Lean practices are a collection of strategies and techniques that seek to reduce waste while maintaining customer satisfaction. Lean practices include the following instances:
Total quality management (TQM) is a management strategy that emphasizes customer satisfaction and ongoing development. The service focus is the practice of putting the wants and expectations of the client first.
Continuous improvement is a strategy that fosters finding and fixing process flaws and inefficiencies. The goal of just-in-time (JIT) manufacturing is to make goods such that they can be delivered to the consumer. This decreases waste and the demand for inventory storage.
Traditional manufacturing isn't seen as a lean method because it prioritizes mass production, keeps a lot of inventory, and doesn't focus on continuous improvement or customer happiness.
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suppose that canada produces syrup and lumber. resources are not specialized meaning that the same set of input is equally productive for making syrup or lumber. the shape of canada's production possibilities frontier is linear because the opportunity cost of producing more syrup, in terms of lumber remains constant with each additional syrup produced
Canada's production possibilities frontier is linear when it comes to producing syrup and lumber because the resources used to produce these goods are not specialized.
This means that the same set of inputs are equally productive for making syrup or lumber. As a result, the opportunity cost of producing more syrup, in terms of lumber, remains constant with each additional unit of syrup produced. This means that for every additional unit of syrup produced, the same amount of lumber must be given up. The slope of the production possibilities frontier represents the opportunity cost of producing one good in terms of the other good. In this case, the slope is constant, which results in a linear production possibilities frontier. Therefore, as Canada moves along the production possibilities frontier, it is able to produce more of one good only by giving up an equal amount of the other good.
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Interest is a payment
A:All of these are correct
B:You make to someone from whom you borrow money.
C: You receive from someone who has loaned you money.
D:You make to someone to whom you loan money.
Interest is a payment you make to someone from whom you borrow money, you receive from someone who has loaned you money or you make to someone to whom you loan money.
What does interest on a loan mean?
The fee you pay to borrow money or the fee you charge to lend money is called interest. The most common way to represent interest is as a yearly percentage of the loan amount. The interest rate on the loan is known as this percentage. Interest thus guards against future inflationary increases. The interest is used by a lender, such a bank, to handle account fees as well. Borrowers must pay interest as a cost for being able to spend money now rather than having to wait years to save enough money.
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contract is often used in situations where the scope of work is not well defined, the costs of the project are uncertain, or where there is a high level of risk involved is called
a cost-plus agreement.
A cost-plus contract is one where the contractor receives payment for all actual project expenses in addition to a predetermined fee (or "profit") for the contractor. Since the contractor has no incentive to manage costs, the major drawback of this sort of contract is that it may result in cost overruns.
When the project's expenses are unknown or the scope of the job is not clearly defined, this sort of contract is employed. It's a sort of contract where the contractor receives payment for all actual expenses related to the project together with a predetermined fee (or "profit") for the contractor. In spite of any project-related uncertainties or risks, this enables the contractor to pay their expenses and turn a profit. Additionally, it enables the contractor to assume greater risks than they otherwise could.
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Which one of the following is NOT the stage that customers go through in the process of adopting a new product? a. Awareness b. Interest c. Evaluation d. Culture
D: Culture is not the stage that consumers go through in the process of adopting a new product.
The customer adoption process refers to the stages that a customer goes through as they learn about, evaluate, and ultimately decide to use a new product or service.
Awareness: The customer becomes aware of the product or service and begins to gather information about it.Interest: The customer expresses interest in the product or service and begins to evaluate whether it meets their needs.Evaluation: The customer compares the product or service to alternatives and decides whether to purchase it.Trial: The customer may test or use the product or service on a trial basis before committing to a purchase.Adoption: The customer decides to fully adopt and use the product or service.Confirmation: The customer confirms that the product or service meets their expectations and continues to use it.Advocacy: The customer becomes an advocate for the product or service and recommends it to others.Thus, it can be seen clearly tha culture is no the stage that consumers go through in the adoptation process of a new product.
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a master service agreement (msa) is a contract that defines the terms of future contracts between parties, such as payment terms or arbitration arrangements.
a. true
b, false
The given stataement "a master service agreement (MSA) is a contract that describes the terms of future contracts between parties, such as arbitration arrangements or payment terms" is true because it correctly define what MSA is.
A Master Service Agreement (MSA) is a legal contract between two parties that defines the terms and conditions under which one party will provide services to the other. MSAs are often used in business-to-business relationships, particularly in industries such as consulting, technology, and outsourcing.
Therefore, MSA) is a typical contract between parties that lists out the terms that govern all of their future agreements or future transactions.
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If the Mount Lemmon fire district attempts to implement H diversity initiatives, but these initiatives are defeated because the district is concerned that younger firefighters will be treated worse as a result
The barrier that this would describe as shown in the relevant section is negative diversity climate.
What does Negative Diversity Climate mean?This refers to an environment that does not favor diversity. Its stems from the notion that diversity would cause harm to those it is meant to favor.
If the age diversity is implemented in the fire district to help younger firefighters, they would be treated worse. This is therefore a negative diversity climate because the people to be helped will be worse off. In conclusion, this is a negative diversity climate.
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A Systems of Records Notice (SORN) serves as a notice to the public about a system of records and must:
Specify routine uses (how the information will be used)
Be republished if a new routine use is created
Be provided to Office of Management and Budget (OMB) and Congress and published in the Federal Register before the system is operational
All of the above
A system of records, as defined by the Privacy Act, is a collection of records from which data may be retrieved using a person's name or any other unique identification that has been allocated to them.
What is system of records?A data management word for an information storage system that serves as the authoritative data source for a certain data element or piece of information is "system of record" or "source system of record." A system of records, as defined by the Privacy Act, is a collection of records from which data may be retrieved using a person's name or any other unique identification that has been allocated to them. A customer relationship management (CRM) system is one of the most popular. Other ones include customer systems of record, record-keeping financial systems like SAP, and record-keeping systems for human resources. A system of record is something like a CRM programme.
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Scenario C. Jorge, the office manager of Metalblock Inc., believes that providing positive consequences for a job well done will increase the likelihood of good work performance in the future. Jorge personally sends e-mails to his employees to commend their efforts when they perform well. Karla, the CEO of Descriptive Designs Inc., takes her employees off probation early when they perform to her expectations. Barney, the sales manager of Queenstar Corp., often shouts at his employees when they perform poorly. He also fails to appreciate employees when they perform well, which often results in poor performances. From Scenario C., it can be inferred that Jorge believes in the law of demand. relativity return equity. effect
Barney has failed to appreciate his employees when they perform well, which has resulted in poor performances, is an example of extinction.
What is extinction in business management?Extinction is the method through which an acquired behavior or response is forgotten, unlearned, or put out of mind. The goal of extinction, like that of punishment, is to stop undesirable conduct.
In order to reduce the likelihood that a learnt behavior will persist, a desirable behavioral outcome must be withheld at some point in the extinction process. This is probably going to lead to that conduct discontinuing in time. By taking away the reinforcement that is known to keep a hard behavior going, extinction techniques eventually lessen or abolish a habit that is kept going by escape or attention.
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The correct question is:
Jorge, the office manager of Metalblock Inc., believes that providing positive consequences for a job well done will increase the likelihood of good work performance in the future. Jorge personally sends e-mails to his employees to commend their efforts when they perform well. Karla, the CEO of Descriptive Designs Inc., takes her employees off probation early when they perform to her expectations. Barney, the sales manager of Queenstar Corp., often shouts at his employees when they perform poorly. He also fails to appreciate employees when they perform well, which often results in poor performances.
Barney has failed to appreciate his employees when they perform well, which has resulted in poor performances. This is an example of
angela jones is considering two investments. the first produces $5,000 of tax-exempt income. the second produces income that will be subject to tax at a rate of 15%. which of the following statements is true regarding angela's choice? group of answer choices
According to the two investments stated and considered by Angela, both of the statements stand true as she gains profitable income in both of the investments.
If the second investment generates $5,500 of before-tax income, Angela should choose the first investment and if the second investment generates $6,500 of before-tax income, Angela should choose the second investment, so both of the statements are true. An investment is an asset or item purchased with the intention of earning revenue or increasing in value. An increase in the value of an asset over time is referred to as appreciation. When a person buys a good as an investment, the intention is not to consume the good but rather to use it to build wealth in the future.
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communication needs: first semester at college sarah was from a small town in southeast texas. after finishing up high school, she went off to a large university in a major city. during those first few weeks on campus, she often had to ask for directions to find her way to class. to combat homesickness, sarah became friends with her roommate and also joined the college debate team to meet new people. after winning a round of debate, her teammates gave her a high five. at that moment sarah knew she would enjoy this extracurricular activity. sarah had always firmly believed in the value of a good education, but in high school she never thought of herself as a good student. after such positive interactions with her new friends and teammates, she completed her freshman year with a 4.0 gpa. now she thinks of herself as a good student.
The debate team,Sarah's making friends with her roommate and joining the debate team are examples of relational needs.
What do communication relationship demands entail?Communication, relational needs are those that help us continue to form and sustain personal and societal bonds. Speaking to meet our relational needs enables us to develop the social connection that is a fundamental component of being human, while speaking to meet our instrumental needs improves our ability to operate on many levels.Relational needs are those that arise from interactions among individuals, and being aware of these needs in both ourselves and others helps to establish and promote interpersonal ties. Understanding these requirements can also help us better comprehend our own emotions, behaviours, and motivations as well as those of other people.To learn more about communication needs refer to:
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Investing in foreign markets
Companies and investors access international markets to generate external funding as well as to tap investment opportunities overseas.
Your financial planner advises you to allocate 10% of your portfolio in foreign stocks for diversification purposes. Your portfolio has a total international exposure of $1,000,000, but you also face certain risks. Keeping other factors constant, which of the following statements describes the risk involved with investing in the international market?
The value of your investment will increase if the value of the dollar increases relative to the currencies of the investment.
The value of your investment will increase if the foreign stocks increase in their local markets.
Option B is correct in the context of risk associated with Investing in foreign markets is The value of your investment will increase if the foreign stocks increase in their local markets.
International based creation offices offer many benefits to a money management organization on the off chance that the unfamiliar market is little.
A possession stake in an unfamiliar organization or venture is known as an Foreign direct investment (FDI) and is made by an unfamiliar financial backer, business, or government.
Commonly, the expression alludes to a corporate choice to purchase a sizable piece of an unfamiliar organization or to get it out and out to extend tasks to another area. The expression is regularly not used to allude to a stock buy in a solitary abroad firm. FDI is a urgent part of worldwide monetary combination since it fashions solid, enduring ties between countries' economy.
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suppose that the supply curve of healthcare services is perfectly inelastic (i.e., vertical supply curve that is completely unresponsive to price changes). analyze the effect of an increase in consumer income on the market price and quantity of the services. now, suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. analyze the effect of an improvement in the technology of production on the market price of healthcare services.
The demand for medical services will shift to the left in this circumstance. As a result, the equilibrium cost for medical services will rise.
However, because the supply curve is completely inelastic, this price change will have no impact on the equilibrium level of medical services. When the demand for a good or service is fully elastic, the supply does not respond to changes in price. In this case, the supply curve is vertical and parallel to the price axis. As the consumer's income decreases, less medical care will be needed.
The price elasticity of supply, which measures the percentage change in the volume of an item delivered when the price changes by one percent, is a key concept in economics. The supply of an item or service may be entirely elastic, fully inelastic, slightly elastic, or comparatively inelastic.
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you deposit $3600 in a bank account. find the balance after 4 years for each of the following situations. round your answers to the nearest hundredth. a. the account pays 2.25% annual interest compounded monthly.
When you receive interest on both the principal amount of your savings and any previous interest, this is known as compound interest.
What is compound interest?The cost of using borrowed money is interest, or more specifically, the compensation a lender receives for providing funds to a borrower. The borrower will typically pay a portion of the principal as interest when making payments (the borrowed amount). Simple interest and compound interest are two ways to classify the idea of interest.The term "simple interest" refers to interest that is only generated on the principal, which is typically expressed as a specific percentage of the principal. Simply multiply the principal by the interest rate and the total number of periods the loan is in effect to get the amount of interest due.
Example
Current Principal: $ 3,600.00
Annual Addition: $ 100.00
Years to grow: 4
Interest Rate: 2.25 %
Future Value: 4,358.11
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The account pays 2.25% annual interest compounded monthly, so the amont is 3,938.70.
What is Compound interest?Compound interest, often known as interest on principle and interest, is the adding of interest to the loan or deposit principal.
First, convert R as a percent to r as a decimal
r = R/100
r = 2.25/100
r = 0.0225 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 3,600.00(1 + 0.0225/1)(1)(4)
A = 3,600.00(1 + 0.0225)(4)
A = $3,938.70
Summary:
The total amount accrued, principal plus interest, with compound interest on a principal of $3,600.00 at a rate of 2.25% per year compounded 1 times per year over 4 years is $3,935.10.
The account pays 2.25% annual interest compounded monthly, so the amont is 3,938.70.
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Which of the following is true of specialization? Please choose the correct answer from the following choices, and then select the submit answer button. The gains from trade are due to specialization. Specialization was an important theory in the eighteenth century, but is no longer relevant today. Specialization results in a decrease in output. People should diversify and specialize in many things.
The gains from trade are due to specialization is a correct answer about specialization.
The division of duties into roles, with each employee specializing in one of them, is what specialization entails. Because specialization reduces production costs, it has helped businesses become more productive over time. Countries are included in this. According to theories of international commerce, nations develop by focusing in areas where they have a competitive edge in terms of output. As a result, a nation that grows a lot of grapes might specialize in making wine and export it. In contrast, this nation is permitted to import goods in which it is not an expert. As a result of specialization, global trade benefits everyone.
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Out of the given choices above, the statement, ''the gains from trade are due to specialization,'' is the one that is true of specialization. Therefore, the option A holds true.
The essence of specialization can be brought into interpretation as the delegation of a particular task to different activities to a dedicated group or team. Specialization on one activity enables the companies to provide the best of their services to the customer and also improve the experience for themselves. As a result, the business will gain trades of different kinds of specialization.
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Assuming that a corporation has good values, which of the following statements about the alignment of personal values and corporate values are true? (All that apply)A. Matching personal values with corporation values is a key element of character.
B. Having misaligned personal and corporate values is unethical and is grounds for immediate dismissal.
C. Having personal values in conflict with corporate values helps develop credibility in the workplace.
D. If personal values are not in alignment with corporate values, a lack of integrity is possible.
A. Matching personal values with corporation values is a key element of character. D. If personal values are not in alignment with corporate values, a lack of integrity is possible.
What are corporate values?
Company values, also known as corporate values or core values, are a set of guiding principles and essential ideas that help a group of individuals work together to achieve a common business goal. These principles are frequently associated with customer interactions, business partnerships, and business growth. We respect everyone and conduct ourselves professionally. Integrity: Trust is built through moral behavior and genuine connections. Teamwork: When we work together as a group, we achieve more. Clear company values make it easier to ensure that all employees are working toward the same goals. Your company's culture is shaped and supported by your fundamental principles. As a result, these values should guide every business decision.
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For this week's discussion, review the scenario provided and answer the following questions:
Andy purchased a one-acre tract of land with an ocean view from Bob for $1,000,000. One hour before
escrow closes on the deal, Charlie, who knows of the pending sale to Andy, offers Bob $2,000,000 for the
one-acre tract of land and Bob accepts. One hour later when escrow closes, Bob informs Andy that the sale
cannot go forward because the property has been sold to Charlie.
Why a breach of contract occurred
Any time a party to a deal breaches one of the promises made, there has been a breach of the contract.
Which contract violation occurs more frequently?The most frequent form of contract breach remedy is compensatory damages. When compensatory damages are granted, a court requires the party who violated the contract to give the victim enough money to fulfill their contractual obligations elsewhere.Any time a party to a deal breaches one of the promises made, there has been a breach of the contract. Given how frequently contracts are broken, a substantial body of law has developed to settle the resulting conflicts.Any time a party to a deal breaches one of the promises made, there has been a breach of the contract.To learn more about contract violation refer to:
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lassiter industries purchased equipment for $140,000. lassiter expects to use the equipment over the next 10 years. recording this transaction would include a multiple choice question.
Lassiter industries purchased equipment for $140,000. lassiter expects to use the equipment over the next 10 years. recording this transaction would include Debit to equipment for $140,000.
What exactly is a transaction?
A transaction is a business event that affects the financial statements of an entity financially and is noted as an entry in the accounting records of that entity.
The following are a few examples of transactions: paying a supplier for products or services received.
Which of the following includes a list of transactions that have an impact on each account?
The information required to create the balance sheet and income statement comes from a general ledger (GL), which keeps track of all activities that have an impact on a company's accounting components such assets, liabilities, equity, expenses, and revenue.
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Dora's Delivery Company has $12,000 of total assets and around $4,000 of total owner's equity. Therefore liabilities must equal $______
The total value of Dora's Delivery Company's assets and owner equity are $12,000 and around $4,000, respectively. Therefore, liabilities must equal $8,000.00.
What are commitments?A liability is a financial debt that an individual or organisation owes. Liabilities are finally paid through the transfer of economic advantages like money, goods, or services.
On the balance sheet's right side, liabilities are things that include debts like loans, accounts payable, mortgages, deferred revenue, bonds, warranties, and accumulated expenses.
Liabilities and assets can be contrasted. Liabilities are things you have borrowed money from or owe money on; assets are things you possess or owe money on.
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How will you create the desired outcome?
To create the desired outcome, it is important to strategize and plan. Only a foolproof strategy and having set objectives can help create the desired outcome.
Having a clear goal or objective can help you understand more about the efforts required to achieve the objective and how they will affect your desired outcome.
When an objective is desired, there are many ways to approach it, and several processes are to be taken into consideration. It is important to understand the target before considering strategies or processes. Each process might lead to a different outcome. Hence, a desired outcome can only be created by proper analysis of each process.
After thoroughly reviewing each possibility of approaching the goal, the process that seems more concrete and foolproof and is more inclined towards the goals set can be considered, and the outcome will be the desired outcome.
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mr. and mrs. gasson own 100% of the common stock of able corp. and 90% of the common stock of baker corp. able previously paid $4,000 for the remaining 10% interest in baker. the condensed december 31 balance sheets of able and baker are as follows:
A is correct. A compound financial statement is a term used to describe financial statements prepared for companies owned by the same parent company or individual.
They are prepared by aggregating all financial statements of subsidiaries. Intercompany transactions are eliminated as in the consolidated financial statements. Able's and Baker's shareholders' stock accounts add up to a total of $430,000 ($100,000 + $20,000 + $300,000 + $10,000). Intercompany balances ($4,000 investment in Baker, $4,000 common stock) should be eliminated to reduce total shareholders' equity to $426,000 ($430,000 - $4,000).
B is incorrect. This is because the combined capital is the sum of Able and Baker ($100,000 + $300,000 + $20,000 + $10,000 = $430,000) minus intercompany transactions ($430,000 - $4,000 = $426,000).
C is incorrect. The $4,000 intercompany deal isn't going away.
D is incorrect. Baker is not consolidated without intercompany transactions.
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In analyzing a market system, economists often assume that firms will choose the production techniques that will give them maximum revenues True or False
False, economists do not always choose the production method that will provide them with the most technological advancement.
What presumptions are included in the economic models that economists use?assumptions made by economists in their economic system. Their models are based on a number of presumptions, such as that each actor makes decisions with perfect knowledge and that it is possible to quantify the subjective nature of human values. Some models even take marketing, replacement products, and rivalry into account.
What exactly does the term "economist" mean?A specialist in economics examines the connection between such collective resources and their output or production. Small, local communities, entire countries, and even the world economy are all studied by economists.
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2. the four types of standpipe systems are automatic wet, automatic dry, manual wet, manual dry.
The four types of standpipes:
Wet system. Automatic dry standpipe. Semi-automatic dry standpipe.Manual dry standpipe.Standpipe (fire fighting)In North America, a standpipe is a type of rigid water pipe constructed into a multi-storey building in a vertical position, or to a bridge in a horizontal position, to which a fire hose can be connected, allowing manual application of water to the fire. In the context of buildings or bridges, standpipes have the same function as fire hydrants.
In many other countries, street hydrants are below ground level. The fire truck carries a standpipe and a lock, and there is a bar on the truck. The bar is used to lift the cover on the street, exposing the fire hydrant. The standpipe is then "drowned" into the hydrant, and a hose is connected to the exposed end of the standpipe. The bar is then coupled with the key, and used to turn the hydrant on and off.
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to develop the ability to break a frame or machine down into subsystems and to determine the forces developed at internal pin connections. frames and machines are systems of pin-connected, multiforce members. frames are designed to support loads, whereas machines are designed to transmit or alter the effects of loads. for a frame or machine to be in equilibrium, each member of the frame or machine system must be in equilibrium. free-body diagrams of the overall system, as well as individual members, groups of members, and subsystems, must be drawn.
In accordance with the attached diagram, since CB is a two force member, the two forces acting on it will be equal, opposite and in line.
What are frames and machines?The frame is made up of a number of stiff pieces, one of which must be a multi-force piece designed to serve as a load-bearing stationary structure. In order to perform mechanical work, a machine must convert one set of input loading forces into another set of output forces. A machine is a grouping of rigid elements that are intended to do this.
A minimum of one multi-force member must be included in frames, which are rigid, stationary constructions intended to support loads. Machines are flexible structures where the individual components can move in relation to one another. Cast iron, aluminum, stainless steel, brass, copper, and bronze are materials used to make machine frames.
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The complete question is attached below:
capitalization rates are primarily determined by participants in multiple choice question. the capital markets user markets the property market
Capitalization rates are primarily determined by participants in the property market. Thus, option (c) can be regarded as the correct option.
Give a brief account on capitalization rate.The capitalization rate, commonly referred to as the cap rate, is a term used in the world of commercial real estate to describe the projected rate of return on an investment property. This metric is produced using the predicted net income from the property and is expressed as a percentage by dividing net operating income by the estimated property asset value. The probable return on the investor's real estate investment is calculated using this method. The cap rate can be helpful for quickly comparing the relative values of comparable real estate investments on the market, but it shouldn't be used as the only metric to assess the strength of an investment because it ignores factors like leverage, the time value of money, and potential future cash flows from property improvements, among others.
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estion a(n) occurs when the receipts in a category exceed the payments. multiple choice question. net cash receipt net cash payment net cash outflow net cash inflow
Whenever the receipts in such a category outweigh the payments, there is "net cash inflow."
Define the term net cash inflow?The difference between a company's inflows of cash and outflows of cash over a given time period is known as net cash flow.
At some point, all businesses must achieve cash flow positive status in order to continue operating for the foreseeable future.The potential for future growth, the ability to spend in maintaining prior growth (or surplus growth), the expansion of profit margins, and long-term "going concern" operations are all dependent on a company's ability to produce sustainable, positive cash flows.Cash Inflows: The flow of funds into the coffers of an organization ("Sources").Cash outflows: Money that is no longer with in company's possession,Thus, whenever the receipts in such a category outweigh the payments, there is "net cash inflow."
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pc.63 etched impressions produces custom laser-etched artwork on a variety of flat wood surfaces. they recently purchased some new equipment which should help them be more productive. data from the last two months' production can be found in the following table:
Last month's single-factor productivity for Etched Impressions 3.66, by 2.64% Etched Impressions' productivity increase or decrease in terms of Energy, this month's multi-factor productivity for Etched Impressions is 3.141 and by 33.26% Etched Impression's multi-factor productivity improve.
What is single-factor productivity?Single-factor productivity is a synonym for partial productivity measure. It relates output to one particular type of input.
Single factor productivity for etched impression last month in terms of Dollars
= Revenue last month/ Labour cost last month
= $24 x 910 / ( 11.25 x 530 )
= 21840 / 5962.50
= 3.66
Productivity last month in terms of units produced per BTU = 910/2400 = 0.379
Productivity this month in terms of units produced per BTU = 1020/2620 = 0.389
Percentage increase in productivity this month
= ( 0.389 – 0.379 ) / 0.379 x 100
= 2.64%
CALCULATIONS FOR MULTIFACTOR PRODUCTIVITY :
Total cost for LAST month
= Charge/ labour hour x Labour hour + Charge wood/ feet x amount of wood in feet + Energy $ / BTU x 2400
= $11.25 x 530 + 2.11 x 950 + 0.54 x 2400
= $5962.50 + $2004.50 + $1296
= $9263
Revenue produced LAST month = $24 x 910 = $21840
MULTIFACTOR PRODUCTIVITY last month = Revenue last month/ Total cost last month = 21840/9263 = 2.357
Total cost for THIS month
= Charge/ labour hour x Labour hour + Charge wood/ feet x amount of wood in feet + Energy $ / BTU x 2400
= $11.25 x 400 + 2.11 x 890 + 0.54 x 2620
= $ 4500 + $1877.90 + $1414.80
= $ 7792.70
Revenue produced THIS month = $24 x 1020 = $24480
MULTIFACTOR PRODUCTIVITY this month = Revenue this month / Total cost this month = 24480 / 7792.70 = 3.141
Percentage increase in Multifactor productivity this month over last month
= ( Multifactor productivity this month – multifactor productivity this month) / Multifactor productivity this month x 100
= ( 3.141 – 2.357 ) / 2.357 x 100
= 0.784/2.357 x 100
= 33.26 %
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Complete question:
Max employs both labor and capital to produce toy trains. Currently the last unit of labor employed has a marginal product of 15 units. The last unit of capital employed has a marginal product of 40 units. The price of labor is $3 per unit, and the price of capital is $10 per unit. Which of the following employment decisions should Max follow to use the least-cost combination of labor and capital to produce the current quantity of toy trains?
A
Employment of LaborEmployment of CapitalIncreaseNo change
B
Employment of LaborEmployment of CapitalDecreaseIncrease
C
Employment of LaborEmployment of CapitalDecreaseDecrease
D
Employment of LaborEmployment of CapitalIncreaseIncrease
E
Employment of LaborEmployment of CapitalIncreaseDecrease
E, Employment of LaborEmployment of CapitalIncreaseDecrease. Max employs both labor and capital to produce toy trains. Currently the last unit of labor employed has a marginal product of 15 units.
The last unit of capital employed has a marginal product of 40 units. The price of labor is $3 per unit, and the price of capital is $10 per unit.In business, capital refers to the total amount of financial assets necessary to generate goods or services. These cash can be used to start a business, cover everyday expenditures, or develop and extend it. In contrast to the marketing idea, which strives to discover customer wants, the selling concept finds prospects and promotes the benefits of the product. While marketing concepts may emphasize the development of new items, selling concepts imply that the product will not sell without a strong sales effort. Capital refers to a company's assets and cash. Cash, machinery, receivable accounts, property, or residences are all examples of capital. Capital may also refer to the capital obtained in a business or the owner's assets in a firm.
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an investment adviser representative receives a written complaint from a client about the handling of the client's account. under the nasaa statement of policy on unethical practices, which statement is true? a a copy of the complaint must be filed promptly with the administrator b a copy of the complaint must be filed promptly with the sec c the complaint must be forwarded to a manager for resolution d all of the above
The correct answer is c) the complaint must be forwarded to a manager for resolution. When a client writes an investment adviser representative with a complaint about how the client's account has been handled, the complaint must be sent to a manager for resolution.
Tell them you're paying attention, that you're sympathetic to their situation, and that you understand their problem. Say that you want to work with them to make sure the problem is fixed in a way that satisfies them completely. It's time to address your customer's concern with a remedy.
Customers' need to be heard and understood is one of the main motives for their complaints. Simply listening to the client's issue as the first step in the complaint management process creates an atmosphere of empathy that encourages the customer to trust you.
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Good Slings Inc. manufactures several wood and string instruments at its factory in Thunder Bay. In particular, it is well-known for its production of classic guitars. Assume that Good Slings uses a periodic inventory system and a physical count of inventory takes place at year end. The company accumulated the following costs and account balances for the year ended December 31, 2010 with respect to direct materials:
Balance of materials on January 1, 2010 $197,000
Balance of materials on December 31, 2010 $170,000
Materials purchases during 2010 $744,000
In addition, the following table shows Good Slings’ remaining costs for the year:
Indirect materials $60,000
Direct labor $287,000
Indirect labor $158,000
Utilities, factory $73,000
Utilities, office $27,000
Insurance, factory $17,000
Advertising $21,000
Do not enter dollar signs or commas in the input boxes.
a) Calculate the cost of direct materials used in production for the year.
Materials used in production: $Answer
b) What is the total manufacturing overhead cost for the year?
Manufacturing Overhead: $Answer
c) Calculate total manufacturing costs.
Total Manufacturing Costs: $Answer
d) If there is no beginning work in process inventory and ending work in process inventory is $54,000, what is the cost of goods manufactured?
Cost of Goods Manufactured: $Answer
The cost of direct materials used in production $574,000; total manufacturing overhead cost 614,000; total manufacturing costs 1,412,000; if there is no beginning work in process inventory the cost of goods manufactured $1,091,000.
The cost of goods sold refers to the direct costs of manufacturing the commodities supplied by a firm (COGS). This value includes the cost of the materials and labor required to create the item. It excludes ancillary expenditures such as distribution and sales force costs. COGS is an important financial metric since it is subtracted from an income statement to derive sales revenue. The gross profit is a profit statistic that measures how successfully a company manages its employees and materials during the production process. Manufacturing expenses, for the most part, are sensitive to fluctuations in output volume. Total manufacturing expenditures rise as production rises. Manufacturing expenses are divided into three basic categories: materials, labor, and overhead. These are all direct charges. That instance, the pay and office supplies of the corporate accountant are not included, but the foreman's salary and supplies are.
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An insurance premium of $1,500 is paid for insurance coverage for the following year. The payment is recorded as an expense. This violates the ______ principle of accounting.
matching
If an insurance premium of $1,500 is paid for insurance coverage for the following years and the payment is recorded as an expense. Then this violates the matching principle of accounting.
In accounting, the matching principle states that income for a period should be matched to the expenses incurred to generate it.
For example, if an insurance premium was paid with the intention of covering consumption in the following year, it is a prepaid expense that should be recognized and treated as an asset at the end of the current year.
Furthermore, when the insurance service is consumed, such an asset will be recognized as an expense the following year.
Accounting's matching principle states that revenues and related expenses must be recorded in the same period. The matching principle ensures that accounting principles are straightforward and not deceptive. Infringing on the matching principle will result in an inaccurate financial assessment of a company.
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