Date Account Titles and Explanation Debit Credit
January 1/20 Accounts Receivable 529,000
Sales Revenue 529,000
Cost of Goods Sold 455,000
Inventory 455,000
December 31/20 Warranty Expense 19,200
Cash 19,200
December 31/20 Estimated Warranty Liability 24,400
Warranty Expense 24,400
On January 1, 2020, Crane Ltd. sold 1,200 units of its product on account of a total price of $529,000. The journal entry to record the sale would be to debit Accounts Receivable for $529,000 and credit Sales Revenue for $529,000. At the same time, the company would need to record the cost of goods sold by debiting the Cost of Goods Sold for $455,000 and crediting Inventory for $455,000.
The products sold have a one-year assurance-type warranty, and the company estimates the warranty cost to be $24,400. Therefore, on December 31, 2020, the company needs to adjust the warranty expense account based on the actual warranty costs related to the products sold. The actual warranty costs paid in cash were $19,200, so the company would debit Warranty Expense for $19,200 and credit Cash for $19,200.
Finally, the company needs to adjust the estimated warranty liability account based on the change in the warranty expense account. The estimated warranty liability account should be credited for the estimated warranty cost of $24,400 and debited for the actual warranty cost of $19,200, resulting in a credit of $5,200. Therefore, the company would debit Warranty Expense for $24,400 and credit the Estimated Warranty Liability for $24,400.
Note that all account titles are automatically indented when the amount is entered, and manual indentation is not required.
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describe the process of career planning
Answer:
The career planning process involves taking the time to decide what your career goals are and how you'll get there. You might engage in this process on your own or with a guidance or career counselor. You can also start the career planning process at any point in your career.
Explanation:
Answer:
aalu jasto answer dinxa
f the cross-price elasticity of food and clothing (% change in demand for clothing / % change in the price of food) is -0.7, then the income effect on demand for clothing caused by a price increase of food A. tends to increase the consumption of clothing. B. tends to decrease the consumption of clothing. C. is less than the substitution effect. D. None of the above.
Answer:
Option "D" is correct.
Explanation:
Given the cross-price elasticity = -0.7
The rise in price of a commodity will decrease the consumption of the same commodity but it will increase the consumption of its substitute commodity. When the price rises for food then the nominal income falls, resulting in the fall in demand for food. Since income elasticity considers the change in actual income. Thus option D is correct.
an economic issue related to the marketing environment of a product and a very important factor for the pricing of a product in a new/foreign market is
An economic issue related to the marketing environment of a product could be the inflation rate in the target market. This can affect the cost of production, distribution, and marketing, ultimately impacting the pricing strategy of the product.
In addition, exchange rates and tariffs can also play a significant role in pricing decisions for products in foreign markets. Companies need to carefully consider these economic factors when entering new markets to ensure they are pricing their products competitively while still maintaining profitability.
Exchange rates have a significant impact on the pricing of products in international markets, as they directly affect the cost of importing and exporting goods, as well as the competitiveness of a product's price in the foreign market. Exchange rates play a crucial role in determining the pricing of a product in a new/foreign market and are an important economic issue to consider when evaluating the marketing environment of a product.
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value-chain analysis assumes that the basic economic purpose of a firm is to create value, and it is a useful framework for analyzing the strengths and weaknesses of the firm. group of answer choices true false
Above statement is correct. The actual production of a product or service, its sale and transfer to the customer, and its after-sale service are all impacted by primary activities.
What are the strengths of value chain analysis?Value chain analysis makes it simple to pinpoint the processes where you can save costs, make the most of your efforts, get rid of waste, and boost profits. Examining actions also reveals information about components that are more valuable to the user.
What is the basic concept of the value chain model?The term "value chain" refers to the entire set of activities needed to take a good or service from conception through the various stages of production (involving a combination of physical transformation and the input of different producer services), delivery to the final consumer, and final disposal after use.
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a manufacturing process has a fixed cost of $150,000 per month. each unit of product being produced contains $29 worth of material and takes $40 of labor.
A manufacturing process has a fixed cost of $150,000 per month. each unit of product being produced contains $29 worth of material and takes $40 of labor as follows:
Breakeven point = Fixed Cost / (Selling price - Variable cost)
Selling price = 90
Variable Cost = (25 + 45) = 70
Fixed Cost = 150,000
Breakeven point = 150,000 / (90 - 20) = 7500.
Hence, 7500 units are needed to break even
Material orbs are glowing, color-coded gadgets that appear to be gems. You can locate them scattered (and once in a while hidden) across the world, purchase them, and acquire them as rewards.
Fixed production fees vary from variable fees in that they do now no longer range even if the extent of manufacturing will increase modestly. Variable fees, on the opposite hand, upward push or drop in percentage with the extent of manufacturing. For instance, the belongings tax a organization should pay on their factories is a hard and fast expense.
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EXERCISES
Matching Match each term in Column A with its definition in
Column B.
>
Column A
1. economics
2. goods
3. services
4. producers
5. consumers
6. resources
7. scarcity
8. opportunity cost
Column B
a. go into making goods and services
b. one good or service given up in order to get
another
c. business owners, managers, and workers
d. things of value that cannot be seen or touched
e, the study of the choices people make as
producers and consumers
f. things of value that can be seen and touched
g. those who buy or use goods and services
h. limited supply of goods and services
Answer: See explanation
Explanation:
a. go into making goods and services = Resources
b. one good or service given up in order to get another = Opportunity cost
c. business owners, managers, and workers = Producers
d. things of value that cannot be seen or touched= Service
e, the study of the choices people make as producers and consumers = Economics
f. things of value that can be seen and touched= Good
g. those who buy or use goods and services = Consumers
h. limited supply of goods and services = Scarcity
Imagine that Art’s Flower Shop has blossomed into a large, sophisticated corporation, that advertises in the yellow pages and also spends thousands each year in its online advertising. Imagine also that the local government has required advertising services to buy a license, to raise money for the city.
Answer:
1)B. that the printer's conduct was gross negligence
2)D. No, because Art's is the party trying to enforce the contract
Explanation:
Imagine that Art’s Flower Shop has blossomed into a large, sophisticated corporation, that advertises in the yellow pages and also spends thousands each year in its online advertising. Imagine also that the local government has required advertising services to buy a license, to raise money for the city.
1)In order to win its case, Art's will have to prove __________
A. that its business suffered hugely when the yellow pages ad was omitted
B. that the printer's conduct was gross negligence
C. that flowers are important to the public welfare
2)If the yellow page printer does not have an advertising license, can it argue that it is not liable because it had no contract at all with Art's? ______________.
A. Yes, because it had no license
B. No, because the license is merely to raise money for the city
C. Yes, unless it had submitted an application for license and the application was pending
D. No, because Art's is the party trying to enforce the contract
D. No, because Art's is the party trying to enforce the contract
We are informed about an Art’s Flower Shop that has blossomed into a large, sophisticated corporation, that advertises in the yellow pages and also spends thousands each year in its online advertising. Imagine also that the local government has required advertising services to buy a license, to raise money for the city.
1) In order to win its case, Art's will have to prove that the printer's conduct was gross negligence.
gross negligence is when something, legal obligation, someone, lack maintainance, care. Or there is voluntary disregard. Therefore, if he want to win the case he has to prove that the printer's conduct was gross negligence.
2)If the yellow page printer does not have an advertising license, can it argue that it is not liable because it had no contract at all with Art's?
There is no argument that can be won here because, the enforcement of the contract is from the Art itself.
Write a scenario that will help you understand the following word or topic and show me that you understand their importance.
Criticism - is the practice of judging the merits and faults of something. Criticism as an
evaluative or corrective exercise can occur in any area of human life. In specific areas of
human endeavor, the form of criticism can be highly specialized and technical; it often requires professional knowledge to understand the criticism.
Criticism is the practice of judging the merits and faults of something. Criticism as an evaluative or corrective exercise can occur in any area of human life.
Write a scenario that will help you understand criticism?You are a film director and your latest film has just been released. You're excited to see what people think of your work, but when you read the reviews, you are met with a lot of criticism. Some reviewers claim the acting was lackluster, others say the plot was confusing, and a few even say that the special effects were underwhelming.
At first, you feel disheartened and defensive. But after some reflection, you realize that criticism can be a valuable tool for growth and improvement. You start to take the criticism seriously and use it to inform your future work. You work on improving your acting direction, make sure that your plots are clearer, and pay more attention to the special effects.
A year later, you release a new film and it is met with widespread praise. Critics call it a major improvement over your previous work and praise the acting, plot, and special effects. You realize that criticism is an important part of the creative process and can help you become a better filmmaker.
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knowledge check 01 during the current year, harold company sold inventory costing $350,000 for a selling price of $675,000. beginning balances of inventory and accounts payable were $86,000 and $116,000, respectively. the ending balance of inventory is $94,000 and the ending balance of accounts payable is $123,000. what is the amount of cash paid to the suppliers of goods?
To find the amount of cash paid to the suppliers of goods for Harold Company, we need to consider the following terms: inventory, accounts payable, and cost of goods sold. Here's a step-by-step explanation:
1. Calculate the cost of goods sold (COGS): Since the inventory costing $350,000 was sold for a selling price of $675,000, the COGS is $350,000.
2. Determine the change in inventory: The beginning balance of inventory was $86,000, and the ending balance is $94,000. The change in inventory is $94,000 - $86,000 = $8,000 (an increase in inventory).
3. Calculate the total inventory purchased: COGS + change in inventory = $350,000 + $8,000 = $358,000.
4. Determine the change in accounts payable: The beginning balance of accounts payable was $116,000, and the ending balance is $123,000. The change in accounts payable is $123,000 - $116,000 = $7,000 (an increase in accounts payable).
5. Calculate the amount of cash paid to the suppliers of goods: Total inventory purchased - change in accounts payable = $358,000 - $7,000 = $351,000.
Therefore, the amount of cash paid to the suppliers of goods during the current year for Harold Company is $351,000.
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Accourding to the quantity theory of money all countries with the same average annual rates of inlfation must also have the same average annual rates of money growth.
a. True
b. False
True According to the quantity theory of money, if the amount of money in an economy doubles, all else equal, price levels will also double.
Definition: The quantity theory of money states that the money supply and price level in an economy are directly related to each other. When the money supply changes, the price level changes proportionally, and vice versa.
The quantity theory of money states that the price level multiplied by real output is equal to the money supply multiplied by the speed or rotation of the money supply. Speed is generally stable.
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Fill in the blank:
Setting (blank) objectives, may improve a firm's reputation as well as help it recruit, motivate and retain staff. On the other hand, doing so may impose additional
(blank) on the firm.
Social objectives, may improve a firm's reputation as well as help it recruit, motivate and retain staff. On the other hand, doing so may impose additional
liabilities on the firm.
The term "social aims" refers to goals that are intended to be realized for the betterment of society. Company makes use of society's limited resources. As a result, people expect something in exchange for its well-being. The fulfillment of social duties is referred to as a social objective.
So, Social objective and Liabilities area correct answers.
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Employees with positive core self-evaluations believe in their inner worth and basic competence and are more satisfied with their jobs than those with negative core self-evaluations. The concept of positive core self-evaluations indicates that ________.
Positive core self-evaluations shows that employee's personality plays a role in job satisfaction.
What is Core self-evaluation?Core self-evaluations encompasses individual's subconscious evaluations of themselves, abilities and their own control.
Usually, individual with Positive core will think more positively of themselves and be confident in their own abilities.
Therefore, the Option D is correct.
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What grade are y’all in ? So I can give some advice ! Middle school or high school ?
Answer:
Im in middle school, 7th grade
Explanation:
Some advice would be great :)
Why do corporations, companies, and government agencies use formal application forms?Select the best answer from the choices provided.A.they only hire part-time or entry-level employeesB.they do not have time to interview everyone they employC.it is the first step in the employment processD.due to the amount of employment requests they need a uniform document to organize records and identify candidates' skills
Answer:
D
Explanation:
they can not hire everyone
Why do we record Direct deposits into the CPJ
Explanation:
Because those payments are done for creditors, repayment of loans and other expenses
Now that you understand what investments are, you will search for three image examples that represent investments. You may choose to select images that represent the key concepts of investments, or examples of different types of
investments. In a short paragraph, explain why each of your selected images is an appropriate representation. Be sure
to follow proper image use and citation guidelines; click here for a quick review on these guidelines. In a second
paragraph, discuss the sources of each of your images and why they are reputable.
There are three main types of investments: Ownership, Lending, or cash. Ownership investments are the most volatile and profitable class of investment. Such as owning stock meaning owning a portion of a company. It may be a minuscule stake, but it's ownership. More broadly speaking, all traded securities, from futures to currency swaps, are ownership investments. Investors purchase them in order to share in the profits, or because they will increase in value, or both. Lending money is a category of investing. The risks generally are lower than for many investments and, consequently, the rewards are relatively modest. A bond issued by a company or a government will pay a set amount of interest over a set period of time. The only real risk is that the company or government will go bankrupt, in which case the bondholder may get little or none of the investment back. A regular savings account is an investment. The investor is essentially lending money to the bank. The bank will pay interest to the account holder and will earn its profit by loaning out the rest of the money to businesses at a higher rate of interest. These are investments are "as good as cash," which means that they can be converted back to cash easily and quickly. Money market funds are more liquid than other investments, meaning you can write checks out of money market accounts just as you would with a checking account. Although, once you start writing checks on it you've erased much of its value as an investment.
the effect of an increase in the price level on the aggregate-demand curve is represented by a
Answer:
movement to the left along a given aggregate-demand curve.
Explanation:
The chart shows the marginal cost of producing apple pies.
A 3-column table titled The cost of pie production has 7 rows. The first column is labeled Pies produced per day with entries 0, 1, 2, 3, 4, 5, 6. The second column is labeled Total cost with entries 0, 1, 1.50, 1.75, 2.25, 3.50, 5. The third column is labeled Marginal cost with entries 0, 1, 0.50, 0.25, 0.50, 1.25, and 1.50.
This chart demonstrates that the marginal cost
initially decreases as production increases.
initially increases as production increases.
eventually decreases as production increases.
eventually increases as production decreases.
Answer:
initially decreases as production increases.
Explanation:
Marginal cost refers to the additional expenses incurred by producing one more unit. According to the chart, the production of the first item had a marginal cost of $1. the second item had a marginal cost of $0.50, and the third item $0.25. The marginal cost trend is on the decline.
The marginal cost starts to increase after the fourth item. It is clear that the marginal cost was initially declining but began to rise as production increased.
Answer:
b
Explanation:
Imagine you know someone starting off in his or her first career. Based on what you learned in the module, what financial advice would you give this person and what challenges might he or she face?
Answer:
The most important and basic financial advice we can give to a person starting his career is to only spend as much as the person earns.
Explanation:
Because starting salaries tend to be lower than average, it is not very likely that this person will be able to save, but keeping a balanced personal budget will be very helpful anyway.
A second advice is to avoid debt on consumer goods, and only use debt for long-term investments like a house or a graduate degree. Credit card debt should be specially avoided because of the very high interest rates.
Finally, a third advice is that once this person earns enough to save, to look for safe financial instruments to put his or her money, like a mutual fund or a money market fund.
Imagine that through some miraculous accident, you become the CEO of apple in 2019.
• What are the market opportunities available to your company?
• What are the market forces threatening your company? How will they turn out?
• What kind of new products would you research? Why? What is your market? What differentiates your product from that of your competitors?
• Which legacy products, if any, would you leverage? Why? In which markets?
• What brewing cultural forces within your company would you try to fight? 4. Write a brief mobile security policy based on one of, or both, of the methods we have covered in class. Write this policy for your employer, or if you do not have one, for St. Mary’s, for a past employer, or for an organization you have made up.
• Describe the employer in 1-3 sentences.
• Describe the mobile fleet in 1-3 sentences.
• 100-200 words, author a succinct, but relatively comprehensive, mobile security policy outline that hits on all of the major points.
Imagine that through some miraculous accident, you become the CEO of apple in 2019. Market Opportunities the expansion into emerging markets with growing smartphone penetration.
The development of innovative products and services in the wearable technology market. The leveraging the growing demand for subscription-based services and digital content.
Market Threats:
The intense competition from other smartphone manufacturers and technology giants.
Intellectual property disputes and legal challenges.
New Product Research:
The focus on sustainable and eco-friendly product design.
To make differentiation through seamless integration of hardware, software and services.
Legacy product leveraging:
Leveraging the success and brand recognition of flagship products like the iPhone and MacBook to maintain market share.
Continued support and enhancement of existing product lines to cater to specific customer segments.
Cultural forces:
For promoting a culture of innovation, collaboration and open communication.
For encouraging diversity and inclusion within the organization.
Mobile security policy outline:
The mobile fleet consists of company-provided smartphones and tablets used by employees for work-related tasks, communication and accessing sensitive information.
Mobile Security Policy Outline:
Device Security employees must use passcodes or biometric authentication to secure their devices.
Regular security updates and patches should be installed on all devices.
Data protection:
Employees should encrypt sensitive data stored on mobile devices.
App and software usage:
The employees should only install approved and vetted apps from authorized app stores.
Network security:
The employees should connect to secure and trusted Wi-Fi networks.
The usage of public Wi-Fi networks should be limited and done through VPNs.
Incident Response:
A clear process for reporting and handling security incidents should be established.
The regular training and awareness programs should be conducted to educate employees about mobile security best practices.
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the rate of change is how fast the data is changing.
True
False
Answer:
true
Explanation:
i got it right edg 2020
Which of the following statements is true when computing the net cash provided by (used in) operating activities? Multiple Choice If the accounts receivable balance increases during the period, the amount of the increase is subtracted from net income. If the retained earnings balance increases during the period, the amount of the increase is added to net income. If the retained earnings balance increases during the period, the amount of the increase is subtracted from net income. If the accounts receivable balance increases during the period, the amount of the increase is added to net income
The true statement when computing the net cash provided by (used in) operating activities is: If the accounts receivable balance increases during the period, the amount of the increase is subtracted from net income.The net cash provided by (used in) operating activities is a line item in the cash flow statement.
The cash flow statement's primary purpose is to help investors, creditors, and analysts evaluate a company's ability to generate cash from its operations.In the cash flow statement, the company reports the net income figure and adjusts it for non-cash items that affect net income.
An increase in accounts receivable during the period indicates that the company's cash inflows have not increased at the same rate as the sales. Therefore, the increase in accounts receivable is subtracted from net income when calculating net cash provided by (used in) operating activities.
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Which details apply to a financing contract? Check all that apply.
requires a credit check
are always less expensive than using a credit card
includes interest rate information
requires a signature for rent-to-own agreements
can be broken at any time
The details apply to a financing contract - requires a credit check, includes interest rate information and requires a signature for rent-to-own agreements.
Finance contracts, also known as financial services contracts, are contracts used in securities law to allow for individually negotiated agreements involving commodities, securities, currencies, or other economic or financial interests.
A financial contract is a transaction between parties involved in the financial markets that takes the form of an independently arranged agreement, contract, or option to sell, buy, swap, lend, or repurchase.
Commercial advance payments and commercial interim payments are two types of contract financing payments for commercial item purchases.
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Answer:
1,3,4
Explanation: Anytime you apply for credit, there's always some type of credit check. Interest is sometimes applied as a means for the creditor to make money off the transaction. Rent to own is never a good thing but needed in cases of low or no credit.
It is generally harder to transfer one's ownership interest in a partnership than in a corporation. a. True b. False
There are different kinds of business. It is generally harder to transfer one's ownership interest in a partnership than in a corporation is a True statement.
Why is it harder to transfer one's ownership interest in a partnership?Partnerships and proprietorships are known to have a tax advantage when compared to corporations. It is therefore harder to transfer one's ownership interest in a partnership than that of an corporation.
Ownership in a corporation is said to be usually transferred through the sale of stock. A change in ownership is known to not affect the presence of the corporation.
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Mintzberg determined that managers tend to rely more heavily on ______ communication than ______ communication when conducting business.
Answer:
Verbal; written.
Explanation:
Professor Henry Mintzberg is a prolific and an amiable author on business and management. He was born on the 2nd of September, 1939 and works at the Desautels Faculty of Management in McGill University, Canada.
According to Prof. Mintzberg in his book titled "Mintzberg on Management: Inside our Strange World of Organizations," there are ten (10) primary roles which can be used to classify the functions of a manager; figurehead, liaison, leader, monitor, negotiator, entrepreneur, disturbance handler, spokesperson, resource allocator and disseminator.
Additionally, Mintzberg determined that managers tend to rely more heavily on verbal communication than written communication when conducting business. This is simply because managers consider a written communication such as memo, reports, or letters consume more time when compared with verbal communication such as telephone calls, meetings or face-to-face conversations .
Why does Staples participate in Anti-Money Laundering Compliance?
To improve business performanceTo prevent illegal activity and terrorismTo prevent fraud
The main reason why Staples participates in Anti-Money Laundering Compliance is to prevent illegal activity and terrorism
Based on the given question, we can see that money laundering is a federal offense which is punishable by law and is aimed at preventing money fraud whereby large sums of (illegal) money are moved from one place to another, usually to finance other illegal activities.
With this in mind, Staples which is a US Online Store which sells business essentials such as computers, printing services, etc engage in the Anti-Money Laundering Compliance so as to prevent illegal activity and terrorism
Therefore, the correct answer is option B
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what are mutual funds
Answer:
mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt.
Answer:
A mutual fund is an open-end professionally managed investment fund that pools money from many investors to purchase securities. Mutual funds are "the largest proportion of equity of U.S. corporations." Mutual fund investors may be retail or institutional in nature. Wikipedia
Explanation:
A. What is the relation between transportation cost and inventory cost?
B. Why is sorting a major task in transportation?
C. Explain the relationship between cost per TEU and capacity in TEU for inland transportation or maritime transportation.
1. What is not a transportation planning task? a. Supply network design b. Strategy design c. Carrier selection d. Tactical transportation modeling e. Procurement planning
2. Planning on a daily basis is a- a. Tactical planning b. Operational planning c. Strategic planning d. All of the above e. None of the above
3. Which one is not a layer of transportation management - a. Modes b. Intermodal c. Driver d. Highway systems c. Fleet
4. Transportation cost per unit load decreases if - a. Transshipment size increases b. Distance traveled increases c. Truck sice decreases d. Fuel cost increases e. Labor cost increases
5. Which mode of transportation has the highest point to point market coverage? a. Air b. Water c. Rail d. Pipeline e. Truck
6. Planned Stops include all but - a. Preventive maintenance b. Machine break down c. Machine greasing d. Operator break e. None of the above
7. An example of link is - a. State highways b. Bus station c. Truck d. Port e. Barge
8. Vehicle routing is a function of all but - a. Number of stops b. Density of stops c. Time of stops d. Losds per stop e. Vehicle capacity
9. Shipment cost increases if - a. Location density increases b. Shipment density increases c. Flow or load is more balanced d. All of the above e. None of the above
10. Cross docking happens at - a. Pickup b. Delivery c. Hub d. Train c. Truck
11. You can save more money using the hub if - a. Shipments are equal to TL b. Shipments are small c. Shipments are very big d. Does not matter with shipment sizes e. None of the above
12. What is not true about hub location? - a. Close to major highways b. Close to railways c. Close to waterways d. Close to airport terminals e. Close to population centers
13. Direct shipping has usually? - a. Low inventory level b. Low receiving cost c. Intermediate distribution centers d. High inventory level e. Cross docking facilities
14. Forklift is an example of - a. Transportation infrastructure b. Secondary equipment c. Transportation node d. Primary equipment e. Transportation link
15. Port provides all of the following facilities except - a. Loading b. broker c. Unloading d. Cross docking e. Temporary storage
16. Transferring goods from fork lift to a local truck is a - a. Amodal transportation b. Bi-modal transportation c. Intermodal transportation d. Transmodal transportation e. Loading
17. Transferring goods from a local truck to a 18 wheeler is a- a. Amodal transportation b. Bi-modal transportation c. Intermodal transportation d. Transmodal transportation e. Multimodal transportation
18. Transferring goods from 18 wheeler to air cargo is a - a. Amodal b. Bi-modal transportation c. Intermodal transportation d, Intramodal transportation e. Transmodal transportation
19. The most common containers used in the transportation industry is - a. 10 fect long b. 20 fect long c. 40 feet long d. 45 foet long e. 53 fect long
20. 40 feet long containers can carry as much as amount of weight as 20 feet long containers. a. Same b. Double c. Slightly Less d. Slightly more e. None of the above
21. 'Reefers" means - a. Refer to b. Reference container c. Dry container d. Specialized container e. Refrigerated container
22. On an average most of the time containers are in - a. Ocean transit b. Terminal c. Repair d. Inland use e. Idle or empty
23. Which mode is cheaper for short distance (less than 500 miles) transportation? a. Intermodal transportation b. Truck c. Water d. Air e. Train
24 . What is not a reason of Reshoring? a. Reduce lead time b. Improve quality c. Protect intellectual property d. Reduce employment e. Lower logistics cost
25. Transportation security ensures the following, except a. Freight safety b. Human safety c. Loading and unloading efficiency d. Protects the value of goods in transit e. Transportation infrastructure safety
1. The relationship between transportation cost and inventory cost is inverse. As transportation costs decrease, inventory costs increase, and vice versa.
This is because a higher transportation cost incentivizes companies to reduce inventory levels to minimize transportation expenses, while lower transportation costs allow for higher inventory levels without significantly impacting costs.
2. Sorting is a major task in transportation because it involves organizing and arranging goods or shipments based on their destination or specific criteria. It ensures that items are grouped together efficiently, reducing handling time and improving the overall logistics process.
3. The relationship between cost per TEU (Twenty-Foot Equivalent Unit) and capacity in TEU for inland or maritime transportation is typically inversely related. As the capacity in TEU increases, the cost per TEU tends to decrease. This is because higher capacity allows for more efficient use of resources and economies of scale, resulting in lower transportation costs per unit.
4. The transportation planning task that is not listed is e. Procurement planning. Procurement planning focuses on the acquisition of goods or services and is not directly related to transportation planning, which primarily involves the coordination and optimization of the movement of goods.
5. The mode of transportation with the highest point-to-point market coverage is e. Truck. Trucks offer greater flexibility and accessibility, allowing them to reach destinations directly without relying on specific infrastructure like air, water, or rail transportation.
6. Planned stops typically exclude d. Operator breaks. Planned stops in transportation operations commonly involve activities such as preventive maintenance, machine breakdowns, machine greasing, and other necessary operational tasks, but operator breaks are usually managed separately.
7. An example of a link in transportation is c. Truck. In transportation terminology, a link refers to the actual means of transport, such as a truck, that connects different points within the transportation network.
8. Vehicle routing is influenced by all factors listed except d. Loads per stop. Factors such as the number of stops, density of stops, time of stops, and vehicle capacity play a significant role in optimizing vehicle routing decisions to achieve efficient and cost-effective transportation operations.
9. Shipment cost increases if d. All of the above factors are true. An increase in location density, shipment density, or a more balanced flow or load distribution can all contribute to increased shipment costs. These factors impact the efficiency and utilization of transportation resources.
10. Cross docking typically occurs at c. Hub. Cross docking is a logistics practice where goods are unloaded from incoming vehicles and directly loaded onto outbound vehicles with minimal or no storage in between. Hubs are often used as central locations for cross docking operations.
11. The hub is more cost-effective when a. Shipments are equal to TL (Truckload). When shipments are large enough to fill a truckload, utilizing a hub for consolidation and distribution can lead to cost savings by maximizing truck capacity and reducing transportation expenses.
12. The statement that is not true about hub location is d. Close to airport terminals. Hub locations are typically selected to be close to major highways, railways, waterways, and population centers. While proximity to airport terminals may be beneficial for certain operations, it is not a defining characteristic of hub location selection.
13. Direct shipping usually implies a. Low inventory level. Direct shipping refers to the transportation of goods from the origin to the destination without intermediate distribution centers. This method often involves lower inventory levels as it eliminates the need for storage and handling at additional locations.
14. Forklift is an example of d. Primary equipment. Forklifts are considered primary equipment in transportation operations as they play a vital role in handling and moving goods within warehouses, terminals, or distribution centers.
15. Ports provide facilities for a. Loading, b. Unloading, and e. Temporary storage. Ports serve as crucial points of transfer for goods between different modes of transportation,and they typically provide facilities for loading, unloading, and temporary storage of cargo.
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In the US the money supply in the economy is regulated by a. the US Treasury b. the Department of Commerce. c. the Federal Reserve d. the Federal Trade Commission.
The US money supply in the economy is regulated by the Federal Reserve.
It is also known as the central bank of the United States. The Federal Reserve regulates the money supply by influencing the availability and cost of credit in the economy, which in turn affects economic activity such as spending, investment, and employment.
The Federal Reserve System, or "the Fed," is the organization responsible for overseeing monetary policy in the United States. The Fed has several tools to influence the money supply, including changing interest rates, buying and selling government securities, and adjusting reserve requirements for banks.
Through these actions, the Fed can increase or decrease the amount of money in circulation in the economy. It aims to maintain price stability, promote full employment, and support sustainable economic growth.
The US Treasury is responsible for managing the federal government's finances, including collecting taxes and issuing debt. The Department of Commerce is responsible for promoting economic growth and development through policies that support businesses and trade.
The Federal Trade Commission is responsible for enforcing laws that promote fair competition and protect consumers from unfair or deceptive practices. However, none of these organizations are directly responsible for regulating the money supply in the economy.
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What is absolute advantage used for?
When contrasted to another entity of a comparable nature, an absolute unit's ability to generate things with fewer resources is the gauge of absolute advantage.
Absolute advantage is the capacity of a person, business, area, or nation to produce more of an item or service with the same amount of inputs per unit of time than its rivals, or to generate the same amount of a commodity or service with fewer inputs per unit of time.
By producing the good or service with a lower absolute cost per unit and fewer inputs, or by using a more effective technique, one might achieve absolute advantage.
In his book The Wealth of Nations from the 18th century, economist Adam Smith introduced the idea of absolute advantage to explain how nations might profit from trade by specializing in producing and exporting the things that they can manufacture more successfully than other nations. Countries with a clear advantage may choose to focus on producing and selling a particular commodity or service, using the proceeds to pay for goods and services from other nations.
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The ability of an absolute unit to produce things with fewer resources when compared to another entity of a similar nature is the indicator of absolute advantage.
What is Absolute advantage?Absolute advantage may be attained by manufacturing the good or service with a lower absolute cost per unit and fewer inputs, or by utilizing a more efficient technique.
Adam Smith, an economist, developed the concept of absolute advantage in his 18th-century book The Wealth of Nations to describe how countries might benefit from trade by specializing in producing and exporting the goods that they can make more successfully than other nations. Countries
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