Ward Doering Auto Sales is considering offering a special service contract that will cover the total cost of any service work required on leased vehicles. From experience, the company manager estimates that yearly service costs are approximately normally distributed, with a mean of $150 and a standard deviation of $25.

a. If the company offers the service contract to customers for a yearly charge of $200, what is the probability that any one customer’s service costs will exceed the contract price of $200?

b. What is Ward’s expected profit per service contract?

Ethics values one person or group more than another.

The statement is true.

Ethics values are primarily based on motive instead of emotion. Ethics values one individual or institution extra than every other. Impartiality forces a person to balance self-interest with the hobbies of others. Commercial enterprise ethics are the ethical ideas utilized in making commercial enterprise selections.

Rule-primarily based Ethics values - in this style of reasoning, acts are both right or incorrect. As instance, telling the truth is always proper, and lying is usually wrong. In rule-primarily based ethics, suitable outcomes do no longer justify incorrect or terrible acts.

The gadget of moral and ethical ideals that courses the values, behaviors, and choices of a commercial enterprise organization and the individuals inside that company is referred to as commercial enterprise ethics. A few moral requirements for corporations are codified into law.

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The expected NPV of the project if postponed by one year is 58.9m.

When oil price is = 60 bbl

\([\frac{(60-25)*300000}{0.06} ]-50000000\\\\=175000000-50000000\\\\= 125000000\)

When oil price is 30bbl =

\([\frac{(30-25)*300000}{0.06}]-50000000\\\\25000000- 50000000\\\\= -25000000\)

This is negative so we have to reject it and put it at 0

\(\frac{0.5(0)+0.5(125000000)}{1.06}\)

= 58.9m

The expected NPV of the project if postponed by one year is 58.9m.

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Answer:

The correct answer is to put the two variables in the same type of measure.  

Explanation:

To begin with, in order to compare to different variables that are in different measures the correct way to proceed is to put them in the same measure so therefore they will be comparable with each other. Once said that, in this case the person should put the psychological benefits in economics benefits as it is the other variable and in order to do that the person should think of what aspects of his productivity would increase if he takes the vacations and gains the psychological benefits. For example, after getting back from the holidays he may feel himself less stress and more relax and therefore that he may be able to either do more job, more studies or more excercises and all that can impact in an economic way.

Answer:

Record it as a liability

Explanation:

If Maverick Incorporated can reasonably estimate warranty costs as 2% of total monitor sales each year, the company needs to record as per liability account for the lifetime warranty in its financial statements.

Accounts payable, wages and taxes are examples of current responsibilities, which are fully owed for continuing costs. Current obligations will also include costs on long-term debt due in the subsequent year.

Liabilities include things like -

a bank loan

a mortgage loan

Amount due to suppliers (accounts payable)

Settled wages

tax debt

Liabilities are listed on a corporation balance sheet. The entire number of liabilities must match the contrast between the total quantity of assets and the total quantity of equity, according to the accounting equation.

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Answer:

Producer goods are also known as capital goods and are used to produce goods and services for consumers. Examples of producer goods include machinery, buildings, and tools.

Consumer goods are the finished products that are sold to the end-user for consumption. Examples of consumer goods include food, clothing, and electronics.

Explanation:

Producer goods are also known as capital goods and are used to produce goods and services for consumers. Examples of producer goods include machinery, buildings, and tools.

Consumer goods are the finished products that are sold to the end-user for consumption. Examples of consumer goods include food, clothing, and electronics.

The correct answer is OD. Salaries and Wages Payable: $26,690 credit; Cash: $26,690 debit.

When recording the payment of salaries and wages, the journal entry will involve debiting (increasing) the Cash account and crediting (decreasing) the Salaries and Wages Payable account.

In this case, the total current period earnings of $35,600 represents the amount owed to employees for their wages, which is a liability. Since the payment is being made, the Salaries and Wages Payable account will be credited for the same amount, $35,600. On the other hand, the Cash account will be debited for the amount actually paid, which is $8,910 (representing the net payment after withholdings and deductions).

Therefore, the correct journal entry would be:

Salaries and Wages Payable: $26,690 credit

Cash: $26,690 debit

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It is true that mindfulness is evidence based and false that it is exotic.

Mindfulness. It's an easy term to understand. It implies that the mind is entirely focused on what is taking place, what you are doing, and the environment you are moving through. That might sound insignificant, but it annoys me that we frequently stray from the topic at hand. When our mind wanders, we get disconnected from our physical selves and quickly become preoccupied with compulsive thoughts about the past or worry about the future. And it stresses us out.

However, awareness is always present to bring us back to where we are, what we are doing, and how we are feeling, no matter how far we go. It's great to give mindfulness a go for a time if you want to understand what it is. You will discover tiny variances in the meaning in books, online, audio, and video since it's difficult to put into words.

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The fast food industry in South Africa can be classified as an oligopoly market structure.

In the short run, a profit-maximizing oligopoly firm in the fast food industry will operate where marginal revenue (MR) equals marginal cost (MC). The firm's demand curve is downward sloping, indicating that it can increase its profits by lowering its price and increasing its output. However, because the industry is oligopolistic, a firm's price and output decisions can affect its competitors' profits.

In the long run, the entry of new firms into the market is limited due to high barriers to entry. The existing firms can earn economic profits in the long run. The threat of potential new entrants can prevent firms from charging excessively high prices. In the long run, a profit-maximizing oligopoly firm will operate where price equals average total cost (ATC).

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The complete question is :

In light of the information presented above, identify and discuss the characteristics of the market structure that fits the fast food industry in South Africa. Explain the short and long-run profit maximization of this particular market structure.

Answer:

Purchases a/c dr 20000

To cash a/c 15000

To Ram's a/c 5000

Answer:

violates ethical, but not legal, standards.

Explanation:

Sherman act was created to prohibit restrains on trade of any collusion by different parties to form a monopoly or control price.

The act does not however prohibit all restraints of trade, bit rather those that are very unreasonable and harmful to competition.

In the given scenario the three companies only agreed to bid lowest for the 3 project under consideration.

Their action does not give them unfair advantage over other firms and may even lead to a loss on their part.

They do not have a strategy that will guarantee an edge over other firms.

So this is an ethical violation but not a legal one.

This process which involves design thinking is important because it helps someone to effectively empathize and also to solve problems.

This refers to the different processes of trying to logically and empathetically understand problems and people and give solutions.

With this in mind, we can see that this design thinking has five stages which includes:

Please note that your question is incomplete so I gave you a general overview so that you can get a better understanding of the concept.

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When creating a budget people should Record everything that they spend and what they spend it on. The appropriate response is option A.

A budget is an estimate of income and expenditures for a given future period of time, and it is often created and updated on a regular basis. A individual, a group of people, a corporation, a government, or pretty much anything else that makes and spends money can all have budgets.

Budgeting is essential if you want to control your monthly spending, be ready for life's unforeseen events, not  falling into debt. Monitoring your income and expenses is a crucial component of budgeting.

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Unions are organizations that represent workers in a particular industry or profession. Their primary goal is to protect the rights and interests of workers by negotiating better wages, benefits, and working conditions.

Unions are organizations formed by workers to protect their interests and rights in the workplace. They advocate for collective bargaining, fair wages and benefits, workplace safety, non-discrimination, job security, training and education, and political advocacy.

Labor laws are laws that govern the relationship between employers and employees in the workplace. Examples include minimum wage laws, overtime laws, anti-discrimination laws, health and safety laws, leave laws, unionization laws, and employment contract laws. These laws govern the rights of employees to form and join unions and establish the legal requirements for collective bargaining.

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What are unions? What are their roles and policies?

1. Robert's qualified business income is $305,000.

This is because Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business.

During the current year, ABC has net income of $305,000 after deducting Robert's $91,500 salary. In addition to his compensation, ABC pays Robert dividends of $213,500.

If Robert's experience and responsibilities are valued at $213,500, then his qualified business income would also be $213,500.

Robert's income of $91,500 falls under the category of reasonable compensation, and hence, he will not have to pay any self-employment tax.

If Robert's skills and obligations justify a fair salary of $91,500, his eligible business earnings would amount to $123,000. Robert's salary of $91,500 would be viewed as justifiable remuneration and therefore exempt from self-employment tax.

The sum of $213,500 that Robert obtained from ABC as dividends would be liable to the self-employment tax.

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The various system for the internal administration of financial organizations includes accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.

Internal administration systems for financial organizations are systems that oversee the internal functioning of the financial organizations and their staff. They enable businesses to establish and follow specific procedures that ensure their operations are stable, transparent, and responsible.

Here are some of the various systems for internal administration for financial organizations:

1. Accounting systems: Accounting systems are essential to ensure the accuracy of financial transactions and the reliability of financial statements. The accounting system should provide information about the current financial status of the organization and account for all income and expenses.

2. Budgeting systems: Financial organizations use budgeting systems to allocate resources and plan expenditures. This system can be used to control the financial performance of a department, project, or organization.

3. Internal controls: Internal controls are the procedures, policies, and activities that help an organization to maintain the integrity of its operations and prevent fraud. The effectiveness of these controls depends on how well they are implemented.

4. Performance management systems: Performance management systems are used to ensure that the goals of an organization are achieved. This system can be used to monitor and evaluate employee performance, provide feedback, and manage employee development.

5. Risk management systems: Risk management systems help financial organizations to identify and manage risks. They can be used to assess the risk associated with various activities and develop strategies to mitigate those risks.

6. Compliance management systems: Compliance management systems help financial organizations ensure that they are following all relevant regulations and laws. They can be used to monitor compliance with internal policies and procedures as well as external regulations.

In conclusion, internal administration systems for financial organizations are essential for ensuring the stability and transparency of financial operations. These systems include accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.

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The marginal product of each worker for Magnificent Blooms is as follows: Worker 0: N/A: Worker 1: 5: Worker 2: 4: Worker 3: 3: Worker 4: 2: Worker 5: 1

To calculate the marginal product of each worker for Magnificent Blooms, we need to determine the change in the quantity of floral arrangements resulting from each additional worker.

Here's how to calculate the marginal product for each worker:

Worker 0: Since there are no workers (0 workers), the quantity of floral arrangements is 0. Therefore, the marginal product for worker 0 cannot be calculated.

Worker 1: The quantity of floral arrangements with 1 worker is 5. To calculate the marginal product for worker 1, we subtract the quantity of floral arrangements with 0 workers from the quantity with 1 worker: 5 - 0 = 5.

Worker 2: The quantity of floral arrangements with 2 workers is 9. To calculate the marginal product for worker 2, we subtract the quantity of floral arrangements with 1 worker from the quantity with 2 workers: 9 - 5 = 4.

Worker 3: The quantity of floral arrangements with 3 workers is 12. To calculate the marginal product for worker 3, we subtract the quantity of floral arrangements with 2 workers from the quantity with 3 workers: 12 - 9 = 3.

Worker 4: The quantity of floral arrangements with 4 workers is 14. To calculate the marginal product for worker 4, we subtract the quantity of floral arrangements with 3 workers from the quantity with 4 workers: 14 - 12 = 2.

Worker 5: The quantity of floral arrangements with 5 workers is 15. To calculate the marginal product for worker 5, we subtract the quantity of floral arrangements with 4 workers from the quantity with 5 workers: 15 - 14 = 1.

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Answer:

C. Sous chef. Hope this helps!

Yes. Accounting courses I took before helps us understand how to make cash budget and pro forma income statement and balance sheet.

Here's how accounting courses can help individuals in creating cash budgets, pro forma income statements, and balance sheets:

By studying accounting, individuals gain a solid foundation in financial concepts, reporting standards, and analytical techniques. This knowledge equips them with the skills necessary to create cash budgets, pro forma income statements, and balance sheets effectively.

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Answer:

fall is the answer for both blanks

The cost of the subsidy program for the representative consumer would be $6.

In this scenario, we have a government subsidy program that reduces the price of food for poor consumers from $3 per unit to $2 per unit. The typical poor consumer has a budget of $12 and faces a price of $1 for all other goods (AOG).

To determine the cost of the subsidy program for the representative consumer, we need to consider the quantity of food that the consumer can purchase before and after the subsidy.

Before the subsidy:

With a budget of $12 and food priced at $3 per unit, the consumer can afford to purchase $12 / $3 = 4 units of food.

After the subsidy:

With the subsidy reducing the price of food to $2 per unit, the consumer can now purchase $12 / $2 = 6 units of food.

The difference in the quantity of food purchased before and after the subsidy is 6 - 4 = 2 units.

To calculate the cost of the subsidy program, we multiply the additional quantity of food (2 units) by the original price of food ($3 per unit):

Cost of the subsidy = 2 units * $3 per unit = $6.

Therefore, the cost of the subsidy program for the representative consumer would be $6.

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Answer:

so they can end up spending less on interest payments and credit card fees.

Explanation:

Answer:

a.) Self-conscious

Explanation:

Explanation:

sales forecast for Daft is 506 units. Digby wants to have an extra 10% of units on hand above and beyond their forecast in case sales are better than expected. (They would risk the possibility of excess inventory carrying charges rather than risk lost profits on a stock out.) Taking current inventory into account, what will Daft's Production After Adjustment have to be in order to have a 10% reserve of units available

In order to make the online musical instruments store more popular and desirable in the market, Ben can:

1. Build a strong brand: Ben can invest in creating a strong and unique brand for his store.

This can include creating a catchy logo and slogan, using consistent colors and fonts across all products, and creating a unique brand voice that resonates with your target audience.

2. Build a sense of community: Ben can build a community around his store by hosting events and workshops that bring musicians and music lovers together. It can also create social media groups and forums where customers can share their knowledge and connect with like-minded people.

3.Overall, with a focus on offering unique products, building a strong brand, creating a sense of community, providing excellent customer service, and having a good understanding, Ben can do his online shopping for rare vehicles and find a company.

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The functions of government are crucial for the proper functioning and development of a country. These functions can vary depending on the type of government system in place, but there are several key functions that are commonly considered necessary for a country's stability and progress.

1. Legislation and Governance: One of the primary functions of government is to create and enforce laws that maintain order, protect individual rights, and promote the welfare of the citizens. Governments establish institutions and frameworks for governance, ensuring the rule of law and providing a system of justice.

2. Defense and Security: Governments are responsible for safeguarding the country and its citizens from external threats. This involves maintaining armed forces, intelligence agencies, and diplomatic relations to protect national security interests.

3. Economic Management: Governments play a crucial role in managing and regulating the economy. They establish fiscal and monetary policies, oversee financial institutions, promote trade, and create an environment that supports economic growth and stability. Government intervention is often necessary to address market failures, promote fair competition, and protect consumers.

4. Social Welfare: Governments have a responsibility to ensure the well-being and social welfare of their citizens. This includes providing basic services such as healthcare, education, social security, and infrastructure development. Governments also implement social policies to address poverty, inequality, and promote equal opportunities.

5. Public Services: Governments are responsible for delivering essential public services, such as transportation, utilities, public safety, and environmental protection. These services are necessary for the functioning of society and improving the quality of life for citizens.

6. Diplomacy and International Relations: Governments engage in diplomatic activities and maintain relationships with other nations. They negotiate treaties, participate in international organizations, and represent the country's interests abroad. Governments also address global challenges, such as climate change and human rights, through international cooperation.

7. Public Communication and Information: Governments have a role in providing transparent and accurate information to the public. They engage in public communication, disseminate information, and promote citizen engagement and participation in the decision-making process.

These functions of government are essential for maintaining social order, promoting economic growth, protecting citizens' rights, and ensuring the overall well-being of a country. Effective governance requires a balance between these functions, adaptability to changing circumstances, and responsiveness to the needs and aspirations of the citizens.

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The arithmetic average return that Regina Computer stock saw on its returns over the five years was 11. 6 %

The variance of the returns over the period was 320.3, and the standard deviation was 17.9 %

The arithmetic mean on returns can be found by summing up all the returns and then dividing this by the number of returns.

The  arithmetic mean to Regina stock in the five year period was therefore:

= (7 % + - 12% + 11 % + 38 % + 14 % ) / 5

= 58 % / 5

= 11. 6 %

Using this mean, the variance can be found on a spreadsheet to be 320.3.

The standard deviation is the square root of variance so the standard deviation of Regina Computer stock in the past 5 years is:

= √ Variance

= √ 320.3

= 17.89

= 17.9 %

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Answer:The answer is C

Explanation: just took the quiz

Trade barrier can hurt a country's economy by  reducing its overall economic efficiency. Thus, option C is correct.

Trade barrier consists of various policies and reforms on international trading that is applied by the government to protect the country.

Implementation of trade barrier results in reduction of  overall economic efficiency and growth as the business may face various problems while importing or exporting good and services.

Trade barriers create problem when it comes to international trading with various restrictions which results in reduction in overall efficiency. Therefore, C is the correct option.

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Answer: $4400

Explanation:

The proper amount of expenses to be included in the income statement for the year will be calculated as:

Commissions for salespeople who made sales in December = $3000

Add: Phone bill = $400

Add: Advertisement = $1000

Total expense = $3000 + $400 + $1000 = $4400

N.B: The commission and telephone charge were incurred in December 2019 and should be added.

The store rent of $2,000 for January 2020 was paid on December 28, 2019. This won't be added since it was for 2020.

Advertisiment of $1,500 was paid for November 2019, December 2019 and January 2020. We are concerned with that of November and December 2019. This will be: $1500 × 2/3 = $1000

The information for preparing a trial balance on a work sheet is obtained from the general ledger accounts.

A trial balance is said to be prepared by using the amounts in the company's general ledger accounts which considers each of the company's ledgers accounts and as well as it tends to include their amounts which is in the total calculation of the trial balance.

So, this Ledger account will tend to include debit or credit amount as per the balance. Thus, the trial balance is said to be prepared after the transactions are first recorded in the journal and then they are subsequently posted in the general ledger.

Hence, trial balance is a part of the accounting process.

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