The highest price a buyer is ready and able to pay for the commodity is $80 if the surplus of consumers is $30 and the price paid for the good is $50.
More about consumers' surplus:
Consumer surplus is a financial estimate of the benefits that consumers receive from market competition. Consumer surplus occurs when consumers pay less for a commodity or service than they would be willing to. In economics, the consumer surplus is the difference between the price a consumer pays for a good and the amount he would be prepared to pay rather than go without it.
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What is the present value of the following payment stream, discounted at 8 nnually: $1,000 at the end of year 1, $2,000 at the end of year 2, and $3,000 at the end of year 3?
The present value of the following payment stream:
PV = $1,000/1.08 + $2,000/1.082 + $3,000/1.083
PV = $5,022.10
Present value (PV) is the contemporary value of a future amount of money or stream of coins flows given a particular rate of go back. Present value takes the destiny value and applies a reduction rate or the interest rate that would be earned if invested.
How do you decide present value?
The present value method is PV=FV/(1+i)n, in which you divide the future price FV with the aid of a thing of 1 + I for every length between gift and future dates. Input these numbers within the present value calculator for the PV calculation: The destiny price sum FV. Quantity of time durations (years) t, that is n within the components.
Why is present value important?
Present value is essential because it lets in buyers to examine values over time. PV can assist traders examine future economic advantages of current assets or liabilities used in areas like monetary modeling, inventory valuation, and bond pricing, primarily based on its destiny returns, traders can calculate present value.
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An increase in the riskiness of corporate bonds will ________ the yield on corporate bonds and ________ the yield on treasury securities, everything else held constant.
The answers are - increase and reduce.
Corporate bonds deliver higher yields than some different fixed-income investment options, but for a price in terms of counted risk. Most corporate bonds are debentures, indicating they are not assured by a collateral. Investors in such bonds must handle not only interest rate risk but also credit risk, the possibility that the corporate issuer will default on its obligation.
Therefore, it is important that corporate bond investors know how to assess credit risk and its potential returns. And while increasing interest rate activities can decrease the value of your bond investment, a default can practically destroy it. Holders of defaulted bonds can recover some of their principal, but it's often pennies on the dollar. The preliminary risks related to corporate bonds are credit risk, interest rate risk, and market risk. In addition, some corporate bonds may be called for redemption by the issuer, and their principal payment may be made before the maturity date.
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An increase in the riskiness of corporate bonds will increase the yield on corporate bonds and reduce the yield on treasury securities, everything else held constant.
Compared to certain other fixed-income investment options, corporate bonds offer higher returns, but at a cost in terms of added risk. The majority of corporate bonds are debentures, which means they are not guaranteed by any kind of asset. Investors in these bonds must manage both interest rate risk and credit risk, or the chance that the business issuer will stop making payments on the bond.
Investors in corporate bonds should therefore understand how to evaluate credit risk and its possible rewards. Additionally, while actions to raise interest rates may reduce the value of your bond investment, a default may almost wipe it out. Bondholders can recoup part of their capital, although it's typically only pennies on the dollar. Credit risk, interest rate risk, and market risk are the initial concerns associated with corporate bonds. Additionally, the issuer may call for the redemption of some corporate bonds, and the principal may be paid before the bonds' maturity date.
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Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from d1 to d2. the amount of the tax paid by the consumer is:__________
The government levies a $3 tax on buyers, causing the demand curve to change from d1 to d2. The tax paid by the consumer is $5.
Demand Curve:
A demand curve is a graph that depicts the relationship between the price of a commodity (the y-axis) and the quantity desired at that price (the x-axis). Demand curves can be used to model the price-quantity connection for a single consumer (an individual demand curve) or for all consumers in a given market (a market demand curve). Demand curves are often believed to slope downward, as illustrated in the next illustration. This is due to the law of demand, which states that when the price of a commodity rises, the quantity required decreases.
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the total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is .
The total cost of skipping practice and going to the movies (including the opportunity cost of time) for this assistant coach is equal to $24.
Given the following data:
Admission fee = $9.
Earnings = $15 per hour.
What is an opportunity cost?An opportunity cost is also referred to as alternative forgone and it can be defined as the value, profit, or benefits that are given up and forfeited by an individual or business firm, in order to choose or acquire something that is deemed most significant at a particular point in time.
How to determine the total cost?The total cost of skipping practice and going to the movies (including the opportunity cost of time) for this assistant coach can be calculated by using this formula:
Total cost = Earnings + Admission fee
Total cost = $15 + $9
Total cost = $24.
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Complete Question:
You work as an assistant coach on the university swim team and earn $15 per hour. One day, you decide to skip the hour-long practice and, instead, go to the movie theater, which has an admission fee of $9. What is the total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time)?
suppose the advancement of computers has decreased the productivity of a paper mill. this will likely cause the supply curve for paper.
Based on the decrease in productivity of the paper mill, the likely effect is that the supply curve of paper will see a leftward shift.
What happens to the supply curve when productivity decreases?When there is a decrease in productivity, it means that the quantity of goods and services that are being produced will reduce.
If the productivity of paper mills decrease therefore, the amount of paper produced will decrease which will mean a leftward shift in the supply curve of paper.
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be 2.3 discuss whether the changes described in each of the cases below require recognition in the cpa’s audit report as to consistency. (assume that the amounts are material.
(A) A change in the way the accounting rules are applied has an impact on the financial statements' consistency and, as a result, their comparability if the company changes the way it values its inventory. The modification must be discussed in an explanatory paragraph in the auditor's report.
(b) The CPA's audit report does not need to contain a comment regarding consistency if the company sold one of its two subsidiaries that had been included in its consolidated statements for prior years. Although no accounting concept was altered or the way by which it was applied, a business transaction has affected how the financial statements are comparable.
(c) The comparability of the financial statements has been impacted if the company reduced the projected remaining useful life of plant property due to obsolescence. The adjustment is not a question of consistency; instead, it is a change in accounting estimate necessitated by new circumstances and includes neither a difference in the accounting principles used consistency.
What is CPA?A credentialed accounting practitioner may use the title "certified public accountant" (CPA). The Board of Accountancy for each state issues the CPA license.
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The complete question is:
BE2-3 Discuss whether the changes described in each of the cases below require recognition in the CPA's audit report as to consistency. (Assume that the amounts are material.)
(a) The company changed its inventory method to FIFO from weighted-average, which had been used in prior years.
(b) The company disposed of one of the two subsidiaries that had been included in its consolidated statements for prior years.
(c) The estimated remaining useful life of plant property was reduced because of obsolescence.
Real gains in productivity require innovations to ____.
a. human practices
b. business practices
c. corporate process
d. business politics
Real gains in productivity require innovations to business practices.
Any strategy or action used by a company to accomplish its goals. Making money is a business's ultimate goal. Business procedures are how it makes an effort to do so in the most economical way possible.
Business Practice Improvement (BPI) conducts research and analytics to simplify and reduce redundancies in order to give outcome-based, data-driven solutions to business processes and complicated problems.We provide a special fusion of corporate experience akin to consulting with knowledge of and insight into collegiate culture.Finding and using the best operational strategies to accomplish your business goals is a best business practice. The procedure entails keeping up with the most recent operational trends of prosperous organizations and contrasting them with your methods of managing the same operations.Using best practices in business entails studying how other organizations have managed different company processes. Benchmarking is the most popular method for accomplishing this. It enables you to compare your organization to other successful enterprises and identify opportunities for improvement.To learn more about business practices visit:https://brainly.com/question/6459332
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Emergency funds are important because they ____________. a. earn interest, making it unnecessary to work. b. are available when they are most needed, such as after a job loss. c. make it possible to pay monthly bills. d. keep money separated so that the balance will not change. please select the best answer from the choices provided a b c d
Answer: b. are available when they are most needed, such as after a job loss.
Explanation: it makes the most sense
Answer:
B) are available when they are most needed, such as after a job loss.
Explanation:
Compensation made by the payment of money or the return of property, thus clearing a lien from the record, is known as?
Compensation made by the payment of money or the return of the property, thus clearing a lien from the record, is known as judgment compensation.
Financial compensation refers to the act of giving money or other things of economic value to a person in exchange for goods, labor, or the cost of an injury sustained. The definition of compensation is something of value given in exchange for something else. An example of compensation is the money a company pays its employees for their work. If a person is in a car accident and injures someone, money paid to the injured victim for the damage is an example of compensation.
Compensation is the combination of salary, wages, and benefits an employee receives for performing a particular job. This may include annual or hourly wages combined with bonuses, benefits, and incentives. Compensation is the sum of cash and in-kind benefits you give to your employees in exchange for the work they do for your company.
Disclaimer:- your question is incomplete, please see below for the complete question.
a. abstract of title.
b. satisfaction of the judgment.
c. judgment compensation.
d. dismissal of attachment.
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What do financial planning skills ultimately enable an individual to do?
to prepare for the future
to process their own tax returns
to stop spending
to become wealthier without saving money
Financial planning skills ultimately enables an individual: A. to prepare for the future.
What is the planning gap?The planning gap can be defined as the gap that typically exist between "where we are now?" and "where we want to be?"
Basically, "where are we now?" describes the current situation of things or financial and non-financial activities that a business firm currently holds. On the other hand, "where we want to be?" is a vision and mission statement that focuses on achieving the goals and objectives set for a business firm.
What are financial planning skills?Financial planning skills can be defined as the ability of an individual to determine the most appropriate (best) financing and investing activities for himself or herself, or a business firm after evaluating all available options.
In this context, we can reasonably infer and logically deduce that financial planning skills ultimately enables an individual to prepare and plan for the future.
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The section of the business plan in which the entrepreneur identifies changes occurring on the national and international level is the?
The section of the business plan in which the entrepreneur identifies changes occurring on the national and international level is the Environmental and industry analysis.
What is a business plan?A business plan is a formal written document that outlines the objectives of the company, how those objectives will be attained, and when they will be accomplished. The nature of the company, background information on the organization, financial estimates for the organization, and the techniques the organization plans to use to meet the stated goals are also covered. This document functions as a road map (a plan) that gives the company direction when taken as a whole.
Written business plans are frequently necessary in order to apply for a bank loan or another type of financing. Using templates and guidance, like those offered by the Small Business Administration in the United States, can make it easier to create a business plan.
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henry is a 30 year old father of three children he has had difficulty finding and keeping employment
a. Due to a lack of insurance, treatment cannot be refused. Since there are therapeutic programs available to aid with financial requirements, housing, etc., Henry would be able to receive treatment in a community health facility and social services should be able to help him with basic essentials and personal needs.
b. I believe that the patient's mental disorder would be difficult to treat since he lacks the fundamentals, in accordance with Maslow's hierarchy of requirements (water, food, shelter,etc)
c. Henry's fundamental or personal needs (food, shelter, etc.) should be met, and his treatment plan should be followed.
The goal of therapeutic programs are kind of treatments used to assist young adults in the contemporary environment. They provide a friendly setting where personal abilities can develop and distractions are minimized.
Henry is a 34-year-old father of three children. He has had difficulty finding and keeping employment because of chronic alcoholism and marijuana use. His substance abuse issues have strained his marriage, and he is currently separated from his wife and children. The bank has foreclosed on his mortgage, and he is now homeless. During the past year, Henry has become despondent and delusional.
a. What resources would be available for a homeless mentally ill client without health insurance or financial resources to meet basic needs?
b. What are the barriers to providing care for the homeless individual with mental illness?
c. What is the coordinating role of the psychiatric nurse case manager in the discharge planning phase of care for Henry?
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dée trader opens a brokerage account and purchases 300 shares of internet dreams at $40 per share. she borrows $4,000 from her broker to help pay for the purchase. the interest rate on the loan is 8%. (
Dee's margin is the initial purchase price less the $4,000 borrowed, and $8,000 total. The price of the stock is $40 divided by 300 shares, or $12,000 total. Given that $4,000 was borrowed from the broker. Subtract your margin requirement from the value of your collateral to determine it.
When a security's price increases or decreases, the gain or loss is proportionally much bigger to the real investment amount.
The collateral you keep in your brokerage account above the minimum margin required is known as remaining margin. Consider the following scenario: You wish to short 100 shares of Corp. X, which are now trading at $20 each.
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3. liabilities and net worth recall that the balance sheet equation states that net worth equals total assets minus total liabilities. identifying assets and recording them is one of the first steps in balance sheet preparation. in some instances, assets are acquired with cash. in others, often large purchases, they are acquired by securing debt (for example, a bank loan or a department store charge). regardless of how an asset is acquired, items purchased through financing have associated debt which is owed by you and must be repaid in the future. these items, orliabilities , are generally classified according to maturity. check the category to which each of the items belong. current liability long-term liability a 24-month home improvement loan from origination, 36-month automobile loan water bill car insurance outstanding principal on a second home, not due in the current year
The relationship between the three items on a balance sheet—assets, liabilities, and equity—is depicted by the accounting equation.
What is equity?The performing arts and entertainment sectors are represented by Equity, originally known as the British Actors' Equity Association.
The union was founded in 1930 by a group of West End actors, and it expanded to encompass actors and stage managers across the country as well as acquiring recognition in radio, cinema, and television. The majority of professionals whose work is seen on screen are currently represented by Equity, which merged the Variety Artistes' Federation in 1967.
Actors, singers, models, performers, directors, choreographers, designers, and stage managers were among its around 46,000 members as of the year 2020.
To prevent confusion with other artists and performers, Equity mandates that each member have a distinct professional name.
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Why does the uit selling proce increase when expected volume is lower than budgeted volume?
The unit selling price increase when the expected volume is lower than the budgeted volume because fixed costs and desired ROI have to be spread over fewer units.
It's important to calculate your selling price because it permits you to reveal traits and make predictions at the marketplace. If you are a start-up manufacturer, it may be a wonderful manner to decide a pricing strategy.
to Calculate Selling Price Per Unit. Determine the overall price of all devices bought. Divide the overall price by the number of devices bought to get the price fee. Use the promoting fee system to calculate the very last fee: Selling Price = Cost Price + Profit Margin.
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What happens to the supply curve when any of the following determinants change? indicate whether each of these determinants causes a shift of the supply curve or a movement along the curve.
Changes in the determinants will result in a shift in the supply curve. A shift in supply refers to a shift in the supply curve due to the influence of supply shifters. In contrast, a shift in quantity supplied is the movement along the supply curve because of a change in the price of a good, keeping other factors unchanging.
The supply curve shifts forward if there is a growth in supply. This may be due to technological progress, an increase in the number of sellers, a reduction in input prices, the expectation of lower prices for the future, lower prices of other goods, or the provision of subsidies. A supply curve shifts rearwards if there is a reduction in supply. This may be due to technological deterioration, reduction in the number of sellers, increase in input prices, higher price expectations for the future, higher prices of other goods, or the imposition of taxes.
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you go to an all-you-can-eat buffet. once you pay the price to enter the buffet, you can fill your plate as much as you want at no additional cost. if you maximize utility, the marginal utility of the last bite that you eat will be: a less than zero. b equal to zero. c equal to the price of the buffet. d as high as possible. e dependent on how much you like the buffet.
The final mouthful you consume will have a marginal utility of ZERO. Marginal utility, which is measured in utils, is the additional pleasure obtained after consuming one additional unit of an item or service.
The Right Response is Option bAlfred Marshall's lawTotal utility is maximised when marginal utility is zero. When the total utility begins to drop, the marginal utility goes negative.According to Alfred Marshall's law of decreasing marginal utility, the utility obtained must decrease as more and more units of an item are used.The marginal utility obtained from the most recent bite would be 0 if utility is maximised in the case.To Learn more about marginal utility Click the links.
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From whom to buy from and ________ to buy are the two choices left for a consumer once she has made the decision on an alternative
From whom to buy and when to buy are the two choices left for a consumer once she has made the decision on the alternative.
While purchasing a long-term product, the consumers always go through a lot of research and check out various alternatives at better prices and better effectiveness.
If a person chooses the product or the alternative product with better facilities, one needs to decide when to buy the product and from whom.
The supplier is important for things like guarantees and service works if the product gets damaged within the guaranteed period.
When to buy is also an important decision. This depends on the financial condition of the buyer. If the person can afford it immediately, she can buy it at that moment or wait for a few days to gather up the finances and pay for the product.
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cute camel woodcraft company’s income statement reports data for its first year of operation. the firm’s ceo would like sales to increase by 25% next year.
Sales for Cute Camel are anticipated to rise from $20,000,000 in Year 1 to $25,000,000 in Year 2, or $20,000,000 x (1 + 0.25). The amount of operating expenses should rise together with the volume of goods and services produced and sold.
More about operating expenses:
An expense a business faces as a result of ongoing operations is referred to as an operating expense. Operating expenses, which are frequently referred to as OPEX, include rent, tools, inventory costs, marketing, payroll, insurance, step charges, and money set aside for R&D before sales.
The total of a company's running costs during a given time period, like a month or a year, is what is referred to as "operating expenses" on an income statement.
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Negotiated contract buying means agreeing to contracts that allow for changes in the purchase arrangements. true false
Negotiated contract purchase means agreeing to a contract that allows changes in purchasing arrangements is a true statement.
Negotiation is an interactive process undertaken to reach an agreement. This process involves two or more people who have different views but want to reach some common resolution. Negotiation Requirements To carry out the negotiation process there are at least 2 things that must be possessed, namely: It is carried out with a minimum of 2 or more people.
The following are the objectives of the negotiation, namely:
Reach mutual agreementReducing portion differences and conflicts on each sideUnite all opinions so that it can benefit both parties or more in the negotiation (achieve a win-win solution)Overcoming or adjusting differences to get something from the other party without being forcedYou can learn more about negotiation here brainly.com/question/9312091
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shannon needs to make some house repairs in three years that will cost $9,000. she has some money in an account earning 9% annual interest. how much money needs to be in the account today so she will have enough to pay for the repairs?
Shannon needs about $6950 to be in that account, so she will have enough to pay for the repairs.
The earnings can be calculated using the following calculation as the account has a 9% annual interest rate:
Where M is the total sum, C is the starting sum, r is the interest rate, and t is the amount of time, in years, that has passed.
She requires the funds in 3 years. Thus t = 3. Using this in relation to the issue we face, She requires about $6950 to be in that account.
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a cashier has a total of 128 bills, made up of fives and tens. the total value of the money is $800. how many ten-dollar bills does the cashier have?
The cashier has 32 ten-dollar bills out of the total sum of 128 bills, made up of fives and tens.
Who is the cashier?In businesses that are based in retail, cashiers perform numerous essential tasks. They are in charge of processing payments, accepting payments, and providing clients with receipts as they depart with their items. While delivering exceptional customer service, cashiers also manage additional required stuff like coupons. In retail-based establishments, cashiers are in charge of processing and accepting payments. Working the cash register is just one of the responsibilities of a cashier (processing payments, issuing receipts) Customers are greeted and assisted with any queries they may have. A bank cashier, also known as a bank teller, assists customers directly and responds to their problems. They must receive clients, open and close accounts, handle deposits and withdrawals, and greet customers.
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the education level of a consumer is a(n) variable that can be used to identify consumer markets.
Consumer markets can be determined using Demographic variables like consumer education levels.
Businesses utilize Demographic variables to determine the product preferences and purchase patterns of their customers by looking at the socioeconomic features of a group. Businesses can create a customer profile based on the characteristics of their target market. In order to generate marketing materials, they can identify their core clients or target market.
Due to the substantial amount of freight they transport, Demographic variables are frequently referred to as "boxcar variables." The workforce's age, gender, and race are particularly fascinating to organizational psychologists. While they are generally unimportant for most other employment, age and gender are very relevant for physically demanding jobs. No of the occupation, race has no bearing on performance. It's common knowledge that managers make judgments at work under the impact of prejudices based on Demographic variables. This presumption has been proven to be false by recent studies on the individuation process.
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Businesses must first be responsible to their ________, who are primarily concerned with earning a profit.
Businesses must first be responsible to their owners, who are primarily concerned with earning a profit.
This is further explained below.
What is Business?Generally, Businesses are required to first fulfill their obligations to their owners, who are preoccupied mainly with maximizing their financial returns.
In conclusion, A person may earn a livelihood or make money via the practice of running a business, which entails the production of goods as well as their purchase and sale.
Additionally, it refers to "any activity or business undertaken with the purpose of generating a profit."
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You are buying zucchini at $1.20 a pound, but you must trim 12% of it away before you can use it. How much would the cleaned zucchini cost in a bread recipe that calls for 7 ounces?
You are buying zucchini at $1.20 a pound, but you must trim 12% of it away before you can use it. How much would the cleaned zucchini cost in a bread recipe that calls for 7 ounces? $4.375
Trades in the British pound gain from financial news stories in two ways. While the second shows higher liquidity, the first is a clear trend. The timing of financial news might vary, but financial firms and governments often disseminate a large amount of material on a regular basis. Most monthly economic figures from the United Kingdom are released between two and one in the morning. and 4:30 a.m. This is a fantastic time to trade because it is Eastern Time in the United States. Announcements of the interest rate by the central bank, which typically occur at predetermined intervals, also have a significant impact on exchange rates. The duration of trading sessions and price movements on the stock market can have a big impact on the British pound.
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How long does it take to become a millionare? a 200000 investment will hit 1 million in 40 years at an annual interest rate of 4.11
If you’re looking to become a millionaire someday, you might have wondered how long it will take before your investment hits the mark.
If you plan on investing 200000 at an annual interest rate of 4.11%, it will take you about 40 years to reach the million-dollar mark with no additional investments.
The amount of time it takes to become a millionaire varies by country and interest rate, but the general rule of thumb is that the more money you invest, the less time it will take to reach your million-dollar goal.
But how do you know if it’s even worth investing 200000 in the first place? After all, that’s a lot of money to part with, even if you plan on making several times that amount over time!
The shocking truth is that, on average, it takes about 40 years for your initial investment of $200,000 to turn into $1 million.
Here are some things to consider when deciding whether or not to invest your savings or investment money into a high-yield interest rate opportunity.
Investing over 30 years means your investments should be able to make a 5-10% profit each year:Start saving early, invest wisely, and sit back and watch your account growth.
If you are putting in $3,000 per year into your investment account at an average annual return of 5%, after 30 years of saving (or retirement) the total investment balance would be $637,171.58.
And keep in mind that this is just one strategy out of many that can help make your money work harder for you.
A 200000 investment will hit 1 million in 40 years at an annual interest rate of 4.11:What your investment will be worth in 40 years, and the expected annual interest rate are two factors that determine how long it will take for your savings to grow into a million dollars.
This formula is called the time value of money and is based on simple math: 4.11% compounded annually would make an initial $200,000 investment grow into $1,000,110 over the course of 40 years.
That's good news if you're looking to retire soon and want to make sure you have enough money saved up for retirement.
To get there sooner, however, try increasing your contribution by 1% every year until it's maxed out at 15%.
Average millionaires invest 20% of their income each year:In recent years, the average US household net worth was $10,700,000. To get there, the average American invests 20% of their income each year.
For example, if your salary is $20000 per year then you would invest $4000 into stocks or funds that make your money grow.
On average, at an annual interest rate of 4.11%, and after 40 years of saving 20% of your income annually, you will hit 1 million dollars (assuming a constant investment).
But keep in mind, this assumes a constant investment over time. A big change in your lifestyle might have an impact on how quickly you can reach the millionaires club - for better or worse!
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A friend asks to borrow $250 for 120 days and agrees to pay 2.5% simple interest every 30 days. how much interest will you earn? give your answer in dollars to the nearest dollar.
$6.25 of interest will be earned every 30 days.
Given,
Borrowing amount = $250
Simple interest = 2.5%
No. of days = 30 days
A month equals 30 days and so earning due to interests will be only effective after each 30th day. The simple interest formula is used here in order to calculate the interest.
[tex]I=\frac{P*R*T}{100}[/tex]
Here,
P - borrowed money.
R - simple interest rate.
T - no. of periods.
I - interested gain due to borrowed money.
So, if P = $250, R = 2.5%, and T = 1, then the interest earned is:
[tex]I= \frac{(250)*(2.5)*(1)}{100}[/tex]
[tex]I=\frac{625}{100}[/tex]
[tex]I= 6.25[/tex]
Hence, $6.25 of interest will be earned every 30 days.
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How would you quickly find the total number of water samples (or test tubes) collected across all of the lakes in your study?
To quickly find the total number of water samples (or test tubes) collected across all of the lakes in your study I will B) sum(FloridaLakes$NumSamples)
What is sampling?Sampling is the process of choosing a subset of people (a statistical sample) from a statistical population in order to estimate the characteristics of the entire population. It is used in statistics, quality control, and survey technique. Statisticians try to get samples that are typical of the population under consideration. In situations where it is impractical to assess the complete population, sampling offers insights and is more affordable and quicker than doing so.
Each observation quantifies one or more characteristics of distinct things or people, such as their mass, position, color, or weight.
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for each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice when preparing a budget. correct choice incorrect choice david is a sales rep who, based on last year, averaged $2,500 of monthly commission before taxes. he should include this in his budget. sharon was just notified that her contribution to the company’s health plan is increasing by 3.5%. it’s a company expense, so sharon doesn’t include it in her budget. as scott was reconciling his checkbook, he realized that he incurred $15.75 last month for atm withdrawals. he looked back at the last six months and realized that he averaged the same amount each month. this is an unexpected expense and shouldn’t be listed in his budget. every year the mendozas buy a big item or take a trip with a single annual bonus jesse receives. they included this in their budget.
For each of the following scenarios, whether the individual made a correct choice or an incorrect choice when preparing a budget, is indicated below.
In total there are four scenarios given, which are discussed below.
Correct choice:
David should include the monthly commission before taxes in his budget.Since it’s a company expense, Sharon doesn’t include it in her budget.The Mendoza's include in their budget a big item or take a trip by a single annual bonus which Jesse receives.Incorrect choice:
Scott realized that he incurred $15.75 for atm withdrawals. This unexpected expense should not be listed in his budget.A budget is considered as an estimation of revenue and expenses over a specified future period of time which is thus re-evaluated and compiled on a periodic basis.
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Which is a brainstorming tool used for identifying underlying causes to a problem?
Fishbone diagram is used to identify the cause-and-effect relationship.
What is brainstorming?
The brainstorming is a technique that is used to develop new ideas for a new ongoing problem.
There is a special tool that is used to identify the underlying causes to a problem called fishbone diagram. The fishbone is a type of cause-and-effect diagram. Firstly, the cause of the problem is found out and after this the possible effects that problem is find out. After, analyzing the causes and effects a proper idea to deal with this problem is identified. The fishbone diagram is also known as the root analysis system in which the problem is identified from the start and its solution. Hence, the tool used is known as the fishbone.
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