Sam is planning to start a pool cleaning business from his home. He has $9,000 in savings and $23,000 in credit that he can use for the business.
Will Sam be able to afford the operational costs of the first year of business on his own?The given cost analysis for the set-up and operation of the pool cleaning business for the first year is as follows:
Cost Analysis for the Set-Up and Operation of Pool Cleaning Business for the First Year
For Set-up Costs: $22,000
For Operational Costs: $16,000
Total: $38,000
Given, Sam has $9,000 in savings and $23,000 in credit that he can use for the business.
Total funds available to Sam = $9,000 + $23,000 = $32,000
We can calculate whether Sam can afford the operational costs of the first year of business on his own or not.
As we know that Sam has $32,000 in his hand and the total cost for set-up and operation of the business is $38,000.
Hence, he is short of $6,000 (=$38,000-$32,000) to afford the operational costs of the first year of business on his own.Therefore, Sam won't be able to afford the operational costs of the first year of business on his own.
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Assume the risk-free interest rate, Rf, is the yield of the
12-month Treasury bill, currently at 3.3%. Inflation is currently
at 2.1%. Calculate the real risk-free interest rate.
As per given data, Risk-free interest rate (Rf) = 3.3%, Inflation rate = 2.1%.
We know that real risk-free interest rate is the rate at which an investor can lend or borrow money without any risk. Real risk-free interest rate formula: Real risk-free interest rate = Nominal rate - Inflation rate.
The nominal rate is the rate at which the money is lent or borrowed with consideration of inflation. Let's find the nominal rate. We have, Nominal rate = Risk-free interest rate + Inflation rate= 3.3% + 2.1%= 5.4%.
Putting this in the formula of the real risk-free interest rate. Real risk-free interest rate = Nominal rate - Inflation rate= 5.4% - 2.1%= 3.3%Therefore, the real risk-free interest rate is 3.3%.
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The panama canal expanded to accommodate larger container ships in 2016. Which effect will this new infrastructure most likely have on patterns of world trade and food distribution?
The Panama Canal expanded to accommodate larger container ships in 2016. It will affect the cost of food transport, changing shipping routes and making a trade with different end markets more or less desirable.
The 48-mile-long (77 km) International waterway known as the Panama Canal allows vessels to pass between the Atlantic Ocean and the Pacific Ocean, saving about 8000 miles (12,875 km) from a journey around the southern tip of South America, Cape Horn. After an intensive construction program (2009-2016), the Cocoli and Agua Clara Locks added a third lane to the Panama Canal for the transit of Neopanamax vessels.
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Question 14 (3 points) On November 1, 2022, ACME Corporation paid $12,000 for 3 months insurance. ACME Corporation has a December 31 year-end and adjust its accounts annually.REQUIRED: a. Calculate the amount of insurance used as of December 31. b. Prepare the adjusting journal entry required at December 31 . • The amount of insurance used =$ • The adjusting journal entry:
On November 1, 2022, ACME Corporation paid $12,000 for 3 months insurance. ACME Corporation has a December 31 year-end and adjusts its accounts annually.
REQUIRED:
a. Calculate the amount of insurance used as of December 31.
b. Prepare the adjusting journal entry required at December 31.
• The amount of insurance used = $4,000
• The adjusting journal entry: Debit Insurance expense $4,000, Credit Prepaid insurance $4,000
The amount of insurance used as of December 31 is $4,000. An adjusting entry is needed on December 31 to record the amount of insurance expense incurred as of the end of the accounting period.
Prepaid insurance will be debited for $4,000, and Insurance Expense will be credited for $4,000 as the adjusting entry. This adjusting entry reduces the prepaid asset account and increases the insurance expense account.
The adjusting journal entry is as follows:
Debit Insurance expense $4,000
Credit Prepaid insurance $4,000
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what are three benefits of forming a company?
Answer:
Taxation benefits, enhanced credibility, liability protection and greater ability to raise capital
the hr manager of carl investments, a share broking firm, has decided to arrange regular yoga classes for the employees of the firm. he has made this decision because many employees have recently complained of poor health due to workload. in the given scenario, the hr manager of carl investments is using a(n) . group of answer choices institutional program defined benefit plan defined contribution plan collateral stress program
The HR manager of Carl Investments is using a stress program in this scenario.
A stress program is a workplace program designed to manage and reduce stress levels of employees, often through activities such as yoga.
By providing regular yoga classes, Carl Investments' HR manager is attempting to combat the health complaints of employees due to workload by providing a preventative measure to combat the source of their stress.
This type of program is used in the workplace to improve employees' health, productivity, and morale.
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Innovative entrepreneurship as a business opportunity for young entrepreneurship
Innovative entrepreneurship presents a compelling business opportunity for young entrepreneurs, as it allows them to tap into emerging markets and capitalize on the latest trends and technologies.
By pursuing innovative ideas and taking risks, young entrepreneurs can differentiate themselves from competitors and create new value for customers.
Innovative entrepreneurship also offers the potential for high growth and scalability. By leveraging technology and digital platforms, young entrepreneurs can reach a global audience and rapidly scale their businesses, without the need for significant upfront investment.
However, successful innovative entrepreneurship requires a deep understanding of the market, a willingness to experiment and iterate, and a willingness to embrace failure as part of the learning process. Young entrepreneurs must be prepared to continuously adapt and pivot their businesses based on feedback from customers and changes in the entrepreneurship competitive landscape.
Overall, innovative entrepreneurship presents a unique and exciting opportunity for young entrepreneurs to build successful and impactful businesses, while also driving positive social and environmental change.
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Entrepreneurs must be strategic thinkers in order to develop the plans and objectives necessary to start a business that will last. Imagine you are starting a new music-streaming service. You have decided to differentiate your service from the others already in the marketplace. Think of three ways to add value to your service and also the performance measures you’ll need to use in order to know if your added value is really valued by customers.
The performance measures for these strategies should be regularly evaluated to determine their effectiveness in driving user engagement and satisfaction with the music streaming service.
What exactly are entrepreneurs?Entrepreneurs are individuals who create and run businesses, taking on financial risks and using their innovation, creativity, and leadership skills to develop new products, services, and processes that solve problems or meet unfulfilled needs in the marketplace. Entrepreneurs can be found in a variety of industries and sectors, ranging from tech startups to small local businesses.
Entrepreneurs are often characterized by their willingness to take calculated risks, their ability to identify and pursue opportunities, their capacity for innovation, and their perseverance in the face of obstacles and setbacks. They are also often motivated by a desire for financial gain, personal fulfillment, and the opportunity to make a positive impact on their communities or society at large.
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tabletop industries just went through a restructuring and is experiencing reduced labor costs. it is most likely that tabletop just completed what? a. a downscoping b. an employee buyout c. a management buyout d. a downsizing
Tabletop Industries just went through a restructuring and is experiencing reduced labor costs. It is most likely that Tabletop just completed a downsizing . The correct option is (d).
Tabletop Industries' recent restructuring appears to have resulted in a reduction in labor expenses, indicating that the company has reduced the size of its workforce. As a result, a downsizing is the most probable cause of the restructuring. Downsizing could be driven by a variety of factors, including economic downturns, a shift in the industry, or a shift in company goals or strategies.
A downsizing could be beneficial in the long term for a business by increasing efficiency and competitiveness, but it may also result in negative publicity and low morale among remaining employees, particularly if the downsizing is unexpected or poorly managed. A downsizing is defined as reducing the size, extent, or quantity of something.
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among the tools of tqm, the tool ordinarily used to aid in understanding the sequence of events through which a product travels is a: group of answer choices pareto chart. taguchi map. poka-yoke. check sheet. flowchart.
The tool ordinarily used to aid in understanding the sequence of events through which a product travels is a flowchart.
What is TQM?
TQM stands for Total Quality Management. It is a management approach focused on continuous improvement of quality, efficiency, and customer satisfaction in an organization. TQM involves all members of the organization in the process of identifying and solving quality problems, with the ultimate goal of producing products or services that meet or exceed customer expectations. This approach involves a range of tools and techniques, such as statistical process control, continuous improvement, Six Sigma, and others.
Among the tools of Total Quality Management (TQM), a flowchart is a tool used to aid in understanding the sequence of events through which a product travels. It is a visual representation that shows the steps involved in a process or system, and it helps to identify the critical areas where problems or inefficiencies may occur. Flowcharts can be used in any industry or organization to improve processes and increase efficiency.
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a retail representative's sales pitch relied upon for the purchase of sports equipment would be an example of:
A retail representative's sales pitch relied upon for the purchase of sports equipment would be an example of persuasive communication.
Persuasive communication is any form of communication that seeks to convince or persuade others to change their beliefs, attitudes, or behaviors. It is used to get individuals to buy goods, make political or social statements, or support a company. The persuader attempts to alter the audience's beliefs or opinions by appealing to their emotions or logical thinking. Persuasive communication encompasses a variety of activities, including sales pitches, political campaigns, and marketing efforts, among others.
The communicator's primary aim is to influence the audience's thinking and persuade them to take a particular action. A retail representative's sales pitch relied upon for the purchase of sports equipment would be an example of persuasive communication. Retail representatives' primary objective is to persuade customers to purchase their items. They rely heavily on persuasive communication to get customers interested in their products and provide a sales pitch that persuades them to purchase the product.
The retail representative employs various persuasive techniques to encourage potential clients to buy sports equipment. Sales pitches' persuasive language is intended to persuade clients to take a particular action, such as making a purchase. They might use persuasive phrases, statistics, and stories to grab the customers' attention and convince them to purchase the sports equipment.
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How do government regulations affect supply and demand? Explain how a government regulation to
increase bicycle safety might affect supply and demand. The new government regulation requires
bicycle manufacturers to put a chain guard on bicycles they make. Would that affect the supply of
bicycles? Give reasons for your answer.
Answer:
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Explanation:
Government regulations can have a significant impact on supply and demand in the market. Depending on the type of regulation, it can either increase or decrease the supply and demand for a product.
In the case of the new government regulation to increase bicycle safety by requiring bicycle manufacturers to put a chain guard on bicycles they make, it is likely to affect the supply of bicycles. The reason is that the new regulation will increase the cost of production for bicycle manufacturers, as they will have to purchase and install chain guards on their bicycles. This additional cost will likely be passed on to consumers in the form of higher prices.
As a result of the higher prices, the demand for bicycles may decrease. Consumers who were previously willing to purchase bicycles at the lower price may opt not to purchase bicycles at the higher price. This decrease in demand may lead to a decrease in the quantity of bicycles supplied by manufacturers. Conversely, if the demand for bicycles remains unchanged, then the increase in the cost of production will likely result in a decrease in the supply of bicycles.
Overall, the new government regulation to increase bicycle safety by requiring bicycle manufacturers to put a chain guard on bicycles they make will likely lead to an increase in the price of bicycles and a decrease in the quantity of bicycles supplied. However, it may also lead to an increase in the demand for bicycles from safety-conscious consumers who are willing to pay the higher price for a safer product.
Government regulations can affect supply and demand by changing the cost structure for businesses, which can impact prices and output.
The new bicycle safety regulation may increase production costs, leading to a potential decrease in the supply of bicycles, but it may also increase demand due to improved safety.
How do government regulations affect supply and demand?Government regulations can impact supply and demand by altering the cost structure for businesses, which can have a ripple effect on prices, output, and consumer behavior.
Regulations that increase production costs, such as taxes or requirements for safety features, can reduce the supply of goods or services, as businesses may choose to decrease production or exit the market.
On the other hand, regulations that incentivize production or consumption, such as subsidies or tax breaks, can increase the supply or demand for goods or services.
Government regulations can also impact consumer behavior by altering prices or availability, which can shift demand for certain products or services.
Overall, government regulations play a significant role in shaping the supply and demand dynamics in markets and can have far-reaching effects on economic activity.
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Assignment 1 \& Drop Box Business Psychology - Spring 2023 Assignment 1 Numerous behavioral genetic studies have demonstrated that individual differences in psychological traits develop under the influence of both genetic and environmental factors. These studies have also suggested that genetic factors do not influence a trait in a deterministic way. This implies that environmental factors influence a human being trait more than genetic factors. List seven environmental factors that influence human being behaviors and briefly. explain how one of these factors can do that? N.B: 1) You need to explain only one of the seven factors how it influences traits. 2) No references are needed. 3) Your answer should be between 300 to
500
words in total.
Seven environmental factors that influence human being behaviors are:
ClimateGeographical locationNatural resourcesPollutionUrbanizationCultureTechnologyHow can environmental factors that influence human being behaviors?Environmental factors can influence human being behaviors through Climate, the climate of a region can have a significant impact on human behavior. For example, extremely hot or cold temperatures can affect the way people dress, work, and interact with each other.
Another way is through Geographical location whereby eople living in different geographic locations may have different behaviors due to factors such as terrain, access to resources, and exposure to natural disasters. However the availability of natural resources such as water, food, and energy can affect human behavior and societal development. The depletion of natural resources can also lead to conflicts and migration.
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If two different accountants were to estimate the percentage of customers who will NOT pay their accounts (bad debts), they could arrive at different estimates. These differing estimates would affect the financial statements. Such differences in assessing estimates are due to: Fraudulent financial reporting Lack of internal controls Errors in accounts and ledgers Disagreements in judgment
These differing estimates would affect the financial statements and such differences in assessing estimates are due to disagreements in judgment.
What is meant by disagreements in judgment? Disagreements in judgment refer to any difference of opinion between accountants that may affect the financial statements of a company. Different accountants can form various estimates of bad debts for customers, which will lead to varying estimates of profits, expenses, or losses. Disagreements in judgment could lead to problems for a company when making decisions based on the financial statements.
Therefore, such disagreements must be discussed, and accountants must strive to minimize the impact of differences in opinion on the company's financial position.
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What is stagflation? question 2 options:
a. a period of rising prices and declining employment
b. a period of low prices and low unemployment
c. low inflation and economic growth
d. growing economy with low inflation
Option A, Stagflation is a period of rising prices and declining employment.
A period of rising prices and diminishing employment is known as stagflation, and it is often correlated with a sluggish economy. This can be brought on by a combination of elevated inflation and weak or negative economic development, creating a challenging business and personal environment.
Stagflation can result in decreased borrowing and higher borrowing rates, which can worsen the current economic recession. This phrase gained popularity in the 1970s amid a time of high inflation and economic stagnation that affected many industrialized nations, including the United States.
To battle stagflation, economists and decision-makers must use a variety of tactics, including raising public expenditure, decreasing taxes, and lowering interest rates.
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Budget = $2000/month for food and gasoline. Price of meals = $20/meal, Price of gasoline = $5/gallon Use q1 to stand for number of meals and q2 for gallons of gas. The budget constraint is: 1) 2000 = q1+q2 2) 2000 = (1/20)q1+(1/5)q2 3) 2000 = 5q1+20q2 4) 2000 = 20q1+5q2
The budget constraint can be written as 2000 = 20q1 + 5q2. Therefore, the correct option 4.
The given problem statement is about the budget and prices of meals and gasoline. Here, q1 is used to represent the number of meals and q2 for gallons of gas. The budget constraint is provided, which is: Budget = $2,000/month for food and gasoline. Price of meals = $20/meal. Price of gasoline = $5/gallon.
A budget constraint represents the limit of the expenditure that can be made. The two products that are used from the budget are meals and gasoline. The budget constraint can be written as:
Total budget = Price of meals x Unit price of meals + Price of gasoline x Unit price of gasoline
In the given case.
2000 = 20q1 + 5q2
The total prices of meals and gas are added to obtain the total expense. The given option that represents the budget constraint is option 4: 2000 = 20q1 + 5q2.
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4) A company that uses the perpetual inventory system purchases inventory for $62,000 on account, with terms of 2/10, n/30. Which of the following is the journal entry to record the payment made within 10 days? A) a debit to Accounts Payable for $62,000, a credit to Cash for $1,240, and a credit to Merchandise Inventory for $60,760 B) a debit to Merchandise Inventory for $1,240, a debit to Accounts Payable for $62,000, and a credit to Cash for $63,240 C) a debit to Accounts Payable for $62,000, a credit to Merchandise Inventory for $1,240, and a credit to Cash for $60,760 D) a debit to Accounts Payable for $60,760, a debit to Merchandise Inventory for $1,240, and a credit to Cash for $62,000
The journal entry to record the payment made within 10 days is a debit to Accounts Payable for $62,000, a credit to Merchandise Inventory for $1,240, and a credit to Cash for $60,760. Therefore, the correct answer is C.
This journal entry records the payment made within 10 days, which follows the terms of 2/10, n/30. This means that the company must pay a 2% discount if the payment is made within 10 days and the full balance of $62,000 if the payment is made within 30 days.
Since the payment is made within 10 days, the company will receive a 2% discount of $1,240, meaning the net payment is $60,760. Therefore, the journal entry would be a debit to Accounts Payable for $62,000, a credit to Merchandise Inventory for $1,240, and a credit to Cash for $60,760.
Hence, the correct option for a company that uses the perpetual inventory system purchases inventory for $62,000 on account, with terms of 2/10, n/30 is C.
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M4 Discussion: Case Study 2 Discussion Topic You've done such a great job convincing the CEO and CFO that your organization should develop strategies and plans for hiring and promoting more women in to management positions, that you now have to present your plans. Using the readings from this module, post at least three programs you will recommend to your senior management. You must also include your rationale for each program -why you think it will work, what you hope you will achieve, etc. After you have posted, please read and respond to classmate's posts. You can review the material on discussion posts found in the Course Introduction.
Diversity and inclusion initiatives, leadership development initiatives, and mentoring programmes By increasing the proportion of women in management roles, these programmes can assist solve the issues faced by women in the workplace.
What are the mentoring process' four pillars?Be aware of the four pillars of mentorship: communication, trust, respect, and expectation, whether you're the mentor or the mentee. Improved satisfaction will result from spending a few minutes explicitly outlining the relationship expectations and communication logistics.
What serves as a mentor's purpose?The goal of mentoring is to assist mentees in gaining access to the knowledge of those with more experience than themselves so they can learn more quickly than they otherwise would. They can expand their network and establish connections with influential people other than just their peers.
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at the account opening stage, which of the following customer actions would not be an indicator of potential money laundering?a concern regarding the firm's government reporting requirementsb difficulty describing his or her work or lack of industry knowledgec uncertainty about his or her investment objectives and needsd ordering transactions that are inconsistent with his or her stated objectives
The correct answer is b - difficulty describing his or her work or lack of industry knowledge.
All of the other options would be indicators of potential money laundering.
The other actions, including difficulty describing his or her work or lack of industry knowledge, uncertainty about his or her investment objectives and needs, and ordering transactions that are inconsistent with his or her stated objectives, are all indicators of potential money laundering. This is because money launderers often have difficulty describing their work or lack industry knowledge, which they use as a cover-up to avoid being caught.
The other indicators of potential money laundering, which are uncertainty about investment objectives and needs and ordering transactions that are inconsistent with stated objectives, occur when the customer's transactions are outside of the usual range of activities that are expected from someone in their particular industry or line of work. As such, these actions can indicate that the customer may be using their accounts to launder money. Therefore, these actions are indicators that should be closely monitored by financial institutions that wish to prevent money laundering in their accounts.
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Gold Mine Limited, has $4,800,000 in assets and has approached their bank for additional financing.
The breakdown of the company's assets is as follows: Temporary current assets $1,600,000 Permanent current assets 1,530,000 Capital assets 1,670,000 Total assets $4,800,000 Their banker has advised that short-term rates are 12 percent and long-term rates are 17 percent. The company's earnings before interest and taxes are $1,020,000 and they pay corporate taxes at the rate of 40 percent. If then go with a perfectly hedged financing plan advise Gold Mine Ltd.
what their earnings after taxes will be? Earnings after taxes：
Approach to financing for Gold Mine LimitedGold Mine Limited, which has $4,800,000 in assets, has approached its bank for additional financing.
The company's assets are divided into three categories: temporary current assets, permanent current assets, and capital assets. The banker has stated that short-term rates are 12%, long-term rates are 17%, and that the company's earnings before interest and taxes are $1,020,000. They pay taxes on their corporate tax at a rate of 40 percent, and they want a perfectly hedged financing plan. The earnings after taxes should be advised for Gold Mine Limited. What are the earnings after taxes? We will begin by computing the interest rate.
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TB MC Qu. 17-110 (Algo) Steel Company uses activity-based... Steel Company uses activity-based costing and reports the following for this year. Allocate overhead costs to a job that uses 40 machine hours and 30 direct labor hours. Multiple Choice$3,233. $2,950. $5,410. $3,447$5,270.
To allocate overhead costs to a job using activity-based costing, we need to calculate the cost allocation for each activity based on the budgeted cost and the budgeted activity usage. After calculation the overhead costs is $3.240. The correct option is C.
Overhead costs refer to the indirect expenses incurred by a business that are not directly tied to the production of a specific product or service. These costs are necessary for the overall functioning and support of the business operations but cannot be easily allocated to individual products or services.
Thus, the ideal selection is option C.
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The complete question might be:
TB MC Qu. 04-110 (Algo) Steel Company uses activity-based... Steel Company uses activity-based costing and reports the following for this year. Allocate overhead costs to a job that uses 40 machine hours and 40 direct labor hours. Activity Cutting Assembly Total Budgeted Cost $ 57,500 252,000 $ 309,500 Activity Cost Driver Machine hours (MH) Direct labor hours (DLH) Budgeted Activity Usage 2,300 machine hours 6,300 direct labor hours Multiple Choice O $2,600. O $3,000. $3.240. O O $2.860. 이 $2,260
Scenario: After checking out of a hotel, Vera ate breakfast in the hotel’s dining room. She then drove downtown to attend a meeting. After a long day, she returned to the hotel to
fetch the bags she had left in her room. To her surprise, the room had been re-rented and was now occupied by a dentist who was attending a conference. The new occupant claimed to know nothing about her belongings. The bags were never found. Question: Did the hotel have a responsibility with respect to Vera’s luggage? If so, of what did the responsibility consist of?
Indeed, the hotel had a duty to take care of Vera's luggage. Vera had a legitimate expectation that while she was a guest at the hotel, her possessions would be secure.
Did the hotel have a responsibility with respect to Vera’s luggage? If so, of what did the responsibility consist of?Hotels are required by common law to take reasonable precautions to prevent theft or damage to their visitors' personal belongings. Hence, the hotel was required to take reasonable measures to guarantee Vera's possessions were safe both during her stay and after she checked out. This includes making sure that her room wasn't re-rented until all of her possessions were taken out or securely stored. Vera's luggage is the hotel's responsibility, and the business has an obligation to take reasonable precautions to keep her goods safe from theft and harm. The hotel might be held accountable for any losses or damages that Vera suffered as a result of their carelessness if they didn't carry out their duty.
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classic works which have profoundly influenced modern strategic management include on war by clausewitz, the prince by machiavelli, and the art of war by sun tzu. after reading the associated wikipedia entries (and your reading assignments), which one do you personally view to be the most relevant reference for modern-day strategic management?
Strategic management is one of the critical functions that determine the success of an organization. It involves the formulation and implementation of the major goals and initiatives undertaken by an organization's top management. The most relevant reference for modern-day strategic management, we need to examine the three classic works mentioned above.
The Art of War by Sun Tzu is an ancient Chinese military treatise that dates back to the fifth century BC. It is one of the most influential works on military strategy and tactics are ever been written. Sun Tzu's ideas have profoundly influenced modern strategic management, and his insights have been applied to business, politics, and sports.On War by Clausewitz is a book on military strategy that was published in the early nineteenth century. It is considered to be one of the most important works on military strategy and has been widely studied in military academies and war colleges around the world.The Prince by Machiavelli is a book that was written in the early sixteenth century. It is a treatise on political theory and is famous for its ruthless and pragmatic approach to leadership. Machiavelli's ideas have been applied to business management and have influenced the way leaders to think about power, influence, and leadership.Of the three classic works, The Art of War by Sun Tzu is the most relevant reference for modern-day strategic management. Sun Tzu's ideas are still relevant today and can be applied to a wide range of strategic management contexts. His concepts of deception, speed, and flexibility are particularly relevant to today's fast-paced business environment.Learn more about strategic management: https://brainly.com/question/24845876
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In your own words describe and provide an example of the
Functional theory and how it relates to social issues in Canada or
globally.
The Functional Theory is a sociological perspective that emphasizes the interdependence of various social institutions and the contribution of each institution to the overall stability and functioning of society. An example of the Functional Theory in action could be the healthcare system in Canada.
The Functional Theory, suggests that each part of society has a specific function or purpose that contributes to the overall well-being of society. When all parts of society are functioning correctly and harmoniously, society is said to be in a state of equilibrium.
The healthcare system has many different parts including hospitals, clinics, doctors, nurses, and other healthcare professionals. Each part has a specific function to contribute to the overall functioning of the system. Doctors diagnose and treat patients, nurses provide care and support, hospitals provide a place for treatment and recovery, and clinics provide preventative care and other services.
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An analyst has timed a metal-cutting operation for 50 cycles. The average time per cycle was 10.40 minutes, and the standard deviation was 1.20 minutes for a worker with a performance rating of 125 percent. Assume an allowance of 16 percent of job time. Find the standard time for this operation.
After calculating, the standard time for this operation is approximately 15.36 minutes per cycle.
To calculate the standard time for the operation, we need to consider the basic time (average time per cycle), the performance rating, and the allowance factor. The formula for calculating the standard time is as follows:
Standard Time = (Basic Time) * (Performance Rating) * (1 + Allowance Factor)
Given the values:
Basic Time = 10.40 minutes per cycle
Performance Rating = 125% (or 1.25 as a decimal)
Allowance Factor = 16% (or 0.16 as a decimal)
Plugging these values into the formula:
Standard Time = 10.40 * 1.25 * (1 + 0.16)
Standard Time = 10.40 * 1.25 * 1.16
Standard Time = 15.36 minutes per cycle
So, the standard time for this operation is approximately 15.36 minutes per cycle.
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a manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: selling price $ 146 units in beginning inventory 0 units produced 2,470 units sold 2,040 units in ending inventory 430 variable costs per unit: direct materials $ 50 direct labor $ 20 variable manufacturing overhead $ 11 variable selling and administrative expense $ 19 fixed costs: fixed manufacturing overhead $69,160 fixed selling and administrative expense $20,400 the total gross margin for the month under absorption costing is: multiple choice $75,480 $16,320 $83,040 $93,840
The total gross margin for the month under absorption costing is $16,320.
The gross margin under absorption costing is calculated as: Gross Margin = Sales - Cost of Goods Sold. The Cost of Goods Sold is calculated as follows:
Cost of Goods Sold = Beginning Inventory + Cost of Goods Manufactured - Ending Inventory
Cost of Goods Manufactured
= Direct Materials + Direct Labor + Variable Manufacturing Overhead + Fixed Manufacturing Overhead (absorption costing) + Variable Selling and Administrative Expense
= $50 + $20 + $11 + $69,160/2470 + $19
= $100.80/unit (rounded to two decimal places)Cost of Goods Sold
= 0 + (2470 x $100.80) - 2040 x $100.80) = $208,656
Gross Margin = $294,840 - $208,656 = $86,184
However, the question requires the total gross margin under absorption costing, which includes both fixed and variable manufacturing overheads. Therefore, we need to add fixed manufacturing overheads to our cost of goods sold calculation.
Fixed Manufacturing Overhead under absorption costing = Fixed Manufacturing Overhead rate x Number of units produced= $69,160/2,470= $28 per unit
Total Gross Margin = Sales - (Variable Costs per unit x Units sold + Fixed Manufacturing Overhead + Fixed Selling and Administrative Expense)= $294,840 - (2040 x $100.80 + $69,160 + $20,400)= $16,320. Answer: $16,320.
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FILL IN THE BLANK As figures for 2019 reflect, the globalization of the world economy has resulted in a relative _____ in the dominance of U. S. Firms in the global marketplace
As figures for 2019 reflect, the globalization of the world economy has resulted in a relative decline in the dominance of U. S. Firms in the global marketplace.
The process of contact and integration between individuals, organizations, and governments on a global scale is known as globalization or globalization.
Unopposed as the world's economic leader as we enter the 21st century, the United States represents a stunning turnaround from the 1980s when many Americans questioned the country's "competitiveness." Few had anticipated the recovery in productivity growth, the driving force behind increases in average living standards, from a 25-year fall of just over 1 percent annually to about 2.5 percent since 1995.
The effects of globalization have increased competition. This competition may be based on variables like the target market, the ability of a corporation to adapt to new technologies, how quickly it responds, the cost of the good or service, etc. When a company produces its goods at a lower cost and sells them for less money, it can increase its market share.
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if the number of employed persons in a country equals 24 million, and the number of persons in the labor force equals 32.12 million, the unemployment rate equals (should be a percent. round to two decimal places):
The unemployment rate is 24.7%.
This can be calculated by subtracting the number of employed persons (24 million) from the number of persons in the labor force (32.12 million). The resulting figure (8.12 million) is then divided by the labor force (32.12 million). This is then expressed as a percentage and rounded to two decimal places, giving us 24.7%.
The unemployment rate is an important indicator of a country's economic health and is calculated by comparing the number of persons employed to the number of persons in the labor force. It is expressed as a percentage and represents the proportion of people in the labor force who are currently unemployed.
Knowing the unemployment rate of a country can help determine whether the economy is growing, shrinking, or stable. It is also used to inform economic policy decisions, such as the creation of jobs, tax relief, and other economic stimulus programs.
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How much is $200,000 receivable from a lottery at the end of 20
annual installments worth today? This is an application of the
present value of an ordinary annuity.
Group of answer choices
True
False
The statement "This is an application of the present value of an ordinary annuity" is true when considering the question "How much is $200,000 receivable from a lottery at the end of 20 annual installments worth today?"
The Present Value of Annuity (PV) is a mathematical formula that calculates the current value of a series of future equal cash flows. This concept is important in finance because it allows us to measure the current value of an investment's future income stream. This formula is commonly used in mortgages, loans, and retirement planning to determine the current value of a series of future payments that are made at equal intervals over a period of time.
In this context, the present value of an ordinary annuity would be used to calculate the current value of $200,000 receivable from a lottery at the end of 20 annual installments. Therefore, the statement "This is an application of the present value of an ordinary annuity" is true when considering the given question.
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Beginning inventory, purchases, and sales data for prepaid cell phones for December are as follows:
Inventory Purchases Sales Dec. 1 2,300 units at $20 Dec. 10 1,150 units at $22 Dec. 12 1,610 units
Dec. 20 1,035 units at $24 Dec. 14 1,380 units
Dec. 31 690 units
a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.
On December 1, the initial inventory consists of 2,300 devices at a cost of $20 for each unit, for a total cost of $46,000.
What do Inventory Purchases mean?Inventory purchases refer to the quantity and cost of goods or products that a company has acquired during a specific period of time for the purpose of reselling or using them in the production process. It represents the amount of inventory that a company has acquired during a given period, and is recorded as an increase in the inventory asset account on the balance sheet.
To determine the cost of goods sold for each sale and the inventory balance after each sale, we need to use the LIFO method.
The beginning inventory on Dec. 1 consists of 2,300 units at a cost of $20 per unit, for a total cost of $46,000.On Dec. 10, the company purchased 1,150 units at a cost of $22 per unit, for a total cost of $25,300. The ending inventory balance is 3,450 units at a total cost of $73,645, which is calculated as follows: beginning inventory + purchase = $46,000 + $25,300 = $71,300. The ending inventory unit cost is $21.33, which is calculated as explained above.On Dec. 12, the company sold 1,380 units at a cost of $22 per unit, for a total cost of $30,360. The cost of goods sold is calculated as 1,380 units x $21.33 = $29,401.40. The ending inventory balance is 2,070 units at a total cost of $44,093.10, which is calculated as follows: ending inventory balance after Dec. 10 - the cost of goods sold on Dec. 12 = $73,645 - $29,401.40 = $44,243.60.On Dec. 14, the company purchased 1,610 units at a cost of $24 per unit, for a total cost of $38To learn more about the balance sheets, click
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Paneer owns 40% of Lassi and has done so for many years.
During the year ended 31 December 20X1, Lassi made a net profit of £1.5m. Lassi sold inventory costing £1m to Paneer at a mark-up of 50%. 30% of the goods are still in Paneer’s inventory at the year end.
What is the "Income from associates" to be shown in the consolidated Statement of profit or loss for the year ended 31 December 20X1?
a. £1,300,000
b. £150,000
c. £390,000
d. £450,000
e. £250,000
f. £300,000
g. £360,000
The "Income from associates" to be shown in the consolidated financial statement of profit or loss for the year ended 31 December 20X1 is £450,000. Therefore, the correct option is d.
Lassi made a net profit of £1.5m. 30% of the goods are still in Paneer’s inventory at the year-end. Inventory cost - £1m Markup - 50% Paneer owns 40% of Lassi. Assuming the 40% shareholding is an associate in accordance with IAS 28, the equity accounting method will be used to recognize the investment in the consolidated financial statements.
Income from associates can be determined using the following formula:
Revenue of the associate (from intercompany transactions) × the investor’s shareholding (%)
Less: cost of the goods sold from intercompany transactions (if not already deducted from revenue)× the investor’s shareholding (%)
Add: share of the associates' profit or loss x investor's shareholding (%
)For the year ended 31 December 20X1
Income from associates = [(1m * 1.5) - (1m * 0.5)] * 0.4 + (1.5 * 0.4 * 0.6)
Income from associates = (1m * 1) * 0.4 + 0.36m = 0.4m + 0.36m
Income from associates = £760,000
Less: Income recognized in previous years = £760,000 (given)
Income from associates to be recognized in the consolidated Statement of profit or loss for the year ended 31 December 20X1 = £760,000 – £310,000
Income from associates to be recognized in the consolidated Statement of profit or loss for the year ended 31 December 20X1 = £450,000
Therefore, Income from associates to be shown in the consolidated Statement of profit or loss for the year ended 31 December 20X1 is £450,000.
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