Suppose a Monopsony facing the following labor supply given by curve L = 10W, where L is the number of workers and W = hourly wage. a) Express the hourly wage in terms of the number of workers (L). b) Provide an expression of total labor cost in terms of the number of workers (L) c) Express the marginal expense of labor (MEL) in terms of the number of workers. d) Suppose the marginal revenue product of labor ((MRPL) = 7 – L. What is the level of workers that maximizes the monophony’s profit? What is the wage paid by the monopsony at the profit maximizing level of labor?
Answers
Answer: The answer is given below
Explanation:
a. Express the hourly wage in terms of the number of workers (L).
From the question, the labor supply given by L = 10W, where,
L = number of workers
W = hourly wage
Since L = 10W
Divide both side by 10
L/10 = 10W/10
W = L/10
The hourly wage(W) expressed in terms of the number of workers(L) is L/10.
b. Provide an expression of total labor cost in terms of the number of workers (L).
Total labor cost = L × W
Since W = L/10,
Total labor cost = L × L/10
= L²/10
c. Express the marginal expense of labor (MEL) in terms of the number of workers.
Marginal expense of labor will be gotten when we find the derivative of the total labor cost.
Total labor cost = L²/10
MEL = 2L/10
We can reduce to lowest term
MEL = L/5
d. Suppose the marginal revenue product of labor ((MRPL) = 7 – L. What is the level of workers that maximizes the monophony’s profit? What is the wage paid by the monopsony at the profit maximizing level of labor?
Marginal revenue product of labor (MRPL) = 7 – L
At equilibrium, the marginal revenue product of labor (MRPL) will be equal to the marginal expense of labor(MEL)
MRPL = MEL
7 - L = L/5
Cross multiply
5(7 - L) = L
35 - 5L = L
35 = L + 5L
35 = 6L
L = 35/6
L = 5.83 = 6 Approximately
The level of workers that maximizes the monophony’s profit will be approximately 6.
Wages paid = L/10
= 6/10
= 0.6
The wage paid by the monopsony at the profit maximizing level of labor will be 0.6.
Related Questions
What is potentially problematic about using religious symbols in
advertisements?
Answers
Answer:
They might offend the intended audience.
Explanation:
If you have a certain religion and one company advertises one of those religions that is not yours customers may take offense to it and you will have less customers therefore less profit.
Potentially problematic, using religious symbols in advertisements is likely to be reckoned offensive.
What is an advertisement?The term advertisements refer to promoting brands or any products digitally or through a campaign by which the advertisement can be there in it by an advertisement the sales of the product can be there, and more revenue can be generated from it. By the advertising. The more about the product sales be there in it.
Using religious symbols in advertising make problematic can be there, and using religious things in advertising can hurt people's internal sentimental as well the person is more like to be religious as compared to the advertisements in it. Using religious things make the advertisement more potentially and more.
Therefore, it is always a problem to use advertisements in religious symbols.
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As the level of inventory increases to provide better customer service both inventory costs and quality-related customer service costs increase.
a) true
b) false
Answers
Answer:
A. True
Explanation:
level of inventory is very essential as far as customer service is concerned, inventory are amount of goods that is stocked for some purposes, this could be to sell, to distribute.
It should be noted that As the level of inventory increases to provide better customer service both inventory costs and quality-related customer service costs increase.
Abbott Company purchased $6,500 of merchandise inventory on account. Abbott uses the perpetual inventory method. How does this transaction affect the financial statements? Multiple Choice Decrease accounts payable and decrease purchases Increase inventory and increase accounts payable Increase cost of goods sold and increase accounts payable Decrease accounts payable and decrease inventory
Answers
The correct option is B which means through this transaction there is an increase in the stock or inventory and an increase in accounts payable also.
What is a Perpetual Inventory Method?Perpetual Inventory Method is a method of inventory valuation that records the transaction at the time when it occurs. A perpetual inventory system will record changes in inventory at the time the transaction occurs.
Thus, the value of inventory is increased by $6,500 along with that accounts payable are increased by such $6,500.
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1. What is the average annual return if someone invested 100% in bonds.
2. What is the average annual return if someone invested 100% in stocks
3. Calculate the range of potential annual returns if you invested 10% in bonds and 90% in stocks. How does this compare with the range of potential annual returns if you invested 10% in stocks and 90% bonds
4. Your friend tells you he is going to start investing and would like to earn a 10% return. He says stocks make him nervous, so he will only be investing 10% in stocks and the remaining 90% will be invested in bonds. What would you say to him?
5. Use evidence from this graph to explain the value of investing in both stocks and bonds- not just one or the other
Answers
The average annual return for investing 100% bonds and 100% stocks has been around 3-5% and 8-10% respectively. The range of 10% bond and 90% stock is wider as stocks are generally riskier than bonds. Investing solely in bonds not be sufficient to achieve a 10% return. Investing in Bonds can provide steady income, while stocks offer higher returns but also more risk.
The average annual return for investing 100% in bonds varies depending on the type of bonds and the current interest rates. Generally, bonds have a lower rate of return compared to stocks, so the average annual return would likely be around 3-5%.
The average annual return for investing 100% in stocks varies depending on the type of stocks and market conditions. Historically, the average annual return for stocks has been around 8-10%.
The range of potential annual returns for a portfolio with 10% bonds and 90% stocks would likely be wider than a portfolio with 10% stocks and 90% bonds. This is because stocks have a higher potential for both gains and losses compared to bonds, which are generally considered a more stable investment.
It's important to have a diversified portfolio that includes both stocks and bonds, as this can help reduce risk and increase potential returns over the long term. While stocks may be more volatile, they also have the potential for higher returns compared to bonds. A financial advisor can help determine the best asset allocation based on your friend's individual goals and risk tolerance.
Investing in both stocks and bonds can help balance risk and return in a portfolio. While stocks have the potential for higher returns, they also come with higher risk, while bonds offer stability and income.
By combining both types of investments, an investor can potentially increase returns while reducing overall risk. The graph may show the benefits of diversifying a portfolio and the importance of balancing risk and return.
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--The given question is incomplete, the complete question is given
" 1. What is the average annual return if someone invested 100% in bonds.
2. What is the average annual return if someone invested 100% in stocks
3. Calculate the range of potential annual returns if you invested 10% in bonds and 90% in stocks. How does this compare with the range of potential annual returns if you invested 10% in stocks and 90% bonds
4. Your friend tells you he is going to start investing and would like to earn a 10% return. He says stocks make him nervous, so he will only be investing 10% in stocks and the remaining 90% will be invested in bonds. What would you say to him?
5. Use evidence from this graph to explain the value of investing in both stocks and bonds- not just one or the other"--
Question 9
A wage is a specific amount of money paid per
Answers
Answer:
a wage is a specific amount of money paid per business day
Does the number of foreclosures in the early 2000s support the statement that the American Economy has a free financial system?
Answers
Answer:
The number of foreclosures in the early 2000s support the statement that the American Economy has a free financial system is explained below in detail.
Explanation:
Federal Reserve acquisitions of federal agency securities and mortgage-backed agreements have decreased mortgage interest valuations, advancing home-buying more affordable. The Federal Reserve emerged new laws for credit cards, contracts, and other financial outputs following the furrow of the financial crisis.
Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures
Answers
Answer:
Explanation:
Strict liability offenses:
1 impose liability on a defendant for the act of third parties.
2 dispense with the requirement of proof of any criminal intent on the part of the defendant.
3 are so classified because the punishments imposed on violators are especially harsh in comparison to the punishments for other criminal offenses.
4 require proof of some form of mens rea.
Answers
Strict liability offenses dispense with the requirement of proof of any criminal intent on the part of the defendant. The correct answer is option 2.
In these cases, it is not necessary to demonstrate men's rea or a guilty mind. Instead, the mere act of committing the offense is sufficient to impose liability, regardless of the defendant's intent or awareness.
Strict liability offenses dispense with the requirement of proof of any criminal intent on the part of the defendant. This means that the defendant can be held liable for committing the offense even if they did not intend to do so. However, it is important to note that strict liability offenses do not impose liability on a defendant for the actions of third parties and require some form of men's rea.
Additionally, while punishments for strict liability offenses may be harsh, this is not the reason for their classification as such.
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Which of the following statement is TRUE?
(1 Point)
Developmental programs improve conceptual skills of managers for the future job.
Training programs improve conceptual skills of nonmanagers for the future job.
Developmental programs improve technical skills of nonmanagers for the current job.
Training programs improve technical skills of mangers for the current job.
Answers
'Developmental programs improve conceptual skills of managers for the future job' is true. The right answer is a.
The goals and content of training and development are different from one another. While "development" refers to a long-term method through which managerial personnel understand conceptual and theoretical knowledge for broad reasons, "training" is a short-term process through which non-managerial personnel acquire technical knowledge and skills for a specific purpose.
Development covers the process through which managers and executives build capacity for both future managing roles as well as skills and competence for their current ones.
The correct answer is option a.
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On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $44,000 and $1,300, respectively. During 2022, Coolwear wrote off $775 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,100 at December 31, 2022. Bad debt expense for 2022 would be:
Answers
Answer: $3,575
Explanation:
Opening balance for Allowance for Noncollectable Accounts for 2022 is closing balance for 2021 = $1,300.
Cool wear wrote off $775 during the year which would come out of the allowance;
= 1,300 - 775
= $525
An allowance of $4,100 was determined for the year which means that the Bad debt expense is the difference between the determined allowance and the current balance because this is the amount that the account had to be increased by to cater for the bad debt expense.
= 4,100 - 525
= $3,575
Put in chronological order the events that take an economy from its original long-run equilibrium to a new long-run equilibrium.
a. Stock prices rise in the United States, increasing citizens’ real wealth.
b. Aggregate demand shifts to the right, increasing the price level in the short run.
c. Gradually, all prices in the economy adjust to the demand shift.
d. Short-run aggregate supply shifts to the left, returning to long-run equilibrium and a higher price level.
Answers
Answer:
b. Aggregate demand shifts to the right, increasing the price level in the short run.
a. Stock prices rise in the United States, increasing citizens’ real wealth.
d. Short-run aggregate supply shifts to the left, returning to long-run equilibrium and a higher price level.
c. Gradually, all prices in the economy adjust to the demand shift.
Explanation:
The above arranged statement are the chronological order of the events which takes an economy from its original long-run equilibrium to a new long-run equilibrium.
Please post detailed answers to the following questions. Please use complete sentences.
What product(s) do you use on a daily basis that includes warnings or information from a federal agency on the packaging? Share an example of a product and the information that is included. What federal agency do you think required the information? Why do you think they required the information to be included?
Answers
For example, a bottle of Neutrogena Ultra Sheer Dry-Touch Sunscreen SPF 100+ includes the following information on its packaging: "Apply liberally 15 minutes before sun exposure. Reapply: after 80 minutes of swimming or sweating, immediately after towel drying, at least every 2 hours." This information is required by the FDA to ensure that consumers use sunscreen correctly and effectively to protect their skin from the harmful effects of the sun.
The FDA requires this information to be included on sunscreen packaging to ensure that consumers are fully informed about the level of protection the product provides and how to use it effectively. Sunscreen is a consumer product that can have a significant impact on the health and safety of consumers, and the FDA's requirements help to ensure that consumers are able to make informed decisions abo
Which of the following is not a measure of central tendency?
Answers
Answer:
Standard deviation is not a measure of central tendency
Explanation:
Deviation means change or distance. But change is always followed by a reference. Hence standard deviation is a measure of change from central tendency i.e. mean. It is not itself a measure of central tendency.
Exercise 4-31 (Algo) Cost Flows; Applying Overhead [LO 4-3, 4-4, 4-5]
Erkens Company uses a job costing system with normal costing and applies factory overhead on the basis of machine hours. At the beginning of the year,
management estimated that the company would incur $1,596,000 of factory overhead costs and use 57,000 machine hours.
Erkens Company recorded the following events during the month of April:
a. Purchased 208,000 pounds of materials on account; the cost was $4.80 per pound.
b. Issued 134,000 pounds of materials to production, of which 22,000 pounds were used as indirect materials.
c. Incurred direct labor costs of $310,000 and $54,000 of indirect labor costs.
d. Recorded depreciation on equipment for the month, $78,500.
e. Recorded expired insurance costs for the manufacturing property, $4,900.
f. Paid $9,900 cash for utilities and other miscellaneous items for the manufacturing plant.
g. Completed Job H11 costing $8,900 and Job G28 costing $84,000 during the month and transferred them to the Finished goods inventory account.
h. Shipped Job G28 to the customer during the month. The job was invoiced at 35% above cost.
i. Used 10,500 machine hours during April.
Required:
1. Compute Erkens Company’s predetermined overhead rate for the year.
2. Prepare journal entries to record the events that occurred during April.
3-a. Compute the amount of overapplied or underapplied overhead.
3-b. Prepare a journal entry to close overapplied or underapplied overhead into cost of goods sold on April 30.
Answers
1. Erkens Company’s predetermined annual overhead rate is $28 per machine hour.
2. Journal Entries to record the events that occurred during April for Erkens Company are as follows:
Journal Entries:a. Debit Raw materials Inventory $998,400
Credit Accounts Payable $998,400
b. Debit Work in Process $643,200
Debit Factory Overhead $105,600
Credit Raw Materials $748,800
c. Debit Work in Process $310,000
Debit Factory Overhead $54,000
Credit Payroll Expenses $364,000
d. Debit Factory Overhead $78,500
Credit Depreciation Expenses $78,500
e. Debit Factory Overhead $4,900
Credit Insurance Expenses $4,900
f. Debit Factory Overhead $9,900
Credit Utility Expense $9,900
g. Debit Finished Goods Inventory $92,900
Credit Work in Process $92,900
h. Debit Accounts Receivable $113,400
Credit Sales Revenue $113,400
Debit Cost of goods sold $84,000
Credit Finished Goods Inventory $84,000
i. Debit Work in Process $294,000
Credit Factory Overhead $294,000
3-a) The amount of overapplied overhead is $41,100.
3-b) The journal entry to close overapplied overhead into the cost of goods sold on April 30 is as follows:
Journal Entry:Debit Factory Overhead (overapplied) $41,100
Credit Cost of goods sold $41,100
Data and Calculations:Estimated factory overhead costs = $1,596,000
Estimated machine hours = 57,000
Predetermined overhead rate = $28 ($1,596,000/57,000)
April Transactions:a. Raw materials Inventory $998,400 Accounts Payable $998,400
b. Work in Process $643,200 Factory Overhead $105,600 Raw Materials $748,800
c. Work in Process $310,000 Factory Overhead $54,000 Payroll Expenses $364,000
d. Factory Overhead $78,500 Depreciation Expenses $78,500
e. Factory Overhead $4,900 Insurance Expenses $4,900
f. Factory Overhead $9,900 Utility Expense $9,900
g. Finished Goods Inventory $92,900 Work in Process $92,900
Job G28 $8,900 Job G28 $84,000
h. Accounts Receivable $113,400 Sales Revenue $113,400
Cost of goods sold $84,000 Finished Goods Inventory $84,000
i. Work in Process $294,000 Factory Overhead $294,000
($28 x 10,500)
Factory Overhead account:Materials $105,600
Payroll $54,000
Depreciation Expenses $78,500
Insurance Expenses $4,900
Utility Expense $9,900
i. Work in Process $294,000
Total Overhead $252,900
Overapplied overhead $41,100
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Explain the procedure of inducting new technology on a given business
Answers
Explanation:
The following are basic steps generally used.
1. Identify the technological needs of the business: This could involve asking key stakeholders in the business organization about problems that can be solved or reduced by a particular technology.
2. Thoroughly explain the benefits of adopting the technology: This involves telling and convincing members of the organization about the importance, benefits, and features of the new technology.
3. Incubate training program for the technology:
4. Collect feedback from the users of the technology.
13. Returned faulty goods to YU Suppliers, R750. Record the transactions above to show the effect on the accounting equation: A OE L No Account debited Account credited
Answers
The accounting equation of the returned good can be adjusted as follows:
Assets = Liabilities + EquityNo change = No change - R750The accounting equation remains in balance, with no impact on assets, a decrease in equity of R750, and no impact on liabilities.
How do we record the transactions to show the effect on the accounting equation?Assuming that the transaction is recorded on a cash basis, the accounting equation can be represented as follows:
Assets = Liabilities + Equity
When faulty goods are returned to YU Suppliers for R750, the effect on the accounting equation can be recorded as follows:
Assets: There is no impact on assets, since the faulty goods have already been purchased and recorded as an expense.Liabilities: There is no impact on liabilities, since there is no outstanding balance owed to YU Suppliers.Equity: The equity account decreases by R750, since the return of faulty goods results in a reduction in the amount of expenses recorded.Read more about accounting equation
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define the meaning of an action plan
Answers
Answer:
a action plan is a detailed outlining actions needed to reach one or more goals
Propose your top three potential social causes for your organization and why your selected social cause or issue is a good match with your chosen corporation for creating a corporate social responsibility (CSR) campaign.
Answers
By selecting a social cause that aligns with their values and corporate goals, companies can create a CSR campaign that resonates with stakeholders and helps to build a positive reputation for their brand.
There are various social causes that companies may choose to support, depending on their corporate social responsibility goals. Here are the top three social causes that I would recommend for an organization, along with reasons why they are good matches for creating a CSR campaign:1. Environmental conservation: Protecting the environment and promoting sustainable practices is a social cause that has gained widespread attention in recent years.
As climate change continues to be a pressing issue, businesses that take a proactive approach to reducing their carbon footprint can establish themselves as responsible and sustainable entities. This is a good match for companies that have a large environmental impact, such as those in the manufacturing or transportation sectors. A CSR campaign focused on environmental conservation can include initiatives such as reducing waste, using renewable energy sources, and promoting eco-friendly practices among employees and customers.
2. Education: Investing in education is one of the most effective ways to support social development and empower individuals and communities. For companies that want to create a CSR campaign that has a tangible impact on people's lives, education is a great choice. This is especially relevant for companies that have a strong local presence and want to support the communities in which they operate. A CSR campaign focused on education can include initiatives such as donating educational resources to schools, providing scholarships to students, or organizing workshops and training programs for employees and community members.
3. Health and wellness: Promoting health and wellness is a social cause that has become increasingly relevant in light of the COVID-19 pandemic. Companies that prioritize the well-being of their employees and customers can create a positive image for themselves and build strong relationships with stakeholders. This is a good match for companies in the healthcare or hospitality sectors, as well as those that offer wellness-related products or services.
A CSR campaign focused on health and wellness can include initiatives such as promoting healthy lifestyles, providing access to healthcare services, or supporting mental health awareness and treatment programs.Overall, each of these social causes has the potential to create a meaningful and lasting impact, both for the company and the communities it serves.
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Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby’s sold the Edgar Degas bronze sculpture Petite Danseuse de Quartorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500. What was his annual rate of return on this sculpture?
Answers
Answer:
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby’s sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500.
Explanation:
Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.
July August September
Cash receipts $20,000 $26,000 $40,000
Cash payments 28,000 30,000 22,000
Required:
Prepare a cash budget for July, August, and September.
Answers
Answer:
Karim Corp
Cash Budget
July August September
Cash inflows: $20,000 $26,000 $40,000
Cash outflows: ($28,000) ($30,000) ($22,000)
Monthly cash flow: ($8,000) ($4,000) $18,000
Monthly interests: $0 ($76) ($116.76)
Initial cash balance: $8,400 $8,000 $8,000
Ending cash balance: $400 $3,924 $25,883.24
Required bank loan: $7,600 $4,076 $0
Payment of bank loan: $0 $0 ($11,676)
Total $8,000 $8,000 $14,207.24
Explanation:
A cash budget is the estimation of the business's future cash flows including estimated revenues and expenses.
What scenario shows the best time to "play it safe" in investing because the law of diminishing returns is against the investor?
A Your children are 5 and 3 and you are in middle management in your company and you have extra money to invest for college funds.Your children are 5 and 3 and you are in middle management in your company and you have extra money to invest for college funds.
B You are 65 and have retired from your career and are looking at a very long and happy life of traveling and good times.You are 65 and have retired from your career and are looking at a very long and happy life of traveling and good times.
C You are 5 years from retirement and your friend knows a "sure" investment that will more than triple your retirement account.You are 5 years from retirement and your friend knows a "sure" investment that will more than triple your retirement account.
D You just hit a big jackpot in Las Vegas and decide to put it all back into another game to double your return.
Answers
The scenario that shows the best time to "play it safe" in investing because the law of diminishing returns is against the investor is option D: You just hit a big jackpot in Las Vegas and decide to put it all back into another game to double your return.
In this scenario, the investor has already experienced a significant gain by hitting a big jackpot in Las Vegas. However, investing the entire amount back into another game with the intention of doubling the return poses a high level of risk. The law of diminishing returns suggests that as an investment or activity continues, the incremental return or benefit diminishes over time. By putting all the winnings back into another game, the investor is exposing themselves to unnecessary risk. Instead, it would be wiser to consider diversifying the investment portfolio, preserving a portion of the winnings, and adopting a more conservative approach. This helps to protect the gained wealth and potentially generate more stable, sustainable returns in the long run. Hence the correct answer in Option D. you just hit a big jackpot in Las Vegas and decide to put it all back into another game to double your return.
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This chapter is all about trade--imports and exports and the balance of payments.
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Please Help ASAP!
2. Identify at least three factors that may influence Eric's decision, including Eric's savings and any ways he could reduce the total cost of the loan.
Answers
The three factors that influence Eric's decisions are the lowest rate of return along with the shorter duration of time.
What is Loan?A Loan is referred to as the amount which an individual borrows from a financial institution at a certain rate of interest to start any business or to fulfill their needs.
When Applying for any loan it is important to conduct research about the rate of return which helps in saving a large rate of income for an individual.
While making a decision for a loan, it should be determined which financial institution provides maximum facility on any Loan in order to repay it timely and reduce the burden on an individual.
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12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.
Answers
1. Paid Office Station Co. for part of the debt incurred on April 5, $1,200.
Debit: Accounts Payable - Office Station Co.$1,200
Credit: Cash $1,200
2. Provided services on account, $4,200.
Debit: Accounts Receivable $4,200
Credit: Service Revenue $4,200
To pay off the remaining balance owing to Office Station Co., a debit is sent to the accounts payable account. To account for the cash outflow, the Cash account is credited. This journal entry records the settlement of a portion of the debt incurred on April 5 with Office Station Co.
The acknowledgment of revenue for services rendered to a client on the account is represented by this journal entry. To reflect the increase in the amount due by the client, the Accounts Receivable account is debited.
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The complete question is probably
Write journal entries
12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.
you are on vacation when your manager calls and asks for the password to your office computer because she needs immediate access to an important file. which of the following social engineering approaches is primarily being used?
Answers
Hackers can gain access to your systems through outdated software. They locate the software's weaknesses and come up with strategies for exploiting them.
Internet browsers and computer operating systems, which are used by everyone, are frequently the targets of software assaults. With the aid of a password manager, both people and organisations can store and manage all of their passwords in one secure strategies location. Users won't have to remember numerous passwords as a result. All they need to remember to access their password manager is their master password. physical protections such as a secure area with locked doors, etc. technical security measures such encryption, passwords, and security software.
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Minors are liable for the reasonable value of the necessary:______.
a. actually furnished.
b. that they agreed to purchase.
c. that their parents agreed to pay for.
d. all of these.
Answers
Answer:
b. that they agreed to purchase.
Explanation:
A minor is a person who is under the age of 18 and unable to make decision on his own such as mentally impaired or incompetent persons .
A minor cannot enter a contract like adults but if under any circumstance they enter into a contract of sale purchase of daily goods like clothing etc, they are liable to pay the price which they agreed to pay.
Their parents are liable only if the contract was made according to the parent's will etc.
If the minor is unable to pay the agreed amount then the minor should return the goods or fulfill any other liability as imposed by the court of law.
Glen, a CFO of a large corporation notes that the business’s current assets add up to $18,900. Additionally, there is a fleet of trucks which is listed as a $780,000 debit on the balance sheet (there is also $246,000 of accumulated depreciation). The only other asset is a building which is debited for $1,050,000 (104,000 of accumulated depreciation). The book value of the corporation’s shares is $920,000 while retained earnings currently have a $210,000 credit balance. How much, in total, does the corporation owe to banks, suppliers, and other parties?
Answers
Based on the company's assets and equity, the amount that it owes various stakeholders is $368,900
Amount owed by companyYou can find this using the accounting formula:
Assets = Liabilities + Equity
Expanding the formula gives:
Current assets + Book value of fixed assets = Liabilities + Book value of shares + Retained earnings
18,900 + (780,000 - 246,000) + (1,050,000 - 104,000) = Liabilities + 920,000 + 210,000
Liabilities = 8,900 + (780,000 - 246,000) + (1,050,000 - 104,000) - 920,000 - 210,000
= $368,900
In conclusion, liabilities are $368,900
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i need help in accounts
Answers
One reason why firms might want to pursue a strategic alliance strategy is to exploit
economies of scale. Exploiting economies of scale should reduce firm’s costs. Does this
mean that a firm pursuing an alliance strategy to exploit economies of scale is actually
pursuing a cost leadership strategy? Why or why not? Support your answer
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So, a strategic alliance may benefit the combined group in two ways: one, it will enable them to target larger clients without facing significant rivalry
Economies of scale, which are commonly assessed by the quantity of product provided per unit of time, seem to be the cost savings that businesses gain as a result of the significant scale of the economy.
In order to lower manufacturing costs, economies of scale is the method of producing any good at a very high volume. Strategic alliances allow two businesses to more effectively merge their operations.
It will enable them to lower costs through economies of scale. Additional benefits of economies of scale include lower prices for goods or cost focus in the marketplace.
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1. The product must be in a defective condition when the defendant sells it2. The defendant must normally be engaged in the business of selling that product3. The product must be unreasonably dangerous to the user or consumer because of its defective condition4. The plaintiff must incur physical harm to self or property by use or consumption of the product5. The defective condition must be the proximate cause of the injury or damage6. The goods must not have been substantially changed from the time the product was sold to the time the injury was sustained
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When the defendant sells the product, it must be in one of the following conditions: faulty condition, business of selling, unreasonable hazard, physical harm, proximate cause, or severely damaged.
A product is anything that can be supplied to a market to satiate the need or want of a client. In marketing, a product is an object, system, or service made accessible for consumer usage as of consumer demand. [1] Products are sometimes referred to as merchandise in the retail sector, and they are purchased as raw materials and then sold as finished things in the manufacturing sector. An additional category of goods is a service.
In project management, "products" are the formally defined project deliverables that make up or help deliver the project's objectives.
Sub-products, which are byproducts of production processes that are still useful, are a similar idea.
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