentials
Providers seek to minimize health plan rate differentials to prevent the market/business from being compelled to abandon plans with smaller reductions.
What is health plan ?Programs or organizations that offer health benefits in any way—directly, through insurance, through reimbursement, or in another way—are referred to as health plans. The following are just a few examples of health plans: a health insurance plan. a service benefit organization's contract.
An individual's care needs, the services they will receive to meet those needs, who will offer the services and when, and who will supply the services are all identified in a personal plan.
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Which consumer protection law requires that products be free of defects when sold?
a. used car rule
b. uniform commercial code
c. bill of consumer rights
d. credit card accountability, responsibility, and disclosure act
The uniform commercial code is a law that requires that products are free of defects when they are sold.
What is the uniform commercial code?This is a term, that is used to refer to all of the commercial laws that are used to apply to the buying and the selling of goods in the US.
The law protects customers in such a way that the products are free of defects when they buy. The products can also be returned if they are not.
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The consumer protection law that requires that products be free of defects when sold is the b. uniform commercial code
What is Consumer Protection Laws?This refers to those laws put in place in order to protect the customer from unethical practices of business owners.
Hence, we can note that the uniform commercial code is the consumer protection law that requires that products be free of defects when sold so that the customers can get the maximum value for the products.
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used to protect all sorts of building structures
what is it?
Answer:
Your answer is Paint is used to protect all sorts of buildings and structures from the effects of water and sun
Explanation:
Hope this helps u
Crown me as brainliest:)
Jennette handles customer complaints at a small stationary company, and noticed that customers tended to complain about just a few products. Jennette e-mailed her manager a proposal requesting customer support software to help them track the issues, and they got a free trial of the software. After a few months, the system did not seem to be saving her time, and her manager said this would be too expensive. Jennette decided to abandon the software, and use a spreadsheet to track customer complaints instead. By finding a new solution, Jennette demonstrated:_________
a. cognitive dissonance
b. product innovation
c. extrinsic motivation
d. productive forgetting
Question 4 of 10
How is a first draft different from brainstorming?
A. Brainstorming is generally more difficult than writing a first draft.
B. Brainstorming is usually more focused than a first draft.
C. A first draft is less organized than the writing done in
brainstorming.
OD. A first draft begins to develop the ideas that came in
brainstorming.
A first draught begins to flesh out the ideas that emerged during brainstorming. When you brainstorm, you write down all of your ideas in the order they come to you.
What exactly do you mean by "brainstorming"?Brainstorming is a problem-solving method used in groups that involves the spontaneous contribution of creative ideas and solutions. This technique necessitates a lengthy, free-flowing discussion in which each group member is encouraged to think aloud and propose as many ideas as possible based on their diverse knowledge.
What is the primary goal of brainstorming?Brainstorming is a strategy for generating a large number of ideas to help solve a specific problem. The technique has been used for over 70 years and is still used today to engage students in problem solving. There is a general structure to follow when developing brainstorming sessions.
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what is an event management
Answer:
vent management is the application of project management to the creation and development of small and/or large-scale personal or corporate events such as festivals, conferences, ceremonies, weddings, formal parties, concerts, or conventions.
Explanation:
Entrepreneurs generally think differently about resources than do employee-managers in which of the following ways?
Managers want larger budgets; entrepreneurs work to do more with less.
How do entrepreneurs approach resources differently from employee-managers?Entrepreneurs have a distinct mindset when it comes to resources compared to employee-managers. While managers often seek larger budgets to accomplish their goals, entrepreneurs tend to focus on doing more with less.
This difference in perspective stems from the inherent nature of entrepreneurship which involves taking calculated risks and maximizing efficiency in resource allocation.
Entrepreneurs understand that resources, such as capital, time, and manpower, are limited and valuable. They recognize that acquiring substantial budgets may not always be feasible, especially in the early stages of a venture.
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For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so, how much it has earned.
Customers paid Raymond $1,500 for work Raymond will perform in June.
Customers purchased $6,000 of inventory for which they have not yet paid.
Raymond performed work for customers and was paid $3,400 in cash.
Customers paid Raymond $2,300 for inventory purchased in April.
Record the journal entries for number 2 above.
Answer and Explanation:
As per the question, the journal entry for number 2 is as follows:
Accounts Receivable $6000
To Sales $6,000
(Being revenue earned is recorded)
Here account receivable is debited as it increased the assets and credited the sales as it increased the revenue
Ye the revenue is earned for $6,000
as a result of the stock market crash, some banks suffered more losses than they could absorb and
The country's banks suffered severe harm from the market crash in two ways. Because the losses they experienced during the crash were too severe for them to handle, some banks were forced to close.
What is the Stock market crash?A stock market crash occurs when stock prices suddenly and dramatically fall over a broad segment of the stock market, leading to a sizable loss of paper wealth.
Selling in a panic and underlying economic issues are what cause crashes. They frequently follow speculative bubbles and the economy.
In a positive feedback loop where selling by certain market participants encourages more market players to sell, a stock market crash is a social phenomenon where external economic factors interact with crowd psychology.
The market collapse badly damaged the banks of the country in two ways. Some banks were forced to close because the losses they sustained during the crash were too great for them to bear.
Therefore, the country's banks suffered severe harm from the market crash in two ways. Because the losses they experienced during the crash were too severe for them to handle, some banks were forced to close.
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(Just need some ideas and inspiration) What do you consider the most important challenge that will face people in the United States in the years ahead?
Food security, hunger, poverty, population growth, pollution, heatwaves, droughts, and climate change are all interconnected.
What is Food security?Food security refers to the availability of food in a nation and the capacity of its citizens to obtain, afford, and procure enough food.
The United Nations Committee on World Food Security defines food security as everyone having constant physical, social, and economic access to enough, safe, and nourishing food that satisfies their dietary needs and food preferences for an active and healthy life.
Another aspect of food security is the accessibility of food regardless of class, gender, or area.
Food security was a problem many thousands of years ago, as shown by the fact that central governments in ancient China and ancient Egypt were known to release food from storage during famines.
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In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at $6, (2) 470 units at $8, and (3) 570 units at $9. Assuming there are 270 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Wildhorse Co. uses a periodic inventory system. FIFO LIFO The Ending Inventory $Enter a dollar amount $Enter a dollar amount
Answer:
The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620
Explanation:
First determine the units sold
Units Sold = Total Purchases - Units in hand
= 1,410 units - 270 units
= 1,140
Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.
FIFO
Means First in First Out
Cost of the ending inventory = 270 x $9.00 = $2,430
LIFO
Means Last in First Out
Cost of the ending inventory = 270 x $6.00 = $1,620
Conclusion
The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620