research shows that a key competence of high-performance diversified firms is the ability to group of answer choices hide excess capital. efficiently dispose of excess capital. effectively allocate financial capital. invest internationally.

One disadvantage of the specific identification inventory costing method is that this method is impractical for most companies to implement due to the quantity of inventory.

Specific identification inventory costing method is a system of tracking inventory that identifies and tracks the cost of each item sold separately. The cost of items sold is accurately calculated, and the exact value of ending inventory can be determined.

This inventory costing method is most frequently used by businesses that sell high-priced, unique products or have a limited amount of inventory on hand.

The disadvantages of the specific identification inventory costing method are listed below:

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Elegant and ornate, the traditional French meal service. At least some dishes or courses are made entirely or in part right there at the table in front of the guests.

A waiter (or maître d'hôtel) will generally prepare or finish food at the diner's table using a special serving cart known as a guéridon trolley. This practice is known as gueridon service or tableside service in the restaurant industry..

Simple and informal service is the hallmark of American service. A Plated service is another name for it. With this American method of serving, the kitchen staff neatly plates the food in the kitchen and then places it on the guest's plate starting from the right side. It is a fairly simple way to serve food.

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1. Workforce planning is the process of ensuring that an organization has the necessary staff to meet its operational goals, as well as to plan for and manage any potential changes in the size or makeup of its workforce. The steps in SHRP process are: analyzing the current situation, assessing future needs, developing strategies, and monitoring and evaluating. 2 Considerations for Talent Planning include: identify critical roles, engage with employees, align with business strategy, develop talent pools, and implement succession planning

Workforce Planning is a key component of Strategic Human Resource Planning (SHRP). It is the process of predicting and planning for future changes in the workforce, both in terms of quantity and quality. The goal is to make sure that there are enough qualified employees available to meet organizational needs and objectives. It ensures that an organization has the right people in the right jobs at the right time, and that it has the capacity to meet both current and future business needs.

SHRP, or Strategic Human Resource Planning, is a process that helps organizations to align their HR strategies with their overall business goals The steps in the SHRP process include:

When companies embark on Talent Planning, important considerations include the following:

Overall, Talent Planning is an important step in an organization’s strategic Human Resource Planning process, and it requires careful consideration and planning.

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The area of change that generally has the highest impact given the complex nature of projects is a change in the project. The correct alternative is option a.

A project is a task that is temporary in nature and has a defined beginning and end. It entails a specific set of tasks that are carried out to achieve a particular objective. Project management is the process of planning, organizing, and managing resources to accomplish a specific task.

A project is deemed successful when it is finished on time, within budget, and meets or exceeds the quality standards that have been established. A change management plan is a plan that outlines how modifications to the project will be handled, including changes to the scope, budget, and schedule. When a change is introduced into a project, it has the potential to disrupt the project's current trajectory and have a significant impact on the team's ability to complete it successfully.

Because of the complex nature of projects, a change in the project generally has the highest impact. The correct alternative is option a.

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Inflation and interest rates are closely related. When inflation increases, central banks tend to raise interest rates to control the rising prices.

Higher interest rates make borrowing more expensive, which reduces spending and slows down economic activity, leading to lower inflation. Conversely, when inflation falls below the target rate, central banks may lower interest rates to encourage borrowing and spending, which can stimulate economic growth and increase inflation.

Overall, the relationship between inflation and interest rates can be summarized as follows: as inflation goes up, interest rates tend to go up; as inflation goes down, interest rates tend to go down. This relationship is important for investors and borrowers to understand as it affects the cost of borrowing, the value of savings, and overall economic activity.

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A stock price of $54.72 would be appropriate.

Given:

Total dividends paid = $750,000

Additions to retained earnings = $2,250,000

Number of shares = 585,000

Benchmark P/E ratio = 16 times.

To determine the stock price, we use the P/E ratio formula;

P/E ratio = Stock price / Earnings per share.

P/E ratio can be computed as follows;

P/E ratio = Market price per share / Earnings per share

If the benchmark P/E ratio is 16 times, it means the stock price of the company will be 16 times its earnings per share. Let's first determine the earnings per share.

Earnings per share = (Additions to retained earnings - Total dividends paid) / Number of shares

Earnings per share = ($2,250,000 - $750,000) / 585,000 = $3.42

P/E ratio = 16 times

Therefore, we can compute the stock price by rearranging the P/E ratio formula as follows; Stock price = P/E ratio * Earnings per share Stock price = 16 * $3.42 = $54.72. Hence, a stock price of $54.72 would be appropriate.

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The price of the bond today is $804.91. To compute the price of the bond, we need to discount each of the bond's future cash flows to its present value and sum those present values.

The future cash flows for this bond consist of a series of semiannual coupon payments of $26 (=$1,000 × 5.2% ÷ 2) and a final principal payment of $1,000 at maturity.

The number of semiannual periods until maturity is 30 years × 2 = 60 semiannual periods.

The discount rate we will use to calculate the present value of these cash flows is the bond's YTM, which is 7.0% / 2 = 3.5% per semiannual period.

Using the present value formula for a bond's cash flows, we can calculate the present value of the semiannual coupon payments and the final principal payment as follows:

Present value of semiannual coupon payments = $26 × [1 – 1 / (1 + 0.035)^60] / 0.035 = $728.95

Present value of final principal payment = $1,000 / (1 + 0.035)^60 = $75.96

Therefore, the price of the bond is:

Price = Present value of semiannual coupon payments + Present value of final principal payment

= $728.95 + $75.96

= $804.91

So, the price of the bond today is $804.91.

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If $17,000 of the costs are fixed, and the plant manager uses the cost equation to predict total costs, The forecast for 6,000 anchors is $257,000.

The cost equation for Sea Side Enterprises can be expressed as follows:

Total cost = Fixed cost + Variable cost per unit * Production level

We know that the average cost per anchor is $57, and the production level is 5300 anchors. Therefore, the variable cost per unit can be calculated as follows:

$57 = Fixed cost/5300 + Variable cost per unit

$57 - $17,000/5300 = Variable cost per unit

$40 = Variable cost per unit

Using this information, we can now calculate the total cost for a production level of 6000 anchors:

Total cost = $17,000 + $40 * 6000

Total cost = $257,000

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The Free Cash Flow for 2020 is $42,000 and the Free Cash Flow for 2021 is $48,000.

Free cash flow (FCF) is a financial metric that represents the amount of cash a company generates from its operations after accounting for capital expenditures necessary to maintain or expand its business. FCF is a crucial indicator of a company's financial health as it shows whether a company can fund its operations, pay off debt, and distribute cash to shareholders. FCF is calculated by subtracting the capital expenditures from operating cash flow. A positive FCF indicates that a company has cash available to invest in growth opportunities or distribute to shareholders, while a negative FCF suggests that a company may need to borrow or raise capital to meet its obligations. FCF is a key metric used by analysts and investors to assess a company's ability to generate cash and create value for its shareholders.

Cash flow from operations = $50,000 + $20,000 - $10,000 - $5,000 + $2,000 = $57,000

Capital expenditures = $15,000 - $0 = $15,000

FCF for 2020 = $57,000 - $15,000 = $42,000

Cash flow from operations = $60,000 + $25,000 - $12,000 - $8,000 + $3,000 = $68,000

Capital expenditures = $20,000 - $0 = $20,000

FCF for 2021 = $68,000 - $20,000 = $48,000

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Self-actualization is the highest-level need in Maslow's hierarchy.

The five-stage model of Abraham Maslow's hierarchy of needs is a motivational theory. Each of the five stages represents a distinct type of need that must be satisfied before an individual can reach their full potential. Maslow's hierarchy of needs provides a framework for determining human motivation.

Maslow's hierarchy of needs is divided into five categories:

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Aggregate Demand refers to the total quantity of all goods and services consumers for an entire country are willing and able to purchase at each price level in a given period of time.

Aggregate demand refers to the total level of demand for all goods and services within an economy, including consumer goods, investment goods, and government spending. It represents the sum of the individual demands of all consumers, businesses, and government entities within a country, and it is typically measured over a specific time period, such as a year or a quarter. The level of aggregate demand is influenced by a range of factors, including the overall level of economic activity, consumer confidence, government policies, and global economic conditions.

Aggregate demand is a crucial concept in macroeconomics because it helps to determine the overall level of economic activity in an economy, as well as the level of inflation or deflation. If aggregate demand is too low, it can lead to a recession, high unemployment, and deflation. Conversely, if aggregate demand is too high, it can lead to inflation and an overheated economy.

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The Joint Committee on the Economy is a bipartisan committee of the United States Congress that is responsible for conducting studies and making recommendations on matters related to the economy.

It is composed of members from both the House of Representatives and the Senate and has jurisdiction over issues such as taxes, monetary policy, and federal spending.

The committee is tasked with examining economic conditions and recommending policies to promote economic growth, reduce unemployment, and ensure the stability of financial markets.

It also holds hearings and meetings to gather information from experts and stakeholders in order to inform its recommendations to Congress. The Joint Committee on the Economy plays an important role in shaping economic policy in the United States.

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The correct option is C, assuming the company uses the perpetual inventory method. Under the perpetual inventory technique, the company's closing inventory on July 14 is $216.

"Last-In, First-Out" (LIFO) is an inventory accounting technique that firms use to determine the value of ending inventories and the cost of products sold. According to LIFO, older inventory items are presumed to be unsold and the most current or most recently created things are assumed to be sold first. The most current inventory items are used to determine the cost of products sold, which may have increased owing to inflation or other circumstances. This approach could lead to greater cost of products sold and lower reported earnings, which might have an impact on how much money enterprises owe in taxes. In sectors like the food or electronics industries, where inventory goods have a limited shelf life, LIFO is frequently employed.

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To add the "Total Revenue," "Total Billable Hours," and "Average Hourly Rate" columns, as well as sort the table by "Hourly Rate" in descending order, follow these steps:

Step 1: Add a "Total Revenue" column by multiplying the "Billable Hours" column by the "Hourly Rate" column for each year. To create the "Total Revenue" column, follow these steps: Select the column to the right of the "Hourly Rate" column (the first blank column).In the first cell of the new column, enter the formula "=C2*D2." This will multiply the first year's "Billable Hours" by its "Hourly Rate" and give you the "Total Revenue" for that year. Click and drag the bottom-right corner of the cell down to the last row of data. This will autofill the formula for all years.

Step 2: Add a "Total Billable Hours" column by summing up the "Billable Hours" column for each year. To create the "Total Billable Hours" column, follow these steps: Select the column to the right of the "Total Revenue" column (the next blank column).In the first cell of the new column, enter the formula "=SUM(B2:F2)." This will add up the "Billable Hours" for the first year and give you the "Total Billable Hours" for that year. Click and drag the bottom-right corner of the cell down to the last row of data. This will autofill the formula for all years.

Step 3: Add an "Average Hourly Rate" column by dividing the "Total Revenue" column by the "Total Billable Hours" column for each year. To create the "Average Hourly Rate" column, follow these steps:Select the column to the right of the "Total Billable Hours" column (the next blank column).In the first cell of the new column, enter the formula "=E2/F2." This will divide the first year's "Total Revenue" by its "Total Billable Hours" and give you the "Average Hourly Rate" for that year. Click and drag the bottom-right corner of the cell down to the last row of data. This will autofill the formula for all years.

Step 4: Sort the table by the "Hourly Rate" column in descending order. To sort the table by "Hourly Rate" in descending order, follow these steps: Click anywhere inside the table. Go to the "Data" tab in the Excel ribbon. Click on the "Sort A to Z" or "Sort Z to A" button, depending on whether the table is currently sorted in ascending or descending order. Select "Hourly Rate" from the dropdown menu in the "Column" section. Click on the "Descending" button, indicated by a "Z-A" icon. Click "OK."  

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The correct adjective or adverb in each sentence is as follows:

Jonas expected to do well on the statistics exam.

I congratulated Zinnia on her out-of-the-box thinking.

Adam thought he did well on his presentation to the stockholders.

I was advised to slowly read the Johnson expense report.

Learning the new software in one week was a good move.

Jake is careless with his paperwork.

She was really surprised to hear that her supervisor had resigned.

I can see him getting a promotion in the near future.

The memo is informative, clearly written, and ready to be sent to the rest of the firm.

That was a badly written report.


Adjectives are used to modify nouns, while adverbs are used to modify verbs, adjectives, or other adverbs. In each of the sentences, the correct word choice is the one that correctly modifies the word it is meant to modify.

For example, in the first sentence, "well" is the correct choice because it is an adverb that modifies the verb "do." In the second sentence, "out-of-the-box" is the correct choice because it is an adjective that modifies the noun "thinking." And so on for the rest of the sentences.

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$10,283.78 will be the present value of $12,500 to be received 4 years from today.

The present value formula, PV=FV/(1+i)n, divides the future value FV by a factor of 1 + I for each interval between the current date and the future date. Present value (PV) is the current value of a future financial asset or stream of cash flows, given a specific rate of return.

Future cash flows are discounted to some extent depending on the discount rate, and the higher the rate, the lower the present value of those future cash flows will be. Business executives and investors should only finance initiatives or enter into contracts that have a net present value that is in their favor, according to the net present value rule (NPV).

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If the exchange rate is 1, it would cost 75 dollars to purchase a sweater from the Edinburgh Woolen Mill that costs 50 British pounds.

They are established in the global financial market, wherever financial companies and other entities trade currencies round-the-clock depending on these criteria, and are known as market exchange rates. Free-floating or fixed exchange rates are also possible. Changes in the foreign currency market cause a loose exchange rate to rise and decrease. The value of one currency is linked to a set exchange rate. The rate about which one currency can be exchanged for another is known as the exchange rate in the world of finance.

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The cost of goods sold will be $288,500, and the gross profit will be $124,500.

The cost of goods sold is the sum of all direct expenses incurred in manufacturing an item (COGS). It appears on an income statement and typically consists of cash spent on labor and raw materials. Marketing, sales, and distribution expenses are not included.

The money your business makes after paying its expenses is known as gross profit. Your earnings after all costs have been covered make up your net profit. Gross profit is the amount of money left over after an organization has paid for the goods and services it sold.

Cost of Goods must have been undervalued by $23,000 if Ending Inventory was inflated by that amount.

Actual Cost of Goods sold = 265,500 + 23,000

= $288,500

Gross profit = Sales - Cost of goods

= 413,000 - 288,000

= $124,500

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A sales forecast is crucial to the marketing strategy since it helps identify potential clients.

With the use of sales forecasting, businesses may effectively allot resources for future expansion and control their cash flow. Sales forecasting aids companies in effectively estimating costs and income, which allows them to foresee both short- and long-term performance.

A sales forecast is defined. The predicted revenue from sales is expressed in a sales forecast. What your business expects to sell during a specific time period is estimated by a sales forecast (like quarter or year). The most accurate sales projections do this.

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The organisational objectives, managerial structure, and decision-making procedures of Procter and Gamble's private sector structure and the Ministry of Education's public sector structure are all different.

The Education Ministry, as a public sector agency, is primarily focused on delivering quality education to the population of a country, while ensuring equitable access to education for all, irrespective of their background or socio-economic level. As a company operating in the private sector, Procter and Gamble is committed to delivering high-quality consumer goods while generating profits for its stockholders. Typically, the Ministry of Education has a hierarchical organisation, with distinct lines of authority and a concentration of decision-making power at the highest levels of management. Procter and Gamble, in comparison, might have a flatter organisational structure, giving its staff and divisions more autonomy and decentralising decision-making.

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In Ohio, when a broker dies, the associated licensees at the brokerage must transfer their licenses to a new broker.

The Ohio Department of Insurance requires the licensees to file a Request for Transfer form, along with supporting documents and fees, to initiate the transfer.

If a licensee fails to transfer their license, their license will be automatically canceled. When a broker dies in Ohio, the licenses of all associated licensees at the brokerage are no longer valid. However, if the brokerage chooses to continue operating, the licenses can be transferred to another broker within the brokerage.

In the state of Ohio, the law requires that a licensed real estate broker be in charge of every brokerage firm that has salespeople. If a licensed broker dies or otherwise leaves the firm, the firm may designate another broker to take over as the broker of record. However, the brokerage has the right to designate a new broker of record within 10 days.

A broker who accepts this designation is responsible for ensuring that all licensed salespeople affiliated with the former broker immediately transfer their licenses to the new brokerage within 30 days, or their licenses will be considered inactive.

In Ohio, when a broker dies, the associated licensees at the brokerage must transfer their licenses to a new broker.

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The correct answer is A. Home Depot’s withdrawal from China.

A market refers to the exchange of goods and services between buyers and sellers. It is a place where buyers and sellers come together to exchange goods and services for an agreed price. Markets can be physical locations like a supermarket or a street market, or they can be virtual markets like online marketplaces where transactions take place digitally.

Markets are driven by supply and demand. When there is high demand for a product or service, the price is likely to increase, and when there is low demand, the price is likely to decrease. Similarly, when there is high supply, the price is likely to decrease, and when there is low supply, the price is likely to increase. Markets can be affected by a variety of factors, such as changes in consumer preferences, economic conditions, government regulations, and competition.

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1. Game B I think has rate their game as more fair.

2. Game B

3. Game A  

4. Game B give the most opportunity to players for success.

An opportunity in business may refer to a chance to pursue a potential profitable business venture or investment. Exploring a new market segment, creating a novel product or service, or identifying a market gap are all examples.

Opportunities can also refer to one's own personal development and growth. For instance, you might get a chance to learn a new skill, take on a new job role, or meet new people that could help you grow personally or professionally.

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Game B I think has rate their game as more fair.

Game B

Game A  

Game B give the most opportunity to players for success.

A chance to pursue a potentially lucrative business endeavor or investment is referred to as an opportunity in the business world. Examples include researching untapped markets, developing new goods or services, or spotting market gaps.

Opportunities also apply to one's own growth and development as an individual. You might have the opportunity to pick up a new talent, take on a new job responsibility, or meet new people, all of which could help you advance personally or professionally.

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This strategy guarantees that everything is prepared before the gift bag manufacturing starts and provides a one-hour safety net in case of delays.

The process of working one-on-one with specific suppliers to enhance their performance for the benefit of the purchasing organisation is known as supplier development. It is strongly related to partnering and supplier relationship management, two distinct topics on which CIPS has similar documentation.

They consist of the efficiency of two-way communication, supplier evaluation and feedback, senior management participation, a focus on total cost, and a long-term outlook.

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A printer company has two locations with a total of 23 employees. At each location, for instance in a larger location number of employees will be 15 while at the smaller location, the number of employees will be 8.

Operating high-volume copying, printing, and finishing machinery is the job of a printing services operator. It carries out tasks for printing, finishing, binding, laminating, and other operations as well as document duplication. An operator for printing services puts up and maintains equipment and a supply inventory.

To find out the answer in-depth, here's the complete solution:

Let's take:

l = number of employees at a larger location

s = number of employees at a smaller location

Now, according to the question, the number of employees at the larger location is 4 times that of a smaller location:

4l = 7s + 4

l + s= 23

s= 23 - l

4l = 7(23 - l) + 4

11l = 161 - 7l + 4

11l = 165

l = 15 employees

s = 8 employees

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The share value of the firm after 5 years by using the EV/EBITDA multiple, will be 482.59

To calculate the share value of MCS Corp, we need to use the EV/EBITDA multiple to estimate the terminal value in Year 5. EBITDA for Year 5 can be calculated by adding the EBIT for Year 5 to the sum of the net working capital, capital spending, and depreciation for Year 5:

EBITDA for Year 5 = $45 + ($45 x 0.06) + ($45 x 0.12) + ($45 x 0.05) = $60.45

Terminal value in Year 5 = EV/EBITDA multiple x EBITDA for Year 5 = 7 x $60.45 = $422.15

The total value of the firm at Year 5 = Market value of debt outstanding + Market capitalization + Terminal value in Year 5 = $210 million + $310 million + $422.15 million = $942.15 million

Share Value = Total value of firm at Year 5 / Total number of shares outstanding = $942.15 million / 1.95 million = $482.59.

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Given a Kentucky fire department that wants to build new fire stations to serve four population zones (1, 2, 3, and 4), it needs to be ensured that the new station should reach within 8 minutes when an emergency call is received.

The available budget is $250, and the fire stations can be located in the center of population zones 1 through 4 at a cost of $100, $120, $200, and $130, respectively.

The following matrix shows the travelling time between each pair of zones in minutes:

To Zone 1 2 3 4

From Zone    

1 0 3 7 9

2 3 0 4 5

3 7 4 0 2

4 9 5 2 0

Let us determine an appropriate set-covering model to determine where the units are to be located and how the population zones are to be covered and solve the model using the greedy heuristic.

Step-by-step explanation:

Step 1: Determine the decision variables

Let Xi represent the binary variable indicating whether or not to locate a fire station at zone i.

Step 2: Determine the objective function

The objective is to minimize the total cost of the fire stations. Therefore, the objective function is:

Z = 100X1 + 120X2 + 200X3 + 130X4

Step 3: Determine the constraints

Constraint 1: A new station must reach within 8 minutes upon an emergency call is received. Therefore, for each pair of population zones i and j, if a fire station is located at i, and the travel time from i to j is greater than 8 minutes, a fire station must also be located at j.

∑(Ti j X i) ≤ 8

Constraint 2: The available budget is $250.

∑ Cj Xj ≤ $250

Constraint 3: Fire station must be located in the center of population zones.

X1 + X2 + X3 + X4 = 1

Step 4: Formulate the set-covering model

Minimize Z = 100X1 + 120X2 + 200X3 + 130X4

Subject to:

∑(Ti j X i) ≤ 8, for all i,j

∑ Cj Xj ≤ $250

X1 + X2 + X3 + X4 = 1

Step 5: Solve the model using the greedy heuristic.

X1 + X2 + X3 + X4 = 1

According to the constraints, at least one fire station should be located in one of the four zones.

Z = 200X1 + 120X2 + 130X4 + 200X3

From the above formula, it is observed that the minimum cost is obtained when the fire station is located at zone 1 and zone 2. In this case, the objective function value is Z = $320.

Therefore, the minimum cost to serve all the zones is $320. Hence, the appropriate set-covering model is determined to find where the units are to be located and how the population zones are to be covered, and it is solved using the greedy heuristic.

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The issue is whether the students can enforce the professor's promise to give them $100 each as a reward for their hard work last year (1).

The law requires consideration, which means that both parties must exchange something of value for a contract to be enforceable (2).

The professor's promise lacks consideration, so the students cannot enforce it as a contract; however, they may still try to persuade the professor to fulfill her promise as a moral obligation or reward (3).

The issue is one of contract enforceability. In order for a contract to be binding, it must involve consideration - a mutual exchange of something of value between the parties. In this case, the professor promised to give each student $100, but there was no exchange of consideration. The students did not promise anything in return for the reward, so the promise lacks consideration and is not a legally enforceable contract.

However, the students may still try to persuade the professor to fulfill her promise as a matter of moral obligation or as a reward for their hard work. While they cannot force her to pay them, they can appeal to her sense of fairness and goodwill.

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The total annual salary and payroll tax expense for an employee with a $95,000 annual salary and a $400 monthly insurance premium paid by the employer, assuming no IRS-approved healthcare plan, would be $103,109.50.

Assuming the company does not have an IRS-approved healthcare plan, the total annual salary and payroll tax expense for the employee would be

Annual salary: $95,000.00

Employer's portion of insurance premium: $1,800.00 ($150.00 x 12 months)

Social Security tax (6.2% x $95,000.00): $5,890.00

Medicare tax (1.45% x $95,000.00): $1,377.50

Federal Unemployment tax (0.6% x $7,000.00): $42.00

Total annual salary and payroll tax expense: $103,109.50

Therefore, the total annual salary and payroll tax expense for the employee would be $103,109.50.

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1. The concept of TQM is not clear throughout the organization. 2. The changes required for TQM Culture adoption in this organization are creating continuous improvement culture, standards for quality measurement, customer complaints response system, and training staff. 3. Contribution of QC to improve quality in a department is identification of non-conformance areas, consistent processes, quality systems measurement, clear quality objectives, and continuous improvement initiatives. 4. TQM will help in short term and/or long-term success. 5. Kanban system can be implemented by optimizing and improving workflow. 6. Kaizen system can be implemented by continuously improving processes, products, and services.


1. The concept of Total Quality Management (TQM) may not be clear throughout the organization. TQM is a management approach that focuses on continuous improvement and customer satisfaction, and it requires organizations to identify, measure, and improve their processes in order to increase efficiency and performance. In order for TQM to be implemented in this organization, all departments and functions must understand the concept and how to apply it to their daily operations.

2. In order for this organization to adopt a culture of TQM, there are several changes that must take place. These include:

3. Quality Control (QC) is a process that is designed to ensure that products and services meet quality standards. It is important for any organization striving to achieve its goals and objectives, as QC can help to identify areas of improvement and reduce waste. QC can also help to improve quality in a department or function by:

4. I do believe that TQM can help an organization to achieve both short-term and long-term success. In the short-term, TQM can help to reduce costs, improve efficiency, and increase customer satisfaction. This can lead to an increase in profits and a stronger market position. In the long-term, TQM can help to establish a culture of continuous improvement and innovation, enabling the organization to remain competitive and improve its processes over time.

5. Kanban is a method of managing production and inventory which can be used to optimize and improve workflow. To implement Kanban for ABC Pharmaceutical, the following steps can be taken:

6. Kaizen is a Japanese term meaning “good change” which refers to the process of continuously improving processes, products, and services. To implement Kaizen for ABC Pharmaceutical, the following steps can be taken:

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